diff --git a/BotSharp.Core.UnitTest/AgentTest.cs b/BotSharp.Core.UnitTest/AgentTest.cs index 000057c8..71f1602c 100644 --- a/BotSharp.Core.UnitTest/AgentTest.cs +++ b/BotSharp.Core.UnitTest/AgentTest.cs @@ -51,7 +51,7 @@ namespace BotSharp.Core.UnitTest agents.ForEach(agentHeader => { var bot = new BotSharpAi(); - bot.RestoreAgent(agentHeader); + bot.RestoreAgent(); }); } diff --git a/BotSharp.Core.UnitTest/BotTrainerTest.cs b/BotSharp.Core.UnitTest/BotTrainerTest.cs index f5954101..2f232448 100644 --- a/BotSharp.Core.UnitTest/BotTrainerTest.cs +++ b/BotSharp.Core.UnitTest/BotTrainerTest.cs @@ -12,11 +12,11 @@ namespace BotSharp.Core.UnitTest public class BotTrainerTest : TestEssential { [TestMethod] - public void TrainingTest() + public async void TrainingTest() { var ai = new BotSharpAi(); ai.LoadAgent(BOT_ID); - ai.Train(); + await ai.Train(new BotTrainOptions { }); } } } diff --git a/BotSharp.Core/Abstractions/IAgentImporter.cs b/BotSharp.Core/Abstractions/IAgentImporter.cs index afa9f0f7..5fecc47e 100644 --- a/BotSharp.Core/Abstractions/IAgentImporter.cs +++ b/BotSharp.Core/Abstractions/IAgentImporter.cs @@ -15,7 +15,6 @@ namespace BotSharp.Core.Engines /// /// Load agent summary /// - /// /// Agent LoadAgent(AgentImportHeader agentHeader); diff --git a/BotSharp.Core/Abstractions/IBotPlatform.cs b/BotSharp.Core/Abstractions/IBotPlatform.cs index 546c6b11..ddbd4ec4 100644 --- a/BotSharp.Core/Abstractions/IBotPlatform.cs +++ b/BotSharp.Core/Abstractions/IBotPlatform.cs @@ -17,8 +17,16 @@ namespace BotSharp.Core.Engines /// Agent LoadAgent(string id); + /// + /// Load agent from files. + /// There must contain a meta.json + /// + /// + /// + Agent LoadAgentFromFile(string dataDir); + AIResponse TextRequest(AIRequest request); - Task Train(); + Task Train(BotTrainOptions options); } } diff --git a/BotSharp.Core/BotSharp.Core.csproj b/BotSharp.Core/BotSharp.Core.csproj index 5e08e97a..b83e0ac7 100644 --- a/BotSharp.Core/BotSharp.Core.csproj +++ b/BotSharp.Core/BotSharp.Core.csproj @@ -44,6 +44,13 @@ + + + + + + + @@ -55,8 +62,4 @@ - - - - diff --git a/BotSharp.Core/Engines/AgentImportHeader.cs b/BotSharp.Core/Engines/AgentImportHeader.cs index 42d625da..579380fe 100644 --- a/BotSharp.Core/Engines/AgentImportHeader.cs +++ b/BotSharp.Core/Engines/AgentImportHeader.cs @@ -9,7 +9,7 @@ namespace BotSharp.Core.Engines { public String Id { get; set; } public String Name { get; set; } - public String UserId { get; set; } + public String Platform { get; set; } public String ClientAccessToken { get; set; } public String DeveloperAccessToken { get; set; } diff --git a/BotSharp.Core/Engines/BotEngineBase.cs b/BotSharp.Core/Engines/BotEngineBase.cs index 62993e8b..27315c48 100644 --- a/BotSharp.Core/Engines/BotEngineBase.cs +++ b/BotSharp.Core/Engines/BotEngineBase.cs @@ -1,4 +1,5 @@ using BotSharp.Core.Agents; +using BotSharp.Core.Engines.Rasa; using BotSharp.Core.Entities; using BotSharp.Core.Intents; using BotSharp.Core.Models; @@ -53,6 +54,7 @@ namespace BotSharp.Core.Engines ResolvedQuery = doc.Sentences[0].Text, Fulfillment = new AIResponseFulfillment { }, Parameters = parameters, + Entities = doc.Sentences[0].Entities, Metadata = new AIResponseMetadata { IntentName = doc.Sentences[0].Intent?.Label @@ -85,28 +87,44 @@ namespace BotSharp.Core.Engines /// Restore a agent instance from backup json files /// /// - /// /// /// - public bool RestoreAgent(AgentImportHeader agentHeader) where TAgentImporter : IAgentImporter, new() + public bool RestoreAgent() where TAgentImporter : IAgentImporter, new() { string dataDir = Path.Combine(DbInitializerPath, "Agents"); int row = dc.DbTran(() => { - LoadAgentFromFile(dataDir, agentHeader); + LoadAgentFromFile(dataDir); SaveAgent(); }); return row > 0; } - public Agent LoadAgentFromFile(string dataDir, AgentImportHeader agentHeader) where TAgentImporter : IAgentImporter, new() + public Agent LoadAgentFromFile(string dataDir) { - var importer = new TAgentImporter(); + var meta = LoadMeta(dataDir); + IAgentImporter importer = null; + + switch (meta.Platform) + { + case "Dialogflow": + importer = new AgentImporterInDialogflow(); + break; + case "Rasa": + importer = new AgentImporterInRasa(); + break; + case "Sebis": + importer = new AgentImporterInSebis(); + break; + default: + break; + } + importer.AgentDir = dataDir; // Load agent summary - agent = importer.LoadAgent(agentHeader); + agent = importer.LoadAgent(meta); // Load user custom entities importer.LoadCustomEntities(agent); @@ -123,6 +141,14 @@ namespace BotSharp.Core.Engines return agent; } + private AgentImportHeader LoadMeta(string dataDir) + { + // load meta + string metaJson = File.ReadAllText(Path.Combine(dataDir, "meta.json")); + + return JsonConvert.DeserializeObject(metaJson); + } + public String SaveAgent() { var existedAgent = dc.Table().FirstOrDefault(x => x.Id == agent.Id || x.Name == agent.Name); @@ -138,6 +164,76 @@ namespace BotSharp.Core.Engines } } + public TrainingCorpus GetIntentExpressions(Agent agent) + { + TrainingCorpus corpus = new TrainingCorpus() + { + UserSays = new List>(), + Entities = new List() + }; + + var expressParts = new List(); + + var intents = agent.Intents; + + intents.ForEach(intent => + { + intent.UserSays.ForEach(exp => + { + exp.Data = exp.Data.OrderBy(x => x.UpdatedTime).ToList(); + + var say = new TrainingIntentExpression + { + Intent = intent.Name, + Text = String.Join("", exp.Data.Select(x => x.Text)), + ContextHash = intent.ContextHash + }; + + // convert entity format + exp.Data.Where(x => !String.IsNullOrEmpty(x.Meta)) + .ToList() + .ForEach(x => + { + var part = new TrainingIntentExpressionPart + { + Value = x.Text, + Entity = $"{x.Meta}:{x.Alias}", + Start = x.Start + }; + + if (say.Entities == null) say.Entities = new List(); + say.Entities.Add(part); + + // assemble entity synonmus + /*if (!trainingData.Entities.Any(y => y.EntityType == x.Alias && y.EntityValue == x.Text)) + { + var allSynonyms = (from e in dc.Table() + join ee in dc.Table() on e.Id equals ee.EntityId + join ees in dc.Table() on ee.Id equals ees.EntityEntryId + where e.Name == x.Alias && ee.Value == x.Text & ees.Synonym != x.Text + select ees.Synonym).ToList(); + + var te = new TrainingEntity + { + EntityType = $"{x.Meta}:{x.Alias}", + EntityValue = x.Text, + Synonyms = allSynonyms + }; + + trainingData.Entities.Add(te); + }*/ + }); + + corpus.UserSays.Add(say); + }); + }); + + // remove Default Fallback Intent + corpus.UserSays = corpus.UserSays.Where(x => x.Intent != "Default Fallback Intent").ToList(); + + return corpus; + } + public TrainingCorpus GetIntentExpressions() { TrainingCorpus corpus = new TrainingCorpus() @@ -212,7 +308,7 @@ namespace BotSharp.Core.Engines return corpus; } - public virtual Task Train() + public virtual Task Train(BotTrainOptions options) { return Task.CompletedTask; } diff --git a/BotSharp.Core/Engines/BotPredictor.cs b/BotSharp.Core/Engines/BotPredictor.cs index 6a941e2a..b535c043 100644 --- a/BotSharp.Core/Engines/BotPredictor.cs +++ b/BotSharp.Core/Engines/BotPredictor.cs @@ -20,7 +20,7 @@ namespace BotSharp.Core.Engines public async Task Predict(Agent agent, AIRequest request) { // load model - var dir = Path.Combine(AppDomain.CurrentDomain.GetData("DataPath").ToString(), "ModelFiles", agent.Id); + var dir = Path.Combine(AppDomain.CurrentDomain.GetData("DataPath").ToString(), "Projects", agent.Id, request.Model); Console.WriteLine($"Load model from {dir}"); var metaJson = File.ReadAllText(Path.Combine(dir, "metadata.json")); var meta = JsonConvert.DeserializeObject(metaJson); @@ -49,6 +49,7 @@ namespace BotSharp.Core.Engines var settings = new PipeSettings { + ModelDir = dir, ProjectDir = Path.Combine(AppDomain.CurrentDomain.GetData("DataPath").ToString(), "Projects", agent.Id), AlgorithmDir = Path.Combine(AppDomain.CurrentDomain.GetData("ContentRootPath").ToString(), "Algorithms") }; diff --git a/BotSharp.Core/Engines/BotSharp/BotSharpAi.cs b/BotSharp.Core/Engines/BotSharp/BotSharpAi.cs index 4ea57d6f..6c8bfbbc 100644 --- a/BotSharp.Core/Engines/BotSharp/BotSharpAi.cs +++ b/BotSharp.Core/Engines/BotSharp/BotSharpAi.cs @@ -8,11 +8,11 @@ namespace BotSharp.Core.Engines.BotSharp { public class BotSharpAi : BotEngineBase, IBotPlatform { - public override async Task Train() + public override async Task Train(BotTrainOptions options) { - agent.Corpus = GetIntentExpressions(); + agent.Corpus = GetIntentExpressions(agent); var trainer = new BotTrainer(agent.Id, dc); - await trainer.Train(agent); + await trainer.Train(agent, options); } } } diff --git a/BotSharp.Core/Engines/BotSharp/BotSharpTagger.cs b/BotSharp.Core/Engines/BotSharp/BotSharpTagger.cs index caf9f2e2..b18be13f 100644 --- a/BotSharp.Core/Engines/BotSharp/BotSharpTagger.cs +++ b/BotSharp.Core/Engines/BotSharp/BotSharpTagger.cs @@ -17,28 +17,35 @@ namespace BotSharp.Core.Engines.BotSharp public IConfiguration Configuration { get; set; } public PipeSettings Settings { get; set; } - public Task Predict(Agent agent, NlpDoc doc, PipeModel meta) - { - throw new NotImplementedException(); - } + private TaggerFactory _tagger; - public async Task Train(Agent agent, NlpDoc doc, PipeModel meta) + public BotSharpTagger() { - string dataDir = Path.Combine(Configuration.GetValue("BotSharpTagger:dataDir"), "CoNLL"); + string dataDir = Path.Combine(AppDomain.CurrentDomain.GetData("DataPath").ToString(), "Corpus", "CoNLL"); var data = new CoNLLReader().Read(new ReaderOptions { DataDir = dataDir, FileName = "conll2000_chunking_train.txt" }); - var tagger = new TaggerFactory(new TagOptions + _tagger = new TaggerFactory(new TagOptions { NGram = 1, Tag = "NN", Corpus = data }, SupportedLanguage.English); + } - doc.Sentences.ForEach(x => tagger.Tag(new Sentence { Words = x.Tokens })); + public async Task Predict(Agent agent, NlpDoc doc, PipeModel meta) + { + doc.Sentences.ForEach(x => _tagger.Tag(new Sentence { Words = x.Tokens })); + + return true; + } + + public async Task Train(Agent agent, NlpDoc doc, PipeModel meta) + { + doc.Sentences.ForEach(x => _tagger.Tag(new Sentence { Words = x.Tokens })); return true; } diff --git a/BotSharp.Core/Engines/BotSharp/BotSharpTokenizer.cs b/BotSharp.Core/Engines/BotSharp/BotSharpTokenizer.cs index b0004797..179d6432 100644 --- a/BotSharp.Core/Engines/BotSharp/BotSharpTokenizer.cs +++ b/BotSharp.Core/Engines/BotSharp/BotSharpTokenizer.cs @@ -14,29 +14,35 @@ namespace BotSharp.Core.Engines.BotSharp { public IConfiguration Configuration { get; set; } public PipeSettings Settings { get; set; } + private TokenizerFactory _tokenizer; + + public BotSharpTokenizer() + { + _tokenizer = new TokenizerFactory(new TokenizationOptions + { + Pattern = RegexTokenizer.WORD_PUNC + }, SupportedLanguage.English); + } public async Task Predict(Agent agent, NlpDoc doc, PipeModel meta) { + // same as train + doc.Sentences.ForEach(snt => + { + snt.Tokens = _tokenizer.Tokenize(snt.Text); + }); + return true; } public async Task Train(Agent agent, NlpDoc doc, PipeModel meta) { - List> tokens = new List>(); - var corpus = agent.Corpus; - - var tokenizer = new TokenizerFactory(new TokenizationOptions - { - Pattern = RegexTokenizer.WORD_PUNC - }, SupportedLanguage.English); - doc.Sentences = new List(); - List sentencesList = new List(); - corpus.UserSays.ForEach(say => + agent.Corpus.UserSays.ForEach(say => { doc.Sentences.Add(new NlpDocSentence { - Tokens = tokenizer.Tokenize(say.Text), + Tokens = _tokenizer.Tokenize(say.Text), Text = say.Text }); }); diff --git a/BotSharp.Core/Engines/BotTrainOptions.cs b/BotSharp.Core/Engines/BotTrainOptions.cs new file mode 100644 index 00000000..981bdb3f --- /dev/null +++ b/BotSharp.Core/Engines/BotTrainOptions.cs @@ -0,0 +1,19 @@ +using System; +using System.Collections.Generic; +using System.Text; + +namespace BotSharp.Core.Engines +{ + public class BotTrainOptions + { + /// + /// Agent data direcotry + /// + public string AgentDir { get; set; } + + /// + /// Model Name + /// + public string Model { get; set; } + } +} diff --git a/BotSharp.Core/Engines/BotTrainer.cs b/BotSharp.Core/Engines/BotTrainer.cs index b092ed41..cdf5d954 100644 --- a/BotSharp.Core/Engines/BotTrainer.cs +++ b/BotSharp.Core/Engines/BotTrainer.cs @@ -33,17 +33,8 @@ namespace BotSharp.Core.Engines this.agentId = agentId; } - public async Task Train(Agent agent) + public async Task Train(Agent agent, BotTrainOptions options) { - /*agent.Intents = dc.Table() - .Include(x => x.Contexts) - .Include(x => x.Responses).ThenInclude(x => x.Contexts) - .Include(x => x.Responses).ThenInclude(x => x.Parameters).ThenInclude(x => x.Prompts) - .Include(x => x.Responses).ThenInclude(x => x.Messages) - .Include(x => x.UserSays).ThenInclude(x => x.Data) - .Where(x => x.AgentId == agentId) - .ToList();*/ - var data = new NlpDoc(); // Get NLP Provider @@ -70,7 +61,7 @@ namespace BotSharp.Core.Engines AlgorithmDir = Path.Combine(AppDomain.CurrentDomain.GetData("ContentRootPath").ToString(), "Algorithms") }; - settings.ModelDir = Path.Combine(settings.ProjectDir, "model" + DateTime.UtcNow.ToString("MMddyyyyHHmm")); + settings.ModelDir = Path.Combine(settings.ProjectDir, String.IsNullOrEmpty(options.Model) ? "model" + DateTime.UtcNow.ToString("MMddyyyyHHmm") : options.Model); if (!Directory.Exists(settings.ProjectDir)) { diff --git a/BotSharp.Core/Engines/Dialogflow/AIRequest.cs b/BotSharp.Core/Engines/Dialogflow/AIRequest.cs index b4bca325..d5a97b6b 100644 --- a/BotSharp.Core/Engines/Dialogflow/AIRequest.cs +++ b/BotSharp.Core/Engines/Dialogflow/AIRequest.cs @@ -17,6 +17,11 @@ namespace BotSharp.Core.Models public OriginalRequest OriginalRequest { get; set; } + /// + /// What model is used to predict. + /// + public string Model { get; set; } + public AIRequest() { Contexts = new List(); diff --git a/BotSharp.Core/Engines/Dialogflow/AIResponseResult.cs b/BotSharp.Core/Engines/Dialogflow/AIResponseResult.cs index 4e7e5b54..ccf1b2a2 100644 --- a/BotSharp.Core/Engines/Dialogflow/AIResponseResult.cs +++ b/BotSharp.Core/Engines/Dialogflow/AIResponseResult.cs @@ -1,4 +1,5 @@ using BotSharp.Core.Intents; +using BotSharp.Models.NLP; using Newtonsoft.Json; using Newtonsoft.Json.Linq; using System; @@ -33,6 +34,8 @@ namespace BotSharp.Core.Models public Dictionary Parameters { get; set; } + public List Entities { get; set; } + public AIContext[] Contexts { get; set; } public AIResponseMetadata Metadata { get; set; } diff --git a/BotSharp.Core/Engines/Dialogflow/AgentImporterInDialogflow.cs b/BotSharp.Core/Engines/Dialogflow/AgentImporterInDialogflow.cs index 3b643b4e..3470b533 100644 --- a/BotSharp.Core/Engines/Dialogflow/AgentImporterInDialogflow.cs +++ b/BotSharp.Core/Engines/Dialogflow/AgentImporterInDialogflow.cs @@ -30,7 +30,7 @@ namespace BotSharp.Core.Engines public Agent LoadAgent(AgentImportHeader agentHeader) { // load agent profile - string data = File.ReadAllText(Path.Combine(AgentDir, "Dialogflow", $"{agentHeader.Name}{Path.DirectorySeparatorChar}agent.json")); + string data = File.ReadAllText(Path.Combine(AgentDir, "agent.json")); var agent = JsonConvert.DeserializeObject(data); agent.Name = agentHeader.Name; agent.Id = agentHeader.Id; @@ -54,7 +54,7 @@ namespace BotSharp.Core.Engines public void LoadCustomEntities(Agent agent) { agent.Entities = new List(); - string entityDir = Path.Combine(AgentDir, "Dialogflow", $"{agent.Name}{Path.DirectorySeparatorChar}entities"); + string entityDir = Path.Combine(AgentDir, "entities"); if (!Directory.Exists(entityDir)) return; Directory.EnumerateFiles(entityDir) @@ -89,7 +89,7 @@ namespace BotSharp.Core.Engines public void LoadIntents(Agent agent) { agent.Intents = new List(); - string intentDir = Path.Combine(AgentDir, "Dialogflow", $"{agent.Name}{Path.DirectorySeparatorChar}intents"); + string intentDir = Path.Combine(AgentDir, "intents"); if (!Directory.Exists(intentDir)) return; Directory.EnumerateFiles(intentDir) diff --git a/BotSharp.Core/Engines/NERs/CRFsuiteEntityRecognizer.cs b/BotSharp.Core/Engines/NERs/CRFsuiteEntityRecognizer.cs index 53f1c1e2..036d70c4 100644 --- a/BotSharp.Core/Engines/NERs/CRFsuiteEntityRecognizer.cs +++ b/BotSharp.Core/Engines/NERs/CRFsuiteEntityRecognizer.cs @@ -209,7 +209,8 @@ namespace BotSharp.Core.Engines.NERs Entity = entity, Start = doc.Sentences[0].Tokens[i].Start, Value = doc.Sentences[0].Tokens[i].Text, - Confidence = probability + Confidence = probability, + Extrator = "CRFsuiteEntityRecognizer" }); } @@ -249,6 +250,7 @@ namespace BotSharp.Core.Engines.NERs nlpEntity.Start = tokens[i].Start; nlpEntity.Value = unionValue.ToString(); nlpEntity.Confidence = unoinConfidence; + nlpEntity.Extrator = tokens[i].Extrator; res.Add(nlpEntity); i = j - 1; } diff --git a/BotSharp.Core/Engines/Sebis/AgentImporterInSebis.cs b/BotSharp.Core/Engines/Sebis/AgentImporterInSebis.cs index a0c40150..4ee9b6d6 100644 --- a/BotSharp.Core/Engines/Sebis/AgentImporterInSebis.cs +++ b/BotSharp.Core/Engines/Sebis/AgentImporterInSebis.cs @@ -25,7 +25,6 @@ namespace BotSharp.Core.Engines /// /// Load agent meta /// - /// /// /// public Agent LoadAgent(AgentImportHeader agentHeader) diff --git a/BotSharp.Core/Engines/TrainingIntentExpressionPart.cs b/BotSharp.Core/Engines/TrainingIntentExpressionPart.cs index 070f960f..28739675 100644 --- a/BotSharp.Core/Engines/TrainingIntentExpressionPart.cs +++ b/BotSharp.Core/Engines/TrainingIntentExpressionPart.cs @@ -7,7 +7,13 @@ namespace BotSharp.Core.Engines public class TrainingIntentExpressionPart { public int Start { get; set; } - public int End { get { return Start + Value.Length; } } + public int End + { + get + { + return Start + Value.Length - 1; + } + } public String Value { get; set; } public String Entity { get; set; } } diff --git a/BotSharp.RestApi/AgentController.cs b/BotSharp.RestApi/AgentController.cs index c32122c1..573d552c 100644 --- a/BotSharp.RestApi/AgentController.cs +++ b/BotSharp.RestApi/AgentController.cs @@ -4,14 +4,17 @@ using BotSharp.Core.Engines.BotSharp; using BotSharp.Core.Models; using DotNetToolkit; using EntityFrameworkCore.BootKit; +using Microsoft.AspNetCore.Http; using Microsoft.AspNetCore.Mvc; using Microsoft.Extensions.Configuration; using Newtonsoft.Json; using System; using System.Collections.Generic; using System.IO; +using System.IO.Compression; using System.Linq; using System.Text; +using System.Threading.Tasks; namespace BotSharp.RestApi { @@ -43,31 +46,45 @@ namespace BotSharp.RestApi /// /// Restore a agent from a uploaded zip file /// - /// + /// /// - [HttpGet("{agentId}")] - public ActionResult Restore([FromRoute] String agentId) + [HttpPost] + public async Task Restore(IFormFile uploadedFile) { - var botsHeaderFilePath = Path.Combine(AppDomain.CurrentDomain.GetData("DataPath").ToString(), $"DbInitializer{Path.DirectorySeparatorChar}Agents{Path.DirectorySeparatorChar}agents.json"); - var agents = JsonConvert.DeserializeObject>(System.IO.File.ReadAllText(botsHeaderFilePath)); + if (uploadedFile == null || uploadedFile.Length == 0) + { + return BadRequest(); + } - var rasa = new BotSharpAi(); - var agentHeader = agents.First(x => x.Id == agentId); - rasa.RestoreAgent(agentHeader); + var filePath = Path.GetTempFileName(); - return Ok(); + using (var stream = new FileStream(filePath, FileMode.Create)) + { + await uploadedFile.CopyToAsync(stream); + } + + string dest = Path.Combine(AppDomain.CurrentDomain.GetData("DataPath").ToString(), "Projects", uploadedFile.FileName.Split('.').First(), "model_" + DateTime.UtcNow.ToString("MMddyyyyHHmm")); + ZipFile.ExtractToDirectory(filePath, dest); + + System.IO.File.Delete(filePath); + + var agent = _platform.LoadAgentFromFile(dest); + + return Ok(agent.Id); } /// - /// Restore a agent from a uploaded zip file + /// Train agent /// /// /// [HttpGet("{agentId}")] public string Train([FromRoute] String agentId) { - _platform.LoadAgent(agentId); - _platform.Train(); + string agentDir = Path.Combine(AppDomain.CurrentDomain.GetData("DataPath").ToString(), "Projects", agentId); + string dest = Directory.GetDirectories(agentDir).Last(); + var agent = _platform.LoadAgentFromFile(dest); + _platform.Train(new BotTrainOptions { AgentDir = agentDir, Model = dest.Split(Path.DirectorySeparatorChar).Last() }); return ""; } diff --git a/BotSharp.RestApi/Authentication/AuthenticationController.cs b/BotSharp.RestApi/Authentication/AuthenticationController.cs index 72df1704..8d0ee028 100644 --- a/BotSharp.RestApi/Authentication/AuthenticationController.cs +++ b/BotSharp.RestApi/Authentication/AuthenticationController.cs @@ -1,5 +1,4 @@ -using BotSharp.Core.Accounts; -using DotNetToolkit; +using DotNetToolkit; using DotNetToolkit.JwtHelper; using EntityFrameworkCore.BootKit; using Microsoft.AspNetCore.Authorization; diff --git a/BotSharp.RestApi/BotSharp.RestApi.csproj b/BotSharp.RestApi/BotSharp.RestApi.csproj index db4f656b..5c04d379 100644 --- a/BotSharp.RestApi/BotSharp.RestApi.csproj +++ b/BotSharp.RestApi/BotSharp.RestApi.csproj @@ -37,7 +37,13 @@ - + + + + + + + diff --git a/BotSharp.RestApi/Rasa/ParseController.cs b/BotSharp.RestApi/Rasa/ParseController.cs index 56ab6d1f..b5900968 100644 --- a/BotSharp.RestApi/Rasa/ParseController.cs +++ b/BotSharp.RestApi/Rasa/ParseController.cs @@ -1,14 +1,21 @@ using BotSharp.Core.Engines; +using BotSharp.Core.Engines.Rasa; using BotSharp.Core.Models; using BotSharp.NLP; using Microsoft.AspNetCore.Mvc; +using Newtonsoft.Json; using System; using System.Collections.Generic; +using System.IO; +using System.Linq; using System.Text; namespace BotSharp.RestApi.Rasa { #if RASA_UI + /// + /// send a text request + /// [Route("[controller]")] public class ParseController : ControllerBase { @@ -23,33 +30,57 @@ namespace BotSharp.RestApi.Rasa _platform = platform; } - [HttpPost] - public ActionResult Parse(RasaRequestModel request) + /// + /// parse request + /// + /// + /// + [HttpPost, HttpGet] + public ActionResult Parse() { - String clientAccessToken = Request.Headers["ClientAccessToken"]; - var config = new AIConfiguration(clientAccessToken, SupportedLanguage.English); + var config = new AIConfiguration("", SupportedLanguage.English); config.SessionId = "rasa nlu"; - _platform.LoadAgent(clientAccessToken); + string body = ""; + using (var reader = new StreamReader(Request.Body)) + { + body = reader.ReadToEnd(); + } + var request = JsonConvert.DeserializeObject(body); + + // Load agent + var projectPath = Path.Combine(AppDomain.CurrentDomain.GetData("DataPath").ToString(), "Projects", request.Project); + var modelPath = Path.Combine(projectPath, request.Model); + + _platform.LoadAgentFromFile(modelPath); var aIResponse = _platform.TextRequest(new AIRequest { + Model = request.Model, Query = new String[] { request.Text } }); - return new RasaResponse + var rasaResponse = new RasaResponse { Intent = new RasaResponseIntent { Name = aIResponse.Result.Metadata.IntentName, Confidence = aIResponse.Result.Score }, - Entities = new List + Entities = aIResponse.Result.Entities.Select(x => new RasaResponseEntity { - - }, - Text = request.Text + Extractor = x.Extrator, + Start = x.Start, + Entity = x.Entity, + Value = x.Value + }).ToList(), + Text = request.Text, + Model = request.Model, + Project = request.Project, + IntentRanking = new List { } }; + + return rasaResponse; } } #endif diff --git a/BotSharp.RestApi/Rasa/RasaTrainRequestModel.cs b/BotSharp.RestApi/Rasa/RasaTrainRequestModel.cs index e2213eb9..5fd8b59e 100644 --- a/BotSharp.RestApi/Rasa/RasaTrainRequestModel.cs +++ b/BotSharp.RestApi/Rasa/RasaTrainRequestModel.cs @@ -10,6 +10,8 @@ namespace BotSharp.RestApi.Rasa { public string Project { get; set; } + public string Model { get; set; } + [JsonProperty("rasa_nlu_data")] public RasaTrainingData Corpus { get; set; } } diff --git a/BotSharp.RestApi/Rasa/RasaUiMiddlewareRequestDataModel.cs b/BotSharp.RestApi/Rasa/RasaUiMiddlewareRequestDataModel.cs deleted file mode 100644 index e0d5cb3e..00000000 --- a/BotSharp.RestApi/Rasa/RasaUiMiddlewareRequestDataModel.cs +++ /dev/null @@ -1,13 +0,0 @@ -using System; -using System.Collections.Generic; -using System.Text; - -namespace BotSharp.RestApi.Rasa -{ - public class RasaUiMiddlewareRequestDataModel - { - public string Project { get; set; } - public string Agent { get; set; } - public RasaTrainRequestModel Data { get; set; } - } -} diff --git a/BotSharp.RestApi/Rasa/RasaUiMiddlewareRequestModel.cs b/BotSharp.RestApi/Rasa/RasaUiMiddlewareRequestModel.cs deleted file mode 100644 index e061e6d5..00000000 --- a/BotSharp.RestApi/Rasa/RasaUiMiddlewareRequestModel.cs +++ /dev/null @@ -1,21 +0,0 @@ -using Newtonsoft.Json; -using System; -using System.Collections.Generic; -using System.Text; - -namespace BotSharp.RestApi.Rasa -{ - public class RasaUiMiddlewareRequestModel - { - [JsonProperty("ip_address")] - public string IP { get; set; } - - public string Query { get; set; } - - [JsonProperty("event_type")] - public string EventType { get; set; } - - /*[JsonProperty("event_data")] - public T EventData { get; set; }*/ - } -} diff --git a/BotSharp.RestApi/Rasa/StatusController.cs b/BotSharp.RestApi/Rasa/StatusController.cs index 0c2d657c..67e5b034 100644 --- a/BotSharp.RestApi/Rasa/StatusController.cs +++ b/BotSharp.RestApi/Rasa/StatusController.cs @@ -1,24 +1,67 @@ -using Microsoft.AspNetCore.Mvc; +using BotSharp.Core.Engines; +using Microsoft.AspNetCore.Mvc; using Newtonsoft.Json.Linq; using System; using System.Collections.Generic; +using System.IO; +using System.Linq; using System.Text; namespace BotSharp.RestApi.Rasa { #if RASA_UI + /// + /// This returns all the currently available projects. + /// [Route("[controller]")] public class StatusController : ControllerBase { + private readonly IBotPlatform _platform; + + /// + /// Initialize status controller and get a platform instance + /// + /// + public StatusController(IBotPlatform platform) + { + _platform = platform; + } + + /// + /// Returns a list of available projects the server can use to fulfill /parse requests. + /// + /// [HttpGet] public ActionResult Get() { var status = new RasaStatusModel(); - status.AvailableProjects = JObject.FromObject(new RasaProjectModel + status.AvailableProjects = JObject.FromObject(new { }); + + // scan dir, get all models + var projectPath = Path.Combine(AppDomain.CurrentDomain.GetData("DataPath").ToString(), "Projects"); + var projectDirs = Directory.GetDirectories(projectPath); + for(int idx = 0; idx < projectDirs.Length; idx++) { - Status = "ready", - AvailableModels = new List { "" } - }); + string project = projectDirs[idx].Split('\\').Last(); + var modelDirs = Directory.GetDirectories(projectDirs[idx]); + + List availableModels = new List(); + + for (int mIdx = 0; mIdx < modelDirs.Length; mIdx++) + { + string model = modelDirs[mIdx].Split('\\').Last(); + if (model.StartsWith(project + "_")) + { + availableModels.Add(model); + } + } + + status.AvailableProjects.Add(project, JObject.FromObject(new RasaProjectModel + { + Status = "ready", + AvailableModels = availableModels + })); + } return Ok(status); } diff --git a/BotSharp.RestApi/Rasa/TrainController.cs b/BotSharp.RestApi/Rasa/TrainController.cs index ba936aea..e7054375 100644 --- a/BotSharp.RestApi/Rasa/TrainController.cs +++ b/BotSharp.RestApi/Rasa/TrainController.cs @@ -15,6 +15,10 @@ using System.Threading.Tasks; namespace BotSharp.RestApi.Rasa { #if RASA_UI + /// + /// You can post your training data to this endpoint to train a new model for a project. + /// This request will wait for the server answer: either the model was trained successfully or the training exited with an error. + /// [Route("[controller]")] public class TrainController : ControllerBase { @@ -29,12 +33,29 @@ namespace BotSharp.RestApi.Rasa _platform = platform; } + /// + /// Using the HTTP server, you must specify the project you want to train a new model for to be able to use it during parse requests later on : /train?project=my_project. + /// + /// Model name + /// + /// [HttpPost] - public async Task> Train(RasaUiMiddlewareRequestModel request) + public async Task> Train([FromQuery] string model, [FromQuery] string project) { - return Ok(); + string body = ""; + using (var reader = new StreamReader(Request.Body)) + { + body = reader.ReadToEnd(); + } + + var rasa_nlu_data = JsonConvert.DeserializeObject(body); + rasa_nlu_data.Model = model; + var trainResult = await Train(rasa_nlu_data, project); + + return trainResult; } - /*public async Task> Train([FromBody] RasaTrainRequestModel request, [FromQuery] string project) + + private async Task> Train([FromBody] RasaTrainRequestModel request, [FromQuery] string project) { var trainer = new BotTrainer(); if (String.IsNullOrEmpty(request.Project)) @@ -43,16 +64,17 @@ namespace BotSharp.RestApi.Rasa } // save corpus to agent dir - var projectPath = Path.Combine(AppDomain.CurrentDomain.GetData("DataPath").ToString(), "Projects"); - var dataPath = Path.Combine(projectPath, project); - var agentPath = Path.Combine(dataPath, "Temp"); + var projectPath = Path.Combine(AppDomain.CurrentDomain.GetData("DataPath").ToString(), "Projects", project); + var modelPath = Path.Combine(projectPath, request.Model); - if (!Directory.Exists(agentPath)) + if (!Directory.Exists(modelPath)) { - Directory.CreateDirectory(agentPath); + Directory.CreateDirectory(modelPath); } - var fileName = Path.Combine(agentPath, "corpus.json"); + // Save raw data to file, then parse it to Agent instance. + // in order to unify the process. + var fileName = Path.Combine(modelPath, "corpus.json"); System.IO.File.WriteAllText(fileName, JsonConvert.SerializeObject(request.Corpus, new JsonSerializerSettings { @@ -61,18 +83,12 @@ namespace BotSharp.RestApi.Rasa ContractResolver = new CamelCasePropertyNamesContractResolver() })); - var bot = new RasaAi(); - var agent = bot.LoadAgentFromFile(agentPath, - new AgentImportHeader - { - Id = request.Project, - Name = project - }); + var agent = _platform.LoadAgentFromFile(modelPath); - var info = await trainer.Train(agent); + var info = await trainer.Train(agent, new BotTrainOptions { Model = request.Model }); return Ok(new { info = info.Model }); - }*/ + } } #endif } diff --git a/BotSharp.WebHost/App_Data/AgentArchive/Chatbot.zip b/BotSharp.WebHost/App_Data/AgentArchive/Chatbot.zip new file mode 100644 index 00000000..f7c251a3 Binary files /dev/null and b/BotSharp.WebHost/App_Data/AgentArchive/Chatbot.zip differ diff --git a/BotSharp.WebHost/App_Data/AgentArchive/Restaurant.zip b/BotSharp.WebHost/App_Data/AgentArchive/Restaurant.zip new file mode 100644 index 00000000..eda4462c Binary files /dev/null and b/BotSharp.WebHost/App_Data/AgentArchive/Restaurant.zip differ diff --git a/BotSharp.WebHost/App_Data/AgentArchive/Spotify.zip b/BotSharp.WebHost/App_Data/AgentArchive/Spotify.zip new file mode 100644 index 00000000..8a87b217 Binary files /dev/null and b/BotSharp.WebHost/App_Data/AgentArchive/Spotify.zip differ diff --git a/BotSharp.WebHost/App_Data/Corpus/CoNLL/README.md b/BotSharp.WebHost/App_Data/Corpus/CoNLL/README.md new file mode 100644 index 00000000..a1727e90 --- /dev/null +++ b/BotSharp.WebHost/App_Data/Corpus/CoNLL/README.md @@ -0,0 +1,2 @@ +conll2000_chunking is downloaded from https://www.clips.uantwerpen.be/conll2000/chunking/ +The train and test data consist of three columns separated by spaces. Each word has been put on a separate line and there is an empty line after each sentence. The first column contains the current word, the second its part-of-speech tag as derived by the Brill tagger and the third its chunk tag as derived from the WSJ corpus. \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/Corpus/CoNLL/conll2000_chunking_test.txt b/BotSharp.WebHost/App_Data/Corpus/CoNLL/conll2000_chunking_test.txt new file mode 100644 index 00000000..b9ec60ff --- /dev/null +++ b/BotSharp.WebHost/App_Data/Corpus/CoNLL/conll2000_chunking_test.txt @@ -0,0 +1,49389 @@ +Rockwell NNP B-NP +International NNP I-NP +Corp. NNP I-NP +'s POS B-NP +Tulsa NNP I-NP +unit NN I-NP +said VBD B-VP +it PRP B-NP +signed VBD B-VP +a DT B-NP +tentative JJ I-NP +agreement NN I-NP +extending VBG B-VP +its PRP$ B-NP +contract NN I-NP +with IN B-PP +Boeing NNP B-NP +Co. NNP I-NP +to TO B-VP +provide VB I-VP +structural JJ B-NP +parts NNS I-NP +for IN B-PP +Boeing NNP B-NP +'s POS B-NP +747 CD I-NP +jetliners NNS I-NP +. . O + +Rockwell NNP B-NP +said VBD B-VP +the DT B-NP +agreement NN I-NP +calls VBZ B-VP +for IN B-SBAR +it PRP B-NP +to TO B-VP +supply VB I-VP +200 CD B-NP +additional JJ I-NP +so-called JJ I-NP +shipsets NNS I-NP +for IN B-PP +the DT B-NP +planes NNS I-NP +. . O + +These DT B-NP +include VBP B-VP +, , O +among IN B-PP +other JJ B-NP +parts NNS I-NP +, , O +each DT B-NP +jetliner NN I-NP +'s POS B-NP +two CD I-NP +major JJ I-NP +bulkheads NNS I-NP +, , O +a DT B-NP +pressure NN I-NP +floor NN I-NP +, , O +torque NN B-NP +box NN I-NP +, , O +fixed VBN B-NP +leading VBG I-NP +edges NNS I-NP +for IN B-PP +the DT B-NP +wings NNS I-NP +and CC O +an DT B-NP +aft JJ I-NP +keel NN I-NP +beam NN I-NP +. . O + +Under IN B-PP +the DT B-NP +existing VBG I-NP +contract NN I-NP +, , O +Rockwell NNP B-NP +said VBD B-VP +, , O +it PRP B-NP +has VBZ B-VP +already RB I-VP +delivered VBN I-VP +793 CD B-NP +of IN B-PP +the DT B-NP +shipsets NNS I-NP +to TO B-PP +Boeing NNP B-NP +. . O + +Rockwell NNP B-NP +, , O +based VBN B-VP +in IN B-PP +El NNP B-NP +Segundo NNP I-NP +, , O +Calif. NNP B-NP +, , O +is VBZ B-VP +an DT B-NP +aerospace NN I-NP +, , I-NP +electronics NNS I-NP +, , I-NP +automotive JJ I-NP +and CC I-NP +graphics NNS I-NP +concern VBP I-NP +. . O + +Frank NNP B-NP +Carlucci NNP I-NP +III NNP I-NP +was VBD B-VP +named VBN I-VP +to TO B-PP +this DT B-NP +telecommunications NNS I-NP +company NN I-NP +'s POS B-NP +board NN I-NP +, , O +filling VBG B-VP +the DT B-NP +vacancy NN I-NP +created VBN B-VP +by IN B-PP +the DT B-NP +death NN I-NP +of IN B-PP +William NNP B-NP +Sobey NNP I-NP +last JJ B-NP +May NNP I-NP +. . O + +Mr. NNP B-NP +Carlucci NNP I-NP +, , O +59 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +served VBN B-VP +as IN B-PP +defense NN B-NP +secretary NN I-NP +in IN B-PP +the DT B-NP +Reagan NNP I-NP +administration NN I-NP +. . O + +In IN B-PP +January NNP B-NP +, , O +he PRP B-NP +accepted VBD B-VP +the DT B-NP +position NN I-NP +of IN B-PP +vice NN B-NP +chairman NN I-NP +of IN B-PP +Carlyle NNP B-NP +Group NNP I-NP +, , O +a DT B-NP +merchant NN I-NP +banking NN I-NP +concern NN I-NP +. . O + +SHEARSON NNP B-NP +LEHMAN NNP I-NP +HUTTON NNP I-NP +Inc NNP I-NP +. . O + +Thomas NNP B-NP +E. NNP I-NP +Meador NNP I-NP +, , O +42 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +was VBD B-VP +named VBN I-VP +president NN B-NP +and CC O +chief JJ B-NP +operating VBG I-NP +officer NN I-NP +of IN B-PP +Balcor NNP B-NP +Co. NNP I-NP +, , O +a DT B-NP +Skokie NNP I-NP +, , I-NP +Ill. NNP I-NP +, , I-NP +subsidiary NN I-NP +of IN B-PP +this DT B-NP +New NNP I-NP +York NNP I-NP +investment NN I-NP +banking NN I-NP +firm NN I-NP +. . O + +Balcor NNP B-NP +, , O +which WDT B-NP +has VBZ B-VP +interests NNS B-NP +in IN B-PP +real JJ B-NP +estate NN I-NP +, , O +said VBD B-VP +the DT B-NP +position NN I-NP +is VBZ B-VP +newly RB I-VP +created VBN I-VP +. . O + +Mr. NNP B-NP +Meador NNP I-NP +had VBD B-VP +been VBN I-VP +executive JJ B-NP +vice NN I-NP +president NN I-NP +of IN B-PP +Balcor NNP B-NP +. . O + +In IN B-PP +addition NN B-NP +to TO B-PP +his PRP$ B-NP +previous JJ I-NP +real-estate NN I-NP +investment NN I-NP +and CC I-NP +asset-management NN I-NP +duties NNS I-NP +, , O +Mr. NNP B-NP +Meador NNP I-NP +takes VBZ B-VP +responsibility NN B-NP +for IN B-PP +development NN B-NP +and CC O +property NN B-NP +management NN I-NP +. . O + +Those DT B-NP +duties NNS I-NP +had VBD B-VP +been VBN I-VP +held VBN I-VP +by IN B-PP +Van NNP B-NP +Pell NNP I-NP +, , O +44 CD B-NP +, , O +who WP B-NP +resigned VBD B-VP +as IN B-PP +an DT B-NP +executive JJ I-NP +vice NN I-NP +president NN I-NP +. . O + +Shearson NNP B-NP +is VBZ B-VP +about IN B-ADJP +60%-held JJ I-ADJP +by IN B-PP +American NNP B-NP +Express NNP I-NP +Co NNP I-NP +. . O + +Great NNP B-NP +American NNP I-NP +Bank NNP I-NP +, , O +citing VBG B-VP +depressed JJ B-NP +Arizona NNP I-NP +real JJ I-NP +estate NN I-NP +prices NNS I-NP +, , O +posted VBD B-VP +a DT B-NP +third-quarter JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +59.4 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +2.48 CD I-NP +a DT B-NP +share NN I-NP +. . O + +A DT B-NP +year NN I-NP +earlier RBR B-ADVP +, , O +the DT B-NP +savings NNS I-NP +bank VBP I-NP +had VBD B-VP +earnings NNS B-NP +of IN B-PP +$ $ B-NP +8.1 CD I-NP +million CD I-NP +, , O +or CC O +33 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +it PRP B-NP +had VBD B-VP +a DT B-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +58.3 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +2.44 CD I-NP +a DT B-NP +share NN I-NP +, , O +after IN B-PP +earnings NNS B-NP +of IN B-PP +$ $ B-NP +29.5 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.20 CD I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +the DT B-NP +1988 CD I-NP +period NN I-NP +. . O + +Great NNP B-NP +American NNP I-NP +said VBD B-VP +it PRP B-NP +increased VBD B-VP +its PRP$ B-NP +loan-loss NN I-NP +reserves NNS I-NP +by IN B-PP +$ $ B-NP +93 CD I-NP +million CD I-NP +after IN B-PP +reviewing VBG B-VP +its PRP$ B-NP +loan NN I-NP +portfolio NN I-NP +, , O +raising VBG B-VP +its PRP$ B-NP +total JJ I-NP +loan NN I-NP +and CC I-NP +real JJ I-NP +estate NN I-NP +reserves NNS I-NP +to TO B-PP +$ $ B-NP +217 CD I-NP +million CD I-NP +. . O + +Before IN B-PP +the DT B-NP +loan-loss NN I-NP +addition NN I-NP +, , O +it PRP B-NP +said VBD B-VP +, , O +it PRP B-NP +had VBD B-VP +operating VBG B-NP +profit NN I-NP +of IN B-PP +$ $ B-NP +10 CD I-NP +million CD I-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +. . O + +The DT B-NP +move NN I-NP +followed VBD B-VP +a DT B-NP +round NN I-NP +of IN B-PP +similar JJ B-NP +increases NNS I-NP +by IN B-PP +other JJ B-NP +lenders NNS I-NP +against IN B-PP +Arizona NNP B-NP +real JJ I-NP +estate NN I-NP +loans NNS I-NP +, , O +reflecting VBG B-VP +a DT B-NP +continuing VBG I-NP +decline NN I-NP +in IN B-PP +that DT B-NP +market NN I-NP +. . O + +In IN B-PP +addition NN B-NP +to TO B-PP +the DT B-NP +increased VBN I-NP +reserve NN I-NP +, , O +the DT B-NP +savings NNS I-NP +bank VBP I-NP +took VBD B-VP +a DT B-NP +special JJ I-NP +charge NN I-NP +of IN B-PP +$ $ B-NP +5 NN I-NP +million CD I-NP +representing VBG B-VP +general JJ B-NP +and CC I-NP +administrative JJ I-NP +expenses NNS I-NP +from IN B-PP +staff NN B-NP +reductions NNS I-NP +and CC O +other JJ B-NP +matters NNS I-NP +, , O +and CC O +it PRP B-NP +posted VBD B-VP +a DT B-NP +$ $ I-NP +7.6 CD I-NP +million CD I-NP +reduction NN I-NP +in IN B-PP +expected VBN B-NP +mortgage NN I-NP +servicing NN I-NP +fees NNS I-NP +, , O +reflecting VBG B-VP +the DT B-NP +fact NN I-NP +that IN B-SBAR +more JJR B-NP +borrowers NNS I-NP +are VBP B-VP +prepaying VBG I-VP +their PRP$ B-NP +mortgages NNS I-NP +. . O + +Arbitragers NNS B-NP +were VBD B-VP +n't RB O +the DT B-NP +only RB I-NP +big JJ I-NP +losers NNS I-NP +in IN B-PP +the DT B-NP +collapse NN I-NP +of IN B-PP +UAL NNP B-NP +Corp. NNP I-NP +stock NN I-NP +. . O + +Look VB B-VP +at IN B-PP +what WP B-NP +happened VBD B-VP +to TO B-PP +UAL NNP B-NP +'s POS B-NP +chairman NN I-NP +, , O +Stephen NNP B-NP +M. NNP I-NP +Wolf NNP I-NP +, , O +and CC O +its PRP$ B-NP +chief JJ I-NP +financial JJ I-NP +officer NN I-NP +, , O +John NNP B-NP +C. NNP I-NP +Pope NNP I-NP +. . O + +On IN B-PP +a DT B-NP +day NN I-NP +some DT B-NP +United NNP I-NP +Airlines NNPS I-NP +employees NNS I-NP +wanted VBD B-VP +Mr. NNP B-NP +Wolf NNP I-NP +fired VBD B-VP +and CC O +takeover NN B-NP +stock NN I-NP +speculators NNS I-NP +wanted VBD B-VP +his PRP$ B-NP +scalp NN I-NP +, , O +Messrs. NNP B-NP +Wolf NNP I-NP +and CC I-NP +Pope NNP I-NP +saw VBD B-VP +their PRP$ B-NP +prospective JJ I-NP +personal JJ I-NP +fortunes NNS I-NP +continue VBP B-VP +to TO I-VP +plummet VB I-VP +as IN B-SBAR +shares NNS B-NP +of IN B-PP +UAL NNP B-NP +, , O +United NNP B-NP +'s POS B-NP +parent NN I-NP +company NN I-NP +, , O +dived VBD B-VP +$ $ B-NP +24.875 CD I-NP +on IN B-PP +the DT B-NP +Big NNP I-NP +Board NNP I-NP +to TO B-VP +close VB I-VP +at IN B-PP +$ $ B-NP +198 CD I-NP +. . O + +Including VBG O +Monday NNP B-NP +'s POS B-NP +plunge NN I-NP +, , O +that WDT B-NP +has VBZ B-VP +given VBN I-VP +the DT B-NP +two CD I-NP +executives NNS I-NP +paper NN B-NP +losses NNS I-NP +of IN B-PP +$ $ B-NP +49.5 CD I-NP +million CD I-NP +, , O +based VBN B-VP +on IN B-PP +what WP B-NP +they PRP B-NP +would MD B-VP +have VB I-VP +realized VBN I-VP +had VBN O +the DT B-NP +pilots NNS I-NP +and CC I-NP +management-led JJ I-NP +buy-out NN I-NP +of IN B-PP +UAL NNP B-NP +gone VBN B-VP +through IN B-ADVP +at IN B-PP +$ $ B-NP +300 CD I-NP +a DT B-NP +share NN I-NP +. . O + +When WRB B-ADVP +bank NN B-NP +financing NN I-NP +for IN B-PP +the DT B-NP +buy-out NN I-NP +collapsed VBD B-VP +last JJ B-NP +week NN I-NP +, , O +so RB B-ADVP +did VBD O +UAL NNP B-NP +'s POS B-NP +stock NN I-NP +. . O + +Even RB B-ADVP +if IN B-SBAR +the DT B-NP +banks NNS I-NP +resurrect VBP B-VP +a DT B-NP +financing NN I-NP +package NN I-NP +at IN B-PP +$ $ B-NP +250 CD I-NP +a DT B-NP +share NN I-NP +, , O +the DT B-NP +two CD I-NP +executives NNS I-NP +would MD B-VP +still RB I-VP +get VB I-VP +about RB B-NP +$ $ I-NP +25 CD I-NP +million CD I-NP +less JJR B-NP +than IN B-SBAR +they PRP B-NP +stood VBD B-VP +to TO I-VP +gain VB I-VP +in IN B-PP +the DT B-NP +initial JJ I-NP +transaction NN I-NP +. . O + +Mr. NNP B-NP +Wolf NNP I-NP +owns VBZ B-VP +75,000 CD B-NP +UAL NNP I-NP +shares NNS I-NP +and CC O +has VBZ B-VP +options NNS B-NP +to TO B-VP +buy VB I-VP +another DT B-NP +250,000 CD I-NP +at IN B-PP +$ $ B-NP +83.3125 CD I-NP +each DT B-NP +. . O + +In IN B-PP +the DT B-NP +$ $ I-NP +300-a-share JJ I-NP +buyout NN I-NP +, , O +that WDT B-NP +totaled VBD B-VP +about RB B-NP +$ $ I-NP +76.7 CD I-NP +million CD I-NP +. . O + +By IN B-PP +yesterday NN B-NP +'s POS B-NP +close NN I-NP +of IN B-PP +trading NN B-NP +, , O +it PRP B-NP +was VBD B-VP +good JJ B-ADJP +for IN B-PP +a DT B-NP +paltry JJ I-NP +$ $ I-NP +43.5 CD I-NP +million CD I-NP +. . O + +Of IN B-PP +course NN B-NP +, , O +Mr. NNP B-NP +Wolf NNP I-NP +, , O +48 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +has VBZ B-VP +some DT B-NP +savings NNS I-NP +. . O + +He PRP B-NP +left VBD B-VP +his PRP$ B-NP +last JJ I-NP +two CD I-NP +jobs NNS I-NP +at IN B-PP +Republic NNP B-NP +Airlines NNPS I-NP +and CC O +Flying NNP B-NP +Tiger NNP I-NP +with IN B-PP +combined VBN B-NP +stock-option NN I-NP +gains NNS I-NP +of IN B-PP +about RB B-NP +$ $ I-NP +22 CD I-NP +million CD I-NP +, , O +and CC O +UAL NNP B-NP +gave VBD B-VP +him PRP B-NP +a DT B-NP +$ $ I-NP +15 CD I-NP +million CD I-NP +bonus NN I-NP +when WRB B-ADVP +it PRP B-NP +hired VBD B-VP +him PRP B-NP +. . O + +His PRP$ B-NP +1988 CD I-NP +salary NN I-NP +was VBD B-VP +$ $ B-NP +575,000 CD I-NP +, , O +with IN B-PP +a DT B-NP +$ $ I-NP +575,000 CD I-NP +bonus NN I-NP +. . O + +The DT B-NP +40-year JJ I-NP +old JJ I-NP +Mr. NNP I-NP +Pope NNP I-NP +has VBZ B-VP +n't RB I-VP +changed VBN I-VP +jobs NNS B-NP +enough RB B-ADVP +-- : O +at IN B-PP +least JJS B-ADJP +the DT B-NP +right NN I-NP +ones NNS I-NP +-- : O +to TO B-VP +stash VB I-VP +away RB B-ADVP +that DT B-NP +kind NN I-NP +of IN B-PP +money NN B-NP +. . O + +United NNP B-NP +paid VBD B-VP +him PRP B-NP +a DT B-NP +$ $ I-NP +375,000 CD I-NP +bonus NN I-NP +to TO B-VP +lure VB I-VP +him PRP B-NP +away RB B-PP +from IN B-PP +American NNP B-NP +Airlines NNPS I-NP +, , O +and CC O +he PRP B-NP +was VBD B-VP +paid VBN I-VP +a DT B-NP +salary NN I-NP +of IN B-PP +$ $ B-NP +342,122 CD I-NP +last JJ B-NP +year NN I-NP +with IN B-PP +a DT B-NP +$ $ I-NP +280,000 CD I-NP +bonus NN I-NP +. . O + +Mr. NNP B-NP +Pope NNP I-NP +owns VBZ B-VP +10,000 CD B-NP +UAL NNP I-NP +shares NNS I-NP +and CC O +has VBZ B-VP +options NNS B-NP +to TO B-VP +buy VB I-VP +another DT B-NP +150,000 CD I-NP +at IN B-PP +$ $ B-NP +69 CD I-NP +each DT B-NP +. . O + +That DT B-NP +came VBD B-VP +to TO B-PP +a DT B-NP +combined VBN I-NP +$ $ I-NP +37.7 CD I-NP +million CD I-NP +under IN B-PP +the DT B-NP +$ $ I-NP +300-a-share JJ I-NP +buy-out NN I-NP +, , O +but CC O +just RB B-NP +$ $ I-NP +21.3 CD I-NP +million CD I-NP +at IN B-PP +yesterday NN B-NP +'s POS B-NP +close NN I-NP +. . O + +Of IN B-PP +the DT B-NP +combined VBN I-NP +$ $ I-NP +114.4 CD I-NP +million CD I-NP +the DT B-NP +two CD I-NP +men NNS I-NP +were VBD B-VP +scheduled VBN I-VP +to TO I-VP +reap VB I-VP +under IN B-PP +the DT B-NP +buy-out NN I-NP +, , O +they PRP B-NP +agreed VBD B-VP +to TO I-VP +invest VB I-VP +in IN B-PP +the DT B-NP +buy-out NN I-NP +just RB B-NP +$ $ I-NP +15 CD I-NP +million CD I-NP +, , O +angering VBG B-VP +many NN B-NP +of IN B-PP +the DT B-NP +thousands NNS I-NP +of IN B-PP +workers NNS B-NP +asked VBD B-VP +to TO B-VP +make VB I-VP +pay NN B-NP +concessions NNS I-NP +so RB B-SBAR +the DT B-NP +buy-out NN I-NP +would MD B-VP +be VB I-VP +a DT B-NP +success NN I-NP +. . O + +United NNP B-NP +'s POS B-NP +directors NNS I-NP +voted VBD B-VP +themselves PRP B-NP +, , O +and CC O +their PRP$ B-NP +spouses NNS I-NP +, , O +lifetime NN B-NP +access NN I-NP +to TO B-PP +the DT B-NP +Friendly NNP I-NP +Skies NNPS I-NP +-- : O +free JJ B-NP +first-class JJ I-NP +travel NN I-NP +, , O +and CC O +$ $ B-NP +20,000 CD I-NP +a DT B-NP +year NN I-NP +for IN B-PP +life NN B-NP +as IN B-ADVP +well RB I-ADVP +. . O + +Conceivably RB B-ADVP +, , O +in IN B-PP +a DT B-NP +scaled-back JJ I-NP +buy-out NN I-NP +, , O +they PRP B-NP +could MD B-VP +be VB I-VP +bumped VBN I-VP +back RB B-ADVP +to TO B-PP +coach NN B-NP +seats NNS I-NP +for IN B-PP +life NN B-NP +. . O + +Thomas NNP B-NP +H. NNP I-NP +Johnson NNP I-NP +, , O +president NN B-NP +of IN B-PP +the DT B-NP +Coatedboard NNP I-NP +division NN I-NP +of IN B-PP +Mead NNP B-NP +Corp. NNP I-NP +, , O +was VBD B-VP +named VBN I-VP +president NN B-NP +of IN B-PP +Manville NNP B-NP +Forest NNP I-NP +Products NNP I-NP +Corp. NNP I-NP +, , O +a DT B-NP +Manville NNP I-NP +unit NN I-NP +, , O +and CC O +senior JJ B-NP +vice NN I-NP +president NN I-NP +of IN B-PP +Manville NNP B-NP +Corp NNP I-NP +. . O + +Mr. NNP B-NP +Johnson NNP I-NP +succeeds VBZ B-VP +Harry NNP B-NP +W. NNP I-NP +Sherman NNP I-NP +, , O +who WP B-NP +resigned VBD B-VP +to TO B-VP +pursue VB I-VP +other JJ B-NP +interests NNS I-NP +, , O +in IN B-PP +both DT B-NP +positions NNS I-NP +. . O + +Manville NNP B-NP +is VBZ B-VP +a DT B-NP +building NN I-NP +and CC I-NP +forest NN I-NP +products NNS I-NP +concern VBP I-NP +. . O + +US PRP B-NP +Facilities NNP I-NP +Corp. NNP I-NP +said VBD B-VP +Robert NNP B-NP +J. NNP I-NP +Percival NNP I-NP +agreed VBD B-VP +to TO I-VP +step VB I-VP +down RB B-ADVP +as IN B-PP +vice NN B-NP +chairman NN I-NP +of IN B-PP +the DT B-NP +insurance NN I-NP +holding VBG I-NP +company NN I-NP +. . O + +`` `` O +There EX B-NP +was VBD B-VP +a DT B-NP +difference NN I-NP +of IN B-PP +opinion NN B-NP +as IN B-PP +to TO B-PP +the DT B-NP +future NN I-NP +direction NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +, , O +'' '' O +a DT B-NP +spokeswoman NN I-NP +said VBD B-VP +. . O + +Mr. NNP B-NP +Percival NNP I-NP +declined VBD B-VP +to TO I-VP +comment VB I-VP +. . O + +In IN B-PP +a DT B-NP +statement NN I-NP +, , O +US PRP B-NP +Facilities NNPS I-NP +said VBD B-VP +Mr. NNP B-NP +Percival NNP I-NP +'s POS B-NP +employment NN I-NP +contract NN I-NP +calls VBZ B-VP +for IN B-SBAR +him PRP B-NP +to TO B-VP +act VB I-VP +as IN B-PP +a DT B-NP +consultant NN I-NP +to TO B-PP +the DT B-NP +company NN I-NP +for IN B-PP +two CD B-NP +years NNS I-NP +. . O + +He PRP B-NP +will MD B-VP +also RB I-VP +remain VB I-VP +a DT B-NP +director NN I-NP +, , O +US PRP B-NP +Facilities NNPS I-NP +said VBD B-VP +, , O +but CC O +wo MD B-VP +n't RB I-VP +serve VB I-VP +on IN B-PP +any DT B-NP +board NN I-NP +committees NNS I-NP +. . O + +Mr. NNP B-NP +Percival NNP I-NP +will MD B-VP +be VB I-VP +succeeded VBN I-VP +on IN B-PP +an DT B-NP +interim JJ I-NP +basis NN I-NP +by IN B-PP +George NNP B-NP +Kadonada NNP I-NP +, , O +US PRP B-NP +Facilities NNPS I-NP +chairman NN I-NP +and CC I-NP +president NN I-NP +. . O + +In IN B-PP +the DT B-NP +same JJ I-NP +statement NN I-NP +, , O +US PRP B-NP +Facilities NNPS I-NP +also RB B-ADVP +said VBD B-VP +it PRP B-NP +had VBD B-VP +bought VBN I-VP +back RB B-ADVP +112,000 CD B-NP +of IN B-PP +its PRP$ B-NP +common JJ I-NP +shares NNS I-NP +in IN B-PP +a DT B-NP +private JJ I-NP +transaction NN I-NP +. . O + +Terms NNS B-NP +were VBD B-VP +n't RB I-VP +disclosed VBN I-VP +. . O + +The DT B-NP +buy-back NN I-NP +represents VBZ B-VP +about IN B-NP +3 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +shares NNS I-NP +, , O +based VBN B-VP +on IN B-PP +the DT B-NP +3.7 CD I-NP +million CD I-NP +shares NNS I-NP +outstanding JJ B-ADJP +as IN B-PP +of IN B-PP +Sept. NNP B-NP +30 CD I-NP +. . O + +In IN B-PP +national JJ B-NP +over-the-counter JJ I-NP +trading NN I-NP +yesterday NN B-NP +, , O +US PRP B-NP +Facilities NNPS I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +3.625 CD I-NP +, , O +unchanged JJ B-ADJP +. . O + +Three CD B-NP +leading VBG I-NP +drug NN I-NP +companies NNS I-NP +reported VBD B-VP +robust JJ B-NP +third-quarter JJ I-NP +earnings NNS I-NP +, , O +bolstered VBN B-VP +by IN B-PP +strong JJ B-NP +sales NNS I-NP +of IN B-PP +newer JJR B-NP +, , I-NP +big-selling JJ I-NP +prescriptions NNS I-NP +drugs NNS I-NP +that WDT B-NP +provide VBP B-VP +hefty JJ B-NP +profit NN I-NP +margins NNS I-NP +. . O + +Merck NNP B-NP +& CC I-NP +Co. NNP I-NP +reported VBD B-VP +a DT B-NP +25 CD I-NP +% NN I-NP +increase NN I-NP +in IN B-PP +earnings NNS B-NP +; : O +Warner-Lambert NNP B-NP +Co. NNP I-NP +'s POS B-NP +profit NN I-NP +rose VBD B-VP +22 CD B-NP +% NN I-NP +and CC O +Eli NNP B-NP +Lilly NNP I-NP +& CC I-NP +Co. NNP I-NP +'s POS B-NP +net JJ I-NP +income NN I-NP +rose VBD B-VP +24 CD B-NP +% NN I-NP +. . O + +The DT B-NP +results NNS I-NP +were VBD B-VP +in IN B-PP +line NN B-NP +with IN B-PP +analysts NNS B-NP +' POS B-NP +expectations NNS I-NP +. . O + +Merck NNP B-NP +& CC I-NP +Co NNP I-NP +. . O + +Merck NNP B-NP +, , O +Rahway NNP B-NP +, , O +N.J. NNP B-NP +, , O +continued VBD B-VP +to TO I-VP +lead VB I-VP +the DT B-NP +industry NN I-NP +with IN B-PP +a DT B-NP +strong JJ I-NP +sales NNS I-NP +performance NN I-NP +in IN B-PP +the DT B-NP +human NN I-NP +and CC I-NP +animal NN I-NP +health-products NNS I-NP +segment VBP I-NP +. . O + +A DT B-NP +stronger JJR I-NP +U.S. NNP I-NP +dollar NN I-NP +reduced VBD B-VP +third-quarter JJ B-NP +and CC I-NP +first-nine-month JJ I-NP +sales NNS I-NP +growth NN I-NP +2 CD B-NP +% NN I-NP +and CC I-NP +3 CD I-NP +% NN I-NP +, , O +respectively RB B-ADVP +. . O + +International JJ B-NP +sales NNS I-NP +accounted VBD B-VP +for IN B-PP +47 CD B-NP +% NN I-NP +of IN B-PP +total JJ B-NP +company NN I-NP +sales NNS I-NP +for IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +compared VBN B-PP +with IN B-PP +50 CD B-NP +% NN I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Sales NNS B-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +1.63 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +1.47 CD I-NP +billion CD I-NP +. . O + +Mevacor NNP B-NP +, , O +Merck NNP B-NP +'s POS B-NP +new JJ I-NP +cholesterol-lowering JJ I-NP +drug NN I-NP +, , O +had VBD B-VP +higher JJR B-NP +sales NNS I-NP +than IN B-SBAR +any DT B-NP +other JJ I-NP +prescription NN I-NP +medicine NN I-NP +has VBZ B-VP +ever RB I-VP +achieved VBN I-VP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +in IN B-PP +the DT B-NP +year NN I-NP +following VBG B-PP +introduction NN B-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +. . O + +The DT B-NP +drug NN I-NP +was VBD B-VP +introduced VBN I-VP +in IN B-PP +West NNP B-NP +Germany NNP I-NP +this DT B-NP +year NN I-NP +. . O + +Intense JJ B-NP +competition NN I-NP +, , O +however RB B-ADVP +, , O +led VBN B-VP +to TO B-PP +unit NN B-NP +sales NNS I-NP +declines NNS I-NP +for IN B-PP +a DT B-NP +group NN I-NP +of IN B-PP +Merck NNP B-NP +'s POS B-NP +established VBN I-NP +human NN I-NP +and CC I-NP +animal-health NN I-NP +products NNS I-NP +, , O +including VBG B-PP +Aldomet NNP B-NP +and CC I-NP +Indocin NNP I-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +yesterday NN B-NP +, , O +Merck NNP B-NP +shares NNS I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +75.25 CD I-NP +, , O +up IN B-ADVP +50 CD B-NP +cents NNS I-NP +. . O + +Warner-Lambert NNP B-NP +Co NNP I-NP +. . O + +Warner-Lambert NNP B-NP +, , O +Morris NNP B-NP +Plains NNP I-NP +, , O +N.J. NNP B-NP +, , O +reported VBD B-VP +sales NNS B-NP +that WDT B-NP +were VBD B-VP +a DT B-NP +record NN I-NP +for IN B-PP +any DT B-NP +quarter NN I-NP +and CC O +the DT B-NP +eighth JJ I-NP +quarter NN I-NP +in IN B-PP +a DT B-NP +row NN I-NP +of IN B-PP +20 CD B-NP +% NN I-NP +or CC I-NP +more RBR I-NP +per-share JJ I-NP +earnings NNS I-NP +growth NN I-NP +. . O + +Spurred VBN B-VP +by IN B-PP +growth NN B-NP +in IN B-PP +world-wide JJ B-NP +sales NNS I-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +prescription NN I-NP +drugs NNS I-NP +, , O +Warner-Lambert NNP B-NP +said VBD B-VP +1989 CD B-NP +will MD B-VP +be VB I-VP +the DT B-NP +best JJS I-NP +year NN I-NP +in IN B-PP +its PRP$ B-NP +history NN I-NP +, , O +with IN B-SBAR +per-share JJ B-NP +earnings NNS I-NP +expected VBN B-VP +to TO I-VP +increase VB I-VP +more JJR B-NP +than IN I-NP +20 CD I-NP +% NN I-NP +to TO B-PP +about RB B-NP +$ $ I-NP +6.10 CD I-NP +. . O + +Sales NNS B-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +1.11 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +1.03 CD I-NP +billion CD I-NP +. . O + +Prescription-drug NN B-NP +world-wide JJ I-NP +sales NNS I-NP +rose VBD B-VP +9 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +quarter NN I-NP +to TO B-PP +$ $ B-NP +340 CD I-NP +million CD I-NP +; : O +U.S. NNP B-NP +sales NNS I-NP +rose VBD B-VP +15 CD B-NP +% NN I-NP +. . O + +The DT B-NP +segment NN I-NP +'s POS B-NP +growth NN I-NP +was VBD B-VP +led VBN I-VP +by IN B-PP +sales NNS B-NP +of IN B-PP +the DT B-NP +cardiovascular JJ I-NP +drugs NNS I-NP +Lopid NNP B-NP +, , O +a DT B-NP +lipid NN I-NP +regulator NN I-NP +, , O +and CC O +Dilzem NNP B-NP +, , O +a DT B-NP +calcium NN I-NP +channel NN I-NP +blocker NN I-NP +. . O + +World-wide JJ B-NP +sales NNS I-NP +of IN B-PP +Warner-Lambert NNP B-NP +'s POS B-NP +non-prescription JJ I-NP +health-care NN I-NP +products NNS I-NP +, , O +such JJ B-PP +as IN I-PP +Halls NNP B-NP +cough NN I-NP +tablets NNS I-NP +, , O +Rolaids NNP B-NP +antacid NN I-NP +, , O +and CC O +Lubriderm NNP B-NP +skin NN I-NP +lotion NN I-NP +, , O +increased VBN B-VP +3 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +362 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +; : O +U.S. NNP B-NP +sales NNS I-NP +rose VBD B-VP +5 NN B-NP +% NN I-NP +. . O + +Confectionery JJ B-NP +products NNS I-NP +sales NNS I-NP +also RB B-ADVP +had VBD B-VP +strong JJ B-NP +growth NN I-NP +in IN B-PP +the DT B-NP +quarter NN I-NP +. . O + +World-wide JJ B-NP +sales NNS I-NP +of IN B-PP +Trident NNP B-NP +gum NN I-NP +, , O +Certs NNP B-NP +breath NN I-NP +mints NNS I-NP +, , O +and CC O +Clorets NNP B-NP +gum NN I-NP +and CC I-NP +breath NN I-NP +mints NNS I-NP +, , O +increased VBN B-VP +12 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +277 CD I-NP +million CD I-NP +. . O + +Warner-Lambert NNP B-NP +shares NNS I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +109.50 CD I-NP +a DT B-NP +share NN I-NP +, , O +up IN B-ADVP +$ $ B-NP +1.50 CD I-NP +, , O +in IN B-PP +Big NNP B-NP +Board NNP I-NP +composite JJ I-NP +trading NN I-NP +yesterday NN B-NP +. . O + +Eli NNP B-NP +Lilly NNP I-NP +& CC I-NP +Co NNP I-NP +. . O + +Lilly NNP B-NP +attributed VBD B-VP +record NN B-NP +third-quarter JJ I-NP +and CC I-NP +nine-month JJ I-NP +results NNS I-NP +to TO B-PP +world-wide JJ B-NP +gains NNS I-NP +for IN B-PP +pharmaceuticals NNS B-NP +, , O +medical JJ B-NP +instruments NNS I-NP +and CC O +plant-science NN B-NP +products NNS I-NP +despite IN B-PP +poor JJ B-NP +exchange NN I-NP +rates NNS I-NP +for IN B-PP +the DT B-NP +dollar NN I-NP +that WDT B-NP +slowed VBD B-VP +sales NNS B-NP +abroad RB B-ADVP +. . O + +Earnings NNS B-NP +continued VBD B-VP +to TO I-VP +pace VB I-VP +sales NNS B-NP +because IN B-PP +of IN I-PP +a DT B-NP +lower JJR I-NP +tax NN I-NP +rate NN I-NP +, , O +profit NN B-NP +from IN B-PP +the DT B-NP +renegotiation NN I-NP +of IN B-PP +the DT B-NP +debt NN I-NP +instrument NN I-NP +received VBD B-VP +from IN B-PP +Faberge NNP B-NP +Inc. NNP I-NP +in IN B-PP +connection NN B-NP +with IN B-PP +Lilly NNP B-NP +'s POS B-NP +sale NN I-NP +of IN B-PP +Elizabeth NNP B-NP +Arden NNP I-NP +Inc. NNP I-NP +in IN B-PP +1987 CD B-NP +, , O +and CC O +net JJ B-NP +proceeds NNS I-NP +from IN B-PP +the DT B-NP +settlement NN I-NP +of IN B-PP +patent NN B-NP +litigation NN I-NP +at IN B-PP +Lilly NNP B-NP +'s POS B-NP +Hybritech NNP I-NP +Inc. NNP I-NP +unit NN I-NP +. . O + +Third-quarter JJ B-NP +sales NNS I-NP +of IN B-PP +the DT B-NP +Indianapolis NNP I-NP +, , I-NP +Ind. NNP I-NP +, , I-NP +company NN I-NP +rose VBD B-VP +11 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +1.045 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +940.6 CD I-NP +million CD I-NP +. . O + +Nine-month JJ B-NP +sales NNS I-NP +grew VBD B-VP +12 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +3.39 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +3.03 CD I-NP +billion CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Sales NNS B-NP +of IN B-PP +Prozac NNP B-NP +, , O +an DT B-NP +anti-depressant NN I-NP +, , O +led VBN B-VP +drug-sales NNS B-NP +increases NNS I-NP +. . O + +Higher JJR B-NP +sales NNS I-NP +of IN B-PP +pesticides NNS B-NP +and CC O +other JJ B-NP +plant-science NN I-NP +products NNS I-NP +more JJR B-VP +than IN I-VP +offset VB I-VP +a DT B-NP +slight JJ I-NP +decline NN I-NP +in IN B-PP +the DT B-NP +sales NNS I-NP +of IN B-PP +animal-health NN B-NP +products NNS I-NP +to TO B-VP +fuel VB I-VP +the DT B-NP +increase NN I-NP +in IN B-PP +world-wide JJ B-NP +agricultural JJ I-NP +product NN I-NP +sales NNS I-NP +, , O +Lilly NNP B-NP +said VBD B-VP +. . O + +Advanced NNP B-NP +Cardiovascular NNP I-NP +Systems NNP I-NP +Inc. NNP I-NP +and CC O +Cardiac NNP B-NP +Pacemakers NNPS I-NP +Inc. NNP I-NP +units NNS I-NP +led VBD B-VP +growth NN B-NP +in IN B-PP +the DT B-NP +medical-instrument JJ I-NP +systems NNS I-NP +division NN I-NP +. . O + +Lilly NNP B-NP +shares NNS I-NP +closed VBD B-VP +yesterday NN B-NP +in IN B-PP +composite JJ B-NP +trading NN I-NP +on IN B-PP +the DT B-NP +Big NNP I-NP +Board NNP I-NP +at IN B-PP +$ $ B-NP +62.25 CD I-NP +, , O +down RB B-ADVP +12.5 CD B-NP +cents NNS I-NP +. . O + +Reuben NNP B-NP +Mark NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +Colgate-Palmolive NNP B-NP +Co. NNP I-NP +, , O +said VBD B-VP +he PRP B-NP +is VBZ B-VP +`` `` B-ADJP +comfortable JJ I-ADJP +'' '' O +with IN B-PP +analysts NNS B-NP +' POS B-NP +estimates NNS I-NP +that IN B-SBAR +third-quarter JJ B-NP +earnings NNS I-NP +rose VBD B-VP +to TO B-PP +between IN B-NP +95 CD I-NP +cents NNS I-NP +and CC I-NP +$ $ I-NP +1.05 CD I-NP +a DT B-NP +share NN I-NP +. . O + +That DT B-NP +compares VBZ B-VP +with IN B-PP +per-share JJ B-NP +earnings NNS I-NP +from IN B-PP +continuing VBG B-NP +operations NNS I-NP +of IN B-PP +69 CD B-NP +cents NNS I-NP +the DT B-NP +year NN I-NP +earlier RBR B-ADVP +; : O +including VBG B-PP +discontinued VBN B-NP +operations NNS I-NP +, , O +per-share NN B-NP +was VBD B-VP +88 CD B-NP +cents NNS I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +The DT B-NP +per-share JJ I-NP +estimates NNS I-NP +mean VBP B-VP +the DT B-NP +consumer-products NNS I-NP +company NN I-NP +'s POS B-NP +net JJ I-NP +income NN I-NP +, , O +increased VBN B-VP +to TO B-PP +between IN B-NP +$ $ I-NP +69.5 CD I-NP +million CD I-NP +and CC I-NP +$ $ I-NP +76 CD I-NP +million CD I-NP +, , O +from IN B-PP +$ $ B-NP +47.1 CD I-NP +million CD I-NP +the DT B-NP +year-before JJ I-NP +period NN I-NP +. . O + +Analysts NNS B-NP +estimate VBP B-VP +Colgate NNP B-NP +'s POS B-NP +world-wide JJ I-NP +third-quarter JJ I-NP +sales NNS I-NP +rose VBD B-VP +about IN B-NP +8 CD I-NP +% NN I-NP +to TO B-PP +$ $ B-NP +1.29 CD I-NP +billion CD I-NP +. . O + +Mr. NNP B-NP +Mark NNP I-NP +attributed VBD B-VP +the DT B-NP +earnings NNS I-NP +growth NN I-NP +to TO B-PP +strong JJ B-NP +sales NNS I-NP +in IN B-PP +Latin NNP B-NP +America NNP I-NP +, , O +Asia NNP B-NP +and CC O +Europe NNP B-NP +. . O + +Results NNS B-NP +were VBD B-VP +also RB I-VP +bolstered VBN I-VP +by IN B-PP +`` `` B-NP +a DT I-NP +very RB I-NP +meaningful JJ I-NP +'' '' I-NP +increase NN I-NP +in IN B-PP +operating VBG B-NP +profit NN I-NP +by IN B-PP +Colgate NNP B-NP +'s POS B-NP +U.S. NNP I-NP +business NN I-NP +, , O +Mr. NNP B-NP +Mark NNP I-NP +said VBD B-VP +. . O + +Operating NN B-NP +profit NN I-NP +at IN B-PP +Colgate NNP B-NP +'s POS B-NP +U.S. NNP I-NP +household NN I-NP +products NNS I-NP +and CC I-NP +personal-care JJ I-NP +businesses NNS I-NP +jumped VBD B-VP +25 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +quarter NN I-NP +, , O +Mr. NNP B-NP +Mark NNP I-NP +added VBD B-VP +. . O + +He PRP B-NP +said VBD B-VP +the DT B-NP +improvement NN I-NP +was VBD B-VP +a DT B-NP +result NN I-NP +of IN B-PP +cost NN B-NP +savings NNS I-NP +achieved VBN B-VP +by IN B-PP +consolidating VBG B-VP +manufacturing NN B-NP +operations NNS B-NP +, , O +blending VBG B-VP +two CD B-NP +sales NNS I-NP +organizations NNS I-NP +and CC O +focusing VBG B-VP +more RBR B-ADVP +carefully RB I-ADVP +the DT B-NP +company NN I-NP +'s POS B-NP +promotional JJ I-NP +activities NNS I-NP +. . O + +The DT B-NP +estimated VBN I-NP +improvement NN I-NP +in IN B-PP +Colgate NNP B-NP +'s POS B-NP +U.S. NNP I-NP +operations NNS I-NP +took VBD B-VP +some DT B-NP +analysts NNS I-NP +by IN B-PP +surprise NN B-NP +. . O + +Colgate NNP B-NP +'s POS B-NP +household NN I-NP +products NNS I-NP +business NN I-NP +, , O +which WDT B-NP +includes VBZ B-VP +such JJ B-NP +brands NNS I-NP +as IN B-PP +Fab NNP B-NP +laundry NN I-NP +detergent NN I-NP +and CC O +Ajax NNP B-NP +cleanser NN I-NP +, , O +has VBZ B-VP +been VBN I-VP +a DT B-NP +weak JJ I-NP +performer NN I-NP +. . O + +Analysts NNS B-NP +estimate VBP B-VP +Colgate NNP B-NP +'s POS B-NP +sales NNS I-NP +of IN B-PP +household NN B-NP +products NNS I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +were VBD B-VP +flat JJ B-ADJP +for IN B-PP +the DT B-NP +quarter NN I-NP +, , O +and CC O +they PRP B-NP +estimated VBD B-VP +operating VBG B-NP +margins NNS I-NP +at IN B-PP +only RB B-NP +1 CD I-NP +% NN I-NP +to TO I-NP +3 CD I-NP +% NN I-NP +. . O + +`` `` O +If IN B-SBAR +you PRP B-NP +could MD B-VP +say VB I-VP +their PRP$ B-NP +business NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +was VBD B-VP +mediocre JJ B-ADJP +, , O +but CC O +great JJ B-ADJP +everywhere RB B-ADVP +else RB I-ADVP +, , O +that WDT B-NP +would MD B-VP +be VB I-VP +fine JJ B-ADJP +, , O +'' '' O +says VBZ B-VP +Bonita NNP B-NP +Austin NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +with IN B-PP +Wertheim NNP B-NP +Schroder NNP I-NP +& CC I-NP +Co NNP I-NP +. . O + +`` `` O +But CC O +it PRP B-NP +'s VBZ B-VP +not RB O +mediocre JJ B-ADJP +, , O +it PRP B-NP +'s VBZ B-VP +a DT B-NP +real JJ I-NP +problem NN I-NP +. . O +'' '' O + +Mr. NNP B-NP +Mark NNP I-NP +conceded VBD B-VP +that IN O +Colgate NNP B-NP +'s POS B-NP +domestic JJ I-NP +business NN I-NP +, , O +apart RB B-ADVP +from IN B-PP +its PRP$ O +highly RB O +profitable JJ O +Hill NNP B-NP +'s POS B-NP +Pet NNP I-NP +Products NNPS I-NP +unit NN I-NP +, , O +has VBZ B-VP +lagged VBN I-VP +. . O + +`` `` O +We PRP B-NP +'ve VBP B-VP +done VBN I-VP +a DT B-NP +lot NN I-NP +to TO B-VP +improve VB I-VP +-LCB- ( B-NP +U.S. NNP I-NP +. . I-NP +-RCB- ) I-NP +results NNS I-NP +, , O +and CC O +a DT B-NP +lot NN I-NP +more JJR I-NP +will MD B-VP +be VB I-VP +done VBN I-VP +, , O +'' '' O +Mr. NNP B-NP +Mark NNP I-NP +said VBD B-VP +. . O + +`` `` O +Improving VBG B-VP +profitability NN B-NP +of IN B-PP +U.S. NNP B-NP +operations NNS I-NP +is VBZ B-VP +an DT B-NP +extremely RB I-NP +high JJ I-NP +priority NN I-NP +in IN B-PP +the DT B-NP +company NN I-NP +. . O +'' '' O + +To TO B-VP +focus VB I-VP +on IN B-PP +its PRP$ B-NP +global JJ I-NP +consumer-products NNS I-NP +business NN I-NP +, , O +Colgate NNP B-NP +sold VBD B-VP +its PRP$ B-NP +Kendall NNP I-NP +health-care NN I-NP +business NN I-NP +in IN B-PP +1988 CD B-NP +. . O + +H. NNP B-NP +Anthony NNP I-NP +Ittleson NNP I-NP +was VBD B-VP +elected VBN I-VP +a DT B-NP +director NN I-NP +of IN B-PP +this DT B-NP +company NN I-NP +, , O +which WDT B-NP +primarily RB B-ADVP +has VBZ B-VP +interests NNS B-NP +in IN B-PP +radio NN B-NP +and CC I-NP +television NN I-NP +stations NNS I-NP +, , O +increasing VBG B-VP +the DT B-NP +number NN I-NP +of IN B-PP +seats NNS B-NP +to TO B-PP +five CD B-NP +. . O + +Osborn NNP B-NP +also RB B-ADVP +operates VBZ B-VP +Muzak NNP B-NP +franchises NNS I-NP +, , O +entertainment NN B-NP +properties NNS I-NP +and CC O +small JJ B-NP +cable-television NN I-NP +systems NNS I-NP +. . O + +Mr. NNP B-NP +Ittleson NNP I-NP +is VBZ B-VP +executive NN B-NP +, , O +special JJ B-NP +projects NNS I-NP +, , O +at IN B-PP +CIT NNP B-NP +Group NNP I-NP +Holdings NNP I-NP +Inc. NNP I-NP +, , O +which WDT B-NP +is VBZ B-VP +controlled VBN I-VP +by IN B-PP +Manufacturers NNP B-NP +Hanover NNP I-NP +Corp NNP I-NP +. . O + +The DT B-NP +Boston NNP I-NP +Globe NNP I-NP +says VBZ B-VP +its PRP$ B-NP +newly RB I-NP +redesigned VBN I-NP +pages NNS I-NP +have VBP B-VP +a DT B-NP +`` `` I-NP +crisper NN I-NP +'' '' I-NP +look VB I-NP +with IN B-PP +revamped VBN B-NP +fixtures NNS I-NP +aimed VBN B-VP +at IN B-PP +making VBG B-VP +the DT B-NP +paper NN I-NP +`` `` O +more RBR B-ADJP +consistent JJ I-ADJP +'' '' O +and CC O +`` `` O +easier JJR B-ADJP +to TO B-VP +read VB I-VP +. . O +'' '' O + +Maybe RB B-ADVP +so RB I-ADVP +-- : O +if IN B-SBAR +you PRP B-NP +can MD B-VP +find VB I-VP +where WRB B-ADVP +your PRP$ B-NP +favorite JJ I-NP +writer NN I-NP +went VBD B-VP +. . O + +Beantown NNP B-NP +scribes NNS I-NP +, , O +who WP B-NP +spare VB B-VP +no DT B-NP +invective NN I-NP +when WRB B-ADVP +taking VBG B-VP +on IN B-PRT +local JJ B-NP +luminaries NNS I-NP +such JJ B-PP +as IN I-PP +Michael NNP B-NP +`` `` I-NP +Pee NNP I-NP +Wee NNP I-NP +'' '' I-NP +Dukakis NNP I-NP +, , O +or CC O +New NNP B-NP +England NNP I-NP +Patriots NNPS I-NP +Coach NNP I-NP +Raymond NNP I-NP +`` `` I-NP +Rev. NNP I-NP +Ray NNP I-NP +'' '' I-NP +Berry NNP I-NP +, , O +yesterday NN B-NP +poured VBD B-VP +ridicule NN B-NP +on IN B-PP +new JJ B-NP +drawings NNS I-NP +of IN B-PP +Globe NNP B-NP +columnists NNS I-NP +that WDT B-NP +replaced VBD B-VP +old JJ B-NP +photos NNS I-NP +in IN B-PP +the DT B-NP +revamped VBN I-NP +pages NNS I-NP +this DT B-NP +week NN I-NP +. . O + +By IN B-PP +late JJ B-NP +last JJ I-NP +night NN I-NP +, , O +Globe NNP B-NP +Managing NNP I-NP +Editor NNP I-NP +Thomas NNP B-NP +Mulvoy NNP I-NP +, , O +bending VBG B-VP +to TO B-PP +the DT B-NP +will MD I-NP +of IN B-PP +his PRP$ B-NP +troops NNS I-NP +, , O +scrapped VBD B-VP +the DT B-NP +new JJ I-NP +drawings NNS I-NP +. . O + +For IN B-PP +a DT B-NP +few JJ I-NP +days NNS I-NP +at IN B-PP +least JJS B-ADJP +, , O +he PRP B-NP +says VBZ B-VP +, , O +no DT B-NP +pictures NNS I-NP +or CC I-NP +drawings NNS I-NP +of IN B-PP +any DT B-NP +kind NN I-NP +will MD B-VP +adorn VB I-VP +the DT B-NP +columns NNS I-NP +. . O + +Trouble NN B-NP +was VBD B-VP +, , O +nobody NN B-NP +thought VBD B-VP +they PRP B-NP +looked VBD B-VP +right NN B-ADJP +. . O + +Globe NNP B-NP +columnist NN I-NP +Mike NNP I-NP +Barnicle NNP I-NP +-- : O +in IN B-PP +the DT B-NP +second JJ I-NP +attack NN I-NP +on IN B-PP +his PRP$ B-NP +employer NN I-NP +in IN B-PP +as IN B-NP +many JJ I-NP +weeks NNS I-NP +-- : O +averred VBD B-VP +that IN B-SBAR +his PRP$ B-NP +shadowy JJ I-NP +countenance NN I-NP +was VBD B-VP +so RB B-ADJP +bad JJ I-ADJP +, , O +it PRP B-NP +looked VBD B-VP +`` `` O +like IN B-PP +a DT B-NP +face NN I-NP +you PRP B-NP +'d MD B-VP +find VB I-VP +on IN B-PP +a DT B-NP +bottle NN I-NP +of IN B-PP +miracle NN B-NP +elixir NN I-NP +that WDT B-NP +promises VBZ B-VP +to TO I-VP +do VB I-VP +away RB B-ADVP +with IN B-PP +diarrhea NN B-NP +in IN B-PP +our PRP$ B-NP +lifetime NN I-NP +. . O +'' '' O + +Mr. NNP B-NP +Barnicle NNP I-NP +reminded VBD B-VP +readers NNS B-NP +that IN B-SBAR +he PRP B-NP +still RB B-ADVP +has VBZ B-VP +n't RB I-VP +forgiven VBN I-VP +Globe NNP B-NP +management NN I-NP +for IN B-PP +questioning VBG B-VP +a DT B-NP +$ $ I-NP +20 CD I-NP +expense NN I-NP +chit NN I-NP +he PRP B-NP +submitted VBD B-VP +for IN B-PP +parking VBG B-VP +his PRP$ B-NP +car NN I-NP +while IN B-SBAR +chasing VBG B-VP +a DT B-NP +story NN I-NP +. . O + +`` `` O +I PRP B-NP +thought VBD B-VP +-LCB- ( O +the DT B-NP +drawing VBG I-NP +-RCB- ) O +a DT B-NP +cross NN I-NP +between IN B-PP +someone NN B-NP +you PRP B-NP +'d MD B-VP +spot VB I-VP +whipping VBG I-VP +open JJ I-VP +his PRP$ B-NP +trench NN I-NP +coat NN I-NP +... : O +or CC O +a DT B-NP +guy NN I-NP +who WP B-NP +boasted VBD B-VP +he PRP B-NP +'d MD B-VP +been VBN I-VP +Charles NNP B-NP +Manson NNP I-NP +'s POS B-NP +roommate NN I-NP +for IN B-PP +the DT B-NP +last JJ I-NP +19 CD I-NP +years NNS I-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +Mr. NNP B-NP +Barnicle NNP I-NP +was VBD B-VP +hardly RB B-ADJP +kinder JJR I-ADJP +to TO B-PP +the DT B-NP +renderings NNS I-NP +of IN B-PP +colleagues NNS B-NP +Michael NNP B-NP +Madden NNP I-NP +-LRB- ( O +`` `` O +appears VBZ B-VP +to TO I-VP +be VB I-VP +a DT B-NP +pervert NN I-NP +'' '' O +-RRB- ) O +, , O +Will MD B-NP +McDonough NNP I-NP +-LRB- ( O +`` `` O +looks VBZ B-VP +as IN B-SBAR +if IN I-SBAR +he PRP B-NP +drove VBD B-VP +for IN B-PP +Abe NNP B-NP +Lincoln NNP I-NP +'' '' O +-RRB- ) O +or CC O +Bella NNP B-NP +English NNP I-NP +, , O +whose WP$ B-NP +`` `` I-NP +little JJ I-NP +girl NN I-NP +now RB B-ADVP +screams VBZ B-VP +hysterically RB B-ADVP +every DT B-NP +time NN I-NP +she PRP B-NP +sees VBZ B-VP +a DT B-NP +newspaper NN I-NP +. . O +'' '' O + +Lynn NNP B-NP +Staley NNP I-NP +, , O +the DT B-NP +Globe NNP I-NP +'s POS B-NP +assistant NN I-NP +managing VBG I-NP +editor NN I-NP +for IN B-PP +design NN B-NP +, , O +acknowledges VBZ B-VP +that IN B-SBAR +the DT B-NP +visages NNS I-NP +were VBD B-VP +`` `` O +on IN B-PP +the DT B-NP +low JJ I-NP +end NN I-NP +of IN B-PP +the DT B-NP +likeness NN I-NP +spectrum NN I-NP +. . O +'' '' O + +Rival NNP B-NP +Boston NNP I-NP +Herald NNP I-NP +columnist NN I-NP +Howie NNP I-NP +Carr NNP I-NP +, , O +who WP B-NP +usually RB B-ADVP +rails VBZ B-VP +at IN B-PP +Statehouse NN B-NP +`` `` I-NP +hacks NNS I-NP +'' '' I-NP +and CC I-NP +nepotism NN I-NP +, , O +argued VBD B-VP +that IN B-SBAR +the DT B-NP +new JJ I-NP +drawings NNS I-NP +were VBD B-VP +designed VBN I-VP +to TO B-VP +hide VB I-VP +Mr. NNP B-NP +Madden NNP I-NP +'s POS B-NP +`` `` O +rapidly RB B-ADJP +growing VBG I-ADJP +forehead NN B-NP +'' '' O +and CC O +the DT B-NP +facial JJ I-NP +defects NNS I-NP +of IN B-PP +`` `` B-NP +chinless JJ I-NP +'' '' I-NP +Dan NNP I-NP +Shaughnessy NNP I-NP +, , O +a DT B-NP +Globe NNP I-NP +sports NNS I-NP +columnist NN I-NP +. . O + +`` `` O +But CC O +think VBP B-VP +of IN B-PP +the DT B-NP +money NN I-NP +you PRP B-NP +, , O +the DT B-NP +reader NN I-NP +, , O +will MD B-VP +save VB I-VP +on IN B-PP +Halloween NNP B-NP +, , O +'' '' O +said VBD B-VP +Mr. NNP B-NP +Barnicle NNP I-NP +. . O + +`` `` O +Instead RB B-PP +of IN I-PP +buying VBG B-VP +masks NNS B-NP +for IN B-PP +your PRP$ B-NP +kids NNS I-NP +, , O +just RB B-ADVP +cut VB B-VP +out RP B-PRT +the IN B-NP +columnists NNS I-NP +' POS B-NP +pictures NNS I-NP +... : O +. . O + +Deeply RB B-ADJP +ingrained JJ I-ADJP +in IN B-PP +both DT O +the DT B-NP +book NN I-NP +review NN I-NP +`` `` O +Kissing VBG B-VP +Nature NNP B-NP +Good-bye UH B-NP +'' '' O +by IN B-PP +Stephen NNP B-NP +MacDonald NNP I-NP +-LRB- ( O +Leisure NNP B-NP +& CC I-NP +Arts NNP I-NP +, , O +Sept. NNP B-NP +27 CD I-NP +-RRB- ) O +and CC O +the DT B-NP +books NNS I-NP +reviewed VBN B-VP +is VBZ B-VP +the DT B-NP +assumption NN I-NP +that IN B-SBAR +global JJ B-NP +warming NN I-NP +is VBZ B-VP +entirely RB B-ADVP +a DT B-NP +result NN I-NP +of IN B-PP +human JJ B-NP +activity NN I-NP +. . O + +Is VBZ O +such JJ B-NP +a DT I-NP +view NN I-NP +justified VBN B-VP +? . O + +In IN B-PP +the DT B-NP +absence NN I-NP +of IN B-PP +humans NNS B-NP +, , O +would MD O +the DT B-NP +Earth NNP I-NP +enjoy VB B-VP +a DT B-NP +constant JJ I-NP +climate NN I-NP +over IN B-PP +the DT B-NP +long JJ I-NP +term NN I-NP +? . O + +Clearly RB B-ADVP +not RB I-ADVP +. . O + +About IN B-NP +20,000 CD I-NP +years NNS I-NP +ago RB B-ADVP +the DT B-NP +last JJ I-NP +ice NN I-NP +age NN I-NP +ended VBD B-VP +. . O + +Enormous JJ B-NP +ice NN I-NP +sheets NNS I-NP +retreated VBD B-VP +from IN B-PP +the DT B-NP +face NN I-NP +of IN B-PP +North NNP B-NP +America NNP I-NP +, , O +northern JJ B-NP +Europe NNP I-NP +and CC O +Asia NNP B-NP +. . O + +This DT B-NP +global JJ I-NP +warming NN I-NP +must MD B-VP +have VB I-VP +been VBN I-VP +entirely RB B-ADJP +natural JJ I-ADJP +-- : O +nobody NN B-NP +would MD B-VP +blame VB I-VP +it PRP B-NP +on IN B-PP +a DT B-NP +few JJ I-NP +hundred CD I-NP +thousand CD I-NP +hunter-gatherers NNS I-NP +hunting NN B-VP +mammoths NNS B-NP +and CC O +scratching VBG B-VP +around IN O +in IN B-PP +caves NNS B-NP +. . O + +Furthermore RB B-ADVP +, , O +no DT B-NP +bell NN I-NP +has VBZ B-VP +yet RB I-VP +rung VBN I-VP +to TO I-VP +announce VB I-VP +the DT B-NP +end NN I-NP +of IN B-PP +this DT B-NP +immense JJ I-NP +episode NN I-NP +of IN B-PP +natural JJ B-NP +global JJ I-NP +warming NN I-NP +. . O + +It PRP B-NP +is VBZ B-VP +probably RB I-VP +continuing VBG I-VP +and CC O +may MD B-VP +well RB I-VP +account VB I-VP +for IN B-PP +most RBS B-NP +of IN B-PP +, , O +or CC O +all DT B-NP +of IN B-PP +, , O +present-day JJ B-NP +global JJ I-NP +warming NN I-NP +. . O + +I PRP B-NP +bow VBP B-VP +to TO B-PP +no DT B-NP +one CD I-NP +in IN B-PP +my PRP$ B-NP +regard NN I-NP +for IN B-PP +our PRP$ B-NP +terrestrial JJ I-NP +heritage NN I-NP +, , O +but CC O +if IN B-SBAR +we PRP B-NP +are VBP B-VP +serious JJ B-ADJP +about IN B-PP +global JJ B-NP +warming NN I-NP +we PRP B-NP +must MD B-VP +look VB I-VP +at IN B-PP +the DT B-NP +big JJ I-NP +picture NN I-NP +and CC O +not RB B-VP +allow VB I-VP +the DT B-NP +Dominant NNP I-NP +Culture NNP I-NP +to TO B-VP +lock VB I-VP +us PRP B-NP +into IN B-PP +the DT B-NP +capitalist-exploiters-greedy-American-consumers-global JJ I-NP +- : I-NP +warming NN I-NP +scenario NN I-NP +as IN B-PP +the DT B-NP +sole JJ I-NP +model NN I-NP +for IN B-PP +discussion NN B-NP +. . O + +Jocelyn NNP B-NP +Tomkin NNP I-NP +Astronomy NNP B-NP +Department NNP I-NP +University NNP B-NP +of IN B-PP + +The DT B-NP +Internal NNP I-NP +Revenue NNP I-NP +Service NNP I-NP +plans VBZ B-VP +to TO I-VP +restructure VB I-VP +itself PRP B-NP +more JJR B-ADVP +like IN B-PP +a DT B-NP +private JJ I-NP +corporation NN I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +the DT B-NP +tax-collecting JJ I-NP +agency NN I-NP +says VBZ B-VP +that IN B-SBAR +it PRP B-NP +will MD B-VP +take VB I-VP +the DT B-NP +unusual JJ I-NP +step NN I-NP +of IN B-PP +looking VBG B-VP +to TO B-PP +the DT B-NP +private JJ I-NP +sector NN I-NP +to TO B-VP +fill VB I-VP +two CD B-NP +new JJ I-NP +high-level JJ I-NP +positions NNS I-NP +to TO B-VP +guide VB I-VP +the DT B-NP +120,000-employee JJ I-NP +agency NN I-NP +: : O +a DT B-NP +comptroller NN I-NP +to TO B-VP +oversee VB I-VP +daily JJ B-NP +finances NNS I-NP +and CC O +a DT B-NP +chief JJ I-NP +information NN I-NP +officer NN I-NP +to TO B-VP +update VB I-VP +the DT B-NP +information NN I-NP +system NN I-NP +, , O +which WDT B-NP +includes VBZ B-VP +probably RB B-NP +the DT I-NP +largest JJS I-NP +computer NN I-NP +data NNS I-NP +base VBP I-NP +in IN B-PP +the DT B-NP +world NN I-NP +. . O + +The DT B-NP +IRS NNP I-NP +also RB B-ADVP +said VBD B-VP +that IN B-SBAR +it PRP B-NP +would MD B-VP +create VB I-VP +the DT B-NP +position NN I-NP +of IN B-PP +chief JJ B-NP +financial JJ I-NP +officer NN I-NP +, , O +who WP B-NP +will MD B-VP +be VB I-VP +hired VBN I-VP +from IN B-PP +within IN B-PP +the DT B-NP +agency NN I-NP +. . O + +IRS NNP B-NP +Commissioner NNP I-NP +Fred NNP I-NP +T. NNP I-NP +Goldberg NNP I-NP +said VBD B-VP +the DT B-NP +changes NNS I-NP +are VBP B-VP +intended VBN I-VP +to TO I-VP +bring VB I-VP +`` `` O +accountability NN B-NP +'' '' O +to TO B-PP +the DT B-NP +agency NN I-NP +, , O +which WDT B-NP +has VBZ B-VP +an DT B-NP +annual JJ I-NP +budget NN I-NP +of IN B-PP +more JJR B-NP +than IN I-NP +$ $ I-NP +5 NN I-NP +billion CD I-NP +and CC O +collects VBZ B-VP +about RB B-NP +$ $ I-NP +1 CD I-NP +trillion CD I-NP +a DT B-NP +year NN I-NP +. . O + +`` `` O +My PRP$ B-NP +assessment NN I-NP +and CC O +everyone NN B-NP +'s POS B-NP +assessment NN I-NP +is VBZ B-VP +that IN B-SBAR +we PRP B-NP +do VBP B-VP +not RB I-VP +have VB I-VP +the DT B-NP +kinds NNS I-NP +of IN B-PP +information NN B-NP +that WDT B-NP +let VBP B-VP +us PRP B-NP +responsibly RB B-VP +and CC I-VP +effectively RB I-VP +formulate VB I-VP +and CC I-VP +execute VB I-VP +our PRP$ B-NP +budget NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Goldberg NNP I-NP +said VBD B-VP +. . O + +`` `` O +And CC O +we PRP B-NP +do VBP B-VP +n't RB I-VP +have VB I-VP +internal JJ B-NP +controls NNS I-NP +and CC I-NP +discipline NN I-NP +that IN B-NP +we PRP B-NP +need VBP B-VP +to TO I-VP +have VB I-VP +to TO B-VP +spend VB I-VP +$ $ B-NP +5 NN I-NP +billion CD I-NP +properly RB B-ADVP +. . O +'' '' O + +Mr. NNP B-NP +Goldberg NNP I-NP +, , O +who WP B-NP +took VBD B-VP +over IN B-PRT +as IN B-PP +head NN B-NP +of IN B-PP +the DT B-NP +IRS NNP I-NP +in IN B-PP +July NNP B-NP +, , O +has VBZ B-VP +been VBN I-VP +disturbed VBN I-VP +by IN B-PP +what WP B-NP +he PRP B-NP +considers VBZ B-VP +the DT B-NP +inefficiency NN I-NP +, , I-NP +waste NN I-NP +and CC I-NP +lack NN I-NP +of IN B-PP +coordination NN B-NP +among IN B-PP +the DT B-NP +branches NNS I-NP +of IN B-PP +the DT B-NP +vast JJ I-NP +federal JJ I-NP +agency NN I-NP +. . O + +The DT B-NP +IRS NNP I-NP +operates VBZ B-VP +on IN B-PP +a DT B-NP +computer NN I-NP +system NN I-NP +designed VBN B-VP +in IN B-PP +1961 CD B-NP +, , O +which WDT B-NP +it PRP B-NP +has VBZ B-VP +been VBN I-VP +trying VBG I-VP +to TO I-VP +modernize VB I-VP +for IN B-PP +years NNS B-NP +. . O + +And CC O +the DT B-NP +agency NN I-NP +, , O +which WDT B-NP +operated VBD B-VP +throughout IN B-PP +fiscal JJ B-NP +1989 CD I-NP +with IN B-PP +a DT B-NP +$ $ I-NP +360 CD I-NP +million CD I-NP +budget NN I-NP +shortfall NN I-NP +, , O +has VBZ B-VP +been VBN I-VP +under IN B-PP +a DT B-NP +hiring VBG I-NP +freeze NN I-NP +since IN B-PP +last JJ B-NP +fall NN I-NP +. . O + +The DT B-NP +new JJ I-NP +commissioner NN I-NP +says VBZ B-VP +that IN B-SBAR +closer JJR B-NP +scrutiny NN I-NP +of IN B-PP +how WRB B-ADVP +the DT B-NP +agency NN I-NP +uses VBZ B-VP +its PRP$ B-NP +resources NNS I-NP +will MD B-VP +go VB I-VP +a DT B-NP +long JJ I-NP +way NN I-NP +toward IN B-PP +enhancing VBG B-VP +its PRP$ B-NP +ability NN I-NP +to TO B-VP +collect VB I-VP +more JJR B-NP +tax NN I-NP +revenue NN I-NP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +that IN B-SBAR +you PRP B-NP +will MD B-VP +see VB I-VP +a DT B-NP +significant JJ I-NP +improvement NN I-NP +in IN B-PP +the DT B-NP +budget NN I-NP +formulation NN I-NP +and CC I-NP +execution NN I-NP +process NN I-NP +which WDT B-NP +, , O +in IN B-PP +turn NN B-NP +, , O +I PRP B-NP +believe VBP B-VP +will MD B-VP +result VB I-VP +in IN B-PP +a DT B-NP +significant JJ I-NP +increase NN I-NP +in IN B-PP +revenue NN B-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +The DT B-NP +IRS NNP I-NP +hopes VBZ B-VP +to TO I-VP +fill VB I-VP +the DT B-NP +new JJ I-NP +positions NNS I-NP +soon RB B-ADVP +. . O + +Customarily RB B-ADVP +, , O +it PRP B-NP +would MD B-VP +appoint VB I-VP +career NN B-NP +civil JJ I-NP +servants NNS I-NP +from IN B-PP +within IN B-NP +the DT B-NP +agency NN I-NP +, , O +but CC O +Mr. NNP B-NP +Goldberg NNP I-NP +said VBD B-VP +he PRP B-NP +plans VBZ B-VP +to TO I-VP +`` `` I-VP +scour VBP I-VP +the DT B-NP +world NN I-NP +'' '' O +for IN B-PP +the DT B-NP +chief JJ I-NP +information NN I-NP +officer NN I-NP +and CC O +the DT B-NP +comptroller NN I-NP +. . O + +Although IN B-SBAR +the DT B-NP +jobs NNS I-NP +will MD B-VP +probably RB I-VP +pay VB I-VP +between IN B-NP +$ $ I-NP +70,000 CD I-NP +and CC I-NP +$ $ I-NP +80,000 CD I-NP +a DT B-NP +year NN I-NP +, , O +IRS NNP B-NP +officials NNS I-NP +are VBP B-VP +confident JJ B-ADJP +that IN B-SBAR +they PRP B-NP +can MD B-VP +attract VB I-VP +top-notch JJ B-NP +candidates NNS I-NP +from IN B-PP +the DT B-NP +private JJ I-NP +sector NN I-NP +. . O + +`` `` O +You PRP B-NP +'re VBP B-VP +telling VBG I-VP +someone NN B-NP +they PRP B-NP +can MD B-VP +spend VB I-VP +the DT B-NP +next JJ I-NP +three CD I-NP +or CC I-NP +four CD I-NP +or CC I-NP +five CD I-NP +or CC I-NP +six CD I-NP +years NNS I-NP +of IN B-PP +their PRP$ B-NP +life NN I-NP +bringing VBG B-VP +about IN B-PRT +the DT B-NP +most RBS I-NP +difficult JJ I-NP +and CC I-NP +costly JJ I-NP +modernization NN I-NP +of IN B-PP +an DT B-NP +information NN I-NP +system NN I-NP +on IN B-PP +the DT B-NP +civil JJ I-NP +side NN I-NP +ever RB B-NP +, , O +'' '' O +Mr. NNP B-NP +Goldberg NNP I-NP +said VBD B-VP +. . O + +`` `` O +On IN B-PP +the DT B-NP +comptroller NN I-NP +side NN I-NP +, , O +you PRP B-NP +'re VBP B-VP +developing VBG I-VP +and CC O +making VBG B-VP +work NN B-VP +financial JJ B-NP +controls NNS I-NP +governing VBG B-VP +a DT B-NP +$ $ I-NP +6 CD I-NP +billion CD I-NP +budget NN I-NP +. . O + +When WRB B-ADVP +Maj. NNP B-NP +Moises NNP I-NP +Giroldi NNP I-NP +, , O +the DT B-NP +leader NN I-NP +of IN B-PP +the DT B-NP +abortive JJ I-NP +coup NN I-NP +in IN B-PP +Panama NNP B-NP +, , O +was VBD B-VP +buried VBN I-VP +, , O +his PRP$ B-NP +body NN I-NP +bore VBD B-VP +several JJ B-NP +gunshot NN I-NP +wounds NNS I-NP +, , O +a DT B-NP +cracked VBN I-NP +skull NN I-NP +and CC O +broken VBN B-NP +legs NNS I-NP +and CC I-NP +ribs NNS I-NP +. . O + +They PRP B-NP +were VBD B-VP +the DT B-NP +signature NN I-NP +of IN B-PP +his PRP$ B-NP +adversary NN I-NP +, , O +Panamanian JJ B-NP +leader NN I-NP +Manuel NNP I-NP +Antonio NNP I-NP +Noriega NNP I-NP +. . O + +The DT B-NP +rebel NN I-NP +officer NN I-NP +'s POS B-NP +slow JJ I-NP +and CC I-NP +painful JJ I-NP +death NN I-NP +, , O +at IN B-PP +the DT B-NP +headquarters NN I-NP +of IN B-PP +Panama NNP B-NP +'s POS B-NP +Battalion-2000 NN I-NP +squad NN I-NP +, , O +was VBD B-VP +personally RB I-VP +supervised VBN I-VP +by IN B-PP +Gen. NNP B-NP +Noriega NNP I-NP +, , O +says VBZ B-VP +a DT B-NP +U.S. NNP I-NP +official NN I-NP +with IN B-PP +access NN B-NP +to TO B-PP +intelligence NN B-NP +reports NNS I-NP +. . O + +Leaping VBG B-VP +into IN B-PP +rages VBZ B-NP +, , O +sinking VBG B-VP +into IN B-PP +bouts NNS B-NP +of IN B-PP +drunkenness NN B-NP +and CC I-NP +mistrust NN I-NP +, , O +Mr. NNP B-NP +Noriega NNP I-NP +has VBZ B-VP +put VBN I-VP +to TO B-PP +death NN B-NP +some DT B-NP +70 CD I-NP +of IN B-PP +his PRP$ B-NP +troops NNS I-NP +involved VBN B-VP +in IN B-PP +the DT B-NP +coup NN I-NP +, , O +according VBG B-PP +to TO B-PP +U.S. NNP B-NP +officials NNS I-NP +monitoring NN B-VP +crematoriums NNS B-NP +and CC O +funeral NN B-NP +parlors NNS I-NP +in IN B-PP +Panama NNP B-NP +City NNP I-NP +. . O + +He PRP B-NP +is VBZ B-VP +now RB I-VP +changing VBG I-VP +the DT B-NP +place NN I-NP +he PRP B-NP +sleeps VBZ B-VP +every DT B-NP +night NN I-NP +, , O +sometimes RB B-NP +more JJR I-NP +than IN I-NP +once RB I-NP +a DT B-NP +night NN I-NP +. . O + +His PRP$ B-NP +meals NNS I-NP +are VBP B-VP +most RBS I-VP +often RB I-VP +prepared VBN I-VP +by IN B-PP +women NNS B-NP +he PRP B-NP +trusts VBZ B-VP +-- : O +his PRP$ B-NP +full-time JJ I-NP +mistress NN I-NP +, , O +Vicky NNP B-NP +Amado NNP I-NP +, , O +and CC O +her PRP$ B-NP +mother NN I-NP +, , O +Norma NNP B-NP +. . O + +And CC O +he PRP B-NP +is VBZ B-VP +collecting VBG I-VP +the DT B-NP +names NNS I-NP +of IN B-PP +those DT B-NP +who WP B-NP +telephoned VBD B-VP +the DT B-NP +coup-makers NNS I-NP +to TO B-VP +congratulate VB I-VP +them PRP B-NP +during IN B-PP +their PRP$ B-NP +brief JJ I-NP +time NN I-NP +in IN B-PP +control NN B-NP +of IN B-PP +his PRP$ B-NP +headquarters NN I-NP +. . O + +More JJR B-NP +enemies NNS I-NP +to TO B-VP +be VB I-VP +dealt VBN I-VP +with RB B-PP +. . O + +In IN B-PP +the DT B-NP +two CD I-NP +weeks NNS I-NP +since IN B-PP +the DT B-NP +rebellion NN I-NP +, , O +which WDT B-NP +the DT B-NP +U.S. NNP I-NP +hesitantly RB B-VP +backed VBD I-VP +, , O +Mr. NNP B-NP +Noriega NNP I-NP +has VBZ B-VP +been VBN I-VP +at IN B-PP +his PRP$ B-NP +most RBS I-NP +brutal JJ I-NP +- : O +and CC O +efficient JJ O +- : O +in IN B-PP +maintaining VBG B-VP +power NN B-NP +. . O + +Yet RB B-ADVP +, , O +while IN B-SBAR +the DT B-NP +failed VBN I-NP +coup NN I-NP +is VBZ B-VP +a DT B-NP +major JJ I-NP +U.S. NNP I-NP +foreign JJ I-NP +policy NN I-NP +embarrassment NN I-NP +, , O +it PRP B-NP +is VBZ B-VP +merely RB B-NP +the DT I-NP +latest JJS I-NP +chapter NN I-NP +in IN B-PP +a DT B-NP +byzantine JJ I-NP +relationship NN I-NP +between IN B-PP +Mr. NNP B-NP +Noriega NNP I-NP +and CC O +Washington NNP B-NP +that IN B-NP +stretches NNS B-VP +back RB B-ADVP +three CD B-NP +decades NNS I-NP +. . O + +America NNP B-NP +'s POS B-NP +war NN I-NP +on IN B-PP +the DT B-NP +dictator NN I-NP +over IN B-PP +the DT B-NP +past JJ I-NP +two CD I-NP +years NNS I-NP +, , O +following VBG B-PP +his PRP$ B-NP +indictment NN I-NP +on IN B-PP +drug NN B-NP +charges NNS I-NP +in IN B-PP +February NNP B-NP +1988 CD I-NP +, , O +is VBZ B-VP +the DT B-NP +legacy NN I-NP +of IN B-PP +that DT B-NP +relationship NN I-NP +. . O + +Before IN B-SBAR +American JJ B-NP +foreign JJ I-NP +policy NN I-NP +set VBN B-VP +out IN B-PRT +to TO B-VP +destroy VB I-VP +Noriega NNP B-NP +, , O +it PRP B-NP +helped VBD B-VP +create VB I-VP +him PRP B-NP +out IN B-PP +of IN B-PP +the DT B-NP +crucible NN I-NP +of IN B-PP +Panama NNP B-NP +'s POS B-NP +long JJ I-NP +history NN I-NP +of IN B-PP +conspirators NNS B-NP +and CC I-NP +pirates NNS I-NP +. . O + +For IN B-PP +most RBS B-NP +of IN I-NP +the DT I-NP +past JJ I-NP +30 CD I-NP +years NNS I-NP +, , O +the DT B-NP +marriage NN I-NP +was VBD B-VP +one CD B-NP +of IN B-PP +convenience NN B-NP +. . O + +In IN B-PP +1960 CD B-NP +, , O +for IN B-PP +example NN B-NP +, , O +when WRB B-ADVP +Mr. NNP B-NP +Noriega NNP I-NP +was VBD B-VP +both DT O +a DT B-NP +cadet NN I-NP +at IN B-PP +an DT B-NP +elite NN I-NP +military JJ I-NP +academy NN I-NP +in IN B-PP +Peru NNP B-NP +and CC O +a DT B-NP +spy-in-training NN I-NP +for IN B-PP +the DT B-NP +U.S. NNP I-NP +Defense NNP I-NP +Intelligence NNP I-NP +Agency NNP I-NP +, , O +he PRP B-NP +was VBD B-VP +detained VBN I-VP +by IN B-PP +Lima NNP B-NP +authorities NNS I-NP +for IN B-PP +allegedly RB B-ADVP +raping VBG B-VP +and CC O +savagely RB B-VP +beating VBG I-VP +a DT B-NP +prostitute NN I-NP +, , O +according VBG B-PP +to TO B-PP +a DT B-NP +U.S. NNP I-NP +Embassy NNP I-NP +cable NN I-NP +from IN B-PP +that DT B-NP +period NN I-NP +. . O + +The DT B-NP +woman NN I-NP +had VBD B-VP +nearly RB I-VP +died VBN I-VP +. . O + +But CC O +U.S. NNP B-NP +intelligence NN I-NP +, , O +rather RB B-SBAR +than IN I-SBAR +rein NN B-VP +in IN B-ADVP +or CC O +cut NN B-VP +loose JJ B-ADJP +its PRP$ B-NP +new JJ I-NP +spy NN I-NP +, , O +merely RB B-ADVP +filed VBN B-VP +the DT B-NP +report NN I-NP +away RB B-ADVP +. . O + +Mr. NNP B-NP +Noriega NNP I-NP +'s POS B-NP +tips NNS I-NP +on IN B-PP +emerging VBG B-NP +leftists NNS I-NP +at IN B-PP +his PRP$ B-NP +school NN I-NP +were VBD B-VP +deemed VBN I-VP +more RBR B-ADJP +important JJ I-ADJP +to TO B-PP +U.S. NNP B-NP +interests NNS I-NP +. . O + +From IN B-PP +that DT B-NP +point NN I-NP +on IN I-NP +, , O +the DT B-NP +U.S. NNP I-NP +would MD B-VP +make VB I-VP +a DT B-NP +practice NN I-NP +of IN B-PP +overlooking VBG B-VP +the DT B-NP +Panamanian NNP I-NP +'s POS B-NP +misadventures NNS I-NP +. . O + +The DT B-NP +U.S. NNP I-NP +has VBZ B-VP +befriended VBN I-VP +and CC O +later RB B-VP +turned VBD I-VP +against IN B-PP +many JJ B-NP +dictators NNS I-NP +, , O +but CC O +none NN B-NP +quite RB B-ADJP +so RB I-ADJP +resourceful JJ I-ADJP +. . O + +The DT B-NP +55-year-old NNP I-NP +Mr. NNP I-NP +Noriega NNP I-NP +is VBZ B-VP +n't RB O +as RB B-ADJP +smooth JJ I-ADJP +as IN B-PP +the DT B-NP +shah NN I-NP +of IN B-PP +Iran NNP B-NP +, , O +as RB B-ADJP +well-born JJ I-ADJP +as IN B-PP +Nicaragua NNP B-NP +'s POS B-NP +Anastasio NNP I-NP +Somoza NNP I-NP +, , O +as RB B-ADJP +imperial JJ I-ADJP +as IN B-PP +Ferdinand NNP B-NP +Marcos NNP I-NP +of IN B-PP +the DT B-NP +Philippines NNP I-NP +or CC O +as RB B-ADJP +bloody JJ I-ADJP +as IN B-PP +Haiti NNP B-NP +'s POS B-NP +Baby NNP I-NP +Doc NNP I-NP +Duvalier NNP I-NP +. . O + +Yet RB O +he PRP B-NP +has VBZ B-VP +proved VBN I-VP +more RBR B-ADJP +resilient JJ I-ADJP +than IN B-PP +any DT B-NP +of IN B-PP +them PRP B-NP +. . O + +And CC O +out IN B-ADVP +of IN B-PP +necessity NN B-NP +: : O +The DT B-NP +U.S. NNP I-NP +can MD B-VP +make VB I-VP +mistakes NNS B-NP +and CC O +still JJ B-ADVP +hope NN B-VP +to TO I-VP +remove VB I-VP +him PRP B-NP +from IN B-PP +power NN B-NP +, , O +but CC O +a DT B-NP +single JJ I-NP +error NN I-NP +on IN B-PP +his PRP$ B-NP +part NN I-NP +could MD B-VP +cost VB I-VP +him PRP B-NP +his PRP$ B-NP +life NN I-NP +. . O + +`` `` O +The DT B-NP +U.S. NNP I-NP +underestimated VBD B-VP +Noriega NNP B-NP +all DT B-ADVP +along IN I-ADVP +, , O +'' '' O +says VBZ B-VP +Ambler NNP B-NP +Moss NNP I-NP +, , O +a DT B-NP +former JJ I-NP +Ambassador NNP I-NP +to TO B-PP +Panama NNP B-NP +. . O + +`` `` O +He PRP B-NP +has VBZ B-VP +mastered VBN I-VP +the DT B-NP +art NN I-NP +of IN B-PP +survival NN B-NP +. . O +'' '' O + +In IN B-PP +keeping VBG B-VP +with IN B-PP +America NNP B-NP +'s POS B-NP +long JJ I-NP +history NN I-NP +of IN B-PP +propping VBG B-VP +up IN B-PRT +Mr. NNP B-NP +Noriega NNP I-NP +, , O +recent JJ B-NP +U.S. NNP I-NP +actions NNS I-NP +have VBP B-VP +extended VBN I-VP +rather RB B-CONJP +than IN I-CONJP +shortened VBN B-VP +his PRP$ B-NP +survival NN I-NP +. . O + +Mr. NNP B-NP +Noriega NNP I-NP +might MD B-VP +have VB I-VP +fallen VBN I-VP +of IN B-PP +his PRP$ B-NP +own JJ I-NP +weight NN I-NP +in IN B-PP +1988 CD B-NP +because IN B-PP +of IN I-PP +Panama NNP B-NP +'s POS B-NP +dire JJ I-NP +economic JJ I-NP +situation NN I-NP +, , O +says VBZ B-VP +Mr. NNP B-NP +Moss NNP I-NP +, , O +but CC O +increasing VBG B-NP +external JJ I-NP +pressure NN I-NP +has VBZ B-VP +only RB I-VP +given VBN I-VP +him PRP B-NP +additional JJ B-NP +excuses NNS I-NP +for IN B-PP +repression NN B-NP +, , O +and CC O +a DT B-NP +scapegoat NN I-NP +for IN B-PP +his PRP$ B-NP +own JJ I-NP +mismanagement NN I-NP +. . O + +`` `` O +If IN B-SBAR +the DT B-NP +U.S. NNP I-NP +had VBD B-VP +sat VBN I-VP +back RB B-ADVP +and CC O +done VBN B-VP +nothing NN B-NP +, , O +he PRP B-NP +might MD B-VP +not RB I-VP +have VB I-VP +made VBN I-VP +it PRP B-NP +through IN B-PP +1988 CD B-NP +, , O +'' '' O +Mr. NNP B-NP +Moss NNP I-NP +contends VBZ B-VP +. . O + +Perhaps RB B-ADJP +most RBS I-ADJP +important JJ I-ADJP +, , O +Mr. NNP B-NP +Noriega NNP I-NP +'s POS B-NP +allies NNS I-NP +have VBP B-VP +intervened VBN I-VP +to TO I-VP +encourage VB I-VP +-- : O +in IN B-PP +some DT B-NP +cases NNS I-NP +, , O +to TO B-VP +demand VB I-VP +-- : O +that IN B-SBAR +the DT B-NP +dictator NN I-NP +maintain VB B-VP +his PRP$ B-NP +grip NN I-NP +of IN B-PP +the DT B-NP +throne NN I-NP +. . O + +One CD B-NP +Colombian JJ I-NP +drug NN I-NP +boss NN I-NP +, , O +upon IN B-SBAR +hearing NN B-VP +in IN B-PP +1987 CD B-NP +that IN B-SBAR +Gen. NNP B-NP +Noriega NNP I-NP +was VBD B-VP +negotiating VBG I-VP +with IN B-PP +the DT B-NP +U.S. NNP I-NP +to TO B-VP +abandon VB I-VP +his PRP$ B-NP +command NN I-NP +for IN B-PP +a DT B-NP +comfortable JJ I-NP +exile NN I-NP +, , O +sent VBD B-VP +him PRP B-NP +a DT B-NP +hand-sized JJ I-NP +mahogany NN I-NP +coffin NN I-NP +engraved VBN B-VP +with IN B-PP +his PRP$ B-NP +name NN I-NP +. . O + +`` `` O +He PRP B-NP +is VBZ B-VP +cornered VBN B-ADJP +, , O +'' '' O +says VBZ B-VP +the DT B-NP +Rev. NNP I-NP +Fernando NNP I-NP +Guardia NNP I-NP +, , O +who WP B-NP +has VBZ B-VP +led VBN I-VP +Catholic NNP B-NP +Church NNP I-NP +opposition NN I-NP +against IN B-PP +Noriega NNP B-NP +. . O + +`` `` O +The DT B-NP +Americans NNPS I-NP +have VBP B-VP +left VBN I-VP +him PRP B-NP +without IN B-PP +a DT B-NP +way NN I-NP +out RB I-NP +. . O + +It PRP B-NP +is VBZ B-VP +easy JJ B-ADJP +to TO B-VP +fight VB I-VP +when WRB B-ADVP +you PRP B-NP +do VBP B-VP +n't RB I-VP +have VB I-VP +any DT B-NP +other JJ I-NP +option NN I-NP +. . O +'' '' O + +His PRP$ B-NP +chief JJ I-NP +advantage NN I-NP +in IN B-PP +the DT B-NP +fight NN I-NP +: : O +his PRP$ B-NP +intimate JJ I-NP +knowledge NN I-NP +of IN B-PP +American JJ B-NP +ways NNS I-NP +and CC I-NP +weaknesses NNS I-NP +. . O + +Mr. NNP B-NP +Noriega NNP I-NP +often RB B-ADVP +tells VBZ B-VP +friends NNS B-NP +that WDT B-SBAR +patience NN B-NP +is VBZ B-VP +the DT B-NP +best JJS I-NP +weapon NN I-NP +against IN B-PP +the DT B-NP +gringos NNS I-NP +, , O +who WP B-NP +have VBP B-VP +a DT B-NP +short JJ I-NP +attention NN I-NP +span NN I-NP +and CC O +little JJ B-NP +stomach NN I-NP +for IN B-PP +lasting VBG B-NP +confrontation NN I-NP +. . O + +The DT B-NP +U.S. NNP I-NP +discovered VBD B-VP +the DT B-NP +young JJ I-NP +Tony NNP I-NP +Noriega NNP I-NP +in IN B-PP +late JJ B-NP +1959 CD I-NP +, , O +when WRB B-ADVP +he PRP B-NP +was VBD B-VP +in IN B-PP +his PRP$ B-NP +second JJ I-NP +year NN I-NP +at IN B-PP +the DT B-NP +Chorrillos NNP I-NP +Military NNP I-NP +Academy NNP I-NP +in IN B-PP +Lima NNP B-NP +, , O +according VBG B-PP +to TO B-PP +former JJ B-NP +U.S. NNP I-NP +intelligence NN I-NP +officials NNS I-NP +. . O + +The DT B-NP +contact NN I-NP +occurred VBD B-VP +through IN B-PP +Mr. NNP B-NP +Noriega NNP I-NP +'s POS B-NP +half-brother NN I-NP +, , O +a DT B-NP +Panamanian JJ I-NP +diplomat NN I-NP +based VBN B-VP +in IN B-PP +Peru NNP B-NP +named VBD B-VP +Luis NNP B-NP +Carlos NNP I-NP +Noriega NNP I-NP +Hurtado NNP I-NP +. . O + +Luis NNP B-NP +Carlos NNP I-NP +, , O +knowing VBG B-VP +that IN B-SBAR +helping VBG B-VP +the DT B-NP +Americans NNPS I-NP +could MD B-VP +advance VB I-VP +the DT B-NP +career NN I-NP +of IN B-PP +any DT B-NP +Panamanian JJ I-NP +officer NN I-NP +, , O +relayed VBD B-VP +Tony NNP B-NP +'s POS B-NP +reports NNS I-NP +on IN B-PP +the DT B-NP +leftist JJ I-NP +tendencies NNS I-NP +he PRP B-NP +observed VBD B-VP +among IN B-PP +his PRP$ B-NP +fellow NN I-NP +students NNS I-NP +and CC B-PP +, , O +more RBR B-ADVP +important JJ I-ADVP +, , O +among IN B-PP +his PRP$ B-NP +officers NNS I-NP +and CC I-NP +instructors NNS I-NP +. . O + +A DT B-NP +spy NN I-NP +was VBD B-VP +born VBN I-VP +. . O + +It PRP B-NP +was VBD B-VP +a DT B-NP +heady JJ I-NP +experience NN I-NP +for IN B-PP +the DT B-NP +pockmarked JJ I-NP +and CC I-NP +slightly RB I-NP +built VBN I-NP +Mr. NNP I-NP +Noriega NNP I-NP +, , O +who WP B-NP +was VBD B-VP +known VBN I-VP +to TO B-PP +his PRP$ B-NP +friends NNS I-NP +as IN B-PP +Cara NNP B-NP +la FW I-NP +Pina NNP I-NP +-- : O +pineapple NN B-NP +face NN I-NP +. . O + +Born VBN B-VP +the DT B-NP +illegitimate JJ I-NP +son NN I-NP +of IN B-PP +his PRP$ B-NP +father NN I-NP +'s POS B-NP +maid NN I-NP +, , O +he PRP B-NP +was VBD B-VP +raised VBN I-VP +on IN B-PP +the DT B-NP +mean NN I-NP +streets NNS I-NP +of IN B-PP +the DT B-NP +central JJ I-NP +market NN I-NP +district NN I-NP +of IN B-PP +Panama NNP B-NP +City NNP I-NP +. . O + +Tony NNP B-NP +was VBD B-VP +four CD B-NP +years NNS I-NP +older JJR B-ADJP +than IN B-PP +most RBS B-NP +of IN B-PP +his PRP$ B-NP +fellow NN I-NP +cadets NNS I-NP +, , O +and CC O +gained VBD B-VP +admission NN B-NP +to TO B-PP +the DT B-NP +academy NN I-NP +because IN B-SBAR +his PRP$ B-NP +brother NN I-NP +had VBD B-VP +falsified VBN I-VP +his PRP$ B-NP +birth NN I-NP +certificate NN I-NP +. . O + +He PRP B-NP +considered VBD B-VP +himself PRP B-NP +intellectually RB B-ADJP +superior JJ I-ADJP +to TO B-PP +his PRP$ B-NP +Peruvian JJ I-NP +peers NNS I-NP +, , O +many NN B-NP +of IN B-PP +whom WP B-NP +were VBD B-VP +wayward JJ B-NP +sons NNS I-NP +sent VBN B-VP +by IN B-PP +their PRP$ B-NP +well-off JJ I-NP +families NNS I-NP +to TO B-PP +the DT B-NP +highly RB I-NP +disciplined VBN I-NP +, , I-NP +French-modeled JJ I-NP +academy NN I-NP +as IN B-PP +a DT B-NP +sort NN I-NP +of IN B-PP +reform NN B-NP +school NN I-NP +. . O + +In IN B-PP +his PRP$ B-NP +peaked VBD I-NP +military JJ I-NP +cap NN I-NP +and CC I-NP +neatly RB I-NP +pressed VBN I-NP +, , I-NP +French-made JJ I-NP +uniform NN I-NP +, , O +Noriega NNP B-NP +felt VBD B-VP +more RBR B-ADJP +respected VBN I-ADJP +and CC I-ADJP +powerful JJ I-ADJP +than IN B-PP +ever RB B-NP +in IN B-PP +his PRP$ B-NP +underprivileged JJ I-NP +life NN I-NP +, , O +friends NNS B-NP +from IN B-PP +the DT B-NP +period NN I-NP +say VBP B-VP +. . O + +`` `` O +He PRP B-NP +had VBD B-VP +an DT B-NP +elegant JJ I-NP +uniform NN I-NP +with IN B-PP +gold NN B-NP +buttons NNS I-NP +in IN B-PP +a DT B-NP +country NN I-NP +where WRB B-ADVP +there EX B-NP +was VBD B-VP +a DT B-NP +cult NN I-NP +of IN B-PP +militarism NN B-NP +, , O +where WRB B-ADVP +officers NNS B-NP +were VBD B-VP +the DT B-NP +elite NN I-NP +with IN B-PP +special JJ B-NP +privileges NNS I-NP +, , O +'' '' O +recalls VBZ B-VP +Darien NNP B-NP +Ayala NNP I-NP +, , O +a DT B-NP +fellow NN I-NP +student NN I-NP +in IN B-PP +Peru NNP B-NP +and CC O +a DT B-NP +lifelong JJ I-NP +friend NN I-NP +. . O + +Mr. NNP B-NP +Noriega NNP I-NP +'s POS B-NP +relationship NN I-NP +to TO B-PP +American JJ B-NP +intelligence NN I-NP +agencies NNS I-NP +became VBD B-VP +contractual JJ B-ADJP +in IN B-PP +either DT B-NP +1966 CD I-NP +or CC I-NP +1967 CD I-NP +, , O +intelligence NN B-NP +officials NNS I-NP +say VBP B-VP +. . O + +His PRP$ B-NP +commanding NN I-NP +officer NN I-NP +at IN B-PP +the DT B-NP +Chiriqui NNP I-NP +Province NNP I-NP +garrison NN I-NP +, , O +Major NNP B-NP +Omar NNP I-NP +Torrijos NNP I-NP +, , O +gave VBD B-VP +him PRP B-NP +an DT B-NP +intriguing JJ I-NP +assignment NN I-NP +: : O +Mr. NNP B-NP +Noriega NNP I-NP +would MD B-VP +organize VB I-VP +the DT B-NP +province NN I-NP +'s POS B-NP +first JJ I-NP +intelligence NN I-NP +service NN I-NP +. . O + +The DT B-NP +spy NN I-NP +network NN I-NP +would MD B-VP +serve VB I-VP +two CD B-NP +clients NNS I-NP +: : O +the DT B-NP +Panamanian JJ I-NP +government NN I-NP +, , O +by IN B-PP +monitoring VBG B-VP +political JJ B-NP +opponents NNS I-NP +in IN B-PP +the DT B-NP +region NN I-NP +, , O +and CC O +the DT B-NP +U.S. NNP I-NP +, , O +by IN B-PP +tracking VBG B-VP +the DT B-NP +growing VBG I-NP +Communist NNP I-NP +influence NN I-NP +in IN B-PP +the DT B-NP +unions NNS I-NP +organized VBN B-VP +at IN B-PP +United NNP B-NP +Fruit NNP I-NP +Co. NNP I-NP +'s POS B-NP +banana NN I-NP +plantations NNS I-NP +in IN B-PP +Bocas NNP B-NP +del NNP I-NP +Toros NNP I-NP +and CC O +Puerto NNP B-NP +Armuelles NNP I-NP +. . O + +United NNP B-NP +Fruit NNP I-NP +was VBD B-VP +one CD B-NP +of IN B-PP +the DT B-NP +two CD I-NP +largest JJS I-NP +contributors NNS I-NP +to TO B-PP +Panama NNP B-NP +'s POS B-NP +national JJ I-NP +income NN I-NP +. . O + +Satisfying VBG B-VP +its PRP$ B-NP +interests NNS I-NP +was VBD B-VP +a DT B-NP +priority NN I-NP +for IN B-PP +any DT B-NP +Panamanian JJ I-NP +leader NN I-NP +. . O + +Mr. NNP B-NP +Noriega NNP I-NP +'s POS B-NP +initial JJ I-NP +retainer NN I-NP +was VBD B-VP +only RB B-NP +$ $ I-NP +50 CD I-NP +to TO I-NP +$ $ I-NP +100 CD I-NP +a DT B-NP +month NN I-NP +, , O +plus CC O +occasional JJ B-NP +gifts NNS I-NP +of IN B-PP +liquor NN B-NP +or CC I-NP +groceries NNS I-NP +from IN B-PP +the DT B-NP +American NNP I-NP +PX NNP I-NP +, , O +a DT B-NP +former JJ I-NP +intelligence NN I-NP +official NN I-NP +says NNS B-VP +. . O + +It PRP B-NP +was VBD B-VP +modest JJ B-NP +pay NN I-NP +by IN B-PP +American JJ B-NP +standards NNS I-NP +, , O +but CC O +a DT B-NP +healthy JJ I-NP +boost NN I-NP +to TO B-PP +his PRP$ B-NP +small JJ I-NP +military JJ I-NP +salary NN I-NP +, , O +which WDT B-NP +fellow NN B-NP +officers NNS I-NP +remember VBP B-VP +as IN B-PP +having VBG B-VP +been VBN I-VP +$ $ B-NP +300 CD I-NP +to TO I-NP +$ $ I-NP +400 CD I-NP +monthly JJ B-ADVP +. . O + +`` `` O +He PRP B-NP +did VBD B-VP +it PRP B-NP +very RB B-ADVP +well RB I-ADVP +, , O +'' '' O +recalls VBZ B-VP +Boris NNP B-NP +Martinez NNP I-NP +, , O +a DT B-NP +former JJ I-NP +Panamanian JJ I-NP +colonel NN I-NP +who WP B-NP +managed VBD B-VP +Mr. NNP B-NP +Noriega NNP I-NP +and CC O +his PRP$ B-NP +operation NN I-NP +. . O + +`` `` O +He PRP B-NP +started VBD B-VP +building VBG I-VP +the DT B-NP +files NNS I-NP +that WDT B-NP +helped VBD B-VP +him PRP B-NP +gain VBP B-VP +power NN B-NP +. . O +'' '' O + +A DT B-NP +National NNP I-NP +Guard NNP I-NP +job NN I-NP +assumed VBN B-VP +by IN B-PP +Capt. NNP B-NP +Noriega NNP I-NP +in IN B-PP +1964 CD B-NP +-- : O +as IN B-PP +chief NN B-NP +of IN B-PP +the DT B-NP +transit NN I-NP +police NN I-NP +in IN B-PP +David NNP B-NP +City NNP I-NP +, , O +capital NN B-NP +of IN B-PP +the DT B-NP +Chiriqui NNP I-NP +Province NNP I-NP +-- : O +was VBD B-VP +tailor-made JJ B-ADJP +for IN B-PP +an DT B-NP +aspiring JJ I-NP +super-spy NN I-NP +. . O + +By IN B-PP +pressuring VBG B-VP +taxi NN B-NP +and CC I-NP +bus NN I-NP +drivers NNS I-NP +who WP B-NP +needed VBD B-VP +licenses NNS B-NP +, , O +he PRP B-NP +gained VBD B-VP +a DT B-NP +ready JJ I-NP +cache NN I-NP +of IN B-PP +information NN B-NP +. . O + +He PRP B-NP +knew VBD B-VP +which WDT B-NP +local JJ I-NP +luminaries NNS I-NP +had VBD B-VP +been VBN I-VP +caught VBN I-VP +driving VBG B-VP +drunk JJ B-ADVP +, , O +which WDT B-NP +had VBD B-VP +been VBN I-VP +found VBN I-VP +with IN B-PP +their PRP$ B-NP +mistresses NNS I-NP +. . O + +This DT B-NP +proved VBD B-VP +particularly RB B-ADJP +valuable JJ I-ADJP +to TO B-PP +the DT B-NP +Panamanian JJ I-NP +government NN I-NP +in IN B-PP +1967 CD B-NP +, , O +when WRB B-ADVP +union NN B-NP +leaders NNS I-NP +were VBD B-VP +planning VBG I-VP +a DT B-NP +May NNP I-NP +Day NNP I-NP +march NN I-NP +that IN B-NP +the DT B-NP +government NN I-NP +feared VBD B-VP +could MD B-VP +turn VB I-VP +violent JJ B-ADJP +. . O + +Mr. NNP B-NP +Noriega NNP I-NP +had VBD B-VP +learned VBN I-VP +that IN B-SBAR +a DT B-NP +local JJ I-NP +union NN I-NP +leader NN I-NP +was VBD B-VP +sleeping VBG I-VP +with IN B-PP +the DT B-NP +wife NN I-NP +of IN B-PP +his PRP$ B-NP +deputy NN I-NP +. . O + +So RB O +he PRP B-NP +splashed VBD B-VP +the DT B-NP +information NN I-NP +on IN B-PP +handbills NNS B-NP +that IN B-NP +he PRP B-NP +distributed VBD B-VP +throughout IN B-PP +the DT B-NP +banana-exporting JJ I-NP +city NN I-NP +of IN B-PP +Puerto NNP B-NP +Armuelles NNP I-NP +, , O +which WDT B-NP +was VBD B-VP +ruled VBN I-VP +by IN B-PP +United NNP B-NP +Fruit NNP I-NP +Co NNP I-NP +. . O + +The DT B-NP +campaign NN I-NP +so RB B-VP +divided VBD I-VP +union NN B-NP +leaders NNS I-NP +that IN B-SBAR +the DT B-NP +government NN I-NP +found VBD B-VP +them PRP B-NP +far RB B-ADJP +easier JJR I-ADJP +to TO B-VP +control VB I-VP +. . O + +`` `` O +It PRP B-NP +was VBD B-VP +like IN B-PP +a DT B-NP +play NN I-NP +on IN B-PP +Broadway NNP B-NP +, , O +'' '' O +recalls VBZ B-VP +Mr. NNP B-NP +Martinez NNP I-NP +. . O + +`` `` O +Noriega NNP B-NP +managed VBD B-VP +the DT B-NP +whole JJ I-NP +thing NN I-NP +. . O + +He PRP B-NP +was VBD B-VP +superb JJ B-ADJP +. . O + +Noriega NNP B-NP +was VBD B-VP +an DT B-NP +expert NN I-NP +at IN B-PP +bribing VBG B-VP +and CC I-VP +blackmailing VBG I-VP +people NNS B-NP +. . O +'' '' O + +During IN B-PP +his PRP$ B-NP +years NNS I-NP +in IN B-PP +Chiriqui NNP B-NP +, , O +however RB B-ADVP +, , O +Mr. NNP B-NP +Noriega NNP I-NP +also RB B-ADVP +revealed VBD B-VP +himself PRP B-NP +as IN B-PP +an DT B-NP +officer NN I-NP +as RB B-ADJP +perverse JJ I-ADJP +as IN B-SBAR +he PRP B-NP +was VBD B-VP +ingenious JJ B-ADJP +. . O + +Rodrigo NNP B-NP +Miranda NNP I-NP +, , O +a DT B-NP +local JJ I-NP +lawyer NN I-NP +and CC I-NP +human-rights JJ I-NP +monitor NN I-NP +, , O +recalls VBZ B-VP +an DT B-NP +intoxicated JJ I-NP +Noriega NNP I-NP +visiting VBG B-VP +prisoners NNS B-NP +in IN B-PP +their PRP$ B-NP +cells NNS I-NP +at IN B-PP +the DT B-NP +5th NNP I-NP +Zone NNP I-NP +Garrison NNP I-NP +headquarters NN I-NP +in IN B-PP +David NNP B-NP +, , O +where WRB B-ADVP +he PRP B-NP +had VBD B-VP +his PRP$ B-NP +offices NNS I-NP +. . O + +Mr. NNP B-NP +Noriega NNP I-NP +would MD B-VP +order VB I-VP +them PRP B-NP +all DT B-ADVP +to TO B-VP +take VB I-VP +off IN O +their PRP$ B-NP +clothes NNS I-NP +and CC O +run VB B-VP +around IN B-PP +the DT B-NP +courtyard NN I-NP +naked JJ B-ADVP +, , O +laughing VBG B-VP +at IN B-PP +them PRP B-NP +and CC O +then RB B-ADVP +retreating VBG B-VP +to TO B-PP +his PRP$ B-NP +office NN I-NP +. . O + +`` `` O +People NNS B-NP +started VBD B-VP +wondering VBG I-VP +if IN B-SBAR +something NN B-NP +was VBD B-VP +wrong JJ B-ADJP +with IN B-PP +him PRP B-NP +, , O +'' '' O +Mr. NNP B-NP +Miranda NNP I-NP +recalls VBZ B-VP +. . O + +But CC O +through IN B-PP +this DT B-NP +period NN I-NP +, , O +so RB B-ADVP +far RB I-ADVP +as IN B-SBAR +the DT B-NP +U.S. NNP I-NP +military NN I-NP +was VBD B-VP +concerned VBN I-VP +, , O +Mr. NNP B-NP +Noriega NNP I-NP +was VBD B-VP +a DT B-NP +model NN I-NP +recruit NN I-NP +. . O + +He PRP B-NP +signed VBD B-VP +up IN B-PRT +for IN B-PP +intelligence NN B-NP +and CC I-NP +counter-intelligence JJ I-NP +training NN I-NP +under IN B-PP +American JJ B-NP +officers NNS I-NP +at IN B-PP +Fort NNP B-NP +Gulick NNP I-NP +in IN B-PP +Panama NNP B-NP +in IN B-PP +July NNP B-NP +1967 CD I-NP +, , O +according VBG B-PP +to TO B-PP +a DT B-NP +copy NN I-NP +of IN B-PP +a DT B-NP +1983 CD I-NP +resume NN I-NP +with IN B-PP +details NNS B-NP +Mr. NNP B-NP +Noriega NNP I-NP +has VBZ B-VP +since IN I-VP +classified VBN I-VP +as IN B-PP +secret NN B-ADJP +. . O + +He PRP B-NP +flew VBD B-VP +to TO B-PP +Fort NNP B-NP +Bragg NNP I-NP +, , O +N.C. NNP B-NP +, , O +in IN B-PP +September NNP B-NP +of IN B-PP +that DT B-NP +year NN I-NP +for IN B-PP +a DT B-NP +course NN I-NP +in IN B-PP +psychological JJ B-NP +operations NNS I-NP +, , O +returning VBG B-VP +to TO B-PP +the DT B-NP +School NNP I-NP +of IN B-PP +the DT B-NP +Americas NNP I-NP +in IN B-PP +Panama NNP B-NP +for IN B-PP +a DT B-NP +two-month JJ I-NP +course NN I-NP +called VBN B-VP +`` `` O +military JJ B-NP +intelligence NN I-NP +for IN B-PP +officers NNS B-NP +. . O +'' '' O + +Some DT B-NP +American JJ I-NP +officers NNS I-NP +interpreted VBD B-VP +his PRP$ B-NP +eagerness NN I-NP +and CC I-NP +studiousness NN I-NP +as IN B-PP +a DT B-NP +sign NN I-NP +of IN B-PP +loyalty NN B-NP +, , O +but CC O +they PRP B-NP +did VBD B-VP +so RB B-ADVP +falsely RB B-ADVP +. . O + +He PRP B-NP +rose VBD B-VP +to TO B-PP +chief NN B-NP +of IN B-PP +intelligence NN B-NP +in IN B-PP +Panama NNP B-NP +'s POS B-NP +socalled JJ I-NP +G-2 NN I-NP +in IN B-PP +1970 CD B-NP +after IN B-PP +providing VBG B-VP +populist JJ B-NP +dictator NN I-NP +Torrijos NNP B-NP +the DT B-NP +critical JJ I-NP +support NN I-NP +to TO B-VP +defeat VB I-VP +a DT B-NP +coup NN I-NP +attempt NN I-NP +against IN B-PP +him PRP B-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +He PRP B-NP +became VBD B-VP +Gen. NNP B-NP +Torrijos NNP I-NP +'s POS B-NP +inseparable JJ I-NP +shadow NN I-NP +, , O +and CC O +the DT B-NP +holder NN I-NP +of IN B-PP +all DT B-NP +Panama NNP I-NP +'s POS B-NP +secrets NNS I-NP +. . O + +Mr. NNP B-NP +Noriega NNP I-NP +, , O +by IN B-PP +now RB B-NP +a DT B-NP +lieutenant NN I-NP +colonel NN I-NP +, , O +expanded VBD B-VP +his PRP$ B-NP +contacts NNS I-NP +to TO B-VP +include VB I-VP +the DT B-NP +Cubans NNPS I-NP +-- : O +not RB B-CONJP +to TO O +mention VB O +the DT B-NP +Israelis NNPS I-NP +, , O +the DT B-NP +Taiwanese JJ I-NP +and CC O +any DT B-NP +other JJ I-NP +intelligence NN I-NP +service NN I-NP +that WDT B-NP +came VBD B-VP +knocking VBG I-VP +. . O + +When WRB B-ADVP +U.S. NNP B-NP +diplomats NNS I-NP +complained VBD B-VP +to TO B-PP +the DT B-NP +CIA NNP I-NP +of IN B-PP +Col. NNP B-NP +Noriega NNP I-NP +'s POS B-NP +moonlighting NN I-NP +, , O +intelligence NN B-NP +experts NNS I-NP +always RB B-ADVP +insisted VBD B-VP +that IN O +his PRP$ B-NP +allegiance NN I-NP +was VBD B-VP +first JJ B-ADVP +to TO B-PP +the DT B-NP +Americans NNPS I-NP +. . O + +`` `` O +Early RB B-ADVP +on IN I-ADVP +in IN B-PP +the DT B-NP +State NNP I-NP +Department NNP I-NP +, , O +we PRP B-NP +took VBD B-VP +to TO B-PP +calling VBG B-VP +him PRP B-NP +the DT B-NP +rent-a-colonel NN I-NP +, , O +in IN B-PP +tribute NN B-NP +to TO B-PP +his PRP$ B-NP +ability NN I-NP +to TO B-VP +simultaneously RB I-VP +milk NN I-VP +the DT B-NP +antagonistic JJ I-NP +intelligence NN I-NP +services NNS I-NP +of IN B-PP +Cuba NNP B-NP +and CC O +the DT B-NP +United NNP I-NP +States NNPS I-NP +, , O +'' '' O +recalls VBZ B-VP +Francis NNP B-NP +J. NNP I-NP +McNeil NNP I-NP +, , O +who WP B-NP +, , O +as IN B-PP +deputy NN B-NP +assistant NN I-NP +secretary NN I-NP +of IN B-PP +state NN B-NP +for IN B-PP +inter-American JJ B-NP +affairs NNS I-NP +, , O +first JJ B-ADVP +ran VBD B-VP +across IN B-PP +reports NNS B-NP +about IN B-PP +Mr. NNP B-NP +Noriega NNP I-NP +in IN B-PP +1977 CD B-NP +. . O + +`` `` O +Some DT B-NP +of IN B-PP +us PRP B-NP +wondered VBD B-VP +how WRB B-ADVP +our PRP$ B-NP +intelligence NN I-NP +people NNS I-NP +could MD B-VP +put VB I-VP +so RB B-NP +much JJ I-NP +stock NN I-NP +in IN B-PP +his PRP$ B-NP +information NN I-NP +when WRB B-ADVP +he PRP B-NP +was VBD B-VP +just RB B-ADJP +as IN I-ADJP +close RB I-ADJP +to TO B-PP +the DT B-NP +Cubans NNPS I-NP +. . O +'' '' O + +Even RB B-ADVP +at IN B-PP +this DT B-NP +early JJ I-NP +stage NN I-NP +, , O +drugs NNS B-NP +caused VBD B-VP +additional JJ B-NP +concerns NNS I-NP +. . O + +During IN B-PP +the DT B-NP +Nixon NNP I-NP +administration NN I-NP +, , O +the DT B-NP +Drug NNP I-NP +Enforcement NNP I-NP +Administration NNP I-NP +became VBD B-VP +dismayed VBN I-VP +at IN B-PP +the DT B-NP +extent NN I-NP +of IN B-PP +the DT B-NP +G-2 NN I-NP +'s POS B-NP +connections NNS I-NP +to TO B-PP +arrested VBN B-NP +drug NN I-NP +traffickers NNS I-NP +. . O + +One CD B-NP +DEA NNP I-NP +agent NN I-NP +drew VBD B-VP +up IN B-PRT +a DT B-NP +list NN I-NP +of IN B-PP +five CD B-NP +options NNS I-NP +for IN B-PP +dealing VBG B-VP +with IN B-PP +Col. NNP B-NP +Noriega NNP I-NP +, , O +one CD B-NP +of IN B-PP +which WDT B-NP +was VBD B-VP +assassination NN B-NP +. . O + +The DT B-NP +head NN I-NP +of IN B-PP +the DT B-NP +DEA NNP I-NP +at IN B-PP +the DT B-NP +time NN I-NP +, , O +John NNP B-NP +Ingersoll NNP I-NP +, , O +scotched VBD B-VP +the DT B-NP +assassination NN I-NP +plan NN I-NP +. . O + +But CC O +he PRP B-NP +did VBD B-VP +fly VB I-VP +to TO B-PP +Panama NNP B-NP +to TO B-VP +scold VB I-VP +dictator NN B-NP +Torrijos NNP I-NP +on IN B-PP +the DT B-NP +drug NN I-NP +ties NNS I-NP +of IN B-PP +Panamanian JJ B-NP +officials NNS I-NP +, , O +including VBG B-PP +Mr. NNP B-NP +Noriega NNP I-NP +. . O + +Mr. NNP B-NP +Ingersoll NNP I-NP +later RB B-ADVP +recalled VBD B-VP +that IN B-SBAR +Gen. NNP B-NP +Torrijos NNP I-NP +seemed VBD B-VP +afraid JJ B-ADJP +to TO B-VP +act VB I-VP +on IN B-PP +the DT B-NP +concerns NNS I-NP +of IN B-PP +the DT B-NP +U.S. NNP I-NP +. . O + +`` `` O +Everybody NN B-NP +was VBD B-VP +afraid JJ B-ADJP +of IN B-PP +him PRP B-NP +, , O +'' '' O +Mr. NNP B-NP +Ingersoll NNP I-NP +says VBZ B-VP +. . O + +Mr. NNP B-NP +Noriega NNP I-NP +became VBD B-VP +an DT B-NP +even RB I-NP +greater JJR I-NP +threat NN I-NP +in IN B-PP +1976 CD B-NP +, , O +when WRB B-ADVP +U.S. NNP B-NP +intelligence NN I-NP +services NNS I-NP +discovered VBN B-VP +that IN B-SBAR +he PRP B-NP +had VBD B-VP +been VBN I-VP +buying VBG I-VP +recordings NNS B-NP +of IN B-PP +electronically RB B-NP +monitored VBN I-NP +conversations NNS I-NP +from IN B-PP +three CD B-NP +sergeants NNS I-NP +working VBG B-VP +for IN B-PP +the DT B-NP +U.S. NNP I-NP +Army NNP I-NP +'s POS B-NP +470th NNP I-NP +Military NNP I-NP +Intelligence NNP I-NP +Group NNP I-NP +. . O + +The DT B-NP +tapes NNS I-NP +included VBD B-VP +wiretaps NNS B-NP +of IN B-PP +Gen. NNP B-NP +Torrijos NNP I-NP +'s POS B-NP +own JJ I-NP +phone NN I-NP +, , O +according VBG B-PP +to TO B-PP +American JJ B-NP +intelligence NN I-NP +officials NNS I-NP +. . O + +`` `` O +We PRP B-NP +caught VBD B-VP +him PRP B-NP +with IN B-PP +his PRP$ B-NP +hands NNS I-NP +on IN B-PP +our PRP$ B-NP +cookie NN I-NP +jar NN I-NP +, , O +'' '' O +says VBZ B-VP +former JJ B-NP +CIA NNP I-NP +Director NNP I-NP +Stansfield NNP I-NP +Turner NNP I-NP +. . O + +For IN B-PP +the DT B-NP +first JJ I-NP +time NN I-NP +, , O +the DT B-NP +U.S. NNP I-NP +considered VBD B-VP +cutting VBG I-VP +Mr. NNP B-NP +Noriega NNP I-NP +from IN B-PP +its PRP$ B-NP +intelligence NN I-NP +payroll NN I-NP +-- : O +and CC O +the DT B-NP +deliberations NNS I-NP +were VBD B-VP +intense JJ B-ADJP +, , O +Mr. NNP B-NP +Turner NNP I-NP +says VBZ B-VP +. . O + +`` `` O +In IN B-PP +the DT B-NP +world NN I-NP +of IN B-PP +intelligence NN B-NP +, , O +if IN B-SBAR +you PRP B-NP +want VBP B-VP +to TO I-VP +get VB I-VP +information NN B-NP +, , O +you PRP B-NP +get VBP B-VP +it PRP B-NP +from IN B-PP +seedy JJ B-NP +characters NNS I-NP +. . O + +The DT B-NP +question NN I-NP +is VBZ B-VP +how WRB B-ADVP +much JJ I-ADVP +you PRP B-NP +get VBP B-VP +tied VBN I-VP +in IN B-PRT +with IN B-PP +seedy JJ B-NP +characters NNS I-NP +so IN B-SBAR +they PRP B-NP +can MD B-VP +extort VB I-VP +you PRP B-NP +. . O +'' '' O + +Intelligence NN B-NP +officials NNS I-NP +to TO B-PP +this DT B-NP +day NN I-NP +worry NN B-VP +whether IN B-SBAR +Mr. NNP B-NP +Noriega NNP I-NP +sold VBD B-VP +sensitive JJ B-NP +information NN I-NP +on IN B-PP +the DT B-NP +recordings NNS I-NP +to TO B-PP +the DT B-NP +Cubans NNPS I-NP +or CC O +others NNS B-NP +. . O + +Mr. NNP B-NP +Turner NNP I-NP +was VBD B-VP +troubled JJ I-VP +enough RB B-ADVP +to TO B-VP +cancel VB I-VP +the DT B-NP +U.S. NNP I-NP +contract NN I-NP +with IN B-PP +the DT B-NP +rent-a-colonel NN I-NP +at IN B-PP +the DT B-NP +beginning NN I-NP +of IN B-PP +the DT B-NP +Carter NNP I-NP +administration NN I-NP +. . O + +The DT B-NP +U.S. NNP I-NP +soon RB B-ADVP +found VBD B-VP +new JJ B-NP +cause NN I-NP +for IN B-PP +concern NN B-NP +: : O +gun-running JJ B-NP +. . O + +Prosecutors NNS B-NP +in IN B-PP +Southern NNP B-NP +Florida NNP I-NP +indicted VBD B-VP +five CD B-NP +Panamanians NNS I-NP +on IN B-PP +charges NNS B-NP +of IN B-PP +illegally RB B-VP +running VBG I-VP +arms NNS B-NP +to TO B-PP +Sandinista NNP B-NP +rebels NNS I-NP +trying VBG B-VP +to TO I-VP +overthrow VB I-VP +the DT B-NP +Nicaraguan JJ I-NP +government NN I-NP +of IN B-PP +Mr. NNP B-NP +Somoza NNP I-NP +. . O + +They PRP B-NP +included VBD B-VP +one CD B-NP +of IN B-PP +Mr. NNP B-NP +Noriega NNP I-NP +'s POS B-NP +closest JJS I-NP +friends NNS I-NP +and CC I-NP +business NN I-NP +partners NNS I-NP +, , O +Carlos NNP B-NP +Wittgreen NNP I-NP +. . O + +And CC O +the DT B-NP +investigators NNS I-NP +were VBD B-VP +quickly RB I-VP +closing VBG I-VP +in IN B-PRT +on IN B-PP +Mr. NNP B-NP +Noriega NNP I-NP +himself PRP B-NP +. . O + +At IN B-PP +the DT B-NP +time NN I-NP +, , O +though RB B-ADVP +, , O +in IN B-PP +1979 CD B-NP +, , O +the DT B-NP +U.S. NNP I-NP +was VBD B-VP +once RB I-VP +again RB I-VP +flirting VBG I-VP +with IN B-PP +its PRP$ B-NP +longtime JJ I-NP +Latin NNP I-NP +American JJ I-NP +spy NN I-NP +. . O + +Mr. NNP B-NP +Noriega NNP I-NP +made VBD B-VP +plans NNS B-NP +to TO B-VP +fly VB I-VP +to TO B-PP +Washington NNP B-NP +for IN B-PP +a DT B-NP +meeting NN I-NP +with IN B-PP +his PRP$ B-NP +counterpart NN I-NP +at IN B-PP +the DT B-NP +Pentagon NNP I-NP +. . O + +Dade NNP B-NP +County NNP I-NP +and CC I-NP +federal JJ I-NP +authorities NNS I-NP +, , O +learning VBG B-VP +that IN B-SBAR +he PRP B-NP +intended VBD B-VP +to TO I-VP +fly VB I-VP +through IN B-PP +Miami NNP B-NP +, , O +made VBN B-VP +plans NNS B-NP +to TO B-VP +arrest VB I-VP +him PRP B-NP +on IN B-PP +the DT B-NP +gun-running JJ I-NP +charges NNS I-NP +as RB B-ADVP +soon RB I-ADVP +as IN B-SBAR +he PRP B-NP +hit VBD B-VP +U.S. NNP B-NP +soil NN I-NP +. . O + +It PRP B-NP +was VBD B-VP +a DT B-NP +Friday NNP I-NP +in IN B-PP +June NNP B-NP +. . O + +The DT B-NP +Pentagon NNP I-NP +foiled VBD B-VP +the DT B-NP +plan NN I-NP +. . O + +According VBG B-PP +to TO B-PP +military JJ B-NP +officers NNS I-NP +at IN B-PP +the DT B-NP +time NN I-NP +, , O +word NN B-NP +was VBD B-VP +passed VBN I-VP +to TO B-PP +Mr. NNP B-NP +Noriega NNP I-NP +by IN B-PP +his PRP$ B-NP +American JJ I-NP +hosts NNS I-NP +that IN B-SBAR +the DT B-NP +police NN I-NP +would MD B-VP +be VB I-VP +waiting VBG I-VP +. . O + +On IN B-PP +Monday NNP B-NP +, , O +U.S. NNP B-NP +officials NNS I-NP +received VBD B-VP +a DT B-NP +routine NN I-NP +, , I-NP +unclassified JJ I-NP +message NN I-NP +from IN B-PP +the DT B-NP +military JJ I-NP +group NN I-NP +commander NN I-NP +in IN B-PP +Panama NNP B-NP +. . O + +`` `` O +Due JJ B-PP +to TO I-PP +health NN B-NP +reasons NNS I-NP +, , O +Lt. NNP B-NP +Col. NNP I-NP +Noriega NNP I-NP +has VBZ B-VP +elected VBN I-VP +to TO I-VP +postpone VB I-VP +his PRP$ B-NP +visit NN I-NP +to TO B-PP +Washington NNP B-NP +, , O +'' '' O +it PRP B-NP +read VBP B-VP +. . O + +Prosecutors NNS B-NP +in IN B-PP +Miami NNP B-NP +received VBD B-VP +yet RB B-NP +another DT I-NP +setback NN I-NP +. . O + +Their PRP$ B-NP +original JJ I-NP +indictment NN I-NP +against IN B-PP +Mr. NNP B-NP +Wittgreen NNP I-NP +, , O +the DT B-NP +friend NN I-NP +of IN B-PP +Mr. NNP B-NP +Noriega NNP I-NP +, , O +and CC O +the DT B-NP +other JJ I-NP +four CD I-NP +was VBD B-VP +dismissed VBN I-VP +on IN B-PP +a DT B-NP +technicality NN I-NP +. . O + +But CC O +now RB B-ADVP +, , O +along IN B-ADVP +with IN B-PP +reindicting VBG B-VP +Mr. NNP B-NP +Noriega NNP I-NP +'s POS B-NP +pal NN I-NP +, , O +they PRP B-NP +intended VBD B-VP +to TO I-VP +charge VB I-VP +Mr. NNP B-NP +Noriega NNP I-NP +himself PRP B-NP +, , O +on IN B-PP +allegations NNS B-NP +that IN B-SBAR +he PRP B-NP +was VBD B-VP +involved VBN I-VP +in IN B-PP +the DT B-NP +illegal JJ I-NP +trading NN I-NP +of IN B-PP +some DT B-NP +$ $ I-NP +2 CD I-NP +million CD I-NP +in IN B-PP +arms NNS B-NP +. . O + +In IN B-PP +January NNP B-NP +1980 CD I-NP +, , O +Jerome NNP B-NP +Sanford NNP I-NP +, , O +as IN B-PP +assistant NN B-NP +U.S. NNP I-NP +attorney NN I-NP +, , O +was VBD B-VP +summoned VBN I-VP +to TO B-PP +a DT B-NP +meeting NN I-NP +with IN B-PP +a DT B-NP +Federal NNP I-NP +Bureau NNP I-NP +of IN B-PP +Investigation NNP B-NP +agent NN B-NP +assigned VBN B-VP +to TO B-PP +the DT B-NP +Bureau NNP I-NP +of IN B-PP +Alcohol NN B-NP +, , I-NP +Tobacco NNP I-NP +and CC I-NP +Firearms NNP I-NP +in IN B-PP +Miami NNP B-NP +. . O + +Panamanian JJ B-NP +dictator NN I-NP +Torrijos NNP B-NP +, , O +he PRP B-NP +was VBD B-VP +told VBN I-VP +, , O +had VBD B-VP +granted VBN I-VP +the DT B-NP +shah NN I-NP +of IN B-PP +Iran NNP B-NP +asylum NN B-NP +in IN B-PP +Panama NNP B-NP +as IN B-PP +a DT B-NP +favor NN I-NP +to TO B-PP +Washington NNP B-NP +. . O + +Mr. NNP B-NP +Sanford NNP I-NP +was VBD B-VP +told VBN I-VP +Mr. NNP B-NP +Noriega NNP I-NP +'s POS B-NP +friend NN I-NP +, , O +Mr. NNP B-NP +Wittgreen NNP I-NP +, , O +would MD B-VP +be VB I-VP +handling VBG I-VP +the DT B-NP +shah NN I-NP +'s POS B-NP +security NN I-NP +. . O + +It PRP B-NP +would MD B-VP +n't RB I-VP +be VB I-VP +a DT B-NP +good JJ I-NP +idea NN I-NP +to TO O +indict VB B-VP +him PRP B-NP +-- : O +much RB B-ADVP +less JJR I-ADVP +Mr. NNP B-NP +Noriega NNP I-NP +, , O +the DT B-NP +prosecutor NN I-NP +was VBD B-VP +told VBN I-VP +. . O + +After IN B-PP +prodding VBG B-NP +from IN B-PP +Mr. NNP B-NP +Sanford NNP I-NP +, , O +U.S. NNP B-NP +Attorney NNP I-NP +Jack NNP I-NP +Eskenazi NNP I-NP +pleaded VBD B-VP +with IN B-PP +Justice NNP B-NP +Department NNP I-NP +officials NNS I-NP +in IN B-PP +Washington NNP B-NP +to TO B-VP +let VB I-VP +the DT B-NP +indictment NN I-NP +proceed VB B-VP +. . O + +`` `` O +Unfortunately RB B-ADVP +, , O +'' '' O +Mr. NNP B-NP +Eskenazi NNP I-NP +wrote VBD B-VP +in IN B-PP +a DT B-NP +letter NN I-NP +, , O +`` `` O +those DT B-NP +of IN B-PP +us PRP B-NP +in IN B-PP +law NN B-NP +enforcement NN I-NP +in IN B-PP +Miami NNP B-NP +find NN B-VP +ourselves PRP B-NP +frequently RB B-VP +attempting VBG I-VP +to TO I-VP +enforce VB I-VP +the DT B-NP +laws NNS I-NP +of IN B-PP +the DT B-NP +United NNP I-NP +States NNPS I-NP +but CC O +simultaneously RB B-VP +being VBG I-VP +caught VBN I-VP +between IN B-PP +foreign JJ B-NP +policy NN I-NP +considerations NNS I-NP +over IN B-PP +which WDT B-NP +we PRP B-NP +have VBP B-VP +no DT B-NP +control NN I-NP +. . O +'' '' O + +The DT B-NP +letter NN I-NP +, , O +along IN B-ADVP +with IN B-PP +a DT B-NP +detailed VBN I-NP +prosecution NN I-NP +memo NN I-NP +, , O +sat VBD B-VP +on IN B-PP +the DT B-NP +desks NNS I-NP +of IN B-PP +Justice NNP B-NP +officials NNS I-NP +for IN B-PP +months NNS B-NP +before IN B-SBAR +the DT B-NP +case NN I-NP +died VBD B-VP +a DT B-NP +quiet JJ I-NP +death NN I-NP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +if IN B-SBAR +we PRP B-NP +had VBD B-VP +been VBN I-VP +allowed VBN I-VP +to TO I-VP +go VB I-VP +ahead RB B-ADVP +then RB B-ADVP +we PRP B-NP +would MD B-VP +n't RB I-VP +have VB I-VP +the DT B-NP +problems NNS I-NP +we PRP B-NP +have VBP B-VP +now RB B-ADVP +, , O +'' '' O +Mr. NNP B-NP +Sanford NNP I-NP +says VBZ B-VP +. . O + +`` `` O +If IN B-SBAR +he PRP B-NP +had VBD B-VP +been VBN I-VP +found VBN I-VP +guilty JJ B-ADJP +, , O +we PRP B-NP +could MD B-VP +have VB I-VP +stopped VBN I-VP +him PRP B-NP +. . O +'' '' O + +In IN B-PP +August NNP B-NP +1983 CD I-NP +, , O +Mr. NNP B-NP +Noriega NNP I-NP +took VBD B-VP +over IN B-PRT +as IN B-PP +General NNP B-NP +and CC O +de-facto JJ B-NP +dictator NN I-NP +of IN B-PP +Panama NNP B-NP +, , O +having VBG B-VP +maneuvered VBN I-VP +his PRP$ B-NP +way NN I-NP +to TO B-PP +the DT B-NP +top JJ I-NP +only RB B-NP +two CD I-NP +years NNS I-NP +after IN B-PP +the DT B-NP +mysterious JJ I-NP +death NN I-NP +in IN B-PP +a DT B-NP +plane NN I-NP +crash NN I-NP +of IN B-PP +his PRP$ B-NP +old JJ I-NP +boss NN I-NP +Omar NNP I-NP +Torrijos NNP I-NP +. . O + +Soon RB B-ADVP +, , O +the DT B-NP +military NN I-NP +became VBD B-VP +a DT B-NP +veritable JJ I-NP +mafia NN I-NP +controlling VBG B-VP +legal JJ B-NP +and CC I-NP +illegal JJ I-NP +businesses NNS I-NP +. . O + +The DT B-NP +Reagan NNP I-NP +administration NN I-NP +also RB B-ADVP +put VB B-VP +Mr. NNP B-NP +Noriega NNP I-NP +'s POS B-NP +G-2 NN I-NP +back RB B-ADVP +on IN B-PP +the DT B-NP +U.S. NNP I-NP +payroll NN I-NP +. . O + +Payments NNS B-NP +averaged VBD B-VP +nearly RB B-NP +$ $ I-NP +200,000 CD I-NP +a DT B-NP +year NN I-NP +from IN B-PP +the DT B-NP +U.S. NNP I-NP +Defense NNP I-NP +Intelligence NNP I-NP +Agency NNP I-NP +and CC O +the DT B-NP +CIA NNP I-NP +. . O + +Although IN B-SBAR +working VBG B-VP +for IN B-PP +U.S. NNP B-NP +intelligence NN I-NP +, , O +Mr. NNP B-NP +Noriega NNP I-NP +was VBD B-VP +hardly RB I-VP +helping VBG I-VP +the DT B-NP +U.S. NNP I-NP +exclusively RB B-ADVP +. . O + +During IN B-PP +the DT B-NP +Reagan NNP I-NP +years NNS I-NP +he PRP B-NP +expanded VBD B-VP +his PRP$ B-NP +business NN I-NP +and CC I-NP +intelligence NN I-NP +contacts NNS I-NP +with IN B-PP +the DT B-NP +Cubans NNPS I-NP +and CC O +the DT B-NP +Sandinistas NNPS I-NP +. . O + +He PRP B-NP +allegedly RB B-ADVP +entered VBD B-VP +into IN B-PP +Panama NNP B-NP +'s POS B-NP +first JJ I-NP +formal JJ I-NP +business NN I-NP +arrangement NN I-NP +with IN B-PP +Colombian JJ B-NP +drug NN I-NP +bosses NNS I-NP +, , O +according VBG B-PP +to TO B-PP +Floyd NNP B-NP +Carlton NNP I-NP +, , O +a DT B-NP +pilot NN I-NP +who WP B-NP +once RB B-ADVP +worked VBD B-VP +for IN B-PP +Mr. NNP B-NP +Noriega NNP I-NP +and CC O +who WP B-NP +testified VBD B-VP +before IN B-PP +the DT B-NP +U.S. NNP I-NP +grand JJ I-NP +jury NN I-NP +in IN B-PP +Miami NNP B-NP +that WDT B-NP +would MD B-VP +ultimately RB I-VP +indict VB I-VP +the DT B-NP +Panamanian JJ I-NP +on IN B-PP +drug NN B-NP +charges NNS I-NP +. . O + +But CC O +Mr. NNP B-NP +Noriega NNP I-NP +was VBD B-VP +convinced VBN I-VP +the DT B-NP +Reagan NNP I-NP +White NNP I-NP +House NNP I-NP +would MD B-VP +n't RB I-VP +act VB I-VP +against IN B-PP +him PRP B-NP +, , O +recalls VBZ B-VP +his PRP$ B-NP +close NN I-NP +ally NN I-NP +Jose NNP B-NP +Blandon NNP I-NP +, , O +because IN B-SBAR +he PRP B-NP +had VBD B-VP +an DT B-NP +insurance NN I-NP +policy NN I-NP +: : O +his PRP$ B-NP +involvement NN I-NP +with IN B-PP +the DT B-NP +Contra NNP I-NP +rebels NNS I-NP +in IN B-PP +Nicaragua NNP B-NP +. . O + +Mr. NNP B-NP +Blandon NNP I-NP +says VBZ B-VP +the DT B-NP +general JJ I-NP +allowed VBN B-VP +the DT B-NP +Contras NNPS I-NP +to TO B-VP +set VB I-VP +up IN B-PRT +a DT B-NP +secret JJ I-NP +training NN I-NP +center NN I-NP +in IN B-PP +Panama NNP B-NP +. . O + +Mr. NNP B-NP +Noriega NNP I-NP +also RB B-ADVP +conveyed VBD B-VP +intelligence NN B-NP +from IN B-PP +his PRP$ B-NP +spy NN I-NP +operation NN I-NP +inside IN B-PP +the DT B-NP +Nicaraguan JJ I-NP +capital NN I-NP +of IN B-PP +Managua NNP B-NP +. . O + +And CC O +on IN B-PP +at IN B-NP +least JJS I-NP +one CD I-NP +occasion NN I-NP +, , O +in IN B-PP +the DT B-NP +spring NN I-NP +of IN B-PP +1985 CD B-NP +, , O +he PRP B-NP +helped VBD B-VP +arrange VB I-VP +a DT B-NP +sabotage NN I-NP +attack NN I-NP +on IN B-PP +a DT B-NP +Sandinista NNP I-NP +arsenal NN I-NP +in IN B-PP +Nicaragua NNP B-NP +. . O + +Although IN B-SBAR +, , O +his PRP$ B-NP +help NN I-NP +for IN B-PP +the DT B-NP +Contra NNP I-NP +cause NN I-NP +was VBD B-VP +limited JJ I-VP +, , O +it PRP B-NP +was VBD B-VP +enough RB B-ADJP +to TO B-VP +win VB I-VP +him PRP B-NP +important JJ B-NP +protectors NNS I-NP +in IN B-PP +the DT B-NP +Reagan NNP I-NP +administration NN I-NP +, , O +says VBZ B-VP +Sen. NNP B-NP +Patrick NNP I-NP +Leahy NNP I-NP +, , O +a DT B-NP +Vermont NNP I-NP +Democrat NNP I-NP +who WP B-NP +then RB B-ADVP +served VBN B-VP +on IN B-PP +the DT B-NP +Senate NNP I-NP +Intelligence NNP I-NP +Committee NNP I-NP +. . O + +`` `` O +Noriega NNP B-NP +played VBD B-VP +U.S. NNP B-NP +intelligence NN I-NP +agencies NNS I-NP +and CC O +the DT B-NP +U.S. NNP I-NP +government NN I-NP +like IN B-PP +a DT B-NP +violin NN I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +An DT B-NP +incident NN I-NP +in IN B-PP +1984 CD B-NP +suggested VBD B-VP +one CD B-NP +additional JJ I-NP +means NNS I-NP +by IN B-PP +which WDT B-NP +Mr. NNP B-NP +Noriega NNP I-NP +might MD B-VP +have VB I-VP +maintained VBN I-VP +such JJ B-NP +influence NN I-NP +with IN B-PP +Washington NNP B-NP +-- : O +by IN B-PP +compromising VBG B-VP +U.S. NNP B-NP +officials NNS I-NP +. . O + +Curtin NNP B-NP +Windsor NNP I-NP +, , O +then RB B-ADVP +the DT B-NP +ambassador NN I-NP +to TO B-PP +Costa NNP B-NP +Rica NNP I-NP +, , O +recalls VBZ B-VP +being VBG I-VP +invited VBN I-VP +to TO B-PP +Panama NNP B-NP +by IN B-PP +Mr. NNP B-NP +Noriega NNP I-NP +'s POS B-NP +brother NN I-NP +Luis NNP B-NP +Carlos NNP I-NP +for IN B-PP +a DT B-NP +weekend NN I-NP +of IN B-PP +deep JJ B-NP +sea NN I-NP +fishing NN I-NP +and CC O +`` `` O +quiet JJ B-NP +, , I-NP +serious JJ I-NP +conversation NN I-NP +'' '' O +on IN B-PP +the DT B-NP +Aswara NNP I-NP +Peninsula NNP I-NP +. . O + +Mr. NNP B-NP +Windsor NNP I-NP +notified VBD B-VP +Everett NNP B-NP +E. NNP I-NP +Briggs NNP I-NP +, , O +the DT B-NP +U.S. NNP I-NP +ambassador NN I-NP +to TO B-PP +Panama NNP B-NP +, , O +of IN B-PP +the DT B-NP +invitation NN I-NP +. . O + +`` `` O +Briggs NNP B-NP +screamed VBD B-VP +, , O +'' '' O +Mr. NNP B-NP +Windsor NNP I-NP +recalls VBZ B-VP +. . O + +He PRP B-NP +says VBZ B-VP +Mr. NNP B-NP +Briggs NNP I-NP +told VBD B-VP +him PRP B-NP +he PRP B-NP +was VBD B-VP +being VBG I-VP +set VBN I-VP +up IN B-PRT +for IN B-PP +a DT B-NP +`` `` I-NP +honey NN I-NP +trap NN I-NP +, , O +'' '' O +in IN B-PP +which WDT B-NP +Mr. NNP B-NP +Noriega NNP I-NP +would MD B-VP +try VB I-VP +to TO I-VP +involve VB I-VP +him PRP B-NP +in IN B-PP +an DT B-NP +orgy NN I-NP +and CC O +then JJ B-VP +record NN I-VP +the DT B-NP +event NN I-NP +`` `` O +with IN B-PP +sound NN B-NP +and CC I-NP +video NN I-NP +. . O +'' '' O + +Mr. NNP B-NP +Briggs NNP I-NP +, , O +on IN B-PP +vacation NN B-NP +after IN B-PP +resigning VBG B-VP +his PRP$ B-NP +position NN I-NP +at IN B-PP +the DT B-NP +National NNP I-NP +Security NNP I-NP +Council NNP I-NP +, , O +could MD B-VP +n't RB I-VP +be VB I-VP +reached VBN I-VP +for IN B-PP +comment NN B-NP +. . O + +As IN B-SBAR +Mr. NNP B-NP +Noriega NNP I-NP +'s POS B-NP +political JJ I-NP +troubles NNS I-NP +grew VBD B-VP +, , O +so RB B-ADVP +did VBD O +his PRP$ B-NP +offers NNS I-NP +of IN B-PP +assistance NN B-NP +to TO B-PP +the DT B-NP +Contras NNPS I-NP +, , O +an DT B-NP +apparent JJ I-NP +attempt NN I-NP +to TO B-VP +curry VB I-VP +more JJR B-NP +favor NN I-NP +in IN B-PP +Washington NNP B-NP +. . O + +For IN B-PP +instance NN B-NP +, , O +he PRP B-NP +helped VBD B-VP +steal VB I-VP +the DT B-NP +May NNP I-NP +1984 CD I-NP +Panamanian JJ I-NP +elections NNS I-NP +for IN B-PP +the DT B-NP +ruling NN I-NP +party NN I-NP +. . O + +But CC O +just RB B-NP +one CD I-NP +month NN I-NP +later RB B-ADVP +, , O +he PRP B-NP +also RB B-ADVP +contributed VBD B-VP +$ $ B-NP +100,000 CD I-NP +to TO B-PP +a DT B-NP +Contra NNP I-NP +leader NN I-NP +, , O +according VBG B-PP +to TO B-PP +documents NNS B-NP +released VBN B-VP +for IN B-PP +Oliver NNP B-NP +North NNP I-NP +'s POS B-NP +criminal JJ I-NP +trial NN I-NP +in IN B-PP +Washington NNP B-NP +, , O +D.C NNP B-NP +. . O + +Yet RB B-ADVP +, , O +his PRP$ B-NP +political JJ I-NP +setbacks NNS I-NP +mounted VBN B-VP +. . O + +Mr. NNP B-NP +Noriega NNP I-NP +was VBD B-VP +accused VBN I-VP +of IN B-PP +ordering VBG B-VP +in IN B-PP +1985 CD B-NP +the DT B-NP +beheading NN I-NP +of IN B-PP +Hugo NNP B-NP +Spadafora NNP I-NP +, , O +his PRP$ B-NP +most RBS I-NP +outspoken JJ I-NP +political JJ I-NP +opponent NN I-NP +and CC O +the DT B-NP +first JJ I-NP +man NN I-NP +to TO B-VP +publicly RB I-VP +finger NN I-VP +Mr. NNP B-NP +Noriega NNP I-NP +on IN B-PP +drug NN B-NP +trafficking NN I-NP +charges NNS I-NP +. . O + +He PRP B-NP +then RB B-ADVP +ousted VBD B-VP +President NNP B-NP +Nicholas NNP I-NP +Ardito NNP I-NP +Barletta NNP I-NP +, , O +a DT B-NP +former JJ I-NP +World NNP I-NP +Bank NNP I-NP +official NN I-NP +with IN B-PP +close NN B-NP +ties NNS I-NP +to TO B-PP +the DT B-NP +U.S. NNP I-NP +, , O +after IN B-SBAR +Mr. NNP B-NP +Barletta NNP I-NP +tried VBD B-VP +to TO I-VP +create VB I-VP +a DT B-NP +commission NN I-NP +to TO B-VP +investigate VB I-VP +the DT B-NP +murder NN I-NP +. . O + +And CC O +, , O +all PDT B-NP +the DT I-NP +while NN I-NP +, , O +Panama NNP B-NP +'s POS B-NP +debt NN I-NP +problems NNS I-NP +continued VBD B-VP +to TO I-VP +grow VB I-VP +. . O + +Mr. NNP B-NP +Noriega NNP I-NP +was VBD B-VP +growing VBG I-VP +desperate JJ B-ADJP +. . O + +In IN B-PP +late JJ B-NP +1986 CD I-NP +, , O +he PRP B-NP +made VBD B-VP +an DT B-NP +offer NN I-NP +he PRP B-NP +thought VBD B-VP +the DT B-NP +U.S. NNP I-NP +could MD B-VP +n't RB I-VP +refuse VB I-VP +. . O + +As IN B-SBAR +recounted VBN B-VP +in IN B-PP +a DT B-NP +stipulation NN I-NP +that WDT B-NP +summarized VBD B-VP +government NN B-NP +documents NNS I-NP +released VBN B-VP +for IN B-PP +the DT B-NP +North NNP I-NP +trial NN I-NP +, , O +Mr. NNP B-NP +Noriega NNP I-NP +offered VBD B-VP +to TO I-VP +assassinate VB I-VP +the DT B-NP +Sandinista NNP I-NP +leadership NN I-NP +in IN B-PP +exchange NN B-NP +`` `` O +for IN B-PP +a DT B-NP +promise NN I-NP +to TO B-VP +help VB I-VP +clean JJ I-VP +up IN B-PRT +Noriega NNP B-NP +'s POS B-NP +image NN I-NP +and CC O +a DT B-NP +commitment NN I-NP +to TO B-VP +lift VB I-VP +the DT B-NP +-LCB- ( I-NP +U.S. NNP I-NP +. . I-NP +-RCB- ) I-NP +ban NN I-NP +on IN B-PP +military JJ B-NP +sales NNS I-NP +to TO B-PP +the DT B-NP +Panamanian NNP I-NP +Defense NNP I-NP +Forces NNPS I-NP +. . O +'' '' O + +`` `` O +North NNP B-NP +, , O +'' '' O +the DT B-NP +document NN I-NP +went VBD B-VP +on IN B-ADVP +, , O +referring VBG B-VP +to TO B-PP +Oliver NNP B-NP +North NNP I-NP +, , O +`` `` O +has VBZ B-VP +told VBN I-VP +Noriega NNP B-NP +'s POS B-NP +representative NN I-NP +that IN B-SBAR +U.S. NNP B-NP +law NN I-NP +forbade VBD B-VP +such JJ B-NP +actions NNS I-NP +. . O + +The DT B-NP +representative NN I-NP +responded VBD B-VP +that IN B-SBAR +Noriega NNP B-NP +had VBD B-VP +numerous JJ B-NP +assets NNS I-NP +in IN B-PP +place NN B-NP +in IN B-PP +Nicaragua NNP B-NP +and CC O +could MD B-VP +accomplish VB I-VP +many JJ B-NP +essential JJ I-NP +things NNS I-NP +, , O +just RB B-ADVP +as IN B-SBAR +Noriega NNP B-NP +had VBD B-VP +helped VBN I-VP +-LCB- ( O +the DT B-NP +U.S. NNP I-NP +. . O +-RCB- ) O +the DT B-NP +previous JJ I-NP +year NN I-NP +in IN B-PP +blowing VBG B-VP +up IN B-PRT +a DT B-NP +Sandinista NNP I-NP +arsenal NN I-NP +. . O +'' '' O + +Col. NNP B-NP +North NNP I-NP +conveyed VBD B-VP +the DT B-NP +request NN I-NP +to TO B-PP +his PRP$ B-NP +superiors NNS I-NP +and CC B-PP +to TO B-PP +Assistant NNP O +Secretary NNP O +of IN B-PP +State NNP B-NP +Elliot NNP B-NP +Abrams NNP I-NP +, , O +who WP B-NP +relayed VBD B-VP +it PRP B-NP +to TO B-PP +Secretary NNP O +of IN B-PP +State NNP B-NP +George NNP B-NP +Shultz NNP I-NP +. . O + +Mr. NNP B-NP +Noriega NNP I-NP +'s POS B-NP +proposal NN I-NP +was VBD B-VP +turned VBN I-VP +down RB B-PRT +. . O + +And CC O +Mr. NNP B-NP +Shultz NNP I-NP +curtly RB B-VP +told VBD I-VP +Mr. NNP B-NP +Abrams NNP I-NP +that IN B-SBAR +the DT B-NP +general NN I-NP +should MD B-VP +be VB I-VP +told VBN I-VP +that IN B-SBAR +only RB B-NP +he PRP I-NP +could MD B-VP +repair VB I-VP +his PRP$ B-NP +tarnished VBN I-NP +image NN I-NP +. . O + +The DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +marriage NN I-NP +was VBD B-VP +at IN B-PP +hand NN B-NP +. . O + +Within IN B-PP +weeks NNS B-NP +the DT B-NP +unfolding VBG I-NP +Iran-Contra NNP I-NP +scandal NN I-NP +took VBD B-VP +away RB B-ADVP +Mr. NNP B-NP +Noriega NNP I-NP +'s POS B-NP +insurance NN I-NP +policy NN I-NP +. . O + +The DT B-NP +death NN I-NP +of IN B-PP +CIA NNP B-NP +Director NNP I-NP +William NNP B-NP +Casey NNP I-NP +and CC O +resignation NN B-NP +of IN B-PP +Oliver NNP B-NP +North NNP I-NP +allowed VBD B-VP +anti-Noriega JJ B-NP +political JJ I-NP +forces NNS I-NP +to TO B-VP +gain VB I-VP +influence NN B-NP +. . O + +Public JJ B-NP +protests NNS I-NP +against IN B-PP +him PRP B-NP +were VBD B-VP +triggered VBN I-VP +in IN B-PP +June NNP B-NP +1987 CD I-NP +due JJ B-PP +to TO I-PP +charges NNS B-NP +by IN B-PP +Diaz NNP B-NP +Herrera NNP I-NP +, , O +his PRP$ B-NP +former JJ I-NP +chief NN I-NP +of IN B-PP +staff NN B-NP +, , O +that IN B-SBAR +Mr. NNP B-NP +Noriega NNP I-NP +had VBD B-VP +stolen VBN I-VP +the DT B-NP +1984 CD I-NP +election NN I-NP +and CC O +had VBD B-VP +ordered VBN I-VP +the DT B-NP +killing NN I-NP +of IN B-PP +Messrs. NNP B-NP +Spadafora NNP I-NP +and CC I-NP +Torrijos NNP I-NP +. . O + +Few NNP B-NP +American JJ I-NP +officials NNS I-NP +were VBD B-VP +willing JJ I-VP +any RB I-VP +longer RB I-VP +to TO I-VP +defend VB I-VP +him PRP B-NP +. . O + +Lawyers NNS B-NP +in IN B-PP +Miami NNP B-NP +-- : O +this DT B-NP +time NN I-NP +working VBG B-VP +virtually RB B-ADVP +without IN B-PP +impediment NN B-NP +-- : O +prepared VBN B-VP +to TO I-VP +have VB I-VP +him PRP B-NP +indicted VBN B-VP +on IN B-PP +drug NN B-NP +charges NNS I-NP +in IN B-PP +February NNP B-NP +1988 CD I-NP +. . O + +During IN B-PP +negotiations NNS B-NP +with IN B-PP +American JJ B-NP +officials NNS I-NP +in IN B-PP +May NNP B-NP +1988 CD I-NP +over IN B-PP +proposals NNS B-NP +to TO B-VP +drop VB I-VP +the DT B-NP +U.S. NNP I-NP +indictments NNS I-NP +in IN B-PP +exchange NN B-NP +for IN B-PP +his PRP$ B-NP +resignation NN I-NP +, , O +Mr. NNP B-NP +Noriega NNP I-NP +often RB B-ADVP +asked VBD B-VP +almost RB B-ADVP +plaintively RB I-ADVP +how WRB B-ADVP +the DT B-NP +Americans NNPS I-NP +, , O +whom WP B-NP +he PRP B-NP +had VBD B-VP +helped VBN I-VP +for IN B-PP +so RB B-NP +many JJ I-NP +years NNS I-NP +, , O +could MD B-VP +turn VB I-VP +against IN B-PP +him PRP B-NP +. . O + +Now RB B-ADVP +, , O +neither DT B-NP +side NN I-NP +-- : O +the DT B-NP +U.S. NNP I-NP +nor CC O +Mr. NNP B-NP +Noriega NNP I-NP +-- : O +has VBZ B-VP +an DT B-NP +easy JJ I-NP +out RB I-NP +. . O + +President NNP B-NP +Bush NNP I-NP +has VBZ B-VP +sworn VBN I-VP +to TO I-VP +bring VB I-VP +him PRP B-NP +to TO B-PP +justice NN B-NP +. . O + +Mr. NNP B-NP +Noriega NNP I-NP +believes VBZ B-VP +he PRP B-NP +has VBZ B-VP +n't RB O +any DT B-NP +alternative NN I-NP +but CC O +to TO B-VP +continue VB I-VP +clutching VBG I-VP +to TO B-PP +power VB B-NP +. . O + +It PRP B-NP +is VBZ B-VP +a DT B-NP +knock-out JJ I-NP +battle NN I-NP +-- : O +perhaps RB O +to TO B-PP +the DT B-NP +death NN I-NP +. . O + +In IN B-PP +the DT B-NP +end NN I-NP +, , O +is VBZ O +Mr. NNP B-NP +Noriega NNP I-NP +the DT B-NP +political JJ I-NP +equivalent NN I-NP +of IN B-PP +Frankenstein NNP B-NP +'s POS B-NP +monster NN I-NP +, , O +created VBN B-VP +by IN B-PP +a DT B-NP +well-intentioned JJ I-NP +but CC I-NP +misguided JJ I-NP +foreign JJ I-NP +power NN I-NP +? . O + +Not RB B-ADVP +quite RB I-ADVP +, , O +Sen. NNP B-NP +Leahy NNP I-NP +contends VBZ B-VP +. . O + +`` `` O +For IN B-PP +short-term JJ B-NP +gains NNS I-NP +, , O +people NNS B-NP +were VBD B-VP +willing JJ B-ADJP +to TO B-VP +put VB I-VP +up IN B-PRT +with IN B-PP +him PRP B-NP +. . O + +That DT B-NP +allowed VBN B-VP +him PRP B-NP +to TO B-VP +get VB I-VP +stronger JJR B-ADJP +and CC I-ADJP +stronger JJR I-ADJP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +`` `` O +I PRP B-NP +do VBP B-VP +n't RB I-VP +think VB I-VP +we PRP B-NP +created VBD B-VP +him PRP B-NP +as RB B-ADVP +much JJ I-ADVP +as IN B-SBAR +we PRP B-NP +fed VBD B-VP +him PRP B-NP +, , O +nurtured VBD B-VP +him PRP B-NP +and CC O +let VB B-VP +him PRP B-NP +grow VB B-VP +up VB O +to TO B-VP +be VB I-VP +big JJ B-ADJP +and CC I-ADJP +strong JJ I-ADJP +. . O + +UPJOHN NNP B-NP +Co. NNP I-NP +reported VBD B-VP +that IN B-SBAR +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +96 CD I-NP +million CD I-NP +, , O +or CC O +52 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN O +$ $ B-NP +89.6 CD I-NP +million CD I-NP +, , B-PP +or CC I-PP +49 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Yesterday NN B-NP +'s POS B-NP +edition NN I-NP +provided VBD B-VP +analysts NNS B-NP +' POS B-NP +estimates NNS I-NP +for IN B-PP +the DT B-NP +company NN I-NP +when WRB B-ADVP +actual JJ B-NP +earnings NNS I-NP +were VBD B-VP +available JJ B-ADJP +. . O + +Industrial JJ B-NP +production NN I-NP +declined VBD B-VP +0.1 CD B-NP +% NN I-NP +in IN B-PP +September NNP B-NP +, , O +reinforcing VBG B-VP +other JJ B-NP +signs NNS I-NP +that IN B-SBAR +the DT B-NP +manufacturing NN I-NP +sector NN I-NP +continues VBZ B-VP +its PRP$ B-NP +slowing NN I-NP +trend NN I-NP +. . O + +The DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +Board NNP I-NP +said VBD B-VP +output NN B-NP +of IN B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +factories NNS I-NP +, , I-NP +mines NNS I-NP +and CC I-NP +utilities NNS I-NP +expanded VBN B-VP +at IN B-PP +an DT B-NP +annual JJ I-NP +rate NN I-NP +of IN B-PP +1.3 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +, , O +substantially RB B-ADJP +slower JJR I-ADJP +than IN B-PP +the DT B-NP +3.3 CD I-NP +% NN I-NP +annual JJ I-NP +rate NN I-NP +in IN B-PP +the DT B-NP +second JJ I-NP +quarter NN I-NP +. . O + +`` `` O +Capital NNP B-NP +spending NN I-NP +and CC I-NP +exports NNS I-NP +, , O +which WDT B-NP +have VBP B-VP +been VBN I-VP +the DT B-NP +driving VBG I-NP +force NN I-NP +in IN B-PP +this DT B-NP +expansion NN I-NP +, , O +are VBP B-VP +showing VBG I-VP +clear JJ B-NP +signs NNS I-NP +of IN B-PP +having VBG B-VP +the DT B-NP +steam NN I-NP +taken VBN B-VP +out IN B-ADVP +of IN B-PP +them PRP B-NP +, , O +'' '' O +said VBD B-VP +Robert NNP B-NP +Dederick NNP I-NP +, , O +economist NN B-NP +for IN B-PP +Northern NNP B-NP +Trust NNP I-NP +Co. NNP I-NP +in IN B-PP +Chicago NNP B-NP +. . O + +The DT B-NP +new JJ I-NP +reports NNS I-NP +of IN B-PP +sluggishness NN B-NP +, , O +which WDT B-NP +were VBD B-VP +foreshadowed VBN I-VP +by IN B-PP +an DT B-NP +earlier RBR I-NP +Labor NNP I-NP +Department NNP I-NP +report NN I-NP +that IN B-SBAR +manufacturing NN B-NP +payrolls NNS I-NP +dropped VBN B-VP +by IN B-PP +105,000 CD B-NP +in IN B-PP +September NNP B-NP +, , O +give VB B-VP +the DT B-NP +Fed NNP I-NP +another DT B-NP +reason NN I-NP +to TO B-VP +further VB I-VP +ease VB I-VP +its PRP$ B-NP +grip NN I-NP +on IN B-PP +credit NN B-NP +and CC O +lower JJR B-VP +interest NN B-NP +rates NNS I-NP +. . O + +`` `` O +They PRP B-NP +need VBP B-VP +to TO I-VP +do VB I-VP +something NN B-NP +about IN B-PP +this DT B-NP +, , O +'' '' O +said VBD B-VP +Maury NNP B-NP +Harris NNP I-NP +, , O +economist NN B-NP +at IN B-PP +PaineWebber NNP B-NP +Group NNP I-NP +Inc NNP I-NP +. . O + +The DT B-NP +Fed NNP I-NP +also RB B-ADVP +said VBD B-VP +U.S. NNP B-NP +industry NN I-NP +operated VBN B-VP +at IN B-PP +83.6 CD B-NP +% NN I-NP +of IN B-PP +capacity NN B-NP +last JJ B-NP +month NN I-NP +, , O +down RB B-ADVP +from IN B-PP +83.8 CD B-NP +% NN I-NP +in IN B-PP +August NNP B-NP +. . O + +Measures NNS B-NP +of IN B-PP +manufacturing NN B-NP +activity NN I-NP +fell VBD B-VP +more JJR B-ADVP +than IN B-PP +the DT B-NP +overall JJ I-NP +measures NNS I-NP +. . O + +Factory NN B-NP +output NN I-NP +dropped VBD B-VP +0.2 CD B-NP +% NN I-NP +, , O +its PRP$ B-NP +first JJ I-NP +decline NN I-NP +since IN B-PP +February NNP B-NP +, , O +after IN B-SBAR +having VBG B-VP +been VBN I-VP +unchanged JJ B-ADJP +in IN B-PP +October NNP B-NP +. . O + +Factories NNS B-NP +operated VBN B-VP +at IN B-PP +83.7 CD B-NP +% NN I-NP +of IN B-PP +capacity NN B-NP +, , O +the DT B-NP +lowest JJS I-NP +rate NN I-NP +in IN B-PP +more JJR B-NP +than IN I-NP +a DT I-NP +year NN I-NP +and CC O +down RB B-ADVP +from IN B-PP +84.1 CD B-NP +% NN I-NP +in IN B-PP +September NNP B-NP +. . O + +The DT B-NP +declines NNS I-NP +mainly RB B-ADVP +reflected VBD B-VP +widespread JJ B-NP +weakness NN I-NP +in IN B-PP +durable JJ B-NP +goods NNS I-NP +, , O +those DT B-NP +intended VBN B-VP +to TO I-VP +last VB I-VP +more JJR B-NP +than IN I-NP +three CD I-NP +years NNS I-NP +. . O + +The DT B-NP +biggest JJS I-NP +drop NN I-NP +was VBD B-VP +recorded VBN I-VP +by IN B-PP +primary JJ B-NP +metals NNS I-NP +producers NNS I-NP +, , O +a DT B-NP +category NN I-NP +that WDT B-NP +includes VBZ B-VP +the DT B-NP +steel NN I-NP +industry NN I-NP +. . O + +Output NN B-NP +of IN B-PP +business NN B-NP +equipment NN I-NP +was VBD B-VP +unchanged JJ B-ADJP +in IN B-PP +September NNP B-NP +. . O + +Production NN B-NP +of IN B-PP +factory NN B-NP +equipment NN I-NP +, , O +one CD B-NP +indication NN I-NP +of IN B-PP +the DT B-NP +strength NN I-NP +of IN B-PP +manufacturers NNS B-NP +' POS B-NP +investment NN I-NP +spending NN I-NP +, , O +fell VBD B-VP +0.3 CD B-NP +% NN I-NP +. . O + +Some DT B-NP +economists NNS I-NP +expect VBP B-VP +further JJ B-NP +declines NNS I-NP +in IN B-PP +investment NN B-NP +spending NN I-NP +. . O + +`` `` O +Whenever WRB B-ADVP +corporate JJ B-NP +profits NNS I-NP +are VBP B-VP +weak JJ B-ADJP +that WDT B-NP +means VBZ B-VP +capital NN B-NP +spending NN I-NP +is VBZ B-VP +going VBG I-VP +to TO I-VP +soften VB I-VP +subsequently RB B-ADVP +, , O +'' '' O +Mr. NNP B-NP +Harris NNP I-NP +said VBD B-VP +. . O + +`` `` O +You PRP B-NP +have VBP B-VP +n't RB I-VP +seen VBN I-VP +the DT B-NP +full JJ I-NP +effect NN I-NP +of IN B-PP +that DT B-NP +yet RB B-ADVP +. . O +'' '' O + +A DT B-NP +decline NN I-NP +in IN B-PP +truck NN B-NP +production NN I-NP +more JJR B-VP +than IN I-VP +offset VB I-VP +a DT B-NP +sharp JJ I-NP +rise NN I-NP +in IN B-PP +auto NN B-NP +assemblies NNS I-NP +, , O +the DT B-NP +Fed NNP I-NP +noted VBD B-VP +. . O + +Analysts NNS B-NP +do VBP B-VP +n't RB I-VP +expect VB I-VP +the DT B-NP +September NNP I-NP +surge NN I-NP +in IN B-PP +auto NN B-NP +production NN I-NP +to TO B-VP +be VB I-VP +repeated VBN I-VP +in IN B-PP +the DT B-NP +coming VBG I-NP +months NNS I-NP +. . O + +Here RB B-NP +is VBZ B-VP +a DT B-NP +summary NN I-NP +of IN B-PP +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +Board NNP I-NP +'s POS B-NP +report NN I-NP +on IN B-PP +industrial JJ B-NP +production NN I-NP +in IN B-PP +September NNP B-NP +. . O + +The DT B-NP +figures NNS I-NP +are VBP B-VP +seasonally RB I-VP +adjusted VBN I-VP +. . O + +142.3 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +1977 CD I-NP +average JJ I-NP +. . O + +Robin NNP B-NP +Honiss NNP I-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +this DT B-NP +bank NN I-NP +holding VBG I-NP +company NN I-NP +, , O +was VBD B-VP +elected VBN I-VP +to TO B-PP +the DT B-NP +additional JJ I-NP +posts NNS I-NP +of IN B-PP +chairman NN B-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +executive NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +New NNP I-NP +England NNP I-NP +Savings NNP I-NP +Bank NNP I-NP +subsidiary NN I-NP +. . O + +William NNP B-NP +R. NNP I-NP +Attridge NNP I-NP +resigned VBD B-VP +those DT B-NP +posts NNS I-NP +, , O +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +a DT B-NP +seat NN I-NP +on IN B-PP +NESB NNP B-NP +'s POS B-NP +board NN I-NP +. . O + +NESB NNP B-NP +is VBZ B-VP +also RB B-ADVP +the DT B-NP +parent NN I-NP +of IN B-PP +Omnibank NNP B-NP +. . O + +Lung-cancer NN B-NP +mortality NN I-NP +rates NNS I-NP +for IN B-PP +people NNS B-NP +under IN B-PP +45 CD B-NP +years NNS I-NP +of IN B-PP +age NN B-NP +have VBP B-VP +begun VBN I-VP +to TO I-VP +decline VB I-VP +, , O +federal JJ B-NP +researchers NNS I-NP +report VBP B-VP +. . O + +The DT B-NP +drop NN I-NP +is VBZ B-VP +particularly RB B-ADJP +large JJ I-ADJP +for IN B-PP +white JJ B-NP +males NNS I-NP +, , O +although IN B-SBAR +black JJ B-NP +males NNS I-NP +and CC O +white JJ B-NP +and CC I-NP +black JJ I-NP +women NNS I-NP +also RB B-ADVP +show VBP B-VP +lower JJR B-NP +mortality NN I-NP +rates NNS I-NP +. . O + +A DT B-NP +report NN I-NP +in IN B-PP +this DT B-NP +week NN I-NP +'s POS B-NP +issue NN I-NP +of IN B-PP +the DT B-NP +Journal NNP I-NP +of IN B-PP +the DT B-NP +National NNP I-NP +Cancer NNP I-NP +Institute NNP I-NP +also RB B-ADVP +projects VBZ B-VP +that IN B-SBAR +overall JJ B-NP +U.S. NNP I-NP +mortality NN I-NP +rates NNS I-NP +from IN B-PP +lung NN B-NP +cancer NN I-NP +, , O +the DT B-NP +leading VBG I-NP +cause NN I-NP +of IN B-PP +cancer NN B-NP +death NN I-NP +, , O +should MD B-VP +begin VB I-VP +to TO I-VP +drop VB I-VP +in IN B-PP +several JJ B-NP +years NNS I-NP +if IN B-SBAR +cigarette NN B-NP +smoking NN I-NP +continues VBZ B-VP +to TO I-VP +abate VB I-VP +. . O + +The DT B-NP +report NN I-NP +, , O +which WDT B-NP +comes VBZ B-VP +25 CD B-NP +years NNS I-NP +after IN B-SBAR +the DT B-NP +U.S. NNP I-NP +Surgeon NNP I-NP +General NNP I-NP +issued VBD B-VP +a DT B-NP +report NN I-NP +warning NN B-VP +against IN B-PP +the DT B-NP +dangers NNS I-NP +of IN B-PP +smoking NN B-NP +, , O +is VBZ B-VP +the DT B-NP +strongest JJS I-NP +indication NN I-NP +to TO B-PP +date VB B-NP +that IN B-SBAR +the DT B-NP +reduction NN I-NP +in IN B-PP +smoking NN B-NP +is VBZ B-VP +leading VBG I-VP +to TO B-PP +lower JJR B-NP +death NN I-NP +rates NNS I-NP +from IN B-PP +lung NN B-NP +cancer NN I-NP +. . O + +`` `` O +What WP B-NP +this DT B-NP +is VBZ B-VP +saying VBG I-VP +is VBZ B-VP +that IN B-SBAR +the DT B-NP +surgeon NN I-NP +general NN I-NP +'s POS B-NP +message NN I-NP +is VBZ B-VP +having VBG I-VP +an DT B-NP +impact NN I-NP +, , O +'' '' O +said VBD B-VP +Melvyn NNP B-NP +Tockman NNP I-NP +, , O +an DT B-NP +epidemiologist NN I-NP +at IN B-PP +the DT B-NP +Johns NNP I-NP +Hopkins NNP I-NP +School NNP I-NP +of IN B-PP +Hygiene NNP B-NP +and CC O +Public NNP B-NP +Health NNP I-NP +in IN B-PP +Baltimore NNP B-NP +. . O + +The DT B-NP +National NNP I-NP +Cancer NNP I-NP +Institute NNP I-NP +report NN I-NP +compares VBZ B-VP +mortality NN B-NP +rates NNS I-NP +of IN B-PP +two CD B-NP +groups NNS I-NP +of IN B-PP +people NNS B-NP +between IN B-PP +the DT B-NP +ages NNS I-NP +of IN B-PP +35 CD B-NP +and CC I-NP +44 CD I-NP +a DT B-NP +decade NN I-NP +apart RB B-ADJP +. . O + +The DT B-NP +death NN I-NP +rate NN I-NP +from IN B-PP +lung NN B-NP +cancer NN I-NP +of IN B-PP +white JJ B-NP +males NNS I-NP +aged VBN B-VP +35 CD B-NP +to TO B-PP +44 CD B-NP +in IN B-PP +the DT B-NP +mid-1970s NNS I-NP +was VBD B-VP +13.4 CD B-NP +per IN B-PP +100,000 CD B-NP +, , O +but CC O +the DT B-NP +mortality NN I-NP +rate NN I-NP +of IN B-PP +the DT B-NP +same JJ I-NP +age NN I-NP +group NN I-NP +in IN B-PP +the DT B-NP +mid-1980s NNS I-NP +was VBD B-VP +9.6 CD B-NP +, , O +a DT B-NP +decline NN I-NP +of IN B-PP +28.7 CD B-NP +% NN I-NP +. . O + +Measured VBN B-VP +the DT B-NP +same JJ I-NP +way NN I-NP +, , O +the DT B-NP +decline NN I-NP +for IN B-PP +black JJ B-NP +males NNS I-NP +was VBD B-VP +14.2 CD B-NP +% NN I-NP +. . O + +The DT B-NP +drop NN I-NP +in IN B-PP +mortality NN B-NP +rates NNS I-NP +for IN B-PP +women NNS B-NP +was VBD B-VP +less RBR B-ADJP +steep JJ I-ADJP +-- : O +8.9 CD B-NP +% NN I-NP +for IN B-PP +blacks NNS B-NP +and CC O +5.3 CD B-NP +% NN I-NP +for IN B-PP +whites NNS B-NP +. . O + +The DT B-NP +study NN I-NP +, , O +by IN B-PP +Susan NNP B-NP +Devesa NNP I-NP +, , O +William NNP B-NP +Blot NNP I-NP +and CC O +Joseph NNP B-NP +Fraumeni NNP I-NP +of IN B-PP +the DT B-NP +institute NN I-NP +'s POS B-NP +staff NN I-NP +, , O +also RB B-ADVP +shows VBZ B-VP +that IN B-SBAR +the DT B-NP +incidence NN I-NP +of IN B-PP +lung NN B-NP +cancer NN I-NP +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +the DT B-NP +death NN I-NP +rate NN I-NP +declined VBD B-VP +over IN B-PP +the DT B-NP +decade NN I-NP +for IN B-PP +all DT B-NP +groups NNS I-NP +in IN B-PP +the DT B-NP +35-44 JJ I-NP +age NN I-NP +bracket NN I-NP +, , O +except IN B-PP +black JJ B-NP +men NNS I-NP +. . O + +Although IN B-SBAR +lung-cancer NN B-NP +mortality NN I-NP +rates NNS I-NP +are VBP B-VP +increasing VBG I-VP +for IN B-PP +the DT B-NP +nation NN I-NP +as IN B-PP +a DT B-NP +whole NN I-NP +, , O +the DT B-NP +report NN I-NP +projects VBZ B-VP +that IN B-SBAR +death NN B-NP +rates NNS I-NP +will MD B-VP +begin VB I-VP +to TO I-VP +decline VB I-VP +in IN B-PP +the DT B-NP +1990s CD I-NP +for IN B-PP +men NNS B-NP +and CC O +after IN B-PP +the DT B-NP +year NN I-NP +2000 CD I-NP +for IN B-PP +women NNS B-NP +. . O + +Lung-cancer NN B-NP +mortality NN I-NP +rates NNS I-NP +increase VBP B-VP +with IN B-PP +age NN B-NP +and CC O +are VBP B-VP +continuing VBG I-VP +to TO I-VP +rise VB I-VP +for IN B-PP +all DT B-NP +age NN I-NP +groups NNS I-NP +over IN B-PP +55 NN B-NP +, , O +with IN B-PP +sharp JJ B-NP +increases NNS I-NP +for IN B-PP +everybody NN B-NP +but CC O +white JJ B-NP +men NNS I-NP +. . O + +But CC O +Dr. NNP B-NP +Fraumeni NNP I-NP +, , O +one CD B-NP +of IN B-PP +the DT B-NP +authors NNS I-NP +of IN B-PP +the DT B-NP +report NN I-NP +, , O +said VBD B-VP +`` `` O +the DT B-NP +declining VBG I-NP +rates NNS I-NP +we PRP B-NP +'re VBP B-VP +seeing VBG I-VP +for IN B-PP +younger JJR B-NP +people NNS I-NP +we PRP B-NP +believe VBP B-VP +may MD I-VP +be VB I-VP +a DT B-NP +harbinger NN I-NP +of IN B-PP +declining VBG B-NP +mortality NN I-NP +in IN B-PP +the DT B-NP +future NN I-NP +. . O +'' '' O + +However RB B-ADVP +, , O +he PRP B-NP +stressed VBD B-VP +that IN B-SBAR +the DT B-NP +improvement NN I-NP +depends VBZ B-VP +on IN B-PP +a DT B-NP +continued VBN I-NP +reduction NN I-NP +in IN B-PP +smoking NN B-NP +. . O + +`` `` O +Even RB B-ADVP +though IN B-SBAR +these DT B-NP +favorable JJ I-NP +trends NNS I-NP +in IN B-PP +lung-cancer NN B-NP +mortality NN I-NP +affect NN B-VP +all DT B-NP +sex NN I-NP +and CC I-NP +race NN I-NP +groups NNS I-NP +, , O +they PRP B-NP +ca MD B-VP +n't RB I-VP +be VB I-VP +taken VBN I-VP +for IN B-PP +granted VBN B-ADJP +, , O +'' '' O +the DT B-NP +report NN I-NP +says NNS B-VP +. . O + +`` `` O +Smoking NNP B-NP +prevention NN I-NP +programs NNS I-NP +should MD B-VP +reach VB I-VP +larger JJR B-NP +segments NNS I-NP +of IN B-PP +the DT B-NP +population NN I-NP +, , O +especially RB B-NP +children NNS I-NP +, , I-NP +adolescents NNS I-NP +and CC I-NP +minorities NNS I-NP +. . O +'' '' O + +An DT B-NP +editorial NN I-NP +in IN B-PP +the DT B-NP +NCI NNP I-NP +Journal NNP I-NP +says VBZ B-VP +the DT B-NP +report NN I-NP +of IN B-PP +declining VBG B-NP +lung-cancer NN I-NP +mortality NN I-NP +`` `` O +among IN B-PP +young JJ B-NP +men NNS I-NP +and CC I-NP +women NNS I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +indicates VBZ B-VP +that IN B-SBAR +we PRP B-NP +finally RB B-ADVP +may MD B-VP +be VB I-VP +winning VBG I-VP +the DT B-NP +battle NN I-NP +-- : O +this DT B-NP +even RB B-ADVP +in IN B-PP +a DT B-NP +country NN I-NP +where WRB B-ADVP +the DT B-NP +tobacco NN I-NP +industry NN I-NP +spends VBZ B-VP +over IN B-NP +$ $ I-NP +2 CD I-NP +billion CD I-NP +a DT B-NP +year NN I-NP +for IN B-PP +promotion NN B-NP +of IN B-PP +the DT B-NP +addictive JJ I-NP +habit NN I-NP +of IN B-PP +smoking NN B-NP +. . O +'' '' O + +But CC O +the DT B-NP +editorial NN I-NP +, , O +by IN B-PP +Jan NNP B-NP +Stjernsward NNP I-NP +of IN B-PP +the DT B-NP +World NNP I-NP +Health NNP I-NP +Organization NNP I-NP +, , O +notes VBZ B-VP +that DT B-SBAR +tobacco NN B-NP +consumption NN I-NP +and CC I-NP +lung-cancer NN I-NP +mortality NN I-NP +rates NNS I-NP +are VBP B-VP +rising VBG I-VP +in IN B-PP +developing VBG B-NP +countries NNS I-NP +. . O + +`` `` O +Non-smoking NN B-NP +should MD B-VP +be VB I-VP +established VBN I-VP +as IN B-PP +the DT B-NP +norm NN I-NP +of IN B-PP +social JJ B-NP +behavior NN I-NP +'' '' O +around IN B-PP +the DT B-NP +world NN I-NP +, , O +the DT B-NP +editorial NN I-NP +says VBZ B-VP +, , O +through IN B-PP +the DT B-NP +enactment NN I-NP +of IN B-PP +laws NNS B-NP +that WDT B-NP +limit VBP B-VP +advertising VBG B-NP +, , O +boost VB B-VP +tobacco NN B-NP +prices NNS I-NP +and CC O +promote VB B-VP +anti-smoking JJ B-NP +education NN I-NP +. . O + +Asked VBN B-VP +for IN B-PP +comment NN B-NP +, , O +Walker NNP B-NP +Merryman NNP I-NP +, , O +a DT B-NP +vice NN I-NP +president NN I-NP +of IN B-PP +the DT B-NP +Tobacco NNP I-NP +Institute NNP I-NP +, , O +said VBD B-VP +new JJ B-NP +efforts NNS I-NP +to TO B-VP +restrict VB I-VP +tobacco NN B-NP +advertising NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +could MD B-VP +violate VB I-VP +the DT B-NP +First NNP I-NP +Amendment NNP I-NP +protection NN I-NP +of IN B-PP +free JJ B-NP +speech NN I-NP +. . O + +According VBG B-PP +to TO B-PP +the DT B-NP +American NNP I-NP +Cancer NNP I-NP +Society NNP I-NP +, , O +smoking NN B-NP +is VBZ B-VP +responsible JJ B-ADJP +for IN B-PP +85 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +lung-cancer NN I-NP +cases NNS I-NP +among IN B-PP +men NNS B-NP +and CC O +75 CD B-NP +% NN I-NP +among IN B-PP +women NNS B-NP +. . O + +The DT B-NP +NCI NNP I-NP +report NN I-NP +attributes VBZ B-VP +the DT B-NP +differences NNS I-NP +in IN B-PP +mortality NN B-NP +rates NNS I-NP +by IN B-PP +race NN B-NP +to TO B-PP +different JJ B-NP +smoking NN I-NP +patterns NNS I-NP +. . O + +A DT B-NP +higher JJR I-NP +proportion NN I-NP +of IN B-PP +black JJ B-NP +men NNS I-NP +smoke VBP B-VP +than IN B-PP +white JJ B-NP +men NNS I-NP +. . O + +While IN B-SBAR +nearly RB B-NP +equal JJ I-NP +percentages NNS I-NP +of IN B-PP +black JJ B-NP +and CC I-NP +white JJ I-NP +women NNS I-NP +currently JJ B-ADVP +smoke NN B-VP +, , O +in IN B-PP +both DT B-NP +sexes NNS I-NP +more JJR B-NP +whites NNS I-NP +have VBP B-VP +given VBN I-VP +up IN B-PRT +smoking NN B-NP +than IN B-PP +blacks NNS B-NP +. . O + +In IN B-PP +comparing VBG B-VP +changes NNS B-NP +in IN B-PP +mortality NN B-NP +rates NNS I-NP +over IN B-PP +the DT B-NP +past JJ I-NP +decade NN I-NP +, , O +the DT B-NP +NCI NNP I-NP +study NN I-NP +looked VBD B-VP +only RB B-ADVP +at IN B-PP +blacks NNS B-NP +and CC I-NP +whites NNS I-NP +. . O + +Asians NNS B-NP +and CC O +native JJ B-NP +Americans NNPS I-NP +were VBD B-VP +n't RB I-VP +studied VBN I-VP +; : O +Hispanics NNPS B-NP +were VBD B-VP +included VBN I-VP +with IN B-PP +whites NNS B-NP +. . O + +Recent JJ B-NP +changes NNS I-NP +in IN B-PP +average JJ B-NP +annual JJ I-NP +age-specific JJ I-NP +lung-cancer NN I-NP +rates NNS I-NP +per IN B-PP +100,000 CD B-NP +population NN I-NP +by IN B-PP +race NN B-NP +and CC I-NP +sex NN I-NP +. . O + +White NNP B-NP +Males NNPS I-NP + +White NNP B-NP +Females NNPS I-NP + +Black NNP B-NP +Males NNPS I-NP + +Black NNP B-NP +Females NNPS I-NP + +Directors NNS B-NP +elected VBD B-VP +R. NNP B-NP +Marvin NNP I-NP +Womack NNP I-NP +, , O +currently JJ B-ADVP +vice NN B-NP +president\/product NN I-NP +supply NN I-NP +, , I-NP +purchasing VBG I-NP +, , O +to TO B-VP +head VB I-VP +the DT B-NP +company NN I-NP +'s POS B-NP +Washington NNP I-NP +, , I-NP +D.C. NNP I-NP +, , I-NP +office NN I-NP +. . O + +As IN B-PP +vice NN B-NP +president\/national-government NN I-NP +relations NNS I-NP +, , O +Mr. NNP B-NP +Womack NNP I-NP +will MD B-VP +work VB I-VP +with IN B-PP +P&G NNP B-NP +'s POS B-NP +top JJ I-NP +management NN I-NP +and CC B-PP +with IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +government-relations NNS I-NP +staff VBP I-NP +`` `` O +to TO B-VP +represent VB I-VP +P&G NNP B-NP +'s POS B-NP +interests NNS I-NP +at IN B-PP +the DT B-NP +federal JJ I-NP +level NN I-NP +, , O +'' '' O +said VBD B-VP +John NNP B-NP +G. NNP I-NP +Smale NNP I-NP +, , O +chairman NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +. . O + +Mr. NNP B-NP +Smale NNP I-NP +said VBD B-VP +the DT B-NP +appointment NN I-NP +`` `` O +recognizes VBZ B-VP +the DT B-NP +growing VBG I-NP +influence NN I-NP +of IN B-PP +government NN B-NP +on IN B-PP +our PRP$ B-NP +business NN I-NP +. . O +'' '' O + +Mr. NNP B-NP +Womack NNP I-NP +, , O +53 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +has VBZ B-VP +been VBN I-VP +with IN B-PP +the DT B-NP +big JJ I-NP +producer NN I-NP +of IN B-PP +household NN B-NP +products NNS I-NP +, , O +food NN B-NP +and CC O +pharmaceuticals NNS B-NP +for IN B-PP +30 CD B-NP +years NNS I-NP +. . O + +Traders NNS B-NP +trying VBG B-VP +to TO I-VP +profit VB I-VP +from IN B-PP +the DT B-NP +recent JJ I-NP +volatility NN I-NP +in IN B-PP +financial JJ B-NP +markets NNS I-NP +invaded VBD B-VP +the DT B-NP +Nasdaq NNP I-NP +over-the-counter JJ I-NP +market NN I-NP +, , O +prompting VBG B-VP +even RB B-NP +more JJR I-NP +swings NNS I-NP +in IN B-PP +stock NN B-NP +prices NNS I-NP +. . O + +After IN B-PP +gaining VBG B-VP +strength NN B-NP +during IN B-PP +a DT B-NP +brief JJ I-NP +run-up NN I-NP +when WRB B-ADVP +trading NN B-NP +began VBD B-VP +, , O +the DT B-NP +Nasdaq NNP I-NP +Composite NNP I-NP +Index NNP I-NP +weakened VBD B-VP +under IN B-PP +selling VBG B-NP +pressure NN I-NP +. . O + +The DT B-NP +forces NNS I-NP +at IN B-PP +work NN B-NP +included VBD B-VP +computer-guided JJ B-NP +trading NN I-NP +, , O +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +profit-driven CD B-NP +market NN I-NP +makers NNS I-NP +and CC O +institutional JJ B-NP +investors NNS I-NP +who WP B-NP +had VBD B-VP +bought VBN I-VP +stock NN B-NP +on IN B-PP +the DT B-NP +cheap NN I-NP +during IN B-PP +the DT B-NP +recent JJ I-NP +correction NN I-NP +. . O + +During IN B-PP +the DT B-NP +last JJ I-NP +two CD I-NP +hours NNS I-NP +of IN B-PP +trading NN B-NP +, , O +the DT B-NP +composite JJ I-NP +almost RB B-VP +drew VBD I-VP +even RB B-ADVP +on IN B-PP +the DT B-NP +day NN I-NP +before IN B-PP +slipping VBG B-VP +again RB B-ADVP +. . O + +The DT B-NP +Nasdaq NNP I-NP +Composite NNP I-NP +closed VBD B-VP +down RB B-ADVP +1.05 CD B-NP +, , O +or CC O +0.2 CD B-NP +% NN I-NP +, , O +to TO B-PP +459.93 CD B-NP +. . O + +The DT B-NP +action NN I-NP +was VBD B-VP +confined VBN I-VP +to TO B-PP +Nasdaq NNP B-NP +'s POS B-NP +biggest JJS B-ADJP +and CC O +most RBS B-ADJP +liquid JJ I-ADJP +stocks NNS B-NP +, , O +traders NNS B-NP +said VBD B-VP +. . O + +The DT B-NP +Nasdaq NNP I-NP +100 CD I-NP +Index NNP I-NP +began VBD B-VP +the DT B-NP +day NN I-NP +at IN B-PP +449.89 CD B-NP +, , O +lost VBD B-VP +2 CD B-NP +% NN I-NP +at IN B-PP +one CD B-NP +point NN I-NP +, , O +and CC O +was VBD B-VP +up IN B-ADVP +0.4 CD B-NP +% NN I-NP +at IN B-PP +another DT B-NP +. . O + +The DT B-NP +barometer NN I-NP +of IN B-PP +the DT B-NP +biggest JJS I-NP +nonfinancial JJ I-NP +stocks NNS I-NP +settled VBD B-VP +at IN B-PP +448.49 CD B-NP +, , O +off IN B-ADVP +1.40 CD B-NP +. . O + +Its PRP$ B-NP +counterpart NN I-NP +, , O +the DT B-NP +Nasdaq NNP I-NP +Financial NNP I-NP +Index NNP I-NP +, , O +was VBD B-VP +weak JJ B-ADJP +for IN B-PP +most RBS B-NP +of IN B-PP +the DT B-NP +day NN I-NP +, , O +sliding VBG B-VP +2.51 CD B-NP +to TO B-PP +453.57 CD B-NP +by IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +trading NN B-NP +. . O + +The DT B-NP +volatility NN I-NP +was VBD B-VP +dizzying JJ B-ADJP +for IN B-PP +traders NNS B-NP +. . O + +`` `` O +The DT B-NP +market NN I-NP +must MD B-VP +have VB I-VP +turned VBN I-VP +up IN B-ADVP +and CC I-ADVP +down RB I-ADVP +15 CD B-NP +different JJ I-NP +times NNS I-NP +, , O +'' '' O +commented VBD B-VP +Lance NNP B-NP +Zipper NNP I-NP +, , O +head NN B-NP +of IN B-PP +OTC NNP B-NP +trading NN I-NP +at IN B-PP +Kidder NNP B-NP +Peabody NNP I-NP +. . O + +`` `` O +Every DT B-NP +time NN I-NP +you PRP B-NP +thought VBD B-VP +it PRP B-NP +was VBD B-VP +going VBG I-VP +into IN B-PP +a DT B-NP +rally NN I-NP +it PRP B-NP +gave VBD B-VP +up IN B-PRT +, , O +and CC O +every DT B-NP +time NN I-NP +you PRP B-NP +thought VBD B-VP +it PRP B-NP +would MD B-VP +rally VB I-VP +it PRP B-NP +came VBD B-VP +down RB B-ADVP +. . O + +This DT B-NP +is VBZ B-VP +a DT B-NP +tough JJ I-NP +market NN I-NP +. . O +'' '' O + +Mr. NNP B-NP +Zipper NNP I-NP +said VBD B-VP +the DT B-NP +market NN I-NP +is VBZ B-VP +still RB I-VP +settling VBG I-VP +down RB B-PRT +after IN B-PP +the DT B-NP +recent JJ I-NP +correction NN I-NP +. . O + +Most JJS B-NP +of IN B-PP +trading NN B-NP +action NN I-NP +now RB B-ADVP +is VBZ B-VP +from IN B-PP +professional JJ B-NP +traders NNS I-NP +who WP B-NP +are VBP B-VP +trying VBG I-VP +to TO I-VP +take VB I-VP +advantage NN B-NP +of IN B-PP +the DT B-NP +price NN I-NP +swings NNS I-NP +to TO B-VP +turn VB I-VP +a DT B-NP +quick JJ I-NP +profit NN I-NP +, , O +he PRP B-NP +and CC O +other JJ B-NP +traders NNS I-NP +said VBD B-VP +. . O + +`` `` O +Everybody NN B-NP +'s POS B-VP +confused VBN B-ADJP +and CC O +no DT B-NP +one CD I-NP +has VBZ B-VP +an DT B-NP +opinion NN I-NP +that WDT B-NP +lasts VBZ B-VP +longer RB B-ADVP +than IN B-PP +30 CD B-NP +seconds NNS I-NP +, , O +'' '' O +said VBD B-VP +Mr. NNP B-NP +Zipper NNP I-NP +. . O + +`` `` O +A DT B-NP +lot NN I-NP +of IN B-PP +the DT B-NP +professional JJ I-NP +traders NNS I-NP +are VBP B-VP +just RB I-VP +going VBG I-VP +back RB B-ADVP +and CC I-ADVP +forth RB I-ADVP +. . O + +They PRP B-NP +'re VBP B-VP +just RB B-ADJP +as IN I-ADJP +confused VBN I-ADJP +. . O +'' '' O + +William NNP B-NP +Rothe NNP I-NP +, , O +head NN B-NP +of IN B-PP +OTC NNP B-NP +trading NN I-NP +at IN B-PP +Alex NNP B-NP +. . I-NP +Brown NNP I-NP +& CC I-NP +Sons NNP I-NP +, , O +in IN B-PP +Baltimore NNP B-NP +, , O +said VBD B-VP +program NN B-NP +trading NN I-NP +is VBZ B-VP +keeping VBG I-VP +the DT B-NP +markets NNS I-NP +unsettled JJ B-ADJP +. . O + +He PRP B-NP +believes VBZ B-VP +that IN B-SBAR +the DT B-NP +volatile JJ I-NP +conditions NNS I-NP +created VBN B-VP +by IN B-PP +program NN B-NP +trading NN I-NP +has VBZ B-VP +`` `` O +thoroughly RB B-VP +confused VBN I-VP +'' '' O +investors NNS B-NP +about IN B-PP +where WRB B-ADVP +the DT B-NP +market NN I-NP +is VBZ B-VP +headed VBN I-VP +. . O + +Program NN B-NP +trading NN I-NP +is VBZ B-VP +`` `` O +benefiting VBG B-VP +a DT B-NP +few JJ I-NP +to TO B-PP +the DT B-NP +detriment NN I-NP +of IN B-PP +many JJ B-NP +and CC O +I PRP B-NP +wish VBP B-VP +someone NN B-NP +would MD B-VP +do VB I-VP +something NN B-NP +about IN B-PP +it PRP B-NP +, , O +'' '' O +he PRP B-NP +complained VBD B-VP +. . O + +Trading NN B-NP +activity NN I-NP +cooled VBN B-VP +off IN B-PRT +from IN B-PP +Monday NNP B-NP +'s POS B-NP +sizzling JJ I-NP +pace NN I-NP +. . O + +Share NN B-NP +turnover NN I-NP +subsided VBD B-VP +to TO B-PP +161.5 CD B-NP +million CD I-NP +. . O + +Advancing VBG B-NP +and CC I-NP +declining VBG I-NP +issues NNS I-NP +finished VBD B-VP +about IN B-ADJP +even RB I-ADJP +. . O + +Of IN B-PP +the DT B-NP +4,345 CD I-NP +stocks NNS I-NP +that WDT B-NP +changed VBD B-VP +hands NNS B-NP +, , O +1,174 CD B-NP +declined VBD B-VP +and CC O +1,040 CD B-NP +advanced VBD B-VP +. . O + +One CD B-NP +big JJ I-NP +technology NN I-NP +issue NN I-NP +, , O +Novell NNP B-NP +, , O +rode VBD B-VP +the DT B-NP +roller NN I-NP +coaster NN I-NP +. . O + +The DT B-NP +stock NN I-NP +, , O +which WDT B-NP +finished VBD B-VP +Monday NNP B-NP +at IN B-PP +29 CD B-NP +1\/2 CD I-NP +, , O +traded VBD B-VP +as RB B-ADVP +high JJ I-ADVP +as IN B-PP +29 CD B-NP +3\/4 CD I-NP +and CC B-ADVP +as RB B-ADVP +low JJ I-ADVP +as IN B-PP +28 CD B-NP +3\/4 CD I-NP +before IN B-PP +closing VBG B-VP +at IN B-PP +29 CD B-NP +1\/4 CD I-NP +, , O +down RB B-ADVP +1\/4 CD B-NP +. . O + +It PRP B-NP +was VBD B-VP +a DT B-NP +jarring VBG I-NP +day NN I-NP +for IN B-PP +investors NNS B-NP +in IN B-PP +Genetics NNP B-NP +Institute NNP I-NP +. . O + +The DT B-NP +stock NN I-NP +tumbled VBD B-VP +2 CD B-NP +3\/4 CD I-NP +on IN B-PP +news NN B-NP +that IN B-SBAR +it PRP B-NP +might MD B-VP +have VB I-VP +to TO I-VP +take VB I-VP +a DT B-NP +charge NN I-NP +against IN B-PP +earnings NNS B-NP +if IN B-SBAR +it PRP B-NP +ca MD B-VP +n't RB I-VP +successfully RB I-VP +resolve VB I-VP +a DT B-NP +dispute NN I-NP +with IN B-PP +its PRP$ B-NP +European JJ I-NP +licensee NN I-NP +, , O +Boehringer NNP B-NP +Mannheim NNP I-NP +, , O +over IN B-PP +its PRP$ B-NP +anti-anemia NN I-NP +drug NN I-NP +, , O +EPO NNP B-NP +. . O + +The DT B-NP +stock NN I-NP +recovered VBD B-VP +somewhat RB I-VP +to TO I-VP +finish VB I-VP +1 CD B-NP +1\/4 CD I-NP +lower JJR B-ADVP +at IN B-PP +26 CD B-NP +1\/4 CD I-NP +. . O + +In IN B-PP +a DT B-NP +statement NN I-NP +, , O +Genetics NNP B-NP +Institute NNP I-NP +said VBD B-VP +the DT B-NP +dispute NN I-NP +with IN B-PP +Boehringer NNP B-NP +centers NNS B-VP +on IN B-PP +questions NNS B-NP +of IN B-PP +the DT B-NP +usability NN I-NP +of IN B-PP +certain JJ B-NP +batches NNS I-NP +of IN B-PP +EPO NNP B-NP +material NN I-NP +valued VBN B-VP +at IN B-PP +$ $ B-NP +13.6 CD I-NP +million CD I-NP +. . O + +Earlier RBR B-ADVP +this DT B-NP +week NN I-NP +, , O +Genetics NNP B-NP +Institute NNP I-NP +reported VBD B-VP +wider JJR B-NP +losses NNS I-NP +in IN B-PP +its PRP$ B-NP +fiscal JJ I-NP +third JJ I-NP +quarter NN I-NP +ended VBN B-VP +Aug. NNP B-NP +31 CD I-NP +. . O + +Price NNP B-NP +Co. NNP I-NP +jumped VBD B-VP +2 CD B-NP +1\/4 CD I-NP +to TO B-PP +44 CD B-NP +on IN B-PP +1.7 CD B-NP +million CD I-NP +shares NNS I-NP +. . O + +The DT B-NP +wholesaler NN I-NP +of IN B-PP +cash NN B-NP +and CC I-NP +carry VB I-NP +merchandise NN I-NP +reported VBD B-VP +fiscal JJ B-NP +fourthquarter NN I-NP +earnings NNS I-NP +that WDT B-NP +were VBD B-VP +better JJR B-ADJP +than IN B-SBAR +analysts NNS B-NP +had VBD B-VP +expected VBN I-VP +. . O + +The DT B-NP +company NN I-NP +also RB B-ADVP +pleased VBD B-VP +analysts NNS B-NP +by IN B-PP +announcing VBG B-VP +four CD B-NP +new JJ I-NP +store NN I-NP +openings NNS I-NP +planned VBN B-VP +for IN B-PP +fiscal JJ B-NP +1990 CD I-NP +, , O +ending VBG B-VP +next JJ B-NP +August NNP I-NP +. . O + +That DT B-NP +will MD B-VP +bring VB I-VP +the DT B-NP +total NN I-NP +for IN B-PP +the DT B-NP +year NN I-NP +to TO B-PP +10 CD B-NP +, , O +from IN B-PP +five CD B-NP +during IN B-PP +fiscal JJ B-NP +1989 CD I-NP +. . O + +`` `` O +Every DT B-NP +year NN I-NP +we PRP B-NP +'ve VBP B-VP +been VBN I-VP +waiting VBG I-VP +for IN B-PP +stepped-up JJ B-NP +expansion NN I-NP +from IN B-PP +the DT B-NP +company NN I-NP +. . O + +The DT B-NP +news NN I-NP +could MD B-VP +n't RB I-VP +have VB I-VP +been VBN I-VP +better JJR B-ADJP +, , O +'' '' O +said VBD B-VP +Linda NNP B-NP +Kristiansen NNP I-NP +, , O +a DT B-NP +Dean NNP I-NP +Witter NNP I-NP +Reynolds NNP I-NP +analyst NN I-NP +, , O +in IN B-PP +an DT B-NP +interview NN I-NP +. . O + +Intermec NNP B-NP +, , O +a DT B-NP +maker NN I-NP +of IN B-PP +optical JJ B-NP +character-recognition NN I-NP +devices NNS I-NP +, , O +also RB B-ADVP +reported VBD B-VP +higher JJR B-NP +third-quarter JJ I-NP +earnings NNS I-NP +. . O + +Its PRP$ B-NP +shares NNS I-NP +added VBD B-VP +3\/4 CD B-NP +to TO B-PP +30 CD B-NP +3\/4 CD I-NP +. . O + +But CC O +favorable JJ B-NP +earnings NNS I-NP +was VBD B-VP +n't RB O +a DT B-NP +guarantee NN I-NP +that IN B-SBAR +a DT B-NP +stock NN I-NP +'s POS B-NP +price NN I-NP +would MD B-VP +improve VB I-VP +yesterday NN B-NP +. . O + +MCI NNP B-NP +Communications NNPS I-NP +tumbled VBD B-VP +2 CD B-NP +5\/8 CD I-NP +to TO B-PP +42 CD B-NP +3\/8 CD I-NP +on IN B-PP +4.7 CD B-NP +million CD I-NP +shares NNS I-NP +even RB B-ADVP +though IN B-SBAR +the DT B-NP +telecommunications NNS I-NP +giant NN I-NP +reported VBD B-VP +a DT B-NP +63 CD I-NP +% NN I-NP +increase NN I-NP +in IN B-PP +third-quarter JJ B-NP +profit NN I-NP +. . O + +CoreStates NNP B-NP +Financial NNP I-NP +slipped VBD B-VP +3\/8 CD B-NP +to TO B-PP +43 CD B-NP +1\/8 CD I-NP +in IN B-PP +active JJ B-NP +trading NN I-NP +after IN B-PP +reporting VBG B-VP +that IN B-SBAR +third-quarter JJ B-NP +earnings NNS I-NP +improved VBN B-VP +to TO B-PP +$ $ B-NP +1.27 CD I-NP +a DT B-NP +share NN I-NP +from IN B-PP +$ $ B-NP +1.15 CD I-NP +a DT B-NP +share NN I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +However RB B-ADVP +, , O +the DT B-NP +bank NN I-NP +holding VBG I-NP +company NN I-NP +'s POS B-NP +loan-loss NN I-NP +reserves NNS I-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +177.3 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +154 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +A&W NNP B-NP +Brands NNP I-NP +lost VBD B-VP +1\/4 CD B-NP +to TO B-PP +27 CD B-NP +. . O + +But CC O +its PRP$ B-NP +thirdquarter JJ I-NP +earnings NNS I-NP +rose VBD B-VP +to TO B-PP +26 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +from IN B-PP +18 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +last JJ B-NP +year NN I-NP +. . O + +Capital NNP B-NP +Associates NNPS I-NP +dropped VBD B-VP +1 CD B-NP +to TO B-PP +5 VB B-NP +3\/8 CD I-NP +. . O + +The DT B-NP +company NN I-NP +, , O +which WDT B-NP +leases VBZ B-VP +technology NN B-NP +equipment NN I-NP +, , O +reported VBD B-VP +substantially RB B-NP +lower JJR I-NP +net JJ I-NP +income NN I-NP +for IN B-PP +its PRP$ B-NP +fiscal JJ I-NP +first JJ I-NP +quarter NN I-NP +, , O +which WDT B-NP +ended VBN B-VP +Aug. NNP B-NP +31 CD I-NP +. . O + +Robert NNP B-NP +M. NNP I-NP +Jelenic NNP I-NP +, , O +39 CD B-NP +, , O +was VBD B-VP +named VBN I-VP +president NN B-NP +and CC O +chief JJ B-NP +operating VBG I-NP +officer NN I-NP +of IN B-PP +this DT B-NP +closely RB I-NP +held VBN I-NP +publisher NN I-NP +. . O + +The DT B-NP +post NN I-NP +had VBD B-VP +been VBN I-VP +vacant JJ B-ADJP +for IN B-PP +more JJR B-NP +than IN I-NP +a DT I-NP +year NN I-NP +. . O + +Mr. NNP B-NP +Jelenic NNP I-NP +had VBD B-VP +been VBN I-VP +executive JJ B-NP +vice NN I-NP +president NN I-NP +for IN B-PP +operations NNS B-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +Ralph NNP B-NP +Ingersoll NNP I-NP +II NNP I-NP +, , O +43 CD B-NP +, , O +chairman NN B-NP +and CC O +chief JJ B-NP +executive NN I-NP +, , O +said VBD B-VP +he PRP B-NP +would MD B-VP +take VB I-VP +on IN B-PRT +additional JJ B-NP +responsibilities NNS I-NP +as IN B-PP +editor NN B-NP +in IN B-PP +chief NN B-NP +of IN B-PP +the DT B-NP +company NN I-NP +. . O + +John NNP B-NP +Wilpers NNP I-NP +resigned VBD B-VP +as IN B-PP +editor NN B-NP +in IN B-PP +chief NN B-NP +. . O + +Mr. NNP B-NP +Ingersoll NNP I-NP +remains VBZ B-VP +editor NN B-NP +in IN B-PP +chief NN B-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +recently RB B-ADJP +launched VBN I-ADJP +daily JJ B-NP +, , O +the DT B-NP +St. NNP I-NP +Louis NNP I-NP +Sun NNP I-NP +. . O + +Also RB B-ADVP +, , O +Jean NNP B-NP +B. NNP I-NP +Clifton NNP I-NP +, , O +28 CD B-NP +, , O +was VBD B-VP +named VBN I-VP +executive JJ B-NP +vice NN I-NP +president NN I-NP +, , O +treasurer NN B-NP +and CC O +chief JJ B-NP +financial JJ I-NP +officer NN I-NP +. . O + +Michael NNP B-NP +Applebaum NNP I-NP +resigned VBD B-VP +after IN B-PP +less JJR B-NP +than IN I-NP +a DT I-NP +year NN I-NP +in IN B-PP +the DT B-NP +posts NNS I-NP +. . O + +Ms. NNP B-NP +Clifton NNP I-NP +had VBD B-VP +been VBN I-VP +executive NN B-NP +financial JJ I-NP +assistant NN I-NP +to TO B-PP +the DT B-NP +chairman NN I-NP +. . O + +Certainly RB B-ADVP +conservative JJ B-NP +environmentalists NNS I-NP +can MD B-VP +defend VB I-VP +their PRP$ B-NP +limited JJ I-NP +government NN I-NP +position NN I-NP +by IN B-PP +differentiating VBG B-VP +between IN B-PP +Old NNP B-NP +Environmentalism NNP I-NP +and CC O +New NNP B-NP +Environmentalism NNP I-NP +-LRB- ( O +`` `` O +Journalists NNS B-NP +and CC I-NP +Others NNS I-NP +for IN B-PP +Saving VBG B-VP +the DT B-NP +Planet NNP I-NP +, , O +'' '' O +by IN B-PP +David NNP B-NP +Brooks NNP I-NP +, , O +editorial NN B-NP +page NN I-NP +, , O +Oct. NNP B-NP +5 NN I-NP +-RRB- ) O +. . O + +Old NNP B-NP +Environmentalism NNP I-NP +involved VBD B-VP +microbe NN B-NP +hunters NNS I-NP +and CC O +sanitationists NNS B-NP +. . O + +It PRP B-NP +started VBD B-VP +with IN B-PP +improvements NNS B-NP +in IN B-PP +hygiene NN B-NP +made VBD B-VP +possible JJ B-ADJP +by IN B-PP +affordable JJ B-NP +soap NN I-NP +and CC O +washable JJ B-NP +underwear NN I-NP +during IN B-PP +the DT B-NP +Industrial NNP I-NP +Revolution NNP I-NP +. . O + +Then RB B-ADVP +cast-iron NN B-NP +sewer NN I-NP +pipe NN I-NP +and CC O +the DT B-NP +flush JJ I-NP +toilet NN I-NP +were VBD B-VP +followed VBN I-VP +by IN B-PP +sewage NN B-NP +- : I-NP +and CC I-NP +water-treatment NN I-NP +plants NNS I-NP +toward IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +19th JJ I-NP +century NN I-NP +. . O + +Medicine NNP B-NP +in IN B-PP +the DT B-NP +19th JJ I-NP +century NN I-NP +was VBD B-VP +dedicated VBN I-VP +mostly RB B-ADVP +to TO B-PP +combating VBG B-VP +sepsis NN B-NP +and CC O +diagnostic JJ B-NP +analysis NN I-NP +. . O + +Then RB B-ADVP +the DT B-NP +20th JJ I-NP +century NN I-NP +saw VBD B-VP +the DT B-NP +evolution NN I-NP +of IN B-PP +private-sector JJ B-NP +wonder NN I-NP +drugs NNS I-NP +, , O +which WDT B-NP +promulgated VBD B-VP +medical JJ B-NP +therapy NN I-NP +. . O + +The DT B-NP +process NN I-NP +dramatically RB B-VP +increased VBD I-VP +our PRP$ B-NP +average JJ I-NP +life NN I-NP +expectancy NN I-NP +, , O +eliminated VBN B-VP +much JJ B-NP +pain NN I-NP +and CC O +constantly RB B-VP +improved VBN I-VP +health NN B-NP +and CC I-NP +well-being NN I-NP +. . O + +Most JJS B-NP +public-health JJ I-NP +measures NNS I-NP +were VBD B-VP +handled VBN I-VP +at IN B-PP +the DT B-NP +local JJ I-NP +level NN I-NP +. . O + +New NNP B-NP +Environmentalism NNP I-NP +probably RB B-ADVP +started VBD B-VP +in IN B-PP +1962 CD B-NP +with IN B-PP +the DT B-NP +publication NN I-NP +of IN B-PP +Rachel NNP B-NP +Carson NNP I-NP +'s POS B-NP +book NN I-NP +`` `` O +Silent NNP B-NP +Spring NNP I-NP +. . O +'' '' O + +Shortly RB B-ADVP +thereafter RB I-ADVP +, , O +hysterical JJ B-NP +articles NNS I-NP +began VBD B-VP +to TO I-VP +appear VB I-VP +predicting VBG B-VP +that WDT B-SBAR +advanced VBD B-NP +industrial JJ I-NP +societies NNS I-NP +would MD B-VP +produce VB I-VP +a DT B-NP +blackened VBN I-NP +, , I-NP +uninhabitable JJ I-NP +planet NN I-NP +possibly RB B-ADVP +by IN B-PP +the DT B-NP +turn NN I-NP +of IN B-PP +the DT B-NP +century NN I-NP +. . O + +These DT B-NP +apocalyptic JJ I-NP +predictions NNS I-NP +were VBD B-VP +advanced VBN I-VP +by IN B-PP +such JJ B-NP +stalwarts NNS I-NP +as IN B-PP +Paul NNP B-NP +Ehrlich NNP I-NP +, , O +Barry NNP B-NP +Commoner NNP I-NP +, , O +Rene NNP B-NP +Dubois NNP I-NP +and CC O +George NNP B-NP +Wald NNP I-NP +. . O + +Writing VBG B-VP +in IN B-PP +the DT B-NP +1960s CD I-NP +Ms. NNP B-NP +Carson NNP I-NP +suggested VBD B-VP +that IN B-SBAR +the DT B-NP +human JJ I-NP +race NN I-NP +could MD B-VP +be VB I-VP +eliminated VBN I-VP +in IN B-PP +20 CD B-NP +years NNS I-NP +, , O +and CC O +Mr. NNP B-NP +Wald NNP I-NP +suggested VBD B-VP +that DT O +life NN B-NP +on IN B-PP +earth NN B-NP +might MD B-VP +end VB I-VP +by IN B-PP +1985 CD B-NP +. . O + +Mr. NNP B-NP +Ehrlich NNP I-NP +predicted VBD B-VP +unprecedented JJ B-NP +famine NN I-NP +by IN B-PP +1980 CD B-NP +. . O + +There EX B-NP +were VBD B-VP +many RB B-NP +more JJR I-NP +. . O + +Thousands NNS B-NP +of IN B-PP +chemical NN B-NP +products NNS I-NP +were VBD B-VP +categorized VBN I-VP +as IN B-PP +carcinogenic JJ B-ADJP +, , O +with IN B-PP +recommendations NNS B-NP +that IN B-SBAR +they PRP B-NP +be VBP B-VP +banned VBN I-VP +from IN B-PP +industrial JJ B-NP +use NN I-NP +because IN B-SBAR +they PRP B-NP +produced VBD B-VP +malignant JJ B-NP +tumors NNS I-NP +in IN B-PP +overdosed VBN B-NP +rats NNS I-NP +. . O + +Unknown JJ B-ADJP +before IN B-PP +1960 CD B-NP +were VBD B-VP +the DT B-NP +inconclusive JJ I-NP +effects NNS I-NP +of IN B-PP +acid NN B-NP +rain NN I-NP +, , O +greenhouse NN B-NP +warming NN I-NP +and CC O +ozone NN B-NP +depletion NN I-NP +, , O +all DT B-NP +of IN B-PP +which WDT B-NP +required VBD B-VP +burgeoning VBG B-NP +political JJ I-NP +power NN I-NP +and CC O +gargantuan JJ B-NP +expense NN I-NP +. . O + +Meanwhile RB B-ADVP +, , O +the DT B-NP +New NNP I-NP +Environmentalists NNS I-NP +systematically RB B-VP +opposed VBN I-VP +the DT B-NP +methods NNS I-NP +of IN B-PP +the DT B-NP +Old NNP I-NP +Environmentalists NNS I-NP +. . O + +Local JJ B-NP +pollution NN I-NP +problems NNS I-NP +require VBP B-VP +cheap JJ B-NP +energy NN I-NP +and CC O +capital NN B-NP +for IN B-PP +their PRP$ B-NP +solution NN I-NP +. . O + +But CC O +the DT B-NP +New NNP I-NP +Environmentalists NNS I-NP +oppose VBP B-VP +private JJ B-NP +wealth NN I-NP +creation NN I-NP +-LRB- ( O +which WDT B-NP +, , O +they PRP B-NP +claim VBP B-VP +, , O +depletes VBZ B-VP +natural JJ B-NP +resources NNS I-NP +-RRB- ) O +and CC O +nuclear JJ B-NP +power NN I-NP +-LRB- ( O +even RB B-ADVP +though IN B-SBAR +it PRP B-NP +would MD B-VP +counteract VB I-VP +the DT B-NP +greenhouse NN I-NP +effect NN I-NP +-RRB- ) O +. . O + +They PRP B-NP +are VBP B-VP +in IN B-PP +the DT B-NP +forefront NN I-NP +of IN B-PP +opposing VBG B-VP +the DT B-NP +search NN I-NP +for IN B-PP +new JJ B-NP +landfills NNS I-NP +and CC I-NP +methods NNS I-NP +of IN B-PP +incineration NN B-NP +and CC O +even RB B-ADVP +oppose VB B-VP +new JJ B-NP +methods NNS I-NP +of IN B-PP +research NN B-NP +such JJ B-PP +as IN I-PP +genetic JJ B-NP +engineering NN I-NP +. . O + +New NNP B-NP +Environmentalism NNP I-NP +is VBZ B-VP +an DT B-NP +emotional JJ I-NP +attack NN I-NP +on IN B-PP +proven VBN B-NP +methods NNS I-NP +of IN B-PP +improving VBG B-VP +our PRP$ B-NP +quality NN I-NP +of IN B-PP +life NN B-NP +and CC O +a DT B-NP +bid NN I-NP +for IN B-PP +political JJ B-NP +power NN I-NP +. . O + +Let VB B-VP +'s POS B-NP +rationalize VB B-VP +our PRP$ B-NP +priorities NNS I-NP +by IN B-PP +solving VBG B-VP +pollution NN B-NP +problems NNS I-NP +at IN B-PP +the DT B-NP +local JJ I-NP +level NN I-NP +as IN B-PP +heretofore RB O +. . O + +Harry NNP B-NP +Lee NNP I-NP +Smith NNP I-NP +Alpharetta NNP B-NP +, , O +Ga NNP B-NP +. . O + +Your PRP$ B-NP +story NN I-NP +missed VBD B-VP +some DT B-NP +essential JJ I-NP +points NNS I-NP +of IN B-PP +the DT B-NP +conference NN I-NP +on IN B-PP +`` `` O +The DT B-NP +Global NNP I-NP +Environment NNP I-NP +: : O +Are VBP O +We PRP B-NP +Overreacting VBG B-VP +? . O +'' '' O + +First NNP B-ADVP +and CC I-ADVP +foremost JJ I-ADVP +, , O +the DT B-NP +vignettes NNS I-NP +presented VBN B-VP +by IN B-PP +the DT B-NP +various JJ I-NP +scientists NNS I-NP +represent VBP B-VP +a DT B-NP +general JJ I-NP +consensus NN I-NP +among IN B-PP +specialists NNS B-NP +working VBG B-VP +in IN B-PP +the DT B-NP +respective JJ I-NP +aspects NNS I-NP +of IN B-PP +the DT B-NP +global JJ I-NP +environment NN I-NP +. . O + +Consider VB B-VP +, , O +for IN B-PP +example NN B-NP +, , O +the DT B-NP +greenhouse NN I-NP +effect NN I-NP +and CC O +climate NN B-NP +change NN I-NP +; : O +numerous JJ B-NP +blue-ribbon JJ I-NP +scientific JJ I-NP +committees NNS I-NP +, , O +including VBG B-PP +one CD B-NP +from IN B-PP +the DT B-NP +National NNP I-NP +Academy NNP I-NP +of IN B-PP +Science NNP B-NP +, , O +judge NN B-VP +there EX B-NP +is VBZ B-VP +a DT B-NP +greater JJR I-NP +than IN I-NP +50 CD I-NP +% NN I-NP +probability NN I-NP +of IN B-PP +a DT B-NP +grave JJ I-NP +problem NN I-NP +in IN B-PP +the DT B-NP +offing NN I-NP +. . O + +The DT B-NP +point NN I-NP +was VBD B-VP +to TO B-VP +answer VB I-VP +the DT B-NP +question NN I-NP +in IN B-PP +the DT B-NP +conference NN I-NP +title NN I-NP +, , O +not RB O +to TO B-VP +try VB I-VP +to TO I-VP +create VB I-VP +news NN B-NP +stories NNS I-NP +for IN B-PP +the DT B-NP +event NN I-NP +itself PRP I-NP +. . O + +Nor CC O +was VBD O +it PRP B-NP +intended VBD B-VP +to TO I-VP +dictate VB I-VP +a DT B-NP +set NN I-NP +of IN B-PP +prescriptive JJ B-NP +solutions NNS I-NP +, , O +although IN B-SBAR +various JJ B-NP +points NNS I-NP +were VBD B-VP +raised VBN I-VP +. . O + +Each DT B-NP +speaker NN I-NP +was VBD B-VP +asked VBN I-VP +to TO I-VP +address VB I-VP +a DT B-NP +specific JJ I-NP +topic NN I-NP +, , O +not RB O +deliver VB B-VP +a DT B-NP +point NN I-NP +of IN B-PP +view NN B-NP +. . O + +Each DT B-NP +scientist NN I-NP +independently RB B-VP +concluded VBD I-VP +society NN B-NP +and CC I-NP +government NN I-NP +are VBP B-VP +underreacting VBG I-VP +when WRB B-ADVP +it PRP B-NP +comes VBZ B-VP +to TO B-PP +substantive JJ B-NP +policy NN I-NP +change NN I-NP +. . O + +This DT B-NP +leads VBZ B-VP +to TO B-PP +a DT B-NP +very RB I-NP +special JJ I-NP +sense NN I-NP +of IN B-PP +urgency NN B-NP +. . O + +If IN B-SBAR +the DT B-NP +media NNS I-NP +decide VBP B-VP +to TO I-VP +work VB I-VP +harder JJR B-ADVP +at IN B-PP +educating VBG B-VP +the DT B-NP +public NN I-NP +about IN B-PP +these DT B-NP +complex JJ I-NP +and CC I-NP +technical JJ I-NP +issues NNS I-NP +, , O +that IN B-NP +hardly RB B-ADVP +can MD B-VP +be VB I-VP +termed VBN I-VP +non-objective JJ B-NP +journalism NN I-NP +. . O + +The DT B-NP +environment NN I-NP +can MD B-VP +no RB I-VP +longer RB I-VP +be VB I-VP +a DT B-NP +normal JJ I-NP +issue NN I-NP +, , O +to TO B-VP +be VB I-VP +dealt VBN I-VP +with IN O +on IN B-PP +a DT B-NP +business-as-usual JJ I-NP +basis NN I-NP +with IN B-PP +comfortable JJ B-NP +increments NNS I-NP +of IN B-PP +change NN B-NP +. . O + +We PRP B-NP +have VBP B-VP +literally RB I-VP +altered VBN I-VP +the DT B-NP +chemistry NN I-NP +and CC I-NP +physics NN I-NP +of IN B-PP +our PRP$ B-NP +planet NN I-NP +'s POS B-NP +atmosphere NN I-NP +. . O + +This DT B-NP +portends VBZ B-VP +consequences NNS B-NP +from IN B-PP +what WP B-NP +we PRP B-NP +have VBP B-VP +already RB I-VP +done VBN I-VP +that WDT B-NP +will MD B-VP +be VB I-VP +very RB B-ADJP +destabilizing VBG I-ADJP +to TO B-PP +social JJ B-NP +and CC I-NP +economic JJ I-NP +systems NNS I-NP +. . O + +The DT B-NP +problems NNS I-NP +of IN B-PP +the DT B-NP +environment NN I-NP +are VBP B-VP +so RB B-ADJP +interrelated VBN I-ADJP +, , O +so RB B-ADJP +inextricably RB I-ADJP +entwined VBN I-ADJP +with IN B-PP +our PRP$ B-NP +current JJ I-NP +way NN I-NP +of IN B-PP +life NN B-NP +and CC O +so RB B-ADJP +large JJ I-ADJP +that IN B-SBAR +it PRP B-NP +is VBZ B-VP +unlikely JJ B-ADJP +we PRP B-NP +will MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +address VB I-VP +them PRP B-NP +effectively RB B-ADVP +unless IN B-SBAR +major JJ B-NP +changes NNS I-NP +are VBP B-VP +made VBN I-VP +in IN B-PP +less JJR B-NP +than IN I-NP +10 CD I-NP +years NNS I-NP +. . O + +The DT B-NP +consensus NN I-NP +from IN B-PP +the DT B-NP +scientific JJ I-NP +community NN I-NP +is VBZ B-VP +that IN B-SBAR +there EX B-NP +is VBZ B-VP +sufficient JJ B-NP +evidence NN I-NP +to TO B-VP +advise VB I-VP +major JJ B-NP +policy NN I-NP +changes NNS I-NP +. . O + +No DT B-INTJ +, , O +we PRP B-NP +are VBP B-VP +not RB I-VP +overreacting VBG I-VP +. . O + +Thomas NNP B-NP +E. NNP I-NP +Lovejoy NNP I-NP +Assistant NNP B-NP +Secretary NNP I-NP +for IN B-PP +External NNP B-NP +Affairs NNP I-NP +Smithsonian NNP B-NP +Institution NNP I-NP + +Coca-Cola NNP B-NP +Enterprises NNPS I-NP +Inc. NNP I-NP +, , O +fulfilling VBG B-VP +its PRP$ B-NP +dismal JJ I-NP +earnings NNS I-NP +forecast NN I-NP +for IN B-PP +1989 CD B-NP +, , O +said VBD B-VP +its PRP$ B-NP +third-quarter JJ I-NP +net JJ I-NP +income NN I-NP +fell VBD B-VP +68 CD B-NP +% NN I-NP +on IN B-PP +flat JJ B-NP +revenue NN I-NP +. . O + +Stung VBN B-VP +by IN B-PP +higher JJR B-NP +marketing NN I-NP +costs NNS I-NP +and CC O +slowing VBG B-NP +volume NN I-NP +growth NN I-NP +, , O +the DT B-NP +giant NN I-NP +Coke NNP I-NP +bottling NN I-NP +operation NN I-NP +said VBD B-VP +net NN B-NP +fell VBD B-VP +to TO B-PP +$ $ B-NP +12.7 CD I-NP +million CD I-NP +, , O +or CC O +six CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +39.9 CD I-NP +million CD I-NP +, , O +or CC O +26 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +the DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +The DT B-NP +results NNS I-NP +met VBD B-VP +estimates NNS B-NP +of IN B-PP +analysts NNS B-NP +, , O +who WP B-NP +had VBD B-VP +already RB I-VP +slashed VBN I-VP +their PRP$ B-NP +projections NNS I-NP +after IN B-SBAR +the DT B-NP +company NN I-NP +said VBD B-VP +in IN B-PP +late JJ B-NP +August NNP I-NP +that IN B-SBAR +its PRP$ B-NP +1989 CD I-NP +earnings NNS I-NP +could MD B-VP +tumble VB I-VP +as RB B-NP +much JJ I-NP +as IN I-NP +37 CD I-NP +% NN I-NP +. . O + +A DT B-NP +company NN I-NP +spokesman NN I-NP +said VBD B-VP +yesterday NN B-NP +that IN B-SBAR +Coca-Cola NNP B-NP +Enterprises NNPS I-NP +sticks NNS B-VP +by IN B-PP +its PRP$ B-NP +1989 CD I-NP +forecast NN I-NP +. . O + +Third-quarter JJ B-NP +revenue NN I-NP +was VBD B-VP +flat JJ B-ADJP +at IN B-PP +$ $ B-NP +1.02 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +year-ago JJ I-NP +results NNS I-NP +, , O +however RB B-ADVP +, , O +included VBD B-VP +the DT B-NP +operations NNS I-NP +of IN B-PP +a DT B-NP +bottling NN I-NP +business NN I-NP +, , O +which WDT B-NP +was VBD B-VP +sold VBN I-VP +last JJ B-NP +December NNP I-NP +. . O + +Excluding VBG B-VP +that DT B-NP +bottling NN I-NP +business NN I-NP +, , O +Coca-Cola NNP B-NP +Enterprises NNPS I-NP +' POS B-NP +volume NN I-NP +, , O +measured VBN B-VP +by IN B-PP +cases NNS B-NP +of IN B-PP +soda NN B-NP +, , O +rose VBD B-VP +only RB B-NP +1 CD I-NP +% NN I-NP +. . O + +The DT B-NP +volume NN I-NP +is VBZ B-VP +well RB B-ADVP +below IN B-PP +the DT B-NP +industry NN I-NP +'s POS B-NP +4 CD I-NP +% NN I-NP +to TO I-NP +5 VB I-NP +% NN I-NP +growth NN I-NP +rate NN I-NP +of IN B-PP +recent JJ B-NP +years NNS I-NP +, , B-PP +but CC I-PP +in IN B-PP +line NN B-NP +with IN B-PP +other JJ B-NP +soft-drink NN I-NP +companies NNS I-NP +for IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +. . O + +The DT B-NP +latest JJS I-NP +third-quarter JJ I-NP +volume NN I-NP +also RB B-ADVP +compares VBZ B-VP +with IN B-PP +a DT B-NP +very RB I-NP +strong JJ I-NP +10 CD I-NP +% NN I-NP +growth NN I-NP +in IN B-PP +the DT B-NP +year-ago JJ I-NP +quarter NN I-NP +. . O + +Coca-Cola NNP B-NP +Enterprises NNPS I-NP +blamed VBD B-VP +the DT B-NP +lower JJR I-NP +volume NN I-NP +on IN B-PP +its PRP$ B-NP +soft-drink NN I-NP +prices NNS I-NP +, , O +which WDT B-NP +were VBD B-VP +about IN B-ADJP +3 CD I-ADJP +% NN I-ADJP +higher JJR B-ADJP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +. . O + +Consumers NNS B-NP +have VBP B-VP +been VBN I-VP +accustomed VBN I-VP +to TO B-PP +buying VBG B-VP +soft-drinks NNS B-NP +at IN B-PP +discounted VBN B-NP +prices NNS I-NP +for IN B-PP +several JJ B-NP +years NNS I-NP +. . O + +Coca-Cola NNP B-NP +Enterprises NNPS I-NP +said VBD B-VP +it PRP B-NP +had VBD B-VP +to TO I-VP +boost VB I-VP +spending NN B-NP +for IN B-PP +trade NN B-NP +and CC I-NP +dealer NN I-NP +incentives NNS I-NP +to TO B-VP +try VB I-VP +to TO I-VP +keep VB I-VP +volumes NNS B-NP +from IN B-PP +slipping VBG B-VP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +it PRP B-NP +expects VBZ B-VP +consumers NNS B-NP +will MD B-VP +adjust VB I-VP +to TO B-PP +higher-priced JJ B-NP +soft JJ I-NP +drinks NNS I-NP +. . O + +A DT B-NP +spokesman NN I-NP +attributed VBD B-VP +the DT B-NP +bulk NN I-NP +of IN B-PP +a DT B-NP +14 CD I-NP +% NN I-NP +increase NN I-NP +in IN B-PP +selling VBG B-NP +, , I-NP +administrative JJ I-NP +and CC I-NP +general JJ I-NP +expenses NNS I-NP +-- : O +to TO B-PP +$ $ B-NP +324.9 CD I-NP +million CD I-NP +-- : O +to TO B-PP +marketing NN B-NP +costs NNS I-NP +. . O + +`` `` O +They PRP B-NP +'re VBP B-VP +out IN B-PP +there RB B-NP +promoting VBG B-VP +like IN B-PP +crazy JJ B-ADJP +, , O +trying VBG B-VP +to TO I-VP +get VB I-VP +prices NNS B-NP +up IN B-ADJP +by IN B-PP +promotion NN B-NP +, , O +'' '' O +said VBD B-VP +Roy NNP B-NP +Burry NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +with IN B-PP +Kidder NNP B-NP +, , I-NP +Peabody NNP I-NP +& CC I-NP +Co NNP I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +Coca-Cola NNP B-NP +Enterprises NNPS I-NP +' POS B-NP +net NN I-NP +fell VBD B-VP +31 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +65 CD I-NP +million CD I-NP +, , O +or CC O +39 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +93.8 CD I-NP +million CD I-NP +, , O +or CC O +63 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +Revenue NN B-NP +was VBD B-VP +flat JJ B-ADJP +at IN B-PP +about RB B-NP +$ $ I-NP +2.97 CD I-NP +billion CD I-NP +. . O + +Coca-Cola NNP B-NP +Enterprises NNPS I-NP +, , O +which WDT B-NP +is VBZ B-VP +49%-owned JJ B-ADJP +by IN B-PP +Coca-Cola NNP B-NP +Co. NNP I-NP +, , O +also RB B-ADVP +said VBD B-VP +it PRP B-NP +repurchased VBD B-VP +about IN B-NP +1.2 CD I-NP +million CD I-NP +of IN B-PP +its PRP$ B-NP +common JJ I-NP +shares NNS I-NP +during IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +. . O + +The DT B-NP +buy-back NN I-NP +is VBZ B-VP +part NN B-NP +of IN B-PP +a DT B-NP +25-million-share JJ I-NP +repurchase NN I-NP +plan NN I-NP +, , O +under IN B-PP +which WDT B-NP +Coca-Cola NNP B-NP +Enterprises NNPS I-NP +so RB B-ADVP +far RB I-ADVP +has VBZ B-VP +acquired VBN I-VP +a DT B-NP +total NN I-NP +of IN B-PP +9.7 CD B-NP +million CD I-NP +shares NNS I-NP +. . O + +Separately RB B-ADVP +, , O +Purchase NNP B-NP +, , I-NP +N.Y.-based JJ I-NP +PepsiCo NNP I-NP +Inc. NNP I-NP +, , O +as IN B-SBAR +expected VBN B-VP +, , O +said VBD B-VP +fiscal JJ B-NP +third-quarter JJ I-NP +net NN I-NP +rose VBD B-VP +11 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +269.3 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.02 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +241.6 CD I-NP +million CD I-NP +, , O +or CC O +91 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +Sales NNS B-NP +rose VBD B-VP +25 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +3.90 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +3.13 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +year-ago JJ I-NP +quarter NN I-NP +'s POS B-NP +results NNS I-NP +include VBP B-VP +an DT B-NP +after-tax JJ I-NP +charge NN I-NP +of IN B-PP +$ $ B-NP +5.9 CD I-NP +million CD I-NP +from IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +a DT B-NP +winery NN I-NP +in IN B-PP +Spain NNP B-NP +. . O + +In IN B-PP +composite JJ B-NP +trading NN I-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +, , O +Coca-Cola NNP B-NP +Enterprises NNPS I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +16.375 CD I-NP +a DT B-NP +share NN I-NP +, , O +down RB B-ADVP +62.5 CD B-NP +cents NNS I-NP +. . O + +PepsiCo NNP B-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +58.50 CD I-NP +a DT B-NP +share NN I-NP +, , O +up IN B-ADVP +$ $ B-NP +1.375 CD I-NP +. . O + +L.J. NNP B-NP +Hooker NNP I-NP +Corp. NNP I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +reach VB I-VP +an DT B-NP +agreement NN I-NP +in IN B-PP +principle NN B-NP +this DT B-NP +week NN I-NP +to TO B-VP +sell VB I-VP +Merksamer NNP B-NP +Jewelers NNP I-NP +Inc. NNP I-NP +to TO B-PP +management NN B-NP +, , O +say VBP B-VP +executives NNS B-NP +familiar JJ B-ADJP +with IN B-PP +the DT B-NP +talks NNS I-NP +. . O + +L.J. NNP B-NP +Hooker NNP I-NP +, , O +based VBN B-VP +in IN B-PP +Atlanta NNP B-NP +, , O +filed VBN B-VP +for IN B-PP +Chapter NN B-NP +11 CD I-NP +bankruptcy NN I-NP +protection NN I-NP +earlier RBR B-ADVP +this DT B-NP +year NN I-NP +. . O + +Currently RB B-ADVP +, , O +its PRP$ B-NP +parent NN I-NP +company NN I-NP +, , O +Hooker NNP B-NP +Corp. NNP I-NP +of IN B-PP +Sydney NNP B-NP +, , O +Australia NNP B-NP +, , O +is VBZ B-VP +being VBG I-VP +managed VBN I-VP +by IN B-PP +a DT B-NP +court-appointed JJ I-NP +liquidator NN I-NP +. . O + +It PRP B-NP +is VBZ B-VP +expected VBN I-VP +that IN B-SBAR +GE NNP B-NP +Capital NNP I-NP +Corp. NNP I-NP +, , O +a DT B-NP +financial-services NNS I-NP +subsidiary NN I-NP +of IN B-PP +General NNP B-NP +Electric NNP I-NP +Co. NNP I-NP +, , O +will MD B-VP +provide VB I-VP +much NN B-NP +of IN I-NP +the DT B-NP +funding NN I-NP +for IN B-PP +the DT B-NP +proposed VBN I-NP +leveraged JJ I-NP +buy-out NN I-NP +of IN B-PP +Merksamer NNP B-NP +, , O +based VBN B-VP +in IN B-PP +Sacramento NNP B-NP +, , O +Calif NNP B-NP +. . O + +A DT B-NP +spokesman NN I-NP +for IN B-PP +GE NNP B-NP +Capital NNP I-NP +declined VBD B-VP +to TO I-VP +comment VB I-VP +. . O + +GE NNP B-NP +Capital NNP I-NP +has VBZ B-VP +a DT B-NP +working VBG I-NP +relationship NN I-NP +with IN B-PP +L.J. NNP B-NP +Hooker NNP I-NP +. . O + +It PRP B-NP +is VBZ B-VP +providing VBG I-VP +$ $ B-NP +50 CD I-NP +million CD I-NP +in IN B-PP +emergency NN B-NP +financing NN I-NP +to TO B-PP +the DT B-NP +company NN I-NP +and CC O +has VBZ B-VP +agreed VBN I-VP +to TO I-VP +buy VB I-VP +as RB B-NP +much JJ I-NP +as IN B-PP +$ $ B-NP +75 CD I-NP +million CD I-NP +in IN B-PP +receivables NN B-NP +from IN B-PP +B. NNP B-NP +Altman NNP I-NP +& CC I-NP +Co. NNP I-NP +and CC O +Bonwit NNP B-NP +Teller NNP I-NP +, , O +L.J. NNP B-NP +Hooker NNP I-NP +'s POS B-NP +two CD O +fully RB B-ADJP +owned VBN I-ADJP +department-store NN B-NP +chains NNS I-NP +. . O + +Sam NNP B-NP +Merksamer NNP I-NP +, , O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +the DT B-NP +nationwide JJ I-NP +jewelry NN I-NP +chain NN I-NP +, , O +and CC O +Sanford NNP B-NP +Sigoloff NNP I-NP +, , O +chief JJ B-NP +executive NN I-NP +of IN B-PP +L.J. NNP B-NP +Hooker NNP I-NP +Corp. NNP I-NP +, , O +both DT B-NP +declined VBD B-VP +to TO I-VP +comment VB I-VP +. . O + +Currently RB B-ADVP +, , O +Mr. NNP B-NP +Merksamer NNP I-NP +owns VBZ B-VP +20 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +; : O +L.J. NNP B-NP +Hooker NNP I-NP +acquired VBD B-VP +its PRP$ B-NP +80 CD I-NP +% NN I-NP +interest NN I-NP +in IN B-PP +the DT B-NP +firm NN I-NP +in IN B-PP +May NNP B-NP +1986 CD I-NP +. . O + +At IN B-PP +the DT B-NP +time NN I-NP +, , O +the DT B-NP +Merksamer NNP I-NP +chain NN I-NP +had VBD B-VP +11 CD B-NP +stores NNS I-NP +in IN B-PP +operation NN B-NP +. . O + +Today NN B-NP +, , O +there EX B-NP +are VBP B-VP +77 CD B-NP +units NNS I-NP +, , O +all DT B-NP +located VBN B-ADJP +in IN B-PP +shopping NN B-NP +malls NNS I-NP +. . O + +In IN B-PP +recent JJ B-NP +weeks NNS I-NP +Mr. NNP B-NP +Merksamer NNP I-NP +has VBZ B-VP +approached VBN I-VP +a DT B-NP +number NN I-NP +of IN B-PP +his PRP$ B-NP +suppliers NNS I-NP +and CC O +asked VBD B-VP +them PRP B-NP +to TO B-VP +provide VB I-VP +letters NNS B-NP +of IN B-PP +intent NN B-NP +saying VBG B-VP +they PRP B-NP +will MD B-VP +continue VB I-VP +shipping VBG I-VP +merchandise NN B-NP +to TO B-PP +the DT B-NP +chain NN I-NP +following VBG B-PP +the DT B-NP +buy-out NN I-NP +, , O +say VBP B-VP +those DT B-NP +familiar NN B-ADJP +with IN B-PP +the DT B-NP +situation NN I-NP +. . O + +This DT B-NP +year NN I-NP +, , O +a DT B-NP +number NN I-NP +of IN B-PP +retail JJ B-NP +leveraged JJ I-NP +buyouts NNS I-NP +have VBP B-VP +failed VBN I-VP +, , O +causing VBG B-VP +jitters NNS B-NP +among IN B-PP +suppliers NNS B-NP +, , O +and CC O +Mr. NNP B-NP +Merksamer NNP I-NP +apparently RB B-ADVP +wanted VBD B-VP +assurances NNS B-NP +that IN B-SBAR +he PRP B-NP +wo MD B-VP +n't RB I-VP +have VB I-VP +delivery NN B-NP +problems NNS I-NP +. . O + +For IN B-PP +the DT B-NP +year NN I-NP +ended VBN B-VP +June NNP B-NP +30 CD I-NP +, , I-NP +1989 CD I-NP +, , O +Merksamer NNP B-NP +Jewelers NNPS I-NP +had VBD B-VP +$ $ B-NP +62 CD I-NP +million CD I-NP +of IN B-PP +revenue NN B-NP +and CC O +operating VBG B-NP +profit NN I-NP +of IN B-PP +$ $ B-NP +2.5 CD I-NP +million CD I-NP +. . O + +The DT B-NP +jewelery NN I-NP +chain NN I-NP +was VBD B-VP +put VBN I-VP +up IN B-ADVP +for IN B-PP +sale NN B-NP +in IN B-PP +June NNP B-NP +. . O + +According VBG B-PP +to TO B-PP +those DT B-NP +familiar NN B-ADJP +with IN B-PP +the DT B-NP +situation NN I-NP +, , O +other JJ B-NP +bidders NNS I-NP +included VBD B-VP +Ratners NNP B-NP +Group NNP I-NP +PLC NNP I-NP +of IN B-PP +London NNP B-NP +and CC O +Kay NNP B-NP +Jewelers NNP I-NP +Inc NNP I-NP +. . O + +First NNP B-NP +Boston NNP I-NP +Corp. NNP I-NP +is VBZ B-VP +advising VBG I-VP +L.J. NNP B-NP +Hooker NNP I-NP +on IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +the DT B-NP +Merksamer NNP I-NP +business NN I-NP +. . O + +Merksamer NNP B-NP +was VBD B-VP +the DT B-NP +first JJ I-NP +in IN B-PP +a DT B-NP +series NN I-NP +of IN B-PP +retail JJ B-NP +acquisitions NNS I-NP +made VBN B-VP +by IN B-PP +L.J. NNP B-NP +Hooker NNP I-NP +. . O + +The DT B-NP +company NN I-NP +was VBD B-VP +founded VBN I-VP +in IN B-PP +Sacramento NNP B-NP +in IN B-PP +1929 CD B-NP +by IN B-PP +two CD B-NP +brothers NNS I-NP +, , O +Ralph NNP B-NP +and CC I-NP +Walter NNP I-NP +Merksamer NNP I-NP +, , O +who WP B-NP +operated VBD B-VP +as IN B-PP +DeVon NNP B-NP +'s POS B-NP +Jewelers NNPS I-NP +. . O + +In IN B-PP +1979 CD B-NP +, , O +the DT B-NP +pair NN I-NP +split NN B-VP +the DT B-NP +company NN I-NP +in IN B-PP +half NN B-NP +, , O +with IN B-PP +Walter NNP B-NP +and CC O +his PRP$ B-NP +son NN I-NP +, , O +Sam NNP B-NP +, , O +agreeing VBG B-VP +to TO I-VP +operate VB I-VP +under IN B-PP +the DT B-NP +Merksamer NNP I-NP +Jewelery NNP I-NP +name NN I-NP +. . O + +The DT B-NP +sale NN I-NP +of IN B-PP +Merksamer NNP B-NP +Jewelers NNPS I-NP +is VBZ B-VP +subject NN B-ADJP +to TO B-PP +approval NN B-NP +by IN B-PP +Judge NNP B-NP +Tina NNP I-NP +Brozman NNP I-NP +of IN B-PP +U.S. NNP B-NP +Bankruptcy NNP I-NP +Court NNP I-NP +. . O + +As IN B-SBAR +earlier RBR B-ADVP +reported VBD B-VP +, , O +L.J. NNP B-NP +Hooker NNP I-NP +this DT B-NP +week NN I-NP +received VBD B-VP +a DT B-NP +$ $ I-NP +409 CD I-NP +million CD I-NP +bid NN I-NP +for IN B-PP +its PRP$ B-NP +three CD I-NP +shopping NN I-NP +malls NNS I-NP +, , O +plus CC O +other JJ B-NP +properties NNS I-NP +from IN B-PP +a DT B-NP +consortium NN I-NP +led VBN B-VP +by IN B-PP +Honolulu NNP B-NP +real-estate NN I-NP +investor NN I-NP +Jay NNP I-NP +Shidler NNP I-NP +and CC O +A. NNP B-NP +Boyd NNP I-NP +Simpson NNP I-NP +, , O +an DT B-NP +Atlanta NNP I-NP +developer NN I-NP +and CC O +former JJ B-NP +L.J. NNP I-NP +Hooker NNP I-NP +senior JJ I-NP +executive NN I-NP +. . O + +The DT B-NP +offer NN I-NP +, , O +which WDT B-NP +did VBD B-VP +n't RB I-VP +include VB I-VP +the DT B-NP +Merksamer NNP I-NP +chain NN I-NP +, , O +is VBZ B-VP +being VBG I-VP +reviewed VBN I-VP +by IN B-PP +Mr. NNP B-NP +Sigoloff NNP I-NP +. . O + +Robert NNP B-NP +J. NNP I-NP +Regal NNP I-NP +was VBD B-VP +named VBN I-VP +president NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +this DT B-NP +company NN I-NP +'s POS B-NP +Universal-Rundle NNP I-NP +Corp. NNP I-NP +unit NN I-NP +. . O + +Mr. NNP B-NP +Regal NNP I-NP +had VBD B-VP +been VBN I-VP +president NN B-NP +and CC O +chief JJ B-NP +executive NN I-NP +of IN B-PP +RBS NNP B-NP +Industries NNP I-NP +Inc NNP I-NP +. . O + +Robert NNP B-NP +H. NNP I-NP +Carlson NNP I-NP +, , O +previous JJ B-NP +president NN I-NP +and CC I-NP +chief JJ I-NP +executive NN I-NP +of IN B-PP +Universal-Rundle NNP B-NP +, , O +will MD B-VP +assume VB I-VP +the DT B-NP +title NN I-NP +of IN B-PP +chairman NN B-NP +of IN B-PP +the DT B-NP +unit NN I-NP +, , O +a DT B-NP +vitreous-china NN I-NP +maker NN I-NP +. . O + +The DT B-NP +days NNS I-NP +may MD B-VP +be VB I-VP +numbered VBN I-VP +for IN B-PP +animated JJ B-NP +shows NNS I-NP +featuring VBG B-VP +Alf NNP B-NP +, , O +the DT B-NP +Karate NNP I-NP +Kid NNP I-NP +and CC O +the DT B-NP +Chipmunks NNPS I-NP +. . O + +NBC NNP B-NP +, , O +a DT B-NP +leader NN I-NP +in IN B-PP +morning NN B-NP +, , I-NP +prime-time JJ I-NP +and CC I-NP +late JJ I-NP +night NN I-NP +programs NNS I-NP +but CC O +an DT B-NP +also-ran NN I-NP +on IN B-PP +Saturday NNP B-NP +mornings NNS I-NP +, , O +when WRB B-ADVP +children NNS B-NP +rule VBP B-VP +the DT B-NP +TV NN I-NP +set VBN I-NP +, , O +is VBZ B-VP +contemplating VBG I-VP +getting VBG I-VP +out IN B-ADVP +of IN B-PP +the DT B-NP +cartoon NN I-NP +business NN I-NP +. . O + +Instead RB B-ADVP +, , O +network NN B-NP +officials NNS I-NP +say VBP B-VP +, , O +it PRP B-NP +may MD B-VP +`` `` I-VP +counterprogram VB I-VP +'' '' O +with IN B-PP +shows VBZ B-NP +for IN B-PP +an DT B-NP +audience NN I-NP +that WDT B-NP +is VBZ B-VP +virtually RB I-VP +ignored VBN I-VP +in IN B-PP +that DT B-NP +time NN I-NP +period NN I-NP +: : O +adults NNS B-NP +. . O + +`` `` O +There EX B-NP +is VBZ B-VP +talk VB B-NP +of IN B-PP +some DT B-NP +revamping VBG I-NP +and CC O +we PRP B-NP +'re VBP B-VP +certainly RB I-VP +heading VBG I-VP +in IN B-PP +the DT B-NP +direction NN I-NP +of IN B-PP +less JJR B-NP +and CC I-NP +less JJR I-NP +animation NN I-NP +, , O +'' '' O +said VBD B-VP +Joseph NNP B-NP +S. NNP I-NP +Cicero NNP I-NP +, , O +vice NN B-NP +president NN I-NP +of IN B-PP +finance NN B-NP +and CC I-NP +administration NN I-NP +for IN B-PP +National NNP B-NP +Broadcasting NNP I-NP +Co. NNP I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +General NNP B-NP +Electric NNP I-NP +Co NNP I-NP +. . O + +Mr. NNP B-NP +Cicero NNP I-NP +said VBD B-VP +that IN B-SBAR +NBC NNP B-NP +Entertainment NNP I-NP +president NNP I-NP +Brandon NNP I-NP +Tartikoff NNP I-NP +, , O +who WP B-NP +declined VBD B-VP +to TO I-VP +be VB I-VP +interviewed VBN I-VP +, , O +is VBZ B-VP +`` `` O +looking VBG B-VP +at IN B-PP +options NNS B-NP +now RB B-ADVP +and CC O +may MD B-VP +put VB I-VP +some DT B-NP +things NNS I-NP +into IN B-PP +the DT B-NP +schedule NN I-NP +by IN B-PP +mid-season NN B-NP +. . O +'' '' O + +He PRP B-NP +declined VBD B-VP +to TO I-VP +elaborate VB I-VP +. . O + +NBC NNP B-NP +'s POS B-NP +options NNS I-NP +could MD B-VP +range VB I-VP +from IN B-PP +news-oriented JJ B-NP +programming NN I-NP +to TO B-PP +sports NNS B-NP +shows VBZ I-NP +, , O +although IN B-SBAR +the DT B-NP +network NN I-NP +declined VBD B-VP +to TO I-VP +comment VB I-VP +. . O + +One CD B-NP +major JJ I-NP +NBC NNP I-NP +affiliate NN I-NP +, , O +KCRA NNP B-NP +in IN B-PP +Sacramento NNP B-NP +, , O +plans VBZ B-VP +to TO I-VP +cancel VB I-VP +the DT B-NP +NBC NNP I-NP +Saturday NNP I-NP +morning NN I-NP +line-up NN I-NP +as IN B-PP +of IN I-PP +January NNP B-NP +and CC O +replace VB B-VP +it PRP B-NP +with IN B-PP +a DT B-NP +local JJ I-NP +newscast NN I-NP +. . O + +The DT B-NP +one-hour JJ I-NP +program NN I-NP +will MD B-VP +be VB I-VP +repeated VBN I-VP +with IN B-PP +updates NNS B-NP +throughout IN B-PP +Saturday NNP B-NP +mornings NNS I-NP +. . O + +`` `` O +We PRP B-NP +feel VBP B-VP +there EX B-NP +is VBZ B-VP +an DT B-NP +opportunity NN I-NP +for IN B-PP +an DT B-NP +audience NN I-NP +that WDT B-NP +is VBZ B-VP +not RB I-VP +being VBG I-VP +served VBN I-VP +by IN B-PP +any DT B-NP +network NN I-NP +, , O +so IN O +we PRP B-NP +want VBP B-VP +to TO I-VP +take VB I-VP +the DT B-NP +lead NN I-NP +, , O +'' '' O +says VBZ B-VP +KCRA NNP B-NP +'s POS B-NP +general JJ I-NP +manager NN I-NP +, , O +John NNP B-NP +Kueneke NNP I-NP +. . O + +`` `` O +We PRP B-NP +do VBP B-VP +n't RB I-VP +need VB I-VP +cartoons NNS B-NP +anymore RB B-ADVP +. . O + +They PRP B-NP +only RB B-ADVP +accounted VBD B-VP +for IN B-PP +5 NN B-NP +% NN I-NP +, , O +at IN B-ADVP +best JJS I-ADVP +, , O +of IN B-PP +the DT B-NP +station NN I-NP +'s POS B-NP +total JJ I-NP +revenues NNS I-NP +. . O +'' '' O + +An DT B-NP +NBC NNP I-NP +spokesman NN I-NP +says VBZ B-VP +the DT B-NP +network NN I-NP +will MD B-VP +`` `` I-VP +closely RB I-VP +monitor VB I-VP +'' '' O +the DT B-NP +Sacramento NNP I-NP +situation NN I-NP +, , O +and CC O +says VBZ B-VP +it PRP B-NP +is VBZ B-VP +the DT B-NP +only JJ I-NP +station NN I-NP +to TO B-VP +defect VB I-VP +. . O + +Spokesmen NNS B-NP +for IN B-PP +the DT B-NP +television NN I-NP +networks NNS I-NP +of IN B-PP +CBS NNP B-NP +Inc. NNP I-NP +and CC O +Capital NNP B-NP +Cities\/ABC NNP I-NP +Inc. NNP I-NP +, , O +say VBP B-VP +there EX B-NP +are VBP B-VP +no DT B-NP +plans NNS I-NP +to TO B-VP +alter VB I-VP +the DT B-NP +children NNS I-NP +'s POS B-NP +line-up NN I-NP +on IN B-PP +Saturday NNP B-NP +mornings NNS I-NP +. . O + +The DT B-NP +youthful JJ I-NP +audience NN I-NP +for IN B-PP +Saturday NNP B-NP +programming NN I-NP +is VBZ B-VP +no RB B-ADVP +longer RB I-ADVP +dependent JJ B-ADJP +on IN B-PP +the DT B-NP +networks NNS I-NP +. . O + +There EX B-NP +has VBZ B-VP +been VBN I-VP +a DT B-NP +surge NN I-NP +in IN B-PP +syndicated VBN O +children NNS B-NP +'s POS B-NP +shows VBZ I-NP +to TO B-PP +independent JJ B-NP +stations NNS I-NP +, , O +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +competition NN B-NP +from IN B-PP +videocassettes NNS B-NP +for IN B-PP +kids NNS B-NP +and CC B-PP +from IN B-PP +cable NN B-NP +outlets NNS I-NP +such JJ B-PP +as IN I-PP +Nickelodeon NNP B-NP +and CC O +the DT B-NP +Disney NNP I-NP +Channel NNP I-NP +. . O + +At IN B-PP +the DT B-NP +same JJ I-NP +time NN I-NP +, , O +there EX B-NP +appears VBZ B-VP +to TO I-VP +be VB I-VP +a DT B-NP +market NN I-NP +for IN B-PP +news-oriented JJ B-NP +programming NN I-NP +; : O +Turner NNP B-NP +Broadcasting NNP I-NP +System NNP I-NP +Inc. NNP I-NP +'s POS B-NP +Cable NNP I-NP +News NNP I-NP +Network NNP I-NP +has VBZ B-VP +its PRP$ B-NP +highest JJS I-NP +ratings NNS I-NP +, , O +outside IN B-ADVP +of IN B-PP +prime JJ B-NP +time NN I-NP +, , O +on IN B-PP +Saturday NNP B-NP +mornings NNS I-NP +. . O + +NBC NNP B-NP +has VBZ B-VP +on IN B-PP +previous JJ B-NP +occasions NNS I-NP +considered VBN B-VP +replacing VBG I-VP +cartoons NNS B-NP +with IN B-PP +a DT B-NP +Saturday NNP I-NP +version NN I-NP +of IN B-PP +`` `` O +Today NN B-NP +, , O +'' '' O +which WDT B-NP +is VBZ B-VP +produced VBN I-VP +by IN B-PP +NBC NNP B-NP +News NNP I-NP +. . O + +The DT B-NP +network NN I-NP +'s POS B-NP +own JJ I-NP +production NN I-NP +company NN I-NP +, , O +NBC NNP B-NP +Productions NNPS I-NP +, , O +supplies VBZ B-VP +a DT B-NP +half-hour NN I-NP +family-oriented JJ I-NP +show NN I-NP +titled VBN B-VP +`` `` O +Saved NNP B-VP +By IN O +The DT B-NP +Bell NNP I-NP +. . O +'' '' O + +NBC NNP B-NP +Productions NNPS I-NP +or CC O +NBC NNP B-NP +News NNP I-NP +could MD B-VP +supply VB I-VP +the DT B-NP +network NN I-NP +with IN B-PP +other JJ B-NP +Saturday NNP I-NP +morning NN I-NP +shows VBZ I-NP +, , O +a DT B-NP +move NN I-NP +that WDT B-NP +would MD B-VP +control VB I-VP +costs NNS B-NP +. . O + +Animated JJ B-NP +shows NNS I-NP +, , O +which WDT B-NP +are VBP B-VP +made VBN I-VP +by IN B-PP +outside IN B-NP +production NN I-NP +companies NNS I-NP +, , O +cost NN B-VP +the DT B-NP +network NN I-NP +about RB B-NP +$ $ I-NP +300,000 CD I-NP +per IN B-PP +episode NN B-NP +. . O + +Rohm NNP B-NP +& CC I-NP +Haas NNP I-NP +Co. NNP I-NP +said VBD B-VP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +skidded VBD B-VP +35 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +32.6 CD I-NP +million CD I-NP +, , O +or CC O +49 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +In IN B-PP +the DT B-NP +year-earlier JJ I-NP +quarter NN I-NP +, , O +the DT B-NP +chemicals NNS I-NP +company NN I-NP +had VBD B-VP +net NN B-NP +of IN B-PP +$ $ B-NP +49.8 CD I-NP +million CD I-NP +, , O +or CC O +75 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +Sales NNS B-NP +were VBD B-VP +$ $ B-NP +623 CD I-NP +million CD I-NP +, , O +up IN B-ADVP +0.5 CD B-NP +% NN I-NP +from IN B-PP +$ $ B-NP +619.8 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Rohm NNP B-NP +& CC I-NP +Haas NNP I-NP +, , O +which WDT B-NP +plans VBZ B-VP +to TO I-VP +start VB I-VP +operating VBG I-VP +seven CD B-NP +new JJ I-NP +production NN I-NP +units NNS I-NP +this DT B-NP +year NN I-NP +, , O +attributed VBD B-VP +the DT B-NP +profit NN I-NP +slide NN I-NP +partly RB B-ADVP +to TO B-PP +higher JJR B-NP +start-up JJ I-NP +expense NN I-NP +. . O + +The DT B-NP +company NN I-NP +also RB B-ADVP +cited VBD B-VP +the DT B-NP +stronger JJR I-NP +dollar NN I-NP +, , O +which WDT B-NP +cuts VBZ B-VP +the DT B-NP +value NN I-NP +of IN B-PP +overseas JJ B-NP +profit NN I-NP +when WRB B-ADVP +it PRP B-NP +is VBZ B-VP +translated VBN I-VP +into IN B-PP +dollars NNS B-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +, , O +it PRP B-NP +was VBD B-VP +hurt VBN I-VP +by IN B-PP +higher JJR O +than IN B-PP +previous-year JJ B-ADJP +costs NNS B-NP +for IN B-PP +raw JJ B-NP +materials NNS I-NP +, , O +though IN B-SBAR +those DT B-NP +costs NNS I-NP +have VBP B-VP +declined VBN I-VP +since IN B-PP +the DT B-NP +second JJ I-NP +quarter NN I-NP +. . O + +Incrementally RB B-NP +higher JJR I-NP +production NN I-NP +of IN B-PP +those DT B-NP +chemicals NNS I-NP +which WDT B-NP +remain VBP B-VP +in IN B-PP +heavy JJ B-NP +demand NN I-NP +also RB B-ADVP +has VBZ B-VP +forced VBN I-VP +up IN B-ADJP +costs NNS B-NP +, , O +such JJ B-ADVP +as IN B-PP +overtime NN B-NP +pay NN I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +Rohm NNP B-NP +& CC I-NP +Haas NNP I-NP +net NN I-NP +totaled VBD B-VP +$ $ B-NP +155 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +2.33 CD I-NP +a DT B-NP +share NN I-NP +, , O +down RB B-ADVP +17 CD B-NP +% NN I-NP +from IN B-PP +$ $ B-NP +187.8 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +2.82 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Sales NNS B-NP +rose VBD B-VP +5.2 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +2.04 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +1.94 CD I-NP +billion CD I-NP +the DT B-NP +previous JJ I-NP +year NN I-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +, , O +Rohm NNP B-NP +& CC I-NP +Haas NNP I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +33 CD I-NP +a DT B-NP +share NN I-NP +, , O +down RB B-ADVP +$ $ B-NP +1.75 CD I-NP +. . O + +Michael NNP B-NP +A. NNP I-NP +Gaskin NNP I-NP +, , O +55 NN B-NP +years NNS I-NP +old JJ B-ADJP +, , O +was VBD B-VP +named VBN I-VP +president NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +this DT B-NP +manufacturer NN I-NP +of IN B-PP +industrial JJ B-NP +robots NNS I-NP +, , O +succeeding VBG B-VP +Walter NNP B-NP +K. NNP I-NP +Weisel NNP I-NP +. . O + +Mr. NNP B-NP +Weisel NNP I-NP +, , O +49 CD B-NP +, , O +resigned VBD B-VP +as IN B-PP +president NN B-NP +and CC O +chief JJ B-NP +executive NN I-NP +and CC O +will MD B-VP +work VB I-VP +on IN B-PP +special JJ B-NP +projects NNS I-NP +, , O +said VBD B-VP +John NNP B-NP +J. NNP I-NP +Wallace NNP I-NP +, , O +chairman NN B-NP +. . O + +Mr. NNP B-NP +Gaskin NNP I-NP +formerly RB B-VP +was VBD I-VP +president NN B-NP +and CC O +chief JJ B-NP +executive NN I-NP +of IN B-PP +Taylor NNP B-NP +& CC I-NP +Gaskin NNP I-NP +Inc. NNP I-NP +and CC O +was VBD B-VP +a DT B-NP +director NN I-NP +of IN B-PP +Prab NNP B-NP +Robots NNP I-NP +since IN B-PP +1985 CD B-NP +. . O + +Stephen NNP B-NP +N. NNP I-NP +Wertheimer NNP I-NP +was VBD B-VP +named VBN I-VP +managing VBG B-NP +director NN I-NP +and CC O +group NN B-NP +head NN I-NP +of IN B-PP +investment NN B-NP +banking NN I-NP +in IN B-PP +Asia NNP B-NP +, , O +based VBN B-VP +in IN B-PP +Tokyo NNP B-NP +. . O + +Mr. NNP B-NP +Wertheimer NNP I-NP +, , O +38 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +had VBD B-VP +been VBN I-VP +a DT B-NP +first JJ I-NP +vice NN I-NP +president NN I-NP +in IN B-PP +the DT B-NP +industrial JJ I-NP +group NN I-NP +in IN B-PP +investment NN B-NP +banking NN I-NP +. . O + +He PRP B-NP +succeeds VBZ B-VP +Everett NNP B-NP +Meyers NNP I-NP +, , O +who WP B-NP +resigned VBD B-VP +in IN B-PP +May NNP B-NP +. . O + +This DT B-NP +is VBZ B-VP +written VBN I-VP +to TO B-VP +correct VB I-VP +a DT B-NP +misquotation NN I-NP +in IN B-PP +your PRP$ B-NP +Oct. NNP I-NP +3 CD I-NP +article NN I-NP +`` `` O +Deaths NNP B-NP +From IN B-PP +Advanced NNP B-NP +Colon NNP I-NP +Cancer NNP I-NP +Can MD B-VP +Be VB I-VP +Reduced NNP I-VP +by IN B-PP +Using VBG B-VP +Two CD B-NP +Drugs NNS I-NP +. . O +'' '' O + +In IN B-PP +this DT B-NP +article NN I-NP +, , O +I PRP B-NP +was VBD B-VP +alleged VBN I-VP +to TO I-VP +have VB I-VP +said VBD I-VP +, , O +`` `` O +Any DT B-NP +patient NN I-NP +with IN B-PP +high-risk JJ B-NP +colon NN I-NP +cancer NN I-NP +is VBZ B-VP +really RB I-VP +getting VBG I-VP +short JJ B-NP +shrift NN I-NP +if IN B-SBAR +he PRP B-NP +'s VBZ B-VP +not RB I-VP +getting VBG I-VP +this DT B-NP +therapy NN I-NP +. . O +'' '' O + +I PRP B-NP +did VBD B-VP +n't RB I-VP +say VB I-VP +this DT B-NP +, , O +and CC O +I PRP B-NP +'m VBP B-VP +totally RB I-VP +opposed VBN I-VP +to TO B-PP +the DT B-NP +philosophy NN I-NP +expressed VBN B-VP +by IN B-PP +the DT B-NP +quote NN I-NP +. . O + +I PRP B-NP +have VBP B-VP +not RB I-VP +offered VBN I-VP +and CC O +will MD B-VP +not RB I-VP +offer VB I-VP +routine JJ B-NP +therapy NN I-NP +with IN B-PP +the DT B-NP +two CD I-NP +drugs NNS I-NP +, , O +levamisole NN B-NP +and CC I-NP +5-fluorouracil JJ I-NP +, , O +to TO B-PP +any DT B-NP +of IN B-PP +my PRP$ B-NP +colon-cancer NN I-NP +patients NNS I-NP +. . O + +With IN B-PP +this DT B-NP +treatment NN I-NP +we PRP B-NP +have VBP B-VP +reduced VBN I-VP +deaths NNS B-NP +in IN B-PP +high-risk JJ B-NP +colon NN I-NP +cancer NN I-NP +by IN B-PP +one-third NN B-NP +-- : O +but CC O +this DT B-NP +leaves VBZ B-VP +the DT B-NP +two-thirds NNS I-NP +who WP B-NP +are VBP B-VP +dying VBG I-VP +of IN B-PP +cancer NN B-NP +. . O + +This DT B-NP +is VBZ B-VP +not RB O +nearly RB B-ADJP +good JJ I-ADJP +enough RB I-ADJP +. . O + +I PRP B-NP +believe VBP B-VP +any DT B-NP +physician NN I-NP +who WP B-NP +truly RB B-ADVP +cares VBZ B-VP +about IN B-PP +cancer NN B-NP +patients NNS I-NP +, , O +both DT B-NP +today NN I-NP +and CC I-NP +tomorrow NN I-NP +, , O +should MD B-VP +offer VB I-VP +the DT B-NP +hope NN I-NP +of IN B-PP +something NN B-NP +better JJR B-ADJP +than IN B-PP +that DT B-NP +. . O + +My PRP$ B-NP +statement NN I-NP +, , O +read VB B-VP +verbatim RB B-ADVP +from IN B-PP +a DT B-NP +printed VBN I-NP +text NN I-NP +available JJ B-ADJP +to TO B-PP +all DT B-NP +reporters NNS I-NP +attending VBG B-VP +the DT B-NP +National NNP I-NP +Cancer NNP I-NP +Institute NNP I-NP +news NN I-NP +conference NN I-NP +, , O +was VBD B-VP +the DT B-NP +following VBG I-NP +: : O +`` `` O +New NNP B-NP +clinical JJ I-NP +trials NNS I-NP +are VBP B-VP +already RB B-ADVP +in IN B-PP +operation NN B-NP +seeking VBG B-VP +to TO I-VP +improve VB I-VP +these DT B-NP +results NNS I-NP +. . O + +These DT B-NP +research NN I-NP +protocols NNS I-NP +offer VBP B-VP +to TO B-PP +the DT B-NP +patient NN I-NP +not RB O +only RB O +the DT B-NP +very RB I-NP +best JJS I-NP +therapy NN I-NP +which WDT B-NP +we PRP B-NP +have VBP B-VP +established VBN I-VP +today NN B-NP +but CC B-NP +also RB I-NP +the DT B-NP +hope NN I-NP +of IN B-PP +something NN B-NP +still RB B-ADJP +better JJR I-ADJP +. . O + +I PRP B-NP +feel VBP B-VP +any DT B-NP +patient NN I-NP +with IN B-PP +high-risk JJ B-NP +cancer NN I-NP +is VBZ B-VP +getting VBG I-VP +short JJ B-NP +shrift NN I-NP +if IN B-SBAR +he PRP B-NP +is VBZ B-VP +not RB I-VP +offered VBN I-VP +this DT B-NP +opportunity NN I-NP +. . O +'' '' O + +We PRP B-NP +have VBP B-VP +very RB B-NP +exciting JJ I-NP +prospects NNS I-NP +for IN B-PP +far RB B-NP +more RBR I-NP +impressive JJ I-NP +advances NNS I-NP +in IN B-PP +the DT B-NP +treatment NN I-NP +of IN B-PP +colon NN B-NP +cancer NN I-NP +during IN B-PP +the DT B-NP +years NNS I-NP +immediately RB B-ADJP +ahead RB I-ADJP +. . O + +This DT B-NP +hope NN I-NP +, , O +however RB B-ADVP +, , O +will MD B-VP +never RB I-VP +be VB I-VP +realized VBN I-VP +if IN B-SBAR +we PRP B-NP +use VBP B-VP +levamisole NN B-NP +and CC I-NP +5-fluorouracil JJ I-NP +as IN B-PP +a DT B-NP +stopping VBG I-NP +point NN I-NP +. . O + +Charles NNP B-NP +G. NNP I-NP +Moertel NNP I-NP +M.D NNP I-NP +. . O +Mayo NNP B-NP +Clinic NNP I-NP +Rochester NNP B-NP +, , O +Minn NNP B-NP +. . O + +The DT B-NP +oil NN I-NP +and CC I-NP +auto NN I-NP +industries NNS I-NP +, , O +united VBN B-VP +in IN B-PP +their PRP$ B-NP +dislike NN I-NP +of IN B-PP +President NNP B-NP +Bush NNP I-NP +'s POS B-NP +proposal NN I-NP +for IN B-PP +cars NNS B-NP +that WDT B-NP +run VBP B-VP +on IN B-PP +alternative NN B-NP +fuels NNS I-NP +, , O +announced VBD B-VP +a DT B-NP +joint JJ I-NP +research NN I-NP +program NN I-NP +that WDT B-NP +could MD B-VP +turn VB I-VP +up IN B-PRT +a DT B-NP +cleaner-burning JJ I-NP +gasoline NN I-NP +. . O + +Officials NNS B-NP +of IN B-PP +the DT B-NP +Big NNP I-NP +Three CD I-NP +auto NN I-NP +makers NNS I-NP +and CC O +14 CD B-NP +petroleum NN I-NP +companies NNS I-NP +said VBD B-VP +they PRP B-NP +are VBP B-VP +setting VBG I-VP +out IN B-PRT +to TO B-VP +find VB I-VP +the DT B-NP +most RBS I-NP +cost-effective JJ I-NP +fuel NN I-NP +for IN B-PP +reducing VBG B-VP +cities NNS B-NP +' POS B-NP +air-pollution NN I-NP +problems NNS I-NP +, , O +with IN B-PP +no DT B-NP +bias NN I-NP +toward IN B-PP +any DT B-NP +fuel NN I-NP +in IN B-PP +particular NN B-NP +. . O + +However RB B-ADVP +, , O +their PRP$ B-NP +search NN I-NP +notably RB B-ADVP +wo MD B-VP +n't RB I-VP +include VB I-VP +natural JJ B-NP +gas NN I-NP +or CC O +pure JJ B-NP +methanol NN I-NP +-- : O +the DT B-NP +two CD I-NP +front-running JJ I-NP +alternative NN I-NP +fuels NNS I-NP +-- : O +in IN B-PP +tests NNS B-NP +to TO B-VP +be VB I-VP +completed VBN I-VP +by IN B-PP +next JJ B-NP +summer NN I-NP +. . O + +Instead RB B-ADVP +, , O +the DT B-NP +tests NNS I-NP +will MD B-VP +focus VB I-VP +heavily RB B-ADVP +on IN B-PP +new JJ B-NP +blends NNS I-NP +of IN B-PP +gasoline NN B-NP +, , O +which WDT B-NP +are VBP B-VP +still RB B-ADVP +undeveloped JJ B-ADJP +but CC O +which WDT B-NP +the DT B-NP +petroleum NN I-NP +industry NN I-NP +has VBZ B-VP +been VBN I-VP +touting VBG I-VP +as IN B-PP +a DT B-NP +solution NN I-NP +for IN B-PP +automobile NN B-NP +pollution NN I-NP +that WDT B-NP +is VBZ B-VP +choking VBG I-VP +urban JJ B-NP +areas NNS I-NP +. . O + +Environmentalists NNS B-NP +criticized VBD B-VP +the DT B-NP +program NN I-NP +as IN B-PP +merely RB B-NP +a DT I-NP +public-relations NNS I-NP +attempt VBP I-NP +to TO B-VP +head VB I-VP +off IN B-PRT +a DT B-NP +White NNP I-NP +House NNP I-NP +proposal NN I-NP +to TO B-VP +require VB I-VP +a DT B-NP +million CD I-NP +cars NNS I-NP +a DT B-NP +year NN I-NP +that WDT B-NP +run VBP B-VP +on IN B-PP +cleaner-burning JJ B-NP +fuels NNS I-NP +by IN B-PP +1997 CD B-NP +. . O + +While IN B-SBAR +major JJ B-NP +oil NN I-NP +companies NNS I-NP +have VBP B-VP +been VBN I-VP +experimenting VBG I-VP +with IN B-PP +cleaner-burning JJ B-NP +gasoline NN I-NP +blends NNS I-NP +for IN B-PP +years NNS B-NP +, , O +only RB B-NP +Atlantic NNP I-NP +Richfield NNP I-NP +Co. NNP I-NP +is VBZ B-VP +now RB I-VP +marketing VBG I-VP +a DT B-NP +lower-emission NN I-NP +gasoline NN I-NP +for IN B-PP +older JJR B-NP +cars NNS I-NP +currently RB B-VP +running VBG I-VP +on IN B-PP +leaded JJ B-NP +fuel NN I-NP +. . O + +The DT B-NP +initial JJ I-NP +$ $ I-NP +11 CD I-NP +million CD I-NP +research NN I-NP +program NN I-NP +will MD B-VP +conduct VB I-VP +the DT B-NP +most RBS I-NP +extensive JJ I-NP +testing NN I-NP +to TO B-PP +date VB B-NP +of IN B-PP +reformulated VBN B-NP +gasolines NNS I-NP +, , O +said VBD B-VP +Joe NNP B-NP +Colucci NNP I-NP +, , O +head NN B-NP +of IN B-PP +fuels NNS B-NP +and CC I-NP +lubricants NNS I-NP +at IN B-PP +General NNP B-NP +Motors NNPS I-NP +Corp. NNP I-NP +research NN I-NP +laboratories NNS I-NP +. . O + +It PRP B-NP +will MD B-VP +compare VB I-VP +21 CD B-NP +different JJ I-NP +blends NNS I-NP +of IN B-PP +gasolines NNS B-NP +with IN B-PP +three CD B-NP +mixtures NNS I-NP +of IN B-PP +up IN B-NP +to TO I-NP +85 CD I-NP +% NN I-NP +methanol NN I-NP +. . O + +A DT B-NP +second JJ I-NP +phase NN I-NP +of IN B-PP +research NN B-NP +, , O +which WDT B-NP +is VBZ B-VP +still RB I-VP +being VBG I-VP +planned VBN I-VP +, , O +will MD B-VP +test VB I-VP +reformulated VBN B-NP +gasolines NNS I-NP +on IN B-PP +newer JJR B-NP +engine NN I-NP +technologies NNS I-NP +now RB B-ADVP +being VBG B-VP +developed VBN I-VP +for IN B-PP +use NN B-NP +in IN B-PP +1992 CD B-NP +or CC I-NP +1993 CD I-NP +cars NNS I-NP +. . O + +There EX B-NP +was VBD B-VP +no DT B-NP +cost NN I-NP +estimate NN I-NP +for IN B-PP +the DT B-NP +second JJ I-NP +phase NN I-NP +. . O + +`` `` O +The DT B-NP +whole JJ I-NP +idea NN I-NP +here RB I-NP +is VBZ B-VP +the DT B-NP +automobile NN I-NP +and CC I-NP +oil NN I-NP +companies NNS I-NP +have VBP B-VP +joint JJ B-NP +customers NNS I-NP +, , O +'' '' O +said VBD B-VP +Keith NNP B-NP +McHenry NNP I-NP +, , O +a DT B-NP +senior JJ I-NP +vice NN I-NP +president NN I-NP +of IN B-PP +technology NN B-NP +at IN B-PP +Amoco NNP B-NP +Corp NNP I-NP +. . O + +`` `` O +And CC O +we PRP B-NP +are VBP B-VP +looking VBG I-VP +for IN B-PP +the DT B-NP +most RBS I-NP +cost-effective JJ I-NP +way NN I-NP +to TO B-VP +clean VB I-VP +up IN B-PRT +the DT B-NP +air NN I-NP +. . O +'' '' O + +But CC O +David NNP B-NP +Hawkins NNP I-NP +, , O +an DT B-NP +environmental JJ I-NP +lawyer NN I-NP +with IN B-PP +the DT B-NP +Natural NNP I-NP +Resources NNP I-NP +Defense NNP I-NP +Council NNP I-NP +, , O +said VBD B-VP +the DT B-NP +research NN I-NP +appears VBZ B-VP +merely RB I-VP +to TO I-VP +be VB I-VP +a DT B-NP +way NN I-NP +to TO B-VP +promote VB I-VP +reformulated VBN B-NP +gasoline NN I-NP +. . O + +Oil NNP B-NP +and CC I-NP +auto NN I-NP +companies NNS I-NP +supported VBD B-VP +a DT B-NP +move NN I-NP +on IN B-PP +Capitol NNP B-NP +Hill NNP I-NP +last JJ B-NP +week NN I-NP +to TO B-VP +gut VB I-VP +Mr. NNP B-NP +Bush NNP I-NP +'s POS B-NP +plans NNS I-NP +to TO B-VP +require VB I-VP +auto NN B-NP +makers NNS I-NP +to TO B-VP +begin VB I-VP +selling VBG I-VP +alternative-fueled JJ B-NP +cars NNS I-NP +by IN B-PP +1995 CD B-NP +. . O + +Instead RB B-ADVP +, , O +a DT B-NP +House NNP I-NP +subcommittee NN I-NP +adopted VBD B-VP +a DT B-NP +clean-fuels NNS I-NP +program VBP I-NP +that WDT B-NP +specifically RB B-ADVP +mentions VBZ B-VP +reformulated VBN B-NP +gasoline NN I-NP +as IN B-PP +an DT B-NP +alternative NN I-NP +. . O + +The DT B-NP +Bush NNP I-NP +administration NN I-NP +has VBZ B-VP +said VBD I-VP +it PRP B-NP +will MD B-VP +try VB I-VP +to TO I-VP +resurrect VB I-VP +its PRP$ B-NP +plan NN I-NP +when WRB B-ADVP +the DT B-NP +House NNP I-NP +Energy NNP I-NP +and CC I-NP +Commerce NNP I-NP +Committee NNP I-NP +takes VBZ B-VP +up IN B-PRT +a DT B-NP +comprehensive JJ I-NP +clean-air JJ I-NP +bill NN I-NP +. . O + +William NNP B-NP +Seidman NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +the DT B-NP +Federal NNP I-NP +Deposit NNP I-NP +Insurance NNP I-NP +Corp. NNP I-NP +, , O +said VBD B-VP +Lincoln NNP B-NP +Savings NNP I-NP +& CC I-NP +Loan NNP I-NP +Association NNP I-NP +should MD B-VP +have VB I-VP +been VBN I-VP +seized VBN I-VP +by IN B-PP +the DT B-NP +government NN I-NP +in IN B-PP +1986 CD B-NP +to TO B-VP +contain VB I-VP +losses NNS B-NP +that IN B-NP +he PRP B-NP +estimated VBD B-VP +will MD B-VP +cost VB I-VP +taxpayers NNS B-NP +as RB B-NP +much JJ I-NP +as IN I-NP +$ $ I-NP +2 CD I-NP +billion CD I-NP +. . O + +Mr. NNP B-NP +Seidman NNP I-NP +, , O +who WP B-NP +has VBZ B-VP +been VBN I-VP +the DT B-NP +nation NN I-NP +'s POS B-NP +top JJ I-NP +bank NN I-NP +regulator NN I-NP +, , O +inherited VBD B-VP +the DT B-NP +problems NNS I-NP +of IN B-PP +Lincoln NNP B-NP +, , O +based VBN B-VP +in IN B-PP +Irvine NNP B-NP +, , O +Calif. NNP B-NP +, , O +after IN B-SBAR +his PRP$ B-NP +regulatory JJ I-NP +role NN I-NP +was VBD B-VP +expanded VBN I-VP +by IN B-PP +the DT B-NP +new JJ I-NP +savings-and-loan JJ I-NP +bailout NN I-NP +law NN I-NP +. . O + +He PRP B-NP +made VBD B-VP +his PRP$ B-NP +comments NNS I-NP +before IN B-PP +House NNP B-NP +Banking NNP I-NP +Committee NNP I-NP +hearings NNS I-NP +to TO B-VP +investigate VB I-VP +what WP B-NP +appears VBZ B-VP +to TO I-VP +be VB I-VP +the DT B-NP +biggest JJS I-NP +thrift NN I-NP +disaster NN I-NP +in IN B-PP +a DT B-NP +scandal-ridden JJ I-NP +industry NN I-NP +. . O + +The DT B-NP +inquiry NN I-NP +also RB B-ADVP +will MD B-VP +cover VB I-VP +the DT B-NP +actions NNS I-NP +of IN B-PP +Charles NNP B-NP +Keating NNP I-NP +Jr. NNP I-NP +, , O +who WP B-NP +is VBZ B-VP +chairman NN B-NP +of IN B-PP +American NNP B-NP +Continental NNP I-NP +Corp. NNP I-NP +, , O +Lincoln NNP B-NP +'s POS B-NP +parent NN I-NP +, , O +and CC O +who WP B-NP +contributed VBD B-VP +heavily RB B-ADVP +to TO B-PP +several JJ B-NP +U.S. NNP I-NP +senators NNS I-NP +. . O + +Mr. NNP B-NP +Seidman NNP I-NP +told VBD B-VP +the DT B-NP +committee NN I-NP +that IN B-SBAR +the DT B-NP +Resolution NNP I-NP +Trust NNP I-NP +Corp. NNP I-NP +, , O +the DT B-NP +agency NN I-NP +created VBN B-VP +to TO B-VP +sell VB I-VP +sick JJ B-NP +thrifts NNS I-NP +, , O +has VBZ B-VP +studied VBN I-VP +Lincoln NNP B-NP +'s POS B-NP +examination NN I-NP +reports NNS I-NP +by IN B-PP +former JJ B-NP +regulators NNS I-NP +dating VBG B-VP +back RB B-ADVP +to TO B-PP +1986 CD B-NP +. . O + +`` `` O +My PRP$ B-NP +staff NN I-NP +indicated VBD B-VP +that WDT B-SBAR +had VBD O +we PRP B-NP +made VBD B-VP +such JJ B-NP +findings NNS I-NP +in IN B-PP +one CD B-NP +of IN B-PP +our PRP$ B-NP +own JJ I-NP +institutions NNS I-NP +, , O +we PRP B-NP +would MD B-VP +have VB I-VP +sought VBN I-VP +an DT B-NP +immediate JJ I-NP +cease-and-desist JJ I-NP +order NN I-NP +to TO B-VP +stop VB I-VP +the DT B-NP +hazardous JJ I-NP +operations NNS I-NP +, , O +'' '' O +Mr. NNP B-NP +Seidman NNP I-NP +said VBD B-VP +. . O + +When WRB B-ADVP +Lincoln NNP B-NP +was VBD B-VP +seized VBN I-VP +by IN B-PP +the DT B-NP +government NN I-NP +, , O +for IN B-PP +example NN B-NP +, , O +15 CD B-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +loans NNS I-NP +, , O +or CC O +$ $ B-NP +250 CD I-NP +million CD I-NP +, , O +were VBD B-VP +to TO B-PP +borrowers NNS B-NP +who WP B-NP +were VBD B-VP +buying VBG I-VP +real JJ B-NP +estate NN I-NP +from IN B-PP +one CD B-NP +of IN B-PP +American NNP B-NP +Continental NNP I-NP +'s POS B-NP +50 CD I-NP +other JJ I-NP +subsidiaries NNS I-NP +, , O +according VBG B-PP +to TO B-PP +Mr. NNP B-NP +Seidman NNP I-NP +. . O + +But CC O +the DT B-NP +government NN I-NP +did VBD B-VP +n't RB I-VP +step VB I-VP +in IN B-ADVP +until IN B-PP +six CD B-NP +months NNS I-NP +ago RB B-ADVP +, , O +when WRB B-ADVP +thrift NN B-NP +officials NNS I-NP +put VBP B-VP +Lincoln NNP B-NP +into IN B-PP +conservatorship NN B-NP +-- : O +the DT B-NP +day NN I-NP +after IN B-SBAR +American NNP B-NP +Continental NNP I-NP +filed VBD B-VP +for IN B-PP +Chapter NN B-NP +11 CD I-NP +bankruptcy NN I-NP +protection NN I-NP +from IN B-PP +creditors NNS B-NP +. . O + +The DT B-NP +bankruptcy NN I-NP +filing NN I-NP +, , O +the DT B-NP +government NN I-NP +has VBZ B-VP +charged VBN I-VP +in IN B-PP +a DT B-NP +$ $ I-NP +1.1 CD I-NP +billion CD I-NP +civil JJ I-NP +lawsuit NN I-NP +, , O +was VBD B-VP +part NN B-NP +of IN B-PP +a DT B-NP +pattern NN I-NP +to TO B-VP +shift VB I-VP +insured VBN B-NP +deposits NNS I-NP +to TO B-PP +the DT B-NP +parent NN I-NP +company NN I-NP +, , O +which WDT B-NP +used VBD B-VP +the DT B-NP +deposits NNS I-NP +as IN B-PP +a DT B-NP +cache NN I-NP +for IN B-PP +real-estate NN B-NP +deals NNS I-NP +. . O + +The DT B-NP +deposits NNS I-NP +that WDT B-NP +have VBP B-VP +been VBN I-VP +transferred VBN I-VP +to TO B-PP +other JJ B-NP +subsidiaries NNS I-NP +are VBP B-VP +now RB B-ADVP +under IN B-PP +the DT B-NP +jurisdiction NN I-NP +of IN B-PP +the DT B-NP +bankruptcy NN I-NP +court NN I-NP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +it PRP B-NP +'s VBZ B-VP +fairly RB B-ADJP +clear JJ I-ADJP +-LCB- ( O +Mr. NNP B-NP +Keating NNP I-NP +-RCB- ) O +knew VBD B-VP +, , O +'' '' O +that IN B-SBAR +regulators NNS B-NP +were VBD B-VP +set VBN I-VP +to TO I-VP +seize VB I-VP +Lincoln NNP B-NP +, , O +Mr. NNP B-NP +Seidman NNP I-NP +said VBD B-VP +. . O + +Further JJ B-NP +investigation NN I-NP +, , O +he PRP B-NP +said VBD B-VP +, , O +may MD B-VP +result VB I-VP +in IN B-PP +further JJ B-NP +actions NNS I-NP +against IN B-PP +Lincoln NNP B-NP +'s POS B-NP +executives NNS I-NP +, , O +said VBD B-VP +Mr. NNP B-NP +Seidman NNP I-NP +, , O +`` `` O +including VBG B-PP +fraud NN B-NP +actions NNS I-NP +. . O +'' '' O + +Mr. NNP B-NP +Keating NNP I-NP +, , O +for IN B-PP +his PRP$ B-NP +part NN I-NP +, , O +has VBZ B-VP +filed VBN I-VP +suit NN B-NP +alleging VBG B-VP +that IN B-SBAR +regulators NNS B-NP +unlawfully RB B-VP +seized VBN I-VP +the DT B-NP +thrift NN I-NP +. . O + +Leonard NNP B-NP +Bickwit NNP I-NP +, , O +an DT B-NP +attorney NN I-NP +in IN B-PP +Washington NNP B-NP +for IN B-PP +Mr. NNP B-NP +Keating NNP I-NP +, , O +declined VBD B-VP +to TO I-VP +comment VB I-VP +on IN B-PP +the DT B-NP +hearings NNS I-NP +, , O +except VB B-SBAR +to TO B-VP +say VB I-VP +, , O +`` `` O +We PRP B-NP +will MD B-VP +be VB I-VP +responding VBG I-VP +comprehensively RB B-ADVP +in IN B-PP +several JJ B-NP +forums NNS I-NP +to TO B-PP +each DT B-NP +of IN B-PP +these DT B-NP +allegations NNS I-NP +at IN B-PP +the DT B-NP +appropriate JJ I-NP +time NN I-NP +. . O +'' '' O + +Lincoln NNP B-NP +'s POS B-NP +treatment NN I-NP +by IN B-PP +former JJ B-NP +thrift NN I-NP +regulators NNS I-NP +, , O +in IN B-PP +an DT B-NP +agency NN I-NP +disbanded VBN B-VP +by IN B-PP +the DT B-NP +new JJ I-NP +law NN I-NP +, , O +has VBZ B-VP +proved VBN I-VP +embarrassing JJ B-ADJP +for IN B-PP +five CD B-NP +senators NNS I-NP +who WP B-NP +received VBD B-VP +thousands NNS B-NP +of IN B-PP +dollars NNS B-NP +in IN B-PP +campaign NN B-NP +contributions NNS I-NP +from IN B-PP +Mr. NNP B-NP +Keating NNP I-NP +. . O + +Mr. NNP B-NP +Seidman NNP I-NP +said VBD B-VP +yesterday NN B-NP +, , O +for IN B-PP +example NN B-NP +, , O +that IN B-SBAR +Sen. NNP B-NP +Dennis NNP I-NP +DeConcini NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Ariz. NNP B-NP +-RRB- ) O +, , O +who WP B-NP +received VBD B-VP +$ $ B-NP +48,100 CD I-NP +in IN B-PP +contributions NNS B-NP +from IN B-PP +Mr. NNP B-NP +Keating NNP I-NP +, , O +phoned VBD B-VP +Mr. NNP B-NP +Seidman NNP I-NP +to TO B-VP +request VB I-VP +that IN B-SBAR +he PRP B-NP +push VBP B-VP +for IN B-PP +a DT B-NP +sale NN I-NP +of IN B-PP +Lincoln NNP B-NP +before IN B-SBAR +it PRP B-NP +would MD B-VP +be VB I-VP +seized VBN I-VP +. . O + +After IN B-SBAR +the DT B-NP +government NN I-NP +lawsuit NN I-NP +was VBD B-VP +filed VBN I-VP +against IN B-PP +Lincoln NNP B-NP +, , O +Sen. NNP B-NP +DeConcini NNP I-NP +returned VBD B-VP +the DT B-NP +campaign NN I-NP +contributions NNS I-NP +. . O + +The DT B-NP +senator NN I-NP +'s POS B-NP +spokesman NN I-NP +said VBD B-VP +yesterday NN B-NP +that IN B-SBAR +he PRP B-NP +pushed VBD B-VP +for IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +Lincoln NNP B-NP +because IN B-SBAR +`` `` O +hundreds NNS B-NP +of IN B-PP +Arizona NNP B-NP +jobs NNS I-NP +-LCB- ( O +at IN B-PP +Lincoln NNP B-NP +-RCB- ) O +were VBD B-VP +on IN B-PP +the DT B-NP +line NN I-NP +. . O +'' '' O + +Senate NNP B-NP +Banking NNP I-NP +Committee NNP I-NP +Chairman NNP I-NP +Donald NNP I-NP +Riegle NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Mich NNP B-NP +. . O +-RRB- ) O +has VBZ B-VP +also RB I-VP +returned VBN I-VP +contributions NNS B-NP +he PRP B-NP +received VBD B-VP +from IN B-PP +Mr. NNP B-NP +Keating NNP I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Sens. NNP O +John NNP O +Glenn NNP O +-LRB- ( O +D. NNP B-NP +, , O +Ohio NNP B-NP +-RRB- ) O +, , O +John NNP O +McCain NNP O +, , O +-LRB- ( O +R. NNP B-NP +, , O +Ariz. NNP B-NP +-RRB- ) O +and CC B-NP +Alan NNP I-NP +Cranston NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Calif. NNP B-NP +-RRB- ) O +also RB B-ADVP +received VBD B-VP +substantial JJ B-NP +contributions NNS I-NP +from IN B-PP +Mr. NNP B-NP +Keating NNP I-NP +and CC O +sought VBD B-VP +to TO I-VP +intervene VB I-VP +on IN B-PP +behalf NN B-NP +of IN B-PP +Lincoln NNP B-NP +. . O + +House NNP B-NP +Banking NNP I-NP +Committee NNP I-NP +Chairman NNP I-NP +Henry NNP I-NP +Gonzalez NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Texas NNP B-NP +-RRB- ) O +said VBD B-VP +Sen. NNP B-NP +Cranston NNP I-NP +volunteered VBD B-VP +to TO I-VP +appear VB I-VP +before IN B-PP +the DT B-NP +House NNP I-NP +committee NN I-NP +, , O +if IN B-SBAR +necessary JJ B-ADJP +. . O + +But CC O +a DT B-NP +committee NN I-NP +staff NN I-NP +member NN I-NP +said VBD B-VP +the DT B-NP +panel NN I-NP +is VBZ B-VP +unlikely JJ B-ADJP +to TO B-VP +pursue VB I-VP +closely RB B-ADVP +the DT B-NP +role NN I-NP +of IN B-PP +the DT B-NP +senators NNS I-NP +. . O + +At IN B-PP +the DT B-NP +hearing NN I-NP +, , O +Mr. NNP B-NP +Seidman NNP I-NP +said VBD B-VP +the DT B-NP +RTC NNP I-NP +has VBZ B-VP +already RB I-VP +pumped VBN I-VP +$ $ B-NP +729 CD I-NP +million CD I-NP +into IN B-PP +Lincoln NNP B-NP +for IN B-PP +liquidity NN B-NP +. . O + +He PRP B-NP +also RB B-ADVP +held VBD B-VP +out IN B-PRT +little JJ B-NP +hope NN I-NP +of IN B-PP +restitution NN B-NP +for IN B-PP +purchasers NNS B-NP +of IN B-PP +$ $ B-NP +225 CD I-NP +million CD I-NP +in IN B-PP +American NNP B-NP +Continental NNP I-NP +subordinated VBD I-NP +debt NN I-NP +. . O + +Some DT B-NP +of IN B-PP +those DT B-NP +debtholders NNS I-NP +have VBP B-VP +filed VBN I-VP +a DT B-NP +suit NN I-NP +, , O +saying VBG B-VP +they PRP B-NP +believed VBD B-VP +they PRP B-NP +were VBD B-VP +buying VBG I-VP +government-insured JJ B-NP +certificates NNS I-NP +of IN B-PP +deposit NN B-NP +. . O + +`` `` O +We PRP B-NP +have VBP B-VP +no DT B-NP +plans NNS I-NP +at IN B-PP +this DT B-NP +time NN I-NP +to TO B-VP +pay VB I-VP +off IN B-PRT +those DT B-NP +notes NNS I-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +Eastern NNP B-NP +Airlines NNPS I-NP +' POS B-NP +creditors NNS I-NP +committee NN I-NP +, , O +unhappy JJ B-ADJP +with IN B-PP +the DT B-NP +carrier NN I-NP +'s POS B-NP +plans NNS I-NP +for IN B-PP +emerging VBG B-VP +from IN B-PP +bankruptcy-law NN B-NP +proceedings NNS I-NP +, , O +asked VBD B-VP +its PRP$ B-NP +own JJ I-NP +experts NNS I-NP +to TO B-VP +devise VB I-VP +alternate JJ B-NP +approaches NNS I-NP +to TO B-PP +a DT B-NP +reorganization NN I-NP +. . O + +Representatives NNS B-NP +of IN B-PP +the DT B-NP +accounting NN I-NP +firm NN I-NP +of IN B-PP +Ernst NNP B-NP +& CC I-NP +Young NNP I-NP +and CC O +the DT B-NP +securities NNS I-NP +firm NN I-NP +of IN B-PP +Goldman NNP B-NP +, , I-NP +Sachs NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +hired VBN B-VP +by IN B-PP +creditors NNS B-NP +to TO B-VP +consult VB I-VP +on IN B-PP +Eastern NNP B-NP +'s POS B-NP +financial JJ I-NP +plans NNS I-NP +, , O +told VBD B-VP +the DT B-NP +committee NN I-NP +in IN B-PP +a DT B-NP +private JJ I-NP +meeting NN I-NP +yesterday NN B-NP +that IN B-SBAR +Eastern NNP B-NP +'s POS B-NP +latest JJS I-NP +plan NN I-NP +to TO B-VP +emerge VB I-VP +from IN B-PP +bankruptcy-law NN B-NP +protection NN I-NP +is VBZ B-VP +far RB B-ADJP +riskier JJR I-ADJP +than IN B-PP +an DT B-NP +earlier RBR I-NP +one CD I-NP +which WDT B-NP +won VBD B-VP +the DT B-NP +creditors NNS I-NP +' POS B-NP +approval NN I-NP +. . O + +According VBG B-PP +to TO B-PP +one CD B-NP +person NN I-NP +present JJ B-ADJP +at IN B-PP +the DT B-NP +meeting NN I-NP +, , O +Eastern NNP B-NP +'s POS B-NP +new JJ I-NP +plan NN I-NP +is VBZ B-VP +financially RB B-ADJP +`` `` I-ADJP +overly RB I-ADJP +optimistic JJ I-ADJP +. . O +'' '' O + +Asked VBN B-VP +about IN B-PP +the DT B-NP +consultants NNS I-NP +' POS B-NP +reports NNS I-NP +, , O +an DT B-NP +Eastern NNP I-NP +spokeswoman NN I-NP +said VBD B-VP +`` `` O +we PRP B-NP +totally RB B-VP +disagree VBP I-VP +. . O +'' '' O + +She PRP B-NP +said VBD B-VP +they PRP B-NP +have VBP B-VP +`` `` O +oversimplified VBN B-VP +and CC O +made VBD B-VP +some DT B-NP +erroneous JJ I-NP +assumptions NNS I-NP +that WDT B-NP +make VBP B-VP +their PRP$ B-NP +analysis NN I-NP +completely RB B-ADJP +off-base JJ I-ADJP +. . O +'' '' O + +At IN B-PP +a DT B-NP +later JJ I-NP +news NN I-NP +conference NN I-NP +here RB I-NP +, , O +Frank NNP B-NP +Lorenzo NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +Eastern NNP B-NP +'s POS B-NP +parent NN I-NP +Texas NNP I-NP +Air NNP I-NP +Corp. NNP I-NP +, , O +said VBD B-VP +Eastern NNP B-NP +was VBD B-VP +exceeding VBG I-VP +its PRP$ B-NP +goals NNS I-NP +for IN B-PP +getting VBG B-VP +back RB B-ADVP +into IN B-PP +operation NN B-NP +and CC O +predicted VBD B-VP +it PRP B-NP +would MD B-VP +emerge VB I-VP +from IN B-PP +Chapter NN B-NP +11 CD I-NP +protection NN I-NP +from IN B-PP +creditors NNS B-NP +early JJ B-NP +next JJ I-NP +year NN I-NP +, , O +operating VBG B-VP +with IN B-PP +more JJR B-NP +service NN I-NP +than IN B-SBAR +it PRP B-NP +originally RB B-ADVP +had VBD B-VP +scheduled VBN I-VP +. . O + +He PRP B-NP +insisted VBD B-VP +, , O +as IN B-SBAR +he PRP B-NP +has VBZ B-VP +before RB B-ADVP +, , O +that IN B-SBAR +creditors NNS B-NP +would MD B-VP +be VB I-VP +paid VBN I-VP +in IN B-PP +full JJ B-ADJP +under IN B-PP +the DT B-NP +plan NN I-NP +. . O + +Mr. NNP B-NP +Lorenzo NNP I-NP +made VBD B-VP +no DT B-NP +mention NN I-NP +of IN B-PP +creditors NNS B-NP +' POS B-NP +negative JJ I-NP +response NN I-NP +to TO B-PP +his PRP$ B-NP +plan NN I-NP +. . O + +`` `` O +We PRP B-NP +'re VBP B-VP +in IN B-PP +the DT B-NP +process NN I-NP +of IN B-PP +discussing VBG B-VP +an DT B-NP +amended VBN I-NP +plan NN I-NP +with IN B-PP +the DT B-NP +creditors NNS I-NP +and CC O +anticipate VB B-VP +filing NN I-VP +that WDT B-NP +amended VBD I-NP +plan NN I-NP +shortly RB B-ADVP +, , O +'' '' O +Mr. NNP B-NP +Lorenzo NNP I-NP +told VBD B-VP +reporters NNS B-NP +. . O + +`` `` O +We PRP B-NP +'re VBP B-VP +meeting VBG I-VP +and CC I-VP +surpassing VBG I-VP +our PRP$ B-NP +goals NNS I-NP +, , O +'' '' O +he PRP B-NP +added VBD B-VP +. . O + +In IN B-PP +July NNP B-NP +, , O +Eastern NNP B-NP +and CC O +its PRP$ B-NP +creditors NNS I-NP +agreed VBD B-VP +on IN B-PP +a DT B-NP +reorganization NN I-NP +plan NN I-NP +that WDT B-NP +called VBD B-VP +for IN B-SBAR +Eastern NNP B-NP +to TO B-VP +sell VB I-VP +$ $ B-NP +1.8 CD I-NP +billion CD I-NP +in IN B-PP +assets NNS B-NP +and CC O +to TO B-VP +emerge VB I-VP +from IN B-PP +bankruptcy-law NN B-NP +protection NN I-NP +at IN B-PP +two-thirds NNS B-NP +its PRP$ I-NP +former JJ I-NP +size NN I-NP +. . O + +But CC O +after IN B-PP +selling VBG B-VP +off IN B-PRT +pieces NNS B-NP +such JJ B-PP +as IN I-PP +its PRP$ B-NP +East NNP I-NP +Coast NNP I-NP +shuttle NN I-NP +, , O +its PRP$ B-NP +Philadelphia NNP I-NP +hub NN I-NP +and CC O +various JJ B-NP +planes NNS I-NP +, , O +Eastern NNP B-NP +hit VBD B-VP +a DT B-NP +stumbling VBG I-NP +block NN I-NP +. . O + +It PRP B-NP +could MD B-VP +n't RB I-VP +sell VB I-VP +its PRP$ B-NP +South JJ I-NP +American JJ I-NP +routes NNS I-NP +, , O +one CD B-NP +of IN B-PP +the DT B-NP +major JJ I-NP +assets NNS I-NP +marked VBN B-VP +for IN B-PP +disposal NN B-NP +. . O + +Those DT B-NP +routes NNS I-NP +, , O +valued VBN B-VP +by IN B-PP +the DT B-NP +creditors NNS I-NP +' POS B-NP +professionals NNS I-NP +at IN B-PP +about RB B-NP +$ $ I-NP +400 CD I-NP +million CD I-NP +, , O +were VBD B-VP +to TO I-VP +be VB I-VP +sold VBN I-VP +to TO B-PP +AMR NNP B-NP +Corp. NNP I-NP +'s POS B-NP +American NNP I-NP +Airlines NNPS I-NP +. . O + +A DT B-NP +last-minute JJ I-NP +snag NN I-NP +in IN B-PP +negotiations NNS B-NP +with IN B-PP +AMR NNP B-NP +, , O +over IN B-PP +an DT B-NP +unrelated JJ I-NP +lawsuit NN I-NP +between IN B-PP +American NNP B-NP +and CC O +another DT B-NP +Texas NNP I-NP +Air NNP I-NP +unit NN I-NP +, , O +caused VBD B-VP +the DT B-NP +deal NN I-NP +to TO B-VP +collapse VB I-VP +. . O + +Eastern NNP B-NP +ultimately RB B-ADVP +decided VBD B-VP +it PRP B-NP +would MD B-VP +have VB I-VP +to TO I-VP +keep VB I-VP +and CC I-VP +operate VB I-VP +the DT B-NP +routes NNS I-NP +itself PRP B-NP +, , O +which WDT B-NP +would MD B-VP +leave VB I-VP +it PRP B-NP +with IN B-PP +less JJR B-NP +cash NN I-NP +for IN B-PP +its PRP$ B-NP +reorganization NN I-NP +. . O + +It PRP B-NP +also RB B-ADVP +would MD B-VP +leave VB I-VP +Eastern NNP B-NP +a DT B-NP +bigger JJR I-NP +carrier NN I-NP +than IN B-PP +the DT B-NP +scaled-down JJ I-NP +one CD I-NP +proposed VBN B-VP +under IN B-PP +the DT B-NP +initial JJ I-NP +plan NN I-NP +. . O + +Those DT B-NP +changes NNS I-NP +in IN B-PP +its PRP$ B-NP +condition NN I-NP +meant VBD B-VP +the DT B-NP +reorganization NN I-NP +plan NN I-NP +previously RB B-VP +presented VBD I-VP +to TO B-PP +creditors NNS B-NP +would MD B-VP +have VB I-VP +to TO I-VP +be VB I-VP +revamped VBN I-VP +. . O + +Since IN B-PP +then RB B-NP +, , O +Eastern NNP B-NP +has VBZ B-VP +been VBN I-VP +negotiating VBG I-VP +with IN B-PP +creditors NNS B-NP +over IN B-PP +revisions NNS B-NP +, , O +but CC O +the DT B-NP +creditors NNS I-NP +committee NN I-NP +has VBZ B-VP +been VBN I-VP +having VBG I-VP +problems NNS B-NP +with IN B-PP +the DT B-NP +revisions NNS I-NP +. . O + +The DT B-NP +committee NN I-NP +has VBZ B-VP +two CD B-NP +groups NNS I-NP +of IN B-PP +experts NNS B-NP +it PRP B-NP +calls VBZ B-VP +on IN B-PP +to TO B-VP +analyze VB I-VP +Eastern NNP B-NP +'s POS B-NP +plans NNS I-NP +. . O + +Both DT B-NP +said VBD B-VP +the DT B-NP +new JJ I-NP +plan NN I-NP +would MD B-VP +n't RB I-VP +work VB I-VP +. . O + +Ernst NNP B-NP +& CC I-NP +Young NNP I-NP +said VBD B-VP +Eastern NNP B-NP +'s POS B-NP +plans NNS I-NP +will MD B-VP +miss VB I-VP +its PRP$ B-NP +projections NNS I-NP +of IN B-PP +earnings NNS B-NP +before IN B-PP +interest NN B-NP +, , I-NP +tax NN I-NP +and CC I-NP +depreciation NN I-NP +by IN B-PP +$ $ B-NP +100 CD I-NP +million CD I-NP +, , O +and CC O +that IN B-SBAR +Eastern NNP B-NP +'s POS B-NP +plan NN I-NP +presented VBD B-VP +no DT B-NP +comfort NN I-NP +level NN I-NP +, , O +according VBG B-PP +to TO B-PP +a DT B-NP +source NN I-NP +present JJ B-ADJP +at IN B-PP +yesterday NN B-NP +'s POS B-NP +session NN I-NP +. . O + +Experts NNS B-NP +from IN B-PP +Goldman NNP B-NP +Sachs NNP I-NP +estimated VBD B-VP +Eastern NNP B-NP +would MD B-VP +miss VB I-VP +the DT B-NP +same JJ I-NP +mark NN I-NP +by IN B-PP +$ $ B-NP +120 CD I-NP +million CD I-NP +to TO I-NP +$ $ I-NP +135 CD I-NP +million CD I-NP +, , O +the DT B-NP +source NN I-NP +said VBD B-VP +. . O + +The DT B-NP +experts NNS I-NP +said VBD B-VP +they PRP B-NP +expected VBD B-VP +Eastern NNP B-NP +would MD B-VP +have VB I-VP +to TO I-VP +issue VB I-VP +new JJ B-NP +debt NN I-NP +to TO B-VP +cover VB I-VP +its PRP$ B-NP +costs NNS I-NP +, , O +and CC O +that IN B-SBAR +it PRP B-NP +would MD B-VP +generate VB I-VP +far RB B-NP +less JJR I-NP +cash NN I-NP +than IN B-PP +anticipated VBN B-VP +. . O + +Other JJ B-NP +costs NNS I-NP +also RB B-ADVP +would MD B-VP +increase VB I-VP +, , O +including VBG B-PP +maintenance NN B-NP +, , O +because IN B-SBAR +Eastern NNP B-NP +has VBZ B-VP +an DT B-NP +older JJR I-NP +fleet NN I-NP +. . O + +At IN B-PP +the DT B-NP +news NN I-NP +conference NN I-NP +, , O +Mr. NNP B-NP +Lorenzo NNP I-NP +and CC O +Eastern NNP B-NP +President NNP I-NP +Phil NNP I-NP +Bakes NNP I-NP +presented VBD B-VP +a DT B-NP +far RB I-NP +rosier JJR I-NP +assessment NN I-NP +. . O + +Flanked VBN B-VP +by IN B-PP +flight NN B-NP +attendants NNS I-NP +, , O +pilots NNS B-NP +and CC O +gate NN B-NP +agents NNS I-NP +dressed VBN B-VP +in IN B-PP +spiffy JJ B-NP +new JJ I-NP +blue JJ I-NP +uniforms NNS I-NP +, , O +they PRP B-NP +said VBD B-VP +Eastern NNP B-NP +has VBZ B-VP +exceeded VBN I-VP +its PRP$ B-NP +operational JJ I-NP +goals NNS I-NP +and CC O +is VBZ B-VP +filling VBG I-VP +its PRP$ B-NP +seats NNS I-NP +. . O + +Starting VBG B-VP +next JJ B-NP +month NN I-NP +, , O +Eastern NNP B-NP +will MD B-VP +begin VB I-VP +flying VBG I-VP +775 CD B-NP +flights NNS I-NP +daily JJ B-ADVP +instead RB B-PP +of IN I-PP +the DT B-NP +previously RB I-NP +announced VBN I-NP +700 CD I-NP +, , O +they PRP B-NP +said VBD B-VP +. . O + +Mr. NNP B-NP +Bakes NNP I-NP +declined VBD B-VP +to TO I-VP +give VB I-VP +out IN B-ADVP +Eastern NNP B-NP +'s POS B-NP +daily JJ I-NP +losses NNS I-NP +, , O +but CC O +said VBD B-VP +he PRP B-NP +did VBD B-VP +n't RB I-VP +expect VB I-VP +Eastern NNP B-NP +would MD B-VP +have VB I-VP +to TO I-VP +dip VB I-VP +into IN B-PP +the DT B-NP +cash NN I-NP +from IN B-PP +asset NN B-NP +sales NNS I-NP +currently RB B-VP +held VBN I-VP +in IN B-PP +escrow NN B-NP +. . O + +These DT B-NP +accounts NNS I-NP +hold VBP B-VP +several JJ B-NP +hundred CD I-NP +million CD I-NP +dollars NNS I-NP +, , O +primarily RB B-ADVP +from IN B-PP +asset NN B-NP +sales NNS I-NP +. . O + +The DT B-NP +plan NN I-NP +Eastern NNP B-NP +hopes VBZ B-VP +to TO I-VP +pursue VB I-VP +, , O +he PRP B-NP +said VBD B-VP +, , O +calls VBZ B-VP +for IN B-SBAR +Eastern NNP B-NP +to TO B-VP +have VB I-VP +$ $ B-NP +390 CD I-NP +million CD I-NP +in IN B-PP +cash NN B-NP +by IN B-PP +year NN B-NP +'s POS B-NP +end NN I-NP +. . O + +Both DT B-NP +he PRP B-NP +and CC O +Mr. NNP B-NP +Lorenzo NNP I-NP +predicted VBD B-VP +that DT B-NP +plan NN I-NP +might MD B-VP +be VB I-VP +confirmed VBN I-VP +in IN B-PP +January NNP B-NP +. . O + +As IN B-PP +to TO B-PP +negotiations NNS B-NP +with IN B-PP +creditors NNS B-NP +, , O +Mr. NNP B-NP +Lorenzo NNP I-NP +said VBD B-VP +in IN B-PP +remarks NNS B-NP +after IN B-PP +the DT B-NP +conference NN I-NP +`` `` O +we PRP B-NP +'ll MD B-VP +have VB I-VP +to TO I-VP +see VB I-VP +how WRB B-ADVP +they PRP B-NP +-LCB- ( O +talks NNS B-NP +-RCB- ) O +come VB B-VP +along IN B-PRT +. . O +'' '' O + +However RB B-ADVP +, , O +he PRP B-NP +added VBD B-VP +, , O +`` `` O +it PRP B-NP +'s VBZ B-VP +not RB O +a DT B-NP +requirement NN I-NP +that IN B-SBAR +the DT B-NP +plan NN I-NP +be VB B-VP +accepted VBN I-VP +by IN B-PP +creditors NNS B-NP +. . O + +It PRP B-NP +must MD B-VP +be VB I-VP +accepted VBN I-VP +by IN B-PP +the DT B-NP +court NN I-NP +. . O +'' '' O + +Under IN B-PP +bankruptcy NN B-NP +law NN I-NP +, , O +Eastern NNP B-NP +has VBZ B-VP +exclusive JJ B-NP +rights NNS I-NP +for IN B-PP +a DT B-NP +certain JJ I-NP +period NN I-NP +to TO B-VP +develop VB I-VP +its PRP$ B-NP +own JJ I-NP +reorganization NN I-NP +plan NN I-NP +. . O + +That DT B-NP +deadline NN I-NP +has VBZ B-VP +been VBN I-VP +extended VBN I-VP +once RB B-ADVP +and CC O +could MD B-VP +be VB I-VP +extended VBN I-VP +again RB B-ADVP +. . O + +If IN B-SBAR +Eastern NNP B-NP +can MD B-VP +get VB I-VP +creditor NN B-NP +support NN I-NP +, , O +court NN B-NP +confirmation NN I-NP +of IN B-PP +its PRP$ B-NP +plan NN I-NP +could MD B-VP +be VB I-VP +relatively RB B-ADJP +swift JJ I-ADJP +. . O + +But CC O +creditors NNS B-NP +are VBP B-VP +free JJ B-ADJP +to TO B-VP +press VB I-VP +for IN B-PP +court NN B-NP +approval NN I-NP +of IN B-PP +their PRP$ B-NP +own JJ I-NP +plan NN I-NP +, , O +or CC O +the DT B-NP +court NN I-NP +could MD B-VP +ignore VB I-VP +both DT B-NP +sides NNS I-NP +and CC O +draw VB B-VP +its PRP$ B-NP +own JJ I-NP +. . O + +In IN B-PP +any DT B-NP +event NN I-NP +, , O +some DT B-NP +people NNS I-NP +familiar JJ B-ADJP +with IN B-PP +the DT B-NP +case NN I-NP +question NN B-VP +whether IN B-SBAR +the DT B-NP +court NN I-NP +will MD B-VP +act VB I-VP +by IN B-PP +January NNP B-NP +as IN B-SBAR +forecast NN B-VP +by IN B-PP +Mr. NNP B-NP +Lorenzo NNP I-NP +and CC O +Mr. NNP B-NP +Bakes NNP I-NP +. . O + +Eastern NNP B-NP +sought VBD B-VP +bankruptcy-law NN B-NP +protection NN I-NP +a DT B-NP +few JJ I-NP +days NNS I-NP +after IN B-SBAR +a DT B-NP +crippling JJ I-NP +strike NN I-NP +began VBD B-VP +March NNP B-NP +4 CD I-NP +. . O + +Mr. NNP B-NP +Lorenzo NNP I-NP +told VBD B-VP +reporters NNS B-NP +the DT B-NP +reorganization NN I-NP +Eastern NNP B-NP +is VBZ B-VP +pursuing VBG I-VP +would MD B-VP +create VB I-VP +a DT B-NP +carrier NN I-NP +85 CD B-NP +% NN I-NP +to TO I-NP +90 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +size NN I-NP +of IN B-PP +the DT B-NP +pre-bankruptcy NN I-NP +Eastern NNP I-NP +. . O + +He PRP B-NP +projected VBD B-VP +it PRP B-NP +would MD B-VP +be VB I-VP +operating VBG I-VP +about IN B-NP +1,000 CD I-NP +flights NNS I-NP +a DT B-NP +day NN I-NP +by IN B-PP +late JJ B-NP +spring NN I-NP +, , O +only RB B-ADJP +slightly RB I-ADJP +fewer JJR I-ADJP +than IN B-PP +the DT B-NP +carrier NN I-NP +'s POS B-NP +old JJ I-NP +volume NN I-NP +of IN B-PP +1,050 CD B-NP +a DT B-NP +day NN I-NP +. . O + +HOPES NNS B-NP +OF IN B-PP +SIMPLIFYING VBG B-VP +the DT B-NP +corporate JJ I-NP +minimum JJ I-NP +tax NN I-NP +before IN B-PP +1990 CD B-NP +are VBP B-VP +weakening VBG I-VP +. . O + +The DT B-NP +method NN I-NP +of IN B-PP +calculating VBG B-VP +the DT B-NP +20 CD I-NP +% NN I-NP +tax NN I-NP +, , O +paid VBN B-VP +if IN B-SBAR +it PRP B-NP +exceeds VBZ B-VP +tax NN B-NP +figured VBD B-VP +the DT B-NP +regular JJ I-NP +way NN I-NP +, , O +is VBZ B-VP +due JJ B-ADJP +for IN B-PP +a DT B-NP +change NN I-NP +in IN B-PP +1990 CD B-NP +, , O +thanks VBZ B-NP +to TO B-PP +1986 CD B-NP +'s POS B-NP +tax NN I-NP +act NN I-NP +. . O + +But CC O +most RBS B-NP +experts NNS I-NP +agree VBP B-VP +that IN B-SBAR +the DT B-NP +concept NN I-NP +that WDT B-NP +is VBZ B-VP +to TO I-VP +be VB I-VP +introduced VBN I-VP +drags VBZ B-VP +in IN B-ADVP +great JJ B-NP +complexity NN I-NP +; : O +they PRP B-NP +have VBP B-VP +been VBN I-VP +trying VBG I-VP +to TO I-VP +head VB I-VP +it PRP B-NP +off IN B-PRT +this DT B-NP +year NN I-NP +. . O + +Ways NNS B-NP +and CC I-NP +Means NNP I-NP +Chairman NNP I-NP +Rostenkowski NNP I-NP +backed VBD B-VP +a DT B-NP +simplification NN I-NP +plan NN I-NP +in IN B-PP +the DT B-NP +pending VBG I-NP +House NNP I-NP +tax NN I-NP +bill NN I-NP +, , O +but CC O +the DT B-NP +plan NN I-NP +turns VBZ B-VP +out IN B-PRT +to TO B-VP +be VB I-VP +a DT B-NP +big JJ I-NP +revenue NN I-NP +loser NN I-NP +. . O + +Now RB B-ADVP +the DT B-NP +Senate NNP I-NP +'s POS B-NP +stripped-down JJ I-NP +bill NN I-NP +omits VBZ B-VP +any DT B-NP +proposal NN I-NP +to TO B-VP +deal VB I-VP +with IN B-PP +the DT B-NP +corporate JJ I-NP +tax NN I-NP +. . O + +Proponents NNS B-NP +of IN B-PP +simplification NN B-NP +fear NN B-VP +that IN B-SBAR +the DT B-NP +chances NNS I-NP +of IN B-PP +getting VBG B-VP +it PRP B-NP +into IN B-PP +the DT B-NP +final JJ I-NP +bill NN I-NP +are VBP B-VP +waning VBG I-VP +. . O + +`` `` O +We PRP B-NP +hear VBP B-VP +it PRP B-NP +has VBZ B-VP +low JJ B-NP +priority NN I-NP +on IN B-PP +the DT B-NP +House NNP I-NP +side NN I-NP +, , O +'' '' O +says VBZ B-VP +Samuel NNP B-NP +Starr NNP I-NP +of IN B-PP +Coopers NNP B-NP +& CC I-NP +Lybrand NNP I-NP +, , I-NP +CPAs NNS I-NP +. . O + +If IN B-SBAR +the DT B-NP +law NN I-NP +is VBZ B-VP +n't RB I-VP +changed VBN I-VP +, , O +he PRP B-NP +says VBZ B-VP +, , O +`` `` O +we PRP B-NP +are VBP B-VP +left VBN I-VP +staring VBG I-VP +at IN B-PP +rules NNS B-NP +that WDT B-NP +are VBP B-VP +almost RB B-ADJP +impossible JJ I-ADJP +to TO B-VP +implement VB I-VP +, , O +because IN B-SBAR +there EX B-NP +are VBP B-VP +so RB B-NP +many JJ I-NP +complex JJ I-NP +depreciation NN I-NP +calculations NNS I-NP +to TO B-VP +do VB I-VP +. . O +'' '' O + +But CC O +Congress NNP B-NP +still RB B-ADVP +could MD B-VP +resolve VB I-VP +the DT B-NP +issue NN I-NP +with IN B-PP +other JJ B-NP +legislation NN I-NP +this DT B-NP +year NN I-NP +or CC O +next JJ B-NP +, , O +Starr NNP B-NP +adds VBZ B-VP +. . O + +HUGO NNP B-NP +'S VBZ B-NP +RAVAGES NNS I-NP +may MD B-VP +be VB I-VP +offset VB I-VP +by IN B-PP +immediate JJ B-NP +claims NNS I-NP +for IN B-PP +tax NN B-NP +refunds NNS I-NP +. . O + +This DT B-NP +law NN I-NP +aids VBZ B-VP +hurricane-wracked JJ B-NP +locales NNS I-NP +named VBN B-VP +by IN B-PP +the DT B-NP +president NN I-NP +as IN B-PP +disaster NN B-NP +areas NNS I-NP +, , O +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +regions NNS B-NP +so RB B-VP +designated VBN I-VP +after IN B-PP +other JJ B-NP +1989 CD I-NP +disasters NNS I-NP +. . O + +It PRP B-NP +lets VBZ B-VP +victims NNS B-NP +elect VBP B-VP +to TO I-VP +deduct VB I-VP +casualty NN B-NP +losses NNS I-NP +on IN B-PP +either DT O +1989 CD B-NP +or CC O +amended VBN B-NP +1988 CD I-NP +returns NNS B-NP +, , O +whichever WDT B-NP +offers VBZ B-VP +the DT B-NP +larger JJR I-NP +tax NN I-NP +benefit NN I-NP +; : O +they PRP B-NP +have VBP B-VP +until IN B-PP +April NNP B-NP +16 CD I-NP +to TO B-VP +choose VB I-VP +. . O + +Amending VBG B-VP +a DT B-NP +1988 CD I-NP +return NN I-NP +to TO B-VP +claim VB I-VP +a DT B-NP +refund NN I-NP +brings VBZ B-VP +cash NN B-NP +faster RBR B-ADVP +; : O +but CC O +for IN B-PP +personal JJ B-NP +losses NNS I-NP +, , O +there EX B-NP +are VBP B-VP +other JJ B-NP +factors NNS I-NP +to TO B-VP +consider VB I-VP +, , O +notes NNS B-VP +publisher NN B-NP +Prentice NNP I-NP +Hall NNP I-NP +. . O + +A DT B-NP +loss NN I-NP +-- : O +after IN B-PP +insurance NN B-NP +recoveries NNS I-NP +-- : O +is VBZ B-VP +deductible JJ B-ADJP +only RB B-ADVP +to TO B-PP +the DT B-NP +extent NN I-NP +that IN B-SBAR +it PRP B-NP +exceeds VBZ B-VP +$ $ B-NP +100 CD I-NP +and CC O +that IN B-SBAR +the DT B-NP +year NN I-NP +'s POS B-NP +total JJ I-NP +losses NNS I-NP +exceed VBP B-VP +10 CD B-NP +% NN I-NP +of IN B-PP +adjusted VBN B-NP +gross JJ I-NP +income NN I-NP +; : O +victims NNS B-NP +may MD B-VP +pick VB I-VP +the DT B-NP +year NN I-NP +when WRB B-ADVP +income NN B-NP +is VBZ B-VP +lower JJR B-ADJP +and CC O +deductions NNS B-NP +higher JJR B-ADJP +. . O + +In IN B-PP +filing VBG B-VP +an DT O +original JJ O +-LRB- ( O +not RB B-ADJP +amended VBN I-ADJP +-RRB- ) O +return NN B-NP +, , O +a DT B-NP +couple NN I-NP +should MD B-VP +consider VB I-VP +whether IN B-SBAR +damaged VBN B-NP +property NN I-NP +is VBZ B-VP +owned VBN I-VP +jointly RB B-ADVP +or CC I-ADVP +separately RB I-ADVP +and CC O +whether IN B-SBAR +one CD B-NP +spouse NN I-NP +has VBZ B-VP +larger JJR B-NP +income NN I-NP +; : O +that WDT B-NP +may MD B-VP +determine VB I-VP +whether IN B-SBAR +they PRP B-NP +should MD B-VP +file VB I-VP +jointly RB B-ADVP +or CC I-ADVP +separately RB I-ADVP +. . O + +THE DT B-NP +IRS NNP I-NP +DELAYS VBZ B-VP +several JJ B-NP +deadlines NNS I-NP +for IN B-PP +Hugo NNP B-NP +'s POS B-NP +victims NNS I-NP +. . O + +Returns NNS B-NP +for IN B-PP +1988 CD B-NP +from IN B-PP +people NNS B-NP +with IN B-PP +six-month JJ B-NP +filing NN I-NP +extensions NNS I-NP +were VBD B-VP +due JJ B-ADJP +Monday NNP B-NP +, , O +but CC O +the DT B-NP +IRS NNP I-NP +says VBZ B-VP +people NNS B-NP +in IN B-PP +the DT B-NP +disaster NN I-NP +areas NNS I-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +penalized VBN I-VP +for IN B-PP +late JJ B-NP +filing NN I-NP +if IN B-SBAR +their PRP$ B-NP +returns NNS I-NP +are VBP B-VP +marked VBN I-VP +`` `` O +Hugo NNP B-NP +'' '' O +and CC O +postmarked VBN B-VP +by IN B-PP +Jan. NNP B-NP +16 CD I-NP +. . O + +Interest NN B-NP +will MD B-VP +be VB I-VP +imposed VBN I-VP +on IN B-PP +unpaid JJ B-NP +taxes NNS I-NP +, , O +but CC O +late-payment NN B-NP +penalties NNS I-NP +on IN B-PP +the DT B-NP +returns NNS I-NP +will MD B-VP +be VB I-VP +waived VBN I-VP +if IN B-SBAR +the DT B-NP +balance NN I-NP +due JJ B-ADJP +and CC I-ADJP +paid VBN I-ADJP +is VBZ B-VP +10 CD B-NP +% NN I-NP +or CC I-NP +less JJR I-NP +of IN B-PP +the DT B-NP +liability NN I-NP +. . O + +IRS NNP B-NP +Notice NN I-NP +89-136 CD I-NP +describes VBZ B-VP +this DT B-NP +and CC O +other JJ B-NP +deadline NN I-NP +relief NN I-NP +for IN B-PP +Hugo NNP B-NP +'s POS B-NP +victims NNS I-NP +. . O + +Among IN B-PP +the DT B-NP +provisions NNS I-NP +: : O +Fiscal-year JJ B-NP +taxpayers NNS I-NP +with IN B-PP +returns NNS B-NP +due JJ B-ADJP +last JJ B-NP +Monday NNP I-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +penalized VBN I-VP +if IN B-SBAR +they PRP B-NP +file VBP B-VP +-- : O +or CC O +request VB B-VP +an DT B-NP +extension NN I-NP +-- : O +and CC O +pay VB B-VP +tax NN B-NP +due JJ B-ADJP +by IN B-PP +Nov. NNP B-NP +15 CD I-NP +. . O + +Excise-tax JJ B-NP +returns NNS I-NP +due JJ B-ADJP +by IN B-PP +Oct. NNP B-NP +31 CD I-NP +or CC O +Nov. NNP B-NP +30 CD I-NP +may MD B-VP +be VB I-VP +delayed VBN I-VP +to TO B-PP +Jan. NNP B-NP +16 CD I-NP +. . O + +Extensions NNS B-NP +ca MD B-VP +n't RB I-VP +be VB I-VP +granted VBN I-VP +for IN B-PP +filing VBG B-VP +employment-tax JJ B-NP +returns NNS I-NP +due JJ B-ADJP +Oct. NNP B-NP +31 CD I-NP +or CC B-PP +for IN B-PP +depositing VBG B-VP +withheld VBN B-NP +taxes NNS I-NP +, , O +but CC O +late JJ B-NP +penalties NNS I-NP +will MD B-VP +be VB I-VP +abated VBN I-VP +for IN B-PP +deposits NNS B-NP +made VBN B-VP +by IN B-PP +Nov. NNP B-NP +15 CD I-NP +. . O + +The DT B-NP +notice NN I-NP +also RB B-ADVP +grants VBZ B-VP +relief NN B-NP +for IN B-PP +certain JJ B-NP +estate-tax JJ I-NP +returns NNS I-NP +. . O + +ONE-DAY JJ B-NP +JAUNTS NNS I-NP +in IN B-PP +a DT B-NP +chartered JJ I-NP +boat NN I-NP +were VBD B-VP +perks NNS B-NP +for IN B-PP +permanent JJ B-NP +staffers NNS I-NP +of IN B-PP +American NNP B-NP +Business NNP I-NP +Service NNP I-NP +Corp. NNP I-NP +, , O +a DT B-NP +Costa NNP I-NP +Mesa NNP I-NP +, , I-NP +Calif. NNP I-NP +, , I-NP +supplier NN I-NP +of IN B-PP +temporary JJ B-NP +workers NNS I-NP +. . O + +The DT B-NP +IRS NNP I-NP +denied VBD B-VP +cost NN B-NP +deductions NNS I-NP +because IN B-SBAR +few NN B-NP +of IN B-PP +the DT B-NP +temps NNS I-NP +got VBD B-VP +to TO I-VP +go VB I-VP +aboard RB B-ADVP +. . O + +But CC O +the DT B-NP +Tax NNP I-NP +Court NNP I-NP +said VBD B-VP +the DT B-NP +limitations NNS I-NP +were VBD B-VP +reasonable JJ B-ADJP +and CC I-ADJP +realistic JJ I-ADJP +and CC O +allowed VBD B-VP +the DT B-NP +deductions NNS I-NP +. . O + +USED-CAR NN B-NP +BUYERS NNS I-NP +who WP B-NP +try VBP B-VP +to TO I-VP +avoid VB I-VP +sales NNS B-NP +tax VB I-NP +by IN B-PP +understating VBG B-VP +prices NNS B-NP +paid VBN B-VP +in IN B-PP +private JJ B-NP +deals NNS I-NP +are VBP B-VP +the DT B-NP +targets NNS I-NP +of IN B-PP +a DT B-NP +New NNP I-NP +York NNP I-NP +drive NN I-NP +. . O + +Estimating VBG B-VP +that IN B-SBAR +the DT B-NP +state NN I-NP +may MD B-VP +lose VB I-VP +$ $ B-NP +15 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +, , O +officials NNS B-NP +announced VBD B-VP +the DT B-NP +filing NN I-NP +of IN B-PP +15 CD B-NP +criminal JJ I-NP +actions NNS I-NP +and CC O +`` `` O +hundreds NNS B-NP +'' '' O +of IN B-PP +civil JJ B-NP +penalties NNS I-NP +. . O + +WHEN WRB B-ADVP +AN DT B-NP +IRA NNP I-NP +OWNER NNP I-NP +dies VBZ B-VP +, , O +the DT B-NP +trustee NN I-NP +of IN B-PP +the DT B-NP +individual JJ I-NP +retirement NN I-NP +account NN I-NP +must MD B-VP +file VB I-VP +forms NNS B-NP +5498 CD I-NP +reporting VBG B-VP +market NN B-NP +values NNS I-NP +relating VBG B-VP +to TO B-PP +the DT B-NP +decedent NN I-NP +and CC O +each DT B-NP +beneficiary NN I-NP +, , O +with IN B-PP +copies NNS B-NP +to TO B-PP +the DT B-NP +executor NN I-NP +and CC I-NP +beneficiaries NNS I-NP +. . O + +IRS NNP B-NP +Revenue NN I-NP +Procedure NN I-NP +89-52 CD I-NP +describes VBZ B-VP +the DT B-NP +reporting VBG I-NP +requirements NNS I-NP +. . O + +BIGGER JJR B-ADJP +THAN IN B-PP +A DT B-NP +BREADBOX NN I-NP +was VBD B-VP +this DT B-NP +cash NN I-NP +hoarder NN I-NP +'s POS B-NP +reputation NN I-NP +for IN B-PP +honesty NN B-NP +. . O + +People NNS B-NP +often RB B-ADVP +cite VBP B-VP +frugality NN B-NP +and CC O +distrust NN B-NP +of IN B-PP +banks NNS B-NP +to TO B-VP +justify VB I-VP +cash NN B-NP +caches NNS I-NP +to TO B-PP +the DT B-NP +IRS NNP I-NP +. . O + +Gregory NNP B-NP +Damonne NNP I-NP +Brown NNP I-NP +of IN B-PP +Fremont NNP B-NP +, , O +Calif. NNP B-NP +, , O +a DT B-NP +hardworking JJ I-NP +, , I-NP +reclusive JJ I-NP +young JJ I-NP +bachelor NN I-NP +, , O +told VBD B-VP +that DT B-NP +story NN I-NP +to TO B-PP +the DT B-NP +Tax NNP I-NP +Court NNP I-NP +. . O + +But CC O +judges NNS B-NP +usually RB B-ADVP +find VBP B-VP +the DT B-NP +real JJ I-NP +aim NN I-NP +is VBZ B-VP +to TO B-VP +escape VB I-VP +tax NN B-NP +on IN B-PP +hidden VBN B-NP +income NN I-NP +; : O +and CC O +the DT B-NP +IRS NNP I-NP +said VBD B-VP +Brown NNP B-NP +must MD B-VP +have VB I-VP +had VBN I-VP +such JJ B-NP +income NN I-NP +-- : O +although IN B-SBAR +it PRP B-NP +uncovered VBD B-VP +no DT B-NP +source NN I-NP +-- : O +because IN B-SBAR +he PRP B-NP +deposited VBD B-VP +$ $ B-NP +124,732 CD I-NP +in IN B-PP +a DT B-NP +bank NN I-NP +account NN I-NP +in IN B-PP +1982-84 CD B-NP +while IN B-SBAR +reporting VBG B-VP +income NN B-NP +of IN B-PP +only RB B-NP +$ $ I-NP +52,012 CD I-NP +. . O + +Brown NNP B-NP +'s POS B-NP +story NN I-NP +: : O + +The DT B-NP +deposits NNS I-NP +came VBD B-VP +from IN B-PP +savings NNS B-NP +kept VBD B-VP +in IN B-PP +a DT B-NP +Tupperware NNP I-NP +breadbox NN I-NP +; : O +he PRP B-NP +saved VBD B-VP +$ $ B-NP +47,000 CD I-NP +in IN B-PP +1974-81 CD B-NP +by IN B-PP +living VBG B-VP +with IN B-PP +family NN B-NP +members NNS I-NP +and CC O +pinching VBG B-VP +pennies NNS B-NP +and CC O +$ $ B-NP +45,000 CD I-NP +of IN B-PP +secret JJ B-NP +gifts NNS I-NP +from IN B-PP +his PRP$ B-NP +remorseful JJ I-NP +father NN I-NP +, , O +who WP B-NP +had VBD B-VP +abandoned VBN I-VP +the DT B-NP +family NN I-NP +in IN B-PP +1955 CD B-NP +. . O + +Brown NNP B-NP +had VBD B-VP +no DT B-NP +proof NN I-NP +; : O +but CC O +testimony NN B-NP +of IN B-PP +his PRP$ B-NP +mother NN I-NP +and CC I-NP +stepmother NN I-NP +about IN B-PP +his PRP$ B-NP +father NN I-NP +and CC O +of IN B-PP +an DT B-NP +ex-employer NN I-NP +about IN B-PP +his PRP$ B-NP +honesty NN I-NP +and CC I-NP +habits NNS I-NP +satisfied VBD B-VP +a DT B-NP +judge NN I-NP +that IN B-SBAR +Brown NNP B-NP +was VBD B-VP +truthful JJ B-ADJP +and CC O +his PRP$ B-NP +tale NN I-NP +of IN B-PP +gifts NNS B-NP +was VBD B-VP +possible JJ B-ADJP +. . O + +The DT B-NP +IRS NNP I-NP +offered VBD B-VP +no DT B-NP +evidence NN I-NP +of IN B-PP +hidden VBN B-NP +sources NNS I-NP +of IN B-PP +taxable JJ B-NP +income NN I-NP +, , O +so RB O +Judge NNP B-NP +Shields NNP I-NP +rejected VBD B-VP +its PRP$ B-NP +claims NNS I-NP +. . O + +BRIEFS NNS B-NP +: : O + +Asked VBN B-VP +how WRB B-ADVP +he PRP B-NP +made VBD B-VP +charitable JJ B-NP +gifts NNS I-NP +of IN B-PP +$ $ B-NP +26,350 CD I-NP +out IN B-ADVP +of IN B-PP +reported VBN B-NP +two-year JJ I-NP +income NN I-NP +of IN B-PP +$ $ B-NP +46,892 CD I-NP +, , O +Thomas NNP B-NP +H. NNP I-NP +McFall NNP I-NP +of IN B-PP +Bryan NNP B-NP +, , O +Texas NNP B-NP +, , O +told VBD B-VP +the DT B-NP +Tax NNP I-NP +Court NNP I-NP +he PRP B-NP +had VBD B-VP +understated VBN I-VP +his PRP$ B-NP +income NN I-NP +. . O + +The DT B-NP +court NN I-NP +rejected VBD B-VP +his PRP$ B-NP +incredible JJ I-NP +claims NNS I-NP +, , O +denied VBD B-VP +his PRP$ B-NP +deductions NNS I-NP +, , O +and CC O +imposed VBD B-VP +a DT B-NP +negligence NN I-NP +penalty NN I-NP +... : O +. . O + +Rep. NNP B-NP +Schaefer NNP I-NP +-LRB- ( O +R. NNP B-NP +, , O +Colo. NNP B-NP +-RRB- ) O +entered VBD B-VP +a DT B-NP +bill NN I-NP +to TO B-VP +exempt VB I-VP +from IN B-PP +tax NN B-NP +rewards NNS B-NP +for IN B-PP +tips NNS B-NP +leading VBG B-VP +to TO B-PP +the DT B-NP +arrest NN I-NP +of IN B-PP +violent JJ B-NP +criminals NNS I-NP +. . O + +Kay NNP B-NP +Peterson NNP I-NP +mounts NNS B-VP +her PRP$ B-NP +bicycle NN I-NP +and CC O +grinds VBZ B-VP +up IN B-PRT +yet RB B-NP +another DT I-NP +steep NN I-NP +, , I-NP +rocky JJ I-NP +path NN I-NP +seemingly RB B-ADJP +suitable JJ I-ADJP +only RB B-ADVP +for IN B-PP +mountain NN B-NP +goats NNS I-NP +. . O + +After IN B-PP +a DT B-NP +tortuous JJ I-NP +climb NN I-NP +, , O +she PRP B-NP +is VBZ B-VP +rewarded VBN I-VP +by IN B-PP +a DT B-NP +picture-postcard NN I-NP +vista NN I-NP +: : O +a DT B-NP +glade NN I-NP +of IN B-PP +golden JJ B-NP +aspens NNS I-NP +under IN B-PP +an DT B-NP +azure JJ I-NP +Indian-summer JJ I-NP +sky NN I-NP +. . O + +This DT B-NP +place NN I-NP +is VBZ B-VP +12 CD B-NP +miles NNS I-NP +into IN B-PP +the DT B-NP +back JJ I-NP +country NN I-NP +-- : O +a DT B-NP +day-long JJ I-NP +trudge NN I-NP +for IN B-PP +a DT B-NP +hiker NN I-NP +, , O +but CC O +reached VBD B-VP +by IN B-PP +Ms. NNP B-NP +Peterson NNP I-NP +and CC O +six CD B-NP +others NNS I-NP +in IN B-PP +a DT B-NP +mere JJ I-NP +two CD I-NP +hours NNS I-NP +of IN B-PP +pedaling VBG B-VP +fat-tired JJ B-NP +mountain NN I-NP +bikes NNS I-NP +. . O + +`` `` O +This DT B-NP +, , O +'' '' O +says VBZ B-VP +Ms. NNP B-NP +Peterson NNP I-NP +, , O +`` `` O +is VBZ B-VP +what WP B-NP +it PRP B-NP +'s VBZ B-VP +all DT O +about IN B-PP +. . O +'' '' O + +Twelve CD B-NP +hundred CD I-NP +miles NNS I-NP +away RB B-ADVP +, , O +rangers NNS B-NP +at IN B-PP +a DT B-NP +Napa NNP I-NP +County NNP I-NP +, , I-NP +Calif. NNP I-NP +, , I-NP +state NN I-NP +park NN I-NP +are VBP B-VP +among IN B-PP +the DT B-NP +many JJ I-NP +who WP B-NP +do VBP B-VP +n't RB I-VP +quite RB I-VP +share VBP I-VP +the DT B-NP +enthusiasm NN I-NP +. . O + +This DT B-NP +summer NN I-NP +, , O +speeding VBG B-NP +bikers NNS I-NP +were VBD B-VP +blamed VBN I-VP +for IN B-PP +an DT B-NP +accident NN I-NP +in IN B-PP +the DT B-NP +Napa NNP I-NP +County NNP I-NP +park NN I-NP +, , O +in IN B-PP +which WDT B-NP +a DT B-NP +horse NN I-NP +-- : O +spooked VBN B-VP +on IN B-PP +a DT B-NP +trail NN I-NP +that WDT B-NP +was VBD B-VP +closed VBN I-VP +to TO B-PP +bikers NNS B-NP +-- : O +broke VBD B-VP +its PRP$ B-NP +leg NN I-NP +. . O + +The DT B-NP +animal NN I-NP +had VBD B-VP +to TO I-VP +be VB I-VP +destroyed VBN I-VP +; : O +the DT B-NP +bikers NNS I-NP +fled VBD B-VP +and CC O +were VBD B-VP +never RB I-VP +found VBN I-VP +. . O + +In IN B-PP +numerous JJ B-NP +parks NNS I-NP +near IN B-PP +San NNP B-NP +Francisco NNP I-NP +, , O +rangers NNS B-NP +have VBP B-VP +been VBN I-VP +forced VBN I-VP +to TO I-VP +close VB I-VP +trails NNS B-NP +, , O +set VBN B-VP +up IN B-PRT +speed NN B-NP +traps NNS I-NP +and CC O +use NN B-VP +radar NN B-NP +guns NNS I-NP +to TO B-VP +curb VB I-VP +fast RB B-NP +and CC I-NP +reckless JJ I-NP +riding NN I-NP +. . O + +They PRP B-NP +have VBP B-VP +even RB I-VP +sent VBN I-VP +helicopters NNS B-NP +in IN B-PP +pursuit NN B-NP +of IN B-PP +bikers NNS B-NP +after IN B-SBAR +hikers NNS B-NP +and CC I-NP +equestrians NNS I-NP +complained VBD B-VP +they PRP B-NP +were VBD B-VP +being VBG I-VP +driven VBN I-VP +from IN B-PP +trails NNS B-NP +. . O + +`` `` O +We PRP B-NP +were VBD B-VP +being VBG I-VP +overrun VBN I-VP +, , O +'' '' O +says VBZ B-VP +Steve NNP B-NP +Fiala NNP I-NP +, , O +trails NNS B-NP +coordinator NN I-NP +of IN B-PP +the DT B-NP +East NNP I-NP +Bay NNP I-NP +Regional NNP I-NP +Park NNP I-NP +District NNP I-NP +. . O + +Two CD B-NP +years NNS I-NP +ago RB B-ADVP +, , O +the DT B-NP +district NN I-NP +decided VBD B-VP +to TO I-VP +limit VB I-VP +the DT B-NP +bikes NNS I-NP +to TO B-PP +fire VB B-NP +roads NNS I-NP +in IN B-PP +its PRP$ B-NP +65,000 CD I-NP +hilly JJ I-NP +acres NNS I-NP +. . O + +From IN B-PP +about IN B-NP +200,000 CD I-NP +six CD B-NP +years NNS I-NP +ago RB B-ADVP +, , O +the DT B-NP +number NN I-NP +of IN B-PP +mountain NN B-NP +bikes NNS I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +grow VB I-VP +to TO B-PP +10 CD B-NP +million CD I-NP +in IN B-PP +1990 CD B-NP +. . O + +At IN B-NP +least JJS I-NP +half PDT I-NP +that DT I-NP +growth NN I-NP +will MD B-VP +have VB I-VP +come VBN I-VP +in IN B-PP +the DT B-NP +past JJ I-NP +three CD I-NP +years NNS I-NP +alone RB B-ADVP +. . O + +The DT B-NP +controversy NN I-NP +kicked VBD B-VP +up IN B-PRT +by IN B-PP +the DT B-NP +proliferation NN I-NP +of IN B-PP +these DT B-NP +all-terrain JJ I-NP +bicycles NNS I-NP +is VBZ B-VP +one CD B-NP +of IN B-PP +the DT B-NP +most RBS I-NP +divisive JJ I-NP +storms NNS I-NP +to TO B-VP +blow VB I-VP +through IN B-PP +the DT B-NP +national JJ I-NP +conservation NN I-NP +movement NN I-NP +in IN B-PP +recent JJ B-NP +memory NN I-NP +. . O + +Bikers NNS B-NP +-- : O +many NN B-NP +of IN B-PP +them PRP B-NP +ardent JJ B-NP +environmentalists NNS I-NP +-- : O +proclaim VB B-VP +their PRP$ B-NP +sport NN I-NP +an DT B-NP +efficient JJ I-NP +, , I-NP +safe JJ I-NP +, , I-NP +fitness-promoting JJ I-NP +way NN I-NP +to TO B-VP +get VB I-VP +back RB B-ADVP +to TO B-PP +nature NN B-NP +, , O +while IN B-SBAR +asserting VBG B-VP +a DT B-NP +right NN I-NP +, , O +as IN B-PP +taxpayers NNS B-NP +, , O +to TO B-VP +pedal VB I-VP +on IN B-PP +public JJ B-NP +lands NNS I-NP +. . O + +But CC O +the DT B-NP +bikes NNS I-NP +' POS B-NP +burgeoning VBG I-NP +numbers NNS I-NP +, , O +safety NN B-NP +concerns NNS I-NP +and CC O +fear NN B-NP +that IN B-SBAR +they PRP B-NP +damage VBP B-VP +fragile JJ B-NP +landscapes NNS I-NP +have VBP B-VP +prompted VBN I-VP +pleas NNS B-NP +, , O +from IN B-PP +the DT B-NP +Sierras NNPS I-NP +to TO B-PP +the DT B-NP +Eastern NNP I-NP +Seaboard NNP I-NP +, , O +to TO B-VP +ban VB I-VP +them PRP B-NP +from IN B-PP +the DT B-NP +back JJ I-NP +country NN I-NP +. . O + +Key NNP B-ADJP +to TO B-PP +the DT B-NP +issue NN I-NP +is VBZ B-VP +that IN B-SBAR +the DT B-NP +bikes NNS I-NP +, , O +in IN B-PP +skillful JJ B-NP +hands NNS I-NP +, , O +can MD B-VP +go VB I-VP +virtually RB B-ADVP +anywhere RB I-ADVP +, , O +and CC O +in IN B-PP +reckless JJ B-NP +hands NNS I-NP +can MD B-VP +become VB I-VP +vehicles NNS B-NP +of IN B-PP +terror NN B-NP +. . O + +An DT B-NP +adept JJ I-NP +bicyclist NN I-NP +can MD B-VP +leap VB I-VP +from IN B-PP +a DT B-NP +dead JJ I-NP +stop NN I-NP +to TO B-PP +the DT B-NP +top NN I-NP +of IN B-PP +a DT B-NP +picnic NN I-NP +table NN I-NP +without IN B-PP +losing VBG B-VP +balance NN B-NP +. . O + +Such JJ B-NP +skills NNS I-NP +allow VBP B-VP +riders NNS B-NP +to TO B-VP +fly VB I-VP +down RB B-PP +treacherous JJ B-NP +mountain NN I-NP +grades NNS I-NP +at IN B-PP +speeds NNS B-NP +of IN B-PP +up IN B-NP +to TO I-NP +40 CD I-NP +miles NNS I-NP +an DT B-NP +hour NN I-NP +-- : O +a DT B-NP +thrill NN I-NP +for IN B-PP +the DT B-NP +cyclist NN I-NP +but CC O +a DT B-NP +nightmare NN I-NP +for IN B-PP +unsuspecting JJ B-NP +hikers NNS I-NP +or CC I-NP +equestrians NNS I-NP +. . O + +For IN B-PP +harried VBN B-NP +public-land JJ I-NP +managers NNS I-NP +across IN B-PP +the DT B-NP +nation NN I-NP +, , O +the DT B-NP +response NN I-NP +is VBZ B-VP +increasingly RB B-ADVP +to TO B-VP +shut VB I-VP +the DT B-NP +gates NNS I-NP +. . O + +The DT B-NP +state NN I-NP +of IN B-PP +California NNP B-NP +, , O +following VBG B-VP +the DT B-NP +lead NN I-NP +of IN B-PP +some DT B-NP +regional JJ I-NP +parks NNS I-NP +, , O +recently RB B-ADVP +adopted VBN B-VP +regulations NNS B-NP +that WDT B-NP +closed VBD B-VP +nearly RB B-NP +all DT I-NP +hiking VBG I-NP +paths NNS I-NP +in IN B-PP +state NN B-NP +parks NNS I-NP +to TO B-PP +mountain NN B-NP +bicycles NNS I-NP +. . O + +The DT B-NP +move NN I-NP +largely RB B-ADVP +consigns VBZ B-VP +them PRP B-NP +to TO B-PP +roads NNS B-NP +used VBN B-VP +by IN B-PP +motorized JJ B-NP +vehicles NNS I-NP +. . O + +Most JJS B-NP +other JJ I-NP +states NNS I-NP +have VBP B-VP +enacted VBN I-VP +similar JJ B-NP +bans NNS I-NP +. . O + +The DT B-NP +bikes NNS I-NP +are VBP B-VP +unwelcome JJ B-ADJP +on IN B-PP +trails NNS B-NP +in IN B-PP +national JJ B-NP +parks NNS I-NP +. . O + +Even RB B-NP +the DT I-NP +U.S. NNP I-NP +Forest NNP I-NP +Service NNP I-NP +, , O +whose WP$ B-NP +lenient JJ I-NP +`` `` I-NP +multiple-use JJ I-NP +'' '' I-NP +philosophy NN I-NP +permits VBZ B-VP +motorized VBN B-NP +vehicles NNS I-NP +on IN B-PP +thousands NNS B-NP +of IN B-PP +miles NNS B-NP +of IN B-PP +its PRP$ B-NP +trails NNS I-NP +across IN B-PP +the DT B-NP +U.S. NNP I-NP +, , O +has VBZ B-VP +begun VBN I-VP +to TO I-VP +close VB I-VP +some DT B-NP +lands NNS I-NP +to TO B-PP +the DT B-NP +bikes NNS I-NP +, , O +including VBG B-PP +major JJ B-NP +portions NNS I-NP +of IN B-PP +the DT B-NP +popular JJ I-NP +Pacific NNP I-NP +Crest NNP I-NP +Trail NNP I-NP +, , O +which WDT B-NP +stretches VBZ B-VP +from IN B-PP +California NNP B-NP +to TO B-PP +Canada NNP B-NP +. . O + +Often RB B-ADVP +these DT B-NP +closings NNS I-NP +come VBP B-VP +after IN B-PP +vigorous JJ B-NP +anti-bike JJ I-NP +lobbying NN I-NP +by IN B-PP +conservation NN B-NP +organizations NNS I-NP +, , O +the DT B-NP +politically RB I-NP +potent JJ I-NP +Sierra NNP I-NP +Club NNP I-NP +among IN B-PP +them PRP B-NP +. . O + +Sierra NNP B-NP +has VBZ B-VP +been VBN I-VP +instrumental JJ B-ADJP +in IN B-PP +securing VBG B-VP +a DT B-NP +number NN I-NP +of IN B-PP +the DT B-NP +California NNP I-NP +bans NNS I-NP +. . O + +It PRP B-NP +has VBZ B-VP +been VBN I-VP +waging VBG I-VP +an DT B-NP +all-out JJ I-NP +campaign NN I-NP +to TO B-VP +beat VB I-VP +back RB B-ADVP +a DT B-NP +proposal NN I-NP +, , O +pushed VBN B-VP +by IN B-PP +Utah NNP B-NP +bike NN I-NP +groups NNS I-NP +, , O +to TO B-VP +allow VB I-VP +the DT B-NP +cycles NNS I-NP +in IN B-PP +federally RB B-NP +designated VBN I-NP +wilderness NN I-NP +areas NNS I-NP +, , O +where WRB B-ADVP +they PRP B-NP +are VBP B-VP +now RB I-VP +prohibited VBN I-VP +. . O + +Yet RB B-ADVP +Sierra NNP B-NP +'s POS B-NP +hard-line JJ I-NP +stance NN I-NP +has VBZ B-VP +created VBN I-VP +something NN B-NP +of IN B-PP +a DT B-NP +rift NN I-NP +in IN B-PP +the DT B-NP +organization NN I-NP +, , O +which WDT B-NP +estimates VBZ B-VP +that IN B-SBAR +17 CD B-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +500,000 CD I-NP +members NNS I-NP +own JJ B-VP +mountain NN B-NP +bikes NNS I-NP +. . O + +Pressure NN B-NP +from IN B-PP +these DT B-NP +members NNS I-NP +prompted VBD B-VP +the DT B-NP +club NN I-NP +recently RB B-ADVP +to TO B-VP +soften VB I-VP +its PRP$ B-NP +anti-bike JJ I-NP +rhetoric NN I-NP +; : O +it PRP B-NP +no RB B-ADVP +longer RB I-ADVP +, , O +for IN B-PP +example NN B-NP +, , O +lumps VBZ B-VP +the DT B-NP +bikes NNS I-NP +into IN B-PP +the DT B-NP +same JJ I-NP +category NN I-NP +as IN B-PP +motorcycles NNS B-NP +and CC O +other JJ B-NP +terrain-marring JJ I-NP +off-road JJ I-NP +vehicles NNS I-NP +. . O + +But CC O +the DT B-NP +club NN I-NP +still RB B-ADVP +insists VBZ B-VP +that IN B-SBAR +public JJ B-NP +lands NNS I-NP +ought MD B-VP +to TO I-VP +be VB I-VP +closed VBN I-VP +to TO B-PP +the DT B-NP +bikes NNS I-NP +unless IN B-SBAR +studies NNS B-NP +indicate VBP B-VP +the DT B-NP +bikes NNS I-NP +wo MD B-VP +n't RB I-VP +injure VB I-VP +the DT B-NP +environment NN I-NP +or CC O +other JJ B-NP +users NNS I-NP +. . O + +`` `` O +I PRP B-NP +have VBP B-VP +a DT B-NP +mountain NN I-NP +bike NN I-NP +, , O +yet RB B-ADVP +as IN B-PP +a DT B-NP +hiker NN I-NP +I PRP B-NP +'ve VBP B-VP +been VBN I-VP +run VB I-VP +off IN B-PP +the DT B-NP +road NN I-NP +by IN B-PP +kids NNS B-NP +careening VBG B-VP +down RP O +a DT B-NP +fire NN I-NP +trail NN I-NP +on IN B-PP +them PRP B-NP +, , O +'' '' O +says VBZ B-VP +Gene NNP B-NP +Coan NNP I-NP +, , O +an DT B-NP +official NN I-NP +at IN B-PP +Sierra NNP B-NP +'s POS B-NP +headquarters NN I-NP +in IN B-PP +San NNP B-NP +Francisco NNP I-NP +, , O +echoing VBG B-VP +the DT B-NP +concerns NNS I-NP +of IN B-PP +many JJ B-NP +members NNS I-NP +. . O + +`` `` O +People NNS B-NP +who WP B-NP +feel VBP B-VP +that IN B-SBAR +cyclists NNS B-NP +should MD B-VP +be VB I-VP +banned VBN I-VP +from IN B-PP +an DT B-NP +area NN I-NP +are VBP B-VP +n't RB I-VP +looking VBG I-VP +at IN B-PP +the DT B-NP +whole JJ I-NP +picture NN I-NP +, , O +'' '' O +complains VBZ B-VP +Mark NNP B-NP +Langton NNP I-NP +, , O +associate JJ B-NP +editor NN I-NP +of IN B-PP +Mountain NNP B-NP +and CC I-NP +City NNP I-NP +Biking NNP I-NP +magazine NN I-NP +in IN B-PP +Canoga NNP B-NP +Park NNP I-NP +, , O +Calif NNP B-NP +. . O + +Mr. NNP B-NP +Langton NNP I-NP +is VBZ B-VP +among IN B-PP +the DT B-NP +legions NNS I-NP +of IN B-PP +bikers NNS B-NP +who WP B-NP +got VBD B-VP +their PRP$ B-NP +first JJ I-NP +taste NN I-NP +of IN B-PP +wilderness NN B-NP +as IN B-PP +hikers NNS B-NP +or CC I-NP +backpackers NNS I-NP +. . O + +He PRP B-NP +says VBZ B-VP +fellow NN B-NP +bikers NNS I-NP +show VBP B-VP +the DT B-NP +same JJ I-NP +concern NN I-NP +for IN B-PP +the DT B-NP +land NN I-NP +that IN B-NP +they PRP B-NP +demonstrated VBD B-VP +as IN B-PP +hikers NNS B-NP +; : O +many JJ B-NP +are VBP B-VP +appalled VBN B-ADJP +that IN B-SBAR +the DT B-NP +conservation NN I-NP +community NN I-NP +would MD B-VP +suddenly RB I-VP +consider VB I-VP +them PRP B-NP +the DT B-NP +enemy NN I-NP +. . O + +To TO B-VP +fight VB I-VP +back RB B-PRT +, , O +activists NNS B-NP +such JJ B-PP +as IN I-PP +Mr. NNP B-NP +Langton NNP I-NP +are VBP B-VP +forming VBG I-VP +groups NNS B-NP +to TO B-VP +lobby VB I-VP +land NN B-NP +managers NNS I-NP +over IN B-PP +access NN B-NP +issues NNS I-NP +and CC O +undertake VB B-VP +education NN B-NP +programs NNS I-NP +to TO B-VP +show VB I-VP +that IN B-SBAR +the DT B-NP +bikes NNS I-NP +can MD B-VP +responsibly RB I-VP +share VB I-VP +trails NNS B-NP +. . O + +Mr. NNP B-NP +Langton NNP I-NP +'s POS B-NP +group NN I-NP +, , O +Concerned NNP B-NP +Off-Road NNP I-NP +Bicyclists NNPS I-NP +Association NNP I-NP +, , O +mounted VBN B-VP +petition NN B-NP +drives NNS I-NP +to TO B-VP +help VB I-VP +keep VB I-VP +open JJ B-ADJP +certain JJ B-NP +Santa NNP I-NP +Monica NNP I-NP +Mountain NNP I-NP +trails NNS I-NP +designated VBN B-VP +for IN B-PP +closing VBG B-NP +. . O + +Biking NNP B-NP +groups NNS I-NP +in IN B-PP +Montana NNP B-NP +, , I-NP +Idaho NNP I-NP +, , I-NP +Michigan NNP I-NP +and CC I-NP +Massachusetts NNP I-NP +have VBP B-VP +won VBN I-VP +similar JJ B-NP +concessions NNS I-NP +, , O +says VBZ B-VP +Tim NNP B-NP +Blumenthal NNP I-NP +, , O +mountain NN B-NP +bike NN I-NP +editor NN I-NP +of IN B-PP +Bicycling NNP B-NP +magazine NN I-NP +. . O + +These DT B-NP +groups NNS I-NP +have VBP B-VP +been VBN I-VP +trying VBG I-VP +to TO I-VP +improve VB I-VP +the DT B-NP +mountain NN I-NP +biker NN I-NP +'s POS B-NP +image NN I-NP +; : O +in IN B-PP +the DT B-NP +San NNP I-NP +Francisco-area JJ I-NP +park NN I-NP +district NN I-NP +where WRB B-ADVP +a DT B-NP +ranger NN I-NP +was VBD B-VP +clobbered VBN I-VP +by IN B-PP +a DT B-NP +cyclist NN I-NP +this DT B-NP +summer NN I-NP +bikers NNS B-NP +have VBP B-VP +formed VBN I-VP +a DT B-NP +volunteer NN I-NP +patrol NN I-NP +to TO B-VP +help VB I-VP +rangers NNS B-NP +enforce VB B-VP +regulations NNS B-NP +, , O +and CC O +to TO B-VP +school VB I-VP +riders NNS B-NP +in IN B-PP +proper JJ B-NP +trail NN I-NP +etiquette NN I-NP +. . O + +Even RB B-NP +staunch JJ I-NP +anti-bike JJ I-NP +Sierra NNP I-NP +members NNS I-NP +concede VBP B-VP +that IN B-SBAR +10 CD B-NP +% NN I-NP +of IN B-PP +all DT B-NP +riders NNS I-NP +cause VBP B-VP +most RBS B-NP +of IN B-PP +the DT B-NP +problems NNS I-NP +. . O + +While IN B-SBAR +some DT B-NP +are VBP B-VP +renegade NN B-NP +riders NNS I-NP +who WP B-NP +simply JJ B-ADVP +scorn NN B-VP +regulations NNS B-NP +, , O +much JJ B-NP +bad JJ I-NP +riding NN I-NP +simply RB B-ADVP +reflects VBZ B-VP +ignorance NN B-NP +that WDT B-NP +can MD B-VP +be VB I-VP +corrected VBN I-VP +through IN B-PP +`` `` O +education NN B-NP +and CC O +peer NN B-NP +pressure NN I-NP +, , O +'' '' O +says VBZ B-VP +Jim NNP B-NP +Hasenauer NNP I-NP +, , O +a DT B-NP +director NN I-NP +of IN B-PP +the DT B-NP +International NNP I-NP +Mountain NNP I-NP +Biking NNP I-NP +Association NNP I-NP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +we PRP B-NP +'re VBP B-VP +making VBG I-VP +progress NN B-NP +. . O +'' '' O + +Few JJ B-NP +would MD B-VP +have VB I-VP +foreseen VBN I-VP +such JJ B-NP +a DT I-NP +furor NN I-NP +when WRB B-ADVP +, , O +a DT B-NP +decade NN I-NP +ago RB B-ADVP +, , O +some DT B-NP +Marin NNP I-NP +County NNP I-NP +bicycle NN I-NP +enthusiasts NNS I-NP +created VBD B-VP +a DT B-NP +hybrid JJ I-NP +bike NN I-NP +using VBG B-VP +fat JJ B-NP +tires NNS I-NP +, , O +lightweight JJ B-NP +metallurgy NN I-NP +and CC O +multi-gear JJ B-NP +technology NN I-NP +. . O + +They PRP B-NP +wanted VBD B-VP +a DT B-NP +machine NN I-NP +that WDT B-NP +would MD B-VP +allow VB I-VP +them PRP B-NP +to TO B-VP +pedal VB I-VP +into IN B-PP +rugged JJ B-NP +terrain NN I-NP +then RB B-ADJP +inaccessible JJ I-ADJP +to TO B-PP +cycles NNS B-NP +. . O + +They PRP B-NP +got VBD B-VP +a DT B-NP +machine NN I-NP +more RBR B-ADJP +responsive JJ I-ADJP +, , O +more RBR B-ADJP +stable JJ I-ADJP +and CC O +in IN B-PP +many JJ B-NP +ways NNS I-NP +easier JJR B-ADJP +to TO B-VP +ride VB I-VP +than IN B-PP +the DT B-NP +thin-tired JJ I-NP +racing NN I-NP +bikes NNS I-NP +that IN B-NP +then RB B-ADVP +were VBD B-VP +the DT B-NP +rage NN I-NP +. . O + +When WRB B-ADVP +the DT B-NP +bikes NNS I-NP +first JJ B-ADVP +entered VBD B-VP +mass NN B-NP +production NN I-NP +in IN B-PP +1981 CD B-NP +, , O +they PRP B-NP +were VBD B-VP +dismissed VBN I-VP +as IN B-PP +a DT B-NP +fad NN I-NP +. . O + +Last JJ B-NP +year NN I-NP +, , O +25 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +10 CD I-NP +million CD I-NP +bicycles NNS I-NP +sold VBN B-VP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +were VBD B-VP +mountain NN B-NP +bikes NNS I-NP +. . O + +In IN B-PP +California NNP B-NP +, , O +a DT B-NP +bellwether NN I-NP +market NN I-NP +, , O +they PRP B-NP +accounted VBD B-VP +for IN B-PP +more JJR B-NP +than IN I-NP +80 CD I-NP +% NN I-NP +of IN B-PP +all DT B-NP +bike NN I-NP +sales NNS I-NP +. . O + +The DT B-NP +majority NN I-NP +of IN B-PP +the DT B-NP +bikes NNS I-NP +never RB B-ADVP +even RB B-ADVP +make VB B-VP +it PRP B-NP +into IN B-PP +the DT B-NP +high JJ I-NP +country NN I-NP +. . O + +City NN B-NP +dwellers NNS I-NP +love VBP B-VP +them PRP B-NP +because IN B-SBAR +they PRP B-NP +shift VBP B-VP +smoothly RB B-ADVP +in IN B-PP +traffic NN B-NP +, , O +bounce VB B-VP +easily RB B-ADVP +over IN B-PP +curbs NNS B-NP +and CC O +roll NN B-VP +through IN B-PP +road NN B-NP +glass NN I-NP +with IN B-PP +far RB B-NP +fewer RBR I-NP +flat JJ I-NP +tires NNS I-NP +than IN B-PP +racing VBG B-NP +bikes NNS I-NP +. . O + +Crested NNP B-NP +Butte NNP I-NP +, , O +population NN B-NP +1,200 CD I-NP +, , O +is VBZ B-VP +a DT B-NP +bastion NN I-NP +of IN B-PP +the DT B-NP +sport NN I-NP +. . O + +By IN B-PP +one CD B-NP +estimate NN I-NP +, , O +everyone NN B-NP +here RB I-NP +under IN B-PP +50 CD B-NP +owns VBZ B-VP +at IN B-NP +least JJS I-NP +one CD I-NP +bike NN I-NP +. . O + +The DT B-NP +town NN I-NP +is VBZ B-VP +home NN B-NP +to TO B-PP +the DT B-NP +Mountain NNP I-NP +Bike NNP I-NP +Hall NNP I-NP +of IN B-PP +Fame NNP B-NP +and CC O +it PRP B-NP +hosts VBZ B-VP +the DT B-NP +annual JJ I-NP +Fat NNP I-NP +Tire NNP I-NP +Bike NNP I-NP +Week NNP I-NP +. . O + +This DT B-NP +summer NN I-NP +, , O +the DT B-NP +jamboree NN I-NP +attracted VBN B-VP +more JJR B-NP +visitors NNS I-NP +than IN B-PP +the DT B-NP +busiest JJS I-NP +week NN I-NP +of IN B-PP +the DT B-NP +town NN I-NP +'s POS B-NP +winter NN I-NP +ski NN I-NP +season NN I-NP +. . O + +David NNP B-NP +Lindsey NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +the DT B-NP +Fat NNP I-NP +Tire NNP I-NP +Bike NNP I-NP +celebration NN I-NP +, , O +muses VBZ B-VP +that IN B-SBAR +the DT B-NP +bike NN I-NP +'s POS B-NP +popularity NN I-NP +may MD B-VP +be VB I-VP +a DT B-NP +combination NN I-NP +of IN B-PP +technology NN B-NP +and CC I-NP +nostalgia NN I-NP +. . O + +`` `` O +The DT B-NP +mountain NN I-NP +bike NN I-NP +feels VBZ B-VP +as RB B-ADJP +comfortable JJ I-ADJP +as IN B-PP +the DT B-NP +` `` I-NP +paperboy NN I-NP +' '' I-NP +bike NN I-NP +you PRP B-NP +had VBD B-VP +as IN B-PP +a DT B-NP +kid NN I-NP +, , O +but CC O +it PRP B-NP +can MD B-VP +do VB I-VP +so RB B-NP +much RB I-NP +more JJR I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +The DT B-NP +following VBG I-NP +issues NNS I-NP +were VBD B-VP +recently RB I-VP +filed VBN I-VP +with IN B-PP +the DT B-NP +Securities NNP I-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +: : O + +Canada NNP B-NP +'s POS B-NP +Province NNP I-NP +of IN B-PP +Nova NNP B-NP +Scotia NNP I-NP +, , O +shelf NN B-NP +offering NN I-NP +of IN B-PP +up IN B-NP +to TO I-NP +$ $ I-NP +550 CD I-NP +million CD I-NP +of IN B-PP +debentures NNS B-NP +. . O + +Golar NNP B-NP +Gas NNP I-NP +Holding NNP I-NP +Co. NNP I-NP +, , O +a DT B-NP +subsidiary NN I-NP +of IN B-PP +Gotaas-Larsen NNP B-NP +Shipping NNP I-NP +Corp. NNP I-NP +, , O +offering NN B-NP +of IN B-PP +$ $ B-NP +280 CD I-NP +million CD I-NP +first JJ I-NP +preferred JJ I-NP +ship NN I-NP +mortgage NN I-NP +notes NNS I-NP +, , O +via IN B-PP +Merrill NNP B-NP +Lynch NNP I-NP +Capital NNP I-NP +Markets NNPS I-NP +. . O + +H.F. NNP B-NP +Ahmanson NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +offering NN B-NP +of IN B-PP +four CD B-NP +million CD I-NP +shares NNS I-NP +of IN B-PP +noncumulative JJ B-NP +convertible JJ I-NP +preferred JJ I-NP +stock NN I-NP +, , O +Series NNP B-NP +B. NNP I-NP +, , O +via IN B-PP +Goldman NNP B-NP +, , I-NP +Sachs NNP I-NP +& CC I-NP +Co NNP I-NP +, , O +First NNP B-NP +Boston NNP I-NP +Corp. NNP I-NP +, , O +and CC O +Merrill NNP B-NP +Lynch NNP I-NP +. . O + +Shared NNP B-NP +Technologies NNP I-NP +Inc. NNP I-NP +, , O +offering NN B-NP +of IN B-PP +2.5 CD B-NP +million CD I-NP +common JJ I-NP +shares NNS I-NP +, , O +via IN B-PP +Smetek NNP B-NP +, , I-NP +Van NNP I-NP +Horn NNP I-NP +& CC I-NP +Cormack NNP I-NP +Inc. NNP I-NP +and CC O +Oakes NNP B-NP +, , I-NP +Fitzwilliams NNP I-NP +& CC I-NP +Co NNP I-NP +. . O + +Stock-market NN B-NP +tremors NNS I-NP +again RB B-ADVP +shook VBD B-VP +bond NN B-NP +prices NNS I-NP +, , O +while IN B-SBAR +the DT B-NP +dollar NN I-NP +turned VBD B-VP +in IN B-PRT +a DT B-NP +mixed VBN I-NP +performance NN I-NP +. . O + +Early JJ B-NP +yesterday NN I-NP +, , O +investors NNS B-NP +scrambled VBD B-VP +to TO I-VP +buy VB I-VP +Treasury NNP B-NP +bonds NNS I-NP +for IN B-PP +safety NN B-NP +as IN B-SBAR +stock NN B-NP +prices NNS I-NP +plummeted VBD B-VP +and CC O +fears NNS B-NP +mounted VBN B-VP +of IN B-PP +a DT B-NP +replay NN I-NP +of IN B-PP +Friday NNP B-NP +. . O + +But CC O +stocks NNS B-NP +later RB B-ADVP +recovered VBD B-VP +, , O +erasing VBG B-VP +most RBS B-NP +of IN B-PP +their PRP$ B-NP +early JJ I-NP +declines NNS I-NP +. . O + +That DT B-NP +cut NN B-VP +short VB B-ADJP +the DT B-NP +rally NN I-NP +in IN B-PP +Treasury NNP B-NP +bonds NNS I-NP +and CC O +depressed JJ B-VP +prices NNS B-NP +moderately RB B-ADVP +below IN B-PP +late JJ B-NP +Monday NNP I-NP +'s POS B-NP +levels NNS I-NP +. . O + +The DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +, , O +down RB B-ADVP +more JJR B-NP +than IN I-NP +60.25 CD I-NP +points NNS I-NP +early RB B-ADVP +in IN B-PP +the DT B-NP +day NN I-NP +, , O +finished VBD B-VP +18.65 CD B-NP +points NNS I-NP +lower JJR B-ADVP +at IN B-PP +2638.73 CD B-NP +. . O + +Long-term NNP B-NP +Treasury NNP I-NP +issues NNS I-NP +declined VBD B-VP +about IN B-NP +half PDT I-NP +a DT I-NP +point NN I-NP +, , O +or CC O +$ $ B-NP +5 NN I-NP +for IN B-PP +each DT B-NP +$ $ I-NP +1,000 CD I-NP +face NN I-NP +amount NN I-NP +. . O + +`` `` O +The DT B-NP +stock NN I-NP +market NN I-NP +clearly RB B-ADVP +is VBZ B-VP +leading VBG I-VP +the DT B-NP +bond NN I-NP +markets NNS I-NP +, , O +'' '' O +said VBD B-VP +Jack NNP B-NP +Conlon NNP I-NP +, , O +an DT B-NP +executive JJ I-NP +vice NN I-NP +president NN I-NP +at IN B-PP +Nikko NNP B-NP +Securities NNP I-NP +. . O + +`` `` O +People NNS B-NP +are VBP B-VP +breathing VBG I-VP +a DT B-NP +major JJ I-NP +sigh NN I-NP +of IN B-PP +relief NN B-NP +that IN B-SBAR +the DT B-NP +world NN I-NP +did VBD B-VP +n't RB I-VP +end VB I-VP +Monday NNP B-NP +morning NN I-NP +'' '' O +or CC O +yesterday NN B-NP +. . O + +Gold NNP B-NP +, , O +a DT B-NP +closely RB I-NP +watched VBN I-NP +barometer NN I-NP +of IN B-PP +investor NN B-NP +anxiety NN I-NP +, , O +was VBD B-VP +little RB B-ADJP +changed VBN I-ADJP +. . O + +The DT B-NP +dollar NN I-NP +initially RB B-ADVP +fell VBD B-VP +against IN B-PP +other JJ B-NP +major JJ I-NP +currencies NNS I-NP +on IN B-PP +news NN B-NP +that IN B-SBAR +the DT B-NP +U.S. NNP I-NP +trade NN I-NP +deficit NN I-NP +surged VBD B-VP +in IN B-PP +August NNP B-NP +to TO B-PP +$ $ B-NP +10.77 CD I-NP +billion CD I-NP +. . O + +But CC O +the DT B-NP +dollar NN I-NP +later RB B-ADVP +rebounded VBD B-VP +, , O +finishing VBG B-VP +slightly RB B-ADJP +higher JJR I-ADJP +against IN B-PP +the DT B-NP +yen NN I-NP +although IN B-ADJP +slightly RB B-ADJP +lower JJR I-ADJP +against IN B-PP +the DT B-NP +mark NN I-NP +. . O + +Federal NNP B-NP +Reserve NNP I-NP +officials NNS I-NP +sent VBD B-VP +another DT B-NP +signal NN I-NP +of IN B-PP +their PRP$ B-NP +determination NN I-NP +to TO B-VP +shore VB I-VP +up IN B-PRT +investor NN B-NP +confidence NN I-NP +. . O + +In IN B-PP +an DT B-NP +apparent JJ I-NP +attempt NN I-NP +to TO B-VP +keep VB I-VP +a DT B-NP +lid NN I-NP +on IN B-PP +short-term JJ B-NP +interest NN I-NP +rates NNS I-NP +, , O +the DT B-NP +Fed NNP I-NP +once RB B-ADVP +again RB I-ADVP +pumped VBN B-VP +money NN B-NP +into IN B-PP +the DT B-NP +banking NN I-NP +system NN I-NP +. . O + +But CC O +the DT B-NP +Fed NNP I-NP +move NN I-NP +was VBD B-VP +a DT B-NP +small JJ I-NP +gesture NN I-NP +, , O +traders NNS B-NP +said VBD B-VP +. . O + +Fed JJ B-NP +officials NNS I-NP +appear VBP B-VP +reluctant JJ B-ADJP +to TO B-VP +ease VB I-VP +their PRP$ B-NP +credit NN I-NP +grip NN I-NP +any DT B-ADVP +further JJ I-ADVP +because IN B-SBAR +a DT B-NP +bold JJ I-NP +move NN I-NP +does VBZ B-VP +n't RB I-VP +appear VB I-VP +necessary JJ B-ADJP +, , O +several JJ B-NP +investment NN I-NP +managers NNS I-NP +said VBD B-VP +. . O + +The DT B-NP +Fed NNP I-NP +has VBZ B-VP +allowed VBN I-VP +a DT B-NP +key JJ I-NP +short-term JJ I-NP +interest NN I-NP +rate NN I-NP +to TO B-VP +decline VB I-VP +about IN B-NP +one-quarter NN I-NP +percentage NN I-NP +point NN I-NP +. . O + +The DT B-NP +federal JJ I-NP +funds NNS I-NP +rate NN I-NP +on IN B-PP +overnight JJ B-NP +loans NNS I-NP +between IN B-PP +banks NNS B-NP +has VBZ B-VP +been VBN I-VP +hovering VBG I-VP +around IN B-PP +8 CD B-NP +3\/4 CD I-NP +% NN I-NP +, , O +down RB B-ADVP +from IN B-PP +9 CD B-NP +% NN I-NP +previously RB B-ADVP +. . O + +Although IN B-SBAR +stocks NNS B-NP +have VBP B-VP +led VBN I-VP +bonds NNS B-NP +this DT B-NP +week NN I-NP +, , O +some DT B-NP +traders NNS I-NP +predict VBP B-VP +that DT B-NP +relationship NN I-NP +will MD B-VP +reverse VB I-VP +during IN B-PP +the DT B-NP +next JJ I-NP +few JJ I-NP +weeks NNS I-NP +. . O + +Nikko NNP B-NP +'s POS B-NP +Mr. NNP I-NP +Conlon NNP I-NP +fears VBZ B-VP +a DT B-NP +huge JJ I-NP +wave NN I-NP +of IN B-PP +Treasury NNP B-NP +borrowing NN I-NP +early JJ B-NP +next JJ I-NP +month NN I-NP +will MD B-VP +drive VB I-VP +down RB B-ADVP +Treasury NNP B-NP +bond NN I-NP +prices NNS I-NP +. . O + +That DT B-NP +, , O +coupled VBN B-VP +with IN B-PP +poor JJ B-NP +third-quarter JJ I-NP +corporate-earnings NNS I-NP +comparisons NNS I-NP +, , O +`` `` O +will MD B-VP +make VB I-VP +trouble NN B-NP +for IN B-PP +the DT B-NP +equity NN I-NP +market NN I-NP +for IN B-PP +the DT B-NP +next JJ I-NP +two CD I-NP +to TO I-NP +three CD I-NP +months NNS I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +But CC O +several JJ B-NP +other JJ I-NP +traders NNS I-NP +contend VBP B-VP +investors NNS B-NP +have VBP B-VP +overreacted VBN I-VP +to TO B-PP +junk-bond NN B-NP +jitters NNS I-NP +, , O +and CC O +that IN B-SBAR +stock NN B-NP +prices NNS I-NP +will MD B-VP +continue VB I-VP +to TO I-VP +recover VB I-VP +. . O + +`` `` O +They PRP B-NP +shot NN B-VP +the DT B-NP +whole JJ I-NP +orchestra NN I-NP +just RB B-ADVP +because IN B-SBAR +the DT B-NP +piano NN I-NP +player NN I-NP +hit VBD B-VP +a DT B-NP +bad JJ I-NP +note NN I-NP +, , O +'' '' O +said VBD B-VP +Laszlo NNP B-NP +Birinyi NNP I-NP +, , O +president NN B-NP +of IN B-PP +Birinyi NNP B-NP +Associates NNP I-NP +Inc. NNP I-NP +, , O +referring VBG B-VP +to TO B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +'s POS B-NP +plunge NN I-NP +Friday NNP B-NP +on IN B-PP +news NN B-NP +of IN B-PP +trouble NN B-NP +in IN B-PP +financing VBG B-VP +the DT B-NP +UAL NNP I-NP +Corp NNP I-NP +. . I-NP +buy-out NN I-NP +. . O + +In IN B-PP +major JJ B-NP +market NN I-NP +activity NN I-NP +: : O +Treasury NNP B-NP +bond NN I-NP +prices NNS I-NP +fell VBD B-VP +. . O + +The DT B-NP +yield NN I-NP +on IN B-PP +30-year NNP B-NP +Treasury NNP I-NP +bonds NNS I-NP +climbed VBD B-VP +back RB B-ADVP +above IN B-PP +8 CD B-NP +% NN I-NP +, , O +ending VBG B-VP +the DT B-NP +day NN I-NP +at IN B-PP +8.03 CD B-NP +% NN I-NP +. . O + +The DT B-NP +dollar NN I-NP +was VBD B-VP +mixed VBN B-ADJP +. . O + +Late JJ B-NP +yesterday NN I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +, , O +the DT B-NP +dollar NN I-NP +rose VBD B-VP +to TO B-PP +142.75 CD B-NP +yen NN I-NP +from IN B-PP +141.80 CD B-NP +yen NN I-NP +Monday NNP B-NP +, , O +but CC O +fell VBD B-VP +to TO B-PP +1.8667 CD B-NP +marks NNS I-NP +from IN B-PP +1.8685 CD B-NP +marks NNS I-NP +. . O + +The DT B-NP +Consumer NNP I-NP +News NNP I-NP +and CC I-NP +Business NNP I-NP +Channel NNP I-NP +cable NN I-NP +network NN I-NP +and CC O +U.S. NNP B-NP +News NNP I-NP +& CC I-NP +World NNP I-NP +Report NNP I-NP +have VBP B-VP +formed VBN I-VP +a DT B-NP +joint JJ I-NP +venture NN I-NP +to TO B-VP +produce VB I-VP +cable NN B-NP +program NN I-NP +versions NNS I-NP +of IN B-PP +special JJ B-NP +issues NNS I-NP +of IN B-PP +the DT B-NP +magazine NN I-NP +. . O + +The DT B-NP +programs NNS I-NP +will MD B-VP +run VB I-VP +on IN B-PP +the DT B-NP +cable NN I-NP +network NN I-NP +the DT B-NP +Sunday NNP I-NP +evening NN I-NP +immediately RB B-ADVP +prior RB B-PP +to TO B-PP +the DT B-NP +release NN I-NP +of IN B-PP +the DT B-NP +special JJ I-NP +issue NN I-NP +of IN B-PP +U.S. NNP B-NP +News NNP I-NP +& CC I-NP +World NNP I-NP +Report NNP I-NP +. . O + +CNBC NNP B-NP +is VBZ B-VP +a DT B-NP +joint JJ I-NP +venture NN I-NP +of IN B-PP +the DT B-NP +National NNP I-NP +Broadcasting NNP I-NP +Co. NNP I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +General NNP B-NP +Electric NNP I-NP +Co. NNP I-NP +, , O +and CC O +Cablevision NNP B-NP +System NNP I-NP +Corp NNP I-NP +. . O + +Advertisers NNS B-NP +will MD B-VP +be VB I-VP +offered VBN I-VP +an DT B-NP +advertising NN I-NP +package NN I-NP +, , O +which WDT B-NP +for IN B-PP +a DT B-NP +single JJ I-NP +price NN I-NP +, , O +will MD B-VP +include VB I-VP +time NN B-NP +on IN B-PP +the DT B-NP +CNBC NNP I-NP +program NN I-NP +and CC O +ad NN B-NP +pages NNS I-NP +in IN B-PP +the DT B-NP +special JJ I-NP +guides NNS I-NP +. . O + +CNBC NNP B-NP +will MD B-VP +produce VB I-VP +six CD B-NP +, , I-NP +one-hour JJ I-NP +programs NNS I-NP +, , O +beginning VBG B-VP +in IN B-PP +April NNP B-NP +1990 CD I-NP +. . O + +The DT B-NP +first JJ I-NP +program NN I-NP +scheduled VBN B-VP +in IN B-PP +the DT B-NP +joint JJ I-NP +venture NN I-NP +is VBZ B-VP +`` `` O +The DT O +1990 CD O +Homeowner NNP B-NP +'s POS B-NP +Guide NNP I-NP +. . O +'' '' O + +Other JJ B-NP +programs NNS I-NP +and CC I-NP +special JJ I-NP +issues NNS I-NP +will MD B-VP +be VB I-VP +based VBN I-VP +on IN B-PP +themes NNS B-NP +of IN B-PP +health NN B-NP +, , O +jobs NNS B-NP +, , O +personal JJ B-NP +finance NN I-NP +, , O +the DT B-NP +best JJS I-NP +colleges NNS I-NP +, , O +and CC O +investments NNS B-NP +. . O + +The DT B-NP +programs NNS I-NP +will MD B-VP +be VB I-VP +written VBN I-VP +and CC I-VP +produced VBN I-VP +by IN B-PP +CNBC NNP B-NP +, , O +with IN B-SBAR +background NN B-NP +and CC I-NP +research NN I-NP +provided VBN B-VP +by IN B-PP +staff NN B-NP +from IN B-PP +U.S. NNP B-NP +News NNP I-NP +& CC I-NP +World NNP I-NP +Report NNP I-NP +. . O + +Skoal NNP B-NP +Daze NNP I-NP + +I PRP B-NP +'ve VBP B-VP +learned VBD I-VP +the DT B-NP +hard JJ I-NP +way NN I-NP +that IN B-SBAR +too RB B-NP +much JJ I-NP +booze NN I-NP +Takes VBZ B-VP +revenge NN B-NP +the DT B-NP +next JJ I-NP +day NN I-NP +about IN B-PP +nine CD B-NP +; : O +No DT B-NP +wonder NN I-NP +I PRP B-NP +say VBP B-VP +, , O +`` `` O +I PRP B-NP +drink VBP B-VP +to TO B-PP +your PRP$ B-NP +health NN I-NP +'' '' O +-- : O +It PRP B-NP +certainly RB B-ADVP +is VBZ B-VP +n't RB O +to TO B-PP +mine VB B-NP +! . O + +-- : B-NP +George NNP I-NP +O. NNP I-NP +Ludcke NNP I-NP +. . O + +Spaced NNP B-ADJP +Out IN I-ADJP + +Those DT B-NP +supermarket NN I-NP +tabloids NNS I-NP +Make VBP B-VP +me PRP B-NP +feel VBP B-VP +slow JJ B-ADJP +Because IN B-SBAR +I PRP B-NP +still RB B-ADVP +have VBP B-VP +n't RB I-VP +seen VBN I-VP + +-- : B-NP +Bruce NNP I-NP +Kafaroff NNP I-NP +. . O + +Daffynition NN B-NP + +Repression NN B-NP +: : O +emote VB B-NP +control NN I-NP +. . O + +-- : B-NP +Daisy NNP I-NP +Brown NNP I-NP +. . O + +Weyerhaeuser NNP B-NP +Co. NNP I-NP +reported VBD B-VP +a DT B-NP +one-time JJ I-NP +gain NN I-NP +and CC O +strong JJ B-NP +wood-product NN I-NP +sales NNS I-NP +that WDT B-NP +offset VBP B-VP +weakness NN B-NP +in IN B-PP +pulp NN B-NP +and CC I-NP +paper NN I-NP +to TO B-VP +fuel VB I-VP +a DT B-NP +15 CD I-NP +% NN I-NP +jump NN I-NP +in IN B-PP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +to TO B-PP +$ $ B-NP +166.8 CD I-NP +million CD I-NP +, , O +or CC O +78 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +In IN B-PP +the DT B-NP +1988 CD I-NP +third JJ I-NP +quarter NN I-NP +, , O +the DT B-NP +forest-products NNS I-NP +company NN I-NP +reported VBD B-VP +profit NN B-NP +of IN B-PP +$ $ B-NP +144.9 CD I-NP +million CD I-NP +, , O +or CC O +69 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +Sales NNS B-NP +rose VBD B-VP +9 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +2.57 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +2.36 CD I-NP +billion CD I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +the DT B-NP +company NN I-NP +posted VBD B-VP +a DT B-NP +14 CD I-NP +% NN I-NP +rise NN I-NP +in IN B-PP +profit NN B-NP +to TO B-PP +$ $ B-NP +469.8 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +2.21 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +410.3 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.95 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Sales NNS B-NP +rose VBD B-VP +9 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +7.54 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +6.95 CD I-NP +billion CD I-NP +. . O + +Results NNS B-NP +for IN B-PP +the DT B-NP +1989 CD I-NP +third JJ I-NP +quarter NN I-NP +and CC I-NP +nine CD I-NP +months NNS I-NP +include VBP B-VP +a DT B-NP +pretax JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +33 CD I-NP +million CD I-NP +from IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +business NN I-NP +improvement NN I-NP +and CC I-NP +refocusing NN I-NP +program NN I-NP +, , O +and CC O +a DT B-NP +gain NN I-NP +of IN B-PP +$ $ B-NP +49 CD I-NP +million CD I-NP +on IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +a DT B-NP +subsidiary NN I-NP +'s POS B-NP +common JJ I-NP +stock NN I-NP +. . O + +Forest-products NNS B-NP +operations NNS I-NP +strengthened VBN B-VP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +, , O +while IN B-SBAR +paper NN B-NP +operations NNS I-NP +were VBD B-VP +dogged VBN I-VP +by IN B-PP +higher JJR B-NP +costs NNS I-NP +, , O +soft JJ B-NP +newsprint NN I-NP +exports NNS I-NP +and CC O +a DT B-NP +strong JJ I-NP +Japanese JJ I-NP +yen NN I-NP +. . O + +Some DT B-NP +competing VBG I-NP +forest-products NNS I-NP +firms NNS I-NP +have VBP B-VP +recently RB I-VP +reported VBN I-VP +improved VBN B-NP +results NNS I-NP +due JJ B-ADJP +to TO B-PP +strong JJ B-NP +pulp NN I-NP +and CC I-NP +paper NN I-NP +business NN I-NP +. . O + +Weyerhaeuser NNP B-NP +'s POS B-NP +pulp NN I-NP +and CC I-NP +paper NN I-NP +operations NNS I-NP +were VBD B-VP +up IN B-ADVP +for IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +but CC O +full-year JJ B-NP +performance NN I-NP +depends VBZ B-VP +on IN B-PP +the DT B-NP +balance NN I-NP +of IN B-PP +operating VBG B-NP +and CC I-NP +maintenance NN I-NP +costs NNS I-NP +, , O +plus CC O +pricing NN B-NP +of IN B-PP +certain JJ B-NP +products NNS I-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +. . O + +Looking VBG B-VP +ahead RB B-ADVP +to TO B-PP +the DT B-NP +fourth JJ I-NP +quarter NN I-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +export NN B-NP +log NN I-NP +and CC I-NP +lumber NN I-NP +markets NNS I-NP +will MD B-VP +be VB I-VP +weak JJ B-ADJP +, , O +while IN B-SBAR +panel NN B-NP +and CC I-NP +plywood NN I-NP +markets NNS I-NP +will MD B-VP +be VB I-VP +stronger JJR B-ADJP +. . O + +Pulp NNP B-NP +and CC I-NP +paper NN I-NP +performance NN I-NP +depends VBZ B-VP +on IN B-PP +cost NN B-NP +and CC I-NP +price NN I-NP +variables NNS I-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +. . O + +Bankers NNP B-NP +Trust NNP I-NP +New NNP I-NP +York NNP I-NP +Corp. NNP I-NP +became VBD B-VP +the DT B-NP +latest JJS I-NP +major JJ I-NP +U.S. NNP I-NP +bank NN I-NP +to TO B-VP +increase VB I-VP +reserves NNS B-NP +for IN B-PP +its PRP$ B-NP +loans NNS I-NP +to TO B-PP +less-developed JJ B-NP +countries NNS I-NP +, , O +making VBG B-VP +a DT B-NP +$ $ I-NP +1.6 CD I-NP +billion CD I-NP +third-quarter JJ I-NP +addition NN I-NP +to TO B-PP +its PRP$ B-NP +provision NN I-NP +. . O + +The DT B-NP +bank NN I-NP +also RB B-ADVP +said VBD B-VP +it PRP B-NP +expects VBZ B-VP +to TO I-VP +report VB I-VP +a DT B-NP +$ $ I-NP +1.42 CD I-NP +billion CD I-NP +loss NN I-NP +for IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +and CC O +a DT B-NP +loss NN I-NP +for IN B-PP +the DT B-NP +full JJ I-NP +year NN I-NP +. . O + +The DT B-NP +new JJ I-NP +reserves NNS I-NP +bring VBP B-VP +the DT B-NP +company NN I-NP +'s POS B-NP +provision NN I-NP +for IN B-PP +loans NNS B-NP +to TO B-PP +Third NNP B-NP +World NNP I-NP +countries NNS I-NP +to TO B-PP +$ $ B-NP +2.6 CD I-NP +billion CD I-NP +, , O +or CC O +85 CD B-NP +% NN I-NP +of IN B-PP +Bankers NNP B-NP +Trust NNP I-NP +'s POS B-NP +medium NN B-ADJP +and CC I-ADJP +long-term JJ I-ADJP +loans NNS B-NP +to TO B-PP +these DT B-NP +countries NNS I-NP +. . O + +`` `` O +Step NN B-VP +up IN B-ADVP +to TO B-PP +the DT B-NP +plate NN I-NP +and CC O +take VB B-VP +the DT B-NP +big JJ I-NP +swing NN I-NP +. . O + +Get VB B-VP +the DT B-NP +problem NN I-NP +behind IN B-PP +you PRP B-NP +and CC O +do VBP B-VP +n't RB I-VP +look VB I-VP +back RB B-ADVP +, , O +'' '' O +said VBD B-VP +James NNP B-NP +J. NNP I-NP +McDermott NNP I-NP +, , O +analyst NN B-NP +at IN B-PP +Keefe NNP B-NP +, , I-NP +Bruyette NNP I-NP +& CC I-NP +Woods NNP I-NP +, , O +in IN B-PP +approving VBG B-VP +of IN B-PP +the DT B-NP +move NN I-NP +. . O + +Bankers NNP B-NP +Trust NNP I-NP +`` `` O +has VBZ B-VP +had VBN I-VP +the DT B-NP +capacity NN I-NP +to TO B-VP +do VB I-VP +this DT B-NP +for IN B-PP +some DT B-NP +time NN I-NP +, , O +'' '' O +the DT B-NP +analyst NN I-NP +said VBD B-VP +. . O + +He PRP B-NP +expects VBZ B-VP +Citicorp NNP B-NP +to TO B-VP +take VB I-VP +a DT B-NP +similar JJ I-NP +step NN I-NP +this DT B-NP +year NN I-NP +. . O + +Citicorp NN B-NP +yesterday NN B-NP +reported VBD B-VP +a DT B-NP +9 CD I-NP +% NN I-NP +third-quarter JJ I-NP +earnings NNS I-NP +drop NN I-NP +, , O +which WDT B-NP +analysts NNS B-NP +called VBD B-VP +a DT B-ADJP +bit NN I-ADJP +disappointing JJ I-ADJP +, , O +while IN B-SBAR +Manufacturers NNP B-NP +Hanover NNP I-NP +Corp. NNP I-NP +posted VBD B-VP +a DT B-NP +$ $ I-NP +789 CD I-NP +million CD I-NP +loss NN I-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +after IN B-PP +adding VBG B-VP +$ $ B-NP +950 CD I-NP +million CD I-NP +to TO B-PP +its PRP$ B-NP +reserve NN I-NP +for IN B-PP +loans NNS B-NP +to TO B-PP +less-developed JJ B-NP +countries NNS I-NP +. . O + +Three CD B-NP +other JJ I-NP +major JJ I-NP +U.S. NNP I-NP +banks NNS I-NP +posted VBD B-VP +earnings NNS B-NP +increases NNS I-NP +. . O + +Wells NNP B-NP +Fargo NNP I-NP +& CC I-NP +Co. NNP I-NP +of IN B-PP +San NNP B-NP +Francisco NNP I-NP +posted VBD B-VP +a DT B-NP +17 CD I-NP +% NN I-NP +jump NN I-NP +. . O + +PNC NNP B-NP +Financial NNP I-NP +Corp. NNP I-NP +, , O +the DT B-NP +parent NN I-NP +of IN B-PP +Pittsburgh NNP B-NP +National NNP I-NP +Bank NNP I-NP +, , O +reported VBD B-VP +net JJ B-NP +income NN I-NP +climbed VBD B-VP +9.8 CD B-NP +% NN I-NP +, , O +while IN B-SBAR +net JJ B-NP +for IN B-PP +Banc NNP B-NP +One CD I-NP +Corp. NNP I-NP +of IN B-PP +Columbus NNP B-NP +, , O +Ohio NNP B-NP +, , O +grew VBD B-VP +3.8 CD B-NP +% NN I-NP +. . O + +Citicorp NNP B-NP + +Analysts NNS B-NP +were VBD B-VP +only RB I-VP +slightly RB I-VP +disappointed VBN I-VP +by IN B-PP +Citicorp NNP B-NP +'s POS B-NP +numbers NNS I-NP +. . O + +`` `` O +There EX B-NP +'s VBZ B-VP +nothing NN B-NP +in IN B-PP +here RB B-NP +that DT B-NP +'s VBZ B-VP +horrible NN B-ADJP +and CC O +nothing NN B-NP +to TO B-VP +make VB I-VP +you PRP B-NP +think VB B-VP +they PRP B-NP +'re VBP B-VP +setting VBG I-VP +the DT B-NP +world NN I-NP +on IN B-PP +fire NN B-NP +, , O +'' '' O +said VBD B-VP +Carole NNP B-NP +Berger NNP I-NP +, , O +analyst NN B-NP +for IN B-PP +C.J. NNP B-NP +Lawrence NNP I-NP +, , I-NP +Morgan NNP I-NP +Grenfell NNP I-NP +Inc NNP I-NP +. . O + +Earnings NNS B-NP +from IN B-PP +the DT B-NP +bank NN I-NP +'s POS B-NP +global JJ I-NP +consumer NN I-NP +business NN I-NP +grew VBD B-VP +27 CD B-NP +% NN I-NP +. . O + +`` `` O +The DT B-NP +consumer NN I-NP +business NN I-NP +continues VBZ B-VP +to TO I-VP +drive VB I-VP +the DT B-NP +earnings NNS I-NP +stream NN I-NP +, , O +'' '' O +said VBD B-VP +Mr. NNP B-NP +McDermott NNP I-NP +of IN B-PP +Keefe NNP B-NP +, , I-NP +Bruyette NNP I-NP +& CC I-NP +Woods NNP I-NP +. . O + +Corporate JJ B-NP +finance NN I-NP +and CC I-NP +trading NN I-NP +results NNS I-NP +in IN B-PP +member NN B-NP +countries NNS I-NP +of IN B-PP +the DT B-NP +Organization NNP I-NP +for IN B-PP +Economic NNP B-NP +Cooperation NNP I-NP +and CC I-NP +Development NNP I-NP +were VBD B-VP +`` `` O +relatively RB B-ADJP +flat JJ I-ADJP +, , O +sometimes RB B-ADJP +choppy JJ I-ADJP +, , O +'' '' O +the DT B-NP +bank NN I-NP +said VBD B-VP +, , O +and CC O +profit NN B-NP +for IN B-PP +the DT B-NP +area NN I-NP +sank VBD B-VP +27 CD B-NP +% NN I-NP +. . O + +The DT B-NP +cross-border JJ I-NP +loan NN I-NP +portfolio NN I-NP +reflected VBD B-VP +`` `` O +adjustment NN B-NP +problems NNS I-NP +and CC O +episodic JJ B-NP +payment NN I-NP +patterns NNS I-NP +, , O +'' '' O +the DT B-NP +bank NN I-NP +said VBD B-VP +no DT B-NP +interest NN I-NP +payments NNS I-NP +from IN B-PP +Argentina NNP B-NP +in IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +and CC O +none NN B-NP +from IN B-PP +Brazil NNP B-NP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +, , O +while IN B-SBAR +Venezuela NNP B-NP +brought VBD B-VP +itself PRP B-NP +`` `` O +substantially RB B-ADJP +current JJ I-ADJP +. . O +'' '' O + +Overall RB B-ADVP +, , O +the DT B-NP +portfolio NN I-NP +narrowed VBD B-VP +its PRP$ B-NP +quarterly JJ I-NP +loss NN I-NP +to TO B-PP +$ $ B-NP +70 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +80 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +`` `` O +People NNS B-NP +were VBD B-VP +waiting VBG I-VP +to TO I-VP +see VB I-VP +if IN B-SBAR +we PRP B-NP +would MD B-VP +take VB I-VP +an DT B-NP +additional JJ I-NP +provision NN I-NP +'' '' O +for IN B-PP +medium-term JJ B-NP +and CC I-NP +long-term JJ I-NP +loans NNS I-NP +to TO B-PP +less-developed JJ B-NP +countries NNS I-NP +, , O +a DT B-NP +Citicorp NNP I-NP +spokesman NN I-NP +said VBD B-VP +. . O + +But CC O +he PRP B-NP +reiterated VBD B-VP +the DT B-NP +bank NN I-NP +'s POS B-NP +position NN I-NP +that IN B-SBAR +it PRP B-NP +is VBZ B-VP +comfortable JJ B-ADJP +with IN B-PP +the DT B-NP +current JJ I-NP +level NN I-NP +of IN B-PP +$ $ B-NP +2.6 CD I-NP +billion CD I-NP +, , O +covering VBG B-VP +about IN B-NP +30 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +$ $ I-NP +8.9 CD I-NP +billion CD I-NP +of IN B-PP +such JJ B-NP +loans NNS I-NP +outstanding JJ B-ADJP +. . O + +Ronald NNP B-NP +I. NNP I-NP +Mandle NNP I-NP +, , O +analyst NN B-NP +at IN B-PP +Sanford NNP B-NP +C. NNP I-NP +Bernstein NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +called VBN B-VP +Citicorp NNP B-NP +'s POS B-NP +venture-capital JJ I-NP +gains NNS I-NP +of IN B-PP +$ $ B-NP +93 CD I-NP +million CD I-NP +before IN B-PP +taxes NNS B-NP +`` `` O +strong JJ B-ADJP +. . O +'' '' O + +A DT B-NP +`` `` I-NP +concerning VBG I-NP +'' '' I-NP +item NN I-NP +the DT B-NP +analyst NN I-NP +cited VBD B-VP +was VBD B-VP +the DT B-NP +10 CD I-NP +% NN I-NP +jump NN I-NP +in IN B-PP +expenses NNS B-NP +, , O +which WDT B-NP +the DT B-NP +bank NN I-NP +attributes NNS B-VP +to TO B-PP +costs NNS B-NP +of IN B-PP +expanding VBG B-VP +both DT O +its PRP$ B-NP +consumer NN I-NP +credit-card NN I-NP +operations NNS I-NP +and CC O +its PRP$ B-NP +overseas JJ I-NP +branch NN I-NP +business NN I-NP +. . O + +Citicorp NNP B-NP +'s POS B-NP +spokesman NN I-NP +said VBD B-VP +, , O +however RB B-ADVP +, , O +that IN B-SBAR +the DT B-NP +bank NN I-NP +is VBZ B-VP +maintaining VBG I-VP +those DT B-NP +expenses NNS I-NP +in IN B-PP +proportion NN B-NP +to TO B-PP +revenue NN B-NP +growth NN I-NP +. . O + +Wells NNP B-NP +Fargo NNP I-NP + +Wells NNP B-NP +Fargo NNP I-NP +continued VBD B-VP +to TO I-VP +generate VB I-VP +one CD B-NP +of IN B-PP +the DT B-NP +highest JJS I-NP +profit NN I-NP +margins NNS I-NP +among IN B-PP +major JJ B-NP +banks NNS I-NP +, , O +minimizing VBG B-VP +a DT B-NP +drop NN I-NP +in IN B-PP +net JJ B-NP +interest NN I-NP +margin NN I-NP +with IN B-PP +13 CD B-NP +% NN I-NP +third-quarter JJ I-NP +growth NN I-NP +in IN B-PP +high-yielding JJ B-NP +business NN I-NP +loans NNS I-NP +and CC O +similar JJ B-NP +growth NN I-NP +in IN B-PP +mortgages NNS B-NP +. . O + +Its PRP$ B-NP +margin NN I-NP +fell VBD B-VP +only RB B-NP +seven CD I-NP +basis NN I-NP +points NNS I-NP +, , O +or CC O +7\/100ths CD B-NP +of IN B-PP +a DT B-NP +percentage NN I-NP +point NN I-NP +, , O +from IN B-PP +a DT B-NP +year NN I-NP +ago RB B-ADVP +, , O +compared VBN B-PP +with IN B-PP +a DT B-NP +13-point JJ I-NP +drop NN I-NP +at IN B-PP +Security NNP B-NP +Pacific NNP I-NP +Corp. NNP I-NP +and CC O +much RB B-NP +larger JJR I-NP +declines NNS I-NP +among IN B-PP +banks NNS B-NP +in IN B-PP +other JJ B-NP +parts NNS I-NP +of IN B-PP +the DT B-NP +country NN I-NP +. . O + +As IN B-PP +a DT B-NP +result NN I-NP +, , O +Wells NNP B-NP +Fargo NNP I-NP +'s POS B-NP +net JJ I-NP +interest NN I-NP +income NN I-NP +rose VBD B-VP +$ $ B-NP +36.3 CD I-NP +million CD I-NP +, , O +or CC O +7 CD B-NP +% NN I-NP +, , O +to TO B-PP +$ $ B-NP +537 CD I-NP +million CD I-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +. . O + +Non-interest JJ B-NP +income NN I-NP +fell VBD B-VP +slightly RB B-ADVP +to TO B-PP +$ $ B-NP +191.9 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +193.3 CD I-NP +million CD I-NP +, , O +while IN B-SBAR +Wells NNP B-NP +Fargo NNP I-NP +continued VBD B-VP +to TO I-VP +rigorously RB I-VP +control VBP I-VP +non-interest JJ B-NP +expense NN I-NP +, , O +which WDT B-NP +was VBD B-VP +almost RB B-ADJP +flat JJ I-ADJP +at IN B-PP +$ $ B-NP +393.4 CD I-NP +million CD I-NP +. . O + +The DT B-NP +combination NN I-NP +of IN B-PP +solid JJ B-NP +loan NN I-NP +growth NN I-NP +with IN B-PP +tight JJ B-NP +expense NN I-NP +control NN I-NP +gave VBD B-VP +Wells NNP B-NP +Fargo NNP I-NP +a DT B-NP +1.25 CD I-NP +% NN I-NP +return NN I-NP +on IN B-PP +average JJ B-NP +assets NNS I-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +, , O +about IN B-NP +40 CD I-NP +% NN I-NP +higher JJR B-ADJP +than IN B-PP +Security NNP B-NP +Pacific NNP I-NP +'s POS B-NP +and CC O +a DT B-NP +profit NN I-NP +ratio NN I-NP +matched VBN B-VP +by IN B-PP +only RB B-NP +two CD I-NP +or CC I-NP +three CD I-NP +other JJ B-NP +major JJ I-NP +banks NNS I-NP +in IN B-NP +the DT B-NP +U.S. NNP I-NP +. . O + +Wells NNP B-NP +Fargo NNP I-NP +'s POS B-NP +return NN I-NP +on IN B-PP +equity NN B-NP +increased VBN B-VP +to TO B-PP +24.4 CD B-NP +% NN I-NP +from IN B-PP +23.8 CD B-NP +% NN I-NP +. . O + +Wells NNP B-NP +Fargo NNP I-NP +has VBZ B-VP +sold VBN I-VP +all DT B-NP +of IN B-PP +its PRP$ B-NP +non-trade JJ I-NP +loans NNS I-NP +made VBN B-VP +to TO B-PP +less-developed JJ B-NP +countries NNS I-NP +, , O +and CC O +managed VBD B-VP +to TO I-VP +partly RB I-VP +reverse VB I-VP +the DT B-NP +sharp JJ I-NP +rise NN I-NP +in IN B-PP +domestic JJ B-NP +non-accrual JJ I-NP +loans NNS I-NP +, , O +which WDT B-NP +fell VBD B-VP +8 CD B-NP +% NN I-NP +from IN B-PP +the DT B-NP +previous JJ I-NP +quarter NN I-NP +to TO B-PP +$ $ B-NP +806.8 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +880.9 CD I-NP +million CD I-NP +. . O + +But CC O +the DT B-NP +amount NN I-NP +was VBD B-VP +still RB O +39 CD B-NP +% NN I-NP +higher JJR B-ADJP +than IN B-PP +the DT B-NP +year-ago JJ I-NP +level NN I-NP +, , O +and CC O +25 CD B-NP +% NN I-NP +higher JJR B-ADJP +as IN B-PP +a DT B-NP +percentage NN I-NP +of IN B-PP +total JJ B-NP +loans NNS I-NP +. . O + +That DT B-NP +trend NN I-NP +, , O +and CC O +Wells NNP B-NP +Fargo NNP I-NP +'s POS B-NP +heavy JJ I-NP +exposure NN I-NP +to TO B-PP +leveraged JJ B-NP +buy-outs NNS I-NP +, , O +are VBP B-VP +about IN B-NP +the DT I-NP +only RB I-NP +worries VBZ I-NP +analysts NNS B-NP +have VBP B-VP +about IN B-PP +Wells NNP B-NP +Fargo NNP I-NP +'s POS B-NP +financial JJ I-NP +picture NN I-NP +. . O + +Wells NNP B-NP +Fargo NNP I-NP +is VBZ B-VP +rebuilding VBG I-VP +its PRP$ B-NP +loan-loss NN I-NP +reserve NN I-NP +, , O +which WDT B-NP +increased VBD B-VP +to TO B-PP +$ $ B-NP +711 CD I-NP +million CD I-NP +at IN B-PP +Sept. NNP B-NP +30 CD I-NP +from IN B-PP +$ $ B-NP +664 CD I-NP +million CD I-NP +the DT B-NP +previous JJ I-NP +quarter NN I-NP +but CC O +was VBD B-VP +down RB B-ADVP +from IN B-PP +$ $ B-NP +852 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +, , O +when WRB B-ADVP +the DT B-NP +bank NN I-NP +still RB B-ADVP +had VBD B-VP +some DT B-NP +shaky JJ I-NP +foreign JJ I-NP +loans NNS I-NP +. . O + +Manufacturers NNP B-NP +Hanover NNP I-NP + +Manufacturers NNP B-NP +Hanover NNP I-NP +said VBD B-VP +that IN B-SBAR +excluding VBG B-PP +the DT B-NP +addition NN I-NP +to TO B-PP +its PRP$ B-NP +reserves NNS I-NP +, , O +certain JJ B-NP +tax NN I-NP +benefits NNS I-NP +, , O +and CC O +a DT B-NP +one-time JJ I-NP +$ $ I-NP +16 CD I-NP +million CD I-NP +gain NN I-NP +on IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +an DT B-NP +interest NN I-NP +in IN B-PP +a DT B-NP +foreign JJ I-NP +leasing NN I-NP +company NN I-NP +, , O +third-quarter JJ B-NP +earnings NNS I-NP +were VBD B-VP +$ $ B-NP +75 CD I-NP +million CD I-NP +. . O + +The DT B-NP +comparable JJ I-NP +year-earlier JJ I-NP +number NN I-NP +was VBD B-VP +$ $ B-NP +56 CD I-NP +million CD I-NP +, , O +a DT B-NP +spokesman NN I-NP +said VBD B-VP +. . O + +The DT B-NP +bank NN I-NP +'s POS B-NP +additional JJ I-NP +provisions NNS I-NP +brought VBD B-VP +reserves NNS B-NP +for IN B-PP +loans NNS B-NP +to TO B-PP +less-developed JJ B-NP +countries NNS I-NP +to TO B-PP +$ $ B-NP +2.4 CD I-NP +billion CD I-NP +, , O +covering VBG B-VP +36 CD B-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +medium NN I-NP +and CC I-NP +long-term JJ I-NP +loans NNS I-NP +outstanding JJ B-ADJP +to TO B-PP +these DT B-NP +nations NNS I-NP +. . O + +The DT B-NP +net JJ I-NP +interest NN I-NP +margin NN I-NP +- : O +the DT B-NP +difference NN I-NP +between IN B-PP +the DT B-NP +bank NN I-NP +'s POS B-NP +cost NN I-NP +of IN B-PP +funds NNS B-NP +and CC O +what WP B-NP +it PRP B-NP +receives VBZ B-VP +as IN B-PP +interest NN B-NP +payments NNS I-NP +-- : O +improved VBN B-VP +in IN B-PP +the DT B-NP +quarter NN I-NP +, , O +as IN B-SBAR +did VBD O +certain JJ B-NP +areas NNS I-NP +of IN B-PP +wholesale JJ B-NP +banking NN I-NP +. . O + +Fees NNS B-NP +from IN B-PP +syndicating VBG B-NP +loans NNS I-NP +dropped VBD B-VP +48 CD B-NP +% NN I-NP +, , O +to TO B-PP +$ $ B-NP +21 CD I-NP +million CD I-NP +. . O + +`` `` O +We PRP B-NP +did VBD B-VP +n't RB I-VP +take VB I-VP +part NN B-NP +in IN B-PP +a DT B-NP +lot NN I-NP +of IN B-PP +deals NNS B-NP +'' '' O +in IN B-PP +the DT B-NP +quarter NN I-NP +`` `` O +because IN B-SBAR +their PRP$ B-NP +credit NN I-NP +quality NN I-NP +was VBD B-VP +poor JJ B-ADJP +, , O +'' '' O +the DT B-NP +spokesman NN I-NP +said VBD B-VP +. . O + +Expenses NNS B-NP +unrelated JJ B-ADJP +to TO B-PP +interest VB B-NP +rose VBD B-VP +5.4 CD B-NP +% NN I-NP +, , O +to TO B-PP +$ $ B-NP +541 CD I-NP +million CD I-NP +. . O + +PNC NNP B-NP +Financial NNP I-NP + +PNC NNP B-NP +Financial NNP I-NP +cited VBD B-VP +higher JJR B-NP +income NN I-NP +from IN B-PP +sources NNS B-NP +unrelated JJ B-ADJP +to TO B-PP +interest VB B-NP +and CC O +said VBD B-VP +it PRP B-NP +continues VBZ B-VP +to TO I-VP +cut VB I-VP +costs NNS B-NP +. . O + +Net JJ B-NP +interest NN I-NP +income NN I-NP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +edged VBD B-VP +up IN B-PRT +1.4 CD B-NP +% NN I-NP +, , O +to TO B-PP +$ $ B-NP +317.7 CD I-NP +million CD I-NP +. . O + +Trust NN B-NP +income NN I-NP +grew VBD B-VP +15 CD B-NP +% NN I-NP +, , O +to TO B-PP +$ $ B-NP +49.9 CD I-NP +million CD I-NP +, , O +while IN B-SBAR +service NN B-NP +charges NNS I-NP +, , O +fees NNS B-NP +and CC O +commissions NNS B-NP +increased VBN B-VP +22 CD B-NP +% NN I-NP +, , O +to TO B-PP +$ $ B-NP +79.4 CD I-NP +million CD I-NP +. . O + +The DT B-NP +bank NN I-NP +'s POS B-NP +total JJ I-NP +allowance NN I-NP +for IN B-PP +credit NN B-NP +losses NNS I-NP +was VBD B-VP +$ $ B-NP +502.1 CD I-NP +million CD I-NP +, , O +or CC O +1.82 CD B-NP +% NN I-NP +of IN B-PP +total JJ B-NP +loans NNS I-NP +. . O + +Prime NNP B-NP +Minister NNP I-NP +Rajiv NNP I-NP +Gandhi NNP I-NP +set VBD B-VP +a DT B-NP +date NN I-NP +next JJ B-NP +month NN I-NP +for IN B-PP +general JJ B-NP +elections NNS I-NP +that IN B-NP +some DT B-NP +analysts NNS I-NP +say VBP B-VP +could MD B-VP +cost VB I-VP +him PRP B-NP +and CC O +his PRP$ O +ruling NN O +Congress NNP O +-LRB- ( O +I PRP B-NP +-RRB- ) O +Party NNP B-NP +control NN B-NP +of IN B-PP +the DT B-NP +government NN I-NP +. . O + +Other JJ B-NP +analysts NNS I-NP +say VBP B-VP +the DT B-NP +Indian NNP I-NP +leader NN I-NP +could MD B-VP +retain VB I-VP +control NN B-NP +with IN B-PP +a DT B-NP +slim JJ I-NP +majority NN I-NP +or CC O +be VB B-VP +forced VBN I-VP +to TO I-VP +rule VB I-VP +as IN B-PP +the DT B-NP +dominant JJ I-NP +partner NN I-NP +in IN B-PP +a DT B-NP +coalition NN I-NP +with IN B-PP +other JJ B-NP +parties NNS I-NP +. . O + +Elections NNS B-NP +in IN B-PP +this DT B-NP +large JJ I-NP +, , I-NP +diverse JJ I-NP +and CC I-NP +passionate JJ I-NP +nation NN I-NP +are VBP B-VP +always RB B-ADVP +hard JJ B-ADJP +to TO B-VP +predict VB I-VP +. . O + +Much RB B-NP +depends VBZ B-VP +on IN B-PP +the DT B-NP +opposition NN I-NP +, , O +a DT B-NP +loose JJ I-NP +group NN I-NP +of IN B-PP +regional JJ B-NP +and CC I-NP +ideological JJ I-NP +parties NNS I-NP +led VBN B-VP +by IN B-PP +former JJ B-NP +Gandhi NNP I-NP +cabinet NN I-NP +minister NNP I-NP +Vishwanath NNP B-NP +Pratap NNP I-NP +Singh NNP I-NP +. . O + +The DT B-NP +biggest JJS I-NP +certainty NN I-NP +is VBZ B-VP +that IN B-SBAR +the DT B-NP +elections NNS I-NP +will MD B-VP +be VB I-VP +a DT B-NP +vote NN I-NP +for IN B-PP +or CC I-PP +against IN I-PP +Mr. NNP B-NP +Gandhi NNP I-NP +and CC O +his PRP$ B-NP +five CD I-NP +years NNS I-NP +in IN B-PP +power NN B-NP +-- : O +five CD B-NP +years NNS I-NP +of IN B-PP +ups NNS B-NP +and CC O +downs NNS B-NP +, , O +promises VBZ B-NP +and CC O +disappointments NNS B-NP +and CC O +wide JJ B-NP +fluctuations NNS I-NP +in IN B-PP +popularity NN B-NP +. . O + +Yesterday NN B-NP +, , O +four CD B-NP +days NNS I-NP +after IN B-NP +an DT B-NP +unusual JJ I-NP +parliamentary JJ I-NP +defeat NN I-NP +for IN B-PP +the DT B-NP +ruling NN I-NP +party NN I-NP +, , O +Mr. NNP B-NP +Gandhi NNP I-NP +called VBD B-VP +elections NNS B-NP +for IN B-PP +the DT B-NP +lower JJR I-NP +house NN I-NP +of IN B-PP +Parliament NNP B-NP +on IN B-PP +Nov. NNP B-NP +22 CD I-NP +and CC I-NP +24 CD I-NP +. . O + +The DT B-NP +elections NNS I-NP +will MD B-VP +be VB I-VP +held VBN I-VP +in IN B-PP +different JJ B-NP +states NNS I-NP +on IN B-PP +one CD B-NP +of IN B-PP +the DT B-NP +two CD I-NP +days NNS I-NP +. . O + +-LRB- ( O +The DT B-NP +lower JJR I-NP +house NN I-NP +'s POS B-NP +five-year JJ I-NP +term NN I-NP +expires VBZ B-VP +in IN B-PP +January NNP B-NP +; : O +the DT B-NP +Parliament NNP I-NP +'s POS B-NP +upper JJ I-NP +house NN I-NP +is VBZ B-VP +appointed VBN I-VP +. . O +-RRB- ) O + +The DT B-NP +elections NNS I-NP +will MD B-VP +be VB I-VP +a DT B-NP +rigorous JJ I-NP +test NN I-NP +for IN B-PP +the DT B-NP +45-year-old JJ I-NP +prime JJ I-NP +minister NN I-NP +and CC O +Congress NNP B-NP +-LRB- ( I-NP +I PRP I-NP +-RRB- ) O +, , O +which WDT B-NP +in IN B-PP +various JJ B-NP +forms NNS I-NP +has VBZ B-VP +ruled VBN I-VP +for IN B-PP +40 CD O +of IN O +India NNP B-NP +'s POS B-NP +42 CD I-NP +years NNS I-NP +of IN B-PP +independence NN B-NP +. . O + +After IN B-PP +a DT B-NP +landslide NN I-NP +win NN I-NP +in IN B-PP +1984 CD B-NP +in IN B-PP +polls NNS B-NP +held VBN B-VP +after IN B-PP +the DT B-NP +assassination NN I-NP +of IN B-PP +his PRP$ B-NP +mother NN I-NP +, , O +Indira NNP B-NP +Gandhi NNP I-NP +, , O +Mr. NNP B-NP +Gandhi NNP I-NP +saw VBD B-VP +his PRP$ B-NP +popularity NN I-NP +begin VB B-VP +a DT B-NP +roller NN I-NP +coaster NN I-NP +ride NN I-NP +. . O + +His PRP$ B-NP +early JJ I-NP +promises NNS I-NP +to TO B-VP +make VB I-VP +India NNP B-NP +a DT B-NP +modern JJ I-NP +nation NN I-NP +remain VB B-VP +bogged VBD B-ADJP +down RB I-ADJP +in IN B-PP +bloated JJ B-NP +bureaucracy NN I-NP +. . O + +His PRP$ B-NP +pledge NN I-NP +to TO B-VP +clean VB I-VP +up IN B-PRT +local JJ B-NP +administration NN I-NP +and CC O +Indian NNP B-NP +politics NNS I-NP +, , O +including VBG B-PP +his PRP$ B-NP +own JJ I-NP +party NN I-NP +, , O +went VBD B-VP +unfulfilled JJ B-ADJP +. . O + +His PRP$ B-NP +`` `` I-NP +Mr. NNP I-NP +Clean NNP I-NP +'' '' I-NP +image NN I-NP +was VBD B-VP +muddied VBN I-VP +by IN B-PP +an DT B-NP +arms-kickback NN I-NP +scandal NN I-NP +, , O +which WDT B-NP +will MD B-VP +be VB I-VP +a DT B-NP +major JJ I-NP +campaign NN I-NP +issue NN I-NP +. . O + +Some DT B-NP +analysts NNS I-NP +predict VBP B-VP +that DT B-NP +disappointment NN B-NP +in IN B-PP +Mr. NNP B-NP +Gandhi NNP I-NP +'s POS B-NP +spent VBD I-NP +pledge NN I-NP +to TO B-VP +reduce VB I-VP +corruption NN B-NP +and CC O +heavy-handed JJ B-NP +local JJ I-NP +government NN I-NP +will MD B-VP +crest VB I-VP +at IN B-PP +the DT B-NP +polls NNS I-NP +. . O + +`` `` O +There EX B-NP +'s VBZ B-VP +a DT B-NP +wide JJ I-NP +feeling NN I-NP +of IN B-PP +indignation NN B-NP +across IN B-PP +the DT B-NP +country NN I-NP +, , O +'' '' O +says VBZ B-VP +Bhabani NNP B-NP +Sen NNP I-NP +Gupta NNP I-NP +of IN B-PP +the DT B-NP +Center NNP I-NP +for IN B-PP +Policy NNP B-NP +Research NNP I-NP +, , O +in IN B-PP +New NNP B-NP +Delhi NNP I-NP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +the DT B-NP +people NNS I-NP +will MD B-VP +be VB I-VP +judging VBG I-VP +the DT B-NP +regime NN I-NP +by IN B-PP +a DT B-NP +petty JJ I-NP +policeman NN I-NP +, , O +by IN B-PP +a DT B-NP +corrupt JJ I-NP +revenue NN I-NP +collector NN I-NP +. . O + +This DT B-NP +could MD B-VP +be VB I-VP +a DT B-NP +big JJ I-NP +protest NN I-NP +against IN B-PP +an DT B-NP +administrative JJ I-NP +failure NN I-NP +. . O +'' '' O + +Even RB B-ADVP +if IN B-SBAR +the DT B-NP +Congress NNP I-NP +-LRB- ( O +I PRP B-NP +-RRB- ) O +retains VBZ B-VP +control NN B-NP +of IN B-PP +the DT B-NP +government NN I-NP +, , O +Mr. NNP B-NP +Gandhi NNP I-NP +'s POS B-NP +ability NN I-NP +to TO B-VP +push VB I-VP +through IN B-PP +major JJ B-NP +initiatives NNS I-NP +might MD B-VP +be VB I-VP +hobbled VBN I-VP +by IN B-PP +a DT B-NP +thinner JJR I-NP +majority NN I-NP +. . O + +Economic JJ B-NP +analysts NNS I-NP +call VBP B-VP +his PRP$ B-NP +trail-blazing JJ I-NP +liberalization NN I-NP +of IN B-PP +the DT B-NP +Indian NNP I-NP +economy NN I-NP +incomplete JJ B-ADJP +, , O +and CC O +many JJ B-NP +are VBP B-VP +hoping VBG I-VP +for IN B-PP +major JJ B-NP +new JJ I-NP +liberalizations NNS I-NP +if IN B-SBAR +he PRP B-NP +is VBZ B-VP +returned VBN I-VP +firmly RB B-ADVP +to TO B-PP +power VB B-NP +. . O + +The DT B-NP +Lok NNP I-NP +Sabha NNP I-NP +, , O +or CC O +lower JJR B-NP +house NN I-NP +of IN B-PP +Parliament NNP B-NP +, , O +has VBZ B-VP +542 CD B-NP +elected VBN I-NP +and CC O +two CD B-NP +appointed VBN I-NP +seats NNS B-NP +. . O + +In IN B-PP +1984 CD B-NP +, , O +the DT B-NP +Congress NNP I-NP +-LRB- ( O +I PRP B-NP +-RRB- ) O +captured VBN B-VP +405 CD B-NP +seats NNS I-NP +, , O +the DT B-NP +largest JJS I-NP +victory NN I-NP +in IN B-PP +the DT B-NP +history NN I-NP +of IN B-PP +Indian NNP B-NP +democracy NN I-NP +. . O + +The DT B-NP +landslide NN I-NP +was VBD B-VP +fueled VBN I-VP +by IN B-PP +panic NN B-NP +that WDT B-NP +prevailed VBD B-VP +in IN B-PP +India NNP B-NP +at IN B-PP +the DT B-NP +time NN I-NP +. . O + +Mrs. NNP B-NP +Gandhi NNP I-NP +had VBD B-VP +been VBN I-VP +assassinated VBN I-VP +by IN B-PP +separatist JJ B-NP +Sikhs NNPS I-NP +, , O +and CC O +many JJ B-NP +Indians NNPS I-NP +feared VBD B-VP +their PRP$ B-NP +country NN I-NP +might MD B-VP +split VB I-VP +apart RB B-ADVP +. . O + +In IN B-PP +the DT B-NP +previous JJ I-NP +three CD I-NP +general JJ I-NP +elections NNS I-NP +, , O +similar JJ B-NP +national JJ I-NP +issues NNS I-NP +clinched VBD B-VP +the DT B-NP +vote NN I-NP +. . O + +In IN B-PP +1971 CD B-NP +, , O +the DT B-NP +Congress NNP I-NP +Party NNP I-NP +won VBD B-VP +after IN B-PP +India NNP B-NP +'s POS B-NP +victory NN I-NP +in IN B-PP +the DT B-NP +Bangladesh NNP I-NP +war NN I-NP +. . O + +In IN B-PP +1977 CD B-NP +, , O +Mrs. NNP B-NP +Gandhi NNP I-NP +was VBD B-VP +thrown VBN I-VP +out IN B-ADVP +of IN B-PP +office NN B-NP +after IN B-PP +her PRP$ B-NP +19-month JJ I-NP +emergency NN I-NP +rule NN I-NP +, , O +and CC O +in IN B-PP +1980 CD B-NP +, , O +after IN B-SBAR +her PRP$ B-NP +successors NNS I-NP +made VBD B-VP +a DT B-NP +mess NN I-NP +of IN B-PP +their PRP$ B-NP +three CD I-NP +years NNS I-NP +in IN B-PP +power NN B-NP +, , O +she PRP B-NP +was VBD B-VP +restored VBN I-VP +to TO B-PP +office NN B-NP +. . O + +Most JJS B-NP +political JJ I-NP +analysts NNS I-NP +say VBP B-VP +that IN B-SBAR +if IN B-SBAR +Mr. NNP B-NP +Gandhi NNP I-NP +'s POS B-NP +opposition NN I-NP +unites VBZ B-VP +to TO I-VP +field VB I-VP +single JJ B-NP +candidates NNS I-NP +in IN B-PP +most RBS B-NP +precincts NNS I-NP +, , O +the DT B-NP +Congress NNP I-NP +-LRB- ( O +I PRP B-NP +-RRB- ) O +will MD B-VP +lose VB I-VP +big JJ B-ADVP +. . O + +But CC O +if IN B-SBAR +the DT B-NP +opposition NN I-NP +remains VBZ B-VP +fractured VBN B-ADJP +, , O +the DT B-NP +Congress NNP I-NP +-LRB- ( O +I PRP B-NP +-RRB- ) O +could MD B-VP +win VB I-VP +a DT B-NP +small JJ I-NP +majority NN I-NP +, , O +or CC O +lead VB B-VP +a DT B-NP +coalition NN I-NP +government NN I-NP +. . O + +Chimanbhai NNP B-NP +Mehta NNP I-NP +, , O +a DT B-NP +parliamentarian NN I-NP +and CC I-NP +former JJ I-NP +Gandhi NNP I-NP +ally NN I-NP +, , O +predicts VBZ B-VP +Congress NNP B-NP +-LRB- ( O +I PRP B-NP +-RRB- ) O +will MD B-VP +win VB I-VP +only RB B-NP +150 CD I-NP +seats NNS I-NP +, , O +a DT B-NP +quarter NN I-NP +of IN B-PP +the DT B-NP +house NN I-NP +, , O +if IN B-SBAR +the DT B-NP +opposition NN I-NP +fields VBZ B-VP +single JJ B-NP +candidates NNS I-NP +in IN B-PP +80 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +races NNS I-NP +. . O + +Analysts NNS B-NP +say VBP B-VP +the DT B-NP +opposition NN I-NP +will MD B-VP +struggle VB I-VP +this DT B-NP +week NN I-NP +to TO B-VP +unite VB I-VP +, , O +and CC O +its PRP$ B-NP +success NN I-NP +will MD B-VP +be VB I-VP +clear JJ B-ADJP +only RB B-ADVP +when WRB B-ADVP +it PRP B-NP +announces VBZ B-VP +its PRP$ B-NP +final JJ I-NP +list NN I-NP +of IN B-PP +parliamentary JJ B-NP +candidates NNS I-NP +. . O + +The DT B-NP +arms-kickback NN I-NP +scandal NN I-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +one CD B-NP +of IN B-PP +the DT B-NP +big JJ I-NP +talking NN I-NP +points NNS I-NP +in IN B-PP +the DT B-NP +campaign NN I-NP +, , O +but CC O +it PRP B-NP +'s VBZ B-VP +unclear JJ B-ADJP +how WRB B-ADVP +it PRP B-NP +is VBZ B-VP +viewed VBN I-VP +by IN B-PP +average JJ B-NP +Indian NNP I-NP +voters NNS I-NP +. . O + +In IN B-PP +1986 CD B-NP +, , O +India NNP B-NP +signed VBD B-VP +a DT B-NP +$ $ I-NP +1.4 CD I-NP +billion CD I-NP +contract NN I-NP +with IN B-PP +AB NNP B-NP +Bofors NNP I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +Nobel NNP B-NP +Industries NNP I-NP +Sweden NNP I-NP +AB NNP I-NP +, , O +to TO B-VP +purchase VB I-VP +400 CD B-NP +artillery NN I-NP +pieces NNS I-NP +. . O + +The DT B-NP +contract NN I-NP +was VBD B-VP +negotiated VBN I-VP +by IN B-PP +the DT B-NP +countries NNS I-NP +' POS B-NP +two CD I-NP +prime JJ I-NP +ministers NNS I-NP +, , O +and CC O +was VBD B-VP +supposed VBN I-VP +to TO I-VP +be VB I-VP +free JJ B-ADJP +of IN B-PP +commissions NNS B-NP +or CC O +agents NNS B-NP +' POS B-NP +costs NNS I-NP +. . O + +In IN B-PP +April NNP B-NP +1987 CD I-NP +, , O +evidence NN B-NP +surfaced VBD B-VP +that IN B-SBAR +commissions NNS B-NP +were VBD B-VP +paid VBN I-VP +. . O + +The DT B-NP +opposition NN I-NP +charged VBN B-VP +that IN B-SBAR +the DT B-NP +money NN I-NP +was VBD B-VP +used VBN I-VP +to TO B-VP +bribe VB I-VP +Indian NNP B-NP +government NN I-NP +officials NNS I-NP +, , O +an DT B-NP +allegation NN I-NP +denied VBN B-VP +by IN B-PP +Mr. NNP B-NP +Gandhi NNP I-NP +'s POS B-NP +administration NN I-NP +. . O + +But CC O +many NN B-NP +of IN B-PP +his PRP$ B-NP +statements NNS I-NP +on IN B-PP +the DT B-NP +issue NN I-NP +in IN B-PP +Parliament NNP B-NP +subsequently RB B-ADVP +were VBD B-VP +proven VBN I-VP +wrong JJ B-ADJP +by IN B-PP +documentary NN B-NP +evidence NN I-NP +. . O + +The DT B-NP +scandal NN I-NP +has VBZ B-VP +faded VBN I-VP +and CC I-VP +flared VBN I-VP +, , O +but CC O +recent JJ B-NP +disclosures NNS I-NP +propelled VBN B-VP +it PRP B-NP +back RB B-ADVP +onto IN B-PP +the DT B-NP +front NN I-NP +pages NNS I-NP +, , O +and CC O +that DT B-NP +has VBZ B-VP +helped VBN I-VP +galvanize VB I-VP +the DT B-NP +opposition NN I-NP +, , O +which WDT B-NP +last JJ B-NP +week NN I-NP +blocked VBD B-VP +passage NN B-NP +of IN B-PP +two CD B-NP +constitutional JJ I-NP +amendment NN I-NP +bills NNS I-NP +. . O + +It PRP B-NP +was VBD B-VP +the DT B-NP +first JJ I-NP +time NN I-NP +in IN B-PP +20 CD B-NP +years NNS I-NP +that IN B-SBAR +such JJ B-NP +government NN I-NP +bills NNS I-NP +were VBD B-VP +defeated VBN I-VP +. . O + +In IN B-PP +a DT B-NP +country NN I-NP +where WRB B-ADVP +a DT B-NP +bribe NN I-NP +is VBZ B-VP +needed VBN I-VP +to TO I-VP +get VB I-VP +a DT B-NP +phone NN I-NP +, , O +a DT B-NP +job NN I-NP +, , O +and CC O +even RB B-ADVP +into IN B-PP +a DT B-NP +school NN I-NP +, , O +the DT B-NP +name NN I-NP +Bofors NNP I-NP +has VBZ B-VP +become VBN I-VP +a DT B-NP +potent JJ I-NP +rallying NN I-NP +cry NN I-NP +against IN B-PP +the DT B-NP +government NN I-NP +. . O + +That DT B-NP +illustrates VBZ B-VP +the DT B-NP +kind NN I-NP +of IN B-PP +disappointment NN B-NP +many JJ B-NP +Indians NNPS I-NP +feel VBP B-VP +toward IN B-PP +Mr. NNP B-NP +Gandhi NNP I-NP +, , O +whom WP B-NP +they PRP B-NP +zestfully RB B-VP +elected VBD I-VP +and CC O +enthusiastically RB B-VP +supported VBN I-VP +in IN B-PP +his PRP$ B-NP +first JJ I-NP +two CD I-NP +years NNS I-NP +in IN B-PP +power NN B-NP +. . O + +His PRP$ B-NP +term NN I-NP +has VBZ B-VP +produced VBN I-VP +no DT B-NP +spectacular JJ I-NP +failures NNS I-NP +in IN B-PP +politics NNS B-NP +, , O +in IN B-PP +the DT B-NP +economy NN I-NP +or CC B-PP +on IN B-PP +the DT B-NP +military JJ I-NP +front NN I-NP +, , O +and CC O +has VBZ B-VP +chalked VBN I-VP +up IN B-PRT +some DT B-NP +successes NNS I-NP +. . O + +But CC O +the DT B-NP +average JJ I-NP +Indian NNP I-NP +had VBD B-VP +tremendous JJ B-NP +hope NN I-NP +in IN B-PP +the DT B-NP +youthful JJ I-NP +leader NN I-NP +and CC O +his PRP$ B-NP +promise NN I-NP +to TO B-VP +make VB I-VP +both DT B-NP +government NN B-NP +and CC O +the DT B-NP +ruling NN I-NP +party NN I-NP +more RBR B-ADJP +effective JJ I-ADJP +and CC O +less RBR B-ADJP +corrupt JJ I-ADJP +. . O + +His PRP$ B-NP +failures NNS I-NP +in IN B-PP +those DT B-NP +two CD I-NP +areas NNS I-NP +deeply RB B-ADVP +, , O +and CC O +sometimes RB B-ADVP +bitterly RB I-ADVP +, , B-VP +disappointed VBN I-VP +many JJ B-NP +Indians NNPS I-NP +. . O + +`` `` O +We PRP B-NP +do VBP B-VP +n't RB I-VP +like IN I-VP +the DT B-NP +Congress NNP I-NP +-LRB- ( O +I PRP B-NP +-RRB- ) O +, , O +'' '' O +says VBZ B-VP +Sooraji NNP B-NP +Jath NNP I-NP +, , O +a DT B-NP +farmer NN I-NP +in IN B-PP +the DT B-NP +western JJ I-NP +state NN I-NP +of IN B-PP +Gujarat NN B-NP +. . O + +`` `` O +The DT B-NP +Congress NNP I-NP +government NN I-NP +is VBZ B-VP +taking VBG I-VP +the DT B-NP +farmers NNS I-NP +' POS B-NP +bread NN I-NP +and CC O +not RB O +giving VBG B-VP +us PRP B-NP +any DT B-NP +support NN I-NP +. . O + +When WRB B-ADVP +there EX B-NP +are VBP B-VP +well JJ B-NP +problems NNS I-NP +, , O +light NN B-NP +problems NNS I-NP +, , O +road NN B-NP +problems NNS I-NP +, , O +the DT B-NP +government NN I-NP +tells VBZ B-VP +us PRP B-NP +to TO B-VP +forget VB I-VP +it PRP B-NP +. . O +'' '' O + +The DT B-NP +greatest JJS I-NP +thing NN I-NP +going VBG B-VP +for IN B-PP +Mr. NNP B-NP +Gandhi NNP I-NP +and CC O +the DT O +Congress NNP O +-LRB- ( O +I PRP B-NP +-RRB- ) O +Party NNP B-NP +is VBZ B-VP +the DT B-NP +poor JJ I-NP +reputation NN I-NP +of IN B-PP +the DT B-NP +opposition NN I-NP +. . O + +Even RB B-ADVP +if IN B-SBAR +it PRP B-NP +unites VBZ B-VP +for IN B-PP +the DT B-NP +elections NNS I-NP +, , O +its PRP$ B-NP +coherence NN I-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +temporary JJ B-ADJP +. . O + +When WRB B-ADVP +the DT B-NP +Congress NNP I-NP +-LRB- ( O +I PRP B-NP +-RRB- ) O +lost VBD B-VP +the DT B-NP +1977 CD I-NP +election NN I-NP +, , O +following VBG B-PP +Mrs. NNP B-NP +Gandhi NNP I-NP +'s POS B-NP +hated VBD I-NP +emergency NN I-NP +rule NN I-NP +, , O +a DT B-NP +similar JJ I-NP +coalition NN I-NP +took VBD B-VP +power NN B-NP +and CC O +then RB B-ADVP +disintegrated VBD B-VP +. . O + +Many JJ B-NP +Indians NNPS I-NP +fear NN B-VP +a DT B-NP +repeat NN I-NP +of IN B-PP +that DT B-NP +experience NN I-NP +. . O + +March NNP B-NP +24 CD I-NP +, , I-NP +1986 CD I-NP +: : O + +AB NNP B-NP +Bofors NNP I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +Nobel NNP B-NP +Industries NNP I-NP +Sweden NNP I-NP +AB NNP I-NP +, , O +enters VBZ B-VP +into IN B-PP +a DT B-NP +$ $ I-NP +1.4 CD I-NP +billion CD I-NP +contract NN I-NP +with IN B-PP +India NNP B-NP +'s POS B-NP +Defense NNP I-NP +Ministry NNP I-NP +to TO B-VP +supply VB I-VP +400 CD B-NP +Bofors NNP I-NP +FH-77B NNP I-NP +155-mm JJ I-NP +field NN I-NP +howitzer NN I-NP +guns NNS I-NP +. . O + +In IN B-PP +1985 CD B-NP +, , O +Prime NNP B-NP +Minister NNP I-NP +Rajiv NNP I-NP +Gandhi NNP I-NP +, , O +in IN B-PP +his PRP$ B-NP +talks NNS I-NP +with IN B-PP +then RB B-NP +Swedish NNP I-NP +Prime NNP I-NP +Minister NNP I-NP +Olof NNP I-NP +Palme NNP I-NP +, , O +imposed VBD B-VP +the DT B-NP +condition NN I-NP +that IN B-SBAR +the DT B-NP +contract NN I-NP +have VBP B-VP +no DT B-NP +middlemen NNS I-NP +. . O + +April NNP B-NP +16 CD I-NP +, , I-NP +1987 CD I-NP +: : O + +Swedish NNP B-NP +National NNP I-NP +Radio NNP I-NP +reports NNS B-VP +that IN B-SBAR +about RB B-NP +$ $ I-NP +40 CD I-NP +million CD I-NP +-- : O +nearly RB B-NP +3 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +total JJ I-NP +contract NN I-NP +-- : O +was VBD B-VP +paid VBN I-VP +by IN B-PP +Bofors NNP B-NP +as IN B-PP +commissions NNS B-NP +to TO B-PP +middlemen NNS B-NP +. . O + +June NNP B-NP +1 CD I-NP +, , I-NP +1987 CD I-NP +: : O + +Sweden NNP B-NP +'s POS B-NP +National NNP I-NP +Audit NNP I-NP +Bureau NNP I-NP +releases NNS B-VP +its PRP$ B-NP +report NN I-NP +confirming VBG B-VP +payment NN B-NP +of IN B-PP +about RB B-NP +$ $ I-NP +40 CD I-NP +million CD I-NP +to TO B-PP +unidentified JJ B-NP +Indians NNPS I-NP +. . O + +The DT B-NP +report NN I-NP +says VBZ B-VP +that IN B-SBAR +investigations NNS B-NP +were VBD B-VP +severely RB I-VP +hampered VBN I-VP +by IN B-PP +lack NN B-NP +of IN B-PP +cooperation NN B-NP +from IN B-PP +Bofors NNP B-NP +. . O + +Bofors NNP B-NP +says VBZ B-VP +it PRP B-NP +ca MD B-VP +n't RB I-VP +disclose VB I-VP +the DT B-NP +names NNS I-NP +of IN B-PP +the DT B-NP +middlemen NNS I-NP +because IN B-SBAR +it PRP B-NP +would MD B-VP +jeopardize VB I-VP +industrial JJ B-NP +confidentiality NN I-NP +. . O + +A DT B-NP +portion NN I-NP +of IN B-PP +the DT B-NP +report NN I-NP +containing VBG B-VP +names NNS B-NP +of IN B-PP +the DT B-NP +middlemen NNS I-NP +is VBZ B-VP +withheld VBN I-VP +by IN B-PP +officials NNS B-NP +citing VBG B-VP +bank NN B-NP +secrecy NN I-NP +requirements NNS I-NP +. . O + +Aug. NNP B-NP +6 CD I-NP +, , I-NP +1987 CD I-NP +: : O + +Prime NNP B-NP +Minister NNP I-NP +Gandhi NNP I-NP +tells VBZ B-VP +the DT B-NP +Indian NNP I-NP +Parliament NNP I-NP +, , O +`` `` O +... : O +neither DT O +I PRP B-NP +nor CC O +any DT B-NP +member NN I-NP +of IN B-PP +my PRP$ B-NP +family NN I-NP +has VBZ B-VP +received VBN I-VP +any DT B-NP +consideration NN I-NP +in IN B-PP +these DT B-NP +transactions NNS I-NP +. . O + +That DT B-NP +is VBZ B-VP +the DT B-NP +truth NN I-NP +. . O +'' '' O + +Aug. NNP B-NP +26 CD I-NP +, , I-NP +1987 CD I-NP +: : O + +Bofors NNP B-NP +admits VBZ B-VP +payments NNS B-NP +of IN B-PP +$ $ B-NP +41 CD I-NP +million CD I-NP +to TO B-PP +middlemen NNS B-NP +. . O + +April NNP B-NP +22 CD I-NP +, , I-NP +1988 CD I-NP +: : O + +The DT B-NP +Hindu NNP I-NP +newspaper NN I-NP +publishes VBZ B-VP +facsimiles NNS B-NP +of IN B-PP +bank NN B-NP +documents NNS I-NP +for IN B-PP +foreign-exchange JJ B-NP +remittances NNS I-NP +and CC O +letters NNS B-NP +between IN B-PP +Bofors NNP B-NP +and CC O +certain JJ B-NP +private JJ I-NP +companies NNS I-NP +related VBN B-ADJP +to TO B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +the DT B-NP +guns NNS I-NP +to TO B-PP +India NNP B-NP +. . O + +April NNP B-NP +26 CD I-NP +, , I-NP +1988 CD I-NP +: : O + +A DT B-NP +parliamentary JJ I-NP +investigative JJ I-NP +committee NN I-NP +dominated VBN B-VP +by IN B-PP +the DT O +Congress NNP O +-LRB- ( O +I PRP B-NP +-RRB- ) O +Party NNP B-NP +concludes VBZ B-VP +that IN B-SBAR +there EX B-NP +were VBD B-VP +no DT B-NP +middlemen NNS I-NP +in IN B-PP +the DT B-NP +deal NN I-NP +and CC O +no DT B-NP +payment NN I-NP +to TO B-PP +any DT B-NP +Indian NNP I-NP +individual NN I-NP +or CC I-NP +company NN I-NP +. . O + +July NNP B-NP +18 CD I-NP +, , I-NP +1989 CD I-NP +: : O + +The DT B-NP +comptroller NN I-NP +and CC I-NP +auditor-general NN I-NP +of IN B-PP +India NNP B-NP +reports VBZ B-VP +serious JJ B-NP +lapses NNS I-NP +in IN B-PP +the DT B-NP +government NN I-NP +'s POS B-NP +technical JJ B-ADJP +and CC I-ADJP +financial JJ I-ADJP +evaluation NN B-NP +of IN B-PP +the DT B-NP +Bofors NNP I-NP +deal NN I-NP +. . O + +Sept. NNP B-NP +15 CD I-NP +, , I-NP +1989 CD I-NP +: : O + +Retired JJ O +army NN O +Chief NNP O +of IN B-PP +Staff NNP B-NP +Krishnaswami NNP B-NP +Sundarji NNP I-NP +discloses VBZ B-VP +in IN B-PP +an DT B-NP +interview NN I-NP +that IN B-SBAR +he PRP B-NP +suggested VBD B-VP +in IN B-PP +May NNP B-NP +1987 CD I-NP +that IN B-SBAR +the DT B-NP +government NN I-NP +cancel NN B-VP +the DT B-NP +Bofors NNP I-NP +contract NN I-NP +. . O + +According VBG B-PP +to TO B-PP +Gen. NNP B-NP +Sundarji NNP I-NP +, , O +that WDT B-NP +would MD B-VP +have VB I-VP +forced VBN I-VP +Bofors NNP B-NP +to TO B-VP +disclose VB I-VP +the DT B-NP +names NNS I-NP +of IN B-PP +the DT B-NP +middlemen NNS I-NP +who WP B-NP +received VBD B-VP +kickbacks NNS B-NP +from IN B-PP +the DT B-NP +company NN I-NP +. . O + +His PRP$ B-NP +recommendation NN I-NP +was VBD B-VP +rejected VBN I-VP +by IN B-PP +the DT B-NP +government NN I-NP +. . O + +Oct. NNP B-NP +9. CD I-NP +1989 CD I-NP +: : O + +The DT B-NP +Hindu NNP I-NP +newspaper NN I-NP +publishes VBZ B-VP +the DT B-NP +withheld VBN I-NP +portion NN I-NP +of IN B-PP +the DT B-NP +Swedish NNP I-NP +National NNP I-NP +Audit NNP I-NP +Bureau NNP I-NP +'s POS B-NP +report NN I-NP +. . O + +The DT B-NP +disclosures NNS I-NP +state VBP B-VP +that IN B-SBAR +commissions NNS B-NP +were VBD B-VP +paid VBN I-VP +by IN B-PP +Bofors NNP B-NP +to TO B-PP +an DT B-NP +Indian NNP I-NP +agent NN I-NP +of IN B-PP +the DT B-NP +arms NNS I-NP +company NN I-NP +. . O + +Parsow NNP B-NP +Partnership NNP I-NP +Ltd. NNP I-NP +and CC O +Elkhorn NNP B-NP +Partners NNP I-NP +L.P. NNP I-NP +said VBD B-VP +they PRP B-NP +may MD B-VP +seek VB I-VP +proposals NNS B-NP +from IN B-PP +third JJ B-NP +parties NNS I-NP +relating VBG B-VP +to TO B-PP +a DT B-NP +sale NN I-NP +or CC I-NP +restructuring NN I-NP +of IN B-PP +CACI NNP B-NP +International NNP I-NP +Inc NNP I-NP +. . O + +In IN B-PP +a DT B-NP +filing NN I-NP +with IN B-PP +the DT B-NP +Securities NNP I-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +, , O +Parsow NNP B-NP +and CC I-NP +Elkhorn NNP I-NP +, , O +which WDT B-NP +together RB B-ADVP +hold VB B-VP +8.685 CD B-NP +% NN I-NP +of IN B-PP +CACI NNP B-NP +'s POS B-NP +common JJ I-NP +shares NNS I-NP +, , O +said VBD B-VP +they PRP B-NP +think VBP B-VP +it PRP B-NP +is VBZ B-VP +in IN B-PP +the DT B-NP +best JJS I-NP +interest NN I-NP +of IN B-PP +CACI NNP B-NP +stockholders NNS I-NP +that IN B-SBAR +the DT B-NP +company NN I-NP +be VB B-VP +sold VBN I-VP +. . O + +CACI NNP B-NP +, , O +based VBN B-VP +in IN B-PP +Arlington NNP B-NP +, , O +Va. NNP B-NP +, , O +said VBD B-VP +it PRP B-NP +had VBD B-VP +n't RB I-VP +seen VBN I-VP +the DT B-NP +filing NN I-NP +by IN B-PP +Parsow NNP B-NP +and CC I-NP +Elkhorn NNP I-NP +and CC O +therefore RB B-ADVP +had VBD B-VP +no DT B-NP +comment NN I-NP +. . O + +The DT B-NP +partnerships NNS I-NP +said VBD B-VP +they PRP B-NP +may MD B-VP +seek VB I-VP +board NN B-NP +representation NN I-NP +, , O +and CC O +they PRP B-NP +may MD B-VP +seek VB I-VP +the DT B-NP +support NN I-NP +of IN B-PP +CACI NNP B-NP +'s POS B-NP +board NN I-NP +and CC O +other JJ B-NP +major JJ I-NP +shareholders NNS I-NP +in IN B-PP +connection NN B-NP +with IN B-PP +their PRP$ B-NP +plans NNS I-NP +. . O + +According VBG B-PP +to TO B-PP +the DT B-NP +filing NN I-NP +, , O +Parsow NNP B-NP +and CC I-NP +Elkhorn NNP I-NP +are VBP B-VP +based VBN I-VP +in IN B-PP +Elkhorn NNP B-NP +, , O +Neb. NNP B-NP +, , O +and CC O +are VBP B-VP +controlled VBN I-VP +by IN B-PP +the DT B-NP +same JJ I-NP +general JJ I-NP +partner NN I-NP +, , O +Alan NNP B-NP +S. NNP I-NP +Parsow NNP I-NP +. . O + +Their PRP$ B-NP +combined VBN I-NP +stake NN I-NP +consists VBZ B-VP +of IN B-PP +880,500 CD B-NP +CACI NNP I-NP +common JJ I-NP +shares NNS I-NP +, , O +including VBG B-PP +86,500 CD B-NP +shares NNS I-NP +bought VBD B-VP +in IN B-PP +the DT B-NP +past JJ I-NP +60 CD I-NP +days NNS I-NP +at IN B-PP +$ $ B-NP +2.3125 CD I-NP +to TO I-NP +$ $ I-NP +2.4375 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Additional JJ B-NP +shares NNS I-NP +may MD B-VP +be VB I-VP +bought VBN I-VP +or CC I-VP +sold VBN I-VP +in IN B-PP +the DT B-NP +open JJ I-NP +market NN I-NP +, , O +in IN B-PP +private JJ B-NP +transactions NNS I-NP +or CC O +otherwise RB B-ADVP +, , O +depending VBG B-PP +on IN B-PP +market NN B-NP +conditions NNS I-NP +and CC O +other JJ B-NP +factors NNS I-NP +. . O + +The DT B-NP +inverse JJ I-NP +trading NN I-NP +relationship NN I-NP +between IN B-PP +bonds NNS B-NP +and CC I-NP +stocks NNS I-NP +was VBD B-VP +interrupted VBN I-VP +yesterday NN B-NP +as IN B-SBAR +bonds NNS B-NP +fell VBD B-VP +despite IN B-PP +a DT B-NP +modest JJ I-NP +decline NN I-NP +in IN B-PP +stock NN B-NP +prices NNS I-NP +. . O + +But CC O +bond NN B-NP +investors NNS I-NP +continue VBP B-VP +to TO I-VP +keep VB I-VP +a DT B-NP +close NN I-NP +watch NN I-NP +on IN B-PP +the DT B-NP +jittery JJ I-NP +stock NN I-NP +market NN I-NP +. . O + +In IN B-PP +early JJ B-NP +trading NN I-NP +, , O +investors NNS B-NP +were VBD B-VP +bidding NN I-VP +bond NN B-NP +prices NNS I-NP +higher JJR B-ADJP +as IN B-SBAR +stocks NNS B-NP +tumbled VBD B-VP +and CC O +fears NNS B-NP +mounted VBN B-VP +that IN B-SBAR +Friday NNP B-NP +'s POS B-NP +stock NN I-NP +market NN I-NP +debacle NN I-NP +would MD B-VP +be VB I-VP +repeated VBN I-VP +. . O + +But CC O +a DT B-NP +partial JJ I-NP +recovery NN I-NP +in IN B-PP +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +, , O +which WDT B-NP +had VBD B-VP +been VBN I-VP +down RB B-ADVP +more JJR B-NP +than IN I-NP +60 CD I-NP +points NNS I-NP +in IN B-PP +midmorning NN B-NP +, , O +dashed VBD B-VP +those DT B-NP +expectations NNS I-NP +. . O + +Treasury NN B-NP +bonds NNS I-NP +also RB B-ADVP +were VBD B-VP +hurt VBN I-VP +late RB B-ADVP +in IN B-PP +the DT B-NP +day NN I-NP +by IN B-PP +a DT B-NP +$ $ I-NP +4 CD I-NP +billion CD I-NP +offering NN I-NP +by IN B-PP +the DT B-NP +Tennessee NNP I-NP +Valley NNP I-NP +Authority NNP I-NP +and CC O +the DT B-NP +prospect NN I-NP +of IN B-PP +a DT B-NP +huge JJ I-NP +amount NN I-NP +of IN B-PP +new JJ B-NP +agency NN I-NP +debt NN I-NP +. . O + +`` `` O +Bond NNP B-NP +investors NNS I-NP +were VBD B-VP +hoping VBG I-VP +that IN B-SBAR +stock NN B-NP +prices NNS I-NP +would MD B-VP +continue VB I-VP +to TO I-VP +fall VB I-VP +, , O +'' '' O +said VBD B-VP +Roger NNP B-NP +Early NNP I-NP +, , O +a DT B-NP +vice NN I-NP +president NN I-NP +at IN B-PP +Federated NNP B-NP +Investors NNP I-NP +Inc. NNP I-NP +, , O +Pittsburgh NNP B-NP +. . O + +`` `` O +When WRB B-ADVP +stocks NNS B-NP +stabilized VBN B-VP +, , O +that WDT B-NP +was VBD B-VP +a DT B-NP +disappointment NN I-NP +. . O +'' '' O + +Meanwhile RB B-ADVP +, , O +for IN B-PP +the DT B-NP +second JJ I-NP +straight JJ I-NP +day NN I-NP +, , O +the DT B-NP +bond NN I-NP +market NN I-NP +paid VBD B-VP +little JJ B-NP +attention NN I-NP +to TO B-PP +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +'s POS B-NP +open JJ I-NP +market NN I-NP +operations NNS I-NP +. . O + +Fed JJ B-NP +officials NNS I-NP +injected VBN B-VP +more JJR B-NP +cash NN I-NP +into IN B-PP +the DT B-NP +banking NN I-NP +system NN I-NP +by IN B-PP +arranging VBG B-VP +$ $ B-NP +1.5 CD I-NP +billion CD I-NP +of IN B-PP +repurchase NN B-NP +agreements NNS I-NP +during IN B-PP +the DT B-NP +usual JJ I-NP +pre-noon NN I-NP +intervention NN I-NP +period NN I-NP +. . O + +The DT B-NP +move NN I-NP +was VBD B-VP +meant VBN I-VP +to TO I-VP +keep VB I-VP +a DT B-NP +lid NN I-NP +on IN B-PP +interest NN B-NP +rates NNS I-NP +and CC O +to TO B-VP +boost VB I-VP +investor NN B-NP +confidence NN I-NP +. . O + +`` `` O +The DT B-NP +intervention NN I-NP +has VBZ B-VP +been VBN I-VP +friendly JJ B-ADJP +, , O +meaning NN B-VP +that IN B-SBAR +they PRP B-NP +really RB B-ADVP +did VBD B-VP +n't RB I-VP +have VB I-VP +to TO I-VP +do VB I-VP +it PRP B-NP +, , O +'' '' O +said VBD B-VP +Maria NNP B-NP +Fiorini NNP I-NP +Ramirez NNP I-NP +, , O +money-market JJ B-NP +economist NN I-NP +at IN B-PP +Drexel NNP B-NP +Burnham NNP I-NP +Lambert NNP I-NP +Inc NNP I-NP +. . O + +She PRP B-NP +said VBD B-VP +a DT B-NP +more RBR I-NP +aggressive JJ I-NP +move NN I-NP +was VBD B-VP +n't RB I-VP +needed VBN I-VP +. . O + +The DT B-NP +Fed NNP I-NP +also RB B-ADVP +appears VBZ B-VP +reluctant JJ B-ADJP +to TO B-VP +ease VB I-VP +credit NN B-NP +conditions NNS I-NP +further JJ B-ADVP +. . O + +It PRP B-NP +already RB B-ADVP +has VBZ B-VP +allowed VBN I-VP +the DT B-NP +closely RB I-NP +watched VBN I-NP +federal JJ I-NP +funds NNS I-NP +rate NN I-NP +to TO B-VP +decline VB I-VP +1\/4 CD B-NP +percentage NN I-NP +point NN I-NP +to TO B-PP +about IN B-NP +8 CD I-NP +3\/4 CD I-NP +% NN I-NP +from IN B-PP +its PRP$ B-NP +previous JJ I-NP +target NN I-NP +level NN I-NP +of IN B-PP +about IN B-NP +9 CD I-NP +% NN I-NP +. . O + +The DT B-NP +rate NN I-NP +, , O +which WDT B-NP +banks NNS B-NP +charge VBP B-VP +each DT B-NP +other NN I-NP +on IN B-PP +overnight JJ B-NP +loans NNS I-NP +, , O +is VBZ B-VP +considered VBN I-VP +an DT B-NP +early JJ I-NP +signal NN I-NP +of IN B-PP +changes NNS B-NP +in IN B-PP +Fed NNP B-NP +policy NN I-NP +. . O + +It PRP B-NP +ended VBD B-VP +at IN B-PP +about IN B-NP +8 CD I-NP +11\/16 CD I-NP +% NN I-NP +yesterday NN B-NP +, , O +but CC O +was VBD B-VP +as RB B-ADJP +low JJ I-ADJP +as IN B-PP +8 CD B-NP +1\/2 CD I-NP +% NN I-NP +Monday NNP B-NP +. . O + +The DT B-NP +Treasury NNP I-NP +'s POS B-NP +benchmark NN I-NP +30-year JJ I-NP +bond NN I-NP +fell VBD B-VP +more JJR B-NP +than IN I-NP +1\/2 CD I-NP +point NN I-NP +, , O +or CC O +over IN B-NP +$ $ I-NP +5 NN I-NP +for IN B-PP +each DT B-NP +$ $ I-NP +1,000 CD I-NP +face NN I-NP +amount NN I-NP +, , O +while IN B-SBAR +the DT B-NP +yield NN I-NP +moved VBD B-VP +above IN B-PP +8 CD B-NP +% NN I-NP +for IN B-PP +the DT B-NP +first JJ I-NP +time NN I-NP +since IN B-PP +Thursday NNP B-NP +. . O + +Investment-grade JJ B-NP +corporate JJ I-NP +, , I-NP +municipal JJ I-NP +and CC I-NP +mortgage-backed JJ I-NP +securities NNS I-NP +also RB B-ADVP +fell VBD B-VP +. . O + +But CC O +most RBS B-NP +junk NN I-NP +bonds NNS I-NP +closed VBD B-VP +unchanged JJ B-ADJP +after IN B-PP +opening NN B-VP +slightly RB B-ADJP +higher JJR I-ADJP +on IN B-PP +bargain-hunting NN B-NP +by IN B-PP +institutional JJ B-NP +investors NNS I-NP +. . O + +Some DT B-NP +so-called JJ I-NP +high-quality JJ I-NP +junk NN I-NP +issues NNS I-NP +, , O +such JJ B-PP +as IN I-PP +R.H. NNP B-NP +Macy NNP I-NP +& CC I-NP +Co. NNP I-NP +'s POS B-NP +14 CD B-ADJP +1\/2 CD I-ADJP +% NN I-ADJP +subordinated VBD B-NP +debentures NNS I-NP +, , O +rose VBD B-VP +. . O + +The DT B-NP +Macy NNP I-NP +'s POS B-NP +issue NN I-NP +closed VBD B-VP +up IN B-ADVP +about IN B-NP +one CD I-NP +point NN I-NP +at IN B-PP +a DT B-NP +bid NN I-NP +price NN I-NP +of IN B-PP +97 CD B-NP +. . O + +The DT B-NP +TVA NNP I-NP +'s POS B-NP +public JJ I-NP +debt NN I-NP +offering NN I-NP +was VBD B-VP +its PRP$ B-NP +first JJ I-NP +in IN B-PP +15 CD B-NP +years NNS I-NP +. . O + +Strong JJ B-NP +investor NN I-NP +demand NN I-NP +prompted VBD B-VP +it PRP B-NP +to TO B-VP +boost VB I-VP +the DT B-NP +size NN I-NP +of IN B-PP +the DT B-NP +issue NN I-NP +from IN B-PP +$ $ B-NP +3 CD I-NP +billion CD I-NP +. . O + +Traders NNS B-NP +said VBD B-VP +hedging VBG B-NP +related VBN B-VP +to TO B-PP +the DT B-NP +TVA NNP I-NP +pricing NN I-NP +also RB B-ADVP +pressured VBD B-VP +Treasury NNP B-NP +bonds NNS I-NP +. . O + +`` `` O +Underwriters NNS B-NP +of IN B-PP +the DT B-NP +TVA NNP I-NP +bonds NNS I-NP +reduced VBD B-VP +their PRP$ B-NP +market NN I-NP +risk NN I-NP +by IN B-PP +selling VBG B-VP +Treasurys NNPS B-NP +to TO B-VP +cover VB I-VP +at IN B-ADVP +least JJS I-ADVP +part NN B-NP +of IN B-PP +their PRP$ B-NP +-LCB- ( I-NP +TVA NNP I-NP +-RCB- ) I-NP +holdings NNS I-NP +, , O +'' '' O +said VBD B-VP +James NNP B-NP +R. NNP I-NP +Capra NNP I-NP +, , O +a DT B-NP +senior JJ I-NP +vice NN I-NP +president NN I-NP +at IN B-PP +Shearson NNP B-NP +Lehman NNP I-NP +Government NNP I-NP +Securities NNP I-NP +Inc NNP I-NP +. . O + +The DT B-NP +TVA NNP I-NP +bonds NNS I-NP +also RB B-ADVP +`` `` O +served VBN B-VP +to TO I-VP +remind VB I-VP +the DT B-NP +market NN I-NP +that IN B-SBAR +there EX B-NP +will MD B-VP +be VB I-VP +even RB B-NP +more RBR I-NP +new JJ I-NP +supply NN I-NP +, , O +'' '' O +said VBD B-VP +Lawrence NNP B-NP +N. NNP I-NP +Leuzzi NNP I-NP +, , O +a DT B-NP +managing VBG I-NP +director NN I-NP +at IN B-PP +S.G. NNP B-NP +Warburg NNP I-NP +Securities NNPS I-NP +& CC I-NP +Co NNP I-NP +. . O + +Today NN B-NP +the DT B-NP +Treasury NNP I-NP +will MD B-VP +announce VB I-VP +the DT B-NP +size NN I-NP +of IN B-PP +its PRP$ B-NP +next JJ I-NP +two-year JJ I-NP +note NN I-NP +sale NN I-NP +and CC O +Resolution NNP B-NP +Funding NNP I-NP +Corp. NNP I-NP +will MD B-VP +announce VB I-VP +details NNS B-NP +of IN B-PP +its PRP$ B-NP +first JJ I-NP +bond NN I-NP +offering NN I-NP +. . O + +Some DT B-NP +traders NNS I-NP +estimate VBP B-VP +$ $ B-NP +9.75 CD I-NP +billion CD I-NP +of IN B-PP +new JJ B-NP +two-year JJ I-NP +Treasurys NNPS I-NP +will MD B-VP +be VB I-VP +sold VBN I-VP +next JJ B-NP +week NN I-NP +, , O +and CC O +they PRP B-NP +expect VBP B-VP +Refcorp NNP B-NP +to TO B-VP +offer VB I-VP +$ $ B-NP +4 CD I-NP +billion CD I-NP +to TO I-NP +$ $ I-NP +6 CD I-NP +billion CD I-NP +of IN B-PP +long-term JJ B-NP +`` `` I-NP +bailout NN I-NP +'' '' I-NP +bonds NNS I-NP +. . O + +Refcorp NNP B-NP +was VBD B-VP +created VBN I-VP +to TO B-VP +help VB I-VP +fund VB I-VP +the DT B-NP +thrift NN I-NP +bailout NN I-NP +. . O + +Another DT B-NP +agency NN I-NP +issue NN I-NP +came VBD B-VP +to TO B-PP +market VB B-NP +yesterday NN B-NP +. . O + +The DT B-NP +Office NNP I-NP +of IN B-PP +Finance NNP B-NP +of IN B-PP +the DT B-NP +Federal NNP I-NP +Home NNP I-NP +Loan NNP I-NP +Banks NNP I-NP +said VBD B-VP +it PRP B-NP +priced VBD B-VP +a DT B-NP +four-part JJ I-NP +$ $ I-NP +2.27 CD I-NP +billion CD I-NP +bond NN I-NP +offering NN I-NP +for IN B-SBAR +the DT B-NP +banks NNS I-NP +to TO B-VP +yield VB I-VP +from IN B-NP +8.125 CD I-NP +% NN I-NP +to TO I-NP +8.375 CD I-NP +% NN I-NP +. . O + +The DT B-NP +release NN I-NP +of IN B-PP +several JJ B-NP +economic JJ I-NP +reports NNS I-NP +had VBD B-VP +little JJ B-NP +impact NN I-NP +on IN B-PP +the DT B-NP +market NN I-NP +, , O +including VBG B-PP +a DT B-NP +report NN I-NP +that IN B-SBAR +the DT B-NP +U.S. NNP I-NP +trade NN I-NP +deficit NN I-NP +expanded VBN B-VP +to TO B-PP +a DT B-NP +surprisingly RB I-NP +wide JJ I-NP +$ $ I-NP +10.77 CD I-NP +billion CD I-NP +in IN B-PP +August NNP B-NP +, , O +up IN B-ADVP +from IN B-PP +a DT B-NP +revised VBN I-NP +$ $ I-NP +8.24 CD I-NP +billion CD I-NP +in IN B-PP +July NNP B-NP +. . O + +The DT B-NP +August NNP I-NP +gap NN I-NP +was VBD B-VP +expected VBN I-VP +to TO I-VP +have VB I-VP +expanded VBN I-VP +to TO B-PP +$ $ B-NP +9.1 CD I-NP +billion CD I-NP +. . O + +Treasury NNP B-NP +Securities NNPS I-NP + +Treasury NN B-NP +securities NNS I-NP +were VBD B-VP +essentially RB B-ADJP +flat JJ I-ADJP +to TO B-PP +about IN B-NP +1\/2 CD I-NP +point NN I-NP +lower JJR B-ADJP +. . O + +The DT B-NP +benchmark NN I-NP +30-year JJ I-NP +bond NN I-NP +was VBD B-VP +quoted VBN I-VP +late RB B-ADVP +at IN B-PP +100 CD B-NP +28\/32 CD I-NP +to TO B-VP +yield VB I-VP +8.04 CD B-NP +% NN I-NP +, , O +compared VBN B-PP +with IN B-PP +101 CD B-NP +19\/32 CD I-NP +to TO B-VP +yield VB I-VP +7.97 CD B-NP +% NN I-NP +Monday NNP B-NP +. . O + +The DT B-NP +latest JJS I-NP +10-year JJ I-NP +notes NNS I-NP +were VBD B-VP +quoted VBN I-VP +late RB B-ADVP +at IN B-PP +99 CD B-NP +25\/32 CD I-NP +to TO B-VP +yield VB I-VP +8.01 CD B-NP +% NN I-NP +, , O +compared VBN B-PP +with IN B-PP +100 CD B-NP +1\/32 CD I-NP +to TO B-VP +yield VB I-VP +7.97 CD B-NP +% NN I-NP +. . O + +Short-term JJ B-NP +rates NNS I-NP +increased VBN B-VP +. . O + +The DT B-NP +discount NN I-NP +rate NN I-NP +on IN B-PP +three-month JJ B-NP +bills NNS I-NP +rose VBD B-VP +to TO B-PP +7.52 CD B-NP +% NN I-NP +for IN B-PP +a DT B-NP +bond-equivalent JJ I-NP +yield NN I-NP +of IN B-PP +7.75 CD B-NP +% NN I-NP +. . O + +The DT B-NP +rate NN I-NP +on IN B-PP +six-month JJ B-NP +bills NNS I-NP +rose VBD B-VP +to TO B-PP +7.53 CD B-NP +% NN I-NP +for IN B-PP +a DT B-NP +bond-equivalent JJ I-NP +yield NN I-NP +of IN B-PP +7.92 CD B-NP +% NN I-NP +. . O + +Corporate JJ B-NP +, , I-NP +Other JJ I-NP +Issues NNS I-NP + +Investment-grade JJ B-NP +corporate JJ I-NP +bonds NNS I-NP +ended VBD B-VP +1\/4 CD B-NP +to TO I-NP +1\/2 CD I-NP +point NN I-NP +lower JJR B-ADJP +, , O +while IN B-SBAR +most RBS B-NP +junk NN I-NP +bonds NNS I-NP +ended VBD B-VP +unchanged JJ B-ADJP +. . O + +The DT B-NP +TVA NNP I-NP +'s POS B-NP +huge JJ O +$ $ B-ADJP +4 CD O +billion CD O +offering NN B-NP +dominated VBD B-VP +attention NN B-NP +in IN B-PP +the DT B-NP +new-issue JJ I-NP +market NN I-NP +. . O + +TVA NNP B-NP +offered VBD B-VP +$ $ B-NP +2 CD I-NP +billion CD I-NP +of IN B-PP +30-year JJ B-NP +bonds NNS I-NP +priced VBN B-VP +to TO I-VP +yield VB I-VP +9.06 CD B-NP +% NN I-NP +; : O +$ $ B-NP +1 CD I-NP +billion CD I-NP +in IN B-PP +10-year JJ B-NP +notes NNS I-NP +priced VBN B-VP +to TO I-VP +yield VB I-VP +8.42 CD B-NP +% NN I-NP +; : O +and CC O +$ $ B-NP +1 CD I-NP +billion CD I-NP +in IN B-PP +five-year JJ B-NP +notes NNS I-NP +priced VBN B-VP +to TO I-VP +yield VB I-VP +8.33 CD B-NP +% NN I-NP +. . O + +The DT B-NP +TVA NNP I-NP +, , O +which WDT B-NP +operates VBZ B-VP +one CD B-NP +of IN B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +largest JJS I-NP +electric JJ I-NP +power NN I-NP +systems NNS I-NP +, , O +is VBZ B-VP +a DT B-NP +corporation NN I-NP +wholly RB B-VP +owned VBD I-VP +by IN B-PP +the DT B-NP +U.S. NNP I-NP +government NN I-NP +. . O + +Yesterday NN B-NP +'s POS B-NP +bond NN I-NP +sale NN I-NP +was VBD B-VP +part NN B-NP +of IN B-PP +a DT B-NP +$ $ I-NP +6.7 CD I-NP +billion CD I-NP +refinancing NN I-NP +plan NN I-NP +to TO B-VP +pay VB I-VP +off IN B-PRT +high-interest JJ B-NP +debt NN I-NP +the DT B-NP +TVA NNP I-NP +owes VBZ B-VP +the DT B-NP +Federal NNP I-NP +Financing NNP I-NP +Bank NNP I-NP +, , O +an DT B-NP +arm NN I-NP +of IN B-PP +the DT B-NP +Treasury NNP I-NP +. . O + +Meanwhile RB B-ADVP +, , O +Lockheed NNP B-NP +Corp. NNP I-NP +priced VBD B-VP +a DT B-NP +$ $ I-NP +300 CD I-NP +million CD I-NP +note NN I-NP +offering NN I-NP +to TO B-VP +yield VB I-VP +9.39 CD B-NP +% NN I-NP +. . O + +Mortgage-Backed JJ B-NP +Securities NNPS I-NP + +The DT B-NP +derivative JJ I-NP +mortgage-backed JJ I-NP +market NN I-NP +revived VBN B-VP +after IN B-PP +a DT B-NP +brief JJ I-NP +hiatus NN I-NP +as IN B-SBAR +two CD B-NP +new JJ I-NP +Remics NNS I-NP +totaling VBG B-VP +$ $ B-NP +850 CD I-NP +million CD I-NP +were VBD B-VP +offered VBN I-VP +and CC O +talk VB B-NP +circulated VBD B-VP +about IN B-PP +two CD B-NP +more JJR I-NP +issues NNS I-NP +that WDT B-NP +could MD B-VP +be VB I-VP +priced VBN I-VP +today NN B-NP +. . O + +The DT B-NP +revival NN I-NP +of IN B-PP +the DT B-NP +real JJ I-NP +estate NN I-NP +mortgage NN I-NP +investment NN I-NP +conduit NN I-NP +market NN I-NP +reflected VBD B-VP +the DT B-NP +relative JJ I-NP +calm NN I-NP +in IN B-PP +the DT B-NP +mortgage NN I-NP +market NN I-NP +after IN B-PP +two CD B-NP +days NNS I-NP +of IN B-PP +volatile JJ B-NP +trading NN I-NP +. . O + +Dealers NNS B-NP +noted VBD B-VP +that IN B-SBAR +it PRP B-NP +'s VBZ B-VP +difficult JJ B-ADJP +to TO B-VP +structure VB I-VP +new JJ B-NP +Remics NNS I-NP +when WRB B-ADVP +prices NNS B-NP +are VBP B-VP +moving VBG I-VP +widely RB B-ADVP +. . O + +The DT B-NP +two CD I-NP +Remics NNS I-NP +priced VBN B-VP +were VBD B-VP +a DT B-NP +$ $ I-NP +500 CD I-NP +million CD I-NP +Federal NNP I-NP +Home NNP I-NP +Loan NNP I-NP +Mortgage NNP I-NP +Corp. NNP I-NP +issue NN I-NP +underwritten VBN B-VP +by IN B-PP +Salomon NNP B-NP +Brothers NNP I-NP +Inc. NNP I-NP +and CC O +a DT B-NP +$ $ I-NP +350 CD I-NP +million CD I-NP +Federal NNP I-NP +National NNP I-NP +Mortgage NNP I-NP +Association NNP I-NP +deal NN I-NP +underwritten VBN B-VP +by IN B-PP +Greenwich NNP B-NP +Capital NNP I-NP +Markets NNPS I-NP +. . O + +The DT B-NP +Remic NNP I-NP +issuance NN I-NP +supported VBD B-VP +prices NNS B-NP +of IN B-PP +Freddie NNP B-NP +Mac NNP I-NP +and CC O +Fannie NNP B-NP +Mae NNP I-NP +securities NNS I-NP +, , O +which WDT B-NP +held VBD B-VP +up IN B-PRT +better JJR B-ADVP +than IN B-PP +Government NNP B-NP +National NNP I-NP +Mortgage NNP I-NP +Association NNP I-NP +securities NNS I-NP +during IN B-PP +an DT B-NP +afternoon NN I-NP +sell-off NN I-NP +. . O + +Ginnie NNP B-NP +Mae NNP I-NP +9 CD I-NP +% NN I-NP +securities NNS I-NP +for IN B-PP +November NNP B-NP +delivery NN I-NP +ended VBD B-VP +at IN B-PP +97 CD B-NP +29\/32 CD I-NP +, , O +down RB B-ADVP +7\/32 CD B-NP +; : O +9 CD B-NP +1\/2 CD I-NP +% NN I-NP +securities NNS I-NP +at IN B-PP +99 CD B-NP +31\/32 CD I-NP +, , O +down RB B-ADVP +6\/32 CD B-NP +; : O +and CC O +10 CD B-NP +% NN I-NP +securities NNS I-NP +at IN B-PP +101 CD B-NP +29\/32 CD I-NP +, , O +down RB B-ADVP +5\/32 CD B-NP +. . O + +Freddie NNP B-NP +Mac NNP I-NP +9 CD I-NP +% NN I-NP +securities NNS I-NP +were VBD B-VP +at IN B-PP +97 CD B-NP +5\/32 CD I-NP +, , O +down RB B-ADVP +3\/32 CD B-NP +. . O + +The DT B-NP +Ginnie NNP I-NP +Mae NNP I-NP +9 CD I-NP +% NN I-NP +issue NN I-NP +was VBD B-VP +yielding VBG I-VP +9.43 CD B-NP +% NN I-NP +to TO B-PP +a DT B-NP +12-year JJ I-NP +average JJ I-NP +life NN I-NP +assumption NN I-NP +, , O +as IN B-SBAR +the DT B-NP +spread NN I-NP +above IN B-PP +the DT B-NP +Treasury NNP I-NP +10-year JJ I-NP +note NN I-NP +held VBN B-VP +at IN B-PP +1.42 CD B-NP +percentage NN I-NP +points NNS I-NP +. . O + +Municipals NNS B-NP + +Confusion NN B-NP +over IN B-PP +the DT B-NP +near-term JJ I-NP +trend NN I-NP +for IN B-PP +rates NNS B-NP +dominated VBD B-VP +the DT B-NP +municipal JJ I-NP +arena NN I-NP +, , O +as IN B-SBAR +gyrations NNS B-NP +in IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +continued VBD B-VP +to TO I-VP +buffet VB I-VP +bonds NNS B-NP +. . O + +Long NNP B-NP +tax-exempt JJ I-NP +dollar NN I-NP +bonds NNS I-NP +were VBD B-VP +mostly RB B-ADJP +flat JJ I-ADJP +to TO B-PP +3\/8 CD B-NP +point NN I-NP +lower JJR B-ADJP +after IN B-PP +a DT B-NP +whipsaw JJ I-NP +session NN I-NP +of IN B-PP +moving VBG B-VP +inversely RB B-ADVP +to TO B-PP +stocks NNS B-NP +in IN B-PP +modest JJ B-NP +dealer-led JJ I-NP +trading NN I-NP +. . O + +Prices NNS B-NP +of IN B-PP +pre-refunded JJ B-NP +municipal JJ I-NP +bonds NNS I-NP +were VBD B-VP +capped VBN I-VP +by IN B-PP +news NN B-NP +that IN B-SBAR +Chemical NNP B-NP +Securities NNP I-NP +Inc. NNP I-NP +, , O +as IN B-PP +agent NN B-NP +for IN B-PP +a DT B-NP +customer NN I-NP +, , O +will MD B-VP +accept VB I-VP +bids NNS B-NP +today NN B-NP +for IN B-PP +two CD B-NP +large JJ I-NP +lists NNS I-NP +of IN B-PP +bonds NNS B-NP +that WDT B-NP +include VBP B-VP +many JJ B-NP +such JJ I-NP +issues NNS I-NP +. . O + +The DT B-NP +lists NNS I-NP +total JJ B-VP +$ $ B-NP +654.5 CD I-NP +million CD I-NP +. . O + +Pre-refunded JJ B-NP +bonds NNS I-NP +are VBP B-VP +called VBN I-VP +at IN B-PP +their PRP$ B-NP +earliest JJS I-NP +call NN I-NP +date NN I-NP +with IN B-PP +the DT B-NP +escrowed VBN I-NP +proceeds NNS I-NP +of IN B-PP +another DT B-NP +bond NN I-NP +issue NN I-NP +. . O + +Meanwhile RB B-ADVP +, , O +several JJ B-NP +new JJ I-NP +issues NNS I-NP +were VBD B-VP +priced VBN I-VP +. . O + +Underwriters NNS B-NP +led VBN B-VP +by IN B-PP +PaineWebber NNP B-NP +Inc. NNP I-NP +set VBD B-VP +preliminary JJ B-NP +pricing NN I-NP +for IN B-PP +$ $ B-NP +144.4 CD I-NP +million CD I-NP +of IN B-PP +California NNP B-NP +Health NNP I-NP +Facilities NNP I-NP +Financing NNP I-NP +Authority NNP I-NP +revenue NN I-NP +bonds NNS I-NP +for IN B-PP +Kaiser NNP B-NP +Permanente NNP I-NP +. . O + +Tentative JJ B-NP +reoffering NN I-NP +yields NNS I-NP +were VBD B-VP +set VBN I-VP +from IN B-PP +6.25 CD B-NP +% NN I-NP +in IN B-PP +1993 CD B-NP +to TO B-PP +7.227 CD B-NP +% NN I-NP +in IN B-PP +2018 CD B-NP +. . O + +As IN B-PP +part NN B-NP +of IN B-PP +its PRP$ B-NP +College NNP I-NP +Savings NNP I-NP +Plan NNP I-NP +, , O +Connecticut NNP B-NP +offered VBD B-VP +$ $ B-NP +100.4 CD I-NP +million CD I-NP +of IN B-PP +general JJ B-NP +obligation NN I-NP +capital NN I-NP +appreciation NN I-NP +bonds NNS I-NP +priced VBN B-VP +to TO I-VP +yield VB I-VP +to TO B-PP +maturity NN B-NP +from IN B-PP +6.25 CD B-NP +% NN I-NP +in IN B-PP +1994 CD B-NP +to TO B-PP +6.90 CD B-NP +% NN I-NP +in IN B-PP +2006 CD B-NP +, , I-NP +2007 CD I-NP +and CC I-NP +2009 CD I-NP +. . O + +A DT B-NP +Chemical NNP I-NP +Securities NNPS I-NP +group NN I-NP +won VBD B-VP +a DT O +$ $ O +100 CD O +million CD O +Oregon NNP O +general JJ O +obligation NN O +veterans NNS B-NP +' POS B-NP +tax NN I-NP +note NN I-NP +issue NN I-NP +due JJ B-ADJP +Nov. NNP B-NP +1 CD I-NP +, , I-NP +1990 CD I-NP +. . O + +The DT B-NP +6 CD I-NP +3\/4 CD I-NP +% NN I-NP +notes NNS I-NP +yield VBP B-VP +6.25 CD B-NP +% NN I-NP +. . O + +Foreign JJ B-NP +Bonds NNS I-NP + +West JJ B-NP +German JJ I-NP +government NN I-NP +bond NN I-NP +prices NNS I-NP +took VBD B-VP +a DT B-NP +wild JJ I-NP +roller-coaster NN I-NP +ride NN I-NP +, , O +pulled VBD B-VP +down RB B-ADVP +by IN B-PP +Monday NNP B-NP +'s POS B-NP +U.S. NNP I-NP +stock NN I-NP +market NN I-NP +gains NNS I-NP +then RB B-ADVP +up IN B-ADVP +by IN B-PP +a DT B-NP +wider-than-expected JJ I-NP +U.S. NNP I-NP +trade NN I-NP +deficit NN I-NP +and CC O +falling VBG B-NP +U.S. NNP I-NP +stock NN I-NP +prices NNS I-NP +. . O + +West NNP B-NP +Germany NNP I-NP +'s POS B-NP +7 CD B-ADJP +% NN I-ADJP +bond NN B-NP +due JJ B-ADJP +October NNP B-NP +1999 CD I-NP +was VBD B-VP +at IN B-PP +99.95 CD B-NP +late JJ B-NP +yesterday NN I-NP +, , O +off IN B-PP +0.10 CD B-NP +point NN I-NP +from IN B-PP +Monday NNP B-NP +, , O +to TO B-VP +yield VB I-VP +7.01 CD B-NP +% NN I-NP +. . O + +The DT B-NP +6 CD I-NP +3\/4 CD I-NP +% NN I-NP +notes NNS I-NP +due JJ B-ADJP +April NNP B-NP +1994 CD I-NP +were VBD B-VP +up IN B-ADVP +0.10 CD B-NP +point NN I-NP +to TO B-PP +97.85 CD B-NP +to TO B-VP +yield VB I-VP +7.31 CD B-NP +% NN I-NP +. . O + +British JJ B-NP +government NN I-NP +bonds NNS I-NP +surged VBD B-VP +on IN B-PRT +renewed VBN B-NP +volatility NN I-NP +in IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +. . O + +The DT B-NP +Treasury NNP I-NP +11 CD I-NP +3\/4 CD I-NP +% NN I-NP +bond NN I-NP +due JJ B-ADJP +2003\/2007 CD B-NP +rose VBD B-VP +23\/32 CD B-NP +to TO B-PP +112 CD B-NP +10\/32 CD I-NP +to TO B-VP +yield VB I-VP +10.03 CD B-NP +% NN I-NP +. . O + +But CC O +Japanese JJ B-NP +bonds NNS I-NP +ended VBD B-VP +weaker JJR B-ADJP +. . O + +The DT B-NP +benchmark NN I-NP +No. NN I-NP +111 CD I-NP +4.6 CD I-NP +% NN I-NP +bond NN I-NP +due JJ B-ADJP +1998 CD B-NP +ended VBD B-VP +on IN B-PP +brokers NNS B-NP +' POS B-NP +screens NNS I-NP +at IN B-PP +a DT B-NP +price NN I-NP +of IN B-PP +96 CD B-NP +, , O +off IN B-ADVP +0.15 CD B-NP +point NN I-NP +to TO B-VP +yield VB I-VP +5.27 CD B-NP +% NN I-NP +. . O + +A DT B-NP +House-Senate NNP I-NP +conference NN I-NP +approved VBD B-VP +an DT B-NP +estimated VBN I-NP +$ $ I-NP +67 CD I-NP +billion CD I-NP +fiscal JJ I-NP +1990 CD I-NP +spending NN I-NP +bill NN I-NP +that WDT B-NP +provides VBZ B-VP +a DT B-NP +28 CD I-NP +% NN I-NP +increase NN I-NP +for IN B-PP +space NN B-NP +research NN I-NP +and CC I-NP +development NN I-NP +and CC O +incorporates VBZ B-VP +far-reaching JJ B-NP +provisions NNS I-NP +affecting VBG B-VP +the DT B-NP +federal JJ I-NP +mortgage NN I-NP +market NN I-NP +. . O + +The DT B-NP +current JJ I-NP +ceiling NN I-NP +on IN B-PP +home NN B-NP +loans NNS I-NP +insured VBN B-VP +by IN B-PP +the DT B-NP +Federal NNP I-NP +Housing NNP I-NP +Administration NNP I-NP +would MD B-VP +be VB I-VP +increased VBN I-VP +to TO B-PP +$ $ B-NP +124,875 CD I-NP +. . O + +Separately RB B-ADVP +, , O +the DT B-NP +bill NN I-NP +gives VBZ B-VP +authority NN B-NP +to TO B-PP +the DT B-NP +Bush NNP I-NP +administration NN I-NP +to TO B-VP +facilitate VB B-VP +the DT B-NP +refinancing NN I-NP +of IN B-PP +federally RB B-NP +subsidized JJ I-NP +loans NNS I-NP +for IN B-PP +low-income JJ B-NP +and CC I-NP +moderate-income JJ I-NP +homeowners NNS I-NP +. . O + +The DT B-NP +second JJ I-NP +provision NN I-NP +, , O +affecting VBG B-VP +so-called JJ B-NP +235 CD I-NP +mortgages NNS I-NP +, , O +has VBZ B-VP +met VBN I-VP +strong JJ B-NP +opposition NN I-NP +from IN B-PP +investment NN B-NP +bankers NNS I-NP +represented VBN B-VP +by IN B-PP +the DT B-NP +Public NNP I-NP +Securities NNP I-NP +Association NNP I-NP +. . O + +And CC O +a DT B-NP +squad NN I-NP +of IN B-PP +influential JJ B-NP +former JJ I-NP +Senate NNP I-NP +aides NNS I-NP +employed VBN B-VP +by IN B-PP +the DT B-NP +Wall NNP I-NP +Street NNP I-NP +firm NN I-NP +Salomon NNP I-NP +Brothers NNPS I-NP +came VBD B-VP +to TO B-PP +the DT B-NP +Capitol NNP I-NP +in IN B-PP +a DT B-NP +vain JJ I-NP +attempt NN I-NP +to TO B-VP +strip VB I-VP +the DT B-NP +provision NN I-NP +. . O + +By IN B-PP +an DT B-NP +11-2 JJ I-NP +margin NN I-NP +, , O +Senate NNP B-NP +negotiators NNS I-NP +voted VBD B-VP +to TO I-VP +preserve VB I-VP +the DT B-NP +235 CD I-NP +mortgage NN I-NP +refinancing NN I-NP +plan NN I-NP +, , O +and CC O +despite IN B-PP +powerful JJ B-NP +allies NNS I-NP +, , O +the DT B-NP +opposition NN I-NP +found VBD B-VP +itself PRP B-NP +undercut VBP B-ADJP +by IN B-PP +an DT B-NP +unusual JJ I-NP +alliance NN I-NP +of IN B-PP +liberals NNS B-NP +and CC I-NP +conservatives NNS I-NP +. . O + +The DT B-NP +government NN I-NP +currently RB B-ADVP +is VBZ B-VP +subsidizing VBG I-VP +an DT B-NP +estimated VBN I-NP +23,000 CD I-NP +loans NNS I-NP +above IN B-PP +11 CD B-NP +% NN I-NP +under IN B-PP +the DT B-NP +235 CD I-NP +program NN I-NP +, , O +and CC O +however RB B-ADJP +disruptive JJ I-ADJP +to TO B-PP +private JJ B-NP +investors NNS I-NP +, , O +the DT B-NP +refinancing NN I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +yield VB I-VP +at IN B-NP +least JJS I-NP +$ $ I-NP +15 CD I-NP +million CD I-NP +in IN B-PP +savings NNS B-NP +in IN B-PP +fiscal JJ B-NP +1990 CD I-NP +. . O + +This DT B-NP +sum NN I-NP +has VBZ B-VP +been VBN I-VP +guarded VBN I-VP +jealously RB B-ADVP +by IN B-PP +appropriators NNS B-NP +anxious JJ B-ADJP +to TO B-VP +offset VB I-VP +spending NN B-NP +elsewhere RB B-ADVP +, , O +and CC O +conservative JJ B-NP +Sen. NNP I-NP +Phil NNP I-NP +Gramm NNP I-NP +cast NN B-VP +the DT B-NP +fight NN I-NP +as IN B-PP +a DT B-NP +populist JJ I-NP +stand NN I-NP +against IN B-PP +monied JJ B-NP +interests NNS I-NP +. . O + +`` `` O +We PRP B-NP +are VBP B-VP +stewards NNS B-NP +here RB B-ADVP +, , O +not RB O +of IN B-PP +the DT B-NP +mortgage NN I-NP +companies NNS I-NP +, , B-PP +but CC I-PP +the DT B-NP +taxpayers NNS I-NP +, , O +'' '' O +said VBD B-VP +the DT B-NP +Texas NNP I-NP +Republican NNP I-NP +. . O + +The DT B-NP +action NN I-NP +came VBD B-VP +as IN B-SBAR +the DT B-NP +administration NN I-NP +won VBD B-VP +final JJ B-NP +congressional JJ I-NP +approval NN I-NP +of IN B-PP +$ $ B-NP +9 CD I-NP +million CD I-NP +in IN B-PP +assistance NN B-NP +for IN B-PP +elections NNS B-NP +scheduled VBN B-VP +in IN B-PP +Nicaragua NNP B-NP +in IN B-PP +February NNP B-NP +. . O + +The DT B-NP +bulk NN I-NP +of IN B-PP +the DT B-NP +money NN I-NP +would MD B-VP +be VB I-VP +funneled VBN I-VP +through IN B-PP +the DT B-NP +National NNP I-NP +Endowment NNP I-NP +for IN B-PP +Democracy NNP B-NP +, , O +but CC O +the DT B-NP +legislation NN I-NP +is VBZ B-VP +so RB B-ADJP +vaguely RB I-ADJP +written VBN I-ADJP +that IN B-SBAR +it PRP B-NP +has VBZ B-VP +been VBN I-VP +dogged VBN I-VP +by IN B-PP +questions NNS B-NP +regarding VBG B-VP +the DT B-NP +money NN I-NP +'s POS B-NP +true JJ I-NP +purpose NN I-NP +and CC O +its PRP$ B-NP +ultimate JJ I-NP +destination NN I-NP +. . O + +The DT B-NP +Senate NNP I-NP +had VBD B-VP +refused VBN I-VP +late JJ B-NP +Friday NNP I-NP +to TO B-VP +invoke VB I-VP +cloture NN B-NP +and CC O +limit NN B-VP +debate NN B-NP +, , O +but CC O +behind IN B-PP +the DT B-NP +bipartisan JJ I-NP +leadership NN I-NP +, , O +a DT B-NP +solid JJ I-NP +majority NN I-NP +took VBD B-VP +shape NN B-NP +yesterday NN B-NP +and CC O +brushed VBD B-VP +aside RB B-ADVP +amendments NNS B-NP +seeking VBG B-VP +to TO I-VP +cut VB I-VP +the DT B-NP +total JJ I-NP +package NN I-NP +or CC O +steer VB B-VP +it PRP B-NP +away RB B-ADVP +from IN B-PP +direct JJ B-NP +aid NN I-NP +to TO B-PP +political JJ B-NP +parties NNS I-NP +. . O + +Final JJ B-NP +approval NN I-NP +-- : O +on IN B-PP +a DT B-NP +64-35 JJ I-NP +roll NN I-NP +call NN I-NP +-- : O +was VBD B-VP +never RB B-ADVP +in IN B-PP +doubt NN B-NP +, , O +but CC O +the DT B-NP +opposition NN I-NP +drew VBD B-VP +an DT B-NP +unusual JJ I-NP +mix NN I-NP +of IN B-PP +senators NNS B-NP +, , O +including VBG B-PP +Republicans NNP B-NP +Jesse NNP I-NP +Helms NNP I-NP +and CC I-NP +Warren NNP I-NP +Rudman NNP I-NP +and CC O +Democrats NNP B-NP +Bill NNP I-NP +Bradley NNP I-NP +and CC I-NP +John NNP I-NP +Glenn NNP I-NP +. . O + +The DT B-NP +money NN I-NP +will MD B-VP +be VB I-VP +applied VBN I-VP +for IN B-PP +voter NN B-NP +registration NN I-NP +and CC O +election NN B-NP +monitoring NN I-NP +, , O +but CC O +more JJR B-NP +than IN I-NP +half NN I-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +go VB I-VP +to TO B-PP +the DT B-NP +Union NNP I-NP +Nacional NNP I-NP +Opositora NNP I-NP +party NN I-NP +. . O + +Critics NNS B-NP +warned VBD B-VP +such JJ B-NP +cash NN I-NP +contributions NNS I-NP +may MD B-VP +only RB I-VP +undercut VB I-VP +the DT B-NP +opposition NN I-NP +party NN I-NP +'s POS B-NP +standing VBG I-NP +, , O +and CC O +one CD B-NP +irony NN I-NP +is VBZ B-VP +that IN O +under IN B-PP +Nicaraguan JJ B-NP +law NN I-NP +a DT B-NP +major JJ I-NP +portion NN I-NP +of IN B-PP +the DT B-NP +opposition NN I-NP +party NN I-NP +'s POS B-NP +funds NNS I-NP +must MD B-VP +be VB I-VP +shared VBN I-VP +with IN B-PP +the DT B-NP +government NN I-NP +'s POS B-NP +Supreme NNP I-NP +Electoral NNP I-NP +Council NNP I-NP +. . O + +Within IN B-PP +the DT B-NP +appropriations NNS I-NP +conference NN I-NP +yesterday NN B-NP +, , O +the DT B-NP +$ $ I-NP +67 CD I-NP +billion CD I-NP +measure NN I-NP +is VBZ B-VP +the DT B-NP +second JJ I-NP +largest JJS I-NP +of IN B-PP +the DT B-NP +annual JJ I-NP +domestic JJ I-NP +spending NN I-NP +bills NNS I-NP +and CC O +covers VBZ B-VP +a DT B-NP +disparate JJ I-NP +collection NN I-NP +of IN B-PP +accounts NNS B-NP +for IN B-PP +science NN B-NP +, , O +housing NN B-NP +, , O +veterans NNS B-NP +and CC O +the DT B-NP +environment NN I-NP +. . O + +The DT B-NP +decision NN I-NP +to TO B-VP +raise VB I-VP +the DT B-NP +ceiling NN I-NP +on IN B-PP +FHA NNP B-NP +home NN I-NP +loans NNS I-NP +still RB B-ADVP +faces VBZ B-VP +strong JJ B-NP +opposition NN I-NP +in IN B-PP +the DT B-NP +House NNP I-NP +. . O + +But CC O +it PRP B-NP +is VBZ B-VP +driven VBN I-VP +by IN B-PP +the DT B-NP +same JJ I-NP +fiscal JJ I-NP +pressures NNS I-NP +that WDT B-NP +have VBP B-VP +forced VBN I-VP +lawmakers NNS B-NP +to TO B-VP +resort VB I-VP +to TO B-PP +various JJ B-NP +bookkeeping NN I-NP +devices NNS I-NP +to TO B-VP +juggle VB I-VP +as RB B-NP +much JJ I-NP +as IN I-NP +$ $ I-NP +1 CD I-NP +billion CD I-NP +in IN B-PP +spending NN B-NP +that WDT B-NP +would MD B-VP +otherwise RB I-VP +put VB I-VP +the DT B-NP +bill NN I-NP +over IN B-PP +budget NN B-NP +. . O + +These DT B-NP +costs NNS I-NP +will MD B-VP +complicate VB I-VP +the DT B-NP +budget NN I-NP +picture NN I-NP +in IN B-PP +fiscal JJ B-NP +1991 CD I-NP +, , O +and CC O +the DT B-NP +measure NN I-NP +further JJ B-VP +commits VBZ I-VP +Congress NNP B-NP +to TO B-PP +a DT B-NP +set NN I-NP +of IN B-PP +costly JJ B-NP +projects NNS I-NP +, , O +including VBG B-PP +the DT B-NP +first JJ I-NP +construction NN I-NP +funds NNS I-NP +for IN B-PP +the DT B-NP +space NN I-NP +station NN I-NP +. . O + +The DT B-NP +station NN I-NP +is VBZ B-VP +promised VBN I-VP +$ $ B-NP +1.8 CD I-NP +billion CD I-NP +within IN B-PP +the DT B-NP +$ $ I-NP +5.36 CD I-NP +billion CD I-NP +provided VBN B-VP +for IN B-PP +research NN B-NP +and CC I-NP +development NN I-NP +in IN B-PP +the DT B-NP +National NNP I-NP +Aeronautics NNP I-NP +and CC I-NP +Space NNP I-NP +Administration NNP I-NP +, , O +and CC O +the DT B-NP +nation NN I-NP +'s POS B-NP +high-speed JJ I-NP +aerospace NN I-NP +plane NN I-NP +-- : O +cut VB B-VP +by IN B-PP +the DT B-NP +Senate NNP I-NP +-- : O +could MD B-VP +receive VB I-VP +as RB B-NP +much JJ I-NP +as IN I-NP +$ $ I-NP +60 CD I-NP +million CD I-NP +in IN B-PP +new JJ B-NP +funds NNS I-NP +or CC O +transfers NNS B-NP +. . O + +Similarly RB B-ADVP +, , O +the DT B-NP +House NNP I-NP +agreed VBD B-VP +to TO I-VP +add VB I-VP +back RB B-ADVP +$ $ B-NP +62 CD I-NP +million CD I-NP +to TO B-VP +continue VB I-VP +work NN B-NP +on IN B-PP +the DT B-NP +advanced VBN I-NP +communications NNS I-NP +technology NN I-NP +satellite NN I-NP +, , O +being VBG B-VP +developed VBN I-VP +by IN B-PP +General NNP B-NP +Electric NNP I-NP +Co NNP I-NP +. . O + +And CC O +while IN B-SBAR +setting VBG B-VP +a DT B-NP +statutory JJ I-NP +limit NN I-NP +of IN B-PP +$ $ B-NP +1.6 CD I-NP +billion CD I-NP +on IN B-PP +the DT B-NP +automated VBN I-NP +space NN I-NP +probe NN I-NP +, , O +the DT B-NP +conference NN I-NP +appropriated VBN B-VP +$ $ B-NP +30 CD I-NP +million CD I-NP +for IN B-PP +the DT B-NP +start-up NN I-NP +of IN B-PP +the DT B-NP +CRAF-Cassini NNP I-NP +mission NN I-NP +, , O +a DT B-NP +successor NN I-NP +to TO B-PP +the DT B-NP +Voyager NNP I-NP +space NN I-NP +probe NN I-NP +. . O + +Among IN B-PP +major JJ B-NP +domestic JJ I-NP +agencies NNS I-NP +, , O +the DT B-NP +Environmental NNP I-NP +Protection NNP I-NP +Agency NNP I-NP +stands VBZ B-VP +to TO I-VP +receive VB I-VP +increases NNS B-NP +significantly RB B-ADVP +beyond IN B-PP +those DT B-NP +sought VBN B-VP +by IN B-PP +the DT B-NP +administration NN I-NP +, , O +with IN B-PP +pollution NN B-NP +abatement NN I-NP +and CC I-NP +control NN I-NP +accounts NNS I-NP +growing VBG B-VP +by IN B-PP +14 CD B-NP +% NN I-NP +to TO B-PP +about RB B-NP +$ $ I-NP +829.9 CD I-NP +million CD I-NP +. . O + +An DT B-NP +estimated VBN I-NP +$ $ I-NP +1.57 CD I-NP +billion CD I-NP +is VBZ B-VP +separately RB I-VP +allocated VBN I-VP +for IN B-PP +the DT B-NP +National NNP I-NP +Science NNP I-NP +Foundation NNP I-NP +, , O +and CC O +within IN B-PP +the DT B-NP +Housing NNP I-NP +and CC I-NP +Urban NNP I-NP +Development NNP I-NP +Department NNP I-NP +, , O +more JJR B-NP +than IN I-NP +$ $ I-NP +9.2 CD I-NP +billion CD I-NP +is VBZ B-VP +provided VBN I-VP +for IN B-PP +federally RB B-NP +assisted VBN I-NP +housing NN I-NP +, , O +including VBG B-PP +an DT B-NP +expanded VBN I-NP +effort NN I-NP +to TO B-VP +modernize VB I-VP +public JJ B-NP +housing NN I-NP +units NNS I-NP +that WDT B-NP +serve VBP B-VP +the DT B-NP +poorest JJS I-NP +families NNS I-NP +. . O + +To TO B-PP +an DT B-NP +unusual JJ I-NP +degree NN I-NP +, , O +the DT B-NP +massive JJ I-NP +bill NN I-NP +has VBZ B-VP +become VBN I-VP +a DT B-NP +vehicle NN I-NP +for IN B-SBAR +lawmakers NNS B-NP +to TO B-VP +earmark VB I-VP +funds NNS B-NP +for IN B-PP +projects NNS B-NP +in IN B-PP +home NN B-NP +states NNS I-NP +. . O + +While IN B-SBAR +the DT B-NP +practice NN I-NP +was VBD B-VP +discouraged VBN I-VP +in IN B-PP +the DT B-NP +past NN I-NP +, , O +the DT B-NP +conference NN I-NP +agreement NN I-NP +is VBZ B-VP +laced VBN I-VP +with IN B-PP +veterans NNS B-NP +' POS B-NP +hospitals NNS I-NP +, , O +environmental JJ B-NP +projects NNS I-NP +and CC O +urban JJ B-NP +grants NNS I-NP +designated VBN B-VP +for IN B-PP +specific JJ B-NP +communities NNS I-NP +. . O + +The DT B-NP +most RBS I-NP +striking JJ I-NP +example NN I-NP +yesterday NN B-NP +may MD B-VP +have VB I-VP +been VBN I-VP +in IN B-PP +community NN B-NP +development NN I-NP +funds NNS I-NP +, , O +where WRB B-ADVP +the DT B-NP +two CD I-NP +houses NNS I-NP +had VBD B-VP +separately RB I-VP +approved VBN I-VP +a DT B-NP +total NN I-NP +of IN B-PP +27 CD B-NP +projects NNS I-NP +valued VBN B-VP +at IN B-PP +$ $ B-NP +20 CD I-NP +million CD I-NP +, , O +and CC O +the DT B-NP +conference NN I-NP +added VBD B-VP +15 CD B-NP +more RBR I-NP +valued VBN B-VP +at IN B-PP +$ $ B-NP +8 CD I-NP +million CD I-NP +to TO B-VP +ostensibly RB I-VP +preserve VB I-VP +`` `` O +balance NN B-NP +'' '' O +between IN B-PP +the DT B-NP +House NNP I-NP +and CC I-NP +Senate NNP I-NP +. . O + +Yesterday NN B-NP +'s POS B-NP +conference NN I-NP +agreement NN I-NP +is VBZ B-VP +the DT B-NP +second JJ I-NP +major JJ I-NP +bill NN I-NP +to TO B-VP +emerge VB I-VP +from IN B-PP +negotiations NNS B-NP +this DT B-NP +week NN I-NP +, , O +as IN B-SBAR +appropriators NNS B-NP +approved VBD B-VP +a DT B-NP +fiscal JJ I-NP +1990 CD I-NP +transportation NN I-NP +bill NN I-NP +late JJ B-NP +Monday NNP I-NP +that WDT B-NP +includes VBZ B-VP +a DT B-NP +sweeping VBG I-NP +ban NN I-NP +on IN B-PP +smoking NN B-VP +on IN B-PP +most RBS B-NP +domestic JJ I-NP +airline NN I-NP +flights NNS I-NP +. . O + +An DT B-NP +exemption NN I-NP +will MD B-VP +remain VB I-VP +for IN B-PP +flights NNS B-NP +longer RB B-ADJP +than IN B-PP +six CD B-NP +hours NNS I-NP +to TO B-PP +Hawaii NNP B-NP +and CC I-NP +Alaska NNP I-NP +, , O +but CC O +estimates NNS B-NP +by IN B-PP +the DT B-NP +tobacco NN I-NP +industry NN I-NP +yesterday NN B-NP +indicate VB B-VP +all DT B-NP +but CC I-NP +about IN I-NP +30 CD I-NP +flights NNS I-NP +would MD B-VP +be VB I-VP +covered VBN I-VP +. . O + +Separately RB B-ADVP +, , O +a DT B-NP +third JJ I-NP +conference NN I-NP +report NN I-NP +covering VBG B-VP +an DT B-NP +$ $ I-NP +18.4 CD I-NP +billion CD I-NP +Treasury NNP I-NP +and CC I-NP +Postal NNP I-NP +Service NNP I-NP +bill NN I-NP +was VBD B-VP +sent VBN I-VP +to TO B-PP +the DT B-NP +Senate NNP I-NP +after IN B-PP +passing VBG B-VP +the DT B-NP +House NNP I-NP +on IN B-PP +a DT B-NP +383-30 JJ I-NP +roll NN I-NP +call NN I-NP +yesterday NN B-NP +. . O + +And CC O +after IN B-PP +weeks NNS B-NP +of IN B-PP +delay NN B-NP +, , O +the DT B-NP +appropriations NNS I-NP +process VBP I-NP +is VBZ B-VP +beginning VBG I-VP +to TO I-VP +take VB I-VP +some DT B-NP +final JJ I-NP +shape NN I-NP +. . O + +Defense NNP B-NP +and CC O +foreign JJ B-NP +aid NN I-NP +are VBP B-VP +the DT B-NP +two CD I-NP +most RBS I-NP +critical JJ I-NP +areas NNS I-NP +remaining VBG B-VP +from IN B-PP +the DT B-NP +administration NN I-NP +'s POS B-NP +standpoint NN I-NP +. . O + +And CC O +among IN B-PP +domestic JJ B-NP +programs NNS I-NP +, , O +the DT B-NP +most RBS I-NP +serious JJ I-NP +threat NN I-NP +is VBZ B-VP +White NNP B-NP +House NNP I-NP +opposition NN I-NP +to TO B-PP +abortion NN B-NP +riders NNS I-NP +attached VBN B-VP +to TO B-PP +separate VB B-NP +bills NNS I-NP +funding VBG B-VP +the DT B-NP +District NNP I-NP +of IN B-PP +Columbia NNP B-NP +and CC O +Department NNP B-NP +of IN B-PP +Health NNP B-NP +and CC O +Human NNP B-NP +Services NNP I-NP +. . O + +The DT B-NP +same JJ I-NP +issue NN I-NP +threatens VBZ B-VP +to TO I-VP +spill VB I-VP +over IN B-PRT +to TO B-PP +the DT B-NP +foreign JJ I-NP +aid NN I-NP +debate NN I-NP +, , O +and CC O +Mr. NNP B-NP +Bush NNP I-NP +also RB B-ADVP +is VBZ B-VP +threatening VBG I-VP +to TO I-VP +veto VB I-VP +any DT B-NP +agreement NN I-NP +that WDT B-NP +preserves VBZ B-VP +Senate-passed JJ B-NP +provisions NNS I-NP +renewing VBG B-VP +U.S. NNP B-NP +support NN I-NP +for IN B-PP +the DT B-NP +United NNP I-NP +Nations NNP I-NP +Fund NNP I-NP +for IN B-PP +Population NNP B-NP +Activities NNP I-NP +. . O + +In IN B-PP +a DT B-NP +sharply RB I-NP +written VBN I-NP +letter NN I-NP +, , O +Rep. NNP B-NP +David NNP I-NP +Obey NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +the DT B-NP +House NNP I-NP +appropriations NNS I-NP +subcommittee NN I-NP +for IN B-PP +foreign JJ B-NP +operations NNS I-NP +, , O +warned VBD B-VP +Mr. NNP B-NP +Bush NNP I-NP +that IN B-SBAR +the DT B-NP +result NN I-NP +of IN B-PP +his PRP$ B-NP +`` `` I-NP +ultimatum NN I-NP +'' '' O +could MD B-VP +weaken VB I-VP +efforts NNS B-NP +to TO B-VP +accommodate VB I-VP +the DT B-NP +administration NN I-NP +elsewhere RB B-ADVP +. . O + +`` `` O +As IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +your PRP$ B-NP +ultimatum NN I-NP +, , O +'' '' O +writes VBZ B-VP +the DT B-NP +Wisconsin NNP I-NP +Democrat NNP I-NP +, , O +`` `` O +I PRP B-NP +guess VBP B-VP +there EX B-NP +is VBZ B-VP +no RB B-ADVP +longer RB I-ADVP +any DT B-NP +point NN I-NP +in IN B-PP +taking VBG B-VP +administration NN B-NP +views NNS I-NP +into IN B-PP +account NN B-NP +on IN B-PP +other JJ B-NP +items NNS I-NP +in IN B-PP +conference NN B-NP +, , O +inasmuch RB B-ADVP +regardless RB B-ADVP +of IN B-PP +their PRP$ B-NP +resolution NN I-NP +you PRP B-NP +apparently RB B-ADVP +intend VBP B-VP +to TO I-VP +veto VB I-VP +this DT B-NP +bill NN I-NP +. . O + +Markets NNS B-NP +usually RB B-ADVP +get VB B-VP +noticed VBD I-VP +because IN B-SBAR +they PRP B-NP +soar VBP B-VP +or CC I-VP +plunge NN I-VP +. . O + +Gold NNP B-NP +, , O +which WDT B-NP +has VBZ B-VP +n't RB I-VP +risen VBN I-VP +or CC I-VP +fallen VBN I-VP +significantly RB B-ADVP +in IN B-PP +quite RB B-NP +some DT I-NP +time NN I-NP +, , O +yesterday NN B-NP +achieved VBN B-VP +what WP B-NP +may MD B-VP +be VB I-VP +a DT B-NP +new JJ I-NP +level NN I-NP +of IN B-PP +impassiveness NN B-NP +: : O +The DT B-NP +most RBS I-NP +actively RB I-NP +traded VBN I-NP +futures NNS I-NP +contracts NNS I-NP +closed VBD B-VP +unchanged JJ B-ADJP +despite IN B-PP +nervous JJ B-NP +fluctuations NNS I-NP +in IN B-PP +both DT O +the DT B-NP +dollar NN I-NP +and CC O +the DT B-NP +stock NN I-NP +market NN I-NP +. . O + +The DT B-NP +settlement NN I-NP +prices NNS I-NP +of IN B-PP +the DT B-NP +December NNP I-NP +, , I-NP +February NNP I-NP +and CC I-NP +April NNP I-NP +gold NN I-NP +contracts NNS I-NP +were VBD B-VP +even RB B-ADJP +with IN B-PP +Monday NNP B-NP +'s POS B-NP +final JJ I-NP +prices NNS I-NP +. . O + +The DT B-NP +December NNP I-NP +1989 CD I-NP +contract NN I-NP +, , O +which WDT B-NP +has VBZ B-VP +the DT B-NP +greatest JJS I-NP +trading NN I-NP +volume NN I-NP +, , O +ended VBD B-VP +at IN B-PP +$ $ B-NP +371.20 CD I-NP +an DT B-NP +ounce NN I-NP +. . O + +The DT B-NP +other JJ I-NP +months NNS I-NP +posted VBD B-VP +advances NNS B-NP +of IN B-PP +10 CD B-NP +cents NNS I-NP +to TO I-NP +20 CD I-NP +cents NNS I-NP +an DT B-NP +ounce NN I-NP +. . O + +According VBG B-PP +to TO B-PP +one CD B-NP +analyst NN I-NP +, , O +Bernard NNP B-NP +Savaiko NNP I-NP +of IN B-PP +PaineWebber NNP B-NP +, , O +New NNP B-NP +York NNP I-NP +, , O +the DT B-NP +stock NN I-NP +market NN I-NP +'s POS B-NP +ability NN I-NP +on IN B-PP +Monday NNP B-NP +to TO B-VP +rally VB I-VP +from IN B-PP +last JJ B-NP +Friday NNP I-NP +'s POS B-NP +decline NN I-NP +-- : O +which WDT B-NP +seemed VBD B-VP +to TO I-VP +indicate VB I-VP +that IN B-SBAR +the DT B-NP +economy NN I-NP +was VBD B-VP +n't RB I-VP +going VBG I-VP +to TO I-VP +fall VB I-VP +either DT B-ADVP +-- : O +took VBD B-VP +the DT B-NP +starch NN I-NP +out IN B-ADVP +of IN B-PP +precious JJ B-NP +metals NNS I-NP +prices NNS I-NP +, , B-ADVP +and CC I-ADVP +out IN B-ADVP +of IN B-PP +gold NN B-NP +'s POS B-NP +, , O +in IN B-PP +particular NN B-NP +. . O + +Yesterday NN B-NP +, , O +gold NN B-NP +traded VBN B-VP +within IN B-PP +a DT B-NP +narrow JJ I-NP +range NN I-NP +. . O + +Gold NNP B-NP +tried VBD B-VP +to TO I-VP +rally VB I-VP +on IN B-PP +Monday NNP B-NP +but CC O +ran VBD B-VP +into IN B-PP +the DT B-NP +same JJ I-NP +situation NN I-NP +that WDT B-NP +has VBZ B-VP +subdued VBN I-VP +gold NN B-NP +prices NNS I-NP +for IN B-PP +more JJR B-NP +than IN I-NP +a DT I-NP +year NN I-NP +: : O +selling VBG B-VP +by IN B-PP +gold NN B-NP +producers NNS I-NP +, , O +who WP B-NP +want VBP B-VP +to TO I-VP +fix VB I-VP +the DT B-NP +highest JJS I-NP +possible JJ I-NP +price NN I-NP +for IN B-PP +their PRP$ B-NP +gold NN I-NP +. . O + +`` `` O +December NNP B-NP +delivery NN I-NP +gold NN I-NP +is VBZ B-VP +trading VBG I-VP +in IN B-PP +a DT B-NP +range NN I-NP +of IN B-PP +$ $ B-NP +365 CD I-NP +to TO I-NP +$ $ I-NP +375 CD I-NP +-LCB- ( O +an DT B-NP +ounce NN I-NP +-RCB- ) O +and CC O +is VBZ B-VP +having VBG I-VP +difficulty NN B-NP +breaking VBG B-VP +out IN B-PRT +above IN B-PP +that DT B-NP +, , O +'' '' O +Mr. NNP B-NP +Savaiko NNP I-NP +said VBD B-VP +. . O + +`` `` O +Producers NNS B-NP +at IN B-PP +the DT B-NP +moment NN I-NP +regard NN B-VP +that DT B-NP +area NN I-NP +a DT B-NP +good JJ I-NP +one CD I-NP +in IN B-PP +which WDT B-NP +to TO B-VP +sell VB I-VP +gold NN B-NP +. . O +'' '' O + +Also RB B-ADVP +, , O +Mr. NNP B-NP +Savaiko NNP I-NP +noted VBD B-VP +, , O +stock NN B-NP +market NN I-NP +investors NNS I-NP +seeking VBG B-VP +greater JJR B-NP +safety NN I-NP +are VBP B-VP +veering VBG I-VP +toward IN B-PP +buying VBG B-VP +bonds NNS B-NP +rather RB B-PP +than IN I-PP +precious JJ B-NP +metals NNS I-NP +because IN B-SBAR +`` `` O +we PRP B-NP +are VBP B-VP +tending VBG I-VP +more JJR B-ADVP +toward IN B-PP +a DT B-NP +disinflationary JJ I-NP +economy NN I-NP +that WDT B-NP +does VBZ B-VP +n't RB I-VP +make VB I-VP +gold NN B-NP +and CC O +precious JJ B-NP +metals NNS I-NP +attractive JJ B-ADJP +. . O +'' '' O + +Jeffrey NNP B-NP +Nichols NNP I-NP +, , O +president NN B-NP +of IN B-PP +APMS NNP B-NP +Canada NNP I-NP +, , O +Toronto NNP B-NP +precious JJ I-NP +metals NNS I-NP +advisers NNS I-NP +, , O +said VBD B-VP +there EX B-NP +is VBZ B-VP +little JJ B-NP +to TO B-VP +motivate VB I-VP +gold NN B-NP +traders NNS I-NP +to TO B-VP +buy VB I-VP +the DT B-NP +metal NN I-NP +. . O + +`` `` O +Investors NNS B-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +and CC O +Europe NNP B-NP +are VBP B-VP +comfortable JJ B-ADJP +with IN B-PP +the DT B-NP +actions NNS I-NP +of IN B-PP +the DT B-NP +-LCB- ( I-NP +Federal NNP I-NP +Reserve NNP I-NP +-RCB- ) O +in IN B-PP +its PRP$ B-NP +willingness NN I-NP +to TO B-VP +supply VB I-VP +liquidity NN B-NP +to TO B-PP +financial JJ B-NP +system NN I-NP +, , O +which WDT B-NP +helped VBD B-VP +the DT B-NP +stock NN I-NP +market NN I-NP +rebound NN B-VP +on IN B-PP +Monday NNP B-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +There EX B-NP +is VBZ B-VP +n't RB O +any DT B-NP +rush NN I-NP +on IN B-PP +the DT B-NP +part NN I-NP +of IN B-PP +investors NNS B-NP +in IN B-PP +the DT B-NP +West NNP I-NP +to TO B-VP +buy VB I-VP +gold NN B-NP +, , O +he PRP B-NP +said VBD B-VP +. . O + +`` `` O +They PRP B-NP +still RB B-ADVP +bear VBP B-VP +the DT B-NP +memory NN I-NP +of IN B-PP +October NNP B-NP +1987 CD I-NP +, , O +when WRB B-ADVP +they PRP B-NP +bought VBD B-VP +gold NN B-NP +after IN B-SBAR +the DT B-NP +stock NN I-NP +market NN I-NP +crashed VBD B-VP +and CC O +ended VBD B-VP +up IN B-PRT +losing VBG B-VP +money NN B-NP +because IN B-SBAR +gold NN B-NP +prices NNS I-NP +subsequently RB B-ADVP +fell VBD B-VP +, , O +'' '' O +Mr. NNP B-NP +Nichols NNP I-NP +said VBD B-VP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +an DT B-NP +experience NN I-NP +they PRP B-NP +do VBP B-VP +n't RB I-VP +want VB I-VP +to TO I-VP +repeat VB I-VP +. . O +'' '' O + +At IN B-PP +the DT B-NP +moment NN I-NP +gold NN B-NP +traders NNS I-NP +are VBP B-VP +n't RB I-VP +concerned VBN I-VP +about IN B-PP +inflation NN B-NP +, , O +he PRP B-NP +said VBD B-VP +, , O +and CC O +as IN B-PP +for IN B-PP +the DT B-NP +dollar NN I-NP +, , O +`` `` O +gold NN B-NP +'s POS B-NP +association NN I-NP +with IN B-PP +the DT B-NP +currency NN I-NP +has VBZ B-VP +been VBN I-VP +diminishing VBG I-VP +recently RB B-ADVP +so RB O +drops VBZ B-NP +in IN B-PP +the DT B-NP +currency NN I-NP +are VBP B-VP +n't RB I-VP +having VBG I-VP +much JJ B-NP +impact NN I-NP +on IN B-PP +gold NN B-NP +. . O +'' '' O + +Dinsa NNP B-NP +Mehta NNP I-NP +, , O +chief JJ B-NP +bullion NN I-NP +trader NN I-NP +for IN B-PP +Chase NNP B-NP +Manhattan NNP I-NP +Bank NNP I-NP +, , O +said VBD B-VP +: : O +`` `` O +There EX B-NP +is VBZ B-VP +little JJ B-NP +incentive NN I-NP +on IN B-PP +the DT B-NP +part NN I-NP +of IN B-PP +traders NNS B-NP +to TO B-VP +sell VB I-VP +gold NN B-NP +because IN B-SBAR +the DT B-NP +stock NN I-NP +market NN I-NP +may MD B-VP +go VB I-VP +lower JJR B-ADVP +and CC O +gold NN B-NP +may MD B-VP +retain VB I-VP +some DT B-NP +of IN B-PP +its PRP$ O +` `` O +flight NN O +to TO B-PP +safety VB B-NP +' POS B-NP +quality NN I-NP +. . O + +There EX B-NP +is VBZ B-VP +little JJ B-NP +incentive NN I-NP +to TO B-VP +buy VB I-VP +gold NN B-NP +because IN B-SBAR +if IN B-SBAR +the DT B-NP +stock NN I-NP +market NN I-NP +goes VBZ B-VP +higher JJR B-ADVP +, , O +it PRP B-NP +may MD B-VP +be VB I-VP +just RB B-NP +a DT I-NP +false JJ I-NP +alarm NN I-NP +. . O + +This DT B-NP +is VBZ B-VP +keeping VBG I-VP +the DT B-NP +gold NN I-NP +traders NNS I-NP +handcuffed VBN B-ADJP +. . O +'' '' O + +The DT B-NP +most RBS I-NP +remarkable JJ I-NP +feature NN I-NP +about IN B-PP +yesterday NN B-NP +'s POS B-NP +action NN I-NP +was VBD B-VP +that IN B-SBAR +the DT B-NP +price NN I-NP +of IN B-PP +roughly RB B-NP +$ $ I-NP +370 CD I-NP +an DT B-NP +ounce NN I-NP +was VBD B-VP +regarded VBN I-VP +as IN B-PP +attractive JJ B-ADJP +enough RB I-ADJP +by IN B-PP +gold NN B-NP +producers NNS I-NP +around IN B-PP +the DT B-NP +world NN I-NP +to TO B-VP +aggressively RB I-VP +sell VB I-VP +gold NN B-NP +, , O +Mr. NNP B-NP +Mehta NNP I-NP +said VBD B-VP +. . O + +`` `` O +I PRP B-NP +do VBP B-VP +n't RB I-VP +know VB I-VP +what WP B-NP +it PRP B-NP +means VBZ B-VP +over IN B-PP +the DT B-NP +long JJ I-NP +run NN I-NP +, , O +but CC O +for IN B-PP +the DT B-NP +short JJ I-NP +term NN I-NP +, , O +it PRP B-NP +appears VBZ B-VP +that IN B-SBAR +gold NN B-NP +producers NNS I-NP +are VBP B-VP +grateful JJ B-ADJP +for IN B-PP +the DT B-NP +$ $ I-NP +10 CD I-NP +or CC I-NP +so RB I-NP +that DT B-NP +gold NN B-NP +has VBZ B-VP +risen VBN I-VP +over IN B-PP +the DT B-NP +past JJ I-NP +week NN I-NP +or CC I-NP +so RB I-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +Previously RB B-ADVP +, , O +he PRP B-NP +noted VBD B-VP +, , O +gold NN B-NP +producers NNS I-NP +tended VBD B-VP +to TO I-VP +back RB I-VP +off IN B-PRT +from IN B-PP +a DT B-NP +rising VBG I-NP +gold NN I-NP +market NN I-NP +, , O +letting VBG B-VP +prices NNS B-NP +rise VBP B-VP +as RB B-NP +much JJ I-NP +as IN B-PP +possible JJ B-ADJP +before IN B-PP +selling VBG B-VP +. . O + +Mr. NNP B-NP +Mehta NNP I-NP +observed VBD B-VP +that IN B-SBAR +the DT B-NP +U.S. NNP I-NP +merchandise NN I-NP +trade NN I-NP +deficit NN I-NP +, , O +which WDT B-NP +rose VBD B-VP +sharply RB B-ADVP +in IN B-PP +August NNP B-NP +, , O +according VBG B-PP +to TO B-PP +yesterday NN B-NP +'s POS B-NP +report NN I-NP +, , O +has VBZ B-VP +been VBN I-VP +having VBG I-VP +less JJR B-NP +and CC I-NP +less JJR I-NP +impact NN I-NP +on IN B-PP +the DT B-NP +gold NN I-NP +market NN I-NP +. . O + +`` `` O +The DT B-NP +dollar NN I-NP +has VBZ B-VP +n't RB I-VP +reacted VBN I-VP +much JJ B-ADVP +to TO B-PP +it PRP B-NP +, , O +so RB B-ADVP +gold NN B-NP +has VBZ B-VP +n't RB O +either DT B-ADVP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +In IN B-PP +other JJ B-NP +commodity NN I-NP +markets NNS I-NP +yesterday NN B-NP +: : O + +ENERGY NN B-NP +: : O + +Crude JJ B-NP +oil NN I-NP +prices NNS I-NP +rose VBD B-VP +slightly RB B-ADVP +in IN B-PP +lackluster JJ B-NP +activity NN I-NP +as IN B-SBAR +traders NNS B-NP +in IN B-PP +the DT B-NP +pits NNS I-NP +tried VBD B-VP +to TO I-VP +assess VB I-VP +action NN B-NP +in IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +. . O + +Since IN B-SBAR +stock NN B-NP +market NN I-NP +indexes NNS I-NP +plummeted VBD B-VP +last JJ B-NP +Friday NNP I-NP +, , O +participants NNS B-NP +in IN B-PP +all DT B-NP +markets NNS I-NP +have VBP B-VP +been VBN I-VP +wary JJ B-ADJP +. . O + +When WRB B-ADVP +traders NNS B-NP +become VBP B-VP +confident JJ B-ADJP +that IN B-SBAR +the DT B-NP +stock NN I-NP +market NN I-NP +has VBZ B-VP +stabilized VBN I-VP +, , O +oil NN B-NP +prices NNS I-NP +are VBP B-VP +expected VBN I-VP +to TO I-VP +rise VB I-VP +as IN B-SBAR +supply NN B-NP +and CC I-NP +demand NN I-NP +fundamentals NNS I-NP +once RB B-ADVP +again RB I-ADVP +become VB B-VP +the DT B-NP +major JJ I-NP +consideration NN I-NP +. . O + +Crude JJ B-NP +oil NN I-NP +for IN B-PP +November NNP B-NP +delivery NN I-NP +edged VBD B-VP +up IN B-PRT +by IN B-PP +16 CD B-NP +cents NNS I-NP +a DT B-NP +barrel NN I-NP +to TO B-PP +$ $ B-NP +20.75 CD I-NP +a DT B-NP +barrel NN I-NP +. . O + +Heating NN B-NP +oil NN I-NP +prices NNS I-NP +also RB B-ADVP +rose VBD B-VP +. . O + +November NNP B-NP +gasoline NN I-NP +slipped VBD B-VP +slightly RB B-ADVP +. . O + +SUGAR NN B-NP +: : O + +Futures NNS B-NP +prices NNS I-NP +rose VBD B-VP +on IN B-PP +a DT B-NP +report NN I-NP +that IN B-SBAR +Cuba NNP B-NP +may MD B-VP +seek VB I-VP +to TO I-VP +postpone VB I-VP +some DT B-NP +sugar NN I-NP +shipments NNS I-NP +. . O + +The DT B-NP +March NNP I-NP +contract NN I-NP +advanced VBD B-VP +0.14 CD B-NP +cent NN I-NP +a DT B-NP +pound NN I-NP +to TO B-PP +14.11 CD B-NP +cents NNS I-NP +. . O + +According VBG B-PP +to TO B-PP +an DT B-NP +analyst NN I-NP +, , O +Cuba NNP B-NP +ca MD B-VP +n't RB I-VP +meet VB I-VP +all DT B-NP +its PRP$ I-NP +shipment NN I-NP +commitments NNS I-NP +and CC O +has VBZ B-VP +asked VBN I-VP +Japan NNP B-NP +to TO B-VP +accept VB I-VP +a DT B-NP +delay NN I-NP +of IN B-PP +shipments NNS B-NP +scheduled VBN B-VP +for IN B-PP +later RB B-NP +this DT I-NP +year NN I-NP +, , O +into IN B-PP +early JJ B-NP +next JJ I-NP +year NN I-NP +. . O + +`` `` O +Japan NNP B-NP +is VBZ B-VP +perceived VBN I-VP +as IN B-PP +a DT B-NP +wealthy JJ I-NP +nation NN I-NP +that WDT B-NP +can MD B-VP +turn VB I-VP +elsewhere RB B-ADVP +in IN B-PP +the DT B-NP +world NN I-NP +market NN I-NP +and CC O +buy VB B-VP +the DT B-NP +sugar NN I-NP +, , O +'' '' O +the DT B-NP +analyst NN I-NP +said VBD B-VP +. . O + +It PRP B-NP +was VBD B-VP +the DT B-NP +possibility NN I-NP +of IN B-PP +this DT B-NP +demand NN I-NP +that WDT B-NP +helped VBD B-VP +firm NN I-VP +prices NNS B-NP +, , O +the DT B-NP +analyst NN I-NP +said VBD B-VP +. . O + +Another DT B-NP +analyst NN I-NP +noted VBD B-VP +that IN B-SBAR +Cuba NNP B-NP +has VBZ B-VP +been VBN I-VP +deferring VBG I-VP +shipments NNS B-NP +in IN B-PP +recent JJ B-NP +years NNS I-NP +. . O + +`` `` O +To TO B-PP +the DT B-NP +professionals NNS I-NP +in IN B-PP +the DT B-NP +trade NN I-NP +it PRP B-NP +did VBD B-VP +n't RB I-VP +cause VB I-VP +much JJ B-NP +surprise NN I-NP +. . O + +The DT B-NP +March NNP I-NP +futures NNS I-NP +contract VBP I-NP +traded VBN B-VP +as RB B-ADVP +high JJ I-ADVP +as IN B-PP +14.24 CD B-NP +cents NNS I-NP +, , O +but CC O +could MD B-VP +n't RB I-VP +sustain VB I-VP +the DT B-NP +advance NN I-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +LIVESTOCK NNP B-NP +AND CC I-NP +MEATS NNPS I-NP +: : O + +The DT B-NP +prices NNS I-NP +of IN B-PP +cattle NNS B-NP +, , I-NP +hogs NNS I-NP +and CC I-NP +pork NN I-NP +belly NN I-NP +futures NNS I-NP +contracts NNS I-NP +rebounded VBD B-VP +as IN B-SBAR +livestock NN B-NP +traders NNS I-NP +shook VBD B-VP +off IN B-PRT +fears NNS B-NP +that IN B-SBAR +the DT B-NP +Friday NNP I-NP +stock NN I-NP +market NN I-NP +plunge NN I-NP +would MD B-VP +chill VB I-VP +consumer NN B-NP +spending NN I-NP +, , O +which WDT B-NP +in IN B-PP +turn NN B-NP +would MD B-VP +hurt VB I-VP +retail JJ B-NP +sales NNS I-NP +of IN B-PP +beef NN B-NP +and CC I-NP +pork NN I-NP +. . O + +The DT B-NP +prices NNS I-NP +of IN B-PP +most RBS B-NP +livestock NN I-NP +futures NNS I-NP +contracts NNS I-NP +had VBD B-VP +dropped VBN I-VP +sharply RB B-ADVP +Monday NNP B-NP +. . O + +Cattle NNS B-NP +futures NNS I-NP +prices NNS I-NP +were VBD B-VP +also RB I-VP +supported VBN I-VP +yesterday NN B-NP +by IN B-PP +signs VBZ B-NP +that IN B-SBAR +supermarket NN B-NP +chains NNS I-NP +are VBP B-VP +making VBG I-VP +plans NNS B-NP +to TO B-VP +increase VB I-VP +their PRP$ B-NP +promotions NNS I-NP +concerning VBG B-VP +beef NN B-NP +. . O + +GRAINS NNS B-NP +AND CC I-NP +SOYBEANS NNS I-NP +: : O + +The DT B-NP +prices NNS I-NP +of IN B-PP +most RBS B-NP +soybean NN I-NP +and CC I-NP +soybean-meal NN I-NP +futures NNS I-NP +contracts NNS I-NP +rose VBD B-VP +amid IN B-PP +rumors NNS B-NP +that IN B-SBAR +the DT B-NP +Soviet NNP I-NP +Union NNP I-NP +is VBZ B-VP +interested JJ I-VP +in IN B-PP +buying VBG B-VP +from IN B-PP +the DT B-NP +U.S. NNP I-NP +or CC O +South NNP B-NP +America NNP I-NP +about IN B-NP +250,000 CD I-NP +metric JJ I-NP +tons NNS I-NP +of IN B-PP +soybeans NNS B-NP +and CC O +as RB B-NP +many JJ I-NP +as IN I-NP +400,000 CD I-NP +metric JJ I-NP +tons NNS I-NP +of IN B-PP +soybean NN B-NP +meal NN I-NP +. . O + +Traders NNS B-NP +are VBP B-VP +especially RB B-ADJP +sensitive JJ I-ADJP +to TO B-PP +reports NNS B-NP +of IN B-PP +possible JJ B-NP +U.S. NNP I-NP +soybean NN I-NP +sales NNS I-NP +because IN B-SBAR +U.S. NNP B-NP +exports NNS I-NP +are VBP B-VP +lagging VBG I-VP +. . O + +Since IN B-PP +Sept. NNP B-NP +1 CD I-NP +, , O +about IN B-NP +13 CD I-NP +million CD I-NP +fewer JJR I-NP +bushels NNS I-NP +of IN B-PP +U.S. NNP B-NP +soybeans NNS I-NP +have VBP B-VP +been VBN I-VP +sold VBN I-VP +overseas JJ B-ADVP +than IN B-PP +for IN B-PP +the DT B-NP +same JJ I-NP +period NN I-NP +last JJ B-NP +year NN I-NP +. . O + +Corn NN B-NP +futures NNS I-NP +prices NNS I-NP +rose VBD B-VP +slightly RB B-ADVP +while IN B-SBAR +wheat NN B-NP +prices NNS I-NP +settled VBD B-VP +mixed VBN B-ADJP +. . O + +Moody NNP B-NP +'s POS B-NP +Investors NNP I-NP +Service NNP I-NP +Inc. NNP I-NP +, , O +fretting VBG B-VP +about IN B-PP +increasing VBG B-NP +competitive JJ I-NP +pressure NN I-NP +on IN B-PP +Ryder NNP B-NP +, , O +placed VBD B-VP +about RB B-NP +$ $ I-NP +2.8 CD I-NP +billion CD I-NP +in IN B-PP +company NN B-NP +securities NNS I-NP +under IN B-PP +review NN B-NP +for IN B-PP +possible JJ B-NP +downgrade NN I-NP +. . O + +Ratings NNS B-NP +under IN B-PP +review NN B-NP +are VBP B-VP +Ryder NNP B-NP +'s POS B-NP +A-1 JJ I-NP +collateral NN I-NP +trust NN I-NP +debentures NNS I-NP +, , O +A-2 NN B-NP +senior JJ I-NP +notes NNS I-NP +and CC I-NP +bonds NNS I-NP +, , O +A-2 NN B-NP +preferred JJ I-NP +stock NN I-NP +and CC O +the DT B-NP +company NN I-NP +'s POS B-NP +Prime-1 JJ I-NP +rating NN I-NP +for IN B-PP +commercial JJ B-NP +paper NN I-NP +. . O + +Moody NNP B-NP +'s POS B-NP +said VBD B-VP +it PRP B-NP +is VBZ B-VP +assessing VBG I-VP +the DT B-NP +strategies NNS I-NP +Ryder NNP B-NP +'s POS B-NP +management NN I-NP +may MD B-VP +follow VB I-VP +in IN B-PP +addressing VBG B-VP +significant JJ B-NP +challenges NNS I-NP +in IN B-PP +some DT B-NP +major JJ I-NP +markets NNS I-NP +. . O + +The DT B-NP +rating NN I-NP +agency NN I-NP +said VBD B-VP +it PRP B-NP +is VBZ B-VP +focusing VBG I-VP +especially RB B-ADVP +on IN B-PP +the DT B-NP +transportation NN I-NP +service NN I-NP +company NN I-NP +'s POS B-NP +efforts NNS I-NP +to TO B-VP +control VB I-VP +costs NNS B-NP +, , O +improve VB B-VP +margins NNS B-NP +and CC O +enhance VB B-VP +its PRP$ B-NP +competitive JJ I-NP +position NN I-NP +in IN B-PP +its PRP$ B-NP +primary JJ I-NP +business NN I-NP +, , O +vehicle NN B-NP +leasing NN I-NP +and CC I-NP +rental JJ I-NP +. . O + +The DT B-NP +nations NNS I-NP +of IN B-PP +southern JJ B-NP +Africa NNP I-NP +know VB B-VP +a DT B-NP +lot NN I-NP +about IN B-PP +managing VBG B-VP +elephants NNS B-NP +; : O +their PRP$ B-NP +herds NNS I-NP +are VBP B-VP +thriving VBG I-VP +. . O + +But CC O +the DT B-NP +nations NNS I-NP +of IN B-PP +Europe NNP B-NP +and CC O +North NNP B-NP +America NNP I-NP +have VBP B-VP +decided VBN I-VP +they PRP B-NP +know VBP B-VP +better JJR B-ADVP +. . O + +At IN B-PP +this DT B-NP +week NN I-NP +'s POS B-NP +U.N. NNP I-NP +conference NN I-NP +in IN B-PP +Lausanne NNP B-NP +, , O +they PRP B-NP +imposed VBD B-VP +a DT B-NP +global JJ I-NP +ivory NN I-NP +ban NN I-NP +that WDT B-NP +seeks VBZ B-VP +to TO I-VP +overturn VB I-VP +local JJ B-NP +policies NNS I-NP +. . O + +A DT B-NP +Zimbabwean NNP I-NP +delegate NN I-NP +argued VBD B-VP +that IN B-SBAR +the DT B-NP +ban NN I-NP +would MD B-VP +`` `` O +guarantee VB B-VP +the DT B-NP +extinction NN I-NP +of IN B-PP +the DT B-NP +elephant NN I-NP +. . O +'' '' O + +Legitimate JJ B-NP +ranchers NNS I-NP +, , O +who WP B-NP +have VBP B-VP +an DT B-NP +interest NN I-NP +in IN B-PP +preserving VBG B-VP +the DT B-NP +herds NNS I-NP +, , O +would MD B-VP +go VB I-VP +out IN B-ADVP +of IN B-PP +business NN B-NP +. . O + +Poachers NNS B-NP +would MD B-VP +control VB I-VP +the DT B-NP +underground JJ I-NP +trade NN I-NP +. . O + +Many JJ B-NP +delegates NNS I-NP +were VBD B-VP +willing JJ B-ADJP +to TO B-VP +craft VB I-VP +a DT B-NP +compromise NN I-NP +, , O +but CC O +U.S. NNP B-NP +delegate NN I-NP +Constance NNP I-NP +Harriman NNP I-NP +and CC O +others NNS B-NP +thundered VBD B-VP +that DT B-NP +down RB B-ADVP +. . O + +The DT B-NP +Greens NNPS I-NP +from IN B-PP +the DT B-NP +First NNP I-NP +World NNP I-NP +wanted VBD B-VP +a DT B-NP +morality NN I-NP +play NN I-NP +, , B-NP +not RB I-NP +a DT B-NP +negotiation NN I-NP +. . O + +Fortunately RB B-ADVP +, , O +the DT B-NP +nations NNS I-NP +of IN B-PP +southern JJ B-NP +Africa NNP I-NP +have VBP B-VP +n't RB I-VP +totally RB I-VP +surrendered VBD I-VP +their PRP$ B-NP +sovereignty NN I-NP +. . O + +Five CD B-NP +countries NNS I-NP +announced VBD B-VP +they PRP B-NP +would MD B-VP +not RB I-VP +honor VB I-VP +what WP B-NP +one CD B-NP +Zimbabwean NNP I-NP +delegate NN I-NP +wryly RB B-ADVP +called VBD B-VP +the DT O +`` `` O +made VBN B-VP +in IN B-PP +Switzerland NNP B-NP +'' '' B-NP +solution NN I-NP +. . O + +In IN B-PP +fact NN B-NP +, , O +they PRP B-NP +seemed VBD B-VP +a DT B-NP +mite NN I-NP +resentful JJ B-ADJP +. . O + +The DT B-NP +director NN I-NP +of IN B-PP +Zimbabwe NNP B-NP +'s POS B-NP +Wildlife NNP I-NP +Department NNP I-NP +described VBD B-VP +American JJ B-NP +conservationists NNS I-NP +as IN B-PP +`` `` O +fat JJ B-NP +little JJ I-NP +puppies NNS I-NP +from IN B-PP +urban JJ B-NP +environments NNS I-NP +who WP B-NP +do VBP B-VP +n't RB I-VP +know VB I-VP +a DT B-NP +thing NN I-NP +about IN B-PP +Africa NNP B-NP +. . O +'' '' O + +That DT B-NP +'s VBZ B-VP +not RB O +fair JJ B-ADJP +; : O +they PRP B-NP +'re VBP B-VP +not RB O +all DT B-ADVP +fat NN B-ADJP +. . O + +HUGO'S NNP B-NP +BLAST NN I-NP +generates VBZ B-VP +pleas NNS B-NP +for IN B-PP +aid NN B-NP +from IN B-PP +South NNP B-NP +Carolina NNP I-NP +small JJ I-NP +businesses NNS I-NP +. . O + +The DT B-NP +Small NNP I-NP +Business NNP I-NP +Administration NNP I-NP +has VBZ B-VP +received VBN I-VP +more JJR B-NP +than IN I-NP +5,000 CD I-NP +formal JJ I-NP +requests NNS I-NP +for IN B-PP +disaster NN B-NP +loans NNS I-NP +because IN B-PP +of IN I-PP +the DT B-NP +hurricane NN I-NP +. . O + +About IN B-NP +45 CD I-NP +% NN I-NP +of IN B-PP +requests NNS B-NP +for IN B-PP +SBA NNP B-NP +relief NN I-NP +loans NNS I-NP +, , O +which WDT B-NP +also RB B-ADVP +are VBP B-VP +available JJ B-ADJP +to TO B-PP +homeowners NNS B-NP +, , O +come VB B-VP +from IN B-PP +small JJ B-NP +businesses NNS I-NP +, , O +compared VBN B-PP +with IN B-PP +a DT B-NP +25 CD I-NP +% NN I-NP +business NN I-NP +share NN I-NP +after IN B-PP +most RBS B-NP +disasters NNS I-NP +. . O + +The DT B-NP +SBA NNP I-NP +expects VBZ B-VP +to TO I-VP +make VB I-VP +about RB B-NP +$ $ I-NP +1 CD I-NP +billion CD I-NP +in IN B-PP +Hurricane NNP B-NP +Hugo NNP I-NP +loans NNS I-NP +. . O + +The DT B-NP +disaster NN I-NP +fund NN I-NP +is VBZ B-VP +replenished VBN I-VP +by IN B-PP +loan NN B-NP +repayments NNS I-NP +. . O + +Hardest RBS B-VP +hit VBN I-VP +by IN B-PP +Hugo NNP B-NP +in IN B-PP +South NNP B-NP +Carolina NNP I-NP +were VBD B-VP +small JJ B-NP +retailers NNS I-NP +tied VBN B-VP +to TO B-PP +the DT B-NP +tourist NN I-NP +industry NN I-NP +and CC O +businesses NNS B-NP +in IN B-PP +agriculture NN B-NP +and CC O +cultivated VBN B-NP +seafood NN I-NP +. . O + +The DT B-NP +State NNP I-NP +Development NNP I-NP +Board NNP I-NP +set VBD B-VP +up IN B-PRT +a DT B-NP +Hugo NNP I-NP +Hotline NNP I-NP +to TO B-VP +accept VB I-VP +business-to-business JJ B-NP +help NN I-NP +. . O + +After IN B-SBAR +NBC NNP B-NP +weather NN I-NP +man NN I-NP +Willard NNP I-NP +Scott NNP I-NP +broadcast NN B-VP +the DT B-NP +hot-line NN I-NP +number NN I-NP +, , O +it PRP B-NP +was VBD B-VP +flooded VBN I-VP +with IN B-PP +10,000 CD B-NP +calls VBZ I-NP +. . O + +Last JJ B-NP +week NN I-NP +, , O +the DT B-NP +U.S. NNP I-NP +Chamber NNP I-NP +of IN B-PP +Commerce NNP B-NP +began VBD B-VP +using VBG I-VP +its PRP$ B-NP +national JJ I-NP +TV NN I-NP +show NN I-NP +to TO B-VP +seek VB I-VP +help NN B-NP +, , O +such JJ B-PP +as IN I-PP +equipment NN B-NP +, , O +for IN B-PP +business NN B-NP +owners NNS I-NP +. . O + +Local JJ B-NP +bankers NNS I-NP +and CC I-NP +accountants NNS I-NP +help VBP B-VP +applicants NNS B-NP +fill VBP B-VP +out IN B-PRT +forms NNS B-NP +. . O + +`` `` O +It PRP B-NP +helps VBZ B-VP +us PRP B-NP +, , O +and CC O +people NNS B-NP +feel VBP B-VP +better JJR I-VP +talking VBG I-VP +to TO B-PP +someone NN B-NP +who WP B-NP +'s VBZ B-VP +gone VBN I-VP +through IN B-PP +the DT B-NP +same JJ I-NP +thing NN I-NP +, , O +'' '' O +an DT B-NP +SBA NNP I-NP +official NN I-NP +says NNS B-VP +. . O + +HEALTH NN B-NP +BENEFITS NNS I-NP +remain VBP B-VP +a DT B-NP +central JJ I-NP +lobbying NN I-NP +effort NN I-NP +, , O +even RB B-ADVP +as IN B-SBAR +Section NN B-NP +89 CD I-NP +fades NNS B-VP +. . O + +The DT B-NP +Senate NNP I-NP +, , O +after IN B-PP +deleting VBG B-VP +Section NN B-NP +89 CD I-NP +repeal NN I-NP +from IN B-PP +its PRP$ B-NP +deficit-reduction NN I-NP +bill NN I-NP +, , O +still RB B-ADVP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +join VB I-VP +the DT B-NP +House NNP I-NP +in IN B-PP +voting NN B-VP +to TO I-VP +kill VB I-VP +the DT B-NP +law NN I-NP +, , O +which WDT B-NP +forces VBZ B-VP +companies NNS B-NP +to TO B-VP +provide VB I-VP +comparable JJ B-NP +benefits NNS I-NP +to TO B-PP +laborers NNS B-NP +and CC I-NP +executives NNS I-NP +alike RB B-ADVP +. . O + +In IN B-PP +lobbying VBG B-VP +on IN B-PP +other JJ B-NP +health-coverage NN I-NP +topics NNS I-NP +, , O +the DT B-NP +National NNP I-NP +Federation NNP I-NP +of IN B-PP +Independent NNP B-NP +Business NNP I-NP +will MD B-VP +press VB I-VP +for IN B-PP +legislation NN B-NP +that WDT B-NP +would MD B-VP +give VB I-VP +self-employed JJ B-NP +people NNS I-NP +a DT B-NP +100 CD I-NP +% NN I-NP +tax NN I-NP +deduction NN I-NP +for IN B-PP +their PRP$ B-NP +own JJ I-NP +health NN I-NP +plans NNS I-NP +, , O +up IN B-ADVP +from IN B-PP +25 CD B-NP +% NN I-NP +currently RB B-ADVP +. . O + +And CC O +the DT B-NP +group NN I-NP +will MD B-VP +urge VB I-VP +that IN B-SBAR +the DT B-NP +federal JJ I-NP +government NN I-NP +pre-empt VB B-VP +state NN B-NP +rules NNS I-NP +on IN B-PP +what WP B-NP +must MD B-VP +be VB I-VP +covered VBN I-VP +by IN B-PP +employers NNS B-NP +' POS B-NP +health NN I-NP +insurance NN I-NP +. . O + +Small-business NN B-NP +groups NNS I-NP +also RB B-ADVP +will MD B-VP +fight VB I-VP +the DT B-NP +medical-leave JJ I-NP +provision NN I-NP +of IN B-PP +legislation NN B-NP +that WDT B-NP +would MD B-VP +expand VB I-VP +parental JJ B-NP +leaves NNS I-NP +. . O + +And CC O +they PRP B-NP +still RB B-ADVP +oppose VBP B-VP +as IN B-PP +too RB B-ADJP +costly JJ I-ADJP +an DT B-NP +employer-paid JJ I-NP +health NN I-NP +insurance NN I-NP +bill NN I-NP +sponsored VBN B-VP +by IN B-PP +Sen. NNP B-NP +Edward NNP I-NP +Kennedy NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Mass NNP B-NP +. . O +-RRB- ) O +despite IN B-PP +his PRP$ B-NP +proposal NN I-NP +to TO B-VP +phase VB I-VP +in IN B-PRT +small JJ B-NP +business NN I-NP +only RB B-ADVP +gradually RB I-ADVP +. . O + +There EX B-NP +is VBZ B-VP +also RB B-ADVP +worry VB B-NP +that IN B-SBAR +the DT B-NP +Pepper NNP I-NP +Commission NNP I-NP +studying VBG B-VP +long-term JJ B-NP +health NN I-NP +care NN I-NP +will MD B-VP +again RB I-VP +push VB I-VP +lawmakers NNS B-NP +toward IN B-PP +employerpaid JJ B-NP +solutions NNS I-NP +. . O + +The DT B-NP +Section NN I-NP +89 CD I-NP +victory NN I-NP +could MD B-VP +have VB I-VP +a DT B-NP +downside NN I-NP +by IN B-PP +making VBG B-VP +it PRP B-NP +harder JJR B-ADJP +to TO B-VP +oppose VB I-VP +lawmakers NNS B-NP +on IN B-PP +other JJ B-NP +health NN I-NP +proposals NNS I-NP +. . O + +`` `` O +With IN B-PP +the DT B-NP +repeal NN I-NP +of IN B-PP +Section NN B-NP +89 CD I-NP +, , O +we PRP B-NP +can MD B-VP +no RB I-VP +longer RB I-VP +say VB I-VP +they PRP B-NP +'re VBP B-VP +discouraging VBG I-VP +businesses NNS B-NP +from IN B-PP +offering NN B-VP +health NN B-NP +plans NNS I-NP +, , O +'' '' O +says VBZ B-VP +Christine NNP B-NP +Russell NNP I-NP +, , O +the DT B-NP +Chamber NNP I-NP +of IN B-PP +Commerce NNP B-NP +'s POS B-NP +small-business NN I-NP +advocate NN I-NP +. . O + +JUMPING NNP B-VP +THE DT B-NP +GUN NNP I-NP +: : O + +Sen. NNP B-NP +Lloyd NNP I-NP +Bentsen NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Texas NNP B-NP +-RRB- ) O +was VBD B-VP +outraged VBN B-ADJP +after IN B-SBAR +a DT B-NP +private JJ I-NP +word NN I-NP +to TO B-PP +John NNP B-NP +Motley NNP I-NP +, , O +lobbyist NN B-NP +for IN B-PP +the DT B-NP +National NNP I-NP +Federation NNP I-NP +of IN B-PP +Independent NNP B-NP +Business NNP I-NP +, , O +resulted VBD B-VP +in IN B-PP +a DT B-NP +news NN I-NP +release NN I-NP +saying VBG B-VP +that IN B-SBAR +the DT B-NP +Senate NNP I-NP +Finance NNP I-NP +Committee NNP I-NP +chairman NN I-NP +would MD B-VP +recommend VB I-VP +repeal NN B-NP +of IN B-PP +Section NN B-NP +89 CD I-NP +. . O + +Even RB B-ADVP +though IN B-SBAR +the DT B-NP +announcement NN I-NP +was VBD B-VP +true JJ B-ADJP +in IN B-PP +the DT B-NP +end NN I-NP +, , O +it PRP B-NP +was VBD B-VP +issued VBN I-VP +without IN B-PP +the DT B-NP +senator NN I-NP +'s POS B-NP +permission NN I-NP +. . O + +`` `` O +I PRP B-NP +blew VBD B-VP +it PRP B-NP +, , O +'' '' O +Mr. NNP B-NP +Motley NNP I-NP +says VBZ B-VP +apologetically RB B-ADVP +. . O + +`` `` O +It PRP B-NP +was VBD B-VP +a DT B-NP +timing NN I-NP +mistake NN I-NP +. . O +'' '' O + +PRISON-SHOP NNP B-NP +BLUES NNPS I-NP +: : O + +Sen. NNP B-NP +Strom NNP I-NP +Thurmond NNP I-NP +-LRB- ( O +R. NNP B-NP +, , O +S.C NNP B-NP +. . O +-RRB- ) O +protests NNS B-VP +pending VBG B-NP +legislation NN I-NP +to TO B-VP +end VB I-VP +the DT B-NP +preference NN I-NP +that IN B-NP +the DT B-NP +federal JJ I-NP +prison NN I-NP +system NN I-NP +gets VBZ B-VP +in IN B-PP +selling VBG B-VP +prisoner-made JJ B-NP +furniture NN I-NP +and CC O +other JJ B-NP +goods NNS I-NP +to TO B-PP +government NN B-NP +agencies NNS I-NP +. . O + +Small-business NN B-NP +suppliers NNS I-NP +want VBP B-VP +prisons NNS B-NP +to TO B-VP +stop VB I-VP +getting VBG I-VP +high JJ B-NP +priority NN I-NP +, , O +especially RB B-ADVP +as IN B-SBAR +prison NN B-NP +production NN I-NP +grows VBZ B-VP +with IN B-PP +swelling VBG B-NP +inmate NN I-NP +populations NNS I-NP +. . O + +Last JJ B-NP +year NN I-NP +, , O +the DT B-NP +prisons NNS I-NP +' POS B-NP +sales NNS I-NP +to TO B-PP +the DT B-NP +Pentagon NNP I-NP +totaled VBD B-VP +$ $ B-NP +336 CD I-NP +million CD I-NP +. . O + +REPAIR NN B-NP +SHOPS NNS I-NP +SCRAP VBP B-VP +for IN B-PP +more JJR B-NP +access NN I-NP +to TO B-PP +work VB B-NP +on IN B-PP +auto-emissions NNS B-NP +systems NNS I-NP +. . O + +Groups NNS B-NP +representing VBG B-VP +some DT B-NP +independent JJ I-NP +auto-repair JJ I-NP +shops NNS I-NP +join VBP B-VP +a DT B-NP +compromise NN I-NP +on IN B-PP +the DT B-NP +Clean NNP I-NP +Air NNP I-NP +legislation NN I-NP +worked VBD B-VP +out RP B-PRT +between IN B-PP +environmentalists NNS B-NP +and CC O +Rep. NNP B-NP +Henry NNP I-NP +Waxman NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Calif NNP B-NP +. . O +-RRB- ) O +. . O + +The DT B-NP +plan NN I-NP +would MD B-VP +increase VB I-VP +the DT B-NP +warranty NN I-NP +on IN B-PP +auto-emission NN B-NP +systems NNS I-NP +to TO B-PP +eight CD B-NP +years NNS I-NP +or CC O +80,000 CD B-NP +miles NNS I-NP +from IN B-PP +five CD B-NP +years NNS I-NP +or CC O +50,000 CD B-NP +for IN B-PP +major JJ B-NP +parts NNS I-NP +. . O + +But CC O +the DT B-NP +warranty NN I-NP +on IN B-PP +simpler JJR B-NP +parts NNS I-NP +would MD B-VP +be VB I-VP +lowered VBN I-VP +to TO B-PP +two CD B-NP +years NNS I-NP +or CC O +24,000 CD B-NP +miles NNS I-NP +. . O + +The DT B-NP +garage NN I-NP +owners NNS I-NP +say VBP B-VP +they PRP B-NP +would MD B-VP +benefit VB I-VP +because IN B-SBAR +car NN B-NP +owners NNS I-NP +would MD B-VP +be VB I-VP +less RBR B-ADJP +likely JJ I-ADJP +to TO B-VP +go VB I-VP +back RB B-ADVP +to TO B-PP +dealers NNS B-NP +for IN B-PP +the DT B-NP +simpler JJR I-NP +repairs NNS I-NP +after IN B-PP +two CD B-NP +years NNS I-NP +. . O + +The DT B-NP +repair NN I-NP +shops NNS I-NP +are VBP B-VP +n't RB I-VP +united VBN I-VP +, , O +however RB B-ADVP +. . O + +Shops NNS B-NP +represented VBN B-VP +by IN B-PP +the DT B-NP +Automotive NNP I-NP +Service NNP I-NP +Industry NNP I-NP +Association NNP I-NP +and CC O +the DT B-NP +Motor NNP I-NP +Equipment NNP I-NP +Manufacturers NNP I-NP +Association NNP I-NP +oppose VB B-VP +any DT B-NP +increase NN I-NP +in IN B-PP +warranty NN B-NP +length NN I-NP +. . O + +They PRP B-NP +say VBP B-VP +the DT O +longer RB O +the DT B-NP +warranty NN I-NP +, , O +the DT O +longer RB O +customers NNS B-NP +will MD B-VP +automatically RB I-VP +return VB I-VP +to TO B-PP +new-car NN B-NP +dealers NNS I-NP +, , O +which WDT B-NP +then RB B-ADVP +find VB B-VP +non-warranty NN B-NP +work NN I-NP +that WDT B-NP +might MD B-VP +otherwise RB I-VP +go VB I-VP +to TO B-PP +repair VB B-NP +shops NNS I-NP +. . O + +The DT B-NP +House NNP I-NP +Energy NNP I-NP +Committee NNP I-NP +will MD B-VP +debate VB I-VP +the DT B-NP +issue NN I-NP +later RB B-NP +this DT I-NP +month NN I-NP +. . O + +Stan NNP B-NP +Hathcock NNP I-NP +, , O +an DT B-NP +Atlanta NNP I-NP +garage NN I-NP +owner NN I-NP +who WP B-NP +opposes VBZ B-VP +a DT B-NP +longer RB I-NP +warranty NN I-NP +, , O +estimates VBZ B-VP +that IN B-SBAR +the DT B-NP +current JJ I-NP +plan NN I-NP +costs NNS B-VP +him PRP B-NP +as RB B-NP +much JJ I-NP +as IN I-NP +$ $ I-NP +15,000 CD I-NP +a DT B-NP +year NN I-NP +in IN B-PP +lost VBN B-NP +business NN I-NP +. . O + +SMALL NNP B-NP +TALK NNP I-NP +: : O + +Some DT B-NP +70 CD I-NP +% NN I-NP +of IN B-PP +graduates NNS B-NP +who WP B-NP +recently RB B-ADVP +earned VBD B-VP +an DT B-NP +M.B.A. NNP I-NP +degree NN I-NP +say VBP B-VP +they PRP B-NP +'d MD B-VP +prefer VB I-VP +to TO I-VP +work VB I-VP +in IN B-PP +or CC O +own VB B-VP +a DT B-NP +small JJ I-NP +company NN I-NP +, , O +yet RB O +most RBS B-NP +take VB B-VP +jobs NNS B-NP +with IN B-PP +large JJ B-NP +concerns NNS I-NP +, , O +says VBZ B-VP +a DT B-NP +survey NN I-NP +by IN B-PP +the DT B-NP +Foster NNP I-NP +McKay NNP I-NP +Group NNP I-NP +, , O +a DT B-NP +New NNP I-NP +York NNP I-NP +recruiting VBG I-NP +firm NN I-NP +... : O +. . O + +Cardinal NNP B-NP +Scientific NNP I-NP +Inc. NNP I-NP +of IN B-PP +Waldorf NNP B-NP +, , O +Md. NNP B-NP +, , O +seeks VBZ B-VP +a DT B-NP +Small NNP I-NP +Business NNP I-NP +Innovation NNP I-NP +Research NNP I-NP +grant NN I-NP +to TO B-VP +produce VB I-VP +a DT B-NP +`` `` I-NP +nozzle NN I-NP +assembly NN I-NP +for IN B-PP +an DT B-NP +Army NNP I-NP +mass NN I-NP +delousing VBG I-NP +outfit NN I-NP +. . O + +Banc NNP B-NP +One CD I-NP +Corp. NNP I-NP +said VBD B-VP +Frank NNP B-NP +E. NNP I-NP +McKinney NNP I-NP +plans VBZ B-VP +to TO I-VP +retire VB I-VP +as IN B-PP +the DT B-NP +bank NN I-NP +holding VBG I-NP +company NN I-NP +'s POS B-NP +president NN I-NP +effective JJ B-PP +Jan. NNP B-NP +12 CD I-NP +. . O + +Banc NNP B-NP +One CD I-NP +said VBD B-VP +`` `` O +it PRP B-NP +is VBZ B-VP +contemplated VBN I-VP +'' '' O +that IN B-SBAR +John NNP B-NP +B. NNP I-NP +McCoy NNP I-NP +, , O +chairman NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +, , O +will MD B-VP +assume VB I-VP +the DT B-NP +additional JJ I-NP +position NN I-NP +of IN B-PP +president NN B-NP +upon IN B-PP +Mr. NNP B-NP +McKinney NNP I-NP +'s POS B-NP +retirement NN I-NP +. . O + +Mr. NNP B-NP +McKinney NNP I-NP +, , O +50 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +was VBD B-VP +chairman NN B-NP +and CC O +chief JJ B-NP +executive NN I-NP +of IN B-PP +American NNP B-NP +Fletcher NNP I-NP +Corp. NNP I-NP +, , O +Indianapolis NNP B-NP +, , O +when WRB B-ADVP +that DT B-NP +bank NN I-NP +holding VBG I-NP +company NN I-NP +merged VBN B-VP +into IN B-PP +Banc NNP B-NP +One CD I-NP +in IN B-PP +January NNP B-NP +1987 CD I-NP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +Mr. NNP B-NP +McKinney NNP I-NP +plans VBZ B-VP +to TO I-VP +retire VB I-VP +because IN B-SBAR +the DT B-NP +process NN I-NP +of IN B-PP +affiliating VBG B-VP +American NNP B-NP +Fletcher NNP I-NP +into IN B-PP +Banc NNP B-NP +One CD I-NP +`` `` O +is VBZ B-VP +considered VBN I-VP +completed VBN B-ADJP +. . O +'' '' O + +Mr. NNP B-NP +McKinney NNP I-NP +will MD B-VP +continue VB I-VP +as IN B-PP +chairman NN B-NP +of IN B-PP +the DT B-NP +board NN I-NP +and CC O +chairman NN B-NP +of IN B-PP +the DT B-NP +executive JJ I-NP +committee NN I-NP +of IN B-PP +Banc NNP B-NP +One CD I-NP +Indiana NNP I-NP +Corp. NNP I-NP +, , O +the DT B-NP +successor NN I-NP +company NN I-NP +to TO B-PP +American NNP B-NP +Fletcher NNP I-NP +Corp. NNP I-NP +, , O +but CC O +will MD B-VP +no RB I-VP +longer RB I-VP +be VB I-VP +active JJ B-ADJP +in IN B-PP +day-to-day JJ B-NP +management NN I-NP +. . O + +He PRP B-NP +will MD B-VP +remain VB I-VP +on IN B-PP +the DT B-NP +Banc NNP I-NP +One CD I-NP +board NN I-NP +. . O + +The DT B-NP +Treasury NNP I-NP +plans VBZ B-VP +to TO I-VP +raise VB I-VP +$ $ B-NP +1.55 CD I-NP +billion CD I-NP +in IN B-PP +new JJ B-NP +cash NN I-NP +with IN B-PP +the DT B-NP +sale NN I-NP +Monday NNP B-NP +of IN B-PP +about RB B-NP +$ $ I-NP +15.6 CD I-NP +billion CD I-NP +in IN B-PP +short-term JJ B-NP +bills NNS I-NP +to TO B-VP +redeem VB I-VP +$ $ B-NP +14.1 CD I-NP +billion CD I-NP +in IN B-PP +maturing VBG B-NP +bills NNS I-NP +. . O + +The DT B-NP +offering NN I-NP +will MD B-VP +be VB I-VP +divided VBN I-VP +evenly RB B-ADVP +between IN B-PP +13-week JJ B-NP +and CC I-NP +26-week JJ I-NP +bills NNS I-NP +maturing VBG B-VP +on IN B-PP +Jan. NNP B-NP +25 CD I-NP +, , I-NP +1990 CD I-NP +, , O +and CC O +April NNP B-NP +26 CD I-NP +, , I-NP +1990 CD I-NP +, , O +respectively RB B-ADVP +. . O + +Tenders NNS B-NP +for IN B-PP +the DT B-NP +bills NNS I-NP +, , O +available JJ B-ADJP +in IN B-PP +minimum JJ B-NP +$ $ I-NP +10,000 CD I-NP +denominations NNS I-NP +, , O +must MD B-VP +be VB I-VP +received VBN I-VP +by IN B-PP +1 CD B-NP +p.m. NN I-NP +EDT NNP I-NP +Monday NNP I-NP +at IN B-PP +the DT B-NP +Treasury NNP I-NP +or CC B-PP +at IN B-PP +Federal NNP B-NP +Reserve NNP I-NP +banks NNS I-NP +or CC I-NP +branches NNS I-NP +. . O + +Moody NNP B-NP +'s POS B-NP +Investors NNP I-NP +Service NNP I-NP +Inc. NNP I-NP +said VBD B-VP +it PRP B-NP +lowered VBD B-VP +ratings NNS B-NP +on IN B-PP +about RB B-NP +$ $ I-NP +650 CD I-NP +million CD I-NP +of IN B-PP +Beatrice NNP B-NP +Co. NNP I-NP +debt NN I-NP +, , O +citing VBG B-VP +the DT B-NP +closely RB I-NP +held VBN I-NP +Chicago NNP I-NP +food NN I-NP +concern NN I-NP +'s POS B-NP +proposed VBN I-NP +recapitalization NN I-NP +. . O + +The DT B-NP +ratings NNS I-NP +concern VBP I-NP +said VBD B-VP +it PRP B-NP +downgraded VBD B-VP +Beatrice NNP B-NP +notes NNS I-NP +, , O +Euronotes NNS B-NP +and CC O +certain JJ B-NP +industrial JJ I-NP +revenue NN I-NP +bonds NNS I-NP +to TO B-PP +single-B-1 JJ B-NP +from IN B-PP +Ba-3 JJ B-NP +and CC O +the DT B-NP +company NN I-NP +'s POS B-NP +subordinated VBN I-NP +debentures NNS I-NP +to TO B-PP +single-B-3 NNP B-NP +from IN B-PP +single-B-2 NN B-NP +. . O + +Moody NNP B-NP +'s POS B-NP +said VBD B-VP +the DT B-NP +proposed VBN I-NP +recaptilization NN I-NP +may MD B-VP +`` `` O +limit VB B-VP +the DT B-NP +company NN I-NP +'s POS B-NP +ability NN I-NP +to TO B-VP +realize VB I-VP +its PRP$ B-NP +profit NN I-NP +potential JJ I-NP +'' '' O +and CC O +that IN B-SBAR +paying VBG B-VP +dividends NNS B-NP +from IN B-PP +a DT B-NP +new JJ I-NP +series NN I-NP +of IN B-PP +preferred JJ B-NP +could MD B-VP +squeeze VB I-VP +`` `` O +basic JJ B-NP +business NN I-NP +operations NNS I-NP +. . O +'' '' O + +A DT B-NP +Beatrice NNP I-NP +spokesman NN I-NP +did VBD B-VP +n't RB I-VP +return VB I-VP +calls VBZ B-NP +seeking VBG B-VP +comment VB B-NP +. . O + +Beatrice NNP B-NP +, , O +which WDT B-NP +went VBD B-VP +private JJ B-ADJP +in IN B-PP +an DT B-NP +$ $ I-NP +8.2 CD I-NP +billion CD I-NP +leveraged JJ I-NP +buy-out NN I-NP +in IN B-PP +1986 CD B-NP +, , O +said VBD B-VP +last JJ B-NP +month NN I-NP +that IN B-SBAR +it PRP B-NP +might MD B-VP +borrow VB I-VP +again RB B-ADVP +to TO B-VP +help VB I-VP +pay VB I-VP +investors NNS B-NP +as RB B-NP +much JJ I-NP +as IN I-NP +$ $ I-NP +983 CD I-NP +million CD I-NP +in IN B-PP +preferred JJ B-NP +stock NN I-NP +and CC O +debt NN B-NP +securities NNS I-NP +. . O + +When WRB B-ADVP +the DT B-NP +Soviets NNPS I-NP +announced VBD B-VP +their PRP$ B-NP +last JJ I-NP +soldier NN I-NP +had VBD B-VP +left VBN I-VP +Afghanistan NNP B-NP +in IN B-PP +February NNP B-NP +, , O +the DT B-NP +voices NNS I-NP +of IN B-PP +skepticism NN B-NP +were VBD B-VP +all DT I-VP +but CC I-VP +drowned VBN I-VP +out IN B-PRT +by IN B-PP +an DT B-NP +international JJ I-NP +chorus NN I-NP +of IN B-PP +euphoria NN B-NP +. . O + +It PRP B-NP +was VBD B-VP +`` `` O +the DT B-NP +Soviets NNPS I-NP +' '' B-NP +Vietnam NNP I-NP +. . O +'' '' O + +The DT B-NP +Kabul NNP I-NP +regime NN I-NP +would MD B-VP +fall VB I-VP +. . O + +Millions NNS B-NP +of IN B-PP +refugees NNS B-NP +would MD B-VP +rush VB I-VP +home NN B-ADVP +. . O + +A DT B-NP +resistance NN I-NP +government NN I-NP +would MD B-VP +walk VB I-VP +into IN B-PP +Kabul NNP B-NP +. . O + +Those DT B-NP +who WP B-NP +bought VBD B-VP +that DT B-NP +illusion NN I-NP +are VBP B-VP +now RB B-ADVP +bewildered VBN B-ADJP +. . O + +Eight CD B-NP +months NNS I-NP +after IN B-SBAR +Gen. NNP B-NP +Boris NNP I-NP +Gromov NNP I-NP +walked VBD B-VP +across IN B-PP +the DT B-NP +bridge NN I-NP +into IN B-PP +the DT B-NP +U.S.S.R. NNP I-NP +, , O +a DT B-NP +Soviet-controlled JJ I-NP +regime NN I-NP +remains VBZ B-VP +in IN B-PP +Kabul NNP B-NP +, , O +the DT B-NP +refugees NNS I-NP +sit VBP B-VP +in IN B-PP +their PRP$ B-NP +camps NNS I-NP +, , O +and CC O +the DT B-NP +restoration NN I-NP +of IN B-PP +Afghan JJ B-NP +freedom NN I-NP +seems VBZ B-VP +as IN B-ADVP +far RB I-ADVP +off IN I-ADVP +as IN B-PP +ever RB B-ADVP +. . O + +But CC O +there EX B-NP +never RB B-ADVP +was VBD B-VP +a DT B-NP +chance NN I-NP +that IN B-SBAR +the DT B-NP +Afghan JJ I-NP +resistance NN I-NP +would MD B-VP +overthrow VB I-VP +the DT B-NP +Kabul NNP I-NP +regime NN I-NP +quickly RB B-ADVP +and CC I-ADVP +easily RB I-ADVP +. . O + +Soviet JJ B-NP +leaders NNS I-NP +said VBD B-VP +they PRP B-NP +would MD B-VP +support VB I-VP +their PRP$ B-NP +Kabul NNP I-NP +clients NNS I-NP +by IN B-PP +all DT B-NP +means VBZ I-NP +necessary JJ B-ADJP +-- : O +and CC O +did VBD B-VP +. . O + +The DT B-NP +U.S. NNP I-NP +said VBD B-VP +it PRP B-NP +would MD B-VP +fully RB I-VP +support VB I-VP +the DT B-NP +resistance NN I-NP +-- : O +and CC O +did VBD B-VP +n't RB O +. . O + +With IN B-PP +the DT B-NP +February NNP I-NP +1987 CD I-NP +U.N. NNP I-NP +accords NNS I-NP +`` `` O +relating VBG B-VP +to TO B-PP +Afghanistan NNP B-NP +, , O +'' '' O +the DT B-NP +Soviet NNP I-NP +Union NNP I-NP +got VBD B-VP +everything NN B-NP +it PRP B-NP +needed VBD B-VP +to TO B-VP +consolidate VB I-VP +permanent JJ B-NP +control NN I-NP +. . O + +The DT B-NP +terms NNS I-NP +of IN B-PP +the DT B-NP +Geneva NNP I-NP +accords NNS I-NP +leave VBP B-VP +Moscow NNP B-NP +free JJ B-ADJP +to TO B-VP +provide VB I-VP +its PRP$ B-NP +clients NNS I-NP +in IN B-PP +Kabul NNP B-NP +with IN B-PP +assistance NN B-NP +of IN B-PP +any DT B-NP +kind NN I-NP +-- : O +including VBG B-PP +the DT B-NP +return NN I-NP +of IN B-PP +Soviet JJ B-NP +ground NN I-NP +forces NNS I-NP +-- : O +while IN B-SBAR +requiring VBG B-VP +the DT B-NP +U.S. NNP I-NP +and CC O +Pakistan NNP B-NP +to TO B-VP +cut VB I-VP +off IN B-PRT +aid NN B-NP +. . O + +The DT B-NP +only JJ I-NP +fly NN I-NP +in IN B-PP +the DT B-NP +Soviet JJ I-NP +ointment NN I-NP +was VBD B-VP +the DT B-NP +last-minute JJ I-NP +addition NN I-NP +of IN B-PP +a DT B-NP +unilateral JJ I-NP +American JJ I-NP +caveat NN I-NP +, , O +that IN O +U.S. NNP B-NP +aid NN I-NP +to TO B-PP +the DT B-NP +resistance NN I-NP +would MD B-VP +continue VB I-VP +as RB B-ADVP +long RB I-ADVP +as IN B-SBAR +Soviet JJ B-NP +aid NN I-NP +to TO B-PP +Kabul NNP B-NP +did VBD B-VP +. . O + +But CC O +as RB B-ADVP +soon RB I-ADVP +as IN B-SBAR +the DT B-NP +accords NNS I-NP +were VBD B-VP +signed VBN I-VP +, , O +American JJ B-NP +officials NNS I-NP +sharply RB B-VP +reduced VBN I-VP +aid NN B-NP +. . O + +In IN B-PP +February NNP B-NP +1989 CD I-NP +, , O +when WRB B-ADVP +the DT B-NP +Soviets NNPS I-NP +said VBD B-VP +they PRP B-NP +had VBD B-VP +completed VBN I-VP +their PRP$ B-NP +pullout NN I-NP +, , O +the DT B-NP +U.S. NNP I-NP +cut NN B-VP +it PRP B-NP +further JJ B-ADVP +. . O + +Not RB B-ADVP +so RB I-ADVP +the DT B-NP +Soviets NNPS I-NP +. . O + +Gen. NNP B-NP +Gromov NNP I-NP +himself PRP I-NP +said VBD B-VP +Soviet JJ B-NP +troops NNS I-NP +expected VBN B-VP +to TO I-VP +leave VB I-VP +behind IN B-ADVP +more JJR B-NP +than IN I-NP +$ $ I-NP +1 CD I-NP +billion CD I-NP +of IN B-PP +military JJ B-NP +equipment NN I-NP +and CC I-NP +installations NNS I-NP +for IN B-PP +the DT B-NP +Kabul NNP I-NP +regime NN I-NP +. . O + +Since IN B-PP +the DT B-NP +troop NN I-NP +withdrawal NN I-NP +, , O +Moscow NNP B-NP +has VBZ B-VP +poured VBN I-VP +in IN B-PRT +an DT B-NP +additional JJ I-NP +$ $ I-NP +200 CD I-NP +to TO I-NP +$ $ I-NP +300 CD I-NP +million CD I-NP +worth JJ B-NP +per IN B-PP +month NN B-NP +-- : O +nearly RB B-NP +$ $ I-NP +2 CD I-NP +billion CD I-NP +since IN B-PP +February NNP B-NP +, , O +equivalent NN B-ADJP +to TO B-PP +the DT B-NP +total JJ I-NP +U.S. NNP I-NP +aid NN I-NP +to TO B-PP +the DT B-NP +resistance NN I-NP +in IN B-PP +nine CD B-NP +years NNS I-NP +. . O + +This DT B-NP +includes VBZ B-VP +what WP B-NP +Deputy NNP B-NP +Foreign NNP I-NP +Minister NNP I-NP +Yuli NNP I-NP +Vorontsov NNP I-NP +fetchingly RB B-ADVP +called VBD B-VP +`` `` O +new JJ B-NP +peaceful JJ I-NP +long-range JJ I-NP +weapons NNS I-NP +, , O +'' '' O +including VBG B-PP +more JJR B-NP +than IN I-NP +800 CD I-NP +SCUD NNP I-NP +missiles NNS I-NP +. . O + +By IN B-PP +early JJ B-NP +May NNP I-NP +, , O +Moscow NNP B-NP +had VBD B-VP +delivered VBN I-VP +, , O +for IN B-PP +example NN B-NP +, , O +1,000 CD B-NP +trucks NNS I-NP +, , O +about IN B-NP +100 CD I-NP +tanks NNS I-NP +, , O +artillery NN B-NP +and CC O +hundreds NNS B-NP +of IN B-PP +other JJ B-NP +combat NN I-NP +vehicles NNS I-NP +. . O + +Later RB B-NP +that DT I-NP +month NN I-NP +, , O +it PRP B-NP +added VBD B-VP +an DT B-NP +entire JJ I-NP +tank NN I-NP +brigade NN I-NP +, , O +including VBG B-PP +120 CD B-NP +T-72 NN I-NP +tanks NNS I-NP +and CC O +more JJR B-NP +than IN I-NP +40 CD I-NP +BMP NN I-NP +state-of-the-art JJ I-NP +infantry NN I-NP +fighting VBG I-NP +vehicles NNS I-NP +. . O + +By IN B-PP +September NNP B-NP +, , O +a DT B-NP +new JJ I-NP +Reinforced NNP I-NP +Motorized NNP I-NP +Rifle NNP I-NP +Brigade NNP I-NP +with IN B-PP +an DT B-NP +additional JJ I-NP +300 CD I-NP +combat NN I-NP +vehicles NNS I-NP +, , O +1,000 CD B-NP +more JJR I-NP +trucks NNS I-NP +and CC O +10,000 CD B-NP +Soviet-trained JJ I-NP +Afghan JJ I-NP +troops NNS I-NP +had VBD B-VP +arrived VBN I-VP +in IN B-PP +Kandahar NNP B-NP +. . O + +In IN B-PP +the DT B-NP +last JJ I-NP +few JJ I-NP +weeks NNS I-NP +, , O +Moscow NNP B-NP +has VBZ B-VP +added VBN I-VP +FROG-7B NN B-NP +missiles NNS I-NP +, , O +the DT B-NP +bomber NN I-NP +version NN I-NP +of IN B-PP +the DT B-NP +An-12 NN I-NP +, , O +MiG-23BN NN B-NP +high-altitude JJ I-NP +aircraft NN I-NP +, , O +MiG-29s NNS B-NP +, , O +which WDT B-NP +can MD B-VP +outfly VB I-VP +Pakistan NNP B-NP +'s POS B-NP +U.S.-built JJ I-NP +F16s NNS I-NP +, , O +and CC O +Sukhoi NNP B-NP +SU-27 NN I-NP +fighter-bombers NNS I-NP +, , O +which WDT B-NP +can MD B-VP +outfly VB I-VP +the DT B-NP +MiG-29s NNS I-NP +. . O + +Moscow NNP B-NP +claims VBZ B-VP +this DT B-NP +is VBZ B-VP +all DT O +needed VBN B-VP +to TO B-VP +protect VB I-VP +the DT B-NP +Kabul NNP I-NP +regime NN I-NP +against IN B-PP +the DT B-NP +guerrilla NN I-NP +resistance NN I-NP +. . O + +It PRP B-NP +is VBZ B-VP +well-known JJ B-ADJP +that IN B-SBAR +the DT B-NP +regular JJ I-NP +Afghan JJ I-NP +infantry NN I-NP +is VBZ B-VP +filled VBN I-VP +with IN B-PP +reluctant JJ B-NP +conscripts NNS I-NP +. . O + +But CC O +this DT B-NP +is VBZ B-VP +not RB O +the DT B-NP +entire JJ I-NP +Afghan JJ I-NP +army NN I-NP +, , O +and CC O +it PRP B-NP +is VBZ B-VP +no RB B-ADVP +longer RB I-ADVP +Kabul NNP B-NP +'s POS B-NP +only RB I-NP +military JJ I-NP +force NN I-NP +. . O + +Complete JJ B-NP +units NNS I-NP +have VBP B-VP +been VBN I-VP +trained VBN I-VP +and CC I-VP +indoctrinated VBN I-VP +in IN B-PP +the DT B-NP +U.S.S.R. NNP I-NP +and CC O +other JJ B-NP +East NNP I-NP +bloc NN I-NP +nations NNS I-NP +; : O +30,000 CD B-NP +to TO I-NP +40,000 CD I-NP +of IN B-PP +these DT B-NP +troops NNS I-NP +have VBP B-VP +returned VBN I-VP +. . O + +In IN B-PP +addition NN B-NP +, , O +the DT B-NP +regime NN I-NP +has VBZ B-VP +established VBN I-VP +well-paid JJ B-NP +paramilitary JJ I-NP +forces NNS I-NP +totaling VBG B-VP +more JJR B-NP +than IN B-PP +100,000 CD O +, , O +including VBG B-PP +35,000 CD B-NP +Soviet-trained JJ I-NP +troops NNS I-NP +of IN B-PP +the DT B-NP +Interior NNP I-NP +Ministry NNP I-NP +-LRB- ( O +KHAD\/WAD NN B-NP +-RRB- ) O +, , O +which WDT B-NP +still RB B-ADVP +is VBZ B-VP +directed VBN I-VP +by IN B-PP +1,500 CD B-NP +Soviet NNP I-NP +KGB NNP I-NP +officers NNS I-NP +. . O + +Even RB B-ADVP +if IN B-SBAR +not RB B-NP +all PDT I-NP +these DT I-NP +forces NNS I-NP +are VBP B-VP +committed VBN B-ADJP +to TO B-PP +the DT B-NP +regime NN I-NP +, , O +they PRP B-NP +are VBP B-VP +now RB B-ADVP +dependent JJ B-ADJP +on IN B-PP +it PRP B-NP +. . O + +And CC O +thousands NNS B-NP +of IN B-PP +Afghan JJ B-NP +children NNS I-NP +have VBP B-VP +been VBN I-VP +taken VBN I-VP +to TO B-PP +the DT B-NP +Soviet NNP I-NP +Union NNP I-NP +, , O +where WRB B-ADVP +they PRP B-NP +are VBP B-VP +hostage NN B-NP +for IN B-PP +the DT B-NP +behavior NN I-NP +of IN B-PP +their PRP$ B-NP +families NNS I-NP +. . O + +Since IN B-PP +1981 CD B-NP +, , O +Indian NNP B-NP +military JJ I-NP +advisers NNS I-NP +have VBP B-VP +been VBN I-VP +assisting VBG I-VP +the DT B-NP +Kabul NNP I-NP +regime NN I-NP +. . O + +In IN B-PP +preparation NN B-NP +for IN B-PP +the DT B-NP +withdrawal NN I-NP +, , O +Moscow NNP B-NP +, , O +Kabul NNP B-NP +and CC O +New NNP B-NP +Delhi NNP I-NP +signed VBD B-VP +two CD B-NP +agreements NNS I-NP +for IN B-SBAR +several JJ B-NP +hundred CD I-NP +newly RB I-NP +civilian JJ I-NP +Indian NNP I-NP +experts NNS I-NP +to TO B-VP +replace VB I-VP +some DT B-NP +of IN B-PP +the DT B-NP +more RBR I-NP +visible JJ I-NP +Soviet JJ I-NP +military JJ I-NP +personnel NNS I-NP +. . O + +Cuban JJ B-NP +military JJ I-NP +personnel NNS I-NP +also RB B-ADVP +have VBP B-VP +been VBN I-VP +active JJ B-ADJP +in IN B-PP +Afghanistan NNP B-NP +since IN B-PP +1979 CD B-NP +. . O + +The DT B-NP +Soviets NNPS I-NP +cut NN B-VP +a DT B-NP +deal NN I-NP +with IN B-PP +Iran NNP B-NP +: : O +a DT B-NP +future NN I-NP +Iranian JJ I-NP +role NN I-NP +in IN B-PP +Afghanistan NNP B-NP +in IN B-PP +exchange NN B-NP +for IN B-PP +Iranian JJ B-NP +support NN I-NP +of IN B-PP +Soviet JJ B-NP +policy NN I-NP +. . O + +The DT B-NP +deal NN I-NP +was VBD B-VP +symbolized VBN I-VP +by IN B-PP +the DT B-NP +restoration NN I-NP +of IN B-PP +the DT B-NP +Shi'ite NNP I-NP +Sultan NNP I-NP +Ali NNP I-NP +Keshtmand NNP I-NP +to TO B-PP +the DT B-NP +Afghan JJ I-NP +prime JJ I-NP +ministry NN I-NP +. . O + +Moreover RB B-ADVP +, , O +serious JJ B-NP +questions NNS I-NP +have VBP B-VP +been VBN I-VP +raised VBN I-VP +about IN B-PP +the DT B-NP +claimed VBN I-NP +withdrawal NN I-NP +of IN B-PP +Soviet JJ B-NP +forces NNS I-NP +. . O + +Before IN B-PP +his PRP$ B-NP +assassination NN I-NP +in IN B-PP +1988 CD B-NP +, , O +President NNP B-NP +Zia NNP I-NP +of IN B-PP +Pakistan NNP B-NP +repeatedly RB B-ADVP +stated VBD B-VP +that IN B-SBAR +fresh JJ B-NP +Soviet JJ I-NP +troops NNS I-NP +were VBD B-VP +being VBG I-VP +inserted VBN I-VP +into IN B-PP +Afghanistan NNP B-NP +even RB B-ADVP +as IN B-SBAR +others NNS B-NP +were VBD B-VP +ostentatiously RB I-VP +withdrawn VBN I-VP +. . O + +Rep. NNP B-NP +Bill NNP I-NP +McCollum NNP I-NP +-LRB- ( O +R. NNP B-NP +, , O +Fla. NNP B-NP +-RRB- ) O +reports NNS B-VP +that IN B-SBAR +these DT B-NP +included VBD B-VP +20,000 CD B-NP +to TO I-NP +30,000 CD I-NP +Soviet NNP I-NP +Central NNP I-NP +Asian NNP I-NP +KGB NNP I-NP +Border NNP I-NP +Guards NNPS I-NP +, , O +ethnically RB B-ADJP +indistinguishable JJ I-ADJP +from IN B-PP +Afghans NNPS B-NP +and CC O +wearing VBG B-VP +unmarked JJ B-NP +uniforms NNS I-NP +. . O + +Meanwhile RB B-ADVP +, , O +the DT B-NP +Kabul NNP I-NP +regime NN I-NP +is VBZ B-VP +increasingly RB B-ADJP +successful JJ I-ADJP +at IN B-PP +portraying VBG B-VP +the DT B-NP +resistance NN I-NP +as IN B-PP +bloody-minded JJ B-NP +fanatics NNS I-NP +. . O + +In IN B-PP +this DT B-NP +they PRP B-NP +are VBP B-VP +aided VBN I-VP +by IN B-PP +years NNS B-NP +of IN B-PP +American NNP B-NP +, , I-NP +European JJ I-NP +, , I-NP +Pakistani JJ I-NP +and CC I-NP +Saudi NNP I-NP +support NN I-NP +for IN B-PP +the DT B-NP +most RBS I-NP +extreme JJ I-NP +factions NNS I-NP +-- : O +radical JJ B-NP +Islamic NNP I-NP +fanatics NNS I-NP +with IN B-PP +leaders NNS B-NP +whose WP$ B-NP +policies NNS I-NP +are VBP B-VP +anathema NN B-NP +to TO B-PP +the DT B-NP +Afghan JJ I-NP +public NN I-NP +. . O + +This DT B-NP +heavy NN I-NP +outside IN I-NP +support NN I-NP +for IN B-PP +the DT B-NP +worst JJS I-NP +has VBZ B-VP +undermined VBN I-VP +better JJR B-NP +, , I-NP +moderate JJ I-NP +leaders NNS I-NP +. . O + +In IN B-PP +autumn NN B-NP +last JJ B-NP +year NN I-NP +, , O +for IN B-PP +example NN B-NP +, , O +the DT B-NP +regime NN I-NP +garrison NN I-NP +at IN B-PP +Kandahar NNP B-NP +was VBD B-VP +prepared VBN B-ADJP +to TO B-VP +surrender VB I-VP +the DT B-NP +city NN I-NP +to TO B-PP +resistance NN B-NP +moderates NNS I-NP +. . O + +At IN B-PP +the DT B-NP +last JJ I-NP +minute NN I-NP +, , O +however RB B-ADVP +, , O +Pakistani JJ B-NP +officials NNS I-NP +sent VBD B-VP +in IN B-PRT +Gulbuddin NNP B-NP +Hekhmatyar NNP I-NP +, , O +perhaps RB B-ADVP +the DT B-NP +most RBS I-NP +hated VBD I-NP +and CC I-NP +feared VBD I-NP +of IN B-PP +the DT B-NP +extremists NNS I-NP +, , O +with IN B-PP +a DT B-NP +demand NN I-NP +that IN B-SBAR +the DT B-NP +surrender NN I-NP +be VB B-VP +made VBN I-VP +to TO B-PP +his PRP$ B-NP +forces NNS I-NP +. . O + +The DT B-NP +deal NN I-NP +fell VBD B-VP +through IN B-ADVP +, , O +and CC O +Kandahar NNP B-NP +remains VBZ B-VP +a DT B-NP +major JJ I-NP +regime NN I-NP +base NN I-NP +. . O + +The DT B-NP +resistance NN I-NP +lacks VBZ B-VP +not RB B-NP +only JJ B-ADVP +air NN B-NP +power NN I-NP +, , O +armor NN B-NP +and CC O +expertise NN B-NP +but CC O +often RB B-ADVP +such JJ B-NP +essentials NNS I-NP +as IN B-PP +maps NNS B-NP +, , O +mine NN B-NP +detectors NNS I-NP +, , O +or CC O +even JJ B-ADVP +winter NN B-NP +gloves NNS I-NP +. . O + +Experienced VBN B-NP +resistance NN I-NP +commanders NNS I-NP +wanted VBD B-VP +to TO I-VP +use VB I-VP +guerrilla NN B-NP +action NN I-NP +and CC O +siege NN B-NP +tactics NNS I-NP +to TO B-VP +wear VB I-VP +down RP B-PRT +the DT B-NP +regime NN I-NP +. . O + +Instead RB B-ADVP +, , O +they PRP B-NP +were VBD B-VP +pressured VBN I-VP +by IN B-PP +Pakistan NNP B-NP +'s POS B-NP +ISI NNP I-NP +, , O +the DT B-NP +channel NN I-NP +for IN B-PP +their PRP$ B-NP +support NN I-NP +, , O +into IN B-PP +attacking VBG B-VP +Jalalabad NNP B-NP +. . O + +They PRP B-NP +took VBD B-VP +more JJR B-NP +than IN I-NP +25 CD I-NP +% NN I-NP +casualties NNS I-NP +; : O +journalists NNS B-NP +report VBP B-VP +that IN B-SBAR +they PRP B-NP +faced VBD B-VP +minefields NNS B-NP +without IN B-PP +mine NN B-NP +detectors NNS I-NP +. . O + +The DT B-NP +wonder NN I-NP +is VBZ B-VP +not RB O +that IN B-SBAR +the DT B-NP +resistance NN I-NP +has VBZ B-VP +failed VBN I-VP +to TO I-VP +topple VB I-VP +the DT B-NP +Kabul NNP I-NP +regime NN I-NP +, , O +but CC O +that IN B-SBAR +it PRP B-NP +continues VBZ B-VP +to TO I-VP +exist VB I-VP +and CC I-VP +fight NN I-VP +at IN B-ADVP +all DT I-ADVP +. . O + +Last JJ B-NP +summer NN I-NP +, , O +in IN B-PP +response NN B-NP +to TO B-PP +congressional JJ B-NP +criticism NN I-NP +, , O +the DT B-NP +State NNP I-NP +Department NNP I-NP +and CC O +the DT B-NP +CIA NNP I-NP +said VBD B-VP +they PRP B-NP +had VBD B-VP +resumed VBN I-VP +military JJ B-NP +aid NN I-NP +to TO B-PP +the DT B-NP +resistance NN I-NP +months NNS B-NP +after IN B-SBAR +it PRP B-NP +was VBD B-VP +cut VBN I-VP +off IN B-PRT +; : O +but CC O +it PRP B-NP +is VBZ B-VP +not RB O +clear JJ B-ADJP +how WRB B-NP +much NN I-NP +is VBZ B-VP +being VBG I-VP +sent VBN I-VP +or CC O +when WRB B-ADVP +it PRP B-NP +will MD B-VP +arrive VB I-VP +. . O + +For IN B-PP +months NNS B-NP +the DT B-NP +resistance NN I-NP +has VBZ B-VP +been VBN I-VP +defenseless JJ B-ADJP +against IN B-PP +air NN B-NP +attack NN I-NP +. . O + +Thus RB B-ADVP +far RB I-ADVP +there EX B-NP +is VBZ B-VP +no DT B-NP +indication NN I-NP +that IN B-SBAR +they PRP B-NP +have VBP B-VP +been VBN I-VP +re-supplied VBN I-VP +with IN B-PP +Stingers NNPS B-NP +or CC O +other JJ B-NP +anti-aircraft JJ I-NP +weapons NNS I-NP +. . O + +Indeed RB B-ADVP +, , O +U.S. NNP B-NP +officials NNS I-NP +have VBP B-VP +indicated VBN I-VP +to TO B-PP +the DT B-NP +press NN I-NP +that IN B-SBAR +the DT B-NP +continuation NN I-NP +of IN B-PP +aid NN B-NP +depends VBZ B-VP +on IN B-PP +what WP B-NP +success NN I-NP +the DT B-NP +weakened VBN I-NP +resistance NN I-NP +achieves VBZ B-VP +by IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +this DT B-NP +year NN I-NP +. . O + +Moscow NNP B-NP +and CC I-NP +Kabul NNP I-NP +must MD B-VP +have VB I-VP +found VBN I-VP +that DT B-NP +information NN I-NP +useful JJ B-ADJP +. . O + +For IN B-PP +a DT B-NP +decade NN I-NP +U.S. NNP B-NP +policy NN I-NP +has VBZ B-VP +been VBN I-VP +incoherent JJ B-ADJP +, , O +based VBN B-PP +on IN B-PP +miscalculation NN B-NP +and CC O +the DT B-NP +defense NN I-NP +of IN B-PP +bureaucratic JJ B-NP +and CC I-NP +political JJ I-NP +turf NN I-NP +. . O + +No DT B-NP +settlement NN I-NP +negotiated VBN B-VP +by IN B-PP +others NNS B-NP +can MD B-VP +force VB I-VP +the DT B-NP +Afghan JJ I-NP +people NNS I-NP +to TO B-VP +give VB I-VP +up IN B-PRT +their PRP$ B-NP +struggle NN I-NP +. . O + +A DT B-NP +cutoff NN I-NP +of IN B-PP +U.S. NNP B-NP +military JJ I-NP +aid NN I-NP +would MD B-VP +merely RB I-VP +abandon VB I-VP +them PRP B-NP +to TO B-VP +die VB I-VP +in IN B-PP +vain JJ B-NP +. . O + +Creation NN B-NP +of IN B-PP +a DT B-NP +new JJ I-NP +, , I-NP +realistic JJ I-NP +U.S. NNP I-NP +policy NN I-NP +is VBZ B-VP +long JJ B-ADJP +overdue JJ I-ADJP +. . O + +Ms. NNP B-NP +Klass NNP I-NP +, , O +editor NN B-NP +and CC I-NP +co-author NN I-NP +of IN B-PP +`` `` O +Afghanistan NNP B-NP +: : O +The DT B-NP +Great NNP I-NP +Game NNP I-NP +Revisited NNP B-VP +'' '' O +-LRB- ( O +Freedom NNP B-NP +House NNP I-NP +-RRB- ) O +, , O +directs VBZ B-VP +the DT B-NP +Freedom NNP I-NP +House NNP I-NP +program NN I-NP +on IN B-PP +Afghanistan\/Southwest NNP B-NP +Asia NNP I-NP +. . O + +Nothing NN B-NP +stirred VBD B-VP +the DT B-NP +soul NN I-NP +of IN B-PP +Ronald NNP B-NP +Reagan NNP I-NP +and CC O +his PRP$ B-NP +disciples NNS I-NP +as RB B-ADVP +much JJ I-ADVP +as IN B-PP +the DT B-NP +crusade NN I-NP +to TO B-VP +aid VB I-VP +Nicaragua NNP B-NP +'s POS B-NP +Contra NNP I-NP +rebels NNS I-NP +, , O +or CC O +the DT B-NP +dream NN I-NP +of IN B-PP +building VBG B-VP +a DT B-NP +space-based JJ I-NP +defense NN I-NP +shield NN I-NP +to TO B-VP +knock VB I-VP +out IN B-PRT +Soviet JJ B-NP +nuclear JJ I-NP +missiles NNS I-NP +. . O + +Yet RB B-ADVP +under IN B-PP +Mr. NNP B-NP +Reagan NNP I-NP +'s POS B-NP +preferred JJ I-NP +successor NN I-NP +, , O +President NNP B-NP +Bush NNP I-NP +, , O +those DT B-NP +two CD I-NP +cherished VBN I-NP +national-security NN I-NP +causes NNS I-NP +are VBP B-VP +withering VBG I-VP +on IN B-PP +the DT B-NP +vine NN I-NP +. . O + +And CC O +, , O +surprisingly RB B-ADVP +, , O +little RB B-NP +more JJR I-NP +than IN B-PP +a DT B-NP +whimper NN I-NP +of IN B-PP +protest NN B-NP +is VBZ B-VP +being VBG I-VP +heard VBN I-VP +, , O +even RB B-ADVP +though IN B-SBAR +Reaganauts NNS B-NP +once RB B-ADVP +breathed VBD B-VP +fire NN B-NP +supporting VBG B-VP +the DT B-NP +Contras NNPS I-NP +and CC O +the DT B-NP +Strategic NNP I-NP +Defense NNP I-NP +Initiative NNP I-NP +. . O + +`` `` O +The DT B-NP +programs NNS I-NP +have VBP B-VP +arthritis NN B-NP +, , O +'' '' O +says VBZ B-VP +Rep. NNP B-NP +Henry NNP I-NP +Hyde NNP I-NP +, , O +a DT B-NP +conservative JJ I-NP +Republican NNP I-NP +from IN B-PP +Illinois NNP B-NP +. . O + +Yet RB B-ADVP +, , O +he PRP B-NP +asserts VBZ B-VP +, , O +`` `` O +you PRP B-NP +look VBP B-VP +around IN B-ADVP +... : O +and CC O +you PRP B-NP +say VBP B-VP +, , O +` `` O +Who WP B-NP +are VBP B-VP +the DT B-NP +leaders NNS I-NP +? . O + +Who WP B-NP +is VBZ O +going VBG B-VP +to TO I-VP +carry VB I-VP +the DT B-NP +water NN I-NP +? . O +' '' O +'' '' O + +It PRP B-NP +is VBZ B-VP +n't RB O +surprising JJ B-ADJP +that IN B-SBAR +President NNP B-NP +Bush NNP I-NP +has VBZ B-VP +n't RB I-VP +led VBN I-VP +a DT B-NP +crusade NN I-NP +to TO B-VP +pump VB I-VP +up IN B-PRT +the DT B-NP +Contras NNPS I-NP +or CC O +SDI NNP B-NP +. . O + +Though IN B-SBAR +he PRP B-NP +nominally RB B-VP +supports VBZ I-VP +both DT B-NP +programs NNS I-NP +, , O +Mr. NNP B-NP +Bush NNP I-NP +has VBZ B-VP +n't RB I-VP +been VBN I-VP +a DT B-NP +passionate JJ I-NP +champion NN I-NP +of IN B-PP +either DT B-NP +cause NN I-NP +, , O +as IN B-SBAR +Mr. NNP B-NP +Reagan NNP I-NP +was VBD B-VP +. . O + +What WP B-NP +'s VBZ B-VP +surprising JJ B-ADJP +is VBZ B-VP +that IN B-SBAR +there EX B-NP +is VBZ B-VP +n't RB O +more JJR B-NP +of IN B-PP +a DT B-NP +conservative JJ I-NP +outcry NN I-NP +as IN B-SBAR +the DT B-NP +Bush NNP I-NP +administration NN I-NP +lets VBZ B-VP +the DT B-NP +programs NNS I-NP +slip VBP B-VP +down RP B-PP +the DT B-NP +national-priority JJ I-NP +list NN I-NP +. . O + +A DT B-NP +combination NN I-NP +of IN B-PP +factors NNS B-NP +-- : O +a DT B-NP +weariness NN I-NP +among IN B-PP +some DT B-NP +conservatives NNS I-NP +, , O +a DT B-NP +decline NN I-NP +in IN B-PP +the DT B-NP +perception NN I-NP +of IN B-PP +a DT B-NP +Soviet JJ I-NP +threat NN I-NP +and CC O +a DT B-NP +preoccupation NN I-NP +with IN B-PP +other JJ B-NP +issues NNS I-NP +-- : O +seem VB B-VP +to TO I-VP +explain VB I-VP +the DT B-NP +strange JJ I-NP +tranquility NN I-NP +. . O + +Above IN B-ADVP +all DT I-ADVP +, , O +though RB B-ADVP +, , O +conservative JJ B-NP +Republicans NNPS I-NP +who WP B-NP +have VBP B-VP +championed VBN I-VP +both DT O +the DT B-NP +Contras NNPS I-NP +and CC O +SDI NNP B-NP +are VBP B-VP +reluctant JJ B-ADJP +to TO B-VP +attack VB I-VP +a DT B-NP +Republican NNP I-NP +president NN I-NP +for IN B-PP +failing VBG B-VP +to TO I-VP +do VB I-VP +more JJR B-NP +-- : O +though IN B-SBAR +that DT B-NP +reluctance NN I-NP +may MD B-VP +be VB I-VP +receding VBG I-VP +. . O + +`` `` O +We PRP B-NP +want VBP B-VP +to TO I-VP +complain VB I-VP +, , O +we PRP B-NP +want VBP B-VP +to TO I-VP +say VB I-VP +something NN B-NP +about IN B-PP +it PRP B-NP +, , O +and CC O +we PRP B-NP +'re VBP B-VP +going VBG I-VP +to TO I-VP +as IN B-SBAR +it PRP B-NP +gets VBZ B-VP +worse JJR B-ADJP +, , O +'' '' O +says VBZ B-VP +Rep. NNP B-NP +Dan NNP I-NP +Burton NNP I-NP +, , O +an DT B-NP +Indiana NNP I-NP +Republican NNP I-NP +who WP B-NP +has VBZ B-VP +been VBN I-VP +a DT B-NP +staunch JJ I-NP +Contra NNP I-NP +backer NN I-NP +. . O + +`` `` O +But CC O +it PRP B-NP +'s VBZ B-VP +like IN B-PP +kicking VBG B-VP +your PRP$ B-NP +father NN I-NP +in IN B-PP +the DT B-NP +pants NNS I-NP +. . O + +You PRP B-NP +hate VBP B-VP +to TO I-VP +do VB I-VP +it PRP B-NP +because IN B-SBAR +he PRP B-NP +'s VBZ B-VP +your PRP$ B-NP +father NN I-NP +. . O +'' '' O + +Mr. NNP B-NP +Burton NNP I-NP +says VBZ B-VP +conservatives NNS B-NP +' POS B-NP +unhappiness NN I-NP +with IN B-PP +Mr. NNP B-NP +Bush NNP I-NP +'s POS B-NP +cautious JJ I-NP +handling NN I-NP +of IN B-PP +the DT B-NP +recent JJ I-NP +unsuccessful JJ I-NP +coup NN I-NP +in IN B-PP +Panama NNP B-NP +will MD B-VP +make VB I-VP +them PRP B-NP +more RBR B-ADJP +willing JJ I-ADJP +to TO B-VP +speak VB I-VP +out RB B-PRT +. . O + +Of IN B-PP +course NN B-NP +, , O +neither DT B-NP +President NNP B-NP +Bush NNP I-NP +nor CC O +the DT B-NP +Congress NNP I-NP +has VBZ B-VP +actually RB I-VP +abandoned VBN I-VP +the DT B-NP +Contras NNPS I-NP +or CC O +SDI NNP B-NP +. . O + +Mr. NNP B-NP +Bush NNP I-NP +has VBZ B-VP +struck VBN I-VP +a DT B-NP +deal NN I-NP +with IN B-PP +congressional JJ B-NP +leaders NNS I-NP +to TO B-VP +provide VB I-VP +nonlethal JJ B-NP +aid NN I-NP +to TO B-PP +the DT B-NP +Contras NNPS I-NP +until IN B-SBAR +Nicaragua NNP B-NP +holds VBZ B-VP +national JJ B-NP +elections NNS I-NP +next JJ B-NP +February NNP I-NP +. . O + +But CC O +the DT B-NP +administration NN I-NP +has VBZ B-VP +dropped VBN I-VP +any DT B-NP +effort NN I-NP +to TO B-VP +win VB I-VP +military JJ B-NP +aid NN I-NP +for IN B-PP +the DT B-NP +rebels NNS I-NP +. . O + +And CC O +the DT B-NP +administration NN I-NP +'s POS B-NP +deal NN I-NP +with IN B-PP +Congress NNP B-NP +gives VBZ B-VP +several JJ B-NP +congressional JJ I-NP +committees NNS I-NP +the DT B-NP +right NN I-NP +to TO B-VP +cut VB I-VP +off IN B-PRT +even RB B-NP +humanitarian JJ I-NP +aid NN I-NP +next JJ B-NP +month NN I-NP +, , O +though IN B-SBAR +the DT B-NP +committees NNS I-NP +are VBP B-VP +likely JJ B-ADJP +to TO B-VP +let VB I-VP +aid NN B-NP +continue VB B-VP +until IN B-PP +February NNP B-NP +. . O + +Most JJS B-NP +analysts NNS I-NP +think VBP B-VP +there EX B-NP +'s VBZ B-VP +little JJ B-NP +prospect NN I-NP +the DT B-NP +Contras NNPS I-NP +can MD B-VP +be VB I-VP +a DT B-NP +significant JJ I-NP +fighting NN I-NP +force NN I-NP +without IN B-PP +U.S. NNP B-NP +arms NNS I-NP +, , O +and CC O +after IN B-PP +the DT B-NP +February NNP I-NP +election NN I-NP +their PRP$ B-NP +future NN I-NP +in IN B-PP +any DT B-NP +form NN I-NP +will MD B-VP +be VB I-VP +murky JJ B-ADJP +at IN B-ADVP +best JJS I-ADVP +. . O + +Instead RB B-PP +of IN I-PP +focusing VBG B-VP +on IN B-PP +the DT B-NP +Contras NNPS I-NP +, , O +Mr. NNP B-NP +Bush NNP I-NP +has VBZ B-VP +switched VBN I-VP +to TO B-PP +urging VBG B-VP +members NNS B-NP +of IN B-PP +Congress NNP B-NP +-- : O +most RBS B-ADVP +recently RB I-ADVP +in IN B-PP +a DT B-NP +White NNP I-NP +House NNP I-NP +meeting NN I-NP +yesterday NN B-NP +-- : O +to TO B-VP +approve VB I-VP +financing NN B-NP +for IN B-PP +the DT B-NP +election NN I-NP +campaign NN I-NP +of IN B-PP +political JJ B-NP +opponents NNS I-NP +of IN B-PP +Nicaragua NNP B-NP +'s POS B-NP +Sandinista NNP I-NP +government NN I-NP +. . O + +The DT B-NP +administration NN I-NP +continues VBZ B-VP +to TO I-VP +support VB I-VP +SDI NNP B-NP +, , O +or CC O +Star NNP B-NP +Wars NNP I-NP +, , O +and CC O +it PRP B-NP +recently RB B-ADVP +lobbied VBD B-VP +to TO I-VP +persuade VB I-VP +the DT B-NP +Senate NNP I-NP +to TO B-VP +restore VB I-VP +some DT B-NP +of IN B-PP +the DT B-NP +funds NNS I-NP +it PRP B-NP +planned VBD B-VP +to TO I-VP +cut VB I-VP +from IN B-PP +the DT B-NP +program NN I-NP +. . O + +And CC O +just RB B-NP +last JJ I-NP +week NN I-NP +, , O +Defense NNP B-NP +Secretary NNP I-NP +Dick NNP I-NP +Cheney NNP I-NP +gave VBD B-VP +a DT B-NP +strong JJ I-NP +speech NN I-NP +listing NN B-VP +`` `` O +compelling JJ B-NP +reasons NNS I-NP +'' '' O +to TO B-VP +push VB I-VP +ahead RB B-ADVP +with IN B-PP +SDI NNP B-NP +and CC O +saying VBG B-VP +he PRP B-NP +'d MD B-VP +urge VB I-VP +President NNP B-NP +Bush NNP I-NP +to TO B-VP +veto VB I-VP +a DT B-NP +defense NN I-NP +bill NN I-NP +with IN B-PP +`` `` B-NP +inadequate JJ I-NP +'' '' I-NP +funding NN I-NP +for IN B-PP +the DT B-NP +program NN I-NP +. . O + +But CC O +the DT B-NP +strong JJ I-NP +pitch NN I-NP +by IN B-PP +Mr. NNP B-NP +Cheney NNP I-NP +may MD B-VP +be VB I-VP +too RB B-ADJP +little JJ I-ADJP +too RB B-ADJP +late JJ I-ADJP +to TO B-VP +prevent VB I-VP +damage NN B-NP +to TO B-PP +SDI NNP B-NP +. . O + +The DT B-NP +House NNP I-NP +has VBZ B-VP +already RB I-VP +voted VBN I-VP +for IN B-PP +a DT B-NP +deep JJ I-NP +cut NN I-NP +in IN B-PP +funding NN B-NP +, , O +and CC O +in IN B-PP +the DT B-NP +end NN I-NP +the DT B-NP +program NN I-NP +'s POS B-NP +backers NNS I-NP +will MD B-VP +be VB I-VP +hard RB B-ADJP +pressed VBN I-ADJP +to TO B-VP +head VB I-VP +off IN B-PRT +some DT B-NP +reduction NN I-NP +in IN B-PP +spending NN B-NP +next JJ B-NP +year NN I-NP +. . O + +And CC O +while IN B-SBAR +the DT B-NP +defense NN I-NP +secretary NN I-NP +is VBZ B-VP +speaking VBG I-VP +out IN O +, , O +President NNP B-NP +Bush NNP I-NP +himself PRP I-NP +has VBZ B-VP +n't RB I-VP +launched VBN I-VP +any DT B-NP +high-visibility JJ I-NP +campaign NN I-NP +to TO B-VP +drum VB I-VP +up IN B-PRT +support NN B-NP +, , O +as IN B-SBAR +President NNP B-NP +Reagan NNP I-NP +did VBD B-VP +. . O + +The DT B-NP +administration NN I-NP +also RB B-ADVP +acknowledges VBZ B-VP +that IN B-SBAR +it PRP B-NP +is VBZ B-VP +n't RB I-VP +pursuing VBG I-VP +Mr. NNP B-NP +Reagan NNP I-NP +'s POS B-NP +original JJ I-NP +vision NN I-NP +of IN B-PP +an DT B-NP +`` `` I-NP +impenetrable JJ I-NP +shield NN I-NP +'' '' O +protecting VBG B-VP +the DT B-NP +whole JJ I-NP +U.S. NNP I-NP +, , O +but CC B-CONJP +rather RB I-CONJP +a DT B-NP +more RBR I-NP +modest JJ I-NP +version NN I-NP +. . O + +More RBR B-ADJP +ominous JJ I-ADJP +to TO B-PP +SDI NNP B-NP +supporters NNS I-NP +, , O +the DT B-NP +Bush NNP I-NP +administration NN I-NP +appears VBZ B-VP +to TO I-VP +have VB I-VP +tacitly RB I-VP +accepted VBN I-VP +a DT B-NP +new JJ I-NP +arms-control NN I-NP +proposal NN I-NP +from IN B-PP +the DT B-NP +Soviet NNP I-NP +Union NNP I-NP +that WDT B-NP +spells VBZ B-VP +long-term JJ B-NP +trouble NN I-NP +for IN B-PP +Star NNP B-NP +Wars NNPS I-NP +. . O + +The DT B-NP +Soviets NNPS I-NP +have VBP B-VP +agreed VBN I-VP +to TO I-VP +complete VB I-VP +a DT B-NP +treaty NN I-NP +cutting VBG B-VP +strategic JJ B-NP +weapons NNS I-NP +without IN B-PP +including VBG B-VP +restrictions NNS B-NP +on IN B-PP +space-based JJ B-NP +defenses NNS I-NP +. . O + +But CC O +the DT B-NP +Soviets NNPS I-NP +also RB B-ADVP +are VBP B-VP +insisting VBG I-VP +that IN B-SBAR +they PRP B-NP +will MD B-VP +reserve VB I-VP +the DT B-NP +right NN I-NP +to TO B-VP +withdraw VB I-VP +from IN B-PP +the DT B-NP +completed VBN I-NP +strategic-arms JJ I-NP +treaty NN I-NP +later RB B-ADVP +on IN I-ADVP +if IN B-SBAR +the DT B-NP +U.S. NNP I-NP +does VBZ B-VP +SDI NNP B-NP +testing NN I-NP +or CC I-NP +deployment NN I-NP +that IN B-NP +the DT B-NP +Soviets NNPS I-NP +think VBP B-VP +violates VBZ B-VP +the DT B-NP +existing VBG I-NP +anti-ballistic-missile JJ I-NP +treaty NN I-NP +. . O + +It PRP B-NP +will MD B-VP +be VB I-VP +hard JJ B-ADJP +down RP B-PP +the DT B-NP +road NN I-NP +to TO B-VP +persuade VB I-VP +Congress NNP B-NP +to TO B-VP +approve VB I-VP +money NN B-NP +for IN B-PP +SDI NNP B-NP +plans VBZ I-NP +if IN B-SBAR +lawmakers NNS B-NP +fear VBP B-VP +those DT B-NP +plans NNS I-NP +could MD B-VP +scuttle VB I-VP +a DT B-NP +completed VBN I-NP +treaty NN I-NP +. . O + +As IN B-PP +a DT B-NP +result NN I-NP +, , O +Frank NNP B-NP +Gaffney NNP I-NP +, , O +a DT B-NP +former JJ I-NP +Reagan NNP I-NP +Pentagon NNP I-NP +aide NN I-NP +who WP B-NP +now RB B-ADVP +heads VBZ B-VP +the DT B-NP +Center NNP I-NP +for IN B-PP +Security NNP B-NP +Policy NNP I-NP +, , O +charges VBZ B-VP +that IN B-SBAR +the DT B-NP +administration NN I-NP +'s POS B-NP +`` `` I-NP +professions NNS I-NP +of IN B-PP +continued VBN B-NP +commitment NN I-NP +to TO B-PP +development NN B-NP +and CC I-NP +deployment NN I-NP +of IN B-PP +the DT B-NP +SDI NNP I-NP +program NN I-NP +strain NN B-VP +credulity NN B-NP +. . O +'' '' O + +Still RB B-ADVP +, , O +proponents NNS B-NP +may MD B-VP +be VB I-VP +shying VBG I-VP +away RB B-ADVP +from IN B-PP +more JJR B-NP +drumbeating NN I-NP +because IN B-SBAR +they PRP B-NP +sense VBP B-VP +political JJ B-NP +tides NNS I-NP +have VBP B-VP +turned VBN I-VP +against IN B-PP +arming NN B-VP +the DT B-NP +Nicaraguan JJ I-NP +rebels NNS I-NP +or CC O +boosting VBG B-VP +spending NN B-NP +on IN B-PP +SDI NNP B-NP +-- : O +particularly RB B-ADVP +when WRB B-ADVP +the DT B-NP +public NN I-NP +perceives VBZ B-VP +the DT B-NP +Soviet JJ I-NP +threat NN I-NP +is VBZ B-VP +declining VBG I-VP +under IN B-PP +Mikhail NNP B-NP +Gorbachev NNP I-NP +. . O + +In IN B-PP +fact NN B-NP +, , O +because IN B-SBAR +communism NN B-NP +seems VBZ B-VP +to TO I-VP +be VB I-VP +beating VBG I-VP +a DT B-NP +global JJ I-NP +retreat NN I-NP +, , O +some DT B-NP +conservatives NNS I-NP +may MD B-VP +simply RB I-VP +be VB I-VP +so RB B-ADJP +pleased VBN I-ADJP +that IN B-SBAR +their PRP$ B-NP +anti-communist JJ I-NP +philosophy NN I-NP +is VBZ B-VP +prevailing VBG I-VP +that IN B-SBAR +they PRP B-NP +do VBP B-VP +n't RB I-VP +have VB I-VP +the DT B-NP +fire NN I-NP +at IN B-PP +the DT B-NP +moment NN I-NP +to TO B-VP +push VB I-VP +controversial JJ B-NP +programs NNS I-NP +. . O + +`` `` O +The DT B-NP +short NN I-NP +of IN B-PP +it PRP B-NP +is VBZ B-VP +that IN B-SBAR +the DT B-NP +most RBS I-NP +hard-bitten JJ I-NP +among IN B-PP +us PRP B-NP +can MD B-VP +not RB I-VP +get VB I-VP +into IN B-PP +too RB B-NP +sour VB I-NP +a DT I-NP +mood NN I-NP +with IN B-PP +communism NN B-NP +collapsing VBG B-VP +, , O +'' '' O +says VBZ B-VP +Mitchell NNP B-NP +Daniels NNP I-NP +, , O +a DT B-NP +former JJ I-NP +Reagan NNP I-NP +White NNP I-NP +House NNP I-NP +aide NN I-NP +who WP B-NP +now RB B-ADVP +is VBZ B-VP +president NN B-NP +of IN B-PP +the DT B-NP +Hudson NNP I-NP +Institute NNP I-NP +. . O + +Some DT B-NP +activists NNS I-NP +are VBP B-VP +toiling VBG I-VP +to TO I-VP +raise VB I-VP +the DT B-NP +profile NN I-NP +of IN B-PP +the DT B-NP +two CD I-NP +causes NNS I-NP +. . O + +But CC O +they PRP B-NP +say VBP B-VP +they PRP B-NP +ca MD B-VP +n't RB I-VP +make VB I-VP +much JJ B-NP +headway NN I-NP +because IN B-PP +of IN I-PP +a DT B-NP +lack NN I-NP +of IN B-PP +willing JJ B-NP +leaders NNS I-NP +in IN B-PP +a DT B-NP +position NN I-NP +to TO B-VP +turn VB I-VP +the DT B-NP +tide NN I-NP +. . O + +One CD B-NP +longtime JJ I-NP +champion NN I-NP +of IN B-PP +these DT B-NP +programs NNS I-NP +in IN B-PP +Congress NNP B-NP +, , O +Republican NNP B-NP +whip NN I-NP +Newt NNP I-NP +Gingrich NNP I-NP +of IN B-PP +Georgia NNP B-NP +, , O +is VBZ B-VP +distracted VBN I-VP +by IN B-PP +questions NNS B-NP +about IN B-PP +his PRP$ B-NP +ethics NNS I-NP +, , O +conservatives NNS B-NP +note VBP B-VP +. . O + +Other JJ B-NP +conservative JJ I-NP +champions NNS I-NP +, , O +like IN B-PP +Wyoming NNP B-NP +Republican NNP I-NP +Sen. NNP I-NP +Malcolm NNP B-NP +Wallop NNP I-NP +, , O +a DT B-NP +longtime JJ I-NP +SDI NNP I-NP +advocate NN I-NP +, , O +do VBP B-VP +n't RB I-VP +have VB I-VP +the DT B-NP +clout NN I-NP +with IN B-PP +the DT B-NP +Bush NNP I-NP +White NNP I-NP +House NNP I-NP +that IN B-NP +they PRP B-NP +enjoyed VBD B-VP +with IN B-PP +President NNP B-NP +Reagan NNP I-NP +. . O + +Above IN B-PP +all DT B-NP +, , O +though RB B-ADVP +, , O +proponents NNS B-NP +say VBP B-VP +neither DT B-NP +the DT I-NP +Contra NNP I-NP +nor CC I-NP +the DT I-NP +SDI NNP I-NP +cause NN I-NP +can MD B-VP +be VB I-VP +pushed VBN I-VP +much JJ B-ADVP +further JJ I-ADVP +without IN B-PP +more RBR B-NP +presidential JJ I-NP +support NN I-NP +. . O + +`` `` O +For IN B-SBAR +there EX B-NP +to TO B-VP +be VB I-VP +wind NN B-NP +in IN B-PP +the DT B-NP +sails NNS I-NP +of IN B-PP +any DT B-NP +program NN I-NP +, , O +the DT B-NP +chief JJ I-NP +executive NN I-NP +has VBZ B-VP +to TO I-VP +be VB I-VP +blowing VBG I-VP +in IN B-PP +the DT B-NP +sails NNS I-NP +, , O +'' '' O +says VBZ B-VP +Rep. NNP B-NP +Burton NNP I-NP +. . O + +All DT B-NP +this DT I-NP +causes NNS B-VP +Rep. NNP B-NP +Hyde NNP I-NP +to TO B-VP +muse VB I-VP +about IN B-PP +an DT B-NP +alternate JJ I-NP +way NN I-NP +to TO B-VP +drum VB I-VP +up IN B-PRT +more JJR B-NP +enthusiasm NN I-NP +. . O + +`` `` O +What WP B-NP +I PRP B-NP +'d MD B-VP +like VB I-VP +to TO I-VP +see VB I-VP +, , O +if IN B-SBAR +he PRP B-NP +is VBZ B-VP +up IN B-PP +to TO B-PP +it PRP B-NP +, , O +is VBZ B-VP +for IN B-SBAR +Reagan NNP B-NP +to TO B-VP +take VB I-VP +to TO B-PP +the DT B-NP +hustings NN I-NP +to TO B-VP +regenerate VB I-VP +enthusiasm NN B-NP +for IN B-PP +SDI NNP B-NP +, , O +'' '' O +the DT B-NP +congressman NN I-NP +says NNS B-VP +. . O + +We PRP B-NP +'re VBP B-VP +sorry JJ B-ADJP +to TO B-VP +report VB I-VP +that IN B-SBAR +on IN B-PP +Monday NNP B-NP +President NNP B-NP +Bush NNP I-NP +accepted VBD B-VP +the DT B-NP +resignation NN I-NP +of IN B-PP +William NNP B-NP +Allen NNP I-NP +as IN B-PP +chairman NN B-NP +of IN B-PP +the DT B-NP +U.S. NNP I-NP +Civil NNP I-NP +Rights NNP I-NP +Commission NNP I-NP +. . O + +Mr. NNP B-NP +Allen NNP I-NP +, , O +appointed VBN B-VP +by IN B-PP +President NNP B-NP +Reagan NNP I-NP +, , O +grew VBD B-VP +understandably RB B-ADJP +tired VBN I-ADJP +of IN B-PP +dealing VBG B-VP +with IN B-PP +the DT B-NP +guerrilla NN I-NP +tactics NNS I-NP +of IN B-PP +his PRP$ B-NP +enemies NNS I-NP +. . O + +His PRP$ B-NP +recent JJ I-NP +speech NN I-NP +, , O +provocatively RB B-VP +titled VBN I-VP +`` `` O +Blacks NNS B-NP +? . O +Animals NNS B-NP +? . O +Homosexuals NNS B-NP +? . O +What WP B-NP +is VBZ B-VP +a DT B-NP +Minority NNP I-NP +? . O +'' '' O +caused VBN B-VP +an DT B-NP +uproar NN I-NP +when WRB B-ADVP +its PRP$ B-NP +title NN I-NP +leaked VBN B-VP +out RB B-ADVP +. . O + +Mr. NNP B-NP +Allen NNP I-NP +'s POS B-NP +commissioners NNS I-NP +voted VBD B-VP +to TO I-VP +call VB I-VP +his PRP$ B-NP +unread JJ I-NP +speech NN I-NP +`` `` O +thoughtless JJ B-ADJP +, , O +disgusting JJ B-ADJP +and CC O +unnecessarily RB B-ADJP +inflammatory JJ I-ADJP +. . O +'' '' O + +Commissioner NNP B-NP +Mary NNP I-NP +Francis NNP I-NP +Berry NNP I-NP +said VBD B-VP +it PRP B-NP +was VBD B-VP +`` `` O +another DT B-NP +sad JJ I-NP +episode NN I-NP +in IN B-PP +the DT B-NP +saga NN I-NP +of IN B-PP +the DT B-NP +unguided JJ I-NP +missile NN I-NP +who WP B-NP +is VBZ B-VP +chairman NN B-NP +. . O +'' '' O + +Rep. NNP B-NP +Don NNP I-NP +Edwards NNP I-NP +, , O +the DT B-NP +California NNP I-NP +Democrat NNP I-NP +, , O +warned VBD B-VP +Mr. NNP B-NP +Allen NNP I-NP +that IN B-SBAR +the DT B-NP +speech NN I-NP +would MD B-VP +be VB I-VP +`` `` O +outside IN B-PP +the DT B-NP +scope NN I-NP +of IN B-PP +the DT B-NP +commission NN I-NP +'s POS B-NP +jurisdiction NN I-NP +. . O +'' '' O + +Thomas NNP B-NP +Stoddard NNP I-NP +, , O +head NN B-NP +of IN B-PP +the DT B-NP +Lambda NNP I-NP +Legal NNP I-NP +Defense NNP I-NP +Fund NNP I-NP +, , O +called VBD B-VP +the DT B-NP +prospect NN I-NP +of IN B-PP +the DT B-NP +speech NN I-NP +`` `` O +frankly RB B-ADJP +shocking JJ I-ADJP +. . O +'' '' O + +We PRP B-NP +'ve VBP B-VP +actually RB I-VP +read VB I-VP +the DT B-NP +speech NN I-NP +. . O + +Mr. NNP B-NP +Allen NNP I-NP +began VBD B-VP +it PRP B-NP +with IN B-PP +a DT B-NP +warning NN I-NP +to TO B-PP +his PRP$ B-NP +hosts NNS I-NP +, , O +a DT B-NP +California NNP I-NP +church NN I-NP +group NN I-NP +that WDT B-NP +opposes VBZ B-VP +rights NNS B-NP +for IN B-PP +homosexuals NNS B-NP +. . O + +He PRP B-NP +said VBD B-VP +that IN B-SBAR +other JJ B-NP +participants NNS I-NP +in IN B-PP +the DT B-NP +conference NN I-NP +`` `` O +do VBP B-VP +not RB I-VP +believe VB I-VP +that IN B-SBAR +the DT B-NP +rights NNS I-NP +of IN B-PP +Americans NNPS B-NP +should MD B-VP +be VB I-VP +guaranteed VBN I-VP +to TO B-PP +citizens NNS B-NP +who WP B-NP +are VBP B-VP +homosexual JJ B-ADJP +, , O +'' '' O +but CC O +that IN B-SBAR +`` `` O +I PRP B-NP +mean VBP B-VP +to TO I-VP +persuade VB I-VP +you PRP B-NP +to TO B-PP +the DT B-NP +opposite JJ I-NP +view NN I-NP +. . O +'' '' O + +He PRP B-NP +recalled VBD B-VP +to TO B-PP +the DT B-NP +audience NN I-NP +a DT B-NP +`` `` I-NP +strange JJ I-NP +, , I-NP +infelicitous JJ I-NP +'' '' I-NP +analogy NN I-NP +he PRP B-NP +once RB B-ADVP +heard VBD B-VP +arguing VBG B-VP +`` `` O +now RB B-ADVP +that IN B-SBAR +we PRP B-NP +have VBP B-VP +finally RB I-VP +recognized VBN I-VP +that IN B-SBAR +American JJ B-NP +blacks NNS I-NP +have VBP B-VP +rights NNS B-NP +, , O +we PRP B-NP +need VBP B-VP +to TO I-VP +do VB I-VP +the DT B-NP +same JJ I-NP +for IN B-PP +animals NNS B-NP +. . O + +'' '' O +Mr. NNP B-NP +Allen NNP I-NP +objected VBD B-VP +to TO B-PP +this DT B-NP +analogy NN I-NP +because IN B-SBAR +it PRP B-NP +seems VBZ B-VP +to TO I-VP +`` `` O +assimilate VB B-VP +the DT B-NP +status NN I-NP +of IN B-PP +blacks NNS B-NP +to TO B-PP +that IN B-NP +of IN B-PP +animals NNS B-NP +-- : O +as IN B-PP +a DT B-NP +mere JJ I-NP +project NN I-NP +of IN B-PP +charity NN B-NP +, , O +of IN B-PP +humaneness NN B-NP +. . O +'' '' O + +Rights NNS B-NP +on IN B-PP +such JJ B-NP +a DT I-NP +basis NN I-NP +, , O +whether IN B-SBAR +for IN B-PP +blacks NNS B-NP +or CC I-NP +homosexuals NNS I-NP +, , O +are VBP B-VP +`` `` O +mere JJ B-NP +indulgences NNS I-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +, , O +subject NN B-ADJP +to TO B-PP +being VBG B-VP +taken VBN I-VP +back RB B-PRT +. . O + +He PRP B-NP +says VBZ B-VP +the DT B-NP +title NN I-NP +of IN B-PP +his PRP$ B-NP +speech NN I-NP +was VBD B-VP +to TO I-VP +make VB I-VP +his PRP$ B-NP +point NN I-NP +that IN B-SBAR +Americans NNPS B-NP +have VBP B-VP +rights NNS B-NP +as IN B-PP +individuals NNS B-NP +, , B-PP +not RB I-PP +as IN B-PP +members NNS B-NP +of IN B-PP +certain JJ B-NP +select VB I-NP +groups NNS I-NP +. . O + +His PRP$ B-NP +speech NN I-NP +criticized VBD B-VP +the DT B-NP +`` `` I-NP +idiocy NN I-NP +of IN B-PP +notions NNS B-NP +of IN B-PP +protected VBN B-NP +groups NNS I-NP +in IN B-PP +society NN B-NP +'' '' O +as IN B-SBAR +opposed VBN B-VP +to TO B-PP +individual JJ B-NP +equality NN I-NP +or CC O +, , O +as IN B-SBAR +he PRP B-NP +put VBP B-VP +it PRP B-NP +, , O +in IN B-PP +`` `` O +a DT B-NP +common JJ I-NP +destiny NN I-NP +as IN B-PP +Americans NNPS B-NP +. . O +'' '' O + +Instead RB B-PP +of IN I-PP +lobbying VBG B-VP +for IN B-PP +special JJ B-NP +treatment NN I-NP +, , O +Mr. NNP B-NP +Allen NNP I-NP +said VBD B-VP +that IN B-SBAR +homosexuals NNS B-NP +and CC I-NP +others NNS I-NP +should MD B-VP +try VB I-VP +to TO I-VP +ensure VB I-VP +equal JJ B-NP +treatment NN I-NP +under IN B-PP +the DT B-NP +law NN I-NP +and CC O +not RB O +aim VB B-VP +for IN B-PP +special JJ B-NP +privileges NNS I-NP +that WDT B-NP +would MD B-VP +risk VB I-VP +`` `` O +invidious JJ B-NP +retrenchment NN I-NP +with IN B-PP +government NN B-NP +complicity NN I-NP +. . O +'' '' O + +This DT B-NP +hardly RB B-ADVP +sounds VBZ B-VP +like IN B-PP +an DT B-NP +anti-homosexual JJ I-NP +screed NN I-NP +. . O + +What WP B-NP +'s VBZ O +really RB B-ADVP +going VBG B-VP +on IN B-PRT +here RB B-ADVP +? . O + +The DT B-NP +three CD I-NP +most RBS I-NP +important JJ I-NP +things NNS I-NP +to TO B-VP +understand VB I-VP +about IN B-PP +Mr. NNP B-NP +Allen NNP I-NP +is VBZ B-VP +that IN B-SBAR +he PRP B-NP +is VBZ B-VP +a DT B-NP +black JJ I-NP +conservative JJ I-NP +intellectual JJ I-NP +-- : O +a DT B-NP +triple JJ I-NP +threat NN I-NP +to TO B-PP +the DT B-NP +liberal JJ I-NP +establishment NN I-NP +. . O + +Mr. NNP B-NP +Allen NNP I-NP +, , O +who WP B-NP +teaches VBZ B-VP +government NN B-NP +at IN B-PP +prestigious JJ B-NP +Harvey NNP I-NP +Mudd NNP I-NP +College NNP I-NP +in IN B-PP +California NNP B-NP +and CC O +will MD B-VP +remain VB I-VP +a DT B-NP +member NN I-NP +of IN B-PP +the DT B-NP +commission NN I-NP +, , O +has VBZ B-VP +spent VBN I-VP +years NNS B-NP +arguing VBG B-VP +that IN B-SBAR +civil JJ B-NP +rights NNS I-NP +are VBP B-VP +individuals NNS B-NP +' POS B-NP +rights NNS I-NP +. . O + +He PRP B-NP +last RB B-ADVP +made VBN B-VP +waves NNS B-NP +when WRB B-ADVP +he PRP B-NP +dared VBD B-VP +to TO I-VP +defend VB I-VP +an DT B-NP +Indian NNP I-NP +girl NN I-NP +who WP B-NP +had VBD B-VP +been VBN I-VP +adopted VBN I-VP +by IN B-PP +non-Indian JJ B-NP +parents NNS I-NP +off IN B-PP +her PRP$ B-NP +reservation NN I-NP +. . O + +Mr. NNP B-NP +Allen NNP I-NP +quickly RB B-VP +ran VBD I-VP +up IN B-ADVP +against IN B-PP +the DT B-NP +liberal JJ I-NP +establishment NN I-NP +again RB B-ADVP +, , O +which WDT B-NP +somehow RB B-ADVP +elevated VBN B-VP +the DT B-NP +vague JJ I-NP +concept NN I-NP +of IN B-PP +`` `` O +Indian NNP B-NP +rights NNS I-NP +'' '' O +above IN B-PP +the DT B-NP +rights NNS I-NP +of IN B-PP +individual JJ B-NP +Indians NNPS I-NP +. . O + +There EX B-NP +is VBZ B-VP +a DT B-NP +huge JJ I-NP +divide NN I-NP +between IN B-PP +Mr. NNP B-NP +Allen NNP I-NP +'s POS B-NP +we're-all-in-this-together JJ I-NP +view NN I-NP +and CC O +the DT B-NP +divisive JJ I-NP +litigation NN I-NP +approach NN I-NP +of IN B-PP +the DT B-NP +civil JJ I-NP +rights NNS I-NP +groups NNS I-NP +. . O + +Indeed RB B-ADVP +, , O +the DT B-NP +gap NN I-NP +is VBZ B-VP +so RB B-ADJP +large JJ I-ADJP +that IN B-SBAR +Mr. NNP B-NP +Allen NNP I-NP +'s POS B-NP +critics NNS I-NP +refuse VBP B-VP +to TO I-VP +engage VB I-VP +the DT B-NP +debate NN I-NP +. . O + +Their PRP$ B-NP +ridicule NN I-NP +of IN B-PP +him PRP B-NP +is VBZ B-VP +no DT B-NP +substitute NN I-NP +for IN B-PP +argument NN B-NP +. . O + +Their PRP$ B-NP +effort NN I-NP +to TO B-VP +run VB I-VP +him PRP B-NP +out IN B-ADVP +of IN B-PP +Washington NNP B-NP +is VBZ B-VP +an DT B-NP +embarrassment NN I-NP +to TO B-PP +the DT B-NP +original JJ I-NP +purpose NN I-NP +of IN B-PP +their PRP$ B-NP +own JJ I-NP +movement NN I-NP +. . O + +We PRP B-NP +hope VBP B-VP +the DT B-NP +next JJ I-NP +head NN I-NP +of IN B-PP +the DT B-NP +Civil NNP I-NP +Rights NNP I-NP +Commission NNP I-NP +will MD B-VP +be VB I-VP +as RB B-ADJP +brave JJ I-ADJP +as IN B-PP +Mr. NNP B-NP +Allen NNP I-NP +in IN B-PP +making VBG B-VP +the DT B-NP +case NN I-NP +for IN B-PP +equality NN B-NP +of IN B-PP +civil JJ B-NP +rights NNS I-NP +. . O + +Bearings NNP B-NP +Inc. NNP I-NP +said VBD B-VP +its PRP$ B-NP +chairman NN I-NP +, , O +John NNP B-NP +R. NNP I-NP +Cunin NNP I-NP +, , O +will MD B-VP +retire VB I-VP +as IN B-PP +an DT B-NP +officer NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +on IN B-PP +Jan. NNP B-NP +2 CD I-NP +. . O + +George NNP B-NP +L. NNP I-NP +LaMore NNP I-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +, , O +will MD B-VP +become VB I-VP +chairman NN B-NP +and CC O +chief JJ B-NP +executive NN I-NP +upon IN B-PP +Mr. NNP B-NP +Cunin NNP I-NP +'s POS B-NP +retirement NN I-NP +. . O + +John NNP B-NP +C. NNP I-NP +Dannemiller NNP I-NP +, , O +executive JJ B-NP +vice NN I-NP +president NN I-NP +and CC O +chief JJ B-NP +operating VBG I-NP +officer NN I-NP +, , O +will MD B-VP +become VB I-VP +president NN B-NP +and CC O +chief JJ B-NP +operating VBG I-NP +officer NN I-NP +. . O + +Mr. NNP B-NP +Cunin NNP I-NP +, , O +65 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +was VBD B-VP +chief JJ B-NP +executive NN I-NP +of IN B-PP +the DT B-NP +distributor NN I-NP +of IN B-PP +bearings NNS B-NP +and CC O +power-transmission JJ B-NP +products NNS I-NP +from IN B-PP +1982 CD B-NP +to TO B-PP +1988 CD B-NP +. . O + +He PRP B-NP +will MD B-VP +continue VB I-VP +as IN B-PP +a DT B-NP +director NN I-NP +. . O + +Mr. NNP B-NP +LaMore NNP I-NP +, , O +63 CD B-NP +, , O +a DT B-NP +48-year JJ I-NP +veteran NN I-NP +at IN B-PP +Bearings NNP B-NP +, , O +has VBZ B-VP +been VBN I-VP +president NN B-NP +since IN B-PP +1983 CD B-NP +. . O + +Mr. NNP B-NP +Dannemiller NNP I-NP +, , O +51 CD B-NP +, , O +joined VBD B-VP +Bearings NNP B-NP +in IN B-PP +August NNP B-NP +1988 CD I-NP +from IN B-PP +Leaseway NNP B-NP +Transportation NNP I-NP +Corp. NNP I-NP +, , O +where WRB B-ADVP +he PRP B-NP +was VBD B-VP +president NN B-NP +and CC O +chief JJ B-NP +operating VBG I-NP +officer NN I-NP +. . O + +He PRP B-NP +has VBZ B-VP +been VBN I-VP +a DT B-NP +Bearings NNP I-NP +director NN I-NP +since IN B-PP +1985 CD B-NP +. . O + +The DT B-NP +appointments NNS I-NP +are VBP B-VP +part NN B-NP +of IN B-PP +a DT B-NP +planned VBN I-NP +succession NN I-NP +at IN B-PP +the DT B-NP +company NN I-NP +. . O + +Soviet JJ B-NP +leader NN I-NP +Mikhail NNP I-NP +Gorbachev NNP I-NP +opened VBD B-VP +a DT B-NP +major JJ I-NP +U.S. NNP I-NP +trade NN I-NP +exhibition NN I-NP +in IN B-PP +Moscow NNP B-NP +and CC O +spent VBD B-VP +two CD B-NP +hours NNS I-NP +touring VBG B-VP +some DT B-NP +of IN B-PP +the DT B-NP +150 CD I-NP +stalls NNS I-NP +representing VBG B-VP +such JJ B-NP +blue-chip JJ I-NP +companies NNS I-NP +as IN B-PP +General NNP B-NP +Motors NNPS I-NP +Corp. NNP I-NP +, , O +International NNP B-NP +Business NNP I-NP +Machines NNP I-NP +Corp. NNP I-NP +and CC O +Johnson NNP B-NP +& CC I-NP +Johnson NNP I-NP +. . O + +At IN B-PP +the DT B-NP +Archer-Daniels-Midland NNP I-NP +Co. NNP I-NP +stand VB I-NP +, , O +Mrs. NNP B-NP +Nelson NNP I-NP +Rockefeller NNP I-NP +, , O +a DT B-NP +board NN I-NP +member NN I-NP +, , O +offered VBD B-VP +him PRP B-NP +a DT B-NP +soy NN I-NP +burger NN I-NP +. . O + +He PRP B-NP +did VBD B-VP +n't RB I-VP +bite VB I-VP +. . O + +The DT B-NP +exhibition NN I-NP +by IN B-PP +the DT B-NP +U.S.-U.S.S.R. NNP I-NP +Trade NNP I-NP +and CC I-NP +Economic NNP I-NP +Council NNP I-NP +underscores VBZ B-VP +the DT B-NP +growing VBG I-NP +U.S. NNP I-NP +interest NN I-NP +in IN B-PP +that DT B-NP +nation NN I-NP +'s POS B-NP +market NN I-NP +, , O +though IN B-SBAR +trade NN B-NP +between IN B-PP +the DT B-NP +two CD I-NP +countries NNS I-NP +is VBZ B-VP +a DT B-NP +minuscule JJ I-NP +$ $ I-NP +3 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +Soviet JJ I-NP +president NN I-NP +and CC O +his PRP$ B-NP +prime JJ I-NP +minister NN I-NP +, , O +Nikolai NNP B-NP +Ryzhkov NNP I-NP +, , O +spent VBD B-VP +the DT B-NP +longest JJS I-NP +time NN I-NP +, , O +about IN B-NP +15 CD I-NP +minutes NNS I-NP +, , O +at IN B-PP +the DT B-NP +IBM NNP I-NP +stand NN I-NP +, , O +where WRB B-ADVP +they PRP B-NP +got VBD B-VP +souvenir NN B-NP +computer-chip NN I-NP +key JJ I-NP +rings NNS I-NP +. . O + +At IN B-PP +the DT B-NP +GM NNP I-NP +stall NN I-NP +, , O +they PRP B-NP +barely RB B-ADVP +looked VBD B-VP +at IN B-PP +a DT B-NP +gleaming VBG I-NP +Cadillac NNP I-NP +, , O +preferring VBG B-VP +to TO I-VP +talk VB I-VP +about IN B-PP +cooperation NN B-NP +possibilities NNS I-NP +. . O + +In IN B-PP +Beijing NNP B-NP +, , O +meantime NN B-ADVP +, , O +China NNP B-NP +opened VBD B-VP +an DT B-NP +international JJ I-NP +aviation NN I-NP +show NN I-NP +, , O +but CC O +the DT B-NP +West NNP I-NP +'s POS B-NP +embargo NN I-NP +on IN B-PP +military JJ B-NP +deals NNS I-NP +and CC O +uncertainty NN B-NP +about IN B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +stability NN I-NP +kept VBD B-VP +many JJ B-NP +foreign JJ I-NP +exhibitors NNS I-NP +away RB B-ADVP +. . O + +Officials NNS B-NP +said VBD B-VP +91 CD B-NP +companies NNS I-NP +from IN B-PP +14 CD B-NP +countries NNS I-NP +, , O +including VBG B-PP +the DT B-NP +U.S. NNP I-NP +, , O +had VBD B-VP +displays NNS B-NP +, , O +down RB B-ADVP +from IN B-PP +about IN B-NP +260 CD I-NP +firms NNS I-NP +from IN B-PP +more JJR B-NP +than IN I-NP +20 CD I-NP +countries NNS I-NP +at IN B-PP +the DT B-NP +last JJ I-NP +show NN I-NP +in IN I-NP + +Japanese JJ B-NP +air-conditioner NN I-NP +maker NN I-NP +Daikin NNP I-NP +Industries NNP I-NP +Ltd. NNP I-NP +was VBD B-VP +fined VBN I-VP +two CD B-NP +million CD I-NP +yen NN I-NP +-LRB- ( O +$ $ B-NP +14,000 CD I-NP +-RRB- ) O +for IN B-PP +exporting VBG B-VP +to TO B-PP +the DT B-NP +Soviet NNP I-NP +Union NNP I-NP +a DT B-NP +chemical NN I-NP +solution NN I-NP +that WDT B-NP +could MD B-VP +be VB I-VP +used VBN I-VP +in IN B-PP +missile-guidance JJ B-NP +systems NNS I-NP +. . O + +A DT B-NP +Daikin NNP I-NP +executive NN I-NP +in IN B-PP +charge NN B-NP +of IN B-PP +exports NNS B-NP +when WRB B-ADVP +the DT B-NP +high-purity NN I-NP +halogenated VBD I-NP +hydrocarbon NN I-NP +was VBD B-VP +sold VBN I-VP +to TO B-PP +the DT B-NP +Soviets NNPS I-NP +in IN B-PP +1986 CD B-NP +received VBD B-VP +a DT B-NP +suspended VBN I-NP +10-month JJ I-NP +jail NN I-NP +sentence NN I-NP +. . O + +Judge NNP B-NP +Masaaki NNP I-NP +Yoneyama NNP I-NP +told VBD B-VP +the DT B-NP +Osaka NNP I-NP +District NNP I-NP +Court NNP I-NP +Daikin NNP B-NP +'s POS B-NP +`` `` I-NP +responsibility NN I-NP +is VBZ B-VP +heavy JJ B-ADJP +because IN B-SBAR +illegal JJ B-NP +exports NNS I-NP +lowered VBD B-VP +international JJ B-NP +trust NN I-NP +in IN B-PP +Japan NNP B-NP +. . O +'' '' O + +Sale NNP B-NP +of IN B-PP +the DT B-NP +solution NN I-NP +in IN B-PP +concentrated VBN B-NP +form NN I-NP +to TO B-PP +Communist NNP B-NP +countries NNS I-NP +is VBZ B-VP +prohibited VBN I-VP +by IN B-PP +Japanese JJ B-NP +law NN I-NP +and CC B-PP +by IN B-PP +international JJ B-NP +agreement NN I-NP +. . O + +A DT B-NP +Soviet JJ I-NP +legislative JJ I-NP +panel NN I-NP +rejected VBD B-VP +as IN B-PP +not RB B-ADJP +radical JJ I-ADJP +enough RB I-ADJP +a DT B-NP +government NN I-NP +proposal NN I-NP +on IN B-PP +decentralizing VBG B-VP +economic JJ B-NP +control NN I-NP +. . O + +The DT B-NP +newspaper NN I-NP +Leninskoye NNP I-NP +Zamya NNP I-NP +said VBD B-VP +the DT B-NP +committee NN I-NP +decided VBD B-VP +the DT B-NP +plan NN I-NP +to TO B-VP +parcel VB I-VP +out RP B-PRT +economic JJ B-NP +powers NNS I-NP +previously RB B-VP +exercised VBN I-VP +by IN B-PP +Moscow NNP B-NP +to TO B-PP +the DT B-NP +country NN I-NP +'s POS B-NP +15 CD I-NP +republics NNS I-NP +`` `` O +does VBZ B-VP +n't RB I-VP +reflect VB I-VP +the DT B-NP +radical JJ I-NP +changes NNS I-NP +in IN B-PP +the DT B-NP +Soviet JJ I-NP +federation NN I-NP +. . O +'' '' O + +The DT B-NP +committee NN I-NP +gave VBD B-VP +the DT B-NP +government NN I-NP +until IN B-PP +Nov. NNP B-NP +15 CD I-NP +to TO B-VP +revise VB I-VP +the DT B-NP +proposal NN I-NP +. . O + +The DT B-NP +move NN I-NP +reflected VBD B-VP +the DT B-NP +growing VBG I-NP +confidence NN I-NP +of IN B-PP +the DT B-NP +revamped VBN I-NP +Supreme NNP I-NP +Soviet JJ I-NP +. . O + +Scott NNP B-NP +Paper NNP I-NP +Co. NNP I-NP +said VBD B-VP +it PRP B-NP +is VBZ B-VP +abandoning VBG I-VP +a DT B-NP +proposed VBN I-NP +$ $ I-NP +650 CD I-NP +million CD I-NP +tree-farming JJ I-NP +project NN I-NP +in IN B-PP +Indonesia NNP B-NP +because IN B-SBAR +it PRP B-NP +no RB B-ADVP +longer RB I-ADVP +expects VBZ B-VP +to TO I-VP +use VB I-VP +as IN B-NP +much JJ I-NP +eucalyptus NN I-NP +pulp NN I-NP +as IN O +previously RB B-VP +anticipated VBN I-VP +. . O + +The DT B-NP +eucalyptus NN I-NP +plantation NN I-NP +and CC I-NP +pulp NN I-NP +mill NN I-NP +, , O +which WDT B-NP +would MD B-VP +have VB I-VP +covered VBN I-VP +about IN B-NP +175,000 CD I-NP +acres NNS I-NP +in IN B-PP +the DT B-NP +Irian NNP I-NP +Jaya NNP I-NP +region NN I-NP +, , O +had VBD B-VP +been VBN I-VP +approved VBN I-VP +by IN B-PP +Indonesia NNP B-NP +'s POS B-NP +investment NN I-NP +board NN I-NP +. . O + +But CC O +it PRP B-NP +was VBD B-VP +opposed VBN I-VP +by IN B-PP +some DT B-NP +environmentalists NNS I-NP +as IN B-PP +a DT B-NP +threat NN I-NP +to TO B-PP +Irian NNP B-NP +Jaya NNP I-NP +'s POS B-NP +forests NNS I-NP +and CC O +a DT B-NP +potential JJ I-NP +source NN I-NP +of IN B-PP +social JJ B-NP +unrest NN I-NP +for IN B-PP +the DT B-NP +primitive JJ I-NP +tribes NNS I-NP +who WP B-NP +inhabit VBP B-VP +them PRP B-NP +. . O + +Yaohan NNP B-NP +Departmentstore NNP I-NP +Co. NNP I-NP +of IN B-PP +Japan NNP B-NP +is VBZ B-VP +moving VBG I-VP +its PRP$ B-NP +international-operations NNS I-NP +headquarters NN I-NP +and CC O +holding VBG B-NP +company NN I-NP +to TO B-PP +Hong NNP B-NP +Kong NNP I-NP +to TO B-VP +gain VB I-VP +from IN B-PP +the DT B-NP +British JJ I-NP +colony NN I-NP +'s POS B-NP +economic JJ I-NP +advantages NNS I-NP +and CC I-NP +tax NN I-NP +structure NN I-NP +. . O + +With IN B-PP +funds NNS B-NP +of IN B-PP +5.56 CD B-NP +billion CD I-NP +Hong NNP I-NP +Kong NNP I-NP +dollars NNS I-NP +-LRB- ( O +US$ $ B-NP +712 CD I-NP +million CD I-NP +-RRB- ) O +, , O +the DT B-NP +new JJ I-NP +company NN I-NP +, , O +Yaohan NNP B-NP +International NNP I-NP +Co. NNP I-NP +, , O +plans VBZ B-VP +to TO I-VP +acquire VB I-VP +10 CD B-NP +of IN B-PP +Hong NNP B-NP +Kong NNP I-NP +'s POS B-NP +top JJ I-NP +restaurants NNS I-NP +. . O + +It PRP B-NP +also RB B-VP +intends VBZ I-VP +to TO B-VP +set VB I-VP +up IN B-PRT +an DT B-NP +international JJ I-NP +wholesale JJ I-NP +market NN I-NP +with IN B-PP +the DT B-NP +Singapore NNP I-NP +government NN I-NP +next JJ B-NP +May NNP I-NP +and CC O +to TO B-VP +open VB I-VP +a DT B-NP +department NN I-NP +store NN I-NP +in IN B-PP +Bangkok NNP B-NP +and CC O +shopping NN B-NP +centers NNS I-NP +in IN B-PP +Malaysia NNP B-NP +, , I-NP +Taiwan NNP I-NP +, , I-NP +Canada NNP I-NP +, , I-NP +Chicago NNP I-NP +and CC I-NP +Seattle NNP I-NP +by IN B-PP +December NNP B-NP +1990 CD I-NP +. . O + +The DT B-NP +chain NN I-NP +currently RB B-VP +has VBZ I-VP +90 CD B-NP +retail JJ I-NP +outlets NNS I-NP +in IN B-PP +Japan NNP B-NP +, , O +seven CD B-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +, , O +three CD B-NP +in IN B-PP +Hong NNP B-NP +Kong NNP I-NP +and CC O +a DT B-NP +dozen NN I-NP +more RBR B-NP +scattered VBN B-ADJP +around IN B-PP +the DT B-NP +globe NN I-NP +. . O + +Major NNP B-NP +European JJ I-NP +auction NN I-NP +houses NNS I-NP +are VBP B-VP +turning VBG I-VP +increasingly RB B-ADVP +to TO B-PP +specialized JJ B-NP +sales NNS I-NP +. . O + +Christie NNP B-NP +'s POS B-NP +will MD B-VP +soon RB I-VP +have VB I-VP +a DT B-NP +sale NN I-NP +of IN B-PP +Dada NNP B-NP +and CC I-NP +Symbolist NNP I-NP +art NN I-NP +while IN O +Sotheby NNP B-NP +'s POS B-NP +is VBZ B-VP +luring VBG I-VP +collectors NNS B-NP +with IN B-PP +sales NNS B-NP +of IN B-PP +Swiss JJ B-NP +, , I-NP +German JJ I-NP +, , I-NP +Spanish JJ I-NP +, , I-NP +Australian JJ I-NP +and CC I-NP +Canadian JJ I-NP +paintings NNS I-NP +. . O + +In IN B-PP +Brussels NNP B-NP +, , O +Hotel NNP B-NP +de FW I-NP +Ventes NNP I-NP +Horta NNP I-NP +auctioned VBD B-VP +pistols NNS B-NP +and CC I-NP +sabers NNS I-NP +- : O +along IN B-ADVP +with IN B-PP +paintings NNS B-NP +and CC I-NP +jewels NNS I-NP +. . O + +Berlin NNP B-NP +'s POS B-NP +Villa NNP I-NP +Grisebach NNP I-NP +will MD B-VP +auction VB I-VP +art NN B-NP +works NNS I-NP +with IN B-PP +pre-sale JJ B-NP +estimates NNS I-NP +of IN B-PP +less JJR B-NP +than IN I-NP +$ $ I-NP +1,600 CD I-NP +on IN B-PP +Nov. NNP B-NP +25 CD I-NP +. . O + +The DT B-NP +auction NN I-NP +house NN I-NP +, , O +known VBN B-VP +for IN B-PP +its PRP$ B-NP +sales NNS I-NP +of IN B-PP +top-drawer NN B-NP +19th JJ I-NP +and CC I-NP +20th JJ I-NP +century NN I-NP +works NNS I-NP +, , O +is VBZ B-VP +providing VBG I-VP +`` `` O +a DT B-NP +service NN I-NP +to TO B-PP +clients NNS B-NP +who WP B-NP +do VBP B-VP +n't RB I-VP +want VB I-VP +to TO I-VP +sell VB I-VP +just RB B-NP +their PRP$ I-NP +fabulous JJ I-NP +oil NN I-NP +paintings NNS I-NP +, , O +'' '' O +says VBZ B-VP +Villa NNP B-NP +Grisebach NNP I-NP +'s POS B-NP +Vivien NNP I-NP +Reuter NNP I-NP +. . O + +Antwerp NNP B-NP +auctioneer NN I-NP +Campo NNP I-NP +is VBZ B-VP +less RBR B-ADJP +concerned VBN I-ADJP +with IN B-PP +market NN B-NP +niches NNS I-NP +than IN B-ADVP +with IN B-PP +Belgium NNP B-NP +'s POS B-NP +crushing VBG I-NP +tax NN I-NP +and CC I-NP +auction-fee JJ I-NP +burden NN I-NP +. . O + +`` `` O +Everything NN B-NP +has VBZ B-VP +to TO I-VP +be VB I-VP +the DT B-NP +same JJ I-NP +between IN B-PP +countries NNS B-NP +, , O +'' '' O +says VBZ B-VP +Campo NNP B-NP +'s POS B-NP +Stefan NNP I-NP +Campo NNP I-NP +, , O +who WP B-NP +is VBZ B-VP +asking VBG I-VP +clients NNS B-NP +to TO B-VP +sign VB I-VP +protest NN B-NP +petitions NNS I-NP +. . O + +`` `` O +Then RB B-ADVP +there EX B-NP +'ll MD B-VP +be VB I-VP +fair JJ B-NP +competition NN I-NP +. . O +'' '' O + +Ending VBG B-VP +tax-free JJ B-NP +shopping NN I-NP +in IN B-PP +the DT B-NP +European NNP I-NP +Community NNP I-NP +after IN B-PP +1992 CD B-NP +could MD B-VP +threaten VB I-VP +more JJR B-NP +than IN I-NP +3,000 CD I-NP +jobs NNS I-NP +, , O +the DT B-NP +International NNP I-NP +Duty NNP I-NP +Free NNP I-NP +Confederation NNP I-NP +said VBD B-VP +. . O + +Instead RB B-PP +of IN I-PP +banning VBG B-VP +such JJ B-NP +shopping NN I-NP +, , O +the DT B-NP +confederation NN I-NP +proposed VBN B-VP +amending VBG I-VP +controls NNS B-NP +to TO B-VP +be VB I-VP +sure JJ B-ADJP +the DT B-NP +privilege NN I-NP +is VBZ B-VP +n't RB I-VP +abused VBN I-VP +... : O +. . O + +British JJ B-NP +and CC I-NP +Argentine JJ I-NP +diplomats NNS I-NP +opened VBD B-VP +talks NNS B-NP +in IN B-PP +Madrid NNP B-NP +aimed VBD B-VP +at IN B-PP +restoring VBG B-VP +ties NNS B-NP +severed VBN B-VP +because IN B-PP +of IN I-PP +their PRP$ B-NP +1982 CD I-NP +war NN I-NP +over IN B-PP +the DT B-NP +Falkland NNP I-NP +Islands NNPS I-NP +. . O + +Britain NNP B-NP +'s POS B-NP +U.N. NNP I-NP +representative NN I-NP +and CC I-NP +delegation NN I-NP +head NN I-NP +Crispin NNP I-NP +Tickell NNP I-NP +called VBD B-VP +the DT B-NP +first JJ I-NP +meeting NN I-NP +`` `` O +good JJ B-ADJP +, , I-ADJP +interesting JJ I-ADJP +and CC I-ADJP +businesslike JJ I-ADJP +. . O + +Polaroid NNP B-NP +Corp. NNP I-NP +, , O +benefiting VBG B-VP +from IN B-PP +staff-reduction NN B-NP +savings NNS I-NP +, , O +reported VBD B-VP +a DT B-NP +strong JJ I-NP +gain NN I-NP +in IN B-PP +third-quarter JJ B-NP +operating NN I-NP +results NNS I-NP +and CC O +net JJ B-NP +income NN I-NP +of IN B-PP +$ $ B-NP +29.9 CD I-NP +million CD I-NP +, , O +or CC O +40 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +after IN B-PP +preferred-stock JJ B-NP +requirements NNS I-NP +. . O + +Analysts NNS B-NP +said VBD B-VP +the DT B-NP +numbers NNS I-NP +were VBD B-VP +better JJR B-ADJP +than IN B-PP +expectations NNS B-NP +, , O +partly RB B-ADVP +because IN B-PP +of IN I-PP +strong JJ B-NP +profit NN I-NP +margins NNS I-NP +and CC O +a DT B-NP +positive JJ I-NP +foreign-currency NN I-NP +translation NN I-NP +. . O + +However RB B-ADVP +, , O +they PRP B-NP +said VBD B-VP +the DT B-NP +company NN I-NP +'s POS B-NP +flat JJ I-NP +revenue NN I-NP +was VBD B-VP +a DT B-NP +disappointment NN I-NP +, , O +and CC O +an DT B-NP +indication NN I-NP +that IN B-SBAR +sales NNS B-NP +of IN B-PP +Polaroid NNP B-NP +'s POS B-NP +new JJ I-NP +conventional JJ I-NP +film NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +have VBP B-VP +been VBN I-VP +sluggish JJ B-ADJP +. . O + +Revenue NN B-NP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +was VBD B-VP +$ $ B-NP +437.7 CD I-NP +million CD I-NP +, , O +almost RB B-ADJP +unchanged JJ I-ADJP +from IN B-PP +$ $ B-NP +436.3 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Polaroid NNP B-NP +reported VBD B-VP +operating VBG B-NP +profit NN I-NP +before IN B-PP +taxes NNS B-NP +and CC O +interest NN B-NP +costs NNS I-NP +of IN B-PP +$ $ B-NP +63.1 CD I-NP +million CD I-NP +for IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +, , O +more JJR B-NP +than IN I-NP +double VB I-NP +the DT I-NP +year-before JJ I-NP +$ $ I-NP +24 CD I-NP +million CD I-NP +. . O + +Charges NNS B-NP +for IN B-PP +staff NN B-NP +cuts NNS I-NP +and CC O +other JJ B-NP +restructuring NN I-NP +produced VBD B-VP +a DT B-NP +net JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +54.1 CD I-NP +million CD I-NP +, , O +or CC O +77 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +1988 CD B-NP +'s POS B-NP +third JJ I-NP +quarter NN I-NP +. . O + +`` `` O +I PRP B-NP +'m VBP B-VP +somewhat RB B-ADJP +skeptical JJ I-ADJP +about IN B-PP +the DT B-NP +underlying VBG I-NP +demand NN I-NP +'' '' O +for IN B-PP +Polaroid NNP B-NP +products NNS I-NP +, , O +said VBD B-VP +Michael NNP B-NP +Ellmann NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +with IN B-PP +Wertheim NNP B-NP +Schroder NNP I-NP +& CC I-NP +Co NNP I-NP +. . O + +`` `` O +If IN B-SBAR +you PRP B-NP +believe VBP B-VP +that IN B-SBAR +a DT B-NP +good JJ I-NP +performance NN I-NP +next JJ B-NP +year NN I-NP +is VBZ B-VP +contingent JJ B-ADJP +on IN B-PP +an DT B-NP +acceleration NN I-NP +of IN B-PP +revenue NN B-NP +, , O +there EX B-NP +is VBZ B-VP +n't RB O +a DT B-NP +lot NN I-NP +here RB B-ADVP +to TO B-VP +base VB I-VP +optimism NN B-NP +on IN B-PP +. . O +'' '' O + +Alex NNP B-NP +Henderson NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +with IN B-PP +Prudential-Bache NNP B-NP +, , O +says VBZ B-VP +Polaroid NNP B-NP +officials NNS I-NP +told VBN B-VP +him PRP B-NP +yesterday NN B-NP +that IN B-SBAR +U.S. NNP B-NP +sales NNS I-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +new JJ I-NP +conventional JJ I-NP +film NN I-NP +product NN I-NP +, , O +introduced VBN B-VP +in IN B-PP +the DT B-NP +second JJ I-NP +quarter NN I-NP +, , O +have VBP B-VP +been VBN I-VP +`` `` B-ADJP +disappointing JJ I-ADJP +'' '' O +after IN B-PP +a DT B-NP +promising JJ I-NP +start NN I-NP +. . O + +Sam NNP B-NP +Yanes NNP I-NP +, , O +a DT B-NP +Polaroid NNP I-NP +spokesman NN I-NP +, , O +said VBD B-VP +`` `` O +I PRP B-NP +do VBP B-VP +n't RB I-VP +know VB I-VP +about IN B-PP +disappointing JJ O +, , O +'' '' O +but CC O +added VBD B-VP +that IN B-SBAR +the DT B-NP +company NN I-NP +has VBZ B-VP +n't RB I-VP +been VBN I-VP +able JJ B-ADJP +to TO B-VP +get VB I-VP +the DT B-NP +product NN I-NP +on IN B-PP +the DT B-NP +shelves NNS I-NP +of IN B-PP +some DT B-NP +mass-merchandise NN I-NP +, , I-NP +discount NN I-NP +retailers NNS I-NP +that IN B-NP +it PRP B-NP +had VBD B-VP +hoped VBN I-VP +would MD B-VP +be VB I-VP +carrying VBG I-VP +the DT B-NP +product NN I-NP +already RB B-ADVP +. . O + +Mr. NNP B-NP +Yanes NNP I-NP +said VBD B-VP +the DT B-NP +film NN I-NP +, , O +One CD B-NP +Film NNP I-NP +, , O +is VBZ B-VP +currently RB I-VP +carried VBN I-VP +at IN B-PP +about IN B-NP +15,000 CD I-NP +retail JJ I-NP +outlets NNS I-NP +, , O +including VBG B-PP +drugstores NNS B-NP +and CC I-NP +supermarkets NNS I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +Polaroid NNP B-NP +reported VBD B-VP +earnings NNS B-NP +of IN B-PP +$ $ B-NP +98.5 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.27 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Last JJ B-NP +year NN I-NP +, , O +the DT B-NP +company NN I-NP +had VBD B-VP +a DT B-NP +nine-month JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +15.1 CD I-NP +million CD I-NP +, , O +or CC O +23 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +, , O +Polaroid NNP B-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +47 CD I-NP +, , O +up IN B-ADVP +$ $ B-NP +1.125 CD I-NP +. . O + +Why WRB B-ADVP +is VBZ O +the DT B-NP +stock NN I-NP +market NN I-NP +suddenly RB B-ADVP +so RB B-ADJP +volatile JJ I-ADJP +? . O + +Yesterday NN B-NP +, , O +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +did VBD B-VP +a DT B-NP +now RB I-NP +familiar JJ I-NP +dance NN I-NP +: : O +It PRP B-NP +plunged VBD B-VP +60.25 CD B-NP +points NNS I-NP +before IN B-PP +lunch NN B-NP +, , O +with IN B-PP +most RBS B-NP +of IN B-PP +the DT B-NP +drop NN I-NP +occurring VBG B-VP +in IN B-PP +25 CD B-NP +minutes NNS I-NP +. . O + +Then RB B-ADVP +, , O +it PRP B-NP +rebounded VBD B-VP +to TO B-VP +finish VB I-VP +down RB B-ADVP +only RB B-NP +18.65 CD I-NP +points NNS I-NP +. . O + +And CC O +those DT B-NP +swings NNS I-NP +paled VBD B-VP +beside IN B-PP +Friday NNP B-NP +'s POS B-NP +190.58-point JJ I-NP +plunge NN I-NP +and CC O +Monday NNP B-NP +'s POS B-NP +88.12-point JJ I-NP +recovery NN I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +madness NN B-NP +-- : O +that IN B-SBAR +in IN B-PP +an DT B-NP +hour NN I-NP +you PRP B-NP +can MD B-VP +whack VB I-VP +off IN B-PRT +so RB B-NP +much JJ I-NP +value NN I-NP +, , O +'' '' O +says VBZ B-VP +Stanford NNP B-NP +Calderwood NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +Trinity NNP B-NP +Investment NNP I-NP +Management NNP I-NP +Corp. NNP I-NP +, , O +Boston NNP B-NP +. . O + +And CC O +, , O +apparently RB B-ADVP +, , O +it PRP B-NP +is VBZ B-VP +here RB B-ADVP +to TO B-VP +stay VB I-VP +. . O + +Richard NNP B-NP +Bernstein NNP I-NP +, , O +senior JJ B-NP +quantitative JJ I-NP +analyst NN I-NP +at IN B-PP +Merrill NNP B-NP +Lynch NNP I-NP +& CC I-NP +Co NNP I-NP +, , O +says VBZ B-VP +, , O +`` `` O +My PRP$ B-NP +gut NN I-NP +feel NN I-NP +is VBZ B-VP +that IN B-SBAR +we PRP B-NP +'ll MD B-VP +live VB I-VP +with IN B-PP +those DT B-NP +swings NNS I-NP +for IN B-PP +a DT B-NP +while NN I-NP +. . O +'' '' O + +There EX B-NP +are VBP B-VP +many JJ B-NP +reasons NNS I-NP +for IN B-PP +the DT B-NP +market NN I-NP +'s POS B-NP +jumpiness NN I-NP +: : O +new JJ B-NP +trading NN I-NP +vehicles NNS I-NP +such JJ B-PP +as IN I-PP +stock-index NN B-NP +futures NNS I-NP +and CC O +options NNS B-NP +; : O +computer-driven JJ B-NP +strategies NNS I-NP +like IN B-PP +program NN B-NP +trading NN I-NP +; : O +and CC O +crowd NN B-NP +psychology NN I-NP +. . O + +But CC O +most RBS B-NP +are VBP B-VP +linked VBN I-VP +by IN B-PP +a DT B-NP +single JJ I-NP +theme NN I-NP +: : O +liquidity NN B-NP +-- : O +the DT B-NP +ability NN I-NP +to TO B-VP +get VB I-VP +in IN B-PP +and CC B-PP +out IN B-PP +of IN B-PP +the DT B-NP +market NN I-NP +quickly RB B-ADVP +. . O + +Prices NNS B-NP +are VBP B-VP +moving VBG I-VP +up IN B-ADVP +and CC I-ADVP +down RB I-ADVP +so RB B-ADVP +fast RB I-ADVP +because IN B-SBAR +investors NNS B-NP +are VBP B-VP +employing VBG I-VP +ways NNS B-NP +to TO B-VP +turn VB I-VP +over IN B-PRT +shares NNS B-NP +at IN B-PP +ever-faster JJ B-NP +rates NNS I-NP +and CC O +increasingly RB B-VP +acting VBG I-VP +in IN B-PP +concert NN B-NP +. . O + +`` `` O +Institutions NNS B-NP +are VBP B-VP +herding VBG I-VP +animals NNS B-NP +, , O +'' '' O +says VBZ B-VP +Peter NNP B-NP +Anderson NNP I-NP +, , O +who WP B-NP +heads VBZ B-VP +the DT B-NP +pension-fund NN I-NP +management NN I-NP +arm NN I-NP +of IN B-PP +IDS NNP B-NP +Financial NNP I-NP +Services NNP I-NP +Inc NNP I-NP +. . O + +`` `` O +We PRP B-NP +watch VBP B-VP +the DT B-NP +same JJ I-NP +indicators NNS I-NP +and CC O +listen VB B-VP +to TO B-PP +the DT B-NP +same JJ I-NP +prognosticators NNS I-NP +. . O + +Like IN B-PP +lemmings NNS B-NP +, , O +we PRP B-NP +tend VBP B-VP +to TO I-VP +move VB I-VP +in IN B-PP +the DT B-NP +same JJ I-NP +direction NN I-NP +at IN B-PP +same JJ B-NP +time NN I-NP +. . O +'' '' O + +And CC O +that IN B-NP +, , O +naturally RB B-ADVP +, , O +exacerbates VBZ B-VP +price NN B-NP +movements NNS I-NP +. . O + +Institutions NNS B-NP +-- : O +who WP B-NP +now JJ B-ADVP +account NN B-VP +for IN B-PP +most RBS B-NP +trading NN I-NP +-- : O +count NN B-VP +on IN B-PP +being VBG B-VP +able JJ B-ADJP +to TO B-VP +buy VB B-NP +and CC I-NP +sell VB I-NP +big JJ B-NP +blocks NNS I-NP +of IN B-PP +stock NN B-NP +at IN B-PP +an DT B-NP +eye-blink NN I-NP +. . O + +But CC O +when WRB B-ADVP +they PRP B-NP +discover VBP B-VP +that IN B-SBAR +markets NNS B-NP +are VBP B-VP +n't RB O +always RB B-ADVP +as RB B-ADJP +liquid JJ I-ADJP +as IN B-SBAR +they PRP B-NP +supposed VBD B-VP +-- : O +markets NNS B-NP +jump VBP B-VP +. . O + +On IN B-PP +Monday NNP B-NP +, , O +for IN B-PP +instance NN B-NP +, , O +Howard NNP B-NP +Ward NNP I-NP +, , O +a DT B-NP +principal NN I-NP +at IN B-PP +Scudder NNP B-NP +, , I-NP +Stevens NNP I-NP +& CC I-NP +Clark NNP I-NP +, , O +found VBD B-VP +that IN B-SBAR +`` `` O +you PRP B-NP +could MD B-VP +n't RB I-VP +buy VB I-VP +blue-chips NNS B-NP +at IN B-PP +quoted VBN B-NP +prices NNS I-NP +without IN B-PP +paying VBG B-VP +up IN B-PRT +. . O +'' '' O + +And CC O +when WRB B-ADVP +many JJ B-NP +firms NNS I-NP +had VBD B-VP +to TO I-VP +`` `` O +pay VB B-VP +up IN B-PRT +, , O +'' '' O +Monday NNP B-NP +'s POS B-NP +sudden JJ I-NP +rally NN I-NP +was VBD B-VP +sparked VBN I-VP +. . O + +Trading NN B-NP +in IN B-PP +futures NNS B-NP +and CC I-NP +options NNS I-NP +, , O +some DT B-NP +people NNS I-NP +believe VBP B-VP +, , O +can MD B-VP +add VB I-VP +to TO B-PP +volatility NN B-NP +. . O + +Investors NNS B-NP +believe VBP B-VP +they PRP B-NP +can MD B-VP +can MD I-VP +rely VB I-VP +on IN B-PP +such JJ B-NP +derivative JJ I-NP +securities NNS I-NP +to TO B-VP +get VB I-VP +in IN B-PP +and CC B-PP +out IN B-PP +of IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +without IN B-PP +actually RB B-ADVP +selling VBG B-VP +any DT B-NP +stocks NNS I-NP +; : O +that DT B-NP +is VBZ B-VP +, , O +a DT B-NP +way NN I-NP +of IN B-PP +staying VBG B-VP +liquid JJ B-ADJP +even RB B-ADVP +when WRB B-ADVP +they PRP B-NP +own JJ B-VP +stocks NNS B-NP +. . O + +These DT B-NP +and CC I-NP +other JJ I-NP +modern JJ I-NP +trading NN I-NP +methods NNS I-NP +`` `` O +tend VBP B-VP +to TO I-VP +promote VB I-VP +dramatic JJ B-NP +shifts NNS I-NP +in IN B-PP +assets NNS B-NP +, , O +'' '' O +says VBZ B-VP +George NNP B-NP +Douglas NNP I-NP +, , O +first JJ B-NP +vice NN I-NP +president NN I-NP +at IN B-PP +Drexel NNP B-NP +Burnham NNP I-NP +Lambert NNP I-NP +Inc NNP I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +the DT B-NP +idea NN I-NP +that IN B-SBAR +what WP B-NP +goes VBZ B-VP +in IN B-PP +easy JJ B-ADVP +can MD B-VP +come VB I-VP +out IN B-PP +easy JJ B-ADVP +'' '' O +-- : O +so RB B-SBAR +that IN I-SBAR +bouts NNS B-NP +of IN B-PP +higher JJR B-NP +volatility NN I-NP +get VB B-VP +built VBN I-VP +into IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +. . O + +One CD B-NP +new JJ I-NP +investment NN I-NP +style NN I-NP +called VBN B-VP +`` `` O +asset NN B-NP +allocation NN I-NP +'' '' O +shifts NNS B-VP +portfolio NN B-NP +weightings NNS I-NP +between IN B-PP +stocks NNS B-NP +, , O +bonds NNS B-NP +and CC O +cash NN B-NP +when WRB B-ADVP +computer NN B-NP +models NNS I-NP +say VBP B-VP +one CD B-NP +is VBZ B-VP +more RBR B-ADJP +attractive JJ I-ADJP +. . O + +For IN B-PP +instance NN B-NP +, , O +First NNP B-NP +Quadrant NNP I-NP +Corp. NNP I-NP +, , O +an DT B-NP +asset NN I-NP +allocator NN I-NP +based VBN B-VP +in IN B-PP +Morristown NNP B-NP +, , O +N.J. NNP B-NP +, , O +said VBD B-VP +it PRP B-NP +quickly RB B-VP +boosted VBD I-VP +stock NN B-NP +positions NNS I-NP +in IN B-PP +its PRP$ B-NP +`` `` I-NP +aggressive JJ I-NP +'' '' I-NP +accounts NNS I-NP +to TO B-PP +75 CD B-NP +% NN I-NP +from IN B-PP +55 NN B-NP +% NN I-NP +to TO B-VP +take VB I-VP +advantage NN B-NP +of IN B-PP +plunging VBG B-NP +prices NNS I-NP +Friday NNP B-NP +. . O + +It PRP B-NP +added VBD B-VP +another DT B-NP +5 NN I-NP +% NN I-NP +Monday NNP B-NP +before IN B-SBAR +stocks NNS B-NP +rallied VBD B-VP +. . O + +When WRB B-ADVP +they PRP B-NP +did VBD B-VP +, , O +the DT B-NP +firm NN I-NP +reduced VBD B-VP +those DT B-NP +stock NN I-NP +holdings NNS I-NP +to TO B-PP +about IN B-NP +70 CD I-NP +% NN I-NP +. . O + +A DT B-NP +classic JJ I-NP +example NN I-NP +of IN B-PP +institutions NNS B-NP +' POS B-NP +hunger NN I-NP +for IN B-PP +liquidity NN B-NP +is VBZ B-VP +portfolio NN B-NP +insurance NN I-NP +, , O +now RB B-ADVP +widely RB B-ADJP +discredited VBN I-ADJP +. . O + +Before IN B-PP +the DT B-NP +1987 CD I-NP +crash NN I-NP +, , O +an DT B-NP +estimated VBN I-NP +$ $ I-NP +60 CD I-NP +billion CD I-NP +in IN B-PP +institutional JJ B-NP +money NN I-NP +was VBD B-VP +managed VBN I-VP +under IN B-PP +this DT B-NP +hedging VBG I-NP +technique NN I-NP +. . O + +The DT B-NP +idea NN I-NP +was VBD B-VP +to TO B-VP +`` `` O +insure VB B-VP +'' '' O +the DT B-NP +value NN I-NP +of IN B-PP +a DT B-NP +portfolio NN I-NP +by IN B-PP +selling VBG B-VP +futures NNS B-NP +when WRB B-ADVP +stock NN B-NP +prices NNS I-NP +dropped VBD B-VP +-- : O +eliminating VBG B-VP +the DT B-NP +need NN I-NP +to TO B-VP +sell VB I-VP +the DT B-NP +stocks NNS I-NP +themselves PRP I-NP +. . O + +But CC O +in IN B-PP +October NNP B-NP +1987 CD I-NP +, , O +when WRB B-ADVP +portfolio NN B-NP +insurers NNS I-NP +rushed VBD B-VP +to TO I-VP +sell VB I-VP +at IN B-PP +the DT B-NP +same JJ I-NP +time NN I-NP +, , O +they PRP B-NP +overwhelmed VBD B-VP +both DT B-NP +the DT I-NP +stock NN I-NP +and CC I-NP +futures NNS I-NP +markets NNS I-NP +. . O + +Yet RB B-ADVP +even JJ B-ADVP +today NN I-ADVP +, , O +institutions NNS B-NP +are VBP B-VP +quietly RB I-VP +practicing VBG I-VP +forms NNS B-NP +of IN B-PP +portfolio NN B-NP +insurance NN I-NP +by IN B-PP +nervously RB B-VP +rushing VBG I-VP +to TO B-ADVP +and CC I-ADVP +fro RB I-ADVP +in IN B-PP +the DT B-NP +markets NNS I-NP +. . O + +Others NNS B-NP +are VBP B-VP +doing VBG I-VP +`` `` O +index NN B-NP +arbitrage NN I-NP +'' '' O +a DT B-NP +strategy NN I-NP +of IN B-PP +taking VBG B-VP +advantage NN B-NP +of IN B-PP +price NN B-NP +discrepancies NNS I-NP +between IN B-PP +stocks NNS B-NP +and CC O +futures NNS B-NP +. . O + +Unlike IN B-PP +traditional JJ B-NP +buy-and-hold JJ I-NP +strategies NNS I-NP +, , O +all DT B-NP +of IN B-PP +the DT B-NP +above IN I-NP +require VB B-VP +that IN B-SBAR +market NN B-NP +makers NNS I-NP +be VBP B-VP +on IN B-PP +hand NN B-NP +to TO B-VP +provide VB I-VP +liquidity NN B-NP +by IN B-PP +buying VBG B-VP +and CC I-VP +selling VBG I-VP +stocks NNS B-NP +in IN B-PP +a DT B-NP +crunch NN I-NP +. . O + +But CC O +institutions NNS B-NP +say VBP B-VP +Wall NNP B-NP +Street NNP I-NP +brokerage NN I-NP +firms NNS I-NP +are VBP B-VP +less RBR B-ADJP +willing JJ I-ADJP +to TO B-VP +make VB I-VP +markets NNS B-NP +. . O + +Brokers NNS B-NP +do VBP B-VP +n't RB I-VP +deny VB I-VP +that DT B-NP +. . O + +Wall NNP B-NP +Street NNP I-NP +traders NNS I-NP +say VBP B-VP +that IN B-SBAR +, , O +with IN B-SBAR +institutional JJ B-NP +brokerage NN I-NP +commissions NNS I-NP +far RB B-ADJP +lower JJR I-ADJP +than IN B-PP +in IN B-PP +the DT B-NP +1970s NNS I-NP +, , O +securities NNS B-NP +firms NNS I-NP +ca MD B-VP +n't RB I-VP +afford VB I-VP +to TO I-VP +take VB I-VP +the DT B-NP +risk NN I-NP +of IN B-PP +buying VBG B-VP +too RB B-NP +much JJ I-NP +stock NN I-NP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +everyone NN B-NP +'s VBZ B-VP +a DT B-ADJP +little RB I-ADJP +more RBR I-ADJP +leery JJ I-ADJP +, , O +'' '' O +says VBZ B-VP +Jack NNP B-NP +Baker NNP I-NP +, , O +head NN B-NP +of IN B-PP +equity NN B-NP +trading NN I-NP +at IN B-PP +Shearon NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +Inc NNP I-NP +. . O + +`` `` O +The DT B-NP +institutions NNS I-NP +have VBP B-VP +driven VBN I-VP +-LRB- ( O +commission NN O +-RRB- ) O +rates NNS B-NP +down RB B-ADVP +to TO B-PP +the DT B-NP +point NN I-NP +where WRB B-ADVP +it PRP B-NP +makes VBZ B-VP +no DT B-NP +sense NN I-NP +to TO B-VP +commit VB I-VP +capital NN B-NP +, , O +'' '' O +says VBZ B-VP +Tom NNP B-NP +Gallagher NNP I-NP +, , O +senior JJ B-NP +executive JJ I-NP +vice NN I-NP +president NN I-NP +in IN B-PP +charge NN B-NP +of IN B-PP +institutional JJ B-NP +trading NN I-NP +at IN B-PP +Oppenheimer NNP B-NP +& CC I-NP +Co NNP I-NP +. . O + +`` `` O +Why WRB B-ADVP +should MD O +I PRP B-NP +risk VB B-VP +money NN B-NP +for IN B-PP +a DT B-NP +guy NN I-NP +for IN B-NP +who WP B-NP +'s VBZ B-VP +paying VBG I-VP +me PRP B-NP +five CD B-NP +cents NNS I-NP +a DT B-NP +dance NN I-NP +? . O + +All DT B-NP +you PRP B-NP +get VBP B-VP +is VBZ B-VP +risk NN B-NP +. . O +'' '' O + +Lack NN B-NP +of IN B-PP +liquidity NN B-NP +can MD B-VP +also RB I-VP +result VB I-VP +from IN B-PP +exchange NN B-NP +`` `` I-NP +reforms NNS I-NP +. . O +'' '' O + +Many JJ B-NP +traders NNS I-NP +say VBP B-VP +that IN B-SBAR +`` `` O +circuit NN B-NP +breakers NNS I-NP +'' '' O +put VB B-VP +in IN B-PP +place NN B-NP +to TO B-VP +damp VB I-VP +volatility NN B-NP +after IN B-PP +the DT B-NP +1987 CD I-NP +crash NN I-NP +actually RB B-VP +added VBD I-VP +to TO B-PP +volatility NN B-NP +when WRB B-ADVP +the DT B-NP +stock NN I-NP +market NN I-NP +plunged VBD B-VP +Friday NNP B-NP +. . O + +The DT B-NP +circuit NN I-NP +breakers NNS I-NP +caused VBD B-VP +a DT B-NP +30-minute JJ I-NP +shutdown NN I-NP +in IN B-PP +trading NN B-NP +in IN B-PP +Standard NNP B-NP +& CC I-NP +Poor NNP I-NP +'s POS B-NP +500-stock JJ I-NP +index NN I-NP +futures NNS I-NP +contract VBP I-NP +as IN B-SBAR +the DT B-NP +markets NNS I-NP +were VBD B-VP +falling VBG I-VP +. . O + +`` `` O +With IN B-PP +the DT B-NP +futures-trading JJ I-NP +halt NN I-NP +, , O +you PRP B-NP +could MD B-VP +only RB I-VP +sell VB I-VP +stocks NNS B-NP +'' '' O +to TO B-VP +cut VB I-VP +exposure NN B-NP +to TO B-PP +the DT B-NP +market NN I-NP +, , O +says VBZ B-VP +a DT B-NP +money NN I-NP +manager NN I-NP +. . O + +`` `` O +It PRP B-NP +was VBD B-VP +scary JJ B-ADJP +to TO B-PP +people NNS B-NP +thinking VBG B-VP +that IN B-SBAR +they PRP B-NP +could MD B-VP +n't RB I-VP +get VB I-VP +their PRP$ B-NP +trades NNS I-NP +off IN B-PRT +. . O +'' '' O + +`` `` O +It PRP B-NP +was VBD B-VP +like IN B-SBAR +they PRP B-NP +put VBP B-VP +you PRP B-NP +in IN B-PP +a DT B-NP +room NN I-NP +with IN B-PP +a DT B-NP +gorilla NN I-NP +and CC O +told VBD B-VP +you PRP B-NP +there EX B-NP +were VBD B-VP +three CD B-NP +doors NNS I-NP +to TO B-VP +exit VB I-VP +, , O +'' '' O +said VBD B-VP +one CD B-NP +Chicago-based JJ I-NP +futures NNS I-NP +trader NN I-NP +. . O + +`` `` O +Then RB B-ADVP +they PRP B-NP +said VBD B-VP +, , O +` `` O +By IN B-PP +the DT B-NP +way NN I-NP +, , O +two CD B-NP +of IN B-PP +the DT B-NP +doors NNS I-NP +are VBP B-VP +locked VBN B-ADJP +. . O +' '' O +'' '' O + +The DT B-NP +takeover NN I-NP +mania NN I-NP +also RB B-ADVP +adds VBZ B-VP +to TO B-PP +volatility NN B-NP +. . O + +UAL NNP B-NP +Corp. NNP I-NP +is VBZ B-VP +a DT B-NP +good JJ I-NP +example NN I-NP +. . O + +Valued VBN B-VP +as IN B-PP +a DT B-NP +buy-out NN I-NP +target NN I-NP +, , O +the DT B-NP +airline NN I-NP +stock NN I-NP +was VBD B-VP +trading VBG I-VP +at IN B-PP +nearly RB B-NP +$ $ I-NP +280 CD I-NP +a DT B-NP +share NN I-NP +. . O + +When WRB B-ADVP +the DT B-NP +deal NN I-NP +ran VBD B-VP +into IN B-PP +trouble NN B-NP +, , O +the DT B-NP +stock NN I-NP +tumbled VBD B-VP +; : O +it PRP B-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +198 CD I-NP +yesterday NN B-NP +. . O + +Presumably RB B-ADVP +, , O +UAL NNP B-NP +is VBZ B-VP +now JJ I-VP +trading NN I-VP +closer JJR B-ADVP +to TO B-PP +its PRP$ B-NP +value NN I-NP +based VBN B-VP +on IN B-PP +earnings NNS B-NP +. . O + +By IN B-PP +contrast NN B-NP +, , O +traditional JJ B-NP +buy-and-hold JJ I-NP +investors NNS I-NP +are VBP B-VP +unlikely JJ B-ADJP +to TO B-VP +generate VB I-VP +sudden JJ B-NP +price NN I-NP +moves NNS I-NP +. . O + +Scott NNP B-NP +Black NNP I-NP +, , O +a DT B-NP +value-oriented JJ I-NP +money NN I-NP +manager NN I-NP +who WP B-NP +heads VBZ B-VP +Delphi NNP B-NP +Management NNP I-NP +Inc. NNP I-NP +, , O +points VBZ B-VP +out RP B-PRT +that IN B-SBAR +for IN B-PP +those DT B-NP +who WP B-NP +invest VBP B-VP +on IN B-PP +fundamentals NNS B-NP +, , O +`` `` O +the DT B-NP +value NN I-NP +of IN B-PP +a DT B-NP +stock NN I-NP +from IN B-PP +day NN B-NP +to TO B-PP +day NN B-NP +does VBZ B-VP +n't RB I-VP +change VB I-VP +all DT B-ADVP +that NN I-ADVP +much NN I-ADVP +. . O +'' '' O + +Some DT B-NP +experts NNS I-NP +say VBP B-VP +markets NNS B-NP +are VBP B-VP +n't RB O +as RB B-ADJP +volatile JJ I-ADJP +as IN B-SBAR +widely RB B-VP +assumed VBN I-VP +. . O + +Hans NNP B-NP +Stoll NNP I-NP +, , O +finance NN B-NP +professor NN I-NP +at IN B-PP +Vanderbilt NNP B-NP +University NNP I-NP +, , O +says VBZ B-VP +the DT B-NP +current JJ I-NP +volatility NN I-NP +in IN B-PP +U.S. NNP B-NP +markets NNS I-NP +pales VBZ B-VP +in IN B-PP +comparison NN B-NP +to TO B-PP +the DT B-NP +1930s CD I-NP +, , O +decades NNS B-NP +before IN B-SBAR +derivative JJ B-NP +instruments NNS I-NP +such JJ B-PP +as IN I-PP +options NNS B-NP +and CC I-NP +futures NNS I-NP +were VBD B-VP +introduced VBN I-VP +. . O + +`` `` O +I PRP B-NP +just RB B-ADVP +ca MD B-VP +n't RB I-VP +believe VB I-VP +that IN B-SBAR +the DT B-NP +innovations NNS I-NP +in IN B-PP +the DT B-NP +financial JJ I-NP +market NN I-NP +are VBP B-VP +causing VBG I-VP +any DT B-NP +of IN B-PP +this DT B-NP +volatility NN I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +And CC O +Robert NNP B-NP +D. NNP I-NP +Arnott NNP I-NP +, , O +president NN B-NP +of IN B-PP +asset NN B-NP +allocator NN I-NP +First NNP I-NP +Quadrant NNP I-NP +, , O +notes VBZ B-VP +that IN B-SBAR +before IN B-PP +Friday NNP B-NP +'s POS B-NP +tailspin NN I-NP +, , O +daily JJ B-NP +volatility NN I-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +in IN B-PP +recent JJ B-NP +weeks NNS I-NP +had VBD B-VP +reached VBN I-VP +`` `` O +historically RB B-NP +low JJ I-NP +levels NNS I-NP +. . O +'' '' O + +Some DT B-NP +people NNS I-NP +tend VBP B-VP +to TO I-VP +ignore VB I-VP +that IN B-SBAR +a DT B-NP +50-point JJ I-NP +move NN I-NP +is VBZ B-VP +less JJR B-ADJP +in IN B-PP +percentage NN B-NP +terms NNS I-NP +than IN B-SBAR +it PRP B-NP +was VBD B-VP +when WRB B-ADVP +the DT B-NP +stock NN I-NP +market NN I-NP +was VBD B-VP +lower JJR B-ADJP +. . O + +John NNP B-NP +J. NNP I-NP +Phelan NNP I-NP +Jr. NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +the DT B-NP +Big NNP I-NP +Board NNP I-NP +, , O +asserts VBZ B-VP +that IN B-SBAR +`` `` O +1988 CD B-NP +and CC I-NP +1989 CD I-NP +have VBP B-VP +been VBN I-VP +two CD B-NP +of IN B-PP +the DT B-NP +least JJS I-NP +volatile JJ I-NP +years NNS I-NP +in IN B-PP +the DT B-NP +last JJ I-NP +30 CD I-NP +or CC I-NP +40 CD I-NP +years NNS I-NP +. . O +'' '' O + +But CC O +the DT B-NP +low JJ I-NP +average JJ I-NP +volatility NN I-NP +Mr. NNP B-NP +Phelan NNP I-NP +is VBZ B-VP +talking VBG I-VP +about IN B-PP +is VBZ B-VP +n't RB O +any DT B-NP +comfort NN I-NP +in IN B-PP +a DT B-NP +period NN I-NP +of IN B-PP +rapid JJ B-NP +stock-market NN I-NP +moves NNS I-NP +like IN B-PP +the DT B-NP +past JJ I-NP +week NN I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +Sanford NNP B-NP +Grossman NNP I-NP +, , O +a DT B-NP +Wharton NNP I-NP +School NNP I-NP +finance NN I-NP +professor NN I-NP +, , O +says VBZ B-VP +volatile JJ B-NP +jumps NNS I-NP +in IN B-PP +stock NN B-NP +prices NNS I-NP +will MD B-VP +continue VB I-VP +as RB B-ADVP +long RB I-ADVP +as IN B-SBAR +liquidity NN B-NP +falls VBZ B-VP +short NN B-ADJP +of IN B-PP +the DT B-NP +voracious JJ I-NP +demands NNS I-NP +of IN B-PP +institutions NNS B-NP +`` `` O +who WP B-NP +can MD B-VP +go VB I-VP +out IN B-ADVP +and CC O +say VBP B-VP +` `` O +I PRP B-NP +have VBP B-VP +a DT B-NP +billion CD I-NP +dollars NNS I-NP +of IN B-PP +stocks NNS B-NP +to TO B-VP +sell VB I-VP +. . O +' '' O +'' '' O + +Some DT B-NP +people NNS I-NP +think VBP B-VP +the DT B-NP +search NN I-NP +for IN B-PP +liquidity NN B-NP +is VBZ B-VP +fruitless JJ B-ADJP +. . O + +In IN B-PP +1936 CD B-NP +, , O +John NNP B-NP +Maynard NNP I-NP +Keynes NNP I-NP +wrote VBD B-VP +that IN B-SBAR +`` `` O +of IN B-PP +the DT B-NP +maxims NNS I-NP +of IN B-PP +orthodox JJ B-NP +finance NN I-NP +none NN B-NP +, , O +surely RB B-ADVP +, , O +is VBZ B-VP +more RBR B-ADJP +antisocial JJ I-ADJP +than IN B-PP +the DT B-NP +fetish NN I-NP +of IN B-PP +liquidity NN B-NP +. . O +'' '' O + +It PRP B-NP +leads VBZ B-VP +investors NNS B-NP +to TO B-VP +focus VB I-VP +on IN B-PP +short-term JJ B-NP +price NN I-NP +movements NNS I-NP +-- : O +`` `` O +a DT B-NP +game NN I-NP +of IN B-PP +musical JJ B-NP +chairs NNS I-NP +, , O +'' '' O +he PRP B-NP +called VBD B-VP +it PRP B-NP +-- : O +rather RB B-CONJP +than IN I-CONJP +on IN B-PP +long-term JJ B-NP +fundamental JJ I-NP +valuation NN I-NP +. . O + +James NNP B-NP +A. NNP I-NP +White NNP I-NP +contributed VBD B-VP +to TO B-PP +this DT B-NP +article NN I-NP +. . O + +The DT B-NP +National NNP I-NP +Aeronautics NNP I-NP +and CC I-NP +Space NNP I-NP +Administration NNP I-NP +said VBD B-VP +a DT B-NP +computer NN I-NP +virus NN I-NP +has VBZ B-VP +infected VBN I-VP +one CD B-NP +of IN B-PP +its PRP$ B-NP +networks NNS I-NP +and CC O +is VBZ B-VP +spreading VBG I-VP +anti-nuclear JJ B-NP +messages NNS I-NP +related VBN B-VP +to TO B-PP +its PRP$ B-NP +Galileo NNP I-NP +space NN I-NP +probe NN I-NP +, , O +which WDT B-NP +is VBZ B-VP +to TO I-VP +be VB I-VP +launched VBN I-VP +today NN B-NP +. . O + +Charles NNP B-NP +Redmond NNP I-NP +, , O +a DT B-NP +NASA NNP I-NP +spokesman NN I-NP +, , O +said VBD B-VP +the DT B-NP +agency NN I-NP +discovered VBD B-VP +the DT B-NP +virus NN I-NP +on IN B-PP +Monday NNP B-NP +on IN B-PP +the DT B-NP +collection NN I-NP +of IN B-PP +computer NN B-NP +networks NNS I-NP +collectively RB B-VP +called VBN I-VP +Internet NNP B-NP +and CC O +expected VBN B-VP +100 CD B-NP +university NN I-NP +centers NNS I-NP +to TO B-VP +be VB I-VP +infected VBN I-VP +by IN B-PP +today NN B-NP +. . O + +Although IN B-SBAR +the DT B-NP +network NN I-NP +is VBZ B-VP +n't RB I-VP +connected VBN I-VP +to TO B-PP +the DT B-NP +computer NN I-NP +systems NNS I-NP +that WDT B-NP +operate VBP B-VP +either DT B-NP +Galileo NNP B-NP +or CC O +the DT B-NP +shuttle NN I-NP +, , O +part NN B-NP +of IN B-PP +the DT B-NP +network NN I-NP +will MD B-VP +carry VB I-VP +analyses NNS B-NP +of IN B-PP +Galileo NNP B-NP +data NNS I-NP +once RB B-SBAR +the DT B-NP +craft NN I-NP +gets VBZ B-VP +spaceborn JJ B-ADJP +. . O + +Mr. NNP B-NP +Redmond NNP I-NP +said VBD B-VP +the DT B-NP +intruder NN I-NP +had VBD B-VP +n't RB I-VP +yet RB I-VP +done VBN I-VP +any DT B-NP +harm NN I-NP +but CC O +the DT B-NP +agency NN I-NP +feared VBD B-VP +`` `` O +garbage NN B-NP +data NNS I-NP +could MD B-VP +be VB I-VP +substituted VBN I-VP +for IN B-PP +real JJ B-NP +data NNS I-NP +. . O +'' '' O + +He PRP B-NP +estimated VBD B-VP +it PRP B-NP +could MD B-VP +take VB I-VP +a DT B-NP +day NN I-NP +for IN B-SBAR +a DT B-NP +computer NN I-NP +security NN I-NP +manager NN I-NP +to TO B-VP +expunge VB I-VP +the DT B-NP +virus NN I-NP +from IN B-PP +a DT B-NP +computer NN I-NP +system NN I-NP +. . O + +The DT B-NP +intruder NN I-NP +, , O +among IN B-PP +the DT B-NP +broadest JJS I-NP +yet RB I-NP +to TO B-VP +hit VB I-VP +a DT B-NP +research NN I-NP +network NN I-NP +, , O +appeared VBD B-VP +to TO I-VP +affect VB I-VP +only RB B-NP +Digital NNP I-NP +Equipment NNP I-NP +Corp. NNP I-NP +hardware NN I-NP +that WDT B-NP +uses VBZ B-VP +Digital NNP B-NP +'s POS B-NP +VAX\/VMS NNP I-NP +operating VBG I-NP +system NN I-NP +. . O + +It PRP B-NP +is VBZ B-VP +unrelated JJ B-ADJP +to TO B-PP +the DT B-NP +much-publicized JJ I-NP +virus NN I-NP +that IN B-NP +last JJ B-NP +year NN I-NP +infected VBN B-VP +Arpanet NNP B-NP +, , O +a DT B-NP +much RB I-NP +larger JJR I-NP +network NN I-NP +used VBN B-VP +by IN B-PP +researchers NNS B-NP +at IN B-PP +universities NNS B-NP +, , O +laboratories NNS B-NP +and CC O +government NN B-NP +agencies NNS I-NP +around IN B-PP +the DT B-NP +world NN I-NP +. . O + +In IN B-PP +the DT B-NP +lingo NN I-NP +of IN B-PP +computer NN B-NP +security NN I-NP +, , O +the DT B-NP +NASA NNP I-NP +intruder NN I-NP +is VBZ B-VP +technically RB B-ADVP +a DT B-NP +computer NN I-NP +worm NN I-NP +, , O +Mr. NNP B-NP +Redmond NNP I-NP +said VBD B-VP +. . O + +A DT B-NP +worm NN I-NP +resides VBZ B-VP +in IN B-PP +the DT B-NP +operating VBG I-NP +system NN I-NP +of IN B-PP +a DT B-NP +computer NN I-NP +and CC O +spreads VBZ B-VP +by IN B-PP +boring JJ B-VP +into IN B-PP +other JJ B-NP +computers NNS I-NP +contacted VBN B-VP +through IN B-PP +networks NNS B-NP +. . O + +The DT B-NP +Galileo NNP I-NP +worm NN I-NP +apparently RB B-ADVP +was VBD B-VP +hatched VBN I-VP +on IN B-PP +a DT B-NP +computer NN I-NP +in IN B-PP +France NNP B-NP +hooked VBD B-VP +up IN B-PRT +to TO B-PP +NASA NNP B-NP +'s POS B-NP +Space NNP I-NP +Physics NNP I-NP +Analysis NNP I-NP +Network NNP I-NP +, , O +Mr. NNP B-NP +Redmond NNP I-NP +said VBD B-VP +. . O + +NASA NNP B-NP +said VBD B-VP +the DT B-NP +Galileo NNP I-NP +worm NN I-NP +had VBD B-VP +n't RB I-VP +affected VBN I-VP +its PRP$ B-NP +computers NNS I-NP +or CC O +the DT B-NP +computers NNS I-NP +of IN B-PP +other JJ B-NP +government NN I-NP +agencies NNS I-NP +because IN B-SBAR +they PRP B-NP +had VBD B-VP +modified VBN I-VP +their PRP$ B-NP +systems NNS I-NP +to TO B-VP +reject VB I-VP +worms NNS B-NP +. . O + +But CC O +Mr. NNP B-NP +Redmond NNP I-NP +said VBD B-VP +the DT B-NP +worm NN I-NP +hit VBD B-VP +universities NNS B-NP +that WDT B-NP +had VBD B-VP +n't RB I-VP +elected VBN I-VP +to TO I-VP +make VB I-VP +the DT B-NP +changes NNS I-NP +. . O + +Michael NNP B-NP +Alexander NNP I-NP +, , O +a DT B-NP +senior JJ I-NP +editor NN I-NP +at IN B-PP +Computerworld NNP B-NP +, , O +a DT B-NP +trade NN I-NP +publication NN I-NP +, , O +said VBD B-VP +he PRP B-NP +was VBD B-VP +told VBN I-VP +that IN B-SBAR +the DT B-NP +worm NN I-NP +gets VBZ B-VP +into IN B-PP +a DT B-NP +computer NN I-NP +center NN I-NP +by IN B-PP +looking VBG B-VP +for IN B-PP +obvious JJ B-NP +passwords NNS I-NP +-- : O +such JJ B-PP +as IN I-PP +ones NNS B-NP +that WDT B-NP +are VBP B-VP +the DT B-NP +same JJ I-NP +as IN B-PP +the DT B-NP +user NN I-NP +'s POS B-NP +name NN I-NP +. . O + +If IN B-SBAR +it PRP B-NP +finds VBZ B-VP +one CD B-NP +and CC O +gets VBZ B-VP +into IN B-PP +the DT B-NP +system NN I-NP +, , O +it PRP B-NP +will MD B-VP +display VB I-VP +a DT B-NP +screen NN I-NP +when WRB B-ADVP +a DT B-NP +user NN I-NP +logs NNS B-VP +on IN B-PRT +that DT B-NP +says VBZ B-VP +, , O +`` `` O +Worms NNPS B-NP +Against IN O +Nuclear NNP B-NP +Killers NNPS I-NP +... : O +. . O + +You PRP B-NP +talk VBP B-VP +of IN B-PP +times NNS B-NP +of IN B-PP +peace NN B-NP +for IN B-PP +all DT B-NP +, , O +and CC O +then RB B-ADVP +prepare VB B-VP +for IN B-PP +war NN B-NP +. . O +'' '' O + +In IN B-PP +addition NN B-NP +, , O +Mr. NNP B-NP +Alexander NNP I-NP +said VBD B-VP +, , O +the DT B-NP +worm NN I-NP +sends VBZ B-VP +strange JJ B-NP +messages NNS I-NP +to TO B-PP +other JJ B-NP +machines NNS I-NP +at IN B-PP +the DT B-NP +center NN I-NP +-- : O +such JJ B-PP +as IN I-PP +, , O +`` `` O +George NNP B-NP +Orwell NNP I-NP +was VBD B-VP +an DT B-NP +optimist NN I-NP +, , O +'' '' O +or CC O +`` `` O +Do VBP B-VP +n't RB I-VP +feed VB I-VP +the DT B-NP +bats NNS I-NP +tonight RB B-NP +. . O +'' '' O + +The DT B-NP +worm NN I-NP +also RB B-ADVP +looks VBZ B-VP +for IN B-PP +elementary JJ B-NP +passwords NNS I-NP +that WDT B-NP +confer VBP B-VP +more JJR B-NP +privileges NNS I-NP +on IN B-PP +the DT B-NP +user NN I-NP +. . O + +The DT B-NP +passwords NNS I-NP +are VBP B-VP +included VBN I-VP +in IN B-PP +the DT B-NP +system NN I-NP +software NN I-NP +when WRB B-ADVP +it PRP B-NP +is VBZ B-VP +installed VBN I-VP +but CC O +are VBP B-VP +supposed VBN I-VP +to TO I-VP +be VB I-VP +replaced VBN I-VP +as RB B-ADVP +soon RB I-ADVP +as IN B-SBAR +the DT B-NP +system NN I-NP +is VBZ B-VP +up IN B-ADJP +and CC O +running VBG B-VP +. . O + +If IN B-SBAR +it PRP B-NP +finds VBZ B-VP +one CD B-NP +of IN B-PP +those DT B-NP +passwords NNS I-NP +, , O +Mr. NNP B-NP +Alexander NNP I-NP +said VBD B-VP +, , O +the DT B-NP +worm NN I-NP +will MD B-VP +do VB I-VP +such JJ B-NP +things NNS I-NP +as IN B-PP +change NN B-VP +users NNS B-NP +' POS B-NP +passwords NNS I-NP +to TO B-PP +a DT B-NP +series NN I-NP +of IN B-PP +random JJ B-NP +numbers NNS I-NP +, , O +preventing VBG B-VP +them PRP B-NP +from IN B-PP +signing VBG B-VP +on IN B-PRT +to TO B-PP +the DT B-NP +network NN I-NP +. . O + +NASA NNP B-NP +estimated VBD B-VP +that IN B-SBAR +, , O +on IN B-PP +Monday NNP B-NP +, , O +about IN B-NP +four CD I-NP +computer NN I-NP +centers NNS I-NP +were VBD B-VP +affected VBN I-VP +. . O + +Yesterday NN B-NP +, , O +the DT B-NP +number NN I-NP +grew VBD B-VP +to TO B-PP +40 CD B-NP +; : O +today NN B-NP +the DT B-NP +number NN I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +grow VB I-VP +to TO B-PP +100 CD B-NP +. . O + +NASA NNP B-NP +said VBD B-VP +it PRP B-NP +will MD B-VP +take VB I-VP +about IN B-NP +a DT I-NP +week NN I-NP +before IN B-SBAR +it PRP B-NP +knows VBZ B-VP +exactly RB B-NP +how WRB I-NP +many JJ I-NP +centers NNS I-NP +of IN B-PP +the DT B-NP +6,000 CD I-NP +connected VBN B-VP +to TO B-PP +Internet NNP B-NP +were VBD B-VP +affected VBN I-VP +and CC O +the DT B-NP +extent NN I-NP +of IN B-PP +the DT B-NP +damage NN I-NP +, , O +if IN B-SBAR +any DT B-NP +. . O + +Anti-nuclear JJ B-NP +activists NNS I-NP +have VBP B-VP +protested VBN I-VP +the DT B-NP +launch NN I-NP +of IN B-PP +the DT B-NP +Galileo NNP I-NP +space NN I-NP +probe NN I-NP +to TO B-PP +Jupiter NNP B-NP +because IN B-SBAR +it PRP B-NP +uses VBZ B-VP +plutonium NN B-NP +to TO B-VP +generate VB I-VP +the DT B-NP +electricity NN I-NP +needed VBN B-VP +to TO I-VP +run VB I-VP +the DT B-NP +craft NN I-NP +. . O + +Activists NNS B-NP +fear VBP B-VP +that IN B-SBAR +if IN B-SBAR +the DT B-NP +shuttle NN I-NP +carrying VBG B-VP +Galileo NNP B-NP +into IN B-PP +orbit NN B-NP +should MD B-VP +explode VB I-VP +, , O +or CC O +if IN B-SBAR +Galileo NNP B-NP +itself PRP I-NP +crashes VBZ B-VP +into IN B-PP +the DT B-NP +Earth NNP I-NP +during IN B-PP +the DT B-NP +two CD I-NP +times NNS I-NP +it PRP B-NP +flies VBZ B-VP +close RB B-ADVP +to TO B-PP +the DT B-NP +planet NN I-NP +, , O +fatal JJ B-NP +levels NNS I-NP +of IN B-PP +plutonium NN B-NP +would MD B-VP +be VB I-VP +released VBN I-VP +into IN B-PP +the DT B-NP +atmosphere NN I-NP +. . O + +So RB B-ADVP +far RB I-ADVP +Galileo NNP B-NP +has VBZ B-VP +been VBN I-VP +delayed VBN I-VP +twice RB B-ADVP +, , O +once RB B-ADVP +because IN B-PP +of IN I-PP +a DT B-NP +computer NN I-NP +malfunction NN I-NP +connected VBN B-VP +with IN B-PP +a DT B-NP +space-shuttle NN I-NP +engine NN I-NP +, , O +and CC O +yesterday NN B-NP +because IN B-PP +of IN I-PP +the DT B-NP +weather NN I-NP +. . O + +NASA NNP B-NP +said VBD B-VP +the DT B-NP +Galileo NNP I-NP +worm NN I-NP +had VBD B-VP +nothing NN B-NP +to TO B-VP +do VB I-VP +with IN B-PP +either DT B-NP +delay NN I-NP +. . O + +Mr. NNP B-NP +Alexander NNP I-NP +of IN B-PP +Computerworld NNP B-NP +said VBD B-VP +hackers NNS B-NP +have VBP B-VP +gone VBN I-VP +after IN B-PP +SPAN NNP B-NP +before RB B-ADVP +. . O + +He PRP B-NP +said VBD B-VP +the DT B-NP +Chaos NNP I-NP +Computer NNP I-NP +Club NNP I-NP +, , O +of IN B-PP +West NNP B-NP +Germany NNP I-NP +, , O +once RB B-ADVP +managed VBD B-VP +to TO I-VP +invade VB I-VP +SPAN NNP B-NP +and CC O +do VBP B-VP +such JJ B-NP +things NNS I-NP +as IN B-PP +change NN B-VP +the DT B-NP +value NN I-NP +of IN B-PP +pi NN B-NP +, , O +messing VBG B-VP +up IN B-PRT +some DT B-NP +calculations NNS I-NP +. . O + +It PRP B-NP +is VBZ B-VP +now RB B-ADVP +a DT B-NP +commonplace NN I-NP +that IN B-SBAR +prosecutors NNS B-NP +are VBP B-VP +bringing VBG I-VP +criminal JJ B-NP +indictments NNS I-NP +in IN B-PP +cases NNS B-NP +where WRB B-ADVP +until IN B-PP +a DT B-NP +few JJ I-NP +years NNS I-NP +ago RB I-NP +only RB B-NP +a DT I-NP +civil JJ I-NP +action NN I-NP +at IN B-ADVP +most RBS I-ADVP +would MD B-VP +have VB I-VP +been VBN I-VP +brought VBN I-VP +. . O + +Yet RB O +it PRP B-NP +is VBZ B-VP +also RB B-ADVP +axiomatic JJ B-ADJP +that IN B-SBAR +the DT B-NP +power NN I-NP +to TO B-VP +create VB I-VP +new JJ B-NP +crimes NNS I-NP +belongs VBZ B-VP +only RB B-ADVP +to TO B-PP +the DT B-NP +legislature NN I-NP +, , B-PP +and CC I-PP +not RB I-PP +to TO B-PP +courts NNS B-NP +. . O + +Beginning VBG B-PP +in IN B-PP +the DT B-NP +early JJ I-NP +19th JJ I-NP +century NN I-NP +, , O +with IN B-PP +U.S. NNP B-NP +v. CC B-PP +Hudson NNP B-NP +and CC I-NP +Goodwin NNP I-NP +, , O +the DT B-NP +Supreme NNP I-NP +Court NNP I-NP +has VBZ B-VP +repeatedly RB I-VP +held VBN I-VP +that IN B-SBAR +a DT B-NP +judicial JJ I-NP +power NN I-NP +to TO B-VP +declare VB I-VP +conduct NN B-NP +to TO B-VP +be VB I-VP +against IN B-PP +the DT B-NP +public JJ I-NP +interest NN I-NP +and CC O +hence RB B-ADVP +criminal JJ B-ADJP +, , O +while IN B-SBAR +well RB B-ADJP +established VBN I-ADJP +in IN B-PP +British JJ B-NP +law NN I-NP +, , O +would MD B-VP +usurp VB I-VP +legislative JJ B-NP +authority NN I-NP +under IN B-PP +the DT B-NP +doctrine NN I-NP +of IN B-PP +separation NN B-NP +of IN B-PP +powers NNS B-NP +. . O + +That DT B-NP +'s VBZ B-VP +the DT B-NP +conventional JJ I-NP +theory NN I-NP +anyway RB B-ADVP +. . O + +In IN B-PP +practice NN B-NP +, , O +however RB B-ADVP +, , O +the DT B-NP +line NN I-NP +between IN B-PP +interpretation NN B-NP +and CC I-NP +redefinition NN I-NP +of IN B-PP +the DT B-NP +criminal JJ I-NP +law NN I-NP +long JJ B-ADVP +ago RB I-ADVP +began VBD B-VP +to TO I-VP +blur VB I-VP +. . O + +In IN B-PP +particular JJ B-NP +, , O +a DT B-NP +common JJ I-NP +law NN I-NP +of IN B-PP +white-collar JJ B-NP +crime NN I-NP +has VBZ B-VP +developed VBN I-VP +with IN B-PP +surprising JJ B-NP +rapidity NN I-NP +over IN B-PP +the DT B-NP +past JJ I-NP +decade NN I-NP +. . O + +For IN B-PP +example NN B-NP +, , O +although IN B-SBAR +insider NN B-NP +trading NN I-NP +has VBZ B-VP +long RB I-VP +been VBN I-VP +criminal JJ B-ADJP +, , O +it PRP B-NP +has VBZ B-VP +never RB I-VP +been VBN I-VP +statutorily RB I-VP +defined VBN I-VP +. . O + +In IN B-PP +1983 CD B-NP +, , O +the DT B-NP +Supreme NNP I-NP +Court NNP I-NP +tried VBD B-VP +to TO I-VP +supply VB I-VP +a DT B-NP +workable JJ I-NP +definition NN I-NP +in IN B-PP +the DT O +Dirks NNP O +v. CC B-PP +SEC NNP B-NP +decision NN B-NP +, , O +which WDT B-NP +found VBD B-VP +that DT O +liability NN B-NP +depended VBD B-VP +on IN B-PP +whether IN B-SBAR +the DT B-NP +tipper NN I-NP +had VBD B-VP +breached VBN I-VP +his PRP$ B-NP +fiduciary JJ I-NP +duty NN I-NP +to TO B-PP +the DT B-NP +corporation NN I-NP +in IN B-SBAR +order NN O +to TO B-VP +obtain VB I-VP +`` `` O +some DT B-NP +personal JJ I-NP +gain NN I-NP +'' '' O +and CC O +whether IN B-SBAR +the DT B-NP +tippee NN I-NP +knew VBD B-VP +or CC O +recklessly RB B-VP +disregarded VBD I-VP +this DT B-NP +fact NN I-NP +. . O + +Gradually RB B-ADVP +, , O +however RB B-ADVP +, , O +lower JJR B-NP +courts NNS I-NP +and CC O +prosecutors NNS B-NP +have VBP B-VP +pushed VBN I-VP +this DT B-NP +definition NN I-NP +to TO B-PP +its PRP$ B-NP +breaking NN I-NP +point NN I-NP +. . O + +Consider VB B-VP +the DT B-NP +facts NNS I-NP +underlying VBG B-VP +the DT B-NP +1989 CD I-NP +conviction NN I-NP +of IN B-PP +Robert NNP B-NP +Chestman NNP I-NP +. . O + +Prior RB B-PP +to TO B-PP +a DT B-NP +tender NN I-NP +offer NN I-NP +by IN B-PP +A&P NNP B-NP +for IN B-PP +Waldbaum NNP B-NP +Inc. NNP I-NP +in IN B-PP +1986 CD B-NP +, , O +the DT B-NP +founder NN I-NP +of IN B-PP +the DT B-NP +Waldbaum NNP I-NP +'s POS B-NP +supermarket NN I-NP +chain NN I-NP +called VBD B-VP +an DT B-NP +elderly JJ I-NP +relative JJ I-NP +to TO B-VP +tell VB I-VP +her PRP$ B-NP +to TO B-VP +assemble VB I-VP +her PRP$ B-NP +stock NN I-NP +certificates NNS I-NP +for IN B-PP +delivery NN B-NP +. . O + +She PRP B-NP +called VBD B-VP +her PRP$ B-NP +daughter NN I-NP +to TO B-VP +take VB I-VP +her PRP$ B-NP +to TO B-PP +the DT B-NP +bank NN I-NP +, , O +who WP B-NP +, , O +in IN B-PP +turn NN B-NP +, , O +persuaded VBD B-VP +her PRP$ B-NP +husband NN I-NP +, , O +a DT B-NP +Mr. NNP I-NP +Loeb NNP I-NP +, , O +to TO B-VP +run VB I-VP +this DT B-NP +errand NN I-NP +. . O + +Hearing NNP B-VP +of IN B-PP +this DT B-NP +information NN I-NP +, , O +the DT B-NP +husband NN I-NP +discussed VBD B-VP +it PRP B-NP +with IN B-PP +his PRP$ B-NP +broker NN I-NP +, , O +Mr. NNP B-NP +Chestman NNP I-NP +, , O +and CC O +Mr. NNP B-NP +Chestman NNP I-NP +then RB B-ADVP +bought VBD B-VP +for IN B-PP +his PRP$ B-NP +own JJ I-NP +account NN I-NP +and CC O +other JJ B-NP +clients NNS I-NP +. . O + +Basically RB B-ADVP +, , O +Mr. NNP B-NP +Chestman NNP I-NP +was VBD B-VP +a DT B-NP +fourth-level JJ I-NP +tippee NN I-NP +. . O + +Did VBD O +Mr. NNP B-NP +Loeb NNP I-NP +, , O +his PRP$ B-NP +tipper NN I-NP +, , O +breach NN B-VP +a DT B-NP +fiduciary JJ I-NP +duty NN I-NP +-LRB- ( O +and CC O +, , O +if IN B-SBAR +so RB B-ADVP +, , O +to TO B-PP +whom WP B-NP +-RRB- ) O +? . O + +Did VBD O +Mr. NNP B-NP +Loeb NNP I-NP +seek VB B-VP +personal JJ B-NP +gain NN I-NP +-LRB- ( O +and CC O +if IN B-SBAR +so RB O +, , O +how WRB B-ADVP +-RRB- ) O +? . O + +Or CC O +did VBD O +Mr. NNP B-NP +Chestman NNP I-NP +only RB B-VP +hear VB I-VP +a DT B-NP +market NN I-NP +rumor NN I-NP +-LRB- ( O +which WDT B-NP +one PRP B-NP +may MD B-VP +lawfully RB I-VP +trade VB I-VP +upon IN B-PP +-RRB- ) O +? . O + +The DT B-NP +line NN I-NP +seems VBZ B-VP +awfully RB B-ADJP +thin JJ I-ADJP +for IN B-PP +criminal-law NN B-NP +purposes NNS I-NP +. . O + +A DT B-NP +second JJ I-NP +illustration NN I-NP +is VBZ B-VP +supplied VBN I-VP +by IN B-PP +the DT B-NP +recent JJ I-NP +guilty JJ I-NP +plea NN I-NP +entered VBN B-VP +by IN B-PP +Robert NNP B-NP +Freeman NNP I-NP +, , O +formerly RB B-ADVP +head VBP B-NP +of IN B-PP +arbitrage NN B-NP +at IN B-PP +Goldman NNP B-NP +, , I-NP +Sachs NNP I-NP +& CC I-NP +Co NNP I-NP +. . O + +Essentially RB B-ADVP +, , O +Mr. NNP B-NP +Freeman NNP I-NP +had VBD B-VP +invested VBN I-VP +heavily RB B-ADVP +in IN B-PP +the DT B-NP +Beatrice NNP I-NP +leveraged JJ I-NP +buy-out NN I-NP +, , O +when WRB B-ADVP +he PRP B-NP +was VBD B-VP +told VBN I-VP +by IN B-PP +another DT B-NP +prominent JJ I-NP +trader NN I-NP +, , O +Bernard NNP B-NP +`` `` I-NP +Bunny NNP I-NP +'' '' I-NP +Lasker NNP I-NP +, , O +that IN B-SBAR +the DT B-NP +deal NN I-NP +was VBD B-VP +in IN B-PP +trouble NN B-NP +. . O + +After IN B-PP +placing VBG B-VP +orders NNS B-NP +to TO B-VP +sell VB I-VP +, , O +Mr. NNP B-NP +Freeman NNP I-NP +called VBD B-VP +Martin NNP B-NP +Siegel NNP I-NP +, , O +an DT B-NP +investment NN I-NP +banker NN I-NP +at IN B-PP +Kidder NNP B-NP +, , I-NP +Peabody NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +who WP B-NP +was VBD B-VP +advising VBG I-VP +on IN B-PP +the DT B-NP +deal NN I-NP +, , O +to TO B-VP +confirm VB I-VP +these DT B-NP +rumors NNS I-NP +. . O + +Mr. NNP B-NP +Siegel NNP I-NP +asked VBD B-VP +Mr. NNP B-NP +Freeman NNP I-NP +who WP B-NP +his PRP$ B-NP +source NN I-NP +was VBD B-VP +and CC O +, , O +on IN B-PP +hearing NN B-VP +that IN B-SBAR +it PRP B-NP +was VBD B-VP +Bunny NNP B-NP +Lasker NNP I-NP +, , B-VP +responded VBD I-VP +: : O +`` `` O +Well UH B-INTJ +, , O +your PRP$ B-NP +bunny NN I-NP +has VBZ B-VP +a DT B-NP +good JJ I-NP +nose NN I-NP +. . O +'' '' O + +The DT B-NP +illegal JJ I-NP +`` `` I-NP +tip NN I-NP +'' '' O +of IN B-PP +the DT B-NP +bunny NN I-NP +'s POS B-NP +good JJ I-NP +nose NN I-NP +was VBD B-VP +then RB B-ADVP +largely RB B-ADVP +a DT B-NP +confirmation NN I-NP +of IN B-PP +rumors NNS B-NP +already RB B-VP +known VBN I-VP +to TO B-PP +many VB B-NP +in IN B-PP +the DT B-NP +market NN I-NP +. . O + +Had VBD O +the DT B-NP +case NN I-NP +gone VBN B-VP +to TO B-PP +trial VB B-NP +the DT B-NP +same JJ I-NP +issues NNS I-NP +would MD B-VP +have VB I-VP +surfaced VBN I-VP +: : O + +Was VBD O +there EX B-NP +a DT B-NP +fiduciary JJ I-NP +breach NN I-NP +in IN B-SBAR +order NN O +to TO B-VP +obtain VB I-VP +personal JJ B-NP +gain NN I-NP +? . O + +Did VBD O +Mr. NNP B-NP +Freeman NNP I-NP +have VBP B-VP +notice NN B-NP +of IN B-PP +this DT B-NP +? . O + +Finally RB B-ADVP +, , O +was VBD O +the DT B-NP +information NN I-NP +material NN B-ADJP +? . O + +Yet RB B-ADVP +, , O +all PDT B-NP +these DT I-NP +issues NNS I-NP +are VBP B-VP +subsidiary NN B-ADJP +to TO B-PP +a DT B-NP +more RBR I-NP +central JJ I-NP +issue NN I-NP +: : O +Who WP B-NP +is VBZ B-VP +and CC O +who WP B-NP +should MD B-VP +be VB I-VP +making VBG B-VP +the DT B-NP +criminal JJ I-NP +law NN I-NP +here RB B-ADVP +? . O + +It PRP B-NP +is VBZ B-VP +not RB O +my PRP$ B-NP +contention NN I-NP +that IN B-SBAR +either DT B-NP +Mr. NNP B-NP +Chestman NNP I-NP +or CC O +Mr. NNP B-NP +Freeman NNP I-NP +was VBD B-VP +an DT B-NP +innocent JJ I-NP +victim NN I-NP +of IN B-PP +prosecutorial JJ B-NP +overzealousness NN I-NP +. . O + +Arguably RB B-ADVP +, , O +both DT B-NP +were VBD B-VP +on IN B-PP +notice NN B-NP +that IN B-SBAR +their PRP$ B-NP +behavior NN I-NP +was VBD B-VP +at IN B-ADJP +least JJS I-ADJP +risky JJ I-ADJP +. . O + +But CC O +even RB B-SBAR +if IN I-SBAR +they PRP B-NP +behaved VBD B-VP +recklessly RB B-ADVP +, , O +reasons NNS B-NP +still RB B-ADVP +exist VBP B-VP +to TO I-VP +fear VB I-VP +and CC I-VP +resist VB I-VP +this DT B-NP +steady JJ I-NP +process NN I-NP +of IN B-PP +case-by-case JJ B-NP +judicial JJ I-NP +extension NN I-NP +of IN B-PP +the DT B-NP +law NN I-NP +of IN B-PP +insider NN B-NP +trading NN I-NP +. . O + +Courts NNS B-NP +and CC I-NP +legislatures NNS I-NP +make VBP B-VP +decisions NNS B-NP +in IN B-PP +very RB B-NP +different JJ I-NP +ways NNS I-NP +and CC O +are VBP B-VP +each DT O +susceptible JJ B-ADJP +to TO B-PP +very RB B-NP +different JJ I-NP +kinds NNS I-NP +of IN B-PP +errors NNS B-NP +. . O + +After-the-fact JJ B-NP +judicial JJ I-NP +examination NN I-NP +of IN B-PP +an DT B-NP +actor NN I-NP +'s POS B-NP +conduct NN I-NP +has VBZ B-VP +always RB I-VP +been VBN I-VP +the DT B-NP +common JJ I-NP +law NN I-NP +'s POS B-NP +method NN I-NP +. . O + +When WRB B-ADVP +only RB B-NP +civil JJ I-NP +liability NN I-NP +is VBZ B-VP +involved VBN I-VP +, , O +this DT B-NP +method NN I-NP +has VBZ B-VP +the DT B-NP +undeniable JJ I-NP +strengths NNS I-NP +of IN B-PP +factual JJ B-NP +specificity NN I-NP +and CC O +avoidance NN B-NP +of IN B-PP +overgeneralization NN B-NP +. . O + +Still RB B-ADVP +, , O +case-by-case JJ B-NP +retrospective NN I-NP +decision NN I-NP +making VBG I-NP +of IN B-PP +this DT B-NP +sort NN I-NP +is VBZ B-VP +vulnerable JJ B-ADJP +to TO B-PP +the DT B-NP +tunnel NN I-NP +vision NN I-NP +caused VBN B-VP +by IN B-PP +a DT B-NP +fixation NN I-NP +on IN B-PP +ad NN O +hoc FW O +-LRB- ( O +and CC O +usually RB B-ADJP +sleazy JJ I-ADJP +-RRB- ) O +examples NNS B-NP +. . O + +When WRB B-ADVP +a DT B-NP +court NN I-NP +decides VBZ B-VP +that IN B-SBAR +a DT B-NP +particular JJ I-NP +actor NN I-NP +'s POS B-NP +conduct NN I-NP +was VBD B-VP +culpable JJ B-ADJP +and CC O +so RB B-ADVP +extends VBZ B-VP +the DT B-NP +definition NN I-NP +of IN B-PP +insider NN B-NP +trading NN I-NP +to TO B-VP +reach VB I-VP +this DT B-NP +conduct NN I-NP +, , O +it PRP B-NP +does VBZ B-VP +not RB I-VP +see VB I-VP +the DT B-NP +potentially RB I-NP +enormous JJ I-NP +number NN I-NP +of IN B-PP +other JJ B-NP +cases NNS I-NP +that WDT B-NP +will MD B-VP +be VB I-VP +covered VBN I-VP +by IN B-PP +the DT B-NP +expanded VBN I-NP +rule NN I-NP +. . O + +Thus RB B-ADVP +, , O +a DT B-NP +court NN I-NP +is VBZ B-VP +poorly RB B-ADJP +positioned VBN I-ADJP +to TO B-VP +make VB I-VP +judgments NNS B-NP +about IN B-PP +the DT B-NP +social JJ I-NP +utility NN I-NP +of IN B-PP +the DT B-NP +expanded VBN I-NP +rule NN I-NP +. . O + +For IN B-PP +example NN B-NP +, , O +in IN B-PP +focusing VBG B-VP +on IN B-PP +Mr. NNP B-NP +Freeman NNP I-NP +'s POS B-NP +attempt NN I-NP +to TO B-VP +gain VB I-VP +nonpublic JJ B-NP +information NN I-NP +about IN B-PP +a DT B-NP +deal NN I-NP +'s POS B-NP +collapse NN I-NP +, , O +one CD B-NP +does VBZ B-VP +not RB I-VP +naturally RB I-VP +think VB I-VP +about IN B-PP +the DT B-NP +reverse NN I-NP +side NN I-NP +of IN B-PP +the DT B-NP +coin NN I-NP +: : O +What WP B-NP +if IN B-SBAR +the DT B-NP +rumor NN I-NP +had VBD B-VP +been VBN I-VP +false JJ B-ADJP +? . O + +Can MD O +a DT B-NP +security NN I-NP +analyst NN I-NP +call NN B-VP +an DT B-NP +investment NN I-NP +banker NN I-NP +to TO B-VP +make VB I-VP +certain JJ B-ADJP +that IN B-SBAR +a DT B-NP +seemingly RB I-NP +improbable JJ I-NP +rumor NN I-NP +is VBZ B-VP +in IN B-ADVP +fact NN I-ADVP +false JJ B-ADJP +? . O + +In IN B-PP +the DT B-NP +past NN I-NP +, , O +not RB O +only RB B-ADVP +would MD O +reputable JJ B-NP +professionals NNS I-NP +have VB B-VP +rushed VBN I-VP +to TO I-VP +check VB I-VP +out RP B-PRT +such JJ B-NP +rumors NNS I-NP +with IN B-PP +the DT B-NP +company NN I-NP +, , O +but CC O +companies NNS B-NP +listed VBN B-VP +on IN B-PP +the DT B-NP +major JJ I-NP +stock NN I-NP +exchanges NNS I-NP +were VBD B-VP +encouraged VBN I-VP +by IN B-PP +the DT B-NP +exchanges NNS I-NP +to TO B-VP +respond VB I-VP +openly RB B-ADVP +to TO B-PP +such JJ B-NP +inquiries NNS I-NP +from IN B-PP +securities NNS B-NP +analysts NNS I-NP +. . O + +Today NN B-NP +, , O +after IN B-PP +Mr. NNP B-NP +Freeman NNP I-NP +'s POS B-NP +plea NN I-NP +, , O +there EX B-NP +is VBZ B-VP +an DT B-NP +uncertainty NN I-NP +that WDT B-NP +is VBZ B-VP +both DT B-ADJP +unfair JJ I-ADJP +and CC I-ADJP +inefficient JJ I-ADJP +. . O + +In IN B-PP +this DT B-NP +light NN I-NP +, , O +the DT B-NP +comparative JJ I-NP +advantages NNS I-NP +of IN B-PP +legislative JJ B-NP +law-making NNS I-NP +become VBP B-VP +clear JJ B-ADJP +: : O +-LRB- ( B-LST +1 CD I-LST +-RRB- ) O +Before IN B-SBAR +it PRP B-NP +acts VBZ B-VP +, , O +the DT B-NP +legislature NN I-NP +typically RB B-VP +will MD I-VP +hear VB I-VP +the DT B-NP +views NNS I-NP +of IN B-PP +representatives NNS B-NP +of IN B-PP +all PDT B-NP +those DT I-NP +affected VBN B-VP +by IN B-PP +its PRP$ B-NP +decision NN I-NP +, , B-NP +not RB I-NP +just RB B-NP +the DT I-NP +immediate JJ I-NP +parties NNS I-NP +before IN B-PP +the DT B-NP +court NN I-NP +; : O +and CC O +-LRB- ( B-LST +2 CD I-LST +-RRB- ) O +the DT B-NP +legislature NN I-NP +can MD B-VP +frame VB I-VP +`` `` B-NP +bright JJ I-NP +line NN I-NP +'' '' I-NP +standards NNS I-NP +that WDT B-NP +create VBP B-VP +less JJR B-NP +uncertainty NN I-NP +than IN B-PP +the DT B-NP +fact-bound JJ I-NP +decisions NNS I-NP +of IN B-PP +courts NNS B-NP +. . O + +Although IN B-SBAR +legislative JJ B-NP +lines NNS I-NP +can MD B-VP +result VB I-VP +in IN B-PP +under-inclusion NN B-NP +-LRB- ( O +which WDT B-NP +explains VBZ B-VP +why WRB B-ADVP +the DT B-NP +SEC NNP I-NP +has VBZ B-VP +long RB I-VP +resisted VBN I-VP +a DT B-NP +legislative JJ I-NP +definition NN I-NP +of IN B-PP +insider NN B-NP +trading NN I-NP +-RRB- ) O +, , O +judicial JJ B-NP +lawmaking JJ I-NP +inevitably RB B-ADVP +creates VBZ B-VP +uncertainty NN B-NP +because IN B-PP +of IN I-PP +the DT B-NP +shadowy JJ I-NP +outer JJ I-NP +edges NNS I-NP +and CC I-NP +implications NNS I-NP +of IN B-PP +most RBS B-NP +judicial JJ I-NP +decisions NNS I-NP +. . O + +At IN B-PP +least JJS B-ADJP +when WRB B-ADVP +the DT B-NP +stakes NNS I-NP +are VBP B-VP +high JJ B-ADJP +, , O +uncertainty NN B-NP +in IN B-PP +turn NN B-NP +results NNS B-VP +in IN B-PP +overinclusion NN B-NP +, , O +as IN B-SBAR +individuals NNS B-NP +do VBP B-VP +not RB I-VP +dare VB I-VP +to TO I-VP +approach VB I-VP +an DT B-NP +uncertain JJ I-NP +line NN I-NP +closely RB B-ADVP +. . O + +The DT B-NP +federal JJ I-NP +mail NN I-NP +and CC I-NP +wire NN I-NP +fraud NN I-NP +statutes NNS I-NP +provide VBP B-VP +even RB B-NP +better JJR I-NP +illustrations NNS I-NP +of IN B-PP +the DT B-NP +rapid JJ I-NP +evolution NN I-NP +of IN B-PP +a DT B-NP +federal JJ I-NP +common JJ I-NP +law NN I-NP +of IN B-PP +white-collar JJ B-NP +crime NN I-NP +. . O + +In IN B-PP +1987 CD B-NP +, , O +the DT B-NP +Supreme NNP I-NP +Court NNP I-NP +attempted VBD B-VP +in IN B-PP +McNally NNP B-NP +v. CC B-PP +U.S. NNP B-NP +to TO B-VP +halt VB I-VP +the DT B-NP +inexorable JJ I-NP +expansion NN I-NP +of IN B-PP +these DT B-NP +statutes NNS I-NP +by IN B-PP +adopting VBG B-VP +a DT B-NP +rule NN I-NP +of IN B-PP +strict JJ B-NP +construction NN I-NP +for IN B-PP +ambiguous JJ B-NP +criminal JJ I-NP +statues NNS I-NP +. . O + +Yet RB B-ADVP +, , O +late JJ B-NP +last JJ I-NP +year NN I-NP +, , O +Congress NNP B-NP +effectively RB B-VP +reversed VBD I-VP +this DT B-NP +decision NN I-NP +by IN B-PP +enacting VBG B-VP +a DT B-NP +one-sentence JJ I-NP +statute NN I-NP +that WDT B-NP +defined VBD B-VP +fraud NN B-NP +to TO B-VP +include VB I-VP +any DT B-NP +scheme NN I-NP +to TO B-VP +deprive VB I-VP +another DT B-NP +of IN B-PP +`` `` O +the DT B-NP +intangible JJ I-NP +right NN I-NP +of IN B-PP +honest JJ B-NP +services NNS I-NP +. . O +'' '' O + +At IN B-PP +a DT B-NP +stroke NN I-NP +, , O +this DT B-NP +may MD B-VP +criminalize VB I-VP +all DT B-NP +fiduciary JJ I-NP +breaches NNS I-NP +-LRB- ( O +and CC O +possibly RB B-ADVP +all DT B-NP +misrepresentations NNS I-NP +by IN B-PP +an DT B-NP +agent NN I-NP +or CC I-NP +employee NN I-NP +-RRB- ) O +. . O + +Such JJ B-NP +a DT I-NP +statute NN I-NP +illustrates VBZ B-VP +the DT B-NP +fundamental JJ I-NP +problem NN I-NP +: : O +Congress NNP B-NP +finds VBZ B-VP +it PRP B-NP +is VBZ B-VP +easier JJR B-ADJP +to TO B-VP +pass VB I-VP +sweepingly RB B-NP +moralistic JJ I-NP +prohibitions NNS I-NP +, , O +which WDT B-NP +the DT B-NP +courts NNS I-NP +must MD B-VP +thereafter RB I-VP +interpret VB I-VP +, , O +than IN B-SBAR +to TO B-VP +engage VB I-VP +in IN B-PP +the DT B-NP +difficult JJ I-NP +line-drawing JJ I-NP +distinctions NNS I-NP +that WDT B-NP +are VBP B-VP +inherently RB B-ADVP +its PRP$ B-NP +responsibility NN I-NP +. . O + +We PRP B-NP +are VBP B-VP +confronted VBN I-VP +less JJR B-ADVP +with IN B-PP +a DT B-NP +judicial JJ I-NP +power NN I-NP +grab NN I-NP +than IN B-PP +with IN B-PP +a DT B-NP +legislative JJ I-NP +giveaway NN I-NP +. . O + +Predictably RB B-ADVP +, , O +when WRB B-ADVP +confronted VBN B-VP +with IN B-PP +morally RB B-NP +dubious JJ I-NP +behavior NN I-NP +, , O +prosecutors NNS B-NP +will MD B-VP +exploit VB I-VP +the DT B-NP +latitude NN I-NP +such JJ B-NP +openended VBN I-NP +statutes NNS I-NP +give VBP B-VP +them PRP B-NP +. . O + +Over IN B-PP +the DT B-NP +long JJ I-NP +run NN I-NP +, , O +however RB B-ADVP +, , O +sleazy JJ B-NP +cases NNS I-NP +will MD B-VP +make VB I-VP +bad JJ B-NP +law NN I-NP +. . O + +Mr. NNP B-NP +Coffee NNP I-NP +is VBZ B-VP +a DT B-NP +professor NN I-NP +at IN B-PP +Columbia NNP B-NP +Law NNP I-NP +School NNP I-NP +. . O + +Corning NNP B-NP +Inc. NNP I-NP +posted VBD B-VP +a DT B-NP +38 CD I-NP +% NN I-NP +decline NN I-NP +in IN B-PP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +to TO B-PP +$ $ B-NP +76.5 CD I-NP +million CD I-NP +, , O +or CC O +80 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +123.9 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.37 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +The DT B-NP +year-earlier JJ I-NP +figure NN I-NP +included VBD B-VP +a DT B-NP +one-time JJ I-NP +gain NN I-NP +of IN B-PP +$ $ B-NP +59.9 CD I-NP +million CD I-NP +from IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +Corning NNP B-NP +'s POS B-NP +stakes NNS I-NP +in IN B-PP +Japanese JJ B-NP +businesses NNS I-NP +. . O + +Without IN B-PP +the DT B-NP +gain NN I-NP +, , O +operating VBG B-NP +profit NN I-NP +was VBD B-VP +$ $ B-NP +64 CD I-NP +million CD I-NP +, , O +or CC O +71 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +The DT B-NP +telecommunications NNS I-NP +, , I-NP +specialty NN I-NP +glass NN I-NP +, , I-NP +ceramic JJ I-NP +products NNS I-NP +and CC I-NP +laboratory-services JJ I-NP +concern NN I-NP +said VBD B-VP +the DT B-NP +latest JJS I-NP +quarter NN I-NP +included VBD B-VP +a DT B-NP +tax-loss NN I-NP +carry-forward NN I-NP +of IN B-PP +$ $ B-NP +600,000 CD I-NP +. . O + +A DT B-NP +year NN I-NP +earlier RBR B-ADVP +, , O +net NN B-NP +included VBD B-VP +a DT B-NP +$ $ I-NP +700,000 CD I-NP +taxlow NN I-NP +carry-forward NN I-NP +. . O + +Sales NNS B-NP +rose VBD B-VP +14 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +715 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +625.4 CD I-NP +million CD I-NP +. . O + +Corning NNP B-NP +'s POS B-NP +chairman NN I-NP +and CC I-NP +chief JJ I-NP +executive JJ I-NP +officer NN I-NP +, , O +James NNP B-NP +R. NNP I-NP +Houghton NNP I-NP +, , O +said VBD B-VP +operating VBG B-NP +performance NN I-NP +continued VBD B-VP +to TO I-VP +be VB I-VP +strong JJ B-ADJP +in IN B-PP +the DT B-NP +telecommunications NNS I-NP +and CC I-NP +health NN I-NP +and CC I-NP +science NN I-NP +segments NNS I-NP +. . O + +But CC O +the DT B-NP +specialty-material JJ I-NP +segment NN I-NP +slowed VBD B-VP +somewhat RB B-ADVP +and CC O +consumer NN B-NP +products NNS I-NP +continued VBD B-VP +below IN B-PP +expectations NNS B-NP +. . O + +As IN B-PP +for IN B-PP +joint JJ B-NP +ventures NNS I-NP +, , O +Mr. NNP B-NP +Houghton NNP I-NP +said VBD B-VP +profit NN B-NP +was VBD B-VP +`` `` O +essentially RB B-ADJP +flat JJ I-ADJP +'' '' O +due JJ O +primarily RB B-ADVP +to TO B-PP +a DT B-NP +slow JJ I-NP +recovery NN I-NP +at IN B-PP +Samsung-Corning NNP B-NP +Co. NNP I-NP +in IN B-PP +Korea NNP B-NP +following VBG B-PP +a DT B-NP +strike NN I-NP +at IN B-PP +a DT B-NP +major JJ I-NP +customer NN I-NP +and CC O +the DT B-NP +disruption NN I-NP +of IN B-PP +shipments NNS B-NP +to TO B-PP +China NNP B-NP +. . O + +Also RB B-ADVP +, , O +profit NN B-NP +was VBD B-VP +hurt VBN I-VP +by IN B-PP +the DT B-NP +strength NN I-NP +of IN B-PP +the DT B-NP +dollar NN I-NP +overseas JJ B-ADVP +which WDT B-NP +negatively RB B-VP +affected VBN I-VP +the DT B-NP +company NN I-NP +'s POS B-NP +currency-exchange JJ I-NP +rate NN I-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +, , O +Corning NNP B-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +38.50 CD I-NP +, , O +down RB B-ADVP +75 CD B-NP +cents NNS I-NP +. . O + +UAL NNP B-NP +, , O +the DT B-NP +hair-trigger JJ I-NP +stock NN I-NP +that WDT B-NP +exploded VBD B-VP +Friday NNP B-NP +'s POS B-NP +market NN I-NP +bombshell NN I-NP +, , O +briefly NN B-ADVP +traumatized VBD B-VP +traders NNS B-NP +again RB B-ADVP +yesterday NN B-NP +. . O + +Within IN B-PP +10 CD B-NP +minutes NNS I-NP +after IN B-PP +an DT B-NP +11:13 CD I-NP +a.m. NN I-NP +trading NN I-NP +halt NN I-NP +in IN B-PP +UAL NNP B-NP +, , O +parent NN B-NP +of IN B-PP +United NNP B-NP +Airlines NNPS I-NP +, , O +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +plunged VBD B-VP +nearly RB B-NP +27 CD I-NP +points NNS I-NP +to TO B-PP +a DT B-NP +60.25-point JJ I-NP +deficit NN I-NP +. . O + +Computer-guided JJ B-NP +buying NN I-NP +then RB B-ADVP +kicked VBD B-VP +in IN B-PRT +, , O +and CC O +the DT B-NP +industrials NNS I-NP +regained VBD B-VP +27 CD B-NP +points NNS I-NP +in IN B-PP +five CD B-NP +minutes NNS I-NP +. . O + +The DT B-NP +lightning NN I-NP +moves NNS I-NP +show VBP B-VP +that IN B-SBAR +the DT B-NP +stock NN I-NP +market NN I-NP +remains VBZ B-VP +fragile JJ B-ADJP +and CC I-ADJP +volatile JJ I-ADJP +-- : O +ready JJ B-ADJP +to TO B-VP +jump VB I-VP +at IN B-PP +the DT B-NP +slightest JJS I-NP +rumor NN I-NP +-- : O +a DT B-NP +few JJ I-NP +days NNS I-NP +after IN B-PP +its PRP$ B-NP +shocking JJ I-NP +190.58-point JJ I-NP +plunge NN I-NP +. . O + +Nervous JJ B-NP +investors NNS I-NP +continued VBD B-VP +to TO I-VP +limit VB I-VP +their PRP$ B-NP +buying NN I-NP +to TO B-PP +blue-chip JJ B-NP +stocks NNS I-NP +while IN B-SBAR +dumping VBG B-VP +takeover-related JJ B-NP +issues NNS I-NP +. . O + +The DT B-NP +industrial JJ I-NP +average NN I-NP +closed VBD B-VP +down RB B-ADVP +18.65 CD B-NP +, , O +to TO B-PP +2638.73 CD B-NP +. . O + +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +volume NN I-NP +was VBD B-VP +a DT B-NP +heavy JJ I-NP +224,070,000 CD I-NP +shares NNS I-NP +. . O + +Decliners NNS B-NP +on IN B-PP +the DT B-NP +Big NNP I-NP +Board NNP I-NP +outnumbered VBD B-VP +advancers NNS B-NP +, , O +931 CD B-ADVP +to TO I-ADVP +658 CD I-ADVP +. . O + +UAL NNP B-NP +was VBD B-VP +watched VBN I-VP +closely RB B-ADVP +and CC O +traded VBN B-VP +heavily RB B-ADVP +. . O + +The DT B-NP +stock NN I-NP +tumbled VBD B-VP +24 CD B-NP +7\/8 CD I-NP +to TO B-PP +198 CD B-NP +on IN B-PP +volume NN B-NP +of IN B-PP +2.8 CD B-NP +million CD I-NP +shares NNS I-NP +. . O + +The DT B-NP +market NN I-NP +is VBZ B-VP +still RB B-ADVP +very RB B-ADJP +touchy JJ I-ADJP +about IN B-PP +rumors NNS B-NP +and CC O +news NN B-NP +on IN B-PP +pending VBG B-NP +takeovers NNS I-NP +. . O + +UAL NNP B-NP +, , O +which WDT B-NP +is VBZ B-VP +trying VBG I-VP +to TO I-VP +reconstruct VB I-VP +a DT B-NP +buy-out NN I-NP +bid NN I-NP +that IN B-NP +banks NNS B-NP +would MD B-VP +n't RB I-VP +finance VB I-VP +, , O +represents VBZ B-VP +the DT B-NP +future NN I-NP +of IN B-PP +one CD B-NP +of IN B-PP +the DT B-NP +most RBS I-NP +powerful JJ I-NP +ingredients NNS I-NP +in IN B-PP +the DT B-NP +bull NN I-NP +market NN I-NP +- : O +corporate JJ B-NP +restructuring NN I-NP +. . O + +An DT B-NP +important JJ I-NP +element NN I-NP +of IN B-PP +this DT B-NP +phenomenon NN I-NP +-- : O +the DT B-NP +now-shaky JJ I-NP +market NN I-NP +for IN B-PP +junk NN B-NP +bonds NNS I-NP +, , O +used VBD B-VP +often RB B-ADVP +to TO B-VP +finance VB I-VP +restructurings NNS B-NP +and CC I-NP +takeovers NNS I-NP +-- : O +continued VBD B-VP +to TO I-VP +cast VB I-VP +a DT B-NP +pall NN I-NP +over IN B-PP +stocks NNS B-NP +. . O + +`` `` O +It PRP B-NP +was VBD B-VP +a DT B-NP +very RB I-NP +nervous JJ I-NP +day NN I-NP +, , O +'' '' O +said VBD B-VP +John NNP B-NP +Geary NNP I-NP +, , O +partner NN B-NP +of IN B-PP +the DT B-NP +Big NNP I-NP +Board NNP I-NP +specialist NN I-NP +firm NN I-NP +Ziebarth NNP I-NP +, , I-NP +Geary NNP I-NP +. . O + +The DT B-NP +volatility NN I-NP +wo MD B-VP +n't RB I-VP +end VB I-VP +soon RB B-ADVP +. . O + +This DT B-NP +Friday NNP I-NP +brings VBZ B-VP +the DT B-NP +`` `` I-NP +double JJ I-NP +witching JJ I-NP +hour NN I-NP +, , O +'' '' O +Wall NNP B-NP +Street NNP I-NP +'s POS B-NP +nickname NN I-NP +for IN B-PP +the DT B-NP +monthly JJ I-NP +simultaneous JJ I-NP +expiration NN I-NP +of IN B-PP +a DT B-NP +variety NN I-NP +of IN B-PP +stock NN B-NP +index NN I-NP +futures NNS I-NP +, , O +index NN B-NP +options NNS I-NP +and CC O +options NNS B-NP +on IN B-PP +individual JJ B-NP +stocks NNS I-NP +. . O + +Traders NNS B-NP +are VBP B-VP +already RB I-VP +buckling VBG I-VP +their PRP$ B-NP +seat NN I-NP +belts NNS I-NP +. . O + +Previous JJ B-NP +monthly JJ I-NP +expirations NNS I-NP +of IN B-PP +the DT B-NP +Major NNP I-NP +Market NNP I-NP +Index NNP I-NP +futures NNS I-NP +and CC O +Standard NNP B-NP +& CC I-NP +Poor NNP I-NP +'s POS B-NP +100-stock JJ I-NP +index NN I-NP +options NNS I-NP +have VBP B-VP +produced VBN I-VP +spectacular JJ B-NP +volatility NN I-NP +. . O + +`` `` O +We PRP B-NP +are VBP B-VP +in IN B-PP +one CD B-NP +of IN B-PP +those DT B-NP +phases NNS I-NP +where WRB B-ADVP +you PRP B-NP +are VBP B-VP +going VBG I-VP +to TO I-VP +get VB I-VP +a DT B-NP +lot NN I-NP +of IN B-PP +volatile JJ B-NP +expiration NN I-NP +action NN I-NP +, , O +'' '' O +said VBD B-VP +Donald NNP B-NP +Selkin NNP I-NP +, , O +head NN B-NP +of IN B-PP +stock-index NN B-NP +research NN I-NP +at IN B-PP +Prudential-Bache NNP B-NP +Securities NNP I-NP +. . O + +Investors NNS B-NP +were VBD B-VP +buying VBG I-VP +yesterday NN B-NP +, , O +but CC O +they PRP B-NP +were VBD B-VP +running VBG I-VP +scared VBN B-ADVP +to TO B-PP +premier NN B-NP +blue JJ I-NP +chips NNS I-NP +such JJ B-PP +as IN I-PP +Procter NNP B-NP +& CC I-NP +Gamble NNP I-NP +, , O +which WDT B-NP +jumped VBD B-VP +3 CD B-NP +3\/8 CD I-NP +to TO B-PP +127 CD B-NP +. . O + +Investors NNS B-NP +`` `` O +are VBP B-VP +buying VBG I-VP +stocks NNS B-NP +that WDT B-NP +have VBP B-VP +predictable JJ B-NP +earnings NNS I-NP +, , O +'' '' O +said VBD B-VP +Edward NNP B-NP +J. NNP I-NP +Laux NNP I-NP +, , O +head NN B-NP +of IN B-PP +block NN B-NP +trading NN I-NP +at IN B-PP +Kidder NNP B-NP +Peabody NNP I-NP +. . O + +Along IN B-PP +the DT B-NP +way NN I-NP +, , O +investors NNS B-NP +dumped VBD B-VP +takeover NN B-NP +stocks NNS I-NP +and CC O +shares NNS B-NP +of IN B-PP +banks NNS B-NP +that WDT B-NP +have VBP B-VP +leveraged-buy-out JJ B-NP +debt NN I-NP +and CC O +risky JJ B-NP +real JJ I-NP +estate NN I-NP +loans NNS I-NP +on IN B-PP +their PRP$ B-NP +books NNS I-NP +. . O + +`` `` O +These DT B-NP +loans NNS I-NP +are VBP B-VP +more JJR B-NP +of IN B-PP +a DT B-NP +focus NN I-NP +than IN B-PP +lesser-developed-country JJ B-NP +debt NN I-NP +now RB B-ADVP +, , O +'' '' O +said VBD B-VP +William NNP B-NP +Bee NNP I-NP +, , O +senior JJ B-NP +block NN I-NP +trader NN I-NP +at IN B-PP +Prudential-Bache NNP B-NP +Securities NNP I-NP +. . O + +Chase NNP B-NP +Manhattan NNP I-NP +, , O +which WDT B-NP +sold VBD B-VP +14 CD B-NP +million CD I-NP +additional JJ I-NP +shares NNS I-NP +at IN B-PP +40 CD B-NP +1\/8 CD I-NP +Monday NNP B-NP +through IN B-PP +an DT B-NP +underwriting NN I-NP +group NN I-NP +led VBN B-VP +by IN B-PP +Goldman NNP B-NP +Sachs NNP I-NP +, , O +closed VBD B-VP +down RB B-ADVP +1\/8 CD B-NP +to TO B-PP +40 CD B-NP +. . O + +Citicorp NNP B-NP +fell VBD B-VP +1\/2 CD B-NP +to TO B-PP +32 CD B-NP +, , O +and CC O +Manufacturers NNP B-NP +Hanover NNP I-NP +slipped VBD B-VP +3\/8 CD B-NP +to TO B-PP +40 CD B-NP +1\/4 CD I-NP +. . O + +Chase NNP B-NP +and CC O +Citicorp NNP B-NP +'s POS B-NP +Citibank NNP I-NP +are VBP B-VP +involved VBN I-VP +in IN B-PP +the DT B-NP +UAL NNP I-NP +buy-out NN I-NP +financing NN I-NP +. . O + +Both DT B-NP +Citicorp NNP B-NP +and CC O +Manufacturers NNP B-NP +Hanover NNP I-NP +reported VBD B-VP +earnings NNS B-NP +yesterday NN B-NP +. . O + +In IN B-PP +the DT B-NP +first JJ I-NP +hour NN I-NP +of IN B-PP +trading NN B-NP +, , O +about IN B-NP +one CD I-NP +million CD I-NP +shares VBZ I-NP +a DT B-NP +minute NN I-NP +changed VBD B-VP +hands NNS B-NP +on IN B-PP +the DT B-NP +Big NNP I-NP +Board NNP I-NP +as IN B-SBAR +big JJ B-NP +stock-index NN I-NP +arbitrage NN I-NP +sell NN I-NP +programs NNS I-NP +pushed VBD B-VP +prices NNS B-NP +lower JJR B-ADJP +. . O + +-LRB- ( O +In IN B-PP +stock-index NN B-NP +arbitrage NN I-NP +, , O +traders NNS B-NP +buy VBP B-VP +or CC I-VP +sell VB I-VP +big JJ B-NP +baskets NNS I-NP +of IN B-PP +stocks NNS B-NP +against IN B-PP +offsetting VBG B-NP +positions NNS I-NP +in IN B-PP +futures NNS B-NP +. . O +-RRB- ) O + +Traders NNS B-NP +said VBD B-VP +many NN B-NP +of IN B-PP +the DT B-NP +sell NN I-NP +programs NNS I-NP +are VBP B-VP +positions NNS B-NP +being VBG B-VP +established VBN I-VP +ahead RB B-ADVP +of IN B-PP +this DT B-NP +Friday NNP I-NP +'s POS B-NP +expiration NN I-NP +. . O + +Aside RB B-ADVP +from IN B-PP +computer-guided JJ B-NP +selling NN I-NP +, , O +airline NN B-NP +stocks NNS I-NP +took VBD B-VP +a DT B-NP +beating NN I-NP +as IN B-ADVP +well RB I-ADVP +. . O + +The DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Transportation NNP I-NP +Average NNP I-NP +fell VBD B-VP +49.96 CD B-NP +to TO B-VP +close VB I-VP +at IN B-PP +1254.27 CD B-NP +. . O + +AMR NNP B-NP +, , O +the DT B-NP +parent NN I-NP +of IN B-PP +American NNP B-NP +Airlines NNPS I-NP +, , O +continued VBD B-VP +to TO I-VP +retreat VB I-VP +in IN B-PP +the DT B-NP +wake NN I-NP +of IN B-PP +New NNP B-NP +York NNP I-NP +developer NN I-NP +Donald NNP I-NP +Trump NNP I-NP +'s POS B-NP +decision NN I-NP +to TO B-VP +withdraw VB I-VP +his PRP$ B-NP +$ $ I-NP +120-a-share JJ I-NP +takeover NN I-NP +bid NN I-NP +. . O + +The DT B-NP +stock NN I-NP +fell VBD B-VP +3 CD B-NP +1\/4 CD I-NP +to TO B-PP +73 CD B-NP +1\/4 CD I-NP +on IN B-PP +3.4 CD B-NP +million CD I-NP +shares NNS I-NP +. . O + +Delta NNP B-NP +Air NNP I-NP +Lines NNPS I-NP +fell VBD B-VP +1 CD B-NP +7\/8 CD I-NP +to TO B-PP +67 CD B-NP +7\/8 CD I-NP +, , O +USAir NNP B-NP +Group NNP I-NP +dropped VBD B-VP +3\/4 CD B-NP +to TO B-PP +40 CD B-NP +1\/4 CD I-NP +, , O +Southwest NNP B-NP +Airlines NNPS I-NP +dipped VBD B-VP +1\/2 CD B-NP +to TO B-PP +25 CD B-NP +and CC O +Alaska NNP B-NP +Air NNP I-NP +Group NNP I-NP +slid VBD B-VP +3\/8 CD B-NP +to TO B-PP +24 CD B-NP +1\/4 CD I-NP +. . O + +But CC O +Texas NNP B-NP +Air NNP I-NP +, , O +the DT B-NP +owner NN I-NP +of IN B-PP +Continental NNP B-NP +and CC O +Eastern NNP B-NP +airlines NNS I-NP +, , O +bucked VBD B-VP +the DT B-NP +group NN I-NP +'s POS B-NP +decline NN I-NP +by IN B-PP +rising VBG B-VP +7\/8 CD B-NP +to TO B-PP +14 CD B-NP +5\/8 CD I-NP +in IN B-PP +American NNP B-NP +Stock NNP I-NP +Exchange NNP I-NP +trading NN I-NP +. . O + +Eastern NNP B-NP +said VBD B-VP +it PRP B-NP +is VBZ B-VP +ahead RB B-ADJP +of IN B-PP +schedule NN B-NP +in IN B-PP +resuming VBG B-VP +its PRP$ B-NP +operations NNS I-NP +after IN B-PP +filing NN B-VP +earlier RBR B-ADVP +this DT B-NP +year NN I-NP +for IN B-PP +Chapter NN B-NP +11 CD I-NP +bankruptcy NN I-NP +protection NN I-NP +, , O +from IN B-PP +which WDT B-NP +it PRP B-NP +expects VBZ B-VP +to TO I-VP +emerge VB I-VP +early JJ B-NP +next JJ I-NP +year NN I-NP +. . O + +Philip NNP B-NP +Morris NNP I-NP +, , O +the DT B-NP +most RBS I-NP +active JJ I-NP +Big NNP I-NP +Board NNP I-NP +issue NN I-NP +for IN B-PP +the DT B-NP +second JJ I-NP +consecutive JJ I-NP +session NN I-NP +, , O +was VBD B-VP +unchanged JJ B-ADJP +at IN B-PP +43 CD B-NP +1\/4 CD I-NP +on IN B-PP +3.9 CD B-NP +million CD I-NP +shares NNS I-NP +. . O + +Other JJ B-NP +blue-chip JJ I-NP +consumer NN I-NP +issues NNS I-NP +also RB B-ADVP +fared VBD B-VP +relatively RB B-ADVP +well RB I-ADVP +: : O +PepsiCo NNP B-NP +rose VBD B-VP +1 CD B-NP +3\/8 CD I-NP +to TO B-PP +58 CD B-NP +1\/2 CD I-NP +; : O +Coca-Cola NNP B-NP +Co. NNP I-NP +was VBD B-VP +unchanged JJ B-ADJP +at IN B-PP +66 CD B-NP +3\/4 CD I-NP +; : O +McDonald NNP B-NP +'s POS B-NP +also RB B-ADVP +closed VBD B-VP +unchanged JJ B-ADJP +at IN B-PP +30 CD B-NP +1\/2 CD I-NP +, , O +and CC O +Merck NNP B-NP +rose VBD B-VP +1\/2 CD B-NP +to TO B-PP +75 CD B-NP +1\/4 CD I-NP +. . O + +Broader JJR B-NP +averages NNS I-NP +also RB B-ADVP +fell VBD B-VP +. . O + +Standard NNP B-NP +& CC I-NP +Poor NNP I-NP +'s POS I-NP +500-stock JJ I-NP +index NN I-NP +fell VBD B-VP +1.69 CD B-NP +to TO B-PP +341.16 CD B-NP +, , O +and CC O +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +Composite NNP I-NP +Index NNP I-NP +fell VBD B-VP +0.88 CD B-NP +to TO B-PP +188.89 CD B-NP +. . O + +Among IN B-PP +the DT B-NP +takeover-related JJ I-NP +stocks NNS I-NP +that WDT B-NP +sold VBD B-VP +off IN O +yesterday NN B-NP +were VBD B-VP +Disney NNP B-NP +, , O +which WDT B-NP +closed VBD B-VP +down RB B-ADVP +2 CD B-NP +1\/8 CD I-NP +to TO B-PP +121 CD B-NP +1\/4 CD I-NP +. . O + +Philips NNP B-NP +Industries NNPS I-NP +tumbled VBD B-VP +3\/8 CD B-NP +to TO B-PP +22 CD B-NP +7\/8 CD I-NP +; : O +Hilton NNP B-NP +Hotels NNPS I-NP +fell VBD B-VP +2 CD B-NP +1\/2 CD I-NP +to TO B-PP +92 CD B-NP +and CC O +Holiday NNP B-NP +Corp. NNP I-NP +fell VBD B-VP +2 CD B-NP +1\/8 CD I-NP +to TO B-PP +69 CD B-NP +7\/8 CD I-NP +. . O + +Among IN B-PP +other JJ B-NP +blue JJ I-NP +chips NNS I-NP +, , O +Exxon NNP B-NP +gained VBD B-VP +1\/8 CD B-NP +to TO B-PP +45 CD B-NP +1\/2 CD I-NP +. . O + +International NNP B-NP +Paper NNP I-NP +fell VBD B-VP +1 CD B-NP +3\/8 CD I-NP +to TO B-PP +51 CD B-NP +1\/2 CD I-NP +, , O +Union NNP B-NP +Carbide NNP I-NP +eased VBD B-VP +7\/8 CD B-NP +to TO B-PP +25 CD B-NP +, , O +Chevron NNP B-NP +gained VBD B-VP +1\/8 CD B-NP +to TO B-PP +64 CD B-NP +, , O +and CC O +Eastman NNP B-NP +Kodak NNP I-NP +closed VBD B-VP +down RB B-ADVP +3\/4 CD B-NP +to TO B-PP +44 CD B-NP +1\/4 CD I-NP +. . O + +The DT B-NP +only JJ I-NP +industry NN I-NP +group NN I-NP +to TO B-VP +show VB I-VP +a DT B-NP +gain NN I-NP +from IN B-PP +the DT B-NP +industrial JJ I-NP +average NN I-NP +'s POS B-NP +record NN I-NP +high JJ I-NP +on IN B-PP +Oct. NNP B-NP +9 CD I-NP +is VBZ B-VP +restaurants NNS B-NP +. . O + +Among IN B-PP +the DT B-NP +three CD I-NP +worst-performing JJ I-NP +groups NNS I-NP +, , O +with IN B-PP +declines NNS B-NP +of IN B-PP +10 CD B-NP +% NN I-NP +to TO I-NP +20 CD I-NP +% NN I-NP +, , O +are VBP B-VP +airlines NNS B-NP +, , O +casinos NNS B-NP +and CC O +securities NNS B-NP +brokers NNS I-NP +. . O + +Trading NN B-NP +also RB B-ADVP +was VBD B-VP +heavy JJ B-ADJP +in IN B-PP +the DT B-NP +over-the-counter JJ I-NP +market NN I-NP +. . O + +The DT B-NP +Nasdaq NNP I-NP +composite JJ I-NP +index NN I-NP +closed VBD B-VP +down RB B-ADVP +1.05 CD B-NP +to TO B-PP +459.93 CD B-NP +on IN B-PP +volume NN B-NP +of IN B-PP +161.5 CD B-NP +million CD I-NP +shares NNS I-NP +. . O + +`` `` O +The DT B-NP +environment NN I-NP +is VBZ B-VP +a DT B-NP +lot NN I-NP +more RBR B-ADJP +trading-oriented JJ I-ADJP +, , O +'' '' O +said VBD B-VP +Gary NNP B-NP +Rosenbach NNP I-NP +, , O +manager NN B-NP +of IN B-PP +equity NN B-NP +trading NN I-NP +at IN B-PP +the DT B-NP +OTC NNP I-NP +stock NN I-NP +firm NN I-NP +Needham NNP I-NP +& CC I-NP +Co. NNP I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +. . O + +`` `` O +Because IN B-SBAR +there EX B-NP +is VBZ B-VP +a DT B-NP +lot NN I-NP +more JJR B-NP +volatility NN I-NP +now RB B-ADVP +, , O +if IN B-SBAR +guys NNS B-NP +see VBP B-VP +that IN B-SBAR +they PRP B-NP +can MD B-VP +make VB I-VP +a DT B-NP +quick JJ I-NP +10 CD I-NP +% NN I-NP +or CC I-NP +15 CD I-NP +% NN I-NP +profit NN I-NP +, , O +they PRP B-NP +'ll MD B-VP +take VB I-VP +it PRP B-NP +. . O +'' '' O + +Compaq NNP B-NP +Computer NNP I-NP +gained VBD B-VP +2 CD B-NP +1\/8 CD I-NP +to TO B-PP +103 CD B-NP +3\/4 CD I-NP +on IN B-PP +two CD B-NP +million CD I-NP +shares NNS I-NP +, , O +reflecting VBG B-VP +market NN B-NP +optimism NN I-NP +about IN B-PP +the DT B-NP +prospects NNS I-NP +for IN B-PP +its PRP$ B-NP +newly RB I-NP +introduced VBN I-NP +notebook-sized JJ I-NP +computer NN I-NP +. . O + +B.F. NNP B-NP +Goodrich NNP I-NP +dropped VBD B-VP +1 CD B-NP +3\/8 CD I-NP +to TO B-PP +49 CD B-NP +1\/8 CD I-NP +. . O + +The DT B-NP +company NN I-NP +'s POS B-NP +third-quarter JJ I-NP +earnings NNS I-NP +were VBD B-VP +below IN B-PP +both DT B-NP +analysts NNS B-NP +' POS B-NP +forecasts NNS I-NP +and CC O +the DT B-NP +year-earlier JJ I-NP +level NN I-NP +. . O + +Blue NNP B-NP +Arrow NNP I-NP +added VBD B-VP +1\/2 CD B-NP +to TO B-PP +17 CD B-NP +1\/4 CD I-NP +. . O + +The DT B-NP +British JJ I-NP +company NN I-NP +plans NNS B-VP +to TO I-VP +change VB I-VP +its PRP$ B-NP +name NN I-NP +to TO B-PP +Manpower NNP B-NP +, , O +the DT B-NP +name NN I-NP +of IN B-PP +its PRP$ B-NP +U.S. NNP I-NP +unit NN I-NP +, , O +and CC O +write VB B-VP +off IN B-PRT +part NN B-NP +of IN B-PP +nearly RB B-NP +$ $ I-NP +1.2 CD I-NP +billion CD I-NP +in IN B-PP +good JJ B-NP +will NN I-NP +as IN B-PP +a DT B-NP +possible JJ I-NP +prelude NN I-NP +to TO B-PP +reincorporating VBG B-VP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +. . O + +Dravo NNP B-NP +rose VBD B-VP +5\/8 CD B-NP +to TO B-PP +16 CD B-NP +1\/8 CD I-NP +. . O + +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +began VBD B-VP +its PRP$ B-NP +coverage NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +with IN B-PP +favorable JJ B-NP +ratings NNS I-NP +. . O + +Intertan NNP B-NP +jumped VBD B-VP +2 CD B-NP +1\/4 CD I-NP +to TO B-PP +56 CD B-NP +7\/8 CD I-NP +. . O + +The DT B-NP +company NN I-NP +reported VBD B-VP +that IN B-SBAR +earnings NNS B-NP +from IN B-PP +operations NNS B-NP +for IN B-PP +the DT B-NP +September NNP I-NP +quarter NN I-NP +were VBD B-VP +up IN B-ADVP +about IN B-NP +25 CD I-NP +% NN I-NP +from IN B-PP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Bay NNP B-NP +Financial NNP I-NP +, , O +which WDT B-NP +said VBD B-VP +it PRP B-NP +may MD B-VP +be VB I-VP +forced VBN I-VP +to TO I-VP +file VB I-VP +under IN B-PP +Chapter NN B-NP +11 CD I-NP +if IN B-SBAR +it PRP B-NP +ca MD B-VP +n't RB I-VP +reach VB I-VP +an DT B-NP +agreement NN I-NP +with IN B-PP +its PRP$ B-NP +lenders NNS I-NP +to TO B-VP +relieve VB I-VP +its PRP$ B-NP +debt NN I-NP +burden NN I-NP +, , O +plunged VBD B-VP +1 CD B-NP +3\/8 CD I-NP +to TO B-PP +2 CD B-NP +1\/8 CD I-NP +. . O + +The DT B-NP +Amex NNP I-NP +Market NNP I-NP +Value NNP I-NP +Index NNP I-NP +fell VBD B-VP +1.25 CD B-NP +to TO B-PP +375.16 CD B-NP +. . O + +Volume NN B-NP +totaled VBD B-VP +16,800,000 CD B-NP +shares NNS I-NP +. . O + +Among IN B-PP +active JJ B-NP +Amex NNP I-NP +issues NNS I-NP +, , O +the DT B-NP +American JJ I-NP +depositary NN I-NP +receipts NNS I-NP +of IN B-PP +B.A.T NNP B-NP +Industries NNPS I-NP +fell VBD B-VP +1\/4 CD B-NP +to TO B-PP +11 CD B-NP +3\/4 CD I-NP +on IN B-PP +turnover NN B-NP +of IN B-PP +885,800 CD B-NP +. . O + +Investment NN B-NP +bankers NNS I-NP +and CC O +retailers NNS B-NP +said VBD B-VP +the DT B-NP +turmoil NN I-NP +on IN B-PP +Wall NNP B-NP +Street NNP I-NP +may MD B-VP +benefit VB I-VP +managers NNS B-NP +who WP B-NP +plan VBP B-VP +to TO I-VP +bid VB I-VP +for IN B-PP +U.S. NNP B-NP +retailing NN I-NP +units NNS I-NP +of IN B-PP +the DT B-NP +British JJ I-NP +firm NN I-NP +because IN B-SBAR +takeover NN B-NP +prices NNS I-NP +may MD B-VP +not RB I-VP +be VB I-VP +as RB B-ADJP +high JJ I-ADJP +as IN B-PP +before IN B-PP +the DT B-NP +recent JJ I-NP +correction NN I-NP +. . O + +Fruit NNP B-NP +of IN B-PP +the DT B-NP +Loom NNP I-NP +slipped VBD B-VP +1\/8 CD B-NP +to TO B-PP +12 CD B-NP +3\/8 CD I-NP +on IN B-PP +501,200 CD B-NP +shares NNS I-NP +. . O + +DWG NNP B-NP +Corp. NNP I-NP +jumped VBD B-VP +1 CD B-NP +1\/4 CD I-NP +to TO B-PP +15 CD B-NP +on IN B-PP +454,100 CD B-NP +shares NNS I-NP +. . O + +Carnival NNP B-NP +Cruise NNP I-NP +Lines NNP I-NP +Class NNP I-NP +A DT I-NP +dropped VBD B-VP +1 CD B-NP +to TO B-PP +21 CD B-NP +1\/8 CD I-NP +on IN B-PP +331,400 CD B-NP +shares NNS I-NP +. . O + +Amex NNP B-NP +issues NNS I-NP +with IN B-PP +big JJ B-NP +percentage NN I-NP +price NN I-NP +gains NNS I-NP +included VBD B-VP +two CD B-NP +Eastern NNP I-NP +Air NNP I-NP +Lines NNPS I-NP +preferred JJ I-NP +stocks NNS I-NP +, , O +reacting VBG B-VP +to TO B-PP +the DT B-NP +news NN I-NP +about IN B-PP +improved VBN B-NP +recovery NN I-NP +in IN B-PP +flight NN B-NP +schedules NNS I-NP +after IN B-SBAR +the DT B-NP +company NN I-NP +filed VBN B-VP +for IN B-PP +bankruptcy NN B-NP +protection NN I-NP +. . O + +Eastern NNP B-NP +'s POS B-NP +Class NNP I-NP +F NN I-NP +preferred JJ I-NP +rose VBD B-VP +12 CD B-NP +% NN I-NP +, , O +or CC O +1 CD B-NP +1\/4 CD I-NP +, , O +to TO B-PP +11 CD B-NP +3\/4 CD I-NP +; : O +the DT B-NP +Class NNP I-NP +E NN I-NP +preferred JJ I-NP +gained VBD B-VP +7 CD B-NP +% NN I-NP +, , O +or CC O +5\/8 CD B-NP +, , O +to TO B-PP +10 CD B-NP +1\/4 CD I-NP +. . O + +The DT B-NP +biggest JJS I-NP +percentage NN I-NP +gainer NN I-NP +on IN B-PP +the DT B-NP +Amex NNP I-NP +was VBD B-VP +Enviropact NNP B-NP +, , O +which WDT B-NP +jumped VBD B-VP +23 CD B-NP +% NN I-NP +, , O +or CC O +5\/8 CD B-NP +, , O +to TO B-PP +3 CD B-NP +3\/8 CD I-NP +on IN B-PP +volume NN B-NP +of IN B-PP +29,000 CD B-NP +shares NNS I-NP +. . O + +On IN B-PP +Monday NNP B-NP +, , O +the DT B-NP +company NN I-NP +, , O +a DT B-NP +provider NN I-NP +of IN B-PP +environmental JJ B-NP +consulting NN I-NP +services NNS I-NP +, , O +reported VBD B-VP +a DT B-NP +wider RBR I-NP +fiscal JJ I-NP +fourth-quarter JJ I-NP +loss NN I-NP +and CC O +predicted VBD B-VP +a DT B-NP +loss NN I-NP +for IN B-PP +its PRP$ B-NP +fiscal JJ I-NP +1990 CD I-NP +first JJ I-NP +quarter NN I-NP +, , O +but CC O +said VBD B-VP +a DT B-NP +profit NN I-NP +is VBZ B-VP +expected VBN I-VP +for IN B-PP +all DT B-NP +of IN B-PP +fiscal JJ B-NP +1990 CD I-NP +. . O + +But CC O +its PRP$ B-NP +auditor NN I-NP +, , O +Ernst NNP B-NP +& CC I-NP +Young NNP I-NP +, , O +said VBD B-VP +Enviropact NNP B-NP +'s POS B-NP +financial JJ I-NP +situation NN I-NP +raises VBZ B-VP +`` `` O +substantial JJ B-NP +doubt NN I-NP +about IN B-PP +its PRP$ B-NP +ability NN I-NP +to TO B-VP +continue VB I-VP +as IN B-PP +a DT B-NP +going VBG I-NP +concern NN I-NP +. . O +'' '' O + +Mission NNP B-NP +Resource NNP I-NP +Partners NNPS I-NP +advanced VBD B-VP +8 CD B-NP +% NN I-NP +, , O +or CC O +1 CD B-NP +3\/8 CD I-NP +, , O +to TO B-PP +18 CD B-NP +7\/8 CD I-NP +. . O + +Sonja NNP B-NP +Steptoe NNP I-NP +and CC O +David NNP B-NP +Wilson NNP I-NP +contributed VBD B-VP +to TO B-PP +this DT B-NP +article NN I-NP +. . O + +ONE CD B-NP +LIBERTY NNP I-NP +PROPERTIES NNPS I-NP +Inc. NNP I-NP +declared VBD B-VP +a DT B-NP +dividend NN I-NP +of IN B-PP +40 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +on IN B-PP +its PRP$ B-NP +$ $ I-NP +16.50 CD I-NP +cumulative JJ I-NP +convertible JJ I-NP +preferred JJ I-NP +stock NN I-NP +, , O +payable JJ B-ADJP +Jan. NNP B-NP +2 CD I-NP +to TO B-PP +stock VB B-NP +of IN B-PP +record NN B-NP +Dec. NNP B-NP +8 CD I-NP +. . O + +But CC O +directors NNS B-NP +of IN B-PP +the DT B-NP +Great NNP I-NP +Neck NNP I-NP +, , I-NP +N.Y. NNP I-NP +, , I-NP +real JJ I-NP +estate NN I-NP +investment NN I-NP +trust NN I-NP +did VBD B-VP +n't RB I-VP +act VB I-VP +on IN B-PP +the DT B-NP +common JJ I-NP +stock NN I-NP +dividend NN I-NP +. . O + +And CC O +they PRP B-NP +wo MD B-VP +n't RB I-VP +consider VB I-VP +such JJ B-NP +a DT I-NP +dividend NN I-NP +, , O +the DT B-NP +trust NN I-NP +added VBD B-VP +, , O +before IN B-SBAR +results NNS B-NP +are VBP B-VP +available JJ B-ADJP +for IN B-PP +the DT B-NP +first JJ I-NP +quarter NN I-NP +of IN B-PP +1990 CD B-NP +. . O + +In IN B-PP +part NN B-NP +, , O +the DT B-NP +trust NN I-NP +cited VBD B-VP +the DT B-NP +need NN I-NP +to TO B-VP +retain VB I-VP +cash NN B-NP +for IN B-PP +possible JJ B-NP +acquisitions NNS I-NP +. . O + +According VBG B-PP +to TO B-PP +a DT B-NP +spokesman NN I-NP +, , O +One CD B-NP +Liberty NNP I-NP +will MD B-VP +have VB I-VP +paid VBN I-VP +out RP B-PRT +as IN B-PP +dividends NNS B-NP +the DT B-NP +required VBN I-NP +amount NN I-NP +of IN B-PP +its PRP$ B-NP +taxable JJ I-NP +income NN I-NP +to TO B-VP +maintain VB I-VP +its PRP$ B-NP +legal JJ I-NP +status NN I-NP +as IN B-PP +a DT B-NP +real JJ I-NP +estate NN I-NP +investment NN I-NP +trust NN I-NP +. . O + +Banks NNS B-NP +are VBP B-VP +continuing VBG I-VP +to TO I-VP +go VB I-VP +after IN B-PP +individual JJ B-NP +investors NNS I-NP +, , O +despite IN B-PP +falling VBG B-NP +interest NN I-NP +rates NNS I-NP +. . O + +Yields NNS B-NP +on IN B-PP +small-denomination NN B-NP +certificates NNS I-NP +of IN B-PP +deposit NN B-NP +fell VBD B-VP +at IN B-PP +about IN B-NP +half PDT I-NP +the DT I-NP +rate NN I-NP +of IN B-PP +so-called JJ B-NP +jumbo JJ I-NP +CDs NNS I-NP +this DT B-NP +week NN I-NP +, , O +according VBG B-PP +to TO B-PP +Banxquote NNP B-NP +Money NNP I-NP +Markets NNPS I-NP +, , O +an DT B-NP +information NN I-NP +service NN I-NP +based VBN B-VP +here RB B-ADVP +. . O + +Investors NNS B-NP +can MD B-VP +get VB I-VP +slightly RB B-NP +higher JJR I-NP +yields NNS I-NP +on IN B-PP +deposits NNS B-NP +below IN B-PP +$ $ B-NP +50,000 CD I-NP +than IN B-SBAR +they PRP B-NP +can MD B-VP +on IN B-PP +deposits NNS B-NP +of IN B-PP +$ $ B-NP +90,000 CD I-NP +and CC I-NP +up RB I-NP +. . O + +`` `` O +Banks NNP B-NP +want VBP B-VP +to TO I-VP +remain VB I-VP +competitive JJ B-ADJP +, , O +'' '' O +said VBD B-VP +Norberto NNP B-NP +Mehl NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +Banxquote NNP B-NP +. . O + +`` `` O +October NNP B-NP +is VBZ B-VP +a DT B-NP +big JJ I-NP +rollover NN I-NP +month NN I-NP +and CC O +perhaps RB B-ADVP +they PRP B-NP +anticipate VBP B-VP +greater JJR B-NP +demand NN I-NP +... : O +among IN B-PP +people NNS B-NP +leaving VBG B-VP +the DT B-NP +stock NN I-NP +market NN I-NP +. . O +'' '' O + +Some DT B-NP +bankers NNS I-NP +are VBP B-VP +reporting VBG I-VP +more JJR B-NP +inquiries NNS I-NP +than IN B-PP +usual JJ B-ADJP +about IN B-PP +CDs NNS B-NP +since IN B-PP +Friday NNP B-NP +. . O + +`` `` O +Reports NNS B-NP +from IN B-PP +branches NNS B-NP +are VBP B-VP +that IN B-SBAR +there EX B-NP +has VBZ B-VP +been VBN I-VP +greater JJR B-NP +interest NN I-NP +in IN B-PP +the DT B-NP +last JJ I-NP +day NN I-NP +or CC O +so RB B-ADVP +, , O +'' '' O +said VBD B-VP +Steven NNP B-NP +Braitman NNP I-NP +, , O +a DT B-NP +vice NN I-NP +president NN I-NP +at IN B-PP +Chemical NNP B-NP +Bank NNP I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +. . O + +Chemical NNP B-NP +said VBD B-VP +deposits NNS B-NP +Monday NNP B-NP +were VBD B-VP +about RB B-NP +$ $ I-NP +5 NN I-NP +million CD I-NP +higher JJR B-ADJP +than IN B-PP +usual JJ B-ADJP +and CC O +it PRP B-NP +expects VBZ B-VP +more JJR B-NP +activity NN I-NP +as IN B-SBAR +investors NNS B-NP +receive VBP B-VP +the DT B-NP +proceeds NNS I-NP +from IN B-PP +sales NNS B-NP +of IN B-PP +stock NN B-NP +. . O + +`` `` O +This DT B-NP +is VBZ B-VP +no DT B-NP +time NN I-NP +to TO B-VP +be VB I-VP +playing VBG I-VP +in IN B-PP +the DT B-NP +street NN I-NP +... : O + +the DT B-NP +Dow NNP I-NP +has VBZ B-VP +more JJR B-NP +ups NNS I-NP +and CC I-NP +downs NNS I-NP +than IN B-PP +an DT B-NP +elevator NN I-NP +, , O +'' '' O +proclaimed VBD B-VP +an DT B-NP +advertisement NN I-NP +Monday NNP B-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +newspapers NNS I-NP +, , O +touting VBG B-VP +Lincoln NNP B-NP +Savings NNP I-NP +Bank NNP I-NP +'s POS B-NP +one-year JJ I-NP +CD NNP I-NP +. . O + +Harold NNP B-NP +Jones NNP I-NP +, , O +Lincoln NNP B-NP +'s POS B-NP +chief JJ I-NP +retail JJ I-NP +banking NN I-NP +officer NN I-NP +, , O +said VBD B-VP +there EX B-NP +has VBZ B-VP +n't RB I-VP +yet RB I-VP +been VBN I-VP +`` `` O +a DT B-NP +discernible JJ I-NP +response NN I-NP +, , O +'' '' O +although IN B-SBAR +the DT B-NP +ad NN I-NP +included VBD B-VP +a DT B-NP +coupon NN I-NP +that WDT B-NP +could MD B-VP +arrive VB I-VP +later RB B-ADVP +in IN B-PP +the DT B-NP +week NN I-NP +. . O + +Friday NNP B-NP +'s POS B-NP +market NN I-NP +rout NN I-NP +came VBD B-VP +smack RB B-ADVP +in IN B-PP +the DT B-NP +middle NN I-NP +of IN B-PP +the DT B-NP +heaviest JJS I-NP +month NN I-NP +for IN B-PP +CD NNP B-NP +rollovers NNS I-NP +, , O +when WRB B-ADVP +a DT B-NP +number NN I-NP +of IN B-PP +banks NNS B-NP +and CC I-NP +thrifts NNS I-NP +already RB B-ADVP +have VBP B-VP +promotions NNS B-NP +under IN B-PP +way NN B-NP +. . O + +First NNP B-NP +National NNP I-NP +Bank NNP I-NP +of IN B-PP +Boston NNP B-NP +, , O +for IN B-PP +example NN B-NP +, , O +is VBZ B-VP +offering VBG I-VP +certain JJ B-NP +new JJ I-NP +depositors NNS I-NP +an DT B-NP +extra JJ I-NP +quarter NN I-NP +of IN B-PP +a DT B-NP +percentage NN I-NP +point NN I-NP +on IN B-PP +six-month JJ B-NP +and CC I-NP +12-month JJ I-NP +CDs NNS I-NP +. . O + +Some DT B-NP +banks NNS I-NP +actually RB B-ADVP +boosted VBD B-VP +yields NNS B-NP +on IN B-PP +the DT B-NP +shortest JJS I-NP +term NN I-NP +CDs NNS I-NP +in IN B-PP +the DT B-NP +latest JJS I-NP +week NN I-NP +. . O + +New NNP B-NP +York NNP I-NP +'s POS B-NP +Citibank NNP I-NP +, , O +for IN B-PP +instance NN B-NP +, , O +increased VBD B-VP +the DT B-NP +yield NN I-NP +on IN B-PP +small-denomination NN B-NP +three-month JJ I-NP +CDs NNS I-NP +to TO B-PP +8 CD B-NP +% NN I-NP +from IN B-PP +7.9 CD B-NP +% NN I-NP +. . O + +On IN B-PP +average JJ B-NP +, , O +however RB B-ADVP +, , O +three-month JJ B-NP +CDs NNS I-NP +at IN B-PP +major JJ B-NP +banks NNS I-NP +are VBP B-VP +yielding VBG I-VP +a DT B-NP +tenth NN I-NP +of IN B-PP +a DT B-NP +percentage NN I-NP +point NN I-NP +less JJR B-ADJP +than IN B-SBAR +they PRP B-NP +were VBD B-VP +a DT B-NP +week NN I-NP +ago RB B-ADVP +. . O + +Average JJ B-NP +yields NNS I-NP +on IN B-PP +CDs NNS B-NP +aimed VBN B-VP +at IN B-PP +individual JJ B-NP +investors NNS I-NP +fell VBD B-VP +less JJR B-ADJP +than IN B-PP +half NN B-NP +as RB I-NP +much JJ I-NP +as IN B-PP +yields NNS B-NP +on IN B-PP +Treasury NNP B-NP +bills NNS I-NP +sold VBN B-VP +at IN B-PP +Monday NNP B-NP +'s POS B-NP +auction NN I-NP +. . O + +Six-month JJ B-NP +CDs NNS I-NP +of IN B-PP +$ $ B-NP +50,000 CD I-NP +and CC B-NP +less JJR I-NP +yielded VBD B-VP +an DT B-NP +average JJ I-NP +8.02 CD I-NP +% NN I-NP +in IN B-PP +the DT B-NP +week NN I-NP +ended VBN B-VP +Tuesday NNP B-NP +, , O +down RB B-ADVP +from IN B-PP +8.10 CD B-NP +% NN I-NP +, , O +according VBG B-PP +to TO B-PP +Banxquote NNP B-NP +. . O + +The DT B-NP +yield NN I-NP +on IN B-PP +six-month JJ B-NP +T-bills NNS I-NP +fell VBD B-VP +to TO B-PP +7.82 CD B-NP +% NN I-NP +on IN B-PP +Monday NNP B-NP +, , O +from IN B-PP +8.01 CD B-NP +% NN I-NP +the DT B-NP +week NN I-NP +before RB B-ADVP +. . O + +Meanwhile RB B-ADVP +, , O +the DT B-NP +average JJ I-NP +yield NN I-NP +on IN B-PP +six-month JJ B-NP +CDs NNS I-NP +of IN B-PP +more JJR B-NP +than IN I-NP +$ $ I-NP +90,000 CD I-NP +fell VBD B-VP +to TO B-PP +7.93 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +latest JJS I-NP +week NN I-NP +, , O +according VBG B-PP +to TO B-PP +Banxquote NNP B-NP +, , O +from IN B-PP +8.10 CD B-NP +% NN I-NP +the DT B-NP +week NN I-NP +before RB B-ADVP +. . O + +Mr. NNP B-NP +Mehl NNP I-NP +noted VBD B-VP +that IN B-SBAR +actual JJ B-NP +rates NNS I-NP +are VBP B-VP +almost RB B-ADJP +identical JJ I-ADJP +on IN B-PP +small JJ B-NP +and CC I-NP +large-denomination NN I-NP +CDs NNS I-NP +, , O +but CC O +yields NNS B-NP +on IN B-PP +CDs NNS B-NP +aimed VBN B-VP +at IN B-PP +the DT B-NP +individual JJ I-NP +investor NN I-NP +are VBP B-VP +boosted VBN I-VP +by IN B-PP +more RBR B-NP +frequent JJ I-NP +compounding NN I-NP +. . O + +CDs NNS B-NP +sold VBN B-VP +by IN B-PP +major JJ B-NP +brokerage NN I-NP +houses NNS I-NP +, , O +which WDT B-NP +like IN B-PP +jumbo JJ B-NP +CDs NNS I-NP +tend VBP B-VP +to TO I-VP +closely RB I-VP +follow VB I-VP +interest NN B-NP +rate NN I-NP +trends NNS I-NP +, , O +also RB B-ADVP +posted VBD B-VP +larger JJR B-NP +drops VBZ I-NP +in IN B-PP +yields NNS B-NP +. . O + +A DT B-NP +six-month JJ I-NP +, , I-NP +broker-sold JJ I-NP +CD NNP I-NP +, , O +for IN B-PP +example NN B-NP +, , O +was VBD B-VP +yielding VBG I-VP +an DT B-NP +average JJ I-NP +8.09 CD I-NP +% NN I-NP +in IN B-PP +the DT B-NP +latest JJS I-NP +week NN I-NP +, , O +a DT B-NP +fifth NN I-NP +of IN B-PP +a DT B-NP +percentage NN I-NP +point NN I-NP +lower JJR B-ADJP +than IN B-PP +the DT B-NP +week NN I-NP +before RB B-ADVP +. . O + +In IN B-PP +late JJ B-NP +April NNP I-NP +, , O +when WRB B-ADVP +interest NN B-NP +rates NNS I-NP +were VBD B-VP +at IN B-PP +their PRP$ B-NP +recent JJ I-NP +highs NNS I-NP +, , O +short-term JJ B-NP +CDs NNS I-NP +sold VBN B-VP +by IN B-PP +brokers NNS B-NP +were VBD B-VP +offering NN I-VP +yields NNS B-NP +half PDT B-NP +a DT I-NP +percentage NN I-NP +point NN I-NP +or CC B-NP +more JJR I-NP +higher JJR B-ADJP +than IN B-PP +banks NNS B-NP +. . O + +CD JJ B-NP +yields NNS I-NP +are VBP B-VP +generally RB I-VP +expected VBN I-VP +to TO I-VP +fall VB I-VP +further JJ B-ADVP +in IN B-PP +coming VBG B-NP +weeks NNS I-NP +. . O + +`` `` O +What WP B-NP +happened VBD B-VP +in IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +and CC O +the DT B-NP +bigger JJR I-NP +trade NN I-NP +deficit NN I-NP +'' '' O +reported VBD B-VP +yesterday NN B-NP +`` `` O +make VB B-VP +it PRP B-NP +unlikely JJ B-ADJP +that IN B-SBAR +short-term JJ B-NP +interest NN I-NP +rates NNS I-NP +will MD B-VP +rise VB I-VP +'' '' O +any DT B-NP +time NN I-NP +soon RB B-ADVP +, , O +said VBD B-VP +Mr. NNP B-NP +Mehl NNP I-NP +of IN B-PP +Banxquote NNP B-NP +. . O + +`` `` O +Even RB B-ADVP +before IN B-PP +the DT B-NP +market NN I-NP +drop NN I-NP +, , O +rates NNS B-NP +were VBD B-VP +down RB B-ADVP +about IN B-ADVP +half PDT I-ADVP +a DT B-NP +percentage NN I-NP +point NN I-NP +, , O +'' '' O +said VBD B-VP +Robert NNP B-NP +J. NNP I-NP +Hutchinson NNP I-NP +, , O +senior JJ B-NP +vice NN I-NP +president NN I-NP +for IN B-PP +retail JJ B-NP +marketing NN I-NP +at IN B-PP +Manufacturers NNP B-NP +Hanover NNP I-NP +Trust NNP I-NP +Co. NNP I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +. . O + +`` `` O +That DT B-NP +puts VBZ B-VP +pressure NN B-NP +on IN B-PP +CD NNP B-NP +rates NNS I-NP +. . O + +Conservatives NNS B-NP +have VBP B-VP +an DT B-NP +important JJ I-NP +decision NN I-NP +to TO B-VP +make VB I-VP +this DT B-NP +fall NN I-NP +. . O + +At IN B-PP +the DT B-NP +recent JJ I-NP +meetings NNS I-NP +of IN B-PP +the DT B-NP +World NNP I-NP +Bank NNP I-NP +and CC I-NP +International NNP I-NP +Monetary NNP I-NP +Fund NNP I-NP +, , O +the DT B-NP +Bush NNP I-NP +administration NN I-NP +announced VBD B-VP +its PRP$ B-NP +intention NN I-NP +to TO B-VP +decide VB I-VP +by IN B-PP +yearend NN B-NP +the DT B-NP +size NN I-NP +of IN B-PP +the DT B-NP +next JJ I-NP +increase NN I-NP +in IN B-PP +the DT B-NP +IMF NNP I-NP +'s POS B-NP +capital NN I-NP +base NN I-NP +. . O + +While IN B-SBAR +the DT B-NP +U.S. NNP I-NP +share NN I-NP +of IN B-PP +the DT B-NP +increase NN I-NP +probably RB B-ADVP +will MD B-VP +not RB I-VP +reach VB I-VP +the DT B-NP +$ $ I-NP +12 CD I-NP +billion CD I-NP +or CC B-NP +more RBR I-NP +implicit JJ B-ADJP +in IN B-PP +the DT B-NP +IMF NNP I-NP +'s POS B-NP +request NN I-NP +for IN B-PP +a DT B-NP +doubling NN I-NP +of IN B-PP +its PRP$ B-NP +$ $ I-NP +90 CD I-NP +billion CD I-NP +capital NN I-NP +, , O +the DT B-NP +administration NN I-NP +probably RB B-ADVP +will MD B-VP +agree VB I-VP +to TO B-PP +a DT B-NP +multibillion-dollar JJ I-NP +increase NN I-NP +. . O + +This DT B-NP +would MD B-VP +be VB I-VP +consistent JJ B-ADJP +with IN B-PP +its PRP$ B-NP +unwavering VBG I-NP +support NN I-NP +for IN B-PP +the DT B-NP +Brady NNP I-NP +Plan NNP I-NP +and CC O +G-7 NNP B-NP +exchange-rate NN I-NP +intervention NN I-NP +, , B-PP +and CC I-PP +with IN B-PP +its PRP$ B-NP +financial JJ I-NP +commitment NN I-NP +to TO B-PP +Mexico NNP B-NP +, , I-NP +Poland NNP I-NP +and CC I-NP +others NNS I-NP +. . O + +The DT B-NP +IMF NNP I-NP +has VBZ B-VP +several JJ B-NP +reasons NNS I-NP +for IN B-PP +requesting VBG B-VP +the DT B-NP +increase NN I-NP +. . O + +Its PRP$ B-NP +role NN I-NP +in IN B-PP +the DT B-NP +economies NNS I-NP +of IN B-PP +developing VBG B-NP +countries NNS I-NP +has VBZ B-VP +grown VBN I-VP +steadily RB B-ADVP +since IN B-PP +the DT B-NP +1970s NNS I-NP +. . O + +The DT B-NP +size NN I-NP +and CC I-NP +pace NN I-NP +of IN B-PP +disbursements NNS B-NP +will MD B-VP +accelerate VB I-VP +further JJ B-ADVP +under IN B-PP +the DT B-NP +Brady NNP I-NP +Plan NNP I-NP +, , O +which WDT B-NP +promises VBZ B-VP +larger JJR B-NP +and CC I-NP +earlier JJR I-NP +disbursements NNS I-NP +to TO B-PP +approved VBD B-NP +countries NNS I-NP +. . O + +At IN B-NP +least JJS I-NP +three CD I-NP +other JJ I-NP +factors NNS I-NP +have VBP B-VP +encouraged VBN I-VP +the DT B-NP +IMF NNP I-NP +to TO B-VP +insist VB I-VP +on IN B-PP +increased VBN B-NP +capital NN I-NP +. . O + +First RB B-LST +, , O +it PRP B-NP +argues VBZ B-VP +that IN B-SBAR +its PRP$ B-NP +capital NN I-NP +base NN I-NP +must MD B-VP +be VB I-VP +increased VBN I-VP +in IN B-PP +order NN B-NP +to TO B-VP +maintain VB I-VP +its PRP$ B-NP +size NN I-NP +relative JJ B-ADJP +to TO B-PP +world NN B-NP +financial JJ I-NP +markets NNS I-NP +, , O +for IN B-PP +which WDT B-NP +it PRP B-NP +feels VBZ B-VP +some DT B-NP +responsibility NN I-NP +. . O + +Second JJ B-LST +, , O +the DT B-NP +World NNP I-NP +Bank NNP I-NP +'s POS B-NP +recent JJ O +$ $ B-ADJP +75 CD O +billion CD O +capital NN B-NP +increase NN I-NP +-- : O +$ $ B-NP +14 CD I-NP +billion CD I-NP +from IN B-PP +the DT B-NP +U.S. NNP I-NP +-- : O +has VBZ B-VP +left VBN I-VP +the DT B-NP +IMF NNP I-NP +feeling NN B-VP +less JJR B-ADJP +than IN B-PP +first JJ B-NP +fiddle NN I-NP +among IN B-PP +international JJ B-NP +financial JJ I-NP +institutions NNS I-NP +. . O + +Third NNP B-LST +, , O +the DT B-NP +IMF NNP I-NP +would MD B-VP +like VB I-VP +to TO I-VP +meet VB I-VP +Japan NNP B-NP +'s POS B-NP +request NN I-NP +for IN B-PP +increased VBN B-NP +ownership NN I-NP +-LRB- ( O +currently RB B-NP +4.5 CD I-NP +% NN I-NP +-RRB- ) O +. . O + +Japan NNP B-NP +has VBZ B-VP +supported VBN I-VP +a DT B-NP +larger JJR I-NP +role NN I-NP +for IN B-PP +the DT B-NP +IMF NNP I-NP +in IN B-PP +developing-country JJ B-NP +debt NN I-NP +issues NNS I-NP +, , O +and CC O +is VBZ B-VP +an DT B-NP +important JJ I-NP +financial JJ I-NP +resource NN I-NP +for IN B-PP +IMF-guided JJ B-NP +programs NNS I-NP +in IN B-PP +developing VBG B-NP +countries NNS I-NP +. . O + +While IN B-SBAR +international JJ B-NP +politics NNS I-NP +may MD B-VP +argue VB I-VP +for IN B-PP +the DT B-NP +capital NN I-NP +increase NN I-NP +, , O +there EX B-NP +is VBZ B-VP +a DT B-NP +clear JJ I-NP +economic JJ I-NP +case NN I-NP +against IN B-PP +it PRP B-NP +. . O + +Opponents NNS B-NP +of IN B-PP +the DT B-NP +increase NN I-NP +argue VBP B-VP +that IN B-SBAR +the DT B-NP +IMF NNP I-NP +practices NNS B-VP +central JJ B-NP +planning NN I-NP +while IN B-SBAR +supporting VBG B-VP +ineffective JJ B-NP +governments NNS I-NP +. . O + +They PRP B-NP +question VBP B-VP +whether IN B-SBAR +the DT B-NP +IMF NNP I-NP +has VBZ B-VP +any DT B-NP +role NN I-NP +in IN B-PP +developing VBG B-NP +countries NNS I-NP +, , O +given VBN B-PP +its PRP$ B-NP +original JJ I-NP +mandate NN I-NP +to TO B-VP +assist VB I-VP +industrial JJ B-NP +countries NNS I-NP +in IN B-PP +balance-of-payments NNS B-NP +emergencies NNS I-NP +. . O + +Opponents NNS B-NP +show VBP B-VP +that IN B-SBAR +there EX B-NP +are VBP B-VP +already RB B-ADVP +more JJR B-NP +funds NNS I-NP +available JJ B-ADJP +than IN B-PP +commendable JJ B-NP +reform NN I-NP +efforts NNS I-NP +. . O + +They PRP B-NP +worry VBP B-VP +that IN O +new JJ B-NP +IMF NNP I-NP +funding NN I-NP +of IN B-PP +developing VBG B-NP +countries NNS I-NP +will MD B-VP +simply RB I-VP +end VB I-VP +up IN B-PRT +substituting VBG B-VP +IMF NNP B-NP +debt NN I-NP +for IN B-PP +reschedulable JJ B-NP +commercial JJ I-NP +bank NN I-NP +debt NN I-NP +, , O +a DT B-NP +bad JJ I-NP +trade NN I-NP +all DT B-ADVP +around RB I-ADVP +. . O + +They PRP B-NP +believe VBP B-VP +microeconomics NNS B-NP +, , O +which WDT B-NP +addresses VBZ B-VP +the DT B-NP +problems NNS I-NP +of IN B-PP +markets NNS B-NP +, , O +investment NN B-NP +climate NN I-NP +and CC O +management NN B-NP +practices NNS I-NP +, , O +is VBZ B-VP +the DT B-NP +key JJ I-NP +to TO B-PP +developing-country JJ B-NP +growth NN I-NP +, , B-NP +not RB I-NP +the DT B-NP +IMF NNP I-NP +'s POS B-NP +Keynesian JJ I-NP +focus NN I-NP +on IN B-PP +trade NN B-NP +deficits NNS I-NP +, , O +quarterly JJ B-NP +targets NNS I-NP +and CC O +government NN B-NP +debt NN I-NP +. . O + +They PRP B-NP +point VBP B-VP +at IN B-PP +the DT B-NP +numerous JJ I-NP +developing-country JJ I-NP +governments NNS I-NP +that WDT B-NP +have VBP B-VP +inflated JJ I-VP +, , I-VP +taxed VBN I-VP +and CC I-VP +regulated VBN I-VP +themselves PRP B-NP +into IN B-PP +despair NN B-NP +under IN B-PP +successive JJ B-NP +IMF NNP I-NP +programs NNS I-NP +. . O + +Decisions NNS B-NP +on IN B-PP +increases NNS B-NP +in IN B-PP +the DT B-NP +IMF NNP I-NP +'s POS B-NP +capital NN I-NP +base NN I-NP +traditionally RB B-ADVP +are VBP B-VP +made VBN I-VP +by IN B-PP +the DT B-NP +administration NN I-NP +, , O +with IN B-PP +subsequent JJ B-NP +authorization NN B-NP +by IN B-PP +Congress NNP B-NP +. . O + +The DT B-NP +last JJ I-NP +U.S. NNP I-NP +congressional JJ I-NP +authorization NN I-NP +, , O +in IN B-PP +1983 CD B-NP +, , O +was VBD B-VP +a DT B-NP +political JJ I-NP +donnybrook NN I-NP +and CC O +carried VBD B-VP +a DT B-NP +$ $ I-NP +6 CD I-NP +billion CD I-NP +housing NN I-NP +program NN I-NP +along IN B-ADVP +with IN B-PP +it PRP B-NP +to TO B-VP +secure VB I-VP +adequate JJ B-NP +votes NNS I-NP +. . O + +The DT B-NP +politics NNS I-NP +of IN B-PP +the DT B-NP +1990 CD I-NP +congressional JJ I-NP +authorization NN I-NP +are VBP B-VP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +similar JJ B-ADJP +to TO B-PP +those DT B-NP +of IN B-PP +previous JJ B-NP +authorizations NNS I-NP +. . O + +Liberals NNS B-NP +may MD B-VP +support VB I-VP +the DT B-NP +stabilizing VBG I-NP +, , I-NP +quasi-governmental JJ I-NP +role NN I-NP +of IN B-PP +the DT B-NP +IMF NNP I-NP +on IN B-PP +two CD B-NP +conditions NNS I-NP +: : O +that IN B-SBAR +the DT B-NP +administration NN I-NP +give NN B-VP +assurances NNS B-NP +that IN B-SBAR +liberal JJ B-NP +Democrats NNPS I-NP +' POS B-NP +support NN I-NP +will MD B-VP +not RB I-VP +be VB I-VP +used VBN I-VP +against IN B-PP +them PRP B-NP +in IN B-PP +congressional JJ B-NP +re-election NN I-NP +campaigns NNS I-NP +; : O +and CC O +that IN B-SBAR +the DT B-NP +legislation NN I-NP +address NN B-VP +-- : O +with IN B-PP +dollars NNS B-NP +-- : O +social JJ B-NP +and CC I-NP +environmental JJ I-NP +concerns NNS I-NP +. . O + +Conservative NNP B-NP +Republicans NNPS I-NP +will MD B-VP +be VB I-VP +given VBN I-VP +the DT B-NP +choice NN I-NP +of IN B-PP +supporting VBG B-VP +or CC I-VP +fighting VBG I-VP +their PRP$ B-NP +party NN I-NP +'s POS B-NP +popular JJ I-NP +president NN I-NP +in IN B-PP +an DT B-NP +election NN I-NP +year NN I-NP +. . O + +A DT B-NP +U.S. NNP I-NP +decision NN I-NP +to TO B-VP +refuse VB I-VP +the DT B-NP +IMF NNP I-NP +its PRP$ B-NP +capital NN I-NP +increase NN I-NP +, , O +or CC O +limit NN B-VP +it PRP B-NP +to TO B-PP +25 CD B-NP +% NN I-NP +, , O +would MD B-VP +bring VB I-VP +a DT B-NP +major JJ I-NP +change NN I-NP +in IN B-PP +international JJ B-NP +economic JJ I-NP +policy NN I-NP +, , O +and CC O +could MD B-VP +not RB I-VP +be VB I-VP +taken VBN I-VP +lightly RB B-ADVP +. . O + +Commentators NNS B-NP +would MD B-VP +fret VB I-VP +over IN B-PP +the DT B-NP +implications NNS I-NP +for IN B-PP +the DT B-NP +G-7 NNP I-NP +coordination NN I-NP +process NN I-NP +and CC O +the DT B-NP +stability NN I-NP +of IN B-PP +world NN B-NP +financial JJ I-NP +markets NNS I-NP +. . O + +Because IN B-SBAR +commercial JJ B-NP +banks NNS I-NP +and CC O +the DT B-NP +developing-country JJ I-NP +governments NNS I-NP +believe VBP B-VP +they PRP B-NP +will MD B-VP +get VB I-VP +a DT B-NP +piece NN I-NP +of IN B-PP +any DT B-NP +capital NN I-NP +increase NN I-NP +, , O +a DT B-NP +scaled-down JJ I-NP +IMF NNP I-NP +mission NN I-NP +would MD B-VP +leave VB I-VP +both DT B-NP +feeling NN B-VP +shortchanged VBN B-ADJP +. . O + +Furthermore RB B-ADVP +, , O +a DT B-NP +U.S. NNP I-NP +rejection NN I-NP +of IN B-PP +the DT B-NP +capital NN I-NP +increase NN I-NP +-LRB- ( O +and CC O +transfer NN B-NP +of IN B-PP +shares NNS B-NP +to TO B-PP +Japan NNP B-NP +-RRB- ) O +would MD B-VP +give VB I-VP +Japan NNP B-NP +an DT B-NP +argument NN I-NP +against IN B-PP +future NN B-NP +calls VBZ I-NP +for IN B-PP +economic JJ B-NP +burden-sharing NN I-NP +. . O + +On IN B-PP +the DT B-NP +other JJ I-NP +hand NN I-NP +, , O +a DT B-NP +decision NN I-NP +to TO B-VP +increase VB I-VP +the DT B-NP +IMF NNP I-NP +'s POS B-NP +capital NN I-NP +would MD B-VP +reinforce VB I-VP +the DT B-NP +central JJ I-NP +economic JJ I-NP +role NN I-NP +of IN B-PP +multilateral JJ B-NP +institutions NNS I-NP +in IN B-PP +developing VBG B-NP +countries NNS I-NP +. . O + +With IN B-PP +the DT B-NP +increase NN I-NP +, , O +even RB B-NP +more RBR I-NP +developing-country JJ I-NP +energy NN I-NP +and CC I-NP +talent NN I-NP +would MD B-VP +be VB I-VP +diverted VBN I-VP +from IN B-PP +creating VBG B-VP +profitable JJ B-NP +economic JJ I-NP +systems NNS I-NP +to TO B-PP +setting VBG B-VP +up IN B-PRT +economic JJ B-NP +planning NN I-NP +ministries NNS I-NP +that WDT B-NP +generate VBP B-VP +IMF-approved JJ B-NP +economic JJ I-NP +plans NNS I-NP +. . O + +Upping VBG B-VP +the DT B-NP +ante NN I-NP +could MD B-VP +slow VB I-VP +economic JJ B-NP +development NN I-NP +even RB B-ADVP +further RBR I-ADVP +, , O +as IN B-SBAR +countries NNS B-NP +delay VBP B-VP +market-opening JJ B-NP +steps NNS I-NP +in IN B-PP +anticipation NN B-NP +of IN B-PP +richer JJR B-NP +multilateral JJ I-NP +support NN I-NP +. . O + +Conservatives NNS B-NP +should MD B-VP +take VB I-VP +a DT B-NP +position NN I-NP +prior RB B-PP +to TO B-PP +the DT B-NP +administration NN I-NP +'s POS B-NP +year-end NN I-NP +deadline NN I-NP +. . O + +The DT B-NP +issues NNS I-NP +are VBP B-VP +too RB B-ADJP +important JJ I-ADJP +to TO B-VP +be VB I-VP +left VBN I-VP +to TO B-PP +the DT B-NP +financial JJ I-NP +and CC I-NP +budget NN I-NP +ministries NNS I-NP +fighting VBG B-VP +over IN B-PP +the DT B-NP +size NN I-NP +of IN B-PP +the DT B-NP +capital NN I-NP +increase NN I-NP +, , O +rather RB B-PP +than IN I-PP +its PRP$ B-NP +purpose NN I-NP +. . O + +If IN B-SBAR +conservatives NNS B-NP +do VBP B-VP +n't RB I-VP +support VB I-VP +an DT B-NP +increase NN I-NP +in IN B-PP +the DT B-NP +IMF NNP I-NP +'s POS B-NP +capital NN I-NP +, , O +then RB B-ADVP +it PRP B-NP +is VBZ B-VP +incumbent JJ B-ADJP +on IN B-PP +them PRP B-NP +to TO O +speak VB B-VP +up IN B-PRT +now RB B-ADVP +and CC O +explain VB B-VP +the DT B-NP +alternative NN I-NP +. . O + +Mr. NNP B-NP +Malpass NNP I-NP +directs VBZ B-VP +the DT B-NP +Republican NNP I-NP +staff NN I-NP +of IN B-PP +the DT B-NP +Joint NNP I-NP +Economic NNP I-NP +Committee NNP I-NP +of IN B-PP +Congress NNP B-NP +. . O + +The DT B-NP +Chicago NNP I-NP +Mercantile NNP I-NP +Exchange NNP I-NP +fined VBD B-VP +and CC I-VP +suspended VBN I-VP +two CD B-NP +commodities NNS I-NP +traders NNS I-NP +accused VBN B-VP +of IN B-PP +making VBG B-VP +prearranged VBN B-NP +trades NNS I-NP +with IN B-PP +each DT B-NP +other NN I-NP +that IN B-NP +allegedly RB B-ADVP +cheated VBN B-VP +a DT B-NP +customer NN I-NP +. . O + +Merc NN B-NP +officials NNS I-NP +said VBD B-VP +Gary NNP B-NP +N. NNP I-NP +Roberts NNP I-NP +was VBD B-VP +disciplined VBN I-VP +following VBG B-PP +the DT B-NP +exchange NN I-NP +'s POS B-NP +investigation NN I-NP +of IN B-PP +his PRP$ B-NP +trading NN I-NP +in IN B-PP +several JJ B-NP +commodities NNS I-NP +pits NNS I-NP +from IN B-PP +July NNP B-NP +to TO B-PP +November NNP B-NP +1988 CD I-NP +. . O + +The DT B-NP +Merc NNP I-NP +said VBD B-VP +Mr. NNP B-NP +Roberts NNP I-NP +withheld VBD B-VP +from IN B-PP +the DT B-NP +market NN I-NP +certain JJ B-NP +orders NNS I-NP +in IN B-PP +cooperation NN B-NP +with IN B-PP +another DT B-NP +trader NN I-NP +, , O +David NNP B-NP +Stein NNP I-NP +. . O + +The DT B-NP +Merc NNP I-NP +fined VBD B-VP +Mr. NNP B-NP +Roberts NNP I-NP +$ $ B-NP +15,000 CD I-NP +and CC O +suspended VBN B-VP +his PRP$ B-NP +trading NN I-NP +membership NN I-NP +for IN B-PP +three CD B-NP +years NNS I-NP +. . O + +Also RB B-ADVP +, , O +he PRP B-NP +and CC O +Mr. NNP B-NP +Stein NNP I-NP +were VBD B-VP +ordered VBN I-VP +to TO I-VP +make VB I-VP +restitution NN B-NP +of IN B-PP +$ $ B-NP +35,000 CD I-NP +to TO B-PP +a DT B-NP +customer NN I-NP +. . O + +Mr. NNP B-NP +Stein NNP I-NP +was VBD B-VP +fined VBN I-VP +$ $ B-NP +25,000 CD I-NP +and CC O +suspended VBN B-VP +for IN B-PP +three CD B-NP +years NNS I-NP +. . O + +Messrs. NNP B-NP +Roberts NNP I-NP +and CC I-NP +Stein NNP I-NP +could MD B-VP +n't RB I-VP +be VB I-VP +reached VBN I-VP +for IN B-PP +comment NN B-NP +. . O + +The DT B-NP +Merc NNP I-NP +said VBD B-VP +that IN B-SBAR +as IN B-PP +part NN B-NP +of IN B-PP +the DT B-NP +disciplinary JJ I-NP +settlement NN I-NP +, , O +neither DT B-NP +man NN I-NP +admitted VBD B-VP +, , I-VP +nor CC I-VP +denied VBD I-VP +the DT B-NP +alleged VBN I-NP +violations NNS I-NP +. . O + +Neither CC B-NP +was VBD B-VP +among IN B-PP +the DT B-NP +46 CD I-NP +traders NNS I-NP +indicted VBD B-VP +last JJ B-NP +August NNP I-NP +in IN B-PP +a DT B-NP +federal JJ I-NP +investigation NN I-NP +of IN B-PP +traders NNS B-NP +at IN B-PP +both DT O +the DT B-NP +Merc NNP I-NP +and CC O +the DT B-NP +Chicago NNP I-NP +Board NNP I-NP +of IN B-PP +Trade NNP B-NP +. . O + +In IN B-PP +a DT B-NP +move NN I-NP +that WDT B-NP +could MD B-VP +pose VB I-VP +a DT B-NP +new JJ I-NP +competitive JJ I-NP +challenge NN I-NP +to TO B-PP +Time NNP B-NP +Warner NNP I-NP +Inc. NNP I-NP +'s POS B-NP +powerful JJ I-NP +Home NNP I-NP +Box NNP I-NP +Office NNP I-NP +, , O +cable NN B-NP +giant NN I-NP +Tele-Communications NNP I-NP +Inc. NNP I-NP +agreed VBD B-VP +to TO I-VP +buy VB I-VP +half NN B-NP +of IN B-PP +Showtime NNP B-NP +Networks NNP I-NP +Inc. NNP I-NP +from IN B-PP +Viacom NNP B-NP +Inc. NNP I-NP +for IN B-PP +$ $ B-NP +225 CD I-NP +million CD I-NP +. . O + +The DT B-NP +purchase NN I-NP +comes VBZ B-VP +after IN B-PP +nearly RB B-NP +three CD I-NP +years NNS I-NP +of IN B-PP +on-again JJ B-NP +off-again JJ I-NP +talks NNS I-NP +between IN B-PP +TCI NNP B-NP +and CC O +Viacom NNP B-NP +, , O +which WDT B-NP +has VBZ B-VP +also RB I-VP +discussed VBN I-VP +the DT B-NP +sale NN I-NP +of IN B-PP +an DT B-NP +interest NN I-NP +in IN B-PP +Showtime NNP B-NP +with IN B-PP +other JJ B-NP +cable NN I-NP +operators NNS I-NP +. . O + +Showtime NNP B-NP +is VBZ B-VP +a DT B-NP +distant JJ I-NP +No. NN I-NP +2 CD I-NP +to TO B-PP +Home NNP B-NP +Box NNP I-NP +Office NNP I-NP +, , O +and CC O +in IN B-PP +May NNP B-NP +filed VBD B-VP +a DT B-NP +$ $ I-NP +2.5 CD I-NP +billion CD I-NP +antitrust JJ I-NP +suit NN I-NP +against IN B-PP +Time NNP B-NP +Warner NNP I-NP +, , O +charging VBG B-VP +the DT B-NP +company NN I-NP +and CC O +its PRP$ B-NP +HBO NNP I-NP +and CC I-NP +American NNP I-NP +Television NNP I-NP +cable NN I-NP +units NNS I-NP +with IN B-PP +conspiring VBG B-VP +to TO I-VP +monopolize VB I-VP +the DT B-NP +pay NN I-NP +TV NN I-NP +business NN I-NP +. . O + +HBO NNP B-NP +has VBZ B-VP +close RB B-NP +to TO I-NP +24 CD I-NP +million CD I-NP +subscribers NNS I-NP +to TO B-PP +its PRP$ B-NP +HBO NNP I-NP +and CC I-NP +Cinemax NNP I-NP +networks NNS I-NP +, , O +while IN B-SBAR +Showtime NNP B-NP +and CC O +its PRP$ B-NP +sister NN I-NP +service NN I-NP +, , O +The DT B-NP +Movie NNP I-NP +Channel NNP I-NP +, , O +have VBP B-VP +only RB B-NP +about IN I-NP +10 CD I-NP +million CD I-NP +, , O +according VBG B-PP +to TO B-PP +Paul NNP B-NP +Kagan NNP I-NP +Associates NNPS I-NP +, , O +a DT B-NP +Carmel NNP I-NP +, , I-NP +Calif. NNP I-NP +, , I-NP +research NN I-NP +firm NN I-NP +. . O + +For IN B-PP +TCI NNP B-NP +, , O +the DT B-NP +investment NN I-NP +in IN B-PP +Showtime NNP B-NP +puts VBZ B-VP +it PRP B-NP +in IN B-PP +an DT B-NP +unusual JJ I-NP +position NN I-NP +; : O +as IN B-PP +the DT B-NP +largest JJS I-NP +cable NN I-NP +operator NN I-NP +, , O +with IN B-PP +control NN B-NP +of IN B-PP +close RB B-NP +to TO I-NP +12 CD I-NP +million CD I-NP +of IN B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +52 CD I-NP +million CD I-NP +cable NN I-NP +subscribers NNS I-NP +, , O +TCI NNP B-NP +is VBZ B-VP +HBO NNP B-NP +'s POS B-NP +largest JJS I-NP +customer NN I-NP +. . O + +But CC O +TCI NNP B-NP +President NNP I-NP +John NNP I-NP +Malone NNP I-NP +has VBZ B-VP +long RB I-VP +been VBN I-VP +concerned VBN I-VP +about IN B-PP +HBO NNP B-NP +'s POS B-NP +dominance NN I-NP +of IN B-PP +the DT B-NP +pay NN I-NP +TV NN I-NP +business NN I-NP +, , O +and CC O +has VBZ B-VP +been VBN I-VP +eager JJ B-ADJP +to TO B-VP +keep VB I-VP +Showtime NNP B-NP +as IN B-PP +a DT B-NP +healthy JJ I-NP +competitor NN I-NP +. . O + +`` `` O +It PRP B-NP +is VBZ B-VP +important JJ B-ADJP +to TO B-PP +the DT B-NP +cable NN I-NP +industry NN I-NP +that IN B-SBAR +we PRP B-NP +have VBP B-VP +a DT B-NP +vibrant JJ I-NP +and CC I-NP +competitive JJ I-NP +pay-television NN I-NP +marketplace NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Malone NNP I-NP +said VBD B-VP +in IN B-PP +a DT B-NP +statement NN I-NP +. . O + +In IN B-PP +a DT B-NP +telephone NN I-NP +interview NN I-NP +, , O +Robert NNP B-NP +Thomson NNP I-NP +, , O +TCI NNP B-NP +senior JJ I-NP +vice NN I-NP +president NN I-NP +, , O +said VBD B-VP +Showtime NNP B-NP +'s POS B-NP +suit NN I-NP +against IN B-PP +HBO NNP B-NP +`` `` O +does VBZ B-VP +n't RB I-VP +involve VB I-VP +us PRP B-NP +, , O +and CC O +nothing NN B-NP +we PRP B-NP +'re VBP B-VP +doing VBG I-VP +here RB B-ADVP +bears VBZ B-VP +any DT B-NP +relationship NN I-NP +to TO B-PP +that DT B-NP +. . O +'' '' O + +He PRP B-NP +added VBD B-VP +, , O +`` `` O +We PRP B-NP +do VBP B-VP +n't RB I-VP +intend VB I-VP +to TO I-VP +be VB I-VP +drawn VBN I-VP +into IN B-PP +it PRP B-NP +, , O +'' '' O +noting VBG B-VP +that IN B-SBAR +TCI NNP B-NP +wo MD B-VP +n't RB I-VP +play VB I-VP +any DT B-NP +active JJ I-NP +role NN I-NP +in IN B-PP +the DT B-NP +management NN I-NP +of IN B-PP +Showtime NNP B-NP +. . O + +Linking VBG B-VP +up IN B-PRT +Showtime NNP B-NP +with IN B-PP +the DT B-NP +largest JJS I-NP +cable NN I-NP +operator NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +could MD B-VP +sharply RB I-VP +boost VB I-VP +its PRP$ B-NP +subscribers NNS I-NP +. . O + +TCI NNP B-NP +said VBD B-VP +it PRP B-NP +may MD B-VP +bring VB I-VP +in IN B-ADVP +other JJ B-NP +cable NN I-NP +operators NNS I-NP +as IN B-PP +investors NNS B-NP +, , O +a DT B-NP +practice NN I-NP +it PRP B-NP +has VBZ B-VP +employed VBN I-VP +in IN B-PP +the DT B-NP +past NN I-NP +with IN B-PP +investments NNS B-NP +in IN B-PP +other JJ B-NP +cable NN I-NP +networks NNS I-NP +, , O +such JJ B-PP +as IN I-PP +The DT B-NP +Discovery NNP I-NP +Channel NNP I-NP +. . O + +Additional JJ B-NP +cable NN I-NP +partners NNS I-NP +could MD B-VP +boost VB I-VP +subscribers NNS B-NP +even RB B-ADVP +further JJ I-ADVP +. . O + +Time NNP B-NP +Warner NNP I-NP +declined VBD B-VP +comment VB B-NP +. . O + +In IN B-PP +addition NN B-NP +to TO B-PP +owning VBG B-VP +HBO NNP B-NP +, , O +Time NNP B-NP +Warner NNP I-NP +owns VBZ B-VP +American NNP B-NP +Television NNP I-NP +& CC I-NP +Communications NNP I-NP +Inc. NNP I-NP +, , O +the DT B-NP +nation NN I-NP +'s POS B-NP +second JJ I-NP +largest JJS I-NP +cable NN I-NP +operator NN I-NP +after IN B-PP +TCI NNP B-NP +. . O + +Viacom NNP B-NP +also RB B-ADVP +owns VBZ B-VP +cable NN B-NP +systems NNS I-NP +, , O +but CC O +it PRP B-NP +is VBZ B-VP +the DT B-NP +14th JJ I-NP +largest JJS I-NP +operator NN I-NP +of IN B-PP +such JJ B-NP +systems NNS I-NP +, , O +with IN B-PP +less JJR B-NP +than IN I-NP +one CD I-NP +million CD I-NP +subscribers NNS I-NP +. . O + +The DT B-NP +TCI NNP I-NP +investment NN I-NP +is VBZ B-VP +a DT B-NP +big JJ I-NP +victory NN I-NP +for IN B-PP +Viacom NNP B-NP +'s POS B-NP +chief JJ I-NP +executive JJ I-NP +officer NN I-NP +, , O +Frank NNP B-NP +Biondi NNP I-NP +, , O +and CC O +Winston NNP B-NP +H. NNP I-NP +Cox NNP I-NP +, , O +president NN B-NP +of IN B-PP +the DT B-NP +Showtime NNP I-NP +unit NN I-NP +. . O + +`` `` O +This DT B-NP +takes VBZ B-VP +any DT B-NP +question NN I-NP +of IN B-PP +Showtime NNP B-NP +'s POS B-NP +viability NN I-NP +and CC O +puts VBZ B-VP +it PRP B-NP +away RB B-ADVP +once RB B-ADVP +and CC O +for IN B-PP +all DT B-NP +, , O +'' '' O +Mr. NNP B-NP +Biondi NNP I-NP +said VBD B-VP +in IN B-PP +a DT B-NP +telephone NN I-NP +interview NN I-NP +. . O + +The DT B-NP +fight NN I-NP +between IN B-PP +HBO NNP B-NP +and CC O +Showtime NNP B-NP +is VBZ B-VP +particularly RB B-ADJP +acrimonious JJ I-ADJP +because IN B-SBAR +Mr. NNP B-NP +Biondi NNP I-NP +is VBZ B-VP +the DT B-NP +former JJ I-NP +chief JJ I-NP +executive NN I-NP +of IN B-PP +HBO NNP B-NP +, , O +and CC O +Mr. NNP B-NP +Cox NNP I-NP +served VBD B-VP +as IN B-PP +chief NN B-NP +of IN B-PP +marketing NN B-NP +for IN B-PP +the DT B-NP +service NN I-NP +. . O + +They PRP B-NP +were VBD B-VP +both DT I-VP +hired VBN I-VP +by IN B-PP +Sumner NNP B-NP +Redstone NNP I-NP +, , O +the DT B-NP +Boston NNP I-NP +billionaire NN I-NP +who WP B-NP +took VBD B-VP +control NN B-NP +of IN B-PP +Viacom NNP B-NP +three CD B-NP +years NNS I-NP +ago RB B-ADVP +in IN B-PP +a DT B-NP +leveraged JJ I-NP +buy-out NN I-NP +. . O + +Time NNP B-NP +Warner NNP I-NP +has VBZ B-VP +vigorously RB I-VP +denied VBN I-VP +all DT B-NP +of IN B-PP +Viacom NNP B-NP +'s POS B-NP +allegations NNS I-NP +. . O + +Boeing NNP B-NP +Co. NNP I-NP +, , O +already RB B-VP +struck VBN I-VP +by IN B-PP +its PRP$ B-NP +Machinists NNS I-NP +union NN I-NP +, , O +briefly NN B-ADVP +called VBN B-VP +off IN B-PRT +contract NN B-NP +talks NNS I-NP +with IN B-PP +its PRP$ B-NP +engineers NNS I-NP +and CC O +labeled VBN B-VP +their PRP$ B-NP +demands NNS I-NP +`` `` O +grossly RB B-ADJP +excessive JJ I-ADJP +. . O +'' '' O + +Later RB B-ADVP +, , O +however RB B-ADVP +, , O +the DT B-NP +company NN I-NP +agreed VBD B-VP +to TO I-VP +meet VB I-VP +on IN B-PP +Monday NNP B-NP +with IN B-PP +the DT B-NP +Seattle NNP I-NP +Professional NNP I-NP +Engineering NNP I-NP +Employees NNP I-NP +Association NNP I-NP +after IN B-SBAR +a DT B-NP +federal JJ I-NP +mediator NN I-NP +intervened VBD B-VP +, , O +according VBG B-PP +to TO B-PP +the DT B-NP +union NN I-NP +. . O + +A DT B-NP +spokesman NN I-NP +for IN B-PP +the DT B-NP +engineers NNS I-NP +said VBD B-VP +the DT B-NP +company NN I-NP +asked VBD B-VP +the DT B-NP +union NN I-NP +to TO B-VP +reduce VB I-VP +its PRP$ B-NP +demands NNS I-NP +, , O +which WDT B-NP +included VBD B-VP +a DT B-NP +19 CD I-NP +% NN I-NP +pay NN I-NP +hike NN I-NP +in IN B-PP +the DT B-NP +first JJ I-NP +year NN I-NP +and CC O +8 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +second JJ I-NP +and CC I-NP +third JJ I-NP +years NNS I-NP +. . O + +The DT B-NP +union NN I-NP +represents VBZ B-VP +about IN B-NP +28,000 CD I-NP +engineers NNS I-NP +and CC I-NP +technical JJ I-NP +workers NNS I-NP +. . O + +Its PRP$ B-NP +contract NN I-NP +expires VBZ B-VP +Dec. NNP B-NP +1 CD I-NP +. . O + +Meanwhile RB B-ADVP +, , O +a DT B-NP +federal JJ I-NP +mediator NN I-NP +is VBZ B-VP +scheduled VBN I-VP +to TO I-VP +meet VB I-VP +today NN B-NP +with IN B-PP +Boeing NNP B-NP +officials NNS I-NP +and CC O +representatives NNS B-NP +of IN B-PP +55,000 CD B-NP +striking JJ I-NP +Machinists NNS I-NP +. . O + +`` `` O +It PRP B-NP +will MD B-VP +take VB I-VP +several JJ B-NP +meetings NNS I-NP +to TO B-VP +resolve VB I-VP +this DT B-NP +, , O +'' '' O +said VBD B-VP +a DT B-NP +spokesman NN I-NP +for IN B-PP +the DT B-NP +Machinists NNS I-NP +union NN I-NP +. . O + +`` `` O +We PRP B-NP +do VBP B-VP +n't RB I-VP +want VB I-VP +to TO I-VP +bring VB I-VP +back JJ B-ADVP +something NN B-NP +the DT B-NP +members NNS I-NP +will MD B-VP +reject VB I-VP +. . O +'' '' O + +Machinists NNS B-NP +already RB B-ADVP +have VBP B-VP +rejected VBN I-VP +a DT B-NP +package NN I-NP +that WDT B-NP +would MD B-VP +have VB I-VP +provided VBN I-VP +a DT B-NP +10 CD I-NP +% NN I-NP +pay NN I-NP +raise NN I-NP +plus CC O +bonuses NNS B-NP +over IN B-PP +the DT B-NP +three-year JJ I-NP +life NN I-NP +of IN B-PP +the DT B-NP +contract NN I-NP +. . O + +It PRP B-NP +also RB B-ADVP +would MD B-VP +have VB I-VP +reduced VBN I-VP +mandatory JJ B-NP +overtime NN I-NP +. . O + +Investor NNP B-NP +Asher NNP I-NP +Edelman NNP I-NP +increased VBD B-VP +his PRP$ B-NP +stake NN I-NP +in IN B-PP +Intelogic NNP B-NP +Trace NNP I-NP +Inc. NNP I-NP +and CC O +cleared VBD B-VP +the DT B-NP +way NN I-NP +for IN B-PP +additional JJ B-NP +purchases NNS I-NP +. . O + +It PRP B-NP +was VBD B-VP +n't RB O +clear JJ B-ADJP +, , O +however RB B-ADVP +, , O +whether IN B-SBAR +the DT B-NP +actions NNS I-NP +were VBD B-VP +related VBN I-VP +to TO B-PP +a DT B-NP +battle NN I-NP +between IN B-PP +the DT B-NP +corporate JJ I-NP +raider NN I-NP +and CC O +New NNP B-NP +York NNP I-NP +attorney NN I-NP +Martin NNP I-NP +Ackerman NNP I-NP +for IN B-PP +control NN B-NP +of IN B-PP +Datapoint NNP B-NP +Corp. NNP I-NP +, , O +a DT B-NP +San NNP I-NP +Antonio NNP I-NP +, , I-NP +Texas-based JJ I-NP +data-processing NN I-NP +systems NNS I-NP +maker NN I-NP +. . O + +Intelogic NNP B-NP +Trace NNP I-NP +, , O +a DT B-NP +computer NN I-NP +services NNS I-NP +company NN I-NP +, , O +was VBD B-VP +spun VBN I-VP +off IN B-PRT +to TO B-PP +Datapoint NNP B-NP +holders NNS I-NP +in IN B-PP +1985 CD B-NP +, , O +after IN B-SBAR +Mr. NNP B-NP +Edelman NNP I-NP +gained VBD B-VP +control NN B-NP +. . O + +After IN B-SBAR +Mr. NNP B-NP +Ackerman NNP I-NP +announced VBD B-VP +he PRP B-NP +was VBD B-VP +soliciting VBG I-VP +consents NNS B-NP +from IN B-PP +shareholders NNS B-NP +in IN B-PP +order NN B-NP +to TO B-VP +wrest VB I-VP +control NN B-NP +of IN B-PP +Datapoint NNP B-NP +from IN B-PP +Mr. NNP B-NP +Edelman NNP I-NP +, , O +the DT B-NP +corporate JJ I-NP +raider NN I-NP +purchased VBN B-VP +30 CD B-NP +% NN I-NP +of IN B-PP +Datapoint NNP B-NP +'s POS B-NP +shares NNS I-NP +. . O + +In IN B-PP +a DT B-NP +Securities NNP I-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +filing NN I-NP +, , O +Mr. NNP B-NP +Edelman NNP I-NP +said VBD B-VP +from IN B-PP +Sept. NNP B-NP +29 CD I-NP +to TO B-PP +Oct. NNP B-NP +13 CD I-NP +, , O +he PRP B-NP +acquired VBD B-VP +309,500 CD B-NP +shares NNS I-NP +of IN B-PP +Intelogic NNP B-NP +common JJ I-NP +shares NNS I-NP +for IN B-PP +$ $ B-NP +2.25 CD I-NP +to TO I-NP +$ $ I-NP +2.375 CD I-NP +each DT B-NP +. . O + +The DT B-NP +purchases NNS I-NP +increased VBD B-VP +his PRP$ B-NP +stake NN I-NP +to TO B-PP +16.2 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +shares NNS I-NP +outstanding JJ B-ADJP +. . O + +The DT B-NP +filing NN I-NP +also RB B-ADVP +said VBD B-VP +certain JJ B-NP +provisions NNS I-NP +which WDT B-NP +apply VBP B-VP +to TO B-PP +persons NNS B-NP +acquiring VBG B-VP +20 CD B-NP +% NN I-NP +or CC I-NP +more JJR I-NP +of IN B-PP +Intelogic NNP B-NP +common JJ I-NP +stock NN I-NP +, , O +were VBD B-VP +waived VBN I-VP +by IN B-PP +Intelogic NNP B-NP +for IN B-PP +Mr. NNP B-NP +Edelman NNP I-NP +, , O +who WP B-NP +is VBZ B-VP +chairman NN B-NP +of IN B-PP +the DT B-NP +company NN I-NP +. . O + +Mr. NNP B-NP +Edelman NNP I-NP +could MD B-VP +n't RB I-VP +be VB I-VP +reached VBN I-VP +for IN B-PP +comment NN B-NP +. . O + +The DT B-NP +federal JJ I-NP +government NN I-NP +should MD B-VP +make VB I-VP +free JJ B-NP +, , I-NP +voluntary JJ I-NP +testing NN I-NP +for IN B-PP +the DT B-NP +AIDS NNP I-NP +virus NN I-NP +the DT B-NP +cornerstone NN I-NP +of IN B-PP +an DT B-NP +expanded VBN I-NP +campaign NN I-NP +to TO B-VP +stop VB I-VP +the DT B-NP +spread NN I-NP +of IN B-PP +acquired VBN B-NP +immune JJ I-NP +deficiency NN I-NP +syndrome NN I-NP +, , O +the DT B-NP +Hudson NNP I-NP +Institute NNP I-NP +recommended VBD B-VP +. . O + +`` `` O +By IN B-PP +encouraging VBG B-VP +massive JJ B-NP +, , I-NP +routine JJ I-NP +, , I-NP +voluntary JJ I-NP +testing NN I-NP +we PRP B-NP +can MD B-VP +enable VB I-VP +society NN B-NP +to TO B-VP +voluntarily RB I-VP +segregate VB I-VP +itself PRP B-NP +sexually RB B-ADVP +into IN B-PP +two CD B-NP +groups NNS I-NP +: : O +those DT B-NP +who WP B-NP +carry VBP B-VP +the DT B-NP +virus NN I-NP +and CC O +those DT B-NP +who WP B-NP +do VBP B-VP +not RB O +, , O +'' '' O +the DT B-NP +Indianapolis NNP I-NP +research NN I-NP +organization NN I-NP +said VBD B-VP +in IN B-PP +a DT B-NP +new JJ I-NP +report NN I-NP +. . O + +The DT B-NP +report NN I-NP +takes VBZ B-VP +a DT B-NP +more RBR I-NP +alarmed VBN I-NP +view NN I-NP +of IN B-PP +AIDS NNP B-NP +and CC O +recommends VBZ B-VP +a DT B-NP +more JJR I-NP +sweeping VBG I-NP +response NN I-NP +than IN B-PP +many JJ B-NP +other JJ I-NP +analyses NNS I-NP +. . O + +It PRP B-NP +warns VBZ B-VP +that IN B-SBAR +the DT B-NP +AIDS NNP I-NP +epidemic NN I-NP +`` `` O +may MD B-VP +reduce VB I-VP +the DT B-NP +rate NN I-NP +of IN B-PP +growth NN B-NP +of IN B-PP +the DT B-NP +work NN I-NP +force NN I-NP +, , O +curb VB B-VP +productivity NN B-NP +gains NNS I-NP +and CC O +slow JJ B-VP +economic JJ B-NP +growth NN I-NP +. . O +'' '' O + +It PRP B-NP +contends VBZ B-VP +that IN B-SBAR +current JJ B-NP +government NN I-NP +policy NN I-NP +is VBZ B-VP +failing VBG I-VP +to TO I-VP +stem VB I-VP +the DT B-NP +AIDS NNP I-NP +epidemic NN I-NP +because IN B-SBAR +it PRP B-NP +suggests VBZ B-VP +the DT B-NP +use NN I-NP +of IN B-PP +condoms NNS B-NP +can MD B-VP +make VB I-VP +sex NN B-NP +`` `` O +safe JJ B-ADJP +. . O +'' '' O + +But CC O +the DT B-NP +report NN I-NP +says VBZ B-VP +: : O +`` `` O +The DT B-NP +only RB I-NP +safe JJ I-NP +sex NN I-NP +is VBZ B-VP +sex NN B-NP +between IN B-PP +uninfected JJ B-NP +partners NNS I-NP +, , O +'' '' O +and CC O +testing NN B-NP +is VBZ B-VP +the DT B-NP +only JJ I-NP +way NN I-NP +to TO B-VP +learn VB I-VP +of IN B-PP +infection NN B-NP +. . O + +Hudson NNP B-NP +'s POS B-NP +researchers NNS I-NP +estimated VBN B-VP +that IN B-SBAR +it PRP B-NP +would MD B-VP +cost VB I-VP +less JJR B-NP +than IN I-NP +$ $ I-NP +650 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +to TO B-VP +test VB I-VP +the DT B-NP +entire JJ I-NP +population NN I-NP +between IN B-PP +the DT B-NP +ages NNS I-NP +of IN B-PP +12 CD B-NP +and CC I-NP +65 CD I-NP +years NNS I-NP +old JJ B-ADJP +. . O + +In IN B-PP +addition NN B-NP +, , O +the DT B-NP +report NN I-NP +recommends VBZ B-VP +that IN B-SBAR +federal JJ B-NP +and CC I-NP +state NN I-NP +governments NNS I-NP +provide VBP B-VP +free JJ B-NP +treatment NN I-NP +to TO B-PP +all DT B-NP +who WP B-NP +test VBP B-VP +positive JJ B-ADJP +. . O + +An DT B-NP +unexpectedly RB I-NP +sharp JJ I-NP +widening NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +trade NN I-NP +gap NN I-NP +for IN B-PP +August NNP B-NP +dragged VBD B-VP +the DT B-NP +dollar NN I-NP +lower JJR B-ADVP +Tuesday NNP B-NP +, , O +but CC O +profit-taking NN B-NP +on IN B-PP +short JJ B-NP +positions NNS I-NP +helped VBD B-VP +the DT B-NP +currency NN I-NP +rebound NN B-VP +to TO I-VP +close VB I-VP +mixed VBN B-ADJP +against IN B-PP +major JJ B-NP +counterparts NNS I-NP +. . O + +While IN B-SBAR +the DT B-NP +market NN I-NP +kept VBD B-VP +careful JJ B-NP +tabs NNS I-NP +on IN B-PP +Wall NNP B-NP +Street NNP I-NP +'s POS B-NP +gyrations NNS I-NP +, , O +it PRP B-NP +shrugged VBD B-VP +off IN B-PRT +a DT B-NP +modest JJ I-NP +downturn NN I-NP +in IN B-PP +equities NNS B-NP +to TO B-VP +bid VB I-VP +the DT B-NP +dollar NN I-NP +well RB B-ADVP +above IN B-PP +the DT B-NP +day NN I-NP +'s POS B-NP +lows NNS I-NP +. . O + +Soon RB B-ADVP +after IN B-PP +the DT B-NP +release NN I-NP +of IN B-PP +the DT B-NP +U.S. NNP I-NP +trade NN I-NP +figures NNS I-NP +, , O +the DT B-NP +dollar NN I-NP +plunged VBD B-VP +to TO B-PP +an DT B-NP +intraday JJ I-NP +low NN I-NP +of IN B-PP +140.95 CD B-NP +yen NN I-NP +. . O + +It PRP B-NP +also RB B-ADVP +declined VBD B-VP +against IN B-PP +the DT B-NP +mark NN I-NP +but CC O +did VBD B-VP +n't RB I-VP +reach VB I-VP +its PRP$ B-NP +intraday JJ I-NP +low NN I-NP +of IN B-PP +1.8435 CD B-NP +marks NNS I-NP +until IN B-PP +two CD B-NP +hours NNS I-NP +later RB B-ADVP +. . O + +The DT B-NP +unit NN I-NP +stabilized VBN B-VP +about IN B-NP +midday NN I-NP +New NNP B-NP +York NNP I-NP +time NN I-NP +at IN B-PP +around IN B-NP +1.85 CD I-NP +marks NNS I-NP +and CC O +141 CD B-NP +yen NN I-NP +, , O +prompting VBG B-VP +unconfirmed JJ B-NP +rumors NNS I-NP +that IN B-SBAR +the DT B-NP +U.S. NNP I-NP +Federal NNP I-NP +Reserve NNP I-NP +had VBD B-VP +intervened VBN I-VP +to TO B-VP +blunt VB I-VP +the DT B-NP +unit NN I-NP +'s POS B-NP +tumble NN I-NP +. . O + +The DT B-NP +dollar NN I-NP +finished VBD B-VP +at IN B-PP +its PRP$ B-NP +intraday JJ I-NP +highs NNS I-NP +. . O + +Dealers NNS B-NP +noted VBD B-VP +that IN B-SBAR +the DT B-NP +foreign JJ I-NP +exchange NN I-NP +market NN I-NP +'s POS B-NP +initial JJ I-NP +bearish JJ I-NP +reaction NN I-NP +to TO B-PP +the DT B-NP +U.S. NNP I-NP +trade NN I-NP +figures NNS I-NP +was VBD B-VP +tempered VBN I-VP +later RB B-ADVP +by IN B-PP +a DT B-NP +`` `` I-NP +calmer JJR I-NP +reassessment NN I-NP +of IN B-PP +the DT B-NP +data NNS I-NP +. . O +'' '' O + +The DT B-NP +U.S. NNP I-NP +Commerce NNP I-NP +Department NNP I-NP +reported VBD B-VP +a DT B-NP +$ $ I-NP +10.77 CD I-NP +billion CD I-NP +deficit NN I-NP +in IN B-PP +August NNP B-NP +, , O +compared VBN B-PP +with IN B-PP +a DT B-NP +revised VBN I-NP +July NNP I-NP +deficit NN I-NP +of IN B-PP +$ $ B-NP +8.24 CD I-NP +billion CD I-NP +. . O + +Economists NNS B-NP +had VBD B-VP +expected VBN I-VP +a DT B-NP +$ $ I-NP +9.1 CD I-NP +billion CD I-NP +gap NN I-NP +. . O + +The DT B-NP +August NNP I-NP +figure NN I-NP +reflected VBD B-VP +a DT B-NP +6.4 CD I-NP +% NN I-NP +rise NN I-NP +in IN B-PP +imports NNS B-NP +and CC O +a DT B-NP +0.2 CD I-NP +% NN I-NP +drop NN I-NP +in IN B-PP +exports NNS B-NP +. . O + +Marc NNP B-NP +M. NNP I-NP +Goloven NNP I-NP +, , O +an DT B-NP +economist NN I-NP +with IN B-PP +Manufacturers NNP B-NP +Hanover NNP I-NP +Trust NNP I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +, , O +said VBD B-VP +that IN B-SBAR +while IN B-SBAR +the DT B-NP +figures NNS I-NP +appear VBP B-VP +to TO I-VP +indicate VB I-VP +a DT B-NP +sadly RB I-NP +deteriorating VBG I-NP +U.S. NNP I-NP +trade NN I-NP +performance NN I-NP +, , O +there EX B-NP +'s VBZ B-VP +still RB B-ADVP +enough RB B-NP +positive JJ I-NP +news NN I-NP +in IN B-PP +the DT B-NP +data NNS I-NP +to TO B-VP +justify VB I-VP +buying VBG I-VP +dollars NNS B-NP +. . O + +He PRP B-NP +said VBD B-VP +that IN B-SBAR +while IN B-SBAR +the DT B-NP +U.S. NNP I-NP +trade NN I-NP +gap NN I-NP +with IN B-PP +Canada NNP B-NP +has VBZ B-VP +widened VBN I-VP +significantly RB B-ADVP +, , O +the DT B-NP +trade NN I-NP +deficit NN I-NP +with IN B-PP +Western NNP B-NP +Europe NNP I-NP +and CC O +Japan NNP B-NP +continues VBZ B-VP +to TO I-VP +narrow VB I-VP +. . O + +And CC O +he PRP B-NP +added VBD B-VP +that WDT B-SBAR +manufactured VBD B-NP +goods NNS I-NP +exports NNS I-NP +are VBP B-VP +still RB I-VP +rising VBG I-VP +. . O + +The DT B-NP +dollar NN I-NP +'s POS B-NP +near-term JJ I-NP +path NN I-NP +remains VBZ B-VP +foggy JJ B-ADJP +, , O +according VBG B-PP +to TO B-PP +currencny NN B-NP +analysts NNS I-NP +, , O +who WP B-NP +characterize VBP B-VP +the DT B-NP +market NN I-NP +as IN B-PP +`` `` O +bewildering VBG B-ADJP +. . O +'' '' O + +In IN B-PP +late JJ B-NP +New NNP I-NP +York NNP I-NP +trading NN I-NP +yesterday NN B-NP +, , O +the DT B-NP +dollar NN I-NP +was VBD B-VP +quoted VBN I-VP +at IN B-PP +1.8667 CD B-NP +marks NNS I-NP +, , O +down RB B-ADVP +from IN B-PP +1.8685 CD B-NP +marks NNS I-NP +late JJ B-NP +Monday NNP I-NP +, , B-PP +and CC I-PP +at IN B-PP +142.75 CD B-NP +yen NN I-NP +, , O +up IN B-ADVP +from IN B-PP +141.85 CD B-NP +yen NN I-NP +late JJ B-NP +Monday NNP I-NP +. . O + +Sterling NNP B-NP +was VBD B-VP +unchanged JJ B-ADJP +at IN B-PP +$ $ B-NP +1.5753 CD I-NP +. . O + +In IN B-PP +Tokyo NNP B-NP +Wednesday NNP B-NP +, , O +the DT B-NP +U.S. NNP I-NP +currency NN I-NP +opened VBD B-VP +for IN B-PP +trading NN B-NP +at IN B-PP +142.55 CD B-NP +yen NN I-NP +, , O +unchanged JJ B-ADJP +from IN B-PP +Tuesday NNP B-NP +'s POS B-NP +Tokyo NNP I-NP +close NN I-NP +. . O + +Later RB B-ADVP +, , O +the DT B-NP +U.S. NNP I-NP +currency NN I-NP +fell VBD B-VP +to TO B-PP +about IN B-NP +142.25 CD I-NP +yen NN I-NP +on IN B-PP +news NN B-NP +reports NNS I-NP +of IN B-PP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +earthquake NN I-NP +. . O + +Some DT B-NP +analysts NNS I-NP +remain VBP B-VP +bullish JJ B-ADJP +and CC O +point NN B-VP +out RP B-PRT +that IN B-SBAR +the DT B-NP +dollar NN I-NP +continues VBZ B-VP +to TO I-VP +be VB I-VP +well JJ B-ADJP +bid NN I-ADJP +despite IN B-PP +key JJ B-NP +rate NN I-NP +increases NNS I-NP +in IN B-PP +Europe NNP B-NP +and CC I-NP +Japan NNP I-NP +, , O +several JJ B-NP +weeks NNS I-NP +of IN B-PP +aggressive JJ B-NP +dollar NN I-NP +sales NNS I-NP +by IN B-PP +the DT B-NP +world NN I-NP +central JJ I-NP +banks NNS I-NP +-- : O +some DT B-NP +traders NNS I-NP +estimate VBP B-VP +that IN B-SBAR +the DT B-NP +barrage NN I-NP +of IN B-PP +sales NNS B-NP +topped VBD B-VP +$ $ B-NP +12 CD I-NP +billion CD I-NP +-- : O +and CC O +a DT B-NP +190-point JJ I-NP +plunge NN I-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +. . O + +They PRP B-NP +note VBP B-VP +that IN B-SBAR +the DT B-NP +U.S. NNP I-NP +unit NN I-NP +is VBZ B-VP +trading VBG I-VP +at IN B-PP +the DT B-NP +upper JJ I-NP +end NN I-NP +of IN B-PP +the DT B-NP +presumed VBN I-NP +target NN I-NP +zones NNS I-NP +established VBN B-VP +by IN B-PP +the DT O +Group NNP B-NP +of IN B-PP +Seven CD B-NP +trading NN B-NP +partners NNS I-NP +. . O + +The DT B-NP +G-7 NNP I-NP +comprises VBZ B-VP +West NNP B-NP +Germany NNP I-NP +, , O +the DT B-NP +U.S. NNP I-NP +, , O +France NNP B-NP +, , O +the DT B-NP +U.K. NNP I-NP +, , O +Italy NNP B-NP +, , O +Canada NNP B-NP +and CC O +Japan NNP B-NP +. . O + +The DT B-NP +so-called NNP I-NP +Louvre NNP I-NP +accord NN I-NP +was VBD B-VP +seen VBN I-VP +to TO I-VP +have VB I-VP +set VBN I-VP +ranges NNS B-NP +of IN B-PP +1.70 CD B-NP +marks NNS I-NP +to TO B-PP +1.90 CD B-NP +marks NNS I-NP +and CC O +120 CD B-NP +yen NN I-NP +to TO B-PP +140 CD B-NP +yen NN I-NP +. . O + +They PRP B-NP +say VBP B-VP +that IN B-SBAR +the DT B-NP +recent JJ I-NP +injection NN I-NP +of IN B-PP +liquidity NN B-NP +into IN B-PP +the DT B-NP +U.S. NNP I-NP +banking NN I-NP +system NN I-NP +has VBZ B-VP +been VBN I-VP +modest JJ B-ADJP +, , O +and CC O +they PRP B-NP +do VBP B-VP +n't RB I-VP +anticipate VB I-VP +significant JJ B-NP +easing NN I-NP +by IN B-PP +the DT B-NP +U.S. NNP I-NP +Federal NNP I-NP +Reserve NNP I-NP +. . O + +The DT B-NP +Fed NNP I-NP +arranged VBD B-VP +$ $ B-NP +1.5 CD I-NP +billion CD I-NP +of IN B-PP +customer NN B-NP +repurchase NN I-NP +agreements NNS I-NP +Tuesday NNP B-NP +, , O +the DT B-NP +second JJ I-NP +repurchase NN I-NP +agreement NN I-NP +in IN B-PP +two CD B-NP +days NNS I-NP +. . O + +The DT B-NP +move NN I-NP +, , O +which WDT B-NP +injects VBZ B-VP +capital NN B-NP +into IN B-PP +the DT B-NP +system NN I-NP +, , O +is VBZ B-VP +seen VBN I-VP +as IN B-PP +an DT B-NP +effort NN I-NP +to TO B-VP +reassure VB I-VP +the DT B-NP +finanicial JJ I-NP +markets NNS I-NP +that IN B-SBAR +the DT B-NP +U.S. NNP I-NP +central JJ I-NP +bank NN I-NP +is VBZ B-VP +ready JJ B-ADJP +to TO B-VP +provide VB I-VP +the DT B-NP +ample JJ I-NP +liquidity NN I-NP +. . O + +But CC O +other JJ B-NP +analysts NNS I-NP +contend VBP B-VP +that IN B-SBAR +while IN B-SBAR +the DT B-NP +Fed NNP I-NP +'s POS B-NP +move NN I-NP +to TO B-VP +loosen VB I-VP +credit NN B-NP +has VBZ B-VP +n't RB I-VP +been VBN I-VP +aggressive JJ B-ADJP +, , O +it PRP B-NP +nevertheless RB B-ADVP +sends VBZ B-VP +a DT B-NP +clear JJ I-NP +signal NN I-NP +that IN B-SBAR +, , O +at IN B-PP +least JJS I-PP +for IN B-PP +now RB B-NP +, , O +the DT B-NP +Fed NNP I-NP +has VBZ B-VP +relaxed VBN I-VP +its PRP$ B-NP +grip NN I-NP +on IN B-PP +credit NN B-NP +. . O + +They PRP B-NP +add VBP B-VP +that IN B-SBAR +the DT B-NP +Fed NNP I-NP +has VBZ B-VP +allowed VBN I-VP +the DT B-NP +key JJ I-NP +federal JJ I-NP +funds NNS I-NP +interest VBP I-NP +rate NN I-NP +to TO B-VP +dip VB I-VP +to TO B-PP +about IN B-NP +8 CD I-NP +5\/8 CD I-NP +% NN I-NP +from IN B-PP +its PRP$ B-NP +levels NNS I-NP +of IN B-PP +just RB B-NP +below IN I-NP +9 CD I-NP +% NN I-NP +last JJ B-NP +week NN I-NP +. . O + +The DT B-NP +federal JJ I-NP +funds NNS I-NP +rate NN I-NP +is VBZ B-VP +the DT B-NP +overnight JJ I-NP +lending NN I-NP +rate NN I-NP +that IN B-NP +banks NNS B-NP +charge VBP B-VP +each DT B-NP +other NN I-NP +. . O + +Market NN B-NP +participants NNS I-NP +said VBD B-VP +that IN B-SBAR +the DT B-NP +mark NN I-NP +continues VBZ B-VP +to TO I-VP +post VB I-VP +the DT B-NP +most RBS I-NP +significant JJ I-NP +gains NNS I-NP +against IN B-PP +the DT B-NP +dollar NN I-NP +. . O + +On IN B-PP +the DT B-NP +Commodity NNP I-NP +Exchange NNP I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +, , O +gold NN B-NP +for IN B-PP +current JJ B-NP +delivery NN I-NP +settled VBD B-VP +at IN B-PP +$ $ B-NP +367.40 CD I-NP +an DT B-NP +ounce NN I-NP +, , O +up IN B-ADVP +10 CD B-NP +cents NNS I-NP +. . O + +Estimated VBN B-NP +volume NN I-NP +was VBD B-VP +a DT B-NP +moderate JJ I-NP +3.5 CD I-NP +million CD I-NP +ounces NNS I-NP +. . O + +In IN B-PP +early JJ B-NP +trading NN I-NP +in IN B-PP +Hong NNP B-NP +Kong NNP I-NP +Wednesday NNP B-NP +, , O +gold NN B-NP +was VBD B-VP +at IN B-PP +$ $ B-NP +366.55 CD I-NP +an DT B-NP +ounce NN I-NP +. . O + +National NNP B-NP +Semiconductor NNP I-NP +Corp. NNP I-NP +said VBD B-VP +it PRP B-NP +settled VBD B-VP +a DT B-NP +four-year-old JJ I-NP +patent NN I-NP +infringement NN I-NP +case NN I-NP +against IN B-PP +Linear NNP B-NP +Technology NNP I-NP +Corp. NNP I-NP +by IN B-PP +accepting VBG B-VP +a DT B-NP +$ $ I-NP +3 CD I-NP +million CD I-NP +payment NN I-NP +from IN B-PP +Linear NNP B-NP +in IN B-PP +exchange NN B-NP +for IN B-PP +granting VBG B-VP +Linear NNP B-NP +irrevocable JJ B-NP +licenses NNS I-NP +for IN B-PP +all DT B-NP +products NNS I-NP +involved VBN B-VP +. . O + +The DT B-NP +two CD I-NP +companies NNS I-NP +also RB B-ADVP +agreed VBD B-VP +to TO I-VP +settle VB I-VP +any DT B-NP +future NN I-NP +property NN I-NP +rights NNS I-NP +issues NNS I-NP +over IN B-PP +the DT B-NP +next JJ I-NP +10 CD I-NP +years NNS I-NP +through IN B-PP +binding NN B-NP +arbitration NN I-NP +, , O +both DT B-NP +companies NNS I-NP +said VBD B-VP +. . O + +The DT B-NP +products NNS I-NP +are VBP B-VP +so-called JJ B-NP +analog NN I-NP +integrated VBN I-NP +circuits NNS I-NP +that WDT B-NP +have VBP B-VP +applications NNS B-NP +in IN B-PP +the DT B-NP +consumer NN I-NP +electronics NNS I-NP +, , I-NP +automobile NN I-NP +and CC I-NP +electronic JJ I-NP +instrumentation NN I-NP +markets NNS I-NP +. . O + +Linear NNP B-NP +Technology NNP I-NP +, , O +Milpitas NNP B-NP +, , O +Calif. NNP B-NP +, , O +called VBD B-VP +the DT B-NP +settlement NN I-NP +`` `` O +positive JJ B-ADJP +, , O +'' '' O +since IN B-SBAR +products NNS B-NP +covered VBN B-VP +by IN B-PP +the DT B-NP +disputed VBN I-NP +patents NNS I-NP +account VBP B-VP +for IN B-PP +about IN B-NP +20 CD I-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +annual JJ I-NP +sales NNS I-NP +. . O + +The DT B-NP +electronics NNS I-NP +concern VBP I-NP +said VBD B-VP +it PRP B-NP +already RB B-ADVP +has VBZ B-VP +paid VBN I-VP +$ $ B-NP +2 CD I-NP +million CD I-NP +of IN B-PP +the DT B-NP +settlement NN I-NP +to TO B-PP +National NNP B-NP +Semiconductor NNP I-NP +, , O +Santa NNP B-NP +Clara NNP I-NP +, , O +Calif. NNP B-NP +, , O +and CC O +will MD B-VP +pay VB I-VP +the DT B-NP +remaining VBG I-NP +$ $ I-NP +1 CD I-NP +million CD I-NP +in IN B-PP +equal JJ B-NP +installments NNS I-NP +over IN B-PP +the DT B-NP +next JJ I-NP +eight CD I-NP +quarters NNS I-NP +. . O + +The DT B-NP +payments NNS I-NP +are VBP B-VP +n't RB I-VP +expected VBN I-VP +to TO I-VP +have VB I-VP +an DT B-NP +impact NN I-NP +on IN B-PP +coming VBG B-NP +operating VBG I-NP +results NNS I-NP +, , O +Linear NNP B-NP +added VBD B-VP +. . O + +NBC NNP B-NP +'s POS B-NP +winning VBG I-NP +streak NN I-NP +has VBZ B-VP +been VBN I-VP +canceled VBN I-VP +. . O + +The DT B-NP +National NNP I-NP +Broadcasting NNP I-NP +Co. NNP I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +General NNP B-NP +Electric NNP I-NP +Co. NNP I-NP +, , O +had VBD B-VP +its PRP$ B-NP +record-breaking JJ I-NP +68-week JJ I-NP +reign NN I-NP +as IN B-PP +the DT B-NP +prime-time JJ I-NP +ratings NNS I-NP +leader NN I-NP +snapped VBD B-VP +yesterday NN B-NP +by IN B-PP +ABC-TV NNP B-NP +, , O +a DT B-NP +subsidiary NN I-NP +of IN B-PP +Capital NNP B-NP +Cities\/ABC NNP I-NP +Inc NNP I-NP +. . O + +In IN B-PP +the DT B-NP +ratings NNS I-NP +compiled VBN B-VP +by IN B-PP +the DT B-NP +A.C. NNP I-NP +Nielsen NNP I-NP +Co. NNP I-NP +, , O +ABC NNP B-NP +, , O +which WDT B-NP +broadcast NN B-VP +the DT B-NP +World NNP I-NP +Series NNP I-NP +, , O +topped VBD B-VP +the DT B-NP +competition NN I-NP +with IN B-PP +a DT B-NP +14.8 CD I-NP +rating NN I-NP +and CC I-NP +25 CD I-NP +share NN I-NP +. . O + +NBC NNP B-NP +was VBD B-VP +second JJ B-ADJP +with IN B-PP +a DT B-NP +13.9 CD I-NP +rating NN I-NP +and CC I-NP +24 CD I-NP +share NN I-NP +followed VBN B-PP +by IN B-PP +CBS NNP B-NP +Inc. NNP I-NP +'s POS B-NP +television NN I-NP +network NN I-NP +with IN B-PP +a DT B-NP +12.5 CD I-NP +rating NN I-NP +and CC I-NP +21 CD I-NP +share NN I-NP +. . O + +-LRB- ( O +A DT B-NP +ratings NNS I-NP +point VBP I-NP +represents VBZ B-VP +904,000 CD B-NP +television NN I-NP +households NNS I-NP +; : O +shares NNS B-NP +indicate VBP B-VP +the DT B-NP +percentage NN I-NP +of IN B-PP +sets NNS B-NP +in IN B-PP +use NN B-NP +. . O +-RRB- ) O + +The DT B-NP +first JJ I-NP +two CD I-NP +games NNS I-NP +of IN B-PP +the DT B-NP +World NNP I-NP +Series NNP I-NP +between IN B-PP +the DT B-NP +Oakland NNP I-NP +Athletics NNP I-NP +and CC I-NP +San NNP I-NP +Francisco NNP I-NP +Giants NNP I-NP +did VBD B-VP +n't RB I-VP +finish VB I-VP +in IN B-PP +the DT B-NP +top JJ I-NP +10 CD I-NP +; : O +instead RB B-ADVP +they PRP B-NP +landed VBD B-VP +in IN B-PP +16th JJ B-NP +and CC I-NP +18th JJ I-NP +place NN I-NP +. . O + +The DT B-NP +highest-rated JJ I-NP +show NN I-NP +continues VBZ B-VP +to TO I-VP +be VB I-VP +ABC NNP B-NP +'s POS B-NP +`` `` I-NP +Roseanne NNP I-NP +. . O +'' '' O + +NBC NNP B-NP +had VBD B-VP +five CD B-NP +of IN B-PP +the DT B-NP +top JJ I-NP +10 CD I-NP +shows VBZ B-NP +; : O +ABC NNP B-NP +had VBD B-VP +four CD B-NP +and CC O +CBS NNP B-NP +had VBD B-VP +one CD B-NP +. . O + +CBS NNP B-NP +held VBD B-VP +the DT B-NP +previous JJ I-NP +record NN I-NP +for IN B-PP +consecutive JJ B-NP +No. NN I-NP +1 CD I-NP +victories NNS I-NP +-- : O +46 CD B-NP +weeks NNS I-NP +-- : O +during IN B-PP +the DT B-NP +1962-63 CD I-NP +season NN I-NP +. . O + +Procter NNP B-NP +& CC I-NP +Gamble NNP I-NP +Co. NNP I-NP +, , O +Cincinnati NNP B-NP +, , O +expanding VBG B-VP +its PRP$ B-NP +presence NN I-NP +in IN B-PP +the DT B-NP +food NN I-NP +service NN I-NP +market NN I-NP +, , O +said VBD B-VP +it PRP B-NP +acquired VBD B-VP +Maryland NNP B-NP +Club NNP I-NP +Foods NNPS I-NP +, , O +a DT B-NP +coffee NN I-NP +supplier NN I-NP +, , O +from IN B-PP +an DT B-NP +investor NN I-NP +group NN I-NP +led VBN B-VP +by IN B-PP +F. NNP B-NP +Philip NNP I-NP +Handy NNP I-NP +of IN B-PP +Winter NNP B-NP +Park NNP I-NP +, , O +Fla NNP B-NP +. . O + +Terms NNS B-NP +were VBD B-VP +n't RB I-VP +disclosed VBN I-VP +. . O + +Houston-based NNP B-NP +Maryland NNP I-NP +Club NNP I-NP +Foods NNPS I-NP +, , O +which WDT B-NP +had VBD B-VP +sales NNS B-NP +of IN B-PP +about RB B-NP +$ $ I-NP +200 CD I-NP +million CD I-NP +last JJ B-NP +year NN I-NP +, , O +sells VBZ B-VP +coffee NN B-NP +under IN B-PP +the DT B-NP +Maryland NNP I-NP +Club NNP I-NP +and CC I-NP +Butter-Nut NNP I-NP +brands NNS I-NP +to TO B-PP +restaurants NNS B-NP +, , I-NP +hotels NNS I-NP +, , I-NP +offices NNS I-NP +and CC I-NP +airlines NNS I-NP +. . O + +The DT B-NP +acquisition NN I-NP +`` `` O +gives VBZ B-VP +us PRP B-NP +additional JJ B-NP +production NN I-NP +capacity NN I-NP +for IN B-PP +the DT B-NP +food NN I-NP +service NN I-NP +coffee NN I-NP +business NN I-NP +and CC O +a DT B-NP +stronger JJR I-NP +distribution NN I-NP +network NN I-NP +, , O +'' '' O +a DT B-NP +P&G NNP I-NP +spokesman NN I-NP +said VBD B-VP +. . O + +P&G NNP B-NP +already RB B-ADVP +sells VBZ B-VP +its PRP$ B-NP +Folgers NNP I-NP +ground NN I-NP +roast NN I-NP +coffee NN I-NP +to TO B-PP +food NN B-NP +service NN I-NP +concerns NNS I-NP +, , B-PP +but CC I-PP +not RB I-PP +to TO B-PP +as IN B-NP +many JJ I-NP +markets NNS I-NP +as IN B-PP +Maryland NNP B-NP +Club NNP I-NP +. . O + +For IN B-PP +example NN B-NP +, , O +P&G NNP B-NP +up IN B-ADVP +until IN B-PP +now RB B-NP +has VBZ B-VP +n't RB I-VP +sold VBN I-VP +coffee NN B-NP +to TO B-PP +airlines NNS B-NP +and CC O +does VBZ B-VP +only RB B-NP +limited JJ I-NP +business NN I-NP +with IN B-PP +hotels NNS B-NP +and CC O +large JJ B-NP +restaurant NN I-NP +chains NNS I-NP +. . O + +Maryland NNP B-NP +Club NNP I-NP +also RB B-ADVP +distributes VBZ B-VP +tea NN B-NP +, , O +which WDT B-NP +fits VBZ B-VP +well RB B-ADVP +with IN B-PP +P&G NNP B-NP +'s POS B-NP +Tender NN I-NP +Leaf NN I-NP +brand NN I-NP +, , I-NP +and CC I-NP +hot JJ I-NP +cocoa NN I-NP +products NNS I-NP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +the DT B-NP +acquisition NN I-NP +has VBZ B-VP +been VBN I-VP +completed VBN I-VP +and CC I-VP +reviewed VBN I-VP +by IN B-PP +the DT B-NP +Federal NNP I-NP +Trade NNP I-NP +Commission NNP I-NP +. . O + +The DT B-NP +purchase NN I-NP +includes VBZ B-VP +a DT B-NP +coffee-roasting JJ I-NP +plant NN I-NP +in IN B-PP +Omaha NNP B-NP +, , O +Neb. NNP B-NP +, , O +and CC O +a DT B-NP +leased VBN I-NP +facility NN I-NP +in IN B-PP +Houston NNP B-NP +. . O + +MACMILLAN NNP B-NP +BLOEDEL NNP I-NP +Ltd. NNP I-NP +said VBD B-VP +it PRP B-NP +borrowed VBD B-VP +215 CD B-NP +million CD I-NP +Dutch JJ I-NP +guilders NNS I-NP +-LRB- ( O +US$ $ B-NP +102 CD I-NP +million CD I-NP +-RRB- ) O +from IN B-PP +a DT B-NP +group NN I-NP +of IN B-PP +Dutch JJ B-NP +institutional JJ I-NP +investors NNS I-NP +. . O + +MacMillan NNP B-NP +Bloedel NNP I-NP +, , O +a DT B-NP +Vancouver NNP I-NP +, , I-NP +British NNP I-NP +Columbia NNP I-NP +, , I-NP +forest NN I-NP +products NNS I-NP +concern VBP I-NP +, , O +said VBD B-VP +the DT B-NP +8.1 CD I-NP +% NN I-NP +loan NN I-NP +is VBZ B-VP +due JJ B-ADJP +Oct. NNP B-NP +16 CD I-NP +, , I-NP +1996 CD I-NP +. . O + +Funds NNS B-NP +will MD B-VP +be VB I-VP +used VBN I-VP +to TO B-VP +repay VB I-VP +existing VBG B-NP +short-term JJ I-NP +debt NN I-NP +and CC O +to TO B-VP +finance VB I-VP +capital NN B-NP +spending NN I-NP +, , O +it PRP B-NP +said VBD B-VP +. . O + +President NNP B-NP +Bush NNP I-NP +will MD B-VP +veto VB I-VP +a DT B-NP +bill NN I-NP +funding VBG B-VP +the DT B-NP +Departments NNPS I-NP +of IN B-PP +Labor NNP B-NP +, , O +Education NNP B-NP +and CC O +Health NNP B-NP +and CC I-NP +Human NNP I-NP +Services NNP I-NP +because IN B-SBAR +it PRP B-NP +would MD B-VP +allow VB I-VP +federal JJ B-NP +funding NN I-NP +of IN B-PP +abortions NNS B-NP +for IN B-PP +victims NNS B-NP +of IN B-PP +rape NN B-NP +and CC I-NP +incest NN I-NP +, , O +the DT B-NP +White NNP I-NP +House NNP I-NP +said VBD B-VP +. . O + +Mr. NNP B-NP +Bush NNP I-NP +had VBD B-VP +threatened VBN I-VP +a DT B-NP +veto NN I-NP +previously RB B-ADVP +. . O + +But CC O +he PRP B-NP +put VBP B-VP +off IN B-PRT +a DT B-NP +firm NN I-NP +decision NN I-NP +while IN B-SBAR +his PRP$ B-NP +aides NNS I-NP +and CC I-NP +legislators NNS I-NP +searched VBD B-VP +for IN B-PP +a DT B-NP +compromise NN I-NP +that WDT B-NP +would MD B-VP +tighten VB I-VP +requirements NNS B-NP +for IN B-PP +such JJ B-NP +abortions NNS I-NP +in IN B-PP +a DT B-NP +way NN I-NP +acceptable JJ B-ADJP +to TO B-PP +the DT B-NP +president NN I-NP +. . O + +White NNP B-NP +House NNP I-NP +Press NNP I-NP +Secretary NNP I-NP +Marlin NNP I-NP +Fitzwater NNP I-NP +said VBD B-VP +negotiations NNS B-NP +between IN B-PP +Bush NNP B-NP +aides NNS I-NP +and CC O +lawmakers NNS B-NP +ended VBD B-VP +Monday NNP B-NP +without IN B-PP +success NN B-NP +. . O + +Most JJS B-NP +lawmakers NNS I-NP +think VBP B-VP +it PRP B-NP +will MD B-VP +be VB I-VP +extremely RB B-ADJP +difficult JJ I-ADJP +for IN B-SBAR +Mr. NNP B-NP +Bush NNP I-NP +'s POS B-NP +opponents NNS I-NP +on IN B-PP +the DT B-NP +abortion NN I-NP +issue NN I-NP +to TO B-VP +round VB I-VP +up IN B-PRT +the DT B-NP +votes NNS I-NP +needed VBN B-VP +to TO B-VP +override VB I-VP +the DT B-NP +veto NN I-NP +. . O + +But CC O +there EX B-NP +still RB B-ADVP +may MD B-VP +be VB I-VP +prolonged VBN B-NP +debate NN I-NP +and CC O +political JJ B-NP +maneuvering NN I-NP +that WDT B-NP +holds VBZ B-VP +up IN B-ADVP +the DT B-NP +$ $ I-NP +156.7 CD I-NP +billion CD I-NP +funding NN I-NP +bill NN I-NP +for IN B-PP +the DT B-NP +fiscal JJ I-NP +year NN I-NP +that WDT B-NP +began VBD B-VP +Oct. NNP B-NP +1 CD I-NP +. . O + +Mr. NNP B-NP +Bush NNP I-NP +has VBZ B-VP +said VBD I-VP +he PRP B-NP +personally RB B-ADVP +approves VBZ B-VP +of IN B-PP +abortions NNS B-NP +in IN B-PP +the DT B-NP +cases NNS I-NP +of IN B-PP +rape NN B-NP +, , O +incest NN B-NP +and CC O +danger NN B-NP +to TO B-PP +the DT B-NP +life NN I-NP +of IN B-PP +the DT B-NP +mother NN I-NP +. . O + +But CC O +he PRP B-NP +has VBZ B-VP +opposed VBN I-VP +Medicaid NNP B-NP +funding NN I-NP +of IN B-PP +abortions NNS B-NP +for IN B-PP +poor JJ B-NP +women NNS I-NP +who WP B-NP +say VBP B-VP +they PRP B-NP +are VBP B-VP +victims NNS B-NP +of IN B-PP +rape NN B-NP +and CC I-NP +incest NN I-NP +, , O +arguing VBG B-VP +that IN B-SBAR +those DT B-NP +exceptions NNS I-NP +are VBP B-VP +enforced VBN I-VP +so RB B-ADVP +loosely RB I-ADVP +that IN B-SBAR +they PRP B-NP +open VB B-VP +the DT B-NP +way NN I-NP +for IN B-PP +abortions NNS B-NP +for IN B-PP +other JJ B-NP +women NNS I-NP +. . O + +NEWSPAPERS NNS B-NP +: : O + +Media NNP B-NP +General NNP I-NP +Inc. NNP I-NP +intends VBZ B-VP +to TO I-VP +sell VB I-VP +two CD B-NP +of IN B-PP +its PRP$ B-NP +West NNP I-NP +Coast NNP I-NP +weekly JJ I-NP +newspaper NN I-NP +chains NNS I-NP +, , O +Golden NNP B-NP +West NNP I-NP +Publishing NNP I-NP +Inc. NNP I-NP +and CC O +Highlander NNP B-NP +Publications NNP I-NP +, , O +which WDT B-NP +together RB B-ADVP +comprise VBP B-VP +31 CD B-NP +papers NNS I-NP +. . O + +Media NNP B-NP +General NNP I-NP +said VBD B-VP +it PRP B-NP +has VBZ B-VP +had VBN I-VP +inquiries NNS B-NP +from IN B-PP +potential JJ B-NP +buyers NNS I-NP +and CC O +expects VBZ B-VP +to TO I-VP +complete VB I-VP +a DT B-NP +sale NN I-NP +in IN B-PP +1989 CD B-NP +. . O + +It PRP B-NP +would MD B-VP +n't RB I-VP +discuss VB I-VP +a DT B-NP +price NN I-NP +. . O + +Lee NNP B-NP +Dirks NNP I-NP +& CC I-NP +Associates NNPS I-NP +is VBZ B-VP +to TO I-VP +sell VB I-VP +the DT B-NP +chains NNS I-NP +. . O + +J.P. NNP B-NP +Morgan NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +New NNP B-NP +York NNP I-NP +, , O +will MD B-VP +help VB I-VP +the DT B-NP +statutory JJ I-NP +managers NNS I-NP +of IN B-PP +DFC NNP B-NP +New NNP I-NP +Zealand NNP I-NP +Ltd. NNP I-NP +to TO B-VP +evaluate VB I-VP +the DT B-NP +failed VBN I-NP +investment NN I-NP +bank NN I-NP +'s POS B-NP +condition NN I-NP +. . O + +Earlier RBR B-ADVP +this DT B-NP +month NN I-NP +, , O +the DT B-NP +Reserve NNP I-NP +Bank NNP I-NP +of IN B-PP +New NNP B-NP +Zealand NNP I-NP +, , O +the DT B-NP +country NN I-NP +'s POS B-NP +central JJ I-NP +bank NN I-NP +, , O +appointed VBD B-VP +the DT B-NP +managers NNS I-NP +to TO B-VP +run VB I-VP +the DT B-NP +investment NN I-NP +bank NN I-NP +and CC O +pay VB B-VP +creditors NNS B-NP +. . O + +DFC NNP B-NP +asked VBD B-VP +the DT B-NP +central JJ I-NP +bank NN I-NP +to TO B-VP +appoint VB I-VP +managers NNS B-NP +after IN B-SBAR +it PRP B-NP +revised VBD B-VP +loan-loss NN B-NP +provisions NNS I-NP +to TO B-PP +around IN B-NP +the DT I-NP +same JJ I-NP +level NN I-NP +of IN B-PP +shareholders NNS B-NP +' POS B-NP +funds NNS I-NP +of IN B-PP +180 CD B-NP +million CD I-NP +New NNP I-NP +Zealand NNP I-NP +dollars NNS I-NP +-LRB- ( O +US$ $ B-NP +105.4 CD I-NP +million CD I-NP +-RRB- ) O +. . O + +DFC NNP B-NP +is VBZ B-VP +held VBN I-VP +80 CD B-NP +% NN I-NP +by IN B-PP +National NNP B-NP +Provident NNP I-NP +Fund NNP I-NP +, , O +New NNP B-NP +Zealand NNP I-NP +'s POS B-NP +largest JJS I-NP +pension NN I-NP +fund NN I-NP +, , O +and CC O +20 CD B-NP +% NN I-NP +by IN B-PP +Salomon NNP B-NP +Brothers NNP I-NP +Inc. NNP I-NP +, , O +the DT B-NP +investment-bank JJ I-NP +and CC I-NP +securities-firm NN I-NP +subsidiary NN I-NP +of IN B-PP +Salomon NNP B-NP +Inc. NNP I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +. . O + +A DT B-NP +spokeswoman NN I-NP +for IN B-PP +J.P. NNP B-NP +Morgan NNP I-NP +, , O +parent NN B-NP +of IN B-PP +the DT B-NP +bank NN I-NP +Morgan NNP I-NP +Guaranty NNP I-NP +Trust NNP I-NP +Co. NNP I-NP +, , O +confirmed VBD B-VP +its PRP$ B-NP +appointment NN I-NP +to TO B-VP +assist VB I-VP +the DT B-NP +managers NNS I-NP +but CC O +declined VBD B-VP +to TO I-VP +elaborate VB I-VP +. . O + +The DT B-NP +managers NNS I-NP +said VBD B-VP +in IN B-PP +a DT B-NP +brief JJ I-NP +statement NN I-NP +yesterday NN B-NP +that IN O +Morgan NNP B-NP +will MD B-VP +help VB I-VP +evaluate VB I-VP +DFC NNP B-NP +'s POS B-NP +position NN I-NP +and CC O +help VB B-VP +determine VB I-VP +alternatives NNS B-NP +. . O + +The DT B-NP +managers NNS I-NP +do VBP B-VP +n't RB I-VP +expect VB I-VP +to TO I-VP +complete VB I-VP +the DT B-NP +evaluation NN I-NP +until IN B-PP +Nov. NNP B-NP +30 CD I-NP +. . O + +An DT B-NP +experimental JJ I-NP +vaccine NN I-NP +can MD B-VP +alter VB I-VP +the DT B-NP +immune JJ I-NP +response NN I-NP +of IN B-PP +people NNS B-NP +infected VBN B-VP +with IN B-PP +the DT B-NP +AIDS NNP I-NP +virus NN I-NP +, , O +a DT B-NP +prominent JJ I-NP +U.S. NNP I-NP +scientist NN I-NP +said VBD B-VP +. . O + +However RB B-ADVP +, , O +that WDT B-NP +does VBZ B-VP +n't RB I-VP +mean VB I-VP +they PRP B-NP +can MD B-VP +benefit VB I-VP +from IN B-PP +the DT B-NP +vaccine NN I-NP +. . O + +Its PRP$ B-NP +effectiveness NN I-NP +ca MD B-VP +n't RB I-VP +be VB I-VP +determined VBN I-VP +until IN B-SBAR +a DT B-NP +large JJ I-NP +clinical JJ I-NP +trial NN I-NP +is VBZ B-VP +undertaken VBN I-VP +by IN B-PP +the DT B-NP +Army NNP I-NP +in IN B-PP +January NNP B-NP +, , O +according VBG B-PP +to TO B-PP +Robert NNP B-NP +Redfield NNP I-NP +, , O +chief NN B-NP +of IN B-PP +acquired VBN B-NP +immune JJ I-NP +deficiency NN I-NP +syndrome NN I-NP +research NN I-NP +at IN B-PP +Walter NNP B-NP +Reed NNP I-NP +Army NNP I-NP +Institute NNP I-NP +of IN B-PP +Research NNP B-NP +. . O + +Dr. NNP B-NP +Redfield NNP I-NP +'s POS B-NP +report NN I-NP +on IN B-PP +early JJ B-NP +experiments NNS I-NP +using VBG B-VP +an DT B-NP +AIDS NNP I-NP +vaccine NN I-NP +made VBN B-VP +by IN B-PP +MicroGeneSys NNP B-NP +Inc. NNP I-NP +of IN B-PP +West NNP B-NP +Haven NNP I-NP +, , O +Conn. NNP B-NP +, , O +came VBD B-VP +at IN B-PP +a DT B-NP +meeting NN I-NP +of IN B-PP +AIDS NNP B-NP +vaccine NN I-NP +researchers NNS I-NP +in IN B-PP +Florida NNP B-NP +late JJ B-NP +Monday NNP I-NP +. . O + +The DT B-NP +vaccine NN I-NP +, , O +VaxSyn NNP B-NP +HIV-1 NNP I-NP +, , O +has VBZ B-VP +been VBN I-VP +safely RB I-VP +given VBN I-VP +to TO B-PP +14 CD B-NP +people NNS I-NP +, , O +some DT B-NP +of IN B-PP +whom WP B-NP +are VBP B-VP +experiencing VBG I-VP +substantial JJ B-NP +increases NNS I-NP +in IN B-PP +certain JJ B-NP +antibodies NNS I-NP +. . O + +`` `` O +The DT B-NP +conventional JJ I-NP +wisdom NN I-NP +used VBN B-VP +to TO I-VP +be VB I-VP +that IN B-SBAR +you PRP B-NP +could MD B-VP +n't RB I-VP +modify VB I-VP +the DT B-NP +immune JJ I-NP +response NN I-NP +of IN B-PP +an DT B-NP +infected VBN I-NP +individual JJ I-NP +'' '' O +by IN B-PP +innoculating VBG B-VP +them PRP B-NP +with IN B-PP +synthetic JJ B-NP +viral JJ I-NP +proteins NNS I-NP +, , O +Dr. NNP B-NP +Redfield NNP I-NP +said VBD B-VP +. . O + +`` `` O +We PRP B-NP +'ve VBP B-VP +demonstrated VBN I-VP +that IN B-SBAR +you PRP B-NP +can MD B-VP +. . O +'' '' O + +He PRP B-NP +said VBD B-VP +certain JJ B-NP +volunteers NNS I-NP +developed VBD B-VP +kinds NNS B-NP +of IN B-PP +antibodies NNS B-NP +associated VBN B-VP +with IN B-PP +early JJ B-NP +AIDS NNP I-NP +. . O + +Other JJ B-NP +antibodies NNS I-NP +sparked VBN B-VP +by IN B-PP +the DT B-NP +preparation NN I-NP +are VBP B-VP +of IN B-PP +a DT B-NP +sort NN I-NP +rarely RB B-ADJP +present JJ I-ADJP +in IN B-PP +large JJ B-NP +quantities NNS I-NP +in IN B-PP +infected VBN B-NP +or CC I-NP +ill JJ I-NP +individuals NNS I-NP +, , O +he PRP B-NP +added VBD B-VP +. . O + +One CD B-NP +of IN B-PP +the DT B-NP +mysteries NNS I-NP +of IN B-PP +AIDS NNP B-NP +remains VBZ B-VP +why WRB B-ADVP +infected VBN B-NP +people NNS I-NP +produce VBP B-VP +large JJ B-NP +quantities NNS I-NP +of IN B-PP +antibodies NNS B-NP +, , O +but CC O +deteriorate VB B-VP +nonetheless RB B-ADVP +. . O + +Cross NNP B-NP +& CC I-NP +Trecker NNP I-NP +Corp. NNP I-NP +said VBD B-VP +it PRP B-NP +reached VBD B-VP +an DT B-NP +agreement NN I-NP +to TO B-VP +sell VB I-VP +its PRP$ B-NP +Wiedemann NNP I-NP +division NN I-NP +to TO B-PP +recently RB B-NP +created VBN I-NP +Murata NNP I-NP +Wiedemann NNP I-NP +Inc. NNP I-NP +, , O +a DT B-NP +U.S. NNP I-NP +affiliate NN I-NP +of IN B-PP +Murata NNP B-NP +Machinery NNP I-NP +Ltd. NNP I-NP +of IN B-PP +Kyoto NNP B-NP +, , O +Japan NNP B-NP +. . O + +The DT B-NP +agreement NN I-NP +also RB B-ADVP +includes VBZ B-VP +the DT B-NP +purchase NN I-NP +of IN B-PP +Cross NNP B-NP +& CC I-NP +Trecker NNP I-NP +'s POS B-NP +Warner NNP O +& CC O +Swasey NNP O +-LRB- ( O +Switzerland NNP B-NP +-RRB- ) O +AG NNP B-NP +unit NN I-NP +by IN B-PP +a DT B-NP +European JJ I-NP +affiliate NN I-NP +of IN B-PP +Murata NNP B-NP +Machinery NNP I-NP +. . O + +Cross NNP B-NP +& CC I-NP +Trecker NNP I-NP +is VBZ B-VP +also RB I-VP +selling VBG I-VP +its PRP$ B-NP +equity NN I-NP +interest NN I-NP +in IN B-PP +a DT B-NP +Japanese JJ I-NP +joint JJ I-NP +venture NN I-NP +, , O +Murata NNP B-NP +Warner NNP I-NP +Swasey NNP I-NP +, , O +to TO B-PP +Murata NNP B-NP +Machinery NNP I-NP +. . O + +Cross NNP B-NP +& CC I-NP +Trecker NNP I-NP +, , O +a DT B-NP +Bloomfield NNP I-NP +Hills NNP I-NP +, , I-NP +Mich. NNP I-NP +, , I-NP +machine-tool JJ I-NP +maker NN I-NP +, , O +said VBD B-VP +the DT B-NP +net JJ I-NP +sales NNS I-NP +price NN I-NP +of IN B-PP +the DT B-NP +total JJ I-NP +transaction NN I-NP +is VBZ B-VP +$ $ B-NP +24 CD I-NP +million CD I-NP +. . O + +The DT B-NP +Wiedemann NNP I-NP +division NN I-NP +was VBD B-VP +one CD B-NP +of IN B-PP +three CD B-NP +businesses NNS I-NP +put VBP B-VP +up IN B-PRT +for IN B-PP +sale NN B-NP +in IN B-PP +Cross NNP B-NP +& CC I-NP +Trecker NNP I-NP +'s POS B-NP +restructuring NN I-NP +program NN I-NP +announced VBD B-VP +in IN B-PP +July NNP B-NP +. . O + +Cross NNP B-NP +& CC I-NP +Trecker NNP I-NP +said VBD B-VP +negotiations NNS B-NP +are VBP B-VP +under IN B-PP +way NN B-NP +for IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +another DT B-NP +company NN I-NP +, , O +RobertsCorp NNP B-NP +. . O + +The DT B-NP +average JJ I-NP +interest NN I-NP +rate NN I-NP +fell VBD B-VP +to TO B-PP +8.292 CD B-NP +% NN I-NP +at IN B-PP +Citicorp NNP B-NP +'s POS B-NP +$ $ I-NP +50 CD I-NP +million CD I-NP +weekly JJ I-NP +auction NN I-NP +of IN B-PP +91-day JJ B-NP +commercial JJ I-NP +paper NN I-NP +, , O +or CC O +corporate JJ B-NP +IOUs NNS I-NP +, , O +from IN B-PP +8.483 CD B-NP +% NN I-NP +at IN B-PP +last JJ B-NP +week NN I-NP +'s POS B-NP +sale NN I-NP +. . O + +Bids NNS B-NP +totaling VBG B-VP +$ $ B-NP +465 CD I-NP +million CD I-NP +were VBD B-VP +submitted VBN I-VP +, , O +and CC O +accepted VBD B-NP +bids NNS I-NP +were VBD B-VP +at IN B-PP +8.292 CD B-NP +% NN I-NP +. . O + +Citicorp NNP B-NP +also RB B-ADVP +said VBD B-VP +that IN B-SBAR +the DT B-NP +average JJ I-NP +rate NN I-NP +fell VBD B-VP +to TO B-PP +7.986 CD B-NP +% NN I-NP +at IN B-PP +its PRP$ B-NP +$ $ I-NP +50 CD I-NP +million CD I-NP +auction NN I-NP +of IN B-PP +182-day JJ B-NP +commercial JJ I-NP +paper NN I-NP +from IN B-PP +8.1255 CD B-NP +% NN I-NP +at IN B-PP +last JJ B-NP +week NN I-NP +'s POS B-NP +sale NN I-NP +. . O + +Bids NNS B-NP +totaling VBG B-VP +$ $ B-NP +415 CD I-NP +million CD I-NP +were VBD B-VP +submitted VBN I-VP +, , O +and CC O +accepted VBD B-NP +bids NNS I-NP +were VBD B-VP +at IN B-PP +7.986 CD B-NP +% NN I-NP +. . O + +The DT B-NP +bank NN I-NP +holding VBG I-NP +company NN I-NP +will MD B-VP +auction VB I-VP +another DT B-NP +$ $ I-NP +50 CD I-NP +million CD I-NP +of IN B-PP +commercial JJ B-NP +paper NN I-NP +in IN B-PP +each DT B-NP +maturity NN I-NP +next JJ B-PP +Tuesday NNP B-NP +. . O + +Matra NNP B-NP +S.A. NNP I-NP +reported VBD B-VP +its PRP$ B-NP +1989 CD I-NP +first-half JJ I-NP +profit NN I-NP +soared VBD B-VP +88 CD B-NP +% NN I-NP +, , O +and CC O +indicated VBD B-VP +that IN B-SBAR +its PRP$ B-NP +previous JJ I-NP +estimate NN I-NP +of IN B-PP +a DT B-NP +50 CD I-NP +% NN I-NP +rise NN I-NP +in IN B-PP +earnings NNS B-NP +for IN B-PP +all DT B-NP +of IN B-PP +1989 CD B-NP +will MD B-VP +be VB I-VP +exceeded VBN I-VP +by IN B-PP +a DT B-NP +wide JJ I-NP +margin NN I-NP +. . O + +The DT B-NP +French JJ I-NP +electronics NNS I-NP +and CC I-NP +defense NN I-NP +group NN I-NP +said VBD B-VP +attributable JJ B-NP +consolidated JJ I-NP +net JJ I-NP +profit NN I-NP +for IN B-PP +the DT B-NP +first JJ I-NP +six CD I-NP +months NNS I-NP +of IN B-PP +1989 CD B-NP +totaled VBD B-VP +244 CD B-NP +million CD I-NP +francs NNS I-NP +-LRB- ( O +$ $ B-NP +38.4 CD I-NP +million CD I-NP +-RRB- ) O +, , O +compared VBN B-PP +with IN B-PP +130 CD B-NP +million CD I-NP +francs NNS I-NP +-LRB- ( O +$ $ B-NP +20.5 CD I-NP +million CD I-NP +-RRB- ) O +in IN B-PP +the DT B-NP +corresponding JJ I-NP +period NN I-NP +of IN B-PP + +Operating NN B-NP +profit NN I-NP +climbed VBD B-VP +51 CD B-NP +% NN I-NP +, , O +to TO B-PP +572 CD B-NP +million CD I-NP +francs NNS I-NP +from IN B-PP +378 CD B-NP +million CD I-NP +in IN B-PP +the DT B-NP +first JJ I-NP +half NN I-NP +of IN B-PP +1988 CD B-NP +. . O + +Matra NNP B-NP +said VBD B-VP +the DT B-NP +sharp JJ I-NP +improvement NN I-NP +in IN B-PP +net JJ B-NP +profit NN I-NP +partly RB B-VP +reflected VBD I-VP +a DT B-NP +decline NN I-NP +of IN B-PP +59 CD B-NP +million CD I-NP +francs NNS I-NP +in IN B-PP +the DT B-NP +group NN I-NP +'s POS B-NP +net JJ I-NP +loss NN I-NP +from IN B-PP +nonrecurring VBG B-NP +items NNS I-NP +in IN B-PP +the DT B-NP +first JJ I-NP +half NN I-NP +of IN B-PP +this DT B-NP +year NN I-NP +to TO B-PP +104 CD B-NP +million CD I-NP +francs NNS I-NP +from IN B-PP +163 CD B-NP +million CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +There EX B-NP +was VBD B-VP +also RB B-ADVP +a DT B-NP +decline NN I-NP +in IN B-PP +the DT B-NP +group NN I-NP +'s POS B-NP +net JJ I-NP +financial JJ I-NP +costs NNS I-NP +to TO B-PP +25 CD B-NP +million CD I-NP +francs NNS I-NP +from IN B-PP +50 CD B-NP +million CD I-NP +a DT B-NP +year NN I-NP +before RB B-ADVP +. . O + +These DT B-NP +movements NNS I-NP +were VBD B-VP +offset VBN I-VP +, , O +however RB B-ADVP +, , O +by IN B-PP +a DT B-NP +steep JJ I-NP +rise NN I-NP +in IN B-PP +corporate JJ B-NP +income NN I-NP +tax NN I-NP +payments NNS I-NP +to TO B-PP +199 CD B-NP +million CD I-NP +francs NNS I-NP +from IN B-PP +35 CD B-NP +million CD I-NP +in IN B-PP +the DT B-NP +first JJ I-NP +six CD I-NP +months NNS I-NP +of IN B-PP +1988 CD B-NP +. . O + +Matra NNP B-NP +said VBD B-VP +the DT B-NP +sharp JJ I-NP +rise NN I-NP +in IN B-PP +its PRP$ B-NP +first-half JJ I-NP +earnings NNS I-NP +was VBD B-VP +based VBN I-VP +on IN B-PP +a DT B-NP +15 CD I-NP +% NN I-NP +gain NN I-NP +in IN B-PP +consolidated JJ B-NP +revenue NN I-NP +to TO B-PP +10.16 CD B-NP +billion CD I-NP +francs NNS I-NP +from IN B-PP +8.85 CD B-NP +billion CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Rep. NNP B-NP +Lee NNP I-NP +Hamilton NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Ind NNP B-NP +. . O +-RRB- ) O +said VBD B-VP +he PRP B-NP +and CC O +Rep. NNP B-NP +Byron NNP I-NP +Dorgan NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +N.D NNP B-NP +. . O +-RRB- ) O +are VBP B-VP +backing VBG I-VP +away RB B-ADVP +from IN B-PP +their PRP$ B-NP +proposal NN I-NP +to TO B-VP +make VB I-VP +the DT B-NP +Treasury NNP I-NP +Secretary NNP I-NP +a DT B-NP +voting NN I-NP +member NN I-NP +of IN B-PP +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +panel NN I-NP +that IN B-NP +sets NNS B-VP +monetary JJ B-NP +policy NN I-NP +. . O + +Rep. NNP B-NP +Hamilton NNP I-NP +said VBD B-VP +the DT B-NP +bill NN I-NP +will MD B-VP +be VB I-VP +modified VBN I-VP +substantially RB B-ADVP +to TO B-VP +call VB I-VP +for IN B-PP +two CD B-NP +meetings NNS I-NP +each DT B-NP +year NN I-NP +between IN B-PP +the DT B-NP +Fed NNP I-NP +'s POS B-NP +open JJ I-NP +market NN I-NP +committee NN I-NP +and CC O +the DT B-NP +Treasury NNP I-NP +Secretary NNP I-NP +, , O +the DT B-NP +chairman NN I-NP +of IN B-PP +the DT B-NP +Council NNP I-NP +of IN B-PP +Economic NNP B-NP +Advisers NNPS I-NP +and CC O +the DT B-NP +director NN I-NP +of IN B-PP +the DT B-NP +Office NNP I-NP +of IN B-PP +Management NNP B-NP +and CC I-NP +Budget NNP I-NP +. . O + +The DT B-NP +original JJ I-NP +bill NN I-NP +was VBD B-VP +strongly RB I-VP +opposed VBN I-VP +by IN B-PP +the DT B-NP +Fed NNP I-NP +and CC O +publicly RB B-VP +criticized VBN I-VP +by IN B-PP +friends NNS B-NP +of IN B-PP +the DT B-NP +Fed NNP I-NP +as IN B-PP +an DT B-NP +attempt NN I-NP +to TO B-VP +undermine VB I-VP +the DT B-NP +central JJ I-NP +bank NN I-NP +'s POS B-NP +independence NN I-NP +. . O + +Fed JJ B-NP +critics NNS I-NP +, , O +however RB B-ADVP +, , O +hailed VBD B-VP +it PRP B-NP +as IN B-PP +a DT B-NP +long JJ I-NP +overdue JJ I-NP +attempt NN I-NP +to TO B-VP +bring VB I-VP +a DT B-NP +measure NN I-NP +of IN B-PP +openness NN B-NP +and CC I-NP +democracy NN I-NP +to TO B-PP +the DT B-NP +setting NN I-NP +of IN B-PP +monetary JJ B-NP +policy NN I-NP +. . O + +Rep. NNP B-NP +Hamilton NNP I-NP +said VBD B-VP +the DT B-NP +purpose NN I-NP +of IN B-PP +the DT B-NP +meetings NNS I-NP +would MD B-VP +be VB I-VP +to TO B-VP +`` `` O +improve VB B-VP +communications NNS B-NP +and CC O +perhaps RB B-ADVP +coordination NN B-NP +between IN B-PP +the DT B-NP +executive JJ I-NP +branch NN I-NP +and CC O +the DT B-NP +Fed NNP I-NP +. . O +'' '' O + +Fed NNP B-NP +Chairman NNP I-NP +Alan NNP I-NP +Greenspan NNP I-NP +meets VBZ B-VP +regularly RB B-ADVP +for IN B-PP +lunch NN B-NP +with IN B-PP +Treasury NNP B-NP +Secretary NNP I-NP +Nicholas NNP I-NP +Brady NNP I-NP +and CC O +talks NNS B-VP +frequently RB B-ADVP +with IN B-PP +Budget NNP B-NP +Director NNP I-NP +Richard NNP I-NP +Darman NNP I-NP +and CC O +Michael NNP B-NP +Boskin NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +the DT B-NP +Council NNP I-NP +of IN B-PP +Economic NNP B-NP +Advisers NNPS I-NP +. . O + +The DT B-NP +administration NN I-NP +officials NNS I-NP +do VBP B-VP +n't RB I-VP +ordinarily RB I-VP +meet VB I-VP +with IN B-PP +the DT B-NP +entire JJ I-NP +membership NN I-NP +of IN B-PP +the DT B-NP +open JJ I-NP +market NN I-NP +committee NN I-NP +. . O + +B.F. NNP B-NP +Goodrich NNP I-NP +Co. NNP I-NP +said VBD B-VP +third-quarter JJ B-NP +profits NNS I-NP +dropped VBD B-VP +34 CD B-NP +% NN I-NP +because IN B-PP +of IN I-PP +lower JJR B-NP +prices NNS I-NP +for IN B-PP +polyvinyl NN B-NP +chloride NN I-NP +materials NNS I-NP +, , O +the DT B-NP +company NN I-NP +'s POS B-NP +largest JJS I-NP +product NN I-NP +group NN I-NP +. . O + +Net NN B-NP +fell VBD B-VP +to TO B-PP +$ $ B-NP +40.1 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.50 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +60.7 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +2.32 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Sales NNS B-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +slipped VBD B-VP +2.7 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +601.3 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +618.1 CD I-NP +million CD I-NP +. . O + +Polyvinyl NN B-NP +chloride NN I-NP +capacity NN I-NP +`` `` O +has VBZ B-VP +overtaken VBN I-VP +demand NN B-NP +and CC O +we PRP B-NP +are VBP B-VP +experiencing VBG I-VP +reduced VBN B-NP +profit NN I-NP +margins NNS I-NP +as IN B-PP +a DT B-NP +result NN I-NP +, , O +'' '' O +said VBD B-VP +John NNP B-NP +D. NNP I-NP +Ong NNP I-NP +, , O +chairman NN B-NP +and CC O +chief JJ B-NP +executive NN I-NP +. . O + +Prices NNS B-NP +for IN B-PP +general-purpose JJ B-NP +PVC NNP I-NP +resin NN I-NP +have VBP B-VP +dropped VBN I-VP +more JJR B-NP +than IN I-NP +15 CD I-NP +% NN I-NP +since IN B-PP +last JJ B-NP +December NNP I-NP +, , O +he PRP B-NP +said VBD B-VP +. . O + +The DT B-NP +plastic NN I-NP +resin NN I-NP +is VBZ B-VP +used VBN I-VP +in IN B-PP +a DT B-NP +wide JJ I-NP +range NN I-NP +of IN B-PP +products NNS B-NP +, , O +including VBG B-PP +siding NN B-NP +, , O +pipe NN B-NP +and CC O +electrical JJ B-NP +wire NN I-NP +insulation NN I-NP +. . O + +Goodrich NNP B-NP +'s POS B-NP +vinyl-products NNS I-NP +segment VBP I-NP +reported VBD B-VP +operating VBG B-NP +profit NN I-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +of IN B-PP +$ $ B-NP +30.1 CD I-NP +million CD I-NP +, , O +less JJR B-NP +than IN I-NP +half PDT I-NP +the DT I-NP +$ $ I-NP +64.1 CD I-NP +million CD I-NP +of IN B-PP +the DT B-NP +year-earlier JJ I-NP +quarter NN I-NP +. . O + +Third-quarter JJ B-NP +operating NN I-NP +profit NN I-NP +of IN B-PP +the DT B-NP +specialty-chemicals NNS I-NP +group VBP I-NP +declined VBD B-VP +slightly RB B-ADVP +to TO B-PP +$ $ B-NP +24.3 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +24.9 CD I-NP +million CD I-NP +. . O + +But CC O +operating VBG B-NP +profit NN I-NP +from IN B-PP +aerospace NN B-NP +products NNS I-NP +rose VBD B-VP +nearly RB B-NP +50 CD I-NP +% NN I-NP +to TO B-PP +$ $ B-NP +15 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +10.1 CD I-NP +million CD I-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +, , O +shares VBZ B-NP +of IN B-PP +the DT B-NP +Akron NNP I-NP +, , I-NP +Ohio-based JJ I-NP +company NN I-NP +fell VBD B-VP +$ $ B-NP +1.375 CD I-NP +to TO B-PP +$ $ B-NP +49.125 CD I-NP +. . O + +Fiat NNP B-NP +S.p NNP I-NP +. . I-NP +A. NNP I-NP +, , O +Italy NNP B-NP +'s POS B-NP +leading VBG I-NP +industrial JJ I-NP +group NN I-NP +, , O +is VBZ B-VP +conducting VBG I-VP +`` `` B-NP +concrete JJ I-NP +'' '' I-NP +talks NNS I-NP +with IN B-PP +West NNP B-NP +Germany NNP I-NP +'s POS B-NP +Daimler-Benz NNP I-NP +AG NNP I-NP +on IN B-PP +a DT B-NP +series NN I-NP +of IN B-PP +projects NNS B-NP +in IN B-PP +the DT B-NP +aerospace NN I-NP +sector NN I-NP +, , O +Fiat NNP B-NP +officials NNS I-NP +said VBD B-VP +. . O + +However RB B-ADVP +, , O +the DT B-NP +officials NNS I-NP +said VBD B-VP +it PRP B-NP +was VBD B-VP +too RB B-ADJP +early JJ I-ADJP +to TO B-VP +disclose VB I-VP +the DT B-NP +nature NN I-NP +of IN B-PP +the DT B-NP +proposed VBN I-NP +projects NNS I-NP +or CC O +indicate VB B-VP +when WRB B-ADVP +the DT B-NP +talks NNS I-NP +might MD B-VP +be VB I-VP +concluded VBN I-VP +. . O + +Daimler-Benz NNP B-NP +Chairman NNP I-NP +Edzard NNP I-NP +Reuter NNP I-NP +told VBD B-VP +Milan NNP B-NP +'s POS B-NP +financial JJ I-NP +daily JJ I-NP +Il FW B-NP +Sole NNP I-NP +24 CD I-NP +Ore NNP I-NP +that IN B-SBAR +talks NNS B-NP +are VBP B-VP +taking VBG I-VP +place NN B-NP +between IN B-PP +both DT B-NP +companies NNS I-NP +' POS B-NP +aerospace NN I-NP +units NNS I-NP +. . O + +`` `` O +While IN B-SBAR +Mr. NNP B-NP +Reuter NNP I-NP +'s POS B-NP +comments NNS I-NP +please VBP B-VP +us PRP B-NP +very RB B-ADVP +much RB I-ADVP +, , O +there EX B-NP +currently RB B-ADVP +are VBP B-VP +no DT B-NP +talks NNS I-NP +in IN B-PP +progress NN B-NP +regarding VBG B-VP +the DT B-NP +automotive JJ I-NP +industry NN I-NP +, , O +'' '' O +a DT B-NP +Fiat NNP I-NP +spokeswoman NN I-NP +said VBD B-VP +. . O + +In IN B-PP +the DT B-NP +interview NN I-NP +, , O +Mr. NNP B-NP +Reuter NNP I-NP +said VBD B-VP +he PRP B-NP +is VBZ B-VP +thinking VBG I-VP +foremost JJ B-ADVP +of IN B-PP +cooperation NN B-NP +in IN B-PP +the DT B-NP +truck NN I-NP +sector NN I-NP +, , O +but CC O +`` `` O +in IN B-PP +the DT B-NP +long JJ I-NP +run NN I-NP +, , O +I PRP B-NP +do VBP B-VP +n't RB I-VP +want VB I-VP +to TO I-VP +rule VB I-VP +out RP B-PRT +that IN B-SBAR +we PRP B-NP +can MD B-VP +also RB I-VP +come VB I-VP +a DT B-NP +bit NN I-NP +closer JJR B-ADJP +in IN B-PP +personal JJ B-NP +cars NNS I-NP +. . O +'' '' O + +Roberto NNP B-NP +Morelli NNP I-NP +, , O +Italy NNP B-NP +analyst NN I-NP +for IN B-PP +County NNP B-NP +Natwest NNP I-NP +Securities NNPS I-NP +in IN B-PP +London NNP B-NP +, , O +said VBD B-VP +that DT B-SBAR +right RB B-ADVP +now RB I-ADVP +`` `` O +the DT B-NP +market NN I-NP +is VBZ B-VP +n't RB I-VP +being VBG I-VP +influenced VBN I-VP +by IN B-PP +that DT B-NP +kind NN I-NP +of IN B-PP +news NN B-NP +, , O +'' '' O +referring VBG B-VP +to TO B-PP +the DT B-NP +conditional JJ I-NP +nature NN I-NP +of IN B-PP +the DT B-NP +talks NNS I-NP +mentioned VBN B-VP +by IN B-PP +Mr. NNP B-NP +Reuter NNP I-NP +and CC O +by IN B-PP +the DT B-NP +uncertainty NN I-NP +surrounding VBG B-VP +world NN B-NP +stock NN I-NP +exchanges VBZ I-NP +this DT B-NP +week NN I-NP +. . O + +Paul NNP B-NP +Tanner NNP I-NP +was VBD B-VP +named VBN I-VP +president NN B-NP +, , O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +and CC O +chairman NN B-NP +of IN B-PP +this DT B-NP +oil NN I-NP +and CC I-NP +natural JJ I-NP +gas NN I-NP +company NN I-NP +. . O + +He PRP B-NP +succeeds VBZ B-VP +John NNP B-NP +A. NNP I-NP +Boudreau NNP I-NP +, , O +who WP B-NP +resigned VBD B-VP +for IN B-PP +personal JJ B-NP +reasons NNS I-NP +. . O + +Mr. NNP B-NP +Tanner NNP I-NP +had VBD B-VP +been VBN I-VP +president NN B-NP +of IN B-PP +Penn NNP B-NP +Pacific NNP I-NP +'s POS B-NP +National NNP I-NP +Southwest NNP I-NP +Capital NNP I-NP +Group NNP I-NP +subsidiary NN I-NP +. . O + +Mr. NNP B-NP +Boudreau NNP I-NP +will MD B-VP +remain VB I-VP +with IN B-PP +Penn NNP B-NP +Pacific NNP I-NP +as IN B-PP +a DT B-NP +director NN I-NP +and CC O +a DT B-NP +member NN I-NP +of IN B-PP +the DT B-NP +executive JJ I-NP +committee NN I-NP +. . O + +He PRP B-NP +has VBZ B-VP +also RB I-VP +agreed VBN I-VP +to TO I-VP +become VB I-VP +president NN B-NP +of IN B-PP +a DT B-NP +new JJ I-NP +subsidiary NN I-NP +to TO B-VP +be VB I-VP +formed VBN I-VP +to TO B-VP +make VB I-VP +future NN B-NP +acquisitions NNS I-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +. . O + +Spooked VBN B-NP +investors NNS I-NP +, , O +despite IN B-PP +their PRP$ B-NP +stampede NN I-NP +to TO B-VP +dump VB I-VP +takeover NN B-NP +stocks NNS I-NP +, , O +should MD B-VP +hold VB I-VP +on IN B-PRT +tight JJ B-ADVP +to TO B-PP +their PRP$ B-NP +Jaguar NNP I-NP +shares NNS I-NP +. . O + +That DT B-NP +'s VBZ B-VP +the DT B-NP +view NN I-NP +of IN B-PP +some DT B-NP +analysts NNS I-NP +here RB B-ADVP +who WP B-NP +argue VBP B-VP +that IN B-SBAR +Britain NNP B-NP +'s POS B-NP +leading VBG I-NP +maker NN I-NP +of IN B-PP +luxury NN B-NP +cars NNS I-NP +still RB B-ADVP +may MD B-VP +have VB I-VP +two CD B-NP +U.S. NNP I-NP +auto NN I-NP +giants NNS I-NP +battling VBG B-VP +for IN B-PP +it PRP B-NP +. . O + +Yesterday NN B-NP +, , O +Ford NNP B-NP +Motor NNP I-NP +disclosed VBD B-VP +that IN B-SBAR +it PRP B-NP +has VBZ B-VP +raised VBN I-VP +its PRP$ B-NP +holding NN I-NP +in IN B-PP +Jaguar NNP B-NP +to TO B-PP +10.4 CD B-NP +% NN I-NP +from IN B-PP +5 NN B-NP +% NN I-NP +. . O + +Both DT B-NP +Ford NNP B-NP +and CC O +its PRP$ B-NP +rival JJ I-NP +General NNP I-NP +Motors NNPS I-NP +recently RB B-ADVP +set VBN B-VP +their PRP$ B-NP +sights NNS I-NP +on IN B-PP +grabbing VBG B-VP +significant JJ B-NP +minority NN I-NP +stakes NNS I-NP +in IN B-PP +the DT B-NP +British JJ I-NP +company NN I-NP +. . O + +Ford NNP B-NP +'s POS B-NP +latest JJS I-NP +move NN I-NP +increases VBZ B-VP +the DT B-NP +pressure NN I-NP +on IN B-PP +GM NNP B-NP +to TO B-VP +complete VB I-VP +its PRP$ B-NP +current JJ I-NP +talks NNS I-NP +with IN B-PP +Jaguar NNP B-NP +quickly RB B-ADVP +. . O + +GM NNP B-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +reach VB I-VP +the DT B-NP +cooperative JJ I-NP +operating NN I-NP +pact NN I-NP +it PRP B-NP +has VBZ B-VP +been VBN I-VP +seeking VBG I-VP +in IN B-PP +about IN B-NP +two CD I-NP +weeks NNS I-NP +, , O +knowledgeable JJ B-NP +individuals NNS I-NP +say VBP B-VP +. . O + +At IN B-PP +that DT B-NP +point NN I-NP +investors NNS B-NP +may MD B-VP +face VB I-VP +a DT B-NP +long JJ I-NP +, , I-NP +bumpy JJ I-NP +ride NN I-NP +. . O + +A DT B-NP +victor NN I-NP +in IN B-PP +the DT B-NP +fight NN I-NP +for IN B-PP +Jaguar NNP B-NP +may MD B-VP +not RB I-VP +emerge VB I-VP +until IN B-PP +after IN B-PP +the DT B-NP +expiration NN I-NP +late JJ B-NP +next JJ I-NP +year NN I-NP +of IN B-PP +British JJ B-NP +government NN I-NP +takeover NN I-NP +restrictions NNS I-NP +. . O + +The DT B-NP +curbs NNS I-NP +prevent VBP B-VP +a DT B-NP +buyer NN I-NP +from IN B-PP +purchasing VBG B-VP +more JJR B-NP +than IN I-NP +15 CD I-NP +% NN I-NP +of IN B-PP +Jaguar NNP B-NP +shares NNS I-NP +without IN B-PP +permission NN B-NP +. . O + +`` `` O +This DT B-NP +is VBZ B-VP +an DT B-NP +exceptionally RB I-NP +odd JJ I-NP +takeover NN I-NP +battle NN I-NP +, , O +'' '' O +says VBZ B-VP +London NNP B-NP +analyst NN I-NP +Christopher NNP B-NP +Will MD I-NP +of IN B-PP +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +. . O + +Jaguar NNP B-NP +'s POS B-NP +American JJ I-NP +depositary NN I-NP +receipts NNS I-NP +were VBD B-VP +up IN B-ADVP +3\/8 CD B-NP +yesterday NN B-NP +in IN B-PP +a DT B-NP +down JJ I-NP +market NN I-NP +, , O +closing VBG B-VP +at IN B-PP +10 CD B-NP +3\/8 CD I-NP +. . O + +-LRB- ( O +Jaguar NNP B-NP +'s POS B-NP +ADRs NNS I-NP +make VBP B-VP +the DT B-NP +company NN I-NP +one CD B-NP +of IN B-PP +the DT O +most RBS B-ADVP +widely RB I-ADVP +held VBN B-NP +United NNP I-NP +Kingdom NNP I-NP +stocks NNS I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +, , O +with IN B-SBAR +more JJR B-NP +than IN I-NP +one-fourth NN I-NP +of IN B-PP +its PRP$ B-NP +shares NNS I-NP +owned VBN B-VP +there RB B-ADVP +. . O +-RRB- ) O + +Jaguar NNP B-NP +topped VBD B-VP +the DT B-NP +most-active JJ I-NP +list NN I-NP +for IN B-PP +the DT B-NP +U.S. NNP I-NP +over-the-counter JJ I-NP +market NN I-NP +Monday NNP B-NP +. . O + +And CC O +on IN B-PP +London NNP B-NP +'s POS B-NP +Stock NNP I-NP +Exchange NNP I-NP +Monday NNP B-NP +, , O +18.5 CD B-NP +million CD I-NP +shares NNS I-NP +were VBD B-VP +traded VBN I-VP +, , O +far RB B-ADVP +above IN B-PP +the DT B-NP +usual JJ I-NP +volume NN I-NP +. . O + +Ford NNP B-NP +'s POS B-NP +share NN I-NP +purchases NNS I-NP +undoubtedly RB B-ADVP +accounted VBD B-VP +for IN B-PP +much NN B-NP +of IN B-PP +Monday NNP B-NP +'s POS B-NP +heavy JJ I-NP +trading NN I-NP +. . O + +Last JJ B-NP +week NN I-NP +, , O +many JJ B-NP +Jaguar NNP I-NP +shareholders NNS I-NP +took VBD B-VP +their PRP$ B-NP +money NN I-NP +and CC O +ran VBD B-VP +. . O + +Fears NNS B-NP +that IN B-SBAR +Ford NNP B-NP +'s POS B-NP +ardor NN I-NP +might MD B-VP +be VB I-VP +cooling NN I-VP +put NN B-VP +Jaguar NNP B-NP +shares NNS I-NP +into IN B-PP +reverse NN B-NP +after IN B-SBAR +GM NNP B-NP +confirmed VBD B-VP +its PRP$ B-NP +friendly JJ I-NP +negotiations NNS I-NP +with IN B-PP +Jaguar NNP B-NP +. . O + +But CC O +yesterday NN B-NP +'s POS B-NP +announcement NN I-NP +indicates VBZ B-VP +that IN B-SBAR +Ford NNP B-NP +has VBZ B-VP +n't RB I-VP +lost VBN I-VP +interest NN B-NP +. . O + +Both DT B-NP +Shearson NNP B-NP +'s POS B-NP +Mr NNP I-NP +. . I-NP +Will MD I-NP +and CC O +Stephen NNP B-NP +Reitman NNP I-NP +, , O +European JJ B-NP +auto NN I-NP +analyst NN I-NP +at IN B-PP +the DT B-NP +London NNP I-NP +brokerage NN I-NP +firm NN I-NP +UBS-Phillips NNP I-NP +& CC I-NP +Drew NNP I-NP +, , O +recently RB B-ADVP +switched VBD B-VP +their PRP$ B-NP +Jaguar NNP I-NP +recommendations NNS I-NP +to TO B-PP +hold VB B-NP +from IN B-PP +buy NN B-NP +. . O + +`` `` O +Sit VB B-VP +tight JJ B-ADVP +'' '' O +through IN B-PP +the DT B-NP +coming VBG I-NP +volatility NN I-NP +, , O +Mr. NNP B-NP +Reitman NNP I-NP +suggests VBZ B-VP +, , O +though IN B-SBAR +he PRP B-NP +concedes VBZ B-VP +that IN B-SBAR +many JJ B-NP +small JJ I-NP +investors NNS I-NP +will MD B-VP +find VB I-VP +Jaguar NNP B-NP +'s POS B-NP +zigzags NNS I-NP +`` `` O +too RB B-ADJP +hard JJ I-ADJP +to TO B-VP +swallow VB I-VP +. . O +'' '' O + +But CC O +a DT B-NP +crucial JJ I-NP +point NN I-NP +is VBZ B-VP +how WRB B-ADVP +Ford NNP B-NP +reacts VBZ B-VP +when WRB B-ADVP +GM NNP B-NP +, , O +the DT B-NP +world NN I-NP +'s POS B-NP +largest JJS I-NP +auto NN I-NP +maker NN I-NP +, , O +firms VBZ B-VP +up IN B-PRT +its PRP$ B-NP +proposed VBN I-NP +deal NN I-NP +with IN B-PP +Jaguar NNP B-NP +. . O + +At IN B-PP +the DT B-NP +moment NN I-NP +, , O +Ford NNP B-NP +executives NNS I-NP +will MD B-VP +say VB I-VP +little JJ B-NP +beyond IN B-PP +reiterating VBG B-VP +their PRP$ B-NP +desire NN I-NP +to TO B-VP +raise VB I-VP +Ford NNP B-NP +'s POS B-NP +Jaguar NNP I-NP +stake NN I-NP +to TO B-PP +about IN B-NP +15 CD I-NP +% NN I-NP +. . O + +GM NNP B-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +inject VB I-VP +roughly RB B-NP +# # I-NP +200 CD I-NP +million CD I-NP +-LRB- ( O +$ $ B-NP +316 CD I-NP +million CD I-NP +-RRB- ) O +by IN B-PP +acquiring VBG B-VP +some DT B-NP +Jaguar NNP I-NP +shares NNS I-NP +, , O +and CC O +then RB B-VP +win VB I-VP +Jaguar NNP B-NP +management NN I-NP +'s POS B-NP +promise NN I-NP +of IN B-PP +an DT B-NP +eventual JJ I-NP +30 CD I-NP +% NN I-NP +stake NN I-NP +. . O + +Analysts NNS B-NP +believe VBP B-VP +the DT B-NP +car NN I-NP +makers NNS I-NP +also RB B-ADVP +will MD B-VP +create VB I-VP +joint JJ B-NP +ventures NNS I-NP +to TO B-VP +develop VB I-VP +new JJ B-NP +executive NN I-NP +models NNS I-NP +, , O +doubling VBG B-VP +Jaguar NNP B-NP +'s POS B-NP +yearly JJ I-NP +output NN I-NP +of IN B-PP +50,000 CD B-NP +cars NNS I-NP +. . O + +Jaguar NN B-NP +shareholders NNS I-NP +would MD B-VP +have VB I-VP +to TO I-VP +bless VB I-VP +such JJ B-NP +a DT I-NP +far-reaching JJ I-NP +accord NN I-NP +. . O + +Ford NNP B-NP +might MD B-VP +challenge VB I-VP +the DT B-NP +proposal NN I-NP +by IN B-PP +offering VBG B-VP +a DT B-NP +full JJ I-NP +bid NN I-NP +if IN B-SBAR +holders NNS B-NP +and CC O +the DT B-NP +U.K. NNP I-NP +government NN I-NP +agreed VBD B-VP +to TO I-VP +drop VB I-VP +the DT B-NP +anti-takeover JJ I-NP +barrier NN I-NP +early JJ B-ADVP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +Ford NNP B-NP +is VBZ B-VP +going VBG I-VP +to TO I-VP +come VB I-VP +out IN B-PRT +with IN B-PP +full JJ B-NP +guns NNS I-NP +blazing VBG B-VP +, , O +'' '' O +Mr. NNP B-NP +Reitman NNP I-NP +says VBZ B-VP +. . O + +`` `` O +Ford NNP B-NP +wants VBZ B-VP +-LCB- ( O +Jaguar NNP B-NP +-RCB- ) O +very RB B-ADVP +much RB I-ADVP +. . O +'' '' O + +U.S. NNP B-NP +takeover-stock JJ I-NP +speculators NNS I-NP +, , O +who WP B-NP +may MD B-VP +own VB I-VP +between IN B-NP +20 CD I-NP +% NN I-NP +and CC I-NP +30 CD I-NP +% NN I-NP +of IN B-PP +Jaguar NNP B-NP +, , O +could MD B-VP +give VB I-VP +Ford NNP B-NP +enough RB B-NP +votes VBZ I-NP +to TO B-VP +block VB I-VP +the DT B-NP +GM NNP I-NP +deal NN I-NP +. . O + +GM NNP B-NP +might MD B-VP +counterbid NN I-VP +. . O + +Then RB B-ADVP +, , O +Mr NNP B-NP +. . I-NP +Will MD I-NP +says VBZ B-VP +, , O +`` `` O +you PRP B-NP +get VBP B-VP +a DT B-NP +bidding NN I-NP +war NN I-NP +between IN B-PP +two CD B-NP +very RB I-NP +rich JJ I-NP +, , I-NP +very RB I-NP +determined VBN I-NP +international JJ I-NP +companies NNS I-NP +. . O +'' '' O + +He PRP B-NP +believes VBZ B-VP +Jaguar NNP B-NP +'s POS B-NP +share NN I-NP +price NN I-NP +could MD B-VP +zoom VB I-VP +to TO B-PP +between IN B-NP +# # I-NP +8 CD I-NP +and CC I-NP +# # I-NP +10 CD I-NP +-LRB- ( O +$ $ B-NP +12.60 CD I-NP +to TO I-NP +$ $ I-NP +15.80 CD I-NP +-RRB- ) O +. . O + +`` `` O +There EX B-NP +'s VBZ B-VP +quite RB B-NP +a DT I-NP +bit NN I-NP +of IN B-PP +value NN B-NP +left VBN B-VP +in IN B-PP +the DT O +-LCB- ( O +Jaguar NNP B-NP +-RCB- ) B-NP +shares NNS I-NP +here RB B-ADVP +even RB B-ADVP +though IN B-SBAR +they PRP B-NP +have VBP B-VP +run VBN I-VP +up IN B-PRT +'' '' O +lately RB B-ADVP +, , O +says VBZ B-VP +Doug NNP B-NP +Johnson NNP I-NP +, , O +a DT B-NP +fund NN I-NP +manager NN I-NP +for IN B-PP +Seattle-based JJ B-NP +Safeco NNP I-NP +Asset NNP I-NP +Management NNP I-NP +. . O + +At IN B-PP +the DT B-NP +moment NN I-NP +, , O +he PRP B-NP +intends VBZ B-VP +to TO I-VP +keep VB I-VP +the DT B-NP +firm NN I-NP +'s POS B-NP +180,000 CD I-NP +Jaguar NNP I-NP +shares NNS I-NP +. . O + +The DT B-NP +risk NN I-NP +is VBZ B-VP +that IN B-SBAR +Jaguar NNP B-NP +'s POS B-NP +share NN I-NP +price NN I-NP +could MD B-VP +slump VB I-VP +if IN B-SBAR +GM NNP B-NP +'s POS B-NP +agreement NN I-NP +with IN B-PP +Jaguar NNP B-NP +effectively RB B-VP +locks VBZ I-VP +out IN B-PRT +its PRP$ B-NP +U.S. NNP I-NP +rival JJ I-NP +. . O + +`` `` O +Ford NNP B-NP +'s POS B-NP +appetite NN I-NP +to TO B-VP +attack VB I-VP +-LCB- ( O +Jaguar NNP B-NP +-RCB- ) O +could MD B-VP +gradually RB I-VP +wane VB I-VP +over IN B-PP +time NN B-NP +, , O +particularly RB B-ADVP +if IN B-SBAR +Saab NNP B-NP +is VBZ B-VP +a DT B-NP +reasonably RB I-NP +attractive JJ I-NP +proposition NN I-NP +, , O +'' '' O +says VBZ B-VP +John NNP B-NP +Lawson NNP I-NP +, , O +an DT B-NP +auto NN I-NP +analyst NN I-NP +at IN B-PP +London NNP B-NP +'s POS B-NP +Nomura NNP I-NP +Research NNP I-NP +Institute NNP I-NP +. . O + +He PRP B-NP +thinks VBZ B-VP +Saab-Scania NNP B-NP +AB NNP I-NP +on IN B-PP +Friday NNP B-NP +will MD B-VP +announce VB I-VP +the DT B-NP +sale NN I-NP +of IN B-PP +50 CD B-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +car NN I-NP +division NN I-NP +to TO B-PP +Ford NNP B-NP +; : O +the DT B-NP +companies NNS I-NP +have VBP B-VP +been VBN I-VP +discussing VBG I-VP +closer JJR B-NP +cooperation NN I-NP +for IN B-PP +months NNS B-NP +. . O + +Clifford NNP B-NP +Stahl NNP I-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +investment NN I-NP +officer NN I-NP +of IN B-PP +C-S NNP B-NP +Capital NNP I-NP +Advisors NNP I-NP +Inc. NNP I-NP +, , O +two CD B-NP +weeks NNS I-NP +ago RB B-ADVP +sold VBN B-VP +his PRP$ B-NP +Cincinnati NNP I-NP +firm NN I-NP +'s POS B-NP +107,100 CD I-NP +Jaguar NNP I-NP +ADRs NNS I-NP +at IN B-PP +about IN B-NP +10 CD I-NP +each DT B-NP +, , O +making VBG B-VP +a DT B-NP +tidy JJ I-NP +profit NN I-NP +on IN B-PP +a DT B-NP +holding VBG I-NP +purchased VBN B-VP +at IN B-PP +4 CD B-NP +7\/8 CD I-NP +in IN B-PP +early JJ B-NP +May NNP I-NP +. . O + +`` `` O +I PRP B-NP +thought VBD B-VP +the DT B-NP +probabilities NNS I-NP +of IN B-PP +-LCB- ( O +a DT B-NP +bidding NN I-NP +war NN I-NP +-RCB- ) O +happening VBG B-VP +were VBD B-VP +less JJR B-ADJP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +Of IN B-PP +course NN B-NP +, , O +that WDT B-NP +was VBD B-VP +before IN B-PP +Ford NNP B-NP +'s POS B-NP +latest JJS I-NP +move NN I-NP +. . O + +Jaguar NNP B-NP +-LRB- ( O +OTC NNP B-NP +; : O +Symbol NN B-NP +: : O +JAGRY NNP B-NP +-RRB- ) O + +Business NN B-NP +: : O +Luxury NN B-NP +cars NNS I-NP + +Year NN B-NP +ended VBN B-VP +Dec. NNP B-NP +31 CD I-NP +, , I-NP +1988 CD I-NP +: : O + +Revenue NN B-NP +: : O +$ $ B-NP +1.71 CD I-NP +billion CD I-NP + +Net JJ B-NP +income NN I-NP +: : O +$ $ B-NP +44.9 CD I-NP +million CD I-NP +; : O +or CC O +25 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP + +First JJ B-NP +half NN I-NP +ended VBD B-VP +, , O +June NNP B-NP +30 CD I-NP +, , I-NP +1989 CD I-NP +: : O + +Net JJ B-NP +loss NN I-NP +: : O +$ $ B-NP +1.7 CD I-NP +million CD I-NP +vs. IN B-PP +net JJ B-NP +income NN I-NP +: : O +$ $ B-NP +21.2 CD I-NP +million CD I-NP +; : O +or CC O +12 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP + +Averae NNP B-NP +daily JJ I-NP +trading NN I-NP +volume NN I-NP +: : O +Ordinary JJ B-NP +shares NNS I-NP +outstanding JJ B-ADJP +: : O +182.9 CD B-NP +million CD I-NP + +NOTE NN B-NP +: : O +All DT B-NP +figures NNS I-NP +are VBP B-VP +translated VBN I-VP +into IN B-PP +U.S. NNP B-NP +dollars NNS I-NP +based VBN B-PP +on IN B-PP +current JJ B-NP +exchange NN I-NP +rates NNS I-NP +. . O + +A.F. NNP B-NP +Sloan NNP I-NP +, , O +60 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +announced VBD B-VP +that IN B-SBAR +he PRP B-NP +will MD B-VP +retire VB I-VP +next JJ B-NP +April NNP I-NP +as IN B-PP +chairman NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +this DT B-NP +snack NN I-NP +food NN I-NP +and CC I-NP +bakery NN I-NP +products NNS I-NP +maker NN I-NP +. . O + +No DT B-NP +replacement NN I-NP +was VBD B-VP +immediately RB I-VP +named VBN I-VP +. . O + +Mr. NNP B-NP +Sloan NNP I-NP +plans VBZ B-VP +to TO I-VP +remain VB I-VP +on IN B-PP +the DT B-NP +board NN I-NP +until IN B-SBAR +his PRP$ B-NP +current JJ I-NP +term NN I-NP +expires VBZ B-VP +in IN B-PP +April NNP B-NP +1991 CD I-NP +, , O +a DT B-NP +Lance NNP I-NP +spokesman NN I-NP +said VBD B-VP +. . O + +Newport NNP B-NP +Electronics NNP I-NP +Inc. NNP I-NP +of IN B-PP +Santa NNP B-NP +Ana NNP I-NP +, , O +Calif. NNP B-NP +, , O +said VBD B-VP +Milton NNP B-NP +B. NNP I-NP +Hollander NNP I-NP +, , O +who WP B-NP +holds VBZ B-VP +a DT B-NP +49.4 CD I-NP +% NN I-NP +stake NN I-NP +, , O +requested VBD B-VP +a DT B-NP +special JJ I-NP +shareholders NNS I-NP +' POS B-NP +meeting NN I-NP +next JJ B-NP +Wednesday NNP I-NP +to TO B-VP +remove VB I-VP +four CD B-NP +current JJ I-NP +directors NNS I-NP +and CC O +elect VB B-VP +an DT B-NP +alternative NN I-NP +slate NN I-NP +. . O + +Mr. NNP B-NP +Hollander NNP I-NP +'s POS B-NP +High NNP I-NP +Technology NNP I-NP +Holding NNP I-NP +Co. NNP I-NP +of IN B-PP +Stamford NNP B-NP +, , O +Conn. NNP B-NP +, , O +acquired VBN B-VP +most RBS B-NP +of IN B-PP +its PRP$ B-NP +stake NN I-NP +last JJ B-NP +August NNP I-NP +in IN B-PP +an DT B-NP +$ $ I-NP +11-a-share JJ I-NP +tender NN I-NP +offer NN I-NP +for IN B-PP +Newport NNP B-NP +, , O +a DT B-NP +maker NN I-NP +of IN B-PP +electronic-measuring JJ B-NP +devices NNS I-NP +. . O + +Newport NNP B-NP +said VBD B-VP +Mr. NNP B-NP +Hollander NNP I-NP +is VBZ B-VP +asking VBG I-VP +shareholders NNS B-NP +to TO B-VP +retain VB I-VP +only RB B-NP +one CD I-NP +director NN I-NP +, , O +James NNP B-NP +R. NNP I-NP +Lees NNP I-NP +, , O +a DT B-NP +Newport NNP I-NP +vice NN I-NP +president NN I-NP +. . O + +The DT B-NP +board NN I-NP +is VBZ B-VP +n't RB I-VP +proposing VBG I-VP +a DT B-NP +slate NN I-NP +of IN B-PP +its PRP$ B-NP +own JJ I-NP +and CC O +the DT B-NP +other JJ I-NP +four CD I-NP +current JJ I-NP +directors NNS I-NP +do VBP B-VP +n't RB I-VP +want VB I-VP +to TO I-VP +serve VB I-VP +beyond IN B-PP +the DT B-NP +special JJ I-NP +meeting NN I-NP +date NN I-NP +, , O +Newport NNP B-NP +said VBD B-VP +. . O + +Mr. NNP B-NP +Hollander NNP I-NP +`` `` O +is VBZ B-VP +the DT B-NP +new JJ I-NP +owner NN I-NP +and CC O +wants VBZ B-VP +to TO I-VP +exercise VB I-VP +control NN B-NP +, , O +'' '' O +said VBD B-VP +Barret NNP B-NP +B. NNP I-NP +Weekes NNP I-NP +, , O +Newport NNP B-NP +'s POS B-NP +chairman NN I-NP +. . O + +Sandoz NNP B-NP +AG NNP I-NP +, , O +a DT B-NP +major JJ I-NP +Swiss JJ I-NP +chemical NN I-NP +and CC I-NP +pharmaceutical JJ I-NP +group NN I-NP +, , O +said VBD B-VP +that IN O +its PRP$ B-NP +group NN I-NP +sales NNS I-NP +rose VBD B-VP +25 CD B-NP +% NN I-NP +to TO B-PP +9.482 CD B-NP +billion CD I-NP +francs NNS I-NP +-LRB- ( O +$ $ B-NP +5.80 CD I-NP +billion CD I-NP +-RRB- ) O +in IN B-PP +the DT B-NP +first JJ I-NP +nine CD I-NP +months NNS I-NP +of IN B-PP +this DT B-NP +year NN I-NP +, , O +with IN B-PP +strong JJ B-NP +gains NNS I-NP +in IN B-PP +all DT B-NP +divisions NNS I-NP +. . O + +A DT B-NP +year NN I-NP +earlier JJR B-ADVP +sales NNS B-NP +totaled VBD B-VP +7.567 CD B-NP +billion CD I-NP +francs NNS I-NP +. . O + +Positive JJ B-NP +currency NN I-NP +rates NNS I-NP +and CC O +strong JJ B-NP +sales NNS I-NP +growth NN I-NP +led VBN B-VP +to TO B-PP +a DT B-NP +substantial JJ I-NP +rise NN I-NP +in IN B-PP +consolidated JJ B-NP +profit NN I-NP +in IN B-PP +the DT B-NP +period NN I-NP +, , O +although IN B-SBAR +the DT B-NP +company NN I-NP +did VBD B-VP +n't RB I-VP +provide VB I-VP +figures NNS B-NP +, , O +as IN B-SBAR +is VBZ B-VP +customary JJ B-ADJP +with IN B-PP +Swiss JJ B-NP +companies NNS I-NP +. . O + +Sandoz NNP B-NP +said VBD B-VP +it PRP B-NP +expects VBZ B-VP +a DT B-NP +`` `` I-NP +substantial JJ I-NP +increase NN I-NP +'' '' O +in IN B-PP +consolidated JJ B-NP +profit NN I-NP +for IN B-PP +the DT B-NP +full JJ I-NP +year NN I-NP +, , O +barring VBG B-VP +major JJ B-NP +currency NN I-NP +rate NN I-NP +changes NNS I-NP +. . O + +Amstrad NNP B-NP +PLC NNP I-NP +, , O +a DT B-NP +British JJ I-NP +maker NN I-NP +of IN B-PP +computer NN B-NP +hardware NN I-NP +and CC O +communications NNS B-NP +equipment NN I-NP +, , O +posted VBD B-VP +a DT B-NP +52 CD I-NP +% NN I-NP +plunge NN I-NP +in IN B-PP +pretax JJ B-NP +profit NN I-NP +for IN B-PP +the DT B-NP +latest JJS I-NP +year NN I-NP +. . O + +The DT B-NP +# # I-NP +76.6 CD I-NP +million CD I-NP +-LRB- ( O +$ $ B-NP +120.6 CD I-NP +million CD I-NP +-RRB- ) O +in IN B-PP +pretax JJ B-NP +profit NN I-NP +for IN B-PP +the DT B-NP +12 CD I-NP +months NNS I-NP +to TO B-PP +June NNP B-NP +30 CD I-NP +was VBD B-VP +down RB B-ADVP +from IN B-PP +# # B-NP +160 CD I-NP +million CD I-NP +-LRB- ( O +$ $ B-NP +252 CD I-NP +million CD I-NP +-RRB- ) O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +and CC O +below IN B-PP +market NN B-NP +expectations NNS I-NP +of IN B-PP +# # B-NP +80 CD I-NP +million CD I-NP +and CC I-NP +# # I-NP +90 CD I-NP +million CD I-NP +. . O + +The DT B-NP +slump NN I-NP +in IN B-PP +profit NN B-NP +, , O +which WDT B-NP +came VBD B-VP +despite IN B-PP +steady JJ B-NP +sales NNS I-NP +, , O +was VBD B-VP +attributed VBN I-VP +to TO B-PP +increased VB B-NP +costs NNS I-NP +for IN B-PP +parts NNS B-NP +and CC O +problems NNS B-NP +with IN B-PP +model NN B-NP +introductions NNS I-NP +. . O + +Amstrad NNP B-NP +'s POS B-NP +profit NN I-NP +after IN B-PP +taxes NNS B-NP +fell VBD B-VP +a DT B-NP +similarly RB I-NP +steep JJ I-NP +51 CD I-NP +% NN I-NP +, , O +to TO B-PP +# # B-NP +51.1 CD I-NP +million CD I-NP +from IN B-PP +# # B-NP +105 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Sales NNS B-NP +edged VBD B-VP +up IN B-ADVP +fractionally RB B-ADVP +to TO B-PP +# # B-NP +626.3 CD I-NP +million CD I-NP +from IN B-PP +# # B-NP +625.4 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Microsoft NNP B-NP +Corp. NNP I-NP +'s POS B-NP +earnings NNS I-NP +growth NN I-NP +continued VBD B-VP +to TO I-VP +outstrip VB I-VP +that IN B-NP +of IN B-PP +most RBS B-NP +of IN B-PP +its PRP$ B-NP +competitors NNS I-NP +and CC I-NP +customers NNS I-NP +in IN B-PP +the DT B-NP +personal-computer NN I-NP +industry NN I-NP +, , O +as IN B-SBAR +it PRP B-NP +reported VBD B-VP +a DT B-NP +36 CD I-NP +% NN I-NP +jump NN I-NP +in IN B-PP +fiscal JJ B-NP +first-quarter JJ I-NP +earnings NNS I-NP +on IN B-PP +a DT B-NP +33 CD I-NP +% NN I-NP +revenue NN I-NP +gain NN I-NP +. . O + +The DT B-NP +Redmond NNP I-NP +, , I-NP +Wash. NNP I-NP +company NN I-NP +, , O +a DT B-NP +bellwether NN I-NP +provider NN I-NP +of IN B-PP +operating VBG B-NP +systems NNS I-NP +and CC O +software NN B-NP +for IN B-PP +personal-computer NN B-NP +makers NNS I-NP +and CC I-NP +users NNS I-NP +, , O +reported VBD B-VP +net JJ B-NP +income NN I-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +ended VBN B-VP +Sept. NNP B-NP +30 CD I-NP +of IN B-PP +$ $ B-NP +49.6 CD I-NP +million CD I-NP +, , O +or CC O +87 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +up IN B-ADVP +from IN B-PP +$ $ B-NP +36.6 CD I-NP +million CD I-NP +, , O +or CC O +65 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +the DT B-NP +year-ago JJ I-NP +period NN I-NP +. . O + +Revenue NN B-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +235.2 CD I-NP +million CD I-NP +, , O +from IN B-PP +$ $ B-NP +176.4 CD I-NP +million CD I-NP +. . O + +Microsoft NNP B-NP +previously RB B-ADVP +indicated VBD B-VP +it PRP B-NP +would MD B-VP +have VB I-VP +a DT B-NP +strong JJ I-NP +quarter NN I-NP +by IN B-PP +forecasting VBG B-VP +its PRP$ B-NP +revenue NN I-NP +gain NN I-NP +on IN B-PP +Oct. NNP B-NP +4 CD I-NP +, , O +causing VBG B-VP +a DT O +$ $ B-NP +6.50 CD I-NP +a DT B-NP +share NN I-NP +jump NN B-NP +in IN B-PP +its PRP$ B-NP +stock NN I-NP +. . O + +But CC O +its PRP$ B-NP +stock NN I-NP +jumped VBD B-VP +again RB B-ADVP +yesterday NN B-NP +as IN B-SBAR +it PRP B-NP +disclosed VBD B-VP +surprisingly RB B-NP +strong JJ I-NP +margins NNS I-NP +on IN B-PP +those DT B-NP +sales NNS I-NP +. . O + +Microsoft NNP B-NP +'s POS B-NP +stock NN I-NP +rose VBD B-VP +$ $ B-NP +2.875 CD I-NP +a DT B-NP +share NN I-NP +in IN B-PP +national JJ B-NP +over-the-counter JJ I-NP +trading NN I-NP +to TO B-PP +$ $ B-NP +78.625 CD I-NP +. . O + +The DT B-NP +stock NN I-NP +had VBD B-VP +hit VBN I-VP +a DT B-NP +high NN I-NP +of IN B-PP +$ $ B-NP +81 CD I-NP +a DT B-NP +share NN I-NP +early JJ B-ADVP +last JJ B-NP +week NN I-NP +but CC O +collapsed VBD B-VP +to TO B-PP +$ $ B-NP +73.50 CD I-NP +in IN B-PP +the DT B-NP +Friday NNP I-NP +stock NN I-NP +plunge NN I-NP +. . O + +The DT B-NP +company NN I-NP +had VBD B-VP +been VBN I-VP +experiencing VBG I-VP +softening VBG B-NP +margins NNS I-NP +because IN B-PP +of IN I-PP +increased VBN B-NP +sales NNS I-NP +of IN B-PP +software NN B-NP +applications NNS I-NP +, , O +which WDT B-NP +have VBP B-VP +lower JJR B-NP +margins NNS I-NP +than IN B-SBAR +do VBP B-VP +operating VBG B-NP +systems NNS I-NP +. . O + +But CC O +the DT B-NP +company NN I-NP +said VBD B-VP +that DT B-NP +trend NN I-NP +was VBD B-VP +offset VBN I-VP +in IN B-PP +the DT B-NP +first JJ I-NP +quarter NN I-NP +by IN B-PP +better JJR B-NP +economies NNS I-NP +of IN B-PP +scale NN B-NP +and CC O +efficiencies NNS B-NP +in IN B-PP +manufacturing NN B-NP +. . O + +As IN B-PP +a DT B-NP +result NN I-NP +, , O +Microsoft NNP B-NP +'s POS B-NP +cost NN I-NP +of IN B-PP +goods NNS B-NP +, , O +as IN B-PP +a DT B-NP +percentage NN I-NP +of IN B-PP +sales NNS B-NP +, , O +fell VBD B-VP +17 CD B-NP +% NN I-NP +from IN B-PP +the DT B-NP +year-ago JJ I-NP +quarter NN I-NP +and CC O +13 CD B-NP +% NN I-NP +from IN B-PP +the DT B-NP +previous JJ I-NP +period NN I-NP +. . O + +The DT B-NP +trend NN I-NP +drove VBD B-VP +up IN B-ADVP +the DT B-NP +aftertax JJ I-NP +margin NN I-NP +-- : O +net JJ B-NP +income NN I-NP +as IN B-PP +a DT B-NP +percentage NN I-NP +of IN B-PP +revenues NNS B-NP +-- : O +to TO B-PP +21.1 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +quarter NN I-NP +, , O +compared VBN B-PP +with IN B-PP +20.7 CD B-NP +% NN I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Microsoft NNP B-NP +officials NNS I-NP +said VBD B-VP +the DT B-NP +strong JJ I-NP +results NNS I-NP +also RB B-ADVP +reflected VBD B-VP +continuing VBG B-NP +high JJ I-NP +demand NN I-NP +for IN B-PP +its PRP$ B-NP +software NN I-NP +applications NNS I-NP +and CC O +operating VBG B-NP +systems NNS I-NP +. . O + +While IN B-SBAR +it PRP B-NP +has VBZ B-VP +predicted VBN I-VP +that IN B-SBAR +overall JJ B-NP +growth NN I-NP +in IN B-PP +unit NN B-NP +sales NNS I-NP +of IN B-PP +personal JJ B-NP +computers NNS I-NP +is VBZ B-VP +slowing VBG I-VP +to TO B-PP +about IN B-NP +a DT I-NP +10 CD I-NP +% NN I-NP +yearly JJ I-NP +rate NN I-NP +, , O +its PRP$ B-NP +own JJ I-NP +products NNS I-NP +are VBP B-VP +selling VBG I-VP +at IN B-PP +a DT B-NP +much JJ I-NP +faster JJR I-NP +rate NN I-NP +because IN B-SBAR +many JJ B-NP +are VBP B-VP +geared VBN I-VP +to TO B-PP +the DT B-NP +high-performance JJ I-NP +end NN I-NP +of IN B-PP +the DT B-NP +market NN I-NP +. . O + +That DT B-NP +segment NN I-NP +continues VBZ B-VP +to TO I-VP +post VB I-VP +strong JJ B-NP +quarter-to-quarter JJ I-NP +gains NNS I-NP +, , O +while IN B-SBAR +the DT B-NP +low-end NN I-NP +, , I-NP +or CC I-NP +commodity NN I-NP +segment NN I-NP +, , O +of IN B-PP +the DT B-NP +industry NN I-NP +is VBZ B-VP +experiencing VBG I-VP +sluggish JJ B-NP +growth NN I-NP +or CC O +even RB B-ADVP +sales VBZ B-NP +declines NNS I-NP +. . O + +Compared VBN B-PP +with IN B-PP +its PRP$ B-NP +previous JJ I-NP +quarter NN I-NP +, , O +the DT B-NP +final JJ I-NP +period NN I-NP +of IN B-PP +its PRP$ B-NP +1989 CD I-NP +fiscal JJ I-NP +year NN I-NP +, , O +net NN B-NP +rose VBD B-VP +9 CD B-NP +% NN I-NP +, , O +and CC O +sales NNS B-NP +rose VBD B-VP +7 CD B-NP +% NN I-NP +. . O + +Control NNP B-NP +Data NNP I-NP +Corp. NNP I-NP +, , O +Minneapolis NNP B-NP +, , O +signed VBD B-VP +a DT B-NP +joint JJ I-NP +development NN I-NP +agreement NN I-NP +with IN B-PP +MIPS NNP B-NP +Computer NNP I-NP +Systems NNP I-NP +Inc. NNP I-NP +to TO B-VP +incorporate VB I-VP +an DT B-NP +emerging VBG I-NP +computing VBG I-NP +architecture NN I-NP +in IN B-PP +future NN B-NP +machines NNS I-NP +. . O + +MIPS NNP B-NP +is VBZ B-VP +a DT B-NP +leader NN I-NP +in IN B-PP +what WP B-NP +is VBZ B-VP +known VBN I-VP +as IN B-PP +reduced-instruction NN B-NP +set VBN I-NP +computing VBG I-NP +, , O +or CC O +RISC NNP B-NP +, , O +a DT B-NP +technology NN I-NP +combining VBG B-VP +microprocessors NNS B-NP +and CC O +sophisticated JJ B-NP +software NN I-NP +. . O + +In IN B-PP +joining VBG B-VP +MIPS NNP B-NP +, , O +Control NNP B-NP +Data NNP I-NP +follows VBZ B-VP +several JJ B-NP +competitors NNS I-NP +in IN B-PP +embracing VBG B-VP +RISC NNP B-NP +as IN B-PP +a DT B-NP +new JJ I-NP +design NN I-NP +approach NN I-NP +. . O + +Digital NNP B-NP +Equipment NNP I-NP +Corp. NNP I-NP +, , O +Tandem NNP B-NP +Computers NNP I-NP +Inc. NNP I-NP +, , O +NEC NNP B-NP +Corp. NNP I-NP +and CC O +Group NNP B-NP +Bull NNP I-NP +, , O +among IN B-PP +others NNS B-NP +, , O +have VBP B-VP +similar JJ B-NP +arrangements NNS I-NP +with IN B-PP +MIPs NNP B-NP +, , O +based VBN B-VP +in IN B-PP +Sunnyvale NNP B-NP +, , O +Calif NNP B-NP +. . O + +Control NNP B-NP +Data NNP I-NP +said VBD B-VP +it PRP B-NP +expects VBZ B-VP +its PRP$ B-NP +first JJ I-NP +RISC-based JJ I-NP +mainframe NN I-NP +machine NN I-NP +to TO B-VP +be VB I-VP +introduced VBN I-VP +next JJ B-NP +year NN I-NP +. . O + +The DT B-NP +accord NN I-NP +with IN B-PP +MIPS NNP B-NP +calls VBZ B-VP +for IN B-SBAR +Control NNP B-NP +Data NNP I-NP +to TO B-VP +share VB I-VP +its PRP$ B-NP +expertise NN I-NP +in IN B-PP +data NNS B-NP +storage NN I-NP +, , O +the DT B-NP +companies NNS I-NP +said VBD B-VP +. . O + +Control NNP B-NP +Data NNP I-NP +also RB B-ADVP +said VBD B-VP +it PRP B-NP +is VBZ B-VP +developing VBG I-VP +what WP B-NP +it PRP B-NP +called VBD B-VP +a DT B-NP +`` `` I-NP +supermainframe NN I-NP +'' '' I-NP +computer NN I-NP +, , O +the DT B-NP +Cyber NNP I-NP +2000 CD I-NP +, , O +intended VBN B-VP +for IN B-PP +scientists NNS B-NP +, , O +engineers NNS B-NP +and CC O +other JJ B-NP +users NNS I-NP +of IN B-PP +generalpurpose JJ B-NP +high-performance JJ I-NP +computers NNS I-NP +. . O + +UAL'S NNP B-NP +STOCK NN I-NP +SKIDDED VBD B-VP +an DT B-NP +additional JJ I-NP +$ $ I-NP +24.875 CD I-NP +, , O +to TO B-PP +$ $ B-NP +198 CD I-NP +, , O +as IN B-SBAR +British JJ B-NP +Airways NNPS I-NP +indicated VBD B-VP +it PRP B-NP +may MD B-VP +balk VB I-VP +at IN B-PP +any DT B-NP +hastily RB I-NP +revised VBN I-NP +version NN I-NP +of IN B-PP +the DT B-NP +aborted JJ I-NP +$ $ I-NP +6.79 CD I-NP +billion CD I-NP +buy-out NN I-NP +of IN B-PP +United NNP B-NP +Air NNP I-NP +'s POS B-NP +parent NN I-NP +. . O + +UAL NNP B-NP +has VBZ B-VP +fallen VBN I-VP +$ $ B-NP +87.25 CD I-NP +, , O +or CC O +31 CD B-NP +% NN I-NP +, , O +in IN B-PP +the DT B-NP +three CD I-NP +trading NN I-NP +days NNS I-NP +since IN B-SBAR +disclosure NN B-NP +of IN B-PP +the DT B-NP +buy-out NN I-NP +'s POS B-NP +collapse NN I-NP +jolted VBD B-VP +the DT B-NP +stock NN I-NP +market NN I-NP +. . O + +Meanwhile RB B-ADVP +, , O +investor NN B-NP +Marvin NNP I-NP +Davis NNP I-NP +said VBD B-VP +he PRP B-NP +remains VBZ B-VP +interested JJ B-ADJP +in IN B-PP +UAL NNP B-NP +, , O +but CC O +he PRP B-NP +dropped VBD B-VP +his PRP$ B-NP +earlier RBR I-NP +$ $ I-NP +300-a-share JJ I-NP +back-up NN I-NP +bid NN I-NP +. . O + +Stock NN B-NP +prices NNS I-NP +fell VBD B-VP +broadly RB B-ADVP +in IN B-PP +heavy JJ B-NP +trading NN I-NP +, , O +dominated VBN B-VP +by IN B-PP +futures-related JJ B-NP +program NN I-NP +selling VBG I-NP +and CC O +further JJ B-NP +declines NNS I-NP +by IN B-PP +UAL NNP B-NP +and CC O +other JJ B-NP +airline NN I-NP +stocks NNS I-NP +. . O + +The DT B-NP +Dow NNP I-NP +Jones NNP I-NP +industrials NNS I-NP +closed VBD B-VP +off IN B-ADVP +18.65 CD B-NP +points NNS I-NP +, , O +at IN B-PP +2638.73 CD B-NP +, , O +after IN B-PP +plunging VBG B-VP +over IN B-NP +60.25 CD I-NP +points NNS I-NP +in IN B-PP +the DT B-NP +morning NN I-NP +. . O + +Bond NN B-NP +prices NNS I-NP +ended VBD B-VP +lower JJR B-ADJP +after IN B-PP +an DT B-NP +early JJ I-NP +rally NN I-NP +, , O +while IN B-SBAR +the DT B-NP +dollar NN I-NP +was VBD B-VP +mixed VBN I-VP +. . O + +The DT B-NP +U.S. NNP I-NP +trade NN I-NP +deficit NN I-NP +swelled VBD B-VP +to TO B-PP +$ $ B-NP +10.77 CD I-NP +billion CD I-NP +in IN B-PP +August NNP B-NP +, , O +prompting VBG B-VP +worries NNS B-NP +that IN B-SBAR +the DT B-NP +nation NN I-NP +'s POS B-NP +export NN I-NP +drive NN I-NP +had VBD B-VP +stalled VBN I-VP +. . O + +Exports NNS B-NP +declined VBD B-VP +for IN B-PP +the DT B-NP +second JJ I-NP +month NN I-NP +in IN B-PP +a DT B-NP +row NN I-NP +, , O +while IN B-SBAR +imports NNS B-NP +rose VBD B-VP +to TO B-PP +a DT B-NP +record NN I-NP +. . O + +An DT B-NP +analyst NN I-NP +called VBD B-VP +it PRP B-NP +one CD B-NP +of IN B-PP +the DT B-NP +worst JJS I-NP +trade NN I-NP +reports NNS I-NP +since IN B-SBAR +the DT B-NP +dollar NN I-NP +bottomed VBN B-VP +out IN B-PRT +in IN B-PP + +Industrial JJ B-NP +output NN I-NP +fell VBD B-VP +0.1 CD B-NP +% NN I-NP +in IN B-PP +September NNP B-NP +, , O +the DT B-NP +latest JJS I-NP +sign NN I-NP +manufacturing NN B-NP +is VBZ B-VP +slowing VBG I-VP +. . O + +An DT B-NP +analyst NN I-NP +cited VBD B-VP +weaker JJR B-NP +capital NN I-NP +spending NN I-NP +and CC I-NP +exports NNS I-NP +. . O + +Bankers NNP B-NP +Trust NNP I-NP +added VBD B-VP +$ $ B-NP +1.6 CD I-NP +billion CD I-NP +to TO B-PP +reserves NNS B-NP +for IN B-PP +Third NNP B-NP +World NNP I-NP +loans NNS I-NP +, , O +the DT B-NP +latest JJS I-NP +big JJ I-NP +bank NN I-NP +to TO B-VP +take VB I-VP +such JJ B-NP +a DT I-NP +step NN I-NP +. . O + +It PRP B-NP +expects VBZ B-VP +a DT B-NP +$ $ I-NP +1.42 CD I-NP +billion CD I-NP +quarterly JJ I-NP +loss NN I-NP +. . O + +Citicorp NNP B-NP +posted VBD B-VP +a DT B-NP +9 CD I-NP +% NN I-NP +drop NN I-NP +in IN B-PP +quarterly JJ B-NP +profit NN I-NP +. . O + +Manufacturers NNP B-NP +Hanover NNP I-NP +had VBD B-VP +a DT B-NP +loss NN I-NP +due JJ B-ADJP +to TO B-PP +a DT B-NP +big JJ I-NP +reserve NN I-NP +addition NN I-NP +. . O + +Bank NNP B-NP +of IN B-PP +New NNP B-NP +England NNP I-NP +plans VBZ B-VP +to TO I-VP +sell VB I-VP +some DT B-NP +operations NNS I-NP +and CC O +lay VBD B-VP +off IN B-PRT +4 CD B-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +work NN I-NP +force NN I-NP +after IN B-PP +a DT B-NP +year NN I-NP +of IN B-PP +weak JJ B-NP +earnings NNS I-NP +and CC O +mounting VBG B-NP +loan NN I-NP +problems NNS I-NP +. . O + +Eastern NNP B-NP +Airlines NNPS I-NP +' POS B-NP +creditors NNS I-NP +have VBP B-VP +begun VBN I-VP +exploring VBG I-VP +alternative NN B-NP +approaches NNS I-NP +to TO B-PP +a DT B-NP +Chapter NN I-NP +11 CD I-NP +reorganization NN I-NP +because IN B-SBAR +they PRP B-NP +are VBP B-VP +unhappy JJ B-ADJP +with IN B-PP +the DT B-NP +carrier NN I-NP +'s POS B-NP +latest JJS I-NP +proposal NN I-NP +. . O + +Tele-Communications NNP B-NP +agreed VBD B-VP +to TO I-VP +buy VB I-VP +half NN B-NP +of IN B-PP +Showtime NNP B-NP +Networks NNP I-NP +from IN B-PP +Viacom NNP B-NP +for IN B-PP +$ $ B-NP +225 CD I-NP +million CD I-NP +. . O + +The DT B-NP +move NN I-NP +could MD B-VP +pose VB I-VP +a DT B-NP +new JJ I-NP +challenge NN I-NP +to TO B-PP +Time NNP B-NP +Warner NNP I-NP +'s POS B-NP +Home NNP I-NP +Box NNP I-NP +Office NNP I-NP +. . O + +The DT B-NP +CFTC NNP I-NP +plans VBZ B-VP +to TO I-VP +curb VB I-VP +dual JJ B-NP +trading NN I-NP +on IN B-PP +commodities NNS B-NP +markets NNS I-NP +, , O +in IN B-PP +which WDT B-NP +traders NNS B-NP +buy VBP B-VP +and CC I-VP +sell VB I-VP +both DT O +for IN B-PP +their PRP$ B-NP +own JJ I-NP +account NN I-NP +and CC B-PP +for IN B-PP +clients NNS B-NP +. . O + +The DT B-NP +move NN I-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +anger NN I-VP +traders NNS B-NP +. . O + +FDIC NNP B-NP +Chairman NNP I-NP +Seidman NNP I-NP +said VBD B-VP +that IN B-SBAR +Lincoln NNP B-NP +Savings NNP I-NP +& CC I-NP +Loan NNP I-NP +of IN B-PP +California NNP B-NP +should MD B-VP +have VB I-VP +been VBN I-VP +seized VBN I-VP +in IN B-PP +1986 CD B-NP +to TO B-VP +contain VB I-VP +losses NNS B-NP +he PRP B-NP +estimated VBD B-VP +will MD B-VP +cost VB I-VP +taxpayers NNS B-NP +as RB B-NP +much JJ I-NP +as IN B-PP +$ $ B-NP +2 CD I-NP +billion CD I-NP +. . O + +A DT B-NP +$ $ I-NP +67 CD I-NP +billion CD I-NP +spending NN I-NP +bill NN I-NP +was VBD B-VP +approved VBN I-VP +by IN B-PP +House-Senate NNP B-NP +conferees NNS I-NP +that WDT B-NP +includes VBZ B-VP +major JJ B-NP +provisions NNS I-NP +affecting VBG B-VP +the DT B-NP +federal JJ I-NP +mortgage NN I-NP +market NN I-NP +. . O + +Hooker NNP B-NP +'s POS B-NP +U.S. NNP I-NP +unit NN I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +agree VB I-VP +in IN B-PP +principle NN B-NP +this DT B-NP +week NN I-NP +to TO B-VP +sell VB I-VP +its PRP$ B-NP +Merksamer NNP I-NP +Jewelers NNPS I-NP +chain NN I-NP +to TO B-PP +management NN B-NP +, , O +according VBG B-PP +to TO B-PP +executives NNS B-NP +. . O + +The DT B-NP +deficit-reduction NN I-NP +bill NN I-NP +became VBD B-VP +snagged VBN I-VP +over IN B-PP +efforts NNS B-NP +to TO B-VP +streamline VB I-VP +the DT B-NP +House NNP I-NP +version NN I-NP +of IN B-PP +the DT B-NP +legislation NN I-NP +in IN B-PP +advance NN B-NP +of IN B-PP +a DT B-NP +House-Senate NNP I-NP +conference NN I-NP +. . O + +Integrated NNP B-NP +Resources NNPS I-NP +said VBD B-VP +talks NNS B-NP +have VBP B-VP +ended VBN I-VP +with IN B-PP +another DT B-NP +potential JJ I-NP +buyer NN I-NP +of IN B-PP +its PRP$ B-NP +core NN I-NP +businesses NNS I-NP +. . O + +Three CD B-NP +big JJ I-NP +drug NN I-NP +makers NNS I-NP +posted VBD B-VP +robust JJ B-NP +third-quarter JJ I-NP +earnings NNS I-NP +. . O + +Merck NNP B-NP +'s POS B-NP +profit NN I-NP +climbed VBD B-VP +25 CD B-NP +% NN I-NP +, , O +Warner-Lambert NNP B-NP +'s POS B-NP +22 CD I-NP +% NN I-NP +and CC O +Eli NNP B-NP +Lilly NNP I-NP +'s POS B-NP +24 CD I-NP +% NN I-NP +. . O + +Markets NNS B-NP +-- : O + +Stocks NNS B-NP +: : O +Volume NN B-NP +224,070,000 CD B-NP +shares NNS I-NP +. . O + +Dow NNP B-NP +Jones NNP I-NP +industrials NNS I-NP +2638.73 CD B-NP +, , O +off IN B-ADVP +18.65 CD B-NP +; : O +transportation NN B-NP +1254.27 CD B-NP +, , O +off IN B-ADVP +49.96 CD B-NP +; : O +utilities NNS B-NP +214.54 CD B-NP +, , O +off IN B-ADVP +0.19 CD B-NP +. . O + +Bonds NNS B-NP +: : O +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +Treasury NNP I-NP +index NN I-NP +3377.43 CD B-NP +, , O +off IN B-ADVP + +Commodities NNS B-NP +: : O +Dow NNP B-NP +Jones NNP I-NP +futures NNS I-NP +index NN I-NP +129.72 CD B-NP +, , O +unchanged JJ B-ADJP +; : O +spot NN B-NP +index NN I-NP +129.97 CD B-NP +, , O +off IN B-ADVP +0.19 CD B-NP +. . O + +Dollar NN B-NP +: : O +142.75 CD B-NP +yen NN I-NP +, , O +up IN B-ADVP +0.95 CD B-NP +; : O +1.8667 CD B-NP +marks NNS I-NP +, , O +off IN B-ADVP +0.0018 CD B-NP +. . O + +Paul NNP B-NP +Ely NNP I-NP +, , O +general JJ B-NP +partner NN I-NP +of IN B-PP +Alpha NNP B-NP +Partners NNPS I-NP +, , O +a DT B-NP +venture-capital JJ I-NP +firm NN I-NP +based VBN B-VP +in IN B-PP +Menlo NNP B-NP +Park NNP I-NP +, , O +Calif. NNP B-NP +, , O +was VBD B-VP +named VBN I-VP +a DT B-NP +director NN I-NP +of IN B-PP +this DT B-NP +computer NN I-NP +company NN I-NP +. . O + +Mr. NNP B-NP +Ely NNP I-NP +, , O +57 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +temporarily RB B-ADVP +increases VBZ B-VP +the DT B-NP +board NN I-NP +to TO B-PP +seven CD B-NP +members NNS I-NP +. . O + +However RB B-ADVP +, , O +director NN B-NP +Thomas NNP I-NP +O'Rourke NNP I-NP +has VBZ B-VP +said VBD I-VP +he PRP B-NP +wo MD B-VP +n't RB I-VP +seek VB I-VP +re-election NN B-NP +at IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +annual JJ I-NP +meeting NN I-NP +next JJ B-NP +month NN I-NP +. . O + +BroadBeach NNP B-NP +Associates NNP I-NP +Inc. NNP I-NP +, , O +the DT B-NP +Los NNP I-NP +Angeles NNP I-NP +investment NN I-NP +partnership NN I-NP +whose WP$ B-NP +$ $ I-NP +62-a-share JJ I-NP +bid NN I-NP +for IN B-PP +McGill NNP B-NP +Manufacturing NNP I-NP +Co. NNP I-NP +was VBD B-VP +topped VBN I-VP +recently RB B-ADVP +by IN B-PP +a DT B-NP +competing VBG I-NP +offer NN I-NP +from IN B-PP +a DT B-NP +Swedish JJ I-NP +concern NN I-NP +, , O +disclosed VBN B-VP +that IN B-SBAR +it PRP B-NP +sold VBD B-VP +its PRP$ B-NP +entire JJ I-NP +7 CD I-NP +% NN I-NP +McGill NNP I-NP +stake NN I-NP +. . O + +McGill NNP B-NP +, , O +a DT B-NP +Valparaiso NNP I-NP +, , I-NP +Ind. NNP I-NP +, , I-NP +ball-bearing NN I-NP +manufacturer NN I-NP +, , O +had VBD B-VP +rebuffed VBN I-VP +BroadBeach NNP B-NP +'s POS B-NP +proposal NN I-NP +. . O + +It PRP B-NP +has VBZ B-VP +since IN I-VP +asked VBN I-VP +holders NNS B-NP +not RB O +to TO B-VP +immediately RB I-VP +tender VBP I-VP +their PRP$ B-NP +shares NNS I-NP +under IN B-PP +a DT B-NP +recent JJ I-NP +$ $ I-NP +72-a-share JJ I-NP +, , I-NP +or CC I-NP +$ $ I-NP +104 CD I-NP +million CD I-NP +, , I-NP +bid NN I-NP +from IN B-PP +AB NNP B-NP +SKF NNP I-NP +of IN B-PP +Sweden NNP B-NP +, , O +until IN B-SBAR +McGill NNP B-NP +directors NNS I-NP +have VBP B-VP +completed VBN I-VP +their PRP$ B-NP +evaluation NN I-NP +. . O + +In IN B-PP +a DT O +Securities NNP B-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +filing NN B-NP +, , O +BroadBeach NNP B-NP +said VBD B-VP +it PRP B-NP +sold VBD B-VP +the DT B-NP +101,000 CD I-NP +McGill NNP I-NP +shares NNS I-NP +for IN B-PP +$ $ B-NP +7.3 CD I-NP +million CD I-NP +in IN B-PP +a DT B-NP +private JJ I-NP +transaction NN I-NP +on IN B-PP +Oct. NNP B-NP +12 CD I-NP +. . O + +BroadBeach NNP B-NP +did VBD B-VP +n't RB I-VP +identify VB I-VP +the DT B-NP +buyer NN I-NP +of IN B-PP +the DT B-NP +shares NNS I-NP +, , O +but CC O +the DT B-NP +date NN I-NP +of IN B-PP +the DT B-NP +selloff NN I-NP +followed VBN B-VP +by IN B-PP +one CD B-NP +day NN I-NP +the DT B-NP +Swedish JJ I-NP +concern NN I-NP +'s POS B-NP +tender NN I-NP +offer NN I-NP +, , O +and CC O +the DT B-NP +indicated VBN I-NP +price NN I-NP +of IN B-PP +the DT B-NP +shares NNS I-NP +sold VBN B-VP +equals VBZ B-VP +SKF NNP B-NP +'s POS B-NP +$ $ B-ADJP +72-a-share JJ I-ADJP +tender NN B-NP +offer NN I-NP +price NN I-NP +. . O + +A DT B-NP +BroadBeach NNP I-NP +spokeswoman NN I-NP +said VBD B-VP +the DT B-NP +company NN I-NP +sold VBD B-VP +the DT B-NP +stock NN I-NP +in IN B-PP +the DT B-NP +open JJ I-NP +market NN I-NP +and CC O +thus RB B-ADVP +could MD B-VP +n't RB I-VP +identify VB I-VP +the DT B-NP +buyer NN I-NP +or CC I-NP +buyers NNS I-NP +. . O + +Luis NNP B-NP +Nogales NNP I-NP +, , O +45 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +has VBZ B-VP +been VBN I-VP +elected VBN I-VP +to TO B-PP +the DT B-NP +board NN I-NP +of IN B-PP +this DT B-NP +brewer NN I-NP +. . O + +Mr. NNP B-NP +Nogales NNP I-NP +, , O +former JJ B-NP +president NN I-NP +of IN B-PP +United NNP B-NP +Press NNP I-NP +International NNP I-NP +and CC O +the DT B-NP +Univision NNP I-NP +Spanish-language JJ I-NP +network NN I-NP +, , O +most RBS B-ADVP +recently RB I-ADVP +co-founded VBD B-VP +Nogales NNP B-NP +Castro NNP I-NP +Partners NNPS I-NP +, , O +a DT B-NP +California-based JJ I-NP +media NNS I-NP +acquisition NN I-NP +firm NN I-NP +. . O + +Mr. NNP B-NP +Nogales NNP I-NP +, , O +the DT B-NP +first JJ I-NP +Hispanic JJ I-NP +person NN I-NP +to TO B-VP +serve VB I-VP +as IN B-PP +a DT B-NP +Coors NNP I-NP +director NN I-NP +, , O +is VBZ B-VP +an DT B-NP +addition NN I-NP +to TO B-PP +the DT B-NP +board NN I-NP +, , O +increasing VBG B-VP +its PRP$ B-NP +membership NN I-NP +to TO B-PP +nine CD B-NP +. . O + +Hachette NNP B-NP +S.A. NNP I-NP +, , O +a DT B-NP +European JJ I-NP +media NNS I-NP +and CC I-NP +publishing NN I-NP +group NN I-NP +, , O +reported VBD B-VP +a DT B-NP +small JJ I-NP +rise NN I-NP +in IN B-PP +its PRP$ B-NP +attributable JJ I-NP +first-half JJ I-NP +group NN I-NP +profit NN I-NP +, , O +excluding VBG B-PP +exceptional JJ B-NP +items NNS I-NP +, , O +to TO B-PP +133.8 CD B-NP +million CD I-NP +francs NNS I-NP +-LRB- ( O +$ $ B-NP +21.1 CD I-NP +million CD I-NP +-RRB- ) O +from IN B-PP +130.1 CD B-NP +million CD I-NP +francs NNS I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +The DT B-NP +Paris-based JJ I-NP +group NN I-NP +said VBD B-VP +its PRP$ B-NP +earlier JJR I-NP +projection NN I-NP +-- : O +that DT B-SBAR +group NN B-NP +profit NN I-NP +for IN B-PP +all DT B-NP +of IN B-PP +1989 CD B-NP +would MD B-VP +be VB I-VP +close RB B-ADJP +to TO B-PP +the DT B-NP +322.7 CD I-NP +million CD I-NP +francs NNS I-NP +posted VBD B-VP +for IN B-PP +1988 CD B-NP +-- : O +remains VBZ B-VP +valid JJ B-ADJP +. . O + +Taking VBG B-VP +into IN B-PP +account NN B-NP +nonrecurring VBG B-NP +gains NNS I-NP +and CC I-NP +losses NNS I-NP +, , O +Hachette NNP B-NP +'s POS B-NP +group NN I-NP +net JJ I-NP +income NN I-NP +for IN B-PP +the DT B-NP +first JJ I-NP +six CD I-NP +months NNS I-NP +of IN B-PP +this DT B-NP +year NN I-NP +totaled VBD B-VP +246.6 CD B-NP +million CD I-NP +francs NNS I-NP +, , O +practically RB B-ADVP +double VB I-ADVP +the DT B-NP +year-earlier JJ I-NP +figure NN I-NP +of IN B-PP +124.5 CD B-NP +million CD I-NP +francs NNS I-NP +. . O + +Analysts NNS B-NP +said VBD B-VP +Hachette NNP B-NP +'s POS B-NP +earnings NNS I-NP +in IN B-PP +the DT B-NP +second JJ I-NP +half NN I-NP +might MD B-VP +be VB I-VP +boosted VBN I-VP +by IN B-PP +a DT B-NP +capital NN I-NP +gain NN I-NP +from IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +the DT B-NP +Paris NNP I-NP +headquarters NN I-NP +of IN B-PP +a DT B-NP +newspaper-delivery NN I-NP +company NN I-NP +that WDT B-NP +is VBZ O +49 CD B-NP +% NN I-NP +owned VBN B-VP +by IN B-PP +Hachette NNP B-NP +. . O + +Oncor NNP B-NP +Inc. NNP I-NP +, , O +Gaithersburg NNP B-NP +, , O +Md. NNP B-NP +, , O +said VBD B-VP +it PRP B-NP +received VBD B-VP +approval NN B-NP +from IN B-PP +the DT B-NP +U.S. NNP I-NP +Food NNP I-NP +and CC I-NP +Drug NNP I-NP +Administration NNP I-NP +to TO B-VP +market VB I-VP +a DT B-NP +genetic JJ I-NP +test NN I-NP +that WDT B-NP +will MD B-VP +assist VB I-VP +in IN B-PP +diagnosis NN B-NP +and CC I-NP +treatment NN I-NP +of IN B-PP +leukemia NN B-NP +and CC O +lymph NN B-NP +cancer NN I-NP +. . O + +The DT B-NP +B\/T NNP I-NP +gene NN I-NP +rearrangement NN I-NP +test NN I-NP +is VBZ B-VP +more RBR B-ADJP +accurate JJ I-ADJP +than IN B-PP +existing VBG B-NP +tests NNS I-NP +for IN B-PP +diagnosing VBG B-VP +the DT B-NP +type NN I-NP +of IN B-PP +cancer NN B-NP +, , O +whether IN B-SBAR +it PRP B-NP +has VBZ B-VP +spread NN I-VP +or CC O +whether IN B-SBAR +there EX B-NP +is VBZ B-VP +a DT B-NP +recurrence NN I-NP +following VBG B-VP +treatment NN B-NP +, , O +said VBD B-VP +Oncor NNP B-NP +President NNP I-NP +Stephen NNP I-NP +Turner NNP I-NP +. . O + +Mr. NNP B-NP +Turner NNP I-NP +said VBD B-VP +the DT B-NP +test NN I-NP +initially RB B-VP +will MD I-VP +be VB I-VP +used VBN I-VP +in IN B-PP +conjunction NN B-NP +with IN B-PP +biopsies NNS B-NP +and CC O +other JJ B-NP +tests NNS I-NP +, , O +but CC O +eventually RB B-VP +might MD I-VP +become VB I-VP +the DT B-NP +benchmark NN I-NP +for IN B-PP +tumor NN B-NP +analysis NN I-NP +. . O + +Mr. NNP B-NP +Turner NNP I-NP +said VBD B-VP +the DT B-NP +test NN I-NP +will MD B-VP +be VB I-VP +shipped VBN I-VP +in IN B-PP +45 CD B-NP +days NNS I-NP +to TO B-PP +hospitals NNS B-NP +and CC O +clinical JJ B-NP +laboratories NNS I-NP +. . O + +Dr. NNP B-NP +Wyndham NNP I-NP +Wilson NNP I-NP +, , O +a DT B-NP +cancer NN I-NP +treatment NN I-NP +specialist NN I-NP +at IN B-PP +the DT B-NP +National NNP I-NP +Cancer NNP I-NP +Institute NNP I-NP +, , O +said VBD B-VP +the DT B-NP +test NN I-NP +is VBZ B-VP +widely RB I-VP +used VBN I-VP +in IN B-PP +research NN B-NP +centers NNS I-NP +but CC O +is VBZ B-VP +n't RB I-VP +having VBG I-VP +a DT B-NP +major JJ I-NP +impact NN I-NP +because IN B-SBAR +it PRP B-NP +is VBZ B-VP +only RB B-ADJP +occasionally RB I-ADJP +useful JJ I-ADJP +in IN B-PP +choosing VBG B-VP +the DT B-NP +most RBS I-NP +effective JJ I-NP +treatment NN I-NP +. . O + +But CC O +the DT B-NP +test NN I-NP +may MD B-VP +prove VB I-VP +to TO I-VP +be VB I-VP +more RBR B-ADJP +sensitive JJ I-ADJP +in IN B-PP +determining VBG B-VP +whether IN B-SBAR +a DT B-NP +tumor NN I-NP +has VBZ B-VP +spread NN I-VP +or CC I-VP +returned VBN I-VP +following VBG B-PP +treatment NN B-NP +, , O +Dr. NNP B-NP +Wilson NNP I-NP +said VBD B-VP +. . O + +`` `` O +We PRP B-NP +do VBP B-VP +n't RB I-VP +know VB I-VP +yet RB B-ADVP +how WRB B-ADVP +useful JJ B-ADJP +it PRP B-NP +'s VBZ B-VP +going VBG I-VP +to TO I-VP +be VB I-VP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +Oncor NNP B-NP +, , O +a DT B-NP +six-year-old JJ I-NP +developer NN I-NP +of IN B-PP +genetic JJ B-NP +medical JJ I-NP +tests NNS I-NP +, , O +projects VBZ B-VP +that IN B-SBAR +the DT B-NP +cancer NN I-NP +test NN I-NP +will MD B-VP +help VB I-VP +it PRP B-NP +to TO B-VP +post VB I-VP +its PRP$ B-NP +first-ever JJ I-NP +profit NN I-NP +during IN B-PP +the DT B-NP +first JJ I-NP +quarter NN I-NP +of IN B-PP +1990 CD B-NP +, , O +Mr. NNP B-NP +Turner NNP I-NP +said VBD B-VP +. . O + +The DT B-NP +company NN I-NP +will MD B-VP +charge VB I-VP +$ $ B-NP +35 CD I-NP +for IN B-PP +a DT B-NP +test NN I-NP +and CC O +projects NNS B-VP +about RB B-NP +$ $ I-NP +2 CD I-NP +million CD I-NP +in IN B-PP +revenue NN B-NP +from IN B-PP +the DT B-NP +test NN I-NP +during IN B-PP +the DT B-NP +first JJ I-NP +12 CD I-NP +months NNS I-NP +of IN B-PP +marketing NN B-NP +, , O +he PRP B-NP +said VBD B-VP +. . O + +Unilab NNP B-NP +Corp. NNP I-NP +, , O +Norcross NNP B-NP +, , O +Ga. NNP B-NP +, , O +said VBD B-VP +it PRP B-NP +acquired VBD B-VP +the DT B-NP +clinical JJ I-NP +laboratories NNS I-NP +of IN B-PP +closely RB B-NP +held VBN I-NP +Central NNP I-NP +Diagnostic NNP I-NP +Laboratory NNP I-NP +Inc. NNP I-NP +in IN B-PP +a DT B-NP +cash NN I-NP +and CC I-NP +securities NNS I-NP +transaction NN I-NP +valued VBN B-VP +at IN B-PP +$ $ B-NP +85 CD I-NP +million CD I-NP +. . O + +Unilab NNP B-NP +said VBD B-VP +its PRP$ B-NP +wholly RB I-NP +owned VBN I-NP +MetWest NNP I-NP +Inc. NNP I-NP +unit NN I-NP +paid VBN B-VP +$ $ B-NP +25 CD I-NP +million CD I-NP +in IN B-PP +cash NN B-NP +, , O +provided VBD B-VP +$ $ B-NP +30 CD I-NP +million CD I-NP +in IN B-PP +notes NNS B-NP +and CC O +$ $ B-NP +30 CD I-NP +million CD I-NP +in IN B-PP +preferred JJ B-NP +stock NN I-NP +to TO B-VP +acquire VB I-VP +Central NNP B-NP +'s POS B-NP +labs NNS I-NP +in IN B-PP +the DT B-NP +Western NNP I-NP +U.S. NNP I-NP +. . O + +Unilab NNP B-NP +, , O +which WDT B-NP +provides VBZ B-VP +clinical JJ B-NP +laboratory NN I-NP +services NNS I-NP +, , O +competed VBD B-VP +with IN B-PP +Central NNP B-NP +, , O +based VBN B-VP +in IN B-PP +Tarzana NNP B-NP +, , O +Calif. NNP B-NP +, , O +in IN B-PP +a DT B-NP +number NN I-NP +of IN B-PP +areas NNS B-NP +. . O + +Beyond IN B-PP +removing VBG B-VP +a DT B-NP +competitor NN I-NP +, , O +the DT B-NP +combination NN I-NP +should MD B-VP +provide VB I-VP +`` `` O +synergies NNS B-NP +, , O +'' '' O +said VBD B-VP +Fred NNP B-NP +Harlow NNP I-NP +, , O +Unilab NNP B-NP +'s POS B-NP +chief JJ I-NP +financial JJ I-NP +officer NN I-NP +. . O + +It PRP B-NP +also RB B-ADVP +will MD B-VP +hand VB I-VP +Unilab NNP B-NP +new JJ B-NP +markets NNS I-NP +. . O + +In IN B-PP +Los NNP B-NP +Angeles NNP I-NP +, , O +for IN B-PP +example NN B-NP +, , O +Central NNP B-NP +has VBZ B-VP +had VBN I-VP +a DT B-NP +strong JJ I-NP +market NN I-NP +position NN I-NP +while IN B-SBAR +Unilab NNP B-NP +'s POS B-NP +presence NN I-NP +has VBZ B-VP +been VBN I-VP +less RBR B-ADJP +prominent JJ I-ADJP +, , O +according VBG B-PP +to TO B-PP +Mr. NNP B-NP +Harlow NNP I-NP +. . O + diff --git a/BotSharp.WebHost/App_Data/Corpus/CoNLL/conll2000_chunking_train.txt b/BotSharp.WebHost/App_Data/Corpus/CoNLL/conll2000_chunking_train.txt new file mode 100644 index 00000000..d0befb23 --- /dev/null +++ b/BotSharp.WebHost/App_Data/Corpus/CoNLL/conll2000_chunking_train.txt @@ -0,0 +1,220663 @@ +Confidence NN B-NP +in IN B-PP +the DT B-NP +pound NN I-NP +is VBZ B-VP +widely RB I-VP +expected VBN I-VP +to TO I-VP +take VB I-VP +another DT B-NP +sharp JJ I-NP +dive NN I-NP +if IN B-SBAR +trade NN B-NP +figures NNS I-NP +for IN B-PP +September NNP B-NP +, , O +due JJ B-ADJP +for IN B-PP +release NN B-NP +tomorrow NN B-NP +, , O +fail VB B-VP +to TO I-VP +show VB I-VP +a DT B-NP +substantial JJ I-NP +improvement NN I-NP +from IN B-PP +July NNP B-NP +and CC I-NP +August NNP I-NP +'s POS B-NP +near-record JJ I-NP +deficits NNS I-NP +. . O + +Chancellor NNP O +of IN B-PP +the DT B-NP +Exchequer NNP I-NP +Nigel NNP B-NP +Lawson NNP I-NP +'s POS B-NP +restated VBN I-NP +commitment NN I-NP +to TO B-PP +a DT B-NP +firm NN I-NP +monetary JJ I-NP +policy NN I-NP +has VBZ B-VP +helped VBN I-VP +to TO I-VP +prevent VB I-VP +a DT B-NP +freefall NN I-NP +in IN B-PP +sterling NN B-NP +over IN B-PP +the DT B-NP +past JJ I-NP +week NN I-NP +. . O + +But CC O +analysts NNS B-NP +reckon VBP B-VP +underlying VBG B-NP +support NN I-NP +for IN B-PP +sterling NN B-NP +has VBZ B-VP +been VBN I-VP +eroded VBN I-VP +by IN B-PP +the DT B-NP +chancellor NN I-NP +'s POS B-NP +failure NN I-NP +to TO B-VP +announce VB I-VP +any DT B-NP +new JJ I-NP +policy NN I-NP +measures NNS I-NP +in IN B-PP +his PRP$ B-NP +Mansion NNP I-NP +House NNP I-NP +speech NN I-NP +last JJ B-NP +Thursday NNP I-NP +. . O + +This DT B-NP +has VBZ B-VP +increased VBN I-VP +the DT B-NP +risk NN I-NP +of IN B-PP +the DT B-NP +government NN I-NP +being VBG B-VP +forced VBN I-VP +to TO I-VP +increase VB I-VP +base NN B-NP +rates NNS I-NP +to TO B-PP +16 CD B-NP +% NN I-NP +from IN B-PP +their PRP$ B-NP +current JJ I-NP +15 CD I-NP +% NN I-NP +level NN I-NP +to TO B-VP +defend VB I-VP +the DT B-NP +pound NN I-NP +, , O +economists NNS B-NP +and CC O +foreign JJ B-NP +exchange NN I-NP +market NN I-NP +analysts NNS I-NP +say VBP B-VP +. . O + +`` `` O +The DT B-NP +risks NNS I-NP +for IN B-PP +sterling NN B-NP +of IN B-PP +a DT B-NP +bad JJ I-NP +trade NN I-NP +figure NN I-NP +are VBP B-VP +very RB B-ADVP +heavily RB I-ADVP +on IN B-PP +the DT B-NP +down JJ I-NP +side NN I-NP +, , O +'' '' O +said VBD B-VP +Chris NNP B-NP +Dillow NNP I-NP +, , O +senior JJ B-NP +U.K. NNP I-NP +economist NN I-NP +at IN B-PP +Nomura NNP B-NP +Research NNP I-NP +Institute NNP I-NP +. . O + +`` `` O +If IN B-SBAR +there EX B-NP +is VBZ B-VP +another DT B-NP +bad JJ I-NP +trade NN I-NP +number NN I-NP +, , O +there EX B-NP +could MD B-VP +be VB I-VP +an DT B-NP +awful JJ I-NP +lot NN I-NP +of IN B-PP +pressure NN B-NP +, , O +'' '' O +noted VBD B-VP +Simon NNP B-NP +Briscoe NNP I-NP +, , O +U.K. NNP B-NP +economist NN I-NP +for IN B-PP +Midland NNP B-NP +Montagu NNP I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +Midland NNP B-NP +Bank NNP I-NP +PLC NNP I-NP +. . O + +Forecasts NNS B-NP +for IN B-PP +the DT B-NP +trade NN I-NP +figures NNS I-NP +range VBP B-VP +widely RB B-ADVP +, , O +but CC O +few JJ B-NP +economists NNS I-NP +expect VBP B-VP +the DT B-NP +data NNS I-NP +to TO B-VP +show VB I-VP +a DT B-NP +very RB I-NP +marked VBN I-NP +improvement NN I-NP +from IN B-PP +the DT O +# # O +2 CD O +billion CD O +-LRB- ( O +$ $ B-ADJP +3.2 CD O +billion CD O +-RRB- ) O +deficit NN B-NP +in IN B-PP +the DT B-NP +current JJ I-NP +account NN I-NP +reported VBD B-VP +for IN B-PP +August NNP B-NP +. . O + +The DT B-NP +August NNP I-NP +deficit NN I-NP +and CC O +the DT B-NP +# # I-NP +2.2 CD I-NP +billion CD I-NP +gap NN I-NP +registered VBN B-VP +in IN B-PP +July NNP B-NP +are VBP B-VP +topped VBN I-VP +only RB B-ADVP +by IN B-PP +the DT B-NP +# # I-NP +2.3 CD I-NP +billion CD I-NP +deficit NN I-NP +of IN B-PP +October NNP B-NP +1988 CD I-NP +. . O + +Sanjay NNP B-NP +Joshi NNP I-NP +, , O +European JJ B-NP +economist NN I-NP +at IN B-PP +Baring NNP B-NP +Brothers NNPS I-NP +& CC I-NP +Co. NNP I-NP +, , O +said VBD B-VP +there EX B-NP +is VBZ B-VP +no DT B-NP +sign NN I-NP +that IN B-SBAR +Britain NNP B-NP +'s POS B-NP +manufacturing NN I-NP +industry NN I-NP +is VBZ B-VP +transforming VBG I-VP +itself PRP B-NP +to TO B-VP +boost VB I-VP +exports NNS B-NP +. . O + +At IN B-PP +the DT B-NP +same JJ I-NP +time NN I-NP +, , O +he PRP B-NP +remains VBZ B-VP +fairly RB B-ADJP +pessimistic JJ I-ADJP +about IN B-PP +the DT B-NP +outlook NN I-NP +for IN B-PP +imports NNS B-NP +, , O +given VBN B-PP +continued VBD B-NP +high JJ I-NP +consumer NN I-NP +and CC I-NP +capital NN I-NP +goods NNS I-NP +inflows NNS I-NP +. . O + +He PRP B-NP +reckons VBZ B-VP +the DT B-NP +current JJ I-NP +account NN I-NP +deficit NN I-NP +will MD B-VP +narrow VB I-VP +to TO B-PP +only RB B-NP +# # I-NP +1.8 CD I-NP +billion CD I-NP +in IN B-PP +September NNP B-NP +. . O + +However RB B-ADVP +, , O +Mr. NNP B-NP +Dillow NNP I-NP +said VBD B-VP +he PRP B-NP +believes VBZ B-VP +that IN B-SBAR +a DT B-NP +reduction NN I-NP +in IN B-PP +raw JJ B-NP +material NN I-NP +stockbuilding VBG I-NP +by IN B-PP +industry NN B-NP +could MD B-VP +lead VB I-VP +to TO B-PP +a DT B-NP +sharp JJ I-NP +drop NN I-NP +in IN B-PP +imports NNS B-NP +. . O + +Combined VBN B-PP +with IN B-PP +at IN B-ADVP +least JJS I-ADVP +some DT B-NP +rebound NN I-NP +in IN B-PP +exports NNS B-NP +after IN B-PP +August NNP B-NP +'s POS B-NP +unexpected JJ I-NP +decline NN I-NP +, , O +the DT B-NP +deficit NN I-NP +could MD B-VP +narrow VB I-VP +to TO B-PP +as RB B-NP +little JJ I-NP +as IN I-NP +# # I-NP +1.3 CD I-NP +billion CD I-NP +. . O + +Mr. NNP B-NP +Briscoe NNP I-NP +, , O +who WP B-NP +also RB B-ADVP +forecasts VBZ B-VP +a DT B-NP +# # I-NP +1.3 CD I-NP +billion CD I-NP +current JJ I-NP +account NN I-NP +gap NN I-NP +, , O +warns VBZ B-VP +that IN B-SBAR +even RB B-SBAR +if IN I-SBAR +the DT B-NP +trade NN I-NP +figures NNS I-NP +are VBP B-VP +bullish JJ B-ADJP +for IN B-PP +sterling NN B-NP +, , O +the DT B-NP +currency NN I-NP +wo MD B-VP +n't RB I-VP +advance VB I-VP +much JJ B-NP +because IN B-SBAR +investors NNS B-NP +will MD B-VP +want VB I-VP +to TO I-VP +see VB I-VP +further JJ B-NP +evidence NN I-NP +of IN B-PP +the DT B-NP +turnaround NN I-NP +before IN B-PP +adjusting VBG B-VP +positions NNS B-NP +. . O + +Nevertheless RB B-ADVP +, , O +he PRP B-NP +noted VBD B-VP +, , O +`` `` O +No DT B-NP +one PRP I-NP +will MD B-VP +want VB I-VP +to TO I-VP +go VB I-VP +into IN B-PP +the DT B-NP +trade NN I-NP +figures NNS I-NP +without IN B-PP +a DT B-NP +flat JJ I-NP +position NN I-NP +'' '' O +in IN B-PP +the DT B-NP +pound NN I-NP +. . O + +Meanwhile RB B-ADVP +, , O +overall JJ B-NP +evidence NN I-NP +on IN B-PP +the DT B-NP +economy NN I-NP +remains VBZ B-VP +fairly RB B-ADJP +clouded VBN I-ADJP +. . O + +In IN B-PP +his PRP$ B-NP +Mansion NNP I-NP +House NNP I-NP +speech NN I-NP +, , O +Mr. NNP B-NP +Lawson NNP I-NP +warned VBD B-VP +that IN B-SBAR +a DT B-NP +further JJ I-NP +slowdown NN I-NP +can MD B-VP +be VB I-VP +expected VBN I-VP +as IN B-SBAR +the DT B-NP +impact NN I-NP +of IN B-PP +the DT B-NP +last JJ I-NP +rise NN I-NP +in IN B-PP +interest NN B-NP +rates NNS I-NP +earlier RBR B-NP +this DT I-NP +month NN I-NP +takes VBZ B-VP +effect NN B-NP +. . O + +U.K. JJ B-NP +base NN I-NP +rates NNS I-NP +are VBP B-VP +at IN B-PP +their PRP$ B-NP +highest JJS I-NP +level NN I-NP +in IN B-PP +eight CD B-NP +years NNS I-NP +. . O + +But CC O +consumer NN B-NP +expenditure NN I-NP +data NNS I-NP +released VBD B-VP +Friday NNP B-NP +do VBP B-VP +n't RB I-VP +suggest VB I-VP +that IN B-SBAR +the DT B-NP +U.K. NNP I-NP +economy NN I-NP +is VBZ B-VP +slowing VBG I-VP +that DT B-ADVP +quickly RB I-ADVP +. . O + +The DT B-NP +figures NNS I-NP +show VBP B-VP +that DT O +spending NN B-NP +rose VBD B-VP +0.1 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +from IN B-PP +the DT B-NP +second JJ I-NP +quarter NN I-NP +and CC O +was VBD B-VP +up IN B-ADVP +3.8 CD B-NP +% NN I-NP +from IN B-PP +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +This DT B-NP +compares VBZ B-VP +with IN B-PP +a DT B-NP +1.6 CD I-NP +% NN I-NP +rise NN I-NP +in IN B-PP +the DT B-NP +second NN I-NP +from IN B-PP +the DT B-NP +first JJ I-NP +quarter NN I-NP +and CC O +a DT B-NP +5.4 CD I-NP +% NN I-NP +increase NN I-NP +from IN B-PP +the DT B-NP +second JJ I-NP +quarter NN I-NP +of IN B-PP +1988 CD B-NP +. . O + +Mr. NNP B-NP +Dillow NNP I-NP +said VBD B-VP +the DT B-NP +data NNS I-NP +show VBP B-VP +the DT B-NP +economy NN I-NP +`` `` O +is VBZ B-VP +still RB B-ADVP +quite RB B-ADJP +strong JJ I-ADJP +, , O +'' '' O +but CC O +suggestions NNS B-NP +that IN B-SBAR +much NN B-NP +of IN B-PP +the DT B-NP +spending NN I-NP +went VBD B-VP +on IN B-PP +services NNS B-NP +rather RB B-PP +than IN I-PP +consumer NN B-NP +goods NNS I-NP +should MD B-VP +reduce VB I-VP +fears NNS B-NP +of IN B-PP +more JJR B-NP +import NN I-NP +rises NNS I-NP +. . O + +Certainly RB B-ADVP +, , O +the DT B-NP +chancellor NN I-NP +has VBZ B-VP +made VBN I-VP +it PRP B-NP +clear JJ B-ADJP +that IN B-SBAR +he PRP B-NP +is VBZ B-VP +prepared VBN I-VP +to TO I-VP +increase VB I-VP +interest NN B-NP +rates NNS I-NP +again RB B-ADVP +if IN B-SBAR +necessary JJ B-ADJP +to TO B-VP +both DT I-VP +ensure VB I-VP +that IN B-SBAR +a DT B-NP +substantial JJ I-NP +slowdown NN I-NP +does VBZ B-VP +take VB I-VP +place NN B-NP +and CC O +that DT O +sterling NN B-NP +does VBZ B-VP +n't RB I-VP +decline VB I-VP +further JJ B-ADVP +. . O + +Thursday NNP B-NP +, , O +he PRP B-NP +reminded VBD B-VP +his PRP$ B-NP +audience NN I-NP +that IN B-SBAR +the DT B-NP +government NN I-NP +`` `` O +can MD B-VP +not RB I-VP +allow VB I-VP +the DT B-NP +necessary JJ I-NP +rigor NN I-NP +of IN B-PP +monetary JJ B-NP +policy NN I-NP +to TO B-VP +be VB I-VP +undermined VBN I-VP +by IN B-PP +exchange NN B-NP +rate NN I-NP +weakness NN I-NP +. . O +'' '' O + +Analysts NNS B-NP +agree VBP B-VP +there EX B-NP +is VBZ B-VP +little JJ B-NP +holding NN B-VP +sterling NN B-NP +firm NN B-ADJP +at IN B-PP +the DT B-NP +moment NN I-NP +other JJ B-ADJP +than IN B-PP +Mr. NNP B-NP +Lawson NNP I-NP +'s POS B-NP +promise NN I-NP +that IN B-SBAR +rates NNS B-NP +will MD B-VP +be VB I-VP +pushed VBN I-VP +higher JJR B-ADJP +if IN B-SBAR +necessary JJ B-ADJP +. . O + +And CC O +, , O +they PRP B-NP +warn VBP B-VP +, , O +any DT B-NP +further JJ I-NP +drop NN I-NP +in IN B-PP +the DT B-NP +government NN I-NP +'s POS B-NP +popularity NN I-NP +could MD B-VP +swiftly RB I-VP +make VB I-VP +this DT B-NP +promise NN I-NP +sound NN B-VP +hollow JJ B-ADJP +. . O + +Sterling NNP B-NP +was VBD B-VP +already RB I-VP +showing VBG I-VP +some DT B-NP +signs NNS I-NP +of IN B-PP +a DT B-NP +lack NN I-NP +of IN B-PP +confidence NN B-NP +in IN B-PP +Mr. NNP B-NP +Lawson NNP I-NP +'s POS B-NP +promise NN I-NP +Friday NNP B-NP +. . O + +In IN B-PP +European JJ B-NP +trading NN I-NP +it PRP B-NP +declined VBD B-VP +to TO B-PP +$ $ B-NP +1.5890 CD I-NP +and CC O +2.9495 CD B-NP +marks NNS I-NP +from IN B-PP +$ $ B-NP +1.5940 CD I-NP +and CC O +2.9429 CD B-NP +marks NNS I-NP +late JJ B-NP +Thursday NNP I-NP +. . O + +Economists NNS B-NP +suggested VBD B-VP +that IN B-SBAR +if IN B-SBAR +the DT B-NP +pound NN I-NP +falls VBZ B-VP +much JJ B-NP +below IN B-PP +2.90 CD B-NP +marks NNS I-NP +, , O +the DT B-NP +government NN I-NP +will MD B-VP +be VB I-VP +forced VBN I-VP +to TO I-VP +increase VB I-VP +rates NNS B-NP +to TO B-PP +16 CD B-NP +% NN I-NP +, , O +both DT B-VP +to TO I-VP +halt VB B-VP +any DT B-NP +further JJ I-NP +decline NN I-NP +and CC O +ensure VB B-VP +that IN B-SBAR +the DT B-NP +balance NN I-NP +of IN B-PP +monetary JJ B-NP +policy NN I-NP +remains VBZ B-VP +unchanged JJ B-ADJP +. . O + +Friday NNP B-NP +'s POS B-NP +Market NNP I-NP +Activity NN I-NP + +The DT B-NP +dollar NN I-NP +posted VBD B-VP +gains NNS B-NP +in IN B-PP +quiet JJ B-NP +trading NN I-NP +as IN B-SBAR +concerns NNS B-NP +about IN B-PP +equities NNS B-NP +abated VBN B-VP +. . O + +Foreign JJ B-NP +exchange NN I-NP +dealers NNS I-NP +said VBD B-VP +that IN B-SBAR +the DT B-NP +currency NN I-NP +market NN I-NP +has VBZ B-VP +begun VBN I-VP +to TO I-VP +distance VB I-VP +itself PRP B-NP +from IN B-PP +the DT B-NP +volatile JJ I-NP +stock NN I-NP +exchange NN I-NP +, , O +which WDT B-NP +has VBZ B-VP +preoccupied VBN I-VP +the DT B-NP +market NN I-NP +since IN B-PP +Oct. NNP B-NP +13 CD I-NP +, , O +when WRB B-ADVP +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +plunged VBD B-VP +more JJR B-NP +than IN I-NP +190 CD I-NP +points NNS I-NP +. . O + +Currency NN B-NP +analysts NNS I-NP +predict VBP B-VP +that IN B-SBAR +in IN B-PP +the DT B-NP +coming VBG I-NP +week NN I-NP +the DT B-NP +foreign JJ I-NP +exchange NN I-NP +market NN I-NP +will MD B-VP +shift VB I-VP +its PRP$ B-NP +focus NN I-NP +back RB B-ADVP +to TO B-PP +economic JJ B-NP +fundamentals NNS I-NP +, , O +keeping VBG B-VP +a DT B-NP +close NN I-NP +eye NN I-NP +out IN B-ADVP +for IN B-PP +any DT B-NP +signs NNS I-NP +of IN B-PP +monetary JJ B-NP +easing NN I-NP +by IN B-PP +U.S. NNP B-NP +Federal NNP I-NP +Reserve NNP I-NP +. . O + +Late RB B-ADVP +in IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +trading NN I-NP +day NN I-NP +, , O +the DT B-NP +dollar NN I-NP +was VBD B-VP +quoted VBN I-VP +at IN B-PP +1.8578 CD B-NP +marks NNS I-NP +, , O +up IN B-ADVP +from IN B-PP +1.8470 CD B-NP +marks NNS I-NP +late JJ B-NP +Thursday NNP I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +. . O + +The DT B-NP +U.S. NNP I-NP +currency NN I-NP +was VBD B-VP +also RB I-VP +changing VBG I-VP +hands NNS B-NP +at IN B-PP +142.43 CD B-NP +yen NN I-NP +, , O +up IN B-ADVP +from IN B-PP +141.70 CD B-NP +yen NN I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +late JJ B-NP +Thursday NNP I-NP +. . O + +In IN B-PP +Tokyo NNP B-NP +on IN B-PP +Monday NNP B-NP +, , O +the DT B-NP +U.S. NNP I-NP +currency NN I-NP +opened VBD B-VP +for IN B-PP +trading NN B-NP +at IN B-PP +141.95 CD B-NP +yen NN I-NP +, , O +up IN B-ADVP +from IN B-PP +Friday NNP B-NP +'s POS B-NP +Tokyo NNP I-NP +close NN I-NP +of IN B-PP +141.35 CD B-NP +yen NN I-NP +. . O + +On IN B-PP +the DT B-NP +Commodity NNP I-NP +Exchange NNP I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +, , O +gold NN B-NP +for IN B-PP +current JJ B-NP +delivery NN I-NP +settled VBD B-VP +at IN B-PP +$ $ B-NP +367.30 CD I-NP +an DT B-NP +ounce NN I-NP +, , O +up IN B-ADVP +20 CD B-NP +cents NNS I-NP +. . O + +Estimated VBN B-NP +volume NN I-NP +was VBD B-VP +a DT B-NP +light NN I-NP +2.4 CD I-NP +million CD I-NP +ounces NNS I-NP +. . O + +In IN B-PP +early JJ B-NP +trading NN I-NP +in IN B-PP +Hong NNP B-NP +Kong NNP I-NP +Monday NNP B-NP +, , O +gold NN B-NP +was VBD B-VP +quoted VBN I-VP +at IN B-PP +$ $ B-NP +366.50 CD I-NP +an DT B-NP +ounce NN I-NP +. . O + +East NNP B-NP +Rock NNP I-NP +Partners NNP I-NP +Limited NNP I-NP +Partnership NNP I-NP +said VBD B-VP +it PRP B-NP +proposed VBD B-VP +to TO I-VP +acquire VB I-VP +A.P. NNP B-NP +Green NNP I-NP +Industries NNP I-NP +Inc. NNP I-NP +for IN B-PP +$ $ B-NP +40 CD I-NP +a DT B-NP +share NN I-NP +. . O + +In IN B-PP +an DT B-NP +Oct. NNP I-NP +19 CD I-NP +letter NN I-NP +to TO B-PP +A.P. NNP B-NP +Green NNP I-NP +'s POS B-NP +board NN I-NP +, , O +East NNP B-NP +Rock NNP I-NP +said VBD B-VP +the DT B-NP +offer NN I-NP +is VBZ B-VP +subject NN B-ADJP +to TO B-PP +the DT B-NP +signing NN I-NP +of IN B-PP +a DT B-NP +merger NN I-NP +agreement NN I-NP +by IN B-PP +no DT B-ADVP +later RB I-ADVP +than IN B-PP +Oct. NNP B-NP +31 CD I-NP +. . O + +The DT B-NP +letter NN I-NP +, , O +attached VBN B-VP +to TO B-PP +a DT B-NP +filing NN I-NP +with IN B-PP +the DT B-NP +Securities NNP I-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +, , O +said VBD B-VP +the DT B-NP +approval NN I-NP +is VBZ B-VP +also RB B-ADVP +contingent JJ B-ADJP +upon IN B-PP +obtaining VBG B-VP +satisfactory JJ B-NP +financing NN I-NP +. . O + +An DT B-NP +A.P. NNP I-NP +Green NNP I-NP +official NN I-NP +declined VBD B-VP +to TO I-VP +comment VB I-VP +on IN B-PP +the DT B-NP +filing NN I-NP +. . O + +The DT B-NP +$ $ I-NP +40-a-share JJ I-NP +proposal NN I-NP +values VBZ B-VP +the DT B-NP +company NN I-NP +at IN B-PP +about RB B-NP +$ $ I-NP +106.6 CD I-NP +million CD I-NP +. . O + +A.P. NNP B-NP +Green NNP I-NP +currently RB B-ADVP +has VBZ B-VP +2,664,098 CD B-NP +shares NNS I-NP +outstanding JJ B-ADJP +. . O + +Its PRP$ B-NP +stock NN I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +38 CD I-NP +, , O +up IN B-ADVP +$ $ B-NP +1.875 CD I-NP +, , O +in IN B-PP +national JJ B-NP +over-the-counter JJ I-NP +trading NN I-NP +. . O + +The DT B-NP +company NN I-NP +is VBZ B-VP +a DT B-NP +Mexico NNP I-NP +, , I-NP +Mo. NNP I-NP +, , I-NP +maker NN I-NP +of IN B-PP +refractory JJ B-NP +products NNS I-NP +. . O + +East NNP B-NP +Rock NNP I-NP +also RB B-ADVP +said VBD B-VP +in IN B-PP +the DT B-NP +filing NN I-NP +that IN B-SBAR +it PRP B-NP +boosted VBD B-VP +its PRP$ B-NP +stake NN I-NP +in IN B-PP +A.P. NNP B-NP +Green NNP I-NP +to TO B-PP +8.7 CD B-NP +% NN I-NP +. . O + +It PRP B-NP +now RB B-ADVP +holds VBZ B-VP +233,000 CD B-NP +A.P. NNP I-NP +Green NNP I-NP +common JJ I-NP +shares NNS I-NP +, , O +including VBG B-PP +30,000 CD B-NP +shares NNS I-NP +bought VBD B-VP +last JJ B-NP +Thursday NNP I-NP +for IN B-PP +$ $ B-NP +35.50 CD I-NP +to TO I-NP +$ $ I-NP +36.50 CD I-NP +a DT B-NP +share NN I-NP +. . O + +New NNP B-NP +York-based JJ I-NP +John NNP I-NP +Kuhns NNP I-NP +and CC I-NP +Robert NNP I-NP +MacDonald NNP I-NP +control NN B-VP +East NNP B-NP +Rock NNP I-NP +Partners NNP I-NP +Inc. NNP I-NP +, , O +the DT B-NP +sole JJ I-NP +general JJ I-NP +partner NN I-NP +of IN B-PP +East NNP B-NP +Rock NNP I-NP +Partners NNP I-NP +L.P NNP I-NP +. . O + +The DT B-NP +sole JJ I-NP +limited JJ I-NP +partner NN I-NP +of IN B-PP +the DT B-NP +partnership NN I-NP +is VBZ B-VP +Westwood NNP B-NP +Brick NNP I-NP +Lime NNP I-NP +Inc. NNP I-NP +, , O +an DT B-NP +indirect JJ I-NP +subsidiary NN I-NP +of IN B-PP +Westwood NNP B-NP +Group NNP I-NP +Inc NNP I-NP +. . O + +Both DT B-NP +Westwood NNP B-NP +Brick NNP I-NP +and CC O +Westwood NNP B-NP +Group NNP I-NP +are VBP B-VP +based VBN I-VP +in IN B-PP +Boston NNP B-NP +. . O + +Freight NN B-NP +rates NNS I-NP +, , O +declining VBG B-VP +for IN B-PP +most RBS B-NP +of IN B-PP +the DT B-NP +decade NN I-NP +because IN B-PP +of IN I-PP +competition NN B-NP +spurred VBN B-VP +by IN B-PP +deregulation NN B-NP +, , O +are VBP B-VP +bottoming VBG I-VP +out IN B-PRT +, , O +turning VBG B-VP +upward RB B-ADVP +and CC O +threatening VBG B-VP +to TO I-VP +fuel VB I-VP +inflation NN B-NP +. . O + +Trucking NNP B-NP +, , I-NP +shipping VBG I-NP +and CC I-NP +air-freight NN I-NP +companies NNS I-NP +have VBP B-VP +announced VBN I-VP +rate NN B-NP +increases NNS I-NP +, , O +scheduled VBN B-VP +for IN B-PP +this DT B-NP +fall NN I-NP +or CC O +early JJ B-NP +next JJ I-NP +year NN I-NP +, , O +reflecting VBG B-VP +higher JJR B-NP +costs NNS I-NP +and CC O +tightened VBD B-NP +demand NN I-NP +for IN B-PP +freight NN B-NP +transport NN I-NP +. . O + +Major JJ B-NP +shippers NNS I-NP +say VBP B-VP +they PRP B-NP +expect VBP B-VP +freight NN B-NP +rates NNS I-NP +to TO B-VP +rise VB I-VP +at IN B-ADVP +least JJS I-ADVP +as RB B-ADVP +fast RB I-ADVP +as IN B-PP +inflation NN B-NP +and CC B-ADVP +maybe RB I-ADVP +faster RBR B-ADVP +in IN B-PP +the DT B-NP +next JJ I-NP +few JJ I-NP +years NNS I-NP +. . O + +That DT B-NP +'s VBZ B-VP +a DT B-NP +big JJ I-NP +change NN I-NP +from IN B-PP +recent JJ B-NP +years NNS I-NP +when WRB B-ADVP +freight NN B-NP +haulage NN I-NP +was VBD B-VP +a DT B-NP +bright JJ I-NP +spot NN I-NP +for IN B-PP +U.S. NNP B-NP +productivity NN I-NP +, , O +helping VBG B-VP +to TO I-VP +restrain VB I-VP +inflation NN B-NP +and CC O +make VB B-VP +U.S. NNP B-NP +industry NN I-NP +more RBR B-ADJP +competitive JJ I-ADJP +abroad RB B-ADVP +. . O + +`` `` O +Demand NN B-NP +has VBZ B-VP +caught VBN I-VP +up IN B-PRT +with IN B-PP +the DT B-NP +supply NN I-NP +of IN B-PP +certain JJ B-NP +types NNS I-NP +of IN B-PP +freight NN B-NP +transportation NN I-NP +, , O +and CC O +rates NNS B-NP +are VBP B-VP +starting VBG I-VP +to TO I-VP +move VB I-VP +up IN B-ADVP +'' '' O +at IN B-PP +a DT B-NP +rate NN I-NP +`` `` O +close RB B-ADJP +to TO B-PP +or CC O +slightly RB B-ADJP +more JJR I-ADJP +than IN B-PP +the DT B-NP +inflation NN I-NP +rate NN I-NP +, , O +'' '' O +said VBD B-VP +Clifford NNP B-NP +Sayre NNP I-NP +, , O +director NN B-NP +of IN B-PP +logistics NNS B-NP +at IN B-PP +Du NNP B-NP +Pont NNP I-NP +Co NNP I-NP +. . O + +Shippers NNS B-NP +surveyed VBN B-VP +recently RB B-ADVP +by IN B-PP +Ohio NNP B-NP +State NNP I-NP +University NNP I-NP +said VBD B-VP +they PRP B-NP +expect VBP B-VP +their PRP$ B-NP +freight-transport JJ I-NP +, , I-NP +storage NN I-NP +and CC I-NP +distribution NN I-NP +costs NNS I-NP +to TO B-VP +rise VB I-VP +about IN B-NP +4 CD I-NP +% NN I-NP +this DT B-NP +year NN I-NP +. . O + +Only RB B-NP +10 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +250 CD I-NP +shippers NNS I-NP +polled VBN B-VP +expected VBN B-VP +their PRP$ B-NP +freight-transport JJ I-NP +costs NNS I-NP +to TO B-VP +decrease VB I-VP +, , O +compared VBN B-PP +with IN B-PP +30 CD B-NP +% NN I-NP +who WP B-NP +had VBD B-VP +looked VBN I-VP +to TO B-PP +freight VB B-NP +transport NN I-NP +to TO B-VP +reduce VB I-VP +costs NNS B-NP +in IN B-PP +past JJ B-NP +years NNS I-NP +. . O + +`` `` O +This DT B-NP +is VBZ B-VP +the DT B-NP +first JJ I-NP +year NN I-NP +since IN B-PP +transportation NN B-NP +deregulation NN I-NP +in IN B-PP +1980 CD B-NP +that IN B-ADVP +we PRP B-NP +have VBP B-VP +had VBN I-VP +such JJ B-NP +a DT I-NP +dramatic JJ I-NP +and CC I-NP +broad-based JJ I-NP +upturn NN I-NP +in IN B-PP +perceived VBN B-NP +transportation NN I-NP +rates NNS I-NP +, , O +'' '' O +said VBD B-VP +Bernard NNP B-NP +LaLonde NNP I-NP +, , O +a DT B-NP +transportation NN I-NP +logistics NNS I-NP +professor NN I-NP +at IN B-PP +Ohio NNP B-NP +State NNP I-NP +in IN B-PP +Columbus NNP B-NP +. . O + +The DT B-NP +deregulation NN I-NP +of IN B-PP +railroads NNS B-NP +and CC I-NP +trucking NN I-NP +companies NNS I-NP +that WDT B-NP +began VBD B-VP +in IN B-PP +1980 CD B-NP +enabled VBD B-VP +shippers NNS B-NP +to TO B-VP +bargain VB I-VP +for IN B-PP +transportation NN B-NP +. . O + +Carriers NNP B-NP +could MD B-VP +use VB I-VP +their PRP$ B-NP +equipment NN I-NP +more RBR B-ADVP +efficiently RB I-ADVP +, , O +leading VBG B-VP +to TO B-PP +overcapacity NN B-NP +they PRP B-NP +were VBD B-VP +eager JJ B-ADJP +to TO B-VP +fill VB I-VP +. . O + +Shippers NNS B-NP +cut VBP B-VP +about RB B-NP +$ $ I-NP +35 CD I-NP +billion CD I-NP +from IN B-PP +their PRP$ B-NP +annual JJ I-NP +, , I-NP +inter-city JJ I-NP +truck NN I-NP +and CC I-NP +rail NN I-NP +costs NNS I-NP +, , O +to TO B-PP +about RB B-NP +$ $ I-NP +150 CD I-NP +billion CD I-NP +, , O +or CC O +about IN B-NP +6.4 CD I-NP +% NN I-NP +of IN B-PP +gross JJ B-NP +national JJ I-NP +product NN I-NP +, , O +down RB B-ADVP +from IN B-PP +8 CD B-NP +% NN I-NP +of IN B-PP +GNP NNP B-NP +in IN B-PP +1981 CD B-NP +. . O + +But CC O +with IN B-PP +much NN B-NP +of IN B-PP +the DT B-NP +inefficiency NN I-NP +squeezed VBN B-VP +out IN B-PP +of IN B-PP +the DT B-NP +freight-transport JJ I-NP +system NN I-NP +, , O +rising VBG B-NP +costs NNS I-NP +are VBP B-VP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +reflected VBN I-VP +directly RB B-ADVP +in IN B-PP +higher JJR B-NP +freight NN I-NP +rates NNS I-NP +. . O + +`` `` O +Shippers NNS B-NP +are VBP B-VP +saying VBG I-VP +` `` O +the DT B-NP +party NN I-NP +'s POS B-VP +over IN B-ADJP +, , O +' '' O +'' '' O +said VBD B-VP +Mr. NNP B-NP +LaLonde NNP I-NP +. . O + +`` `` O +Shippers NNS B-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +look VB I-VP +for IN B-PP +transportation-cost JJ B-NP +savings NNS I-NP +as IN B-SBAR +they PRP B-NP +have VBP B-VP +for IN B-PP +the DT B-NP +last JJ I-NP +eight CD I-NP +or CC I-NP +nine CD I-NP +years NNS I-NP +. . O + +Transport NN B-NP +rates NNS I-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +an DT B-NP +opportunity NN I-NP +for IN B-PP +offsetting VBG B-VP +cost NN B-NP +increases NNS I-NP +in IN B-PP +other JJ B-NP +segments NNS I-NP +of IN B-PP +the DT B-NP +economy NN I-NP +. . O +'' '' O + +Robert NNP B-NP +Delaney NNP I-NP +, , O +a DT B-NP +consultant NN I-NP +at IN B-PP +Arthur NNP B-NP +D. NNP I-NP +Little NNP I-NP +Inc. NNP I-NP +, , O +Cambridge NNP B-NP +, , O +Mass. NNP B-NP +, , O +said VBD B-VP +`` `` O +We PRP B-NP +'ve VBP B-VP +gotten VBN I-VP +all PDT B-NP +the DT I-NP +benefits NNS I-NP +of IN B-PP +deregulation NN B-NP +in IN B-PP +freight-cost JJ B-NP +reductions NNS I-NP +. . O + +Now RB B-ADVP +we PRP B-NP +are VBP B-VP +starting VBG I-VP +to TO I-VP +see VB I-VP +real JJ B-NP +freight-rate JJ I-NP +increases NNS I-NP +as IN B-SBAR +carriers NNS B-NP +replace VBP B-VP +equipment NN B-NP +, , O +pay VB B-VP +higher JJR B-NP +fuel NN I-NP +costs NNS I-NP +and CC O +pay VB B-VP +more JJR B-NP +for IN B-PP +labor NN B-NP +. . O + +You PRP B-NP +'ll MD B-VP +see VB I-VP +carriers NNS B-NP +try VB B-VP +to TO I-VP +recoup VB I-VP +some DT B-NP +of IN B-PP +the DT B-NP +price NN I-NP +cutting VBG I-NP +that WDT B-NP +occurred VBD B-VP +previously RB B-ADVP +. . O +'' '' O + +Not RB B-NP +everyone NN I-NP +believes VBZ B-VP +that IN B-SBAR +the DT B-NP +good JJ I-NP +times NNS I-NP +are VBP B-VP +over IN B-ADJP +for IN B-PP +shippers NNS B-NP +. . O + +`` `` O +There EX B-NP +'s VBZ B-VP +still RB B-ADVP +a DT B-NP +lot NN I-NP +of IN B-PP +pressure NN B-NP +on IN B-PP +rates NNS B-NP +in IN B-PP +both DT B-NP +rail NN I-NP +and CC I-NP +truck NN I-NP +, , O +'' '' O +said VBD B-VP +Gerard NNP B-NP +McCullough NNP I-NP +, , O +lecturer NN B-NP +in IN B-PP +transportation NN B-NP +at IN B-PP +Massachusetts NNP B-NP +Institute NNP I-NP +of IN B-PP +Technology NNP B-NP +. . O + +Less-than-truckload JJ B-NP +companies NNS I-NP +, , O +which WDT B-NP +carry VBP B-VP +the DT B-NP +freight NN I-NP +of IN B-PP +several JJ B-NP +shippers NNS I-NP +in IN B-PP +each DT B-NP +truck NN I-NP +trailer NN I-NP +, , O +discounted VBD B-VP +away RB B-ADVP +a DT B-NP +4.7 CD I-NP +% NN I-NP +rate NN I-NP +increase NN I-NP +implemented VBD B-VP +last JJ B-NP +April NNP I-NP +. . O + +The DT B-NP +carriers NNS I-NP +were VBD B-VP +competing VBG I-VP +fiercely RB B-ADVP +for IN B-PP +market NN B-NP +share NN I-NP +. . O + +Railroad-rate JJ B-NP +increases NNS I-NP +are VBP B-VP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +restrained VBN I-VP +by IN B-PP +weakening VBG B-NP +rail-traffic JJ I-NP +levels NNS I-NP +and CC O +keen JJ B-NP +competition NN I-NP +for IN B-PP +freight NN B-NP +from IN B-PP +trucks NNS B-NP +. . O + +An DT B-NP +official NN I-NP +at IN B-PP +Consolidated NNP B-NP +Freightways NNP I-NP +Inc. NNP I-NP +, , O +a DT B-NP +Menlo NNP I-NP +Park NNP I-NP +, , I-NP +Calif. NNP I-NP +, , I-NP +less-than-truckload JJ I-NP +carrier NN I-NP +, , O +said VBD B-VP +rate NN B-NP +discounting NN I-NP +in IN B-PP +that DT B-NP +industry NN I-NP +has VBZ B-VP +begun VBN I-VP +to TO I-VP +`` `` O +stabilize VB B-VP +. . O +'' '' O + +Consolidated NNP B-NP +Freightways NNP I-NP +plans VBZ B-VP +to TO I-VP +raise VB I-VP +its PRP$ B-NP +rates NNS I-NP +5.3 CD B-NP +% NN I-NP +late JJ B-NP +this DT I-NP +year NN I-NP +or CC O +early JJ B-NP +next JJ I-NP +year NN I-NP +, , O +and CC O +at IN B-NP +least JJS I-NP +two CD I-NP +competitors NNS I-NP +have VBP B-VP +announced VBN I-VP +similar JJ B-NP +increases NNS I-NP +. . O + +Truckers NNS B-NP +are VBP B-VP +`` `` O +trying VBG B-VP +to TO I-VP +send VB I-VP +signals NNS B-NP +that IN B-SBAR +they PRP B-NP +need VBP B-VP +to TO I-VP +stop VB I-VP +the DT B-NP +bloodletting NN I-NP +, , O +forget VB B-VP +about IN B-PP +market NN B-NP +share NN I-NP +and CC O +go VB B-VP +for IN B-PP +higher JJR B-NP +rates NNS I-NP +, , O +'' '' O +said VBD B-VP +Michael NNP B-NP +Lloyd NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +at IN B-PP +Salomon NNP B-NP +Bros NNP I-NP +. . O + +And CC O +`` `` O +shippers NNS B-NP +are VBP B-VP +getting VBG I-VP +the DT B-NP +feeling NN I-NP +that IN B-SBAR +they PRP B-NP +have VBP B-VP +played VBN I-VP +one CD B-NP +trucker NN I-NP +off IN B-ADVP +against IN B-PP +another DT B-NP +as RB B-NP +much JJ I-NP +as IN B-SBAR +they PRP B-NP +can MD B-VP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +Air-freight NN B-NP +carriers NNS I-NP +raised VBD B-VP +their PRP$ B-NP +rates NNS I-NP +for IN B-PP +U.S. NNP B-NP +products NNS I-NP +going VBG B-VP +across IN B-PP +the DT B-NP +Pacific NNP I-NP +to TO B-PP +Asia NNP B-NP +by IN B-PP +about IN B-NP +20 CD I-NP +% NN I-NP +earlier RBR B-NP +this DT I-NP +month NN I-NP +. . O + +And CC O +Japan NNP B-NP +Air NNP I-NP +Lines NNPS I-NP +said VBD B-VP +it PRP B-NP +plans VBZ B-VP +to TO I-VP +boost VB I-VP +its PRP$ B-NP +rates NNS I-NP +a DT B-NP +further JJ I-NP +25 CD I-NP +% NN I-NP +over IN B-PP +the DT B-NP +next JJ I-NP +two CD I-NP +years NNS I-NP +. . O + +Such JJ B-NP +rate NN I-NP +increases NNS I-NP +`` `` O +will MD B-VP +increase VB I-VP +the DT B-NP +total JJ I-NP +cost NN I-NP +of IN B-PP +U.S. NNP B-NP +products NNS I-NP +and CC O +slow JJ B-VP +down RP B-PRT +the DT B-NP +rate NN I-NP +of IN B-PP +increase NN B-NP +of IN B-PP +U.S. NNP B-NP +exports NNS I-NP +, , O +'' '' O +said VBD B-VP +Richard NNP B-NP +Connors NNP I-NP +, , O +a DT B-NP +senior JJ I-NP +vice NN I-NP +president NN I-NP +of IN B-PP +Yusen NNP B-NP +Air NNP I-NP +& CC I-NP +Sea NNP I-NP +Service NNP I-NP +U.S.A. NNP I-NP +Inc. NNP I-NP +, , O +the DT B-NP +U.S. NNP I-NP +air-freight-forwarding JJ I-NP +subsidiary NN I-NP +of IN B-PP +Nippon NNP B-NP +Yusen NNP I-NP +Kaisha NNP I-NP +of IN B-PP +Japan NNP B-NP +. . O + +Ship NN B-NP +companies NNS I-NP +carrying VBG B-VP +bulk NN B-NP +commodities NNS I-NP +, , O +such JJ B-PP +as IN I-PP +oil NN B-NP +, , O +grain NN B-NP +, , O +coal NN B-NP +and CC O +iron NN B-NP +ore NN I-NP +, , O +have VBP B-VP +been VBN I-VP +able JJ B-ADJP +to TO B-VP +increase VB I-VP +their PRP$ B-NP +rates NNS I-NP +in IN B-PP +the DT B-NP +last JJ I-NP +couple NN I-NP +of IN B-PP +years NNS B-NP +. . O + +Some DT B-NP +bulk NN I-NP +shipping VBG I-NP +rates NNS I-NP +have VBP B-VP +increased VBN I-VP +`` `` O +3 CD B-NP +% NN I-NP +to TO I-NP +4 CD I-NP +% NN I-NP +in IN B-PP +the DT B-NP +past JJ I-NP +few JJ I-NP +months NNS I-NP +, , O +'' '' O +said VBD B-VP +Salomon NNP B-NP +'s POS B-NP +Mr. NNP I-NP +Lloyd NNP I-NP +. . O + +And CC O +ship NN B-NP +lines NNS I-NP +carrying VBG B-VP +containers NNS B-NP +are VBP B-VP +also RB I-VP +trying VBG I-VP +to TO I-VP +raise VB I-VP +their PRP$ B-NP +rates NNS I-NP +. . O + +Carriers NNP B-NP +boosted VBD B-VP +rates NNS B-NP +more JJR B-NP +than IN I-NP +10 CD I-NP +% NN I-NP +in IN B-PP +the DT B-NP +North NNP I-NP +Atlantic NNP I-NP +between IN B-PP +the DT B-NP +U.S. NNP I-NP +and CC O +Europe NNP B-NP +last JJ B-NP +September NNP I-NP +, , O +hoping VBG B-VP +to TO I-VP +partly RB I-VP +restore VB I-VP +rates NNS B-NP +to TO B-PP +earlier JJR B-NP +levels NNS I-NP +. . O + +Ship NN B-NP +lines NNS I-NP +operating VBG B-VP +in IN B-PP +the DT B-NP +Pacific NNP I-NP +plan NN B-VP +to TO I-VP +raise VB I-VP +rates NNS B-NP +on IN B-PP +containers NNS B-NP +carrying VBG B-VP +U.S. NNP B-NP +exports NNS I-NP +to TO B-PP +Asia NNP B-NP +about IN B-NP +10 CD I-NP +% NN I-NP +, , O +effective JJ B-ADJP +next JJ B-NP +April NNP I-NP +. . O + +MGM NNP B-NP +Grand NNP I-NP +Inc. NNP I-NP +said VBD B-VP +it PRP B-NP +filed VBD B-VP +a DT B-NP +registration NN I-NP +statement NN I-NP +with IN B-PP +the DT B-NP +Securities NNP I-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +for IN B-PP +a DT B-NP +public JJ I-NP +offering NN I-NP +of IN B-PP +six CD B-NP +million CD I-NP +common JJ I-NP +shares NNS I-NP +. . O + +The DT B-NP +Beverly NNP I-NP +Hills NNP I-NP +, , I-NP +Calif.-based JJ I-NP +company NN I-NP +said VBD B-VP +it PRP B-NP +would MD B-VP +have VB I-VP +26.9 CD B-NP +million CD I-NP +common JJ I-NP +shares NNS I-NP +outstanding JJ B-ADJP +after IN B-PP +the DT B-NP +offering NN I-NP +. . O + +The DT B-NP +hotel NN I-NP +and CC I-NP +Gaming NNP I-NP +company NN I-NP +said VBD B-VP +Merrill NNP B-NP +Lynch NNP I-NP +Capital NNP I-NP +Markets NNPS I-NP +will MD B-VP +lead VB I-VP +the DT B-NP +underwriters NNS I-NP +. . O + +Proceeds NNS B-NP +from IN B-PP +the DT B-NP +sale NN I-NP +will MD B-VP +be VB I-VP +used VBN I-VP +for IN B-PP +remodeling VBG B-NP +and CC I-NP +refurbishing VBG I-NP +projects NNS I-NP +, , B-PP +as RB I-PP +well RB I-PP +as IN I-PP +for IN B-PP +the DT B-NP +planned VBN I-NP +MGM NNP I-NP +Grand NNP I-NP +hotel\/casino NN I-NP +and CC I-NP +theme NN I-NP +park NN I-NP +. . O + +Bob NNP B-NP +Stone NNP I-NP +stewed JJ B-VP +over IN B-PP +a DT B-NP +letter NN I-NP +from IN B-PP +his PRP$ B-NP +manager NN I-NP +putting VBG B-VP +him PRP B-NP +on IN B-PP +probation NN B-NP +for IN B-PP +insubordination NN B-NP +. . O + +Mr. NNP B-NP +Stone NNP I-NP +thought VBD B-VP +the DT B-NP +discipline NN I-NP +was VBD B-VP +unfair JJ B-ADJP +; : O +he PRP B-NP +believed VBD B-VP +that IN B-SBAR +his PRP$ B-NP +manager NN I-NP +wanted VBD B-VP +to TO I-VP +get VB I-VP +rid JJ B-ADJP +of IN B-PP +him PRP B-NP +for IN B-PP +personal JJ B-NP +reasons NNS I-NP +. . O + +Unable JJ B-ADJP +to TO B-VP +persuade VB I-VP +the DT B-NP +manager NN I-NP +to TO B-VP +change VB I-VP +his PRP$ B-NP +decision NN I-NP +, , O +he PRP B-NP +went VBD B-VP +to TO B-PP +a DT B-NP +`` `` I-NP +company NN I-NP +court NN I-NP +'' '' O +for IN B-PP +a DT B-NP +hearing NN I-NP +. . O + +At IN B-PP +the DT B-NP +scheduled VBN I-NP +time NN I-NP +, , O +Mr. NNP B-NP +Stone NNP I-NP +entered VBD B-VP +a DT B-NP +conference NN I-NP +room NN I-NP +in IN B-PP +a DT B-NP +building NN I-NP +near IN B-PP +where WRB B-ADVP +he PRP B-NP +worked VBD B-VP +. . O + +After IN B-SBAR +the DT B-NP +three CD I-NP +members NNS I-NP +of IN B-PP +the DT B-NP +court NN I-NP +introduced VBD B-VP +themselves PRP B-NP +, , O +the DT B-NP +chairman NN I-NP +of IN B-PP +the DT B-NP +panel NN I-NP +said VBD B-VP +: : O +`` `` O +Go VB B-VP +ahead RB B-ADVP +and CC O +tell VB B-VP +us PRP B-NP +what WP B-NP +happened VBD B-VP +. . O + +We PRP B-NP +may MD B-VP +ask VB I-VP +questions NNS B-NP +as IN B-SBAR +you PRP B-NP +go VBP B-VP +along IN B-PRT +, , O +or CC O +we PRP B-NP +may MD B-VP +wait VB I-VP +until IN B-PP +the DT B-NP +end NN I-NP +. . O +'' '' O + +No DT B-NP +lawyers NNS I-NP +or CC I-NP +tape NN I-NP +recorders NNS I-NP +were VBD B-VP +present JJ B-ADJP +. . O + +The DT B-NP +only RB I-NP +extra JJ I-NP +people NNS I-NP +were VBD B-VP +a DT B-NP +couple NN I-NP +of IN B-PP +personnel NNS B-NP +specialists NNS I-NP +, , O +one CD B-NP +of IN B-PP +whom WP B-NP +knew VBD B-VP +Mr. NNP B-NP +Stone NNP I-NP +'s POS B-NP +case NN I-NP +intimately RB B-ADVP +and CC O +would MD B-VP +help VB I-VP +fill VB I-VP +in IN B-PRT +any DT B-NP +facts NNS I-NP +needed VBN B-VP +to TO B-VP +give VB I-VP +the DT B-NP +court NN I-NP +the DT B-NP +full JJ I-NP +picture NN I-NP +. . O + +Over IN B-PP +a DT B-NP +cup NN I-NP +of IN B-PP +coffee NN B-NP +, , O +Mr. NNP B-NP +Stone NNP I-NP +told VBD B-VP +his PRP$ B-NP +story NN I-NP +. . O + +He PRP B-NP +talked VBD B-VP +about IN B-NP +20 CD I-NP +minutes NNS I-NP +. . O + +When WRB B-ADVP +he PRP B-NP +was VBD B-VP +through IN B-ADJP +, , O +the DT B-NP +court NN I-NP +members NNS I-NP +asked VBD B-VP +many JJ B-NP +questions NNS I-NP +, , O +then RB B-ADVP +the DT B-NP +chairman NN I-NP +said VBD B-VP +they PRP B-NP +would MD B-VP +like VB I-VP +to TO I-VP +hear VB I-VP +his PRP$ B-NP +manager NN I-NP +'s POS B-NP +side NN I-NP +and CC O +talk VB B-VP +to TO B-PP +witnesses NNS B-NP +. . O + +The DT B-NP +chairman NN I-NP +promised VBD B-VP +Mr. NNP B-NP +Stone NNP I-NP +a DT B-NP +decision NN I-NP +within IN B-PP +two CD B-NP +weeks NNS I-NP +. . O + +Bob NNP B-NP +Stone NNP I-NP +is VBZ B-VP +a DT B-NP +fictional JJ I-NP +name NN I-NP +, , O +but CC O +the DT B-NP +incident NN I-NP +described VBN B-VP +is VBZ B-VP +real JJ B-ADJP +. . O + +It PRP B-NP +happened VBD B-VP +at IN B-PP +Northrop NNP B-NP +Corp. NNP I-NP +in IN B-PP +Los NNP B-NP +Angeles NNP I-NP +. . O + +The DT B-NP +court NN I-NP +is VBZ B-VP +called VBN I-VP +the DT B-NP +Management NNP I-NP +Appeals NNP I-NP +Committee NNP I-NP +, , O +or CC O +just RB B-NP +`` `` I-NP +MAC NNP I-NP +, , O +'' '' O +and CC O +it PRP B-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +hear VB I-VP +a DT B-NP +couple NN I-NP +of IN I-NP +dozen NN I-NP +cases VBZ I-NP +a DT B-NP +year NN I-NP +. . O + +Alter VB B-VP +some DT B-NP +details NNS I-NP +of IN B-PP +this DT B-NP +example NN I-NP +and CC O +it PRP B-NP +could MD B-VP +be VB I-VP +taking VBG I-VP +place NN B-NP +today NN B-ADVP +at IN B-PP +Federal NNP B-NP +Express NNP I-NP +in IN B-PP +Memphis NNP B-NP +, , O +the DT B-NP +Defense NNP I-NP +and CC I-NP +Underseas NNP I-NP +Systems NNP I-NP +divisions NNS I-NP +of IN B-PP +Honeywell NNP B-NP +in IN B-PP +Minneapolis NNP B-NP +, , O +a DT B-NP +General NNP I-NP +Electric NNP I-NP +plant NN I-NP +in IN B-PP +Columbia NNP B-NP +, , O +Md. NNP B-NP +, , O +or CC O +a DT B-NP +number NN I-NP +of IN B-PP +other JJ B-NP +companies NNS I-NP +. . O + +These DT B-NP +firms NNS I-NP +are VBP B-VP +pioneers NNS B-NP +in IN B-PP +a DT B-NP +significant JJ I-NP +new JJ I-NP +trend NN I-NP +in IN B-PP +the DT B-NP +corporate JJ I-NP +world NN I-NP +: : O +the DT B-NP +rise NN I-NP +of IN B-PP +what WP B-NP +I PRP B-NP +call VBP B-VP +corporate JJ B-NP +due JJ I-NP +process NN I-NP +. . O + +Although IN B-SBAR +corporate JJ B-NP +due JJ I-NP +process NN I-NP +is VBZ B-VP +practiced VBN I-VP +today NN B-NP +in IN B-PP +few JJ B-NP +companies NNS I-NP +-- : O +perhaps RB B-ADVP +40 CD B-NP +to TO I-NP +60 CD I-NP +-- : O +it PRP B-NP +is VBZ B-VP +one CD B-NP +of IN B-PP +the DT B-NP +fastest JJS I-NP +developing VBG I-NP +trends NNS I-NP +in IN B-PP +industry NN B-NP +. . O + +In IN B-PP +the DT B-NP +coming VBG I-NP +decade NN I-NP +a DT B-NP +majority NN I-NP +of IN B-PP +people-oriented JJ B-NP +companies NNS I-NP +are VBP B-VP +likely JJ B-ADJP +to TO B-VP +adopt VB I-VP +it PRP B-NP +. . O + +Corporate JJ B-NP +due JJ I-NP +process NN I-NP +appeals NNS B-VP +to TO B-PP +management NN B-NP +for IN B-PP +a DT B-NP +variety NN I-NP +of IN B-PP +reasons NNS B-NP +. . O + +It PRP B-NP +reduces VBZ B-VP +lawsuits NNS B-NP +from IN B-PP +disgruntled JJ B-NP +employees NNS I-NP +and CC I-NP +ex-employees NNS I-NP +, , O +with IN B-PP +all DT B-NP +that WDT B-NP +means VBZ B-VP +for IN B-PP +reduced VBN B-NP +legal JJ I-NP +costs NNS I-NP +and CC O +better RBR B-NP +public JJ I-NP +relations NNS I-NP +. . O + +It PRP B-NP +helps VBZ B-VP +to TO I-VP +keep VB I-VP +out IN B-PRT +unions NNS B-NP +. . O + +It PRP B-NP +increases VBZ B-VP +employee NN B-NP +commitment NN I-NP +to TO B-PP +the DT B-NP +company NN I-NP +, , O +with IN B-PP +all DT B-NP +that WDT B-NP +means VBZ B-VP +for IN B-PP +efficiency NN B-NP +and CC O +quality NN B-NP +control NN I-NP +. . O + +What WP B-NP +must MD O +your PRP$ B-NP +management NN I-NP +team NN I-NP +do VBP B-VP +to TO B-VP +establish VB I-VP +corporate JJ B-NP +due JJ I-NP +process NN I-NP +? . O + +Here RB B-ADVP +are VBP B-VP +four CD B-NP +key JJ I-NP +steps NNS I-NP +: : O + +1 CD B-LST +. . O +Make VB B-VP +sure JJ B-ADJP +you PRP B-NP +have VBP B-VP +a DT B-NP +strong JJ I-NP +personnel NNS I-NP +department NN I-NP +. . O + +It PRP B-NP +must MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +handle VB I-VP +most RBS B-NP +of IN B-PP +the DT B-NP +complaints NNS I-NP +that WDT B-NP +can MD B-VP +not RB I-VP +be VB I-VP +solved VBN I-VP +in IN B-PP +the DT B-NP +trenches NNS I-NP +by IN B-PP +managers NNS B-NP +and CC O +their PRP$ B-NP +subordinates NNS I-NP +, , O +else RB B-ADVP +the DT B-NP +company NN I-NP +court NN I-NP +or CC I-NP +adjudicators NNS I-NP +will MD B-VP +be VB B-VP +inundated VBN I-VP +with IN B-PP +cases NNS B-NP +. . O + +At IN B-PP +Polaroid NNP B-NP +, , O +the DT B-NP +Personnel NNP I-NP +Policy NNP I-NP +Planning NNP I-NP +Committee NNP I-NP +may MD B-VP +hear VB I-VP +only RB B-NP +about IN I-NP +20 CD I-NP +cases VBZ I-NP +a DT B-NP +year NN I-NP +; : O +the DT B-NP +rest NN I-NP +of IN B-PP +the DT B-NP +many JJ I-NP +hundreds NNS I-NP +of IN B-PP +complaints NNS B-NP +are VBP B-VP +resolved VBN I-VP +at IN B-PP +earlier JJR B-NP +stages NNS I-NP +. . O + +At IN B-PP +TWA NNP B-NP +, , O +the DT B-NP +System NNP I-NP +Board NNP I-NP +of IN B-PP +Adjustment NNP B-NP +hears VBZ B-VP +50 CD B-NP +to TO I-NP +75 CD I-NP +cases VBZ I-NP +a DT B-NP +year NN I-NP +, , O +only RB B-NP +a DT I-NP +fraction NN I-NP +of IN B-PP +the DT B-NP +complaints NNS I-NP +brought VBN B-VP +to TO B-PP +personnel NNS B-NP +specialists NNS I-NP +. . O + +At IN B-PP +Citicorp NNP B-NP +, , O +the DT B-NP +Problem NNP I-NP +Review NNP I-NP +Board NNP I-NP +may MD B-VP +hear VB I-VP +only RB B-NP +12 CD I-NP +or CC I-NP +so RB I-NP +cases VBZ I-NP +because IN B-PP +of IN I-PP +personnel NNS B-NP +'s POS B-NP +skill NN I-NP +in IN B-PP +complaint-resolution NN B-NP +. . O + +In IN B-PP +a DT B-NP +typical JJ I-NP +year NN I-NP +, , O +up IN B-NP +to TO I-NP +20 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +work NN I-NP +force NN I-NP +goes VBZ B-VP +to TO B-PP +personnel NNS B-NP +specialists NNS I-NP +with IN B-PP +complaints NNS B-NP +of IN B-PP +unfair JJ B-NP +treatment NN I-NP +. . O + +In IN B-PP +a DT B-NP +large JJ I-NP +company NN I-NP +that WDT B-NP +means VBZ B-VP +many JJ B-NP +hundreds NNS I-NP +of IN B-PP +complaints NNS B-NP +for IN B-PP +personnel NNS B-NP +to TO B-VP +handle VB I-VP +. . O + +2 CD B-LST +. . O +Formally RB B-ADVP +or CC I-ADVP +informally RB I-ADVP +, , O +train NN B-VP +all DT B-NP +your PRP$ I-NP +managers NNS I-NP +and CC I-NP +supervisors NNS I-NP +in IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +due-process NN I-NP +approach NN I-NP +. . O + +See VB B-VP +that IN B-SBAR +they PRP B-NP +know VBP B-VP +company NN B-NP +personnel NNS I-NP +policy NN I-NP +backwards RB B-ADVP +and CC I-ADVP +forwards RB I-ADVP +, , O +for IN O +it PRP B-NP +is VBZ B-VP +the DT B-NP +`` `` I-NP +law NN I-NP +'' '' O +governing VBG B-VP +company NN B-NP +courts NNS I-NP +and CC I-NP +adjudicators NNS I-NP +. . O + +Coach NNP B-VP +them PRP B-NP +in IN B-PP +handling NN B-VP +complaints NNS B-NP +so RB B-SBAR +that IN I-SBAR +they PRP B-NP +can MD B-VP +resolve VB I-VP +problems NNS B-NP +immediately RB B-ADVP +. . O + +In IN B-SBAR +case NN O +managers NNS B-NP +and CC O +personnel NNS B-NP +specialists NNS I-NP +are VBP B-VP +unsuccessful JJ B-ADJP +and CC O +subordinates NNS B-NP +take VBP B-VP +their PRP$ B-NP +complaints NNS I-NP +to TO B-PP +a DT B-NP +company NN I-NP +court NN I-NP +or CC I-NP +adjudicator NN I-NP +, , O +teach VB B-VP +managers NNS B-NP +to TO B-VP +accept VB I-VP +reversals NNS B-NP +as IN B-PP +a DT B-NP +fact NN I-NP +of IN B-PP +business NN B-NP +life NN I-NP +, , O +for IN O +in IN B-PP +a DT B-NP +good JJ I-NP +due-process NN I-NP +system NN I-NP +they PRP B-NP +are VBP B-VP +bound VBN I-VP +to TO I-VP +happen VB I-VP +. . O + +In IN B-PP +the DT B-NP +15 CD I-NP +companies NNS I-NP +I PRP B-NP +studied VBD B-VP +, , O +reversal NN B-NP +rates NNS I-NP +range VBP B-VP +on IN B-PP +the DT B-NP +average NN I-NP +from IN B-PP +20 CD B-NP +% NN I-NP +to TO B-PP +40 CD B-NP +% NN I-NP +. . O + +3 CD B-LST +. . O +Decide VB B-VP +whether IN O +you PRP B-NP +want VBP B-VP +a DT B-NP +panel NN I-NP +system NN I-NP +or CC O +a DT B-NP +single JJ I-NP +adjudicator NN I-NP +. . O + +A DT B-NP +panel NN I-NP +system NN I-NP +like IN B-PP +that DT B-NP +in NN B-PP +the DT B-NP +Bob NNP I-NP +Stone NNP I-NP +example NN I-NP +enjoys VBZ B-VP +such JJ B-NP +advantages NNS I-NP +as IN B-PP +high JJ B-NP +credibility NN I-NP +and CC O +, , O +for IN B-PP +the DT B-NP +panelists NNS I-NP +, , O +mutual JJ B-NP +support NN I-NP +. . O + +An DT B-NP +adjudicator NN I-NP +system NN I-NP +-- : O +that DT B-INTJ +is VBZ I-INTJ +, , O +an DT B-NP +investigator NN I-NP +who WP B-NP +acts VBZ B-VP +first JJ B-ADVP +as IN B-PP +a DT B-NP +fact-finder NN I-NP +and CC O +then RB O +switches VBZ B-VP +hats NNS B-NP +and CC O +arbitrates VBZ B-VP +the DT B-NP +facts NNS I-NP +-- : O +has VBZ B-VP +such JJ B-NP +advantages NNS I-NP +as IN B-PP +speed NN B-NP +, , O +flexibility NN B-NP +and CC O +maximum JJ B-NP +privacy NN I-NP +. . O + +International NNP B-NP +Business NNP I-NP +Machines NNPS I-NP +and CC O +Bank NNP B-NP +of IN B-PP +America NNP B-NP +are VBP B-VP +among IN B-PP +the DT B-NP +companies NNS I-NP +using VBG B-VP +the DT B-NP +single-adjudicator JJ I-NP +approach NN I-NP +. . O + +4 CD B-LST +. . O +Make VB B-VP +your PRP$ B-NP +due-process NN I-NP +system NN I-NP +visible JJ B-ADJP +. . O + +It PRP B-NP +wo MD B-VP +n't RB I-VP +do VB I-VP +any DT B-NP +good NN I-NP +for IN B-PP +anybody NN B-NP +unless IN B-SBAR +employees NNS B-NP +know VBP B-VP +about IN B-PP +it PRP B-NP +. . O + +Most JJS B-NP +managements NNS I-NP +hesitate VBP B-VP +to TO I-VP +go VB I-VP +all DT B-ADVP +out NN I-ADVP +in IN B-PP +advertising VBG B-VP +their PRP$ B-NP +due-process NN I-NP +systems NNS I-NP +for IN B-PP +fear NN B-NP +of IN B-PP +encouraging VBG B-VP +cranks NNS B-NP +and CC O +chronic JJ B-NP +soreheads NNS I-NP +to TO B-VP +file VB I-VP +complaints NNS B-NP +. . O + +On IN B-PP +the DT B-NP +other JJ I-NP +hand NN I-NP +, , O +they PRP B-NP +make VBP B-VP +sure JJ B-ADJP +at IN B-PP +a DT B-NP +minimum NN I-NP +that IN B-SBAR +their PRP$ B-NP +systems NNS I-NP +are VBP B-VP +described VBN I-VP +in IN B-PP +their PRP$ B-NP +employee NN I-NP +handbooks NNS I-NP +and CC O +talked VBD B-VP +up IN B-PRT +by IN B-PP +personnel NNS B-NP +specialists NNS I-NP +. . O + +Smith-Kline NNP B-NP +Beecham NNP I-NP +goes VBZ B-VP +further JJ B-ADVP +and CC O +sometimes RB B-VP +features VBZ I-VP +its PRP$ B-NP +grievance NN I-NP +procedure NN I-NP +in IN B-PP +closed-circuit JJ B-NP +TV NN I-NP +programs NNS I-NP +. . O + +Naturally RB B-ADVP +, , O +one CD B-NP +of IN B-PP +the DT B-NP +best JJS I-NP +ways NNS I-NP +to TO B-VP +guarantee VB I-VP +visibility NN B-NP +for IN B-PP +your PRP$ B-NP +due-process NN I-NP +system NN I-NP +is VBZ B-VP +for IN B-SBAR +top JJ B-NP +management NN I-NP +to TO B-VP +support VB I-VP +it PRP B-NP +. . O + +At IN B-PP +IBM NNP B-NP +, , O +the DT B-NP +company NN I-NP +'s POS B-NP +Open NNP I-NP +Door NNP I-NP +system NN I-NP +is VBZ B-VP +sometimes RB B-ADVP +the DT B-NP +subject NN I-NP +of IN B-PP +memorandums NNS B-NP +from IN B-PP +the DT B-NP +chief JJ I-NP +executive NN I-NP +. . O + +Federal NNP B-NP +Express NNP I-NP +goes VBZ B-VP +further JJ B-ADVP +in IN B-PP +this DT B-NP +respect NN I-NP +than IN B-PP +any DT B-NP +company NN I-NP +I PRP B-NP +know VBP B-VP +of IN B-PP +with IN B-PP +both DT B-NP +Frederick NNP B-NP +Smith NNP I-NP +and CC O +James NNP B-NP +Barksdale NNP I-NP +, , O +chief JJ B-NP +executive NN I-NP +and CC O +chief JJ B-NP +operating VBG I-NP +officer NN I-NP +, , O +respectively RB B-ADVP +, , O +sitting VBG B-VP +in IN B-PRT +on IN B-PP +the DT B-NP +Appeals NNP I-NP +Board NNP I-NP +almost RB B-NP +every DT I-NP +Tuesday NNP I-NP +to TO B-VP +decide VB I-VP +cases NNS B-NP +. . O + +Mr. NNP B-NP +Ewing NNP I-NP +is VBZ B-VP +a DT B-NP +consultant NN I-NP +based VBN B-VP +in IN B-PP +Winchester NNP B-NP +, , O +Mass. NNP B-NP +, , O +and CC O +author NN B-NP +of IN B-PP +`` `` O +Justice NNP B-NP +on IN B-PP +the DT B-NP +Job NNP I-NP +: : O +Resolving NNP B-VP +Grievances NNP B-NP +in IN B-PP +the DT B-NP +Nonunion NNP I-NP +Workplace NN I-NP +'' '' O +-LRB- ( O +Harvard NNP B-NP +Business NNP I-NP +School NNP I-NP +Press NNP I-NP +, , O +1989 CD B-NP +-RRB- ) O +. . O + +Tokyo NNP B-NP +stocks NNS I-NP +closed VBD B-VP +higher JJR B-ADVP +in IN B-PP +active JJ B-NP +trading NN I-NP +Friday NNP B-NP +, , O +marking VBG B-VP +the DT B-NP +fourth JJ I-NP +consecutive JJ I-NP +daily JJ I-NP +gain NN I-NP +since IN B-PP +Monday NNP B-NP +'s POS B-NP +sharp JJ I-NP +fall NN I-NP +. . O + +London JJ B-NP +shares NNS I-NP +closed VBD B-VP +moderately RB B-ADVP +lower JJR I-ADVP +in IN B-PP +thin JJ B-NP +trading NN I-NP +. . O + +At IN B-PP +Tokyo NNP B-NP +, , O +the DT B-NP +Nikkei NNP I-NP +index NN I-NP +of IN B-PP +225 CD B-NP +selected VBN I-NP +issues NNS I-NP +was VBD B-VP +up IN B-ADVP +112.16 CD B-NP +points NNS I-NP +to TO B-PP +35486.38 CD B-NP +. . O + +The DT B-NP +index NN I-NP +advanced VBD B-VP +266.66 CD B-NP +points NNS I-NP +Thursday NNP B-NP +. . O + +In IN B-PP +early JJ B-NP +trading NN I-NP +in IN B-PP +Tokyo NNP B-NP +Monday NNP B-NP +, , O +the DT B-NP +Nikkei NNP I-NP +index NN I-NP +rose VBD B-VP +101.98 CD B-NP +points NNS I-NP +to TO B-PP +35588.36 CD B-NP +. . O + +Friday NNP B-NP +'s POS B-NP +volume NN I-NP +on IN B-PP +the DT B-NP +First NNP I-NP +Section NN I-NP +was VBD B-VP +estimated VBN I-VP +at IN B-PP +one CD B-NP +billion CD I-NP +shares NNS I-NP +, , O +up IN B-ADVP +from IN B-PP +862 CD B-NP +million CD I-NP +Thursday NNP B-NP +. . O + +Winners NNS B-NP +outpaced VBD B-VP +losers NNS B-NP +, , O +572 CD B-ADVP +to TO I-ADVP +368 CD I-ADVP +, , O +while IN B-SBAR +181 CD B-NP +issues NNS I-NP +remained VBD B-VP +unchanged JJ B-ADJP +. . O + +With IN B-SBAR +investors NNS B-NP +relieved VBN B-ADJP +at IN B-PP +the DT B-NP +overnight JJ I-NP +gain NN I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +stocks NNS I-NP +, , O +small-lot JJ B-NP +buying NN I-NP +orders NNS I-NP +streamed VBD B-VP +into IN B-PP +the DT B-NP +market NN I-NP +from IN B-PP +early JJ B-NP +morning NN I-NP +, , O +making VBG B-VP +traders NNS B-NP +believe VBP B-VP +the DT B-NP +market NN I-NP +was VBD B-VP +back RB B-ADVP +to TO B-PP +normal JJ B-NP +. . O + +The DT B-NP +Nikkei NNP I-NP +, , O +which WDT B-NP +reached VBD B-VP +as RB B-ADJP +high JJ I-ADJP +as IN B-PP +35611.38 CD B-NP +right NN B-ADVP +after IN B-PP +the DT B-NP +opening NN I-NP +, , O +surrendered VBD B-VP +part NN B-NP +of IN B-PP +its PRP$ B-NP +early JJ I-NP +advance NN I-NP +toward IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +day NN I-NP +because IN B-PP +of IN I-PP +profit-taking NN B-NP +. . O + +`` `` O +Investors NNS B-NP +, , B-NP +especially RB I-NP +dealers NNS B-NP +, , O +do VBP B-VP +n't RB I-VP +want VB I-VP +to TO I-VP +hold VB I-VP +a DT B-NP +position NN I-NP +over IN B-PP +the DT B-NP +weekend NN I-NP +, , O +'' '' O +a DT B-NP +trader NN I-NP +at IN B-PP +Dai-ichi NNP B-NP +Securities NNP I-NP +said VBD B-VP +, , O +adding VBG B-VP +, , O +though RB B-ADVP +, , O +that IN B-SBAR +the DT B-NP +trading NN I-NP +mood NN I-NP +remained VBD B-VP +positive JJ B-ADJP +through IN B-PP +the DT B-NP +afternoon NN I-NP +session NN I-NP +. . O + +The DT B-NP +Tokyo NNP I-NP +Stock NNP I-NP +Price NNP I-NP +Index NNP I-NP +-LRB- ( O +Topix NNP B-NP +-RRB- ) O +of IN B-PP +all DT B-NP +issues NNS I-NP +listed VBN B-VP +in IN B-PP +the DT B-NP +First NNP I-NP +Section NN I-NP +, , O +which WDT B-NP +gained VBD B-VP +22.78 CD B-NP +points NNS I-NP +Thursday NNP B-NP +, , O +was VBD B-VP +up IN B-ADVP +14.06 CD B-NP +points NNS I-NP +, , O +or CC O +0.53 CD B-NP +% NN I-NP +, , O +at IN B-PP +2679.72 CD B-NP +. . O + +The DT B-NP +Second JJ I-NP +Section NN I-NP +index NN I-NP +, , O +which WDT B-NP +rose VBD B-VP +15.72 CD B-NP +points NNS I-NP +Thursday NNP B-NP +, , O +was VBD B-VP +up IN B-ADVP +11.88 CD B-NP +points NNS I-NP +, , O +or CC O +0.32 CD B-NP +% NN I-NP +, , O +to TO B-VP +close VB I-VP +at IN B-PP +3717.46 CD B-NP +. . O + +Volume NN B-NP +in IN B-PP +the DT B-NP +second JJ I-NP +section NN I-NP +was VBD B-VP +estimated VBN I-VP +at IN B-PP +30 CD B-NP +million CD I-NP +shares NNS I-NP +, , O +up IN B-ADVP +from IN B-PP +28 CD B-NP +million CD I-NP +Thursday NNP B-NP +. . O + +In IN B-PP +turmoil NN B-NP +caused VBN B-VP +by IN B-PP +the DT O +previous JJ B-NP +Friday NNP I-NP +'s POS B-NP +plunge NN I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +stocks NNS I-NP +, , O +the DT B-NP +Nikkei NNP I-NP +marked VBD B-VP +a DT B-NP +sharp JJ I-NP +647.33-point JJ I-NP +fall NN I-NP +Monday NNP B-NP +. . O + +But CC O +the DT B-NP +Nikkei NNP I-NP +fell VBD B-VP +an DT B-NP +overall JJ I-NP +1.8 CD I-NP +% NN I-NP +in IN B-PP +value NN B-NP +that DT B-NP +day NN I-NP +compared VBN B-PP +with IN B-PP +Wall NNP B-NP +Street NNP I-NP +'s POS I-NP +far RB B-ADJP +sharper JJR I-ADJP +6.9 CD B-ADJP +% NN I-ADJP +drop NN B-NP +on IN B-PP +Oct. NNP B-NP +13 CD I-NP +. . O + +The DT B-NP +Tokyo NNP I-NP +market NN I-NP +'s POS B-NP +resiliency NN I-NP +helped VBD B-VP +participants NNS B-NP +to TO B-VP +regain VB I-VP +confidence NN B-NP +gradually RB B-ADVP +as IN B-SBAR +they PRP B-NP +spent VBD B-VP +more JJR B-NP +time NN I-NP +on IN B-PP +analyzing VBG B-VP +factors NNS B-NP +that WDT B-NP +caused VBD B-VP +the DT B-NP +Friday NNP I-NP +plunge NN I-NP +and CC O +realized VBD B-VP +these DT B-NP +problems NNS I-NP +were VBD B-VP +unique JJ B-ADJP +to TO B-PP +New NNP B-NP +York NNP I-NP +stocks NNS I-NP +and CC B-ADJP +not RB I-ADJP +directly RB B-ADJP +related VBN I-ADJP +to TO B-PP +Tokyo NNP B-NP +. . O + +The DT B-NP +Nikkei NNP I-NP +continued VBD B-VP +to TO I-VP +gain VB I-VP +for IN B-PP +the DT B-NP +rest NN I-NP +of IN B-PP +the DT B-NP +week NN I-NP +, , O +adding VBG B-VP +1017.69 CD B-NP +points NNS I-NP +in IN B-PP +four CD B-NP +days NNS I-NP +-- : O +more JJR B-VP +than IN I-VP +erasing VBG I-VP +Monday NNP B-NP +'s POS B-NP +losses NNS I-NP +. . O + +But CC O +further JJ B-NP +major JJ I-NP +advances NNS I-NP +on IN B-PP +the DT B-NP +Nikkei NNP I-NP +are VBP B-VP +n't RB I-VP +foreseen VBN I-VP +this DT B-NP +week NN I-NP +by IN B-PP +market NN B-NP +observers NNS I-NP +. . O + +Investors NNS B-NP +are VBP B-VP +still RB I-VP +waiting VBG I-VP +to TO I-VP +see VB I-VP +how WRB B-ADVP +the DT B-NP +U.S. NNP I-NP +government NN I-NP +will MD B-VP +decide VB I-VP +on IN B-PP +interest NN B-NP +rates NNS I-NP +and CC O +how WRB B-ADVP +the DT B-NP +dollar NN I-NP +will MD B-VP +be VB I-VP +stabilized VBN I-VP +. . O + +Some DT B-NP +high-priced JJ I-NP +issues NNS I-NP +made VBD B-VP +a DT B-NP +comeback NN I-NP +Friday NNP B-NP +. . O + +Pioneer NNP B-NP +surged VBD B-VP +450 CD B-NP +yen NN I-NP +-LRB- ( O +$ $ B-NP +3.16 CD I-NP +-RRB- ) O +to TO B-PP +6,050 CD B-NP +yen NN I-NP +-LRB- ( O +$ $ B-NP +42.60 CD I-NP +-RRB- ) O +. . O + +Kyocera NNP B-NP +advanced VBD B-VP +80 CD B-NP +yen NN I-NP +to TO B-PP +5,440 CD B-NP +. . O + +Fanuc NNP B-NP +gained VBD B-VP +100 CD B-NP +to TO B-PP +7,580 CD B-NP +. . O + +Breweries NNP B-NP +attracted VBD B-VP +investors NNS B-NP +because IN B-PP +of IN I-PP +their PRP$ B-NP +land NN I-NP +property NN I-NP +holdings NNS I-NP +that WDT B-NP +could MD B-VP +figure VB I-VP +in IN B-PP +development NN B-NP +or CC O +other JJ B-NP +plans NNS I-NP +, , O +traders NNS B-NP +said VBD B-VP +. . O + +Sapporo NNP B-NP +gained VBD B-VP +80 CD B-NP +to TO B-PP +1,920 CD B-NP +and CC O +Kirin NNP B-NP +added VBD B-VP +60 CD B-NP +to TO B-PP +2,070 CD B-NP +. . O + +Housings NNS B-NP +, , I-NP +constructions NNS I-NP +and CC I-NP +pharmaceuticals NNS I-NP +continued VBD B-VP +to TO I-VP +be VB I-VP +bought VBN I-VP +following VBG B-PP +Thursday NNP B-NP +'s POS B-NP +gains NNS I-NP +because IN B-PP +of IN I-PP +strong JJ B-NP +earnings NNS I-NP +outlooks NNS I-NP +. . O + +Daiwa NNP B-NP +House NNP I-NP +gained VBD B-VP +50 CD B-NP +to TO B-PP +2,660 CD B-NP +. . O + +Misawa NNP B-NP +Homes NNP I-NP +was VBD B-VP +up IN B-ADVP +20 CD B-NP +at IN B-PP +2,960 CD B-NP +. . O + +Kajima NNP B-NP +advanced VBD B-VP +40 CD B-NP +to TO B-PP +2,120 CD B-NP +and CC O +Ohbayashi NNP B-NP +added VBD B-VP +50 CD B-NP +to TO B-PP +1,730 CD B-NP +. . O + +Fujisawa NNP B-NP +added VBD B-VP +80 CD B-NP +to TO B-PP +2,010 CD B-NP +and CC O +Mochida NNP B-NP +advanced VBD B-VP +230 CD B-NP +to TO B-PP +4,400 CD B-NP +. . O + +London JJ B-NP +share NN I-NP +prices NNS I-NP +were VBD B-VP +influenced VBN I-VP +largely RB B-ADVP +by IN B-PP +declines NNS B-NP +on IN B-PP +Wall NNP B-NP +Street NNP I-NP +and CC O +weakness NN B-NP +in IN B-PP +the DT B-NP +British JJ I-NP +pound NN I-NP +. . O + +The DT B-NP +key JJ I-NP +Financial NNP I-NP +Times-Stock NNP I-NP +Exchange NNP I-NP +100-share JJ I-NP +index NN I-NP +ended VBD B-VP +10.2 CD B-NP +points NNS I-NP +lower JJR B-ADVP +at IN B-PP +2179.1 CD B-NP +, , O +above IN B-ADVP +its PRP$ B-NP +intraday JJ I-NP +low NN I-NP +of IN B-PP +2176.9 CD B-NP +, , B-ADVP +but CC I-ADVP +off IN B-ADVP +the DT B-NP +day NN I-NP +'s POS I-NP +high NN B-NP +of IN B-PP +2189 CD B-NP +. . O + +The DT B-NP +index NN I-NP +finished VBD B-VP +2.4 CD B-NP +% NN I-NP +under IN B-PP +its PRP$ B-NP +close NN I-NP +of IN B-PP +2233.9 CD B-NP +the DT B-NP +previous JJ I-NP +Friday NNP I-NP +, , O +although IN B-SBAR +it PRP B-NP +recouped VBD B-VP +some DT B-NP +of IN B-PP +the DT B-NP +sharp JJ I-NP +losses NNS I-NP +staged VBD B-VP +early JJ B-NP +last JJ I-NP +week NN I-NP +on IN B-PP +the DT B-NP +back RB I-NP +of IN B-PP +Wall NNP B-NP +Street NNP I-NP +'s POS B-NP +fall NN I-NP +. . O + +London NNP B-NP +was VBD B-VP +weak JJ B-ADJP +throughout IN B-PP +Friday NNP B-NP +'s POS B-NP +trading NN I-NP +, , O +however RB B-ADVP +, , O +on IN B-PP +what WP B-NP +dealers NNS B-NP +attributed VBD B-VP +to TO B-PP +generally RB B-NP +thin JJ I-NP +interest NN I-NP +ahead RB B-ADVP +of IN B-PP +the DT B-NP +weekend NN I-NP +and CC O +this DT B-NP +week NN I-NP +'s POS I-NP +potentially RB B-ADJP +important JJ I-ADJP +U.K. NNP B-NP +trade NN I-NP +figures NNS I-NP +for IN B-PP +September NNP B-NP +. . O + +The DT B-NP +FT-SE NNP I-NP +100 CD I-NP +largely RB B-ADVP +remained VBD B-VP +within IN B-PP +an DT B-NP +11-point JJ I-NP +range NN I-NP +establshed VBN B-VP +within IN B-PP +the DT B-NP +first JJ I-NP +hour NN I-NP +of IN B-PP +trading NN B-NP +before IN B-PP +it PRP B-NP +eased VBD B-VP +to TO B-PP +an DT B-NP +intraday JJ I-NP +low JJ I-NP +late RB B-ADVP +in IN B-PP +the DT B-NP +session NN I-NP +when WRB B-ADVP +a DT B-NP +flurry NN I-NP +of IN B-PP +program NN B-NP +selling VBG I-NP +pushed VBN B-VP +Wall NNP B-NP +Street NNP I-NP +lower JJR B-ADVP +. . O + +The DT B-NP +FT NNP I-NP +30-share JJ I-NP +index NN I-NP +closed VBD B-VP +11.0 CD B-NP +points NNS I-NP +lower JJR B-ADVP +at IN B-PP +1761.0 CD B-NP +. . O + +Volume NN B-NP +was VBD B-VP +extremely RB B-ADJP +thin JJ I-ADJP +at IN B-PP +351.3 CD B-NP +million CD I-NP +shares NNS I-NP +, , O +the DT B-NP +lightest JJS I-NP +volume NN I-NP +of IN B-PP +the DT B-NP +week NN I-NP +and CC O +modestly RB B-ADVP +under IN B-PP +Thursday NNP B-NP +'s POS B-NP +387.4 CD I-NP +million CD I-NP +shares NNS I-NP +. . O + +Dealers NNS B-NP +said VBD B-VP +the DT B-NP +day NN I-NP +'s POS B-NP +action NN I-NP +was VBD B-VP +featureless JJ B-ADJP +outside IN B-PP +some DT B-NP +response NN I-NP +to TO B-PP +sterling NN B-NP +'s POS B-NP +early JJ I-NP +weakness NN I-NP +against IN B-PP +the DT B-NP +mark NN I-NP +, , O +and CC O +fears NNS B-NP +that IN B-SBAR +Wall NNP B-NP +Street NNP I-NP +might MD B-VP +open RB I-VP +lower JJR B-ADVP +after IN B-PP +its PRP$ B-NP +strong JJ I-NP +leap NN I-NP +forward RB B-ADVP +Thursday NNP B-NP +. . O + +They PRP B-NP +added VBD B-VP +that IN B-SBAR +market-makers NNS B-NP +were VBD B-VP +largely RB I-VP +sidelined VBN I-VP +after IN B-PP +aggressively RB B-VP +supporting VBG I-VP +the DT B-NP +market NN I-NP +Thursday NNP B-NP +in IN B-PP +their PRP$ B-NP +quest NN I-NP +to TO B-VP +cover VB I-VP +internal JJ B-NP +shortages NNS I-NP +of IN B-PP +FT-SE NNP B-NP +100 CD I-NP +shares NNS I-NP +. . O + +Interest NN B-NP +may MD B-VP +remain VB I-VP +limited JJ B-ADJP +into IN B-PP +tomorrow NN B-NP +'s POS B-NP +U.K. NNP I-NP +trade NN I-NP +figures NNS I-NP +, , O +which WDT B-NP +the DT B-NP +market NN I-NP +will MD B-VP +be VB I-VP +watching VBG I-VP +closely RB B-ADVP +to TO B-VP +see VB I-VP +if IN B-SBAR +there EX B-NP +is VBZ B-VP +any DT B-NP +improvement NN I-NP +after IN B-PP +disappointing JJ B-NP +numbers NNS I-NP +in IN B-PP +the DT B-NP +previous JJ I-NP +two CD I-NP +months NNS I-NP +. . O + +The DT B-NP +key JJ I-NP +corporate JJ I-NP +news NN I-NP +of IN B-PP +the DT B-NP +day NN I-NP +was VBD B-VP +that IN B-SBAR +British JJ B-NP +Airways NNPS I-NP +decided VBD B-VP +to TO I-VP +withdraw VB I-VP +from IN B-PP +a DT B-NP +management-led JJ I-NP +bid NN I-NP +for IN B-PP +UAL NNP B-NP +Corp. NNP I-NP +, , O +the DT B-NP +parent NN I-NP +of IN B-PP +United NNP B-NP +Airlines NNPS I-NP +. . O + +British JJ B-NP +Airways NNPS I-NP +rose VBD B-VP +initially RB B-ADVP +after IN B-PP +announcing VBG B-VP +its PRP$ B-NP +withdrawal NN I-NP +from IN B-PP +the DT B-NP +UAL NNP I-NP +deal NN I-NP +. . O + +Dealers NNS B-NP +said VBD B-VP +they PRP B-NP +viewed VBD B-VP +the DT O +initial JJ O +# # O +390-million CD O +-LRB- ( O +$ $ B-ADJP +622 CD O +million CD O +-RRB- ) O +outlay NN B-NP +for IN B-PP +a DT B-NP +15 CD I-NP +% NN I-NP +stake NN I-NP +in IN B-PP +the DT B-NP +airline NN I-NP +as IN B-PP +a DT B-NP +bit NN I-NP +much JJ I-NP +. . O + +Its PRP$ B-NP +shares NNS I-NP +slid VBD B-VP +in IN B-PP +late JJ B-NP +dealings NNS I-NP +to TO B-VP +close VB I-VP +a DT B-NP +penny NN I-NP +per IN B-PP +share NN B-NP +lower JJR B-ADVP +at IN B-PP +197 CD B-NP +pence NN I-NP +. . O + +The DT B-NP +airline NN I-NP +was VBD B-VP +the DT B-NP +most RBS I-NP +active JJ I-NP +FT-SE NNP I-NP +100 CD I-NP +at IN B-PP +8.2 CD B-NP +million CD I-NP +shares NNS I-NP +traded VBN B-VP +. . O + +The DT B-NP +next JJ I-NP +most RBS I-NP +active JJ I-NP +top-tier JJ I-NP +stock NN I-NP +was VBD B-VP +B.A.T NNP B-NP +Industries NNPS I-NP +, , O +the DT B-NP +target NN I-NP +of IN B-PP +Sir NNP B-NP +James NNP I-NP +Goldsmith NNP I-NP +'s POS B-NP +# # B-ADJP +13.4 CD O +billion CD O +bid NN B-NP +. . O + +The DT B-NP +company NN I-NP +gained VBD B-VP +shareholder NN B-NP +approval NN I-NP +Thursday NNP B-NP +to TO B-VP +restructure VB I-VP +in IN B-PP +a DT B-NP +bid NN I-NP +to TO B-VP +fend VB I-VP +off IN B-PRT +the DT B-NP +hostile JJ I-NP +takeover NN I-NP +. . O + +Sir NNP B-NP +James NNP I-NP +said VBD B-VP +Thursday NNP B-NP +night NN I-NP +that IN B-SBAR +his PRP$ B-NP +plans NNS I-NP +for IN B-PP +the DT B-NP +takeover NN I-NP +had VBD B-VP +n't RB I-VP +changed VBN I-VP +. . O + +B.A.T NNP B-NP +ended VBD B-VP +the DT B-NP +day NN I-NP +at IN B-PP +778 CD B-NP +, , O +down JJ B-ADVP +5 NN B-NP +, , O +on IN B-PP +turnover NN B-NP +of IN B-PP +7.5 CD B-NP +million CD I-NP +shares NNS I-NP +. . O + +Dealers NNS B-NP +said VBD B-VP +it PRP B-NP +was VBD B-VP +hit VBN I-VP +by IN B-PP +some DT B-NP +profit-taking NN I-NP +after IN B-PP +gains NNS B-NP +since IN B-PP +mid-week NN B-NP +. . O + +In IN B-PP +other JJ B-NP +active JJ I-NP +shares NNS I-NP +, , O +Trusthouse NNP B-NP +Forte NNP I-NP +shed VB B-VP +10 CD B-NP +to TO B-PP +294 CD B-NP +on IN B-PP +volume NN B-NP +of IN B-PP +6.4 CD B-NP +million CD I-NP +shares NNS I-NP +after IN B-PP +a DT B-NP +Barclays NNP I-NP +De NNP I-NP +Zoete NNP I-NP +Wedd NNP I-NP +downgrading NN I-NP +, , O +while IN B-SBAR +Hillsdown NNP B-NP +Holdings NNP I-NP +, , O +a DT B-NP +food NN I-NP +products NNS I-NP +concern VBP I-NP +, , O +was VBD B-VP +boosted VBN I-VP +2 CD B-NP +to TO B-PP +271 CD B-NP +after IN O +it PRP B-NP +disclosed VBD B-VP +it PRP B-NP +would MD B-VP +seek VB I-VP +shareholder NN B-NP +approval NN I-NP +to TO B-VP +begin VB I-VP +share NN B-NP +repurchases NNS I-NP +. . O + +Elsewhere RB B-ADVP +in IN B-PP +Europe NNP B-NP +, , O +share NN B-NP +prices NNS I-NP +closed VBD B-VP +higher JJR B-ADVP +in IN B-PP +Stockholm NNP B-NP +, , I-NP +Brussels NNP I-NP +and CC I-NP +Milan NNP I-NP +. . O + +Prices NNS B-NP +were VBD B-VP +lower JJR B-ADJP +in IN B-PP +Frankfurt NNP B-NP +, , I-NP +Zurich NNP I-NP +, , I-NP +Paris NNP I-NP +and CC I-NP +Amsterdam NNP I-NP +. . O + +South JJ B-NP +African JJ I-NP +gold NN I-NP +stocks NNS I-NP +closed VBD B-VP +moderately RB B-ADVP +lower JJR I-ADVP +. . O + +Share NN B-NP +prices NNS I-NP +closed VBD B-VP +higher JJR B-ADVP +in IN B-PP +Sydney NNP B-NP +, , O +Taipei NNP B-NP +, , O +Wellington NNP B-NP +, , O +Manila NNP B-NP +, , O +Hong NNP B-NP +Kong NNP I-NP +and CC O +Singapore NNP B-NP +and CC O +were VBD B-VP +lower JJR B-ADJP +in IN B-PP +Seoul NNP B-NP +. . O + +Here RB B-ADVP +are VBP B-VP +price NN B-NP +trends NNS I-NP +on IN B-PP +the DT B-NP +world NN I-NP +'s POS B-NP +major JJ I-NP +stock NN I-NP +markets NNS I-NP +, , O +as IN B-SBAR +calculated VBN B-VP +by IN B-PP +Morgan NNP B-NP +Stanley NNP I-NP +Capital NNP I-NP +International NNP I-NP +Perspective NNP I-NP +, , O +Geneva NNP B-NP +. . O + +To TO B-VP +make VB I-VP +them PRP B-NP +directly RB B-ADJP +comparable JJ I-ADJP +, , O +each DT B-NP +index NN I-NP +is VBZ B-VP +based VBN I-VP +on IN B-PP +the DT B-NP +close NN I-NP +of IN B-PP +1969 CD B-NP +equaling VBG B-VP +100 CD B-NP +. . O + +The DT B-NP +percentage NN I-NP +change NN I-NP +is VBZ B-VP +since IN B-PP +year-end NN B-NP +. . O + +The DT B-NP +U.S. NNP I-NP +is VBZ B-VP +required VBN I-VP +to TO I-VP +notify VB I-VP +foreign JJ B-NP +dictators NNS I-NP +if IN B-SBAR +it PRP B-NP +knows VBZ B-VP +of IN B-PP +coup NN B-NP +plans NNS I-NP +likely JJ B-ADJP +to TO B-VP +endanger VB I-VP +their PRP$ B-NP +lives NNS I-NP +, , O +government NN B-NP +officials NNS I-NP +said VBD B-VP +. . O + +The DT B-NP +notification NN I-NP +policy NN I-NP +was VBD B-VP +part NN B-NP +of IN B-PP +a DT B-NP +set NN I-NP +of IN B-PP +guidelines NNS B-NP +on IN B-PP +handling NN B-VP +coups NNS B-NP +outlined VBN B-VP +in IN B-PP +a DT B-NP +secret JJ I-NP +1988 CD I-NP +exchange NN I-NP +of IN B-PP +letters NNS B-NP +between IN B-PP +the DT B-NP +Reagan NNP I-NP +administration NN I-NP +and CC O +the DT B-NP +Senate NNP I-NP +Intelligence NNP I-NP +Committee NNP I-NP +. . O + +The DT B-NP +existence NN I-NP +of IN B-PP +the DT B-NP +guidelines NNS I-NP +has VBZ B-VP +become VBN I-VP +known VBN I-VP +since IN B-SBAR +President NNP B-NP +Bush NNP I-NP +disclosed VBD B-VP +them PRP B-NP +privately RB B-ADVP +to TO B-PP +seven CD B-NP +Republican NNP I-NP +senators NNS I-NP +at IN B-PP +a DT B-NP +White NNP I-NP +House NNP I-NP +meeting NN I-NP +last JJ B-NP +Monday NNP I-NP +. . O + +Officials NNS B-NP +familiar JJ B-ADJP +with IN B-PP +the DT B-NP +meeting NN I-NP +said VBD B-VP +Mr. NNP B-NP +Bush NNP I-NP +cited VBD B-VP +the DT B-NP +policy NN I-NP +as IN B-PP +an DT B-NP +example NN I-NP +of IN B-PP +the DT B-NP +sort NN I-NP +of IN B-PP +congressional JJ B-NP +requirements NNS I-NP +the DT B-NP +administration NN I-NP +contends VBZ B-VP +contribute VB B-VP +to TO B-PP +the DT B-NP +failure NN I-NP +of IN B-PP +such JJ B-NP +covert JJ I-NP +actions NNS I-NP +as IN B-PP +this DT B-NP +month NN I-NP +'s POS B-NP +futile JJ I-NP +effort NN I-NP +to TO B-VP +oust VB I-VP +Panamanian JJ B-NP +dictator NN I-NP +Manuel NNP I-NP +Noriega NNP I-NP +. . O + +According VBG B-PP +to TO B-PP +the DT B-NP +officials NNS I-NP +, , O +Mr. NNP B-NP +Bush NNP I-NP +even RB B-ADVP +read VB B-VP +to TO B-PP +the DT B-NP +senators NNS I-NP +selections NNS B-NP +from IN B-PP +a DT B-NP +highly RB I-NP +classified VBN I-NP +letter NN I-NP +from IN B-PP +the DT B-NP +committee NN I-NP +to TO B-PP +the DT B-NP +White NNP I-NP +House NNP I-NP +discussing VBG B-VP +the DT B-NP +guidelines NNS I-NP +. . O + +They PRP B-NP +said VBD B-VP +the DT B-NP +president NN I-NP +conceded VBD B-VP +the DT B-NP +notification NN I-NP +requirement NN I-NP +did VBD B-VP +n't RB I-VP +affect VB I-VP +his PRP$ B-NP +decision NN I-NP +to TO B-VP +lend VB I-VP +only RB B-NP +minor JJ I-NP +support NN I-NP +to TO B-PP +this DT B-NP +month NN I-NP +'s POS B-NP +Panama NNP I-NP +coup NN I-NP +effort NN I-NP +. . O + +No DT B-NP +notification NN I-NP +was VBD B-VP +ever RB I-VP +considered VBN I-VP +, , O +officials NNS B-NP +said VBD B-VP +, , O +apparently RB B-ADVP +because IN B-SBAR +the DT B-NP +U.S. NNP I-NP +did VBD B-VP +n't RB I-VP +think VB I-VP +the DT B-NP +coup NN I-NP +plotters NNS I-NP +intended VBN B-VP +to TO I-VP +kill VB I-VP +Mr. NNP B-NP +Noriega NNP I-NP +, , O +but CC O +merely RB B-VP +sought VBD I-VP +to TO I-VP +imprison VB I-VP +him PRP B-NP +. . O + +What WP B-NP +'s VBZ B-VP +more JJR B-NP +, , O +both DT B-NP +administration NN B-NP +and CC O +congressional JJ B-NP +officials NNS I-NP +hint VBP B-VP +that IN B-SBAR +the DT B-NP +notification NN I-NP +requirement NN I-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +dropped VBN I-VP +from IN B-PP +the DT B-NP +guidelines NNS I-NP +on IN B-PP +coup NN B-NP +attempts NNS I-NP +that WDT B-NP +are VBP B-VP +being VBG I-VP +rewritten VBN I-VP +by IN B-PP +the DT B-NP +panel NN I-NP +and CC O +the DT B-NP +White NNP I-NP +House NNP I-NP +. . O + +The DT B-NP +rewriting VBG I-NP +was VBD B-VP +launched VBN I-VP +at IN B-PP +a DT B-NP +meeting NN I-NP +between IN B-PP +Mr. NNP B-NP +Bush NNP I-NP +and CC O +intelligence NN B-NP +committee NN I-NP +leaders NNS I-NP +Oct. NNP B-NP +12 CD I-NP +, , O +a DT B-NP +few JJ I-NP +days NNS I-NP +before IN B-PP +the DT B-NP +meeting NN I-NP +at IN B-PP +which WDT B-NP +the DT B-NP +president NN I-NP +complained VBD B-VP +about IN B-PP +the DT B-NP +rules NNS I-NP +. . O + +However RB B-ADVP +, , O +the DT B-NP +disclosure NN I-NP +of IN B-PP +the DT B-NP +guidelines NNS I-NP +, , O +first JJ B-VP +reported VBD I-VP +last JJ B-NP +night NN I-NP +by IN B-PP +NBC NNP B-NP +News NNP I-NP +, , O +is VBZ B-VP +already RB I-VP +being VBG I-VP +interpreted VBN I-VP +on IN B-PP +Capitol NNP B-NP +Hill NNP I-NP +as IN B-PP +an DT B-NP +unfair JJ I-NP +effort NN I-NP +to TO B-VP +pressure VB I-VP +Congress NNP B-NP +. . O + +It PRP B-NP +has VBZ B-VP +reopened VBN I-VP +the DT B-NP +bitter JJ I-NP +wrangling NN I-NP +between IN B-PP +the DT B-NP +White NNP I-NP +House NNP I-NP +and CC O +Congress NNP B-NP +over IN B-PP +who WP B-NP +is VBZ B-VP +responsible JJ B-ADJP +for IN B-PP +the DT B-NP +failure NN I-NP +to TO B-VP +oust VB I-VP +Mr. NNP B-NP +Noriega NNP I-NP +and CC B-PP +, , O +more RBR B-ADVP +broadly RB I-ADVP +, , O +for IN B-PP +difficulties NNS B-NP +in IN B-PP +carrying VBG B-VP +out RP B-PRT +covert JJ B-NP +activities NNS I-NP +abroad RB B-ADVP +. . O + +A DT B-NP +statement NN I-NP +issued VBN B-VP +by IN B-PP +the DT B-NP +office NN I-NP +of IN B-PP +the DT B-NP +committee NN I-NP +chairman NN I-NP +, , O +Sen. NNP B-NP +David NNP I-NP +Boren NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Okla. NNP B-NP +-RRB- ) O +, , O +charged VBN B-VP +that IN B-SBAR +the DT B-NP +disclosure NN I-NP +is VBZ B-VP +part NN B-NP +of IN B-PP +a DT B-NP +continuing VBG I-NP +effort NN I-NP +to TO B-VP +shift VB I-VP +the DT B-NP +criticism NN I-NP +for IN B-PP +the DT B-NP +failure NN I-NP +of IN B-PP +the DT B-NP +recent JJ I-NP +coup NN I-NP +attempt NN I-NP +in IN B-PP +Panama NNP B-NP +. . O + +The DT B-NP +statement NN I-NP +added VBD B-VP +, , O +`` `` O +Someone NN B-NP +has VBZ B-VP +regrettably RB I-VP +chosen VBN I-VP +to TO I-VP +selectively RB I-VP +summarize VB I-VP +portions NNS B-NP +of IN B-PP +highly RB B-NP +classified VBN I-NP +correspondence NN I-NP +between IN B-PP +the DT B-NP +two CD I-NP +branches NNS I-NP +of IN B-PP +government NN B-NP +. . O + +Not RB B-CONJP +only RB I-CONJP +does VBZ O +this DT B-NP +come JJ B-VP +close RB B-ADJP +to TO B-PP +a DT B-NP +violation NN I-NP +of IN B-PP +law NN B-NP +, , O +it PRP B-NP +violates VBZ B-VP +the DT B-NP +trust NN I-NP +we PRP B-NP +have VBP B-VP +all DT O +worked VBN B-VP +to TO B-VP +develop VB I-VP +. . O +'' '' O + +Sen. NNP B-NP +Boren NNP I-NP +said VBD B-VP +, , O +`` `` O +It PRP B-NP +'s VBZ B-VP +time NN B-NP +to TO B-VP +stop VB I-VP +bickering NN I-VP +and CC O +work NN B-VP +together RB B-ADVP +to TO B-VP +develop VB I-VP +a DT B-NP +clear JJ I-NP +and CC I-NP +appropriate JJ I-NP +policy NN I-NP +to TO B-VP +help VB I-VP +the DT B-NP +country NN I-NP +in IN B-PP +the DT B-NP +future NN I-NP +. . O + +I PRP B-NP +'ve VBP B-VP +invited VBN I-VP +the DT B-NP +president NN I-NP +to TO B-VP +send VB I-VP +his PRP$ B-NP +suggestions NNS I-NP +to TO B-PP +the DT B-NP +committee NN I-NP +. . O +'' '' O + +Republican NNP B-NP +Sen. NNP I-NP +William NNP I-NP +Cohen NNP I-NP +of IN B-PP +Maine NNP B-NP +, , O +the DT B-NP +panel NN I-NP +'s POS B-NP +vice NN I-NP +chairman NN I-NP +, , O +said VBD B-VP +of IN B-PP +the DT B-NP +disclosure NN I-NP +that IN B-SBAR +`` `` O +a DT B-NP +text NN I-NP +torn VBN B-VP +out IN B-ADVP +of IN B-PP +context NN B-NP +is VBZ B-VP +a DT B-NP +pretext NN I-NP +, , O +and CC O +it PRP B-NP +is VBZ B-VP +unfair JJ B-ADJP +for IN B-SBAR +those DT B-NP +in NN B-PP +the DT B-NP +White NNP I-NP +House NNP I-NP +who WP B-NP +are VBP B-VP +leaking VBG I-VP +to TO B-VP +present VB I-VP +the DT B-NP +evidence NN I-NP +in IN B-PP +a DT B-NP +selective JJ I-NP +fashion NN I-NP +. . O +'' '' O + +Sen. NNP B-NP +Boren NNP I-NP +said VBD B-VP +the DT B-NP +committee NN I-NP +could MD B-VP +n't RB I-VP +defend VB I-VP +itself PRP B-NP +by IN B-PP +making VBG B-VP +the DT B-NP +documents NNS I-NP +public JJ B-ADJP +because IN B-SBAR +that DT B-NP +would MD B-VP +violate VB I-VP +classification NN B-NP +rules NNS I-NP +. . O + +But CC O +the DT B-NP +chairman NN I-NP +and CC O +other JJ B-NP +committee NN I-NP +members NNS I-NP +stressed VBD B-VP +that IN B-SBAR +the DT B-NP +notification NN I-NP +guideline NN I-NP +was VBD B-VP +n't RB I-VP +imposed VBN I-VP +on IN B-PP +the DT B-NP +White NNP I-NP +House NNP I-NP +by IN B-PP +a DT B-NP +meddling VBG I-NP +Congress NNP I-NP +. . O + +Instead RB B-ADVP +, , O +both DT B-NP +congressional JJ I-NP +and CC I-NP +administration NN I-NP +officials NNS I-NP +agreed VBD B-VP +, , O +it PRP B-NP +grew VBD B-VP +out RP B-PP +of IN B-PP +talks NNS B-NP +about IN B-PP +coup-planning NN B-NP +in IN B-PP +Panama NNP B-NP +that WDT B-NP +were VBD B-VP +initiated VBN I-VP +by IN B-PP +the DT B-NP +administration NN I-NP +in IN B-PP +July NNP B-NP +1988 CD I-NP +and CC O +stretched VBD B-VP +into IN B-PP +last JJ B-NP +October NNP I-NP +. . O + +The DT B-NP +guideline NN I-NP +was VBD B-VP +n't RB O +a DT B-NP +law NN I-NP +, , O +but CC O +a DT B-NP +joint JJ I-NP +interpretation NN I-NP +of IN B-PP +how WRB B-ADVP +the DT B-NP +U.S. NNP I-NP +might MD B-VP +operate VB I-VP +during IN B-PP +foreign JJ B-NP +coups NNS I-NP +in IN B-PP +light NN B-NP +of IN B-PP +the DT B-NP +longstanding JJ I-NP +presidential JJ I-NP +order NN I-NP +banning VBG B-VP +a DT B-NP +U.S. NNP I-NP +role NN I-NP +in IN B-PP +assassinations NNS B-NP +. . O + +In IN B-PP +fact NN B-NP +, , O +yesterday NN B-NP +the DT B-NP +administration NN I-NP +and CC O +Congress NNP B-NP +were VBD B-VP +still RB I-VP +differing VBG I-VP +on IN B-PP +what WP B-NP +had VBD B-VP +been VBN I-VP +agreed VBN I-VP +to TO B-PP +. . O + +One CD B-NP +administration NN I-NP +official NN I-NP +said VBD B-VP +notification NN B-NP +was VBD B-VP +required VBN I-VP +even RB B-SBAR +if IN I-SBAR +the DT B-NP +U.S. NNP I-NP +`` `` O +gets VBZ B-VP +wind NN B-NP +'' '' O +of IN B-PP +somebody NN B-NP +else RB B-ADJP +'s POS B-NP +coup NN I-NP +plans NNS I-NP +that WDT B-NP +seem VBP B-VP +likely JJ B-ADJP +to TO B-VP +endanger VB I-VP +a DT B-NP +dictator NN I-NP +'s POS B-NP +life NN I-NP +. . O + +But CC O +a DT B-NP +congressional JJ I-NP +source NN I-NP +close RB B-ADJP +to TO B-PP +the DT B-NP +panel NN I-NP +said VBD B-VP +the DT B-NP +rule NN I-NP +only RB B-ADVP +covered VBD B-VP +coup NN B-NP +plans NNS I-NP +directly RB B-VP +involving VBG I-VP +the DT B-NP +U.S. NNP I-NP +. . O + +Although IN B-SBAR +the DT B-NP +notification NN I-NP +guideline NN I-NP +was VBD B-VP +n't RB I-VP +carried VBN I-VP +out IN B-PRT +in IN B-PP +this DT B-NP +month NN I-NP +'s POS B-NP +coup NN I-NP +attempt NN I-NP +, , O +some DT B-NP +administration NN I-NP +officials NNS I-NP +argue VBP B-VP +that IN B-SBAR +it PRP B-NP +may MD B-VP +have VB I-VP +led VBN I-VP +to TO B-PP +hesitation NN B-NP +and CC I-NP +uncertainty NN I-NP +on IN B-PP +the DT B-NP +part NN I-NP +of IN B-PP +U.S. NNP B-NP +intelligence NN I-NP +and CC O +military JJ B-NP +operatives NNS I-NP +in IN B-PP +Panama NNP B-NP +. . O + +One CD B-NP +senior JJ I-NP +administration NN I-NP +official NN I-NP +called VBD B-VP +the DT B-NP +guideline NN I-NP +`` `` O +outrageous JJ B-ADJP +'' '' O +and CC O +said VBD B-VP +it PRP B-NP +could MD B-VP +make VB I-VP +U.S. NNP B-NP +operatives NNS I-NP +reluctant JJ B-ADJP +to TO B-VP +even RB I-VP +listen VB I-VP +to TO B-PP +coup NN B-NP +plans NNS I-NP +for IN B-PP +fear NN B-NP +they PRP B-NP +may MD B-VP +get VB I-VP +into IN B-PP +legal JJ B-NP +trouble NN I-NP +. . O + +The DT B-NP +issue NN I-NP +came VBD B-VP +to TO B-PP +a DT B-NP +head NN I-NP +last JJ B-NP +year NN I-NP +, , O +officials NNS B-NP +recalled VBD B-VP +, , O +partly RB B-ADVP +because IN B-SBAR +the DT B-NP +Reagan NNP I-NP +administration NN I-NP +had VBD B-VP +sought VBN I-VP +unsuccessfully RB I-VP +to TO I-VP +win VB I-VP +committee NN B-NP +approval NN I-NP +of IN B-PP +funding NN B-NP +for IN B-PP +new JJ B-NP +Panama NNP I-NP +coup NN I-NP +efforts NNS I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +both DT B-NP +administration NN I-NP +and CC I-NP +congressional JJ I-NP +officials NNS I-NP +said VBD B-VP +the DT B-NP +need NN I-NP +for IN B-PP +guidelines NNS B-NP +on IN B-PP +coups NNS B-NP +and CC I-NP +assassinations NNS I-NP +was VBD B-VP +partly RB I-VP +spurred VBN I-VP +by IN B-PP +a DT B-NP +White NNP I-NP +House NNP I-NP +desire NN I-NP +to TO B-VP +avoid VB I-VP +nasty JJ B-NP +overseas JJ I-NP +surprises NNS I-NP +during IN B-PP +the DT B-NP +election NN I-NP +campaign NN I-NP +. . O + +Though IN B-SBAR +the DT B-NP +assassination NN I-NP +ban NN I-NP +is VBZ B-VP +a DT B-NP +White NNP I-NP +House NNP I-NP +order NN I-NP +that IN B-NP +Congress NNP B-NP +never RB B-ADVP +voted VBD B-VP +on IN B-PP +, , O +the DT B-NP +intelligence NN I-NP +committees NNS I-NP +can MD B-VP +exercise VB I-VP +influence NN B-NP +over IN B-PP +its PRP$ B-NP +interpretation NN I-NP +. . O + +Last JJ B-NP +week NN I-NP +, , O +Central NNP B-NP +Intelligence NNP I-NP +Agency NNP I-NP +Director NNP I-NP +William NNP I-NP +Webster NNP I-NP +publicly RB B-ADVP +called VBD B-VP +on IN B-PP +Congress NNP B-NP +to TO B-VP +provide VB I-VP +new JJ B-NP +interpretations NNS I-NP +of IN B-PP +the DT B-NP +assassination NN I-NP +order NN I-NP +that WDT B-NP +would MD B-VP +permit VB I-VP +the DT B-NP +U.S. NNP I-NP +more JJR B-NP +freedom NN I-NP +to TO B-VP +act VB I-VP +in IN B-PP +coups NNS B-NP +. . O + +The DT B-NP +administration NN I-NP +has VBZ B-VP +reacted VBN I-VP +to TO B-PP +criticism NN B-NP +that IN B-SBAR +it PRP B-NP +mishandled VBD B-VP +the DT B-NP +latest JJS I-NP +coup NN I-NP +attempt NN I-NP +by IN B-PP +seeking VBG B-VP +to TO I-VP +blame VB I-VP +Congress NNP B-NP +for IN B-PP +restrictions NNS B-NP +the DT B-NP +White NNP I-NP +House NNP I-NP +said VBD B-VP +have VBP B-VP +hampered VBN I-VP +its PRP$ B-NP +freedom NN I-NP +of IN B-PP +action NN B-NP +. . O + +However RB B-ADVP +, , O +last JJ B-NP +week NN I-NP +Mr. NNP B-NP +Webster NNP I-NP +'s POS B-NP +two CD I-NP +top JJ I-NP +CIA NNP I-NP +deputies NNS I-NP +said VBD B-VP +congressional JJ B-NP +curbs NNS I-NP +had VBD B-VP +n't RB I-VP +hampered VBN I-VP +the DT B-NP +spy NN I-NP +agency NN I-NP +'s POS B-NP +role NN I-NP +in IN B-PP +the DT B-NP +coup NN I-NP +attempt NN I-NP +in IN B-PP +Panama NNP B-NP +. . O + +Nevertheless RB B-ADVP +, , O +the DT B-NP +administration NN I-NP +'s POS B-NP +criticisms NNS I-NP +appeared VBD B-VP +to TO I-VP +have VB I-VP +made VBN I-VP +some DT B-NP +headway NN I-NP +with IN B-PP +Sens. NNP B-NP +Boren NNP I-NP +and CC I-NP +Cohen NNP I-NP +after IN B-PP +their PRP$ B-NP +Oct. NNP I-NP +12 CD I-NP +meeting NN I-NP +with IN B-PP +the DT B-NP +president NN I-NP +. . O + +The DT B-NP +three CD I-NP +men NNS I-NP +agreed VBD B-VP +to TO I-VP +rewrite VB I-VP +the DT B-NP +guidelines NNS I-NP +, , O +without IN B-PP +changing VBG B-VP +the DT B-NP +basic JJ I-NP +assassination NN I-NP +ban NN I-NP +, , O +to TO B-VP +clear VB I-VP +up IN B-PRT +any DT B-NP +ambiguities NNS I-NP +that WDT B-NP +may MD B-VP +have VB I-VP +hampered VBN I-VP +U.S. NNP B-NP +encouragement NN I-NP +of IN B-PP +coups NNS B-NP +against IN B-PP +anti-American JJ B-NP +leaders NNS I-NP +. . O + +The DT B-NP +new JJ I-NP +argument NN I-NP +over IN B-PP +the DT B-NP +notification NN I-NP +guideline NN I-NP +, , O +however RB B-ADVP +, , O +could MD B-VP +sour VB I-VP +any DT B-NP +atmosphere NN I-NP +of IN B-PP +cooperation NN B-NP +that WDT B-NP +existed VBD B-VP +. . O + +Gerald NNP B-NP +F. NNP I-NP +Seib NNP I-NP +contributed VBD B-VP +to TO B-PP +this DT B-NP +article NN I-NP +. . O + +-LRB- ( O +During IN B-PP +its PRP$ B-NP +centennial NN I-NP +year NN I-NP +, , O +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +will MD B-VP +report VB I-VP +events NNS B-NP +of IN B-PP +the DT B-NP +past JJ I-NP +century NN I-NP +that WDT B-NP +stand VBP B-VP +as IN B-PP +milestones NNS B-NP +of IN B-PP +American JJ B-NP +business NN I-NP +history NN I-NP +. . O +-RRB- ) O + +MUTUAL JJ B-NP +FUNDS NNS I-NP +ARRIVED VBD B-VP +IN IN B-PP +THE DT B-NP +U.S. NNP I-NP +during IN B-PP +the DT B-NP +Roaring NNP I-NP +Twenties NNP I-NP +-LRB- ( O +they PRP B-NP +had VBD B-VP +been VBN I-VP +in IN B-PP +Britain NNP B-NP +for IN B-PP +a DT B-NP +century NN I-NP +-RRB- ) O +, , O +but CC O +they PRP B-NP +did VBD B-VP +n't RB I-VP +boom VB I-VP +until IN B-SBAR +the DT B-NP +money NN I-NP +market NN I-NP +fund NN I-NP +was VBD B-VP +created VBN I-VP +in IN B-PP +the DT B-NP +1970s NNS I-NP +. . O + +By IN B-PP +1980 CD B-NP +, , O +there EX B-NP +were VBD B-VP +more JJR B-NP +than IN I-NP +100 CD I-NP +such JJ I-NP +funds NNS I-NP +. . O + +Besides IN B-PP +creating VBG B-VP +a DT B-NP +vehicle NN I-NP +for IN B-PP +investors NNS B-NP +, , O +money NN B-NP +market NN I-NP +funds NNS I-NP +also RB B-ADVP +helped VBD B-VP +rewrite VB I-VP +banking NN B-NP +regulations NNS I-NP +. . O + +The DT B-NP +idea NN I-NP +was VBD B-VP +to TO B-VP +let VB I-VP +small JJ B-NP +investors NNS I-NP +, , O +the DT B-NP +backbone NN I-NP +of IN B-PP +the DT B-NP +fund NN I-NP +business NN I-NP +, , O +deal NN B-VP +in IN B-PP +the DT B-NP +money NN I-NP +market NN I-NP +'s POS B-NP +high JJ I-NP +short-term JJ I-NP +interest NN I-NP +rates NNS I-NP +. . O + +This DT B-NP +had VBD B-VP +been VBN I-VP +the DT B-NP +exclusive JJ I-NP +province NN I-NP +of IN B-PP +those DT B-NP +rich JJ B-ADJP +enough RB I-ADJP +to TO B-VP +use VB I-VP +six-figure JJ B-NP +sums NNS I-NP +to TO B-VP +get VB I-VP +income NN B-NP +that WDT B-NP +was VBD B-VP +figured VBN I-VP +beyond IN B-PP +the DT B-NP +third JJ I-NP +or CC I-NP +fourth JJ I-NP +decimal NN I-NP +place NN I-NP +. . O + +The DT B-NP +now-standard JJ I-NP +price NN I-NP +of IN B-PP +$ $ B-NP +1 CD I-NP +a DT B-NP +share NN I-NP +came VBD B-VP +about IN B-PRT +by IN B-PP +accident NN B-NP +. . O + +An DT B-NP +early JJ I-NP +fund NN I-NP +had VBD B-VP +filed VBN I-VP +a DT B-NP +registration NN I-NP +with IN B-PP +the DT B-NP +Securities NNP I-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +that WDT B-NP +included VBD B-VP +a DT B-NP +fixed VBN I-NP +$ $ I-NP +1 CD I-NP +price NN I-NP +. . O + +It PRP B-NP +arrived VBD B-VP +just RB B-ADVP +as IN B-SBAR +the DT B-NP +regulator NN I-NP +handling VBG B-VP +such JJ B-NP +operations NNS I-NP +was VBD B-VP +retiring VBG I-VP +. . O + +His PRP$ B-NP +successor NN I-NP +approved VBD B-VP +the DT B-NP +$ $ I-NP +1 CD I-NP +price NN I-NP +in IN B-PP +the DT B-NP +process NN I-NP +of IN B-PP +clearing VBG B-VP +the DT B-NP +backed-up JJ I-NP +papers NNS I-NP +on IN B-PP +his PRP$ B-NP +desk NN I-NP +. . O + +When WRB B-ADVP +Dreyfus NNP B-NP +started VBD B-VP +the DT B-NP +first JJ I-NP +advertising-backed JJ I-NP +retail JJ I-NP +fund NN I-NP +in IN B-PP +February NNP B-NP +1974 CD I-NP +, , O +it PRP B-NP +was VBD B-VP +priced VBN I-VP +at IN B-PP +$ $ B-NP +10 CD I-NP +a DT B-NP +share NN I-NP +-LRB- ( O +and CC O +reached VBN B-VP +$ $ B-NP +1 CD I-NP +billion CD I-NP +in IN B-PP +assets NNS B-NP +in IN B-PP +one CD B-NP +year NN I-NP +. . O +-RRB- ) O + +Dreyfus NNP B-NP +moved VBD B-VP +to TO B-PP +the DT B-NP +$ $ I-NP +1 CD I-NP +price NN I-NP +after IN B-SBAR +the DT B-NP +SEC NNP I-NP +set VBD B-VP +standards NNS B-NP +-- : O +an DT B-NP +average JJ I-NP +120-day JJ I-NP +maturity NN I-NP +of IN B-PP +high-grade JJ B-NP +paper NN I-NP +-- : O +that WDT B-NP +are VBP B-VP +still RB B-ADVP +the DT B-NP +rule NN I-NP +. . O + +Keeping VBG B-VP +the DT B-NP +listed VBN I-NP +price NN I-NP +at IN B-PP +a DT B-NP +dollar NN I-NP +is VBZ B-VP +primarily RB B-ADVP +a DT B-NP +convenience NN I-NP +. . O + +Actually RB B-ADVP +, , O +the DT B-NP +funds NNS I-NP +do VBP B-VP +fluctuate VB I-VP +, , O +but CC O +beyond IN B-PP +the DT B-NP +third JJ I-NP +decimal NN I-NP +place NN I-NP +. . O + +Rounding-off NN B-NP +keeps VBZ B-VP +them PRP B-NP +at IN B-PP +$ $ B-NP +1 CD I-NP +. . O + +Eventually RB B-ADVP +, , O +the DT B-NP +money NN I-NP +funds NNS I-NP +' POS B-NP +success NN I-NP +forced VBD B-VP +relaxation NN B-NP +of IN B-PP +curbs NNS B-NP +on IN B-PP +bank NN B-NP +interest NN I-NP +rates NNS I-NP +to TO B-VP +allow VB I-VP +banks NNS B-NP +to TO B-VP +offer VB I-VP +competing VBG B-NP +yields NNS I-NP +. . O + +The DT B-NP +new JJ I-NP +instrument NN I-NP +also RB B-ADVP +introduced VBD B-VP +many JJ B-NP +to TO B-PP +the DT B-NP +industry NN I-NP +-- : O +30 CD B-NP +% NN I-NP +of IN B-PP +fund NN B-NP +owners NNS I-NP +-LRB- ( O +there EX B-NP +are VBP B-VP +more JJR B-NP +than IN I-NP +54 CD I-NP +million CD I-NP +accounts NNS I-NP +-RRB- ) O +started VBD B-VP +with IN B-PP +a DT B-NP +money NN I-NP +fund NN I-NP +. . O + +Today NN B-NP +more JJR B-NP +than IN I-NP +470 CD I-NP +money NN I-NP +market NN I-NP +funds NNS I-NP +have VBP B-VP +total JJ B-NP +assets NNS I-NP +exceeding VBG B-VP +$ $ B-NP +350 CD I-NP +billion CD I-NP +. . O + +-LRB- ( O +The DT B-NP +companion NN I-NP +tax-exempt JJ I-NP +funds NNS I-NP +add VBP B-VP +$ $ B-NP +71 CD I-NP +billion CD I-NP +. . O +-RRB- ) O + +Dreyfus NNP B-NP +alone RB B-ADVP +has VBZ B-VP +seen VBN I-VP +its PRP$ B-NP +money NN I-NP +market NN I-NP +funds NNS I-NP +grow VBP B-VP +from IN B-PP +$ $ B-NP +1 CD I-NP +billion CD I-NP +in IN B-PP +1975 CD B-NP +to TO B-PP +closes VBZ B-NP +to TO I-NP +$ $ I-NP +15 CD I-NP +billion CD I-NP +today NN B-NP +. . O + +Procter NNP B-NP +& CC I-NP +Gamble NNP I-NP +Co. NNP I-NP +and CC O +Noxell NNP B-NP +Corp. NNP I-NP +said VBD B-VP +they PRP B-NP +received VBD B-VP +early JJ B-NP +termination NN I-NP +of IN B-PP +the DT B-NP +waiting VBG I-NP +period NN I-NP +under IN B-PP +the DT B-NP +Hart-Scott-Rodino NNP I-NP +Act NNP I-NP +regarding VBG B-PP +the DT B-NP +proposed VBN I-NP +$ $ I-NP +1.4 CD I-NP +billion CD I-NP +merger NN I-NP +of IN B-PP +Noxell NNP B-NP +into IN B-PP +P&G NNP B-NP +. . O + +Shareholders NNS B-NP +of IN B-PP +Noxell NNP B-NP +, , O +of IN B-PP +Hunt NNP B-NP +Valley NNP I-NP +, , O +Md. NNP B-NP +, , O +will MD B-VP +vote VB I-VP +on IN B-PP +the DT B-NP +merger NN I-NP +at IN B-PP +a DT B-NP +special JJ I-NP +meeting NN I-NP +on IN B-PP +Nov. NNP B-NP +30 CD I-NP +, , O +the DT B-NP +companies NNS I-NP +said VBD B-VP +. . O + +P&G NNP B-NP +, , O +Cincinnati NNP B-NP +, , O +agreed VBD B-VP +to TO I-VP +exchange VB I-VP +0.272 CD B-NP +share NN I-NP +of IN B-PP +its PRP$ B-NP +common JJ I-NP +stock NN I-NP +for IN B-PP +each DT B-NP +share NN I-NP +of IN B-PP +Noxell NNP B-NP +common JJ I-NP +and CC I-NP +Class NNP I-NP +B NNP I-NP +stock NN I-NP +, , O +a DT B-NP +total NN I-NP +of IN B-PP +about IN B-NP +11 CD I-NP +million CD I-NP +P&G NNP I-NP +shares NNS I-NP +. . O + +The DT B-NP +transaction NN I-NP +would MD B-VP +mark VB I-VP +the DT B-NP +entry NN I-NP +of IN B-PP +P&G NNP B-NP +into IN B-PP +cosmetics NNS B-NP +. . O + +The DT B-NP +company NN I-NP +already RB B-ADVP +markets VBZ B-VP +a DT B-NP +wide JJ I-NP +range NN I-NP +of IN B-PP +detergents NNS B-NP +, , I-NP +food NN I-NP +, , I-NP +household NN I-NP +and CC I-NP +health-care NN I-NP +products NNS I-NP +. . O + +Shareholders NNS B-NP +of IN B-PP +Messerschmitt-Boelkow-Blohm NNP B-NP +G.m.b NNP I-NP +. . I-NP +H. NNP I-NP +postponed VBD B-VP +their PRP$ B-NP +formal JJ I-NP +endorsement NN I-NP +of IN B-PP +a DT B-NP +merger NN I-NP +with IN B-PP +Daimler-Benz NNP B-NP +AG NNP I-NP +until IN B-PP +another DT B-NP +meeting NN I-NP +on IN B-PP +Nov. NNP B-NP +17 CD I-NP +. . O + +The DT B-NP +owners NNS I-NP +of IN B-PP +the DT B-NP +defense NN I-NP +and CC I-NP +aerospace NN I-NP +concern NN I-NP +, , O +which WDT B-NP +include VBP B-VP +three CD B-NP +regional JJ I-NP +states NNS I-NP +, , O +several JJ B-NP +industrial JJ I-NP +companies NNS I-NP +and CC O +banks NNS B-NP +, , O +met VBD B-VP +Friday NNP B-NP +to TO B-VP +discuss VB I-VP +the DT B-NP +final JJ I-NP +terms NNS I-NP +of IN B-PP +the DT B-NP +transaction NN I-NP +, , O +in IN B-PP +which WDT B-NP +Daimler-Benz NNP B-NP +will MD B-VP +acquire VB I-VP +50.01 CD B-NP +% NN I-NP +of IN B-PP + +But CC O +agreement NN B-NP +aparently RB B-ADVP +could MD B-VP +n't RB I-VP +be VB I-VP +reached VBN I-VP +because IN B-PP +of IN I-PP +opposition NN B-NP +from IN B-PP +the DT B-NP +states NNS I-NP +of IN B-PP +Hamburg NNP B-NP +and CC I-NP +Bremen NNP I-NP +, , O +which WDT B-NP +are VBP B-VP +demanding VBG I-VP +more JJR B-NP +influence NN I-NP +over IN B-PP +the DT B-NP +German NNP I-NP +Airbus NNP I-NP +operations NNS I-NP +and CC O +a DT B-NP +better JJR I-NP +guarantee NN I-NP +against IN B-PP +job NN B-NP +losses NNS I-NP +in IN B-PP +the DT B-NP +troubled JJ I-NP +Northern JJ I-NP +German JJ I-NP +region NN I-NP +. . O + +The DT B-NP +two CD I-NP +states NNS I-NP +and CC O +the DT B-NP +state NN I-NP +of IN B-PP +Bavaria NNP B-NP +still RB B-ADVP +hold VB B-VP +a DT B-NP +majority NN I-NP +in IN B-PP +MBB NNP B-NP +, , O +but CC O +their PRP$ B-NP +stake NN I-NP +will MD B-VP +fall VB I-VP +to TO B-PP +around IN B-NP +30 CD I-NP +% NN I-NP +after IN B-SBAR +Daimler-Benz NNP B-NP +acquires VBZ B-VP +its PRP$ B-NP +stake NN I-NP +in IN B-PP +the DT B-NP +concern NN I-NP +. . O + +Jeffrey NNP B-NP +E. NNP I-NP +Levin NNP I-NP +was VBD B-VP +named VBN I-VP +vice NN B-NP +president NN I-NP +and CC O +chief JJ B-NP +economist NN I-NP +of IN B-PP +this DT B-NP +commodity NN I-NP +futures NNS I-NP +and CC I-NP +options NNS I-NP +exchange VBP I-NP +. . O + +He PRP B-NP +had VBD B-VP +been VBN I-VP +associate JJ B-NP +professor NN I-NP +in IN B-PP +the DT B-NP +department NN I-NP +of IN B-PP +finance NN B-NP +at IN B-PP +Seton NNP B-NP +Hall NNP I-NP +University NNP I-NP +. . O + +SIERRA NNP B-NP +TUCSON NNP I-NP +Cos. NNP I-NP +said VBD B-VP +it PRP B-NP +completed VBD B-VP +its PRP$ B-NP +initial JJ I-NP +public JJ I-NP +offering NN I-NP +of IN B-PP +2.5 CD B-NP +million CD I-NP +common JJ I-NP +shares NNS I-NP +, , O +which WDT B-NP +raised VBD B-VP +$ $ B-NP +30 CD I-NP +million CD I-NP +. . O + +The DT B-NP +Tucson NNP I-NP +, , I-NP +Ariz. NNP I-NP +, , I-NP +operator NN I-NP +of IN B-PP +addiction-treatment JJ B-NP +centers NNS I-NP +said VBD B-VP +proceeds NNS B-NP +will MD B-VP +be VB I-VP +used VBN I-VP +for IN B-PP +expansion NN B-NP +, , O +to TO B-VP +pay VB I-VP +debt NN B-NP +and CC O +for IN B-PP +general JJ B-NP +corporate JJ I-NP +purposes NNS I-NP +. . O + +Oppenheimer NNP B-NP +& CC I-NP +Co. NNP I-NP +was VBD B-VP +the DT B-NP +lead NN I-NP +underwriter NN I-NP +. . O + +The DT B-NP +government NN I-NP +issues NNS B-VP +its PRP$ B-NP +first JJ I-NP +reading NN I-NP +on IN B-PP +third-quarter JJ B-NP +real JJ I-NP +gross JJ I-NP +national JJ I-NP +product NN I-NP +this DT B-NP +week NN I-NP +in IN B-PP +a DT B-NP +report NN I-NP +that WDT B-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +disclose VB I-VP +much RB B-NP +tamer JJR I-NP +inflation NN I-NP +. . O + +The DT B-NP +consensus NN I-NP +view NN I-NP +on IN B-PP +real JJ B-NP +GNP NNP I-NP +, , O +the DT B-NP +total JJ I-NP +value NN I-NP +of IN B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +output NN I-NP +of IN B-PP +goods NNS B-NP +and CC I-NP +services NNS I-NP +adjusted VBN B-VP +for IN B-PP +inflation NN B-NP +, , O +calls VBZ B-VP +for IN B-PP +a DT B-NP +2.3 CD I-NP +% NN I-NP +gain NN I-NP +, , O +down RB B-ADVP +from IN B-PP +the DT B-NP +second JJ I-NP +quarter NN I-NP +'s POS B-NP +2.5 CD I-NP +% NN I-NP +, , O +according VBG B-PP +to TO B-PP +MMS NNP B-NP +International NNP I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +McGraw-Hill NNP B-NP +Inc. NNP I-NP +, , O +New NNP B-NP +York NNP I-NP +. . O + +But CC O +inflation NN B-NP +, , O +as IN B-SBAR +measured VBN B-VP +by IN B-PP +the DT B-NP +GNP NNP I-NP +deflator NN I-NP +in IN B-PP +Thursday NNP B-NP +'s POS B-NP +report NN I-NP +, , O +is VBZ B-VP +expected VBN I-VP +to TO I-VP +rise VB I-VP +only RB B-NP +3.5 CD I-NP +% NN I-NP +, , O +down RB B-ADVP +from IN B-PP +4.6 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +second JJ I-NP +quarter NN I-NP +. . O + +`` `` O +Inflation NN B-NP +could MD B-VP +be VB I-VP +a DT B-NP +real JJ I-NP +surprise NN I-NP +, , O +'' '' O +said VBD B-VP +Samuel NNP B-NP +D. NNP I-NP +Kahan NNP I-NP +, , O +chief JJ B-NP +financial JJ I-NP +economist NN I-NP +at IN B-PP +Kleinwort NNP B-NP +Benson NNP I-NP +Government NNP I-NP +Securities NNP I-NP +Inc. NNP I-NP +, , O +in IN B-PP +Chicago NNP B-NP +. . O + +`` `` O +If IN B-SBAR +that DT B-NP +gets VBZ B-VP +people NNS B-NP +excited VBN B-ADJP +, , O +it PRP B-NP +could MD B-VP +serve VB I-VP +as IN B-PP +an DT B-NP +impetus NN I-NP +to TO B-PP +the DT B-NP +fixed-income NN I-NP +markets NNS I-NP +to TO B-VP +lower JJR I-VP +their PRP$ B-NP +rates NNS I-NP +, , O +'' '' O +he PRP B-NP +added VBD B-VP +. . O + +The DT B-NP +week NN I-NP +'s POS B-NP +other JJ I-NP +notable JJ I-NP +indicators NNS I-NP +include VBP B-VP +mid-October NNP B-NP +auto NN I-NP +sales NNS I-NP +, , O +September NNP B-NP +durable JJ I-NP +goods NNS I-NP +orders NNS I-NP +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +September NNP B-NP +personal JJ I-NP +income NN I-NP +, , O +personal JJ B-NP +consumption NN I-NP +and CC O +the DT B-NP +saving VBG I-NP +rate NN I-NP +. . O + +Most JJS B-NP +are VBP B-VP +expected VBN I-VP +to TO I-VP +fall VB I-VP +below IN B-PP +previous-month JJ B-NP +levels NNS I-NP +. . O + +Many JJ B-NP +economists NNS I-NP +see VBP B-VP +even RB B-NP +slower JJR I-NP +GNP NNP I-NP +growth NN I-NP +for IN B-PP +the DT B-NP +remainder NN I-NP +of IN B-PP +the DT B-NP +year NN I-NP +, , O +with IN B-PP +some DT B-NP +leaning VBG B-VP +more RBR B-ADVP +strongly RB I-ADVP +toward IN B-PP +a DT B-NP +possible JJ I-NP +recession NN I-NP +. . O + +In IN B-PP +addition NN B-NP +to TO B-PP +softer JJR B-NP +production NN I-NP +data NNS I-NP +, , O +weaker JJR B-NP +housing NN I-NP +starts VBZ I-NP +and CC O +lower JJR B-NP +corporate JJ I-NP +profits NNS I-NP +currently RB B-ADVP +in IN B-PP +evidence NN B-NP +, , O +some DT B-NP +analysts NNS I-NP +believe VBP B-VP +the DT B-NP +two CD I-NP +recent JJ I-NP +natural JJ I-NP +disasters NNS I-NP +-- : O +Hurricane NNP B-NP +Hugo NNP I-NP +and CC O +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +earthquake NN I-NP +-- : O +will MD B-VP +carry VB I-VP +economic JJ B-NP +ramifications NNS I-NP +in IN B-PP +the DT B-NP +fourth JJ I-NP +quarter NN I-NP +. . O + +The DT B-NP +recent JJ I-NP +one-day JJ I-NP +, , I-NP +190-point JJ I-NP +drop NN I-NP +in IN B-PP +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +seems VBZ B-VP +to TO I-VP +be VB I-VP +significant JJ B-ADJP +to TO B-PP +economists NNS B-NP +mainly RB B-ADVP +for IN B-PP +its PRP$ B-NP +tacit JJ I-NP +comment NN I-NP +on IN B-PP +the DT B-NP +poor JJ I-NP +quality NN I-NP +of IN B-PP +third-quarter JJ B-NP +profits NNS I-NP +now RB B-VP +being VBG I-VP +reported VBN I-VP +. . O + +`` `` O +The DT B-NP +stock NN I-NP +market NN I-NP +is VBZ B-VP +sick JJ B-ADJP +because IN B-SBAR +profits NNS B-NP +are VBP B-VP +crumbling VBG I-VP +, , O +'' '' O +says VBZ B-VP +Michael NNP B-NP +K. NNP I-NP +Evans NNP I-NP +, , O +president NN B-NP +of IN B-PP +Evans NNP B-NP +Economics NNP I-NP +Inc. NNP I-NP +, , O +Washington NNP B-NP +. . O + +The DT B-NP +economy NN I-NP +, , O +he PRP B-NP +noted VBD B-VP +, , O +moves VBZ B-VP +the DT B-NP +market NN I-NP +, , O +not RB B-ADVP +vice NN I-ADVP +versa RB I-ADVP +. . O + +On IN B-PP +the DT B-NP +other JJ I-NP +hand NN I-NP +, , O +Mr. NNP B-NP +Evans NNP I-NP +expects VBZ B-VP +the DT B-NP +hurricane NN I-NP +and CC O +the DT B-NP +earthquake NN I-NP +`` `` O +to TO B-VP +take VB I-VP +a DT B-NP +hunk NN I-NP +out IN B-PP +of IN B-PP +fourth-quarter JJ B-NP +GNP NNP I-NP +. . O +'' '' O + +His PRP$ B-NP +estimate NN I-NP +of IN B-PP +3.3 CD B-NP +% NN I-NP +for IN B-PP +third-quarter JJ B-NP +GNP NNP I-NP +is VBZ B-VP +higher JJR B-ADJP +than IN B-PP +the DT B-NP +consensus NN I-NP +largely RB B-ADVP +because IN B-SBAR +he PRP B-NP +believes VBZ B-VP +current JJ B-NP +inventories NNS I-NP +are VBP B-VP +n't RB O +as RB B-ADJP +low JJ I-ADJP +as IN B-SBAR +official JJ B-NP +figures NNS I-NP +indicate VBP B-VP +. . O + +Demand NN B-NP +, , O +he PRP B-NP +believes VBZ B-VP +, , O +is VBZ B-VP +being VBG I-VP +met VBN I-VP +from IN B-PP +overhang NN B-NP +rather RB B-PP +than IN I-PP +new JJ B-NP +production NN I-NP +. . O + +By IN B-ADVP +and CC I-ADVP +large JJ I-ADVP +, , O +economists NNS B-NP +believe VBP B-VP +the DT B-NP +two CD I-NP +natural JJ I-NP +catastrophes NNS I-NP +will MD B-VP +limit VB I-VP +economic JJ B-NP +damage NN I-NP +to TO B-PP +their PRP$ B-NP +regions NNS I-NP +. . O + +Edward NNP B-NP +J. NNP I-NP +Campbell NNP I-NP +, , O +economist NN B-NP +at IN B-PP +Brown NNP B-NP +Brothers NNP I-NP +Harriman NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +New NNP B-NP +York NNP I-NP +, , O +noted VBD B-VP +that IN B-SBAR +large JJ B-NP +increases NNS I-NP +in IN B-PP +construction NN B-NP +activity NN I-NP +along IN B-ADVP +with IN B-PP +government NN B-NP +and CC I-NP +private JJ I-NP +relief NN I-NP +efforts NNS I-NP +could MD B-VP +offset VB I-VP +loss NN B-NP +of IN B-PP +production NN B-NP +in IN B-PP +those DT B-NP +areas NNS I-NP +. . O + +Gary NNP B-NP +Ciminero NNP I-NP +, , O +economist NN B-NP +at IN B-PP +Fleet\/Norstar NNP B-NP +Financial NNP I-NP +Group NNP I-NP +, , O +Providence NNP B-NP +, , O +R.I. NNP B-NP +, , O +expects VBZ B-VP +the DT B-NP +deflator NN I-NP +to TO B-VP +rise VB I-VP +3.7 CD B-NP +% NN I-NP +, , O +well RB B-ADVP +below IN B-PP +the DT B-NP +second JJ I-NP +quarter NN I-NP +'s POS B-NP +4.6 CD I-NP +% NN I-NP +, , O +partly RB B-ADVP +because IN B-PP +of IN I-PP +what WP B-NP +he PRP B-NP +believes VBZ B-VP +will MD B-VP +be VB I-VP +temporarily RB B-NP +better JJR I-NP +price NN I-NP +behavior NN I-NP +. . O + +He PRP B-NP +expects VBZ B-VP +real JJ B-NP +GNP NNP I-NP +growth NN I-NP +of IN B-PP +only RB B-NP +2.1 CD I-NP +% NN I-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +, , O +noting VBG B-VP +a DT B-NP +wider JJR I-NP +trade NN I-NP +deficit NN I-NP +, , O +slower JJR B-NP +capital NN I-NP +and CC I-NP +government NN I-NP +spending NN I-NP +and CC O +the DT B-NP +lower JJR I-NP +inventory NN I-NP +figures NNS I-NP +. . O + +Sung NNP B-NP +Won NNP I-NP +Sohn NNP I-NP +, , O +chief JJ B-NP +economist NN I-NP +at IN B-PP +Norwest NNP B-NP +Corp. NNP I-NP +, , O +Minneapolis NNP B-NP +, , O +holds VBZ B-VP +that IN B-SBAR +the DT B-NP +recent JJ I-NP +stock-market NN I-NP +volatility NN I-NP +`` `` O +increases VBZ B-VP +the DT B-NP +possibility NN I-NP +of IN B-PP +economic JJ B-NP +recession NN I-NP +and CC O +reinforces VBZ B-VP +the DT B-NP +bad JJ I-NP +news NN I-NP +'' '' O +from IN B-PP +recent JJ B-NP +trade NN I-NP +deficit NN I-NP +, , I-NP +employment NN I-NP +and CC I-NP +housing NN I-NP +reports NNS I-NP +. . O + +The DT B-NP +consensus NN I-NP +calls VBZ B-VP +for IN B-PP +a DT B-NP +0.5 CD I-NP +% NN I-NP +increase NN I-NP +in IN B-PP +September NNP B-NP +personal JJ I-NP +income NN I-NP +and CC O +a DT B-NP +0.3 CD I-NP +% NN I-NP +gain NN I-NP +in IN B-PP +consumption NN B-NP +. . O + +In IN B-PP +August NNP B-NP +, , O +personal JJ B-NP +income NN I-NP +rose VBD B-VP +0.4 CD B-NP +% NN I-NP +and CC O +personal JJ B-NP +consumption NN I-NP +increased VBN B-VP +0.9 CD B-NP +% NN I-NP +. . O + +Charles NNP B-NP +Lieberman NNP I-NP +, , O +managing VBG B-NP +director NN I-NP +of IN B-PP +financial JJ B-NP +markets NNS I-NP +reasearch NN I-NP +at IN B-PP +Manufacturers NNP B-NP +Hanover NNP I-NP +Securities NNP I-NP +Corp. NNP I-NP +, , O +New NNP B-NP +York NNP I-NP +, , O +said VBD B-VP +Hurrican NNP B-NP +Hugo NNP I-NP +shaved VBD B-VP +0.1 CD B-NP +% NN I-NP +to TO I-NP +0.2 CD I-NP +% NN I-NP +from IN B-PP +personal-income JJ B-NP +growth NN I-NP +, , O +because IN B-PP +of IN I-PP +greatly RB B-NP +diminished VBN I-NP +rental JJ I-NP +income NN I-NP +from IN B-PP +tourism NN B-NP +. . O + +Durable JJ B-NP +goods NNS I-NP +orders NNS I-NP +for IN B-PP +September NNP B-NP +, , O +due JJ B-ADJP +out IN I-ADJP +tomorrow NN B-NP +, , O +are VBP B-VP +expected VBN I-VP +to TO I-VP +show VB I-VP +a DT B-NP +slip NN I-NP +of IN B-PP +1 CD B-NP +% NN I-NP +, , O +compared VBN B-PP +with IN B-PP +August NNP B-NP +'s POS B-NP +3.9 CD B-ADJP +% NN I-ADJP +increase NN B-NP +. . O + +As IN B-PP +usual JJ B-ADJP +, , O +estimates VBZ B-NP +on IN B-PP +the DT B-NP +fickle JJ I-NP +report NN I-NP +are VBP B-VP +wide JJ B-ADJP +, , O +running VBG B-VP +from IN B-PP +a DT B-NP +drop NN I-NP +of IN B-PP +3.5 CD B-NP +% NN I-NP +to TO B-PP +a DT B-NP +gain NN I-NP +of IN B-PP +1.6 CD B-NP +% NN I-NP +. . O + +HASTINGS NNP B-NP +MANUFACTURING NNP I-NP +Co. NNP I-NP +declared VBD B-VP +a DT B-NP +regular JJ I-NP +quarterly JJ I-NP +dividend NN I-NP +of IN B-PP +10 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +and CC O +an DT B-NP +extra JJ I-NP +dividend NN I-NP +of IN B-PP +five CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +on IN B-PP +its PRP$ B-NP +common JJ I-NP +stock NN I-NP +, , O +payable JJ B-ADJP +Dec. NNP B-NP +15 CD I-NP +to TO B-PP +shares NNS B-NP +of IN B-PP +record NN B-NP +Nov. NNP B-NP +17 CD I-NP +. . O + +This DT B-NP +is VBZ B-VP +the DT B-NP +11th JJ I-NP +consecutive JJ I-NP +quarter NN I-NP +in IN B-PP +which WDT B-NP +the DT B-NP +company NN I-NP +has VBZ B-VP +paid VBN I-VP +shareholders NNS B-NP +an DT B-NP +extra JJ I-NP +dividend NN I-NP +of IN B-PP +five CD B-NP +cents NNS I-NP +. . O + +The DT B-NP +Hastings NNP I-NP +, , I-NP +Mich. NNP I-NP +, , I-NP +concern NN I-NP +makes VBZ B-VP +piston NN B-NP +rings NNS I-NP +, , O +filters NNS B-NP +and CC O +fuel NN B-NP +pumps NNS I-NP +. . O + +Vickers NNP B-NP +PLC NNP I-NP +, , O +a DT B-NP +United NNP I-NP +Kingdom NNP I-NP +defense NN I-NP +and CC I-NP +engineering NN I-NP +company NN I-NP +, , O +said VBD B-VP +an DT B-NP +investment NN I-NP +unit NN I-NP +controlled VBN B-VP +by IN B-PP +New NNP B-NP +Zealand NNP I-NP +financier NN I-NP +Ron NNP I-NP +Brierley NNP I-NP +raised VBD B-VP +its PRP$ B-NP +stake NN I-NP +in IN B-PP +the DT B-NP +company NN I-NP +Friday NNP B-NP +to TO B-PP +15.02 CD B-NP +% NN I-NP +from IN B-PP +about IN B-NP +14.6 CD I-NP +% NN I-NP +Thursday NNP B-NP +and CC B-PP +from IN B-PP +13.7 CD B-NP +% NN I-NP +the DT B-NP +previous JJ I-NP +week NN I-NP +. . O + +I.E.P. NNP B-NP +Securities NNP I-NP +Ltd. NNP I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +Mr. NNP B-NP +Brierley NNP I-NP +'s POS B-NP +Hong NNP B-ADVP +Kong-based NNP I-ADVP +Industrial NNP B-NP +Equity NNP I-NP +-LRB- ( O +Pacific NNP O +-RRB- ) O +Ltd. NNP B-NP +, , O +boosted VBD B-VP +its PRP$ B-NP +holdings NNS I-NP +in IN B-PP +Vickers NNP B-NP +to TO B-PP +38.8 CD B-NP +million CD I-NP +shares NNS I-NP +. . O + +The DT B-NP +latest JJS I-NP +purchase NN I-NP +follows VBZ B-VP +small JJ B-NP +increases NNS I-NP +in IN B-PP +his PRP$ B-NP +holdings NNS I-NP +made VBN B-VP +over IN B-PP +the DT B-NP +past JJ I-NP +five CD I-NP +months NNS I-NP +. . O + +In IN B-PP +May NNP B-NP +, , O +Mr. NNP B-NP +Brierley NNP I-NP +'s POS B-NP +stake NN I-NP +shrank VBD B-VP +to TO B-PP +8.7 CD B-NP +% NN I-NP +after IN B-SBAR +ranging VBG B-VP +between IN B-PP +9 CD B-NP +% NN I-NP +and CC O +11 CD B-NP +% NN I-NP +for IN B-PP +much NN B-NP +of IN B-PP +the DT B-NP +previous JJ I-NP +year NN I-NP +. . O + +`` `` O +Ron NNP B-NP +Brierley NNP I-NP +clearly RB B-ADVP +views VBZ B-VP +our PRP$ B-NP +company NN I-NP +as IN B-PP +a DT B-NP +good JJ I-NP +investment NN I-NP +, , O +'' '' O +a DT B-NP +Vickers NNP I-NP +spokesman NN I-NP +said VBD B-VP +. . O + +The DT B-NP +spokesman NN I-NP +refused VBD B-VP +to TO I-VP +comment VB I-VP +on IN B-PP +speculation NN B-NP +that IN B-SBAR +Industrial NNP B-NP +Equity NNP I-NP +might MD B-VP +use VB I-VP +its PRP$ B-NP +interest NN I-NP +as IN B-PP +a DT B-NP +platform NN I-NP +to TO B-VP +launch VB I-VP +a DT B-NP +hostile JJ I-NP +bid NN I-NP +for IN B-PP +the DT B-NP +company NN I-NP +. . O + +Vickers NNP B-NP +makes VBZ B-VP +tanks NNS B-NP +for IN B-PP +the DT B-NP +U.K. NNP I-NP +army NN I-NP +, , O +Rolls NNP B-NP +Royce NNP I-NP +cars NNS I-NP +, , O +and CC O +has VBZ B-VP +marine NN B-NP +and CC I-NP +medical JJ I-NP +businesses NNS I-NP +. . O + +When WRB B-ADVP +Rune NNP B-NP +Andersson NNP I-NP +set VBD B-VP +out IN B-PRT +to TO B-VP +revive VB I-VP +flagging JJ B-NP +Swedish JJ I-NP +conglomerate NN I-NP +Trelleborg NNP I-NP +AB NNP I-NP +in IN B-PP +the DT B-NP +early JJ I-NP +1980s CD I-NP +, , O +he PRP B-NP +spurned VBD B-VP +the DT B-NP +advice NN I-NP +of IN B-PP +trendy JJ B-NP +management NN I-NP +consultants NNS I-NP +. . O + +`` `` O +All DT B-NP +these DT I-NP +consultants NNS I-NP +kept VBD B-VP +coming VBG I-VP +around IN B-PRT +telling VBG B-VP +us PRP B-NP +we PRP B-NP +should MD B-VP +concentrate VB I-VP +on IN B-PP +high JJ B-NP +technology NN I-NP +, , O +electronics NNS B-NP +or CC O +biotechnology NN B-NP +, , O +and CC O +get VB B-VP +out IN B-ADVP +of IN B-PP +mature JJ B-NP +basic JJ I-NP +industries NNS I-NP +, , O +'' '' O +Mr. NNP B-NP +Andersson NNP I-NP +recalls VBZ B-VP +. . O + +Yet RB O +under IN B-PP +its PRP$ B-NP +45-year-old JJ I-NP +president NN I-NP +, , O +Trelleborg NNP B-NP +moved VBD B-VP +aggressively RB B-ADVP +into IN B-PP +those DT B-NP +unfashionable JJ I-NP +base NN I-NP +industries NNS I-NP +-- : O +first JJ B-ADVP +strengthening VBG B-VP +its PRP$ B-NP +existing VBG I-NP +rubber NN I-NP +and CC I-NP +plastics NNS I-NP +division NN I-NP +, , O +later RB B-VP +adding VBG I-VP +mining NN B-NP +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +building NN B-NP +and CC I-NP +construction NN I-NP +materials NNS I-NP +. . O + +It PRP B-NP +was VBD B-VP +a DT B-NP +gutsy JJ I-NP +move NN I-NP +for IN B-PP +a DT B-NP +little-known JJ I-NP +executive NN I-NP +, , O +fired VBN B-VP +after IN B-PP +only RB B-NP +two CD I-NP +months NNS I-NP +as IN B-PP +president NN B-NP +of IN B-PP +his PRP$ B-NP +previous JJ I-NP +company NN I-NP +. . O + +But CC O +going VBG B-VP +against IN B-PP +the DT B-NP +grain NN I-NP +has VBZ B-VP +never RB I-VP +bothered VBN I-VP +Mr. NNP B-NP +Andersson NNP I-NP +. . O + +Stroking VBG B-VP +his PRP$ B-NP +trademark NN I-NP +white JJ I-NP +goatee NN I-NP +during IN B-PP +a DT B-NP +recent JJ I-NP +interview NN I-NP +, , O +the DT B-NP +diminutive JJ I-NP +Swede NN I-NP +quips VBZ B-VP +: : O +`` `` O +It PRP B-NP +turned VBD B-VP +out IN B-PRT +to TO B-VP +be VB I-VP +lucky JJ B-ADJP +for IN B-PP +us PRP B-NP +. . O + +If IN B-SBAR +the DT B-NP +whole JJ I-NP +market NN I-NP +thinks VBZ B-VP +what WP B-NP +you PRP B-NP +'re VBP B-VP +doing VBG I-VP +is VBZ B-VP +crazy JJ B-ADJP +you PRP B-NP +do VBP B-VP +n't RB I-VP +have VB I-VP +much JJ B-NP +competition NN I-NP +. . O +'' '' O + +Mr. NNP B-NP +Andersson NNP I-NP +is VBZ B-VP +anxious JJ B-ADJP +to TO B-VP +strengthen VB I-VP +Trelleborg NNP B-NP +'s POS B-NP +balance NN I-NP +sheet NN I-NP +. . O + +Characteristically RB B-ADVP +, , O +he PRP B-NP +did VBD B-VP +n't RB I-VP +waste VB I-VP +much JJ B-NP +time NN I-NP +getting VBG B-VP +started VBN I-VP +. . O + +On IN B-PP +Tuesday NNP B-NP +, , O +Trelleborg NNP B-NP +'s POS B-NP +directors NNS I-NP +announced VBD B-VP +plans NNS B-NP +to TO B-VP +spin VB I-VP +off IN B-PRT +two CD B-NP +big JJ I-NP +divisions NNS I-NP +-- : O +minerals NNS B-NP +processing NN I-NP +, , O +and CC O +building NN B-NP +and CC I-NP +distribution NN I-NP +-- : O +as IN B-PP +separately RB B-NP +quoted VBN I-NP +companies NNS I-NP +on IN B-PP +Stockholm NNP B-NP +'s POS B-NP +Stock NNP I-NP +Exchange NNP I-NP +. . O + +At IN B-PP +current JJ B-NP +market NN I-NP +prices NNS I-NP +, , O +the DT B-NP +twin JJ I-NP +public JJ I-NP +offerings NNS I-NP +to TO B-VP +be VB I-VP +completed VBN I-VP +next JJ B-NP +year NN I-NP +would MD B-VP +add VB I-VP +an DT B-NP +estimated VBN I-NP +2.5 CD I-NP +billion CD I-NP +Swedish JJ I-NP +kronor NNS I-NP +-LRB- ( O +$ $ B-NP +386 CD I-NP +million CD I-NP +-RRB- ) O +to TO B-PP +Trelleborg NNP B-NP +'s POS B-NP +coffers NNS I-NP +, , O +analysts NNS B-NP +say VBP B-VP +. . O + +The DT B-NP +board NN I-NP +had VBD B-VP +also RB I-VP +been VBN I-VP +expected VBN I-VP +to TO I-VP +approve VB I-VP +a DT B-NP +SKr1.5 NNS I-NP +billion CD I-NP +international JJ I-NP +offering NN I-NP +of IN B-PP +new JJ B-NP +Trelleborg NNP I-NP +shares NNS I-NP +. . O + +But CC O +that DT B-NP +share NN I-NP +issue NN I-NP +-- : O +intended VBN B-VP +to TO I-VP +make VB I-VP +Trelleborg NNP B-NP +better RBR B-ADJP +known VBN I-ADJP +among IN B-PP +international JJ B-NP +investors NNS I-NP +-- : O +was VBD B-VP +postponed VBN I-VP +until IN B-SBAR +market NN B-NP +conditions NNS I-NP +stabilize VBP B-VP +, , O +people NNS B-NP +familiar JJ B-ADJP +with IN B-PP +the DT B-NP +situation NN I-NP +say VBP B-VP +. . O + +Trelleborg NNP B-NP +'s POS B-NP +internationally RB B-ADJP +traded VBN I-ADJP +`` `` B-NP +Bfree NNP I-NP +'' '' I-NP +series NN I-NP +stock NN I-NP +plunged VBD B-VP +SKr29 NNS B-NP +-LRB- ( O +$ $ B-NP +4.48 CD I-NP +-RRB- ) O +to TO B-PP +SKr205 NNS B-NP +-LRB- ( O +$ $ B-NP +31.65 CD I-NP +-RRB- ) O +in IN B-PP +volatile JJ B-NP +trading NN I-NP +Monday NNP B-NP +in IN B-PP +Stockholm NNP B-NP +. . O + +Tuesday NNP B-NP +, , O +the DT B-NP +shares NNS I-NP +regained VBD B-VP +SKr20 NNS B-NP +, , O +closing VBG B-VP +at IN B-PP +SKr225 NNS B-NP +. . O + +Mr. NNP B-NP +Andersson NNP I-NP +says VBZ B-VP +he PRP B-NP +is VBZ B-VP +confident JJ B-ADJP +that IN B-SBAR +taking VBG B-VP +parts NNS B-NP +of IN B-PP +the DT B-NP +company NN I-NP +public NN B-ADJP +will MD B-VP +help VB I-VP +erase VB I-VP +the DT B-NP +`` `` I-NP +conglomerate NN I-NP +stigma NN I-NP +'' '' O +that WDT B-NP +has VBZ B-VP +held VBN I-VP +down RB B-PRT +Trelleborg NNP B-NP +'s POS B-NP +share NN I-NP +price NN I-NP +. . O + +Trelleborg NNP B-NP +plans VBZ B-VP +to TO I-VP +remain VB I-VP +the DT B-NP +dominant JJ I-NP +shareholder NN I-NP +with IN B-PP +stakes NNS B-NP +of IN B-PP +slightly RB B-NP +less JJR I-NP +than IN B-PP +50 CD B-NP +% NN I-NP +of IN B-PP +both DT B-NP +units NNS I-NP +. . O + +The DT B-NP +spinoff NN I-NP +should MD B-VP +solve VB I-VP +a DT B-NP +problem NN I-NP +for IN B-PP +the DT B-NP +parent NN I-NP +. . O + +A DT B-NP +family NN I-NP +foundation NN I-NP +set VBN B-VP +up IN B-PRT +by IN B-PP +late JJ B-NP +founder NN I-NP +Henry NNP I-NP +Dunker NNP I-NP +controls NNS B-VP +59 CD B-NP +% NN I-NP +of IN B-PP +Trelleborg NNP B-NP +'s POS B-NP +voting NN I-NP +shares NNS I-NP +outstanding JJ B-ADJP +. . O + +But CC O +the DT B-NP +foundation NN I-NP +bylaws NNS I-NP +require VBP B-VP +the DT B-NP +entire JJ I-NP +Trelleborg NNP I-NP +stake NN I-NP +to TO B-VP +be VB I-VP +sold VBN I-VP +in IN B-PP +the DT B-NP +open JJ I-NP +market NN I-NP +if IN B-SBAR +control NN B-NP +drops VBZ B-VP +below IN B-PP +50 CD B-NP +% NN I-NP +. . O + +That DT B-NP +possibility NN I-NP +had VBD B-VP +crept VBN I-VP +closer RBR B-ADVP +as IN B-SBAR +repeated VBN B-NP +new JJ I-NP +share NN I-NP +offerings NNS I-NP +to TO B-VP +finance VB I-VP +Trelleborg NNP B-NP +'s POS B-NP +rapid JJ I-NP +growth NN I-NP +steadily RB B-ADVP +diluted VBD B-VP +the DT B-NP +foundation NN I-NP +'s POS B-NP +holding VBG I-NP +. . O + +That DT B-NP +growth NN I-NP +is VBZ B-VP +the DT B-NP +result NN I-NP +of IN B-PP +Mr. NNP B-NP +Andersson NNP I-NP +'s POS B-NP +shopping NN I-NP +spree NN I-NP +, , O +during IN B-PP +which WDT B-NP +he PRP B-NP +has VBZ B-VP +bought VBN I-VP +and CC I-VP +sold VBN I-VP +more JJR B-NP +than IN I-NP +100 CD I-NP +companies NNS I-NP +during IN B-PP +the DT B-NP +past JJ I-NP +five CD I-NP +years NNS I-NP +. . O + +Most JJS B-NP +of IN B-PP +the DT B-NP +new JJ I-NP +additions NNS I-NP +were VBD B-VP +barely RB B-ADJP +profitable JJ I-ADJP +, , O +if IN B-CONJP +not RB I-CONJP +outright JJ B-NP +loss NN I-NP +makers NNS I-NP +. . O + +Applying VBG B-VP +prowess NN B-NP +gained VBD B-VP +during IN B-PP +earlier JJR B-NP +stints NNS I-NP +at IN B-PP +appliance NN B-NP +maker NN I-NP +AB NNP I-NP +Electrolux NNP I-NP +, , O +Mr. NNP B-NP +Andersson NNP I-NP +and CC O +a DT B-NP +handful NN I-NP +of IN B-PP +loyal JJ B-NP +lieutenants NNS I-NP +aggressively RB B-VP +stripped VBN I-VP +away RB B-ADVP +dead JJ B-NP +wood NN I-NP +-- : O +and CC O +got VBD B-VP +quick JJ B-NP +results NNS I-NP +. . O + +The DT B-NP +treatment NN I-NP +turned VBD B-VP +Trelleborg NNP B-NP +into IN B-PP +one CD B-NP +of IN B-PP +Scandinavia NNP B-NP +'s POS B-NP +biggest JJS B-ADJP +and CC I-ADJP +fastest-growing JJ I-ADJP +industrial JJ B-NP +concerns NNS I-NP +. . O + +Between IN B-PP +1985 CD B-NP +and CC I-NP +1988 CD I-NP +, , O +sales NNS B-NP +multipled VBD B-VP +more JJR B-ADVP +than IN I-ADVP +10 CD I-ADVP +times NNS I-ADVP +and CC O +pretax JJ B-NP +profit NN I-NP +surged VBD B-VP +almost RB B-ADVP +twelvefold JJ I-ADVP +. . O + +Many JJ B-NP +analysts NNS I-NP +expect VBP B-VP +Mr. NNP B-NP +Andersson NNP I-NP +, , O +who WP B-NP +owns VBZ B-VP +1.7 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +, , O +to TO B-VP +be VB I-VP +named VBN I-VP +Trelleborg NNP B-NP +'s POS B-NP +new JJ I-NP +chairman NN I-NP +when WRB B-ADVP +Ernst NNP B-NP +Herslow NNP I-NP +steps NNS B-VP +down RB B-ADVP +next JJ B-NP +year NN I-NP +. . O + +But CC O +the DT B-NP +promotion NN I-NP +is VBZ B-VP +n't RB O +likely JJ B-ADJP +to TO B-VP +alter VB I-VP +a DT B-NP +management NN I-NP +style NN I-NP +Mr. NNP B-NP +Andersson NNP I-NP +describes VBZ B-VP +as IN B-PP +`` `` O +being VBG B-VP +the DT B-NP +driving VBG I-NP +force NN I-NP +leading VBG B-VP +the DT B-NP +troops NNS I-NP +, , O +not RB O +managing VBG B-VP +by IN B-PP +sitting VBG B-VP +back RB B-ADVP +with IN B-PP +a DT B-NP +cigar NN I-NP +waiting VBG B-VP +for IN B-SBAR +people NNS B-NP +to TO B-VP +bring VB I-VP +me PRP B-NP +ideas NNS B-NP +. . O +'' '' O + +Last JJ B-NP +month NN I-NP +, , O +in IN B-PP +his PRP$ B-NP +boldest JJS I-NP +move NN I-NP +yet RB B-ADVP +, , O +Mr. NNP B-NP +Andersson NNP I-NP +and CC O +Trelleborg NNP B-NP +joined VBD B-VP +forces NNS B-NP +with IN B-PP +Canada NNP B-NP +'s POS B-NP +Noranda NNP I-NP +Inc. NNP I-NP +in IN B-PP +a DT B-NP +joint JJ I-NP +$ $ I-NP +2 CD I-NP +billion CD I-NP +hostile JJ I-NP +takeover NN I-NP +of IN B-PP +another DT B-NP +big JJ I-NP +Canadian JJ I-NP +mining NN I-NP +concern NN I-NP +, , O +Falconbridge NNP B-NP +Ltd NNP I-NP +. . O + +Industry NN B-NP +analysts NNS I-NP +suggest VBP B-VP +that IN B-SBAR +the DT B-NP +conquest NN I-NP +of IN B-PP +Falconbridge NNP B-NP +could MD B-VP +vault VB I-VP +Trelleborg NNP B-NP +from IN B-PP +a DT B-NP +regional JJ I-NP +Scandinavian NNP I-NP +success NN I-NP +story NN I-NP +to TO B-PP +a DT B-NP +world-class JJ I-NP +mining NN I-NP +concern NN I-NP +. . O + +`` `` O +Trelleborg NNP B-NP +is VBZ B-VP +n't RB O +in IN B-PP +the DT B-NP +same JJ I-NP +league NN I-NP +yet RB B-ADVP +as IN B-PP +mining NN B-NP +giants NNS I-NP +such JJ B-PP +as IN I-PP +RTZ NNP B-NP +Corp. NNP I-NP +or CC O +Anglo-American NNP B-NP +Corp. NNP I-NP +, , O +'' '' O +says VBZ B-VP +Mike NNP B-NP +Kurtanjek NNP I-NP +, , O +a DT B-NP +mining NN I-NP +analyst NN I-NP +at IN B-PP +James NNP B-NP +Capel NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +London NNP B-NP +. . O + +`` `` O +But CC O +we PRP B-NP +certainly RB B-ADVP +like IN B-VP +what WP B-NP +we PRP B-NP +'ve VBP B-VP +seen VBN I-VP +so RB B-ADVP +far RB I-ADVP +. . O +'' '' O + +But CC O +Trelleborg NNP B-NP +still RB B-ADVP +must MD B-VP +clear VB I-VP +some DT B-NP +tough JJ I-NP +hurdles NNS I-NP +. . O + +Mr. NNP B-NP +Andersson NNP I-NP +acknowledges VBZ B-VP +that IN B-SBAR +the DT B-NP +company NN I-NP +'s POS B-NP +mining NN I-NP +division NN I-NP +`` `` O +will MD B-VP +be VB I-VP +busy JJ B-ADJP +for IN B-PP +a DT B-NP +while NN I-NP +digesting VBG B-VP +its PRP$ B-NP +recent JJ I-NP +expansion NN I-NP +. . O +'' '' O + +Booming JJ B-NP +metals NNS I-NP +prices NNS I-NP +have VBP B-VP +fueled VBN I-VP +Trelleborg NNP B-NP +'s POS B-NP +recent JJ I-NP +profit NN I-NP +surge NN I-NP +, , O +raising VBG B-VP +mining NN B-NP +'s POS B-NP +share NN I-NP +of IN B-PP +pretax JJ B-NP +profit NN I-NP +to TO B-PP +68 CD B-NP +% NN I-NP +this DT B-NP +year NN I-NP +from IN B-PP +a DT B-NP +big JJ I-NP +loss NN I-NP +two CD B-NP +years NNS I-NP +earlier RBR B-ADVP +. . O + +But CC O +analysts NNS B-NP +caution VBP B-VP +an DT B-NP +expected VBN I-NP +fall NN I-NP +in IN B-PP +metal NN B-NP +prices NNS I-NP +next JJ B-NP +year NN I-NP +could MD B-VP +slow VB I-VP +profit NN B-NP +growth NN I-NP +. . O + +Mining NNP B-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +remain VB I-VP +Trelleborg NNP B-NP +'s POS B-NP +main JJ I-NP +business NN I-NP +. . O + +Analysts NNS B-NP +say VBP B-VP +its PRP$ B-NP +chances NNS I-NP +of IN B-PP +success NN B-NP +will MD B-VP +likely RB I-VP +hinge NN I-VP +on IN B-PP +how WRB B-ADVP +well RB I-ADVP +Trelleborg NNP B-NP +manages VBZ B-VP +to TO I-VP +cooperate VB I-VP +with IN B-PP +Noranda NNP B-NP +in IN B-PP +the DT B-NP +Falconbridge NNP I-NP +venture NN I-NP +. . O + +Noranda NNP B-NP +and CC I-NP +Trelleborg NNP I-NP +each DT O +came VBD B-VP +close RB B-ADJP +to TO B-PP +winning VBG B-VP +Falconbridge NNP B-NP +alone RB B-ADVP +before IN B-PP +the DT B-NP +successful JJ I-NP +joint JJ I-NP +bid NN I-NP +. . O + +Some DT B-NP +analysts NNS I-NP +say VBP B-VP +Noranda NNP B-NP +would MD B-VP +prefer VB I-VP +to TO I-VP +break VB I-VP +up IN B-PRT +Falconbridge NNP B-NP +, , O +and CC O +that IN B-SBAR +the DT B-NP +Swedes NNPS I-NP +-- : O +relatively RB B-ADJP +inexperienced JJ I-ADJP +in IN B-PP +international JJ B-NP +mining NN I-NP +operations NNS I-NP +-- : O +could MD B-VP +have VB I-VP +problems NNS B-NP +holding VBG B-VP +their PRP$ B-NP +own JJ I-NP +with IN B-PP +a DT B-NP +much RB I-NP +bigger JJR I-NP +partner NN I-NP +like IN B-PP +Noranda NNP B-NP +operating VBG B-VP +on IN B-PP +its PRP$ B-NP +home NN I-NP +turf NN I-NP +. . O + +Mr. NNP B-NP +Andersson NNP I-NP +insists VBZ B-VP +that IN B-SBAR +Trelleborg NNP B-NP +and CC I-NP +Noranda NNP I-NP +have VBP B-VP +n't RB I-VP +discussed VBN I-VP +a DT B-NP +Falconbridge NNP I-NP +break-up NN I-NP +. . O + +Falconbridge NNP B-NP +, , O +he PRP B-NP +says VBZ B-VP +, , O +will MD B-VP +continue VB I-VP +operating VBG I-VP +in IN B-PP +its PRP$ B-NP +current JJ I-NP +form NN I-NP +. . O + +`` `` O +We PRP B-NP +'d MD B-VP +be VB I-VP +reluctant JJ B-ADJP +to TO B-VP +accept VB I-VP +50-50 JJ B-NP +ownership NN I-NP +in IN B-PP +a DT B-NP +manufacturing NN I-NP +company NN I-NP +. . O + +But CC O +such JJ B-NP +partnerships NNS I-NP +are VBP B-VP +common JJ B-ADJP +in IN B-PP +mining NN B-NP +, , O +where WRB B-ADVP +there EX B-NP +are VBP B-VP +n't RB O +problems NNS B-NP +or CC O +conflict NN B-NP +of IN B-PP +interest NN B-NP +or CC O +risk NN B-NP +of IN B-PP +cheating NN B-NP +by IN B-PP +a DT B-NP +partner NN I-NP +, , O +'' '' O +Trelleborg NNP B-NP +'s POS B-NP +president NN I-NP +says NNS B-VP +. . O + +Perhaps RB B-ADJP +more RBR I-ADJP +important JJ I-ADJP +, , O +both DT B-NP +companies NNS I-NP +share VBP B-VP +Mr. NNP B-NP +Andersson NNP I-NP +'s POS B-NP +belief NN I-NP +in IN B-PP +the DT B-NP +coming VBG I-NP +renaissance NN I-NP +of IN B-PP +base NN B-NP +industries NNS I-NP +. . O + +`` `` O +If IN B-SBAR +the DT B-NP +1980s CD I-NP +were VBD B-VP +a DT B-NP +decade NN I-NP +of IN B-PP +consumption NN B-NP +, , O +the DT B-NP +'90s NNS I-NP +will MD B-VP +be VB I-VP +the DT B-NP +investment NN I-NP +decade NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Andersson NNP I-NP +says VBZ B-VP +. . O + +`` `` O +The DT B-NP +whole NN I-NP +of IN B-PP +Europe NNP B-NP +and CC O +the DT B-NP +industrialized VBN I-NP +world NN I-NP +is VBZ B-VP +suffering VBG I-VP +from IN B-PP +a DT B-NP +breakdown NN I-NP +in IN B-PP +infrastructure NN B-NP +investment NN I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +`` `` O +That DT B-NP +'s VBZ B-VP +beginning VBG I-VP +to TO I-VP +change VB I-VP +. . O + +And CC O +investment NN B-NP +is VBZ B-VP +the DT B-NP +key JJ I-NP +word NN I-NP +for IN B-PP +base NN B-NP +metals NNS I-NP +, , O +and CC O +most RBS B-NP +other JJ I-NP +businesses NNS I-NP +Trelleborg NNP B-NP +is VBZ B-VP +in RB B-PP +. . O + +Apple NNP B-NP +Computer NNP I-NP +Inc. NNP I-NP +posted VBD B-VP +improved VBN B-NP +fiscal JJ I-NP +fourth-quarter JJ I-NP +profit NN I-NP +due JJ B-ADVP +largely RB I-ADVP +to TO B-PP +a DT B-NP +$ $ I-NP +48 CD I-NP +million CD I-NP +gain NN I-NP +on IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +its PRP$ B-NP +stock NN I-NP +in IN B-PP +Adobe NNP B-NP +Systems NNP I-NP +Inc NNP I-NP +. . O + +Excluding VBG B-PP +the DT B-NP +gain NN I-NP +, , O +the DT B-NP +company NN I-NP +registered VBD B-VP +a DT B-NP +modest JJ I-NP +4.6 CD I-NP +% NN I-NP +increase NN I-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +ended VBN B-VP +Sept. NNP B-NP +29 CD I-NP +to TO B-PP +$ $ B-NP +113 CD I-NP +million CD I-NP +, , O +or CC O +87 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +the DT B-NP +year-earlier JJ I-NP +$ $ I-NP +107.9 CD I-NP +million CD I-NP +, , O +or CC O +84 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +Proceeds NNS B-NP +of IN B-PP +the DT B-NP +Adobe NNP I-NP +sale NN I-NP +brought VBD B-VP +net JJ B-NP +income NN I-NP +in IN B-PP +the DT B-NP +quarter NN I-NP +to TO B-PP +$ $ B-NP +161.1 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.24 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Apple NN B-NP +shares NNS I-NP +fell VBD B-VP +75 CD B-NP +cents NNS I-NP +in IN B-PP +over-the-counter JJ B-NP +trading NN I-NP +to TO B-VP +close VB I-VP +at IN B-PP +$ $ B-NP +48 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Fiscal JJ B-NP +fourth-quarter JJ I-NP +sales NNS I-NP +grew VBD B-VP +about IN B-NP +18 CD I-NP +% NN I-NP +to TO B-PP +$ $ B-NP +1.38 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +1.17 CD I-NP +billion CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Without IN B-PP +the DT B-NP +Adobe NNP I-NP +gain NN I-NP +, , O +Apple NNP B-NP +'s POS B-NP +full-year JJ I-NP +operating NN I-NP +profit NN I-NP +edged VBD B-VP +up IN B-ADVP +1.5 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +406 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +3.16 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +400.3 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +3.08 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Including VBG B-PP +the DT B-NP +Adobe NNP I-NP +gain NN I-NP +, , O +full-year JJ B-NP +net NN I-NP +was VBD B-VP +$ $ B-NP +454 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +3.53 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Sales NNS B-NP +for IN B-PP +the DT B-NP +year NN I-NP +rose VBD B-VP +nearly RB B-NP +30 CD I-NP +% NN I-NP +to TO B-PP +$ $ B-NP +5.28 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +4.07 CD I-NP +billion CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +John NNP B-NP +Sculley NNP I-NP +, , O +chairman NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +, , O +credited VBD B-VP +the DT B-NP +Macintosh NNP I-NP +SE\/30 NNP I-NP +and CC I-NP +IIcx NNP I-NP +computers NNS I-NP +, , O +introduced VBN B-VP +in IN B-PP +the DT B-NP +winter NN I-NP +, , O +for IN B-PP +the DT B-NP +brightened VBN I-NP +sales NNS I-NP +performance NN I-NP +. . O + +Mr. NNP B-NP +Sculley NNP I-NP +also RB B-ADVP +indicated VBD B-VP +that IN B-SBAR +sagging VBG B-NP +margins NNS I-NP +, , O +which WDT B-NP +dogged VBD B-VP +the DT B-NP +company NN I-NP +through IN B-PP +most RBS B-NP +of IN B-PP +1989 CD B-NP +, , O +began VBD B-VP +to TO I-VP +turn VB I-VP +up IN B-PRT +in IN B-PP +the DT B-NP +fourth JJ I-NP +quarter NN I-NP +as IN B-SBAR +chip NN B-NP +prices NNS I-NP +eased VBD B-VP +. . O + +`` `` O +Adverse JJ B-NP +pressure NN I-NP +on IN B-PP +gross JJ B-NP +margins NNS I-NP +... : O +has VBZ B-VP +subsided VBN I-VP +, , O +'' '' O +Mr. NNP B-NP +Sculley NNP I-NP +said VBD B-VP +. . O + +Margins NNS B-NP +in IN B-PP +the DT B-NP +fiscal JJ I-NP +fourth JJ I-NP +quarter NN I-NP +perked VBD B-VP +up IN B-PRT +, , O +rising VBG B-VP +to TO B-PP +51 CD B-NP +% NN I-NP +from IN B-PP +49.2 CD B-NP +% NN I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +For IN B-PP +all DT B-NP +of IN B-PP +fiscal JJ B-NP +1989 CD I-NP +, , O +however RB B-ADVP +, , O +the DT B-NP +average JJ I-NP +gross JJ I-NP +margin NN I-NP +was VBD B-VP +49 CD B-NP +% NN I-NP +, , O +below IN B-PP +the DT B-NP +average JJ I-NP +1988 CD I-NP +gross JJ I-NP +margin NN I-NP +of IN B-PP +51 CD B-NP +% NN I-NP +. . O + +Lower JJR B-NP +component NN I-NP +costs NNS I-NP +-- : O +especially RB B-ADVP +for IN B-PP +DRAMs NNS B-NP +, , O +or CC O +dynamic JJ B-NP +random JJ I-NP +access NN I-NP +memory NN I-NP +chips NNS I-NP +-- : O +were VBD B-VP +cited VBN I-VP +for IN B-PP +the DT B-NP +easing NN I-NP +of IN B-PP +margin NN B-NP +pressure NN I-NP +on IN B-PP +the DT B-NP +company NN I-NP +, , O +a DT B-NP +spokeswoman NN I-NP +said VBD B-VP +. . O + +Looking VBG B-VP +ahead RB B-ADVP +to TO B-PP +1990 CD B-NP +, , O +Mr. NNP B-NP +Sculley NNP I-NP +predicted VBD B-VP +`` `` O +another DT B-NP +year NN I-NP +of IN B-PP +significant JJ B-NP +revenue NN I-NP +growth NN I-NP +, , O +'' '' O +along IN B-ADVP +with IN B-PP +improved VBN B-NP +profitability NN I-NP +, , O +as IN B-SBAR +the DT B-NP +recovery NN I-NP +in IN B-PP +gross JJ B-NP +margins NNS I-NP +continues VBZ B-VP +into IN B-PP +1990 CD B-NP +. . O + +Gary NNP B-NP +J. NNP I-NP +Schantz NNP I-NP +, , O +44 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +was VBD B-VP +named VBN I-VP +president NN B-NP +and CC O +chief JJ B-NP +operating VBG I-NP +officer NN I-NP +. . O + +Polymerix NNP B-NP +makes VBZ B-VP +lumber-like JJ B-NP +materials NNS I-NP +that IN B-NP +it PRP B-NP +describes VBZ B-VP +as IN B-PP +`` `` O +plastic NN B-NP +wood NN I-NP +. . O +'' '' O + +The DT B-NP +operating VBG I-NP +chief NN I-NP +'s POS B-NP +post NN I-NP +is VBZ B-VP +new JJ B-ADJP +. . O + +Martin NNP B-NP +Schrager NNP I-NP +, , O +51 CD B-NP +, , O +who WP B-NP +had VBD B-VP +been VBN I-VP +president NN B-NP +, , O +was VBD B-VP +named VBN I-VP +vice NN B-NP +chairman NN I-NP +. . O + +He PRP B-NP +remains VBZ B-VP +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +. . O + +Mr. NNP B-NP +Schantz NNP I-NP +was VBD B-VP +vice NN B-NP +president NN I-NP +and CC O +chief JJ B-NP +operating VBG I-NP +officer NN I-NP +of IN B-PP +the DT B-NP +Acrylic NNP I-NP +division NN I-NP +of IN B-PP +Polycast NNP B-NP +Technology NNP I-NP +Corp NNP I-NP +. . O + +Separately RB B-ADVP +, , O +the DT B-NP +board NN I-NP +expanded VBN B-VP +to TO B-PP +six CD B-NP +members NNS I-NP +with IN B-PP +the DT B-NP +election NN I-NP +of IN B-PP +David NNP B-NP +L. NNP I-NP +Holewinski NNP I-NP +, , O +a DT B-NP +consultant NN I-NP +. . O + +The DT B-NP +company NN I-NP +also RB B-ADVP +said VBD B-VP +it PRP B-NP +privately RB B-ADVP +placed VBD B-VP +stock NN B-NP +and CC I-NP +warrants NNS I-NP +in IN B-PP +exchange NN B-NP +for IN B-PP +$ $ B-NP +750,000 CD I-NP +. . O + +Terry NNP B-NP +L. NNP I-NP +Haines NNP I-NP +, , B-NP +formerly RB I-NP +general JJ B-NP +manager NN I-NP +of IN B-PP +Canadian JJ B-NP +operations NNS I-NP +, , O +was VBD B-VP +elected VBN I-VP +to TO B-PP +the DT B-NP +new JJ I-NP +position NN I-NP +of IN B-PP +vice NN B-NP +president NN I-NP +, , O +North NNP B-NP +American JJ I-NP +sales NNS I-NP +, , O +of IN B-PP +this DT B-NP +plastics NNS I-NP +concern VBP I-NP +. . O + +Also RB B-ADVP +, , O +Larry NNP B-NP +A. NNP I-NP +Kushkin NNP I-NP +, , O +executive JJ B-NP +vice NN I-NP +president NN I-NP +, , O +North NNP B-NP +American JJ I-NP +operations NNS I-NP +, , O +was VBD B-VP +named VBN I-VP +head NN B-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +international JJ I-NP +automotive JJ I-NP +operations NNS I-NP +, , O +another DT B-NP +new JJ I-NP +position NN I-NP +. . O + +He PRP B-NP +remains VBZ B-VP +an DT B-NP +executive JJ I-NP +vice NN I-NP +president NN I-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +, , O +and CC O +his PRP$ B-NP +new JJ I-NP +position NN I-NP +reflects VBZ B-VP +`` `` O +the DT B-NP +growing VBG I-NP +importance NN I-NP +of IN B-PP +the DT B-NP +world NN I-NP +automotive JJ I-NP +market NN I-NP +as IN B-PP +a DT B-NP +market NN I-NP +for IN B-PP +A. NNP B-NP +Schulman NNP I-NP +'s POS B-NP +high JJ I-NP +performance NN I-NP +plastic NN I-NP +materials NNS I-NP +. . O +'' '' O + +Gordon NNP B-NP +Trimmer NNP I-NP +will MD B-VP +succeed VB I-VP +Mr. NNP B-NP +Haines NNP I-NP +as IN B-PP +manager NN B-NP +of IN B-PP +Canadian JJ B-NP +operations NNS I-NP +, , O +and CC O +Mr. NNP B-NP +Kushkin NNP I-NP +'s POS B-NP +former JJ I-NP +position NN I-NP +is VBZ B-VP +n't RB I-VP +being VBG I-VP +filled VBN I-VP +at IN B-PP +this DT B-NP +time NN I-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +. . O + +General NNP B-NP +Electric NNP I-NP +Co. NNP I-NP +said VBD B-VP +it PRP B-NP +signed VBD B-VP +a DT B-NP +contract NN I-NP +with IN B-PP +the DT B-NP +developers NNS I-NP +of IN B-PP +the DT B-NP +Ocean NNP I-NP +State NNP I-NP +Power NNP I-NP +project NN I-NP +for IN B-PP +the DT B-NP +second JJ I-NP +phase NN I-NP +of IN B-PP +an DT B-NP +independent JJ I-NP +$ $ I-NP +400 CD I-NP +million CD I-NP +power NN I-NP +plant NN I-NP +, , O +which WDT B-NP +is VBZ B-VP +being VBG I-VP +built VBN I-VP +in IN B-PP +Burrillville NNP B-NP +, , O +R.I NNP B-NP +. . O + +GE NNP B-NP +, , O +along IN B-ADVP +with IN B-PP +a DT B-NP +division NN I-NP +of IN B-PP +Ebasco NNP B-NP +, , O +a DT B-NP +subsidiary NN I-NP +of IN B-PP +Enserch NNP B-NP +Corp. NNP I-NP +, , O +have VBP B-VP +been VBN I-VP +building VBG I-VP +the DT B-NP +first JJ I-NP +250-megawatt JJ I-NP +phase NN I-NP +of IN B-PP +the DT B-NP +project NN I-NP +, , O +which WDT B-NP +they PRP B-NP +expect VBP B-VP +to TO I-VP +complete VB I-VP +in IN B-PP +late JJ B-NP +1990 CD I-NP +. . O + +The DT B-NP +second JJ I-NP +portion NN I-NP +will MD B-VP +be VB I-VP +completed VBN I-VP +the DT B-NP +following VBG I-NP +year NN I-NP +. . O + +GE NNP B-NP +'s POS B-NP +Power NNP I-NP +Generation NNP I-NP +subsidiary NN I-NP +will MD B-VP +operate VB I-VP +and CC I-VP +maintain VB I-VP +the DT B-NP +plant NN I-NP +upon IN B-PP +its PRP$ B-NP +completion NN I-NP +. . O + +The DT B-NP +Environmental NNP I-NP +Protection NNP I-NP +Agency NNP I-NP +is VBZ B-VP +getting VBG I-VP +a DT B-NP +lot NN I-NP +out IN B-PP +of IN B-PP +the DT B-NP +Superfund NNP I-NP +program NN I-NP +. . O + +Of IN B-PP +the DT B-NP +$ $ I-NP +4.4 CD I-NP +billion CD I-NP +spent VBD B-VP +so RB B-ADVP +far RB I-ADVP +on IN B-PP +the DT B-NP +program NN I-NP +, , O +60 CD B-NP +% NN I-NP +is VBZ B-VP +going VBG I-VP +for IN B-PP +administrative JJ B-NP +costs NNS I-NP +, , O +management NN B-NP +and CC O +research NN B-NP +, , O +the DT B-NP +Office NNP I-NP +of IN B-PP +Technology NNP B-NP +Assessment NNP I-NP +just RB B-ADVP +reported VBD B-VP +. . O + +Only RB B-NP +36 CD I-NP +of IN I-NP +1,200 CD I-NP +priority NN I-NP +cleanup NN I-NP +sites NNS I-NP +have VBP B-VP +been VBN I-VP +`` `` O +decontaminated VBN B-VP +. . O +'' '' O + +Over IN B-PP +the DT B-NP +next JJ I-NP +50 CD I-NP +years NNS I-NP +, , O +$ $ B-NP +500 CD I-NP +billion CD I-NP +is VBZ B-VP +earmarked VBN I-VP +for IN B-PP +the DT B-NP +program NN I-NP +. . O + +At IN B-PP +current JJ B-NP +allocations NNS I-NP +, , O +that WDT B-NP +means VBZ B-VP +EPA NNP B-NP +will MD B-VP +be VB I-VP +spending NN I-VP +$ $ B-NP +300 CD I-NP +billion CD I-NP +on IN B-PP +itself PRP B-NP +. . O + +It PRP B-NP +may MD B-VP +not RB I-VP +be VB I-VP +toxic JJ B-ADJP +, , O +but CC O +we PRP B-NP +know VBP B-VP +where WRB B-ADVP +one CD B-NP +waste NN I-NP +dump NN I-NP +is NNS B-VP +. . O + +Chambers NNP B-NP +Development NNP I-NP +Co. NNP I-NP +said VBD B-VP +its PRP$ B-NP +Security NNP I-NP +Bureau NNP I-NP +Inc. NNP I-NP +unit NN I-NP +purchased VBN B-VP +two CD B-NP +security NN I-NP +concerns NNS I-NP +in IN B-PP +Florida NNP B-NP +that WDT B-NP +will MD B-VP +add VB I-VP +$ $ B-NP +2.1 CD I-NP +million CD I-NP +of IN B-PP +annual JJ B-NP +revenue NN I-NP +. . O + +Purchase NNP B-NP +of IN B-PP +the DT B-NP +businesses NNS I-NP +serving VBG B-VP +Miami NNP B-NP +, , O +Fort NNP B-NP +Lauderdale NNP I-NP +and CC O +West NNP B-NP +Palm NNP I-NP +Beach NNP I-NP +, , O +Fla. NNP B-NP +, , O +is VBZ B-VP +part NN B-NP +of IN B-PP +a DT B-NP +plan NN I-NP +by IN B-PP +Chambers NNP B-NP +to TO B-VP +expand VB I-VP +in IN B-PP +the DT B-NP +growing VBG I-NP +security NN I-NP +industry NN I-NP +. . O + +Terms NNS B-NP +were VBD B-VP +n't RB I-VP +disclosed VBN I-VP +. . O + +Basf NNP B-NP +AG NNP I-NP +said VBD B-VP +it PRP B-NP +moved VBD B-VP +its PRP$ B-NP +headquarters NN I-NP +for IN B-PP +Latin NNP B-NP +America NNP I-NP +to TO B-PP +Mexico NNP B-NP +and CC O +the DT B-NP +headquarters NN I-NP +for IN B-PP +the DT B-NP +Asia\/Australia NNP I-NP +regional JJ I-NP +division NN I-NP +to TO B-PP +Singapore NNP B-NP +, , O +effective JJ B-ADJP +Oct NNP B-NP +. . O + +The DT B-NP +central JJ I-NP +offices NNS I-NP +for IN B-PP +both DT B-NP +regions NNS I-NP +were VBD B-VP +previously RB I-VP +located VBN I-VP +in IN B-PP +Ludwigshafen NNP B-NP +, , O +Basf NNP B-NP +headquarters NN I-NP +. . O + +The DT B-NP +West JJ I-NP +German JJ I-NP +chemical NN I-NP +concern NN I-NP +called VBD B-VP +the DT B-NP +moves NNS I-NP +a DT B-NP +further JJ I-NP +step NN I-NP +in IN B-PP +the DT B-NP +internationalization NN I-NP +of IN B-PP +its PRP$ B-NP +business NN I-NP +activities NNS I-NP +. . O + +Both DT B-NP +regions NNS I-NP +are VBP B-VP +the DT B-NP +fastest-growing JJ I-NP +areas NNS I-NP +for IN B-PP +Basf NNP B-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +. . O + +David NNP B-NP +H. NNP I-NP +Eisenberg NNP I-NP +, , O +53 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +was VBD B-VP +named VBN I-VP +president NN B-NP +and CC O +chief JJ B-NP +operating VBG I-NP +officer NN I-NP +of IN B-PP +Imasco NNP B-NP +'s POS B-NP +500-store JJ I-NP +Peoples NNP I-NP +Drug NNP I-NP +Stores NNP I-NP +Inc. NNP I-NP +unit NN I-NP +, , O +based VBN B-VP +in IN B-PP +Alexandria NNP B-NP +, , O +Va NNP B-NP +. . O + +Mr. NNP B-NP +Eisenberg NNP I-NP +was VBD B-VP +senior JJ B-NP +executive JJ I-NP +vice NN I-NP +president NN I-NP +and CC O +chief JJ B-NP +operating VBG I-NP +officer NN I-NP +. . O + +Imasco NNP B-NP +is VBZ B-VP +a DT B-NP +tobacco NN I-NP +, , I-NP +retailing NN I-NP +, , I-NP +restaurant NN I-NP +and CC I-NP +financial JJ I-NP +services NNS I-NP +concern VBP I-NP +. . O + +Lotus NNP B-NP +Development NNP I-NP +Corp. NNP I-NP +is VBZ B-VP +in IN B-PP +talks NNS B-NP +to TO B-VP +sell VB I-VP +its PRP$ B-NP +Signal NNP I-NP +stock-quote JJ I-NP +service NN I-NP +to TO B-PP +Infotechnology NNP B-NP +Inc. NNP I-NP +, , O +the DT B-NP +New NNP I-NP +York NNP I-NP +parent NN I-NP +of IN B-PP +Financial NNP B-NP +News NNP I-NP +Network NNP I-NP +, , O +people NNS B-NP +familiar JJ B-ADJP +with IN B-PP +the DT B-NP +negotiations NNS I-NP +said VBD B-VP +. . O + +They PRP B-NP +said VBD B-VP +the DT B-NP +price NN I-NP +would MD B-VP +be VB I-VP +around IN B-NP +$ $ I-NP +10 CD I-NP +million CD I-NP +. . O + +Signal NNP B-NP +, , O +which WDT B-NP +has VBZ B-VP +an DT B-NP +estimated VBN I-NP +10,000 CD I-NP +subscribers NNS I-NP +and CC O +is VBZ B-VP +profitable JJ B-ADJP +, , O +provides VBZ B-VP +stock NN B-NP +quotes NNS I-NP +over IN B-PP +an DT B-NP +FM NNP I-NP +radio NN I-NP +band NN I-NP +that WDT B-NP +can MD B-VP +be VB I-VP +received VBN I-VP +by IN B-PP +specially RB B-NP +equipped VBN I-NP +personal JJ I-NP +computers NNS I-NP +. . O + +The DT B-NP +computers NNS I-NP +will MD B-VP +display VB I-VP +stock NN B-NP +prices NNS I-NP +selected VBN B-VP +by IN B-PP +users NNS B-NP +. . O + +Lotus NNP B-NP +, , O +Cambridge NNP B-NP +, , O +Mass. NNP B-NP +, , O +has VBZ B-VP +been VBN I-VP +rumored VBN I-VP +to TO I-VP +have VB I-VP +the DT B-NP +sale NN I-NP +of IN B-PP +the DT B-NP +four-year-old JJ I-NP +unit NN I-NP +under IN B-PP +consideration NN B-NP +for IN B-PP +a DT B-NP +year NN I-NP +. . O + +The DT B-NP +business NN I-NP +is VBZ B-VP +n't RB O +related VBN B-ADJP +to TO B-PP +Lotus NNP B-NP +'s POS B-NP +main JJ I-NP +businesses NNS I-NP +of IN B-PP +making VBG B-VP +computer NN B-NP +software NN I-NP +and CC O +publishing NN B-VP +information NN B-NP +on IN B-PP +compact JJ B-NP +disks NNS I-NP +. . O + +`` `` O +Please VB B-INTJ +submit VB B-VP +your PRP$ B-NP +offers NNS I-NP +, , O +'' '' O +says VBZ B-VP +Felipe NNP B-NP +Bince NNP I-NP +Jr NNP I-NP +. . O + +He PRP B-NP +surveys VBZ B-VP +the DT B-NP +prospective JJ I-NP +investors NNS I-NP +gathered VBD B-VP +in IN B-PP +the DT B-NP +board NN I-NP +room NN I-NP +of IN B-PP +the DT B-NP +Philippine JJ I-NP +government NN I-NP +'s POS B-NP +Asset NNP I-NP +Privatization NNP I-NP +Trust NNP I-NP +for IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +a DT B-NP +36 CD I-NP +% NN I-NP +interest NN I-NP +in IN B-PP +the DT B-NP +country NN I-NP +'s POS B-NP +largest JJS I-NP +paper NN I-NP +mill NN I-NP +. . O + +The DT B-NP +agency NN I-NP +expects VBZ B-VP +the DT B-NP +bids NNS I-NP +to TO B-VP +be VB I-VP +equivalent NN B-ADJP +of IN B-PP +more JJR B-NP +than IN I-NP +$ $ I-NP +80 CD I-NP +million CD I-NP +. . O + +Not RB B-NP +a DT I-NP +peso NN I-NP +is VBZ B-VP +offered VBN I-VP +. . O + +Mr. NNP B-NP +Bince NNP I-NP +, , O +the DT B-NP +trust NN I-NP +'s POS B-NP +associate JJ I-NP +executive JJ I-NP +trustee NN I-NP +, , O +declares VBZ B-VP +the DT B-NP +bidding VBG I-NP +a DT B-NP +failure NN I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +getting VBG I-VP +harder JJR B-ADJP +to TO B-VP +sell VB I-VP +, , O +'' '' O +he PRP B-NP +mutters VBZ B-VP +as IN B-SBAR +he PRP B-NP +leaves VBZ B-VP +the DT B-NP +room NN I-NP +. . O + +Indeed RB B-INTJ +. . O +Recently RB B-ADVP +, , O +the DT B-NP +trust NN I-NP +failed VBD B-VP +to TO I-VP +auction VB I-VP +off IN B-PRT +the DT B-NP +paper NN I-NP +mill NN I-NP +, , O +a DT B-NP +bank NN I-NP +, , O +an DT B-NP +office NN I-NP +building NN I-NP +and CC O +a DT B-NP +small JJ I-NP +cotton-ginning JJ I-NP +plant NN I-NP +. . O + +Of IN B-PP +the DT B-NP +four CD I-NP +, , O +only RB B-NP +the DT B-NP +bank NN I-NP +and CC O +the DT B-NP +plant NN I-NP +drew VBD B-VP +bids NNS B-NP +-- : O +one CD B-NP +apiece RB B-ADVP +. . O + +In IN B-PP +October NNP B-NP +1987 CD I-NP +, , O +President NNP B-NP +Corazon NNP I-NP +Aquino NNP I-NP +vowed VBD B-VP +that IN O +her PRP$ B-NP +government NN I-NP +would MD B-VP +`` `` I-VP +get VB I-VP +out IN B-ADVP +of IN B-PP +business NN B-NP +'' '' O +by IN B-PP +selling VBG B-VP +all DT B-NP +or CC I-NP +part NN I-NP +of IN B-PP +the DT B-NP +state NN I-NP +'s POS B-NP +holdings NNS I-NP +in IN B-PP +the DT B-NP +many JJ I-NP +companies NNS I-NP +taken VBN B-VP +over IN B-PRT +by IN B-PP +the DT B-NP +government NN I-NP +during IN B-PP +the DT B-NP +20-year JJ I-NP +rule NN I-NP +of IN B-PP +Ferdinand NNP B-NP +Marcos NNP I-NP +. . O + +Two CD B-NP +years NNS I-NP +later RB B-ADVP +, , O +Mrs. NNP B-NP +Aquino NNP I-NP +'s POS B-NP +promise NN I-NP +remains VBZ B-VP +largely RB B-ADJP +unfulfilled JJ I-ADJP +. . O + +October NNP B-NP +is VBZ B-VP +a DT B-NP +critical JJ I-NP +month NN I-NP +for IN B-PP +the DT B-NP +privatization NN I-NP +program NN I-NP +. . O + +Manila NNP B-NP +is VBZ B-VP +offering VBG I-VP +several JJ B-NP +major JJ I-NP +assets NNS I-NP +for IN B-PP +the DT B-NP +first JJ I-NP +time NN I-NP +and CC O +is VBZ B-VP +trying VBG I-VP +to TO I-VP +conclude VB I-VP +sales NNS B-NP +already RB B-VP +arranged VBN I-VP +. . O + +In IN B-PP +addition NN B-NP +, , O +the DT B-NP +government NN I-NP +is VBZ B-VP +scheduled VBN I-VP +to TO I-VP +unveil VB I-VP +plans NNS B-NP +for IN B-PP +privatizing VBG B-VP +Philippine JJ B-NP +Airlines NNPS I-NP +, , O +the DT B-NP +national JJ I-NP +carrier NN I-NP +, , O +an DT B-NP +effort NN I-NP +that DT B-NP +lawyer NN B-NP +and CC I-NP +business NN I-NP +columnist NN I-NP +Rodolfo NNP I-NP +Romero NNP I-NP +calls VBZ B-VP +`` `` O +the DT B-NP +bellwether NN I-NP +of IN B-PP +privatization NN B-NP +. . O +'' '' O + +All DT B-NP +told VBD B-VP +, , O +there EX B-NP +are VBP B-VP +assets NNS B-NP +on IN B-PP +the DT B-NP +line NN I-NP +valued VBN B-VP +at IN B-PP +up IN B-NP +to TO I-NP +$ $ I-NP +1.03 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +privatization NN I-NP +program NN I-NP +is VBZ B-VP +designed VBN I-VP +to TO I-VP +rid VB I-VP +the DT B-NP +government NN I-NP +of IN B-PP +hundreds NNS B-NP +of IN B-PP +assets NNS B-NP +and CC O +to TO B-VP +raise VB I-VP +critically RB B-NP +needed VBN I-NP +funds NNS I-NP +. . O + +Much RB B-NP +of IN B-PP +the DT B-NP +money NN I-NP +from IN B-PP +the DT B-NP +sales NNS I-NP +is VBZ B-VP +earmarked VBN I-VP +for IN B-PP +a DT B-NP +multibillion-dollar JJ I-NP +agrarian-reform JJ I-NP +program NN I-NP +. . O + +But CC O +efforts NNS B-NP +have VBP B-VP +been VBN I-VP +thwarted VBN I-VP +by IN B-PP +official JJ B-NP +indifference NN I-NP +, , O +bureaucratic JJ B-NP +resistance NN I-NP +, , O +a DT B-NP +legal JJ I-NP +system NN I-NP +that WDT B-NP +operates VBZ B-VP +at IN B-PP +a DT B-NP +snail NN I-NP +'s POS B-NP +pace NN I-NP +, , O +political JJ B-NP +opposition NN I-NP +and CC O +government NN B-NP +misjudgments NNS I-NP +. . O + +Most JJS B-ADVP +recently RB I-ADVP +, , O +a DT B-NP +lack NN I-NP +of IN B-PP +buyers NNS B-NP +has VBZ B-VP +been VBN I-VP +added VBN I-VP +to TO B-PP +the DT B-NP +list NN I-NP +. . O + +Rather RB B-PP +than IN I-PP +gathering NN B-VP +momentum NN B-NP +, , O +the DT B-NP +program NN I-NP +is VBZ B-VP +in IN B-PP +danger NN B-NP +of IN B-PP +slowing VBG B-VP +even RB B-ADVP +more JJR I-ADVP +as IN B-SBAR +the DT B-NP +government NN I-NP +tackles VBZ B-VP +several JJ B-NP +big JJ I-NP +assets NNS I-NP +. . O + +The DT B-NP +axiom NN I-NP +appears VBZ B-VP +to TO I-VP +be VB I-VP +that IN B-SBAR +the DT O +more RBR O +valuable JJ O +the DT B-NP +asset NN I-NP +, , O +the DT O +harder JJR O +the DT B-NP +privatization NN I-NP +process NN I-NP +. . O + +`` `` O +You PRP B-NP +just RB B-ADVP +do VBP B-VP +n't RB I-VP +see VB I-VP +a DT B-NP +whole JJ I-NP +lot NN I-NP +happening VBG B-VP +, , O +'' '' O +says VBZ B-VP +an DT B-NP +international JJ I-NP +economist NN I-NP +. . O + +To TO B-VP +be VB I-VP +sure JJ B-ADJP +, , O +the DT B-NP +program NN I-NP +has VBZ B-VP +n't RB I-VP +completely RB I-VP +stalled VBN I-VP +. . O + +The DT B-NP +Asset NNP I-NP +Privatization NNP I-NP +Trust NNP I-NP +, , O +the DT B-NP +agency NN I-NP +chiefly RB B-ADJP +responsible JJ I-ADJP +for IN B-PP +selling VBG B-VP +government-held JJ B-NP +properties NNS I-NP +, , O +has VBZ B-VP +recorded VBN I-VP +sales NNS B-NP +of IN B-PP +more JJR B-NP +than IN I-NP +$ $ I-NP +500 CD I-NP +million CD I-NP +since IN B-SBAR +it PRP B-NP +began VBD B-VP +functioning VBG I-VP +in IN B-PP +December NNP B-NP +1986 CD I-NP +. . O + +But CC O +its PRP$ B-NP +success NN I-NP +has VBZ B-VP +been VBN I-VP +largely RB B-ADVP +in IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +small JJ B-NP +, , I-NP +nonperforming JJ I-NP +companies NNS I-NP +, , O +which WDT B-NP +are VBP B-VP +valued VBN I-VP +for IN B-PP +their PRP$ B-NP +assets NNS I-NP +. . O + +Dealing VBG B-VP +with IN B-PP +the DT B-NP +sales NNS I-NP +this DT B-NP +month NN I-NP +could MD B-VP +be VB I-VP +particularly RB B-ADJP +challenging VBG I-ADJP +because IN B-SBAR +almost RB B-NP +every DT I-NP +problem NN I-NP +that WDT B-NP +has VBZ B-VP +hobbled VBN I-VP +the DT B-NP +program NN I-NP +in IN B-PP +the DT B-NP +past NN I-NP +is VBZ B-VP +popping VBG I-VP +up IN B-PRT +again RB B-ADVP +. . O + +Ramon NNP B-NP +Garcia NNP I-NP +, , O +the DT B-NP +Asset NNP I-NP +Trust NNP I-NP +'s POS B-NP +executive JJ I-NP +trustee NN I-NP +, , O +admits VBZ B-VP +to TO B-PP +what WP B-NP +he PRP B-NP +calls VBZ B-VP +`` `` O +temporary JJ B-NP +setbacks NNS I-NP +. . O +'' '' O + +In IN B-PP +light NN B-NP +of IN B-PP +the DT B-NP +poor JJ I-NP +results NNS I-NP +recently RB B-ADVP +, , O +he PRP B-NP +says VBZ B-VP +, , O +the DT B-NP +agency NN I-NP +is VBZ B-VP +adopting VBG I-VP +an DT B-NP +`` `` I-NP +attitude NN I-NP +of IN B-PP +flexibility NN B-NP +. . O +'' '' O + +October NNP B-NP +'s POS B-NP +troubles NNS I-NP +began VBD B-VP +when WRB B-ADVP +the DT B-NP +trust NN I-NP +failed VBD B-VP +to TO I-VP +sell VB I-VP +a DT B-NP +state-owned JJ I-NP +commercial JJ I-NP +bank NN I-NP +, , O +Associated NNP B-NP +Bank NNP I-NP +, , O +for IN B-PP +the DT B-NP +minimum JJ I-NP +price NN I-NP +of IN B-PP +671 CD B-NP +million CD I-NP +pesos NNS I-NP +-LRB- ( O +$ $ B-NP +31 CD I-NP +million CD I-NP +-RRB- ) O +. . O + +At IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +month NN I-NP +, , O +the DT B-NP +agency NN I-NP +again RB B-ADVP +will MD B-VP +offer VB I-VP +the DT B-NP +bank NN I-NP +. . O + +But CC O +instead RB B-PP +of IN I-PP +a DT B-NP +minimum JJ I-NP +price NN I-NP +, , O +only RB B-NP +a DT I-NP +target NN I-NP +price NN I-NP +will MD B-VP +be VB I-VP +established VBN I-VP +. . O + +Bankers NNS B-NP +say VBP B-VP +, , O +however RB B-ADVP +, , O +that IN B-SBAR +the DT B-NP +government NN I-NP +may MD B-VP +have VB I-VP +difficulty NN B-NP +selling VBG B-VP +the DT B-NP +institution NN I-NP +even RB B-ADVP +without IN B-PP +a DT B-NP +floor NN I-NP +price NN I-NP +. . O + +The DT B-NP +bank NN I-NP +has VBZ B-VP +a DT B-NP +negative JJ I-NP +net JJ I-NP +worth NN I-NP +, , O +they PRP B-NP +say VBP B-VP +. . O + +In IN B-PP +addition NN B-NP +, , O +special JJ B-NP +bidding NN I-NP +rules NNS I-NP +give VBP B-VP +the DT B-NP +bank NN I-NP +'s POS B-NP +former JJ I-NP +owner NN I-NP +, , O +Leonardo NNP B-NP +Ty NNP I-NP +, , O +the DT B-NP +right NN I-NP +to TO B-VP +match VB I-VP +the DT B-NP +highest JJS I-NP +bid NN I-NP +. . O + +Mr. NNP B-NP +Ty NNP I-NP +lost VBD B-VP +control NN B-NP +to TO B-PP +the DT B-NP +government NN I-NP +in IN B-PP +1980 CD B-NP +when WRB B-ADVP +a DT B-NP +government NN I-NP +bank NN I-NP +made VBD B-VP +emergency NN B-NP +loans NNS I-NP +to TO B-PP +the DT B-NP +cash-strapped JJ I-NP +institution NN I-NP +. . O + +In IN B-PP +1983 CD B-NP +, , O +the DT B-NP +loans NNS I-NP +were VBD B-VP +converted VBN I-VP +into IN B-PP +equity NN B-NP +, , O +giving VBG B-VP +Manila NNP B-NP +98 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +bank NN I-NP +, , O +but CC O +with IN B-PP +the DT B-NP +understanding NN I-NP +that IN B-SBAR +Mr. NNP B-NP +Ty NNP I-NP +had VBD B-VP +repurchase NN B-NP +rights NNS I-NP +. . O + +His PRP$ B-NP +ability NN I-NP +to TO B-VP +match VB I-VP +any DT B-NP +bid NN I-NP +has VBZ B-VP +scared VBN I-VP +off IN B-PRT +many JJ B-NP +potential JJ I-NP +buyers NNS I-NP +. . O + +Separately RB B-ADVP +, , O +the DT B-NP +government NN I-NP +will MD B-VP +try VB I-VP +again RB B-ADVP +within IN B-PP +a DT B-NP +month NN I-NP +to TO B-VP +sell VB I-VP +the DT B-NP +36 CD I-NP +% NN I-NP +stake NN I-NP +in IN B-PP +Paper NNP B-NP +Industries NNP I-NP +Corp. NNP I-NP +of IN B-PP +the DT B-NP +Philippines NNP I-NP +, , O +or CC O +Picop NNP B-NP +, , O +as IN B-SBAR +the DT B-NP +paper NN I-NP +mill NN I-NP +is VBZ B-VP +known VBN I-VP +. . O + +The DT B-NP +price NN I-NP +will MD B-VP +depend VB I-VP +on IN B-PP +how WRB B-NP +much JJ I-NP +Picop NNP B-NP +shares NNS I-NP +fetch VBP B-VP +on IN B-PP +the DT B-NP +local JJ I-NP +stock NN I-NP +market NN I-NP +. . O + +But CC O +according VBG B-PP +to TO B-PP +bankers NNS B-NP +and CC O +stock NN B-NP +analysts NNS I-NP +who WP B-NP +have VBP B-VP +studied VBN I-VP +the DT B-NP +paper NN I-NP +mill NN I-NP +, , O +price NN B-NP +is VBZ B-VP +n't RB O +the DT B-NP +only JJ I-NP +consideration NN I-NP +. . O + +As IN B-SBAR +it PRP B-NP +stands VBZ B-VP +now RB B-ADVP +, , O +the DT B-NP +government NN I-NP +would MD B-VP +continue VB I-VP +to TO I-VP +hold VB I-VP +45 CD B-NP +% NN I-NP +of IN B-PP +Picop NNP B-NP +after IN B-SBAR +the DT B-NP +36 CD I-NP +% NN I-NP +stake NN I-NP +is VBZ B-VP +sold VBN I-VP +. . O + +-LRB- ( O +About IN B-NP +7.5 CD I-NP +% NN I-NP +of IN B-PP +Picop NNP B-NP +is VBZ B-VP +publicly RB I-VP +traded VBN I-VP +and CC O +other JJ B-NP +shareholders NNS I-NP +own VB B-VP +the DT B-NP +rest NN I-NP +of IN B-PP +the DT B-NP +equity NN I-NP +. . O +-RRB- ) O + +Potential JJ B-NP +buyers NNS I-NP +, , B-NP +mostly RB I-NP +foreign JJ B-NP +companies NNS I-NP +, , O +are VBP B-VP +reluctant JJ B-ADJP +to TO B-VP +take VB I-VP +a DT B-NP +non-controlling JJ I-NP +stake NN I-NP +in IN B-PP +a DT B-NP +company NN I-NP +that IN B-NP +, , O +by IN B-PP +the DT B-NP +government NN I-NP +'s POS B-NP +own JJ I-NP +reckoning NN I-NP +, , O +needs VBZ B-VP +some DT B-NP +$ $ I-NP +100 CD I-NP +million CD I-NP +in IN B-PP +new JJ B-NP +capital NN I-NP +for IN B-PP +rehabilitation NN B-NP +. . O + +The DT B-NP +prospect NN I-NP +of IN B-PP +buying VBG B-VP +into IN B-PP +a DT B-NP +cash-hungry JJ I-NP +company NN I-NP +without IN B-PP +getting VBG B-VP +management NN B-NP +control NN I-NP +persuaded VBN B-VP +at IN B-NP +least JJS I-NP +three CD I-NP +foreign JJ I-NP +buyers NNS I-NP +, , O +including VBG B-PP +a DT B-NP +member NN I-NP +of IN B-PP +the DT B-NP +Elders NNP I-NP +group NN I-NP +of IN B-PP +Australia NNP B-NP +, , O +to TO B-VP +pull VB I-VP +out IN B-ADVP +of IN B-PP +the DT B-NP +bidding NN I-NP +, , O +the DT B-NP +bankers NNS I-NP +and CC I-NP +analysts NNS I-NP +say VBP B-VP +. . O + +Mr. NNP B-NP +Garcia NNP I-NP +acknowledges VBZ B-VP +the DT B-NP +problem NN I-NP +and CC O +says VBZ B-VP +the DT B-NP +Asset NNP I-NP +Trust NNP I-NP +will MD B-VP +study VB I-VP +why WRB B-ADVP +the DT B-NP +bidding NN I-NP +failed VBD B-VP +and CC O +what WP B-NP +changes VBZ I-NP +the DT B-NP +agency NN I-NP +may MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +offer VB I-VP +. . O + +Under IN B-PP +government NN B-NP +regulations NNS I-NP +, , O +however RB B-ADVP +, , O +foreign JJ B-NP +ownership NN I-NP +of IN B-PP +Picop NNP B-NP +'s POS B-NP +equity NN I-NP +is VBZ B-VP +limited JJ I-VP +to TO B-PP +40 CD B-NP +% NN I-NP +. . O + +Even RB B-SBAR +though IN I-SBAR +the DT B-NP +government NN I-NP +would MD B-VP +retain VB I-VP +the DT B-NP +45 CD I-NP +% NN I-NP +stake NN I-NP +in IN B-PP +Picop NNP B-NP +, , O +critics NNS B-NP +have VBP B-VP +accused VBN I-VP +the DT B-NP +trust NN I-NP +of IN B-PP +selling VBG B-VP +out RP B-PRT +to TO B-PP +foreigners NNS B-NP +. . O + +A DT B-NP +series NN I-NP +of IN B-PP +newspaper NN B-NP +articles NNS I-NP +accused VBD B-VP +the DT B-NP +trust NN I-NP +of IN B-PP +short-changing JJ B-VP +the DT B-NP +government NN I-NP +over IN B-PP +the DT B-NP +Picop NNP I-NP +sale NN I-NP +. . O + +Mr. NNP B-NP +Garcia NNP I-NP +says VBZ B-VP +he PRP B-NP +has VBZ B-VP +been VBN I-VP +notified VBN I-VP +of IN B-PP +congressional JJ B-NP +hearings NNS I-NP +on IN B-PP +the DT B-NP +Picop NNP I-NP +bidding NN I-NP +and CC O +possible JJ B-NP +legislation NN I-NP +covering VBG B-VP +the DT B-NP +paper NN I-NP +mill NN I-NP +'s POS B-NP +sale NN I-NP +, , O +both DT B-NP +prompted VBN B-VP +by IN B-PP +the DT B-NP +criticism NN I-NP +of IN B-PP +the DT B-NP +agency NN I-NP +. . O + +The DT B-NP +question NN I-NP +of IN B-PP +control NN B-NP +could MD B-VP +further VB I-VP +hinder VB I-VP +long-delayed JJ B-NP +plans NNS I-NP +for IN B-SBAR +the DT B-NP +government NN I-NP +to TO B-VP +divest VB I-VP +itself PRP B-NP +of IN B-PP +Philippine JJ B-NP +Airlines NNPS I-NP +, , O +in IN B-PP +which WDT B-NP +it PRP B-NP +has VBZ B-VP +a DT B-NP +99 CD I-NP +% NN I-NP +stake NN I-NP +. . O + +The DT B-NP +carrier NN I-NP +has VBZ B-VP +valuable JJ B-NP +trans-Pacific JJ I-NP +and CC I-NP +Asian JJ I-NP +routes NNS I-NP +but CC O +it PRP B-NP +remains VBZ B-VP +debt-laden JJ B-ADJP +and CC O +poorly RB B-ADJP +managed VBD I-ADJP +. . O + +This DT B-NP +maker NN I-NP +of IN B-PP +electronic JJ B-NP +measuring NN I-NP +devices NNS I-NP +named VBN B-VP +two CD B-NP +new JJ I-NP +directors NNS I-NP +, , O +increasing VBG B-VP +board NN B-NP +membership NN I-NP +to TO B-PP +nine CD B-NP +. . O + +The DT B-NP +new JJ I-NP +directors NNS I-NP +are VBP B-VP +Gordon NNP B-NP +M. NNP I-NP +Sprenger NNP I-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +LifeSpan NNP B-NP +Inc. NNP I-NP +, , O +and CC O +Peter NNP B-NP +S. NNP I-NP +Willmott NNP I-NP +, , O +chairman NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +Willmott NNP B-NP +Services NNP I-NP +Inc NNP I-NP +. . O + +Gerard NNP B-NP +E. NNP I-NP +Wood NNP I-NP +, , O +51 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +was VBD B-VP +elected VBN I-VP +president NN B-NP +, , O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +and CC O +a DT B-NP +director NN I-NP +of IN B-PP +this DT B-NP +minerals NNS I-NP +and CC I-NP +materials NNS I-NP +company NN I-NP +. . O + +He PRP B-NP +succeeds VBZ B-VP +Harry NNP B-NP +A. NNP I-NP +Durney NNP I-NP +, , O +65 CD B-NP +, , O +who WP B-NP +is VBZ B-VP +retiring VBG I-VP +from IN B-PP +active JJ B-NP +duty NN I-NP +but CC O +remains VBZ B-VP +a DT B-NP +director NN I-NP +and CC I-NP +consultant NN I-NP +. . O + +Mr. NNP B-NP +Wood NNP I-NP +has VBZ B-VP +been VBN I-VP +president NN B-NP +and CC O +chief JJ B-NP +executive NN I-NP +of IN B-PP +Steep NNP B-NP +Rock NNP I-NP +Resources NNP I-NP +Inc NNP I-NP +. . O + +Eagle NNP B-NP +Financial NNP I-NP +Corp. NNP I-NP +and CC O +Webster NNP B-NP +Financial NNP I-NP +Corp. NNP I-NP +, , O +two CD B-NP +Connecticut NNP I-NP +savings NNS I-NP +bank-holding JJ I-NP +companies NNS I-NP +, , O +agreed VBD B-VP +to TO I-VP +merge VB I-VP +in IN B-PP +a DT B-NP +tax-free JJ I-NP +stock NN I-NP +transaction NN I-NP +. . O + +The DT B-NP +new JJ I-NP +holding NN I-NP +company NN I-NP +, , O +Webster\/Eagle NNP B-NP +Bancorp NNP I-NP +Inc. NNP I-NP +, , O +will MD B-VP +have VB I-VP +about RB B-NP +$ $ I-NP +1.2 CD I-NP +billion CD I-NP +of IN B-PP +assets NNS B-NP +and CC O +19 CD B-NP +banking NN I-NP +offices NNS I-NP +in IN B-PP +Connecticut NNP B-NP +. . O + +Tangible JJ B-NP +capital NN I-NP +will MD B-VP +be VB I-VP +about RB B-NP +$ $ I-NP +115 CD I-NP +million CD I-NP +. . O + +The DT B-NP +merger NN I-NP +is VBZ B-VP +subject NN B-ADJP +to TO B-PP +regulatory JJ B-NP +clearance NN I-NP +and CC O +a DT B-NP +definitive JJ I-NP +agreement NN I-NP +. . O + +In IN B-PP +the DT B-NP +merger NN I-NP +, , O +each DT B-NP +share NN I-NP +of IN B-PP +Webster NNP B-NP +, , O +based VBN B-VP +in IN B-PP +Waterbury NNP B-NP +, , O +will MD B-VP +be VB I-VP +converted VBN I-VP +into IN B-PP +one CD B-NP +share NN I-NP +of IN B-PP +the DT B-NP +new JJ I-NP +company NN I-NP +. . O + +Each DT B-NP +share NN I-NP +of IN B-PP +Eagle NNP B-NP +, , O +based VBN B-VP +in IN B-PP +Bristol NNP B-NP +, , O +will MD B-VP +become VB I-VP +0.95 CD B-NP +share NN I-NP +of IN B-PP +Webster\/Eagle NNP B-NP +. . O + +In IN B-PP +American NNP B-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +Friday NNP B-NP +, , O +Eagle NNP B-NP +shares NNS I-NP +rose VBD B-VP +12.5 CD B-NP +cents NNS I-NP +to TO B-PP +$ $ B-NP +11 CD I-NP +. . O + +In IN B-PP +national JJ B-NP +over-the-counter JJ I-NP +trading NN I-NP +, , O +Webster NNP B-NP +shares NNS I-NP +fell VBD B-VP +25 CD B-NP +cents NNS I-NP +to TO B-PP +$ $ B-NP +12.375 CD I-NP +. . O + +Webster NNP B-NP +has VBZ B-VP +3.5 CD B-NP +million CD I-NP +shares NNS I-NP +outstanding JJ B-ADJP +and CC O +Eagle NNP B-NP +2.6 CD B-NP +million CD I-NP +. . O + +Their PRP$ B-NP +indicated VBD I-NP +market NN I-NP +values NNS I-NP +thus RB B-ADVP +are VBP B-VP +about RB B-NP +$ $ I-NP +43.3 CD I-NP +million CD I-NP +and CC I-NP +$ $ I-NP +28.6 CD I-NP +million CD I-NP +, , O +respectively RB B-ADVP +. . O + +Frank NNP B-NP +J. NNP I-NP +Pascale NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +Eagle NNP B-NP +, , O +will MD B-VP +be VB I-VP +chairman NN B-NP +of IN B-PP +the DT B-NP +new JJ I-NP +firm NN I-NP +and CC O +James NNP B-NP +C. NNP I-NP +Smith NNP I-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +Webster NNP B-NP +, , O +will MD B-VP +take VB I-VP +those DT B-NP +posts NNS I-NP +at IN B-PP +Webster\/Eagle NNP B-NP +. . O + +Harold NNP B-NP +W. NNP I-NP +Smith NNP I-NP +Sr. NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +Webster NNP B-NP +, , O +will MD B-VP +become VB I-VP +chairman NN B-NP +emeritus NN I-NP +and CC O +a DT B-NP +director NN I-NP +of IN B-PP +the DT B-NP +new JJ I-NP +company NN I-NP +. . O + +Ralph NNP B-NP +T. NNP I-NP +Linsley NNP I-NP +, , O +vice NN B-NP +chairman NN I-NP +of IN B-PP +Eagle NNP B-NP +, , O +will MD B-VP +become VB I-VP +vice NN B-NP +chairman NN I-NP +of IN B-PP +Webster\/Eagle NNP B-NP +. . O + +The DT B-NP +board NN I-NP +will MD B-VP +be VB I-VP +made VBN I-VP +up IN B-PRT +of IN B-PP +seven CD B-NP +directors NNS I-NP +of IN B-PP +each DT B-NP +holding VBG I-NP +company NN I-NP +. . O + +In IN B-PP +an DT B-NP +interview NN I-NP +, , O +James NNP B-NP +Smith NNP I-NP +said VBD B-VP +the DT B-NP +banks NNS I-NP +' POS B-NP +`` `` I-NP +markets NNS I-NP +are VBP B-VP +contiguous JJ B-ADJP +and CC O +their PRP$ B-NP +business NN I-NP +philosophies NNS I-NP +are VBP B-VP +similar JJ B-ADJP +and CC I-ADJP +conservative JJ I-ADJP +. . O +'' '' O + +Nonperforming JJ B-NP +loans NNS I-NP +will MD B-VP +make VB I-VP +up IN B-PRT +only RB B-NP +about IN I-NP +0.5 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +combined VBN I-NP +banks NNS I-NP +' POS B-NP +total JJ I-NP +loans NNS I-NP +outstanding JJ B-ADJP +, , O +he PRP B-NP +said VBD B-VP +. . O + +At IN B-PP +June NNP B-NP +30 CD I-NP +, , O +Webster NNP B-NP +, , O +which WDT B-NP +owns VBZ B-VP +First NNP B-NP +Federal NNP I-NP +Savings NNP I-NP +& CC I-NP +Loan NNP I-NP +Association NNP I-NP +of IN B-PP +Waterbury NNP B-NP +, , O +had VBD B-VP +assets NNS B-NP +of IN B-PP +$ $ B-NP +699 CD I-NP +million CD I-NP +. . O + +Eagle NNP B-NP +, , O +which WDT B-NP +controls VBZ B-VP +Bristol NNP B-NP +Federal NNP I-NP +Savings NNP I-NP +Bank NNP I-NP +and CC O +First NNP B-NP +Federal NNP I-NP +Savings NNP I-NP +& CC I-NP +Loan NNP I-NP +Association NNP I-NP +of IN B-PP +Torrington NNP B-NP +, , O +had VBD B-VP +assets NNS B-NP +of IN B-PP +$ $ B-NP +469.6 CD I-NP +million CD I-NP +on IN B-PP +that DT B-NP +date NN I-NP +. . O + +Guillermo NNP B-NP +Ortiz NNP I-NP +'s POS B-NP +Sept. NNP I-NP +15 CD I-NP +Americas NNP I-NP +column NN I-NP +, , O +`` `` O +Mexico NNP B-NP +'s POS B-VP +Been VBN I-VP +Bitten VBN I-VP +by IN B-PP +the DT B-NP +Privatization NN I-NP +Bug NN I-NP +, , O +'' '' O +is VBZ B-VP +a DT B-NP +refreshingly RB I-NP +clear JJ I-NP +statement NN I-NP +of IN B-PP +his PRP$ B-NP +government NN I-NP +'s POS B-NP +commitment NN I-NP +to TO B-PP +privatization NN B-NP +, , O +and CC O +must MD B-VP +be VB I-VP +welcomed VBN I-VP +as IN B-PP +such JJ B-NP +by IN B-PP +all DT B-NP +Americans NNPS I-NP +who WP B-NP +wish VBP B-VP +his PRP$ B-NP +country NN I-NP +well RB B-ADVP +. . O + +The DT B-NP +Mexico-United NNP I-NP +States NNP I-NP +Institute NNP I-NP +is VBZ B-VP +glad JJ B-ADJP +to TO B-VP +see VB I-VP +such JJ B-NP +a DT I-NP +high JJ I-NP +official NN I-NP +as IN B-PP +Mexico NNP B-NP +'s POS B-NP +undersecretary NN I-NP +of IN B-PP +finance NN B-NP +view VB B-VP +his PRP$ B-NP +country NN I-NP +'s POS B-NP +reforms NNS I-NP +`` `` O +in IN B-PP +the DT B-NP +context NN I-NP +of IN B-PP +a DT B-NP +larger JJR I-NP +, , I-NP +world-wide JJ I-NP +process NN I-NP +'' '' O +of IN B-PP +profound JJ B-NP +change NN I-NP +toward IN B-PP +free-market JJ B-NP +economics NNS I-NP +, , O +especially RB B-ADVP +in IN B-PP +the DT B-NP +statist JJ I-NP +countries NNS I-NP +. . O + +Having VBG B-VP +said VBN I-VP +that IN B-NP +, , O +we PRP B-NP +must MD B-VP +caution VB I-VP +against IN B-PP +an DT B-NP +apparent JJ I-NP +tendency NN I-NP +to TO B-VP +overstate VB I-VP +the DT B-NP +case NN I-NP +. . O + +It PRP B-NP +is VBZ B-VP +not RB O +quite RB B-ADJP +true JJ I-ADJP +, , O +for IN B-PP +example NN B-NP +, , O +that IN B-SBAR +the DT B-NP +Mexican JJ I-NP +government NN I-NP +has VBZ B-VP +`` `` I-VP +privatized VBN I-VP +'' '' O +Mexicana NNP B-NP +de FW I-NP +Aviacion NNP I-NP +, , O +as IN B-SBAR +Mr. NNP B-NP +Ortiz NNP I-NP +claims VBZ B-VP +. . O + +In IN B-PP +the DT B-NP +same JJ I-NP +sentence NN I-NP +he PRP B-NP +contradicts VBZ B-VP +himself PRP B-NP +when WRB B-ADVP +he PRP B-NP +reports VBZ B-VP +that IN B-SBAR +the DT B-NP +government NN I-NP +still RB B-ADVP +retains VBZ B-VP +40 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +total JJ I-NP +equity NN I-NP +of IN B-PP +the DT B-NP +airline NN I-NP +. . O + +How WRB B-ADVP +can MD O +a DT B-NP +company NN I-NP +be VB B-VP +considered VBN I-VP +`` `` O +privatized VBN B-ADJP +'' '' O +if IN B-SBAR +the DT B-NP +state NN I-NP +is VBZ B-VP +so RB I-VP +heavily RB I-VP +represented VBN I-VP +in IN B-PP +it PRP B-NP +? . O + +-LRB- ( O +True JJ B-INTJ +, , O +the DT B-NP +Mexican JJ I-NP +government NN I-NP +has VBZ B-VP +granted VBN I-VP +`` `` B-NP +control NN I-NP +'' '' O +over IN B-PP +the DT B-NP +airline NN I-NP +to TO B-PP +a DT B-NP +new JJ I-NP +private JJ I-NP +consortium NN I-NP +, , O +but CC O +its PRP$ B-NP +propensity NN I-NP +to TO B-VP +take VB I-VP +back RB B-ADVP +what WP B-NP +it PRP B-NP +gives VBZ B-VP +is VBZ B-VP +too RB I-VP +well RB I-VP +known VBN I-VP +to TO B-VP +permit VB I-VP +one CD B-NP +to TO B-VP +be VB I-VP +sanguine JJ B-ADJP +. . O +-RRB- ) O + +Regrettably RB B-ADVP +, , O +too RB B-ADVP +, , O +Mr. NNP B-NP +Ortiz NNP I-NP +resorts VBZ B-VP +to TO B-PP +the DT B-NP +familiar JJ I-NP +`` `` I-NP +numbers NNS I-NP +game NN I-NP +'' '' O +when WRB B-ADVP +he PRP B-NP +boasts VBZ B-VP +that IN B-SBAR +`` `` O +fewer JJR B-NP +than IN I-NP +392 CD I-NP +-LCB- ( O +state NN O +enterprises NNS O +-RCB- ) O +currently RB B-ADVP +remain VB B-VP +in IN B-PP +the DT B-NP +public JJ I-NP +sector NN I-NP +, , O +'' '' O +down RB B-ADVP +from IN B-PP +the DT B-NP +`` `` I-NP +1,155 CD I-NP +public JJ I-NP +entities NNS I-NP +that WDT B-NP +existed VBD B-VP +in IN B-PP +1982 CD B-NP +. . O + +'' '' O +But CC O +the DT B-NP +enterprises NNS I-NP +still RB B-ADVP +in IN B-PP +state NN B-NP +hands NNS I-NP +include VBP B-VP +the DT B-NP +biggest JJS I-NP +and CC I-NP +most RBS I-NP +economically RB I-NP +powerful JJ I-NP +ones NNS I-NP +in IN B-PP +Mexico NNP B-NP +; : O +indeed RB B-ADVP +, , O +they PRP B-NP +virtually RB B-ADVP +constitute VBP B-VP +the DT B-NP +economic JJ I-NP +infrastructure NN I-NP +. . O + +I PRP B-NP +refer VBP B-VP +essentially RB B-ADVP +to TO B-PP +petroleum NN B-NP +, , O +electric JJ B-NP +power NN I-NP +, , O +banking NN B-NP +and CC O +newsprint NN B-NP +. . O + +Those DT B-NP +enterprises NNS I-NP +, , O +however RB B-ADVP +, , O +are VBP B-VP +not RB I-VP +going VBG I-VP +to TO I-VP +be VB I-VP +privatized VBN I-VP +. . O + +They PRP B-NP +are VBP B-VP +officially RB I-VP +considered VBN I-VP +`` `` O +strategic JJ B-ADJP +, , O +'' '' O +and CC O +their PRP$ B-NP +privatization NN I-NP +is VBZ B-VP +prohibited VBN I-VP +by IN B-PP +the DT B-NP +Mexican JJ I-NP +Constitution NNP I-NP +. . O + +In IN B-PP +language NN B-NP +that WDT B-NP +sidesteps VBZ B-VP +the DT B-NP +issue NN I-NP +, , O +Mr. NNP B-NP +Ortiz NNP I-NP +writes VBZ B-VP +, , O +`` `` O +The DT B-NP +divestiture NN I-NP +of IN B-PP +nonpriority NN B-NP +and CC I-NP +nonstrategic JJ I-NP +public JJ I-NP +enterprises NNS I-NP +is VBZ B-VP +an DT B-NP +essential JJ I-NP +element NN I-NP +of IN B-PP +President NNP B-NP +Carlos NNP I-NP +Salinas NNP I-NP +'s POS B-NP +plan NN I-NP +to TO B-VP +modernize VB I-VP +Mexico NNP B-NP +'s POS B-NP +economy NN I-NP +... : O +. . O +'' '' O + +Yet RB O +clearly RB B-ADVP +, , O +modernization NN B-NP +must MD B-VP +embrace VB I-VP +its PRP$ B-NP +key JJ I-NP +industries NNS I-NP +before IN O +it PRP B-NP +can MD B-VP +be VB I-VP +said VB I-VP +to TO I-VP +have VB I-VP +caught VBN I-VP +the DT B-NP +`` `` I-NP +privatization NN I-NP +bug NN I-NP +. . O +'' '' O + +The DT B-NP +bottom NN I-NP +line NN I-NP +, , O +however RB B-ADVP +, , O +is VBZ B-VP +not RB O +economic JJ B-NP +but CC I-NP +political JJ I-NP +reform NN I-NP +. . O + +A DT B-NP +long JJ I-NP +succession NN I-NP +of IN B-PP +Mexican JJ B-NP +presidents NNS I-NP +arbitrarily RB B-VP +nationalized VBD I-VP +whatever WDT B-NP +industry NN I-NP +they PRP B-NP +took VBD B-VP +a DT B-NP +fancy JJ I-NP +to TO B-PP +, , O +without IN B-PP +having VBG B-VP +to TO I-VP +answer VB I-VP +to TO B-PP +the DT B-NP +public NN I-NP +. . O + +To TO B-VP +guarantee VB I-VP +that IN B-SBAR +Mexicana NNP B-NP +de FW I-NP +Aviacion NNP I-NP +and CC O +other JJ B-NP +companies NNS I-NP +will MD B-VP +really RB I-VP +be VB I-VP +privatized VBN I-VP +, , O +Mexico NNP B-NP +needs VBZ B-VP +a DT B-NP +pluri-party JJ I-NP +political JJ I-NP +system NN I-NP +that WDT B-NP +will MD B-VP +ensure VB I-VP +democracy NN B-NP +and CC B-NP +hence RB I-NP +accountability NN B-NP +. . O + +Daniel NNP B-NP +James NNP I-NP +President NNP B-NP +Mexico-United NNP B-NP +States NNP I-NP +Institute NNP I-NP + +The DT B-NP +board NN I-NP +of IN B-PP +this DT B-NP +Ponce NNP I-NP +, , I-NP +Puerto NNP I-NP +Rico NNP I-NP +concern NN I-NP +voted VBD B-VP +to TO I-VP +suspend VB I-VP +payment NN B-NP +of IN B-PP +its PRP$ B-NP +quarterly NN I-NP +of IN B-PP +11 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +for IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +. . O + +The DT B-NP +third-largest JJ I-NP +thrift NN I-NP +institution NN I-NP +in IN B-PP +Puerto NNP B-NP +Rico NNP I-NP +also RB B-ADVP +said VBD B-VP +it PRP B-NP +expects VBZ B-VP +a DT B-NP +return NN I-NP +to TO B-PP +profitability NN B-NP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +when WRB B-ADVP +it PRP B-NP +reports VBZ B-VP +operating VBG B-NP +results VBZ I-NP +this DT B-NP +week NN I-NP +. . O + +Ponce NNP B-NP +Federal NNP I-NP +said VBD B-VP +the DT B-NP +dividend NN I-NP +was VBD B-VP +suspended VBN I-VP +in IN B-PP +anticipation NN B-NP +of IN B-PP +more RBR B-NP +stringent JJ I-NP +capital NN I-NP +requirements NNS I-NP +under IN B-PP +the DT B-NP +Financial NNP I-NP +Institutions NNP I-NP +Reform NNP I-NP +, , I-NP +Recovery NNP I-NP +, , I-NP +and CC I-NP +Enforcement NNP I-NP +Act NNP I-NP +of IN B-PP +1989 CD B-NP +. . O + +A DT B-NP +labor-management JJ I-NP +group NN I-NP +is VBZ B-VP +preparing VBG I-VP +a DT B-NP +revised VBN I-NP +buy-out NN I-NP +bid NN I-NP +for IN B-PP +United NNP B-NP +Airlines NNPS I-NP +parent NN I-NP +UAL NNP I-NP +Corp. NNP I-NP +that WDT B-NP +would MD B-VP +transfer VB I-VP +majority NN B-NP +ownership NN I-NP +to TO B-PP +employees NNS B-NP +while IN B-SBAR +leaving VBG B-VP +some DT B-NP +stock NN I-NP +in IN B-PP +public JJ B-NP +hands NNS I-NP +, , O +according VBG B-PP +to TO B-PP +people NNS B-NP +familiar JJ B-ADJP +with IN B-PP +the DT B-NP +group NN I-NP +. . O + +The DT B-NP +group NN I-NP +has VBZ B-VP +been VBN I-VP +discussing VBG I-VP +a DT B-NP +proposal NN I-NP +valued VBN B-VP +in IN B-PP +a DT B-NP +range NN I-NP +of IN B-PP +$ $ B-NP +225 CD I-NP +to TO I-NP +$ $ I-NP +240 CD I-NP +a DT B-NP +share NN I-NP +, , O +or CC O +$ $ B-NP +5.09 CD I-NP +billion CD I-NP +to TO I-NP +$ $ I-NP +5.42 CD I-NP +billion CD I-NP +. . O + +But CC O +to TO B-VP +avoid VB I-VP +the DT B-NP +risk NN I-NP +of IN B-PP +rejection NN B-NP +, , O +the DT B-NP +group NN I-NP +does VBZ B-VP +n't RB I-VP +plan VB I-VP +to TO I-VP +submit VB I-VP +the DT B-NP +plan NN I-NP +formally RB B-ADVP +at IN B-PP +a DT B-NP +UAL NNP I-NP +board NN I-NP +meeting NN I-NP +today NN B-NP +. . O + +Instead RB B-ADVP +, , O +the DT B-NP +group NN I-NP +is VBZ B-VP +raising VBG I-VP +the DT B-NP +proposal NN I-NP +informally RB B-ADVP +to TO B-VP +try VB I-VP +to TO I-VP +test VB I-VP +the DT B-NP +board NN I-NP +'s POS B-NP +reaction NN I-NP +. . O + +People NNS B-NP +familiar JJ B-ADJP +with IN B-PP +the DT B-NP +company NN I-NP +say VBP B-VP +the DT B-NP +board NN I-NP +is VBZ B-VP +n't RB O +likely JJ B-ADJP +to TO B-VP +give VB I-VP +quick JJ B-NP +approval NN I-NP +to TO B-PP +any DT B-NP +offer NN I-NP +substantially RB B-ADVP +below IN B-PP +the DT B-NP +$ $ I-NP +300-a-share JJ I-NP +, , I-NP +$ $ I-NP +6.79 CD I-NP +billion CD I-NP +buy-out NN I-NP +bid NN I-NP +that WDT B-NP +collapsed VBD B-VP +last JJ B-NP +week NN I-NP +after IN B-SBAR +banks NNS B-NP +would MD B-VP +n't RB I-VP +raise VB I-VP +needed VBN B-NP +loans NNS I-NP +and CC O +after IN B-SBAR +a DT B-NP +key JJ I-NP +partner NN I-NP +, , O +British JJ B-NP +Airways NNP I-NP +PLC NNP I-NP +, , O +dropped VBD B-VP +out RB B-PRT +. . O + +In IN B-PP +composite JJ B-NP +trading NN I-NP +Friday NNP B-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +, , O +UAL NNP B-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +168.50 CD I-NP +a DT B-NP +share NN I-NP +, , O +down RB B-ADVP +$ $ B-NP +21.625 CD I-NP +. . O + +But CC O +the DT B-NP +pilots NNS I-NP +union NN I-NP +, , O +which WDT B-NP +has VBZ B-VP +been VBN I-VP +pushing VBG I-VP +for IN B-PP +a DT B-NP +takeover NN I-NP +since IN B-PP +1987 CD B-NP +, , O +appears VBZ B-VP +to TO I-VP +be VB I-VP +pressing VBG I-VP +ahead RB B-ADVP +with IN B-PP +the DT B-NP +revised VBN I-NP +bid NN I-NP +to TO B-VP +avoid VB I-VP +further JJ B-NP +loss NN I-NP +of IN B-PP +momentum NN B-NP +even RB B-SBAR +though IN I-SBAR +it PRP B-NP +has VBZ B-VP +n't RB I-VP +found VBN I-VP +a DT B-NP +partner NN I-NP +to TO B-VP +replace VB I-VP +British NNP B-NP +Air NNP I-NP +. . O + +Although IN B-SBAR +the DT B-NP +bidding NN I-NP +group NN I-NP +has VBZ B-VP +n't RB I-VP +had VBN I-VP +time NN B-NP +to TO B-VP +develop VB I-VP +its PRP$ B-NP +latest JJS I-NP +idea NN I-NP +fully RB B-ADVP +or CC O +to TO B-VP +discuss VB I-VP +it PRP B-NP +with IN B-PP +banks NNS B-NP +, , O +it PRP B-NP +believes VBZ B-VP +bank NN B-NP +financing NN I-NP +could MD B-VP +be VB I-VP +obtained VBN I-VP +. . O + +After IN B-PP +the DT B-NP +collapse NN I-NP +of IN B-PP +the DT B-NP +last JJ I-NP +effort NN I-NP +, , O +the DT B-NP +group NN I-NP +does VBZ B-VP +n't RB I-VP +plan VB I-VP +to TO I-VP +make VB I-VP +any DT B-NP +formal JJ I-NP +proposal NN I-NP +without IN B-PP +binding NN B-NP +commitments NNS I-NP +from IN B-PP +banks NNS B-NP +covering VBG B-VP +the DT B-NP +entire JJ I-NP +amount NN I-NP +to TO B-VP +be VB I-VP +borrowed VBN I-VP +. . O + +Under IN B-PP +the DT B-NP +type NN I-NP +of IN B-PP +transaction NN B-NP +being VBG B-VP +discussed VBN I-VP +, , O +the DT B-NP +pilot-management JJ I-NP +group NN I-NP +would MD B-VP +borrow VB I-VP +several JJ B-NP +billion CD I-NP +dollars NNS I-NP +from IN B-PP +banks NNS B-NP +that WDT B-NP +could MD B-VP +then RB I-VP +be VB I-VP +used VBN I-VP +to TO B-VP +finance VB I-VP +a DT B-NP +cash NN I-NP +payment NN I-NP +to TO B-PP +current JJ B-NP +holders NNS I-NP +. . O + +Those DT B-NP +current JJ I-NP +holders NNS I-NP +would MD B-VP +also RB I-VP +receive VB I-VP +minority NN B-NP +interests NNS I-NP +in IN B-PP +the DT B-NP +new JJ I-NP +company NN I-NP +. . O + +For IN B-PP +example NN B-NP +, , O +the DT B-NP +group NN I-NP +could MD B-VP +offer VB I-VP +$ $ B-NP +200 CD I-NP +a DT B-NP +share NN I-NP +in IN B-PP +cash NN B-NP +plus CC B-NP +stock NN B-NP +valued VBN B-VP +at IN B-PP +$ $ B-NP +30 CD I-NP +a DT B-NP +share NN I-NP +. . O + +UAL NNP B-NP +currently RB B-ADVP +has VBZ B-VP +22.6 CD B-NP +million CD I-NP +shares NNS I-NP +, , O +fully RB B-VP +diluted VBN I-VP +. . O + +The DT B-NP +new JJ I-NP +structure NN I-NP +would MD B-VP +be VB I-VP +similar JJ B-ADJP +to TO B-PP +a DT B-NP +recapitalization NN I-NP +in IN B-PP +which WDT B-NP +holders NNS B-NP +get VBP B-VP +a DT B-NP +special JJ I-NP +dividend NN I-NP +yet RB O +retain VB B-VP +a DT B-NP +controlling VBG I-NP +ownership NN I-NP +interest NN I-NP +. . O + +The DT B-NP +difference NN I-NP +is VBZ B-VP +that IN B-SBAR +current JJ B-NP +holders NNS I-NP +would MD B-VP +n't RB I-VP +retain VB I-VP +majority NN B-NP +ownership NN I-NP +or CC I-NP +control NN I-NP +. . O + +The DT B-NP +failed VBN I-NP +takeover NN I-NP +would MD B-VP +have VB I-VP +given VBN I-VP +UAL NNP B-NP +employees NNS I-NP +75 CD B-NP +% NN I-NP +voting NN I-NP +control NN I-NP +of IN B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +second-largest JJ I-NP +airline NN I-NP +, , O +with IN B-PP +management NN B-NP +getting VBG B-VP +10 CD B-NP +% NN I-NP +control NN I-NP +and CC O +British NNP B-NP +Air NNP I-NP +15 CD B-ADJP +% NN I-ADJP +. . O + +It PRP B-NP +was VBD B-VP +n't RB O +clear JJ B-ADJP +how WRB B-ADVP +the DT B-NP +ownership NN I-NP +would MD B-VP +stack VB I-VP +up IN B-PRT +under IN B-PP +the DT B-NP +new JJ I-NP +plan NN I-NP +, , O +but CC O +employees NNS B-NP +would MD B-VP +keep VB I-VP +more JJR B-NP +than IN I-NP +50 CD I-NP +% NN I-NP +. . O + +Management NNP B-NP +'s POS B-NP +total NN I-NP +could MD B-VP +be VB I-VP +reduced VBN I-VP +, , O +and CC O +the DT B-NP +public NN I-NP +could MD B-VP +get VB I-VP +more JJR B-NP +than IN B-PP +the DT B-NP +15 CD I-NP +% NN I-NP +control NN I-NP +that WDT B-NP +had VBD B-VP +been VBN I-VP +earmarked VBN I-VP +for IN B-PP +British NNP B-NP +Air NNP I-NP +. . O + +One CD B-NP +option NN I-NP +the DT B-NP +board NN I-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +consider VB I-VP +today NN B-NP +is VBZ B-VP +some DT B-NP +sort NN B-NP +of IN B-PP +cooling-off JJ B-NP +period NN I-NP +. . O + +Although IN B-SBAR +the DT B-NP +pilots NNS I-NP +are VBP B-VP +expected VBN I-VP +to TO I-VP +continue VB I-VP +to TO I-VP +pursue VB I-VP +the DT B-NP +bid NN I-NP +, , O +UAL NNP B-NP +Chairman NNP I-NP +Stephen NNP I-NP +Wolf NNP I-NP +may MD B-VP +be VB I-VP +asked VBN I-VP +to TO B-VP +withdraw VB I-VP +from IN B-PP +the DT B-NP +buy-out NN I-NP +effort NN I-NP +, , O +at IN B-ADVP +least JJS I-ADVP +temporarily RB B-ADVP +, , O +and CC O +to TO B-VP +return VB I-VP +to TO B-PP +running VBG B-VP +the DT B-NP +company NN I-NP +full JJ B-ADVP +time NN I-ADVP +. . O + +The DT B-NP +board NN I-NP +could MD B-VP +eventually RB I-VP +come VB I-VP +under IN B-PP +some DT B-NP +pressure NN I-NP +to TO B-VP +sell VB I-VP +the DT B-NP +company NN I-NP +because IN B-SBAR +its PRP$ B-NP +members NNS I-NP +can MD B-VP +be VB I-VP +ousted VBN I-VP +by IN B-PP +a DT B-NP +majority NN I-NP +shareholder NN I-NP +vote NN I-NP +, , O +particularly RB B-ADVP +since IN B-SBAR +one-third NN B-NP +of IN B-PP +UAL NNP B-NP +stock NN I-NP +is VBZ B-VP +held VBN I-VP +by IN B-PP +takeover NN B-NP +stock NN I-NP +speculators NNS I-NP +who WP B-NP +favor VBP B-VP +a DT B-NP +sale NN I-NP +. . O + +The DT B-NP +labor-management JJ I-NP +buy-out NN I-NP +group NN I-NP +plans NNS B-VP +to TO I-VP +keep VB I-VP +its PRP$ B-NP +offer NN I-NP +on IN B-PP +the DT B-NP +table NN I-NP +in IN B-PP +an DT B-NP +apparent JJ I-NP +attempt NN I-NP +to TO B-VP +maintain VB I-VP +its PRP$ B-NP +bargaining NN I-NP +position NN I-NP +with IN B-PP +the DT B-NP +board NN I-NP +. . O + +However RB B-ADVP +, , O +the DT B-NP +only JJ I-NP +outsider NN I-NP +who WP B-NP +has VBZ B-VP +emerged VBN I-VP +to TO I-VP +lead VB I-VP +such JJ B-NP +a DT I-NP +shareholder NN I-NP +vote NN I-NP +, , O +Los NNP B-NP +Angeles NNP I-NP +investor NN I-NP +Marvin NNP I-NP +Davis NNP I-NP +, , O +who WP B-NP +triggered VBD B-VP +the DT B-NP +buy-out NN I-NP +with IN B-PP +a DT B-NP +$ $ I-NP +5.4 CD I-NP +billion CD I-NP +bid NN I-NP +in IN B-PP +early JJ B-NP +August NNP I-NP +, , O +is VBZ B-VP +hanging VBG I-VP +back RB B-ADVP +-- : O +apparently RB B-ADVP +to TO B-VP +avoid VB I-VP +being VBG I-VP +blamed VBN I-VP +for IN B-PP +contributing VBG B-VP +to TO B-PP +the DT B-NP +deal NN I-NP +'s POS B-NP +collapse NN I-NP +. . O + +Three CD B-NP +top JJ I-NP +advisers NNS I-NP +to TO B-PP +Mr. NNP B-NP +Davis NNP I-NP +visited VBD B-VP +New NNP B-NP +York NNP I-NP +late JJ B-NP +last JJ I-NP +week NN I-NP +, , O +at IN B-ADVP +least JJS I-ADVP +in IN B-PP +part NN B-NP +to TO B-VP +confer VB I-VP +with IN B-PP +executives NNS B-NP +at IN B-PP +Citicorp NNP B-NP +. . O + +Mr. NNP B-NP +Davis NNP I-NP +had VBD B-VP +paid VBN I-VP +$ $ B-NP +6 CD I-NP +million CD I-NP +for IN B-PP +Citicorp NNP B-NP +'s POS B-NP +backing VBG I-NP +of IN B-PP +his PRP$ B-NP +last JJ I-NP +bid NN I-NP +. . O + +But CC O +Citicorp NNP B-NP +has VBZ B-VP +lost VBN I-VP +some DT B-NP +credibility NN I-NP +because IN B-SBAR +it PRP B-NP +also RB B-ADVP +led VBD B-VP +the DT B-NP +unsuccessful JJ I-NP +effort NN I-NP +to TO B-VP +gain VB I-VP +bank NN B-NP +loans NNS I-NP +for IN B-PP +the DT B-NP +labor-management JJ I-NP +group NN I-NP +. . O + +On IN B-PP +Friday NNP B-NP +, , O +British NNP B-NP +Air NNP I-NP +issued VBD B-VP +a DT B-NP +statement NN I-NP +saying VBG B-VP +it PRP B-NP +`` `` O +does VBZ B-VP +not RB I-VP +intend VB I-VP +to TO I-VP +participate VB I-VP +in IN B-PP +any DT B-NP +new JJ I-NP +deal NN I-NP +for IN B-PP +the DT B-NP +acquisition NN I-NP +of IN B-PP +UAL NNP B-NP +in IN B-PP +the DT B-NP +foreseeable JJ I-NP +future NN I-NP +. . O +'' '' O + +However RB B-ADVP +, , O +several JJ B-NP +people NNS I-NP +said VBD B-VP +that IN B-SBAR +British NNP B-NP +Air NNP I-NP +might MD B-VP +yet RB I-VP +rejoin VB I-VP +the DT B-NP +bidding NN I-NP +group NN I-NP +and CC O +that IN B-SBAR +the DT B-NP +carrier NN I-NP +made VBD B-VP +the DT B-NP +statement NN I-NP +to TO B-VP +answer VB I-VP +questions NNS B-NP +from IN B-PP +British JJ B-NP +regulators NNS I-NP +about IN B-PP +how WRB B-ADVP +it PRP B-NP +plans VBZ B-VP +to TO I-VP +use VB I-VP +proceeds NNS B-NP +of IN B-PP +a DT B-NP +securities NNS I-NP +offering NN I-NP +previously RB B-VP +earmarked VBD I-VP +for IN B-PP +the DT B-NP +UAL NNP I-NP +buy-out NN I-NP +. . O + +Also RB B-ADVP +late JJ B-NP +last JJ I-NP +week NN I-NP +, , O +UAL NNP B-NP +flight NN I-NP +attendants NNS I-NP +agreed VBD B-VP +to TO I-VP +participate VB I-VP +with IN B-PP +the DT B-NP +pilots NNS I-NP +in IN B-PP +crafting VBG B-VP +a DT B-NP +revised VBN I-NP +offer NN I-NP +. . O + +But CC O +the DT B-NP +machinists NNS I-NP +union NN I-NP +, , O +whose WP$ B-NP +opposition NN I-NP +helped VBD B-VP +scuttle VB I-VP +the DT B-NP +first JJ I-NP +buy-out NN I-NP +bid NN I-NP +, , O +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +favor VB I-VP +a DT B-NP +recapitalization NN I-NP +with IN B-PP +a DT B-NP +friendly JJ I-NP +third-party JJ I-NP +investor NN I-NP +. . O + +One CD B-NP +advantage NN I-NP +the DT B-NP +buy-out NN I-NP +group NN I-NP +intends VBZ B-VP +to TO I-VP +press VB I-VP +with IN B-PP +the DT B-NP +board NN I-NP +is VBZ B-VP +that IN B-SBAR +pilots NNS B-NP +have VBP B-VP +agreed VBN I-VP +to TO I-VP +make VB I-VP +$ $ B-NP +200 CD I-NP +million CD I-NP +in IN B-PP +annual JJ B-NP +cost NN I-NP +concessions NNS I-NP +to TO B-VP +help VB I-VP +finance VB I-VP +a DT B-NP +bid NN I-NP +. . O + +Speculation NN B-NP +has VBZ B-VP +also RB I-VP +arisen VBN I-VP +that IN B-SBAR +the DT B-NP +UAL NNP I-NP +executive NN I-NP +most RBS B-VP +closely RB I-VP +identified VBN I-VP +with IN B-PP +the DT B-NP +failure NN I-NP +to TO B-VP +gain VB I-VP +bank NN B-NP +financing NN I-NP +, , O +chief JJ B-NP +financial JJ I-NP +officer NN I-NP +John NNP I-NP +Pope NNP I-NP +, , O +may MD B-VP +come VB I-VP +under IN B-PP +pressure NN B-NP +to TO B-VP +resign VB I-VP +. . O + +However RB B-ADVP +, , O +people NNS B-NP +familiar JJ B-ADJP +with IN B-PP +the DT B-NP +buy-out NN I-NP +group NN I-NP +said VBD B-VP +Mr. NNP B-NP +Pope NNP I-NP +'s POS B-NP +departure NN I-NP +would MD B-VP +weaken VB I-VP +the DT B-NP +airline NN I-NP +'s POS B-NP +management NN I-NP +at IN B-PP +a DT B-NP +critical JJ I-NP +time NN I-NP +. . O + +Despite IN B-PP +the DT B-NP +buy-out NN I-NP +group NN I-NP +'s POS B-NP +failure NN I-NP +to TO B-VP +obtain VB I-VP +financing NN B-NP +, , O +UAL NNP B-NP +remains VBZ B-VP +obligated VBN B-ADJP +to TO B-VP +pay VB I-VP +$ $ B-NP +26.7 CD I-NP +million CD I-NP +in IN B-PP +investment NN B-NP +banking NN I-NP +and CC O +legal JJ B-NP +fees NNS I-NP +to TO B-PP +the DT B-NP +group NN I-NP +'s POS B-NP +advisers NNS I-NP +, , O +Lazard NNP B-NP +Freres NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +Salomon NNP B-NP +Brothers NNP I-NP +Inc. NNP I-NP +, , O +and CC O +Paul NNP B-NP +Weiss NNP I-NP +Rifkind NNP I-NP +Wharton NNP I-NP +& CC I-NP +Garrison NNP I-NP +. . O + +Whittle NNP B-NP +Communications NNP I-NP +Limited NNP I-NP +Partnership NNP I-NP +, , O +Knoxville NNP B-NP +, , O +Tenn. NNP B-NP +, , O +will MD B-VP +launch VB I-VP +its PRP$ B-NP +first JJ I-NP +media NNS I-NP +property NN I-NP +targeting VBG B-VP +Hispanic JJ B-NP +women NNS I-NP +. . O + +`` `` O +La NNP B-NP +Familia NNP I-NP +de FW I-NP +Hoy NNP I-NP +, , O +'' '' O +or CC O +`` `` O +Today NN B-NP +'s POS B-NP +Family NNP I-NP +, , O +'' '' O +will MD B-VP +debut VB I-VP +this DT B-NP +spring NN I-NP +and CC O +will MD B-VP +combine VB I-VP +a DT B-NP +national JJ I-NP +bimonthly JJ I-NP +magazine NN I-NP +and CC O +TV NN B-NP +programming NN I-NP +. . O + +The DT B-NP +television NN I-NP +element NN I-NP +of IN B-PP +`` `` O +La NNP B-NP +Familia NNP I-NP +'' '' O +includes VBZ B-VP +a DT B-NP +series NN I-NP +of IN B-PP +two-minute JJ B-NP +informational JJ I-NP +features NNS I-NP +to TO B-VP +air VB I-VP +seven CD B-NP +days NNS I-NP +a DT B-NP +week NN I-NP +on IN B-PP +the DT B-NP +Spanish-language NNP I-NP +Univision NNP I-NP +network NN I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +Univision NNP B-NP +Holdings NNP I-NP +Inc. NNP I-NP +, , O +which WDT B-NP +is VBZ B-VP +80%-owned JJ O +by IN B-PP +Hallmark NNP B-NP +Cards NNP I-NP +Inc NNP I-NP +. . O + +The DT B-NP +features NNS I-NP +will MD B-VP +focus VB I-VP +on IN B-PP +`` `` O +parenting NN B-NP +, , O +family NN B-NP +health NN I-NP +and CC I-NP +nutrition NN I-NP +, , O +and CC O +financial JJ B-NP +management NN I-NP +, , O +'' '' O +and CC O +will MD B-VP +carry VB I-VP +30 CD B-NP +seconds NNS I-NP +of IN B-PP +advertising NN B-NP +. . O + +The DT B-NP +magazines NNS I-NP +, , B-NP +also RB I-NP +ad-supported JJ B-ADJP +, , O +will MD B-VP +be VB I-VP +distributed VBN I-VP +in IN B-PP +more JJR O +than IN O +10,000 CD O +doctors NNS B-NP +' POS B-NP +offices NNS I-NP +, , I-NP +clinics NNS I-NP +, , I-NP +and CC I-NP +health NN I-NP +centers NNS I-NP +in IN B-PP +Hispanic JJ B-NP +and CC I-NP +largely RB I-NP +Hispanic JJ I-NP +communities NNS I-NP +. . O + +WEIRTON NNP B-NP +STEEL NNP I-NP +Corp. NNP I-NP +said VBD B-VP +it PRP B-NP +completed VBD B-VP +a DT B-NP +$ $ I-NP +300 CD I-NP +million CD I-NP +sale NN I-NP +of IN B-PP +10-year JJ B-NP +notes NNS I-NP +, , O +the DT B-NP +final JJ I-NP +step NN I-NP +in IN B-PP +the DT B-NP +1984 CD I-NP +buy-out NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +from IN B-PP +National NNP B-NP +Steel NNP I-NP +Corp NNP I-NP +. . O + +The DT B-NP +10 CD I-NP +7\/8 CD I-NP +% NN I-NP +notes NNS I-NP +were VBD B-VP +priced VBN I-VP +at IN B-PP +99.5 CD B-NP +% NN I-NP +to TO B-VP +yield VB I-VP +10.958 CD B-NP +% NN I-NP +in IN B-PP +an DT B-NP +offering NN I-NP +managed VBN B-VP +by IN B-PP +Bear NNP B-NP +, , I-NP +Stearns NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +Inc. NNP I-NP +and CC O +Lazard NNP B-NP +Freres NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +. . O + +Weirton NNP B-NP +, , O +of IN B-PP +Weirton NNP B-NP +, , O +W. NNP B-NP +Va. NNP I-NP +, , O +said VBD B-VP +$ $ B-NP +60.3 CD I-NP +million CD I-NP +of IN B-PP +the DT B-NP +proceeds NNS I-NP +were VBD B-VP +used VBN I-VP +to TO B-VP +prepay VB I-VP +the DT B-NP +remaining VBG I-NP +amounts NNS I-NP +on IN B-PP +the DT B-NP +note NN I-NP +outstanding JJ B-ADJP +to TO B-PP +National NNP B-NP +Intergroup NNP I-NP +Inc. NNP I-NP +, , O +the DT B-NP +parent NN I-NP +of IN B-PP +National NNP B-NP +Steel NNP I-NP +. . O + +Remaining VBG B-NP +proceeds NNS I-NP +were VBD B-VP +used VBN I-VP +to TO B-VP +pay VB I-VP +other JJ B-NP +debt NN I-NP +and CC O +to TO B-VP +finance VB I-VP +the DT B-NP +company NN I-NP +'s POS B-NP +capital NN I-NP +spending NN I-NP +program NN I-NP +. . O + +Lep NNP B-NP +Group NNP I-NP +PLC NNP I-NP +of IN B-PP +Britain NNP B-NP +, , O +which WDT B-NP +holds VBZ B-VP +a DT B-NP +62.42 CD I-NP +% NN I-NP +stake NN I-NP +in IN B-PP +Profit NN B-NP +Systems NNP I-NP +Inc. NNP I-NP +, , O +said VBD B-VP +it PRP B-NP +is VBZ B-VP +considering VBG I-VP +courses NNS B-NP +of IN B-PP +action NN B-NP +that WDT B-NP +could MD B-VP +result VB I-VP +in IN B-PP +its PRP$ B-NP +having VBG B-VP +`` `` O +active JJ B-NP +control NN I-NP +'' '' O +of IN B-PP +the DT B-NP +company NN I-NP +. . O + +In IN B-PP +a DT B-NP +filing NN I-NP +with IN B-PP +the DT B-NP +Securities NNP I-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +, , O +Lep NNP B-NP +Group NNP I-NP +said VBD B-VP +a DT B-NP +possible JJ I-NP +course NN I-NP +of IN B-PP +action NN B-NP +may MD B-VP +include VB I-VP +acquiring VBG I-VP +some DT B-NP +or CC I-NP +all DT I-NP +of IN B-PP +the DT B-NP +Profit NN I-NP +Systems NNPS I-NP +shares NNS I-NP +it PRP B-NP +does VBZ B-VP +n't RB I-VP +already RB I-VP +own JJ I-VP +. . O + +It PRP B-NP +noted VBD B-VP +, , O +however RB B-ADVP +, , O +that IN B-SBAR +it PRP B-NP +has VBZ B-VP +n't RB I-VP +determined VBN I-VP +any DT B-NP +specific JJ I-NP +terms NNS I-NP +of IN B-PP +a DT B-NP +possible JJ I-NP +transaction NN I-NP +. . O + +Lep NNP B-NP +Group NNP I-NP +and CC O +affiliates NNS B-NP +currently JJ B-ADVP +control NN B-VP +3,513,072 CD O +Profit NN B-NP +Systems NNPS I-NP +common JJ B-NP +shares NNS I-NP +, , O +or CC O +62.42 CD B-NP +% NN I-NP +, , O +the DT B-NP +filing NN I-NP +said VBD B-VP +. . O + +Profit NN B-NP +Systems NNPS I-NP +, , O +Valley NNP B-NP +Stream NNP I-NP +, , O +N.Y. NNP B-NP +, , O +is VBZ B-VP +an DT B-NP +air NN I-NP +freight NN I-NP +forwarding NN I-NP +concern NN I-NP +. . O + +U.S. NNP B-NP +official JJ I-NP +reserve NN I-NP +assets NNS I-NP +rose VBD B-VP +$ $ B-NP +6.05 CD I-NP +billion CD I-NP +in IN B-PP +September NNP B-NP +, , O +to TO B-PP +$ $ B-NP +68.42 CD I-NP +billion CD I-NP +, , O +the DT B-NP +Treasury NNP I-NP +Department NNP I-NP +said VBD B-VP +. . O + +The DT B-NP +gain NN I-NP +compared VBN B-VP +with IN B-PP +a DT B-NP +$ $ I-NP +1.10 CD I-NP +billion CD I-NP +decline NN I-NP +in IN B-PP +reserve NN B-NP +assets NNS I-NP +in IN B-PP +August NNP B-NP +to TO B-PP +$ $ B-NP +62.36 CD I-NP +billion CD I-NP +, , O +the DT B-NP +department NN I-NP +said VBD B-VP +. . O + +U.S. NNP B-NP +reserve NN I-NP +assets NNS I-NP +consist VBP B-VP +of IN B-PP +foreign JJ B-NP +currencies NNS I-NP +, , O +gold NN B-NP +, , O +special JJ B-NP +drawing NN I-NP +rights NNS I-NP +at IN B-PP +the DT B-NP +International NNP I-NP +Monetary NNP I-NP +Fund NNP I-NP +and CC O +the DT B-NP +U.S. NNP I-NP +reserve NN I-NP +position NN I-NP +-- : O +its PRP$ B-NP +ability NN I-NP +to TO B-VP +draw VB I-VP +foreign JJ B-NP +currencies NNS I-NP +-- : O +at IN B-PP +the DT B-NP +IMF NNP I-NP +. . O + +The DT B-NP +nation NN I-NP +'s POS B-NP +holdings NNS I-NP +of IN B-PP +foreign JJ B-NP +currencies NNS I-NP +increased VBN B-VP +$ $ B-NP +5.67 CD I-NP +billion CD I-NP +in IN B-PP +September NNP B-NP +to TO B-PP +$ $ B-NP +39.08 CD I-NP +billion CD I-NP +, , O +while IN B-SBAR +its PRP$ B-NP +gold NN I-NP +reserves NNS I-NP +were VBD B-VP +virtually RB B-ADJP +unchanged JJ I-ADJP +at IN B-PP +$ $ B-NP +11.07 CD I-NP +billion CD I-NP +. . O + +U.S. NNP B-NP +holdings NNS I-NP +of IN B-PP +IMF NNP B-NP +special JJ I-NP +drawing NN I-NP +rights NNS I-NP +last JJ B-NP +month NN I-NP +rose VBD B-VP +$ $ B-NP +247 CD I-NP +million CD I-NP +, , O +to TO B-PP +$ $ B-NP +9.49 CD I-NP +billion CD I-NP +, , O +and CC O +its PRP$ B-NP +reserve NN I-NP +position NN I-NP +at IN B-PP +the DT B-NP +IMF NNP I-NP +increased VBD B-VP +$ $ B-NP +142 CD I-NP +million CD I-NP +, , O +to TO B-PP +$ $ B-NP +8.79 CD I-NP +billion CD I-NP +. . O + +Alusuisse NNP B-NP +of IN B-PP +America NNP B-NP +Inc. NNP I-NP +plans VBZ B-VP +to TO I-VP +sell VB I-VP +its PRP$ B-NP +Consolidated NNP I-NP +Aluminum NNP I-NP +Corp. NNP I-NP +subsidiary NN I-NP +as IN B-PP +part NN B-NP +of IN B-PP +its PRP$ B-NP +strategy NN I-NP +to TO B-VP +focus VB I-VP +more JJR B-ADVP +on IN B-PP +aluminum NN B-NP +packaging NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +. . O + +Alusuisse NNP B-NP +, , O +of IN B-PP +New NNP B-NP +York NNP I-NP +, , O +declined VBD B-VP +to TO I-VP +say VB I-VP +how WRB B-NP +much JJ I-NP +it PRP B-NP +expects VBZ B-VP +to TO I-VP +get VB I-VP +for IN B-PP +the DT B-NP +unit NN I-NP +; : O +the DT B-NP +company NN I-NP +has VBZ B-VP +hired VBN I-VP +First NNP B-NP +Boston NNP I-NP +Corp. NNP I-NP +to TO B-VP +help VB I-VP +identify VB I-VP +bidders NNS B-NP +. . O + +Alusuisse NNP B-NP +is VBZ B-VP +a DT B-NP +subsidiary NN I-NP +of IN B-PP +Swiss NNP B-NP +Aluminium NNP I-NP +Ltd. NNP I-NP +, , O +a DT B-NP +Zurich NNP I-NP +, , I-NP +Switzerland NNP I-NP +, , I-NP +producer NN I-NP +of IN B-PP +aluminum NN B-NP +, , O +chemicals NNS B-NP +and CC O +packaging NN B-NP +products NNS I-NP +. . O + +Consolidated NNP B-NP +, , O +which WDT B-NP +had VBD B-VP +1988 CD B-NP +revenue NN I-NP +of IN B-PP +$ $ B-NP +400 CD I-NP +million CD I-NP +, , O +makes VBZ B-VP +aluminum NN B-NP +sheet NN I-NP +and CC I-NP +foil NN I-NP +products NNS I-NP +at IN B-PP +its PRP$ B-NP +Hannibal NNP I-NP +, , I-NP +Ohio NNP I-NP +, , I-NP +and CC I-NP +Jackson NNP I-NP +, , I-NP +Tenn. NNP I-NP +, , I-NP +rolling VBG I-NP +mills NNS I-NP +and CC O +recycles VBZ B-VP +aluminum NN B-NP +at IN B-PP +a DT B-NP +plant NN I-NP +in IN B-PP +Bens NNP B-NP +Run NNP I-NP +, , O +W.Va NNP B-NP +. . O + +Manhattan NNP B-NP +National NNP I-NP +Corp. NNP I-NP +said VBD B-VP +Michael NNP B-NP +A. NNP I-NP +Conway NNP I-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +, , O +was VBD B-VP +elected VBN I-VP +chief JJ B-NP +executive NN I-NP +of IN B-PP +the DT B-NP +holding VBG I-NP +company NN I-NP +'s POS B-NP +two CD I-NP +principal JJ I-NP +insurance NN I-NP +subsidiaries NNS I-NP +. . O + +He PRP B-NP +succeeds VBZ B-VP +Paul NNP B-NP +P. NNP I-NP +Aniskovich NNP I-NP +Jr. NNP I-NP +, , O +who WP B-NP +resigned VBD B-VP +to TO B-VP +pursue VB I-VP +other JJ B-NP +business NN I-NP +interests NNS I-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +. . O + +Mr. NNP B-NP +Conway NNP I-NP +, , O +42 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +was VBD B-VP +elected VBN I-VP +chairman NN B-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +executive NN I-NP +of IN B-PP +Manhattan NNP B-NP +Life NNP I-NP +Insurance NNP I-NP +Co. NNP I-NP +and CC O +president NN B-NP +and CC O +chief JJ B-NP +executive NN I-NP +of IN B-PP +Manhattan NNP B-NP +National NNP I-NP +Life NNP I-NP +Insurance NNP I-NP +Co NNP I-NP +. . O + +Harry NNP B-NP +Rossi NNP I-NP +, , O +69 CD B-NP +, , O +chairman NN B-NP +of IN B-PP +the DT B-NP +holding VBG I-NP +company NN I-NP +, , O +also RB B-ADVP +remains VBZ B-VP +chairman NN B-NP +of IN B-PP +Manhattan NNP B-NP +National NNP I-NP +Life NNP I-NP +Insurance NNP I-NP +Co NNP I-NP +. . O + +Mr. NNP B-NP +Conway NNP I-NP +was VBD B-VP +executive JJ B-NP +vice NN I-NP +president NN I-NP +and CC O +chief JJ B-NP +investment NN I-NP +officer NN I-NP +of IN B-PP +Union NNP B-NP +Central NNP I-NP +Life NNP I-NP +Insurance NNP I-NP +Co. NNP I-NP +, , O +of IN B-PP +Cincinnati NNP B-NP +, , O +in IN B-PP +1987 CD B-NP +, , O +when WRB B-ADVP +Union NNP B-NP +Central NNP I-NP +bought VBD B-VP +a DT B-NP +54 CD I-NP +% NN I-NP +interest NN I-NP +in IN B-PP +Manhattan NNP B-NP +National NNP I-NP +Corp NNP I-NP +. . O + +He PRP B-NP +resigned VBD B-VP +as IN B-PP +an DT B-NP +officer NN I-NP +of IN B-PP +Central NNP B-NP +Life NNP I-NP +to TO B-VP +accept VB I-VP +the DT B-NP +Manhattan NNP I-NP +National NNP I-NP +presidency NN I-NP +. . O + +Daniel NNP B-NP +J. NNP I-NP +Terra NNP I-NP +, , O +a DT B-NP +director NN I-NP +of IN B-PP +First NNP B-NP +Illinois NNP I-NP +Corp. NNP I-NP +, , O +said VBD B-VP +that IN B-SBAR +in IN B-PP +August NNP B-NP +he PRP B-NP +reduced VBD B-VP +his PRP$ B-NP +stake NN I-NP +in IN B-PP +First NNP B-NP +Illinois NNP I-NP +to TO B-PP +26.48 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +common JJ I-NP +shares NNS I-NP +outstanding JJ B-ADJP +. . O + +In IN B-PP +a DT B-NP +filing NN I-NP +with IN B-PP +the DT B-NP +Securities NNP I-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +, , O +Mr. NNP B-NP +Terra NNP I-NP +said VBD B-VP +he PRP B-NP +sold VBD B-VP +263,684 CD B-NP +First NNP I-NP +Illinois NNP I-NP +common JJ I-NP +shares NNS I-NP +from IN B-PP +Aug. NNP B-NP +9 CD I-NP +to TO B-PP +Aug. NNP B-NP +28 CD I-NP +for IN B-PP +$ $ B-NP +9.9375 CD I-NP +to TO I-NP +$ $ I-NP +10.5625 CD I-NP +a DT B-NP +share NN I-NP +. . O + +As IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +the DT B-NP +sales NNS I-NP +he PRP B-NP +holds VBZ B-VP +6,727,042 CD B-NP +shares NNS I-NP +. . O + +Mr. NNP B-NP +Terra NNP I-NP +said VBD B-VP +in IN B-PP +the DT B-NP +filing NN I-NP +that IN B-SBAR +he PRP B-NP +sold VBD B-VP +the DT B-NP +stock NN I-NP +to TO B-VP +decrease VB I-VP +his PRP$ B-NP +position NN I-NP +in IN B-PP +the DT B-NP +Evanston NNP I-NP +, , I-NP +Ill. NNP I-NP +, , I-NP +banking NN I-NP +concern NN I-NP +. . O + +He PRP B-NP +may MD B-VP +sell VB I-VP +more JJR B-NP +shares NNS I-NP +in IN B-PP +the DT B-NP +open JJ I-NP +market NN I-NP +or CC B-PP +in IN B-PP +private JJ B-NP +transactions NNS I-NP +, , O +but CC O +would MD B-VP +n't RB I-VP +rule VB I-VP +out IN B-PRT +changing VBG B-VP +his PRP$ B-NP +intentions NNS I-NP +and CC O +buying VBG B-VP +shares NNS B-NP +, , O +the DT B-NP +filing NN I-NP +said VBD B-VP +. . O + +SciMed NNP B-NP +Life NNP I-NP +Systems NNP I-NP +Inc. NNP I-NP +, , O +Minneapolis NNP B-NP +, , O +said VBD B-VP +a DT B-NP +federal JJ I-NP +appeals NNS I-NP +court VBP I-NP +vacated VBD B-VP +an DT B-NP +earlier JJR I-NP +summary NN I-NP +judgment NN I-NP +in IN B-PP +its PRP$ B-NP +favor NN I-NP +. . O + +A DT B-NP +lower JJR I-NP +court NN I-NP +in IN B-PP +St. NNP B-NP +Paul NNP I-NP +had VBD B-VP +ruled VBN I-VP +in IN B-PP +September NNP B-NP +1988 CD I-NP +that IN B-SBAR +a DT B-NP +heart NN I-NP +catheter NN I-NP +SciMed NNP B-NP +manufactures VBZ B-VP +does VBZ B-VP +n't RB I-VP +infringe VB I-VP +on IN B-PP +a DT B-NP +patent NN I-NP +owned VBN B-VP +by IN B-PP +Advanced NNP B-NP +Cardiovascular NNP I-NP +Systems NNPS I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +Eli NNP B-NP +Lilly NNP I-NP +& CC I-NP +Co NNP I-NP +. . O + +SciMed NNP B-NP +said VBD B-VP +the DT B-NP +appeals NNS I-NP +court VBP I-NP +remanded VBD B-VP +the DT B-NP +case NN I-NP +back RB B-ADVP +to TO B-PP +the DT B-NP +district NN I-NP +court NN I-NP +for IN B-PP +further JJ B-NP +proceedings NNS I-NP +. . O + +In IN B-PP +national JJ B-NP +over-the-counter JJ I-NP +trading NN I-NP +Friday NNP B-NP +, , O +SciMed NNP B-NP +shares NNS I-NP +tumbled VBD B-VP +$ $ B-NP +2.75 CD I-NP +to TO B-PP +$ $ B-NP +43 CD I-NP +. . O + +SciMed NNP B-NP +said VBD B-VP +it PRP B-NP +`` `` O +remains VBZ B-VP +committed VBN B-ADJP +'' '' O +both DT O +to TO B-PP +the DT B-NP +`` `` I-NP +vigorous JJ I-NP +defense NN I-NP +'' '' O +of IN B-PP +its PRP$ B-NP +position NN I-NP +that IN B-SBAR +the DT B-NP +catheter NN I-NP +does VBZ B-VP +n't RB I-VP +infringe VB I-VP +the DT B-NP +Lilly NNP I-NP +unit NN I-NP +'s POS B-NP +patent NN I-NP +, , B-PP +and CC I-PP +to TO B-PP +the DT B-NP +pursuit NN I-NP +of IN B-PP +its PRP$ B-NP +own JJ I-NP +counterclaims NNS I-NP +, , O +which WDT B-NP +allege VBP B-VP +Lilly NNP B-NP +engaged VBD B-VP +in IN B-PP +antitrust JJ B-NP +violations NNS I-NP +and CC O +other JJ B-NP +wrongful JJ I-NP +acts NNS I-NP +. . O + +A DT B-NP +REVISED VBN I-NP +BID NNP I-NP +FOR IN B-PP +UAL NNP B-NP +is VBZ B-VP +being VBG I-VP +prepared VBN I-VP +by IN B-PP +a DT B-NP +labor-management JJ I-NP +group NN I-NP +, , O +sources NNS B-NP +said VBD B-VP +. . O + +The DT B-NP +new JJ I-NP +proposal NN I-NP +, , O +which WDT B-NP +would MD B-VP +transfer VB I-VP +majority NN B-NP +ownership NN I-NP +of IN B-PP +United NNP B-NP +Air NNP I-NP +'s POS B-NP +parent NN I-NP +to TO B-PP +employees NNS B-NP +and CC O +leave VB B-VP +some DT B-NP +stock NN I-NP +in IN B-PP +public JJ B-NP +hands NNS I-NP +, , O +would MD B-VP +be VB I-VP +valued VBN I-VP +at IN B-PP +$ $ B-NP +225 CD I-NP +to TO I-NP +$ $ I-NP +240 CD I-NP +a DT B-NP +share NN I-NP +, , O +or CC O +as RB B-NP +much JJ I-NP +as IN I-NP +$ $ I-NP +5.42 CD I-NP +billion CD I-NP +. . O + +But CC O +UAL NNP B-NP +'s POS B-NP +board NN I-NP +is VBZ B-VP +n't RB I-VP +expected VBN I-VP +to TO I-VP +give VB I-VP +quick JJ B-NP +approval NN I-NP +to TO B-PP +any DT B-NP +offer NN I-NP +substantially RB B-ADVP +below IN B-PP +the DT B-NP +$ $ I-NP +300-a-share JJ I-NP +bid NN I-NP +that WDT B-NP +collapsed VBD B-VP +recently RB B-ADVP +. . O + +Takeover NN B-NP +stock NN I-NP +speculators NNS I-NP +have VBP B-VP +incurred VBN I-VP +paper NN B-NP +losses NNS I-NP +of IN B-PP +over IN B-NP +$ $ I-NP +700 CD I-NP +million CD I-NP +from IN B-PP +the DT B-NP +failed VBN I-NP +UAL NNP I-NP +offer NN I-NP +, , O +their PRP$ B-NP +worst JJS I-NP +loss NN I-NP +ever RB B-ADVP +on IN B-PP +a DT B-NP +single JJ I-NP +deal NN I-NP +. . O + +Ford NNP B-NP +and CC I-NP +Saab NNP I-NP +ended VBD B-VP +talks NNS B-NP +about IN B-PP +a DT B-NP +possible JJ I-NP +alliance NN I-NP +after IN B-SBAR +Ford NNP B-NP +concluded VBD B-VP +that IN B-SBAR +the DT B-NP +cost NN I-NP +to TO B-VP +modernize VB I-VP +Saab NNP B-NP +'s POS B-NP +car NN I-NP +operations NNS I-NP +would MD B-VP +outweigh VB I-VP +the DT B-NP +likely JJ I-NP +return NN I-NP +. . O + +The DT B-NP +collapse NN I-NP +Friday NNP B-NP +prompted VBD B-VP +speculation NN B-NP +that IN B-SBAR +Ford NNP B-NP +would MD B-VP +intensify VB I-VP +its PRP$ B-NP +pursuit NN I-NP +of IN B-PP +Jaguar NNP B-NP +, , O +which WDT B-NP +is VBZ B-VP +negotiating VBG I-VP +a DT B-NP +defensive JJ I-NP +alliance NN I-NP +with IN B-PP +GM NNP B-NP +. . O + +Stock NN B-NP +prices NNS I-NP +edged VBD B-VP +up IN B-ADVP +in IN B-PP +quiet JJ B-NP +trading NN I-NP +Friday NNP B-NP +. . O + +The DT B-NP +Dow NNP I-NP +Jones NNP I-NP +industrials NNS I-NP +rose VBD B-VP +5.94 CD B-NP +, , O +to TO B-PP +2689.14 CD B-NP +, , O +making VBG B-VP +the DT B-NP +gain NN I-NP +for IN B-PP +the DT B-NP +week NN I-NP +a DT B-NP +record NN I-NP +119.88 CD I-NP +points NNS I-NP +, , O +or CC O +4.7 CD B-NP +% NN I-NP +. . O + +Most JJS B-NP +bond NN I-NP +prices NNS I-NP +fell VBD B-VP +, , O +but CC O +junk NN B-NP +bonds NNS I-NP +and CC O +the DT B-NP +dollar NN I-NP +rose VBD B-VP +. . O + +New NNP B-NP +York NNP I-NP +City NNP I-NP +bonds NNS I-NP +were VBD B-VP +sold VBN I-VP +off IN B-PRT +by IN B-PP +many JJ B-NP +investors NNS I-NP +last JJ B-NP +week NN I-NP +amid IN B-PP +political JJ B-NP +and CC I-NP +economic JJ I-NP +uncertainty NN I-NP +. . O + +More JJR B-NP +banks NNS I-NP +are VBP B-VP +being VBG I-VP +hurt VBN I-VP +by IN B-PP +Arizona NNP B-NP +'s POS B-NP +worsening VBG I-NP +real-estate NN I-NP +slump NN I-NP +. . O + +First NNP B-NP +Interstate NNP I-NP +Bancorp NNP I-NP +of IN B-PP +Los NNP B-NP +Angeles NNP I-NP +said VBD B-VP +Friday NNP B-NP +it PRP B-NP +expects VBZ B-VP +a DT B-NP +$ $ I-NP +16 CD I-NP +million CD I-NP +quarterly JJ I-NP +loss NN I-NP +, , O +citing VBG B-VP +property-loan JJ B-NP +losses NNS I-NP +at IN B-PP +its PRP$ B-NP +Arizona NNP I-NP +unit NN I-NP +. . O + +OPEC NNP B-NP +'s POS B-NP +ability NN I-NP +to TO B-VP +produce VB I-VP +more JJR B-NP +oil NN I-NP +than IN B-SBAR +it PRP B-NP +can MD B-VP +sell VB I-VP +is VBZ B-VP +starting VBG I-VP +to TO I-VP +cast VB I-VP +a DT B-NP +shadow NN I-NP +over IN B-PP +world NN B-NP +oil NN I-NP +markets NNS I-NP +. . O + +OPEC NNP B-NP +officials NNS I-NP +worry VBP B-VP +that IN B-SBAR +prices NNS B-NP +could MD B-VP +collapse VB I-VP +a DT B-NP +few JJ I-NP +months NNS I-NP +from IN B-PP +now RB B-NP +if IN B-SBAR +the DT B-NP +group NN I-NP +does VBZ B-VP +n't RB I-VP +adopt VB I-VP +new JJ B-NP +quotas NNS I-NP +. . O + +Saatchi NNP B-NP +& CC I-NP +Saatchi NNP I-NP +has VBZ B-VP +attracted VBN I-VP +offers VBZ B-NP +for IN B-PP +some DT B-NP +of IN B-PP +its PRP$ B-NP +advertising NN I-NP +units NNS I-NP +but CC O +has VBZ B-VP +rejected VBN I-VP +them PRP B-NP +, , O +sources NNS B-NP +said VBD B-VP +. . O + +The DT B-NP +proposals NNS I-NP +, , O +from IN B-PP +suitors NNS B-NP +including VBG B-PP +Interpublic NNP B-NP +Group NNP I-NP +, , O +come VB B-VP +as IN B-SBAR +the DT B-NP +London-based JJ I-NP +ad NN I-NP +giant NN I-NP +struggles NNS B-VP +through IN B-PP +its PRP$ B-NP +most RBS I-NP +difficult JJ I-NP +period NN I-NP +ever RB B-ADVP +. . O + +Qintex NNP B-NP +Australia NNP I-NP +suffered VBD B-VP +another DT B-NP +setback NN I-NP +Friday NNP B-NP +when WRB B-ADVP +its PRP$ B-NP +Los NNP I-NP +Angeles-based JJ I-NP +affiliate NN I-NP +filed VBN B-VP +for IN B-PP +Chapter NN B-NP +11 CD I-NP +protection NN I-NP +. . O + +Qintex NNP B-NP +'s POS B-NP +$ $ B-ADJP +1.5 CD O +billion CD O +pact NN B-NP +to TO B-VP +buy VB I-VP +MGM\/UA NNP B-NP +collapsed VBD B-VP +recently RB B-ADVP +. . O + +Kodak NNP B-NP +entered VBD B-VP +the DT B-NP +high-definition JJ I-NP +television NN I-NP +market NN I-NP +by IN B-PP +unveiling VBG B-VP +a DT B-NP +device NN I-NP +that WDT B-NP +can MD B-VP +convert VB I-VP +conventional JJ B-NP +film NN I-NP +into IN B-PP +high-definition JJ B-NP +video NN I-NP +. . O + +A DT B-NP +handful NN I-NP +of IN B-PP +small JJ B-NP +U.S. NNP I-NP +firms NNS I-NP +are VBP B-VP +refusing VBG I-VP +to TO I-VP +cede VB I-VP +the DT B-NP +HDTV-screen JJ I-NP +market NN I-NP +to TO B-PP +Japanese JJ B-NP +manufacturers NNS I-NP +. . O + +Freight NN B-NP +rates NNS I-NP +are VBP B-VP +bottoming VBG I-VP +out IN B-PRT +and CC O +starting VBG B-VP +to TO I-VP +rebound VB I-VP +. . O + +Trucking NNP B-NP +, , I-NP +shipping VBG I-NP +and CC I-NP +air-freight NN I-NP +firms NNS I-NP +are VBP B-VP +all DT O +planning NN B-VP +rate NN B-NP +increases NNS I-NP +, , O +reflecting VBG B-VP +higher JJR B-NP +costs NNS I-NP +and CC O +tightened VBD B-NP +demand NN I-NP +. . O + +Texaco NNP B-NP +has VBZ B-VP +purchased VBN I-VP +an DT B-NP +oil-producing JJ I-NP +company NN I-NP +in IN B-PP +Texas NNP B-NP +for IN B-PP +$ $ B-NP +476.5 CD I-NP +million CD I-NP +. . O + +It PRP B-NP +is VBZ B-VP +Texaco NNP B-NP +'s POS B-NP +first JJ I-NP +major JJ I-NP +acquisition NN I-NP +since IN B-SBAR +the DT B-NP +legal JJ I-NP +battle NN I-NP +with IN B-PP +Pennzoil NNP B-NP +began VBD B-VP +over IN B-NP +four CD I-NP +years NNS I-NP +ago RB B-ADVP +. . O + +Winnebago NNP B-NP +posted VBD B-VP +a DT B-NP +widened VBD I-NP +quarterly JJ I-NP +loss NN I-NP +and CC O +slashed VBD B-VP +its PRP$ B-NP +dividend NN I-NP +in IN B-PP +half NN B-NP +, , O +reflecting VBG B-VP +the DT B-NP +deepening VBG I-NP +slowdown NN I-NP +in IN B-PP +recreational JJ B-NP +vehicle NN I-NP +sales NNS I-NP +. . O + +Markets NNS B-NP +-- : O + +Stocks NNS B-NP +: : O + +Volume NN B-NP +164,830,000 CD B-NP +shares NNS I-NP +. . O + +Dow NNP B-NP +Jones NNP I-NP +industrials NNS I-NP +2689.14 CD B-NP +, , O +up IN B-ADVP +5.94 CD B-NP +; : O +transportation NN B-NP +1230.80 CD B-NP +, , O +off IN B-ADVP +32.71 CD B-NP +; : O +utilities NNS B-NP +215.48 CD B-NP +, , O +up IN B-ADVP +0.06 CD B-NP +. . O + +Bonds NNS B-NP +: : O + +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +Treasury NNP I-NP +index NN I-NP +3392.49 CD B-NP +, , O +off IN B-ADVP + +Commodities NNS B-NP +: : O + +Dow NNP B-NP +Jones NNP I-NP +futures NNS I-NP +index NN I-NP +129.62 CD B-NP +, , O +off IN B-ADVP +0.51 CD B-NP +; : O +spot NN B-NP +index NN I-NP +131.34 CD B-NP +, , O +up IN B-ADVP +0.88 CD B-NP +. . O + +Dollar NN B-NP +: : O + +142.43 CD B-NP +yen NN I-NP +, , O +up IN B-ADVP +0.73 CD B-NP +; : O +1.8578 CD B-NP +marks NNS I-NP +, , O +up IN B-ADVP +0.0108 CD B-NP +. . O + +Inmac NNP B-NP +Corp. NNP I-NP +, , O +a DT B-NP +money-losing JJ I-NP +direct JJ I-NP +marketer NN I-NP +of IN B-PP +computer NN B-NP +supplies NNS I-NP +and CC I-NP +accessories NNS I-NP +, , O +said VBD B-VP +directors NNS B-NP +suspended VBD B-VP +payment NN B-NP +of IN B-PP +its PRP$ B-NP +semiannual JJ I-NP +dividend NN I-NP +as IN B-PP +too RB B-NP +great JJ I-NP +a DT I-NP +drain NN I-NP +on IN B-PP +funds NNS B-NP +. . O + +The DT B-NP +company NN I-NP +paid VBN B-VP +five CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +in IN B-PP +April NNP B-NP +. . O + +The DT B-NP +directors NNS I-NP +' POS B-NP +action NN I-NP +, , O +taken VBN B-VP +Oct. NNP B-NP +10 CD I-NP +but CC O +announced VBD B-VP +Friday NNP B-NP +, , O +had VBD B-VP +little JJ B-NP +or CC I-NP +no DT I-NP +effect NN I-NP +on IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +stock NN I-NP +, , O +which WDT B-NP +stagnated VBD B-VP +at IN B-PP +$ $ B-NP +4.75 CD I-NP +in IN B-PP +light NN B-NP +over-the-counter JJ I-NP +trading NN I-NP +. . O + +Inmac NNP B-NP +recently RB B-ADVP +disclosed VBD B-VP +a DT B-NP +$ $ I-NP +12.3 CD I-NP +million CD I-NP +write-off NN I-NP +related VBN B-VP +to TO B-PP +a DT B-NP +corporate JJ I-NP +restructuring NN I-NP +that WDT B-NP +resulted VBD B-VP +in IN B-PP +the DT B-NP +company NN I-NP +'s VBZ B-NP +posting VBG B-VP +a DT B-NP +$ $ I-NP +6.4 CD I-NP +million CD I-NP +net JJ I-NP +loss NN I-NP +for IN B-PP +the DT B-NP +year NN I-NP +ended VBN B-VP +July NNP B-NP +29 CD I-NP +, , O +compared VBN B-PP +with IN B-PP +year-earlier JJ B-NP +profit NN I-NP +of IN B-PP +$ $ B-NP +9.7 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.02 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Sales NNS B-NP +rose VBD B-VP +12 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +249.5 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +222.8 CD I-NP +million CD I-NP +. . O + +`` `` O +The DT B-NP +board NN I-NP +felt VBD B-VP +that IN B-SBAR +the DT B-NP +continued VBN I-NP +payment NN I-NP +of IN B-PP +our PRP$ B-NP +semiannual JJ I-NP +dividend NN I-NP +was VBD B-VP +inconsistent JJ B-ADJP +with IN B-PP +recent JJ B-NP +operating NN I-NP +results NNS I-NP +, , O +'' '' O +said VBD B-VP +Kenneth NNP B-NP +A. NNP I-NP +Eldred NNP I-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +. . O + +`` `` O +All DT B-NP +our PRP$ I-NP +efforts NNS I-NP +are VBP B-VP +now RB I-VP +focused VBN I-VP +on IN B-PP +improving VBG B-VP +earnings NNS B-NP +to TO B-PP +the DT B-NP +point NN I-NP +where WRB B-ADVP +we PRP B-NP +can MD B-VP +fund VB I-VP +additional JJ B-NP +new-country JJ I-NP +development NN I-NP +, , O +continue VB B-VP +to TO I-VP +invest VB I-VP +in IN B-PP +the DT B-NP +business NN I-NP +and CC O +reinstate VB B-VP +the DT B-NP +dividend NN I-NP +, , O +'' '' O +he PRP B-NP +added VBD B-VP +. . O + +The DT B-NP +company NN I-NP +offers VBZ B-VP +more JJR B-NP +than IN I-NP +3,500 CD I-NP +parts NNS I-NP +and CC I-NP +supplies NNS I-NP +directly RB B-ADVP +to TO B-PP +microcomputer NN B-NP +and CC I-NP +minicomputer NN I-NP +users NNS I-NP +through IN B-PP +catalog NN B-NP +sales NNS I-NP +. . O + +The DT B-NP +Food NNP I-NP +and CC I-NP +Drug NNP I-NP +Administration NNP I-NP +said VBD B-VP +American NNP B-NP +Home NNP I-NP +Products NNP I-NP +Corp. NNP I-NP +agreed VBD B-VP +to TO I-VP +recall VB I-VP +certain JJ B-NP +generic JJ I-NP +drugs NNS I-NP +that WDT B-NP +were VBD B-VP +produced VBN I-VP +by IN B-PP +its PRP$ B-NP +Quantum NNP I-NP +Pharmics NNP I-NP +unit NN I-NP +in IN B-PP +Amityville NNP B-NP +, , O +N.Y NNP B-NP +. . O + +Quantum NNP B-NP +stopped VBD B-VP +shipping VBG I-VP +the DT B-NP +drugs NNS I-NP +last JJ B-NP +month NN I-NP +, , O +following VBG B-PP +a DT B-NP +federal JJ I-NP +investigation NN I-NP +regarding VBG B-VP +information NN B-NP +the DT B-NP +company NN I-NP +supplied VBN B-VP +to TO B-VP +obtain VB I-VP +three CD B-NP +drug NN I-NP +approvals NNS I-NP +. . O + +The DT B-NP +FDA NNP I-NP +requested VBD B-VP +the DT B-NP +recall NN I-NP +of IN B-PP +Quantum NNP B-NP +'s POS B-NP +mioxidil NN I-NP +tablets NNS I-NP +, , I-NP +chlorazepate NN I-NP +dipotassium NN I-NP +tablets NNS I-NP +and CC I-NP +meclofenamate NN I-NP +sodium NN I-NP +capsules NNS I-NP +because IN B-SBAR +, , O +it PRP B-NP +said VBD B-VP +, , O +the DT B-NP +size NN I-NP +of IN B-PP +the DT B-NP +production NN I-NP +runs VBZ I-NP +submitted VBN B-VP +for IN B-PP +testing NN B-NP +to TO B-VP +gain VB I-VP +FDA NNP B-NP +approval NN I-NP +was VBD B-VP +in IN B-PP +each DT B-NP +case NN I-NP +misrepresented VBD B-VP +as IN B-PP +much RB B-ADJP +larger JJR I-ADJP +than IN B-SBAR +it PRP B-NP +actually RB B-ADVP +was VBD B-VP +. . O + +American NNP B-NP +Home NNP I-NP +Products NNPS I-NP +, , O +based VBN B-VP +in IN B-PP +New NNP B-NP +York NNP I-NP +, , O +agreed VBD B-VP +to TO I-VP +recall VB I-VP +four CD B-NP +other JJ I-NP +products NNS I-NP +, , O +trazadone NN B-NP +, , I-NP +doxepin NN I-NP +, , I-NP +diazepam NN I-NP +and CC I-NP +lorazapam NN I-NP +, , O +because IN B-PP +of IN I-PP +concerns NNS B-NP +about IN B-PP +data NNS B-NP +submitted VBN B-VP +in IN B-PP +their PRP$ B-NP +original JJ I-NP +approval NN I-NP +applications NNS I-NP +before IN B-PP +the DT B-NP +FDA NNP I-NP +. . O + +No DT B-NP +safety NN I-NP +problems NNS I-NP +with IN B-PP +the DT B-NP +products NNS I-NP +are VBP B-VP +known VBN I-VP +, , O +the DT B-NP +FDA NNP I-NP +said VBD B-VP +. . O + +An DT B-NP +FDA NNP I-NP +spokesperson NN I-NP +said VBD B-VP +the DT B-NP +drugs NNS I-NP +are VBP B-VP +still RB B-ADVP +available JJ B-ADJP +under IN B-PP +other JJ B-NP +brand NN I-NP +names NNS I-NP +. . O + +Last JJ B-NP +month NN I-NP +, , O +American NNP B-NP +Home NNP I-NP +Products NNPS I-NP +said VBD B-VP +it PRP B-NP +was VBD B-VP +suspending VBG I-VP +production NN B-NP +and CC I-NP +distribution NN I-NP +of IN B-PP +all DT B-NP +21 CD I-NP +of IN B-PP +Quantum NNP B-NP +'s POS B-NP +generic JJ I-NP +drug NN I-NP +products NNS I-NP +pending VBG B-PP +the DT B-NP +completion NN I-NP +of IN B-PP +an DT B-NP +exhaustive JJ I-NP +internal JJ I-NP +audit NN I-NP +. . O + +It PRP B-NP +also RB B-ADVP +temporarily RB B-ADVP +closed VBD B-VP +Quantum NNP B-NP +, , O +because IN B-PP +of IN I-PP +the DT B-NP +internal JJ I-NP +investigation NN I-NP +, , B-NP +as RB I-NP +well RB I-NP +as IN I-NP +the DT B-NP +FDA NNP I-NP +'s POS B-NP +ongoing JJ I-NP +inquiry NN I-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +, , O +American NNP B-NP +Home NNP I-NP +Products NNPS I-NP +rose VBD B-VP +75 CD B-NP +cents NNS I-NP +to TO B-PP +$ $ B-NP +105 CD I-NP +on IN B-PP +Friday NNP B-NP +. . O + +Lyondell NNP B-NP +Petrochemical NNP I-NP +Co. NNP I-NP +said VBD B-VP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +fell VBD B-VP +54 CD B-NP +% NN I-NP +, , O +to TO B-PP +$ $ B-NP +73 CD I-NP +million CD I-NP +, , O +or CC O +91 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +160 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Year-earlier JJ B-NP +per-share JJ I-NP +results NNS I-NP +are VBP B-VP +n't RB O +applicable JJ B-ADJP +because IN B-SBAR +the DT B-NP +company NN I-NP +went VBD B-VP +public JJ B-NP +in IN B-PP +January NNP B-NP +. . O + +Revenue NN B-NP +rose VBD B-VP +7.7 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +1.28 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +1.18 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +petrochemical NN I-NP +maker NN I-NP +said VBD B-VP +the DT B-NP +biggest JJS I-NP +reason NN I-NP +earnings NNS B-NP +declined VBD B-VP +was VBD B-VP +a DT B-NP +loss NN I-NP +of IN B-PP +production NN B-NP +time NN I-NP +and CC O +the DT B-NP +increased VBN I-NP +costs NNS I-NP +associated VBN B-VP +with IN B-PP +a DT B-NP +temporary JJ I-NP +maintenance NN I-NP +closing VBG I-NP +and CC O +expansion NN B-NP +of IN B-PP +an DT B-NP +olefins NNS I-NP +plant VBP I-NP +. . O + +Like IN B-PP +other JJ B-NP +refiners NNS I-NP +, , O +Lyondell NNP B-NP +'s POS B-NP +margins NNS I-NP +for IN B-PP +chemicals NNS B-NP +and CC I-NP +gasoline NN I-NP +were VBD B-VP +narrower JJR B-ADJP +. . O + +While IN B-SBAR +the DT B-NP +company NN I-NP +said VBD B-VP +chemical NN B-NP +margins NNS I-NP +continued VBD B-VP +to TO I-VP +worsen VB I-VP +this DT B-NP +quarter NN I-NP +, , O +costs NNS B-NP +will MD B-VP +be VB I-VP +lower JJR B-ADJP +because IN B-SBAR +the DT B-NP +maintenance NN I-NP +and CC I-NP +expansions NNS I-NP +are VBP B-VP +complete JJ B-ADJP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +Friday NNP B-NP +, , O +Lyondell NNP B-NP +was VBD B-VP +unchanged JJ B-ADJP +at IN B-PP +$ $ B-NP +18.50 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Four CD B-NP +former JJ I-NP +Cordis NNP I-NP +Corp. NNP I-NP +officials NNS I-NP +were VBD B-VP +acquitted VBN I-VP +of IN B-PP +federal JJ B-NP +charges NNS I-NP +related VBN B-VP +to TO B-PP +the DT B-NP +Miami-based JJ I-NP +company NN I-NP +'s POS B-NP +sale NN I-NP +of IN B-PP +pacemakers NNS B-NP +, , O +including VBG B-PP +conspiracy NN B-NP +to TO B-VP +hide VB I-VP +pacemaker NN B-NP +defects NNS I-NP +. . O + +Jurors NNS B-NP +in IN B-PP +U.S. NNP B-NP +District NNP I-NP +Court NNP I-NP +in IN B-PP +Miami NNP B-NP +cleared VBD B-VP +Harold NNP B-NP +Hershhenson NNP I-NP +, , O +a DT B-NP +former JJ I-NP +executive JJ I-NP +vice NN I-NP +president NN I-NP +; : O +John NNP B-NP +Pagones NNP I-NP +, , O +a DT B-NP +former JJ I-NP +vice NN I-NP +president NN I-NP +; : O +and CC O +Stephen NNP B-NP +Vadas NNP I-NP +and CC O +Dean NNP B-NP +Ciporkin NNP I-NP +, , O +who WP B-NP +had VBD B-VP +been VBN I-VP +engineers NNS B-NP +with IN B-PP +Cordis NNP B-NP +. . O + +Earlier RBR B-NP +this DT I-NP +year NN I-NP +, , O +Cordis NNP B-NP +, , O +a DT B-NP +maker NN I-NP +of IN B-PP +medical JJ B-NP +devices NNS I-NP +, , O +agreed VBD B-VP +to TO I-VP +plead VB I-VP +guilty JJ B-ADJP +to TO B-PP +felony NN B-NP +and CC I-NP +misdemeanor NN I-NP +charges NNS I-NP +related VBN B-ADJP +to TO B-PP +the DT B-NP +pacemakers NNS I-NP +and CC O +to TO B-VP +pay VB I-VP +the DT B-NP +government NN I-NP +about RB B-NP +$ $ I-NP +5.7 CD I-NP +million CD I-NP +in IN B-PP +fines NNS B-NP +and CC O +other JJ B-NP +costs NNS I-NP +. . O + +Cordis NNP B-NP +sold VBD B-VP +its PRP$ B-NP +pacemaker NN I-NP +operations NNS I-NP +two CD B-NP +years NNS I-NP +ago RB B-ADVP +to TO B-PP +Telectronics NNP B-NP +Holding NNP I-NP +Ltd. NNP I-NP +of IN B-PP +Australia NNP B-NP +. . O + +PAPERS NNS B-NP +: : O + +Management NNP B-NP +and CC I-NP +unions NNS I-NP +representing VBG B-VP +2,400 CD B-NP +employees NNS I-NP +at IN B-PP +Torstar NNP B-NP +Corp. NNP I-NP +'s POS B-NP +Toronto NNP I-NP +Star NNP I-NP +reached VBD B-VP +a DT B-NP +tentative JJ I-NP +contract NN I-NP +agreement NN I-NP +Friday NNP B-NP +, , O +averting VBG B-VP +a DT B-NP +strike NN I-NP +by IN B-PP +most RBS B-NP +employees NNS I-NP +of IN B-PP +Canada NNP B-NP +'s POS B-NP +largest JJS I-NP +daily JJ I-NP +newspaper NN I-NP +. . O + +Members NNS B-NP +of IN B-PP +the DT B-NP +largest JJS I-NP +union NN I-NP +, , O +representing VBG B-VP +1,700 CD B-NP +workers NNS I-NP +, , O +voted VBD B-VP +in IN B-PP +favor NN B-NP +of IN B-PP +the DT B-NP +pact NN I-NP +yesterday NN B-NP +. . O + +Four CD B-NP +other JJ I-NP +unions NNS I-NP +have VBP B-VP +yet RB I-VP +to TO I-VP +vote VB I-VP +, , O +but CC O +their PRP$ B-NP +leadership NN I-NP +also RB B-ADVP +recommended VBD B-VP +approval NN B-NP +. . O + +The DT B-NP +pact NN I-NP +proposes VBZ B-VP +a DT B-NP +2 CD I-NP +1\/2-year JJ I-NP +contract NN I-NP +with IN B-PP +a DT B-NP +raise NN I-NP +of IN B-PP +8 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +first JJ I-NP +year NN I-NP +, , O +7 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +second JJ I-NP +and CC O +4 CD B-NP +% NN I-NP +for IN B-PP +the DT B-NP +final JJ I-NP +six CD I-NP +months NNS I-NP +. . O + +Amgen NNP B-NP +Inc. NNP I-NP +said VBD B-VP +its PRP$ B-NP +second-quarter JJ I-NP +earnings NNS I-NP +increased VBN B-VP +more JJR B-ADVP +than IN I-ADVP +tenfold RB I-ADVP +to TO B-PP +$ $ B-NP +3.9 CD I-NP +million CD I-NP +, , O +or CC O +22 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +due JJ B-PP +to TO B-PP +increased VB B-NP +sales NNS I-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +new JJ I-NP +antianemia JJ I-NP +drug NN I-NP +for IN B-PP +kidney NN B-NP +patients NNS I-NP +. . O + +The DT B-NP +Thousand NNP I-NP +Oaks NNP I-NP +, , I-NP +Calif.-based JJ I-NP +biotechnology NN I-NP +company NN I-NP +reported VBD B-VP +a DT B-NP +97 CD I-NP +% NN I-NP +increase NN I-NP +in IN B-PP +revenue NN B-NP +to TO B-PP +$ $ B-NP +42.5 CD I-NP +million CD I-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +ended VBN B-VP +Sept. NNP B-NP +30 CD I-NP +. . O + +In IN B-PP +the DT B-NP +year-ago JJ I-NP +period NN I-NP +, , O +Amgen NNP B-NP +reported VBD B-VP +net JJ B-NP +income NN I-NP +of IN B-PP +$ $ B-NP +320,000 CD I-NP +, , O +or CC O +two CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +revenue NN B-NP +of IN B-PP +$ $ B-NP +21.5 CD I-NP +million CD I-NP +. . O + +For IN B-PP +the DT B-NP +six CD I-NP +months NNS I-NP +, , O +the DT B-NP +company NN I-NP +reported VBD B-VP +a DT O +more JJR B-ADVP +than IN I-ADVP +sixfold JJ I-ADVP +increase NN B-NP +in IN B-PP +earnings NNS B-NP +to TO B-PP +$ $ B-NP +4.7 CD I-NP +million CD I-NP +, , O +or CC O +26 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +625,000 CD I-NP +, , O +or CC O +four CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Revenue NN B-NP +rose VBD B-VP +77 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +72.6 CD I-NP +million CD I-NP +, , O +from IN B-PP +last JJ B-NP +year NN I-NP +'s POS B-NP +$ $ I-NP +41 CD I-NP +million CD I-NP +. . O + +LEBANESE JJ B-NP +LAWMAKERS NNS I-NP +APPROVED VBD B-VP +a DT B-NP +peace NN I-NP +plan NN I-NP +but CC O +Aoun NNP B-NP +rejected VBD B-VP +it PRP B-NP +. . O + +Lebanon NNP B-NP +'s POS B-NP +Parliament NNP I-NP +passed VBD B-VP +the DT B-NP +power-sharing JJ I-NP +accord NN I-NP +to TO B-VP +end VB I-VP +the DT B-NP +country NN I-NP +'s POS B-NP +14-year-old JJ I-NP +conflict NN I-NP +, , O +but CC O +the DT B-NP +Christian NNP I-NP +military JJ I-NP +leader NN I-NP +wad NN B-VP +the DT B-NP +plan NN I-NP +was VBD B-VP +`` `` O +full JJ B-ADJP +of IN B-PP +ambiguities NNS B-NP +. . O +'' '' O + +The DT B-NP +Arab NNP I-NP +League-sponsored JJ I-NP +pact NN I-NP +, , O +drafted VBN B-VP +during IN B-PP +three CD B-NP +weeks NNS I-NP +of IN B-PP +talks NNS B-NP +at IN B-PP +the DT B-NP +Saudi NNP I-NP +Arabian NNP I-NP +resort NN I-NP +of IN B-PP +Taif NNP B-NP +, , O +includes VBZ B-VP +Syrian JJ B-NP +proposals NNS I-NP +for IN B-PP +at IN B-ADVP +least JJS I-ADVP +a DT B-NP +partial JJ I-NP +troop NN I-NP +pullout NN I-NP +from IN B-PP +Lebanon NNP B-NP +, , O +and CC O +guarantees VBZ B-VP +an DT B-NP +equal JJ I-NP +number NN I-NP +of IN B-PP +seats NNS B-NP +for IN B-PP +Moslems NNPS B-NP +and CC I-NP +Christians NNPS I-NP +in IN B-PP +the DT B-NP +Parliament NNP I-NP +. . O + +The DT B-NP +rejection NN I-NP +by IN B-PP +Aoun NNP B-NP +, , O +who WP B-NP +has VBZ B-VP +demanded VBN I-VP +a DT B-NP +total JJ I-NP +and CC I-NP +immediate JJ I-NP +pull-out NN I-NP +of IN B-PP +Damascus NNP B-NP +'s POS B-NP +33,000 CD I-NP +troops NNS I-NP +, , O +puts VBZ B-VP +the DT B-NP +future NN I-NP +of IN B-PP +the DT B-NP +agreement NN I-NP +in IN B-PP +doubt NN B-NP +. . O + +NORTHERN NNP B-NP +CALIFORNIA NNP I-NP +BRACED NNP B-VP +for IN B-PP +earthquake-related JJ B-NP +traffic NN I-NP +jams NNS I-NP +. . O + +As IN B-SBAR +rescuers NNS B-NP +pressed VBD B-VP +their PRP$ B-NP +efforts NNS I-NP +after IN B-PP +finding VBG B-VP +a DT B-NP +survivor NN I-NP +in IN B-PP +a DT B-NP +collapsed VBN I-NP +freeway NN I-NP +, , O +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +Bay NNP I-NP +area NN I-NP +girded VBD B-VP +for IN B-PP +hundreds NNS B-NP +of IN I-NP +thousands NNS I-NP +of IN B-PP +commuters NNS B-NP +seeking VBG B-VP +to TO I-VP +avoid VB I-VP +routes NNS B-NP +ravaged VBN B-VP +by IN B-PP +last JJ B-NP +Tuesday NNP I-NP +'s POS B-NP +tremor NN I-NP +. . O + +In IN B-PP +Oakland NNP B-NP +, , O +officials NNS B-NP +said VBD B-VP +the DT B-NP +57-year-old JJ I-NP +longshoreman NN I-NP +who WP B-NP +spent VBD B-VP +four CD B-NP +days NNS I-NP +entombed VBN B-VP +in IN B-PP +rubble NN B-NP +was VBD B-VP +in IN B-PP +critical JJ B-NP +condition NN I-NP +with IN B-PP +slight JJ B-NP +improvement NN I-NP +. . O + +Estimates NNS B-NP +of IN B-PP +damage NN B-NP +in IN B-PP +the DT B-NP +area NN I-NP +, , O +visited VBD B-VP +Friday NNP B-NP +by IN B-PP +Bush NNP B-NP +, , O +topped VBD B-VP +$ $ B-NP +5 NN I-NP +billion CD I-NP +. . O + +The DT B-NP +baseball NN I-NP +commissioner NN I-NP +announced VBD B-VP +that IN B-SBAR +the DT B-NP +third JJ I-NP +game NN I-NP +of IN B-PP +the DT B-NP +World NNP I-NP +Series NNP I-NP +between IN B-PP +the DT B-NP +Giants NNP I-NP +and CC O +the DT B-NP +Athletics NNP I-NP +would MD B-VP +n't RB I-VP +resume VB I-VP +until IN B-PP +Friday NNP B-NP +. . O + +THE DT B-NP +U.S. NNP I-NP +. . O +IS VBZ B-VP +REQUIRED NNP I-VP +to TO I-VP +notify VB I-VP +foreign JJ B-NP +dictators NNS I-NP +of IN B-PP +certain JJ B-NP +coup NN I-NP +plans NNS I-NP +. . O + +Under IN B-PP +guidelines NNS B-NP +included VBD B-VP +in IN B-PP +an DT B-NP +exchange NN I-NP +of IN B-PP +letters NNS B-NP +between IN B-PP +the DT B-NP +Reagan NNP I-NP +administration NN I-NP +and CC O +the DT B-NP +Senate NNP I-NP +Intelligence NNP I-NP +panel NN I-NP +last JJ B-NP +year NN I-NP +, , O +the DT B-NP +U.S. NNP I-NP +must MD B-VP +inform VB I-VP +foreign JJ B-NP +dictators NNS I-NP +of IN B-PP +plans NNS B-NP +likely JJ B-ADJP +to TO B-VP +endanger VB I-VP +their PRP$ B-NP +lives NNS I-NP +. . O + +The DT B-NP +existence NN I-NP +of IN B-PP +the DT B-NP +policy NN I-NP +became VBD B-VP +known VBN I-VP +after IN B-SBAR +Bush NNP B-NP +disclosed VBD B-VP +it PRP B-NP +to TO B-PP +seven CD B-NP +GOP NNP I-NP +senators NNS I-NP +last JJ B-NP +week NN I-NP +, , O +citing VBG B-VP +the DT B-NP +plan NN I-NP +as IN B-PP +an DT B-NP +example NN I-NP +of IN B-PP +congressional JJ B-NP +requirements NNS I-NP +the DT B-NP +administration NN I-NP +contends VBZ B-VP +contribute VB B-VP +to TO B-PP +the DT B-NP +failure NN I-NP +of IN B-PP +covert JJ B-NP +actions NNS I-NP +, , O +officials NNS B-NP +said VBD B-VP +. . O + +Bush NNP B-NP +conceded VBD B-VP +that IN B-SBAR +the DT B-NP +requirement NN I-NP +did VBD B-VP +n't RB I-VP +affect VB I-VP +a DT B-NP +decision NN I-NP +to TO B-VP +lend VB I-VP +only RB B-NP +minor JJ I-NP +support NN I-NP +to TO B-PP +this DT B-NP +month NN I-NP +'s POS B-NP +failed VBD I-NP +effort NN I-NP +to TO B-VP +oust VB I-VP +Panama NNP B-NP +'s POS B-NP +Noriega NNP I-NP +, , O +aides NNS B-NP +said VBD B-VP +. . O + +The DT B-NP +shuttle NN I-NP +Atlantis NNP I-NP +'s POS B-NP +crew NN I-NP +prepared VBN B-VP +to TO I-VP +return VB I-VP +to TO B-PP +Earth NNP B-NP +today NN B-NP +several JJ B-NP +hours NNS I-NP +earlier RBR B-ADVP +than IN B-SBAR +planned VBN B-VP +to TO B-VP +avoid VB I-VP +high JJ B-NP +winds NNS I-NP +forecast VBP B-VP +at IN B-PP +the DT B-NP +landing NN I-NP +site NN I-NP +at IN B-PP +Edwards NNP B-NP +Air NNP I-NP +Force NNP I-NP +Base NNP I-NP +, , O +Calif NNP B-NP +. . O + +The DT B-NP +five CD I-NP +astronauts NNS I-NP +, , O +who WP B-NP +stowed VBD B-VP +gear NN B-NP +and CC O +tested VBD B-VP +the DT B-NP +spacecraft NN I-NP +'s POS B-NP +steering NN I-NP +, , O +said VBD B-VP +they PRP B-NP +were VBD B-VP +unconcerned JJ B-ADJP +about IN B-PP +the DT B-NP +touchy JJ I-NP +weather NN I-NP +expected VBN B-VP +in IN B-PP +the DT B-NP +Mojave NNP I-NP +Desert NNP I-NP +. . O + +Commonwealth NN B-NP +leaders NNS I-NP +issued VBD B-VP +a DT B-NP +declaration NN I-NP +giving VBG B-VP +South NNP B-NP +Africa NNP I-NP +six CD B-NP +months NNS I-NP +to TO B-VP +deliver VB I-VP +on IN B-PP +pledges NNS B-NP +to TO B-VP +ease VB I-VP +apartheid NN B-NP +or CC O +face NN B-VP +new JJ B-NP +reprisals NNS I-NP +. . O + +The DT B-NP +49-nation JJ I-NP +organization NN I-NP +, , O +meeting NN B-VP +in IN B-PP +Malaysia NNP B-NP +, , O +called VBN B-VP +for IN B-PP +tighter RBR B-NP +financial JJ I-NP +pressure NN I-NP +immediately RB B-ADVP +. . O + +Britain NNP B-NP +'s POS B-NP +Prime NNP I-NP +Minister NNP I-NP +Thatcher NNP I-NP +alone RB B-ADVP +dissented VBD B-VP +. . O + +East NNP B-NP +Germany NNP I-NP +'s POS B-NP +leadership NN I-NP +vowed VBD B-VP +swift JJ B-NP +action NN I-NP +to TO B-VP +ease VB I-VP +travel NN B-NP +to TO B-PP +the DT B-NP +West NNP I-NP +. . O + +Despite IN B-PP +the DT B-NP +pledge NN I-NP +by IN B-PP +the DT B-NP +Communist NNP I-NP +rulers NNS I-NP +, , O +tens NNS B-NP +of IN I-NP +thousands NNS I-NP +of IN B-PP +people NNS B-NP +across IN B-ADVP +the DT B-NP +country NN I-NP +staged VBD B-VP +marches NNS B-NP +over IN B-PP +the DT B-NP +weekend NN I-NP +to TO B-VP +demand VB I-VP +democratic JJ B-NP +freedoms NNS I-NP +. . O + +In IN B-PP +Leipzig NNP B-NP +, , O +more JJR B-NP +than IN I-NP +500 CD I-NP +people NNS I-NP +met VBD B-VP +with IN B-PP +local JJ B-NP +party NN I-NP +officials NNS I-NP +to TO B-VP +discuss VB I-VP +internal JJ B-NP +changes NNS I-NP +. . O + +The DT B-NP +Senate NNP I-NP +convicted VBD B-VP +federal JJ B-NP +Judge NNP I-NP +Alcee NNP I-NP +Hastings NNP I-NP +of IN B-PP +Miami NNP B-NP +of IN B-PP +eight CD B-NP +impeachment NN I-NP +articles NNS I-NP +, , O +removing VBG B-VP +him PRP B-NP +from IN B-PP +the DT B-NP +bench NN I-NP +. . O + +The DT B-NP +chamber NN I-NP +voted VBD B-VP +69-26 CD B-ADVP +Friday NNP B-NP +to TO B-VP +convict VB I-VP +the DT B-NP +judge NN I-NP +of IN B-PP +perjury NN B-NP +and CC O +bribery NN B-NP +conspiracy NN I-NP +. . O + +It PRP B-NP +marked VBD B-VP +the DT B-NP +first JJ I-NP +time NN I-NP +a DT B-NP +U.S. NNP I-NP +official NN I-NP +was VBD B-VP +impeached VBN I-VP +on IN B-PP +charges NNS B-NP +of IN B-PP +which WDT B-NP +a DT B-NP +jury NN I-NP +had VBD B-VP +acquitted VBN I-VP +him PRP B-NP +. . O + +Rep. NNP B-NP +Garcia NNP I-NP +and CC O +his PRP$ B-NP +wife NN I-NP +were VBD B-VP +found VBN I-VP +guilty JJ B-ADJP +by IN B-PP +a DT B-NP +federal JJ I-NP +jury NN I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +of IN B-PP +extorting VBG B-VP +$ $ B-NP +76,000 CD I-NP +from IN B-PP +Wedtech NNP B-NP +Corp. NNP I-NP +in IN B-PP +return NN B-NP +for IN B-PP +official JJ B-NP +acts NNS I-NP +by IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Democrat NNP I-NP +. . O + +The DT B-NP +jury NN I-NP +also RB B-ADVP +convicted VBD B-VP +them PRP B-NP +of IN B-PP +extortion NN B-NP +in IN B-PP +obtaining VBG B-VP +a DT B-NP +$ $ I-NP +20,000 CD I-NP +interest-free JJ I-NP +loan NN I-NP +from IN B-PP +an DT B-NP +officer NN I-NP +of IN B-PP +the DT B-NP +defunct JJ I-NP +defense NN I-NP +contractor NN I-NP +. . O + +Authorities NNS B-NP +in IN B-PP +Honduras NNP B-NP +launched VBD B-VP +an DT B-NP +investigation NN I-NP +into IN B-PP +the DT B-NP +cause NN I-NP +of IN B-PP +Saturday NNP B-NP +'s POS B-NP +crash NN I-NP +of IN B-PP +a DT B-NP +Honduran JJ I-NP +jetliner NN I-NP +that WDT B-NP +killed VBD B-VP +132 CD B-NP +of IN B-PP +the DT B-NP +146 CD I-NP +people NNS I-NP +aboard RB B-ADVP +. . O + +The DT B-NP +Boeing NNP I-NP +727 CD I-NP +, , O +en IN B-PP +route NN B-NP +to TO B-PP +Honduras NNP B-NP +from IN B-PP +Costa NNP B-NP +Rica NNP I-NP +via IN B-PP +Nicaragua NNP B-NP +, , O +smashed VBD B-VP +into IN B-PP +the DT B-NP +hills NNS I-NP +outside IN B-ADVP +Tegucigalpa NNP B-NP +as IN B-SBAR +it PRP B-NP +approached VBD B-VP +the DT B-NP +capital NN I-NP +'s POS B-NP +airport NN I-NP +in IN B-PP +high JJ B-NP +winds NNS I-NP +and CC O +low JJ B-NP +clouds NNS I-NP +. . O + +The DT B-NP +U.S. NNP I-NP +and CC O +Israel NNP B-NP +have VBP B-VP +been VBN I-VP +holding VBG I-VP +what WP B-NP +an DT B-NP +aide NN I-NP +to TO B-PP +Prime NNP B-NP +Minister NNP I-NP +Shamir NNP B-NP +called VBD B-VP +intense JJ B-NP +telephone NN I-NP +negotiations NNS I-NP +in IN B-PP +an DT B-NP +effort NN I-NP +to TO B-VP +bridge VB I-VP +differences NNS B-NP +over IN B-PP +Mideast NNP B-NP +peace NN I-NP +moves NNS I-NP +. . O + +The DT B-NP +Labor NNP I-NP +Party NNP I-NP +, , O +meanwhile RB B-ADVP +, , O +threatened VBN B-VP +to TO I-VP +support VB I-VP +a DT B-NP +parliamentary JJ I-NP +motion NN I-NP +to TO B-VP +topple VB I-VP +the DT B-NP +coalition NN I-NP +unless IN B-SBAR +Shamir NNP B-NP +showed VBD B-VP +flexibility NN B-NP +on IN B-PP +Arab-Israeli JJ B-NP +talks NNS I-NP +. . O + +Nicaragua NNP B-NP +'s POS B-NP +Defense NNP I-NP +Ministry NNP I-NP +said VBD B-VP +a DT B-NP +group NN I-NP +of IN B-PP +Contra NNP B-NP +rebels NNS I-NP +ambushed VBD B-VP +two CD B-NP +trucks NNS I-NP +carrying VBG B-VP +troops NNS B-NP +in IN B-PP +northern JJ B-NP +Nicaragua NNP I-NP +, , O +killing VBG B-VP +18 CD B-NP +of IN B-PP +the DT B-NP +soldiers NNS I-NP +. . O + +The DT B-NP +incident NN I-NP +occurred VBD B-VP +Saturday NNP B-NP +night NN I-NP +. . O + +The DT B-NP +Sandinista NNP I-NP +government NN I-NP +and CC O +the DT B-NP +U.S.-backed JJ I-NP +insurgents NNS I-NP +agreed VBD B-VP +in IN B-PP +March NNP B-NP +to TO B-VP +suspend VB I-VP +offensive JJ B-NP +operations NNS I-NP +, , O +but CC O +there EX B-NP +has VBZ B-VP +been VBN I-VP +sporadic JJ B-NP +fighting NN I-NP +. . O + +Scientists NNS B-NP +have VBP B-VP +isolated VBN I-VP +a DT B-NP +molecule NN I-NP +that WDT B-NP +may MD B-VP +hold VB I-VP +potential JJ B-NP +as IN B-PP +a DT B-NP +treatment NN I-NP +for IN B-PP +disruptions NNS B-NP +of IN B-PP +the DT B-NP +immune JJ I-NP +system NN I-NP +, , O +ranging VBG B-VP +from IN B-PP +organ-transplant JJ B-NP +rejection NN I-NP +, , O +to TO B-PP +allergies NNS B-NP +and CC I-NP +asthma NN I-NP +, , O +Immunex NNP B-NP +Corp. NNP I-NP +said VBD B-VP +. . O + +The DT B-NP +molecule NN I-NP +is VBZ B-VP +the DT B-NP +mouse NN I-NP +version NN I-NP +of IN B-PP +a DT B-NP +protein NN I-NP +called VBD B-VP +the DT B-NP +interleukin-4 NN I-NP +receptor NN I-NP +, , O +which WDT B-NP +directs VBZ B-VP +the DT B-NP +growth NN I-NP +and CC I-NP +function NN I-NP +of IN B-PP +white JJ B-NP +blood NN I-NP +cells NNS I-NP +. . O + +Died VBD B-VP +: : O +Alfred NNP B-NP +Hayes NNP I-NP +, , O +79 CD B-NP +, , O +former JJ B-NP +president NN I-NP +of IN B-PP +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +Bank NNP I-NP +of IN B-PP +New NNP B-NP +York NNP I-NP +, , O +Saturday NNP B-NP +, , O +in IN B-PP +New NNP B-NP +Canaan NNP I-NP +, , O +Conn NNP B-NP +. . O + +Contel NNP B-NP +Corp. NNP I-NP +said VBD B-VP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +increased VBN B-VP +16 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +72 CD I-NP +million CD I-NP +, , O +or CC O +45 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +62 CD I-NP +million CD I-NP +, , O +or CC O +39 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +as IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +strong JJ B-NP +growth NN I-NP +in IN B-PP +telephone-access JJ B-NP +lines NNS I-NP +and CC O +long-distance JJ B-NP +minutes NNS I-NP +of IN B-PP +use NN B-NP +. . O + +The DT B-NP +telecommunications NNS I-NP +company NN I-NP +'s POS B-NP +results NNS I-NP +included VBD B-VP +a DT B-NP +one-time JJ I-NP +gain NN I-NP +of IN B-PP +$ $ B-NP +4 CD I-NP +million CD I-NP +, , O +or CC O +two CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +Contel NNP B-NP +Credit NNP I-NP +, , O +a DT B-NP +leasing NN I-NP +and CC I-NP +financial-services NNS I-NP +subsidiary NN I-NP +. . O + +Revenue NN B-NP +rose VBD B-VP +8.3 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +780 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +720 CD I-NP +million CD I-NP +. . O + +Telephone-operations NNS B-NP +quarterly JJ I-NP +profit NN I-NP +increased VBN B-VP +9 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +84 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +77 CD I-NP +million CD I-NP +, , O +while IN B-SBAR +federal-systems JJ B-NP +earnings NNS I-NP +declined VBD B-VP +33 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +4 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +6 CD I-NP +million CD I-NP +. . O + +Information NN B-NP +systems NNS I-NP +posted VBD B-VP +a DT B-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +8 CD I-NP +million CD I-NP +, , O +compared VBN B-PP +with IN B-PP +a DT B-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +9 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Customer-access NN B-NP +lines NNS I-NP +increased VBN B-VP +at IN B-PP +an DT B-NP +annualized VBN I-NP +rate NN I-NP +of IN B-PP +about IN B-NP +4 CD I-NP +% NN I-NP +and CC O +minutes NNS B-NP +of IN B-PP +long-distance JJ B-NP +use NN I-NP +rose VBD B-VP +about IN B-NP +12 CD I-NP +% NN I-NP +. . O + +A DT B-NP +10 CD I-NP +% NN I-NP +gain NN I-NP +in IN B-PP +operating VBG B-NP +profit NN I-NP +in IN B-PP +the DT B-NP +quarter NN I-NP +was VBD B-VP +offset VBN I-VP +by IN B-PP +a DT B-NP +21 CD I-NP +% NN I-NP +boost NN I-NP +in IN B-PP +interest NN B-NP +expense NN I-NP +, , O +reflecting VBG B-VP +higher JJR B-NP +consolidated JJ I-NP +borrowings NNS I-NP +and CC I-NP +interest NN I-NP +rates NNS I-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +, , O +Contel NNP B-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +33.75 CD I-NP +a DT B-NP +share NN I-NP +, , O +down RB B-ADVP +.50 CD B-NP +cents NNS I-NP +. . O + +In IN B-PP +East NNP B-NP +Germany NNP I-NP +, , O +where WRB B-ADVP +humor NN B-NP +has VBZ B-VP +long RB I-VP +been VBN I-VP +the DT B-NP +only JJ I-NP +way NN I-NP +to TO B-VP +express VB I-VP +political JJ B-NP +criticism NN I-NP +, , O +they PRP B-NP +'re VBP B-VP +not RB I-VP +laughing VBG I-VP +about IN B-PP +their PRP$ B-NP +new JJ I-NP +leader NN I-NP +Egon NNP I-NP +Krenz NNP I-NP +. . O + +Mr. NNP B-NP +Krenz NNP I-NP +is VBZ B-VP +such JJ B-NP +a DT I-NP +contradictory JJ I-NP +figure NN I-NP +that DT B-SBAR +nobody NN B-NP +has VBZ B-VP +even RB I-VP +come VB I-VP +up IN B-PRT +with IN B-PP +any DT B-NP +good JJ I-NP +jokes NNS I-NP +about IN B-PP +him PRP B-NP +. . O + +`` `` O +You PRP B-NP +have VBP B-VP +to TO I-VP +have VB I-VP +clear JJ B-NP +feelings NNS I-NP +about IN B-PP +someone NN B-NP +before IN O +you PRP B-NP +can MD B-VP +make VB I-VP +jokes NNS B-NP +, , O +'' '' O +says VBZ B-VP +an DT B-NP +East JJ I-NP +German JJ I-NP +mother NN I-NP +of IN B-PP +two CD B-NP +who WP B-NP +loves VBZ B-VP +swapping VBG I-VP +political JJ B-NP +barbs NNS I-NP +with IN B-PP +her PRP$ B-NP +friends NNS I-NP +. . O + +`` `` O +With IN B-PP +Krenz NNP B-NP +, , O +we PRP B-NP +just RB B-ADVP +do VBP B-VP +n't RB I-VP +know VB I-VP +what WP B-NP +to TO B-VP +expect VB I-VP +. . O +'' '' O + +Mr. NNP B-NP +Krenz NNP I-NP +does VBZ B-VP +n't RB I-VP +seem VB I-VP +to TO I-VP +be VB I-VP +the DT B-NP +knee-jerk JJ I-NP +hardliner NN I-NP +many JJ B-NP +initially RB B-ADVP +thought VBD B-VP +he PRP B-NP +was VBD B-VP +when WRB B-ADVP +the DT B-NP +52-year-old NNP I-NP +Politburo NNP I-NP +member NN I-NP +was VBD B-VP +selected VBN I-VP +last JJ B-NP +week NN I-NP +to TO B-VP +succeed VB I-VP +Erich NNP B-NP +Honecker NNP I-NP +. . O + +But CC O +he PRP B-NP +does VBZ B-VP +n't RB I-VP +appear VB I-VP +to TO I-VP +be VB I-VP +ready JJ B-ADJP +to TO B-VP +make VB I-VP +broad JJ B-NP +changes NNS I-NP +either RB B-ADVP +. . O + +According VBG B-PP +to TO B-PP +East NNP B-NP +Germany NNP I-NP +'s POS B-NP +ADN NNP I-NP +news NN I-NP +agency NN I-NP +, , O +Mr. NNP B-NP +Krenz NNP I-NP +spoke VBD B-VP +to TO B-PP +Soviet JJ B-NP +leader NN I-NP +Mikhail NNP I-NP +Gorbachev NNP I-NP +by IN B-PP +telephone NN B-NP +over IN B-PP +the DT B-NP +weekend NN I-NP +and CC O +acknowledged VBD B-VP +East NNP B-NP +Germany NNP I-NP +could MD B-VP +learn VB I-VP +from IN B-PP +Moscow NNP B-NP +'s POS B-NP +glasnost FW I-NP +policies NNS I-NP +. . O + +Already RB B-ADVP +last JJ B-NP +week NN I-NP +, , O +Mr. NNP B-NP +Krenz NNP I-NP +started VBD B-VP +overhauling VBG I-VP +East NNP B-NP +Germany NNP I-NP +'s POS I-NP +heavily RB B-ADJP +censored VBN I-ADJP +and CC O +notoriously RB B-ADJP +boring JJ I-ADJP +news NN B-NP +media NNS I-NP +. . O + +On IN B-PP +Thursday NNP B-NP +, , O +a DT B-NP +day NN I-NP +after IN O +he PRP B-NP +took VBD B-VP +office NN B-NP +, , O +East JJ B-NP +German JJ I-NP +television NN I-NP +broke VBD B-VP +into IN B-PP +regular JJ B-NP +programming NN I-NP +to TO B-VP +launch VB I-VP +a DT B-NP +talk NN I-NP +show NN I-NP +in IN B-PP +which WDT B-NP +viewers NNS B-NP +call VBP B-VP +in IN B-PRT +questions NNS B-NP +for IN B-SBAR +a DT B-NP +panel NN I-NP +of IN B-PP +officials NNS B-NP +to TO B-VP +answer VB I-VP +. . O + +The DT B-NP +regular JJ I-NP +nightly JJ I-NP +news NN I-NP +program NN I-NP +and CC O +daily JJ B-NP +newspapers NNS I-NP +are VBP B-VP +also RB I-VP +getting VBG I-VP +a DT B-NP +visible JJ I-NP +injection NN I-NP +of IN B-PP +Soviet-style JJ B-NP +glasnost FW I-NP +. . O + +`` `` O +It PRP B-NP +was VBD B-VP +quite RB B-NP +a DT I-NP +shock NN I-NP +, , O +'' '' O +says VBZ B-VP +a DT B-NP +43-year-old NNP I-NP +East JJ I-NP +German JJ I-NP +shopkeeper NN I-NP +. . O + +`` `` O +For IN B-PP +the DT B-NP +first JJ I-NP +time NN I-NP +in IN B-PP +my PRP$ B-NP +life NN I-NP +, , O +I PRP B-NP +was VBD B-VP +n't RB O +sure JJ B-ADJP +whether IN B-SBAR +I PRP B-NP +was VBD B-VP +listening VBG I-VP +to TO B-PP +our PRP$ B-NP +news NN I-NP +or CC O +West JJ B-NP +German JJ I-NP +television NN I-NP +. . O +'' '' O + +Other JJ B-NP +changes NNS I-NP +, , O +including VBG B-PP +easing VBG B-VP +restrictions NNS B-NP +on IN B-PP +travel NN B-NP +for IN B-PP +East NNP B-NP +Germans NNPS I-NP +, , O +are VBP B-VP +expected VBN I-VP +. . O + +But CC O +whether IN B-SBAR +such JJ B-NP +moves NNS I-NP +can MD B-VP +win VB I-VP +back RB B-ADVP +the DT B-NP +confidence NN I-NP +of IN B-PP +East NNP B-NP +Germans NNPS I-NP +, , O +who WP B-NP +have VBP B-VP +taken VBN I-VP +to TO B-PP +the DT B-NP +streets NNS I-NP +by IN B-PP +the DT B-NP +thousands NNS I-NP +in IN B-PP +recent JJ B-NP +weeks NNS I-NP +to TO B-VP +demand VB I-VP +democratic JJ B-NP +changes NNS I-NP +, , O +depends VBZ B-VP +largely RB B-ADVP +on IN B-PP +whether IN B-SBAR +they PRP B-NP +feel VBP B-VP +they PRP B-NP +can MD B-VP +trust VB I-VP +Mr. NNP B-NP +Krenz NNP I-NP +. . O + +And CC O +that DT B-NP +'s VBZ B-VP +a DT B-NP +problem NN I-NP +. . O + +Mr. NNP B-NP +Krenz NNP I-NP +is VBZ B-VP +not RB B-CONJP +only RB I-CONJP +closely RB B-VP +identified VBN I-VP +with IN B-PP +his PRP$ B-NP +mentor NN I-NP +, , O +Mr. NNP B-NP +Honecker NNP I-NP +, , O +but CC B-CONJP +also RB I-CONJP +blamed VBD B-VP +for IN B-PP +ordering VBG B-VP +violent JJ B-NP +police NN I-NP +action NN I-NP +against IN B-PP +protesters NNS B-NP +this DT B-NP +month NN I-NP +and CC B-PP +for IN B-PP +praising VBG B-VP +China NNP B-NP +for IN B-PP +sending VBG B-VP +tanks NNS B-NP +against IN B-PP +student NN B-NP +demonstrators NNS I-NP +. . O + +`` `` O +I PRP B-NP +hope VBP B-VP +he PRP B-NP +grows VBZ B-VP +with IN B-PP +the DT B-NP +job NN I-NP +, , O +'' '' O +says VBZ B-VP +Rainer NNP B-NP +Eppelmann NNP I-NP +, , O +a DT B-NP +Protestant NNP I-NP +pastor NN I-NP +in IN B-PP +East NNP B-NP +Berlin NNP I-NP +. . O + +`` `` O +The DT B-NP +most RBS I-NP +important JJ I-NP +thing NN I-NP +is VBZ B-VP +that IN B-SBAR +he PRP B-NP +have VBP B-VP +a DT B-NP +chance NN I-NP +. . O +'' '' O + +Although IN B-SBAR +Mr. NNP B-NP +Krenz NNP I-NP +is VBZ B-VP +dedicated VBN I-VP +to TO B-PP +East NNP B-NP +Germany NNP I-NP +'s POS B-NP +conservative JJ I-NP +vein NN I-NP +of IN B-PP +communism NN B-NP +, , O +there EX B-NP +is VBZ B-VP +much JJ B-NP +about IN B-PP +his PRP$ B-NP +style NN I-NP +that IN B-NP +sets NNS B-VP +him PRP B-NP +apart RB B-ADVP +from IN B-PP +his PRP$ B-NP +party NN I-NP +comrades NNS I-NP +. . O + +Unlike IN B-PP +Mr. NNP B-NP +Honecker NNP I-NP +, , O +who WP B-NP +tended VBD B-VP +to TO I-VP +lecture VB I-VP +people NNS B-NP +about IN B-PP +socialist JJ B-NP +values NNS I-NP +, , O +Mr. NNP B-NP +Krenz NNP I-NP +enjoys VBZ B-VP +asking VBG I-VP +questions NNS B-NP +. . O + +Indeed RB B-ADVP +, , O +one CD B-NP +of IN B-PP +his PRP$ B-NP +first JJ I-NP +actions NNS I-NP +as IN B-PP +leader NN B-NP +was VBD B-VP +to TO B-VP +visit VB I-VP +a DT B-NP +gritty JJ I-NP +machine NN I-NP +factory NN I-NP +on IN B-PP +the DT B-NP +outskirts NNS I-NP +of IN B-PP +Berlin NNP B-NP +and CC O +wander VB B-VP +among IN B-PP +the DT B-NP +workers NNS I-NP +-- : O +a DT B-ADVP +la FW I-ADVP +Gorbachev NNP B-NP +. . O + +He PRP B-NP +was VBD B-VP +later RB I-VP +shown VBN I-VP +on IN B-PP +television NN B-NP +, , O +fielding NN B-VP +questions NNS B-NP +. . O + +At IN B-PP +one CD B-NP +point NN I-NP +, , O +he PRP B-NP +asked VBD B-VP +a DT B-NP +worker NN I-NP +whether IN B-SBAR +he PRP B-NP +thought VBD B-VP +East NNP B-NP +Germans NNPS I-NP +were VBD B-VP +fleeing VBG I-VP +the DT B-NP +country NN I-NP +because IN B-PP +of IN I-PP +restrictive JJ B-NP +travel NN I-NP +policies NNS I-NP +. . O + +The DT B-NP +worker NN I-NP +'s POS B-NP +tart JJ I-NP +reply NN I-NP +: : O +`` `` O +It PRP B-NP +'s VBZ B-VP +more JJR B-NP +than IN B-PP +just RB B-NP +travel NN I-NP +. . O + +People NNS B-NP +have VBP B-VP +a DT B-NP +sense NN I-NP +the DT B-NP +government NN I-NP +is VBZ B-VP +ignoring VBG I-VP +the DT B-NP +real JJ I-NP +problems NNS I-NP +in IN B-PP +our PRP$ B-NP +society NN I-NP +. . O +'' '' O + +The DT B-NP +exchange NN I-NP +was VBD B-VP +all PDT B-NP +the DT I-NP +more RBR I-NP +remarkable JJ B-ADJP +in IN B-PP +that DT B-SBAR +authorities NNS B-NP +released VBD B-VP +television NN B-NP +footage NN I-NP +to TO B-PP +Western JJ B-NP +news NN I-NP +agencies NNS I-NP +. . O + +This DT B-NP +same JJ I-NP +tendency NN I-NP +toward IN B-PP +openness NN B-NP +impressed VBD B-VP +a DT B-NP +group NN I-NP +of IN B-PP +visiting VBG B-NP +U.S. NNP I-NP +congressmen NNS I-NP +this DT B-NP +spring NN I-NP +. . O + +Rather RB B-PP +than IN I-PP +trying VBG B-VP +to TO I-VP +`` `` O +lecture NN B-VP +us PRP B-NP +, , O +'' '' O +says VBZ B-VP +one CD B-NP +congressional JJ I-NP +aide NN I-NP +who WP B-NP +attended VBD B-VP +the DT B-NP +two-hour JJ I-NP +meeting NN I-NP +, , O +Mr. NNP B-NP +Krenz NNP I-NP +`` `` O +wanted VBD B-VP +to TO I-VP +listen VB I-VP +. . O +'' '' O + +Rep. NNP B-NP +Ronnie NNP I-NP +Flippo NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Ala. NNP B-NP +-RRB- ) O +, , O +one CD B-NP +of IN B-PP +the DT B-NP +members NNS I-NP +of IN B-PP +the DT B-NP +delegation NN I-NP +, , O +says VBZ B-VP +he PRP B-NP +was VBD B-VP +particularly RB I-VP +impressed VBN I-VP +by IN B-PP +Mr. NNP B-NP +Krenz NNP I-NP +'s POS B-NP +ready JJ I-NP +admission NN I-NP +that IN B-SBAR +East NNP B-NP +Germany NNP I-NP +needed VBD B-VP +to TO I-VP +change VB I-VP +. . O + +`` `` O +He PRP B-NP +'s VBZ B-VP +a DT O +very RB B-ADVP +tough JJ I-ADVP +man NN B-NP +, , O +but CC O +one CD B-NP +who WP B-NP +'s VBZ B-VP +also RB B-ADVP +open JJ B-ADJP +to TO B-PP +arguments NNS B-NP +, , O +'' '' O +adds VBZ B-VP +an DT B-NP +aide NN I-NP +to TO B-PP +West JJ B-NP +German NNP I-NP +Chancellor NNP I-NP +Helmut NNP I-NP +Kohl NNP I-NP +. . O + +But CC O +there EX B-NP +'s VBZ B-VP +another DT B-NP +side NN I-NP +to TO B-PP +Mr. NNP B-NP +Krenz NNP I-NP +. . O + +Born VBN B-VP +in IN B-PP +a DT B-NP +Baltic JJ I-NP +town NN I-NP +in IN B-PP +an DT B-NP +area NN I-NP +which WDT B-NP +is VBZ B-VP +now JJ B-ADVP +part NN B-NP +of IN B-PP +Poland NNP B-NP +, , O +he PRP B-NP +has VBZ B-VP +dedicated VBN I-VP +his PRP$ B-NP +life NN I-NP +to TO B-PP +the DT B-NP +party NN I-NP +apparatus NN I-NP +. . O + +He PRP B-NP +moved VBD B-VP +quickly RB B-ADVP +through IN B-PP +the DT B-NP +ranks NNS I-NP +with IN B-PP +the DT B-NP +help NN I-NP +of IN B-PP +his PRP$ B-NP +patron NN I-NP +, , O +Mr. NNP B-NP +Honecker NNP I-NP +, , O +and CC O +emerged VBD B-VP +as IN B-PP +the DT B-NP +heir NN I-NP +apparent JJ I-NP +. . O + +Barbara NNP B-NP +Donovan NNP I-NP +, , O +an DT B-NP +expert NN I-NP +on IN B-PP +East NNP B-NP +Germany NNP I-NP +at IN B-PP +Radio NNP B-NP +Free NNP I-NP +Europe NNP I-NP +in IN B-PP +Munich NNP B-NP +, , O +says VBZ B-VP +Mr. NNP B-NP +Krenz NNP I-NP +may MD B-VP +project VB I-VP +a DT B-NP +smooth JJ I-NP +image NN I-NP +, , O +but CC O +she PRP B-NP +doubts VBZ B-VP +he PRP B-NP +'s VBZ B-VP +a DT B-NP +true JJ I-NP +reformer NN I-NP +. . O + +Even RB B-SBAR +if IN I-SBAR +he PRP B-NP +is VBZ B-VP +, , O +she PRP B-NP +adds VBZ B-VP +, , O +he PRP B-NP +appears VBZ B-VP +to TO I-VP +have VB I-VP +only RB B-NP +limited JJ I-NP +room NN I-NP +for IN B-PP +maneuver NN B-NP +within IN B-PP +the DT B-NP +Communist NNP I-NP +Party NNP I-NP +'s POS B-NP +ruling NN I-NP +Politburo NNP I-NP +. . O + +Against IN B-PP +this DT B-NP +background NN I-NP +, , O +the DT B-NP +new JJ I-NP +East JJ I-NP +German JJ I-NP +leader NN I-NP +must MD B-VP +move VB I-VP +quickly RB B-ADVP +to TO B-VP +shore VB I-VP +up IN B-PRT +his PRP$ B-NP +government NN I-NP +'s POS B-NP +standing VBG I-NP +. . O + +The DT B-NP +sudden JJ I-NP +growth NN I-NP +of IN B-PP +the DT B-NP +opposition NN I-NP +movement NN I-NP +, , B-NP +together RB I-NP +with IN I-NP +the DT B-NP +steady JJ I-NP +outflow NN I-NP +of IN B-PP +citizens NNS B-NP +escaping VBG B-VP +through IN B-PP +Poland NNP B-NP +and CC I-NP +Hungary NNP I-NP +, , O +has VBZ B-VP +plunged VBN I-VP +the DT B-NP +country NN I-NP +into IN B-PP +its PRP$ B-NP +deepest JJS I-NP +political JJ I-NP +crisis NN I-NP +since IN B-PP +an DT B-NP +anti-Soviet JJ I-NP +workers NNS I-NP +' POS B-NP +uprising NN I-NP +in IN B-PP +1953 CD B-NP +. . O + +`` `` O +He PRP B-NP +does VBZ B-VP +n't RB I-VP +have VB I-VP +any DT B-NP +honeymoon NN I-NP +period NN I-NP +, , O +'' '' O +says VBZ B-VP +a DT B-NP +Western JJ I-NP +diplomat NN I-NP +based VBN B-VP +in IN B-PP +East NNP B-NP +Berlin NNP I-NP +. . O + +`` `` O +But CC O +if IN B-SBAR +he PRP B-NP +'s VBZ B-VP +sharp JJ B-ADJP +and CC I-ADJP +quick JJ I-ADJP +, , O +he PRP B-NP +has VBZ B-VP +a DT B-NP +chance NN I-NP +. . O +'' '' O + +The DT B-NP +diplomat NN I-NP +adds VBZ B-VP +that IN B-SBAR +Mr. NNP B-NP +Krenz NNP I-NP +has VBZ B-VP +several JJ B-NP +things NNS I-NP +going VBG B-VP +for IN B-PP +him PRP B-NP +. . O + +The DT B-NP +East JJ I-NP +German JJ I-NP +economy NN I-NP +is VBZ B-VP +strong RB B-ADJP +compared VBN B-PP +with IN B-PP +other JJ B-NP +East NNP I-NP +bloc NN I-NP +nations NNS I-NP +. . O + +And CC O +his PRP$ B-NP +relative JJ I-NP +youth NN I-NP +could MD B-VP +help VB I-VP +him PRP B-NP +project VB B-VP +a DT B-NP +more RBR I-NP +vibrant JJ I-NP +image NN I-NP +, , O +contrasting VBG B-VP +with IN B-PP +the DT B-NP +perception NN I-NP +of IN B-PP +Mr. NNP B-NP +Honecker NNP I-NP +as IN B-PP +an DT B-NP +out-of-touch JJ I-NP +old JJ I-NP +man NN I-NP +. . O + +For IN B-PP +average JJ B-NP +East NNP I-NP +Germans NNPS I-NP +, , O +Mr. NNP B-NP +Krenz NNP I-NP +remains VBZ B-VP +a DT B-NP +puzzle NN I-NP +. . O + +`` `` O +Either CC O +he PRP B-NP +was VBD B-VP +n't RB I-VP +being VBG I-VP +real JJ B-ADJP +in IN B-PP +the DT B-NP +past NN I-NP +, , O +or CC O +he PRP B-NP +is VBZ B-VP +n't RB I-VP +being VBG I-VP +real JJ B-ADJP +right RB B-ADVP +now RB I-ADVP +, , O +'' '' O +says VBZ B-VP +a DT B-NP +30-year-old NNP I-NP +East JJ I-NP +German JJ I-NP +doctor NN I-NP +. . O + +`` `` O +Either CC B-NP +way NN I-NP +, , O +I PRP B-NP +have VBP B-VP +a DT B-NP +problem NN I-NP +with IN B-PP +how WRB B-ADVP +quickly RB I-ADVP +he PRP B-NP +'s VBZ B-VP +changed VBN I-VP +. . O +'' '' O + +The DT B-NP +doctor NN I-NP +was VBD B-VP +among IN B-PP +dozens NNS B-NP +of IN B-PP +people NNS B-NP +milling NN B-VP +through IN B-PP +East NNP B-NP +Berlin NNP I-NP +'s POS B-NP +Gethsemane NNP I-NP +Church NNP I-NP +Saturday NNP B-NP +morning NN I-NP +. . O + +The DT B-NP +walls NNS I-NP +of IN B-PP +the DT B-NP +church NN I-NP +are VBP B-VP +covered VBN I-VP +with IN B-PP +leaflets NNS B-NP +, , O +news NN B-NP +clippings NNS I-NP +, , O +and CC O +handwritten JJ B-NP +notes NNS I-NP +associated VBN B-VP +with IN B-PP +the DT B-NP +country NN I-NP +'s POS B-NP +political JJ I-NP +opposition NN I-NP +. . O + +`` `` O +I PRP B-NP +have VBP B-VP +to TO I-VP +come VB I-VP +here RB B-ADVP +to TO B-VP +read VB I-VP +the DT B-NP +walls NNS I-NP +, , O +'' '' O +says VBZ B-VP +the DT B-NP +doctor NN I-NP +, , O +`` `` O +because IN B-SBAR +it PRP B-NP +'s VBZ B-VP +information NN B-NP +I PRP B-NP +still RB B-ADVP +ca MD B-VP +n't RB I-VP +get VB I-VP +through IN B-PP +the DT B-NP +newspapers NNS I-NP +. . O +'' '' O + +Meanwhile RB B-ADVP +, , O +East NNP B-NP +Germany NNP I-NP +'s POS B-NP +growing VBG I-NP +openness NN I-NP +may MD B-VP +even RB I-VP +allow VB I-VP +the DT B-NP +state-controlled JJ I-NP +news NN I-NP +media NNS I-NP +to TO B-VP +display VB I-VP +a DT B-NP +muted VBN I-NP +sense NN I-NP +of IN B-PP +humor NN B-NP +. . O + +Television NNP B-NP +last JJ B-NP +week NN I-NP +carried VBD B-VP +a DT B-NP +new JJ I-NP +report NN I-NP +on IN B-PP +East NNP B-NP +Berlin NNP I-NP +'s POS B-NP +main JJ I-NP +wallpaper NN I-NP +factory NN I-NP +and CC O +the DT B-NP +need NN I-NP +to TO B-VP +boost VB I-VP +production NN B-NP +. . O + +East NNP B-NP +Germans NNPS I-NP +remember VBP B-VP +a DT B-NP +comment NN I-NP +a DT B-NP +few JJ I-NP +years NNS I-NP +ago RB B-ADVP +by IN B-PP +Kurt NNP B-NP +Hager NNP I-NP +, , O +the DT B-NP +government NN I-NP +'s POS B-NP +top JJ I-NP +ideologist NN I-NP +, , O +that IN B-SBAR +just RB B-ADVP +because IN B-SBAR +a DT B-NP +neighbor NN I-NP +hangs VBZ B-VP +new JJ B-NP +wallpaper NN I-NP +, , O +there EX B-NP +'s VBZ B-VP +no DT B-NP +reason NN I-NP +to TO B-VP +change VB I-VP +your PRP$ B-NP +own JJ I-NP +. . O + +His PRP$ B-NP +point NN I-NP +was VBD B-VP +there EX B-NP +is VBZ B-VP +no DT B-NP +reason NN I-NP +for IN B-SBAR +East NNP B-NP +Germany NNP I-NP +to TO B-VP +copy VB I-VP +Soviet-style JJ B-NP +changes NNS I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +hard JJ B-ADJP +to TO B-VP +know VB I-VP +whether IN B-SBAR +it PRP B-NP +was VBD B-VP +intended VBN I-VP +to TO I-VP +be VB I-VP +funny JJ B-ADJP +, , O +'' '' O +says VBZ B-VP +the DT B-NP +East NNP I-NP +Berlin NNP I-NP +shopkeeper NN I-NP +, , O +`` `` O +But CC O +everyone NN B-NP +I PRP B-NP +know VBP B-VP +laughed VBD B-VP +about IN B-PP +it PRP B-NP +. . O + +The DT B-NP +list NN I-NP +of IN B-PP +laboratories NNS B-NP +claiming VBG B-VP +to TO I-VP +be VB I-VP +producing VBG I-VP +inexplicable JJ B-NP +amounts NNS I-NP +of IN B-PP +heat NN B-NP +from IN B-PP +`` `` B-NP +cold JJ I-NP +fusion NN I-NP +'' '' I-NP +experiments NNS I-NP +is VBZ B-VP +slowly RB I-VP +growing VBG I-VP +. . O + +But CC O +the DT B-NP +experiments NNS I-NP +continue VBP B-VP +to TO I-VP +be VB I-VP +plagued VBN I-VP +by IN B-PP +lack NN B-NP +of IN B-PP +firm NN B-NP +evidence NN I-NP +that IN B-SBAR +the DT B-NP +extra JJ I-NP +heat NN I-NP +is VBZ B-VP +coming VBG I-VP +from IN B-PP +the DT B-NP +fusing NN I-NP +of IN B-PP +hydrogen NN B-NP +atoms NNS I-NP +. . O + +New JJ B-NP +experiments NNS I-NP +at IN B-PP +some DT B-NP +of IN B-PP +the DT B-NP +big JJ I-NP +national JJ I-NP +laboratories NNS I-NP +are VBP B-VP +still RB B-ADVP +unable JJ B-ADJP +to TO B-VP +find VB I-VP +hints NNS B-NP +of IN B-PP +nuclear JJ B-NP +fusion NN I-NP +reactions NNS I-NP +, , O +leaving VBG B-VP +only RB B-NP +the DT I-NP +finding NN I-NP +of IN B-PP +tritium NN B-NP +in IN B-PP +a DT B-NP +Texas NNP I-NP +experiment NN I-NP +to TO B-VP +support VB I-VP +University NNP O +of IN B-PP +Utah NNP B-NP +chemists NNS B-NP +' POS B-NP +claim NN I-NP +of IN B-PP +achieving VBG B-VP +hydrogen NN B-NP +fusion NN I-NP +at IN B-PP +room NN B-NP +temperatures NNS I-NP +. . O + +The DT B-NP +latest JJS I-NP +developments NNS I-NP +in IN B-PP +cold JJ B-NP +fusion NN I-NP +research NN I-NP +were VBD B-VP +presented VBN I-VP +in IN B-PP +24 CD B-NP +reports NNS I-NP +delivered VBN B-VP +at IN B-PP +the DT B-NP +fall NN I-NP +meeting NN I-NP +here RB B-ADVP +of IN B-PP +the DT B-NP +Electrochemical NNP I-NP +Society NNP I-NP +, , O +the DT B-NP +first JJ I-NP +scientific JJ I-NP +meeting NN I-NP +in IN B-PP +five CD B-NP +months NNS I-NP +to TO B-VP +hear VB I-VP +formal JJ B-NP +reports NNS I-NP +on IN B-PP +cold JJ B-NP +fusion NN I-NP +experiments NNS I-NP +. . O + +The DT B-NP +meeting NN I-NP +offered VBD B-VP +stark JJ B-NP +evidence NN I-NP +of IN B-PP +a DT B-NP +dramatic JJ I-NP +fall NN I-NP +in IN B-PP +scientific JJ B-NP +interest NN I-NP +in IN B-PP +cold JJ B-NP +fusion NN I-NP +research NN I-NP +. . O + +Of IN B-PP +the DT B-NP +1,300 CD I-NP +chemists NNS I-NP +registered VBN B-VP +for IN B-PP +the DT B-NP +society NN I-NP +'s POS B-NP +weeklong JJ I-NP +meeting NN I-NP +, , O +fewer JJR B-NP +than IN I-NP +200 CD I-NP +sat VBD B-VP +through IN B-PP +the DT B-NP +day NN I-NP +and CC O +a DT B-NP +half NN I-NP +of IN B-PP +cold JJ B-NP +fusion NN I-NP +presentations NNS I-NP +at IN B-PP +week NN B-NP +'s POS B-NP +end NN I-NP +. . O + +This DT B-NP +was VBD B-VP +in IN B-PP +contrast NN B-NP +with IN B-PP +the DT B-NP +society NN I-NP +'s POS B-NP +meeting NN I-NP +last JJ B-NP +May NNP I-NP +, , O +at IN B-PP +the DT B-NP +height NN I-NP +of IN B-PP +the DT B-NP +controversy NN I-NP +, , O +when WRB B-ADVP +more JJR B-NP +than IN I-NP +1,500 CD I-NP +scientists NNS I-NP +, , O +along IN B-PP +with IN B-PP +scores NNS B-NP +of IN B-PP +reporters NNS B-NP +and CC O +TV NN B-NP +crews NNS I-NP +, , O +crowded VBN B-VP +into IN B-PP +a DT B-NP +Los NNP I-NP +Angeles NNP I-NP +hotel NN I-NP +ballroom NN I-NP +for IN B-PP +a DT B-NP +tumultuous JJ I-NP +special JJ I-NP +night NN I-NP +session NN I-NP +on IN B-PP +the DT B-NP +subject NN I-NP +. . O + +Neither CC B-NP +of IN B-PP +the DT B-NP +two CD I-NP +chemists NNS I-NP +whose WP$ B-NP +Utah NNP I-NP +experiments NNS I-NP +triggered VBD B-VP +the DT B-NP +cold JJ I-NP +fusion NN I-NP +uproar NN I-NP +, , O +Martin NNP B-NP +Fleischmann NNP I-NP +and CC O +B. NNP B-NP +Stanley NNP I-NP +Pons NNP I-NP +, , O +were VBD B-VP +at IN B-PP +the DT B-NP +meeting NN I-NP +. . O + +But CC O +some DT B-NP +members NNS I-NP +of IN B-PP +an DT B-NP +ad NN I-NP +hoc FW I-NP +expert NN I-NP +committee NN I-NP +set VBN B-VP +up IN B-PRT +by IN B-PP +the DT B-NP +Department NNP I-NP +of IN B-PP +Energy NNP B-NP +to TO B-VP +evaluate VB I-VP +the DT B-NP +cold JJ I-NP +fusion NN I-NP +research NN I-NP +were VBD B-VP +in IN B-PP +the DT B-NP +audience NN I-NP +. . O + +The DT B-NP +committee NN I-NP +is VBZ B-VP +to TO I-VP +recommend VB I-VP +at IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +month NN I-NP +whether IN B-SBAR +DOE NNP B-NP +should MD B-VP +support VB I-VP +cold JJ B-NP +fusion NN I-NP +research NN I-NP +. . O + +Most JJS B-NP +of IN B-PP +the DT B-NP +two CD I-NP +dozen NN I-NP +scientists NNS I-NP +taking VBG B-VP +the DT B-NP +podium NN I-NP +reported VBD B-VP +results NNS B-NP +with IN B-PP +new JJ B-NP +, , I-NP +more RBR I-NP +sophisticated JJ I-NP +variations NNS I-NP +of IN B-PP +the DT B-NP +seemingly RB I-NP +simple JJ I-NP +electrolysis-of-water JJ I-NP +experiments NNS I-NP +described VBD B-VP +last JJ B-NP +March NNP I-NP +by IN B-PP +Messrs. NNP B-NP +Fleischmann NNP I-NP +and CC I-NP +Pons NNP I-NP +. . O + +The DT B-NP +experiments NNS I-NP +involve VBP B-VP +encircling VBG I-VP +a DT B-NP +thin JJ I-NP +rod NN I-NP +of IN B-PP +palladium NN B-NP +metal NN I-NP +with IN B-PP +a DT B-NP +wire NN I-NP +of IN B-PP +platinum NN B-NP +and CC O +plunging VBG B-VP +the DT B-NP +two CD I-NP +electrodes NNS I-NP +into IN B-PP +`` `` B-NP +heavy JJ I-NP +'' '' I-NP +water NN I-NP +in IN B-PP +which WDT B-NP +the DT B-NP +hydrogen NN I-NP +atoms NNS I-NP +are VBP B-VP +a DT B-NP +doubly RB I-NP +heavy JJ I-NP +form NN I-NP +known VBN B-VP +as IN B-PP +deuterium NN B-NP +. . O + +When WRB B-ADVP +an DT B-NP +electric JJ I-NP +current NN I-NP +is VBZ B-VP +applied VBN I-VP +to TO B-PP +the DT B-NP +palladium NN I-NP +and CC I-NP +platinum NN I-NP +electrodes NNS I-NP +, , O +the DT B-NP +heavy JJ I-NP +water NN I-NP +did VBD B-VP +begin VB I-VP +to TO I-VP +break VB I-VP +up IN B-PRT +, , O +or CC O +dissociate VB B-VP +. . O + +Ordinarily RB B-ADVP +the DT B-NP +electrolysis NN I-NP +, , I-NP +or CC I-NP +breakup NN I-NP +, , O +of IN B-PP +the DT B-NP +water NN I-NP +would MD B-VP +consume VB I-VP +almost RB B-NP +all DT I-NP +of IN B-PP +the DT B-NP +electrical JJ I-NP +energy NN I-NP +. . O + +But CC O +Messrs. NNP B-NP +Fleischmann NNP I-NP +and CC I-NP +Pons NNP I-NP +said VBD B-VP +their PRP$ B-NP +experiments NNS I-NP +also RB B-ADVP +produced VBN B-VP +large JJ B-NP +amounts NNS I-NP +of IN B-PP +heat NN B-NP +. . O + +The DT B-NP +heat NN I-NP +energy NN I-NP +plus CC B-NP +the DT B-NP +energy NN I-NP +consumed VBN B-VP +by IN B-PP +the DT B-NP +breakup NN I-NP +of IN B-PP +the DT B-NP +water NN I-NP +molecules NNS I-NP +added VBD B-VP +to TO B-PP +far RB B-NP +more JJR I-NP +energy NN I-NP +coming VBG B-VP +out IN B-ADVP +of IN B-PP +the DT B-NP +apparatus NN I-NP +than IN B-PP +electrical JJ B-NP +energy NN I-NP +going VBG B-VP +in IN B-ADVP +, , O +they PRP B-NP +reported VBD B-VP +. . O + +Because IN B-SBAR +they PRP B-NP +also RB B-ADVP +detected VBD B-VP +tritium NN B-NP +and CC O +indications NNS B-NP +of IN B-PP +nuclear JJ B-NP +radiation NN I-NP +, , O +they PRP B-NP +asserted VBD B-VP +that IN B-SBAR +the DT B-NP +`` `` I-NP +excess JJ I-NP +'' '' I-NP +heat NN I-NP +energy NN I-NP +must MD B-VP +be VB I-VP +coming VBG I-VP +from IN B-PP +energy NN B-NP +released VBN B-VP +by IN B-PP +the DT B-NP +nuclear JJ I-NP +fusion NN I-NP +of IN B-PP +deuterium NN B-NP +atoms NNS I-NP +inside IN B-PP +the DT B-NP +palladium NN I-NP +rod NN I-NP +. . O + +As IN B-PP +of IN B-PP +last JJ B-NP +weekend NN I-NP +, , O +a DT B-NP +dozen NN I-NP +labs NNS I-NP +also RB B-ADVP +have VBP B-VP +reported VBN I-VP +measuring VBG I-VP +`` `` B-NP +excess JJ I-NP +'' '' I-NP +heat NN I-NP +from IN B-PP +similar JJ B-NP +electrolytic JJ I-NP +experiments NNS I-NP +, , O +although IN B-SBAR +amounts NNS B-NP +of IN B-PP +such JJ B-NP +heat NN I-NP +vary VBP B-VP +widely RB B-ADVP +. . O + +One CD B-NP +of IN B-PP +the DT B-NP +seven CD I-NP +reports NNS I-NP +presented VBN B-VP +here RB B-ADVP +of IN B-PP +excess JJ B-NP +heat NN I-NP +production NN I-NP +was VBD B-VP +given VBN I-VP +by IN B-PP +Richard NNP B-NP +A. NNP I-NP +Oriani NNP I-NP +, , O +professor NN B-NP +of IN B-PP +chemical NN B-NP +engineering NN I-NP +at IN B-PP +the DT B-NP +University NNP I-NP +of IN B-PP +Minnesota NNP B-NP +. . O + +Mr. NNP B-NP +Oriani NNP I-NP +said VBD B-VP +his PRP$ B-NP +skepticism NN I-NP +of IN B-PP +the DT B-NP +Utah NNP I-NP +claims NNS I-NP +was VBD B-VP +initially RB I-VP +confirmed VBN I-VP +when WRB B-ADVP +his PRP$ B-NP +first JJ I-NP +experiments NNS I-NP +last JJ B-NP +spring NN I-NP +failed VBD B-VP +to TO I-VP +produce VB I-VP +results NNS B-NP +. . O + +But CC O +he PRP B-NP +then RB B-ADVP +borrowed VBD B-VP +a DT B-NP +palladium NN I-NP +rod NN I-NP +from IN B-PP +chemists NNS B-NP +at IN B-PP +Texas NNP B-NP +A&M NNP I-NP +who WP B-NP +said VBD B-VP +they PRP B-NP +were VBD B-VP +getting VBG I-VP +excess JJ B-NP +heat NN I-NP +. . O + +`` `` O +The DT B-NP +results NNS I-NP +were VBD B-VP +fascinating JJ B-ADJP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +On IN B-PP +the DT B-NP +fourth JJ I-NP +`` `` I-NP +run VB I-NP +'' '' O +with IN B-PP +the DT B-NP +borrowed VBN I-NP +rod NN I-NP +, , O +the DT B-NP +experiment NN I-NP +began VBD B-VP +producing VBG I-VP +excess JJ B-NP +heat NN I-NP +. . O + +The DT B-NP +experiment NN I-NP +was VBD B-VP +stopped VBN I-VP +briefly NN B-ADVP +to TO B-VP +change VB I-VP +an DT B-NP +instrument NN I-NP +. . O + +When WRB B-ADVP +it PRP B-NP +was VBD B-VP +restarted VBN I-VP +, , O +heat NN B-NP +output NN I-NP +`` `` O +really RB B-ADVP +took VBD B-VP +off IN B-PRT +'' '' O +and CC O +produced VBN B-VP +excess JJ B-NP +heat NN I-NP +for IN B-PP +several JJ B-NP +hours NNS I-NP +before IN B-PP +dying VBG B-VP +down RB B-PRT +, , O +he PRP B-NP +said VBD B-VP +. . O + +Typical JJ B-ADJP +of IN B-PP +other JJ B-NP +experiments NNS I-NP +, , O +Mr. NNP B-NP +Oriani NNP I-NP +said VBD B-VP +his PRP$ B-NP +experiment NN I-NP +was VBD B-VP +`` `` O +very RB B-ADJP +erratic JJ I-ADJP +. . O +'' '' O + +It PRP B-NP +would MD B-VP +go VB I-VP +along IN B-PRT +doing VBG B-VP +nothing NN B-NP +but CC B-PP +dissociating VBG B-VP +the DT B-NP +heavy JJ I-NP +water NN I-NP +and CC O +then RB B-ADVP +at IN B-PP +totally RB B-NP +unpredictable JJ I-NP +times NNS I-NP +, , O +it PRP B-NP +would MD B-VP +begin VB I-VP +producing VBG I-VP +excess JJ B-NP +heat NN I-NP +for IN B-PP +as RB B-NP +long RB I-NP +as IN I-NP +10 CD I-NP +or CC I-NP +11 CD I-NP +hours NNS I-NP +before IN B-PP +quieting VBG B-VP +down RB B-PRT +. . O + +The DT B-NP +excess JJ I-NP +heat NN I-NP +was VBD B-VP +15 CD B-NP +% NN I-NP +to TO I-NP +20 CD I-NP +% NN I-NP +more JJR B-NP +than IN B-PP +the DT B-NP +energy NN I-NP +involved VBN B-VP +in IN B-PP +the DT B-NP +electrolysis NN I-NP +of IN B-PP +water NN B-NP +. . O + +Mr. NNP B-NP +Oriani NNP I-NP +said VBD B-VP +the DT B-NP +heat NN I-NP +bursts NNS I-NP +were VBD B-VP +too RB B-ADJP +large JJ I-ADJP +and CC O +too RB B-ADJP +long JJ I-ADJP +to TO B-VP +be VB I-VP +explained VBN I-VP +by IN B-PP +the DT B-NP +sudden JJ I-NP +release NN I-NP +of IN B-PP +energy NN B-NP +that WDT B-NP +might MD B-VP +have VB I-VP +slowly RB I-VP +accumulated VBN I-VP +during IN B-PP +the DT B-NP +experiments NNS I-NP +' POS B-NP +quiescent JJ I-NP +times NNS I-NP +, , O +as IN B-SBAR +some DT B-NP +scientists NNS I-NP +have VBP B-VP +suggested VBN I-VP +. . O + +`` `` O +There EX B-NP +is VBZ B-VP +a DT B-NP +reality NN I-NP +to TO B-PP +the DT B-NP +excess JJ I-NP +energy NN I-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +Other JJ B-NP +scientists NNS I-NP +said VBD B-VP +they PRP B-NP +also RB B-ADVP +were VBD B-VP +getting VBG I-VP +sporadic JJ B-NP +bursts NNS I-NP +of IN B-PP +excess JJ B-NP +heat NN I-NP +lasting VBG B-VP +several JJ B-NP +hours NNS I-NP +at IN B-PP +a DT B-NP +time NN I-NP +. . O + +The DT B-NP +bursts NNS I-NP +often RB B-ADVP +occur VBP B-VP +, , O +they PRP B-NP +said VBD B-VP +, , O +after IN O +they PRP B-NP +`` `` B-VP +perturbed JJ I-VP +'' '' O +the DT B-NP +experiments NNS I-NP +by IN B-PP +raising VBG B-VP +or CC I-VP +lowering VBG I-VP +the DT B-NP +amount NN I-NP +of IN B-PP +electric JJ B-NP +current JJ I-NP +being NN B-VP +applied VBN I-VP +, , O +or CC O +switching VBG B-VP +the DT B-NP +current NN I-NP +off IN B-PRT +and CC I-PRT +on RB I-PRT +. . O + +One CD B-NP +chemist NN I-NP +privately RB B-ADVP +suggested VBD B-VP +this DT B-NP +hinted VBD B-VP +that IN B-SBAR +some DT B-NP +`` `` I-NP +anomalous JJ I-NP +'' '' I-NP +chemical NN I-NP +reactions NNS I-NP +might MD B-VP +be VB I-VP +producing VBG I-VP +the DT B-NP +heat NN I-NP +. . O + +One CD B-NP +reason NN I-NP +questions NNS B-NP +surround VBP B-VP +the DT B-NP +heat NN I-NP +experiments NNS I-NP +is VBZ B-VP +that IN B-SBAR +they PRP B-NP +involve VBP B-VP +unusually RB B-NP +meticulous JJ I-NP +measurements NNS I-NP +. . O + +Typically RB B-ADVP +, , O +the DT B-NP +input NN I-NP +energy NN I-NP +ranges NNS B-VP +from IN B-PP +a DT B-NP +third JJ I-NP +of IN B-PP +a DT B-NP +watt NN I-NP +to TO B-PP +one CD B-NP +watt NN I-NP +and CC O +the DT B-NP +excess JJ I-NP +energy NN I-NP +is VBZ B-VP +measured VBN I-VP +in IN B-PP +tenths NNS B-NP +of IN B-PP +a DT B-NP +watt NN I-NP +. . O + +One CD B-NP +exception NN I-NP +is VBZ B-VP +a DT B-NP +continuing VBG I-NP +experiment NN I-NP +at IN B-PP +Stanford NNP B-NP +University NNP I-NP +where WRB B-ADVP +as RB B-NP +much JJ I-NP +as IN I-NP +10 CD I-NP +watts NNS I-NP +of IN B-PP +energy NN B-NP +are VBP B-VP +being VBG I-VP +put VB I-VP +into IN B-PP +the DT B-NP +electrolytic JJ I-NP +cells NNS I-NP +. . O + +A DT B-NP +cell NN I-NP +filled VBN B-VP +with IN B-PP +heavy JJ B-NP +water NN I-NP +is VBZ B-VP +producing VBG I-VP +1.0 CD B-NP +to TO I-NP +1.5 CD I-NP +watts NNS I-NP +more JJR I-NP +heat NN I-NP +than IN B-PP +an DT B-NP +identical JJ I-NP +electrolytic JJ I-NP +cell NN I-NP +filled VBN B-VP +with IN B-PP +ordinary JJ B-NP +water NN I-NP +next JJ B-PP +to TO B-PP +it PRP B-NP +, , O +reported VBD B-VP +Turgut NNP B-NP +M. NNP I-NP +Gur NNP I-NP +, , O +an DT B-NP +associate NN I-NP +of IN B-PP +materials NNS B-NP +scientist NN I-NP +Robert NNP I-NP +A. NNP I-NP +Huggins NNP I-NP +, , O +head NN B-NP +of IN B-PP +the DT B-NP +Stanford NNP I-NP +experimental JJ I-NP +team NN I-NP +. . O + +One CD B-NP +of IN B-PP +the DT B-NP +few JJ I-NP +hints NNS I-NP +the DT B-NP +excess JJ I-NP +heat NN I-NP +might MD B-VP +be VB I-VP +produced VBN I-VP +by IN B-PP +fusion NN B-NP +came VBD B-VP +from IN B-PP +brief JJ B-NP +remarks NNS I-NP +by IN B-PP +chemist NN B-NP +John NNP I-NP +Bockris NNP I-NP +of IN B-PP +Texas NNP B-NP +A&M NNP I-NP +University NNP I-NP +. . O + +Mr. NNP B-NP +Bockris NNP I-NP +previously RB B-ADVP +reported VBD B-VP +getting VBG B-VP +bursts NNS B-NP +of IN B-PP +excess JJ B-NP +heat NN I-NP +and CC O +of IN B-PP +detecting VBG B-VP +increasing VBG B-NP +amounts NNS I-NP +of IN B-PP +tritium NN B-NP +forming VBG B-VP +in IN B-PP +the DT B-NP +heavy JJ I-NP +water NN I-NP +. . O + +He PRP B-NP +said VBD B-VP +that IN B-SBAR +within IN B-PP +the DT B-NP +past JJ I-NP +few JJ I-NP +days NNS I-NP +, , O +he PRP B-NP +'s VBZ B-VP +gotten VBN I-VP +evidence NN B-NP +that IN B-SBAR +there EX B-NP +is VBZ B-VP +a DT B-NP +`` `` I-NP +weak JJ I-NP +correlation NN I-NP +'' '' O +between IN B-PP +the DT B-NP +time NN I-NP +the DT B-NP +heat NN I-NP +bursts NNS I-NP +occur VBP B-VP +and CC O +the DT B-NP +production NN I-NP +of IN B-PP +tritium NN B-NP +. . O + +There EX B-NP +is VBZ B-VP +n't RB O +any DT B-NP +way NN I-NP +to TO B-VP +continuously RB I-VP +measure VBP I-VP +the DT B-NP +amount NN I-NP +of IN B-PP +tritium NN B-NP +in IN B-PP +the DT B-NP +heavy JJ I-NP +water NN I-NP +, , O +so IN O +it PRP B-NP +'s VBZ B-VP +been VBN I-VP +difficult JJ B-ADJP +to TO B-VP +tell VB I-VP +whether IN O +the DT B-NP +tritium NN I-NP +formation NN I-NP +is VBZ B-VP +related VBN I-VP +to TO B-PP +the DT B-NP +heat NN I-NP +bursts NNS I-NP +or CC O +some DT B-NP +other JJ I-NP +phenomenon NN I-NP +. . O + +Increasingly RB B-NP +careful JJ I-NP +attempts NNS I-NP +to TO B-VP +measure VB I-VP +neutrons NNS B-NP +, , O +which WDT B-NP +would MD B-VP +be VB I-VP +strong JJ B-NP +evidence NN I-NP +of IN B-PP +fusion NN B-NP +reactions NNS I-NP +, , O +continue VB B-VP +to TO I-VP +be VB I-VP +negative JJ B-ADJP +. . O + +Messrs. NNP B-NP +Fleischmann NNP I-NP +and CC I-NP +Pons NNP I-NP +initially RB B-VP +reported VBD I-VP +indirect JJ B-NP +evidence NN I-NP +of IN B-PP +neutrons NNS B-NP +being VBG B-VP +produced VBN I-VP +in IN B-PP +their PRP$ B-NP +experiment NN I-NP +but CC O +later RB B-VP +conceded VBD I-VP +the DT B-NP +measurements NNS I-NP +were VBD B-VP +questionable JJ B-ADJP +. . O + +Researchers NNS B-NP +at IN B-PP +Sandia NNP B-NP +National NNP I-NP +Laboratories NNPS I-NP +in IN B-PP +Albuquerque NNP B-NP +, , O +N.M. NNP B-NP +, , O +reported VBD B-VP +they PRP B-NP +went VBD B-VP +so RB B-ADVP +far RB I-ADVP +as IN B-SBAR +to TO B-VP +take VB I-VP +a DT B-NP +`` `` I-NP +cold JJ I-NP +fusion NN I-NP +'' '' I-NP +experiment NN I-NP +and CC O +three CD B-NP +neutron NN I-NP +detectors NNS I-NP +into IN B-PP +a DT B-NP +tunnel NN I-NP +under IN B-PP +300 CD B-NP +feet NNS I-NP +of IN B-PP +granite NN B-NP +to TO B-VP +shield VB I-VP +the DT B-NP +detectors NNS I-NP +from IN B-PP +cosmic JJ B-NP +rays NNS I-NP +. . O + +A DT B-NP +number NN I-NP +of IN B-PP +times NNS B-NP +they PRP B-NP +detected VBD B-VP +neutrons NNS B-NP +in IN B-PP +one CD B-NP +, , B-NP +sometimes RB I-NP +two CD B-NP +, , O +of IN B-PP +the DT B-NP +three CD I-NP +detectors NNS I-NP +, , O +but CC O +only RB B-ADVP +once RB I-ADVP +during IN B-PP +411 CD B-NP +hours NNS I-NP +of IN B-PP +the DT B-NP +experiment NN I-NP +did VBD O +they PRP B-NP +detect VBP B-VP +a DT B-NP +neutron NN I-NP +burst NN I-NP +in IN B-PP +all DT B-NP +three CD I-NP +detectors NNS I-NP +-- : O +and CC O +they PRP B-NP +think VBP B-VP +that WDT B-NP +was VBD B-VP +a DT B-NP +spurious JJ I-NP +event NN I-NP +. . O + +Shimson NNP B-NP +Gottesfeld NNP I-NP +of IN B-PP +Los NNP B-NP +Alamos NNP I-NP +National NNP I-NP +Laboratory NNP I-NP +said VBD B-VP +researchers NNS B-NP +there EX B-ADVP +detected VBN B-VP +a DT B-NP +burst NN I-NP +of IN B-PP +neutrons NNS B-NP +from IN B-PP +an DT B-NP +early JJ I-NP +cold JJ I-NP +fusion NN I-NP +experiment NN I-NP +last JJ B-NP +April NNP I-NP +but CC O +decided VBD B-VP +not RB O +to TO B-VP +announce VB I-VP +it PRP B-NP +until IN B-SBAR +they PRP B-NP +could MD B-VP +confirm VB I-VP +it PRP B-NP +. . O + +In IN B-PP +subsequent JJ B-NP +experiments NNS I-NP +, , O +one CD B-NP +of IN B-PP +two CD B-NP +neutron NN I-NP +detectors NNS I-NP +occasionally RB B-ADVP +indicated VBD B-VP +a DT B-NP +burst NN I-NP +of IN B-PP +neutrons NNS B-NP +but CC O +neutron NN B-NP +bursts NNS I-NP +were VBD B-VP +never RB I-VP +recorded VBN I-VP +in IN B-PP +both DT B-NP +detectors NNS I-NP +at IN B-PP +the DT B-NP +same JJ I-NP +time NN I-NP +. . O + +They PRP B-NP +concluded VBD B-VP +the DT B-NP +indications NNS I-NP +of IN B-PP +neutrons NNS B-NP +stemmed VBD B-VP +from IN B-PP +faults NNS B-NP +in IN B-PP +the DT B-NP +detectors NNS I-NP +rather RB B-PP +than IN I-PP +from IN B-PP +the DT B-NP +cold JJ I-NP +fusion NN I-NP +experiment NN I-NP +. . O + +At IN B-PP +the DT B-NP +Lawrence NNP I-NP +Berkeley NNP I-NP +Laboratory NNP I-NP +in IN B-PP +California NNP B-NP +, , O +new JJ B-NP +experiments NNS I-NP +indicated VBD B-VP +that IN B-SBAR +the DT B-NP +lithium NN I-NP +added VBD B-VP +to TO B-PP +the DT B-NP +heavy JJ I-NP +water NN I-NP +so IN B-SBAR +it PRP B-NP +will MD B-VP +conduct VB I-VP +a DT B-NP +current NN I-NP +can MD B-VP +produce VB I-VP +previously RB B-NP +unsuspected JJ I-NP +electrical JJ I-NP +effects NNS I-NP +on IN B-PP +the DT B-NP +surface NN I-NP +of IN B-PP +the DT B-NP +palladium NN I-NP +rod NN I-NP +-- : O +which WDT B-NP +Messrs. NNP B-NP +Fleischmann NNP I-NP +and CC I-NP +Pons NNP I-NP +might MD B-VP +have VB I-VP +misinterpreted VBN I-VP +, , O +reported VBD B-VP +Philip NNP B-NP +Ross NNP I-NP +from IN B-PP +the DT B-NP +California NNP I-NP +laboratory NN I-NP +. . O + +Dow NNP B-NP +Jones NNP I-NP +& CC I-NP +Co. NNP I-NP +announced VBD B-VP +Wall NNP B-NP +Street NNP I-NP +Journal NNP I-NP +advertising NN I-NP +rates NNS I-NP +for IN B-PP +1990 CD B-NP +. . O + +The DT B-NP +rates NNS I-NP +, , O +which WDT B-NP +take VBP B-VP +effect NN B-NP +Jan. NNP B-NP +2 CD I-NP +, , O +include VBP B-VP +a DT B-NP +4 CD I-NP +% NN I-NP +increase NN I-NP +for IN B-PP +national JJ B-NP +edition NN I-NP +advertising NN I-NP +. . O + +The DT B-NP +Journal NNP I-NP +also RB B-ADVP +will MD B-VP +offer VB I-VP +expanded VBN B-NP +volume NN I-NP +and CC I-NP +frequency NN I-NP +discounts NNS I-NP +. . O + +The DT B-NP +increase NN I-NP +for IN B-PP +national JJ B-NP +edition NN I-NP +advertising NN I-NP +is VBZ B-VP +less JJR B-ADJP +than IN B-PP +the DT B-NP +inflation NN I-NP +rate NN I-NP +and CC O +compares VBZ B-VP +with IN B-PP +a DT B-NP +6.5 CD I-NP +% NN I-NP +increase NN I-NP +in IN B-PP +1989 CD B-NP +. . O + +`` `` O +Newsprint NN B-NP +and CC I-NP +postage NN I-NP +prices VBZ I-NP +this DT B-NP +year NN I-NP +have VBP B-VP +not RB I-VP +gone VBN I-VP +up IN B-ADVP +, , O +'' '' O +said VBD B-VP +Peter NNP B-NP +R. NNP I-NP +Kann NNP I-NP +, , O +president NN B-NP +of IN B-PP +Dow NNP B-NP +Jones NNP I-NP +. . O + +`` `` O +We PRP B-NP +have VBP B-VP +invested VBN I-VP +in IN B-PP +improved VBN B-NP +editorial NN I-NP +quality NN I-NP +and CC O +expanded VBN B-VP +our PRP$ B-NP +quality NN I-NP +audience NN I-NP +without IN B-PP +substantially RB B-VP +increasing VBG I-VP +our PRP$ B-NP +costs NNS I-NP +. . O + +Fundamental JJ B-NP +fairness NN I-NP +and CC O +a DT B-NP +sense NN I-NP +of IN B-PP +responsibility NN B-NP +lead NN B-VP +us PRP B-NP +to TO B-VP +share VB I-VP +operating VBG B-NP +efficiencies NNS I-NP +with IN B-PP +our PRP$ B-NP +customers NNS I-NP +. . O +'' '' O + +Advertising NN B-NP +rates NNS I-NP +for IN B-PP +the DT B-NP +Eastern NNP I-NP +, , I-NP +Midwest NNP I-NP +, , I-NP +Western JJ I-NP +and CC I-NP +Southwest NNP I-NP +editions NNS I-NP +will MD B-VP +increase VB I-VP +an DT B-NP +average JJ I-NP +5.5 CD I-NP +% NN I-NP +, , O +and CC O +rates NNS B-NP +for IN B-PP +localized JJ B-NP +advertising NN I-NP +editions NNS I-NP +will MD B-VP +increase VB I-VP +7.5 CD B-NP +% NN I-NP +. . O + +Rates NNS B-NP +for IN B-PP +the DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +Reports NNS I-NP +will MD B-VP +remain VB I-VP +unchanged JJ B-ADJP +. . O + +A DT B-NP +one-time JJ I-NP +noncontract JJ I-NP +full-page JJ I-NP +advertisement NN I-NP +in IN B-PP +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +national JJ I-NP +edition NN I-NP +will MD B-VP +cost VB I-VP +$ $ B-NP +99,385 CD I-NP +. . O + +Advertising NN B-NP +rates NNS I-NP +for IN B-PP +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal\/Europe NNP I-NP +, , O +published VBN B-VP +in IN B-PP +Brussels NNP B-NP +and CC O +printed VBN B-VP +in IN B-PP +the DT B-NP +Netherlands NNP I-NP +and CC O +Switzerland NNP B-NP +, , O +will MD B-VP +increase VB I-VP +9 CD B-NP +% NN I-NP +. . O + +Rates NNS B-NP +for IN B-PP +The DT B-NP +Asian NNP I-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +, , O +published VBN B-VP +and CC I-VP +printed VBN I-VP +in IN B-PP +Hong NNP B-NP +Kong NNP I-NP +and CC O +also RB B-ADVP +printed VBN B-VP +in IN B-PP +Singapore NNP B-NP +and CC I-NP +Tokyo NNP I-NP +, , O +will MD B-VP +rise VB I-VP +8 CD B-NP +% NN I-NP +. . O + +Rates NNS B-NP +for IN B-PP +The DT B-NP +Asian NNP I-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +Weekly NNP I-NP +, , O +published VBN B-VP +in IN B-PP +New NNP B-NP +York NNP I-NP +for IN B-PP +North NNP B-NP +American JJ I-NP +readers NNS I-NP +, , O +will MD B-VP +rise VB I-VP +6 CD B-NP +% NN I-NP +. . O + +Dow NNP B-NP +Jones NNP I-NP +also RB B-ADVP +publishes VBZ B-VP +Barron NNP B-NP +'s POS B-NP +magazine NN I-NP +, , O +other JJ B-NP +periodicals NNS I-NP +and CC O +community NN B-NP +newspapers NNS I-NP +and CC O +operates VBZ B-VP +electronic JJ B-NP +business NN I-NP +information NN I-NP +services NNS I-NP +. . O + +It PRP B-NP +owns VBZ B-VP +67 CD B-NP +% NN I-NP +of IN B-PP +Telerate NNP B-NP +Inc. NNP I-NP +, , O +a DT B-NP +leading VBG I-NP +supplier NN I-NP +of IN B-PP +computerized JJ B-NP +financial JJ I-NP +information NN I-NP +on IN B-PP +global JJ B-NP +markets NNS I-NP +. . O + +Reflecting VBG B-VP +the DT B-NP +impact NN I-NP +of IN B-PP +lower JJR B-NP +semiconductor NN I-NP +prices NNS I-NP +and CC O +cuts NNS B-NP +in IN B-PP +defense NN B-NP +spending NN I-NP +, , O +Texas NNP B-NP +Instruments NNP I-NP +Inc. NNP I-NP +said VBD B-VP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +fell VBD B-VP +31 CD B-NP +% NN I-NP +and CC O +sales NNS B-NP +dropped VBD B-VP +slightly RB B-ADVP +from IN B-PP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Net NN B-NP +fell VBD B-VP +to TO B-PP +$ $ B-NP +65 CD I-NP +million CD I-NP +, , O +or CC O +67 CD B-NP +cents NNS I-NP +a DT B-NP +common JJ I-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +93.7 CD I-NP +million CD I-NP +or CC O +$ $ B-NP +1.03 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Sales NNS B-NP +fell VBD B-VP +2.5 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +1.54 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +1.58 CD I-NP +billion CD I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +the DT B-NP +electronics NNS I-NP +and CC I-NP +defense NN I-NP +concern NN I-NP +had VBD B-VP +net NN B-NP +of IN B-PP +$ $ B-NP +255.8 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +2.70 CD I-NP +a DT B-NP +share NN I-NP +, , O +down RB B-ADVP +5.6 CD B-NP +% NN I-NP +from IN B-PP +$ $ B-NP +271 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +3.01 CD I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +the DT B-NP +year-ago JJ I-NP +period NN I-NP +. . O + +Sales NNS B-NP +were VBD B-VP +$ $ B-NP +4.66 CD I-NP +billion CD I-NP +, , O +up IN B-ADVP +1.3 CD B-NP +% NN I-NP +from IN B-PP +$ $ B-NP +4.6 CD I-NP +billion CD I-NP +. . O + +Jerry NNP B-NP +Junkins NNP I-NP +, , O +chairman NN B-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +, , O +said VBD B-VP +sluggish JJ B-NP +consumer-electronics NNS I-NP +sales NNS I-NP +reduced VBD B-VP +demand NN B-NP +for IN B-PP +semiconductors NNS B-NP +. . O + +That DT B-NP +, , O +coupled VBN B-PP +with IN B-PP +lower JJR B-NP +semiconductor NN I-NP +prices NNS I-NP +and CC O +higher JJR B-NP +semiconductor-depreciation JJ I-NP +expense NN I-NP +, , O +contributed VBD B-VP +to TO B-PP +the DT B-NP +decline NN I-NP +in IN B-PP +sales NNS B-NP +and CC I-NP +profit NN I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +cost NN B-NP +increases NNS I-NP +related VBN B-ADJP +to TO B-PP +fixed-price JJ B-NP +defense NN I-NP +contracts NNS I-NP +and CC O +a DT B-NP +$ $ I-NP +10 CD I-NP +million CD I-NP +charge NN I-NP +to TO B-VP +reduce VB I-VP +the DT B-NP +work NN I-NP +force NN I-NP +of IN B-PP +Texas NNP B-NP +Instruments NNPS I-NP +' POS B-NP +defense-electronics NNS I-NP +division NN I-NP +also RB B-ADVP +reduced VBD B-VP +net JJ B-NP +. . O + +However RB B-ADVP +, , O +the DT B-NP +quarter NN I-NP +results NNS I-NP +included VBD B-VP +$ $ B-NP +28 CD I-NP +million CD I-NP +in IN B-PP +royalty NN B-NP +income NN I-NP +from IN B-PP +patent NN B-NP +licenses NNS I-NP +, , O +up IN B-ADVP +from IN B-PP +$ $ B-NP +21 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +year-earlier JJ I-NP +period NN I-NP +. . O + +The DT B-NP +nine CD I-NP +months NNS I-NP +include VBP B-VP +$ $ B-NP +125 CD I-NP +million CD I-NP +of IN B-PP +royalty NN B-NP +income NN I-NP +, , O +up IN B-ADVP +from IN B-PP +$ $ B-NP +98 CD I-NP +million CD I-NP +last JJ B-NP +year NN I-NP +. . O + +Mr. NNP B-NP +Junkins NNP I-NP +was VBD B-VP +n't RB O +optimistic JJ B-ADJP +about IN B-PP +the DT B-NP +short-term JJ I-NP +outlook NN I-NP +, , O +hinting VBG B-VP +that IN B-SBAR +further JJ B-NP +workforce NN I-NP +reductions NNS I-NP +may MD B-VP +be VB I-VP +needed VBN I-VP +. . O + +`` `` O +We PRP B-NP +expect VBP B-VP +near-term JJ B-NP +sluggishness NN I-NP +in IN B-PP +the DT B-NP +electronics NNS I-NP +market NN I-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +, , O +`` `` O +and CC O +we PRP B-NP +will MD B-VP +take VB I-VP +ongoing JJ B-NP +cost-reduction JJ I-NP +actions NNS I-NP +as IN O +necessary JJ B-ADJP +to TO B-VP +keep VB I-VP +operations NNS B-NP +aligned VBN B-VP +with IN B-PP +demand NN B-NP +. . O +'' '' O + +Further RB B-ADVP +, , O +he PRP B-NP +said VBD B-VP +, , O +an DT B-NP +internal JJ I-NP +reorganization NN I-NP +to TO B-VP +combine VB I-VP +several JJ B-NP +divisions NNS I-NP +into IN B-PP +the DT B-NP +Information NNP I-NP +Technology NNP I-NP +Group NNP I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +affect VB I-VP +fourth-quarter JJ B-NP +results NNS I-NP +by IN B-PP +an DT B-NP +undisclosed JJ I-NP +amount NN I-NP +. . O + +Lynch NNP B-NP +Corp. NNP I-NP +said VBD B-VP +its PRP$ B-NP +Lynch NNP I-NP +Telephone NNP I-NP +Corp. NNP I-NP +subsidiary NN I-NP +completed VBD B-VP +the DT B-NP +acquisition NN I-NP +of IN B-PP +Western NNP B-NP +New NNP I-NP +Mexico NNP I-NP +Telephone NNP I-NP +Co. NNP I-NP +for IN B-PP +$ $ B-NP +20 CD I-NP +million CD I-NP +plus CC B-NP +assumption NN B-NP +of IN B-PP +$ $ B-NP +24 CD I-NP +million CD I-NP +of IN B-PP +debt NN B-NP +. . O + +Western NNP B-NP +New NNP I-NP +Mexico NNP I-NP +Telephone NNP I-NP +, , O +Silver NNP B-NP +City NNP I-NP +, , O +had VBD B-VP +net JJ B-NP +income NN I-NP +of IN B-PP +$ $ B-NP +1.9 CD I-NP +million CD I-NP +on IN B-PP +revenue NN B-NP +of IN B-PP +about RB B-NP +$ $ I-NP +10 CD I-NP +million CD I-NP +last JJ B-NP +year NN I-NP +. . O + +It PRP B-NP +is VBZ B-VP +an DT B-NP +independent JJ I-NP +phone NN I-NP +company NN I-NP +with IN B-PP +a DT B-NP +service NN I-NP +area NN I-NP +of IN B-PP +15,000 CD B-NP +square NN I-NP +miles NNS I-NP +in IN B-PP +southwest RB B-NP +New NNP I-NP +Mexico NNP I-NP +. . O + +It PRP B-NP +is VBZ B-VP +also RB B-ADVP +a DT B-NP +partner NN I-NP +in IN B-PP +the DT B-NP +wireline JJ I-NP +cellular JJ I-NP +franchise NN I-NP +covering VBG B-VP +most RBS B-NP +of IN B-PP +western JJ B-NP +New NNP I-NP +Mexico NNP I-NP +. . O + +The DT B-NP +transaction NN I-NP +represents VBZ B-VP +Lynch NNP B-NP +'s POS B-NP +entry NN I-NP +into IN B-PP +the DT B-NP +telephone NN I-NP +business NN I-NP +. . O + +The DT B-NP +company NN I-NP +, , O +which WDT B-NP +has VBZ B-VP +interests NNS B-NP +in IN B-PP +television NN B-NP +, , O +trucking NN B-NP +services NNS I-NP +, , O +and CC O +glass-making NN B-NP +and CC I-NP +food-processing NN I-NP +equipment NN I-NP +, , O +said VBD B-VP +it PRP B-NP +plans VBZ B-VP +to TO I-VP +make VB I-VP +other JJ B-NP +acquisitions NNS I-NP +in IN B-PP +the DT B-NP +telephone NN I-NP +industry NN I-NP +. . O + +Nelson NNP B-NP +Bunker NNP I-NP +Hunt NNP I-NP +'s POS B-NP +attempted VBD I-NP +corner NN I-NP +on IN B-PP +silver NN B-NP +a DT B-NP +decade NN I-NP +ago RB B-ADVP +is VBZ B-VP +still RB I-VP +haunting JJ I-VP +the DT B-NP +market NN I-NP +in IN B-PP +this DT B-NP +metal NN I-NP +. . O + +Silver NN B-NP +, , O +now JJ B-VP +trading NN I-VP +around IN B-NP +$ $ I-NP +5 VBG I-NP +an DT B-NP +ounce NN I-NP +, , O +surged VBD B-VP +to TO B-PP +an DT B-NP +all-time JJ I-NP +peak NN I-NP +of IN B-PP +$ $ B-NP +50 CD I-NP +an DT B-NP +ounce NN I-NP +in IN B-PP +January NNP B-NP +1980 CD I-NP +from IN B-PP +around IN B-NP +$ $ I-NP +9 CD I-NP +in IN B-PP +mid-1979 NN B-NP +. . O + +`` `` O +Mr. NNP B-NP +Hunt NNP I-NP +'s POS B-NP +attempt NN I-NP +to TO B-VP +squeeze VB I-VP +the DT B-NP +silver NN I-NP +market NN I-NP +10 CD B-NP +years NNS I-NP +ago RB B-ADVP +is VBZ B-VP +still RB B-ADVP +indirectly RB B-ADVP +to TO B-VP +blame VB I-VP +for IN B-PP +today NN B-NP +'s POS B-NP +market NN I-NP +depression NN I-NP +, , O +'' '' O +says VBZ B-VP +Lesley NNP B-NP +Edgar NNP I-NP +, , O +managing VBG B-NP +director NN I-NP +of IN B-PP +Sharps NNP B-NP +Pixley NNP I-NP +Ltd. NNP I-NP +, , O +London NNP B-NP +bullion NN I-NP +brokers NNS I-NP +. . O + +While IN B-SBAR +some DT B-NP +100 CD I-NP +million CD I-NP +ounces NNS I-NP +of IN B-PP +silver NN B-NP +once RB B-VP +held VBD I-VP +by IN B-PP +Mr. NNP B-NP +Hunt NNP I-NP +and CC O +Middle NNP B-NP +Eastern NNP I-NP +associates NNS I-NP +are VBP B-VP +n't RB I-VP +hanging VBG I-VP +over IN B-PP +the DT B-NP +market NN I-NP +anymore RB B-ADVP +, , O +the DT B-NP +price NN I-NP +surge NN I-NP +of IN B-PP +1979-80 CD B-NP +precipitated VBD B-VP +an DT B-NP +expansion NN I-NP +of IN B-PP +mine NN B-NP +production NN I-NP +and CC O +scrap NN B-NP +recovery NN I-NP +and CC O +encouraged VBN B-VP +silver NN B-NP +consumers NNS I-NP +to TO B-VP +economize VB I-VP +on IN B-PP +silver NN B-NP +use NN I-NP +, , O +Mr. NNP B-NP +Edgar NNP I-NP +says VBZ B-VP +. . O + +Photographic JJ B-NP +developers NNS I-NP +, , O +for IN B-PP +example NN B-NP +, , O +bought VBD B-VP +equipment NN B-NP +to TO B-VP +recover VB I-VP +silver NN B-NP +from IN B-PP +spent VBN B-NP +photographs NNS I-NP +, , I-NP +negatives NNS I-NP +and CC I-NP +processing NN I-NP +solutions NNS I-NP +. . O + +Meanwhile RB B-ADVP +, , O +the DT B-NP +photographic JJ I-NP +industry NN I-NP +, , O +which WDT B-NP +accounts VBZ B-VP +for IN B-PP +44 CD B-NP +% NN I-NP +of IN B-PP +silver NN B-NP +consumption NN I-NP +, , O +continues VBZ B-VP +to TO I-VP +look VB I-VP +for IN B-PP +substitutes NNS B-NP +. . O + +Japanese JJ B-NP +and CC I-NP +U.S. NNP I-NP +photographic JJ I-NP +firms NNS I-NP +are VBP B-VP +beginning VBG I-VP +to TO I-VP +produce VB I-VP +electronic JJ B-NP +cameras NNS I-NP +and CC I-NP +X-rays NNS I-NP +that WDT B-NP +do VBP B-VP +n't RB I-VP +require VB I-VP +silver NN B-NP +, , O +dealers NNS B-NP +say VBP B-VP +. . O + +Silver NN B-NP +'s POS B-NP +history NN I-NP +of IN B-PP +volatility NN B-NP +is VBZ B-VP +also RB I-VP +discouraging VBG I-VP +investors NNS B-NP +, , O +dealers NNS B-NP +say VBP B-VP +. . O + +Even RB B-ADVP +in IN B-PP +the DT B-NP +present JJ I-NP +uncertain JJ I-NP +investment NN I-NP +climate NN I-NP +, , O +investors NNS B-NP +are VBP B-VP +preferring VBG I-VP +`` `` O +quality NN B-NP +assets NNS I-NP +'' '' O +such JJ B-PP +as IN I-PP +Treasury NNP B-NP +bills NNS I-NP +and CC O +bonds NNS B-NP +to TO B-PP +gold NN B-NP +, , I-NP +silver NN I-NP +and CC I-NP +platinum NN I-NP +, , O +dealers NNS B-NP +say VBP B-VP +. . O + +Although IN B-SBAR +prices NNS B-NP +rallied VBD B-VP +briefly NN B-ADVP +following VBG B-PP +the DT B-NP +tumble NN I-NP +on IN B-PP +world NN B-NP +stock NN I-NP +markets NNS I-NP +earlier RBR B-NP +this DT I-NP +month NN I-NP +and CC O +the DT B-NP +related VBN I-NP +decline NN I-NP +of IN B-PP +the DT B-NP +dollar NN I-NP +, , O +precious JJ B-NP +metals NNS I-NP +are VBP B-VP +out IN B-PP +of IN B-PP +favor NN B-NP +for IN B-PP +the DT B-NP +moment NN I-NP +because IN B-PP +of IN I-PP +high JJ B-NP +interest NN I-NP +rates NNS I-NP +and CC O +a DT B-NP +determination NN I-NP +by IN B-PP +industrial JJ B-NP +nations NNS I-NP +to TO B-VP +curb VB I-VP +inflation NN B-NP +, , O +dealers NNS B-NP +say VBP B-VP +. . O + +Silver NN B-NP +, , O +however RB B-ADVP +is VBZ B-VP +in IN B-PP +a DT B-NP +deeper JJR I-NP +slump NN I-NP +than IN B-SBAR +are VBP B-VP +gold NN B-NP +and CC I-NP +platinum NN I-NP +. . O + +Some DT B-NP +analysts NNS I-NP +contend VBP B-VP +that DT O +silver NN B-NP +is VBZ B-VP +cheap JJ B-ADJP +now RB B-SBAR +that IN I-SBAR +prices NNS B-NP +are VBP B-VP +languishing VBG I-VP +at IN B-PP +levels NNS B-NP +last RB B-VP +seen VBN I-VP +in IN B-PP +the DT B-NP +mid-1970s NNS I-NP +. . O + +`` `` O +Bargain NN B-NP +hunters NNS I-NP +believe VBP B-VP +that DT O +silver NN B-NP +offers VBZ B-VP +the DT B-NP +best JJS I-NP +value NN I-NP +amongst IN B-PP +precious JJ B-NP +metals NNS I-NP +, , O +'' '' O +says VBZ B-VP +Frederick NNP B-NP +R. NNP I-NP +Demler NNP I-NP +, , O +analyst NN B-NP +at IN B-PP +Drexel NNP B-NP +Burnham NNP I-NP +Lambert NNP I-NP +Inc NNP I-NP +. . O + +A DT B-NP +further JJ I-NP +decline NN I-NP +in IN B-PP +prices NNS B-NP +will MD B-VP +lead VB I-VP +to TO B-PP +mine VB B-NP +production NN I-NP +cuts NNS I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +, , O +he PRP B-NP +says VBZ B-VP +. . O + +Scrap NN B-NP +merchants NNS I-NP +are VBP B-VP +converting VBG I-VP +smaller JJR B-NP +quantities NNS I-NP +of IN B-PP +metal NN B-NP +into IN B-PP +silver NN B-NP +, , O +while IN B-SBAR +low JJ B-NP +prices NNS I-NP +are VBP B-VP +discouraging VBG I-VP +exports NNS B-NP +from IN B-PP +India NNP B-NP +and CC O +the DT B-NP +Soviet NNP I-NP +Union NNP I-NP +. . O + +Silver JJ B-NP +prices NNS I-NP +could MD B-VP +also RB I-VP +be VB I-VP +boosted VBN I-VP +by IN B-PP +strikes NNS B-NP +in IN B-PP +leading VBG B-NP +producing VBG I-NP +nations NNS I-NP +Peru NNP I-NP +and CC I-NP +Mexico NNP I-NP +, , O +Mr. NNP B-NP +Demler NNP I-NP +says VBZ B-VP +. . O + +Meanwhile RB B-ADVP +, , O +total JJ B-NP +fabrication NN I-NP +demand NN I-NP +for IN B-PP +silver NN B-NP +has VBZ B-VP +risen VBN I-VP +six CD B-NP +years NNS I-NP +in IN B-PP +a DT B-NP +row NN I-NP +, , O +he PRP B-NP +says VBZ B-VP +. . O + +Japanese JJ B-NP +demand NN I-NP +grew VBN B-VP +by IN B-PP +70 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +first JJ I-NP +half NN I-NP +of IN B-PP +this DT B-NP +year NN I-NP +and CC O +the DT B-NP +nation NN I-NP +plans VBZ B-VP +an DT B-NP +issue NN I-NP +of IN B-PP +a DT B-NP +silver NN I-NP +commemorative JJ I-NP +coin NN I-NP +that WDT B-NP +will MD B-VP +require VB I-VP +4.5 CD B-NP +million CD I-NP +ounces NNS I-NP +. . O + +Compared VBN B-PP +with IN B-PP +huge JJ B-NP +annual JJ I-NP +surpluses NNS I-NP +of IN B-PP +more JJR B-NP +than IN I-NP +100 CD I-NP +million CD I-NP +ounces NNS I-NP +in IN B-PP +the DT B-NP +first JJ I-NP +half NN I-NP +of IN B-PP +the DT B-NP +1980s CD I-NP +, , O +world NN B-NP +silver NN I-NP +supplies NNS I-NP +and CC I-NP +consumption NN I-NP +are VBP B-VP +now RB B-ADVP +nearly RB B-ADVP +in IN B-PP +balance NN B-NP +, , O +Mr. NNP B-NP +Demler NNP I-NP +says VBZ B-VP +. . O + +Despite IN B-PP +intermittent JJ B-NP +rallies NNS I-NP +in IN B-PP +the DT B-NP +past JJ I-NP +few JJ I-NP +years NNS I-NP +, , O +improvements NNS B-NP +in IN B-PP +the DT B-NP +supply-demand JJ I-NP +balance NN I-NP +have VBP B-VP +n't RB I-VP +managed VBN I-VP +to TO I-VP +push VB I-VP +silver NN B-NP +prices NNS I-NP +into IN B-PP +a DT B-NP +higher JJR I-NP +range NN I-NP +. . O + +`` `` O +There EX B-NP +'s VBZ B-VP +just RB B-ADVP +too RB B-NP +much JJ I-NP +silver NN I-NP +around IN B-ADVP +, , O +'' '' O +says VBZ B-VP +Tom NNP B-NP +Butler NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +at IN B-PP +Samuel NNP B-NP +Montagu NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +a DT B-NP +London NNP I-NP +bullion NN I-NP +house NN I-NP +. . O + +A DT B-NP +huge JJ I-NP +silver NN I-NP +stockpile NN I-NP +at IN B-PP +exchanges NNS B-NP +, , O +refiners NNS B-NP +, , O +consuming VBG B-NP +industries NNS I-NP +and CC O +government NN B-NP +warehouses NNS I-NP +of IN B-PP +at IN B-NP +least JJS I-NP +617 CD I-NP +million CD I-NP +ounces NNS I-NP +is VBZ B-VP +the DT B-NP +market NN I-NP +depressant NN I-NP +, , O +says VBZ B-VP +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +Inc. NNP I-NP +in IN B-PP +a DT B-NP +report NN I-NP +. . O + +This DT B-NP +year NN I-NP +alone RB B-ADVP +, , O +inventories NNS B-NP +at IN B-PP +the DT B-NP +Commodity NNP I-NP +Exchange NNP I-NP +of IN B-PP +New NNP B-NP +York NNP I-NP +jumped VBD B-VP +`` `` O +by IN B-PP +a DT B-NP +staggering JJ I-NP +46 CD I-NP +million CD I-NP +to TO B-PP +221 CD B-NP +million CD I-NP +ounces NNS I-NP +'' '' O +because IN B-PP +of IN I-PP +producer NN B-NP +deliveries NNS I-NP +, , O +de-stocking NN B-NP +by IN B-PP +fabricators NNS B-NP +and CC O +sales NNS B-NP +by IN B-PP +disenchanted JJ B-NP +investors NNS I-NP +, , O +says VBZ B-VP +Rhona NNP B-NP +O'Connell NNP I-NP +, , O +London-based JJ B-NP +precious JJ I-NP +metals NNS I-NP +analyst NN I-NP +at IN B-PP +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +. . O + +`` `` O +Silver NN B-NP +production NN I-NP +is VBZ B-VP +also RB B-ADVP +in IN B-PP +an DT B-NP +inexorable JJ I-NP +upward JJ I-NP +trend NN I-NP +, , O +'' '' O +Ms. NNP B-NP +O'Connell NNP I-NP +says VBZ B-VP +. . O + +Moreover RB B-ADVP +, , O +while IN B-SBAR +Asian JJ B-NP +and CC I-NP +Middle NNP I-NP +Eastern NNP I-NP +investors NNS I-NP +hoard VBP B-VP +gold NN B-NP +and CC O +help VB B-VP +underpin VB I-VP +its PRP$ B-NP +price NN I-NP +, , O +silver NN B-NP +does VBZ B-VP +n't RB I-VP +have VB I-VP +the DT B-NP +same JJ I-NP +mystique NN I-NP +, , O +dealers NNS B-NP +say VBP B-VP +. . O + +Investors NNS B-NP +have VBP B-VP +gotten VBN I-VP +burned VBN I-VP +on IN B-PP +silver NN B-NP +so RB B-ADVP +often RB I-ADVP +that IN B-SBAR +they PRP B-NP +are VBP B-VP +far RB B-ADJP +more RBR I-ADJP +partial JJ I-ADJP +to TO B-PP +gold NN B-NP +, , O +says VBZ B-VP +Urs NNP B-NP +Seiler NNP I-NP +, , O +senior JJ B-NP +vice NN I-NP +president NN I-NP +at IN B-PP +Union NNP B-NP +Bank NNP I-NP +of IN B-PP +Switzerland NNP B-NP +. . O + +Yet RB O +if IN B-SBAR +gold NN B-NP +prices NNS I-NP +improve VBP B-VP +, , O +silver NN B-NP +prices NNS I-NP +could MD B-VP +rally VB I-VP +sharply RB B-ADVP +, , O +he PRP B-NP +says VBZ B-VP +. . O + +However RB B-ADVP +, , O +dealers NNS B-NP +caution VBP B-VP +that IN B-SBAR +any DT B-NP +increase NN I-NP +would MD B-VP +be VB I-VP +$ $ B-NP +1 CD I-NP +to TO I-NP +$ $ I-NP +2 CD I-NP +at IN B-ADVP +most RBS I-ADVP +. . O + +Looking VBG B-VP +ahead RB B-ADVP +to TO B-PP +other JJ B-NP +commodity NN I-NP +markets VBZ I-NP +this DT B-NP +week NN I-NP +: : O + +Livestock NN B-NP +and CC I-NP +Meats NNS I-NP + +Analysts NNS B-NP +expect VBP B-VP +the DT B-NP +prices NNS I-NP +of IN B-PP +live VB B-NP +cattle NNS I-NP +futures NNS I-NP +contracts NNS I-NP +to TO B-VP +rise VB I-VP +in IN B-PP +trading NN B-NP +today NN B-NP +in IN B-PP +the DT B-NP +wake NN I-NP +of IN B-PP +a DT B-NP +government NN I-NP +quarterly JJ I-NP +census NN I-NP +that WDT B-NP +found VBD B-VP +fewer-than-expected JJ B-NP +cattle NNS I-NP +on IN B-PP +feedlots NNS B-NP +. . O + +After IN B-PP +the DT B-NP +close NN I-NP +of IN B-PP +trading NN B-NP +Friday NNP B-NP +, , O +the DT B-NP +Agriculture NNP I-NP +Department NNP I-NP +reported VBD B-VP +that IN B-SBAR +feedlots NNS B-NP +in IN B-PP +the DT B-NP +13 CD I-NP +biggest JJS I-NP +ranch NN I-NP +states NNS I-NP +held VBN B-VP +8.06 CD B-NP +million CD I-NP +cattle NNS I-NP +on IN B-PP +Oct. NNP B-NP +1 CD I-NP +, , O +down RB B-ADVP +6 CD B-NP +% NN I-NP +from IN B-PP +that DT B-NP +date NN I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Most JJS B-NP +analysts NNS I-NP +had VBD B-VP +expected VBN I-VP +the DT B-NP +government NN I-NP +to TO B-VP +report VB I-VP +a DT B-NP +4 CD I-NP +% NN I-NP +decline NN I-NP +. . O + +Feedlots NNS B-NP +fatten VBP B-VP +young JJ B-NP +cattle NNS I-NP +for IN B-PP +slaughter NN B-NP +, , O +so RB O +a DT B-NP +decline NN I-NP +signals VBZ B-VP +a DT B-NP +tightening VBG I-NP +supply NN I-NP +of IN B-PP +beef NN B-NP +. . O + +The DT B-NP +government NN I-NP +reported VBD B-VP +that IN B-SBAR +the DT B-NP +number NN I-NP +of IN B-PP +young JJ B-NP +cattle NNS I-NP +placed VBN B-VP +on IN B-PP +feedlots NNS B-NP +during IN B-PP +the DT B-NP +quarter NN I-NP +dropped VBD B-VP +5 NN B-NP +% NN I-NP +compared VBN B-PP +with IN B-PP +the DT B-NP +year-earlier JJ I-NP +quarter NN I-NP +. . O + +Many JJ B-NP +industry NN I-NP +analysts NNS I-NP +had VBD B-VP +been VBN I-VP +projecting VBG I-VP +a DT B-NP +3 CD I-NP +% NN I-NP +decline NN I-NP +in IN B-PP +placements NNS B-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +. . O + +In IN B-PP +the DT B-NP +1988 CD I-NP +quarter NN I-NP +, , O +many JJ B-NP +farmers NNS I-NP +were VBD B-VP +forced VBN I-VP +to TO I-VP +sell VB I-VP +their PRP$ B-NP +cattle NNS I-NP +to TO B-PP +feedlot NN B-NP +operators NNS I-NP +because IN B-SBAR +the DT B-NP +drought NN I-NP +dried VBD B-VP +out RP B-PRT +the IN B-NP +pasture NN I-NP +on IN B-PP +their PRP$ B-NP +ranches NNS I-NP +. . O + +The DT B-NP +number NN I-NP +of IN B-PP +cattle NNS B-NP +moving VBG B-VP +onto IN B-PP +feedlots NNS B-NP +in IN B-PP +the DT B-NP +recent JJ I-NP +quarter NN I-NP +was VBD B-VP +also RB B-ADVP +lower JJR B-ADJP +because IN B-SBAR +fattening VBG B-VP +cattle NNS B-NP +is VBZ B-VP +less RBR B-ADJP +profitable JJ I-ADJP +. . O + +A DT B-NP +shortage NN I-NP +of IN B-PP +young JJ B-NP +cattle NNS I-NP +has VBZ B-VP +made VBN I-VP +them PRP B-NP +more RBR B-ADJP +expensive JJ I-ADJP +for IN B-SBAR +feedlot NN B-NP +operators NNS I-NP +to TO B-VP +buy VB I-VP +. . O + +The DT B-NP +Agriculture NNP I-NP +Department NNP I-NP +also RB B-ADVP +said VBD B-VP +that IN B-SBAR +the DT B-NP +number NN I-NP +of IN B-PP +fattened VBN B-NP +cattle NNS I-NP +slaughtered VBN B-VP +in IN B-PP +the DT B-NP +quarter NN I-NP +dropped VBN B-VP +by IN B-PP +5 NN B-NP +% NN I-NP +from IN B-PP +the DT B-NP +1988 CD I-NP +quarter NN I-NP +, , O +which WDT B-NP +was VBD B-VP +in IN B-PP +line NN B-NP +with IN B-PP +projections NNS B-NP +by IN B-PP +analysts NNS B-NP +. . O + +Energy NNP B-NP + +Friday NNP B-NP +'s POS B-NP +44-cent-a-barrel JJ I-NP +price NN I-NP +drop NN I-NP +to TO B-PP +$ $ B-NP +19.98 CD I-NP +in IN B-PP +the DT B-NP +expiring VBG I-NP +November NNP I-NP +contract NN I-NP +for IN B-PP +West NNP B-NP +Texas NNP I-NP +Intermediate NNP I-NP +crude NN I-NP +may MD B-VP +well RB I-VP +set VBN I-VP +the DT B-NP +tone NN I-NP +for IN B-PP +trading VBG B-NP +this DT B-NP +week NN I-NP +in IN B-PP +petroleum NN B-NP +futures NNS I-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Mercantile NNP I-NP +Exchange NNP I-NP +. . O + +Most JJS B-NP +traders NNS I-NP +and CC I-NP +analysts NNS I-NP +attributed VBD B-VP +the DT B-NP +decline NN I-NP +to TO B-PP +technical JJ B-NP +factors NNS I-NP +associated VBN B-VP +with IN B-PP +the DT B-NP +contract NN I-NP +'s POS B-NP +going VBG B-VP +off IN B-PP +the DT B-NP +board NN I-NP +. . O + +Others NNS B-NP +said VBD B-VP +that IN B-SBAR +the DT B-NP +drop NN I-NP +continued VBD B-VP +the DT B-NP +downward JJ I-NP +correction NN I-NP +that WDT B-NP +'s VBZ B-VP +been VBN I-VP +due JJ B-ADJP +in IN B-PP +the DT B-NP +petroleum NN I-NP +pits NNS I-NP +and CC O +that IN B-SBAR +such JJ B-NP +a DT I-NP +trend NN I-NP +could MD B-VP +well RB I-VP +continue VB I-VP +in IN B-PP +the DT B-NP +next JJ I-NP +several JJ I-NP +trading NN I-NP +sessions NNS I-NP +. . O + +Barring VBG B-PP +any DT B-NP +petroleum-related JJ I-NP +news NN I-NP +events NNS I-NP +, , O +trading NN B-NP +in IN B-PP +the DT B-NP +days NNS I-NP +ahead RB B-ADVP +should MD B-VP +further VB I-VP +test NN I-VP +recent JJ B-NP +projections NNS I-NP +by IN B-PP +oil NN B-NP +economists NNS I-NP +and CC O +other JJ B-NP +market NN I-NP +watchers NNS I-NP +that IN B-SBAR +strong JJ B-NP +fourth-quarter JJ I-NP +demand NN I-NP +will MD B-VP +keep VB I-VP +prices NNS B-NP +firm NN B-ADJP +. . O + +Copper NN B-NP + +Copper NN B-NP +prices NNS I-NP +fell VBD B-VP +sharply RB B-ADVP +Friday NNP B-NP +afternoon NN I-NP +. . O + +For IN B-PP +example NN B-NP +, , O +copper NN B-NP +for IN B-PP +December NNP B-NP +delivery NN I-NP +settled VBD B-VP +4.5 CD B-NP +cents NNS I-NP +lower JJR B-ADVP +at IN B-PP +$ $ B-NP +1.2345 CD I-NP +a DT B-NP +pound NN I-NP +. . O + +Pressure NN B-NP +came VBD B-VP +from IN B-PP +several JJ B-NP +developments NNS I-NP +including VBG B-PP +the DT B-NP +settlement NN I-NP +of IN B-PP +two CD B-NP +long-term JJ I-NP +strikes NNS I-NP +. . O + +On IN B-PP +Friday NNP B-NP +, , O +one CD B-NP +analyst NN I-NP +said VBD B-VP +, , O +rank-and-file JJ B-NP +workers NNS I-NP +ratified VBD B-VP +a DT B-NP +new JJ I-NP +labor NN I-NP +agreement NN I-NP +ending VBG B-VP +a DT B-NP +three-month JJ I-NP +strike NN I-NP +at IN B-PP +the DT B-NP +Highland NNP I-NP +Valley NNP I-NP +mine NN I-NP +in IN B-PP +British NNP B-NP +Columbia NNP I-NP +. . O + +In IN B-PP +Mexico NNP B-NP +, , O +the DT B-NP +analyst NN I-NP +added VBD B-VP +, , O +employees VBZ B-NP +at IN B-PP +the DT B-NP +Cananea NNP I-NP +mine NN I-NP +, , O +who WP B-NP +have VBP B-VP +been VBN I-VP +out IN B-PP +of IN B-PP +work NN B-NP +since IN B-PP +late JJ B-NP +August NNP I-NP +when WRB B-ADVP +the DT B-NP +mine NN I-NP +was VBD B-VP +declared VBN I-VP +bankrupt JJ B-ADJP +by IN B-PP +the DT B-NP +government NN I-NP +, , O +accepted VBD B-VP +a DT B-NP +35 CD I-NP +% NN I-NP +cut NN I-NP +in IN B-PP +the DT B-NP +3,800-man JJ I-NP +work NN I-NP +force NN I-NP +. . O + +The DT B-NP +mine NN I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +return VB I-VP +to TO B-PP +production NN B-NP +in IN B-PP +about IN B-NP +a DT I-NP +week NN I-NP +. . O + +On IN B-PP +Friday NNP B-NP +, , O +selling VBG B-NP +dominated VBN B-VP +the DT B-NP +afternoon NN I-NP +`` `` I-NP +curb VB I-NP +'' '' I-NP +session NN I-NP +in IN B-PP +London NNP B-NP +, , O +which WDT B-NP +takes VBZ B-VP +place NN B-NP +at IN B-PP +noon NN B-NP +EDT NNP I-NP +. . O + +The DT B-NP +premium NN I-NP +of IN B-PP +cash NN B-NP +copper NN I-NP +to TO B-PP +the DT B-NP +three-month JJ I-NP +forward JJ I-NP +offerings NNS I-NP +narrowed VBD B-VP +, , O +indicating VBG B-VP +weaker JJR B-NP +demand NN I-NP +for IN B-PP +cash NN B-NP +copper NN I-NP +. . O + +Long-term JJ B-NP +support NN I-NP +for IN B-PP +the DT B-NP +December NNP I-NP +contract NN I-NP +was VBD B-VP +believed VBN I-VP +to TO I-VP +be VB I-VP +at IN B-PP +$ $ B-NP +1.25 CD I-NP +a DT B-NP +pound NN I-NP +. . O + +A DT B-NP +technical JJ I-NP +analyst NN I-NP +said VBD B-VP +there EX B-NP +were VBD B-VP +a DT B-NP +number NN I-NP +of IN B-PP +stop-loss NN B-NP +orders NNS I-NP +under IN B-PP +that DT B-NP +level NN I-NP +that WDT B-NP +were VBD B-VP +touched VBN I-VP +off IN B-PRT +when WRB B-ADVP +the DT B-NP +contract NN I-NP +'s POS B-NP +price NN I-NP +fell VBD B-VP +below IN B-PP +it PRP B-NP +. . O + +That DT B-NP +brought VBN B-VP +in IN B-ADVP +considerable JJ B-NP +fund NN I-NP +selling VBG I-NP +, , O +which WDT B-NP +continued VBD B-VP +until IN B-PP +the DT B-NP +close NN I-NP +of IN B-PP +trading NN B-NP +. . O + +`` `` O +In IN B-PP +general JJ B-NP +, , O +it PRP B-NP +was VBD B-VP +a DT B-NP +bearish JJ I-NP +close NN I-NP +, , O +'' '' O +said VBD B-VP +Ben NNP B-NP +Hanauer NNP I-NP +, , O +a DT B-NP +copper NN I-NP +trader NN I-NP +at IN B-PP +Rudolph NNP B-NP +Wolff NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +a DT B-NP +major JJ I-NP +commodities NNS I-NP +trading NN I-NP +and CC I-NP +brokerage NN I-NP +firm NN I-NP +. . O + +But CC O +whether IN B-SBAR +this DT B-NP +price NN I-NP +break NN I-NP +has VBZ B-VP +implications NNS B-NP +for IN B-PP +this DT B-NP +week NN I-NP +, , O +he PRP B-NP +said VBD B-VP +, , O +`` `` O +we PRP B-NP +will MD B-VP +know VB I-VP +more JJR B-NP +when WRB B-ADVP +the DT B-NP +London NNP I-NP +Metal NNP I-NP +Exchange NNP I-NP +copper NN I-NP +stock NN I-NP +levels NNS I-NP +are VBP B-VP +released VBN I-VP +Monday NNP B-NP +morning NN I-NP +. . O +'' '' O + +Another DT B-NP +analyst NN I-NP +said VBD B-VP +he PRP B-NP +expected VBD B-VP +LME NNP B-NP +inventories NNS I-NP +to TO B-VP +be VB I-VP +down RB B-ADJP +by IN B-PP +about IN B-NP +15,000 CD I-NP +tons NNS I-NP +when WRB B-ADVP +the DT B-NP +weekly JJ I-NP +report NN I-NP +is VBZ B-VP +issued VBN I-VP +. . O + +Bernard NNP B-NP +Savaiko NNP I-NP +, , O +senior JJ B-NP +commodities NNS I-NP +analyst NN I-NP +at IN B-PP +PaineWebber NNP B-NP +Inc. NNP I-NP +, , O +said VBD B-VP +that IN B-SBAR +when WRB B-ADVP +traders NNS B-NP +saw VBD B-VP +the DT B-NP +market NN I-NP +was VBD B-VP +n't RB I-VP +reacting VBG I-VP +positively RB B-ADVP +to TO B-PP +the DT B-NP +forecasts NNS I-NP +of IN B-PP +lower JJR B-NP +LME NNP I-NP +stocks NNS I-NP +, , O +they PRP B-NP +perceived VBD B-VP +a DT B-NP +bearish JJ I-NP +sign NN I-NP +. . O + +He PRP B-NP +also RB B-ADVP +noted VBD B-VP +that IN B-SBAR +the DT B-NP +Japanese NN I-NP +, , O +who WP B-NP +had VBD B-VP +been VBN I-VP +buying VBG I-VP +at IN B-PP +prices NNS B-NP +just RB B-ADVP +above IN B-PP +the DT B-NP +$ $ I-NP +1.25 CD I-NP +level NN I-NP +, , O +apparently RB B-ADVP +pulled VBD B-VP +back RB B-ADVP +from IN B-PP +the DT B-NP +market NN I-NP +on IN B-PP +Friday NNP B-NP +. . O + +Mr. NNP B-NP +Savaiko NNP I-NP +said VBD B-VP +he PRP B-NP +sees VBZ B-VP +a DT B-NP +possibility NN I-NP +of IN B-PP +the DT B-NP +December NNP I-NP +contract NN I-NP +dropping VBG B-VP +to TO B-PP +$ $ B-NP +1.05 CD I-NP +a DT B-NP +pound NN I-NP +. . O + +Hewlett-Packard NNP B-NP +Co. NNP I-NP +will MD B-VP +announce VB I-VP +today NN B-NP +a DT B-NP +software NN I-NP +program NN I-NP +that WDT B-NP +allows VBZ B-VP +computers NNS B-NP +in IN B-PP +a DT B-NP +network NN I-NP +to TO B-VP +speed VB I-VP +up IN B-PRT +computing VBG B-NP +tasks NNS I-NP +by IN B-PP +sending VBG B-VP +the DT B-NP +tasks NNS I-NP +to TO B-PP +each DT B-NP +other NN I-NP +. . O + +Called VBN B-VP +Task NNP B-NP +Broker NNP I-NP +, , O +the DT B-NP +program NN I-NP +acts NNS B-VP +something NN B-NP +like IN B-PP +an DT B-NP +auctioneer NN I-NP +among IN B-PP +a DT B-NP +group NN I-NP +of IN B-PP +computers NNS B-NP +wired VBN B-VP +together RB B-ADVP +. . O + +If IN B-SBAR +a DT B-NP +machine NN I-NP +has VBZ B-VP +a DT B-NP +big JJ I-NP +computing NN I-NP +task NN I-NP +, , O +Task NNP B-NP +Broker NNP I-NP +asks VBZ B-VP +other JJ B-NP +computers NNS I-NP +in IN B-PP +the DT B-NP +network NN I-NP +for IN B-PP +`` `` O +bids NNS B-NP +'' '' O +on IN B-PP +the DT B-NP +job NN I-NP +. . O + +It PRP B-NP +then RB B-ADVP +determines VBZ B-VP +which WDT B-NP +machine NN I-NP +is VBZ B-VP +free JJ B-ADJP +to TO B-VP +do VB I-VP +the DT B-NP +task NN I-NP +most RBS B-ADVP +quickly RB I-ADVP +and CC O +sends VBZ B-VP +the DT B-NP +task NN I-NP +to TO B-PP +that DT B-NP +machine NN I-NP +. . O + +Hewlett-Packard NNP B-NP +claims NNS B-VP +that IN B-SBAR +the DT B-NP +software NN I-NP +allows VBZ B-VP +a DT B-NP +network NN I-NP +to TO B-VP +run VB I-VP +three CD B-NP +times NNS I-NP +as IN I-NP +many JJ I-NP +tasks NNS I-NP +as IN B-PP +conventional JJ B-NP +networks NNS I-NP +and CC O +will MD B-VP +run VB I-VP +each DT B-NP +task NN I-NP +twice RB B-ADVP +as IN I-ADVP +fast RB I-ADVP +. . O + +The DT B-NP +new JJ I-NP +Hewlett-Packard NNP I-NP +program NN I-NP +, , O +said VBD B-VP +analyst NN B-NP +John NNP I-NP +McCarthy NNP I-NP +at IN B-PP +Forrester NNP B-NP +Research NNP I-NP +Inc. NNP I-NP +, , O +a DT B-NP +computer-market JJ I-NP +research NN I-NP +company NN I-NP +, , O +`` `` O +is VBZ B-VP +a DT B-NP +key JJ I-NP +building NN I-NP +block NN I-NP +as IN B-SBAR +people NNS B-NP +move VBP B-VP +to TO B-PP +this DT B-NP +new JJ I-NP +model NN I-NP +of IN B-PP +distributed VBN B-NP +processing NN I-NP +. . O +'' '' O + +In IN B-PP +today NN B-NP +'s POS B-NP +computer NN I-NP +networks NNS I-NP +, , O +some DT B-NP +machines NNS I-NP +often RB B-ADVP +sit VBP B-VP +idle JJ B-ADJP +while IN B-SBAR +others NNS B-NP +are VBP B-VP +overtaxed JJ I-VP +. . O + +With IN B-PP +the DT B-NP +Hewlett-Packard NNP I-NP +program NN I-NP +, , O +he PRP B-NP +said VBD B-VP +, , O +`` `` O +You PRP B-NP +get VBP B-VP +more JJR B-NP +bang NN I-NP +for IN B-PP +the DT B-NP +buck NN I-NP +you PRP B-NP +'ve VBP B-VP +spent VBD I-VP +on IN B-PP +computers NNS B-NP +. . O +'' '' O + +The DT B-NP +program NN I-NP +, , O +which WDT B-NP +will MD B-VP +be VB I-VP +shipped VBN I-VP +in IN B-PP +January NNP B-NP +1990 CD I-NP +, , O +runs VBZ B-VP +on IN B-PP +the DT B-NP +Unix NNP I-NP +operating VBG I-NP +system NN I-NP +. . O + +Hewlett-Packard NNP B-NP +will MD B-VP +charge VB I-VP +$ $ B-NP +5,000 CD I-NP +for IN B-PP +a DT B-NP +license NN I-NP +covering VBG B-VP +10 CD B-NP +users NNS I-NP +. . O + +The DT B-NP +program NN I-NP +now RB B-ADVP +works VBZ B-VP +on IN B-PP +all DT B-NP +Hewlett-Packard NNP I-NP +and CC I-NP +Apollo NNP I-NP +workstations NNS I-NP +and CC B-PP +on IN B-PP +computers NNS B-NP +made VBN B-VP +by IN B-PP +Multiflow NNP B-NP +Computer NNP I-NP +Inc. NNP I-NP +of IN B-PP +Branford NNP B-NP +, , O +Conn NNP B-NP +. . O + +Hewlett-Packard NNP B-NP +said VBD B-VP +it PRP B-NP +will MD B-VP +sell VB I-VP +versions NNS B-NP +later RB B-NP +next JJ I-NP +year NN I-NP +that WDT B-NP +run VBP B-VP +on IN B-PP +Sun NNP B-NP +Microsystems NNP I-NP +Inc. NNP I-NP +and CC O +Digital NNP B-NP +Equipment NNP I-NP +Corp. NNP I-NP +machines NNS I-NP +. . O + +The DT B-NP +Task NNP I-NP +Broker NNP I-NP +differs VBZ B-VP +from IN B-PP +other JJ B-NP +programs NNS I-NP +that WDT B-NP +spread VBP B-VP +computing VBG B-NP +tasks NNS I-NP +around IN B-PP +a DT B-NP +network NN I-NP +. . O + +A DT B-NP +previously RB I-NP +available JJ I-NP +program NN I-NP +called VBN B-VP +Network NNP B-NP +Computing VBG I-NP +System NNP I-NP +, , O +developed VBN B-VP +by IN B-PP +Hewlett-Packard NNP B-NP +'s POS B-NP +Apollo NNP I-NP +division NN I-NP +, , O +for IN B-PP +instance NN B-NP +, , O +takes VBZ B-VP +a DT B-NP +task NN I-NP +and CC O +splits NNS B-VP +it PRP B-NP +up IN B-PRT +into IN B-PP +parts NNS B-NP +, , O +divvying VBG B-VP +up IN B-PRT +those DT B-NP +parts NNS I-NP +to TO B-PP +several JJ B-NP +computers NNS I-NP +in IN B-PP +a DT B-NP +network NN I-NP +for IN B-PP +simultaneous JJ B-NP +processing NN I-NP +. . O + +But CC O +programs NNS B-NP +in IN B-PP +individual JJ B-NP +computers NNS I-NP +must MD B-VP +be VB I-VP +revised VBN I-VP +in IN B-SBAR +order NN O +to TO B-VP +work VB I-VP +with IN B-PP +that DT B-NP +system NN I-NP +. . O + +Applications NNS B-NP +wo MD B-VP +n't RB I-VP +have VB I-VP +to TO I-VP +be VB I-VP +rewritten VBN I-VP +to TO B-VP +work VB I-VP +with IN B-PP +Task NNP B-NP +Broker NNP I-NP +, , O +Hewlett-Packard NNP B-NP +said VBD B-VP +, , O +and CC O +the DT B-NP +user NN I-NP +of IN B-PP +a DT B-NP +computer NN I-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +tell VB I-VP +that IN B-SBAR +another DT B-NP +machine NN I-NP +is VBZ B-VP +doing VBG I-VP +the DT B-NP +work NN I-NP +. . O + +The DT B-NP +Task NNP I-NP +Broker NNP I-NP +`` `` O +turns VBZ B-VP +that DT B-NP +network NN I-NP +into IN B-PP +-- : O +as RB B-ADJP +far RB I-ADJP +as IN B-SBAR +the DT B-NP +user NN I-NP +is VBZ B-VP +concerned VBN I-VP +-- : O +one CD B-NP +giant NN I-NP +computer NN I-NP +, , O +'' '' O +said VBD B-VP +Bill NNP B-NP +Kay NNP I-NP +, , O +general JJ B-NP +manager NN I-NP +of IN B-PP +Hewlett-Packard NNP B-NP +'s POS B-NP +workstation NN I-NP +group NN I-NP +. . O + +Price NN B-NP +wars NNS I-NP +between IN B-PP +the DT B-NP +fast-food NN I-NP +giants NNS I-NP +are VBP B-VP +starting VBG I-VP +to TO I-VP +clobber VB I-VP +the DT B-NP +fast-food NN I-NP +little JJ I-NP +guys NNS I-NP +: : O +the DT B-NP +franchisees NNS I-NP +. . O + +`` `` O +When WRB B-ADVP +elephants NNS B-NP +start VBP B-VP +fighting VBG I-VP +, , O +ants NNS B-NP +get VBP B-VP +killed VBN I-VP +, , O +'' '' O +says VBZ B-VP +Murray NNP B-NP +Riese NNP I-NP +, , O +co-owner NN B-NP +of IN B-PP +National NNP B-NP +Restaurants NNP I-NP +, , O +a DT B-NP +New NNP I-NP +York NNP I-NP +franchisee NN I-NP +for IN B-PP +Pizza NNP B-NP +Hut NNP I-NP +, , O +Roy NNP B-NP +Rogers NNP I-NP +and CC O +other JJ B-NP +chains NNS I-NP +. . O + +As IN B-SBAR +hamburger NN B-NP +and CC I-NP +pizza NN I-NP +outlets NNS I-NP +saturate VB B-VP +one CD B-NP +area NN I-NP +after IN B-PP +another DT B-NP +, , O +franchisers NNS B-NP +are VBP B-VP +struggling VBG I-VP +desperately RB B-ADVP +for IN B-PP +market NN B-NP +share NN I-NP +, , O +slashing VBG B-VP +prices NNS B-NP +and CC O +stepping VBG B-VP +up IN B-PRT +costly JJ B-NP +promotions NNS I-NP +. . O + +The DT B-NP +fight NN I-NP +is VBZ B-VP +putting VBG I-VP +a DT B-NP +tight JJ I-NP +squeeze NN I-NP +on IN B-PP +profits NNS B-NP +of IN B-PP +many JJ B-NP +, , O +threatening VBG B-VP +to TO I-VP +drive VB I-VP +the DT B-NP +smallest JJS I-NP +ones NNS I-NP +out IN B-PP +of IN B-PP +business NN B-NP +and CC O +straining VBG B-VP +relations NNS B-NP +between IN B-PP +the DT B-NP +national JJ I-NP +fast-food NN I-NP +chains NNS I-NP +and CC O +their PRP$ B-NP +franchisees NNS I-NP +. . O + +The DT B-NP +chains NNS I-NP +`` `` O +used VBN B-VP +to TO I-VP +offer VB I-VP +discounts NNS B-NP +during IN B-PP +winter NN B-NP +when WRB B-ADVP +business NN B-NP +was VBD B-VP +slow JJ B-ADJP +, , O +but CC O +in IN B-PP +the DT B-NP +last JJ I-NP +year NN I-NP +or CC I-NP +so RB I-NP +, , O +discounting NN B-NP +has VBZ B-VP +become VBN I-VP +a DT B-NP +12-month JJ I-NP +thing NN I-NP +, , O +'' '' O +says VBZ B-VP +Donald NNP B-NP +Harty NNP I-NP +, , O +president NN B-NP +of IN B-PP +Charisma NNP B-NP +Group NNP I-NP +Inc. NNP I-NP +, , O +a DT B-NP +New NNP I-NP +York NNP I-NP +franchisee NN I-NP +of IN B-PP +Grand NNP B-NP +Metropolitan NNP I-NP +PLC NNP I-NP +'s POS B-NP +Burger NNP I-NP +King NNP I-NP +chain NN I-NP +. . O + +Though IN O +Charisma NNP B-NP +'s POS B-NP +sales NNS I-NP +are VBP B-VP +up IN B-ADVP +slightly RB I-ADVP +this DT B-NP +year NN I-NP +, , O +Mr. NNP B-NP +Harty NNP I-NP +says VBZ B-VP +profits NNS B-NP +will MD B-VP +be VB I-VP +flat JJ B-ADJP +or CC I-ADJP +lower JJR I-ADJP +. . O + +And CC O +Bill NNP B-NP +Konopnicki NNP I-NP +, , O +a DT B-NP +Safford NNP I-NP +, , I-NP +Ariz. NNP I-NP +, , I-NP +licensee NN I-NP +of IN B-PP +McDonald NNP B-NP +'s POS B-NP +Corp. NNP I-NP +who WP B-NP +is VBZ B-VP +chairman NN B-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +National NNP I-NP +Operators NNP I-NP +Advisory NNP I-NP +Board NNP I-NP +, , O +says VBZ B-VP +some DT B-NP +fast-food NN I-NP +outlets NNS I-NP +`` `` O +could MD B-VP +be VB I-VP +in IN B-PP +serious JJ B-NP +trouble NN I-NP +, , O +based VBN B-PP +on IN B-PP +the DT B-NP +amount NN I-NP +of IN B-PP +discounting NN B-NP +that WDT B-NP +seems VBZ B-VP +to TO I-VP +be VB I-VP +going VBG I-VP +on IN B-PRT +. . O +'' '' O + +Until IN B-PP +recently RB B-NP +, , O +the DT B-NP +huge JJ I-NP +fast-food NN I-NP +industry NN I-NP +, , O +with IN B-PP +sales NNS B-NP +of IN B-PP +about RB B-NP +$ $ I-NP +60.1 CD I-NP +billion CD I-NP +last JJ B-NP +year NN I-NP +, , O +kept VBD B-VP +price-skirmishing JJ B-NP +to TO B-PP +a DT B-NP +minimum NN I-NP +. . O + +But CC O +early JJ B-NP +this DT I-NP +year NN I-NP +, , O +PepsiCo NNP B-NP +Inc. NNP I-NP +'s POS B-NP +Taco NNP I-NP +Bell NNP I-NP +unit NN I-NP +and CC O +Wendy NNP B-NP +'s POS B-NP +International NNP I-NP +Inc. NNP I-NP +slashed VBD B-VP +prices NNS B-NP +and CC O +stepped VBD B-VP +up IN B-PRT +promotions NNS B-NP +, , O +says VBZ B-VP +John NNP B-NP +Rohs NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +for IN B-PP +Wertheim NNP B-NP +Schroder NNP I-NP +& CC I-NP +Co NNP I-NP +. . O + +That DT B-NP +brought VBN B-VP +a DT B-NP +chain NN I-NP +reaction NN I-NP +in IN B-PP +the DT B-NP +industry NN I-NP +. . O + +The DT B-NP +situation NN I-NP +was VBD B-VP +further RB I-VP +aggravated VBN I-VP +early JJ B-NP +this DT I-NP +month NN I-NP +, , O +when WRB B-ADVP +McDonald NNP B-NP +'s POS B-NP +set VBN B-VP +plans NNS B-NP +to TO B-VP +heat VB I-VP +up IN B-PRT +the DT B-NP +discounting NN I-NP +by IN B-PP +offering NN B-VP +coupons NNS B-NP +. . O + +It PRP B-NP +also RB B-ADVP +decided VBD B-VP +to TO I-VP +go VB I-VP +national JJ B-ADJP +with IN B-PP +pizza NN B-NP +, , O +which WDT B-NP +it PRP B-NP +has VBZ B-VP +been VBN I-VP +test-marketing VBG I-VP +. . O + +Now RB B-INTJ +, , O +two-for-one JJ B-NP +deals NNS I-NP +on IN B-PP +pizza NN B-NP +are VBP B-VP +common JJ B-ADJP +; : O +so RB O +are VBP B-VP +99-cent JJ B-NP +specials NNS I-NP +on IN B-PP +sandwiches NNS B-NP +normally RB B-VP +priced VBN I-VP +twice RB B-ADVP +as IN I-ADVP +high NN I-ADVP +. . O + +The DT B-NP +discounting NN I-NP +, , O +say VBP B-VP +fast-food NN B-NP +operators NNS I-NP +, , O +occurs VBZ B-VP +on IN B-PP +a DT B-NP +scale NN I-NP +and CC B-PP +with IN B-PP +a DT B-NP +frequency NN I-NP +they PRP B-NP +have VBP B-VP +n't RB I-VP +seen VBN I-VP +before RB B-ADVP +. . O + +The DT B-NP +result NN I-NP +is VBZ B-VP +that IN B-SBAR +some DT B-NP +franchisees NNS I-NP +are VBP B-VP +running VBG I-VP +hard JJ B-ADVP +just RB B-ADVP +to TO B-VP +stay VB I-VP +even RB B-ADVP +, , O +laying VBG B-VP +off IN B-PRT +middle NN B-NP +managers NNS I-NP +and CC O +working VBG B-VP +harder JJR B-ADVP +to TO B-VP +make VB I-VP +less JJR B-NP +. . O + +Joe NNP B-NP +Mack NNP I-NP +, , O +a DT B-NP +district NN I-NP +manager NN I-NP +for IN B-PP +Cormack NNP B-NP +Enterprises NNPS I-NP +Inc. NNP I-NP +, , O +a DT B-NP +Burger NNP I-NP +King NNP I-NP +operator NN I-NP +in IN B-PP +Omaha NNP B-NP +, , O +Neb. NNP B-NP +, , O +says VBZ B-VP +discounting NN B-NP +is VBZ B-VP +so RB B-ADJP +prevalent JJ I-ADJP +that IN B-SBAR +`` `` O +we PRP B-NP +have VBP B-VP +to TO I-VP +serve VB I-VP +15 CD B-NP +% NN I-NP +to TO I-NP +20 CD I-NP +% NN I-NP +more JJR B-NP +customers NNS I-NP +'' '' O +to TO B-VP +keep VB I-VP +sales NNS B-NP +level VB B-ADJP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +almost RB B-ADVP +as IN B-SBAR +if IN I-SBAR +you PRP B-NP +'re VBP B-VP +doing VBG I-VP +extra JJ B-NP +work NN I-NP +to TO B-VP +give VB I-VP +away RB B-PRT +the DT B-NP +food NN I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +Alan NNP B-NP +D'Agosto NNP I-NP +, , O +president NN B-NP +of IN B-PP +Panda NNP B-NP +'s POS B-NP +Inc. NNP I-NP +, , O +an DT B-NP +operator NN I-NP +of IN B-PP +Arby NNP B-NP +'s POS B-NP +restaurants NNS I-NP +in IN B-PP +Omaha NNP B-NP +, , O +says VBZ B-VP +: : O +`` `` O +All DT B-NP +we PRP B-NP +'re VBP B-VP +doing VBG I-VP +is VBZ B-VP +keeping VBG B-VP +the DT B-NP +customers NNS I-NP +coming VBG B-VP +, , O +but CC O +we PRP B-NP +are VBP B-VP +n't RB I-VP +increasing VBG I-VP +sales NNS B-NP +. . O +'' '' O + +With IN B-SBAR +fast-food NN B-NP +outlets NNS I-NP +on IN B-PP +every DT B-NP +corner NN I-NP +, , O +he PRP B-NP +, , O +like IN B-PP +many JJ B-NP +, , O +does VBZ B-VP +n't RB I-VP +think VB I-VP +he PRP B-NP +has VBZ B-VP +a DT B-NP +choice NN I-NP +in IN B-PP +the DT B-NP +price NN I-NP +war NN I-NP +: : O +`` `` O +Our PRP$ B-NP +customers NNS I-NP +say VBP B-VP +that IN B-SBAR +they PRP B-NP +wo MD B-VP +n't RB I-VP +go VB I-VP +into IN B-PP +a DT B-NP +fast-food NN I-NP +store NN I-NP +unless IN B-SBAR +they PRP B-NP +get VBP B-VP +a DT B-NP +coupon NN I-NP +. . O +'' '' O + +If IN B-SBAR +the DT B-NP +battle NN I-NP +continues VBZ B-VP +much JJ B-ADVP +longer RB I-ADVP +, , O +many JJ B-NP +fast-food NN I-NP +businesses NNS I-NP +will MD B-VP +close VB I-VP +or CC I-VP +merge VB I-VP +, , O +predicts VBZ B-VP +Vincent NNP B-NP +Morrissey NNP I-NP +, , O +who WP B-NP +owns VBZ B-VP +a DT B-NP +string NN I-NP +of IN B-PP +Kentucky NNP B-NP +Fried NNP I-NP +Chicken NNP I-NP +stores NNS I-NP +in IN B-PP +the DT B-NP +Midwest NNP I-NP +. . O + +`` `` O +The DT B-NP +industry NN I-NP +is VBZ B-VP +overbuilt JJ B-ADJP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +`` `` O +Fast-food NN B-NP +franchisers NNS I-NP +have VBP B-VP +managed VBN I-VP +to TO I-VP +squeeze VB I-VP +in IN B-ADVP +stores NNS B-NP +into IN B-PP +every DT B-NP +corner NN I-NP +available JJ B-ADJP +. . O +'' '' O + +The DT B-NP +National NNP I-NP +Restaurant NNP I-NP +Association NNP I-NP +says VBZ B-VP +quick-service JJ B-NP +restaurant NN I-NP +units NNS I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +rose VBD B-VP +14 CD B-NP +% NN I-NP +to TO B-PP +131,146 CD B-NP +between IN B-PP +1983 CD B-NP +and CC O +1987 CD B-NP +, , O +the DT B-NP +last JJ I-NP +year NN I-NP +for IN B-PP +which WDT B-NP +figures NNS B-NP +are VBP B-VP +available JJ B-ADJP +. . O + +With IN B-SBAR +the DT B-NP +market NN I-NP +so RB B-ADJP +crowded VBD I-ADJP +, , O +says VBZ B-VP +a DT B-NP +spokesman NN I-NP +for IN B-PP +Wendy NNP B-NP +'s POS I-NP +in IN B-PP +Columbus NNP B-NP +, , O +Ohio NNP B-NP +, , O +`` `` O +If IN B-SBAR +you PRP B-NP +'re VBP B-VP +doing VBG I-VP +well RB B-ADVP +, , O +you PRP B-NP +'re VBP B-VP +doing VBG I-VP +well RB B-ADVP +at IN B-PP +someone NN B-NP +else RB B-ADJP +'s POS B-NP +expense NN I-NP +. . O +'' '' O + +Simply RB B-VP +put VB I-VP +, , O +there EX B-NP +is VBZ B-VP +n't RB O +enough JJ B-NP +business NN I-NP +for IN B-SBAR +every DT B-NP +store NN I-NP +to TO B-VP +grow VB I-VP +. . O + +According VBG B-PP +to TO B-PP +Mr. NNP B-NP +Rohs NNP I-NP +, , O +inflation-adjusted JJ B-NP +, , I-NP +same-store JJ I-NP +sales NNS I-NP +at IN B-PP +company-owned JJ B-NP +Wendy NNP I-NP +'s POS B-NP +units NNS I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +have VBP B-VP +trailed VBN I-VP +year-earlier JJ B-NP +levels NNS I-NP +throughout IN B-PP +1989 CD B-NP +, , O +except IN B-PP +for IN B-PP +August NNP B-NP +. . O + +`` `` O +McDonald NNP B-NP +'s POS B-NP +has VBZ B-VP +also RB I-VP +been VBN I-VP +running VBG I-VP +negative JJ B-ADJP +all DT B-NP +year NN I-NP +, , O +'' '' O +the DT B-NP +analyst NN I-NP +says NNS B-VP +. . O + +Spokesmen NNS B-NP +for IN B-PP +Wendy NNP B-NP +'s POS B-NP +and CC O +McDonald NNP B-NP +'s POS B-NP +criticized VBN B-VP +Mr. NNP B-NP +Rohs NNP I-NP +'s POS B-NP +calculations NNS I-NP +. . O + +Jack NNP B-NP +Greenberg NNP I-NP +, , O +executive JJ B-NP +vice NN I-NP +president NN I-NP +and CC O +chief JJ B-NP +financial JJ I-NP +officer NN I-NP +of IN B-PP +McDonald NNP B-NP +'s POS B-NP +, , O +says VBZ B-VP +the DT B-NP +company NN I-NP +does VBZ B-VP +n't RB I-VP +compute VB I-VP +, , I-VP +much RB I-VP +less JJR I-VP +disclose VB I-VP +, , O +inflation-adjusted JJ B-NP +, , I-NP +same-store JJ I-NP +sales NNS I-NP +. . O + +He PRP B-NP +adds VBZ B-VP +that IN B-SBAR +short-term JJ B-NP +comparisons NNS I-NP +`` `` O +can MD B-VP +be VB I-VP +very RB B-ADJP +misleading JJ I-ADJP +because IN B-PP +of IN I-PP +differences NNS B-NP +in IN B-PP +timing NN B-NP +of IN B-PP +marketing NN B-NP +programs NNS I-NP +from IN B-PP +year NN B-NP +to TO B-PP +year NN B-NP +. . O +'' '' O + +Profit NN B-NP +margins NNS I-NP +at IN B-PP +company-owned JJ B-NP +McDonald NNP I-NP +'s POS B-NP +outlets NNS I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +`` `` O +are VBP B-VP +holding VBG I-VP +up IN B-PRT +quite RB B-ADVP +nicely RB I-ADVP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Greenberg NNP I-NP +. . O + +Profits NNS B-NP +of IN B-PP +franchisees NNS B-NP +have VBP B-VP +n't RB I-VP +been VBN I-VP +higher JJR B-ADJP +since IN B-PP +the DT B-NP +mid-1970s NNS I-NP +, , O +he PRP B-NP +adds VBZ B-VP +. . O + +But CC O +Mr. NNP B-NP +Greenberg NNP I-NP +'s POS B-NP +sanguine JJ I-NP +outlook NN I-NP +is VBZ B-VP +n't RB I-VP +matched VBN I-VP +by IN B-PP +many JJ B-NP +fast-food NN I-NP +industry NN I-NP +observers NNS I-NP +. . O + +Smaller JJR B-NP +chains NNS I-NP +and CC O +single-store JJ B-NP +operators NNS I-NP +will MD B-VP +be VB I-VP +the DT B-NP +first JJ I-NP +to TO B-VP +fail VB I-VP +, , O +many JJ B-NP +in IN B-PP +the DT B-NP +industry NN I-NP +predict VBP B-VP +. . O + +Big JJ B-NP +franchise NN I-NP +groups NNS I-NP +`` `` O +can MD B-VP +ride VB I-VP +out RP B-ADVP +the IN B-NP +storm NN I-NP +a DT B-NP +lot NN I-NP +longer RB B-ADVP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Harty NNP I-NP +, , O +the DT B-NP +Burger NNP I-NP +King NNP I-NP +operator NN I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +. . O + +The DT B-NP +prolonged VBN I-NP +price NN I-NP +pressures NNS I-NP +are VBP B-VP +driving VBG I-VP +a DT B-NP +wedge NN I-NP +between IN B-PP +some DT B-NP +franchisers NNS I-NP +and CC O +their PRP$ B-NP +franchisees NNS I-NP +. . O + +Mr. NNP B-NP +Morrissey NNP I-NP +, , O +the DT B-NP +Kentucky NNP I-NP +Fried NNP I-NP +Chicken NNP I-NP +franchisee NN I-NP +, , O +notes VBZ B-VP +that IN B-SBAR +most RBS B-NP +franchise NN I-NP +owners NNS I-NP +must MD B-VP +absorb VB I-VP +increases NNS B-NP +in IN B-PP +expenses NNS B-NP +without IN B-PP +any DT B-NP +cut NN I-NP +in IN B-PP +the DT B-NP +royalties NNS I-NP +, , O +or CC O +portion NN B-NP +of IN B-PP +sales NNS B-NP +, , O +that IN B-NP +they PRP B-NP +must MD B-VP +pay VB I-VP +franchisers NNS B-NP +. . O + +Franchisees NNS B-NP +ca MD B-VP +n't RB I-VP +be VB I-VP +forced VBN I-VP +to TO I-VP +go VB I-VP +along IN B-PRT +with IN B-PP +a DT B-NP +franchiser NN I-NP +'s POS B-NP +discounting NN I-NP +. . O + +But CC O +once RB O +a DT B-NP +franchisee NN I-NP +agrees VBZ B-VP +to TO B-PP +a DT B-NP +promotional JJ I-NP +program NN I-NP +, , O +the DT B-NP +franchiser NN I-NP +can MD B-VP +demand VB I-VP +full JJ B-NP +participation NN I-NP +to TO B-PP +the DT B-NP +very JJ I-NP +end NN I-NP +, , O +says VBZ B-VP +Lew NNP B-NP +Rudnick NNP I-NP +, , O +a DT B-NP +principal NN I-NP +of IN B-PP +Rudnick NNP B-NP +& CC I-NP +Wolfe NNP I-NP +, , O +a DT B-NP +Chicago NNP I-NP +law NN I-NP +firm NN I-NP +with IN B-PP +franchise NN B-NP +industry NN I-NP +clients NNS I-NP +. . O + +He PRP B-NP +says VBZ B-VP +courts NNS B-NP +have VBP B-VP +held VBN I-VP +that IN B-SBAR +antitrust JJ B-NP +considerations NNS I-NP +are VBP B-VP +outweighed VBN I-VP +in IN B-PP +such JJ B-NP +cases NNS I-NP +by IN B-PP +the DT B-NP +need NN I-NP +to TO B-VP +protect VB I-VP +consumers NNS B-NP +from IN B-PP +deceptive JJ B-NP +marketing NN I-NP +. . O + +In IN B-PP +any DT B-NP +case NN I-NP +, , O +many JJ B-NP +franchisees NNS I-NP +, , O +in IN B-SBAR +order NN O +to TO B-VP +stay VB I-VP +on IN B-PP +good JJ B-NP +terms NNS I-NP +with IN B-PP +franchisers NNS B-NP +, , O +routinely RB B-ADVP +go VB B-VP +along IN B-PRT +with IN B-PP +promotions NNS B-NP +. . O + +Says VBZ B-VP +Mr. NNP B-NP +Riese NNP I-NP +of IN B-PP +National NNP B-NP +Restaurants NNP I-NP +: : O +`` `` O +If IN B-SBAR +you PRP B-NP +resisted VBD B-VP +on IN B-PP +prices NNS B-NP +, , O +maybe RB B-ADVP +you PRP B-NP +would MD B-VP +never RB I-VP +get VB I-VP +that WDT B-NP +telephone NN I-NP +call NN I-NP +about IN B-PP +a DT B-NP +new JJ I-NP +franchise NN I-NP +. . O + +Companies NNS B-NP +listed VBN B-VP +below IN B-PP +reported VBN B-VP +quarterly JJ B-NP +profit NN I-NP +substantially RB B-ADJP +different JJ I-ADJP +from IN B-PP +the DT B-NP +average NN I-NP +of IN B-PP +analysts NNS B-NP +' POS B-NP +estimates NNS I-NP +. . O + +The DT B-NP +companies NNS I-NP +are VBP B-VP +followed VBN I-VP +by IN B-PP +at IN B-NP +least JJS I-NP +three CD I-NP +analysts NNS I-NP +, , O +and CC O +had VBD B-VP +a DT B-NP +minimum JJ I-NP +five-cent JJ I-NP +change NN I-NP +in IN B-PP +actual JJ B-NP +earnings NNS I-NP +per IN B-PP +share NN B-NP +. . O + +Estimated VBN B-NP +and CC I-NP +actual JJ I-NP +results NNS I-NP +involving VBG B-VP +losses NNS B-NP +are VBP B-VP +omitted VBN I-VP +. . O + +The DT B-NP +percent NN I-NP +difference NN I-NP +compares VBZ B-VP +actual JJ B-NP +profit NN I-NP +with IN B-PP +the DT B-NP +30-day JJ I-NP +estimate NN I-NP +where WRB B-ADVP +at IN B-NP +least JJS I-NP +three CD I-NP +analysts NNS I-NP +have VBP B-VP +issues NNS I-VP +forecasts NNS B-NP +in IN B-PP +the DT B-NP +past JJ I-NP +30 CD I-NP +days NNS I-NP +. . O + +Otherwise RB B-ADVP +, , O +actual JJ B-NP +profit NN I-NP +is VBZ B-VP +compared VBN I-VP +with IN B-PP +the DT B-NP +300-day JJ I-NP +estimate NN I-NP +. . O + +Companies NNS B-NP +listed VBN B-VP +below IN B-PP +reported VBN B-VP +quarterly JJ B-NP +profit NN I-NP +substantially RB B-ADJP +different JJ I-ADJP +from IN B-PP +the DT B-NP +average NN I-NP +of IN B-PP +analysts NNS B-NP +' POS B-NP +estimates NNS I-NP +. . O + +The DT B-NP +companies NNS I-NP +are VBP B-VP +followed VBN I-VP +by IN B-PP +at IN B-NP +least JJS I-NP +three CD I-NP +analysts NNS I-NP +, , O +and CC O +had VBD B-VP +a DT B-NP +minimum JJ I-NP +five-cent JJ I-NP +change NN I-NP +in IN B-PP +actual JJ B-NP +earnings NNS I-NP +per IN B-PP +share NN B-NP +. . O + +Estimated VBN B-NP +and CC I-NP +actual JJ I-NP +results NNS I-NP +involving VBG B-VP +losses NNS B-NP +are VBP B-VP +omitted VBN I-VP +. . O + +The DT B-NP +percent NN I-NP +difference NN I-NP +compares VBZ B-VP +actual JJ B-NP +profit NN I-NP +with IN B-PP +the DT B-NP +30-day JJ I-NP +estimate NN I-NP +where WRB B-ADVP +at IN B-NP +least JJS I-NP +three CD I-NP +analysts NNS I-NP +have VBP B-VP +issues NNS I-VP +forecasts NNS B-NP +in IN B-PP +the DT B-NP +past JJ I-NP +30 CD I-NP +days NNS I-NP +. . O + +Otherwise RB B-ADVP +, , O +actual JJ B-NP +profit NN I-NP +is VBZ B-VP +compared VBN I-VP +with IN B-PP +the DT B-NP +300-day JJ I-NP +estimate NN I-NP +. . O + +CalMat NNP B-NP +Co. NNP I-NP +said VBD B-VP +it PRP B-NP +completed VBD B-VP +a DT B-NP +$ $ I-NP +32.8 CD I-NP +million CD I-NP +sale NN I-NP +of IN B-PP +assets NNS B-NP +from IN B-PP +its PRP$ B-NP +Los NNP I-NP +Angeles NNP I-NP +area NN I-NP +real JJ I-NP +estate NN I-NP +portfolio NN I-NP +for IN B-PP +net JJ B-NP +income NN I-NP +of IN B-PP +$ $ B-NP +12 CD I-NP +million CD I-NP +. . O + +CalMat NNP B-NP +said VBD B-VP +the DT B-NP +sale NN I-NP +is VBZ B-VP +part NN B-NP +of IN B-PP +its PRP$ B-NP +previously RB I-NP +announced VBD I-NP +plan NN I-NP +to TO B-VP +sell VB I-VP +much NN B-NP +of IN B-PP +its PRP$ B-NP +real JJ I-NP +estate NN I-NP +holdings NNS I-NP +to TO B-VP +focus VB I-VP +on IN B-PP +its PRP$ B-NP +core NN I-NP +business NN I-NP +of IN B-PP +mining NN B-VP +and CC I-VP +producing VBG I-VP +asphalt NN B-NP +, , I-NP +concrete JJ I-NP +, , I-NP +rock NN I-NP +and CC I-NP +sand NN I-NP +. . O + +And CC O +you PRP B-NP +thought VBD B-VP +the DT B-NP +only JJ I-NP +reason NN I-NP +to TO B-VP +save VB I-VP +your PRP$ B-NP +canceled VBN I-NP +checks NNS I-NP +was VBD B-VP +to TO B-VP +prepare VB I-VP +for IN B-PP +an DT B-NP +IRS NNP I-NP +audit NN I-NP +. . O + +Reggie NNP B-NP +Jackson NNP I-NP +, , O +the DT B-NP +retired VBN I-NP +baseball NN I-NP +star NN I-NP +, , O +has VBZ B-VP +found VBN I-VP +another DT B-NP +use NN I-NP +for IN B-PP +them PRP B-NP +. . O + +Mr. NNP B-NP +Jackson NNP I-NP +, , O +who WP B-NP +won VBD B-VP +the DT B-NP +nickname NN I-NP +`` `` O +Mr. NNP B-NP +October NNP I-NP +'' '' O +for IN B-PP +his PRP$ B-NP +World NNP I-NP +Series NNP I-NP +exploits NNS I-NP +, , O +is VBZ B-VP +selling VBG I-VP +some DT B-NP +of IN B-PP +his PRP$ B-NP +canceled VBN I-NP +checks NNS I-NP +to TO B-PP +autograph VB B-NP +collectors NNS I-NP +through IN B-PP +a DT B-NP +dealer NN I-NP +for IN B-PP +as RB B-NP +much JJ I-NP +as IN I-NP +$ $ I-NP +500 CD I-NP +each DT I-NP +. . O + +Dealers NNS B-NP +say VBP B-VP +the DT B-NP +budding VBG I-NP +trade NN I-NP +in IN B-PP +Mr. NNP B-NP +Jackson NNP I-NP +'s POS B-NP +canceled VBN I-NP +checks NNS I-NP +is VBZ B-VP +unusual JJ B-ADJP +. . O + +`` `` O +I PRP B-NP +do VBP B-VP +n't RB I-VP +know VB I-VP +of IN B-PP +any DT B-NP +living VBG I-NP +ballplayer NN I-NP +that WDT B-NP +'s VBZ B-VP +ever RB I-VP +done VBN I-VP +it PRP B-NP +, , O +'' '' O +says VBZ B-VP +Jack NNP B-NP +Smalling NNP I-NP +, , O +a DT B-NP +dealer NN I-NP +in IN B-PP +Ames NNP B-NP +, , O +Iowa NNP B-NP +, , O +and CC O +a DT B-NP +recognized VBN I-NP +expert NN I-NP +in IN B-PP +the DT B-NP +field NN I-NP +of IN B-PP +baseball NN B-NP +autographs NNS I-NP +. . O + +An DT B-NP +initial JJ I-NP +batch NN I-NP +of IN B-PP +Mr. NNP B-NP +Jackson NNP I-NP +'s POS B-NP +checks NNS I-NP +was VBD B-VP +on IN B-PP +sale NN B-NP +at IN B-PP +a DT B-NP +baseball-card JJ I-NP +show NN I-NP +held VBN B-VP +in IN B-PP +San NNP B-NP +Francisco NNP I-NP +over IN B-PP +Labor NNP B-NP +Day NNP I-NP +weekend NN I-NP +. . O + +Mr. NNP B-NP +Jackson NNP I-NP +showed VBD B-VP +up IN B-PRT +at IN B-PP +the DT B-NP +affair NN I-NP +to TO B-VP +sign VB I-VP +autographs NNS B-NP +for IN B-PP +a DT B-NP +fee NN I-NP +as IN B-ADVP +well RB I-ADVP +. . O + +`` `` O +For IN B-PP +someone NN B-NP +who WP B-NP +has VBZ B-VP +everything NN B-NP +else RB B-ADJP +-- : O +Reggie NNP B-NP +'s POS B-NP +jersey NN I-NP +, , I-NP +cap NN I-NP +and CC I-NP +cards NNS I-NP +-- : O +his PRP$ B-NP +checks NNS I-NP +might MD B-VP +be VB I-VP +a DT B-NP +nice JJ I-NP +addition NN I-NP +, , O +'' '' O +says VBZ B-VP +William NNP B-NP +Vizas NNP I-NP +, , O +owner NN B-NP +of IN B-PP +Bill NNP B-NP +'s POS B-NP +Sports NNPS I-NP +Collectibles NNS I-NP +in IN B-PP +Denver NNP B-NP +, , O +who WP B-NP +examined VBD B-VP +the DT B-NP +checks NNS I-NP +at IN B-PP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +card NN I-NP +show NN I-NP +. . O + +For IN B-PP +years NNS B-NP +, , O +the DT B-NP +canceled VBN I-NP +checks NNS I-NP +of IN B-PP +a DT B-NP +small JJ I-NP +number NN I-NP +of IN B-PP +well-known JJ B-NP +baseball NN I-NP +players NNS I-NP +have VBP B-VP +been VBN I-VP +bought VBN I-VP +and CC I-VP +sold VBN I-VP +. . O + +But CC O +these DT B-NP +players NNS I-NP +were VBD B-VP +dead JJ B-ADJP +. . O + +`` `` O +Maybe RB B-ADVP +three CD B-NP +years NNS I-NP +ago RB B-ADVP +, , O +there EX B-NP +were VBD B-VP +a DT B-NP +lot NN I-NP +of IN B-PP +-LCB- ( O +Ty NNP O +-RCB- ) O +Cobbs NNS B-NP +in IN B-PP +the DT B-NP +hobby NN I-NP +, , O +and CC O +awhile RB B-ADVP +back RB I-ADVP +there EX B-NP +were VBD B-VP +Babe NNP B-NP +Ruth NNP I-NP +checks NNS I-NP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Smalling NNP I-NP +. . O + +However RB B-ADVP +, , O +the DT B-NP +thought NN I-NP +of IN B-PP +a DT B-NP +living VBG I-NP +player NN I-NP +selling VBG B-VP +his PRP$ B-NP +checks NNS I-NP +rubs VBZ B-VP +some DT B-NP +people NNS I-NP +the DT B-NP +wrong JJ I-NP +way NN I-NP +. . O + +`` `` O +Maybe RB B-ADVP +I PRP B-NP +'m VBP B-VP +a DT B-NP +little JJ I-NP +stuffy JJ B-ADJP +, , O +but CC O +I PRP B-NP +would MD B-VP +n't RB I-VP +sell VB I-VP +them PRP B-NP +, , O +'' '' O +sniffs VBZ B-VP +Bob NNP B-NP +Machon NNP I-NP +, , O +owner NN B-NP +of IN B-PP +Papa NNP B-NP +'s POS B-NP +Sports NNP I-NP +Cards NNP I-NP +in IN B-PP +Menlo NNP B-NP +Park NNP I-NP +, , O +Calif NNP B-NP +. . O + +`` `` O +Who WP B-NP +knows VBZ B-VP +how WRB B-NP +much JJ I-NP +they PRP B-NP +'ll MD B-VP +be VB I-VP +worth JJ B-ADJP +100 CD B-NP +years NNS I-NP +from IN B-PP +now RB B-NP +? . O +'' '' O + +And CC O +Mr. NNP B-NP +Smalling NNP I-NP +does VBZ B-VP +n't RB I-VP +believe VB I-VP +they PRP B-NP +'re VBP B-VP +worth JJ B-ADJP +all DT B-NP +that NN I-NP +much JJ I-NP +now RB B-ADVP +. . O + +`` `` O +I PRP B-NP +do VBP B-VP +n't RB I-VP +think VB I-VP +the DT B-NP +checks NNS I-NP +are VBP B-VP +worth JJ B-ADJP +$ $ B-NP +15 CD I-NP +apiece RB B-ADVP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +Why WRB B-ADVP +Mr. NNP B-NP +Jackson NNP I-NP +, , O +who WP B-NP +could MD B-VP +n't RB I-VP +be VB I-VP +reached VBN I-VP +for IN B-PP +comment NN B-NP +, , O +has VBZ B-VP +made VBN I-VP +some DT B-NP +of IN B-PP +his PRP$ B-NP +checks NNS I-NP +available JJ B-ADJP +for IN B-PP +sale NN B-NP +is VBZ B-VP +n't RB O +clear JJ B-ADJP +. . O + +He PRP B-NP +probably RB B-ADVP +has VBZ B-VP +n't RB I-VP +done VBN I-VP +it PRP B-NP +for IN B-PP +the DT B-NP +cash NN I-NP +. . O + +`` `` O +I PRP B-NP +would MD B-VP +say VB I-VP +he PRP B-NP +'s VBZ B-VP +definitely RB B-ADVP +not RB O +in IN B-PP +need NN B-NP +of IN B-PP +money NN B-NP +, , O +'' '' O +says VBZ B-VP +Matt NNP B-NP +Merola NNP I-NP +, , O +an DT B-NP +agent NN I-NP +of IN B-PP +Mr. NNP B-NP +Jackson NNP I-NP +'s POS I-NP +based VBN B-VP +in IN B-PP +New NNP B-NP +York NNP I-NP +. . O + +`` `` O +He PRP B-NP +has VBZ B-VP +good JJ B-NP +investments NNS I-NP +. . O +'' '' O + +And CC O +Mr. NNP B-NP +Jackson NNP I-NP +probably RB B-ADVP +has VBZ B-VP +opened VBN I-VP +new JJ B-NP +checking NN I-NP +accounts NNS I-NP +, , O +too RB B-ADVP +. . O + +Or CC O +at IN B-ADVP +least JJS I-ADVP +he PRP B-NP +should MD B-VP +. . O + +`` `` O +I PRP B-NP +assume VBP B-VP +those DT B-NP +accounts NNS I-NP +are VBP B-VP +closed VBN B-ADJP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Smalling NNP I-NP +, , O +referring VBG B-VP +to TO B-PP +the DT B-NP +accounts NNS I-NP +of IN B-PP +the DT B-NP +canceled VBN I-NP +checks NNS I-NP +. . O + +`` `` O +I PRP B-NP +do VBP B-VP +n't RB I-VP +think VB I-VP +he PRP B-NP +'d MD B-VP +want VB I-VP +to TO I-VP +give VB I-VP +out IN B-PRT +his PRP$ B-NP +current JJ I-NP +account NN I-NP +numbers NNS I-NP +. . O + +USX NNP B-NP +Corp. NNP I-NP +and CC O +its PRP$ B-NP +Japanese JJ I-NP +partner NN I-NP +, , O +Kobe NNP B-NP +Steel NNP I-NP +Ltd. NNP I-NP +, , O +agreed VBD B-VP +to TO I-VP +form VB I-VP +a DT B-NP +joint JJ I-NP +venture NN I-NP +to TO B-VP +build VB I-VP +a DT B-NP +new JJ I-NP +plant NN I-NP +to TO B-VP +produce VB I-VP +hot-dipped JJ B-NP +galvanized JJ I-NP +sheet NN I-NP +products NNS I-NP +, , O +mainly RB B-ADVP +for IN B-PP +the DT B-NP +automotive JJ I-NP +market NN I-NP +. . O + +Terms NNS B-NP +were VBD B-VP +n't RB I-VP +disclosed VBN I-VP +for IN B-PP +the DT B-NP +plant NN I-NP +, , O +which WDT B-NP +will MD B-VP +have VB I-VP +annual JJ B-NP +capacity NN I-NP +of IN B-PP +600,000 CD B-NP +tons NNS I-NP +. . O + +The DT B-NP +move NN I-NP +by IN B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +largest JJS I-NP +steelmaker NN I-NP +follows VBZ B-VP +a DT B-NP +string NN I-NP +of IN B-PP +earlier JJR B-NP +announcements NNS I-NP +by IN B-PP +other JJ B-NP +major JJ I-NP +steel NN I-NP +companies NNS I-NP +. . O + +Bethlehem NNP B-NP +Steel NNP I-NP +Corp. NNP I-NP +, , O +LTV NNP B-NP +Corp. NNP I-NP +and CC O +Armco NNP B-NP +Inc. NNP I-NP +all DT O +have NN B-VP +plans NNS B-NP +to TO B-VP +build VB I-VP +additional JJ B-NP +lines NNS I-NP +for IN B-PP +such JJ B-NP +coated VBN I-NP +corrosion-resistant JJ I-NP +steel NN I-NP +. . O + +The DT B-NP +surge NN I-NP +in IN B-PP +production NN B-NP +, , O +analysts NNS B-NP +say VBP B-VP +, , O +raises VBZ B-VP +questions NNS B-NP +about IN B-PP +capacity NN B-NP +outpacing VBG B-VP +demand NN B-NP +. . O + +They PRP B-NP +note VBP B-VP +that IN B-SBAR +most RBS B-NP +of IN B-PP +the DT B-NP +new JJ I-NP +plants NNS I-NP +will MD B-VP +come VB I-VP +on IN B-PP +line NN B-NP +in IN B-PP +1992 CD B-NP +, , O +when WRB B-ADVP +the DT B-NP +current JJ I-NP +import NN I-NP +trade NN I-NP +restraint NN I-NP +program NN I-NP +ends NNS B-VP +, , O +which WDT B-NP +could MD B-VP +result VB I-VP +in IN B-PP +more JJR B-NP +imports NNS I-NP +. . O + +`` `` O +There EX B-NP +'s VBZ B-VP +too RB B-NP +much JJ I-NP +capacity NN I-NP +, , O +'' '' O +contended VBD B-VP +Charles NNP B-NP +Bradford NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +with IN B-PP +Merrill NNP B-NP +Lynch NNP I-NP +Capital NNP I-NP +Markets NNPS I-NP +. . O + +`` `` O +I PRP B-NP +do VBP B-VP +n't RB I-VP +think VB I-VP +there EX B-NP +'s VBZ B-VP +anyone NN B-NP +not RB B-VP +building VBG I-VP +one CD B-NP +. . O +'' '' O + +He PRP B-NP +does VBZ B-VP +add VB I-VP +, , O +however RB B-ADVP +, , O +that IN B-SBAR +transplanted VBN B-NP +Japanese JJ I-NP +car NN I-NP +makers NNS I-NP +are VBP B-VP +boosting VBG I-VP +the DT B-NP +levels NNS I-NP +of IN B-PP +U.S.-made JJ B-NP +steel NN I-NP +in IN B-PP +their PRP$ B-NP +autos NNS I-NP +, , O +instead RB B-PP +of IN I-PP +relying VBG B-VP +heavily RB B-ADVP +on IN B-PP +imported VBN B-NP +steel NN I-NP +. . O + +That DT B-NP +trend NN I-NP +could MD B-VP +increase VB I-VP +demand NN B-NP +for IN B-PP +hot-dipped JJ B-NP +galvanized JJ I-NP +sheet NN I-NP +. . O + +The DT B-NP +hot-dipped JJ I-NP +galvanized JJ I-NP +segment NN I-NP +is VBZ B-VP +one CD B-NP +of IN B-PP +the DT B-NP +fastest-growing JJ I-NP +and CC I-NP +most RBS I-NP +profitable JJ I-NP +segments NNS I-NP +of IN B-PP +the DT B-NP +steel NN I-NP +market NN I-NP +, , O +coveted VBN B-VP +by IN B-PP +all DT B-NP +major JJ I-NP +integrated VBN I-NP +steelmakers NNS I-NP +wanting VBG B-VP +to TO I-VP +maintain VB I-VP +an DT B-NP +edge NN I-NP +over IN B-PP +smaller JJR B-NP +minimills NNS I-NP +and CC O +reconstructed JJ B-NP +mills NNS I-NP +-- : O +those DT B-NP +spun VBN B-VP +off IN B-PRT +to TO B-PP +employees NNS B-NP +. . O + +Indeed RB B-ADVP +, , O +USX NNP B-NP +said VBD B-VP +it PRP B-NP +expects VBZ B-VP +the DT B-NP +market NN I-NP +for IN B-PP +coated VBN B-NP +sheet NN I-NP +steel NN I-NP +to TO B-VP +reach VB I-VP +12 CD B-NP +million CD I-NP +tons NNS I-NP +annually RB B-ADVP +by IN B-PP +1992 CD B-NP +, , O +compared VBN B-PP +with IN B-PP +10.2 CD B-NP +million CD I-NP +tons NNS I-NP +shipped VBN B-VP +in IN B-PP +1988 CD B-NP +. . O + +For IN B-PP +the DT B-NP +first JJ I-NP +eight CD I-NP +months NNS I-NP +of IN B-PP +1989 CD B-NP +, , O +analysts NNS B-NP +say VBP B-VP +shipments NNS B-NP +of IN B-PP +hot-dipped JJ B-NP +galvanized JJ I-NP +steel NN I-NP +increased VBN B-VP +about IN B-NP +8 CD I-NP +% NN I-NP +from IN B-PP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +, , O +while IN B-SBAR +overall JJ B-NP +steel NN I-NP +shipments NNS I-NP +were VBD B-VP +up IN B-ADVP +only RB B-NP +2.4 CD I-NP +% NN I-NP +. . O + +USX NNP B-NP +and CC O +Kobe NNP B-NP +Steel NNP I-NP +hope NN B-VP +to TO I-VP +reach VB I-VP +a DT B-NP +definitive JJ I-NP +agreement NN I-NP +establishing VBG B-VP +the DT B-NP +50-50 JJ I-NP +partnership NN I-NP +by IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +year NN I-NP +, , O +with IN B-PP +construction NN B-NP +tentatively RB B-VP +slated VBD I-VP +for IN B-PP +the DT B-NP +spring NN I-NP +of IN B-PP +1990 CD B-NP +and CC O +production NN B-NP +by IN B-PP +1992 CD B-NP +. . O + +USX NNP B-NP +already RB B-ADVP +has VBZ B-VP +six CD B-NP +lines NNS I-NP +in IN B-PP +existing VBG B-NP +plants NNS I-NP +producing VBG B-VP +hot-dipped JJ B-NP +galvanized JJ I-NP +steel NN I-NP +, , O +but CC O +this DT B-NP +marks VBZ B-VP +the DT B-NP +first JJ I-NP +so-called JJ I-NP +greenfield NN I-NP +plant NN I-NP +for IN B-PP +such JJ B-NP +production NN I-NP +. . O + +Moreover RB B-ADVP +, , O +it PRP B-NP +will MD B-VP +boost VB I-VP +by IN B-PP +50 CD B-NP +% NN I-NP +USX NNP B-NP +'s POS B-NP +current JJ I-NP +hot-dipped JJ I-NP +capacity NN I-NP +of IN B-PP +1,275,000 CD B-NP +tons NNS I-NP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +it PRP B-NP +does VBZ B-VP +n't RB I-VP +expect VB I-VP +the DT B-NP +new JJ I-NP +line NN I-NP +'s POS B-NP +capacity NN I-NP +to TO B-VP +adversely RB I-VP +affect VB I-VP +the DT B-NP +company NN I-NP +'s POS B-NP +existing VBG I-NP +hot-dipped JJ I-NP +galvanizing NN I-NP +lines NNS I-NP +. . O + +Steelmakers NNS B-NP +have VBP B-VP +also RB I-VP +been VBN I-VP +adding VBG I-VP +capacity NN B-NP +of IN B-PP +so-called JJ B-NP +electrogalvanized JJ I-NP +steel NN I-NP +, , O +which WDT B-NP +is VBZ B-VP +another DT B-NP +way NN I-NP +to TO B-VP +make VB I-VP +coated VBN B-NP +corrosion-resistant JJ I-NP +steel NN I-NP +. . O + +One CD B-NP +of IN B-PP +the DT B-NP +advantages NNS I-NP +of IN B-PP +the DT B-NP +hot-dipped JJ I-NP +process NN I-NP +is VBZ B-VP +that IN B-SBAR +it PRP B-NP +allows VBZ B-VP +the DT B-NP +steel NN I-NP +to TO B-VP +be VB I-VP +covered VBN I-VP +with IN B-PP +a DT B-NP +thicker JJR I-NP +coat NN I-NP +of IN B-PP +zinc NN B-NP +more RBR B-ADVP +quickly RB I-ADVP +. . O + +ONCE RB O +YOU PRP B-NP +MAKE VB B-VP +UP IN B-PRT +your PRP$ B-NP +mind NN I-NP +about IN B-PP +an DT B-NP +investment NN I-NP +, , O +the DT B-NP +rest NN I-NP +is VBZ B-VP +easy JJ B-ADJP +, , O +right NN B-INTJ +? . O + +You PRP B-NP +just RB B-ADVP +call VBP B-VP +your PRP$ B-NP +broker NN I-NP +and CC O +say VBP B-VP +`` `` O +buy VB B-VP +'' '' I-VP +or CC I-VP +`` `` I-VP +sell VB I-VP +. . O +'' '' O + +Dream NNP B-VP +on NNP B-PRT +. . O + +There EX B-NP +are VBP B-VP +all DT B-NP +sorts NNS I-NP +of IN B-PP +ways NNS B-NP +to TO B-VP +give VB I-VP +buy NN B-NP +and CC I-NP +sell VB I-NP +instructions NNS I-NP +to TO B-PP +a DT B-NP +broker NN I-NP +-- : O +and CC O +just RB B-NP +as IN I-NP +many JJ I-NP +ways NNS I-NP +to TO B-VP +get VB I-VP +burned VBN I-VP +if IN B-SBAR +you PRP B-NP +do VBP B-VP +n't RB I-VP +know VB I-VP +what WP B-NP +you PRP B-NP +'re VBP B-VP +doing VBG I-VP +. . O + +So RB O +here RB B-ADVP +'s VBZ B-VP +a DT B-NP +rundown NN I-NP +of IN B-PP +the DT B-NP +most RBS I-NP +common JJ I-NP +types NNS I-NP +of IN B-PP +market NN B-NP +orders NNS I-NP +permitted VBN B-VP +by IN B-PP +the DT B-NP +stock NN I-NP +and CC I-NP +commodity NN I-NP +exchanges NNS I-NP +. . O + +Two CD B-NP +things NNS I-NP +to TO B-VP +keep VB I-VP +in IN B-PP +mind NN B-NP +: : O +Not RB B-NP +all DT I-NP +exchanges NNS I-NP +accept VBP B-VP +every DT B-NP +type NN I-NP +of IN B-PP +order NN B-NP +. . O + +And CC O +even RB B-ADVP +when WRB B-ADVP +a DT B-NP +specific JJ I-NP +order NN I-NP +is VBZ B-VP +acceptable JJ B-ADJP +to TO B-PP +an DT B-NP +exchange NN I-NP +, , O +a DT B-NP +brokerage NN I-NP +firm NN I-NP +can MD B-VP +refuse VB I-VP +to TO I-VP +enter VB I-VP +it PRP B-NP +for IN B-PP +a DT B-NP +customer NN I-NP +. . O + +Market NNP B-NP +Order NNP I-NP +: : O +This DT B-NP +is VBZ B-VP +probably RB B-ADVP +the DT B-NP +most RBS I-NP +widely RB I-NP +used VBN I-NP +order NN I-NP +-- : O +and CC O +the DT B-NP +one CD I-NP +most RBS B-ADJP +open JJ I-ADJP +to TO B-PP +abuse VB B-NP +by IN B-PP +unscrupulous JJ B-NP +floor NN I-NP +brokers NNS I-NP +, , O +since IN B-SBAR +it PRP B-NP +imposes VBZ B-VP +no DT B-NP +price NN I-NP +restrictions NNS I-NP +. . O + +With IN B-PP +a DT B-NP +market NN I-NP +order NN I-NP +, , O +an DT B-NP +investor NN I-NP +tells VBZ B-VP +a DT B-NP +broker NN I-NP +to TO B-VP +buy VB I-VP +or CC I-VP +sell VB I-VP +`` `` O +at IN B-PP +the DT B-NP +market NN I-NP +. . O +'' '' O + +It PRP B-NP +'s VBZ B-VP +like IN B-PP +saying VBG B-VP +, , O +`` `` O +get VB B-VP +me PRP B-NP +in IN B-ADVP +now RB B-ADVP +'' '' O +or CC O +`` `` O +get VB B-VP +me PRP B-NP +out IN B-ADVP +now RB B-ADVP +. . O +'' '' O + +For IN B-PP +example NN B-NP +, , O +if IN B-SBAR +wheat NN B-NP +is VBZ B-VP +being VBG I-VP +offered VBN I-VP +at IN B-PP +$ $ B-NP +4.065 CD I-NP +and CC O +bid NN B-VP +at IN B-PP +$ $ B-NP +4.060 CD I-NP +, , O +a DT B-NP +market NN I-NP +order NN I-NP +to TO B-VP +buy VB I-VP +would MD B-VP +be VB I-VP +filled VBN I-VP +at IN B-PP +the DT B-NP +higher JJR I-NP +price NN I-NP +and CC O +a DT B-NP +market NN I-NP +order NN I-NP +to TO B-VP +sell VB I-VP +at IN B-PP +the DT B-NP +lower JJR I-NP +price NN I-NP +. . O + +A DT B-NP +recent JJ I-NP +indictment NN I-NP +alleges VBZ B-VP +that IN B-SBAR +some DT B-NP +floor NN I-NP +brokers NNS I-NP +at IN B-PP +the DT B-NP +two CD I-NP +largest JJS I-NP +Chicago NNP I-NP +commodity NN I-NP +exchanges NNS I-NP +used VBD B-VP +market NN B-NP +orders NNS I-NP +to TO B-VP +fill VB I-VP +customers NNS B-NP +' POS B-NP +orders NNS I-NP +at IN B-PP +unfavorable JJ B-NP +prices NNS I-NP +by IN B-PP +arranging VBG B-VP +trades NNS B-NP +with IN B-PP +fellow NN B-NP +brokers NNS I-NP +. . O + +Profits NNS B-NP +realized VBD B-VP +from IN B-PP +these DT B-NP +trades NNS I-NP +would MD B-VP +then RB I-VP +be VB I-VP +shared VBN I-VP +by IN B-PP +the DT B-NP +conspiring VBG I-NP +brokers NNS I-NP +. . O + +Limit VB B-NP +Order NNP I-NP +: : O +Limit VB B-NP +orders NNS I-NP +are VBP B-VP +used VBN I-VP +when WRB B-ADVP +investors NNS B-NP +want VBP B-VP +to TO I-VP +restrict VB I-VP +the DT B-NP +amount NN I-NP +they PRP B-NP +will MD B-VP +receive VB I-VP +or CC I-VP +pay VB I-VP +for IN B-PP +an DT B-NP +investment NN I-NP +. . O + +Investors NNS B-NP +do VBP B-VP +this DT B-NP +by IN B-PP +specifying VBG B-VP +a DT B-NP +minimum JJ I-NP +price NN I-NP +at IN B-PP +which WDT B-NP +the DT B-NP +investment NN I-NP +may MD B-VP +be VB I-VP +sold VBN I-VP +or CC O +the DT B-NP +maximum JJ I-NP +price NN I-NP +that WDT B-NP +may MD B-VP +be VB I-VP +paid VBN I-VP +for IN B-PP +it PRP B-NP +. . O + +Suppose VB B-VP +an DT B-NP +investor NN I-NP +wants VBZ B-VP +to TO I-VP +sell VB I-VP +a DT B-NP +stock NN I-NP +, , O +but CC O +not RB O +for IN B-PP +less JJR B-NP +than IN I-NP +$ $ I-NP +55 NN I-NP +. . O + +A DT B-NP +limit NN I-NP +order NN I-NP +to TO B-VP +sell VB I-VP +could MD B-VP +be VB I-VP +entered VBN I-VP +at IN B-PP +that DT B-NP +price NN I-NP +. . O + +One CD B-NP +risk NN I-NP +: : O +Investors NNS B-NP +may MD B-VP +regret VB I-VP +the DT B-NP +restriction NN I-NP +if IN B-SBAR +the DT B-NP +stock NN I-NP +reaches VBZ B-VP +54 CD B-NP +and CC O +then RB O +falls VBZ B-VP +. . O + +Unless IN B-SBAR +the DT B-NP +market NN I-NP +goes VBZ B-VP +at IN B-NP +least JJS I-NP +one CD I-NP +tick VB I-NP +-LRB- ( O +the DT B-NP +smallest JJS I-NP +price NN I-NP +increment NN I-NP +permitted VBN B-VP +-RRB- ) O +beyond IN B-PP +the DT B-NP +limit NN I-NP +price NN I-NP +, , O +investors NNS B-NP +are VBP B-VP +n't RB I-VP +assured VBN I-VP +of IN B-PP +having VBG B-VP +their PRP$ B-NP +orders NNS I-NP +filled VBN B-VP +because IN B-SBAR +there EX B-NP +may MD B-VP +not RB I-VP +be VB I-VP +sufficient JJ B-NP +trading NN I-NP +volume NN I-NP +to TO B-VP +permit VB I-VP +filling VBG I-VP +it PRP B-NP +at IN B-PP +the DT B-NP +specified VBN I-NP +price NN I-NP +. . O + +Stop VB B-NP +Order NNP I-NP +: : O +Stop VB B-NP +orders NNS I-NP +tell VB B-VP +a DT B-NP +floor NN I-NP +broker NN I-NP +to TO B-VP +buy VB I-VP +or CC I-VP +sell VB I-VP +an DT B-NP +investment NN I-NP +once RB B-SBAR +the DT B-NP +price NN I-NP +reaches VBZ B-VP +a DT B-NP +certain JJ I-NP +level NN I-NP +. . O + +Once RB O +the DT B-NP +price NN I-NP +reaches VBZ B-VP +that DT B-NP +level NN I-NP +, , O +a DT B-NP +stop NN I-NP +order NN I-NP +turns VBZ B-VP +into IN B-PP +a DT B-NP +market NN I-NP +order NN I-NP +, , O +and CC O +the DT B-NP +order NN I-NP +is VBZ B-VP +filled VBN I-VP +at IN B-PP +whatever WDT B-NP +price VBP I-NP +the DT B-NP +broker NN I-NP +can MD B-VP +get VB I-VP +. . O + +Stop VB B-NP +orders NNS I-NP +are VBP B-VP +sometimes RB I-VP +called VBN I-VP +`` `` B-NP +stop-loss NN I-NP +'' '' I-NP +orders NNS I-NP +because IN B-SBAR +they PRP B-NP +are VBP B-VP +frequently RB I-VP +used VBN I-VP +to TO B-VP +protect VB I-VP +profits NNS B-NP +or CC O +limit NN B-VP +losses NNS B-NP +. . O + +While IN B-SBAR +stop NN B-NP +orders NNS I-NP +sound VBP B-VP +similar JJ B-ADJP +to TO B-PP +limit VB B-NP +orders NNS I-NP +, , O +there EX B-NP +is VBZ B-VP +a DT B-NP +difference NN I-NP +: : O +Sell VB B-NP +stops VBZ I-NP +must MD B-VP +be VB I-VP +entered VBN I-VP +at IN B-PP +a DT B-NP +price NN I-NP +below IN B-PP +the DT B-NP +current JJ I-NP +market NN I-NP +price NN I-NP +and CC O +buy VB B-NP +stops VBZ I-NP +above RB B-PP +. . O + +In IN B-PP +contrast NN B-NP +, , O +sell VB B-NP +limit NN I-NP +orders NNS I-NP +must MD B-VP +be VB I-VP +placed VBN I-VP +above IN B-PP +the DT B-NP +market NN I-NP +price NN I-NP +and CC O +buy VB B-NP +limit NN I-NP +orders NNS I-NP +are VBP B-VP +placed VBN I-VP +below RB B-PP +. . O + +The DT B-NP +crash NN I-NP +in IN B-PP +October NNP B-NP +1987 CD I-NP +and CC O +last JJ B-NP +Friday NNP I-NP +'s POS B-NP +sell-off NN I-NP +painfully RB B-VP +taught VBD I-VP +some DT B-NP +investors NNS I-NP +exactly RB B-ADVP +what WP B-NP +stop VBP B-NP +orders NNS I-NP +will MD B-VP +and CC I-VP +wo MD I-VP +n't RB O +do VB B-VP +. . O + +An DT B-NP +investor NN I-NP +who WP B-NP +may MD B-VP +have VB I-VP +placed VBN I-VP +a DT B-NP +stop-loss NN I-NP +order NN I-NP +at IN B-PP +$ $ B-NP +90 CD I-NP +under IN B-PP +a DT B-NP +stock NN I-NP +that WDT B-NP +was VBD B-VP +trading VBG I-VP +at IN B-PP +$ $ B-NP +100 CD I-NP +a DT B-NP +share NN I-NP +on IN B-PP +the DT B-NP +Friday NNP I-NP +before IN B-PP +the DT B-NP +crash NN I-NP +was VBD B-VP +stunned VBN I-VP +to TO I-VP +discover VB I-VP +that IN B-SBAR +the DT B-NP +order NN I-NP +was VBD B-VP +filled VBN I-VP +at IN B-PP +$ $ B-NP +75 CD I-NP +when WRB B-ADVP +the DT B-NP +stock NN I-NP +opened VBD B-VP +at IN B-PP +that DT B-NP +price NN I-NP +on IN B-PP +Monday NNP B-NP +. . O + +Stop-Limit NNP B-NP +Order NNP I-NP +: : O +Stop-limit JJ B-NP +orders NNS I-NP +turn VBP B-VP +into IN B-PP +limit NN B-NP +orders NNS I-NP +when WRB B-ADVP +an DT B-NP +investment NN I-NP +trades NNS B-VP +at IN B-PP +the DT B-NP +price NN I-NP +specified VBN B-VP +in IN B-PP +the DT B-NP +order NN I-NP +. . O + +Unlike IN B-PP +stop NN B-NP +orders NNS I-NP +-- : O +which WDT B-NP +are VBP B-VP +filled VBN I-VP +at IN B-PP +the DT B-NP +market NN I-NP +price NN I-NP +when WRB B-ADVP +the DT B-NP +stop NN I-NP +price NN I-NP +is VBZ B-VP +hit VBN I-VP +-- : O +stop-limit JJ B-NP +orders NNS I-NP +demand VBP B-VP +that IN B-SBAR +the DT B-NP +trades NNS I-NP +be VBP B-VP +made VBN I-VP +only RB B-ADVP +at IN B-PP +the DT B-NP +specified VBN I-NP +price NN I-NP +. . O + +If IN B-SBAR +it PRP B-NP +ca MD B-VP +n't RB I-VP +be VB I-VP +made VBN I-VP +at IN B-PP +that DT B-NP +price NN I-NP +, , O +it PRP B-NP +does VBZ B-VP +n't RB I-VP +get VB I-VP +filled VBN I-VP +. . O + +Investors NNS B-NP +who WP B-NP +wish VBP B-VP +to TO I-VP +be VB I-VP +out IN B-PP +of IN B-PP +a DT B-NP +position NN I-NP +, , O +without IN B-PP +the DT B-NP +risk NN I-NP +of IN B-PP +receiving VBG B-VP +a DT B-NP +worse-than-expected JJ I-NP +price NN I-NP +from IN B-PP +a DT B-NP +market NN I-NP +order NN I-NP +, , O +may MD B-VP +use VB I-VP +this DT B-NP +type NN I-NP +of IN B-PP +order NN B-NP +to TO B-VP +specify VB I-VP +the DT B-NP +price NN I-NP +at IN B-PP +which WDT B-NP +the DT B-NP +order NN I-NP +must MD B-VP +be VB I-VP +filled VBN I-VP +. . O + +But CC O +if IN B-SBAR +the DT B-NP +market NN I-NP +moves NNS B-VP +quickly RB B-ADVP +enough RB I-ADVP +, , O +it PRP B-NP +may MD B-VP +be VB I-VP +impossible JJ B-ADJP +for IN B-SBAR +the DT B-NP +broker NN I-NP +to TO B-VP +carry VB I-VP +out RP B-PRT +the IN B-NP +order NN I-NP +because IN B-SBAR +the DT B-NP +investment NN I-NP +has VBZ B-VP +passed VBN I-VP +the DT B-NP +specified VBN I-NP +price NN I-NP +. . O + +Market-If-Touched NNP B-NP +Order NNP I-NP +: : O +Market-if-touched JJ B-NP +orders NNS I-NP +are VBP B-VP +like IN B-PP +stop NN B-NP +orders NNS I-NP +in IN B-SBAR +that DT I-SBAR +they PRP B-NP +become VBP B-VP +market NN B-NP +orders NNS I-NP +if IN B-SBAR +a DT B-NP +specified VBN I-NP +price NN I-NP +is VBZ B-VP +reached VBN I-VP +. . O + +However RB B-ADVP +, , O +unlike IN B-PP +a DT B-NP +buy-stop JJ I-NP +order NN I-NP +, , O +a DT B-NP +buy NN I-NP +market-if-touched NN I-NP +order NN I-NP +is VBZ B-VP +entered VBN I-VP +at IN B-PP +a DT B-NP +price NN I-NP +below IN B-PP +the DT B-NP +current JJ I-NP +price NN I-NP +, , O +while IN B-SBAR +a DT B-NP +sell NN I-NP +market-if-touched NN I-NP +order NN I-NP +is VBZ B-VP +entered VBN I-VP +at IN B-PP +a DT B-NP +price NN I-NP +above IN B-PP +it PRP B-NP +. . O + +As RB B-ADVP +soon RB I-ADVP +as IN B-SBAR +the DT B-NP +market NN I-NP +trades NNS B-VP +at IN B-PP +the DT B-NP +specified VBN I-NP +price NN I-NP +the DT B-NP +floor NN I-NP +broker NN I-NP +will MD B-VP +fill VB I-VP +it PRP B-NP +at IN B-PP +the DT B-NP +best JJS I-NP +possible JJ I-NP +price NN I-NP +. . O + +Fill-Or-Kill NNP B-NP +Order NNP I-NP +: : O +The DT B-NP +fill-or-kill JJ I-NP +order NN I-NP +is VBZ B-VP +one CD B-NP +of IN B-PP +several RB B-NP +associated VBN B-VP +with IN B-PP +the DT B-NP +timing NN I-NP +of IN B-PP +trades NNS B-NP +. . O + +It PRP B-NP +instructs VBZ B-VP +a DT B-NP +broker NN I-NP +to TO B-VP +buy VB I-VP +or CC I-VP +sell VB I-VP +an DT B-NP +investment NN I-NP +at IN B-PP +the DT B-NP +specified VBN I-NP +price NN I-NP +or CC O +better JJR B-ADJP +. . O + +But CC O +if IN B-SBAR +the DT B-NP +investment NN I-NP +ca MD B-VP +n't RB I-VP +be VB I-VP +bought VBN I-VP +or CC I-VP +sold VBN I-VP +immediately RB B-ADVP +, , O +the DT B-NP +order NN I-NP +is VBZ B-VP +automatically RB I-VP +canceled VBN I-VP +. . O + +Gregory NNP B-NP +Bessemer NNP I-NP +, , O +who WP B-NP +came VBD B-VP +in IN B-PP +second JJ B-NP +in IN B-PP +the DT B-NP +stock NN I-NP +division NN I-NP +of IN B-PP +the DT B-NP +recently RB I-NP +completed VBN I-NP +U.S. NNP I-NP +Trading NNP I-NP +Championship NNP I-NP +, , O +says VBZ B-VP +he PRP B-NP +uses VBZ B-VP +fill-or-kill JJ B-NP +orders NNS I-NP +almost RB B-ADVP +exclusively RB I-ADVP +when WRB B-ADVP +trading NN B-VP +options NNS B-NP +. . O + +`` `` O +I PRP B-NP +like VB B-VP +to TO I-VP +use VB I-VP +them PRP B-NP +to TO B-VP +feel VB I-VP +out RP B-PRT +the IN B-NP +market NN I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +`` `` O +If IN B-SBAR +they PRP B-NP +do VBP B-VP +n't RB I-VP +fill VB I-VP +it PRP B-NP +immediately RB B-ADVP +, , O +then RB B-ADVP +I PRP B-NP +can MD B-VP +start VB I-VP +over IN B-ADVP +at IN B-PP +a DT B-NP +new JJ I-NP +price NN I-NP +or CC O +try VB B-VP +again RB B-ADVP +with IN B-PP +the DT B-NP +same JJ I-NP +price NN I-NP +. . O +'' '' O + +Not-Held NNP B-NP +Order NNP I-NP +: : O +This DT B-NP +is VBZ B-VP +another DT B-NP +timing NN I-NP +order NN I-NP +. . O + +It PRP B-NP +is VBZ B-VP +a DT B-NP +market NN I-NP +order NN I-NP +that WDT B-NP +allows VBZ B-VP +floor NN B-NP +brokers NNS I-NP +to TO B-VP +take VB I-VP +more JJR B-NP +time NN I-NP +to TO B-VP +buy VB I-VP +or CC I-VP +sell VB I-VP +an DT B-NP +investment NN I-NP +, , O +if IN B-SBAR +they PRP B-NP +think VBP B-VP +they PRP B-NP +can MD B-VP +get VB I-VP +a DT B-NP +better JJR I-NP +price NN I-NP +by IN B-PP +waiting VBG B-NP +. . O + +Not-held JJ B-NP +orders NNS I-NP +, , O +which WDT B-NP +are VBP B-VP +also RB I-VP +known VBN I-VP +as IN B-PP +`` `` O +disregard NN B-VP +the DT B-NP +tape NN I-NP +'' '' B-NP +orders NNS I-NP +, , O +are VBP B-VP +always RB I-VP +done VBN I-VP +at IN B-PP +the DT B-NP +customer NN I-NP +'s POS B-NP +risk NN I-NP +. . O + +One-Cancels-The-Other NNP B-NP +Order NNP I-NP +: : O +This DT B-NP +is VBZ B-VP +really RB B-ADVP +two CD B-NP +orders NNS I-NP +in IN B-PP +one CD B-NP +, , O +generally RB B-ADVP +for IN B-PP +the DT B-NP +same JJ I-NP +security NN I-NP +or CC I-NP +commodity NN I-NP +, , O +instructing VBG B-VP +floor NN B-NP +brokers NNS I-NP +to TO B-VP +fill VB I-VP +whichever WDT B-NP +order VBP I-NP +they PRP B-NP +can MD B-VP +first RB B-ADVP +and CC O +then RB O +cancel VB B-VP +the DT B-NP +other JJ I-NP +order NN I-NP +. . O + +In IN B-PP +a DT B-NP +fast-moving JJ I-NP +market NN I-NP +, , O +it PRP B-NP +prevents VBZ B-VP +an DT B-NP +investor NN I-NP +from IN B-PP +getting VBG B-VP +stuck VBN I-VP +with IN B-PP +having VBG B-VP +made VBN I-VP +two CD B-NP +trades NNS I-NP +on IN B-PP +the DT B-NP +same JJ I-NP +security NN I-NP +. . O + +Specific-Time NNP B-NP +Order NNP I-NP +: : O +This DT B-NP +type NN I-NP +of IN B-PP +order NN B-NP +couples NNS B-VP +many NN B-NP +of IN B-PP +the DT B-NP +orders NNS I-NP +described VBN B-VP +above IN B-ADVP +with IN B-PP +instructions NNS B-NP +that IN B-SBAR +the DT B-NP +order NN I-NP +must MD B-VP +be VB I-VP +carried VBN I-VP +out IN B-PRT +at IN B-PP +or CC I-PP +by IN I-PP +a DT B-NP +certain JJ I-NP +time NN I-NP +. . O + +`` `` O +On IN B-NP +the DT I-NP +close NN I-NP +'' '' O +can MD B-VP +be VB I-VP +added VBN I-VP +to TO B-PP +many VB B-NP +types NNS I-NP +of IN B-PP +orders NNS B-NP +. . O + +For IN B-PP +example NN B-NP +, , O +`` `` O +market-on-close JJ B-NP +orders NNS I-NP +'' '' O +must MD B-VP +be VB B-VP +filled VBN I-VP +during IN B-PP +the DT B-NP +last JJ I-NP +few JJ I-NP +minutes NNS I-NP +of IN B-PP +trading NN B-NP +for IN B-PP +the DT B-NP +day NN I-NP +at IN B-PP +a DT B-NP +price NN I-NP +that WDT B-NP +is VBZ B-VP +within IN B-PP +the DT B-NP +official NN I-NP +closing VBG I-NP +range NN I-NP +of IN B-PP +prices NNS B-NP +as IN B-SBAR +determined VBN B-VP +by IN B-PP +the DT B-NP +exchange NN I-NP +. . O + +`` `` O +Stop-close-only JJ B-NP +orders NNS I-NP +'' '' O +are VBP B-VP +stop VB B-NP +orders NNS I-NP +that WDT B-NP +only RB B-ADVP +become VB B-VP +active JJ B-ADJP +during IN B-PP +the DT B-NP +closing VBG I-NP +minutes NNS I-NP +of IN B-PP +trading NN B-NP +. . O + +`` `` O +Day NNP B-NP +orders NNS I-NP +'' '' O +expire VB B-VP +at IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +day NN I-NP +on IN B-PP +which WDT B-NP +they PRP B-NP +are VBP B-VP +entered VBN I-VP +, , O +`` `` O +good-till-canceled JJ B-NP +orders NNS I-NP +'' '' O +have VBP B-VP +no DT B-NP +expiration NN I-NP +date NN I-NP +. . O + +Most JJS B-NP +brokers NNS I-NP +assume VBP B-VP +that IN B-SBAR +all DT B-NP +orders NNS I-NP +are VBP B-VP +day NN B-NP +orders NNS I-NP +unless IN B-SBAR +specified VBN B-VP +otherwise RB B-ADVP +. . O + +On IN B-PP +Oct. NNP B-NP +19 CD I-NP +, , I-NP +1987 CD I-NP +, , O +some DT B-NP +investors NNS I-NP +learned VBD B-VP +the DT B-NP +consequences NNS I-NP +of IN B-PP +entering VBG B-VP +`` `` O +good-til-canceled JJ B-NP +limit NN I-NP +orders NNS I-NP +'' '' O +and CC O +then RB O +forgetting VBG B-VP +about IN B-PP +them PRP B-NP +. . O + +They PRP B-NP +found VBD B-VP +they PRP B-NP +had VBD B-VP +bought VBN I-VP +stock NN B-NP +from IN B-PP +limit NN B-NP +orders NNS I-NP +that IN B-NP +they PRP B-NP +might MD B-VP +have VB I-VP +entered VBN I-VP +weeks NNS B-NP +or CC I-NP +months NNS I-NP +earlier RBR B-ADVP +and CC O +had VBD B-VP +forgotten VBN I-VP +to TO I-VP +cancel VB I-VP +. . O + +It PRP B-NP +is VBZ B-VP +always RB B-ADVP +the DT B-NP +responsibility NN I-NP +of IN B-PP +investors NNS B-NP +to TO B-VP +keep VB I-VP +track NN B-NP +of IN B-PP +the DT B-NP +orders NNS I-NP +they PRP B-NP +have VBP B-VP +placed VBN I-VP +. . O + +Investors NNS B-NP +who WP B-NP +change VBP B-VP +their PRP$ B-NP +mind NN I-NP +about IN B-PP +buying VBG B-NP +or CC I-NP +selling VBG I-NP +after IN B-SBAR +an DT B-NP +order NN I-NP +has VBZ B-VP +been VBN I-VP +filled VBN I-VP +are VBP B-VP +, , O +usually RB B-ADVP +, , O +stuck VBN B-VP +with IN B-PP +the DT B-NP +consequences NNS I-NP +. . O + +Mr. NNP B-NP +Angrist NNP I-NP +writes VBZ B-VP +on IN B-PP +the DT B-NP +options NNS I-NP +and CC I-NP +commodities NNS I-NP +markets NNS I-NP +for IN B-PP +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +. . O + +IN IN B-PP +SIZING NNP B-VP +UP IN B-PRT +the DT B-NP +risks NNS I-NP +of IN B-PP +stock-market NN B-NP +investments NNS I-NP +, , O +there EX B-NP +'s VBZ B-VP +probably RB B-ADVP +no DT B-NP +starting VBG I-NP +place NN I-NP +better JJR B-ADJP +than IN B-PP +`` `` O +beta NN B-NP +. . O +'' '' O + +But CC O +investors NNS B-NP +better RBR B-ADVP +not RB O +ignore VB B-VP +its PRP$ B-NP +limitations NNS I-NP +, , O +either RB B-ADVP +. . O + +Beta NNP B-NP +is VBZ B-VP +a DT B-NP +handy JJ I-NP +gauge NN I-NP +that IN B-NP +measures VBZ B-VP +the DT B-NP +volatility NN I-NP +of IN B-PP +a DT B-NP +stock NN I-NP +or CC I-NP +stock NN I-NP +mutual JJ I-NP +fund NN I-NP +. . O + +For IN B-PP +any DT B-NP +given VBN I-NP +move NN I-NP +in IN B-PP +the DT B-NP +overall JJ I-NP +market NN I-NP +, , O +it PRP B-NP +suggests VBZ B-VP +how WRB B-ADVP +steeply RB I-ADVP +that IN B-NP +particular JJ I-NP +issue NN I-NP +might MD B-VP +rise VB I-VP +or CC I-VP +fall NN I-VP +. . O + +Beta JJ B-NP +figures NNS I-NP +are VBP B-VP +widely RB B-ADJP +available JJ I-ADJP +and CC O +easy JJ B-ADJP +to TO B-VP +interpret VB I-VP +. . O + +The DT B-NP +beta NN I-NP +of IN B-PP +the DT B-NP +broad JJ I-NP +market NN I-NP +, , O +typically RB B-VP +defined VBN I-VP +as IN B-PP +the DT B-NP +Standard NNP I-NP +& CC I-NP +Poor NNP I-NP +'s POS B-NP +500-stock JJ I-NP +index NN I-NP +, , O +is VBZ B-VP +always RB B-ADVP +1.0 CD B-NP +. . O + +So RB O +a DT B-NP +stock NN I-NP +with IN B-PP +a DT B-NP +beta NN I-NP +of IN B-PP +0.5 CD B-NP +is VBZ B-VP +half NN B-ADJP +as IN I-ADJP +volatile JJ I-ADJP +, , O +one CD B-NP +at IN B-PP +1.5 CD B-NP +is VBZ B-VP +50 CD B-NP +% NN I-NP +more RBR B-ADJP +volatile JJ I-ADJP +, , O +and CC O +so RB B-ADVP +on RB I-ADVP +. . O + +Cautious JJ B-NP +investors NNS I-NP +should MD B-VP +generally RB I-VP +go VB I-VP +with IN B-PP +stocks NNS B-NP +that WDT B-NP +have VBP B-VP +low JJ B-NP +betas NNS I-NP +. . O + +Go VB B-VP +with IN B-PP +high-beta JJ B-NP +stocks NNS I-NP +to TO B-VP +get VB I-VP +the DT B-NP +biggest JJS I-NP +payoff NN I-NP +from IN B-PP +a DT B-NP +bet NN I-NP +on IN B-PP +a DT B-NP +bull NN I-NP +market NN I-NP +. . O + +Remember VB B-VP +, , O +though RB B-ADVP +, , O +that DT O +beta NN B-NP +also RB B-ADVP +has VBZ B-VP +important JJ B-NP +limitations NNS I-NP +. . O + +`` `` O +Beta NNP B-NP +is VBZ B-VP +only JJ B-NP +part NN I-NP +of IN B-PP +the DT B-NP +risk NN I-NP +in IN B-PP +a DT B-NP +stock NN I-NP +, , O +'' '' O +says VBZ B-VP +William NNP B-NP +F. NNP I-NP +Sharpe NNP I-NP +, , O +the DT B-NP +Stanford NNP I-NP +University NNP I-NP +emeritus NN I-NP +professor NN I-NP +who WP B-NP +developed VBD B-VP +the DT B-NP +measure NN I-NP +. . O + +`` `` O +There EX B-NP +is VBZ B-VP +risk NN B-NP +that WDT B-NP +is VBZ B-VP +not RB I-VP +associated VBN I-VP +with IN B-PP +market NN B-NP +moves NNS I-NP +, , O +and CC O +the DT B-NP +beta NN I-NP +does VBZ B-VP +n't RB I-VP +tell VB I-VP +you PRP B-NP +the DT B-NP +magnitude NN I-NP +of IN B-PP +that DT B-NP +. . O +'' '' O + +In IN B-PP +particular JJ B-NP +, , O +beta NN B-NP +does VBZ B-VP +n't RB I-VP +measure VB I-VP +the DT B-NP +company NN I-NP +- : O +and CC O +industry-specific JJ B-NP +risk NN I-NP +associated VBN B-VP +with IN B-PP +an DT B-NP +individual JJ I-NP +stock NN I-NP +. . O + +That DT B-NP +`` `` I-NP +business NN I-NP +'' '' I-NP +risk NN I-NP +is VBZ B-VP +very RB B-ADJP +significant JJ I-ADJP +for IN B-PP +an DT B-NP +investor NN I-NP +with IN B-PP +only RB B-NP +a DT I-NP +few JJ I-NP +stocks NNS I-NP +, , O +but CC O +it PRP B-NP +virtually RB B-VP +disappears VBZ I-VP +in IN B-PP +a DT B-NP +large JJ I-NP +and CC I-NP +well-diversified JJ I-NP +portfolio NN I-NP +. . O + +Beta NNP B-NP +is VBZ B-VP +also RB B-ADVP +a DT B-NP +poor JJ I-NP +indicator NN I-NP +of IN B-PP +the DT B-NP +risk NN I-NP +in IN B-PP +stock NN B-NP +groups NNS I-NP +that WDT B-NP +march VBP B-VP +to TO B-PP +their PRP$ B-NP +own JJ I-NP +drummer NN I-NP +. . O + +In IN B-PP +particular JJ B-NP +, , O +the DT B-NP +prices NNS I-NP +of IN B-PP +gold NN B-NP +and CC O +other JJ B-NP +precious-metals NNS I-NP +stocks NNS I-NP +shoot VBP B-VP +up IN B-ADVP +and CC I-ADVP +down RB I-ADVP +, , O +but CC O +the DT B-NP +stocks NNS I-NP +tend VBP B-VP +to TO I-VP +have VB I-VP +low JJ B-NP +betas NNS I-NP +because IN B-SBAR +their PRP$ B-NP +moves NNS I-NP +are VBP B-VP +not RB O +market-inspired JJ B-ADJP +. . O + +Concern NN B-NP +that IN B-SBAR +investors NNS B-NP +could MD B-VP +misinterpret VB I-VP +such JJ B-NP +readings NNS I-NP +led VBD B-VP +the DT B-NP +American NNP I-NP +Association NNP I-NP +of IN B-PP +Individual JJ B-NP +Investors NNS I-NP +to TO B-VP +eliminate VB I-VP +beta NN B-NP +figures NNS I-NP +for IN B-PP +precious-metals NNS B-NP +funds NNS I-NP +in IN B-PP +the DT B-NP +1989 CD I-NP +edition NN I-NP +of IN B-PP +its PRP$ B-NP +mutual-fund JJ I-NP +guide NN I-NP +. . O + +`` `` O +Our PRP$ B-NP +fear NN I-NP +was VBD B-VP +people NNS B-NP +would MD B-VP +look VB I-VP +just RB B-ADVP +at IN B-PP +the DT B-NP +beta NN I-NP +-LCB- ( O +of IN B-PP +a DT B-NP +gold NN I-NP +fund NN I-NP +-RCB- ) O +and CC O +say VBP B-VP +here RB B-ADVP +is VBZ B-VP +an DT B-NP +investment NN I-NP +with IN B-PP +very RB B-NP +low JJ I-NP +risk NN I-NP +, , O +'' '' O +says VBZ B-VP +John NNP B-NP +Markese NNP I-NP +, , O +director NN B-NP +of IN B-PP +research NN B-NP +for IN B-PP +the DT B-NP +Chicago-based JJ I-NP +group NN I-NP +. . O + +`` `` O +In IN B-PP +reality NN B-NP +it PRP B-NP +'s VBZ B-VP +very RB B-ADJP +volatile JJ I-ADJP +, , O +but CC O +the DT B-NP +movements NNS I-NP +are VBP B-VP +not RB O +because IN B-PP +of IN I-PP +market NN B-NP +movements NNS I-NP +. . O + +READY NNP B-ADJP +TO TO B-VP +REVIEW NNP I-VP +the DT B-NP +riskiness NN I-NP +of IN B-PP +your PRP$ B-NP +investment NN I-NP +portfolio NN I-NP +? . O + +First RB B-ADVP +, , O +a DT B-NP +pop NN I-NP +quiz NN I-NP +. . O + +When WRB B-ADVP +you PRP B-NP +think VBP B-VP +of IN B-PP +the DT B-NP +words NNS I-NP +`` `` I-NP +risk NN I-NP +'' '' I-NP +and CC I-NP +`` `` I-NP +investment NN I-NP +, , O +'' '' O +what WP B-NP +'s VBZ B-VP +the DT B-NP +specific JJ I-NP +peril NN I-NP +that WDT B-NP +comes VBZ B-VP +to TO B-PP +mind VB B-VP +? . O + +Pencils NNS B-NP +down RB B-ADVP +. . O + +If IN B-SBAR +you PRP B-NP +'re VBP B-VP +like IN B-PP +most RBS B-NP +people NNS I-NP +, , O +you PRP B-NP +said VBD B-VP +it PRP B-NP +'s VBZ B-VP +a DT B-NP +holding VBG I-NP +that WDT B-NP +goes VBZ B-VP +completely RB B-ADJP +sour JJ I-ADJP +-- : B-NP +maybe RB I-NP +a DT B-NP +bond NN I-NP +that IN B-NP +defaults NNS B-VP +or CC O +a DT B-NP +stock NN I-NP +whose WP$ B-NP +value NN I-NP +disappears VBZ B-VP +in IN B-PP +a DT B-NP +bankruptcy NN I-NP +proceeding NN I-NP +. . O + +`` `` O +People NNS B-NP +tend VBP B-VP +to TO I-VP +see VB I-VP +risk NN B-NP +primarily RB B-ADVP +on IN B-PP +that DT B-NP +one CD I-NP +dimension NN I-NP +, , O +'' '' O +says VBZ B-VP +Timothy NNP B-NP +Kochis NNP I-NP +, , O +national JJ B-NP +director NN I-NP +of IN B-PP +personal JJ B-NP +financial JJ I-NP +planning NN I-NP +for IN B-PP +accountants NNS B-NP +Deloitte NNP I-NP +, , I-NP +Haskins NNP I-NP +& CC I-NP +Sells NNP I-NP +. . O + +But CC O +therein RB B-ADVP +lies VBZ B-VP +another DT B-NP +aspect NN I-NP +of IN B-PP +investment NN B-NP +risk NN I-NP +: : O +the DT B-NP +hazard NN I-NP +of IN B-PP +shaping VBG B-VP +your PRP$ B-NP +portfolio NN I-NP +to TO B-VP +avoid VB I-VP +one CD B-NP +or CC I-NP +more JJR I-NP +types NNS I-NP +of IN B-PP +risk NN B-NP +and CC O +being VBG B-VP +blind-sided JJ I-VP +by IN B-PP +others NNS B-NP +. . O + +This DT B-NP +is VBZ B-VP +clearly RB B-ADVP +not RB O +good JJ B-NP +news NN I-NP +to TO B-PP +all DT B-NP +you PRP I-NP +people NNS I-NP +who WP B-NP +sleep VBP B-VP +like IN B-PP +babies NNS B-NP +every DT B-NP +night NN I-NP +, , O +lulled VBN B-VP +by IN B-PP +visions NNS B-NP +of IN B-PP +your PRP$ B-NP +money NN I-NP +sitting VBG B-VP +risk-free JJ B-ADVP +in IN B-PP +six-month JJ B-NP +CDs NNS I-NP +. . O + +Risk NN B-NP +wears VBZ B-VP +many JJ B-NP +disguises NNS I-NP +, , O +and CC O +investments NNS B-NP +that WDT B-NP +are VBP B-VP +low JJ B-ADJP +in IN B-PP +one CD B-NP +type NN I-NP +of IN B-PP +obvious JJ B-NP +risk NN I-NP +can MD B-VP +be VB I-VP +distressingly RB B-ADJP +high JJ I-ADJP +in IN B-PP +other JJ B-NP +, , I-NP +less RBR I-NP +obvious JJ I-NP +kinds NNS I-NP +. . O + +U.S. NNP B-NP +Treasury NNP I-NP +bonds NNS I-NP +, , O +for IN B-PP +example NN B-NP +, , O +are VBP B-VP +supersafe NN B-NP +when WRB B-ADVP +it PRP B-NP +comes VBZ B-VP +to TO B-PP +returning VBG B-VP +money NN B-NP +at IN B-PP +maturity NN B-NP +. . O + +But CC O +their PRP$ B-NP +value NN I-NP +as IN B-PP +investments NNS B-NP +can MD B-VP +be VB I-VP +decimated VBN I-VP +by IN B-PP +inflation NN B-NP +, , O +which WDT B-NP +erodes VBZ B-VP +the DT B-NP +purchasing VBG I-NP +power NN I-NP +of IN B-PP +bonds NNS B-NP +' POS B-NP +fixed-dollar JJ I-NP +interest NN I-NP +payments NNS I-NP +. . O + +Risk NN B-NP +is VBZ B-VP +also RB B-ADVP +a DT B-NP +function NN I-NP +of IN B-PP +time NN B-NP +. . O + +When WRB B-ADVP +financial JJ B-NP +professionals NNS I-NP +measure VBP B-VP +risk NN B-NP +mathematically RB B-ADVP +, , O +they PRP B-NP +usually RB B-ADVP +focus VBP B-VP +on IN B-PP +the DT B-NP +volatility NN I-NP +of IN B-PP +short-term JJ B-NP +returns NNS I-NP +. . O + +Stocks NNS B-NP +are VBP B-VP +much RB B-ADJP +riskier JJR I-ADJP +than IN B-PP +Treasury NNP B-NP +bills NNS I-NP +, , O +for IN B-PP +example NN B-NP +, , O +because IN B-SBAR +the DT B-NP +range NN I-NP +in IN B-PP +performance NN B-NP +from IN B-PP +the DT B-NP +best JJS I-NP +years NNS I-NP +to TO B-PP +the DT B-NP +worst JJS I-NP +is VBZ B-VP +much RB B-ADJP +wider JJR I-ADJP +. . O + +That DT B-NP +is VBZ B-VP +usually RB I-VP +measured VBN I-VP +by IN B-PP +the DT B-NP +standard JJ I-NP +deviation NN I-NP +, , O +or CC O +divergence NN B-NP +, , O +of IN B-PP +annual JJ B-NP +results NNS I-NP +from IN B-PP +the DT B-NP +average JJ I-NP +return NN I-NP +over IN B-PP +time NN B-NP +. . O + +But CC O +investors NNS B-NP +who WP B-NP +are VBP B-VP +preoccupied VBN I-VP +with IN B-PP +short-term JJ B-NP +fluctuations NNS I-NP +may MD B-VP +be VB I-VP +paying VBG I-VP +too RB B-NP +little JJ I-NP +attention NN I-NP +to TO B-PP +another DT B-NP +big JJ I-NP +risk NN I-NP +-- : O +not RB O +generating VBG B-VP +enough JJ B-NP +money NN I-NP +to TO B-VP +meet VB I-VP +long-term JJ B-NP +financial JJ I-NP +and CC I-NP +life-style NN I-NP +goals NNS I-NP +. . O + +For IN B-PP +instance NN B-NP +, , O +some DT B-NP +investors NNS I-NP +have VBP B-VP +sworn VBN I-VP +off IN B-PRT +stocks NNS B-NP +since IN B-PP +the DT B-NP +1987 CD I-NP +market NN I-NP +crash NN I-NP +; : O +last JJ B-NP +Friday NNP I-NP +'s POS B-NP +debacle NN I-NP +only RB B-ADVP +reinforced VBD B-VP +those DT B-NP +feelings NNS I-NP +. . O + +But CC O +the DT B-NP +stock NN I-NP +market NN I-NP +, , O +despite IN B-PP +some DT B-NP +stomach-churning JJ I-NP +declines NNS I-NP +, , O +has VBZ B-VP +far RB I-VP +outperformed VBN I-VP +other JJ B-NP +securities NNS I-NP +over IN B-PP +extended VBN B-NP +periods NNS I-NP +. . O + +By IN B-PP +retreating VBG B-VP +to TO B-PP +the DT B-NP +apparent JJ I-NP +security NN I-NP +of IN B-PP +, , O +say VBP B-ADVP +, , O +money-market JJ B-NP +funds NNS I-NP +, , O +investors NNS B-NP +may MD B-VP +not RB I-VP +be VB I-VP +earning VBG I-VP +enough JJ B-NP +investment NN I-NP +return NN I-NP +to TO B-VP +pay VB I-VP +for IN B-PP +a DT B-NP +comfortable JJ I-NP +retirement NN I-NP +. . O + +`` `` O +That DT B-NP +'s VBZ B-VP +the DT B-NP +biggest JJS I-NP +risk NN I-NP +of IN B-PP +all DT B-NP +-- : O +the DT B-NP +risk NN I-NP +of IN B-PP +not RB O +meeting VBG B-VP +your PRP$ B-NP +objectives NNS I-NP +, , O +'' '' O +says VBZ B-VP +Steven NNP B-NP +B. NNP I-NP +Enright NNP I-NP +, , O +a DT B-NP +New NNP I-NP +York NNP I-NP +financial JJ I-NP +planner NN I-NP +with IN B-PP +Seidman NNP B-NP +Financial NNP I-NP +Services NNPS I-NP +. . O + +As IN B-PP +a DT B-NP +result NN I-NP +, , O +financial JJ B-NP +advisers NNS I-NP +say VBP B-VP +they PRP B-NP +take VBP B-VP +several JJ B-NP +steps NNS I-NP +when WRB B-ADVP +evaluating VBG B-VP +the DT B-NP +riskiness NN I-NP +of IN B-PP +clients NNS B-NP +' POS B-NP +portfolios NNS I-NP +. . O + +They PRP B-NP +estimate VBP B-VP +the DT B-NP +return NN I-NP +a DT B-NP +person NN I-NP +'s POS B-NP +current JJ I-NP +portfolio NN I-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +generate VB I-VP +over IN B-PP +time NN B-NP +, , O +along IN B-CONJP +with IN I-CONJP +a DT B-NP +standard JJ I-NP +deviation NN I-NP +that WDT B-NP +suggests VBZ B-VP +how WRB B-NP +much JJ I-NP +the DT B-NP +return NN I-NP +will MD B-VP +vary VB I-VP +year NN B-NP +by IN B-PP +year NN B-NP +. . O + +They PRP B-NP +try VBP B-VP +to TO I-VP +figure VB I-VP +out RP B-PRT +the IN B-NP +long-term JJ I-NP +results NNS I-NP +the DT B-NP +person NN I-NP +needs VBZ B-VP +to TO B-VP +meet VB I-VP +major JJ B-NP +goals NNS I-NP +. . O + +And CC O +they PRP B-NP +eyeball NN B-VP +types NNS B-NP +of IN B-PP +risk NN B-NP +that WDT B-NP +are VBP B-VP +not RB I-VP +easily RB I-VP +quantified VBN I-VP +. . O + +The DT B-NP +portfolios NNS I-NP +of IN B-PP +two CD B-NP +hypothetical JJ I-NP +families NNS I-NP +, , O +one CD B-NP +a DT B-NP +couple NN I-NP +at IN B-PP +retirement NN B-NP +age NN I-NP +and CC O +another DT B-NP +a DT B-NP +two-income JJ I-NP +couple NN I-NP +at IN B-PP +age NN B-NP +45 CD I-NP +, , O +illustrate VB B-VP +several JJ B-NP +types NNS I-NP +of IN B-PP +risk NN B-NP +that IN B-NP +investors NNS B-NP +need VBP B-VP +to TO I-VP +consider VB I-VP +. . O + +For IN B-PP +instance NN B-NP +, , O +the DT B-NP +insured VBN I-NP +municipal JJ I-NP +bonds NNS I-NP +that WDT B-NP +dominate VBP B-VP +the DT B-NP +older JJR I-NP +couple NN I-NP +'s POS B-NP +portfolio NN I-NP +were VBD B-VP +probably RB I-VP +selected VBN I-VP +in IN B-PP +large JJ B-NP +part NN I-NP +for IN B-PP +their PRP$ B-NP +low JJ I-NP +repayment NN I-NP +risk NN I-NP +. . O + +But CC O +they PRP B-NP +expose VBP B-VP +the DT B-NP +holders NNS I-NP +to TO B-PP +a DT B-NP +lot NN I-NP +of IN B-PP +inflation NN B-NP +risk NN I-NP +and CC O +interest-rate NN B-NP +risk NN I-NP +. . O + +The DT B-NP +younger JJR I-NP +couple NN I-NP +'s POS B-NP +stockholdings NNS I-NP +involve VBP B-VP +more JJR B-NP +risk NN I-NP +than IN B-PP +a DT B-NP +diversified JJ I-NP +stock NN I-NP +portfolio NN I-NP +because IN B-SBAR +the DT B-NP +bulk NN I-NP +of IN B-PP +the DT B-NP +money NN I-NP +is VBZ B-VP +in IN B-PP +a DT B-NP +single JJ I-NP +issue NN I-NP +. . O + +Note VB B-VP +that IN B-SBAR +the DT B-NP +younger JJR I-NP +couple NN I-NP +'s POS B-NP +portfolio NN I-NP +has VBZ B-VP +a DT B-NP +higher JJR I-NP +expected VBN I-NP +annual JJ I-NP +return NN I-NP +, , O +10.1 CD B-NP +% NN I-NP +vs. IN O +8.8 CD B-NP +% NN I-NP +, , O +as IN B-SBAR +calculated VBN B-VP +by IN B-PP +Seidman NNP B-NP +Financial NNP I-NP +Services NNPS I-NP +, , O +which WDT B-NP +is VBZ B-VP +the DT B-NP +financial-planning JJ I-NP +affiliate NN I-NP +of IN B-PP +BDO NNP B-NP +Seidman NNP I-NP +. . O + +That DT B-NP +largely RB B-VP +reflects VBZ I-VP +the DT B-NP +heavy JJ I-NP +stockholdings NNS I-NP +. . O + +But CC O +one CD B-NP +price NN I-NP +paid VBN B-VP +for IN B-PP +the DT B-NP +higher JJR I-NP +expected VBN I-NP +return NN I-NP +is VBZ B-VP +greater RBR B-NP +short-term JJ I-NP +volatility NN I-NP +, , O +as IN B-SBAR +reflected VBN B-VP +in IN B-PP +the DT B-NP +higher JJR I-NP +standard JJ I-NP +deviation NN I-NP +that IN B-NP +Seidman NNP B-NP +estimates NNS B-VP +for IN B-PP +the DT B-NP +younger JJR I-NP +couple NN I-NP +'s POS B-NP +portfolio NN I-NP +. . O + +-LRB- ( O +Here RB B-ADVP +'s POS B-VP +how WRB B-ADVP +to TO B-VP +interpret VB I-VP +a DT B-NP +standard JJ I-NP +deviation NN I-NP +figure NN I-NP +: : O +Take VB B-VP +the DT B-NP +expected VBN I-NP +return NN I-NP +and CC O +add VB B-VP +one CD B-NP +standard JJ I-NP +deviation NN I-NP +to TO B-PP +it PRP B-NP +. . O + +Then RB O +take VB B-VP +the DT B-NP +expected VBN I-NP +return NN I-NP +and CC O +subtract VB B-VP +one CD B-NP +standard JJ I-NP +deviation NN I-NP +. . O + +In IN B-PP +two CD B-NP +of IN I-NP +three CD I-NP +years NNS I-NP +, , O +the DT B-NP +actual JJ I-NP +result NN I-NP +should MD B-VP +fall VB I-VP +within IN B-PP +that DT B-NP +range NN I-NP +if IN B-SBAR +all PDT B-NP +the DT I-NP +assumptions NNS I-NP +were VBD B-VP +accurate JJ B-ADJP +. . O + +Then RB O +add VB B-VP +and CC I-VP +subtract VB I-VP +two CD B-NP +standard JJ I-NP +deviations NNS I-NP +to TO B-VP +get VB I-VP +a DT B-NP +wider JJR I-NP +range NN I-NP +. . O + +There EX B-NP +'s VBZ B-VP +a DT B-NP +95 CD I-NP +% NN I-NP +probability NN I-NP +any DT B-NP +year NN I-NP +'s POS B-NP +result NN I-NP +will MD B-VP +fall VB I-VP +in IN B-PP +the DT B-NP +range NN I-NP +. . O +-RRB- ) O + +Of IN B-PP +course NN B-NP +, , O +the DT B-NP +greater JJR I-NP +volatility NN I-NP +of IN B-PP +the DT B-NP +younger JJR I-NP +couple NN I-NP +'s POS B-NP +portfolio NN I-NP +does VBZ B-VP +n't RB I-VP +necessarily RB I-VP +mean VB I-VP +those DT B-NP +investments NNS I-NP +are VBP B-VP +riskier JJR B-ADJP +in IN B-PP +terms NNS B-NP +of IN B-PP +meeting VBG B-VP +the DT B-NP +holders NNS I-NP +' POS B-NP +long-term JJ I-NP +goals NNS I-NP +. . O + +Indeed RB B-ADVP +, , O +the DT B-NP +older JJR I-NP +couple NN I-NP +'s POS B-NP +portfolio NN I-NP +could MD B-VP +actually RB I-VP +be VB I-VP +riskier JJR B-ADJP +in IN B-PP +that DT B-NP +sense NN I-NP +if IN B-SBAR +the DT B-NP +expected VBN I-NP +return NN I-NP +wo MD B-VP +n't RB I-VP +generate VB I-VP +enough JJ B-NP +dollars NNS I-NP +to TO B-VP +meet VB I-VP +their PRP$ B-NP +spending NN I-NP +plans NNS I-NP +. . O + +`` `` O +They PRP B-NP +may MD B-VP +feel VB I-VP +emotionally RB B-ADJP +secure VB I-ADJP +now RB B-ADVP +because IN B-SBAR +they PRP B-NP +are VBP B-VP +not RB O +heavily RB B-ADVP +in IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +, , O +'' '' O +says VBZ B-VP +John NNP B-NP +H. NNP I-NP +Cammack NNP I-NP +, , O +a DT B-NP +financial JJ I-NP +planner NN I-NP +with IN B-PP +Alexandra NNP B-NP +Armstrong NNP I-NP +Advisors NNP I-NP +Inc. NNP I-NP +in IN B-PP +Washington NNP B-NP +. . O + +`` `` O +But CC O +they PRP B-NP +may MD B-VP +pay VB I-VP +a DT B-NP +price NN I-NP +10 CD B-NP +or CC I-NP +20 CD I-NP +years NNS I-NP +in IN B-PP +the DT B-NP +future NN I-NP +. . O +'' '' O + +Ms. NNP B-NP +Slater NNP I-NP +reports NNS B-VP +on IN B-PP +personal JJ B-NP +finance NN I-NP +from IN B-PP +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +'s POS B-NP +New NNP I-NP +York NNP I-NP +bureau NN I-NP +. . O + +When WRB B-ADVP +it PRP B-NP +comes VBZ B-VP +to TO B-PP +investing VBG B-NP +, , O +trying VBG B-VP +to TO I-VP +weigh VB I-VP +risk NN B-NP +and CC I-NP +reward NN I-NP +can MD B-VP +seem VB I-VP +like IN B-PP +throwing VBG B-VP +darts NN B-NP +blindfolded VBN B-ADVP +: : O +Investors NNS B-NP +do VBP B-VP +n't RB I-VP +know VB I-VP +the DT B-NP +actual JJ I-NP +returns NNS I-NP +that IN B-NP +securities NNS B-NP +will MD B-VP +deliver VB I-VP +, , O +or CC O +the DT B-NP +ups NNS I-NP +and CC I-NP +downs NNS I-NP +that WDT B-NP +will MD B-VP +occur VB I-VP +along IN B-PP +the DT B-NP +way NN I-NP +. . O + +Looking VBG B-VP +to TO B-PP +the DT B-NP +past NN I-NP +can MD B-VP +provide VB I-VP +some DT B-NP +clues NNS I-NP +. . O + +Over IN B-PP +several JJ B-NP +decades NNS I-NP +, , O +for IN B-PP +instance NN B-NP +, , O +investors NNS B-NP +who WP B-NP +put VBP B-VP +up IN B-PRT +with IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +'s POS B-NP +gyrations NNS I-NP +earned VBD B-VP +returns NNS B-NP +far RB B-ADVP +in IN B-PP +excess NN B-NP +of IN B-PP +those DT B-NP +on IN B-PP +bonds NNS B-NP +and CC O +`` `` B-NP +cash NN I-NP +'' '' I-NP +investments NNS I-NP +like IN B-PP +Treasury NNP B-NP +bills NNS I-NP +. . O + +But CC O +while IN B-SBAR +history NN B-NP +can MD B-VP +suggest VB I-VP +what WP B-NP +is VBZ B-VP +reasonable JJ B-ADJP +to TO B-VP +expect VB I-VP +there EX B-NP +'s VBZ B-VP +no DT B-NP +guarantee NN I-NP +that IN B-SBAR +the DT B-NP +past NN I-NP +will MD B-VP +repeat VB I-VP +itself PRP B-NP +. . O + +For IN B-PP +instance NN B-NP +, , O +some DT B-NP +analysts NNS I-NP +believe VBP B-VP +bond NN B-NP +returns NNS I-NP +and CC I-NP +volatility NN I-NP +have VBP B-VP +moved VBN I-VP +permanently RB B-ADJP +closer JJR I-ADJP +to TO B-PP +those DT B-NP +of IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +. . O + +And CC O +returns NNS B-NP +on IN B-PP +cash NN B-NP +investments NNS I-NP +may MD B-VP +continue VB I-VP +to TO I-VP +exceed VB I-VP +inflation NN B-NP +by IN B-PP +a DT B-NP +wider JJR I-NP +margin NN I-NP +than IN B-SBAR +they PRP B-NP +did VBD B-VP +over IN B-PP +the DT B-NP +long-term JJ I-NP +past NN I-NP +. . O + +Portfolio NNP B-NP +A DT I-NP +: : O +Retired NNP B-NP +couple NN I-NP +, , O +age NN B-NP +65 CD I-NP +; : O +$ $ B-NP +400,000 CD I-NP +portfolio NN I-NP +. . O + +Portfolio NNP B-NP +B NNP I-NP +: : O +Two-income NN B-NP +couple NN I-NP +, , O +age NN B-NP +45 CD I-NP +; : O +$ $ B-NP +150,000 CD I-NP +portfolio NN I-NP +. . O + +A DT B-NP +letter NN I-NP +from IN B-PP +Senator NNP B-NP +John NNP I-NP +Kerry NNP I-NP +chides VBZ B-VP +us PRP B-NP +today NN B-NP +for IN B-PP +implying VBG B-VP +that IN B-SBAR +he PRP B-NP +had VBD B-VP +`` `` I-VP +flip-flopped JJ I-VP +'' '' O +on IN B-PP +Manuel NNP B-NP +Noriega NNP I-NP +. . O + +He PRP B-NP +correctly RB B-VP +says VBZ I-VP +he PRP B-NP +has VBZ B-VP +been VBN I-VP +down RB B-ADJP +on IN B-PP +Noriega NNP B-NP +for IN B-PP +some DT B-NP +time NN I-NP +, , O +hence RB B-ADVP +his PRP$ B-NP +criticism NN I-NP +of IN B-PP +administration NN B-NP +mishandling VBG I-NP +of IN B-PP +the DT B-NP +attempted VBN I-NP +coup NN I-NP +. . O + +Our PRP$ B-NP +October NNP I-NP +12 CD I-NP +editorial NN I-NP +should MD B-VP +have VB I-VP +been VBN I-VP +more RBR B-ADJP +precise JJ I-ADJP +. . O + +It PRP B-NP +meant VBD B-VP +to TO I-VP +convey VB I-VP +our PRP$ B-NP +hope NN I-NP +that IN B-SBAR +the DT B-NP +Senator NNP I-NP +and CC O +other JJ B-NP +members NNS I-NP +of IN B-PP +the DT B-NP +congressional JJ I-NP +left VBN I-NP +are VBP B-VP +broadening VBG I-VP +their PRP$ B-NP +dislike NN I-NP +of IN B-PP +Noriega NNP B-NP +to TO B-VP +include VB I-VP +other JJ B-NP +notorious JJ I-NP +Central NNP I-NP +American JJ I-NP +drug NN I-NP +runners NNS I-NP +. . O + +The DT B-NP +Sandinistas NNPS I-NP +of IN B-PP +Nicaragua NNP B-NP +, , O +for IN B-PP +example NN B-NP +, , O +also RB B-ADVP +are VBP B-VP +part NN B-NP +of IN B-PP +the DT B-NP +Castro-Medellin NNP I-NP +cartel NN I-NP +nexus NN I-NP +. . O + +In IN B-PP +his PRP$ B-NP +letter NN I-NP +and CC B-PP +on IN B-PP +the DT B-NP +basis NN I-NP +of IN B-PP +his PRP$ B-NP +losing NN I-NP +vote NN I-NP +Tuesday NNP B-NP +against IN B-PP +U.S. NNP B-NP +aid NN I-NP +for IN B-PP +the DT B-NP +Nicaraguan JJ I-NP +opposition NN I-NP +, , O +Senator NNP B-NP +Kerry NNP I-NP +makes VBZ B-VP +clear JJ B-ADJP +he PRP B-NP +has VBZ B-VP +not RB I-VP +made VBN I-VP +that IN B-NP +intellectual JJ I-NP +leap NN I-NP +. . O + +We PRP B-NP +were VBD B-VP +wrong JJ B-ADJP +. . O + +THROUGHOUT IN B-PP +THE DT B-NP +1980s CD I-NP +, , O +investors NNS B-NP +have VBP B-VP +been VBN I-VP +looking VBG I-VP +for IN B-PP +creative JJ B-NP +alternatives NNS I-NP +to TO B-PP +traditional JJ B-NP +modes NNS I-NP +of IN B-PP +financial JJ B-NP +planning NN I-NP +. . O + +Capital NNP B-NP +has VBZ B-VP +been VBN I-VP +democratized VBN I-VP +, , O +and CC O +people NNS B-NP +want VBP B-VP +in RB B-PRT +. . O + +Too RB B-ADVP +often RB I-ADVP +, , O +however RB B-ADVP +, , O +small JJ B-NP +investors NNS I-NP +are VBP B-VP +left VBN I-VP +with IN B-PP +the DT B-NP +same JJ I-NP +stale JJ I-NP +solutions NNS I-NP +that WDT B-NP +appealed VBD B-VP +to TO B-PP +previous JJ B-NP +generations NNS I-NP +of IN B-PP +fiduciary JJ B-NP +strategists NNS I-NP +. . O + +Now RB B-ADVP +a DT B-NP +startling JJ I-NP +new JJ I-NP +approach NN I-NP +is VBZ B-VP +available JJ B-ADJP +to TO B-PP +building VBG B-VP +your PRP$ B-NP +financial JJ I-NP +portfolio NN I-NP +without IN B-PP +undue JJ B-NP +risk NN I-NP +, , O +without IN B-PP +extensive JJ B-NP +planning NN I-NP +and CC B-PP +without IN B-PP +hurting VBG B-VP +your PRP$ B-NP +life NN I-NP +style NN I-NP +one CD B-NP +bit NN I-NP +! . O + +This DT B-NP +is VBZ B-VP +particularly RB B-NP +good JJ I-NP +news NN I-NP +for IN B-PP +those DT B-NP +who WP B-NP +hate VBP B-VP +risk NN B-NP +, , O +who WP B-NP +are VBP B-VP +incapable NN B-ADJP +of IN B-PP +doing VBG B-VP +extensive JJ B-NP +amounts NNS I-NP +of IN B-PP +planning NN B-NP +and CC O +who WP B-NP +refuse VBP B-VP +to TO I-VP +see VB I-VP +their PRP$ B-NP +life NN I-NP +styles NNS I-NP +hurt VBN B-VP +in IN B-PP +any DT B-NP +way NN I-NP +. . O + +You PRP B-NP +know VBP B-VP +who WP B-NP +you PRP B-NP +are VBP B-VP +. . O + +My PRP$ B-NP +revolutionary JJ I-NP +system NN I-NP +is VBZ B-VP +also RB B-ADVP +useful JJ B-ADJP +for IN B-PP +those DT B-NP +who WP B-NP +have VBP B-VP +tried VBN I-VP +customary JJ B-NP +forms NNS I-NP +of IN B-PP +growing VBG B-VP +their PRP$ B-NP +currency NN I-NP +cushion NN I-NP +. . O + +Like IN B-PP +all DT B-NP +Americans NNPS I-NP +seeking VBG B-VP +chronic JJ B-NP +prosperity NN I-NP +, , O +I PRP B-NP +do VBP B-VP +find VB I-VP +it PRP B-NP +necessary JJ B-ADJP +to TO B-VP +plunge VB I-VP +certain JJ B-NP +funds NNS I-NP +into IN B-PP +conservative JJ B-NP +monetary JJ I-NP +tools NNS I-NP +, , O +if IN B-SBAR +only RB O +to TO B-VP +assuage VB I-VP +my PRP$ B-NP +father-in-law NN I-NP +, , O +who WP B-NP +believes VBZ B-VP +in IN B-PP +such JJ B-NP +things NNS I-NP +. . O + +So RB O +throughout IN B-PP +the DT B-NP +decade NN I-NP +I PRP B-NP +have VBP B-VP +maintained VBN I-VP +my PRP$ B-NP +share NN I-NP +of IN B-PP +individual JJ B-NP +retirement NN I-NP +accounts NNS I-NP +and CC O +CDs NNS B-NP +, , O +and CC O +tinkered VBN B-VP +with IN B-PP +stocks NNS B-NP +, , O +bonds NNS B-NP +and CC O +mutual JJ B-NP +funds NNS I-NP +, , O +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +preserving VBG B-VP +my PRP$ B-NP +necessary JJ I-NP +position NN I-NP +in IN B-PP +the DT B-NP +residential JJ I-NP +real-estate NN I-NP +market NN I-NP +. . O + +Return NN B-NP +on IN B-PP +this DT B-NP +fine JJ I-NP +portfolio NN I-NP +has VBZ B-VP +been VBN I-VP +modest JJ B-ADJP +when WRB B-ADVP +it PRP B-NP +has VBZ B-VP +not RB I-VP +been VBN I-VP +negative JJ B-ADJP +. . O + +Figure NN B-NP +1 CD I-NP +demonstrates VBZ B-VP +the DT B-NP +performance NN I-NP +of IN B-PP +those DT B-NP +businesses NNS I-NP +I PRP B-NP +'ve VBP B-VP +invested VBN I-VP +in IN B-PP +during IN B-PP +this DT B-NP +prosperous JJ I-NP +decade NN I-NP +-LRB- ( O +see VB B-VP +accompanying VBG B-NP +illustration NN I-NP +-- : O +WSJ NNP B-NP +Oct. NNP I-NP +20 CD I-NP +, , I-NP +1989 CD I-NP +-RRB- ) O +. . O + +Oil-related JJ B-NP +properties NNS I-NP +suffered VBD B-VP +a DT B-NP +huge JJ I-NP +decline NN I-NP +until IN B-SBAR +I PRP B-NP +divested VBD B-VP +myself PRP B-NP +of IN B-PP +all DT B-NP +such JJ I-NP +stocks NNS I-NP +in IN B-PP +1985 CD B-NP +, , O +at IN B-PP +which WDT B-NP +point VBP I-NP +the DT B-NP +industry NN I-NP +, , O +while IN B-SBAR +not RB O +lighting VBG B-VP +up IN B-PRT +any DT B-NP +Christmas NNP I-NP +trees NNS I-NP +, , O +began VBD B-VP +a DT B-NP +slow JJ I-NP +recovery NN I-NP +. . O + +Likewise RB B-ADVP +, , O +mutual JJ B-NP +funds NNS I-NP +remained VBD B-VP +relatively RB B-ADJP +flat JJ I-ADJP +until IN B-SBAR +I PRP B-NP +made VBD B-VP +what WP B-NP +was VBD B-VP +, , O +for IN B-PP +me PRP B-NP +, , O +a DT B-NP +serious JJ I-NP +investment NN I-NP +. . O + +By IN B-PP +1987 CD B-NP +, , O +these DT B-NP +properties NNS I-NP +were VBD B-VP +in IN B-PP +a DT B-NP +tailspin NN I-NP +, , O +causing VBG B-VP +my PRP$ B-NP +broker NN I-NP +at IN B-PP +Pru-Bache NNP B-NP +to TO B-VP +remark VB I-VP +that IN B-SBAR +she PRP B-NP +'d MD B-VP +`` `` O +never RB B-ADVP +seen VBN B-VP +anything NN B-NP +like IN B-PP +it PRP B-NP +. . O +'' '' O + +Concerned NNP B-ADJP +for IN B-PP +her PRP$ B-NP +state NN I-NP +of IN B-PP +mind NN B-NP +, , O +I PRP B-NP +dropped VBD B-VP +them PRP B-NP +-- : O +and CC O +the DT B-NP +market NN I-NP +instantly RB B-ADVP +began VBD B-VP +its PRP$ B-NP +steady JJ I-NP +climb NN I-NP +back RB B-ADVP +to TO B-PP +health NN B-NP +. . O + +Perhaps RB B-ADVP +most RBS B-ADJP +dramatic JJ I-ADJP +was VBD B-VP +the DT B-NP +performance NN I-NP +of IN B-PP +the DT B-NP +metropolitan JJ I-NP +New NNP I-NP +York NNP I-NP +real-estate NN I-NP +market NN I-NP +, , O +which WDT B-NP +was VBD B-VP +booming JJ I-VP +until IN B-SBAR +I PRP B-NP +entered VBD B-VP +it PRP B-NP +in IN B-PP +late JJ B-NP +1988 CD I-NP +, , O +at IN B-PP +which WDT B-NP +time NN I-NP +it PRP B-NP +posted VBD B-VP +the DT B-NP +first JJ I-NP +negative JJ I-NP +compound NN I-NP +annual JJ I-NP +growth NN I-NP +rate NN I-NP +in IN B-PP +years NNS B-NP +. . O + +Disgusted VBN B-ADJP +, , O +I PRP B-NP +cast VBP B-VP +around IN B-PRT +for IN B-PP +a DT B-NP +different JJ I-NP +way NN I-NP +to TO B-VP +plan VB I-VP +my PRP$ B-NP +asset NN I-NP +distribution NN I-NP +, , O +and CC O +with IN B-PP +hardly RB B-NP +any DT I-NP +heavy JJ I-NP +breathing VBG I-NP +the DT B-NP +answer NN I-NP +struck VBD B-VP +me PRP B-NP +: : O +I PRP B-NP +was VBD B-VP +doing VBG I-VP +it PRP B-NP +already RB B-ADVP +! . O + +We PRP B-NP +'ve VBP B-VP +all DT O +got VBN B-VP +money NN B-NP +to TO B-VP +spend VB I-VP +, , O +some DT B-NP +of IN B-PP +it PRP B-NP +clearly RB B-ADJP +disposable JJ I-ADJP +since IN B-SBAR +we PRP B-NP +keep VBP B-VP +disposing VBG I-VP +of IN B-PP +it PRP B-NP +. . O + +Bank NNP B-VP +it PRP B-NP +? . O + +Not RB B-ADVP +really RB I-ADVP +! . O + +Sock VB B-VP +it PRP B-NP +away RB B-ADVP +in IN B-PP +long-term JJ B-NP +instruments NNS I-NP +? . O + +Nonsense NN B-NP +! . O + +Daily NNP B-NP +living VBG I-NP +is VBZ B-VP +the DT B-NP +best JJS I-NP +possible JJ I-NP +investment NN I-NP +! . O + +Your PRP$ B-NP +priorities NNS I-NP +may MD B-VP +be VB I-VP +different JJ B-ADJP +, , O +but CC O +here RB B-ADVP +in IN B-PP +Figure NN B-NP +2 CD I-NP +is VBZ B-VP +where WRB B-ADVP +I PRP B-NP +'ve VBP B-VP +chosen VBN I-VP +to TO I-VP +build VB I-VP +for IN B-PP +the DT B-NP +future NN I-NP +: : O +personal JJ B-NP +space NN I-NP +; : O +automotive JJ B-NP +pursuits NNS I-NP +; : O +children NNS B-NP +'s POS B-NP +toys NNS I-NP +; : O +gardening NN B-NP +equipment NN I-NP +, , O +bulbs NNS B-NP +and CC I-NP +shrubs NNS I-NP +; : O +and CC O +finally RB B-ADVP +, , O +entertainment NN B-NP +, , O +perhaps RB B-ADVP +the DT B-NP +best JJS I-NP +investment NN I-NP +of IN B-PP +all DT B-NP +. . O + +All DT B-NP +have NN B-VP +paid VBN I-VP +off IN B-PRT +for IN B-PP +me PRP B-NP +in IN B-PP +double-digit JJ B-NP +annual JJ I-NP +growth NN I-NP +and CC O +continue VB B-VP +to TO I-VP +provide VB I-VP +significant JJ B-NP +potential NN I-NP +. . O + +At IN B-ADVP +least JJS I-ADVP +, , O +according VBG B-PP +to TO B-PP +my PRP$ B-NP +calculations NNS I-NP +. . O + +Personal JJ B-NP +space NN I-NP +-LRB- ( O +Figure NN B-NP +3 CD I-NP +-RRB- ) O +has VBZ B-VP +grown VBN I-VP +35 CD B-NP +% NN I-NP +annually RB B-ADVP +over IN B-PP +the DT B-NP +course NN I-NP +of IN B-PP +the DT B-NP +decade NN I-NP +, , O +a DT B-NP +performance NN I-NP +that WDT B-NP +would MD B-VP +compare VB I-VP +positively RB B-ADVP +with IN B-PP +an DT B-NP +investment NN I-NP +in IN B-PP +, , O +say VBP B-ADVP +, , O +synthetic-leather JJ B-NP +products NNS I-NP +for IN B-PP +the DT B-NP +interiors NNS I-NP +of IN B-PP +cold-weather JJ B-NP +vehicles NNS I-NP +, , O +which WDT B-NP +my PRP$ B-NP +cousin NN I-NP +got VBD B-VP +into IN B-PP +and CC O +sort NN B-VP +of IN I-VP +regrets VBZ I-VP +to TO B-PP +this DT B-NP +day NN I-NP +. . O + +The DT B-NP +assortment NN I-NP +of IN B-PP +expensive JJ B-NP +children NNS I-NP +'s POS B-NP +toys NNS I-NP +that IN B-NP +I PRP B-NP +have VBP B-VP +purchased VBN I-VP +wisely RB B-ADVP +at IN B-PP +a DT B-NP +host NN I-NP +of IN B-PP +discount-toy JJ B-NP +brokerage NN I-NP +firms NNS I-NP +-LRB- ( O +Figure NN B-NP +4 CD I-NP +-RRB- ) O +has VBZ B-VP +increased VBN I-VP +handsomely RB B-ADVP +in IN B-PP +total JJ B-NP +asset NN I-NP +value NN I-NP +far RB B-ADVP +beyond IN B-PP +any DT B-NP +personal JJ I-NP +investment NN I-NP +except IN B-PP +, , O +perhaps RB B-ADVP +, , O +for IN B-PP +my PRP$ B-NP +record NN I-NP +collection NN I-NP +, , O +whose WP$ B-NP +worth JJ I-NP +, , O +I PRP B-NP +think VBP B-VP +it PRP B-NP +'s VBZ B-VP +safe JJ B-ADJP +to TO B-VP +say VB I-VP +, , O +is VBZ B-VP +incalculable JJ B-ADJP +. . O + +Continued VBN B-NP +investment NN I-NP +in IN B-PP +my PRP$ B-NP +1984 CD I-NP +subcompact NN I-NP +has VBZ B-VP +been VBN I-VP +part NN B-NP +of IN B-PP +my PRP$ B-NP +strategy NN I-NP +-LRB- ( O +Figure NN B-NP +5 NN I-NP +-RRB- ) O +, , O +with IN B-PP +present JJ B-NP +annual JJ I-NP +contributions NNS I-NP +now RB B-ADVP +equaling VBG B-VP +more JJR B-NP +than IN I-NP +60 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +car NN I-NP +'s POS B-NP +original JJ I-NP +value NN I-NP +. . O + +According VBG B-PP +to TO B-PP +my PRP$ B-NP +calculations NNS I-NP +, , O +these DT B-NP +outlays NNS I-NP +should MD B-VP +have VB I-VP +brought VBN I-VP +the DT B-NP +value NN I-NP +of IN B-PP +my PRP$ B-NP +sedan NN I-NP +to TO B-PP +more JJR B-NP +than IN I-NP +$ $ I-NP +22,000 CD I-NP +on IN B-PP +the DT B-NP +open JJ I-NP +market NN I-NP +-LRB- ( O +Figure NN B-NP +6 CD I-NP +-RRB- ) O +, , O +where WRB B-ADVP +I PRP B-NP +plan VBP B-VP +to TO I-VP +offer VB I-VP +it PRP B-NP +shortly RB B-ADVP +. . O + +Expansion NN B-NP +of IN B-PP +my PRP$ B-NP +living NN I-NP +space NN I-NP +has VBZ B-VP +produced VBN I-VP +an DT B-NP +obvious JJ I-NP +need NN I-NP +for IN B-PP +maintenance NN B-NP +and CC I-NP +construction NN I-NP +of IN B-PP +suitable JJ B-NP +lawns NNS I-NP +, , I-NP +shrubs NNS I-NP +and CC I-NP +bushes NNS I-NP +fitting JJ B-ADJP +to TO B-PP +its PRP$ B-NP +suburban JJ I-NP +locale NN I-NP +. . O + +I PRP B-NP +have VBP B-VP +thus RB I-VP +committed VBN I-VP +sufficient JJ B-NP +personal JJ I-NP +outlay NN I-NP +to TO B-VP +ensure VB I-VP +that IN B-SBAR +my PRP$ B-NP +grounds NNS I-NP +and CC I-NP +lodgings NNS I-NP +will MD B-VP +never RB I-VP +be VB I-VP +short NN B-ADJP +of IN B-PP +greens NNS B-NP +and CC I-NP +flowers NNS I-NP +. . O + +My PRP$ B-NP +initial JJ I-NP +stake NN I-NP +in IN B-PP +this DT B-NP +blooming VBG I-NP +enterprise NN I-NP +has VBZ B-VP +grown VBN I-VP +tenfold RB B-ADVP +, , O +according VBG B-PP +to TO B-PP +my PRP$ B-NP +conservative JJ I-NP +calculations NNS I-NP +. . O + +At IN B-PP +the DT B-NP +same JJ I-NP +time NN I-NP +, , O +my PRP$ B-NP +share NN I-NP +in IN B-PP +a DT B-NP +wide JJ I-NP +variety NN I-NP +of IN B-PP +entertainment NN B-NP +pursuits NNS I-NP +has VBZ B-VP +given VBN I-VP +perhaps RB B-NP +the DT I-NP +most RBS I-NP +dramatic JJ I-NP +demonstration NN I-NP +of IN B-PP +the DT B-NP +benefits NNS I-NP +of IN B-PP +creative JJ B-NP +personal JJ I-NP +financial JJ I-NP +planning NN I-NP +. . O + +Over IN B-PP +the DT B-NP +course NN I-NP +of IN B-PP +the DT B-NP +decade NN I-NP +, , O +for IN B-PP +instance NN B-NP +, , O +my PRP$ B-NP +return NN I-NP +on IN B-PP +investment NN B-NP +in IN B-PP +the DT B-NP +area NN I-NP +of IN B-PP +poker NN B-NP +alone RB B-ADVP +-LRB- ( O +Figures NNS B-NP +7A CD I-NP +and CC I-NP +7B CD I-NP +-RRB- ) O +has VBZ B-VP +been VBN I-VP +most RBS B-ADJP +impressive JJ I-ADJP +, , O +showing VBG B-VP +bodacious JJ B-NP +annual JJ I-NP +expansion NN I-NP +with IN B-PP +-- : O +given VBN B-PP +the DT B-NP +way NN I-NP +my PRP$ B-NP +associates NNS I-NP +play VBP B-VP +-- : O +no DT B-NP +sign NN I-NP +of IN B-PP +abatement NN B-NP +into IN B-PP +the DT B-NP +1990s CD I-NP +and CC O +beyond RB B-ADVP +. . O + +With IN B-PP +this DT B-NP +personal JJ I-NP +strategy NN I-NP +firmly RB B-ADVP +in IN B-PP +place NN B-NP +, , O +I PRP B-NP +look VBP B-VP +forward RB B-ADVP +to TO B-PP +years NNS B-NP +of IN B-PP +fine JJ B-NP +life-style NN I-NP +investments NNS I-NP +and CC O +increasing VBG B-NP +widespread JJ I-NP +leverage NN I-NP +. . O + +My PRP$ B-NP +kids NNS I-NP +' POS B-NP +college NN I-NP +education NN I-NP +looms VBZ B-VP +as IN B-PP +perhaps RB B-NP +the DT I-NP +greatest JJS I-NP +future NN I-NP +opportunity NN I-NP +for IN B-PP +spending NN B-NP +, , O +although IN B-SBAR +I PRP B-NP +'ll MD B-VP +probably RB I-VP +have VB I-VP +to TO I-VP +cash VB I-VP +in IN B-PRT +their PRP$ B-NP +toy NN I-NP +portfolio NN I-NP +to TO B-VP +take VB I-VP +advantage NN B-NP +of IN B-PP +it PRP B-NP +. . O + +But CC O +with IN B-PP +every DT B-NP +step NN I-NP +I PRP B-NP +take VBP B-VP +, , O +I PRP B-NP +'m VBP B-VP +building VBG I-VP +wealth NN B-NP +. . O + +You PRP B-NP +can MD B-VP +, , O +too RB B-ADVP +, , O +if IN B-SBAR +you PRP B-NP +, , O +like IN B-PP +me PRP B-NP +, , O +refuse VB B-VP +to TO I-VP +bite VB I-VP +the DT B-NP +bullet NN I-NP +. . O + +So RB O +go VB B-VP +out IN B-ADVP +there EX I-ADVP +and CC O +eat VB B-VP +that DT B-NP +debt NN I-NP +. . O + +You PRP B-NP +'re VBP B-VP +right NN B-NP +there RB I-NP +in IN B-PP +the DT B-NP +mainstream NN I-NP +of IN B-PP +American JJ B-NP +business NN I-NP +, , O +building NN B-VP +value NN B-NP +on IN B-PP +the DT B-NP +back RB I-NP +of IN B-PP +insupportable JJ B-NP +expenditures NNS I-NP +. . O + +Henry NNP B-NP +Kravis NNP I-NP +, , O +watch VB B-VP +out RB B-PRT +! . O + +Mr. NNP B-NP +Schwartz NNP I-NP +is VBZ B-VP +a DT B-NP +business NN I-NP +executive NN I-NP +and CC I-NP +writer NN I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +. . O + +WHEN WRB B-ADVP +JAMES NNP B-NP +SCHWARTZ NNP I-NP +was VBD B-VP +just RB B-NP +a DT I-NP +lad NN I-NP +his PRP$ B-NP +father NN I-NP +gave VBD B-VP +him PRP B-NP +a DT B-NP +piece NN I-NP +of IN B-PP +career NN B-NP +advice NN I-NP +. . O + +`` `` O +He PRP B-NP +told VBD B-VP +me PRP B-NP +to TO B-VP +choose VB I-VP +an DT B-NP +area NN I-NP +where WRB B-ADVP +just RB B-ADVP +by IN B-PP +being VBG B-VP +mediocre JJ B-ADJP +I PRP B-NP +could MD B-VP +be VB I-VP +great JJ B-ADJP +, , O +'' '' O +recalls VBZ B-VP +Mr. NNP B-NP +Schwartz NNP I-NP +, , O +now RB B-ADVP +40 CD B-NP +. . O + +He PRP B-NP +tried VBD B-VP +management NN B-NP +consulting NN I-NP +, , O +traded VBN B-VP +in IN B-PP +turquoise JJ B-NP +for IN B-PP +a DT B-NP +while NN I-NP +, , O +and CC O +even RB B-ADVP +managed VBD B-VP +professional JJ B-NP +wrestlers NNS I-NP +. . O + +Now RB B-ADVP +he PRP B-NP +has VBZ B-VP +settled VBN I-VP +into IN B-PP +a DT B-NP +career NN I-NP +that WDT B-NP +fits VBZ B-VP +the DT B-NP +bill NN I-NP +-- : O +financial JJ B-NP +planning NN I-NP +. . O + +It PRP B-NP +should MD B-VP +be VB I-VP +noted VBN I-VP +that IN B-SBAR +Mr. NNP B-NP +Schwartz NNP I-NP +, , O +who WP B-NP +operates VBZ B-VP +out IN B-ADVP +of IN B-PP +Englewood NNP B-NP +, , O +Colo. NNP B-NP +, , O +is VBZ B-VP +a DT B-NP +puckish JJ I-NP +sort NN I-NP +who WP B-NP +likes VBZ B-VP +to TO I-VP +give VB I-VP +his PRP$ B-NP +colleagues NNS I-NP +the DT B-NP +needle NN I-NP +. . O + +But CC O +in IN B-PP +this DT B-NP +case NN I-NP +the DT B-NP +needle NN I-NP +has VBZ B-VP +a DT B-NP +very RB I-NP +sharp JJ I-NP +point NN I-NP +. . O + +Though IN B-SBAR +it PRP B-NP +'s VBZ B-VP +probably RB B-ADVP +safe JJ B-ADJP +to TO B-VP +assume VB I-VP +that IN B-SBAR +the DT B-NP +majority NN I-NP +of IN B-PP +financial JJ B-NP +planners NNS I-NP +are VBP B-VP +honest JJ B-ADJP +and CC B-ADJP +even RB I-ADJP +reasonably RB B-ADJP +competent JJ I-ADJP +, , O +the DT B-NP +fact NN I-NP +remains VBZ B-VP +that IN B-SBAR +, , O +as IN B-SBAR +one CD B-NP +wag NN I-NP +puts VBZ B-VP +it PRP B-NP +, , O +`` `` O +anybody NN B-NP +who WP B-NP +can MD B-VP +fog VB I-VP +a DT B-NP +mirror NN I-NP +'' '' O +can MD B-VP +call VB I-VP +himself PRP B-NP +a DT B-NP +financial JJ I-NP +planner NN I-NP +. . O + +Planners NNS B-NP +now JJ B-ADVP +influence NN B-VP +the DT B-NP +investment NN I-NP +of IN B-PP +several JJ B-NP +hundred CD I-NP +billion CD I-NP +dollars NNS I-NP +, , O +but CC O +in IN B-PP +effect NN B-NP +they PRP B-NP +operate VBP B-VP +in IN B-PP +the DT B-NP +dark NN I-NP +. . O + +There EX B-NP +is VBZ B-VP +no DT B-NP +effective JJ I-NP +regulation NN I-NP +of IN B-PP +planners NNS B-NP +, , O +no DT B-NP +accepted VBN I-NP +standard JJ I-NP +for IN B-PP +admission NN B-NP +into IN B-PP +their PRP$ B-NP +ranks NNS I-NP +-- : O +a DT B-NP +dog NN I-NP +got VBD B-VP +into IN B-PP +one CD B-NP +trade NN I-NP +group NN I-NP +-- : O +no DT B-NP +way NN I-NP +to TO B-VP +assess VB I-VP +their PRP$ B-NP +performance NN I-NP +, , O +no DT B-NP +way NN I-NP +even RB B-NP +to TO B-VP +know VB I-VP +how WRB B-NP +many NN I-NP +of IN B-PP +them PRP B-NP +there EX B-NP +are VBP B-VP +-LRB- ( O +estimates NNS B-NP +range VBP B-VP +from IN B-PP +60,000 CD B-NP +to TO B-PP +450,000 CD B-NP +-RRB- ) O +. . O + +All DT B-NP +anyone NN B-NP +need NN B-VP +do VBP I-VP +is VBZ B-VP +hang VB B-VP +up IN B-PRT +a DT B-NP +shingle NN I-NP +and CC O +start VB B-VP +planning NN I-VP +. . O + +So RB O +it PRP B-NP +should MD B-VP +come VB I-VP +as IN B-PP +no DT B-NP +shock NN I-NP +that IN B-SBAR +the DT B-NP +profession NN I-NP +, , O +if IN B-SBAR +that DT B-NP +'s VBZ B-VP +what WP B-NP +it PRP B-NP +is VBZ B-VP +, , O +has VBZ B-VP +attracted VBN I-VP +a DT B-NP +lot NN I-NP +of IN B-PP +people NNS B-NP +whose WP$ B-NP +principal JJ I-NP +talents NNS I-NP +seem VBP B-VP +to TO I-VP +be VB I-VP +frittering VBG B-VP +away RB B-PRT +or CC O +flat-out JJ B-VP +stealing VBG I-VP +their PRP$ B-NP +clients NNS I-NP +' POS B-NP +money NN I-NP +. . O + +Alarmed JJ B-ADJP +, , O +state NN B-NP +and CC I-NP +federal JJ I-NP +authorities NNS I-NP +are VBP B-VP +trying VBG I-VP +to TO I-VP +devise VB I-VP +ways NNS B-NP +to TO B-VP +certify VB I-VP +and CC I-VP +regulate VB I-VP +planners NNS B-NP +. . O + +Industry NN B-NP +groups NNS I-NP +and CC O +reputable JJ B-NP +planners NNS I-NP +who WP B-NP +are VBP B-VP +members NNS B-NP +of IN B-PP +them PRP B-NP +want VBP B-VP +comprehensive JJ B-NP +standards NNS I-NP +, , O +too RB B-ADVP +; : O +they PRP B-NP +'re VBP B-VP +tired VBN B-ADJP +of IN B-PP +seeing VBG B-VP +practitioners NNS B-NP +depicted VBN B-VP +collectively RB B-ADVP +in IN B-PP +the DT B-NP +business NN I-NP +press NN I-NP +as IN B-PP +dumber JJR B-ADJP +than IN B-PP +chimpanzees NNS B-NP +and CC O +greedier JJR B-ADJP +than IN B-PP +a DT B-NP +herd NN I-NP +of IN B-PP +swine NNS B-NP +. . O + +But CC O +reform NN B-NP +has VBZ B-VP +n't RB I-VP +taken VBN I-VP +hold VB B-NP +yet RB B-ADVP +. . O + +`` `` O +The DT B-NP +industry NN I-NP +is VBZ B-VP +still RB B-ADVP +pretty RB B-ADVP +much JJ I-ADVP +in IN B-PP +its PRP$ B-NP +Wild NNP I-NP +West NNP I-NP +days NNS I-NP +, , O +'' '' O +says VBZ B-VP +Scott NNP B-NP +Stapf NNP I-NP +, , O +director NN B-NP +of IN B-PP +investor NN B-NP +education NN I-NP +for IN B-PP +the DT B-NP +North NNP I-NP +American NNP I-NP +Securities NNPS I-NP +Administrators NNP I-NP +Association NNP I-NP +. . O + +An DT B-NP +admittedly RB I-NP +limited JJ I-NP +survey NN I-NP +by IN B-PP +NASAA NNP B-NP +, , O +whose WP$ B-NP +members NNS I-NP +are VBP B-VP +state NN B-NP +securities-law NN I-NP +regulators NNS I-NP +, , O +found VBD B-VP +that IN B-SBAR +between IN B-PP +1986 CD B-NP +and CC I-NP +1988 CD I-NP +`` `` O +fraud NN B-NP +and CC I-NP +abuse NN I-NP +'' '' O +by IN B-PP +financial JJ B-NP +planners NNS I-NP +cost VBP B-VP +22,000 CD B-NP +investors NNS I-NP +$ $ B-NP +400 CD I-NP +million CD I-NP +. . O + +The DT B-NP +rogues NNS I-NP +' POS B-NP +gallery NN I-NP +of IN B-PP +planners NNS B-NP +involved VBN B-VP +includes VBZ B-VP +some DT B-NP +convicted VBN I-NP +felons NNS I-NP +, , O +a DT B-NP +compulsive JJ I-NP +gambler NN I-NP +or CC I-NP +two CD I-NP +, , O +various JJ B-NP +businessmen NNS I-NP +who WP B-NP +had VBD B-VP +planned VBN I-VP +their PRP$ B-NP +own JJ I-NP +previous JJ I-NP +ventures NNS I-NP +right NN B-ADVP +into IN B-PP +bankruptcy NN B-NP +, , O +and CC O +one CD B-NP +man NN I-NP +who WP B-NP +scammed VBD B-VP +his PRP$ B-NP +wife NN I-NP +'s POS B-NP +grandmother NN I-NP +. . O + +What WP B-NP +'s VBZ B-VP +more JJR B-NP +, , O +the DT B-NP +losses NNS I-NP +they PRP B-NP +and CC O +the DT B-NP +others NNS I-NP +caused VBN B-VP +`` `` O +are VBP B-VP +just RB B-ADVP +what WP B-NP +we PRP B-NP +are VBP B-VP +stumbling VBG I-VP +over IN B-PP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Stapf NNP I-NP +, , O +adding VBG B-VP +that IN B-SBAR +the DT B-NP +majority NN I-NP +of IN B-PP +misdeeds NNS B-NP +probably RB B-ADVP +go VBP B-VP +undetected JJ B-ADJP +. . O + +So RB B-ADVP +do VBP B-VP +just RB B-NP +about IN I-NP +all PDT I-NP +the DT I-NP +losses NNS I-NP +that WDT B-NP +could MD B-VP +be VB I-VP +attributed VBN I-VP +to TO B-PP +the DT B-NP +sheer JJ I-NP +incompetence NN I-NP +of IN B-PP +unqualified JJ B-NP +planners NNS I-NP +. . O + +Nobody NN B-NP +can MD B-VP +estimate VB I-VP +the DT B-NP +toll NN I-NP +, , O +but CC O +John NNP B-NP +Gargan NNP I-NP +, , O +a DT B-NP +Tampa NNP I-NP +, , I-NP +Fla. NNP I-NP +, , I-NP +planner NN I-NP +and CC O +head NN B-NP +of IN B-PP +one CD B-NP +trade NN I-NP +group NN I-NP +, , O +the DT B-NP +International NNP I-NP +Association NNP I-NP +of IN B-PP +Registered VBN B-NP +Financial NNP I-NP +Planners NNS I-NP +, , O +thinks VBZ B-VP +the DT B-NP +danger NN I-NP +to TO B-PP +investors NNS B-NP +from IN B-PP +incompetence NN B-NP +is VBZ B-VP +`` `` O +humongous JJ B-ADJP +, , O +'' '' O +far RB B-ADJP +greater JJR I-ADJP +than IN B-PP +that DT B-NP +from IN B-PP +crookery NN B-NP +. . O + +His PRP$ B-NP +group NN I-NP +, , O +like IN B-PP +others NNS B-NP +, , O +wants VBZ B-VP +minimum JJ B-NP +standards NNS I-NP +applied VBN B-VP +to TO B-PP +all DT B-NP +who WP B-NP +call VBP B-VP +themselves PRP B-NP +financial JJ B-NP +planners NNS I-NP +. . O + +Surveying VBG B-VP +all PDT B-NP +this DT I-NP +, , O +some DT B-NP +people NNS I-NP +now RB B-ADVP +think VBP B-VP +the DT B-NP +best JJS I-NP +planner NN I-NP +might MD B-VP +be VB I-VP +no DT B-NP +planner NN I-NP +at IN B-ADVP +all DT I-ADVP +. . O + +For IN B-PP +most RBS B-NP +investors NNS I-NP +`` `` O +the DT B-NP +benefits NNS I-NP +just RB B-ADVP +are VBP B-VP +n't RB O +worth JJ B-ADJP +the DT B-NP +risks NNS I-NP +, , O +'' '' O +says VBZ B-VP +Barbara NNP B-NP +Roper NNP I-NP +, , O +who WP B-NP +follows VBZ B-VP +financial-planning JJ B-NP +issues NNS I-NP +for IN B-PP +the DT B-NP +Consumer NNP I-NP +Federation NNP I-NP +of IN B-PP +America NNP B-NP +, , O +a DT B-NP +consumer-advocacy JJ I-NP +organization NN I-NP +based VBN B-VP +in IN B-PP +Washington NNP B-NP +. . O + +She PRP B-NP +concedes VBZ B-VP +that IN B-SBAR +such JJ B-NP +a DT I-NP +position NN I-NP +is VBZ B-VP +`` `` B-ADJP +unfair JJ I-ADJP +'' '' O +to TO B-PP +the DT B-NP +thousands NNS I-NP +of IN B-PP +conscientious JJ B-NP +and CC I-NP +qualified VBN I-NP +people NNS I-NP +plying VBG B-VP +the DT B-NP +trade NN I-NP +, , O +but CC O +as IN B-PP +a DT B-NP +consumer NN I-NP +advocate NN I-NP +she PRP B-NP +feels VBZ B-VP +impelled VBN I-VP +to TO I-VP +take VB I-VP +it PRP B-NP +. . O + +She PRP B-NP +says VBZ B-VP +her PRP$ B-NP +group NN I-NP +used VBN B-VP +to TO I-VP +give VB I-VP +tips NNS B-NP +on IN B-PP +selecting VBG B-VP +planners NNS B-NP +-- : O +check NN B-VP +educational JJ B-NP +and CC I-NP +experience NN I-NP +credentials NNS I-NP +, , O +consult VB B-VP +regulators NNS B-NP +and CC O +Better NNP B-NP +Business NNP I-NP +Bureaus NNP I-NP +-- : O +but CC O +found VBD B-VP +that IN B-SBAR +even RB B-NP +some DT I-NP +people NNS I-NP +who WP B-NP +took VBD B-VP +these DT B-NP +steps NNS I-NP +`` `` O +were VBD B-VP +still RB I-VP +getting VBG I-VP +ripped VBN I-VP +off IN B-PRT +. . O +'' '' O + +The DT B-NP +bad JJ I-NP +news NN I-NP +, , O +however RB B-ADVP +, , O +has VBZ B-VP +n't RB I-VP +been VBN I-VP +bad JJ B-ADJP +enough RB I-ADJP +to TO B-VP +kill VB I-VP +the DT B-NP +growing VBG I-NP +demand NN I-NP +for IN B-PP +financial JJ B-NP +planning NN I-NP +. . O + +The DT B-NP +Tax NNP I-NP +Reform NNP I-NP +Act NNP I-NP +of IN B-PP +1986 CD B-NP +, , O +which WDT B-NP +eliminated VBD B-VP +many JJ B-NP +tax NN I-NP +shelters NNS I-NP +peddled VBN B-VP +by IN B-PP +planners NNS B-NP +, , O +and CC O +the DT B-NP +stock NN I-NP +market NN I-NP +crash NN I-NP +the DT B-NP +next JJ I-NP +year NN I-NP +did VBD B-VP +cause VBG I-VP +a DT B-NP +sharp JJ I-NP +slump NN I-NP +in IN B-PP +such JJ B-NP +demand NN I-NP +, , O +and CC O +many JJ B-NP +planners NNS I-NP +had VBD B-VP +to TO I-VP +make VB I-VP +an DT B-NP +unplanned JJ I-NP +exit NN I-NP +from IN B-PP +the DT B-NP +business NN I-NP +. . O + +But CC O +membership NN B-NP +in IN B-PP +the DT B-NP +International NNP I-NP +Association NNP I-NP +of IN B-PP +Financial NNP B-NP +Planners NNS I-NP +-LRB- ( O +IAFP NNP B-NP +-RRB- ) O +, , O +the DT B-NP +industry NN I-NP +'s POS B-NP +biggest JJS I-NP +trade NN I-NP +group NN I-NP +, , O +is VBZ B-VP +still RB B-ADVP +nearly RB B-ADVP +triple JJ I-ADVP +what WP B-NP +it PRP B-NP +was VBD B-VP +in IN B-PP +1980 CD B-NP +, , O +and CC O +it PRP B-NP +'s VBZ B-VP +believed VBD I-VP +that IN B-SBAR +the DT B-NP +ranks NNS I-NP +of IN B-PP +planners NNS B-NP +who WP B-NP +do VBP B-VP +n't RB I-VP +belong VB I-VP +to TO B-PP +any DT B-NP +group NN I-NP +have VBP B-VP +soared VBN I-VP +as IN B-ADVP +well RB I-ADVP +. . O + +An DT B-NP +estimated VBN I-NP +10 CD I-NP +million CD I-NP +Americans NNPS I-NP +are VBP B-VP +now RB I-VP +using VBG I-VP +financial JJ B-NP +planners NNS I-NP +, , O +and CC O +the DT B-NP +pool NN I-NP +of IN B-PP +capital NN B-NP +they PRP B-NP +influence VBP B-VP +is VBZ B-VP +enormous JJ B-ADJP +. . O + +A DT B-NP +survey NN I-NP +of IN B-PP +54,000 CD B-NP +of IN B-PP +them PRP B-NP +conducted VBN B-VP +by IN B-PP +the DT B-NP +IAFP NNP I-NP +in IN B-PP +April NNP B-NP +showed VBD B-VP +that IN B-SBAR +these DT B-NP +practitioners NNS I-NP +alone RB B-ADVP +had VBD B-VP +controlled VBN I-VP +or CC I-VP +guided VBD I-VP +the DT B-NP +investment NN I-NP +of IN B-PP +$ $ B-NP +154 CD I-NP +billion CD I-NP +of IN B-PP +their PRP$ B-NP +clients NNS I-NP +' POS B-NP +money NN I-NP +in IN B-PP +the DT B-NP +previous JJ I-NP +12 CD I-NP +months NNS I-NP +. . O + +The DT B-NP +sheer JJ I-NP +number NN I-NP +of IN B-PP +planners NNS B-NP +makes VBZ B-VP +the DT B-NP +business NN I-NP +extremely RB B-ADJP +difficult JJ I-ADJP +, , O +if IN B-CONJP +not RB I-CONJP +impossible JJ B-ADJP +, , O +to TO B-VP +regulate VB I-VP +. . O + +Even RB B-NP +the DT I-NP +minority NN I-NP +of IN B-PP +them PRP B-NP +who WP B-NP +must MD B-VP +register VB I-VP +with IN B-PP +the DT B-NP +Securities NNP I-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +as IN B-PP +`` `` O +investment NN B-NP +advisers NNS I-NP +'' '' O +-- : O +people NNS B-NP +who WP B-NP +are VBP B-VP +in IN B-PP +the DT B-NP +business NN I-NP +of IN B-PP +counseling NN B-VP +others NNS B-NP +on IN B-PP +the DT B-NP +buying VBG I-NP +and CC I-NP +selling VBG I-NP +of IN B-PP +securities NNS B-NP +specifically RB B-ADVP +-- : O +have VBP B-VP +been VBN I-VP +enough RB B-ADJP +to TO B-VP +swamp VB I-VP +the DT B-NP +agency NN I-NP +'s POS B-NP +capacity NN I-NP +. . O + +The DT B-NP +SEC NNP I-NP +has VBZ B-VP +only RB B-NP +about IN I-NP +200 CD I-NP +staffers NNS I-NP +assigned VBN B-VP +to TO I-VP +keep VB I-VP +tabs NNS B-NP +on IN B-PP +investment NN B-NP +advisers NNS I-NP +-- : O +about IN B-NP +the DT I-NP +same JJ I-NP +as IN B-PP +in IN B-PP +1980 CD B-NP +-- : O +even RB B-SBAR +though IN I-SBAR +the DT B-NP +number NN I-NP +of IN B-PP +advisers NNS B-NP +has VBZ B-VP +tripled VBN I-VP +to TO B-PP +about IN B-NP +15,000 CD I-NP +over IN B-PP +the DT B-NP +past JJ I-NP +decade NN I-NP +. . O + +Currently RB B-ADVP +, , O +a DT B-NP +registered VBN I-NP +investment NN I-NP +adviser NN I-NP +can MD B-VP +expect VB I-VP +an DT B-NP +SEC NNP I-NP +audit NN I-NP +only RB B-ADVP +once RB I-ADVP +every DT B-NP +12 CD I-NP +years NNS I-NP +. . O + +A DT B-NP +lot NN I-NP +of IN B-PP +bad JJ B-NP +things NNS I-NP +can MD B-VP +happen VB I-VP +in IN B-PP +12 CD B-NP +years NNS I-NP +. . O + +`` `` O +It PRP B-NP +does VBZ B-VP +n't RB I-VP +take VB I-VP +a DT B-NP +rocket NN I-NP +scientist NN I-NP +to TO B-VP +figure VB I-VP +out IN B-PRT +our PRP$ B-NP +problem NN I-NP +, , O +'' '' O +says VBZ B-VP +Kathryn NNP B-NP +McGrath NNP I-NP +, , O +director NN B-NP +of IN B-PP +the DT B-NP +SEC NNP I-NP +'s POS B-NP +division NN I-NP +of IN B-PP +investment NN B-NP +management NN I-NP +. . O + +So RB O +the DT B-NP +SEC NNP I-NP +has VBZ B-VP +proposed VBN I-VP +to TO B-PP +Congress NNP B-NP +that IN B-SBAR +much NN B-NP +of IN B-PP +the DT B-NP +job NN I-NP +of IN B-PP +oversight NN B-NP +be VB B-VP +turned VBN I-VP +over IN B-PRT +to TO B-PP +an DT B-NP +industry-funded JJ I-NP +, , I-NP +self-regulatory JJ I-NP +organization NN I-NP +patterned VBN B-VP +on IN B-PP +the DT B-NP +National NNP I-NP +Association NNP I-NP +of IN B-PP +Securities NNPS B-NP +Dealers NNS I-NP +, , O +which WDT B-NP +operates VBZ B-VP +in IN B-PP +the DT B-NP +brokerage NN I-NP +business NN I-NP +. . O + +Such JJ B-NP +an DT I-NP +organization NN I-NP +could MD B-VP +, , O +among IN B-PP +other JJ B-NP +things NNS I-NP +, , O +set VBN B-VP +minimum JJ B-NP +standards NNS I-NP +for IN B-PP +competence NN B-NP +, , I-NP +ethics NNS I-NP +and CC I-NP +finances NNS I-NP +and CC O +punish VB B-VP +those DT B-NP +investment NN I-NP +advisers NNS I-NP +who WP B-NP +broke VBD B-VP +the DT B-NP +rules NNS I-NP +. . O + +The DT B-NP +proposal NN I-NP +has VBZ B-VP +set VBN I-VP +off IN B-PRT +a DT B-NP +lively JJ I-NP +debate NN I-NP +within IN B-PP +an DT B-NP +industry NN I-NP +that WDT B-NP +was VBD B-VP +far RB B-ADJP +from IN B-PP +united VBN B-ADJP +to TO B-ADVP +begin VB I-ADVP +with RB I-ADVP +. . O + +Mr. NNP B-NP +Schwartz NNP I-NP +, , O +the DT B-NP +puckish JJ I-NP +planner NN I-NP +from IN B-PP +Englewood NNP B-NP +, , O +Colo. NNP B-NP +, , O +says VBZ B-VP +that IN B-SBAR +allowing VBG B-VP +the DT B-NP +business NN I-NP +to TO B-VP +police VB I-VP +itself PRP B-NP +would MD B-VP +be VB I-VP +`` `` O +like IN B-PP +putting VBG B-VP +Dracula NNP B-NP +in IN B-PP +charge NN B-NP +of IN B-PP +the DT B-NP +blood NN I-NP +bank NN I-NP +. . O +'' '' O + +Mr. NNP B-NP +Gargan NNP I-NP +, , O +the DT B-NP +Tampa NNP I-NP +planner NN I-NP +who WP B-NP +heads VBZ B-VP +one CD B-NP +trade NN I-NP +group NN I-NP +, , O +favors VBZ B-VP +simply RB B-ADVP +assessing VBG B-VP +the DT B-NP +industry NN I-NP +and CC O +giving VBG B-VP +the DT B-NP +money NN I-NP +to TO B-PP +the DT B-NP +SEC NNP I-NP +to TO B-VP +hire VB I-VP +more JJR B-NP +staff NN I-NP +. . O + +-LRB- ( O +Mr. NNP B-NP +Gargan NNP I-NP +'s POS B-NP +views NNS I-NP +are VBP B-VP +not RB I-VP +greeted VBN I-VP +with IN B-PP +wild JJ B-NP +enthusiasm NN I-NP +over IN B-ADVP +at IN B-PP +the DT B-NP +IAFP NNP I-NP +, , O +the DT B-NP +major JJ I-NP +industry NN I-NP +organization NN I-NP +. . O + +When WRB B-ADVP +the DT B-NP +IAFP NNP I-NP +recently RB B-ADVP +assembled VBD B-VP +other JJ B-NP +industry NN I-NP +groups NNS I-NP +to TO B-VP +discuss VB I-VP +common JJ B-NP +standards NNS I-NP +that WDT B-NP +might MD B-VP +be VB I-VP +applied VBN I-VP +to TO B-PP +planners NNS B-NP +, , O +Mr. NNP B-NP +Gargan NNP I-NP +'s POS B-NP +group NN I-NP +was VBD B-VP +excluded VBN I-VP +. . O + +That DT B-NP +may MD B-VP +be VB I-VP +because IN B-SBAR +Mr. NNP B-NP +Gargan NNP I-NP +, , O +smarting VBG B-VP +at IN B-PP +what WP B-NP +he PRP B-NP +considered VBD B-VP +slurs NNS B-NP +on IN B-PP +his PRP$ B-NP +membership NN I-NP +standards NNS I-NP +made VBN B-VP +by IN B-PP +the DT B-NP +rival JJ I-NP +group NN I-NP +, , O +enrolled VBD B-VP +his PRP$ B-NP +dog NN I-NP +, , O +Beauregard NNP B-NP +, , O +as IN B-PP +a DT B-NP +member NN I-NP +of IN B-PP +the DT B-NP +IAFP NNP I-NP +. . O + +Then RB O +he PRP B-NP +sent VBD B-VP +the DT B-NP +pooch NN I-NP +'s POS B-NP +picture NN I-NP +with IN B-PP +the DT B-NP +certificate NN I-NP +of IN B-PP +membership NN B-NP +-- : O +it PRP B-NP +was VBD B-VP +made VBN I-VP +out IN B-PRT +to TO B-PP +`` `` O +Boris NNP B-NP +` `` I-NP +Bo NNP I-NP +' '' I-NP +Regaard NNP I-NP +'' '' O +-- : O +to TO B-PP +every DT B-NP +newspaper NN I-NP +he PRP B-NP +could MD B-VP +think VB I-VP +of IN B-PP +. . O +-RRB- ) O + +The DT B-NP +states NNS I-NP +have VBP B-VP +their PRP$ B-NP +own JJ I-NP +ideas NNS I-NP +about IN B-PP +regulation NN B-NP +and CC I-NP +certification NN I-NP +. . O + +NASAA NNP B-NP +, , O +the DT B-NP +organization NN I-NP +of IN B-PP +state NN B-NP +securities NNS I-NP +regulators NNS I-NP +, , O +is VBZ B-VP +pushing VBG I-VP +for IN B-PP +a DT B-NP +model NN I-NP +regulatory JJ I-NP +statute NN I-NP +already RB B-VP +adopted VBD I-VP +in IN B-PP +eight CD B-NP +states NNS I-NP +. . O + +It PRP B-NP +requires VBZ B-VP +financial JJ B-NP +planners NNS I-NP +to TO B-VP +register VB I-VP +with IN B-PP +states NNS B-NP +, , O +pass VB B-VP +competency NN B-NP +tests NNS I-NP +and CC O +reveal VB B-VP +to TO B-PP +customers NNS B-NP +any DT B-NP +conflicts NNS I-NP +of IN B-PP +interest NN B-NP +. . O + +The DT B-NP +most RBS I-NP +common JJ I-NP +conflict NN I-NP +involves VBZ B-VP +compensation NN B-NP +. . O + +NASAA NNP B-NP +estimates NNS B-VP +that IN B-SBAR +nearly RB B-NP +90 CD I-NP +% NN I-NP +of IN B-PP +planners NNS B-NP +receive VBP B-VP +some DT B-NP +or CC I-NP +all DT I-NP +of IN B-PP +their PRP$ B-NP +income NN I-NP +from IN B-PP +sales NNS B-NP +commissions NNS I-NP +on IN B-PP +securities NNS B-NP +, , O +insurance NN B-NP +and CC O +other JJ B-NP +financial JJ I-NP +products NNS I-NP +they PRP B-NP +recommend VBP B-VP +. . O + +The DT B-NP +issue NN I-NP +: : O +Is VBZ O +the DT B-NP +planner NN I-NP +putting VBG B-VP +his PRP$ B-NP +clients NNS I-NP +into IN B-PP +the DT B-NP +best JJS I-NP +investments NNS I-NP +, , O +or CC O +the DT B-NP +ones NNS I-NP +that WDT B-NP +garner VBP B-VP +the DT B-NP +biggest JJS I-NP +commissions NNS I-NP +? . O + +In IN B-PP +1986 CD B-NP +the DT B-NP +New NNP I-NP +York NNP I-NP +attorney NN I-NP +general NN I-NP +'s POS B-NP +office NN I-NP +got VBD B-VP +an DT B-NP +order NN I-NP +from IN B-PP +a DT B-NP +state NN I-NP +court NN I-NP +in IN B-PP +Albany NNP B-NP +shutting VBG B-VP +down RB B-PRT +First NNP B-NP +Meridian NNP I-NP +Corp. NNP I-NP +, , O +an DT B-NP +Albany NNP I-NP +financial-planning JJ I-NP +firm NN I-NP +that WDT B-NP +had VBD B-VP +invested VBN I-VP +$ $ B-NP +55 NN I-NP +million CD I-NP +on IN B-PP +behalf NN B-NP +of IN B-PP +nearly RB B-NP +1,000 CD I-NP +investors NNS I-NP +. . O + +In IN B-PP +its PRP$ B-NP +notice NN I-NP +of IN B-PP +action NN B-NP +, , O +the DT B-NP +attorney NN I-NP +general NN I-NP +said VBD B-VP +the DT B-NP +company NN I-NP +had VBD B-VP +promised VBN I-VP +to TO I-VP +put VB I-VP +clients NNS B-NP +into IN B-PP +`` `` B-NP +balanced JJ I-NP +'' '' I-NP +investment NN I-NP +portfolios NNS I-NP +; : O +instead RB B-ADVP +, , O +the DT B-NP +attorney NN I-NP +general JJ I-NP +alleged VBN B-VP +, , O +the DT B-NP +company NN I-NP +consistently RB B-VP +shoved VBD I-VP +unwary JJ B-NP +customers NNS I-NP +into IN B-PP +high-risk JJ B-NP +investments NNS I-NP +in IN B-PP +paintings NNS B-NP +, , O +coins NNS B-NP +and CC O +Florida NNP B-NP +condos NNS I-NP +. . O + +Those DT B-NP +investments NNS I-NP +paid VBD B-VP +big JJ B-NP +commissions NNS I-NP +to TO B-PP +First NNP B-NP +Meridian NNP I-NP +, , O +payments NNS B-NP +investors NNS B-NP +were VBD B-VP +never RB I-VP +told VBN I-VP +about IN B-PP +, , O +the DT B-NP +attorney NN I-NP +general JJ I-NP +alleged VBN B-VP +. . O + +Investors NNS B-NP +were VBD B-VP +further RB I-VP +assured VBN I-VP +that IN B-SBAR +only RB B-NP +those DT I-NP +with IN B-PP +a DT B-NP +minimun NN I-NP +net JJ I-NP +worth NN I-NP +would MD B-VP +be VB I-VP +accepted VBN I-VP +. . O + +In IN B-PP +practice NN B-NP +, , O +the DT B-NP +attorney NN I-NP +general JJ I-NP +alleged VBN B-VP +in IN B-PP +an DT B-NP +affidavit NN I-NP +, , O +if IN B-SBAR +an DT B-NP +investor NN I-NP +had VBD B-VP +access NN B-NP +to TO B-PP +cash VB B-NP +`` `` O +the DT B-NP +chances NNS I-NP +of IN B-PP +being VBG B-VP +turned VBN I-VP +down RB B-PRT +by IN B-PP +First NNP B-NP +Meridian NNP I-NP +were VBD B-VP +about IN B-ADJP +as RB I-ADJP +probable JJ I-ADJP +as IN B-PP +being VBG B-VP +rejected VBN I-VP +by IN B-PP +the DT B-NP +Book-of-the-Month NNP I-NP +Club NNP I-NP +. . O +'' '' O + +And CC O +, , O +the DT B-NP +attorney NN I-NP +general NN I-NP +added VBD B-VP +, , O +First NNP B-NP +Meridian NNP I-NP +'s POS B-NP +president NN I-NP +, , O +Roger NNP B-NP +V. NNP I-NP +Sala NNP I-NP +, , O +portrayed VBD B-VP +himself PRP B-NP +as IN B-PP +a DT B-NP +`` `` I-NP +financial JJ I-NP +expert NN I-NP +'' '' O +when WRB B-ADVP +his PRP$ B-NP +qualifications NNS I-NP +largely RB B-VP +consisted VBD I-VP +of IN B-PP +a DT B-NP +high-school NN I-NP +diploma NN I-NP +, , O +work NN B-NP +as IN B-PP +a DT B-NP +real-estate NN I-NP +and CC I-NP +insurance NN I-NP +salesman NN I-NP +, , O +and CC O +a DT B-NP +stint NN I-NP +as IN B-PP +supervisor NN B-NP +at IN B-PP +a DT B-NP +highway NN I-NP +toll NN I-NP +booth NN I-NP +. . O + +First NNP B-NP +Meridian NNP I-NP +and CC O +its PRP$ B-NP +officials NNS I-NP +are VBP B-VP +currently RB B-ADVP +under IN B-PP +investigation NN B-NP +for IN B-PP +possible JJ B-NP +criminal JJ I-NP +wrongdoing NN I-NP +, , O +according VBG B-PP +to TO B-PP +a DT B-NP +spokeswoman NN I-NP +for IN B-PP +the DT B-NP +attorney NN I-NP +general JJ I-NP +. . O + +Harry NNP B-NP +Manion NNP I-NP +, , O +Mr. NNP B-NP +Sala NNP I-NP +'s POS B-NP +attorney NN I-NP +, , O +says VBZ B-VP +his PRP$ B-NP +client NN I-NP +denies VBZ B-VP +any DT B-NP +wrongdoing NN I-NP +and CC O +adds VBZ B-VP +that IN B-SBAR +the DT B-NP +attorney NN I-NP +general NN I-NP +'s POS B-NP +contentions NNS I-NP +about IN B-PP +First NNP B-NP +Meridian NNP I-NP +'s POS B-NP +business NN I-NP +practices NNS I-NP +are VBP B-VP +incorrect JJ B-ADJP +. . O + +As IN B-PP +for IN B-PP +Mr. NNP B-NP +Sala NNP I-NP +'s POS B-NP +qualifications NNS I-NP +, , O +`` `` O +the DT B-NP +snooty JJ I-NP +attorneys NNS I-NP +for IN B-PP +the DT B-NP +state NN I-NP +of IN B-PP +New NNP B-NP +York NNP I-NP +decided VBD B-VP +Mr. NNP B-NP +Sala NNP I-NP +was VBD B-VP +n't RB O +qualified VBN B-ADJP +because IN B-SBAR +he PRP B-NP +did VBD B-VP +n't RB I-VP +have VB I-VP +a DT B-NP +Harvard NNP I-NP +degree NN I-NP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Manion NNP I-NP +. . O + +Civil JJ B-NP +suits NNS I-NP +against IN B-PP +planners NNS B-NP +by IN B-PP +clients NNS B-NP +seeking VBG B-VP +recovery NN B-NP +of IN B-PP +funds NNS B-NP +are VBP B-VP +increasingly RB B-ADJP +common JJ I-ADJP +. . O + +Two CD B-NP +such JJ I-NP +actions NNS I-NP +, , O +both DT B-NP +filed VBN B-VP +earlier RBR B-NP +this DT I-NP +year NN I-NP +in IN B-PP +Georgia NNP B-NP +state NN I-NP +court NN I-NP +in IN B-PP +Atlanta NNP B-NP +, , O +could MD B-VP +be VB I-VP +particularly RB B-ADJP +embarrassing JJ I-ADJP +to TO B-PP +the DT B-NP +industry NN I-NP +: : O +both DT B-NP +name NN B-VP +J. NNP B-NP +Chandler NNP I-NP +Peterson NNP I-NP +, , O +an DT B-NP +Atlanta NNP I-NP +financial JJ I-NP +planner NN I-NP +who WP B-NP +is VBZ B-VP +a DT B-NP +founder NN I-NP +and CC I-NP +past JJ I-NP +chairman NN I-NP +of IN B-PP +the DT B-NP +IAFP NNP I-NP +, , O +as IN B-PP +defendant NN B-NP +. . O + +One CD B-NP +suit NN I-NP +, , O +filed VBN B-VP +by IN B-PP +more JJR B-NP +than IN I-NP +three CD I-NP +dozen NN I-NP +investors NNS I-NP +, , O +charges VBZ B-VP +that IN B-SBAR +Mr. NNP B-NP +Peterson NNP I-NP +misused VBD B-VP +much NN B-NP +of IN B-PP +the DT B-NP +$ $ I-NP +9.7 CD I-NP +million CD I-NP +put VB B-VP +into IN B-PP +a DT B-NP +limited JJ I-NP +partnership NN I-NP +that IN B-NP +he PRP B-NP +operated VBD B-VP +and CC I-VP +promoted VBN I-VP +, , O +spending VBG B-VP +some DT B-NP +of IN B-PP +it PRP B-NP +to TO B-VP +pay VB I-VP +his PRP$ B-NP +own JJ I-NP +legal JJ I-NP +bills NNS I-NP +and CC O +to TO B-VP +invest VB I-VP +in IN B-PP +other JJ B-NP +companies NNS I-NP +in IN B-PP +which WDT B-NP +he PRP B-NP +had VBD B-VP +an DT B-NP +interest NN I-NP +. . O + +Those DT B-NP +companies NNS I-NP +, , O +in IN B-PP +turn NN B-NP +, , O +paid VBN B-VP +Mr. NNP B-NP +Peterson NNP I-NP +commissions VBZ B-NP +and CC I-NP +fees NNS I-NP +, , O +the DT B-NP +suit NN I-NP +alleges NNS B-VP +. . O + +The DT B-NP +other JJ I-NP +suit NN I-NP +was VBD B-VP +filed VBN I-VP +by IN B-PP +two CD B-NP +men NNS I-NP +in IN B-PP +a DT B-NP +dispute NN I-NP +over IN B-PP +$ $ B-NP +100,000 CD I-NP +investments NNS I-NP +each DT B-NP +says VBZ B-VP +he PRP B-NP +made VBD B-VP +with IN B-PP +Mr. NNP B-NP +Peterson NNP I-NP +as IN B-PP +part NN B-NP +of IN B-PP +an DT B-NP +effort NN I-NP +to TO B-VP +purchase VB I-VP +the DT B-NP +Bank NNP I-NP +of IN B-PP +Scottsdale NNP B-NP +in IN B-PP +Scottsdale NNP B-NP +, , O +Ariz NNP B-NP +. . O + +One CD B-NP +plaintiff NN I-NP +, , O +a DT B-NP +doctor NN I-NP +, , O +testified VBD B-VP +in IN B-PP +an DT B-NP +affidavit NN I-NP +that IN B-SBAR +he PRP B-NP +also RB B-ADVP +gave VBD B-VP +Mr. NNP B-NP +Peterson NNP I-NP +$ $ B-NP +50,000 CD I-NP +to TO B-VP +join VB I-VP +a DT B-NP +sort NN I-NP +of IN B-PP +investment NN B-NP +club NN I-NP +which WDT B-NP +essentially RB B-ADVP +gave VBD B-VP +the DT B-NP +physician NN I-NP +`` `` O +the DT B-NP +privilege NN I-NP +of IN B-PP +making VBG B-VP +additional JJ B-NP +investments NNS I-NP +'' '' O +with IN B-PP +Mr. NNP B-NP +Peterson NNP I-NP +. . O + +In IN B-PP +affidavits NNS B-NP +, , O +each DT B-NP +plaintiff NN I-NP +claims NNS B-VP +Mr. NNP B-NP +Peterson NNP I-NP +promised VBD B-VP +the DT B-NP +bank NN I-NP +purchase NN I-NP +would MD B-VP +be VB I-VP +completed VBN I-VP +by IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +1988 CD B-NP +or CC O +the DT B-NP +money NN I-NP +returned VBD B-VP +. . O + +Mr. NNP B-NP +Peterson NNP I-NP +took VBD B-VP +the DT B-NP +plaintiffs NNS I-NP +' POS B-NP +and CC O +other JJ B-NP +investors NNS I-NP +' POS B-NP +money NN I-NP +to TO B-PP +a DT B-NP +meeting NN I-NP +of IN B-PP +the DT B-NP +bank NN I-NP +'s POS B-NP +directors NNS I-NP +. . O + +Wearing VBG B-VP +a DT B-NP +business NN I-NP +suit NN I-NP +and CC I-NP +western-style JJ I-NP +hat NN I-NP +and CC I-NP +boots NNS I-NP +, , O +he PRP B-NP +opened VBD B-VP +up IN B-PRT +his PRP$ B-NP +briefcase NN I-NP +and CC O +dumped VBD B-VP +$ $ B-NP +1 CD I-NP +million CD I-NP +in IN B-PP +cash NN B-NP +on IN B-PP +a DT B-NP +table NN I-NP +in IN B-PP +front NN B-NP +of IN B-PP +the DT B-NP +directors NNS I-NP +, , O +says VBZ B-VP +Myron NNP B-NP +Diebel NNP I-NP +, , O +the DT B-NP +bank NN I-NP +'s POS B-NP +president NN I-NP +. . O + +`` `` O +He PRP B-NP +said VBD B-VP +he PRP B-NP +wanted VBD B-VP +to TO I-VP +show VB I-VP +the DT B-NP +color NN I-NP +of IN B-PP +his PRP$ B-NP +money NN I-NP +, , O +'' '' O +recalls VBZ B-VP +Mr. NNP B-NP +Diebel NNP I-NP +. . O + +Bank NN B-NP +officials NNS I-NP +, , O +however RB B-ADVP +, , O +showed VBD B-VP +him PRP B-NP +the DT B-NP +door NN I-NP +, , O +and CC O +the DT B-NP +sale NN I-NP +never RB B-ADVP +came VBD B-VP +off RB B-PRT +. . O + +According VBG B-PP +to TO B-PP +the DT B-NP +suit NN I-NP +, , O +Mr. NNP B-NP +Peterson NNP I-NP +has VBZ B-VP +yet RB I-VP +to TO I-VP +return VB I-VP +the DT B-NP +plaintiffs NNS I-NP +' POS B-NP +investment NN I-NP +. . O + +They PRP B-NP +want VBP B-VP +it PRP B-NP +back RB B-ADVP +. . O + +Mr. NNP B-NP +Peterson NNP I-NP +declines VBZ B-VP +to TO I-VP +comment VB I-VP +on IN B-PP +specific JJ B-NP +allegations NNS I-NP +in IN B-PP +the DT B-NP +two CD I-NP +suits NNS I-NP +, , O +saying VBG B-VP +he PRP B-NP +prefers VBZ B-VP +to TO I-VP +save VB I-VP +such JJ B-NP +responses NNS I-NP +for IN B-PP +court NN B-NP +. . O + +But CC O +he PRP B-NP +does VBZ B-VP +say VBP I-VP +that IN B-SBAR +all DT B-NP +of IN B-PP +his PRP$ B-NP +activities NNS I-NP +have VBP B-VP +been VBN I-VP +`` `` O +entirely RB B-ADJP +proper JJ I-ADJP +. . O +'' '' O + +On IN B-PP +the DT B-NP +suit NN I-NP +by IN B-PP +the DT B-NP +limited JJ I-NP +partners NNS I-NP +, , O +he PRP B-NP +says VBZ B-VP +he PRP B-NP +is VBZ B-VP +considering VBG I-VP +a DT B-NP +defamation NN I-NP +suit NN I-NP +against IN B-PP +the DT B-NP +plaintiffs NNS I-NP +. . O + +The DT B-NP +suit NN I-NP +, , O +he PRP B-NP +adds VBZ B-VP +, , O +`` `` O +is VBZ B-VP +almost RB B-ADVP +in IN B-PP +the DT B-NP +nature NN I-NP +of IN B-PP +a DT B-NP +vendetta NN I-NP +by IN B-PP +a DT B-NP +handful NN I-NP +of IN B-PP +disgruntled JJ B-NP +people NNS I-NP +. . O +'' '' O + +Rearding VBG B-PP +the DT B-NP +suit NN I-NP +over IN B-PP +the DT B-NP +bank NN I-NP +bid NN I-NP +, , O +Mr. NNP B-NP +Peterson NNP I-NP +says VBZ B-VP +it PRP B-NP +is VBZ B-VP +filled VBN I-VP +with IN B-PP +`` `` O +inflammatory JJ B-NP +language NN I-NP +and CC O +half NN B-NP +truths NNS I-NP +. . O +'' '' O + +He PRP B-NP +declines VBZ B-VP +to TO I-VP +go VB I-VP +into IN B-PP +specifics NNS B-NP +. . O + +Mr. NNP B-NP +Peterson NNP I-NP +says VBZ B-VP +the DT B-NP +suits NNS I-NP +against IN B-PP +him PRP B-NP +are VBP B-VP +less JJR B-NP +a DT I-NP +measure NN I-NP +of IN B-PP +his PRP$ B-NP +work NN I-NP +than IN B-SBAR +they PRP B-NP +are VBP B-VP +a DT B-NP +`` `` I-NP +sign NN I-NP +of IN B-PP +the DT B-NP +times NNS I-NP +'' '' O +in IN B-PP +which WDT B-NP +people NNS B-NP +generally RB B-ADVP +are VBP B-VP +more RBR B-ADJP +prone JJ I-ADJP +to TO B-VP +sue VB I-VP +. . O + +`` `` O +I PRP B-NP +do VBP B-VP +n't RB I-VP +know VB I-VP +anybody NN B-NP +in IN B-PP +the DT B-NP +industry NN I-NP +who WP B-NP +has VBZ B-VP +n't RB I-VP +experienced VBN I-VP +litigation NN B-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +Mr. NNP B-NP +Peterson NNP I-NP +also RB B-ADVP +says VBZ B-VP +he PRP B-NP +does VBZ B-VP +n't RB I-VP +consider VB I-VP +himself PRP B-NP +a DT B-NP +financial JJ I-NP +planner NN I-NP +anymore RB B-ADVP +. . O + +He PRP B-NP +now RB B-ADVP +calls VBZ B-VP +himself PRP B-NP +an DT B-NP +`` `` I-NP +investment NN I-NP +banker NN I-NP +. . O +'' '' O + +In IN B-PP +many JJ B-NP +scams NNS I-NP +or CC I-NP +alleged VBN I-NP +scams NNS I-NP +involving VBG B-VP +planners NNS B-NP +, , O +it PRP B-NP +'s VBZ B-VP +plain JJ B-ADJP +that IN B-SBAR +only RB B-NP +a DT I-NP +modicum NN I-NP +of IN B-PP +common JJ B-NP +sense NN I-NP +on IN B-PP +the DT B-NP +part NN I-NP +of IN B-PP +the DT B-NP +investors NNS I-NP +would MD B-VP +have VB I-VP +kept VBN I-VP +them PRP B-NP +out IN B-ADVP +of IN B-PP +harm NN B-NP +'s POS B-NP +way NN I-NP +. . O + +Using VBG B-VP +it PRP B-NP +, , O +would MD O +n't RB O +a DT B-NP +proessional NN I-NP +hesitate VB B-VP +to TO I-VP +pay VB I-VP +tens NNS B-NP +of IN I-NP +thousands NNS I-NP +of IN B-PP +dollars NNS B-NP +just RB B-ADVP +for IN B-PP +a DT B-NP +chance NN I-NP +to TO B-VP +invest VB I-VP +witha NN O +planner NN O +? . O + +Other JJ B-NP +cases NNS I-NP +go VBP B-VP +to TO I-VP +show VB I-VP +that IN B-SBAR +an DT B-NP +old JJ I-NP +saw VBD I-NP +still RB B-ADVP +applies VBZ B-VP +: : O +If IN B-SBAR +it PRP B-NP +sounds VBZ B-VP +too RB B-ADJP +good JJ I-ADJP +to TO B-VP +be VB I-VP +true JJ B-ADJP +, , O +it PRP B-NP +probably RB B-ADVP +is VBZ B-VP +. . O + +Certificates NNS B-NP +of IN B-PP +deposit NN B-NP +do VBP B-VP +n't RB I-VP +pay VB I-VP +23 CD B-NP +% NN I-NP +a DT B-NP +year NN I-NP +, , O +for IN B-PP +example NN B-NP +, , O +but CC O +that DT B-NP +did VBD B-VP +n't RB I-VP +give VB I-VP +pause NN B-NP +to TO B-PP +clients NNS B-NP +of IN B-PP +one CD B-NP +Alabama NNP I-NP +planner NN I-NP +. . O + +Now RB B-ADVP +they PRP B-NP +'re VBP B-VP +losers NNS B-NP +and CC O +he PRP B-NP +'s VBZ B-VP +in IN B-PP +jail NN B-NP +in IN B-PP +Mobile NNP B-NP +County NNP I-NP +. . O + +CDs NNS B-NP +yielding VBG B-VP +40 CD B-NP +% NN I-NP +are VBP B-VP +even RB B-ADJP +more RBR I-ADJP +implausible JJ I-ADJP +-- : O +especially RB B-ADVP +when WRB B-ADVP +the DT B-NP +issuing VBG I-NP +`` `` I-NP +bank NN I-NP +'' '' O +in IN B-PP +the DT B-NP +Marshall NNP I-NP +Islands NNPS I-NP +is VBZ B-VP +merely RB B-NP +a DT I-NP +mail NN I-NP +drop NN I-NP +watched VBD B-VP +over IN B-PRT +by IN B-PP +a DT B-NP +local JJ I-NP +gas-station JJ I-NP +operator NN I-NP +-- : O +but CC O +investors NNS B-NP +fell VBD B-VP +for IN B-PP +that DT B-NP +one CD I-NP +too RB I-NP +. . O + +And CC O +the DT B-NP +Colorado NNP I-NP +planner NN I-NP +who WP B-NP +promised VBD B-VP +to TO I-VP +make VB I-VP +some DT B-NP +of IN B-PP +his PRP$ B-NP +clients NNS I-NP +millionaires NNS B-NP +on IN B-PP +investments NNS B-NP +of IN B-PP +as RB B-NP +litle JJ I-NP +as IN I-NP +$ $ I-NP +100 CD I-NP +? . O + +Never RB B-ADVP +mind NN B-VP +. . O + +You PRP B-NP +already RB B-ADVP +know VBP B-VP +the DT B-NP +answer NN I-NP +. . O + +Mr. NNP B-NP +Emshwiller NNP I-NP +is VBZ B-VP +a DT B-NP +staff NN I-NP +reporter NN I-NP +in IN B-PP +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +'s POS B-NP +Los NNP I-NP +Angeles NNP I-NP +bureau NN I-NP +. . O + +At IN B-PP +the DT B-NP +ritzy JJ I-NP +Fashion NNP I-NP +Island NNP I-NP +Shopping NNP I-NP +Center NNP I-NP +, , O +the DT B-NP +tanned JJ I-NP +and CC I-NP +elegant JJ I-NP +ladies NNS I-NP +of IN B-PP +this DT B-NP +wealthy JJ I-NP +Southern NNP I-NP +California NNP I-NP +beach NN I-NP +community NN I-NP +disembark VBP B-VP +from IN B-PP +their PRP$ B-NP +Mercedes-Benzes NNPS I-NP +and CC I-NP +BMWs NNS I-NP +for IN B-PP +another DT B-NP +day NN I-NP +of IN B-PP +exercising VBG B-VP +their PRP$ B-NP +credit NN I-NP +cards NNS I-NP +. . O + +They PRP B-NP +root VBP B-VP +among IN B-PP +the DT B-NP +designer NN I-NP +offerings NNS I-NP +at IN B-PP +Neiman-Marcus NNP B-NP +and CC O +Bullocks NNP B-NP +Wilshire NNP I-NP +. . O + +They PRP B-NP +stroll VBP B-VP +through IN B-PP +the DT B-NP +marble-encased JJ I-NP +corridors NNS I-NP +of IN B-PP +the DT B-NP +Atrium NNP I-NP +Court NNP I-NP +. . O + +They PRP B-NP +graze VBP B-VP +at IN B-PP +the DT B-NP +Farmers NNP I-NP +Market NNP I-NP +, , O +a DT B-NP +combination NN I-NP +gourmet NN I-NP +food NN I-NP +court NN I-NP +and CC I-NP +grocery NN I-NP +store NN I-NP +, , O +while IN B-SBAR +a DT B-NP +pianist NN I-NP +accompanies VBZ B-VP +the DT B-NP +noon NN I-NP +fashion NN I-NP +show NN I-NP +with IN B-PP +a DT B-NP +selection NN I-NP +of IN B-PP +dreamy JJ B-NP +melodies NNS I-NP +. . O + +`` `` O +The DT B-NP +beautiful JJ I-NP +look NN I-NP +of IN B-PP +wool NN B-NP +, , O +'' '' O +croons VBZ B-VP +the DT B-NP +show NN I-NP +'s POS B-NP +narrator NN I-NP +, , O +`` `` O +slightly RB B-ADJP +Victorian JJ I-ADJP +in IN B-PP +its PRP$ B-NP +influence NN I-NP +... : O +. . O +'' '' O + +Meanwhile RB B-ADVP +, , O +in IN B-PP +the DT B-NP +squat JJ I-NP +office NN I-NP +buildings NNS I-NP +that WDT B-NP +ring VBP B-VP +Fashion NNP B-NP +Island NNP I-NP +, , O +the DT B-NP +odds NNS I-NP +are VBP B-VP +good JJ B-ADJP +that DT B-SBAR +someone NN B-NP +is VBZ B-VP +getting VBG I-VP +fleeced VBN I-VP +. . O + +Law-enforcement JJ B-NP +authorities NNS I-NP +say VBP B-VP +that IN B-SBAR +at IN B-PP +any DT B-NP +given VBN I-NP +time NN I-NP +, , O +a DT B-NP +host NN I-NP +of IN B-PP +fraudulent JJ B-NP +telemarketing NN I-NP +operations NNS I-NP +mingle VBP B-VP +with IN B-PP +the DT B-NP +many JJ I-NP +legitimate JJ I-NP +businesses NNS I-NP +here RB B-ADVP +. . O + +`` `` O +They PRP B-NP +seem VBP B-VP +to TO I-VP +like IN I-VP +these DT B-NP +industrial JJ I-NP +parks NNS I-NP +, , O +'' '' O +says VBZ B-VP +Kacy NNP B-NP +McClelland NNP I-NP +, , O +a DT B-NP +postal JJ I-NP +inspector NN I-NP +who WP B-NP +specializes VBZ B-VP +in IN B-PP +mail NN B-NP +fraud NN I-NP +. . O + +`` `` O +We PRP B-NP +call VBP B-VP +them PRP B-NP +fraud NN B-NP +farms NNS I-NP +. . O +'' '' O + +Welcome NNP B-INTJ +to TO B-PP +that DT B-NP +welter NN I-NP +of IN B-PP +contradictions NNS B-NP +known VBN B-VP +as IN B-PP +Newport NNP B-NP +Beach NNP I-NP +. . O + +This DT B-NP +city NN I-NP +of IN B-PP +more JJR B-NP +than IN I-NP +70,000 CD I-NP +is VBZ B-VP +known VBN I-VP +for IN B-PP +sunshine NN B-NP +, , O +yachts NNS B-NP +and CC O +rich JJ B-NP +residents NNS I-NP +. . O + +It PRP B-NP +is VBZ B-VP +also RB I-VP +known VBN I-VP +as IN B-PP +the DT B-NP +fraud NN I-NP +capital NN I-NP +of IN B-PP +the DT B-NP +U.S. NNP I-NP +, , O +dubbed VBN B-VP +by IN B-PP +investigators NNS B-NP +and CC O +the DT B-NP +media NNS I-NP +as IN B-PP +the DT B-NP +`` `` I-NP +Cote NNP I-NP +de FW I-NP +Fraud NNP I-NP +'' '' O +. . O + +How WRB B-ADVP +does VBZ O +a DT B-NP +community NN I-NP +famous JJ B-ADJP +for IN B-PP +its PRP$ B-NP +high JJ I-NP +living VBG I-NP +end NN B-VP +up IN B-PRT +as IN B-PP +a DT B-NP +haven NN I-NP +for IN B-PP +low-lifes NNS B-NP +? . O + +Clearly RB B-ADVP +, , O +the DT B-NP +existence NN I-NP +of IN B-PP +the DT B-NP +former JJ I-NP +lures NNS B-VP +the DT B-NP +latter NN I-NP +. . O + +The DT B-NP +places NNS I-NP +renowned JJ B-VP +for IN B-PP +breeding VBG B-VP +bunco NN B-NP +, , O +like IN B-PP +the DT B-NP +Miami NNP I-NP +neighborhood NN I-NP +known VBN B-VP +as IN B-PP +the DT B-NP +`` `` I-NP +Maggot NNP I-NP +Mile NNP I-NP +'' '' O +and CC O +Las NNP B-NP +Vegas NNP I-NP +'s POS B-NP +flashy JJ I-NP +strip NN I-NP +of IN B-PP +casinos NNS B-NP +, , O +invariably RB B-ADVP +offer VBP B-VP +fast JJ B-NP +cars NNS I-NP +, , O +high JJ B-NP +rollers NNS I-NP +, , O +glamorous JJ B-NP +women NNS I-NP +and CC O +lots NNS B-NP +of IN B-PP +sunshine NN B-NP +. . O + +You PRP B-NP +do VBP B-VP +n't RB I-VP +hear VB I-VP +much JJ B-NP +about IN B-PP +unusual JJ B-NP +concentrations NNS I-NP +of IN B-PP +fraud NN B-NP +in IN B-PP +Green NNP B-NP +Bay NNP I-NP +or CC O +Buffalo NNP B-NP +. . O + +Con JJ B-NP +men NNS I-NP +hate VBP B-VP +snow NN B-NP +. . O + +Newport NNP B-NP +Beach NNP I-NP +fits VBZ B-VP +the DT B-NP +scam NN I-NP +artists NNS I-NP +' POS B-NP +specifications NNS I-NP +perfectly RB B-ADVP +. . O + +What WP B-NP +more JJR I-NP +could MD O +a DT B-NP +con JJ I-NP +man NN I-NP +in IN B-PP +search NN B-NP +of IN B-PP +the DT B-NP +easy JJ I-NP +life NN I-NP +ask VB B-VP +for RB B-PP +? . O + +Nothing NN B-NP +seems VBZ B-VP +hard JJ B-ADJP +here RB B-ADVP +. . O + +The DT B-NP +breezes NNS I-NP +are VBP B-VP +soft JJ B-ADJP +, , O +the DT B-NP +waves NNS I-NP +lap VBP B-VP +gently RB B-ADVP +and CC O +the DT B-NP +palm NN I-NP +trees NNS I-NP +sway VBP B-VP +lazily RB B-ADVP +. . O + +Nightlife NN B-NP +is VBZ B-VP +plentiful JJ B-ADJP +. . O + +Moreover RB B-ADVP +, , O +ostentation NN B-NP +is VBZ B-VP +appreciated VBN I-VP +. . O + +The DT B-NP +median JJ I-NP +price NN I-NP +of IN B-PP +homes NNS B-NP +is VBZ B-VP +$ $ B-NP +547,000 CD I-NP +; : O +more JJR B-NP +than IN I-NP +9,000 CD I-NP +vessels NNS I-NP +fill VBP B-VP +what WP B-NP +the DT B-NP +chamber NN I-NP +of IN B-PP +commerce NN B-NP +calls VBZ B-VP +the DT B-NP +nation NN I-NP +'s POS B-NP +largest JJS I-NP +pleasure-boat NN I-NP +harbor NN I-NP +. . O + +`` `` O +Blondes NNP B-NP +, , I-NP +cocaine NN I-NP +and CC I-NP +Corvettes NNS I-NP +, , O +'' '' O +mutters NNS B-VP +Mr. NNP B-NP +McClelland NNP I-NP +. . O + +`` `` O +That DT B-NP +'s VBZ B-VP +what WP B-NP +they PRP B-NP +'re VBP B-VP +after IN B-PP +. . O +'' '' O + +The DT B-NP +rich JJ I-NP +image NN I-NP +of IN B-PP +Newport NNP B-NP +Beach NNP I-NP +also RB B-ADVP +helps VBZ B-VP +lend VB I-VP +the DT B-NP +con JJ I-NP +artists NNS I-NP +' POS B-NP +operation NN I-NP +an DT B-NP +air NN I-NP +of IN B-PP +respectability NN B-NP +. . O + +`` `` O +One CD B-NP +reason NN I-NP +they PRP B-NP +use VBP B-VP +Newport NNP B-NP +Beach NNP I-NP +is VBZ B-VP +that IN B-SBAR +it PRP B-NP +sounds VBZ B-VP +swankier JJR B-ADJP +than IN B-PP +most RBS B-NP +addresses NNS I-NP +, , O +'' '' O +says VBZ B-VP +David NNP B-NP +Katz NNP I-NP +, , O +a DT B-NP +U.S. NNP I-NP +attorney NN I-NP +who WP B-NP +, , O +until IN B-ADVP +recently RB I-ADVP +, , O +headed VBD B-VP +a DT B-NP +multi-agency JJ I-NP +Southern NNP I-NP +California NNP I-NP +fraud NN I-NP +task NN I-NP +force NN I-NP +. . O + +`` `` O +Newport NNP B-NP +Beach NNP I-NP +is VBZ B-VP +known VBN I-VP +in IN B-PP +Rhode NNP B-NP +Island NNP I-NP +for IN B-PP +having VBG B-VP +a DT B-NP +lot NN I-NP +of IN B-PP +rich JJ B-NP +people NNS I-NP +. . O +'' '' O + +No DT B-NP +wonder NN I-NP +all DT B-NP +kinds NNS I-NP +of IN B-PP +big-time JJ B-NP +scams NNS I-NP +have VBP B-VP +flourished VBN I-VP +here RB B-ADVP +, , O +from IN B-PP +phony JJ B-NP +tax-sheltered JJ I-NP +Bible NNP I-NP +sales NNS I-NP +to TO B-PP +crooked JJ B-NP +car NN I-NP +dealers NNS I-NP +to TO B-PP +bogus JJ B-NP +penny-stock JJ I-NP +traders NNS I-NP +. . O + +But CC O +above IN B-PP +all DT B-NP +, , O +this DT B-NP +is VBZ B-VP +the DT B-NP +national JJ I-NP +headquarters NN I-NP +for IN B-PP +boiler-room NN B-NP +operators NNS I-NP +, , O +those DT B-NP +slick-talking JJ I-NP +snake-oil JJ I-NP +salesmen NNS I-NP +who WP B-NP +use VBP B-VP +the DT B-NP +telephone NN I-NP +to TO B-VP +extract VB I-VP +money NN B-NP +from IN B-PP +the DT B-NP +gullible JJ I-NP +and CC O +the DT B-NP +greedy JJ I-NP +and CC O +then RB B-ADVP +vanish VBP B-VP +. . O + +Because IN B-SBAR +only RB B-NP +a DT I-NP +fraction NN I-NP +of IN B-PP +them PRP B-NP +are VBP B-VP +ever RB I-VP +prosecuted VBN I-VP +, , O +nobody NN B-NP +really RB B-ADVP +knows VBZ B-VP +how WRB B-NP +much JJ I-NP +money NN I-NP +bogus JJ B-NP +telemarketing NN I-NP +operators NNS I-NP +really RB B-ADVP +harvest VBP B-VP +. . O + +`` `` O +I PRP B-NP +'ve VBP B-VP +heard VBN I-VP +that IN B-SBAR +there EX B-NP +is VBZ B-VP +$ $ B-NP +40 CD I-NP +billion CD I-NP +taken VBN B-VP +in IN B-PRT +nationwide JJ B-ADVP +by IN B-PP +boiler NN B-NP +rooms NNS I-NP +every DT B-NP +year NN I-NP +, , O +'' '' O +Mr. NNP B-NP +McClelland NNP I-NP +says VBZ B-VP +. . O + +`` `` O +If IN B-SBAR +that DT B-NP +'s VBZ B-VP +true JJ B-ADJP +, , O +Orange NNP B-NP +County NNP I-NP +has VBZ B-VP +to TO I-VP +be VB I-VP +at IN B-NP +least JJS I-NP +10 CD I-NP +% NN I-NP +of IN B-PP +that DT B-NP +. . O +'' '' O + +And CC O +most RBS B-NP +of IN B-PP +the DT B-NP +truly RB I-NP +big JJ I-NP +scams NNS I-NP +in IN B-PP +Orange NNP B-NP +County NNP I-NP +seem VB B-VP +to TO I-VP +originate VB I-VP +in IN B-PP +Newport NNP B-NP +Beach NNP I-NP +or CC O +one CD B-NP +of IN B-PP +the DT B-NP +other JJ I-NP +well-heeled JJ I-NP +communities NNS I-NP +that WDT B-NP +surround VBP B-VP +this DT B-NP +sliver-like JJ I-NP +city NN I-NP +that IN B-NP +hooks NNS B-VP +around IN B-PP +a DT B-NP +point NN I-NP +of IN B-PP +land NN B-NP +on IN B-PP +the DT B-NP +California NNP I-NP +coast NN I-NP +south RB B-ADVP +of IN B-PP +Los NNP B-NP +Angeles NNP I-NP +. . O + +In IN B-PP +fact NN B-NP +, , O +sophisticated JJ B-NP +big-bucks JJ I-NP +boiler-room NN I-NP +scams NNS I-NP +are VBP B-VP +known VBN I-VP +generically RB B-ADVP +among IN B-PP +law-enforcement NN B-NP +types NNS I-NP +as IN B-PP +`` `` O +Newport NNP B-NP +Beach NNP I-NP +'' '' B-NP +operations NNS I-NP +. . O + +That DT B-NP +contrasts NNS B-VP +with IN B-PP +the DT B-NP +penny-ante JJ I-NP +sales NNS I-NP +of IN B-PP +things NNS B-NP +such JJ B-PP +as IN I-PP +pen-and-pencil JJ B-NP +sets NNS I-NP +and CC O +office NN B-NP +supplies NNS I-NP +that WDT B-NP +are VBP B-VP +known VBN I-VP +as IN B-PP +`` `` O +Hollywood NNP B-NP +'' '' B-NP +scams NNS I-NP +. . O + +Newport NNP B-NP +Beach NNP I-NP +telemarketers NNS I-NP +concentrate VBP B-VP +on IN B-PP +precious JJ B-NP +metals NNS I-NP +and CC O +oil-leasing NN B-NP +deals NNS I-NP +that IN B-NP +typically RB B-ADVP +cost VBP B-VP +thousands NNS B-NP +of IN B-PP +dollars NNS B-NP +a DT B-NP +shot NN I-NP +. . O + +The DT B-NP +investors NNS I-NP +range VBP B-VP +from IN B-PP +elderly JJ B-NP +widows NNS I-NP +to TO B-PP +affluent JJ B-NP +professionals NNS I-NP +. . O + +In IN B-PP +one CD B-NP +ingenious JJ I-NP +recent JJ I-NP +example NN I-NP +of IN B-PP +a DT B-NP +Newport NNP I-NP +Beach NNP I-NP +boiler NN I-NP +room NN I-NP +, , O +prospective JJ B-NP +investors NNS I-NP +in IN B-PP +Capital NNP B-NP +Trust NNP I-NP +Inc. NNP I-NP +were VBD B-VP +allegedly RB I-VP +told VBN I-VP +that IN B-SBAR +their PRP$ B-NP +investment NN I-NP +in IN B-PP +precious JJ B-NP +metals NNS I-NP +was VBD B-VP +insured VBN I-VP +against IN B-PP +losses NNS B-NP +`` `` O +caused VBN B-VP +by IN B-PP +employees NNS B-NP +due JJ B-ADJP +to TO B-PP +dishonesty NN B-NP +, , I-NP +destruction NN I-NP +or CC I-NP +disappearance NN I-NP +, , O +'' '' O +according VBG B-PP +to TO B-PP +an DT B-NP +indictment NN I-NP +handed VBD B-VP +up IN B-PRT +by IN B-PP +a DT B-NP +federal JJ I-NP +grand JJ I-NP +jury NN I-NP +in IN B-PP +Los NNP B-NP +Angeles NNP I-NP +last JJ B-NP +month NN I-NP +. . O + +Thus RB B-ADVP +falsely RB B-VP +reassured VBN I-VP +, , O +investors NNS B-NP +sent VBD B-VP +$ $ B-NP +11.4 CD I-NP +million CD I-NP +to TO B-PP +the DT B-NP +Newport NNP I-NP +Beach NNP I-NP +company NN I-NP +, , O +most RBS B-NP +of IN B-PP +which WDT B-NP +was VBD B-VP +diverted VBN I-VP +to TO B-PP +unauthorized JJ B-NP +uses NNS I-NP +, , O +the DT B-NP +indictment NN I-NP +charges NNS B-VP +. . O + +Douglas NNP B-NP +Jones NNP I-NP +, , O +an DT B-NP +attorney NN I-NP +representing VBG B-VP +Richard NNP B-NP +O. NNP I-NP +Kelly NNP I-NP +Sr. NNP I-NP +, , O +the DT B-NP +chairman NN I-NP +and CC I-NP +president NN I-NP +of IN B-PP +Capital NNP B-NP +Trust NNP I-NP +, , O +says VBZ B-VP +his PRP$ B-NP +client NN I-NP +denies VBZ B-VP +that IN B-SBAR +there EX B-NP +was VBD B-VP +any DT B-NP +attempt NN I-NP +to TO B-VP +defraud VB I-VP +investors NNS B-NP +. . O + +`` `` O +There EX B-NP +were VBD B-VP +some DT B-NP +business NN I-NP +deals NNS I-NP +that WDT B-NP +went VBD B-VP +bad JJ B-ADJP +, , O +'' '' O +Mr. NNP B-NP +Jones NNP I-NP +says VBZ B-VP +, , O +`` `` O +but CC O +no DT B-NP +intent NN I-NP +to TO B-VP +defraud VB I-VP +. . O +'' '' O + +Newport NNP B-NP +Beach NNP I-NP +operations NNS I-NP +differ VBP B-VP +from IN B-PP +the DT B-NP +Hollywood NNP I-NP +boiler NN I-NP +rooms NNS I-NP +in IN B-PP +style NN B-NP +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +in IN B-PP +dollars NNS B-NP +. . O + +Traditionally RB B-ADVP +, , O +boiler NN B-NP +rooms NNS I-NP +operate VBP B-VP +on IN B-PP +the DT B-NP +cheap NN I-NP +, , O +since IN B-SBAR +few JJ O +, , O +if IN B-SBAR +any DT B-ADJP +, , O +customers NNS B-NP +ever RB B-ADVP +visit VBP B-VP +their PRP$ B-NP +offices NNS I-NP +. . O + +Indeed RB B-INTJ +, , O +the DT B-NP +name NN I-NP +derives VBZ B-VP +from IN B-PP +the DT B-NP +tendency NN I-NP +among IN B-PP +telemarketing NN B-NP +scammers NNS I-NP +to TO B-VP +rent VB I-VP +cheap JJ B-NP +basement NN I-NP +space NN I-NP +, , O +near IN B-PP +the DT B-NP +boiler NN I-NP +room NN I-NP +. . O + +But CC O +, , O +says VBZ B-VP +Mr. NNP B-NP +Katz NNP I-NP +, , O +the DT B-NP +U.S. NNP I-NP +attorney NN I-NP +, , O +`` `` O +the DT B-NP +interesting JJ I-NP +thing NN I-NP +about IN B-PP +Newport NNP B-NP +Beach NNP I-NP +operations NNS I-NP +is VBZ B-VP +that IN B-SBAR +they PRP B-NP +give VBP B-VP +themselves PRP B-NP +the DT B-NP +indulgence NN I-NP +of IN B-PP +beautiful JJ B-NP +offices NNS I-NP +, , O +with IN B-PP +plush JJ B-NP +furnishings NNS I-NP +. . O + +When WRB B-ADVP +we PRP B-NP +go VBP B-VP +there EX B-ADVP +, , O +it PRP B-NP +'s VBZ B-VP +quite RB B-ADJP +different JJ I-ADJP +from IN B-PP +these DT B-NP +Hollywood NNP I-NP +places NNS I-NP +where WRB B-ADVP +the DT B-NP +sandwiches NNS I-NP +are VBP B-VP +spread NN I-VP +out IN B-PRT +on IN B-PP +the DT B-NP +table NN I-NP +and CC O +the DT B-NP +people NNS I-NP +are VBP B-VP +picking VBG I-VP +their PRP$ B-NP +noses NNS I-NP +. . O +'' '' O + +The DT B-NP +Newport NNP I-NP +Beach NNP I-NP +operators NNS I-NP +also RB B-ADVP +tend VBP B-VP +to TO I-VP +indulge VB I-VP +themselves PRP B-NP +privately RB B-ADVP +. . O + +Investigators NNS B-NP +cite VBP B-VP +the DT B-NP +case NN I-NP +of IN B-PP +Matthew NNP B-NP +Valentine NNP I-NP +, , O +who WP B-NP +is VBZ B-VP +currently RB I-VP +serving VBG I-VP +a DT B-NP +six-year JJ I-NP +sentence NN I-NP +at IN B-PP +Lompoc NNP B-NP +Federal NNP I-NP +Prison NNP I-NP +for IN B-PP +his PRP$ B-NP +role NN I-NP +in IN B-PP +Intech NNP B-NP +Investment NNP I-NP +Corp. NNP I-NP +, , O +which WDT B-NP +promised VBD B-VP +investors NNS B-NP +returns NNS B-NP +of IN B-PP +as RB B-NP +much JJ I-NP +as IN I-NP +625 CD I-NP +% NN I-NP +on IN B-PP +precious JJ B-NP +metals NNS I-NP +. . O + +Mr. NNP B-NP +Valentine NNP I-NP +, , O +who WP B-NP +pleaded VBD B-VP +guilty JJ B-ADJP +to TO B-PP +five CD B-NP +counts NNS I-NP +of IN B-PP +fraud NN B-NP +in IN B-PP +federal JJ B-NP +court NN I-NP +in IN B-PP +Los NNP B-NP +Angeles NNP I-NP +, , O +drove VBD B-VP +a DT B-NP +leased VBN I-NP +Mercedes NNP I-NP +and CC O +lived VBD B-VP +in IN B-PP +an DT B-NP +expensive JJ I-NP +home NN I-NP +on IN B-PP +Lido NNP B-NP +Isle NNP I-NP +, , O +an DT B-NP +island NN I-NP +in IN B-PP +Newport NNP B-NP +'s POS B-NP +harbor NN I-NP +, , O +according VBG B-PP +to TO B-PP +investigators NNS B-NP +. . O + +With IN B-PP +the DT B-NP +$ $ I-NP +3 CD I-NP +million CD I-NP +received VBD B-VP +from IN B-PP +investors NNS B-NP +, , O +he PRP B-NP +took VBD B-VP +frequent JJ B-NP +junkets NNS I-NP +with IN B-PP +friends NNS B-NP +to TO B-PP +exotic JJ B-NP +locales NNS I-NP +and CC O +leased VBD B-VP +an DT B-NP +expensive JJ I-NP +BMW NNP I-NP +for IN B-PP +his PRP$ B-NP +girlfriend NN I-NP +, , O +whom WP B-NP +he PRP B-NP +met VBD B-VP +at IN B-PP +the DT B-NP +shop NN I-NP +where WRB B-ADVP +he PRP B-NP +got VBD B-VP +his PRP$ B-NP +custom-tailored JJ I-NP +suits NNS I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +amazing JJ B-ADJP +the DT B-NP +amount NN I-NP +of IN B-PP +money NN B-NP +that WDT B-NP +goes VBZ B-VP +up IN B-PP +their PRP$ B-NP +nose NN I-NP +, , O +out IN B-PP +to TO B-PP +the DT B-NP +dog NN I-NP +track NN I-NP +or CC B-PP +to TO B-PP +the DT B-NP +tables NNS I-NP +in IN B-PP +Las NNP B-NP +Vegas NNP I-NP +, , O +'' '' O +Mr. NNP B-NP +Katz NNP I-NP +says VBZ B-VP +. . O + +All DT B-NP +this DT I-NP +talk NN I-NP +of IN B-PP +boiler NN B-NP +rooms NNS I-NP +and CC O +fraud NN B-NP +is VBZ B-VP +unnerving VBG B-ADJP +to TO B-PP +the DT B-NP +city NN I-NP +'s POS B-NP +legitimate JJ I-NP +business NN I-NP +element NN I-NP +. . O + +Vincent NNP B-NP +M NNP I-NP +Ciavarella NNP I-NP +, , O +regional JJ B-NP +manager NN I-NP +of IN B-PP +Property NNP B-NP +Management NNP I-NP +Systems NNPS I-NP +, , O +insists VBZ B-VP +he PRP B-NP +does VBZ B-VP +n't RB I-VP +know VB I-VP +of IN B-PP +any DT B-NP +bogus JJ I-NP +telemarketers NNS I-NP +operating VBG B-VP +in IN B-PP +the DT B-NP +1.6 CD I-NP +million CD I-NP +square NN I-NP +feet NNS I-NP +of IN B-PP +office NN B-NP +space NN I-NP +around IN B-PP +Fashion NNP B-NP +Island NNP I-NP +that IN B-NP +his PRP$ B-NP +company NN I-NP +leases NNS B-VP +for IN B-PP +Irvine NNP B-NP +Co. NNP I-NP +, , O +the DT B-NP +owner NN I-NP +and CC I-NP +developer NN I-NP +of IN B-PP +the DT B-NP +project NN I-NP +. . O + +Mr. NNP B-NP +Ciavarella NNP I-NP +has VBZ B-VP +rejected VBN I-VP +a DT B-NP +few JJ I-NP +prospective JJ I-NP +tenants NNS I-NP +who WP B-NP +provided VBD B-VP +`` `` B-NP +incomplete JJ I-NP +'' '' I-NP +financial JJ I-NP +information NN I-NP +and CC O +acknowledges VBZ B-VP +that IN B-SBAR +illegitimate JJ B-NP +operators NNS I-NP +`` `` O +are VBP B-VP +not RB O +easily RB B-ADJP +detectable JJ I-ADJP +. . O + +'' '' O +-LRB- ( O +Investigators NNS B-NP +stress VBP B-VP +that IN B-SBAR +building NN B-NP +owners NNS I-NP +are VBP B-VP +victims NNS B-NP +, , O +too RB B-ADVP +, , O +since IN B-SBAR +boiler NN B-NP +rooms NNS I-NP +often RB B-ADVP +leave VBP B-VP +without IN B-PP +paying VBG B-VP +rent NN B-NP +. . O +-RRB- ) O + +Richard NNP B-NP +Luehrs NNP I-NP +, , O +president NN B-NP +of IN B-PP +the DT B-NP +Newport NNP I-NP +Harbor NNP I-NP +Area NNP I-NP +Chamber NNP I-NP +of IN B-PP +Commerce NNP B-NP +, , O +calls VBZ B-VP +boiler NN B-NP +rooms NNS I-NP +a DT B-NP +`` `` I-NP +negative JJ I-NP +we PRP B-NP +wish VBP B-VP +we PRP B-NP +could MD B-VP +get VB I-VP +rid JJ I-VP +of IN B-PP +. . O +'' '' O + +Actually RB B-ADVP +, , O +`` `` O +we PRP B-NP +do VBP B-VP +n't RB I-VP +get VB I-VP +much JJ B-NP +negative JJ I-NP +publicity NN I-NP +about IN B-PP +this DT B-NP +, , O +'' '' O +he PRP B-NP +insists VBZ B-VP +, , O +`` `` O +except IN B-PP +for IN B-PP +the DT B-NP +press NN I-NP +who WP B-NP +write VBP B-VP +about IN B-PP +it PRP B-NP +. . O +'' '' O + +Mr. NNP B-NP +Lancaster NNP I-NP +is VBZ B-VP +deputy NN B-NP +chief NN I-NP +of IN B-PP +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +'s POS B-NP +Dallas NNP I-NP +bureau NN I-NP +. . O + +YOU PRP B-NP +WENT VBD B-VP +to TO B-PP +college NN B-NP +and CC O +thought VBD B-VP +you PRP B-NP +got VBD B-VP +an DT B-NP +education NN I-NP +. . O + +Now RB B-ADVP +you PRP B-NP +discover VBP B-VP +that IN B-SBAR +you PRP B-NP +never RB B-ADVP +learned VBD B-VP +the DT B-NP +most RBS I-NP +important JJ I-NP +lesson NN I-NP +: : O +How WRB B-ADVP +to TO B-VP +send VB I-VP +your PRP$ B-NP +kids NNS I-NP +to TO B-PP +college NN B-NP +. . O + +True JJ B-ADJP +, , O +when WRB B-ADVP +you PRP B-NP +went VBD B-VP +to TO B-PP +college NN B-NP +, , O +there EX B-NP +was VBD B-VP +n't RB O +that IN B-NP +much JJ I-NP +to TO B-VP +learn VB I-VP +. . O + +Stick NNP B-VP +some DT B-NP +money NN I-NP +in IN B-PP +an DT B-NP +interest-bearing JJ I-NP +account NN I-NP +and CC O +watch VB B-VP +it PRP B-NP +grow VB B-VP +. . O + +Now RB B-ADVP +, , O +investment NN B-NP +salesmen NNS I-NP +say VBP B-VP +it PRP B-NP +'s VBZ B-VP +time NN B-NP +to TO B-VP +take VB I-VP +some DT B-NP +risks NNS I-NP +if IN B-SBAR +you PRP B-NP +want VBP B-VP +the DT B-NP +kind NN I-NP +of IN B-PP +returns NNS B-NP +that WDT B-NP +will MD B-VP +buy VB I-VP +your PRP$ B-NP +toddler NN I-NP +a DT B-NP +ticket NN I-NP +to TO B-PP +Prestige NNP B-NP +U. NNP I-NP +in IN B-PP +18 CD B-NP +years NNS I-NP +. . O + +In IN B-PP +short JJ B-NP +, , O +throw VB B-VP +away RB B-ADVP +the DT B-NP +passbook NN I-NP +and CC O +go VB B-VP +for IN B-PP +the DT B-NP +glory NN I-NP +. . O + +The DT B-NP +reason NN I-NP +is VBZ B-VP +cost NN B-NP +. . O + +Nothing NN B-NP +in IN B-PP +the DT B-NP +annals NNS I-NP +of IN B-PP +tuition NN B-NP +readied VBD B-VP +parents NNS B-NP +for IN B-PP +the DT B-NP +1980s CD I-NP +. . O + +Tuitions NNS B-NP +at IN B-PP +private JJ B-NP +colleges NNS I-NP +rose VBD B-VP +154 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +10 CD I-NP +years NNS I-NP +ended VBD B-VP +in IN B-PP +June NNP B-NP +of IN B-PP +this DT B-NP +year NN I-NP +; : O +that DT B-NP +'s VBZ B-VP +twice RB B-NP +the DT I-NP +77 CD I-NP +% NN I-NP +increase NN I-NP +in IN B-PP +consumer NN B-NP +prices NNS I-NP +for IN B-PP +the DT B-NP +same JJ I-NP +period NN I-NP +. . O + +A DT B-NP +year NN I-NP +at IN B-PP +Harvard NNP B-NP +now RB B-ADVP +goes VBZ B-VP +for IN B-PP +$ $ B-NP +19,395 CD I-NP +. . O + +By IN B-PP +2007 CD B-NP +, , O +when WRB B-ADVP +this DT B-NP +year NN I-NP +'s POS B-NP +newborns NNS I-NP +hit VBD B-VP +campus NN B-NP +, , O +a DT B-NP +four-year JJ I-NP +Ivy NNP I-NP +League NNP I-NP +sheepskin NN I-NP +will MD B-VP +cost VB I-VP +$ $ B-NP +300,000 CD I-NP +, , O +give VB B-PP +or CC I-PP +take VB O +a DT B-NP +few JJ I-NP +pizzas-with-everything NNS I-NP +at IN B-PP +exam NN B-NP +time NN I-NP +. . O + +Stanford NNP B-NP +, , O +MIT NNP B-NP +and CC O +other JJ B-NP +utmosts NNS I-NP +will MD B-VP +cost VB I-VP +no DT B-NP +less JJR I-NP +. . O + +So RB O +what WP B-NP +'s VBZ O +a DT B-NP +parent NN I-NP +to TO B-VP +do VB I-VP +? . O + +Some DT B-NP +investment NN I-NP +advisers NNS I-NP +are VBP B-VP +suggesting VBG I-VP +, , O +in IN B-PP +effect NN B-NP +, , O +a DT B-NP +bet NN I-NP +on IN B-PP +a DT B-NP +start-up JJ I-NP +investment NN I-NP +pool NN I-NP +-- : B-PP +maybe RB I-PP +even RB I-PP +on IN B-PP +margin NN B-NP +. . O + +Others NNS B-NP +prefer VBP B-VP +deep-discount JJ B-NP +zero-coupon JJ I-NP +bonds NNS I-NP +. . O + +Still JJ B-NP +others NNS I-NP +say VBP B-VP +, , O +Why WRB B-ADVP +not RB O +take VB B-VP +a DT B-NP +chance NN I-NP +on IN B-PP +a DT B-NP +high-octane JJ I-NP +growth NN I-NP +fund NN I-NP +? . O + +`` `` O +You PRP B-NP +'re VBP B-VP +not RB I-VP +going VBG I-VP +to TO I-VP +make VB I-VP +it PRP B-NP +in IN B-PP +a DT B-NP +5 NN I-NP +% NN I-NP +bank NN I-NP +account NN I-NP +, , O +'' '' O +says VBZ B-VP +James NNP B-NP +Riepe NNP I-NP +, , O +director NN B-NP +of IN B-PP +mutual JJ B-NP +funds NNS I-NP +at IN B-PP +T. NNP B-NP +Rowe NNP I-NP +Price NNP I-NP +. . O + +To TO B-VP +get VB I-VP +the DT B-NP +necessary JJ I-NP +growth NN I-NP +, , O +adds VBZ B-VP +Murray NNP B-NP +Ruffel NNP I-NP +, , O +a DT B-NP +marketing NN I-NP +official NN I-NP +at IN B-PP +the DT B-NP +Financial NNP I-NP +Programs NNS I-NP +mutual-fund JJ I-NP +group NN I-NP +, , O +`` `` O +you PRP B-NP +need VBP B-VP +to TO I-VP +go VB I-VP +to TO B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +. . O +'' '' O + +In IN B-PP +other JJ B-NP +words NNS I-NP +, , O +a DT B-NP +little JJ I-NP +volatility NN I-NP +never RB B-ADVP +hurt VBD B-VP +. . O + +It PRP B-NP +never RB B-ADVP +hurt VBD B-VP +anyone NN B-NP +, , O +that DT B-INTJ +is VBZ I-INTJ +, , O +unless IN B-SBAR +the DT B-NP +growth NN I-NP +funds NNS I-NP +do VBP B-VP +n't RB I-VP +grow VB I-VP +when WRB B-ADVP +you PRP B-NP +need VBP B-VP +them PRP B-NP +to TO B-VP +. . O + +Or CC O +the DT B-NP +zero-coupon JJ I-NP +bonds NNS I-NP +turn VBP B-VP +out IN B-PRT +not RB O +to TO B-VP +have VB I-VP +been VBN I-VP +discounted VBN I-VP +deeply RB B-ADVP +enough RB I-ADVP +to TO B-VP +pay VB I-VP +your PRP$ B-NP +kid NN I-NP +'s POS B-NP +tuition NN I-NP +. . O + +That DT B-NP +'s VBZ B-VP +the DT B-NP +dilemma NN I-NP +for IN B-PP +today NN B-NP +'s POS B-NP +parent NN I-NP +. . O + +Although IN B-SBAR +many JJ B-NP +experts NNS I-NP +are VBP B-VP +advising VBG I-VP +risk NN B-NP +, , O +no DT B-NP +one CD I-NP +has VBZ B-VP +a DT B-NP +good JJ I-NP +answer NN I-NP +for IN B-PP +you PRP B-NP +if IN B-SBAR +the DT B-NP +risk NN I-NP +does VBZ B-VP +n't RB I-VP +pay VB I-VP +off RB B-PRT +. . O + +Help VB B-NP +may MD B-VP +be VB I-VP +on IN B-PP +the DT B-NP +way NN I-NP +. . O + +The DT B-NP +antitrust JJ I-NP +division NN I-NP +of IN B-PP +the DT B-NP +Justice NNP I-NP +Department NNP I-NP +is VBZ B-VP +investigating VBG I-VP +the DT B-NP +oddly RB I-NP +similar JJ I-NP +tuition NN I-NP +charges NNS I-NP +and CC I-NP +increases NNS I-NP +among IN B-PP +the DT B-NP +top JJ I-NP +schools NNS I-NP +. . O + +Fear NN B-NP +of IN B-PP +the DT B-NP +price NN I-NP +police NN I-NP +could MD B-VP +help VB I-VP +cool JJ I-VP +things NNS B-NP +off IN B-PRT +in IN B-PP +the DT B-NP +1990s CD I-NP +. . O + +And CC O +then RB B-ADVP +there EX B-NP +'s VBZ B-VP +always RB B-ADVP +State NNP B-NP +U NNP I-NP +. . O + +But CC O +parents NNS B-NP +' POS B-NP +craving NN I-NP +for IN B-PP +a DT B-NP +top-rated JJ I-NP +education NN I-NP +for IN B-PP +their PRP$ B-NP +children NNS I-NP +is VBZ B-VP +growing VBG I-VP +like IN B-PP +their PRP$ B-NP +taste NN I-NP +for IN B-PP +fancy JJ B-NP +wheels NNS I-NP +and CC O +vintage JJ B-NP +wine NN I-NP +. . O + +Belatedly RB B-ADVP +aware JJ B-ADJP +of IN B-PP +public JJ B-NP +concern NN I-NP +, , O +lawmakers NNS B-NP +and CC O +financial JJ B-NP +middlemen NNS I-NP +are VBP B-VP +working VBG I-VP +overtime NN B-ADVP +to TO B-VP +create VB I-VP +and CC I-VP +sell VB I-VP +college NN B-NP +savings NNS I-NP +and CC I-NP +investment NN I-NP +schemes NNS I-NP +. . O + +Their PRP$ B-NP +message NN I-NP +, , O +explicit JJ B-ADJP +or CC I-ADJP +implicit JJ I-ADJP +, , O +is VBZ B-VP +that IN B-SBAR +a DT B-NP +good JJ I-NP +college NN I-NP +will MD B-VP +cost VB I-VP +so RB B-NP +much JJ I-NP +by IN B-PP +whenever WRB B-ADVP +you PRP B-NP +want VBP B-VP +it PRP B-NP +that IN B-SBAR +the DT B-NP +tried VBN I-NP +and CC I-NP +true JJ I-NP +wo MD B-VP +n't RB I-VP +do VB I-VP +anymore RB B-ADVP +. . O + +Forget VB B-VP +about IN B-PP +Treasury NNP B-NP +bills NNS I-NP +or CC O +a DT B-NP +money-market JJ I-NP +fund NN I-NP +. . O + +The DT B-NP +latest JJS I-NP +wave NN I-NP +of IN B-PP +marketing NN B-NP +is VBZ B-VP +instructive JJ B-ADJP +. . O + +Several JJ B-NP +outfits NN I-NP +-- : O +including VBG B-PP +the DT B-NP +Financial NNP I-NP +Programs NNS I-NP +, , O +Franklin NNP B-NP +, , O +and CC O +T. NNP B-NP +Rowe NNP I-NP +Price NNP I-NP +mutual-fund JJ I-NP +groups NNS I-NP +and CC O +the DT B-NP +Edward NNP I-NP +D. NNP I-NP +Jones NNP I-NP +brokerage NN I-NP +house NN I-NP +-- : O +are VBP B-VP +advertising VBG I-VP +`` `` B-NP +college NN I-NP +planner NN I-NP +'' '' I-NP +tables NNS I-NP +and CC I-NP +charts NNS I-NP +that WDT B-NP +tell VBP B-VP +you PRP B-NP +how WRB B-NP +much JJ I-NP +you PRP B-NP +need VBP B-VP +to TO I-VP +put VB I-VP +aside RB B-ADVP +regularly RB B-ADVP +. . O + +The DT B-NP +calculations NNS I-NP +generally RB B-ADVP +rely VBP B-VP +on IN B-PP +an DT B-NP +after-tax JJ I-NP +rate NN I-NP +of IN B-PP +return NN B-NP +of IN B-PP +8 CD B-NP +% NN I-NP +annually RB B-ADVP +-- : O +a DT B-NP +rate NN I-NP +historically RB B-ADJP +obtainable JJ I-ADJP +by IN B-PP +the DT B-NP +individual NN I-NP +in IN B-PP +only RB B-NP +one CD I-NP +place NN I-NP +, , O +the DT B-NP +stock NN I-NP +market NN I-NP +. . O + +Most JJS B-NP +of IN B-PP +the DT B-NP +mailers NNS I-NP +are VBP B-VP +free JJ B-ADJP +, , O +but CC O +Denver-based NNP B-NP +Financial NNP I-NP +Programs NNS I-NP +sells VBZ B-VP +, , O +for IN B-PP +$ $ B-NP +15 CD I-NP +, , O +a DT B-NP +version NN I-NP +customized VBN B-VP +to TO B-PP +the DT B-NP +age NN I-NP +of IN B-PP +the DT B-NP +child NN I-NP +and CC O +the DT B-NP +college NN I-NP +of IN B-PP +choice NN B-NP +. . O + +The DT B-NP +figures NNS I-NP +are VBP B-VP +shocking JJ B-ADJP +. . O + +To TO B-VP +build VB I-VP +a DT B-NP +nest NN I-NP +egg NN I-NP +that WDT B-NP +would MD B-VP +pay VB I-VP +for IN B-PP +Stanford NNP B-NP +when WRB B-ADVP +a DT B-NP +current JJ I-NP +first-grader NN I-NP +reaches VBZ B-VP +college NN B-NP +age NN I-NP +, , O +parents NNS B-NP +would MD B-VP +need VB I-VP +to TO I-VP +set VB I-VP +aside RB B-ADVP +$ $ B-NP +773.94 CD I-NP +a DT B-NP +month NN I-NP +-- : O +for IN B-PP +12 CD B-NP +years NNS I-NP +. . O + +They PRP B-NP +can MD B-VP +cut VB I-VP +this DT B-NP +to TO B-PP +$ $ B-NP +691.09 CD I-NP +a DT B-NP +month NN I-NP +if IN B-SBAR +the DT B-NP +investing VBG I-NP +keeps VBZ B-VP +up IN B-PRT +through IN B-PP +college NN B-NP +. . O + +And CC O +they PRP B-NP +can MD B-VP +further VB I-VP +reduce VB I-VP +the DT B-NP +monthly JJ I-NP +amount NN I-NP +if IN B-SBAR +they PRP B-NP +start VBP B-VP +saving VBG I-VP +earlier RBR B-ADVP +-- : O +when WRB B-ADVP +mother NN B-NP +and CC I-NP +child NN I-NP +come VB B-VP +home NN B-NP +from IN B-PP +the DT B-NP +hospital NN I-NP +. . O + +Plugging VBG B-VP +a DT B-NP +cheaper JJR I-NP +college NN I-NP +into IN B-PP +the DT B-NP +formulas NNS I-NP +still RB B-ADVP +does VBZ B-VP +n't RB I-VP +generate VB I-VP +an DT B-NP +installment NN I-NP +most RBS B-NP +people NNS I-NP +can MD B-VP +live VB I-VP +with RB B-PP +. . O + +Using VBG B-VP +a DT B-NP +recent JJ I-NP +average JJ I-NP +private-school JJ I-NP +cost NN I-NP +of IN B-PP +about RB B-NP +$ $ I-NP +12,500 CD I-NP +a DT B-NP +year NN I-NP +, , O +T. NNP B-NP +Rowe NNP I-NP +Price NNP I-NP +'s POS B-NP +planner NN I-NP +prescribes VBZ B-VP +$ $ B-NP +450 CD I-NP +monthly JJ B-ADVP +if IN B-SBAR +the DT B-NP +plan NN I-NP +begins VBZ B-VP +when WRB B-ADVP +the DT B-NP +child NN I-NP +is VBZ B-VP +six CD B-NP +. . O + +Since IN B-SBAR +the DT B-NP +formula NN I-NP +assumes VBZ B-VP +an DT B-NP +8 CD I-NP +% NN I-NP +before-tax JJ I-NP +return NN I-NP +in IN B-PP +a DT B-NP +mutual JJ I-NP +fund NN I-NP +, , O +there EX B-NP +would MD B-VP +also RB I-VP +be VB I-VP +$ $ B-NP +16,500 CD I-NP +in IN B-PP +taxes NNS B-NP +to TO B-VP +pay VB I-VP +over IN B-PP +the DT B-NP +12 CD I-NP +years NNS I-NP +. . O + +Not RB B-NP +everyone NN I-NP +is VBZ B-VP +so RB B-ADJP +pessimistic JJ I-ADJP +. . O + +`` `` O +People NNS B-NP +are VBP B-VP +basically RB I-VP +peddling VBG I-VP +a DT B-NP +lot NN I-NP +of IN B-PP +fear NN B-NP +, , O +'' '' O +says VBZ B-VP +Arthur NNP B-NP +Hauptman NNP I-NP +, , O +a DT B-NP +consultant NN I-NP +to TO B-PP +the DT B-NP +American NNP I-NP +Council NNP I-NP +on IN B-PP +Education NNP B-NP +in IN B-PP +Washington NNP B-NP +. . O + +He PRP B-NP +takes VBZ B-VP +issue NN B-NP +with IN B-PP +projections NNS B-NP +that WDT B-NP +do VBP B-VP +n't RB O +factor VB B-NP +in IN B-PRT +students NNS B-NP +' POS B-NP +own JJ I-NP +contribution NN I-NP +, , O +which WDT B-NP +reduces VBZ B-VP +most RBS B-NP +parents NNS I-NP +' POS B-NP +burden NN I-NP +substantially RB B-ADVP +. . O + +Still RB B-ADVP +, , O +he PRP B-NP +says VBZ B-VP +, , O +`` `` O +it PRP B-NP +'s VBZ B-VP +no DT B-NP +bad JJ I-NP +thing NN I-NP +'' '' O +if IN B-SBAR +all PDT B-NP +the DT I-NP +marketing NN I-NP +prods VBZ B-VP +people NNS B-NP +into IN B-PP +putting VBG B-VP +aside RB B-ADVP +a DT B-NP +little RB I-NP +more JJR I-NP +. . O + +`` `` O +The DT B-NP +situation NN I-NP +you PRP B-NP +want VBP B-VP +to TO I-VP +avoid VB I-VP +is VBZ B-VP +having VBG B-VP +somebody NN B-NP +not RB B-VP +save VB I-VP +anything NN B-NP +and CC O +hope NN B-VP +they PRP B-NP +'ll MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +do VB I-VP +it PRP B-NP +out IN B-PP +of IN B-PP +current JJ B-NP +income NN I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +`` `` O +That DT B-NP +'s VBZ B-VP +crazy JJ B-ADJP +. . O +'' '' O + +His PRP$ B-NP +advice NN I-NP +: : O +Do VBP B-VP +n't RB I-VP +panic VB I-VP +. . O + +Parents NNS B-NP +, , O +he PRP B-NP +says VBZ B-VP +, , O +should MD B-VP +aim VB I-VP +at IN B-PP +whatever WDT B-NP +regular JJ I-NP +investment NN I-NP +sum NN I-NP +they PRP B-NP +can MD B-VP +afford VB I-VP +. . O + +Half NN B-NP +the DT B-NP +amount NN I-NP +that IN B-NP +the DT B-NP +investment NN I-NP +tables NNS I-NP +suggest VBP B-VP +might MD B-VP +be VB I-VP +a DT B-NP +good JJ I-NP +goal NN I-NP +, , O +he PRP B-NP +adds VBZ B-VP +. . O + +That DT B-NP +way NN I-NP +, , O +parents NNS B-NP +will MD B-VP +reduce VB I-VP +borrowings NNS B-NP +and CC O +outlays NNS B-NP +from IN B-PP +current JJ B-NP +income NN I-NP +when WRB B-ADVP +the DT B-NP +time NN I-NP +comes VBZ B-VP +to TO B-VP +pay VB I-VP +tuition NN B-NP +. . O + +Mr. NNP B-NP +Hauptman NNP I-NP +reckons VBZ B-VP +that IN B-SBAR +the DT B-NP +best JJS I-NP +investment NN I-NP +choice NN I-NP +is VBZ B-VP +mutual JJ B-NP +funds NNS I-NP +because IN B-SBAR +they PRP B-NP +are VBP B-VP +managed VBN I-VP +and CC O +over IN B-PP +time NN B-NP +have VBP B-VP +nearly RB B-ADVP +kept VBN B-VP +up IN B-PRT +with IN B-PP +the DT B-NP +broad JJ I-NP +stock NN I-NP +averages NNS I-NP +. . O + +He PRP B-NP +favors VBZ B-VP +either DT B-NP +an DT B-NP +all-stock JJ I-NP +fund NN I-NP +or CC O +a DT B-NP +balanced JJ I-NP +fund NN I-NP +that IN B-NP +mixes VBZ B-VP +both DT B-NP +stocks NNS I-NP +and CC I-NP +bonds NNS I-NP +. . O + +In IN B-PP +their PRP$ B-NP +anxiety NN I-NP +, , O +however RB B-ADVP +, , O +parents NNS B-NP +and CC O +other JJ B-NP +student NN I-NP +benefactors NNS I-NP +are VBP B-VP +flocking VBG I-VP +to TO B-PP +new JJ B-NP +schemes NNS I-NP +. . O + +They PRP B-NP +have VBP B-VP +laid VBN I-VP +out IN B-PRT +about RB B-NP +$ $ I-NP +1 CD I-NP +billion CD I-NP +for IN B-PP +so-called JJ B-NP +baccalaureate NN I-NP +zero-coupon JJ I-NP +municipal JJ I-NP +bonds NNS I-NP +-- : O +so RB B-VP +far RB I-VP +offered VBN I-VP +by IN B-PP +Connecticut NNP B-NP +, , O +Illinois NNP B-NP +, , O +Virginia NNP B-NP +and CC O +eight CD B-NP +other JJ I-NP +states NNS I-NP +. . O + +And CC O +they PRP B-NP +have VBP B-VP +bought VBN I-VP +about RB B-NP +$ $ I-NP +500 CD I-NP +million CD I-NP +in IN B-PP +prepaid-tuition JJ B-NP +plans NNS I-NP +, , O +offered VBN B-VP +in IN B-PP +Michigan NNP B-NP +, , I-NP +Florida NNP I-NP +and CC I-NP +Wyoming NNP I-NP +. . O + +The DT B-NP +prepaid JJ I-NP +plans NNS I-NP +take VBP B-VP +payment NN B-NP +today NN B-NP +-- : O +usually RB B-ADVP +at IN B-PP +current JJ B-NP +tuitions NNS I-NP +or CC B-PP +at IN B-PP +a DT B-NP +slight JJ I-NP +discount NN I-NP +-- : O +for IN B-PP +a DT B-NP +promise NN I-NP +that DT O +tuition NN B-NP +will MD B-VP +be VB I-VP +covered VBN I-VP +tomorrow NN B-NP +. . O + +The DT B-NP +baccalaureate NN I-NP +bonds NNS I-NP +-- : O +tax-free JJ B-ADJP +, , O +offered VBN B-VP +in IN B-PP +small JJ B-NP +denominations NNS I-NP +and CC O +usually RB B-VP +containing VBG I-VP +a DT B-NP +provision NN I-NP +that IN B-SBAR +they PRP B-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +called VBN I-VP +before IN B-PP +maturity NN B-NP +-- : O +seem VB B-VP +to TO I-VP +be VB I-VP +tailor-made JJ B-ADJP +for IN B-PP +college NN B-NP +savers NNS I-NP +. . O + +Like IN B-PP +other JJ B-NP +zeros NNS I-NP +, , O +they PRP B-NP +pay VBP B-VP +all DT B-NP +their PRP$ I-NP +interest NN I-NP +at IN B-PP +maturity NN B-NP +, , O +meaning NN B-VP +that IN B-SBAR +buyers NNS B-NP +can MD B-VP +time VB I-VP +things NNS B-NP +so RB B-SBAR +that IN I-SBAR +their PRP$ B-NP +bonds NNS I-NP +pay VBP B-VP +off IN B-PRT +just RB B-ADVP +when WRB I-ADVP +Junior JJ B-NP +graduates NNS B-VP +from IN B-PP +high JJ B-NP +school NN I-NP +. . O + +Their PRP$ B-NP +compounding NN I-NP +effect NN I-NP +is VBZ B-VP +also RB B-ADVP +alluring JJ B-ADJP +. . O + +In IN B-PP +June NNP B-NP +, , O +Virginia NNP B-NP +sold VBD B-VP +bonds NNS B-NP +for IN B-PP +$ $ B-NP +268.98 CD I-NP +that WDT B-NP +will MD B-VP +pay VB I-VP +$ $ B-NP +1,000 CD I-NP +in IN B-PP +2009 CD B-NP +. . O + +But CC O +Richard NNP B-NP +Anderson NNP I-NP +, , O +head NN B-NP +of IN B-PP +the DT B-NP +Forum NNP I-NP +for IN B-PP +College NNP B-NP +Financing NNP I-NP +Alternatives NNP I-NP +, , O +at IN B-PP +Columbia NNP B-NP +University NNP I-NP +, , O +a DT B-NP +research NN I-NP +group NN I-NP +partly RB B-VP +financed VBD I-VP +by IN B-PP +the DT B-NP +federal JJ I-NP +government NN I-NP +, , O +says VBZ B-VP +zeros NNS B-NP +are VBP B-VP +particularly RB B-ADJP +ill-suited JJ I-ADJP +. . O + +Their PRP$ B-NP +price NN I-NP +falls VBZ B-VP +further JJ B-ADVP +than IN B-PP +that DT B-NP +of IN B-PP +other JJ B-NP +bonds NNS I-NP +when WRB B-ADVP +inflation NN B-NP +and CC O +interest NN B-NP +rates NNS I-NP +kick VBP B-VP +up RB B-PRT +. . O + +That DT B-NP +wo MD B-VP +n't RB I-VP +matter VB I-VP +if IN B-SBAR +they PRP B-NP +are VBP B-VP +held VBN I-VP +to TO B-PP +maturity NN B-NP +, , O +but CC O +if IN B-SBAR +, , O +for IN B-PP +any DT B-NP +reason NN I-NP +, , O +the DT B-NP +parents NNS I-NP +need VBP B-VP +to TO I-VP +sell VB I-VP +them PRP B-NP +before IN B-PP +then RB B-NP +, , O +there EX B-NP +could MD B-VP +be VB I-VP +a DT B-NP +severe JJ I-NP +loss NN I-NP +of IN B-PP +principal NN B-NP +. . O + +Had VBD O +zeros NNS B-NP +been VBN B-VP +available JJ B-ADJP +in IN B-PP +1972 CD B-NP +and CC O +had VBD O +parents NNS B-NP +bought VBD B-VP +a DT B-NP +face NN I-NP +amount NN I-NP +equal JJ B-ADJP +to TO B-PP +four CD B-NP +years NNS I-NP +' POS B-NP +tuition NN I-NP +at IN B-PP +the DT B-NP +time NN I-NP +, , O +aiming VBG B-VP +for IN B-PP +their PRP$ B-NP +children NNS I-NP +'s POS B-NP +1988 CD I-NP +enrollment NN I-NP +, , O +they PRP B-NP +would MD B-VP +have VB I-VP +been VBN I-VP +left VBN I-VP +with IN B-PP +only RB B-NP +enough RB I-NP +to TO B-VP +pay VB I-VP +for IN B-PP +two CD B-NP +years NNS I-NP +, , O +Mr. NNP B-NP +Anderson NNP I-NP +figures VBZ B-VP +. . O + +Most JJS B-NP +other JJ I-NP +bonds NNS I-NP +, , O +however RB B-ADVP +, , O +would MD B-VP +probably RB I-VP +not RB I-VP +have VB I-VP +fared VBN I-VP +much RB B-ADVP +better JJR I-ADVP +. . O + +The DT B-NP +prepaid JJ I-NP +plans NNS I-NP +may MD B-VP +be VB I-VP +a DT B-NP +good JJ I-NP +bet NN I-NP +, , O +provided VBD B-PP +the DT B-NP +guarantee NN I-NP +of IN B-PP +future NN B-NP +tuition NN I-NP +is VBZ B-VP +secure VB B-ADJP +. . O + +Issuing VBG B-NP +states NNS I-NP +generally RB B-ADVP +limit VBP B-VP +the DT B-NP +guarantees NNS I-NP +to TO B-PP +in-state JJ B-NP +institutions NNS I-NP +, , O +however RB B-ADVP +, , O +and CC O +buyers NNS B-NP +get VBP B-VP +refunds NNS B-NP +without IN B-PP +much JJ B-NP +interest NN I-NP +if IN B-SBAR +the DT B-NP +children NNS I-NP +do VBP B-VP +n't RB I-VP +attend VB I-VP +the DT B-NP +specified VBN I-NP +schools NNS I-NP +. . O + +Two CD B-NP +private JJ I-NP +groups NNS I-NP +are VBP B-VP +seeking VBG I-VP +Securities NNPS B-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +approval NN I-NP +for IN B-PP +plans NNS B-NP +that WDT B-NP +could MD B-VP +be VB I-VP +more RBR B-ADVP +broadly RB I-ADVP +transferable JJ B-ADVP +. . O + +Mr. NNP B-NP +Anderson NNP I-NP +wants VBZ B-VP +the DT B-NP +prestige NN I-NP +colleges NNS I-NP +to TO B-VP +sponsor VB I-VP +such JJ B-NP +a DT I-NP +plan NN I-NP +. . O + +The DT B-NP +issue NN I-NP +here RB B-ADVP +may MD B-VP +be VB I-VP +the DT B-NP +soundness NN I-NP +of IN B-PP +the DT B-NP +guarantee NN I-NP +. . O + +Prepayments NNS B-NP +, , O +much JJ B-ADVP +like IN B-PP +mutual-fund JJ B-NP +purchases NNS I-NP +, , O +are VBP B-VP +pooled VBN I-VP +for IN B-PP +investment NN B-NP +. . O + +Sponsors NNS B-NP +are VBP B-VP +naturally RB I-VP +counting VBG I-VP +on IN B-PP +their PRP$ B-NP +ability NN I-NP +to TO B-VP +keep VB I-VP +ahead RB B-ADJP +of IN B-PP +tuition NN B-NP +inflation NN I-NP +with IN B-PP +investment NN B-NP +returns NNS I-NP +. . O + +But CC O +buyers NNS B-NP +are VBP B-VP +essentially RB I-VP +betting VBG I-VP +on IN B-PP +a DT B-NP +start-up JJ I-NP +investment NN I-NP +fund NN I-NP +with IN B-PP +no DT B-NP +track NN I-NP +record NN I-NP +-- : O +and CC O +some DT B-NP +have NN B-VP +been VBN I-VP +encouraged VBN I-VP +to TO I-VP +borrow VB I-VP +to TO B-VP +do VB I-VP +so RB B-ADVP +. . O + +One CD B-NP +problem NN I-NP +is VBZ B-VP +that IN B-SBAR +the DT B-NP +Internal NNP I-NP +Revenue NNP I-NP +Service NNP I-NP +has VBZ B-VP +decided VBN I-VP +that IN B-SBAR +the DT B-NP +investment NN I-NP +earnings NNS I-NP +and CC I-NP +gains NNS I-NP +of IN B-PP +the DT B-NP +sponsors NNS I-NP +' POS B-NP +funds NNS I-NP +are VBP B-VP +taxable JJ B-ADJP +. . O + +The DT B-NP +colleges NNS I-NP +, , O +as IN B-PP +educational JJ B-NP +institutions NNS I-NP +, , O +had VBD B-VP +hoped VBN I-VP +that WDT B-NP +would MD B-VP +n't RB I-VP +be VB I-VP +the DT B-NP +case NN I-NP +. . O + +Based VBN B-PP +on IN B-PP +historical JJ B-NP +rates NNS I-NP +of IN B-PP +return NN B-NP +, , O +Mr. NNP B-NP +Anderson NNP I-NP +reckons VBZ B-VP +a DT B-NP +100 CD I-NP +% NN I-NP +stock NN I-NP +portfolio NN I-NP +, , O +indexed VBN B-VP +to TO B-PP +the DT B-NP +market NN I-NP +, , O +would MD B-VP +have VB I-VP +kept VBN I-VP +up IN B-PRT +with IN B-PP +tuition NN B-NP +and CC I-NP +taxes NNS I-NP +in IN B-PP +the DT B-NP +20th JJ I-NP +century NN I-NP +. . O + +But CC O +sponsors NNS B-NP +might MD B-VP +not RB I-VP +pick VB I-VP +the DT B-NP +stocks NNS I-NP +that WDT B-NP +will MD B-VP +match VB I-VP +the DT B-NP +market NN I-NP +. . O + +And CC O +they PRP B-NP +'re VBP B-VP +leaning VBG I-VP +more RBR B-ADVP +toward IN B-PP +fixed VBN B-NP +income NN I-NP +, , O +whose WP$ B-NP +returns NNS I-NP +after IN B-PP +tax NN B-NP +have VBP B-VP +trailed VBN I-VP +tuition NN B-NP +increases NNS I-NP +. . O + +`` `` O +I PRP B-NP +'m VBP B-VP +not RB O +sure JJ B-ADJP +they PRP B-NP +'re VBP B-VP +going VBG I-VP +to TO I-VP +make VB I-VP +it PRP B-NP +work VB B-VP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Anderson NNP I-NP +. . O + +What WP B-NP +happens VBZ B-VP +if IN B-SBAR +the DT B-NP +sponsors NNS I-NP +do VBP B-VP +n't RB I-VP +have VB I-VP +the DT B-NP +cash NN I-NP +to TO B-VP +pay VB I-VP +the DT B-NP +tuitions NNS I-NP +? . O + +Florida NNP B-NP +and CC I-NP +Wyoming NNP I-NP +have VBP B-VP +backed VBN I-VP +up IN B-PRT +their PRP$ B-NP +guarantees NNS I-NP +with IN B-PP +the DT B-NP +full JJ I-NP +faith NN I-NP +and CC I-NP +credit NN I-NP +of IN B-PP +the DT B-NP +state NN I-NP +governments NNS I-NP +, , O +meaning NN B-VP +that IN B-SBAR +taxpayers NNS B-NP +will MD B-VP +pick VB I-VP +up IN B-PRT +any DT B-NP +slack NN I-NP +. . O + +Not RB B-ADVP +so RB I-ADVP +Michigan NNP B-NP +. . O + +Its PRP$ B-NP +plan NN I-NP +is VBZ B-VP +set VBN I-VP +up IN B-PRT +as IN B-PP +an DT B-NP +independent JJ I-NP +agency NN I-NP +. . O + +The DT B-NP +state NN I-NP +says VBZ B-VP +there EX B-NP +'s VBZ B-VP +no DT B-NP +worry NN I-NP +-- : O +investment NN B-NP +returns NNS I-NP +, , O +combined VBN B-VP +with IN B-PP +fees NNS B-NP +and CC O +the DT B-NP +gains NNS I-NP +from IN B-PP +unused JJ B-NP +plans NNS I-NP +, , O +will MD B-VP +provide VB I-VP +all PDT B-NP +the DT I-NP +cash NN I-NP +it PRP B-NP +needs VBZ B-VP +. . O + +Mr. NNP B-NP +Putka NNP I-NP +covers VBZ B-VP +education NN B-NP +from IN B-PP +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +'s POS B-NP +Boston NNP I-NP +bureau NN I-NP +. . O + +If IN B-SBAR +you PRP B-NP +start VBP B-VP +saving VBG I-VP +for IN B-PP +your PRP$ B-NP +child NN I-NP +'s POS B-NP +eduction NN I-NP +on IN B-PP +Jan. NNP B-NP +1 CD I-NP +, , I-NP +1990 CD I-NP +, , O +here RB B-ADVP +'s VBZ B-VP +the DT B-NP +monthly JJ I-NP +sum NN I-NP +you PRP B-NP +will MD B-VP +need VB I-VP +to TO I-VP +invest VB I-VP +to TO B-VP +pay VB I-VP +for IN B-PP +four CD B-NP +years NNS I-NP +at IN B-PP +Yale NNP B-NP +, , O +Notre NNP B-NP +Dame NNP I-NP +and CC O +University NNP B-NP +of IN B-PP +Minnesota NNP B-NP +. . O + +Figures NNS B-NP +assume VBP B-VP +a DT B-NP +7 CD I-NP +% NN I-NP +annual JJ I-NP +rise NN I-NP +in IN B-PP +tuition NN B-NP +, , O +fees NNS B-NP +, , O +room NN B-NP +and CC I-NP +board NN I-NP +and CC O +an DT B-NP +8 CD I-NP +% NN I-NP +annual JJ I-NP +investment NN I-NP +return NN I-NP +. . O + +Note VB B-VP +: : O +These DT B-NP +figures NNS I-NP +are VBP B-VP +only RB B-ADVP +for IN B-PP +mandatory JJ B-NP +charges NNS I-NP +and CC O +do VBP B-VP +n't RB I-VP +include VB I-VP +books NNS B-NP +, , O +transportation NN B-NP +etc FW B-NP +. . O + +\* SYM O +For IN B-PP +in-state JJ B-NP +students NNS I-NP + +Source NN B-NP +: : O +PaineWebber NNP B-NP +Inc NNP I-NP +. . O + +AMONG IN B-PP +THE DT B-NP +CATFISH NNS I-NP +farmers NNS I-NP +in IN B-PP +the DT B-NP +watery JJ I-NP +delta NN I-NP +land NN I-NP +of IN B-PP +Humphreys NNP B-NP +County NNP I-NP +, , O +Miss. NNP B-NP +, , O +Allen NNP B-NP +D. NNP I-NP +Tharp NNP I-NP +of IN B-PP +Isola NNP B-NP +was VBD B-VP +one CD B-NP +of IN B-PP +the DT B-NP +best RBS I-NP +known VBN I-NP +and CC I-NP +most RBS I-NP +enterprising JJ I-NP +. . O + +He PRP B-NP +sold VBD B-VP +quarter-inch JJ B-NP +fingerlings NNS I-NP +to TO B-VP +stock VB I-VP +other JJ B-NP +farmers NNS I-NP +' POS B-NP +ponds NNS I-NP +, , O +and CC O +he PRP B-NP +bought VBD B-VP +back RB B-ADVP +one-pound-or-so JJ B-NP +food-fish NNS I-NP +that IN B-NP +he PRP B-NP +`` `` B-VP +live-hauled VBD I-VP +'' '' O +to TO B-PP +market VB B-NP +along IN B-PP +with IN B-PP +his PRP$ B-NP +own JJ I-NP +whiskery JJ I-NP +crop NN I-NP +. . O + +And CC O +he PRP B-NP +nearly RB B-ADVP +always RB I-ADVP +bought VBD B-VP +and CC I-VP +sold VBN I-VP +for IN B-PP +cash NN B-NP +. . O + +Along IN B-PP +the DT B-NP +way NN I-NP +, , O +Mr. NNP B-NP +Tharp NNP I-NP +omitted VBD B-VP +a DT B-NP +total NN I-NP +of IN B-PP +$ $ B-NP +1.5 CD I-NP +million CD I-NP +from IN B-PP +his PRP$ B-NP +receipts NNS I-NP +reported VBD B-VP +on IN B-PP +federal JJ B-NP +tax NN I-NP +returns NNS I-NP +for IN B-PP +three CD B-NP +years NNS I-NP +. . O + +The DT B-NP +returns NNS I-NP +landed VBD B-VP +in IN B-PP +the DT B-NP +hands NNS I-NP +of IN B-PP +an DT B-NP +Internal NNP I-NP +Revenue NNP I-NP +Service NNP I-NP +criminal JJ I-NP +investigator NN I-NP +, , O +Samuel NNP B-NP +James NNP I-NP +Baker NNP I-NP +. . O + +Mr. NNP B-NP +Baker NNP I-NP +interviewed VBD B-VP +or CC O +wrote VBD B-VP +to TO B-PP +hundreds NNS B-NP +of IN B-PP +catfish NN B-NP +farmers NNS I-NP +, , O +live-haulers NNS B-NP +and CC O +processors NNS B-NP +throughout IN B-PP +the DT B-NP +South NNP I-NP +before IN B-PP +coming VBG B-VP +up IN B-PRT +with IN B-PP +detailed VBN B-NP +estimates NNS I-NP +of IN B-PP +purchases NNS B-NP +and CC I-NP +sales NNS I-NP +, , O +in IN B-PP +pounds NNS B-NP +and CC I-NP +dollars NNS I-NP +, , O +by IN B-PP +Mr. NNP B-NP +Tharp NNP I-NP +and CC O +others NNS B-NP +. . O + +Unknown JJ B-ADJP +to TO B-PP +Mr. NNP B-NP +Tharp NNP I-NP +, , O +he PRP B-NP +had VBD B-VP +fouled VBN I-VP +his PRP$ B-NP +net JJ I-NP +on IN B-PP +a DT B-NP +special JJ I-NP +IRS NNP I-NP +project NN I-NP +to TO B-VP +catch VB I-VP +catfish NN B-NP +farmers NNS I-NP +and CC O +haulers NNS B-NP +inclined VBN B-VP +to TO I-VP +cheat VB I-VP +on IN B-PP +their PRP$ B-NP +taxes NNS I-NP +. . O + +Confronted VBN B-VP +with IN B-PP +the DT B-NP +evidence NN I-NP +, , O +Mr. NNP B-NP +Tharp NNP I-NP +pleaded VBD B-VP +guilty JJ B-ADJP +to TO B-PP +one CD B-NP +charge NN I-NP +of IN B-PP +filing VBG B-VP +a DT B-NP +false JJ I-NP +return NN I-NP +and CC O +was VBD B-VP +fined VBN I-VP +$ $ B-NP +5,000 CD I-NP +and CC O +sentenced VBN B-VP +to TO B-PP +18 CD B-NP +months NNS I-NP +in IN B-PP +prison NN B-NP +. . O + +He PRP B-NP +also RB B-ADVP +owes VBZ B-VP +a DT B-NP +lot NN I-NP +of IN B-PP +back RB B-NP +taxes VBZ I-NP +, , O +interest NN B-NP +and CC O +civil JJ B-NP +fraud NN I-NP +penalties NNS I-NP +. . O + +A DT B-NP +lot NN I-NP +of IN B-PP +taxpayers NNS B-NP +out IN B-PP +there EX B-NP +are VBP B-VP +n't RB O +as RB B-ADJP +paranoid JJ I-ADJP +as IN B-SBAR +one PRP B-NP +might MD B-VP +think VB I-VP +. . O + +Federal NNP B-NP +and CC I-NP +state NN I-NP +tax NN I-NP +enforcers NNS I-NP +develop VBP B-VP +many JJ B-NP +group NN I-NP +targets NNS I-NP +for IN B-PP +investigation NN B-NP +, , O +on IN B-PP +the DT B-NP +basis NN I-NP +of IN B-PP +occupation NN B-NP +, , O +high JJ B-NP +income NN I-NP +, , O +type NN B-NP +of IN B-PP +income NN B-NP +, , O +or CC O +some DT B-NP +other JJ I-NP +characteristic JJ I-NP +that WDT B-NP +may MD B-VP +signal VB I-VP +an DT B-NP +opportunity NN I-NP +or CC I-NP +tendency NN I-NP +to TO B-VP +hide VB I-VP +income NN B-NP +or CC O +exaggerate VB B-VP +deductions NNS B-NP +. . O + +Many JJ B-NP +professions NNS I-NP +long JJ B-ADVP +have NN B-VP +seemed VBN I-VP +to TO I-VP +be VB I-VP +targets NNS B-NP +because IN B-PP +of IN I-PP +the DT B-NP +exotic JJ I-NP +or CC I-NP +ludicrous JJ I-NP +efforts NNS I-NP +of IN B-PP +some DT B-NP +members NNS I-NP +to TO B-VP +offset VB I-VP +high JJ B-NP +income NN I-NP +with IN B-PP +fake JJ B-NP +losses NNS I-NP +from IN B-PP +phony JJ B-NP +tax NN I-NP +shelters NNS I-NP +: : O +dentists NNS B-NP +who WP B-NP +invested VBD B-VP +in IN B-PP +dubiously RB B-NP +dubbed VBN I-NP +foreign JJ I-NP +films NNS I-NP +or CC O +airline NN B-NP +pilots NNS I-NP +who WP B-NP +raised VBD B-VP +racehorses NNS B-NP +on IN B-PP +their PRP$ B-NP +days NNS I-NP +off RB B-ADJP +. . O + +Mail-order NN B-NP +ministers NNS I-NP +have VBP B-VP +been VBN I-VP +squelched VBN I-VP +. . O + +Now RB B-ADVP +, , O +television NN B-NP +and CC I-NP +radio NN I-NP +evangelists NNS I-NP +are VBP B-VP +under IN B-PP +scrutiny NN B-NP +. . O + +The DT B-NP +IRS NNP I-NP +recently RB B-ADVP +won VBD B-VP +part NN B-NP +of IN B-PP +its PRP$ B-NP +long-running JJ I-NP +battle NN I-NP +with IN B-PP +the DT B-NP +Church NNP I-NP +of IN B-PP +Scientology NNP B-NP +over IN B-PP +exemptions NNS B-NP +when WRB B-ADVP +the DT B-NP +U.S. NNP I-NP +Supreme NNP I-NP +Court NNP I-NP +held VBD B-VP +that IN B-SBAR +members NNS B-NP +' POS B-NP +payments NNS I-NP +to TO B-PP +the DT B-NP +church NN I-NP +were VBD B-VP +n't RB O +deductible JJ B-ADJP +because IN B-SBAR +the DT B-NP +members NNS I-NP +received VBD B-VP +services NNS B-NP +in IN B-PP +return NN B-NP +. . O + +IRS NNP B-NP +statistics NNS I-NP +show VBP B-VP +that IN B-SBAR +the DT B-NP +more RBR I-NP +persistent JJ I-NP +hiders NNS I-NP +of IN B-PP +income NN B-NP +among IN B-PP +sole JJ B-NP +proprietors NNS I-NP +of IN B-PP +businesses NNS B-NP +include VBP B-VP +used-car NN B-NP +dealers NNS I-NP +, , O +entertainment NN B-NP +producers NNS I-NP +, , O +masons NNS B-NP +, , O +roofers NNS B-NP +, , O +and CC O +taxi NN B-NP +owners NNS I-NP +. . O + +Small JJ B-NP +businesses NNS I-NP +in IN B-PP +general JJ B-NP +account NN B-VP +for IN B-PP +almost RB B-NP +40 CD I-NP +% NN I-NP +of IN B-PP +unreported JJ B-NP +personal JJ I-NP +income NN I-NP +, , O +the DT B-NP +IRS NNP I-NP +has VBZ B-VP +said VBD I-VP +. . O + +Once RB B-SBAR +such JJ B-NP +abuses NNS I-NP +become VBP B-VP +so RB B-ADJP +pervasive JJ I-ADJP +, , O +the DT B-NP +IRS NNP I-NP +builds VBZ B-VP +another DT B-NP +factor NN I-NP +into IN B-PP +its PRP$ B-NP +secret JJ I-NP +computer NN I-NP +formula NN I-NP +for IN B-PP +selecting VBG B-VP +returns NNS B-NP +for IN B-PP +audit NN B-NP +and CC O +does VBZ B-VP +n't RB I-VP +need VB I-VP +special JJ B-NP +projects NNS I-NP +for IN B-PP +them PRP B-NP +. . O + +San NNP B-NP +Franciscans NNP I-NP +have VBP B-VP +a DT B-NP +much RB I-NP +higher JJR I-NP +incidence NN I-NP +of IN B-PP +audits NN B-NP +than IN B-PP +average JJ B-NP +because IN B-SBAR +more JJR B-NP +of IN B-PP +them PRP B-NP +score VBP B-VP +high JJ B-ADVP +under IN B-PP +that DT B-NP +formula NN I-NP +, , O +not RB O +because IN B-SBAR +IRS NNP B-NP +agents NNS I-NP +envy VBP B-VP +their PRP$ B-NP +life NN I-NP +styles NNS I-NP +. . O + +Many JJ B-NP +openings NNS I-NP +for IN B-PP +mass NN B-NP +cheating NN I-NP +, , O +such JJ B-PP +as IN I-PP +questionable JJ B-NP +tax NN I-NP +shelters NNS I-NP +and CC I-NP +home NN I-NP +offices NNS I-NP +, , O +have VBP B-VP +gaped VBN I-VP +so RB B-ADVP +broadly RB I-ADVP +that IN B-SBAR +Congress NNP B-NP +has VBZ B-VP +passed VBN I-VP +stringent JJ B-NP +laws NNS I-NP +to TO B-VP +close VB I-VP +them PRP B-NP +. . O + +Deductions NNS B-NP +of IN B-PP +charitable JJ B-NP +gifts NNS I-NP +of IN B-PP +highly RB B-NP +valued VBN I-NP +art NN I-NP +now RB B-ADVP +must MD B-VP +be VB I-VP +accompanied VBN I-VP +by IN B-PP +appraisals NNS B-NP +. . O + +And CC O +laws NNS B-NP +requiring VBG B-VP +the DT B-NP +reporting NN I-NP +of IN B-PP +more JJR B-NP +varieties NNS I-NP +of IN B-PP +transactions NNS B-NP +have VBP B-VP +enabled VBN I-VP +the DT B-NP +IRS NNP I-NP +to TO B-VP +rely VB I-VP +on IN B-PP +computers NNS B-NP +to TO B-VP +ferret VB I-VP +out RP B-PRT +discrepancies NNS B-NP +with IN B-PP +returns NNS B-NP +and CC O +to TO B-VP +generate VB I-VP +form-letter JJ B-NP +inquiries NNS I-NP +to TO B-PP +taxpayers NNS B-NP +. . O + +Unreported JJ B-NP +alimony NN I-NP +income NN I-NP +can MD B-VP +be VB I-VP +spotted VBN I-VP +by IN B-PP +computer NN B-NP +because IN B-SBAR +a DT B-NP +payer NN I-NP +of IN B-PP +alimony NN B-NP +-LRB- ( O +who WP B-NP +gets VBZ B-VP +a DT B-NP +deduction NN I-NP +-RRB- ) O +must MD B-VP +report VB I-VP +the DT B-NP +former JJ I-NP +spouse NN I-NP +'s POS B-NP +Social NNP I-NP +Security NNP I-NP +number NN I-NP +. . O + +Passport NN B-NP +applicants NNS I-NP +now RB B-ADVP +must MD B-VP +give VB I-VP +Social NNP B-NP +Security NNP I-NP +numbers NNS I-NP +, , O +enabling VBG B-VP +the DT B-NP +IRS NNP I-NP +to TO B-VP +see VB I-VP +whether IN B-SBAR +Americans NNPS B-NP +living VBG B-VP +abroad RB B-ADVP +are VBP B-VP +filing VBG I-VP +required VBN B-NP +U.S. NNP I-NP +returns NNS I-NP +. . O + +But CC O +while IN B-SBAR +IRS NNP B-NP +computers NNS I-NP +focus VBP B-VP +routinely RB B-ADVP +on IN B-PP +target NN B-NP +groups NNS I-NP +like IN B-PP +these DT B-NP +, , O +the DT B-NP +agency NN I-NP +has VBZ B-VP +assigned VBN I-VP +many JJ B-NP +agents NNS I-NP +to TO B-PP +special JJ B-NP +projects NNS I-NP +that WDT B-NP +need VBP B-VP +more RBR B-NP +personal JJ I-NP +attention NN I-NP +. . O + +In IN B-PP +most RBS B-NP +cases NNS I-NP +, , O +the DT B-NP +IRS NNP I-NP +says VBZ B-VP +, , O +these DT B-NP +projects NNS I-NP +are VBP B-VP +local JJ B-ADJP +or CC I-ADJP +regional JJ I-ADJP +, , O +rather RB B-PP +than IN I-PP +national JJ B-ADJP +, , O +and CC O +arise VB B-VP +because IN B-SBAR +auditors NNS B-NP +in IN B-PP +an DT B-NP +area NN I-NP +detect VB B-VP +some DT B-NP +pattern NN I-NP +of IN B-PP +abuse NN B-NP +among IN B-PP +, , O +say VBP B-INTJ +, , O +factory NN B-NP +workers NNS I-NP +claiming VBG B-VP +that IN B-SBAR +having VBG B-VP +a DT B-NP +multitude NN I-NP +of IN B-PP +dependents NNS B-NP +frees VBZ B-VP +them PRP B-NP +from IN B-PP +tax NN B-NP +withholding NN I-NP +or CC O +yacht NN B-NP +owners NNS I-NP +deducting VBG B-VP +losses NNS B-NP +from IN B-PP +sideline NN B-NP +charter NN I-NP +businesses NNS I-NP +. . O + +The DT B-NP +national JJ I-NP +office NN I-NP +currently RB B-ADVP +has VBZ B-VP +21 CD B-NP +noncriminal JJ I-NP +audit NN I-NP +projects NNS I-NP +, , O +according VBG B-PP +to TO B-PP +Marshall NNP B-NP +V. NNP I-NP +Washburn NNP I-NP +, , O +deputy NN B-NP +assistant NN I-NP +commissioner NN I-NP +for IN B-PP +examination NN B-NP +. . O + +Auditors NNS B-NP +involved VBN B-VP +in IN B-PP +noncriminal JJ B-NP +projects NNS I-NP +ca MD B-VP +n't RB I-VP +send VB I-VP +anyone NN B-NP +to TO B-PP +jail VB B-NP +, , O +but CC O +they PRP B-NP +can MD B-VP +make VB I-VP +life NN B-NP +miserable JJ B-ADJP +in IN B-PP +other JJ B-NP +ways NNS I-NP +-- : O +for IN B-PP +one CD B-NP +, , O +by IN B-PP +imposing VBG B-VP +some DT B-NP +of IN B-PP +the DT B-NP +150 CD I-NP +different JJ I-NP +civil JJ I-NP +penalties NNS I-NP +for IN B-PP +negligence NN B-NP +, , O +failure NN B-NP +to TO B-VP +file VB I-VP +a DT B-NP +return NN I-NP +, , O +and CC O +the DT B-NP +like NN I-NP +. . O + +The DT B-NP +targeted VBN I-NP +audit NN I-NP +groups NNS I-NP +include VBP B-VP +direct JJ B-NP +sellers NNS I-NP +-- : O +people NNS B-NP +who WP B-NP +sell VBP B-VP +cosmetics NNS B-NP +, , O +housewares NNS B-NP +and CC O +other JJ B-NP +items NNS I-NP +door NN B-ADVP +to TO I-ADVP +door NN I-ADVP +or CC O +at IN B-PP +home NN B-NP +parties NNS I-NP +-- : O +and CC O +employers NNS B-NP +who WP B-NP +label VBP B-VP +workers NNS B-NP +as IN B-PP +independent JJ B-NP +contractors NNS I-NP +instead RB B-PP +of IN I-PP +employees NNS B-NP +, , O +to TO B-VP +avoid VB I-VP +the DT B-NP +employer NN I-NP +share NN I-NP +of IN B-PP +payroll NN B-NP +taxes NNS I-NP +. . O + +Other JJ B-NP +projects NNS I-NP +look VBP B-VP +for IN B-PP +offenders NNS B-NP +among IN B-PP +waiters NNS B-NP +who WP B-NP +get VBP B-VP +cash NN B-NP +tips NNS I-NP +, , O +people NNS B-NP +who WP B-NP +engage VBP B-VP +in IN B-PP +large JJ B-NP +cash NN I-NP +transactions NNS I-NP +, , O +and CC O +people NNS B-NP +whose WP$ B-NP +returns NNS I-NP +show VBP B-VP +they PRP B-NP +sold VBD B-VP +a DT B-NP +home NN I-NP +for IN B-PP +a DT B-NP +profit NN I-NP +without IN B-PP +reinvesting VBG B-VP +the DT B-NP +capital NN I-NP +gain NN I-NP +in IN B-PP +another DT B-NP +home NN I-NP +by IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +same JJ I-NP +year NN I-NP +; : O +the DT B-NP +gain NN I-NP +must MD B-VP +be VB I-VP +rolled VBN I-VP +over IN B-PRT +within IN B-PP +two CD B-NP +years NNS I-NP +to TO B-VP +defer VB I-VP +tax NN B-NP +. . O + +And CC O +now RB B-SBAR +that IN I-SBAR +returns NNS B-NP +must MD B-VP +show VB I-VP +dependents NNS B-NP +' POS B-NP +Social NNP I-NP +Security NNP I-NP +numbers NNS I-NP +, , O +the DT B-NP +IRS NNP I-NP +wants VBZ B-VP +to TO I-VP +see VB I-VP +which WDT B-NP +dependents NNS I-NP +show VBP B-VP +up IN B-PRT +on IN B-PP +more JJR B-NP +than IN I-NP +one CD I-NP +return NN I-NP +-- : O +and CC O +which WDT B-NP +dependents NNS I-NP +turn VBP B-VP +out IN B-PRT +to TO B-VP +be VB I-VP +deceased JJ B-ADJP +. . O + +Impetus NN B-NP +for IN B-PP +the DT B-NP +direct-seller NN I-NP +project NN I-NP +came VBD B-VP +from IN B-PP +a DT B-NP +congressional JJ I-NP +hearing VBG I-NP +some DT B-NP +years NNS I-NP +back RB B-ADVP +. . O + +It PRP B-NP +prompted VBD B-VP +an DT B-NP +IRS NNP I-NP +study NN I-NP +that WDT B-NP +found VBD B-VP +many JJ B-NP +sellers NNS I-NP +were VBD B-VP +concealing VBG I-VP +income NN B-NP +and CC O +treating VBG B-VP +large JJ B-NP +amounts NNS I-NP +of IN B-PP +nondeductible JJ B-NP +travel NN I-NP +and CC O +other JJ B-NP +personal JJ I-NP +expenses NNS I-NP +as IN B-PP +business NN B-NP +costs NNS I-NP +, , O +Mr. NNP B-NP +Washburn NNP I-NP +says VBZ B-VP +. . O + +The DT B-NP +study NN I-NP +provided VBD B-VP +criteria NNS B-NP +for IN B-PP +singling VBG B-VP +out RP B-PRT +returns NNS B-NP +of IN B-PP +`` `` B-NP +potentially RB I-NP +noncompliant JJ I-NP +'' '' I-NP +taxpayers NNS I-NP +who WP B-NP +report VBP B-VP +low JJ B-NP +income NN I-NP +and CC O +large JJ B-NP +expenses NNS I-NP +from IN B-PP +a DT B-NP +part-time JJ I-NP +business NN I-NP +. . O + +The DT B-NP +Tax NNP I-NP +Court NNP I-NP +recently RB B-ADVP +denied VBD B-VP +business NN B-NP +deductions NNS I-NP +by IN B-PP +Mr. NNP B-NP +and CC I-NP +Mrs. NNP I-NP +Peter NNP I-NP +S. NNP I-NP +Rubin NNP I-NP +of IN B-PP +Cherry NNP B-NP +Hill NNP I-NP +, , O +N.J. NNP B-NP +, , O +who WP B-NP +both DT O +were VBD B-VP +part-time JJ B-NP +distributors NNS I-NP +of IN B-PP +Amway NNP B-NP +products NNS I-NP +in IN B-PP +addition NN B-NP +to TO B-PP +their PRP$ B-NP +regular JJ I-NP +jobs NNS I-NP +as IN B-PP +sales NNS B-NP +people NNS I-NP +in IN B-PP +other JJ B-NP +fields NNS I-NP +. . O + +For IN B-PP +1984 CD B-NP +, , O +they PRP B-NP +reported VBD B-VP +gross JJ B-NP +income NN I-NP +of IN B-PP +$ $ B-NP +1,647 CD I-NP +from IN B-PP +Amway NNP B-NP +sales NNS I-NP +, , O +offset VB B-VP +by IN B-PP +expenses NNS B-NP +totaling VBG B-VP +$ $ B-NP +16,746 CD I-NP +-- : O +including VBG B-PP +car NN B-NP +costs NNS I-NP +of IN B-PP +$ $ B-NP +6,805 CD I-NP +and CC O +travel NN B-NP +and CC I-NP +entertainment NN I-NP +costs NNS I-NP +of IN B-PP +$ $ B-NP +5,088 CD I-NP +. . O + +The DT B-NP +Tax NNP I-NP +Court NNP I-NP +did VBD B-VP +n't RB I-VP +believe VB I-VP +that IN B-SBAR +the DT B-NP +Rubins NNS I-NP +, , O +who WP B-NP +earned VBD B-VP +$ $ B-NP +65,619 CD I-NP +in IN B-PP +their PRP$ B-NP +regular JJ I-NP +jobs NNS I-NP +, , O +treated VBD B-VP +the DT B-NP +sideline NN I-NP +as IN B-PP +a DT B-NP +real JJ I-NP +business NN I-NP +and CC O +derived VBN B-VP +`` `` O +merely RB B-NP +incidental JJ I-NP +elements NNS I-NP +of IN B-PP +recreation NN B-NP +and CC O +other JJ B-NP +personal JJ I-NP +pleasure NN I-NP +and CC I-NP +benefits NNS I-NP +'' '' O +from IN B-PP +it PRP B-NP +. . O + +The DT B-NP +Direct JJ I-NP +Selling NNP I-NP +Association NNP I-NP +, , O +a DT B-NP +trade NN I-NP +group NN I-NP +, , O +points VBZ B-VP +out IN B-PRT +that IN B-SBAR +its PRP$ B-NP +members NNS I-NP +, , O +which WDT B-NP +include VBP B-VP +Amway NNP B-NP +Corp. NNP I-NP +, , O +cooperate VB B-VP +with IN B-PP +the DT B-NP +IRS NNP I-NP +to TO B-VP +distribute VB I-VP +tax-compliance NN B-NP +material NN I-NP +to TO B-PP +sales NNS B-NP +people NNS I-NP +and CC O +are VBP B-VP +helping VBG I-VP +to TO I-VP +prepare VB I-VP +a DT B-NP +public-service JJ I-NP +television NN I-NP +program NN I-NP +on IN B-PP +the DT B-NP +subject NN I-NP +. . O + +The DT B-NP +independent-contractor JJ I-NP +project NN I-NP +, , O +which WDT B-NP +began VBD B-VP +in IN B-PP +1988 CD B-NP +, , O +involves VBZ B-VP +about IN B-NP +350 CD I-NP +IRS NNP I-NP +agents NNS I-NP +. . O + +In IN B-PP +the DT B-NP +fiscal JJ I-NP +nine CD I-NP +months NNS I-NP +ended VBD B-VP +June NNP B-NP +30 CD I-NP +, , O +reports NNS B-VP +Raymond NNP B-NP +P. NNP I-NP +Keenan NNP I-NP +, , O +assistant NN B-NP +commissioner NN I-NP +for IN B-PP +collection NN B-NP +, , O +they PRP B-NP +examined VBD B-VP +about IN B-NP +13,000 CD I-NP +employers NNS I-NP +, , O +assessed VBN B-VP +more JJR B-NP +than IN I-NP +$ $ I-NP +67 CD I-NP +million CD I-NP +in IN B-PP +delinquent JJ B-NP +employment NN I-NP +taxes NNS I-NP +, , O +and CC O +reclassified VBD B-VP +about IN B-NP +56,000 CD I-NP +workers NNS I-NP +as IN B-PP +employees NNS B-NP +instead RB B-PP +of IN I-PP +self-employed JJ B-NP +contractors NNS I-NP +. . O + +The DT B-NP +number NN I-NP +of IN B-PP +misclassified VBN B-NP +workers NNS I-NP +may MD B-VP +be VB I-VP +in IN B-PP +the DT B-NP +millions NNS I-NP +, , O +mostly RB B-ADVP +paid VBN B-VP +by IN B-PP +small JJ B-NP +firms NNS I-NP +. . O + +Many JJ B-NP +workers NNS I-NP +, , B-NP +especially RB I-NP +professionals NNS B-NP +, , O +want VBP B-VP +to TO I-VP +remain VB I-VP +independent JJ B-ADJP +to TO B-VP +avoid VB I-VP +tax NN B-NP +withholding NN I-NP +and CC O +to TO B-VP +continue VB I-VP +to TO I-VP +deduct VB I-VP +many JJ B-NP +expenses NNS I-NP +that IN B-NP +employees NNS B-NP +ca MD B-VP +n't RB O +. . O + +But CC O +many JJ B-NP +others NNS I-NP +, , O +who WP B-NP +want VBP B-VP +to TO I-VP +qualify VB I-VP +for IN B-PP +employee NN B-NP +benefits NNS I-NP +and CC O +unemployment NN B-NP +compensation NN I-NP +, , O +become VB B-VP +tipsters NNS B-NP +for IN B-PP +the DT B-NP +IRS NNP I-NP +, , O +says VBZ B-VP +Jerry NNP B-NP +Lackey NNP I-NP +, , O +who WP B-NP +manages VBZ B-VP +the DT B-NP +IRS NNP I-NP +project NN I-NP +'s POS B-NP +force NN I-NP +of IN B-PP +nine CD B-NP +agents NNS I-NP +in IN B-PP +north RB B-NP +and CC I-NP +central JJ I-NP +Florida NNP I-NP +from IN B-PP +Orlando NNP B-NP +. . O + +Firms NNS B-NP +that WDT B-NP +are VBP B-VP +paying VBG I-VP +employment NN B-NP +taxes NNS I-NP +also RB B-ADVP +provide VBP B-VP +leads VBZ B-NP +to TO B-PP +competitors NNS B-NP +that WDT B-NP +are VBP B-VP +n't RB O +, , O +he PRP B-NP +says VBZ B-VP +. . O + +In IN B-PP +his PRP$ B-NP +area NN I-NP +, , O +Mr. NNP B-NP +Lackey NNP I-NP +continues VBZ B-VP +, , O +the DT B-NP +miscreant JJ I-NP +employers NNS I-NP +most RBS B-ADVP +commonly RB I-ADVP +are VBP B-VP +in IN B-PP +construction NN B-NP +-- : O +doing VBG B-VP +framing NN B-NP +, , O +drywall NN B-NP +, , O +masonry NN B-NP +and CC O +similar JJ B-NP +work NN I-NP +. . O + +But CC O +a DT B-NP +medical JJ I-NP +clinic NN I-NP +with IN B-PP +about IN B-NP +20 CD I-NP +employees NNS I-NP +wrongly RB B-VP +listed VBN I-VP +all DT B-NP +of IN B-PP +them PRP B-NP +-- : O +including VBG B-PP +physicians NNS B-NP +and CC I-NP +receptionists NNS I-NP +-- : O +as IN B-PP +independent JJ B-NP +contractors NNS I-NP +. . O + +The DT B-NP +IRS NNP I-NP +assessed VBD B-VP +the DT B-NP +clinic NN I-NP +$ $ B-NP +350,000 CD I-NP +in IN B-PP +back JJ B-NP +payroll NN I-NP +taxes NNS I-NP +. . O + +It PRP B-NP +assessed VBD B-VP +nearly RB B-NP +$ $ I-NP +500,000 CD I-NP +against IN B-PP +a DT B-NP +cruise-ship NN I-NP +company NN I-NP +that WDT B-NP +carried VBD B-VP +about IN B-NP +100 CD I-NP +deckhands NNS I-NP +, , I-NP +cooks NNS I-NP +, , I-NP +bartenders NNS I-NP +, , I-NP +entertainers NNS I-NP +and CC I-NP +other JJ I-NP +employees NNS I-NP +as IN B-PP +self-employed JJ B-NP +independents NNS I-NP +. . O + +Revenue-short JJ B-NP +states NNS I-NP +also RB B-ADVP +are VBP B-VP +becoming VBG I-VP +more RBR B-NP +aggressive JJ I-NP +pursuers NNS I-NP +of IN B-PP +tax NN B-NP +delinquents NNS I-NP +, , O +and CC O +perhaps RB B-ADVP +none NN B-NP +tracks VBZ B-VP +them PRP B-NP +down RB B-PRT +with IN B-PP +more JJR B-NP +relish NN I-NP +than IN B-SBAR +does VBZ B-VP +New NNP B-NP +York NNP I-NP +since IN B-SBAR +it PRP B-NP +acquired VBD B-VP +an DT B-NP +$ $ I-NP +80 CD I-NP +million CD I-NP +computer NN I-NP +system NN I-NP +in IN B-PP +1985 CD B-NP +. . O + +The DT B-NP +state NN I-NP +'s POS B-NP +tax NN I-NP +enforcers NNS I-NP +have VBP B-VP +amassed VBN I-VP +data NNS B-NP +bases NNS I-NP +from IN B-PP +other JJ B-NP +New NNP I-NP +York NNP I-NP +agencies NNS I-NP +that WDT B-NP +license VBP B-VP +or CC I-VP +register VB I-VP +professionals NNS B-NP +and CC I-NP +businesses NNS I-NP +; : O +from IN B-PP +exchange NN B-NP +agreements NNS I-NP +with IN B-PP +the DT B-NP +IRS NNP I-NP +, , O +24 CD B-NP +other JJ I-NP +states NNS I-NP +, , O +and CC O +two CD B-NP +Canadian JJ I-NP +provinces NNS I-NP +, , B-PP +and CC I-PP +even RB B-ADVP +from IN B-PP +phonebook NN B-NP +Yellow NNP I-NP +Pages NNPS I-NP +. . O + +Thus RB B-ADVP +armed VBN B-VP +for IN B-PP +massive JJ B-NP +matching NN I-NP +of IN B-PP +documents NNS B-NP +by IN B-PP +computer NN B-NP +, , O +they PRP B-NP +single JJ B-VP +out RP B-PRT +high-income JJ B-NP +groups NNS I-NP +, , O +looking VBG B-VP +primarily RB B-ADVP +for IN B-PP +people NNS B-NP +who WP B-NP +have VBP B-VP +n't RB I-VP +filed VBN I-VP +New NNP B-NP +York NNP I-NP +income-tax NN I-NP +returns NNS I-NP +. . O + +The DT B-NP +state NN I-NP +has VBZ B-VP +combed VBN I-VP +through IN B-PP +records NNS B-NP +relating VBG B-VP +to TO B-PP +architects NNS B-NP +, , O +stockbrokers NNS B-NP +, , O +lawyers NNS B-NP +in IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +City NNP I-NP +area NN I-NP +, , O +construction NN B-NP +workers NNS I-NP +from IN B-PP +out IN B-PP +of IN B-PP +the DT B-NP +state NN I-NP +, , O +and CC O +homeowners NNS B-NP +who WP B-NP +claim VBP B-VP +to TO I-VP +be VB I-VP +residents NNS B-NP +of IN B-PP +other JJ B-NP +states NNS I-NP +-- : B-NP +especially RB I-NP +Florida NNP B-NP +, , O +which WDT B-NP +has VBZ B-VP +no DT B-NP +personal JJ I-NP +income NN I-NP +tax NN I-NP +. . O + +Soon RB B-ADVP +to TO B-VP +feel VB I-VP +the DT B-NP +glare NN I-NP +of IN B-PP +attention NN B-NP +are VBP B-VP +lawyers NNS B-NP +elsewhere RB B-ADVP +in IN B-PP +the DT B-NP +state NN I-NP +, , O +doctors NNS B-NP +, , O +dentists NNS B-NP +, , O +and CC O +accountants NNS B-NP +, , O +says VBZ B-VP +Frederick NNP B-NP +G. NNP I-NP +Hicks NNP I-NP +, , O +director NN B-NP +of IN B-PP +the DT B-NP +tax-department JJ I-NP +division NN I-NP +that WDT B-NP +develops VBZ B-VP +the DT B-NP +computer-matching JJ I-NP +programs NNS I-NP +. . O + +The DT B-NP +department NN I-NP +has VBZ B-VP +collected VBN I-VP +over IN B-NP +$ $ I-NP +6.5 CD I-NP +million CD I-NP +from IN B-PP +brokers NNS B-NP +so RB B-ADVP +far RB I-ADVP +and CC O +recommended VBD B-VP +more JJR B-NP +than IN I-NP +30 CD I-NP +of IN B-PP +them PRP B-NP +for IN B-PP +criminal JJ B-NP +prosecution NN I-NP +. . O + +In IN B-PP +the DT B-NP +early JJ I-NP +stage NN I-NP +of IN B-PP +checking VBG B-VP +people NNS B-NP +with IN B-PP +incomes NNS B-NP +exceeding VBG B-VP +$ $ B-NP +500,000 CD I-NP +who WP B-NP +were VBD B-VP +filing VBG I-VP +nonresident JJ B-NP +returns NNS I-NP +, , O +it PRP B-NP +squeezed VBD B-VP +$ $ B-NP +7.5 CD I-NP +million CD I-NP +out IN B-PP +of IN B-PP +a DT B-NP +man NN I-NP +who WP B-NP +was VBD B-VP +posing VBG I-VP +as IN B-PP +a DT B-NP +Florida NNP I-NP +resident NN I-NP +. . O + +`` `` O +We PRP B-NP +think VBP B-VP +we PRP B-NP +can MD B-VP +reclaim VB I-VP +hundreds NNS B-NP +of IN I-NP +millions NNS I-NP +of IN B-PP +dollars NNS B-NP +just RB B-ADVP +through IN B-PP +the DT B-NP +nonresident JJ I-NP +project NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Hicks NNP I-NP +declares VBZ B-VP +. . O + +Mr. NNP B-NP +Schmedel NNP I-NP +is VBZ B-VP +editor NN B-NP +of IN B-PP +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +'s POS B-NP +Tax NNP I-NP +Report NNP I-NP +column NN I-NP +. . O + +In IN B-PP +finding VBG B-VP +`` `` O +good JJ B-NP +news NN I-NP +'' '' O +in IN B-PP +Berkeley NNP B-NP +'s POS B-NP +new JJ I-NP +freshman NN I-NP +admissions NNS I-NP +plan VBP I-NP +-LRB- ( O +`` `` O +The DT B-NP +Privileged NNP I-NP +Class NNP I-NP +, , O +'' '' O +editorial NN B-NP +, , O +Sept. NNP B-NP +20 CD I-NP +-RRB- ) O +, , O +you PRP B-NP +'re VBP B-VP +reading VBG I-VP +the DT B-NP +headline NN I-NP +but CC B-NP +not RB I-NP +the DT B-NP +story NN I-NP +. . O + +The DT B-NP +plan NN I-NP +indeed RB B-ADVP +raises VBZ B-VP +from IN B-PP +40 CD B-NP +% NN I-NP +to TO B-PP +50 CD B-NP +% NN I-NP +the DT B-NP +number NN I-NP +of IN B-PP +freshmen NNS B-NP +applicants NNS I-NP +admitted VBD B-VP +strictly RB B-ADVP +by IN B-PP +academic JJ B-NP +criteria NNS I-NP +. . O + +But CC O +that DT B-NP +does VBZ B-VP +n't RB I-VP +mean VB I-VP +`` `` O +half NN B-NP +of IN B-PP +the DT B-NP +students NNS I-NP +attending VBG B-VP +Berkeley NNP B-NP +'' '' O +will MD B-VP +be VB I-VP +admitted VBN I-VP +this DT B-NP +way NN I-NP +. . O + +The DT B-NP +plan NN I-NP +is VBZ B-VP +talking VBG I-VP +about IN B-PP +applicants NNS B-NP +admitted VBD B-VP +, , B-NP +not RB I-NP +students NNS B-NP +who WP B-NP +enroll VBP B-VP +. . O + +Since IN B-SBAR +the DT B-NP +`` `` I-NP +yield NN I-NP +'' '' O +from IN B-PP +this DT B-NP +top JJ I-NP +slice NN I-NP +of IN B-PP +applicants NNS B-NP +is VBZ B-VP +relatively RB B-ADJP +low JJ I-ADJP +, , O +boosting VBG B-VP +admits VBZ B-NP +from IN B-PP +40 CD B-NP +% NN I-NP +to TO B-PP +50 CD B-NP +% NN I-NP +will MD B-VP +boost VB I-VP +registrants NNS B-NP +from IN B-PP +about IN B-NP +31 CD I-NP +% NN I-NP +to TO B-PP +38 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +class NN I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +perhaps RB B-NP +5 VBP I-NP +% NN I-NP +of IN B-PP +registrants NNS B-NP +will MD B-VP +come VB I-VP +from IN B-PP +a DT B-NP +new JJ I-NP +category NN I-NP +consisting VBG B-VP +of IN B-PP +applicants NNS B-NP +whose WP$ B-NP +academic JJ I-NP +credentials NNS I-NP +`` `` O +narrowly RB B-VP +missed VBD I-VP +'' '' O +gaining VBG B-VP +them PRP B-NP +admission NN B-NP +in IN B-PP +the DT B-NP +first JJ I-NP +category NN I-NP +. . O + +But CC O +against IN B-PP +that DT B-NP +combined VBD I-NP +increase NN I-NP +of IN B-PP +12 CD B-NP +% NN I-NP +in IN B-PP +students NNS B-NP +chosen VBN B-VP +by IN B-PP +academic JJ B-NP +criteria NNS I-NP +, , O +the DT B-NP +plan NN I-NP +eliminates VBZ B-VP +a DT B-NP +large JJ I-NP +category NN I-NP +in IN B-PP +which WDT B-NP +admissions NNS B-NP +now RB B-ADVP +are VBP B-VP +based VBN I-VP +on IN B-PP +grades NNS B-NP +, , O +test NN B-NP +scores NNS I-NP +and CC O +`` `` O +supplemental JJ B-NP +points NNS I-NP +'' '' O +for IN B-PP +factors NNS B-NP +such JJ B-PP +as IN I-PP +high-school NN B-NP +curriculum NN I-NP +, , O +English-language JJ B-NP +proficiency NN I-NP +and CC O +an DT B-NP +essay NN I-NP +. . O + +This DT B-NP +category NN I-NP +now RB B-ADVP +accounts VBZ B-VP +for IN B-PP +about IN B-NP +19 CD I-NP +% NN I-NP +of IN B-PP +admits VBZ B-NP +and CC O +22 CD B-NP +% NN I-NP +of IN B-PP +registrants NNS B-NP +. . O + +The DT B-NP +plan NN I-NP +thus RB B-ADVP +will MD B-VP +decrease VB I-VP +by IN B-PP +22 CD B-NP +% NN I-NP +, , O +for IN B-PP +a DT B-NP +net JJ I-NP +loss NN I-NP +of IN B-PP +10 CD B-NP +% NN I-NP +, , O +the DT B-NP +number NN I-NP +of IN B-PP +students NNS B-NP +admitted VBD B-VP +primarily RB B-ADVP +by IN B-PP +academic JJ B-NP +criteria NNS I-NP +. . O + +Who WP B-NP +will MD B-VP +take VB I-VP +over IN B-PRT +these DT B-NP +places NNS I-NP +? . O + +The DT B-NP +plan NN I-NP +creates VBZ B-VP +a DT B-NP +new JJ I-NP +category NN I-NP +of IN B-PP +students NNS B-NP +from IN B-PP +`` `` O +socioeconomically RB B-NP +disadvantaged JJ I-NP +backgrounds NNS I-NP +, , O +'' '' O +a DT B-NP +concept NN I-NP +not RB B-VP +yet RB I-VP +defined VBN I-VP +, , O +and CC O +gives VBZ B-VP +them PRP B-NP +about IN B-NP +10 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +class NN I-NP +. . O + +One CD B-NP +of IN B-PP +the DT B-NP +plan NN I-NP +'s POS B-NP +authors NNS I-NP +has VBZ B-VP +defended VBN I-VP +the DT B-NP +`` `` I-NP +socioeconomic JJ I-NP +disadvantage NN I-NP +'' '' I-NP +category NN I-NP +as IN B-PP +perhaps RB B-ADVP +making VBG B-VP +more JJR B-NP +sense NN I-NP +than IN B-PP +the DT B-NP +current JJ I-NP +affirmative-action NN I-NP +preferences NNS I-NP +based VBN B-VP +on IN B-PP +race NN B-NP +. . O + +Perhaps RB B-ADVP +it PRP B-NP +does VBZ B-VP +. . O + +But CC O +the DT B-NP +new JJ I-NP +category NN I-NP +does VBZ B-VP +not RB I-VP +replace VB I-VP +or CC I-VP +reduce VB I-VP +Berkeley NNP B-NP +'s POS B-NP +broad JJ I-NP +racial JJ I-NP +preferences NNS I-NP +. . O + +Nor CC O +will MD O +students NNS B-NP +from IN B-PP +racial-minority JJ B-NP +groups NNS I-NP +who WP B-NP +are VBP B-VP +admitted VBN I-VP +through IN B-PP +the DT B-NP +new JJ I-NP +category NN I-NP +be VB B-VP +counted VBN I-VP +against IN B-PP +the DT B-NP +affirmative-action NN I-NP +`` `` I-NP +target NN I-NP +'' '' O +for IN B-PP +their PRP$ B-NP +group NN I-NP +. . O + +The DT B-NP +plan NN I-NP +thus RB B-ADVP +places VBZ B-VP +a DT B-NP +large JJ I-NP +new JJ I-NP +affirmative-action NN I-NP +program NN I-NP +, , O +based VBN B-VP +on IN B-PP +`` `` O +socioeconomic JJ B-NP +disadvantage NN I-NP +, , O +'' '' O +on IN B-PP +top NN B-NP +of IN B-PP +the DT B-NP +existing VBG I-NP +program NN I-NP +based VBN B-VP +on IN B-PP +race NN B-NP +. . O + +The DT B-NP +role NN I-NP +of IN B-PP +academic JJ B-NP +criteria NNS I-NP +in IN B-PP +choosing VBG B-VP +Berkeley NNP B-NP +'s POS B-NP +freshmen NNS I-NP +can MD B-VP +only RB I-VP +decline VB I-VP +as IN B-PP +a DT B-NP +result NN I-NP +. . O + +Stephen NNP B-NP +R. NNP I-NP +Barnett NNP I-NP +Professor NNP B-NP +of IN B-PP +Law NNP B-NP +University NNP B-NP +of IN B-PP +California NNP B-NP +Berkeley NNP B-NP +, , O +Calif NNP B-NP +. . O + +FOR IN B-PP +THOSE DT B-NP +WHO WP B-NP +DELIGHT VBP B-VP +in IN B-PP +the DT B-NP +misfortune NN I-NP +of IN B-PP +others NNS B-NP +, , O +read VB B-VP +on RB B-PRT +. . O + +This DT B-NP +is VBZ B-VP +a DT B-NP +story NN I-NP +about IN B-PP +suckers NNS B-NP +. . O + +Most JJS B-NP +of IN B-PP +us PRP B-NP +know VBP B-VP +a DT B-NP +sucker NN I-NP +. . O + +Many JJ B-NP +of IN B-PP +us PRP B-NP +are VBP B-VP +suckers NNS B-NP +. . O + +But CC O +what WP B-NP +we PRP B-NP +may MD B-VP +not RB I-VP +know VB I-VP +is VBZ B-VP +just RB B-NP +what WP I-NP +makes VBZ B-VP +somebody NN B-NP +a DT B-NP +sucker NN I-NP +. . O + +What WP B-NP +makes VBZ B-VP +people NNS B-NP +blurt VBP B-VP +out IN B-PRT +their PRP$ B-NP +credit-card NN I-NP +numbers NNS I-NP +to TO B-PP +a DT B-NP +caller NN I-NP +they PRP B-NP +'ve VBP B-VP +never RB I-VP +heard VBN I-VP +of RB B-PP +? . O + +Do VBP O +they PRP B-NP +really RB B-ADVP +believe VBP B-VP +that IN B-SBAR +the DT B-NP +number NN I-NP +is VBZ B-VP +just RB B-ADVP +for IN B-PP +verification NN B-NP +and CC O +is VBZ B-VP +simply RB B-NP +a DT I-NP +formality NN I-NP +on IN B-PP +the DT B-NP +road NN I-NP +to TO B-PP +being VBG B-VP +a DT B-NP +grand-prize NN I-NP +winner NN I-NP +? . O + +What WP B-NP +makes VBZ B-VP +a DT B-NP +person NN I-NP +buy NN B-VP +an DT B-NP +oil NN I-NP +well RB I-NP +from IN B-PP +some DT B-NP +stranger NN I-NP +knocking VBG B-VP +on IN B-PP +the DT B-NP +screen NN I-NP +door NN I-NP +? . O + +Or CC O +an DT B-NP +interest NN I-NP +in IN B-PP +a DT B-NP +retirement NN I-NP +community NN I-NP +in IN B-PP +Nevada NNP B-NP +that WDT B-NP +will MD B-VP +knock VB I-VP +your PRP$ B-NP +socks NNS I-NP +off IN B-ADVP +, , O +once RB B-SBAR +it PRP B-NP +is VBZ B-VP +built VBN I-VP +? . O + +Because IN B-SBAR +in IN B-PP +the DT B-NP +end NN I-NP +, , O +these DT B-NP +people NNS I-NP +always RB B-ADVP +wind VBP B-VP +up IN B-PRT +asking VBG B-VP +themselves PRP B-NP +the DT B-NP +same JJ I-NP +question NN I-NP +: : O +`` `` O +How WRB B-ADVP +could MD O +I PRP B-NP +be VB B-VP +so RB B-ADJP +stupid JJ I-ADJP +? . O +'' '' O + +There EX B-NP +are VBP B-VP +, , O +unfortunately RB B-ADVP +, , O +plenty NN B-NP +of IN B-PP +answers NNS B-NP +to TO B-PP +that DT B-NP +question NN I-NP +-- : O +and CC O +scam NN B-NP +artists NNS I-NP +know VBP B-VP +all DT B-NP +of IN B-PP +them PRP B-NP +. . O + +`` `` O +These DT B-NP +people NNS I-NP +are VBP B-VP +very RB B-ADJP +skilled JJ I-ADJP +at IN B-PP +finding VBG B-VP +out IN B-PRT +what WP B-NP +makes VBZ B-VP +a DT B-NP +person NN I-NP +tick NN B-VP +, , O +'' '' O +says VBZ B-VP +Kent NNP B-NP +Neal NNP I-NP +, , O +chief NN B-NP +of IN B-PP +the DT B-NP +economic-crime JJ I-NP +unit NN I-NP +of IN B-PP +the DT B-NP +Broward NNP I-NP +County NNP I-NP +State NNP I-NP +Attorney NNP I-NP +'s POS B-NP +Office NNP I-NP +in IN B-PP +Fort NNP B-NP +Lauderdale NNP I-NP +, , O +Fla. NNP B-NP +, , O +a DT B-NP +major JJ I-NP +haven NN I-NP +for IN B-PP +boiler NN B-NP +rooms NNS I-NP +. . O + +`` `` O +Once RB O +they PRP B-NP +size VBP B-VP +them PRP B-NP +up IN B-PRT +, , O +then RB B-ADVP +they PRP B-NP +know VBP B-VP +what WP B-NP +buttons NNS I-NP +to TO B-VP +push VB I-VP +. . O +'' '' O + +John NNP B-NP +Blodgett NNP I-NP +agrees VBZ B-VP +-- : O +and CC O +he PRP B-NP +ought MD B-VP +to TO I-VP +know VB I-VP +. . O + +He PRP B-NP +used VBD B-VP +to TO I-VP +be VB I-VP +a DT B-NP +boiler-room NN I-NP +salesman NN I-NP +, , O +peddling VBG B-VP +investments NNS B-NP +in IN B-PP +oil NN B-NP +and CC I-NP +gas NN I-NP +wells NNS I-NP +and CC O +rare JJ B-NP +coins NNS I-NP +. . O + +`` `` O +There EX B-NP +'s VBZ B-VP +a DT B-NP +definite JJ I-NP +psychology NN I-NP +of IN B-PP +the DT B-NP +sale NN I-NP +and CC O +different JJ B-NP +personalities NNS I-NP +you PRP B-NP +pitch VBP B-VP +different JJ B-NP +ways NNS I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +The DT B-NP +most RBS I-NP +obvious JJ I-NP +pitch NN I-NP +, , O +of IN B-PP +course NN B-NP +, , O +is VBZ B-VP +the DT B-NP +lure NN I-NP +of IN B-PP +big JJ B-NP +returns NNS I-NP +. . O + +`` `` O +We PRP B-NP +'re VBP B-VP +all PDT O +a DT B-NP +little JJ I-NP +greedy JJ B-ADJP +. . O + +Everyone NN B-NP +is VBZ B-VP +vulnerable JJ B-ADJP +, , O +'' '' O +says VBZ B-VP +Charles NNP B-NP +Harper NNP I-NP +, , O +associate JJ B-NP +regional JJ I-NP +administrator NN I-NP +for IN B-PP +the DT B-NP +Securities NNP I-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +in IN B-PP +Miami NNP B-NP +. . O + +`` `` O +These DT B-NP +guys NNS I-NP +prey VBP B-VP +on IN B-PP +human JJ B-NP +frailties NNS I-NP +. . O +'' '' O + +While IN B-SBAR +the DT B-NP +promises NNS I-NP +of IN B-PP +big JJ B-NP +profits NNS I-NP +ought MD B-VP +to TO I-VP +set VB I-VP +off IN B-PRT +warning NN B-NP +bells NNS I-NP +, , O +they PRP B-NP +often RB B-ADVP +do VBP B-VP +n't RB O +, , O +in IN B-PP +part NN B-NP +because IN B-SBAR +get-rich-quick JJ B-NP +tales NNS I-NP +have VBP B-VP +become VBN I-VP +embedded VBN I-VP +in IN B-PP +American JJ B-NP +folklore NN I-NP +. . O + +`` `` O +The DT B-NP +overnight JJ I-NP +success NN I-NP +story NN I-NP +is VBZ B-VP +part NN B-NP +of IN B-PP +our PRP$ B-NP +culture NN I-NP +, , O +and CC O +our PRP$ B-NP +society NN I-NP +puts VBZ B-VP +an DT B-NP +emphasis NN I-NP +on IN B-PP +it PRP B-NP +with IN B-PP +lotteries NNS B-NP +and CC O +Ed NNP B-NP +McMahon NNP I-NP +making VBG B-VP +millionaires NNS B-NP +out IN B-ADVP +of IN B-PP +people NNS B-NP +, , O +'' '' O +says VBZ B-VP +Michael NNP B-NP +Cunningham NNP I-NP +, , O +an DT B-NP +associate JJ I-NP +professor NN I-NP +of IN B-PP +psychology NN B-NP +at IN B-PP +the DT B-NP +University NNP I-NP +of IN B-PP +Kentucky NNP B-NP +in IN B-PP +Louisville NNP B-NP +. . O + +`` `` O +Other JJ B-NP +people NNS I-NP +are VBP B-VP +making VBG I-VP +it PRP B-NP +overnight JJ B-ADVP +, , O +and CC O +the DT B-NP +rest NN I-NP +who WP B-NP +toil VBP B-VP +daily JJ B-ADVP +do NN B-VP +n't RB I-VP +want VB I-VP +to TO I-VP +miss VB I-VP +that DT B-NP +opportunity NN I-NP +when WRB B-ADVP +it PRP B-NP +seems VBZ B-VP +to TO I-VP +come VB I-VP +along IN B-PRT +. . O +'' '' O + +Adds VBZ B-VP +Spencer NNP B-NP +Barasch NNP I-NP +, , O +branch NN B-NP +chief NN I-NP +for IN B-PP +enforcement NN B-NP +at IN B-PP +the DT B-NP +SEC NNP I-NP +in IN B-PP +Fort NNP B-NP +Worth NNP I-NP +, , O +Texas NNP B-NP +: : O +`` `` O +Why WRB B-ADVP +do VBP O +people NNS B-NP +play VB B-VP +the DT B-NP +lottery NN I-NP +when WRB B-ADVP +the DT B-NP +odds NNS I-NP +are VBP B-VP +great JJ B-ADJP +against IN B-PP +them PRP B-NP +? . O + +People NNS B-NP +are VBP B-VP +shooting VBG I-VP +for IN B-PP +a DT B-NP +dream NN I-NP +. . O +'' '' O + +Clearly RB B-ADVP +, , O +though RB B-ADVP +, , O +scam NN B-NP +artists NNS I-NP +have VBP B-VP +to TO I-VP +be VB I-VP +a DT B-NP +bit NN I-NP +more RBR B-ADJP +subtle JJ I-ADJP +than IN B-PP +simply RB B-ADVP +promising JJ B-VP +millions NNS B-NP +; : O +the DT B-NP +psychology NN I-NP +of IN B-PP +suckers NNS B-NP +is VBZ B-VP +n't RB O +simply RB B-ADVP +the DT B-NP +psychology NN I-NP +of IN B-PP +the DT B-NP +greedy JJ I-NP +. . O + +There EX B-NP +'s VBZ B-VP +also RB B-ADVP +, , O +for IN B-PP +instance NN B-NP +, , O +the DT B-NP +need NN I-NP +to TO B-VP +be VB I-VP +part NN B-NP +of IN B-PP +the DT B-NP +in-crowd NN I-NP +. . O + +So RB O +one CD B-NP +popular JJ I-NP +ploy NN I-NP +is VBZ B-VP +to TO B-VP +make VB I-VP +a DT B-NP +prospective JJ I-NP +investor NN I-NP +feel NN B-VP +like IN B-PP +an DT B-NP +insider NN I-NP +, , O +joining VBG B-VP +an DT B-NP +exclusive JJ I-NP +group NN I-NP +that WDT B-NP +is VBZ B-VP +about IN O +to TO B-VP +make VB I-VP +a DT B-NP +killing NN I-NP +. . O + +Between IN B-PP +1978 CD B-NP +and CC I-NP +1987 CD I-NP +, , O +for IN B-PP +instance NN B-NP +, , O +SH NNP B-NP +Oil NNP I-NP +in IN B-PP +Winter NNP B-NP +Haven NNP I-NP +, , O +Fla. NNP B-NP +, , O +sold VBN B-VP +interests NNS B-NP +in IN B-PP +oil NN B-NP +wells NNS I-NP +to TO B-PP +a DT B-NP +very RB I-NP +select VB I-NP +group NN I-NP +of IN B-PP +local JJ B-NP +residents NNS I-NP +, , O +while IN B-SBAR +turning VBG B-VP +away RB B-ADVP +numerous JJ B-NP +other JJ I-NP +eager JJ I-NP +investors NNS I-NP +. . O + +The DT B-NP +owner NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +, , O +Stephen NNP B-NP +Smith NNP I-NP +, , O +who WP B-NP +has VBZ B-VP +since IN I-VP +pleaded VBN I-VP +guilty JJ B-ADJP +to TO B-PP +state VB B-NP +and CC I-NP +federal JJ I-NP +fraud NN I-NP +charges NNS I-NP +, , O +confided VBD B-VP +to TO B-PP +investors NNS B-NP +that IN B-SBAR +he PRP B-NP +had VBD B-VP +a DT B-NP +secret JJ I-NP +agreement NN I-NP +with IN B-PP +Amoco NNP B-NP +Oil NNP I-NP +Co. NNP I-NP +and CC O +said VBD B-VP +the DT B-NP +location NN I-NP +of IN B-PP +his PRP$ B-NP +wells NNS I-NP +was VBD B-VP +confidential JJ B-ADJP +, , O +according VBG B-PP +to TO B-PP +a DT B-NP +civil JJ I-NP +suit NN I-NP +filed VBN B-VP +in IN B-PP +a DT B-NP +Florida NNP I-NP +state NN I-NP +court NN I-NP +by IN B-PP +the DT B-NP +Florida NNP I-NP +comptroller NN I-NP +'s POS B-NP +office NN I-NP +. . O + +Neither CC O +the DT B-NP +Amoco NNP I-NP +agreement NN I-NP +nor CC O +the DT B-NP +wells NNS I-NP +existed VBD B-VP +, , O +the DT B-NP +suit NN I-NP +alleged VBN B-VP +. . O + +Such JJ B-NP +schemes NNS I-NP +, , O +says VBZ B-VP +Tony NNP B-NP +Adamski NNP I-NP +, , O +chief NN B-NP +of IN B-PP +the DT B-NP +financial-crimes NNS I-NP +unit NN I-NP +of IN B-PP +the DT B-NP +Federal NNP I-NP +Bureau NNP I-NP +of IN B-PP +Investigation NNP B-NP +in IN B-PP +Washington NNP B-NP +, , O +D.C. NNP B-NP +, , O +appeal NN B-VP +to TO B-PP +investors NNS B-NP +' POS B-NP +`` `` I-NP +desire NN I-NP +to TO B-VP +believe VB I-VP +this DT B-NP +is VBZ B-VP +really RB B-ADVP +true JJ B-ADJP +and CC O +that IN B-SBAR +they PRP B-NP +are VBP B-VP +part NN B-NP +of IN B-PP +a DT B-NP +chosen VBN I-NP +group NN I-NP +being VBG B-VP +given VBN I-VP +this DT B-NP +opportunity NN I-NP +. . O +'' '' O + +At IN B-PP +times NNS B-NP +, , O +salesmen NNS B-NP +may MD B-VP +embellish VB I-VP +the DT B-NP +inside JJ I-NP +information NN I-NP +with IN B-PP +`` `` O +the DT B-NP +notion NN I-NP +that IN B-SBAR +this DT B-NP +is VBZ B-VP +some DT B-NP +slightly RB I-NP +shady JJ I-NP +, , I-NP +slightly RB I-NP +illegal JJ I-NP +investment NN I-NP +the DT B-NP +person NN I-NP +is VBZ B-VP +being VBG I-VP +included VBN I-VP +in IN B-PP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Cunningham NNP I-NP +. . O + +In IN B-PP +appealing JJ B-VP +to TO B-PP +those DT B-NP +with IN B-PP +a DT B-NP +bit NN I-NP +of IN B-PP +larceny NN B-NP +in IN B-PP +their PRP$ B-NP +hearts NNS I-NP +, , O +the DT B-NP +fraud NN I-NP +artist NN I-NP +can MD B-VP +insist VB I-VP +that IN B-SBAR +a DT B-NP +person NN I-NP +keep NN B-VP +an DT B-NP +investment NN I-NP +secret JJ B-ADJP +-- : O +insulating VBG B-VP +himself PRP B-NP +from IN B-PP +being VBG B-VP +discovered VBN I-VP +and CC O +keeping VBG B-VP +his PRP$ B-NP +victim NN I-NP +from IN B-PP +consulting NN B-VP +with IN B-PP +others NNS B-NP +. . O + +It PRP B-NP +also RB B-ADVP +adds VBZ B-VP +to TO B-PP +the DT B-NP +mystery NN I-NP +of IN B-PP +the DT B-NP +venture NN I-NP +. . O + +Mr. NNP B-NP +Blodgett NNP I-NP +, , O +the DT B-NP +boiler-room NN I-NP +veteran NN I-NP +, , O +believes VBZ B-VP +that IN B-SBAR +for IN B-PP +many JJ B-NP +investors NNS I-NP +, , O +the DT B-NP +get-rich-quick JJ I-NP +scams NNS I-NP +carry VBP B-VP +a DT B-NP +longed-for JJ I-NP +element NN I-NP +of IN B-PP +excitement NN B-NP +. . O + +`` `` O +Once RB B-SBAR +people NNS B-NP +got VBD B-VP +into IN B-PP +it PRP B-NP +, , O +I PRP B-NP +was VBD B-VP +allowing VBG I-VP +them PRP B-NP +to TO B-VP +live VB I-VP +a DT B-NP +dream NN I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +He PRP B-NP +phoned VBD B-VP +them PRP B-NP +with IN B-PP +updates NNS B-NP +on IN B-PP +the DT B-NP +investment NN I-NP +, , O +such JJ B-PP +as IN I-PP +`` `` O +funny JJ B-NP +things NNS I-NP +that WDT B-NP +happened VBD B-VP +at IN B-PP +the DT B-NP +well RB I-NP +that DT B-NP +week NN I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +`` `` O +You PRP B-NP +gave VBD B-VP +them PRP B-NP +some DT B-NP +excitement NN I-NP +that IN B-NP +they PRP B-NP +did VBD B-VP +n't RB I-VP +have VB I-VP +in IN B-PP +their PRP$ B-NP +lives NNS I-NP +. . O +'' '' O + +-LRB- ( O +Mr. NNP B-NP +Blodgett NNP I-NP +, , O +who WP B-NP +was VBD B-VP +convicted VBN I-VP +in IN B-PP +Florida NNP B-NP +state NN I-NP +court NN I-NP +of IN B-PP +selling VBG B-VP +unregistered JJ B-NP +securities NNS I-NP +and CC O +in IN B-PP +California NNP B-NP +state NN I-NP +court NN I-NP +of IN B-PP +unlawful JJ B-NP +use NN I-NP +of IN B-PP +the DT B-NP +telephone NN I-NP +to TO B-VP +defraud VB I-VP +and CC I-VP +deceive VB I-VP +, , O +is VBZ B-VP +now RB B-ADVP +on IN B-PP +probation NN B-NP +. . O + +He PRP B-NP +says VBZ B-VP +he PRP B-NP +has VBZ B-VP +quit VBN I-VP +the DT B-NP +business NN I-NP +and CC O +is VBZ B-VP +back RB B-ADVP +in IN B-PP +school NN B-NP +, , O +majoring VBG B-VP +in IN B-PP +psychology NN B-NP +with IN B-PP +aspirations NNS B-NP +to TO B-VP +go VB I-VP +into IN B-PP +industrial JJ B-NP +psychology NN I-NP +. . O +-RRB- ) O + +For IN B-PP +some DT B-NP +investors NNS I-NP +, , O +it PRP B-NP +'s VBZ B-VP +the DT B-NP +appearances NNS I-NP +that WDT B-NP +leave VBP B-VP +them PRP B-NP +deceived VBD B-ADJP +. . O + +`` `` O +The DT B-NP +trappings NNS I-NP +of IN B-PP +success NN B-NP +go NN B-VP +a DT B-NP +long JJ I-NP +way NN I-NP +-- : O +wearing VBG B-VP +the DT B-NP +right NN I-NP +clothes NNS I-NP +, , O +doing VBG B-VP +the DT B-NP +right NN I-NP +things NNS I-NP +, , O +'' '' O +says VBZ B-VP +Paul NNP B-NP +Andreassen NNP I-NP +, , O +an DT B-NP +associate JJ I-NP +professor NN I-NP +of IN B-PP +psychology NN B-NP +at IN B-PP +Harvard NNP B-NP +. . O + +Conservative JJ B-NP +appearances NNS I-NP +make VBP B-VP +people NNS B-NP +think VBP B-VP +it PRP B-NP +'s VBZ B-VP +a DT B-NP +conservative JJ I-NP +investment NN I-NP +. . O + +`` `` O +People NNS B-NP +honestly RB B-VP +lose VBP I-VP +money NN B-NP +on IN B-PP +risky JJ B-NP +investments NNS I-NP +that IN B-NP +they PRP B-NP +did VBD B-VP +n't RB I-VP +realize VB I-VP +were VBD B-VP +a DT B-NP +crapshoot NN I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +Paul NNP B-NP +Wenz NNP I-NP +, , O +a DT B-NP +Phoenix NNP I-NP +, , I-NP +Ariz. NNP I-NP +, , I-NP +attorney NN I-NP +, , O +says VBZ B-VP +a DT B-NP +promise NN I-NP +of IN B-PP +unrealistic JJ B-NP +returns NNS I-NP +would MD B-VP +have VB I-VP +made VBN I-VP +him PRP B-NP +leery JJ B-ADJP +. . O + +But CC O +Mr. NNP B-NP +Wenz NNP I-NP +, , O +who WP B-NP +says VBZ B-VP +he PRP B-NP +lost VBD B-VP +$ $ B-NP +43,000 CD I-NP +in IN B-PP +one CD B-NP +precious-metals NNS I-NP +deal VBP I-NP +and CC O +$ $ B-NP +39,000 CD I-NP +in IN B-PP +another DT B-NP +, , O +says VBZ B-VP +a DT B-NP +salesman NN I-NP +`` `` B-VP +used VBN I-VP +a DT B-NP +business-venture JJ I-NP +approach NN I-NP +'' '' O +with IN B-PP +him PRP B-NP +, , O +sending VBG B-VP +investment NN B-NP +literature NN I-NP +, , O +a DT B-NP +contract NN I-NP +limiting VBG B-VP +the DT B-NP +firm NN I-NP +'s POS B-NP +liability NN I-NP +, , O +and CC O +an DT B-NP +insurance NN I-NP +policy NN I-NP +. . O + +When WRB B-ADVP +he PRP B-NP +visited VBD B-VP +the DT B-NP +company NN I-NP +'s POS B-NP +office NN I-NP +, , O +he PRP B-NP +says VBZ B-VP +, , O +it PRP B-NP +had VBD B-VP +`` `` O +all PDT B-NP +the DT I-NP +trappings NNS I-NP +of IN B-PP +legitimacy NN B-NP +. . O +'' '' O + +Still JJ B-NP +others NNS I-NP +are VBP B-VP +stung VBN I-VP +by IN B-PP +a DT B-NP +desire NN I-NP +to TO B-VP +do VB I-VP +both DT O +well RB B-ADVP +and CC O +good JJ B-NP +, , O +says VBZ B-VP +Douglas NNP B-NP +Watson NNP I-NP +, , O +commanding VBG B-NP +officer NN I-NP +of IN B-PP +the DT B-NP +Los NNP I-NP +Angeles NNP I-NP +Police NNP I-NP +Department NNP I-NP +'s POS B-NP +bunko-forgery NN I-NP +division NN I-NP +. . O + +Born-again JJ B-NP +Christians NNPS I-NP +are VBP B-VP +the DT B-NP +most RBS I-NP +visible JJ I-NP +targets NNS I-NP +of IN B-PP +unscrupulous JJ B-NP +do-gooder JJ I-NP +investment NN I-NP +pitches NNS I-NP +. . O + +But CC O +hardly RB B-ADVP +the DT B-NP +only JJ I-NP +ones NNS I-NP +: : O +The DT B-NP +scams NNS I-NP +promise VBP B-VP +-- : O +among IN B-PP +other JJ B-NP +things NNS I-NP +-- : O +to TO B-VP +help VB I-VP +save VB I-VP +the DT B-NP +environment NN I-NP +, , O +feed NN B-VP +starving VBG B-NP +families NNS I-NP +and CC O +prevent VB B-VP +the DT B-NP +disappearance NN I-NP +of IN B-PP +children NNS B-NP +. . O + +Psychologists NNS B-NP +say VBP B-VP +isolated VBN B-NP +people NNS I-NP +who WP B-NP +do VBP B-VP +n't RB I-VP +discuss VB I-VP +their PRP$ B-NP +investments NNS I-NP +with IN B-PP +others NNS B-NP +are VBP B-VP +particularly RB B-ADVP +at IN B-PP +risk NN B-NP +for IN B-PP +fraud NN B-NP +. . O + +Scam NN B-NP +artists NNS I-NP +seek VBP B-VP +out RP B-PRT +such JJ B-NP +people NNS I-NP +-- : O +or CC O +try VB B-VP +to TO I-VP +make VB I-VP +sure JJ B-ADJP +that IN B-SBAR +their PRP$ B-NP +victims NNS I-NP +isolate VBP B-VP +themselves PRP B-NP +. . O + +For IN B-PP +instance NN B-NP +, , O +salesmen NNS B-NP +may MD B-VP +counter VB I-VP +a DT B-NP +man NN I-NP +'s POS B-NP +objection NN I-NP +that IN B-SBAR +he PRP B-NP +wants VBZ B-VP +to TO I-VP +discuss VB I-VP +an DT B-NP +investment NN I-NP +with IN B-PP +his PRP$ B-NP +wife NN I-NP +by IN B-PP +asking VBG B-VP +, , O +`` `` O +Who WP B-NP +wears VBZ B-VP +the DT B-NP +pants NNS I-NP +in IN B-PP +your PRP$ B-NP +family NN I-NP +? . O +'' '' O + +Or CC O +an DT B-NP +investor NN I-NP +who WP B-NP +wants VBZ B-VP +his PRP$ B-NP +accountant NN I-NP +'s POS B-NP +advice NN I-NP +may MD B-VP +be VB I-VP +told VBN I-VP +, , O +`` `` O +You PRP B-NP +seem VBP B-VP +like IN B-PP +a DT B-NP +guy NN I-NP +who WP B-NP +can MD B-VP +make VB I-VP +up IN B-PRT +his PRP$ B-NP +own JJ I-NP +mind NN I-NP +. . O +'' '' O + +Often RB B-ADVP +con JJ B-NP +artists NNS I-NP +will MD B-VP +try VB I-VP +to TO I-VP +disarm VB I-VP +their PRP$ B-NP +victims NNS I-NP +by IN B-PP +emphasizing VBG B-VP +similarities NNS B-NP +between IN B-PP +them PRP B-NP +. . O + +William NNP B-NP +Lynes NNP I-NP +, , O +a DT B-NP +retired VBN I-NP +engineer NN I-NP +from IN B-PP +Lockheed NNP B-NP +Corp. NNP I-NP +, , O +says VBZ B-VP +he PRP B-NP +and CC O +his PRP$ B-NP +wife NN I-NP +, , O +Lily NNP B-NP +, , O +warmed VBD B-VP +to TO B-PP +the DT B-NP +investment NN I-NP +pitches NNS I-NP +of IN B-PP +a DT B-NP +penny-stock JJ I-NP +peddler NN I-NP +from IN B-PP +Stuart-James NNP B-NP +Co. NNP I-NP +in IN B-PP +Atlanta NNP B-NP +after IN O +the DT B-NP +broker NN I-NP +told VBD B-VP +them PRP B-NP +he PRP B-NP +, , O +too RB B-ADVP +, , O +had VBD B-VP +once RB I-VP +worked VBN I-VP +with IN B-PP +Lockheed NNP B-NP +. . O + +The DT B-NP +Lyneses NNP I-NP +, , O +of IN B-PP +Powder NNP B-NP +Springs NNP I-NP +, , O +Ga. NNP B-NP +, , O +have VBP B-VP +filed VBN I-VP +suit NN B-NP +in IN B-PP +Georgia NNP B-NP +state NN I-NP +court NN I-NP +against IN B-PP +Stuart NNP B-NP +James NNP I-NP +, , O +alleging VBG B-VP +fraud NN B-NP +. . O + +They PRP B-NP +are VBP B-VP +awaiting VBG I-VP +an DT B-NP +arbitration NN I-NP +proceeding NN I-NP +. . O + +They PRP B-NP +say VBP B-VP +the DT B-NP +broker NN I-NP +took VBD B-VP +them PRP B-NP +out IN B-ADVP +for IN B-PP +lunch NN B-NP +frequently RB B-ADVP +. . O + +He PRP B-NP +urged VBD B-VP +them PRP B-NP +to TO B-VP +refer VB I-VP +their PRP$ B-NP +friends NNS I-NP +, , O +who WP B-NP +also RB B-ADVP +lost VBD B-VP +money NN B-NP +. . O + +-LRB- ( O +Donald NNP B-NP +Trinen NNP I-NP +, , O +an DT B-NP +attorney NN I-NP +for IN B-PP +the DT B-NP +penny-brokerage JJ I-NP +firm NN I-NP +, , O +denies VBZ B-VP +the DT B-NP +fraud NN I-NP +allegations NNS I-NP +and CC O +says VBZ B-VP +the DT B-NP +Lyneses NNP I-NP +were VBD B-VP +fully RB I-VP +apprised VBN I-VP +that IN B-SBAR +they PRP B-NP +were VBD B-VP +pursuing VBG I-VP +a DT B-NP +high-risk JJ I-NP +investment NN I-NP +. . O +-RRB- ) O + +`` `` O +It PRP B-NP +'s VBZ B-VP +not RB O +uncommon JJ B-ADJP +for IN B-SBAR +these DT B-NP +guys NNS I-NP +to TO B-VP +send VB I-VP +pictures NNS B-NP +of IN B-PP +themselves PRP B-NP +or CC O +their PRP$ B-NP +families NNS I-NP +to TO B-VP +ingratiate VB I-VP +themselves PRP B-NP +to TO B-PP +their PRP$ B-NP +clients NNS I-NP +, , O +'' '' O +says VBZ B-VP +Terree NNP B-NP +Bowers NNP I-NP +, , O +chief NN B-NP +of IN B-PP +the DT B-NP +major-frauds JJ I-NP +section NN I-NP +of IN B-PP +the DT B-NP +U.S. NNP I-NP +attorney NN I-NP +'s POS B-NP +office NN I-NP +in IN B-PP +Los NNP B-NP +Angeles NNP I-NP +. . O + +`` `` O +We PRP B-NP +'ve VBP B-VP +seen VBN I-VP +cases NNS B-NP +where WRB B-ADVP +salesmen NNS B-NP +will MD B-VP +affect VB I-VP +the DT B-NP +accent NN I-NP +of IN B-PP +the DT B-NP +region NN I-NP +of IN B-PP +the DT B-NP +country NN I-NP +they PRP B-NP +are VBP B-VP +calling VBG I-VP +. . O + +Anything NN B-NP +to TO B-VP +make VB I-VP +a DT B-NP +sale NN I-NP +. . O +'' '' O + +Experts NNS B-NP +say VBP B-VP +that IN B-SBAR +whatever WDT B-NP +a DT B-NP +person NN I-NP +'s POS B-NP +particular JJ I-NP +weak JJ I-NP +point NN I-NP +, , O +timing NN B-NP +is VBZ B-VP +crucial JJ B-ADJP +. . O + +People NNS B-NP +may MD B-VP +be VB I-VP +particularly RB B-ADJP +vulnerable JJ I-ADJP +to TO B-PP +flim-flam NN B-NP +pitches NNS I-NP +when WRB B-ADVP +they PRP B-NP +are VBP B-VP +in IN B-PP +the DT B-NP +midst NN I-NP +of IN B-PP +a DT B-NP +major JJ I-NP +upheaval NN I-NP +in IN B-PP +their PRP$ B-NP +lives NNS I-NP +. . O + +`` `` O +Sometimes RB B-ADVP +when WRB B-ADVP +people NNS B-NP +are VBP B-VP +making VBG I-VP +big JJ B-NP +changes NNS I-NP +, , O +retiring VBG B-VP +from IN B-PP +their PRP$ B-NP +jobs NNS I-NP +, , O +moving VBG B-VP +to TO B-PP +a DT B-NP +new JJ I-NP +area NN I-NP +, , O +they PRP B-NP +lose VBP B-VP +their PRP$ B-NP +bearings NNS I-NP +, , O +'' '' O +says VBZ B-VP +Maury NNP B-NP +Elvekrog NNP I-NP +, , O +a DT B-NP +licensed VBN I-NP +psychologist NN I-NP +who WP B-NP +is VBZ B-VP +now RB B-ADVP +an DT B-NP +investment NN I-NP +adviser NN I-NP +and CC I-NP +principal JJ I-NP +in IN B-PP +Seger-Elvekrog NNP B-NP +Inc. NNP I-NP +, , O +a DT B-NP +Birmingham NNP I-NP +, , I-NP +Mich. NNP I-NP +, , I-NP +investment-counseling JJ I-NP +firm NN I-NP +. . O + +`` `` O +They PRP B-NP +may MD B-VP +be VB I-VP +susceptible JJ B-ADJP +to TO B-PP +some DT B-NP +song NN I-NP +and CC I-NP +dance NN I-NP +if IN B-SBAR +it PRP B-NP +hits VBZ B-VP +them PRP B-NP +at IN B-PP +the DT B-NP +right JJ I-NP +time NN I-NP +. . O +'' '' O + +They PRP B-NP +are VBP B-VP +obviously RB B-ADVP +also RB B-ADVP +more RBR B-ADJP +susceptible JJ I-ADJP +when WRB B-ADVP +they PRP B-NP +need VBP B-VP +money NN B-NP +- : O +retirees NNS B-NP +, , O +for IN B-PP +instance NN B-NP +, , O +trying VBG B-VP +to TO I-VP +bolster VB I-VP +their PRP$ B-NP +fixed VBN I-NP +income NN I-NP +or CC O +parents NNS B-NP +fretting VBG B-VP +over IN B-PP +how WRB B-ADVP +to TO B-VP +pay VB I-VP +for IN B-PP +a DT B-NP +child NN I-NP +'s POS B-NP +college NN I-NP +expenses NNS I-NP +. . O + +`` `` O +These DT B-NP +people NNS I-NP +are VBP B-VP +n't RB O +necessarily RB B-ADVP +stupid JJ B-ADJP +or CC I-ADJP +naive JJ I-ADJP +. . O + +Almost RB B-NP +all DT I-NP +of IN B-PP +us PRP B-NP +in IN B-PP +comparable JJ B-NP +circumstances NNS I-NP +might MD B-VP +be VB I-VP +victimized VBN I-VP +in IN B-PP +some DT B-NP +way NN I-NP +, , O +'' '' O +says VBZ B-VP +Jerald NNP B-NP +Jellison NNP I-NP +, , O +a DT B-NP +psychology NN I-NP +professor NN I-NP +at IN B-PP +the DT B-NP +University NNP I-NP +of IN B-PP +Southern NNP B-NP +California NNP I-NP +in IN B-PP +Los NNP B-NP +Angeles NNP I-NP +. . O + +Nick NNP B-NP +Cortese NNP I-NP +thinks VBZ B-VP +that DT B-NP +'s VBZ B-VP +what WP B-NP +happened VBD B-VP +to TO B-PP +him PRP B-NP +. . O + +Mr. NNP B-NP +Cortese NNP I-NP +, , O +a DT B-NP +33-year-old NNP I-NP +Delta NNP I-NP +Air NNP I-NP +Lines NNPS I-NP +engineer NN I-NP +, , O +invested VBD B-VP +some DT B-NP +$ $ I-NP +2,000 CD I-NP +in IN B-PP +penny NN B-NP +stocks NNS I-NP +through IN B-PP +a DT B-NP +broker NN I-NP +who WP B-NP +promised VBD B-VP +quick JJ B-NP +returns NNS I-NP +. . O + +`` `` O +We PRP B-NP +were VBD B-VP +saving VBG I-VP +up VB B-PRT +to TO B-VP +buy VB I-VP +a DT B-NP +house NN I-NP +, , O +and CC O +my PRP$ B-NP +wife NN I-NP +was VBD B-VP +pregnant JJ B-ADJP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Cortese NNP I-NP +. . O + +`` `` O +It PRP B-NP +was VBD B-VP +just RB B-ADVP +before IN B-PP +the DT B-NP +Christmas NNP I-NP +holidays NNS I-NP +, , O +and CC O +I PRP B-NP +figured VBD B-VP +we PRP B-NP +could MD B-VP +use VB I-VP +some DT B-NP +extra JJ I-NP +cash NN I-NP +. . O +'' '' O + +The DT B-NP +investment NN I-NP +is VBZ B-VP +worth JJ B-ADJP +about RB B-NP +$ $ I-NP +130 CD I-NP +today NN B-NP +. . O + +`` `` O +Maybe RB B-ADVP +it PRP B-NP +was VBD B-VP +just RB B-NP +a DT I-NP +vulnerable JJ I-NP +time NN I-NP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Cortese NNP I-NP +. . O + +`` `` O +Maybe RB B-ADVP +the DT B-NP +next JJ I-NP +day NN I-NP +or CC O +even RB B-ADVP +an DT B-NP +hour NN I-NP +later RB B-ADVP +, , O +I PRP B-NP +would MD B-VP +n't RB I-VP +have VB I-VP +done VBN I-VP +it PRP B-NP +. . O +'' '' O + +Ms. NNP B-NP +Brannigan NNP I-NP +is VBZ B-VP +a DT B-NP +staff NN I-NP +reporter NN I-NP +in IN B-PP +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +'s POS B-NP +Atlanta NNP I-NP +bureau NN I-NP +. . O + +Prices NNS B-NP +for IN B-PP +seats NNS B-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +are VBP B-VP +recovering VBG I-VP +a DT B-NP +bit NN I-NP +after IN B-PP +hitting VBG B-VP +a DT B-NP +four-year JJ I-NP +low RB I-NP +earlier RBR B-NP +this DT I-NP +month NN I-NP +. . O + +Two CD B-NP +seats NNS I-NP +on IN B-PP +the DT B-NP +Big NNP I-NP +Board NNP I-NP +were VBD B-VP +sold VBN I-VP +yesterday NN B-NP +for IN B-PP +$ $ B-NP +455,000 CD I-NP +, , B-NP +and CC I-NP +then RB I-NP +$ $ B-NP +500,000 CD I-NP +. . O + +The DT B-NP +previous JJ I-NP +sale NN I-NP +was VBD B-VP +$ $ B-NP +436,000 CD I-NP +on IN B-PP +Oct. NNP B-NP +17 CD I-NP +; : O +the DT B-NP +last JJ I-NP +time NN I-NP +prices NNS B-NP +were VBD B-VP +that IN B-ADJP +low NN I-ADJP +was VBD B-VP +November NNP B-NP +1985 CD I-NP +, , O +when WRB B-ADVP +a DT B-NP +seat NN I-NP +sold VBN B-VP +for IN B-PP +$ $ B-NP +425,000 CD I-NP +. . O + +Prices NNS B-NP +peaked VBD B-VP +at IN B-PP +$ $ B-NP +1,150,000 CD I-NP +in IN B-PP +September NNP B-NP +1987 CD I-NP +. . O + +Seats NNS B-NP +are VBP B-VP +currently RB I-VP +quoted VBN I-VP +at IN B-PP +$ $ B-NP +430,000 CD I-NP +bid NN B-VP +and CC O +$ $ B-NP +525,000 CD I-NP +asked VBD B-VP +. . O + +FOX NN B-NP +HUNTING NN I-NP +HAS VBZ B-VP +been VBN I-VP +defined VBN I-VP +as IN B-PP +the DT B-NP +unspeakable JJ I-NP +in IN B-PP +pursuit NN B-NP +of IN B-PP +the DT B-NP +inedible JJ I-NP +, , O +but CC O +at IN B-ADVP +least JJS I-ADVP +it PRP B-NP +'s VBZ B-VP +exercise NN B-NP +. . O + +At IN B-ADVP +least JJS I-ADVP +it PRP B-NP +has VBZ B-VP +a DT B-NP +little JJ I-NP +dash NN I-NP +. . O + +Most JJS B-NP +of IN B-PP +us PRP B-NP +have VBP B-VP +to TO I-VP +spend VB I-VP +our PRP$ B-NP +time NN I-NP +on IN B-PP +pursuits NNS B-NP +that WDT B-NP +afford VBP B-VP +neither DT B-NP +, , O +drab JJ B-NP +duties NNS I-NP +rather RB B-PP +than IN I-PP +pleasures NNS B-NP +. . O + +Like IN B-PP +trying VBG B-VP +to TO I-VP +buy VB I-VP +life NN B-NP +insurance NN I-NP +, , O +for IN B-PP +instance NN B-NP +, , O +an DT B-NP +endeavor NN I-NP +notably RB B-VP +lacking VBG I-VP +in IN B-PP +dash NN B-NP +. . O + +Call VB B-VP +it PRP B-NP +the DT B-NP +uninformed JJ I-NP +trudging VBG B-VP +after IN B-PP +the DT B-NP +incomprehensible NN I-NP +. . O + +But CC O +sooner RBR B-ADVP +or CC I-ADVP +later RB I-ADVP +, , O +most RBS B-NP +of IN B-PP +us PRP B-NP +have VBP B-VP +to TO I-VP +think VB I-VP +about IN B-PP +life NN B-NP +insurance NN I-NP +, , O +just RB B-SBAR +as IN I-SBAR +we PRP B-NP +often RB B-ADVP +have VBP B-VP +to TO I-VP +think VB I-VP +about IN B-PP +having VBG B-VP +root-canal NN B-NP +work NN I-NP +. . O + +And CC O +my PRP$ B-NP +time NN I-NP +has VBZ B-VP +come VBN I-VP +. . O + +I PRP B-NP +'m VBP B-VP +33 CD B-NP +, , O +married VBN B-ADJP +, , O +no DT B-NP +children NNS I-NP +, , O +and CC O +employed VBD B-VP +in IN B-PP +writing VBG B-VP +stories NNS B-NP +like IN B-PP +this DT B-NP +one CD I-NP +. . O + +In IN B-PP +times NNS B-NP +past JJ B-ADJP +, , O +life-insurance NN B-NP +salesmen NNS I-NP +targeted VBD B-VP +heads NNS B-NP +of IN B-PP +household NN B-NP +, , O +meaning NN B-VP +men NNS B-NP +, , O +but CC O +ours PRP B-NP +is VBZ B-VP +a DT B-NP +two-income JJ I-NP +family NN I-NP +and CC O +accustomed VBN B-VP +to TO B-PP +it PRP B-NP +. . O + +So RB O +if IN B-SBAR +anything NN B-NP +happened VBD B-VP +to TO B-PP +me PRP B-NP +, , O +I PRP B-NP +'d MD B-VP +want VB I-VP +to TO I-VP +leave VB I-VP +behind IN B-ADVP +enough RB B-NP +so RB B-SBAR +that IN I-SBAR +my PRP$ B-NP +33-year-old JJ I-NP +husband NN I-NP +would MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +pay VB I-VP +off IN B-PRT +the DT B-NP +mortgage NN I-NP +and CC O +some DT B-NP +other JJ I-NP +debts NNS I-NP +-LRB- ( O +though IN O +not RB O +, , O +I PRP B-NP +admit VBP B-VP +, , O +enough RB B-NP +to TO B-VP +put VB I-VP +any DT B-NP +potential JJ I-NP +second JJ I-NP +wife NN I-NP +in IN B-PP +the DT B-NP +lap NN I-NP +of IN B-PP +luxury NN B-NP +-RRB- ) O +. . O + +Figuring VBG B-VP +that IN B-SBAR +maybe RB B-ADVP +$ $ B-NP +100,000 CD I-NP +to TO I-NP +$ $ I-NP +150,000 CD I-NP +would MD B-VP +do VB I-VP +but CC O +having VBG B-VP +no DT B-NP +idea NN I-NP +of IN B-PP +what WP B-NP +kind NN I-NP +of IN B-PP +policy NN B-NP +I PRP B-NP +wanted VBD B-VP +, , O +I PRP B-NP +looked VBD B-VP +at IN B-PP +the DT B-NP +myriad JJ I-NP +products NNS I-NP +of IN B-PP +a DT B-NP +dozen NN I-NP +companies NNS I-NP +-- : O +and CC O +plunged VBD B-VP +into IN B-PP +a DT B-NP +jungle NN I-NP +of IN B-PP +gibberish NN B-NP +. . O + +Over IN B-PP +the DT B-NP +past JJ I-NP +decade NN I-NP +or CC I-NP +two CD I-NP +, , O +while IN B-SBAR +I PRP B-NP +was VBD B-VP +thinking VBG I-VP +about IN B-PP +fox NN B-NP +hunting NN I-NP +, , O +the DT B-NP +insurance NN I-NP +industry NN I-NP +has VBZ B-VP +spawned VBN I-VP +an DT B-NP +incredible JJ I-NP +number NN I-NP +of IN B-PP +products NNS B-NP +, , O +variations NNS B-NP +on IN B-PP +products NNS B-NP +, , O +and CC O +variations NNS B-NP +on IN B-PP +the DT B-NP +variations NNS I-NP +. . O + +Besides IN B-PP +term NN B-NP +life NN I-NP +and CC O +whole JJ B-NP +life NN I-NP +-LRB- ( O +the DT B-NP +old JJ I-NP +standbys NNS I-NP +-RRB- ) O +, , O +we PRP B-NP +now RB B-ADVP +have VBP B-VP +universal JJ B-NP +life NN I-NP +, , O +universal JJ B-NP +variable JJ I-NP +life NN I-NP +, , O +flexible JJ B-NP +adjustable JJ I-NP +universal JJ I-NP +life NN I-NP +, , O +policies NNS B-NP +with IN B-PP +persistency NN B-NP +bonuses NNS I-NP +, , O +policies NNS B-NP +festooned VBN B-VP +with IN B-PP +exotic JJ B-NP +riders NNS I-NP +, , O +living VBG B-NP +benefit NN I-NP +policies NNS I-NP +, , O +and CC O +on IN B-ADVP +and CC I-ADVP +on RB I-ADVP +. . O + +What WP B-NP +to TO B-VP +do VB I-VP +? . O + +First RB B-ADVP +, , O +generalize VB B-VP +. . O + +Shorn VBN B-VP +of IN B-PP +all DT B-NP +their PRP$ I-NP +riders NNS I-NP +, , I-NP +special JJ I-NP +provisions NNS I-NP +, , I-NP +and CC I-NP +other JJ I-NP +bells NNS I-NP +and CC I-NP +whistles NNS I-NP +, , O +insurance NN B-NP +policies NNS I-NP +can MD B-VP +still RB I-VP +be VB I-VP +grouped VBN I-VP +under IN B-PP +two CD B-NP +broad JJ I-NP +categories NNS I-NP +: : O +so-called JJ B-NP +pure JJ I-NP +insurance NN I-NP +, , O +which WDT B-NP +amasses VBZ B-VP +no DT B-NP +cash NN I-NP +value NN I-NP +in IN B-PP +the DT B-NP +policy NN I-NP +and CC O +pays VBZ B-VP +off IN B-PRT +only RB B-ADVP +upon IN B-PP +death NN B-NP +, , O +and CC O +permanent JJ B-NP +insurance NN I-NP +, , O +which WDT B-NP +provides VBZ B-VP +not RB B-CONJP +only RB I-CONJP +a DT B-NP +death NN I-NP +benefit NN I-NP +but CC B-CONJP +also RB I-CONJP +a DT B-NP +cash NN I-NP +value NN I-NP +in IN B-PP +the DT B-NP +policy NN I-NP +that WDT B-NP +can MD B-VP +be VB I-VP +used VBN I-VP +in IN B-PP +various JJ B-NP +ways NNS I-NP +while IN B-SBAR +the DT B-NP +insured VBN I-NP +is VBZ B-VP +still RB B-ADVP +alive JJ B-ADJP +. . O + +If IN B-SBAR +all DT B-NP +you PRP B-NP +want VBP B-VP +is VBZ B-VP +death-benefit JJ B-NP +coverage NN I-NP +, , O +pure JJ B-NP +insurance NN I-NP +-- : O +a DT B-NP +term NN I-NP +policy NN I-NP +-- : O +gives VBZ B-VP +you PRP B-NP +maximum JJ B-NP +bang NN I-NP +for IN B-PP +your PRP$ B-NP +buck NN I-NP +, , O +within IN B-PP +limits NNS B-NP +. . O + +It PRP B-NP +'s VBZ B-VP +much RB B-ADJP +cheaper JJR I-ADJP +than IN B-PP +permanent JJ B-NP +insurance NN I-NP +bought VBD B-VP +at IN B-PP +the DT B-NP +same JJ I-NP +age NN I-NP +. . O + +But CC O +`` `` O +term NN B-NP +'' '' O +means VBZ B-VP +just RB B-NP +that IN I-NP +; : O +the DT B-NP +policy NN I-NP +is VBZ B-VP +written VBN I-VP +for IN B-PP +a DT B-NP +specific JJ I-NP +time NN I-NP +period NN I-NP +only RB I-NP +and CC O +must MD B-VP +be VB I-VP +renewed VBN I-VP +when WRB B-ADVP +it PRP B-NP +expires VBZ B-VP +. . O + +It PRP B-NP +may MD B-VP +also RB I-VP +stipulate VB I-VP +that IN B-SBAR +the DT B-NP +insured VBN I-NP +must MD B-VP +pass VB I-VP +another DT B-NP +medical JJ I-NP +exam NN I-NP +before IN B-PP +renewal NN B-NP +; : O +if IN B-SBAR +you PRP B-NP +flunk VBP B-VP +-- : O +which WDT B-NP +means VBZ B-VP +you PRP B-NP +need VBP B-VP +insurance NN B-NP +more JJR B-ADVP +than IN B-PP +ever RB B-ADVP +-- : O +you PRP B-NP +may MD B-VP +not RB I-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +buy VB I-VP +it PRP B-NP +. . O + +Even RB B-SBAR +if IN I-SBAR +you PRP B-NP +'re VBP B-VP +healthy JJ B-ADJP +and CC O +can MD B-VP +renew VB I-VP +, , O +your PRP$ B-NP +premium NN I-NP +will MD B-VP +go VB I-VP +up IN B-ADVP +sharply RB B-ADVP +because IN B-SBAR +you PRP B-NP +'re VBP B-VP +that IN B-NP +much RB B-ADJP +older JJR B-ADJP +. . O + +So RB O +term VBP B-NP +insurance NN I-NP +may MD B-VP +not RB I-VP +be VB I-VP +as RB B-ADJP +cheap JJ I-ADJP +as IN B-SBAR +it PRP B-NP +looks VBZ B-VP +. . O + +There EX B-NP +are VBP B-VP +all DT B-NP +sorts NNS I-NP +of IN B-PP +variations NNS B-NP +on IN B-PP +term NN B-NP +insurance NN I-NP +: : O +policies NNS B-NP +structured VBN B-VP +to TO B-VP +pay VB I-VP +off IN B-PRT +your PRP$ B-NP +mortgage NN I-NP +debt NN I-NP +, , O +term NN B-NP +riders NNS I-NP +tacked VBD B-VP +on IN B-PRT +to TO B-PP +permanent JJ B-NP +insurance NN I-NP +, , O +and CC O +many JJ B-NP +others NNS I-NP +. . O + +One CD B-NP +variation NN I-NP +that WDT B-NP +appealed VBD B-VP +to TO B-PP +me PRP B-NP +at IN B-PP +first JJ B-NP +was VBD B-VP +the DT B-NP +`` `` I-NP +Money NNP I-NP +Smart NNP I-NP +Term NNP I-NP +Life NNP I-NP +'' '' I-NP +policy NN I-NP +offered VBN B-VP +by IN B-PP +Amex NNP B-NP +Life NNP I-NP +Insurance NNP I-NP +Co. NNP I-NP +, , O +the DT B-NP +American NNP I-NP +Express NNP I-NP +unit NN I-NP +, , O +to TO B-PP +the DT B-NP +parent NN I-NP +company NN I-NP +'s POS B-NP +credit-card NN I-NP +holders NNS I-NP +. . O + +Upon IN B-PP +examination NN B-NP +, , O +however RB B-ADVP +, , O +I PRP B-NP +wondered VBD B-VP +whether IN B-SBAR +the DT B-NP +plan NN I-NP +made VBD B-VP +a DT B-NP +lot NN I-NP +of IN B-PP +sense NN B-NP +. . O + +Amex NNP B-NP +said VBD B-VP +it PRP B-NP +would MD B-VP +charge VB I-VP +me PRP B-NP +$ $ B-NP +576 CD I-NP +a DT B-NP +year NN I-NP +for IN B-PP +$ $ B-NP +100,000 CD I-NP +of IN B-PP +coverage NN B-NP +-- : O +and CC O +would MD B-VP +pay VB I-VP +me PRP B-NP +back RB B-ADVP +all PDT B-NP +the DT I-NP +premiums NNS I-NP +I PRP B-NP +put VBP B-VP +in IN B-ADVP +if IN B-SBAR +I PRP B-NP +canceled VBD B-VP +the DT B-NP +policy NN I-NP +after IN B-PP +10 CD B-NP +years NNS I-NP +. . O + +Sounds VBZ B-VP +great JJ B-ADJP +-- : O +or CC O +does VBZ O +it PRP B-NP +? . O + +First RB B-ADVP +, , O +if IN B-SBAR +I PRP B-NP +canceled VBD B-VP +, , O +I PRP B-NP +'d MD B-VP +have VB I-VP +no DT B-NP +more JJR I-NP +insurance NN I-NP +, , O +a DT B-NP +not RB I-NP +insignificant JJ I-NP +consideration NN I-NP +. . O + +Second JJ B-ADVP +, , O +the DT B-NP +$ $ I-NP +5,760 CD I-NP +I PRP B-NP +'d MD B-VP +get VB I-VP +back RB B-ADVP +would MD B-VP +be VB I-VP +much RB I-VP +diminished VBN I-VP +in IN B-PP +purchasing VBG B-NP +power NN I-NP +by IN B-PP +10 CD B-NP +years NNS I-NP +of IN B-PP +inflation NN B-NP +; : O +Amex NNP B-NP +, , I-NP +not RB I-NP +I PRP I-NP +, , O +would MD B-VP +get VB I-VP +the DT B-NP +benefit NN I-NP +of IN B-PP +the DT B-NP +investment NN I-NP +income NN I-NP +on IN B-PP +my PRP$ B-NP +money NN I-NP +, , O +income NN B-NP +that WDT B-NP +would MD B-VP +have VB I-VP +exceeded VBN I-VP +the DT B-NP +inflation NN I-NP +rate NN I-NP +and CC O +thus RB B-ADVP +given VBN B-VP +the DT B-NP +company NN I-NP +a DT B-NP +real JJ I-NP +profit NN I-NP +. . O + +Third NNP B-ADVP +and CC O +most RBS B-ADJP +important JJ I-ADJP +, , O +Amex NNP B-NP +would MD B-VP +charge VB I-VP +me PRP B-NP +a DT B-NP +far RB I-NP +higher JJR I-NP +premium NN I-NP +than IN B-SBAR +other JJ B-NP +reputable JJ I-NP +companies NNS I-NP +would MD B-VP +on IN B-PP +a DT B-NP +straight JJ I-NP +term NN I-NP +policy NN I-NP +for IN B-PP +the DT B-NP +same JJ I-NP +amount NN I-NP +; : O +I PRP B-NP +'d MD B-VP +be VB I-VP +paying VBG I-VP +so RB B-ADVP +heavily RB I-ADVP +just RB B-ADVP +to TO B-VP +have VB I-VP +the DT B-NP +option NN I-NP +of IN B-PP +getting VBG B-VP +my PRP$ B-NP +premiums NNS I-NP +back RB B-ADVP +that IN B-SBAR +I PRP B-NP +'d MD B-VP +almost RB I-VP +have VB I-VP +to TO I-VP +cancel VB I-VP +to TO B-VP +make VB I-VP +the DT B-NP +whole JJ I-NP +thing NN I-NP +worthwhile JJ B-ADJP +. . O + +That DT B-NP +would MD B-VP +be VB I-VP +all DT B-ADJP +right NN I-ADJP +with IN B-PP +Amex NNP B-NP +, , O +which WDT B-NP +could MD B-VP +then RB I-VP +lock VB I-VP +in IN B-ADVP +its PRP$ B-NP +investment NN I-NP +profit NN I-NP +, , O +but CC O +it PRP B-NP +does VBZ B-VP +n't RB I-VP +add VB I-VP +up IN B-PRT +to TO B-PP +a DT B-NP +`` `` I-NP +smart JJ I-NP +money NN I-NP +'' '' I-NP +move NN I-NP +for IN B-PP +me PRP B-NP +. . O + +Which WDT B-NP +goes VBZ B-VP +to TO I-VP +show VB I-VP +that IN B-SBAR +the DT B-NP +First NNP I-NP +Law NNP I-NP +applies VBZ B-VP +in IN B-PP +insurance NN B-NP +as IN B-PP +in IN B-PP +anything NN B-NP +else RB B-ADJP +: : O +There EX B-NP +is VBZ B-VP +no DT B-NP +free JJ I-NP +lunch NN I-NP +, , O +there EX B-NP +is VBZ B-VP +only JJ B-NP +marketing NN I-NP +. . O + +And CC O +the DT B-NP +Second NNP I-NP +Law NNP I-NP +, , O +unique JJ B-ADJP +to TO B-PP +insurance NN B-NP +? . O + +If IN B-SBAR +I PRP B-NP +die VBP B-VP +early JJ B-ADVP +, , O +I PRP B-NP +win VBP B-VP +-- : O +a DT B-NP +hollow JJ I-NP +victory NN I-NP +, , O +since IN B-SBAR +I PRP B-NP +ca MD B-VP +n't RB I-VP +enjoy VB I-VP +it PRP B-NP +-- : O +and CC O +if IN B-SBAR +I PRP B-NP +live VBP B-VP +long JJ B-ADVP +, , O +the DT B-NP +insurer NN I-NP +wins NNS B-VP +. . O + +Always RB B-ADVP +. . O + +This DT B-NP +is VBZ B-VP +worth JJ B-ADJP +remembering NN B-NP +when WRB B-ADVP +insurers NNS B-NP +and CC O +their PRP$ B-NP +salesmen NNS I-NP +try VBP B-VP +to TO I-VP +sell VB I-VP +you PRP B-NP +permanent JJ B-NP +insurance NN I-NP +, , O +the DT B-NP +kind NN I-NP +that WDT B-NP +amasses VBZ B-VP +cash NN B-NP +value NN I-NP +. . O + +The DT B-NP +word NN I-NP +`` `` I-NP +death NN I-NP +'' '' O +can MD B-VP +not RB I-VP +be VB I-VP +escaped VBN I-VP +entirely RB B-ADVP +by IN B-PP +the DT B-NP +industry NN I-NP +, , O +but CC O +salesmen NNS B-NP +dodge VBP B-VP +it PRP B-NP +wherever WRB B-ADVP +possible JJ B-ADJP +or CC O +cloak NN B-VP +it PRP B-NP +in IN B-PP +euphemisms NNS B-NP +, , O +preferring VBG B-VP +to TO I-VP +talk VB I-VP +about IN B-PP +`` `` B-NP +savings NNS I-NP +'' '' I-NP +and CC I-NP +`` `` I-NP +investment NN I-NP +'' '' O +instead RB B-ADVP +. . O + +The DT B-NP +implication NN I-NP +is VBZ B-VP +that IN O +your PRP$ B-NP +permanent-insurance JJ I-NP +policy NN I-NP +is VBZ B-VP +really RB B-ADVP +some DT B-NP +kind NN I-NP +of IN B-PP +CD NNP B-NP +or CC O +mutual-fund JJ B-NP +account NN I-NP +with IN B-PP +an DT B-NP +added VBN I-NP +feature NN I-NP +. . O + +That DT B-NP +is VBZ B-VP +gilding NN B-VP +the DT B-NP +lily NN I-NP +. . O + +The DT B-NP +fact NN I-NP +is VBZ B-VP +that IN B-SBAR +as IN B-PP +a DT B-NP +savings NNS I-NP +or CC I-NP +investment NN I-NP +vehicle NN I-NP +, , O +insurance NN B-NP +generally RB B-ADVP +runs VBZ B-VP +a DT B-NP +poor JJ I-NP +second JJ I-NP +to TO B-PP +any DT B-NP +direct JJ I-NP +investment NN I-NP +you PRP B-NP +might MD B-VP +make VB I-VP +in IN B-PP +the DT B-NP +same JJ I-NP +things NNS I-NP +the DT B-NP +insurance NN I-NP +company NN I-NP +is VBZ B-VP +putting VBG I-VP +your PRP$ B-NP +money NN I-NP +into IN B-PP +. . O + +That DT B-NP +'s VBZ B-VP +because IN B-SBAR +you PRP B-NP +have VBP B-VP +to TO I-VP +pay VB I-VP +for IN B-PP +the DT B-NP +insurance NN I-NP +portion NN I-NP +of IN B-PP +the DT B-NP +policy NN I-NP +and CC O +the DT B-NP +effort NN I-NP +required VBN B-VP +to TO B-VP +sell VB I-VP +and CC I-VP +service VB I-VP +the DT B-NP +whole JJ I-NP +package NN I-NP +. . O + +Again RB B-ADVP +, , O +no DT B-NP +free JJ I-NP +lunch NN I-NP +. . O + +This DT B-NP +is VBZ B-VP +reflected VBN I-VP +in IN B-PP +a DT B-NP +built-in JJ I-NP +mortality NN I-NP +cost NN I-NP +-- : O +in IN B-PP +effect NN B-NP +, , O +your PRP$ B-NP +share NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +estimated VBN I-NP +liability NN I-NP +in IN B-PP +paying VBG B-VP +off IN B-PRT +beneficiaries NNS B-NP +of IN B-PP +people NNS B-NP +who WP B-NP +had VBD B-VP +the DT B-NP +effrontery NN I-NP +to TO B-VP +die VB I-VP +while IN B-SBAR +under IN B-PP +its PRP$ B-NP +protection NN I-NP +. . O + +And CC O +in IN B-PP +most RBS B-NP +cases NNS I-NP +, , O +a DT B-NP +huge JJ I-NP +hunk NN I-NP +of IN B-PP +your PRP$ B-NP +premium NN I-NP +in IN B-PP +the DT B-NP +initial JJ I-NP +year NN I-NP +or CC I-NP +two CD I-NP +of IN B-PP +the DT B-NP +the DT I-NP +policy NN I-NP +is VBZ B-VP +, , O +in IN B-PP +effect NN B-NP +, , O +paying VBG B-VP +the DT B-NP +salesman NN I-NP +'s POS B-NP +commission NN I-NP +as IN B-ADVP +well RB I-ADVP +; : O +investment NN B-NP +returns NNS I-NP +on IN B-PP +most RBS B-NP +policies NNS I-NP +are VBP B-VP +actually RB B-ADVP +negative JJ B-ADVP +for IN B-PP +several JJ B-NP +years NNS I-NP +, , O +largely RB B-ADVP +because IN B-PP +of IN I-PP +this DT B-NP +. . O + +So RB O +view VBP B-VP +permanent JJ B-NP +insurance NN I-NP +for IN B-PP +what WP B-NP +it PRP B-NP +is VBZ B-VP +-- : O +a DT B-NP +compromise NN I-NP +between IN B-PP +pure JJ B-NP +insurance NN I-NP +and CC O +direct JJ B-NP +investment NN I-NP +. . O + +The DT B-NP +simplest JJS I-NP +, , I-NP +most RBS I-NP +traditional JJ I-NP +form NN I-NP +of IN B-PP +permanent JJ B-NP +insurance NN I-NP +is VBZ B-VP +the DT B-NP +straight JJ I-NP +whole JJ I-NP +life NN I-NP +policy NN I-NP +. . O + +You PRP B-NP +pay VBP B-VP +a DT B-NP +set VBN I-NP +premium NN I-NP +for IN B-PP +a DT B-NP +set VBN I-NP +amount NN I-NP +of IN B-PP +coverage NN B-NP +, , O +the DT B-NP +company NN I-NP +invests VBZ B-VP +that DT B-NP +premium NN I-NP +in IN B-PP +a DT B-NP +portfolio NN I-NP +of IN B-PP +its PRP$ B-NP +choosing NN I-NP +, , O +and CC O +your PRP$ B-NP +cash NN I-NP +value NN I-NP +and CC I-NP +dividends NNS I-NP +grow VBP B-VP +over IN B-PP +the DT B-NP +years NNS I-NP +. . O + +One CD B-NP +newer JJR I-NP +wrinkle NN I-NP +, , O +so RB B-NP +called VBN I-NP +single-premium JJ I-NP +life NN I-NP +-LRB- ( O +you PRP B-NP +pay VBP B-VP +for IN B-PP +the DT B-NP +whole JJ I-NP +policy NN I-NP +at IN B-PP +once RB B-NP +-RRB- ) O +, , O +has VBZ B-VP +been VBN I-VP +immensely RB B-ADJP +popular JJ I-ADJP +in IN B-PP +recent JJ B-NP +years NNS I-NP +for IN B-PP +tax NN B-NP +reasons NNS I-NP +; : O +the DT B-NP +insured VBN I-NP +could MD B-VP +extract VB I-VP +cash NN B-NP +value NN I-NP +in IN B-PP +the DT B-NP +form NN I-NP +of IN B-PP +policy NN B-NP +`` `` I-NP +loans NNS I-NP +, , O +'' '' O +and CC O +none NN B-NP +of IN B-PP +the DT B-NP +proceeds NNS I-NP +were VBD B-VP +taxable JJ B-ADJP +even RB B-SBAR +though IN I-SBAR +they PRP B-NP +included VBD B-VP +gains NNS B-NP +on IN B-PP +investment NN B-NP +. . O + +Congress NNP B-NP +closed VBD B-VP +this DT B-NP +loophole NN I-NP +last JJ B-NP +year NN I-NP +, , O +or CC O +thought VBD B-VP +it PRP B-NP +did VBD B-VP +. . O + +However RB B-ADVP +, , O +Monarch NNP B-NP +Capital NNP I-NP +Corp. NNP I-NP +of IN B-PP +Springfield NNP B-NP +, , O +Mass. NNP B-NP +, , O +has VBZ B-VP +developed VBN I-VP +a DT B-NP +`` `` I-NP +combination NN I-NP +plan NN I-NP +'' '' O +of IN B-PP +annuity NN B-NP +and CC I-NP +insurance NN I-NP +coverage NN I-NP +that IN B-NP +it PRP B-NP +says VBZ B-VP +does VBZ B-VP +not RB I-VP +violate VB I-VP +the DT B-NP +new JJ I-NP +regulations NNS I-NP +and CC O +that DT O +allows VBZ B-VP +policy NN B-NP +loans NNS I-NP +without IN B-PP +tax NN B-NP +consequences NNS I-NP +. . O + +But CC O +the DT B-NP +percentage NN I-NP +of IN B-PP +your PRP$ B-NP +cash NN I-NP +reserve NN I-NP +that IN B-NP +you PRP B-NP +can MD B-VP +borrow VB I-VP +tax-free JJ B-ADVP +is VBZ B-VP +very RB B-ADJP +small JJ I-ADJP +. . O + +I PRP B-NP +'m VBP B-VP +not RB I-VP +prepared VBN I-VP +in IN B-PP +any DT B-NP +case NN I-NP +to TO B-VP +put VB I-VP +that IN B-NP +much JJ I-NP +money NN I-NP +into IN B-PP +a DT B-NP +policy NN I-NP +immediately RB B-ADVP +, , O +so IN O +I PRP B-NP +look VBP B-VP +into IN B-PP +the DT B-NP +broad JJ I-NP +category NN I-NP +called VBD B-VP +universal JJ B-NP +life NN I-NP +. . O + +Hugely RB B-ADJP +popular JJ I-ADJP +, , O +it PRP B-NP +is VBZ B-VP +far RB B-ADJP +more RBR I-ADJP +flexible JJ I-ADJP +than IN B-PP +straight JJ B-NP +whole JJ I-NP +life NN I-NP +. . O + +I PRP B-NP +can MD B-VP +adjust VB I-VP +the DT B-NP +amount NN I-NP +of IN B-PP +insurance NN B-NP +I PRP B-NP +want VBP B-VP +against IN B-PP +the DT B-NP +amount NN I-NP +going VBG B-VP +into IN B-PP +investment NN B-NP +; : O +I PRP B-NP +can MD B-VP +pay VB I-VP +more JJR B-NP +or CC I-NP +less JJR I-NP +than IN B-PP +the DT B-NP +so-called JJ I-NP +target NN I-NP +premium NN I-NP +in IN B-PP +a DT B-NP +given VBN I-NP +year NN I-NP +; : O +and CC O +I PRP B-NP +can MD B-VP +even RB I-VP +skip VB I-VP +payments NNS B-NP +if IN B-SBAR +my PRP$ B-NP +cash NN I-NP +reserves NNS I-NP +are VBP B-VP +enough RB B-ADJP +to TO B-VP +cover VB I-VP +the DT B-NP +insurance NN I-NP +portion NN I-NP +of IN B-PP +the DT B-NP +policy NN I-NP +. . O + +In IN B-PP +looking VBG B-VP +at IN B-PP +these DT B-NP +and CC I-NP +other JJ I-NP +policies NNS I-NP +, , O +I PRP B-NP +learn VBP B-VP +to TO I-VP +ask VB I-VP +pointed VBD B-NP +questions NNS I-NP +about IN B-PP +some DT B-NP +of IN B-PP +the DT B-NP +assumptions NNS I-NP +built VBN B-VP +into IN B-PP +`` `` O +policy NN B-NP +illustrations NNS I-NP +'' '' O +-- : O +the DT B-NP +rows NNS I-NP +of IN B-PP +numbers VBZ B-NP +that DT B-NP +show NN B-VP +me PRP B-NP +the DT B-NP +buildup NN I-NP +of IN B-PP +my PRP$ B-NP +cash NN I-NP +values NNS I-NP +over IN B-PP +the DT B-NP +years NNS I-NP +. . O + +They PRP B-NP +commonly RB B-ADVP +give VBP B-VP +two CD B-NP +scenarios NNS I-NP +: : O +One CD B-NP +is VBZ B-VP +based VBN I-VP +on IN B-PP +interest NN B-NP +rates NNS I-NP +that IN B-NP +the DT B-NP +company NN I-NP +guarantees NNS B-VP +-LRB- ( O +usually RB B-ADVP +4 CD B-NP +% NN I-NP +to TO I-NP +4.5 CD I-NP +% NN I-NP +-RRB- ) O +and CC O +the DT B-NP +other NN I-NP +on IN B-PP +the DT B-NP +rate NN I-NP +it PRP B-NP +is VBZ B-VP +currently RB I-VP +getting VBG I-VP +on IN B-PP +investment NN B-NP +, , O +often RB B-ADVP +8.5 CD B-NP +% NN I-NP +or CC I-NP +more JJR I-NP +. . O + +Projecting VBG B-VP +the DT B-NP +latter NN I-NP +over IN B-PP +several JJ B-NP +decades NNS I-NP +, , O +I PRP B-NP +find VBP B-VP +my PRP$ B-NP +cash NN I-NP +buildup NN I-NP +is VBZ B-VP +impressive JJ B-ADJP +-- : O +but CC O +can MD O +any DT B-NP +high JJ I-NP +interest NN I-NP +rate NN I-NP +prevail VB B-VP +for IN B-PP +that DT B-NP +long JJ I-NP +? . O + +Not RB B-ADJP +likely JJ I-ADJP +, , O +I PRP B-NP +think VBP B-VP +. . O + +Also RB B-ADVP +, , O +some DT B-NP +policy NN I-NP +illustrations NNS I-NP +assume VBP B-VP +that IN B-SBAR +mortality NN B-NP +costs NNS I-NP +will MD B-VP +decline VB I-VP +or CC O +that IN B-SBAR +I PRP B-NP +will MD B-VP +get VB I-VP +some DT B-NP +sort NN I-NP +of IN B-PP +dividend NN B-NP +bonus NN I-NP +after IN B-PP +the DT B-NP +10th JJ I-NP +year NN I-NP +. . O + +These DT B-NP +are VBP B-VP +not RB O +certain JJ B-ADJP +, , O +either RB B-ADVP +. . O + +Companies NNS B-NP +`` `` O +are VBP B-VP +n't RB O +comfortable JJ B-ADJP +playing VBG B-VP +these DT B-NP +games NNS I-NP +, , O +but CC O +they PRP B-NP +realize VBP B-VP +they PRP B-NP +'re VBP B-VP +under IN B-PP +pressure NN B-NP +to TO B-VP +make VB I-VP +their PRP$ B-NP +policies NNS I-NP +look VBP B-VP +good JJ B-ADJP +, , O +'' '' O +says VBZ B-VP +Timothy NNP B-NP +Pfiefer NNP I-NP +, , O +an DT B-NP +actuarial JJ I-NP +consultant NN I-NP +at IN B-PP +Tillinghast NNP B-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +Towers NNP B-NP +Perrin NNP I-NP +Co. NNP I-NP +, , O +the DT B-NP +big JJ I-NP +New NNP I-NP +York NNP I-NP +consulting NN I-NP +firm NN I-NP +. . O + +Another DT B-NP +factor NN I-NP +to TO B-VP +consider VB I-VP +: : O +Some DT B-NP +of IN B-PP +the DT B-NP +companies NNS I-NP +currently RB B-VP +earning VBG I-VP +very RB B-NP +high JJ I-NP +yields NNS I-NP +are VBP B-VP +doing VBG I-VP +so RB B-ADVP +through IN B-PP +substantial JJ B-NP +investment NN I-NP +in IN B-PP +junk NN B-NP +bonds NNS I-NP +, , O +and CC O +you PRP B-NP +know VBP B-VP +how WRB B-ADJP +nervous JJ I-ADJP +the DT B-NP +market NN I-NP +has VBZ B-VP +been VBN I-VP +about IN B-PP +those DT B-NP +lately RB B-ADVP +. . O + +There EX B-NP +are VBP B-VP +seemingly RB B-NP +endless JJ I-NP +twists NNS I-NP +to TO B-PP +universal JJ B-NP +life NN I-NP +, , O +and CC O +it PRP B-NP +pays VBZ B-VP +to TO I-VP +ask VB I-VP +questions NNS B-NP +about IN B-PP +all DT B-NP +of IN B-PP +them PRP B-NP +. . O + +At IN B-PP +a DT B-NP +back-yard JJ I-NP +barbecue NN I-NP +, , O +for IN B-PP +example NN B-NP +, , O +a DT B-NP +friend NN I-NP +boasts VBZ B-VP +that IN B-SBAR +she PRP B-NP +'ll MD B-VP +only RB I-VP +have VB I-VP +to TO I-VP +pay VB I-VP +premiums NNS B-NP +on IN B-PP +her PRP$ B-NP +John NNP I-NP +Hancock NNP I-NP +policy NN I-NP +for IN B-PP +seven CD B-NP +years NNS I-NP +and CC O +that IN B-SBAR +her PRP$ B-NP +death NN I-NP +benefits NNS I-NP +will MD B-VP +then RB I-VP +be VB I-VP +`` `` O +guaranteed VBN B-VP +. . O +'' '' O + +I PRP B-NP +call VBP B-VP +her PRP$ B-NP +agent NN I-NP +, , O +David NNP B-NP +Dominici NNP I-NP +. . O + +Yes UH B-ADVP +, , O +he PRP B-NP +says VBZ B-VP +, , O +premiums NNS B-NP +on IN B-PP +such JJ B-NP +variable-rate JJ I-NP +coverage NN I-NP +can MD B-VP +be VB I-VP +structured VBN I-VP +to TO B-VP +`` `` I-VP +vanish VBP I-VP +'' '' O +after IN B-PP +a DT B-NP +certain JJ I-NP +period NN I-NP +-- : O +but CC O +usually RB B-ADVP +only RB B-ADVP +if IN B-SBAR +interest NN B-NP +rates NNS I-NP +stay VBP B-VP +high JJ B-ADJP +enough RB I-ADJP +to TO B-VP +generate VB I-VP +sufficient JJ B-NP +cash NN I-NP +to TO B-VP +cover VB I-VP +the DT B-NP +annual JJ I-NP +cost NN I-NP +of IN B-PP +insurance NN B-NP +protection NN I-NP +. . O + +If IN B-SBAR +interest NN B-NP +rates NNS I-NP +plunge VBP B-VP +, , O +the DT B-NP +insurer NN I-NP +may MD B-VP +be VB I-VP +knocking VBG I-VP +on IN B-PP +my PRP$ B-NP +door NN I-NP +, , O +asking VBG B-VP +for IN B-PP +steeper JJR B-NP +premium NN I-NP +payments NNS I-NP +to TO B-VP +maintain VB I-VP +the DT B-NP +same JJ I-NP +amount NN I-NP +of IN B-PP +protection NN B-NP +. . O + +I PRP B-NP +do VBP B-VP +n't RB I-VP +like IN I-VP +the DT B-NP +sound NN I-NP +of IN B-PP +that DT B-NP +. . O + +Some DT B-NP +insurers NNS I-NP +have VBP B-VP +also RB I-VP +started VBN I-VP +offering NN I-VP +`` `` O +persistency NN B-NP +bonuses NNS I-NP +, , O +'' '' O +such JJ B-PP +as IN I-PP +extra JJ B-NP +dividends NNS I-NP +or CC O +a DT B-NP +marginally RB I-NP +higher JJR I-NP +interest NN I-NP +yield NN I-NP +, , O +if IN B-SBAR +the DT B-NP +policy NN I-NP +is VBZ B-VP +maintained VBN I-VP +for IN B-PP +10 CD B-NP +years NNS I-NP +. . O + +But CC O +Glenn NNP B-NP +Daily NNP I-NP +, , O +a DT B-NP +New NNP I-NP +York-based JJ I-NP +financial JJ I-NP +consultant NN I-NP +, , O +warns VBZ B-VP +that IN B-SBAR +many NN B-NP +of IN B-PP +these DT B-NP +bonuses NNS I-NP +are VBP B-VP +`` `` O +just RB B-NP +fantasies NNS I-NP +, , O +'' '' O +because IN B-SBAR +most RBS B-NP +are VBP B-VP +n't RB I-VP +guaranteed VBN I-VP +by IN B-PP +the DT B-NP +companies NNS I-NP +. . O + +And CC O +the DT B-NP +feature NN I-NP +is VBZ B-VP +so RB B-ADJP +new JJ I-ADJP +, , O +he PRP B-NP +adds VBZ B-VP +, , O +that IN B-SBAR +no DT B-NP +insurer NN I-NP +has VBZ B-VP +yet RB I-VP +established VBN I-VP +a DT B-NP +track NN I-NP +record NN I-NP +for IN B-PP +actually RB B-ADVP +making VBG B-VP +such JJ B-NP +payments NNS I-NP +. . O + +So-called JJ B-NP +living-benefits JJ I-NP +provisions NNS I-NP +also RB B-ADVP +merit VBP B-VP +a DT B-NP +close NN I-NP +inspection NN I-NP +. . O + +Offered NNP B-VP +by IN B-PP +insurers NNS B-NP +that WDT B-NP +include VBP B-VP +Security-Connecticut NNP B-NP +Life NNP I-NP +Insurance NNP I-NP +Co. NNP I-NP +, , O +Jackson NNP B-NP +National NNP I-NP +Life NNP I-NP +Insurance NNP I-NP +Co. NNP I-NP +, , O +and CC O +National NNP B-NP +Travelers NNP I-NP +Life NNP I-NP +Insurance NNP I-NP +Co. NNP I-NP +, , O +these DT B-NP +policy NN I-NP +riders NNS I-NP +let VBP B-VP +me PRP B-NP +tap VBP B-VP +a DT B-NP +portion NN I-NP +of IN B-PP +my PRP$ B-NP +death NN I-NP +benefits NNS I-NP +while IN B-SBAR +I PRP B-NP +'m VBP B-VP +still RB B-ADVP +alive JJ B-ADJP +. . O + +Some DT B-NP +provisions NNS I-NP +would MD B-VP +let VB I-VP +me PRP B-NP +collect VB B-VP +a DT B-NP +percentage NN I-NP +of IN B-PP +the DT B-NP +policy NN I-NP +'s POS B-NP +face NN I-NP +value NN I-NP +to TO B-VP +pay VB I-VP +for IN B-PP +long-term JJ B-NP +care NN I-NP +such JJ B-PP +as IN I-PP +nursing-home NN B-NP +stays VBZ I-NP +; : O +others NNS B-NP +would MD B-VP +allow VB I-VP +payments NNS B-NP +for IN B-PP +catastrophic JJ B-NP +illnesses NNS I-NP +and CC I-NP +conditions NNS I-NP +such JJ B-PP +as IN I-PP +cancer NN B-NP +, , O +heart NN B-NP +attarcks NNS I-NP +, , O +renal JJ B-NP +failure NN I-NP +and CC O +kidney NN B-NP +transplants NNS I-NP +. . O + +But CC O +the DT B-NP +catastrophic JJ I-NP +events NNS I-NP +for IN B-PP +which WDT B-NP +the DT B-NP +policyholder NN I-NP +can MD B-VP +collect VB I-VP +are VBP B-VP +narrowly RB I-VP +defined VBN I-VP +, , O +vary VBP B-VP +from IN B-PP +policy NN B-NP +to TO B-PP +policy NN B-NP +, , O +and CC O +generally RB B-VP +permit VB I-VP +use NN B-NP +of IN B-PP +only RB B-NP +a DT I-NP +small JJ I-NP +fraction NN I-NP +of IN B-PP +the DT B-NP +face NN I-NP +amount NN I-NP +of IN B-PP +insurance NN B-NP +. . O + +Also RB B-ADVP +, , O +financial JJ B-NP +planners NNS I-NP +advising VBG B-VP +on IN B-PP +insurance NN B-NP +say VBP B-VP +that IN B-SBAR +to TO B-PP +their PRP$ B-NP +knowledge NN I-NP +there EX B-NP +has VBZ B-VP +not RB I-VP +yet RB I-VP +been VBN I-VP +a DT B-NP +tax NN I-NP +ruling NN I-NP +exempting VBG B-VP +these DT B-NP +advance NN I-NP +payments NNS I-NP +from IN B-PP +taxes NNS B-NP +. . O + +And CC O +considering VBG B-PP +the DT B-NP +extra JJ I-NP +cost NN I-NP +of IN B-PP +such JJ B-NP +provisions NNS I-NP +, , O +some DT B-NP +figure NN B-VP +that IN B-SBAR +people NNS B-NP +interested JJ B-ADJP +in IN B-PP +, , O +say VBP B-INTJ +, , O +paying VBG B-VP +for IN B-PP +extended VBN B-NP +nursing-home NN I-NP +care NN I-NP +would MD B-VP +be VB I-VP +better JJR B-ADJP +off IN I-ADJP +just RB B-ADVP +buying VBG B-VP +a DT B-NP +separate JJ I-NP +policy NN I-NP +that WDT B-NP +provides VBZ B-VP +it PRP B-NP +. . O + +I PRP B-NP +'m VBP B-VP +more RBR I-VP +favorably RB I-VP +impressed VBN I-VP +by IN B-PP +`` `` O +no-load JJ B-NP +life NN I-NP +, , O +'' '' O +even RB B-SBAR +though IN I-SBAR +it PRP B-NP +turns VBZ B-VP +out IN B-PRT +to TO B-VP +be VB I-VP +low-load JJ B-NP +life NN I-NP +. . O + +Insureres NNS B-NP +selling VBG B-VP +these DT B-NP +policies NNS I-NP +market NN B-VP +them PRP B-NP +directly RB B-ADVP +to TO B-PP +the DT B-NP +public JJ I-NP +or CC O +otherwise RB B-VP +do VBP I-VP +n't RB I-VP +use VB I-VP +commissioned VBN B-NP +salesmen NNS I-NP +; : O +there EX B-NP +is VBZ B-VP +still RB B-ADVP +a DT B-NP +load NN I-NP +-- : O +annual JJ B-NP +administrative JJ I-NP +fees NNS I-NP +and CC O +initial JJ B-NP +`` `` I-NP +setup NN I-NP +'' '' I-NP +charges NNS I-NP +-- : O +but CC O +I PRP B-NP +figure VBP B-VP +that IN B-SBAR +the DT B-NP +lack NN I-NP +of IN B-PP +commission NN B-NP +and CC B-PP +of IN B-PP +`` `` O +surrender NN B-NP +fees NNS I-NP +'' '' O +for IN B-PP +dropping VBG B-VP +the DT B-NP +policy NN I-NP +early JJ B-ADVP +still RB B-ADVP +saves VBZ B-VP +me PRP B-NP +a DT B-NP +lot NN I-NP +. . O + +I PRP B-NP +compared VBD B-VP +one CD B-NP +universal JJ I-NP +policy NN I-NP +for IN B-PP +$ $ B-NP +130,000 CD I-NP +face NN I-NP +amount NN I-NP +from IN B-PP +such JJ B-NP +an DT I-NP +insurer NN I-NP +, , O +American NNP B-NP +Life NNP I-NP +Insurance NNP I-NP +Corp. NNP I-NP +of IN B-PP +Lincoln NNP B-NP +, , O +Neb. NNP B-NP +, , O +with IN B-PP +a DT B-NP +similar JJ I-NP +offering NN I-NP +from IN B-PP +Equitable NNP B-NP +Life NNP I-NP +Assurance NNP I-NP +Society NNP I-NP +of IN B-PP +the DT B-NP +U.S. NNP I-NP +, , O +which WDT B-NP +operates VBZ B-VP +through IN B-PP +11,000 CD B-NP +commissioned VBN I-NP +salesmen NNS I-NP +. . O + +After IN B-PP +one CD B-NP +year NN I-NP +I PRP B-NP +could MD B-VP +walk VB I-VP +away RB B-ADVP +from IN B-PP +the DT B-NP +Ameritas NNP I-NP +policy NN I-NP +with IN B-PP +$ $ B-NP +792 CD I-NP +, , O +but CC O +Id NN B-NP +get VB B-VP +only RB B-NP +$ $ I-NP +14 CD I-NP +from IN B-PP +the DT B-NP +Equitable NNP I-NP +. . O + +The DT B-NP +difference NN I-NP +is VBZ B-VP +magnified VBN I-VP +by IN B-PP +time NN B-NP +, , O +too RB B-ADVP +. . O + +At IN B-PP +age NN B-NP +65 CD I-NP +, , O +when WRB B-ADVP +I PRP B-NP +'d MD B-VP +stop VB I-VP +paying VBG I-VP +premiums NNS B-NP +, , O +the DT B-NP +Ameritas NNP I-NP +offering NN I-NP +would MD B-VP +have VB I-VP +a DT B-NP +projected VBN I-NP +cash NN I-NP +value NN I-NP +$ $ B-NP +14,000 CD I-NP +higher JJR B-ADJP +than IN B-PP +the DT B-NP +other NN I-NP +, , O +even RB B-SBAR +though IN I-SBAR +the DT B-NP +Equitable NNP I-NP +'s POS B-NP +policy NN I-NP +illustration NN I-NP +assumed VBD B-VP +a DT B-NP +fractionally RB I-NP +higher JJR I-NP +interest NN I-NP +rate NN I-NP +. . O + +Did VBD O +I PRP B-NP +buy VBP B-VP +it PRP B-NP +? . O + +Well UH B-INTJ +, , O +not RB B-ADVP +yet RB I-ADVP +. . O + +I PRP B-NP +'m VBP B-VP +thinking VBG I-VP +about IN B-PP +using VBG B-VP +the DT B-NP +$ $ I-NP +871 CD I-NP +annual JJ I-NP +premium NN I-NP +to TO B-VP +finance VB I-VP +a DT B-NP +trip NN I-NP +to TO B-PP +Paris NNP B-NP +first JJ B-ADVP +. . O + +A DT B-NP +person NN I-NP +can MD B-VP +do VB I-VP +some DT B-NP +heavy JJ I-NP +thinking NN I-NP +about IN B-PP +insurance NN B-NP +there EX B-ADVP +-- : O +and CC O +shop NN B-VP +for IN B-PP +something NN B-NP +more RBR B-ADJP +exciting JJ I-ADJP +while IN B-SBAR +she PRP B-NP +'s VBZ B-VP +doing VBG I-VP +it PRP B-NP +. . O + +Rorer NNP B-NP +Group NNP I-NP +Inc. NNP I-NP +will MD B-VP +report VB I-VP +that IN B-SBAR +third-quarter JJ B-NP +profit NN I-NP +rose VBD B-VP +more JJR B-NP +than IN I-NP +15 CD I-NP +% NN I-NP +from IN B-PP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +, , O +though IN B-SBAR +the DT B-NP +gain NN I-NP +is VBZ B-VP +wholly RB B-ADJP +due JJ I-ADJP +to TO B-PP +asset NN B-NP +sales NNS I-NP +, , O +Robert NNP B-NP +Cawthorn NNP I-NP +, , O +chairman NN B-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +, , O +said VBD B-VP +. . O + +His PRP$ B-NP +projection NN I-NP +indicates VBZ B-VP +profit NN B-NP +in IN B-PP +the DT B-NP +latest JJS I-NP +quarter NN I-NP +of IN B-PP +more JJR B-NP +than IN I-NP +$ $ I-NP +17.4 CD I-NP +million CD I-NP +, , O +or CC O +55 NN B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +compared VBN B-PP +with IN B-PP +$ $ B-NP +15.2 CD I-NP +million CD I-NP +, , O +or CC O +48 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Mr. NNP B-NP +Cawthorn NNP I-NP +said VBD B-VP +in IN B-PP +an DT B-NP +interview NN I-NP +that IN B-SBAR +sales NNS B-NP +will MD B-VP +show VB I-VP +an DT B-NP +increase NN I-NP +from IN B-PP +a DT B-NP +year NN I-NP +ago RB B-ADVP +of IN B-PP +`` `` O +somewhat RB B-NP +less JJR I-NP +than IN I-NP +10 CD I-NP +% NN I-NP +. . O +'' '' O + +Through IN B-PP +the DT B-NP +first JJ I-NP +six CD I-NP +months NNS I-NP +of IN B-PP +1989 CD B-NP +, , O +sales NNS B-NP +had VBD B-VP +grown VBN I-VP +about IN B-NP +12 CD I-NP +% NN I-NP +from IN B-PP +the DT B-NP +year-earlier JJ I-NP +period NN I-NP +. . O + +Growth NN B-NP +of IN B-PP +10 CD B-NP +% NN I-NP +would MD B-VP +make VB I-VP +sales NNS B-NP +for IN B-PP +the DT B-NP +latest JJS I-NP +quarter NN I-NP +$ $ B-NP +269 CD I-NP +million CD I-NP +, , O +compared VBN B-PP +with IN B-PP +$ $ B-NP +244.6 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Mr. NNP B-NP +Cawthorn NNP I-NP +said VBD B-VP +the DT B-NP +profit NN I-NP +growth NN I-NP +in IN B-PP +the DT B-NP +latest JJS I-NP +quarter NN I-NP +was VBD B-VP +due JJ B-ADJP +to TO B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +two CD B-NP +Rorer NNP I-NP +drugs NNS I-NP +. . O + +Asilone NNP B-NP +, , O +an DT B-NP +antacid NN I-NP +, , O +was VBD B-VP +sold VBN I-VP +to TO B-PP +Boots NNP B-NP +PLC NNP I-NP +, , O +London NNP B-NP +. . O + +Thrombinar NNP B-NP +, , O +a DT B-NP +drug NN I-NP +used VBN B-VP +to TO B-VP +stanch VB I-VP +bleeding VBG B-NP +, , O +was VBD B-VP +sold VBN I-VP +to TO B-PP +Jones NNP B-NP +Medical NNP I-NP +Industries NNP I-NP +Inc. NNP I-NP +, , O +St. NNP B-NP +Louis NNP I-NP +. . O + +He PRP B-NP +said VBD B-VP +Rorer NNP B-NP +sold VBD B-VP +the DT B-NP +drugs NNS I-NP +for IN B-PP +`` `` O +nice JJ B-NP +prices NNS I-NP +'' '' O +and CC O +will MD B-VP +record VB I-VP +a DT B-NP +combined VBN I-NP +, , I-NP +pretax JJ I-NP +gain NN I-NP +on IN B-PP +the DT B-NP +sales NNS I-NP +of IN B-PP +$ $ B-NP +20 CD I-NP +million CD I-NP +. . O + +As IN B-SBAR +the DT B-NP +gain NN I-NP +from IN B-PP +the DT B-NP +sales NNS I-NP +indicates VBZ B-VP +, , O +operating VBG B-NP +profit NN I-NP +was VBD B-VP +`` `` O +significantly RB B-ADVP +'' '' B-PP +below IN I-PP +the DT B-NP +year-earlier JJ I-NP +level NN I-NP +, , O +Mr. NNP B-NP +Cawthorn NNP I-NP +said VBD B-VP +. . O + +Rorer NNP B-NP +in IN B-PP +July NNP B-NP +had VBD B-VP +projected VBN I-VP +lower JJR B-NP +third-quarter JJ I-NP +operating NN I-NP +profit NN I-NP +but CC O +higher JJR B-NP +profit NN I-NP +for IN B-PP +all DT B-NP +of IN B-PP +1989 CD B-NP +. . O + +He PRP B-NP +said VBD B-VP +the DT B-NP +company NN I-NP +is VBZ B-VP +still RB I-VP +looking VBG I-VP +for IN B-PP +`` `` O +a DT B-NP +strong JJ I-NP +fourth JJ I-NP +quarter NN I-NP +in IN B-PP +all DT B-NP +areas NNS I-NP +-- : O +sales NNS B-NP +, , O +operating VBG B-NP +income NN I-NP +and CC O +net JJ B-NP +income NN I-NP +. . O +'' '' O + +Mr. NNP B-NP +Cawthorn NNP I-NP +attributed VBD B-VP +the DT B-NP +decline NN I-NP +in IN B-PP +third-quarter JJ B-NP +operating NN I-NP +profit NN I-NP +to TO B-PP +the DT B-NP +stronger JJR I-NP +dollar NN I-NP +, , O +which WDT B-NP +reduces VBZ B-VP +the DT B-NP +value NN I-NP +of IN B-PP +overseas JJ B-NP +profit NN I-NP +when WRB B-ADVP +it PRP B-NP +is VBZ B-VP +translated VBN I-VP +into IN B-PP +dollars NNS B-NP +; : O +to TO B-PP +accelerated VBN B-NP +buying VBG I-NP +of IN B-PP +Rorer NNP B-NP +products NNS I-NP +in IN B-PP +the DT B-NP +second JJ I-NP +quarter NN I-NP +because IN B-PP +of IN I-PP +a DT B-NP +then-pending JJ I-NP +July NNP I-NP +1 CD I-NP +price NN I-NP +increase NN I-NP +, , B-PP +and CC I-PP +to TO B-PP +higher JJR B-NP +marketing NN I-NP +expenses NNS I-NP +for IN B-PP +Rorer NNP B-NP +'s POS B-NP +Maalox NNP I-NP +antacid NN I-NP +, , O +whose WP$ B-NP +sales NNS I-NP +and CC I-NP +market NN I-NP +share NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +had VBD B-VP +slipped VBN I-VP +in IN B-PP +the DT B-NP +first JJ I-NP +half NN I-NP +of IN B-PP +1989 CD B-NP +. . O + +He PRP B-NP +said VBD B-VP +Rorer NNP B-NP +opted VBD B-VP +to TO I-VP +sell VB I-VP +Asilone NNP B-NP +and CC I-NP +Thrombinar NNP I-NP +to TO B-VP +raise VB I-VP +revenue NN B-NP +that WDT B-NP +would MD B-VP +`` `` I-VP +kick VB I-VP +start NN I-VP +'' '' O +its PRP$ B-NP +increased VBN I-NP +marketing NN I-NP +efforts NNS I-NP +behind IN B-PP +Maalox NNP B-NP +, , O +still RB B-ADVP +its PRP$ B-NP +top-selling JJ I-NP +product NN I-NP +with IN B-PP +about RB B-NP +$ $ I-NP +215 CD I-NP +million CD I-NP +in IN B-PP +world-wide JJ B-NP +sales NNS I-NP +in IN B-PP +1988 CD B-NP +. . O + +`` `` O +We PRP B-NP +had VBD B-VP +underfunded VBN I-VP +Maalox NNP B-NP +for IN B-PP +a DT B-NP +year NN I-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +, , O +because IN B-SBAR +the DT B-NP +company NN I-NP +was VBD B-VP +concentrating VBG I-VP +on IN B-PP +research NN B-NP +and CC I-NP +development NN I-NP +and CC O +promoting VBG B-VP +other JJ B-NP +drugs NNS I-NP +. . O + +He PRP B-NP +said VBD B-VP +Rorer NNP B-NP +will MD B-VP +spend VB I-VP +$ $ B-NP +15 CD I-NP +million CD I-NP +to TO I-NP +$ $ I-NP +20 CD I-NP +million CD I-NP +more JJR I-NP +on IN B-PP +Maalox NNP B-NP +advertising NN I-NP +and CC I-NP +promotion NN I-NP +in IN B-PP +the DT B-NP +second JJ I-NP +half NN I-NP +of IN B-PP +1989 CD B-NP +than IN B-PP +in IN B-PP +the DT B-NP +year-earlier JJ I-NP +period NN I-NP +. . O + +A DT B-NP +`` `` I-NP +big JJ I-NP +chunk NN I-NP +'' '' O +of IN B-PP +that DT B-NP +additional JJ I-NP +spending NN I-NP +came VBD B-VP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +, , O +he PRP B-NP +said VBD B-VP +. . O + +Hoechst NNP B-NP +AG NNP I-NP +said VBD B-VP +it PRP B-NP +will MD B-VP +stop VB I-VP +producing VBG I-VP +fertilizer NN B-NP +in IN B-PP +1990 CD B-NP +because IN B-PP +of IN I-PP +continued VBN B-NP +losses NNS I-NP +and CC O +a DT B-NP +bleak JJ I-NP +outlook NN I-NP +. . O + +The DT B-NP +West JJ I-NP +German JJ I-NP +chemical NN I-NP +concern NN I-NP +said VBD B-VP +it PRP B-NP +will MD B-VP +close VB I-VP +the DT B-NP +last JJ I-NP +remaining VBG I-NP +fertilizer NN I-NP +plant NN I-NP +in IN B-PP +Oberhausen NNP B-NP +in IN B-PP +the DT B-NP +fall NN I-NP +of IN B-PP +next JJ B-NP +year NN I-NP +. . O + +Hoechst NNP B-NP +said VBD B-VP +the DT B-NP +fertilizer NN I-NP +market NN I-NP +faces VBZ B-VP +overcapacity NN B-NP +in IN B-PP +Western NNP B-NP +Europe NNP I-NP +, , O +rising VBG B-NP +imports NNS I-NP +from IN B-PP +East NNP B-NP +bloc NN I-NP +countries NNS I-NP +and CC O +overseas JJ B-ADVP +, , O +and CC O +declining VBG B-NP +demand NN I-NP +. . O + +HomeFed NNP B-NP +Corp. NNP I-NP +said VBD B-VP +its PRP$ B-NP +main JJ I-NP +subsidiary NN I-NP +, , O +Home NNP B-NP +Federal NNP I-NP +Savings NNP I-NP +& CC I-NP +Loan NNP I-NP +, , O +converted VBN B-VP +from IN B-PP +a DT B-NP +federal JJ I-NP +savings NNS I-NP +and CC I-NP +loan NN I-NP +to TO B-PP +a DT B-NP +federal JJ I-NP +savings NNS I-NP +bank VBP I-NP +and CC O +changed VBN B-VP +its PRP$ B-NP +name NN I-NP +to TO B-PP +HomeFed NNP B-NP +Bank NNP I-NP +. . O + +The DT B-NP +federal JJ I-NP +Office NNP I-NP +of IN B-PP +Thrift NNP B-NP +Supervision NNP I-NP +approved VBD B-VP +the DT B-NP +conversion NN I-NP +last JJ B-NP +Friday NNP I-NP +, , O +HomeFed NNP B-NP +said VBD B-VP +. . O + +The DT B-NP +change NN I-NP +in IN B-PP +charter NN B-NP +does VBZ B-VP +n't RB I-VP +alter VB I-VP +the DT B-NP +federal JJ I-NP +insurance NN I-NP +of IN B-PP +deposits NNS B-NP +, , O +federal JJ B-NP +regulatory JJ I-NP +powers NNS I-NP +or CC O +company NN B-NP +operations NNS I-NP +, , O +a DT B-NP +spokesman NN I-NP +said VBD B-VP +. . O + +It PRP B-NP +was VBD B-VP +the DT B-NP +second JJ I-NP +anniversary NN I-NP +of IN B-PP +the DT B-NP +1987 CD I-NP +crash NN I-NP +, , O +but CC O +this DT B-NP +time NN I-NP +it PRP B-NP +was VBD B-VP +different JJ B-ADJP +. . O + +Stocks NNS B-NP +rallied VBD B-VP +on IN B-PP +good JJ B-NP +earnings NNS I-NP +reports NNS I-NP +and CC B-PP +on IN B-PP +data NNS B-NP +that WDT B-NP +showed VBD B-VP +less JJR B-NP +inflation NN I-NP +than IN B-SBAR +expected VBN B-VP +. . O + +Blue JJ B-NP +chips NNS I-NP +led VBD B-VP +the DT B-NP +march NN I-NP +up IN B-ADVP +in IN B-PP +heavy JJ B-NP +trading NN I-NP +. . O + +The DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +rose VBD B-VP +39.55 CD B-NP +points NNS I-NP +to TO B-PP +2683.20 CD B-NP +. . O + +The DT B-NP +30 CD I-NP +industrials NNS I-NP +led VBD B-VP +the DT B-NP +market NN I-NP +higher JJR B-ADVP +from IN B-PP +the DT B-NP +opening NN I-NP +bell NN I-NP +as IN B-SBAR +foreign JJ B-NP +buyers NNS I-NP +stepped VBD B-VP +in RB B-ADVP +. . O + +By IN B-PP +afternoon NN B-NP +, , O +the DT B-NP +broader JJR I-NP +market NN I-NP +joined VBD B-VP +the DT B-NP +advance NN I-NP +in IN B-PP +full JJ B-NP +strength NN I-NP +. . O + +Standard NNP B-NP +& CC I-NP +Poor NNP I-NP +'s POS B-NP +500-stock NNP I-NP +Index NNP I-NP +rose VBD B-VP +5.37 CD B-NP +to TO B-PP +347.13 CD B-NP +and CC O +the DT B-NP +Nasdaq NNP I-NP +composite JJ I-NP +index NN I-NP +jumped VBD B-VP +7.52 CD B-NP +to TO B-PP +470.80 CD B-NP +. . O + +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +volume NN I-NP +swelled VBD B-VP +to TO B-PP +198,120,000 CD B-NP +shares NNS I-NP +. . O + +The DT B-NP +industrials NNS I-NP +were VBD B-VP +up IN B-ADVP +about IN B-NP +60 CD I-NP +points NNS I-NP +in IN B-PP +the DT B-NP +afternoon NN I-NP +, , O +but CC O +cautious JJ B-NP +investors NNS I-NP +took VBD B-VP +profits NNS B-NP +before IN B-PP +the DT B-NP +close NN I-NP +. . O + +Traders NNS B-NP +said VBD B-VP +a DT B-NP +variety NN I-NP +of IN B-PP +factors NNS B-NP +triggered VBD B-VP +the DT B-NP +rally NN I-NP +. . O + +The DT B-NP +consumer NN I-NP +price NN I-NP +index NN I-NP +rose VBD B-VP +0.2 CD B-NP +% NN I-NP +in IN B-PP +September NNP B-NP +, , O +while IN B-SBAR +many JJ B-NP +economists NNS I-NP +were VBD B-VP +looking VBG I-VP +for IN B-PP +a DT B-NP +0.4 CD I-NP +% NN I-NP +increase NN I-NP +. . O + +Stock-index NN B-NP +arbitrage NN I-NP +buy NN I-NP +programs NNS I-NP +-- : O +in IN B-PP +which WDT B-NP +traders NNS B-NP +buy VBP B-VP +stock NN B-NP +against IN B-PP +offsetting VBG B-NP +positions NNS I-NP +in IN B-PP +futures NNS B-NP +to TO B-VP +lock VB I-VP +in IN B-PRT +price NN B-NP +differences NNS I-NP +-- : O +helped VBD B-VP +the DT B-NP +rally NN I-NP +'s POS B-NP +momentum NN I-NP +. . O + +The DT B-NP +euphoria NN I-NP +was VBD B-VP +such JJ B-ADJP +that IN B-SBAR +investors NNS B-NP +responded VBD B-VP +to TO B-PP +good JJ B-NP +earnings NNS I-NP +reports NNS I-NP +of IN B-PP +companies NNS B-NP +such JJ B-PP +as IN I-PP +American NNP B-NP +Express NNP I-NP +, , O +while IN B-SBAR +ignoring VBG B-VP +the DT B-NP +disappointing JJ I-NP +profits NNS I-NP +of IN B-PP +companies NNS B-NP +such JJ B-PP +as IN I-PP +Caterpillar NNP B-NP +, , O +analysts NNS B-NP +said VBD B-VP +. . O + +Stock-index NN B-NP +arbitrage NN I-NP +trading NN I-NP +was VBD B-VP +a DT B-NP +minor JJ I-NP +influence NN I-NP +in IN B-PP +yesterday NN B-NP +'s POS B-NP +rally NN I-NP +, , O +traders NNS B-NP +said VBD B-VP +. . O + +Institutional JJ B-NP +buyers NNS I-NP +were VBD B-VP +the DT B-NP +main JJ I-NP +force NN I-NP +pushing VBG B-VP +blue JJ B-NP +chips NNS I-NP +higher JJR B-ADVP +. . O + +To TO B-PP +the DT B-NP +amazement NN I-NP +of IN B-PP +some DT B-NP +traders NNS I-NP +, , O +takeover NN B-NP +stocks NNS I-NP +were VBD B-VP +climbing VBG I-VP +again RB B-ADVP +. . O + +Hilton NNP B-NP +rose VBD B-VP +2 CD B-NP +7\/8 CD I-NP +to TO B-PP +100 CD B-NP +, , O +for IN B-PP +example NN B-NP +. . O + +Last NNP B-NP +Friday NNP I-NP +, , O +takeover NN B-NP +traders NNS I-NP +spilled VBD B-VP +out IN B-ADVP +of IN B-PP +Hilton NNP B-NP +, , O +knocking VBG B-VP +the DT B-NP +stock NN I-NP +down RB B-ADVP +21 CD B-NP +1\/2 CD I-NP +to TO B-PP +85 CD B-NP +. . O + +Among IN B-PP +other JJ B-NP +stocks NNS I-NP +involved VBN B-VP +in IN B-PP +restructurings NNS B-NP +or CC O +rumored VBN B-VP +to TO I-VP +be VB I-VP +so RB B-ADVP +: : O +Holiday NNP B-NP +Corp. NNP I-NP +gained VBD B-VP +1 CD B-NP +7\/8 CD I-NP +to TO B-PP +73 CD B-NP +and CC O +Honeywell NNP B-NP +rose VBD B-VP +2 CD B-NP +7\/8 CD I-NP +to TO B-PP +81 CD B-NP +1\/2 CD I-NP +. . O + +One CD B-NP +floor NN I-NP +trader NN I-NP +noted VBD B-VP +in IN B-PP +astonishment NN B-NP +that DT B-SBAR +nobody NN B-NP +seemed VBD B-VP +to TO I-VP +mind VB I-VP +the DT B-NP +news NN I-NP +that IN B-SBAR +British JJ B-NP +Airways NNPS I-NP +is VBZ B-VP +n't RB I-VP +making VBG I-VP +a DT B-NP +special JJ I-NP +effort NN I-NP +to TO B-VP +revive VB I-VP +the DT B-NP +UAL NNP I-NP +buy-out NN I-NP +. . O + +The DT B-NP +announcement NN I-NP +of IN B-PP +the DT B-NP +buy-out NN I-NP +'s POS B-NP +troubles NNS I-NP +triggered VBD B-VP +the DT B-NP +market NN I-NP +'s POS B-NP +nose NN I-NP +dive NN I-NP +a DT B-NP +week NN I-NP +ago RB B-ADVP +. . O + +Takeover NN B-NP +enthusiasm NN I-NP +may MD B-VP +have VB I-VP +been VBN I-VP +renewed VBN I-VP +when WRB B-ADVP +an DT B-NP +investor NN I-NP +group NN I-NP +disclosed VBD B-VP +yesterday NN B-NP +that IN B-SBAR +it PRP B-NP +had VBD B-VP +obtained VBN I-VP +all PDT B-NP +the DT I-NP +financing NN I-NP +required VBN B-VP +to TO B-VP +complete VB I-VP +its PRP$ B-NP +$ $ I-NP +1.6 CD I-NP +billion CD I-NP +leveraged JJ I-NP +buy-out NN I-NP +of IN B-PP +American NNP B-NP +Medical NNP I-NP +International NNP I-NP +. . O + +`` `` O +That DT B-NP +'s VBZ B-VP +put NN I-VP +some DT B-NP +oomph NN I-NP +back RB B-ADVP +into IN B-PP +this DT B-NP +market NN I-NP +, , O +'' '' O +said VBD B-VP +Peter NNP B-NP +VandenBerg NNP I-NP +, , O +a DT B-NP +vice NN I-NP +president NN I-NP +of IN B-PP +equity NN B-NP +trading NN I-NP +at IN B-PP +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +. . O + +But CC O +some DT B-NP +traders NNS I-NP +thought VBD B-VP +there EX B-NP +was VBD B-VP +less JJR B-NP +to TO B-PP +the DT B-NP +rally NN I-NP +than IN B-SBAR +met VBN B-VP +the DT B-NP +eye NN I-NP +. . O + +`` `` O +There EX B-NP +is VBZ B-VP +no DT B-NP +strength NN I-NP +behind IN B-PP +this DT B-NP +rally NN I-NP +, , O +'' '' O +asserted VBD B-VP +Chung NNP B-NP +Lew NNP I-NP +, , O +head NN B-NP +trader NN I-NP +at IN B-PP +Kleinwort NNP B-NP +Benson NNP I-NP +North NNP I-NP +America NNP I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +traders NNS B-NP +squaring VBG B-VP +positions NNS B-NP +. . O + +It PRP B-NP +'s VBZ B-VP +not RB O +good JJ B-ADJP +; : O +the DT B-NP +market NN I-NP +is VBZ B-VP +setting VBG I-VP +up IN B-PRT +for IN B-PP +another DT B-NP +fall NN I-NP +. . O +'' '' O + +Indeed RB B-ADVP +, , O +many JJ B-NP +traders NNS I-NP +said VBD B-VP +that DT O +uncertainty NN B-NP +about IN B-PP +today NN B-NP +'s POS B-NP +monthly JJ I-NP +expiration NN I-NP +of IN B-PP +stocks-index JJ B-NP +futures NNS I-NP +and CC I-NP +options NNS I-NP +, , O +and CC O +options NNS B-NP +on IN B-PP +individual JJ B-NP +stocks NNS I-NP +, , O +prompted VBD B-VP +a DT B-NP +lot NN I-NP +of IN B-PP +buying VBG B-NP +by IN B-PP +speculative JJ B-NP +traders NNS I-NP +who WP B-NP +were VBD B-VP +unwinding NN I-VP +positions NNS B-NP +that WDT B-NP +were VBD B-VP +bets NNS B-NP +on IN B-PP +declining VBG B-NP +stock NN I-NP +prices NNS I-NP +. . O + +The DT B-NP +number NN I-NP +of IN B-PP +outstanding JJ B-NP +contracts NNS I-NP +in IN B-PP +the DT B-NP +October NNP I-NP +Major NNP I-NP +Market NNP I-NP +Index NNP I-NP +jumped VBD B-VP +from IN B-PP +5,273 CD B-NP +on IN B-PP +Friday NNP B-NP +to TO B-PP +9,023 CD B-NP +on IN B-PP +Monday NNP B-NP +. . O + +The DT B-NP +MMI NNP I-NP +is VBZ B-VP +a DT B-NP +20-stock JJ I-NP +index NN I-NP +that IN B-NP +mimics VBZ B-VP +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +. . O + +Outstanding JJ B-NP +contracts NNS I-NP +are VBP B-VP +those DT B-NP +that WDT B-NP +remain VBP B-VP +to TO I-VP +be VB I-VP +liquidated VBN I-VP +. . O + +By IN B-PP +Wednesday NNP B-NP +, , O +the DT B-NP +outstanding JJ I-NP +October NNP I-NP +contracts NNS I-NP +amounted VBD B-VP +to TO B-PP +8,524 CD B-NP +, , O +representing VBG B-VP +about RB B-NP +$ $ I-NP +1.13 CD I-NP +billion CD I-NP +in IN B-PP +stock NN B-NP +, , O +noted VBD B-VP +Donald NNP B-NP +Selkin NNP I-NP +, , O +head NN B-NP +of IN B-PP +stock-index NN B-NP +futures NNS I-NP +research VBP I-NP +at IN B-PP +Prudential-Bache NNP B-NP +Securities NNP I-NP +, , O +who WP B-NP +expects VBZ B-VP +a DT B-NP +volatile JJ I-NP +expiration NN I-NP +today NN B-NP +. . O + +`` `` O +There EX B-NP +has VBZ B-VP +been VBN I-VP +a DT B-NP +tremendous JJ I-NP +increase NN I-NP +'' '' O +in IN B-PP +MMI NNP B-NP +positions NNS I-NP +, , O +Mr. NNP B-NP +Selkin NNP I-NP +said VBD B-VP +. . O + +Consumer NN B-NP +stocks NNS I-NP +once RB B-ADVP +again RB I-ADVP +set VBN B-VP +the DT B-NP +pace NN I-NP +for IN B-PP +blue-chip JJ B-NP +issues NNS I-NP +. . O + +Philip NNP B-NP +Morris NNP I-NP +added VBD B-VP +1 CD B-NP +1\/8 CD I-NP +to TO B-PP +44 CD B-NP +1\/2 CD I-NP +in IN B-PP +Big NNP B-NP +Board NNP I-NP +composite JJ I-NP +trading NN I-NP +of IN B-PP +3.7 CD B-NP +million CD I-NP +shares NNS I-NP +, , O +Coca-Cola NNP B-NP +Co. NNP I-NP +gained VBD B-VP +2 CD B-NP +3\/8 CD I-NP +to TO B-PP +70 CD B-NP +3\/8 CD I-NP +, , O +Merck NNP B-NP +gained VBD B-VP +1 CD B-NP +3\/8 CD I-NP +to TO B-PP +77 CD B-NP +3\/8 CD I-NP +and CC O +American NNP B-NP +Telephone NNP I-NP +& CC I-NP +Telegraph NNP I-NP +advanced VBD B-VP +7\/8 CD B-NP +to TO B-PP +43 CD B-NP +3\/8 CD I-NP +on IN B-PP +2.5 CD B-NP +million CD I-NP +shares NNS I-NP +. . O + +American NNP B-NP +Medical NNP I-NP +jumped VBD B-VP +1 CD B-NP +7\/8 CD I-NP +to TO B-PP +23 CD B-NP +5\/8 CD I-NP +. . O + +IMA NNP B-NP +Acquisition NNP I-NP +, , O +an DT B-NP +investor NN I-NP +group NN I-NP +that WDT B-NP +includes VBZ B-VP +First NNP B-NP +Boston NNP I-NP +and CC O +the DT B-NP +Pritzker NNP I-NP +family NN I-NP +of IN B-PP +Chicago NNP B-NP +, , O +said VBD B-VP +Chemical NNP B-NP +Bank NNP I-NP +had VBD B-VP +made VBN I-VP +arrangements NNS B-NP +for IN B-SBAR +23 CD B-NP +other JJ I-NP +banks NNS I-NP +to TO B-VP +provide VB I-VP +$ $ B-NP +509 CD I-NP +million CD I-NP +in IN B-PP +bank NN B-NP +financing NN I-NP +for IN B-PP +the DT B-NP +buy-out NN I-NP +offer NN I-NP +. . O + +Chemical NNP B-NP +and CC O +six CD B-NP +other JJ I-NP +banks NNS I-NP +, , O +along IN B-PP +with IN B-PP +First NNP B-NP +Boston NNP I-NP +, , O +are VBP B-VP +providing VBG I-VP +the DT B-NP +rest NN I-NP +of IN B-PP +the DT B-NP +$ $ I-NP +1.6 CD I-NP +billion CD I-NP +. . O + +Elsewhere RB B-ADVP +on IN B-PP +the DT B-NP +takeover NN I-NP +front NN I-NP +, , O +Time NNP B-NP +Warner NNP I-NP +advanced VBD B-VP +2 CD B-NP +5\/8 CD I-NP +to TO B-PP +136 CD B-NP +5\/8 CD I-NP +and CC O +Warner NNP B-NP +Communications NNP I-NP +tacked VBD B-VP +on IN B-PRT +7\/8 CD B-NP +to TO B-PP +63 CD B-NP +7\/8 CD I-NP +. . O + +The DT B-NP +Delaware NNP I-NP +Supreme NNP I-NP +Court NNP I-NP +affirmed VBD B-VP +a DT B-NP +ruling NN I-NP +that WDT B-NP +barred VBD B-VP +Chris-Craft NNP B-NP +Industries NNPS I-NP +from IN B-PP +voting VBG B-VP +its PRP$ B-NP +Warner NNP I-NP +preferred JJ I-NP +stock NN I-NP +as IN B-PP +a DT B-NP +separate JJ I-NP +class NN I-NP +in IN B-PP +deciding VBG B-VP +on IN B-PP +the DT B-NP +companies NNS I-NP +' POS B-NP +proposed VBN I-NP +merger NN I-NP +. . O + +Paramount NNP B-NP +Communications NNPS I-NP +climbed VBD B-VP +1 CD B-NP +1\/4 CD I-NP +to TO B-PP +58 CD B-NP +1\/2 CD I-NP +and CC O +MCA NNP B-NP +rose VBD B-VP +1 CD B-NP +1\/2 CD I-NP +to TO B-PP +64 CD B-NP +; : O +both DT B-NP +media NNS I-NP +companies NNS I-NP +have VBP B-VP +long RB I-VP +been VBN I-VP +mentioned VBN I-VP +as IN B-PP +potential JJ B-NP +acquisition NN I-NP +candidates NNS I-NP +. . O + +Among IN B-PP +other JJ B-NP +actual JJ I-NP +and CC I-NP +rumored VBN I-NP +targets NNS I-NP +, , O +Woolworth NNP B-NP +rose VBD B-VP +1 CD B-NP +1\/4 CD I-NP +to TO B-PP +60 CD B-NP +1\/2 CD I-NP +, , O +Upjohn NNP B-NP +went VBD B-VP +up IN B-ADVP +1 CD B-NP +1\/8 CD I-NP +to TO B-PP +39 CD B-NP +3\/4 CD I-NP +, , O +Armstrong NNP B-NP +World NNP I-NP +Industries NNPS I-NP +gained VBD B-VP +1 CD B-NP +to TO B-PP +40 CD B-NP +1\/8 CD I-NP +and CC O +Kollmorgen NNP B-NP +rose VBD B-VP +3\/4 CD B-NP +to TO B-PP +13 CD B-NP +7\/8 CD I-NP +. . O + +In IN B-PP +addition NN B-NP +: : O +-- : O +Soo NNP B-NP +Line NNP I-NP +jumped VBD B-VP +2 CD B-NP +3\/4 CD I-NP +to TO B-PP +20 CD B-NP +1\/4 CD I-NP +, , O +above IN B-PP +the DT B-NP +$ $ I-NP +19.50 CD I-NP +a DT B-NP +share NN I-NP +that IN B-NP +Canadian NNP B-NP +Pacific NNP I-NP +offered VBD B-VP +for IN B-PP +the DT B-NP +company NN I-NP +in IN B-PP +a DT B-NP +takeover NN I-NP +proposal NN I-NP +. . O + +-- : O +Xtra NNP B-NP +gained VBD B-VP +1 CD B-NP +1\/8 CD I-NP +to TO B-PP +27 CD B-NP +1\/8 CD I-NP +. . O + +Investor NNP B-NP +Robert NNP I-NP +M. NNP I-NP +Gintel NNP I-NP +, , O +who WP B-NP +owns VBZ B-VP +a DT B-NP +4.7 CD I-NP +% NN I-NP +stake NN I-NP +in IN B-PP +the DT B-NP +company NN I-NP +, , O +said VBD B-VP +he PRP B-NP +plans VBZ B-VP +a DT B-NP +proxy NN I-NP +fight NN I-NP +for IN B-PP +control NN B-NP +of IN B-PP +its PRP$ B-NP +board NN I-NP +. . O + +-- : O +Golden NNP B-NP +Nugget NNP I-NP +rose VBD B-VP +2 CD B-NP +to TO B-PP +28 CD B-NP +1\/4 CD I-NP +. . O + +Its PRP$ B-NP +board NN I-NP +approved VBD B-VP +the DT B-NP +repurchase NN I-NP +of IN B-PP +as RB B-NP +many JJ I-NP +as IN I-NP +three CD I-NP +million CD I-NP +common JJ I-NP +shares NNS I-NP +, , O +or CC O +about IN B-NP +17 CD I-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +shares NNS I-NP +outstanding JJ B-ADJP +. . O + +Buying VBG B-NP +interest NN I-NP +also RB B-ADVP +resurfaced VBD B-VP +in IN B-PP +the DT B-NP +technology NN I-NP +sector NN I-NP +, , O +including VBG B-PP +International NNP B-NP +Business NNP I-NP +Machines NNPS I-NP +, , O +whose WP$ B-NP +board NN I-NP +approved VBD B-VP +a DT B-NP +$ $ I-NP +1 CD I-NP +billion CD I-NP +increase NN I-NP +in IN B-PP +its PRP$ B-NP +stock NN I-NP +buy-back NN I-NP +program NN I-NP +. . O + +IBM NNP B-NP +rose VBD B-VP +2 CD B-NP +3\/8 CD I-NP +to TO B-PP +104 CD B-NP +1\/8 CD I-NP +as IN B-SBAR +2.2 CD B-NP +million CD I-NP +shares NNS I-NP +changed VBD B-VP +hands NNS B-NP +. . O + +Compaq NNP B-NP +Computer NNP I-NP +soared VBD B-VP +4 CD B-NP +5\/8 CD I-NP +to TO B-PP +111 CD B-NP +1\/8 CD I-NP +on IN B-PP +1.8 CD B-NP +million CD I-NP +shares NNS I-NP +in IN B-PP +response NN B-NP +to TO B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +announcement NN I-NP +of IN B-PP +plans NNS B-NP +to TO B-VP +introduce VB I-VP +several JJ B-NP +products NNS I-NP +next JJ B-NP +month NN I-NP +. . O + +Digital NNP B-NP +Equipment NNP I-NP +gained VBD B-VP +1 CD B-NP +3\/8 CD I-NP +to TO B-PP +89 CD B-NP +3\/4 CD I-NP +despite IN B-PP +reporting VBG B-VP +earnings NNS B-NP +for IN B-PP +the DT B-NP +September NNP I-NP +quarter NN I-NP +that WDT B-NP +were VBD B-VP +on IN B-PP +the DT B-NP +low JJ I-NP +end NN I-NP +of IN B-PP +expectations NNS B-NP +. . O + +Among IN B-PP +other JJ B-NP +technology NN I-NP +issues NNS I-NP +, , O +Cray NNP B-NP +Research NNP I-NP +rose VBD B-VP +1 CD B-NP +5\/8 CD I-NP +to TO B-PP +37 CD B-NP +, , O +Hewlett-Packard NNP B-NP +added VBD B-VP +1 CD B-NP +1\/4 CD I-NP +to TO B-PP +50 CD B-NP +1\/4 CD I-NP +, , O +Tandem NNP B-NP +Computers NNPS I-NP +rallied VBD B-VP +1 CD B-NP +1\/8 CD I-NP +to TO B-PP +25 CD B-NP +3\/4 CD I-NP +, , O +Data NNP B-NP +General NNP I-NP +rose VBD B-VP +3\/4 CD B-NP +to TO B-PP +14 CD B-NP +1\/2 CD I-NP +and CC O +Motorola NNP B-NP +gained VBD B-VP +2 CD B-NP +3\/8 CD I-NP +to TO B-PP +59 CD B-NP +1\/4 CD I-NP +. . O + +On IN B-PP +the DT B-NP +other JJ I-NP +hand NN I-NP +, , O +Symbol NNP B-NP +Technologies NNP I-NP +dropped VBD B-VP +1 CD B-NP +1\/4 CD I-NP +to TO B-PP +18 CD B-NP +1\/2 CD I-NP +after IN B-SBAR +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +lowered VBD B-VP +its PRP$ B-NP +short-term JJ I-NP +investment NN I-NP +rating NN I-NP +on IN B-PP +the DT B-NP +stock NN I-NP +and CC O +its PRP$ B-NP +1989 CD I-NP +earnings NNS I-NP +estimate NN I-NP +, , O +and CC O +Commodore NNP B-NP +International NNP I-NP +fell VBD B-VP +7\/8 CD B-NP +to TO B-PP +8 CD B-NP +after IN B-SBAR +the DT B-NP +company NN I-NP +said VBD B-VP +it PRP B-NP +expects VBZ B-VP +to TO I-VP +post VB I-VP +a DT B-NP +loss NN I-NP +for IN B-PP +the DT B-NP +September NNP I-NP +quarter NN I-NP +. . O + +Insurance NN B-NP +stocks NNS I-NP +continued VBD B-VP +to TO I-VP +climb VB I-VP +on IN B-PP +expectations NNS B-NP +that IN B-SBAR +premium NN B-NP +rates NNS I-NP +will MD B-VP +rise VB I-VP +in IN B-PP +the DT B-NP +aftermath NN I-NP +of IN B-PP +the DT B-NP +earthquake NN I-NP +in IN B-PP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +area NN I-NP +. . O + +American NNP B-NP +International NNP I-NP +Group NNP I-NP +climbed VBD B-VP +4 CD B-NP +to TO B-PP +106 CD B-NP +5\/8 CD I-NP +, , O +General NNP B-NP +Re NNP I-NP +rose VBD B-VP +3 CD B-NP +1\/8 CD I-NP +to TO B-PP +89 CD B-NP +5\/8 CD I-NP +, , O +Kemper NNP B-NP +added VBD B-VP +2 CD B-NP +1\/2 CD I-NP +to TO B-PP +48 CD B-NP +, , O +AON NNP B-NP +went VBD B-VP +up IN B-ADVP +1 CD B-NP +3\/8 CD I-NP +to TO B-PP +36 CD B-NP +and CC O +Chubb NNP B-NP +rose VBD B-VP +1 CD B-NP +1\/4 CD I-NP +to TO B-PP +82 CD B-NP +1\/4 CD I-NP +. . O + +Stocks NNS B-NP +of IN B-PP +major JJ B-NP +toy NN I-NP +makers NNS I-NP +rallied VBD B-VP +in IN B-PP +the DT B-NP +wake NN I-NP +of IN B-PP +strong JJ B-NP +third-quarter JJ I-NP +earnings NNS I-NP +reports NNS I-NP +. . O + +Mattel NNP B-NP +added VBD B-VP +1 CD B-NP +1\/4 CD I-NP +to TO B-PP +19 CD B-NP +5\/8 CD I-NP +, , O +Tonka NNP B-NP +firmed VBD B-VP +1 CD B-NP +to TO B-PP +18 CD B-NP +1\/2 CD I-NP +and CC O +Lewis NNP B-NP +Galoob NNP I-NP +Toys NNPS I-NP +rose VBD B-VP +7\/8 CD B-NP +to TO B-PP +13 CD B-NP +5\/8 CD I-NP +on IN B-PP +the DT B-NP +Big NNP I-NP +Board NNP I-NP +, , O +while IN B-SBAR +Hasbro NNP B-NP +gained VBD B-VP +1 CD B-NP +to TO B-PP +21 CD B-NP +7\/8 CD I-NP +on IN B-PP +the DT B-NP +American NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +. . O + +Capital NNP B-NP +Cities-ABC NNP I-NP +surged VBD B-VP +42 CD B-NP +5\/8 CD I-NP +to TO B-PP +560 CD B-NP +. . O + +Kidder NNP B-NP +Peabody NNP I-NP +raised VBD B-VP +its PRP$ B-NP +investment NN I-NP +rating NN I-NP +on IN B-PP +the DT B-NP +stock NN I-NP +and CC O +its PRP$ B-NP +earnings NNS I-NP +estimates NNS I-NP +for IN B-PP +1989 CD B-NP +and CC I-NP +1990 CD I-NP +, , O +based VBN B-PP +on IN B-PP +optimism NN B-NP +that IN B-SBAR +the DT B-NP +company NN I-NP +'s POS B-NP +ABC NNP I-NP +television NN I-NP +network NN I-NP +will MD B-VP +continue VB I-VP +to TO I-VP +fare VB I-VP +well RB B-ADVP +in IN B-PP +the DT B-NP +ratings NNS I-NP +. . O + +Dun NNP B-NP +& CC I-NP +Bradstreet NNP I-NP +lost VBD B-VP +1 CD B-NP +7\/8 CD I-NP +to TO B-PP +51 CD B-NP +7\/8 CD I-NP +on IN B-PP +1.8 CD B-NP +million CD I-NP +shares NNS I-NP +. . O + +Merrill NNP B-NP +Lynch NNP I-NP +lowered VBD B-VP +its PRP$ B-NP +short-term JJ I-NP +rating NN I-NP +on IN B-PP +the DT B-NP +stock NN I-NP +and CC O +its PRP$ B-NP +estimate NN I-NP +of IN B-PP +1990 CD B-NP +earnings NNS I-NP +, , O +citing VBG B-VP +a DT B-NP +sales NNS I-NP +slowdown NN I-NP +in IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +credit-rating JJ I-NP +business NN I-NP +. . O + +Pinnacle NNP B-NP +West NNP I-NP +Capital NNP I-NP +, , O +which WDT B-NP +suspended VBD B-VP +its PRP$ B-NP +common-stock JJ I-NP +dividend NN I-NP +indefinitely RB B-ADVP +and CC O +reported VBD B-VP +a DT B-NP +91 CD I-NP +% NN I-NP +decline NN I-NP +in IN B-PP +third-quarter JJ B-NP +earnings NNS I-NP +, , O +fell VBD B-VP +5\/8 CD B-NP +to TO B-PP +11 CD B-NP +3\/8 CD I-NP +. . O + +The DT B-NP +Amex NNP I-NP +Market NNP I-NP +Value NNP I-NP +Index NNP I-NP +recorded VBD B-VP +its PRP$ B-NP +sharpest JJS I-NP +gain NN I-NP +of IN B-PP +the DT B-NP +year NN I-NP +by IN B-PP +climbing VBG B-VP +4.74 CD B-NP +to TO B-PP +382.81 CD B-NP +. . O + +Volume NN B-NP +totaled VBD B-VP +14,580,000 CD B-NP +shares NNS I-NP +. . O + +B.A.T NNP B-NP +Industries NNPS I-NP +, , O +the DT B-NP +most RBS I-NP +active JJ I-NP +Amex NNP I-NP +issue NN I-NP +, , O +rose VBD B-VP +3\/8 CD B-NP +to TO B-PP +12 CD B-NP +3\/8 CD I-NP +. . O + +The DT B-NP +company NN I-NP +received VBD B-VP +shareholder NN B-NP +approval NN I-NP +for IN B-PP +its PRP$ B-NP +restructuring NN I-NP +plan NN I-NP +, , O +designed VBN B-VP +to TO I-VP +fend VB I-VP +off IN B-PRT +a DT B-NP +hostile JJ I-NP +takeover NN I-NP +bid NN I-NP +from IN B-PP +a DT B-NP +group NN I-NP +headed VBN B-VP +by IN B-PP +financier NN B-NP +Sir NNP I-NP +James NNP I-NP +Goldsmith NNP I-NP +. . O + +Chambers NNP B-NP +Development NNP I-NP +Class NNP I-NP +A DT I-NP +jumped VBD B-VP +3 CD B-NP +1\/8 CD I-NP +to TO B-PP +37 CD B-NP +1\/8 CD I-NP +and CC O +Class NNP B-NP +B NNP I-NP +rose VBD B-VP +2 CD B-NP +5\/8 CD I-NP +to TO B-PP +37 CD B-NP +1\/4 CD I-NP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +six CD B-NP +officers NNS I-NP +are VBP B-VP +buying VBG I-VP +a DT B-NP +total NN I-NP +of IN B-PP +$ $ B-NP +1.5 CD I-NP +million CD I-NP +of IN B-PP +its PRP$ B-NP +stock NN I-NP +. . O + +TRC NNP B-NP +Cos. NNP I-NP +, , O +the DT B-NP +target NN I-NP +of IN B-PP +an DT B-NP +investigation NN I-NP +by IN B-PP +the DT B-NP +U.S. NNP I-NP +inspector NN I-NP +general JJ I-NP +, , O +dropped VBD B-VP +2 CD B-NP +to TO B-PP +10 CD B-NP +3\/4 CD I-NP +. . O + +The DT B-NP +probe NN I-NP +involves VBZ B-VP +testing NN B-NP +procedures NNS I-NP +used VBN B-VP +on IN B-PP +certain JJ B-NP +government NN I-NP +contracts NNS I-NP +by IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +Metatrace NNP I-NP +unit NN I-NP +. . O + +Avondale NNP B-NP +Industries NNP I-NP +Inc. NNP I-NP +, , O +New NNP B-NP +Orleans NNP I-NP +, , O +received VBD B-VP +a DT B-NP +$ $ I-NP +23 CD I-NP +million CD I-NP +contract NN I-NP +from IN B-PP +the DT B-NP +Navy NNP I-NP +to TO B-VP +enlarge VB I-VP +by IN B-PP +50 CD B-NP +% NN I-NP +the DT B-NP +capacity NN I-NP +of IN B-PP +an DT B-NP +auxiliary JJ I-NP +oiler NN I-NP +. . O + +The DT B-NP +award NN I-NP +results NNS B-VP +from IN B-PP +the DT B-NP +Navy NNP I-NP +'s POS B-NP +exercising VBG I-NP +of IN B-PP +an DT B-NP +option NN I-NP +in IN B-PP +an DT B-NP +earlier JJR I-NP +contract NN I-NP +it PRP B-NP +awarded VBD B-VP +Avondale NNP B-NP +. . O + +Richard NNP B-NP +J. NNP I-NP +Pinola NNP I-NP +was VBD B-VP +elected VBN I-VP +to TO B-PP +the DT B-NP +board NN I-NP +of IN B-PP +this DT B-NP +personnel NNS I-NP +consulting NN I-NP +concern NN I-NP +, , O +increasing VBG B-VP +its PRP$ B-NP +size NN I-NP +to TO B-PP +nine CD B-NP +members NNS I-NP +. . O + +Mr. NNP B-NP +Pinola NNP I-NP +is VBZ B-VP +president NN B-NP +and CC O +chief JJ B-NP +operating VBG I-NP +officer NN I-NP +of IN B-PP +Penn NNP B-NP +Mutual NNP I-NP +Life NNP I-NP +Insurance NNP I-NP +Co NNP I-NP +. . O + +The DT B-NP +Senate NNP I-NP +rejected VBD B-VP +a DT B-NP +constitutional JJ I-NP +amendment NN I-NP +that IN B-NP +President NNP B-NP +Bush NNP I-NP +sought VBD B-VP +to TO B-VP +protect VB I-VP +the DT B-NP +U.S. NNP I-NP +flag NN I-NP +from IN B-PP +desecration NN B-NP +. . O + +The DT B-NP +51-48 JJ I-NP +roll NN I-NP +call NN I-NP +fell VBD B-VP +well JJ B-ADJP +short NN I-ADJP +of IN B-PP +the DT B-NP +two-thirds NNS I-NP +majority NN I-NP +needed VBN B-VP +to TO B-VP +approve VB I-VP +changes NNS B-NP +to TO B-PP +the DT B-NP +Constitution NNP I-NP +. . O + +The DT B-NP +vote NN I-NP +, , O +in IN B-PP +which WDT B-NP +11 CD B-NP +GOP NNP I-NP +lawmakers NNS I-NP +voted VBD B-VP +against IN B-PP +Mr. NNP B-NP +Bush NNP I-NP +'s POS B-NP +position NN I-NP +, , O +was VBD B-VP +a DT B-NP +victory NN I-NP +for IN B-PP +Democratic JJ B-NP +leaders NNS I-NP +, , O +who WP B-NP +opposed VBD B-VP +the DT B-NP +amendment NN I-NP +as IN B-PP +an DT B-NP +intrusion NN I-NP +on IN B-PP +the DT B-NP +Bill NNP I-NP +of IN B-PP +Rights NNP B-NP +. . O + +`` `` O +We PRP B-NP +can MD B-VP +support VB I-VP +the DT B-NP +American JJ I-NP +flag NN I-NP +without IN B-PP +changing VBG B-VP +the DT B-NP +American NNP I-NP +Constitution NNP I-NP +, , O +'' '' O +said VBD B-VP +Senate NNP B-NP +Majority NNP I-NP +Leader NNP I-NP +George NNP I-NP +Mitchell NNP I-NP +of IN B-PP +Maine NNP B-NP +. . O + +In IN B-SBAR +order NN O +to TO B-VP +defuse VB I-VP +pressure NN B-NP +for IN B-PP +an DT B-NP +amendment NN I-NP +, , O +Mr. NNP B-NP +Mitchell NNP I-NP +and CC O +House NNP B-NP +Speaker NNP I-NP +Thomas NNP I-NP +Foley NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Wash NNP B-NP +. . O +-RRB- ) O +had VBD B-VP +arranged VBN I-VP +for IN B-SBAR +lawmakers NNS B-NP +to TO B-VP +pass VB I-VP +a DT B-NP +statute NN I-NP +barring VBG B-VP +flag NN B-NP +desecration NN I-NP +before IN B-PP +voting NN B-VP +on IN B-PP +the DT B-NP +constitutional JJ I-NP +change NN I-NP +. . O + +Mr. NNP B-NP +Bush NNP I-NP +said VBD B-VP +he PRP B-NP +would MD B-VP +allow VB I-VP +the DT B-NP +bill NN I-NP +to TO B-VP +become VB I-VP +law NN B-NP +without IN B-PP +his PRP$ B-NP +signature NN I-NP +, , O +because IN B-SBAR +he PRP B-NP +said VBD B-VP +only RB B-NP +a DT I-NP +constitutional JJ I-NP +amendment NN I-NP +can MD B-VP +protect VB I-VP +the DT B-NP +flag NN I-NP +adequately RB B-ADVP +. . O + +In IN B-PP +June NNP B-NP +, , O +the DT B-NP +Supreme NNP I-NP +Court NNP I-NP +threw VBD B-VP +out RP B-PRT +the IN B-NP +conviction NN I-NP +of IN B-PP +a DT B-NP +Texas NNP I-NP +man NN I-NP +who WP B-NP +set VBD B-VP +a DT B-NP +flag NN I-NP +afire RB B-ADVP +during IN B-PP +a DT B-NP +1984 CD I-NP +demonstration NN I-NP +, , O +saying VBG B-VP +he PRP B-NP +was VBD B-VP +`` `` O +engaging VBG B-VP +in IN B-PP +political JJ B-NP +expression NN I-NP +'' '' O +that WDT B-NP +is VBZ B-VP +protected VBN I-VP +by IN B-PP +the DT B-NP +First NNP I-NP +Amendment NNP I-NP +. . O + +If IN B-SBAR +you PRP B-NP +think VBP B-VP +you PRP B-NP +have VBP B-VP +stress-related JJ B-NP +problems NNS I-NP +on IN B-PP +the DT B-NP +job NN I-NP +, , O +there EX B-NP +'s VBZ B-VP +good JJ B-NP +news NN I-NP +and CC O +bad JJ B-NP +news NN I-NP +. . O + +You PRP B-NP +'re VBP B-VP +probably RB B-ADVP +right NN B-ADJP +, , O +and CC O +you PRP B-NP +are VBP B-VP +n't RB O +alone RB B-ADJP +. . O + +A DT B-NP +new JJ I-NP +Gallup NNP I-NP +Poll NNP I-NP +study NN I-NP +commissioned VBN B-VP +by IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Business NNP I-NP +Group NNP I-NP +on IN B-PP +Health NNP B-NP +, , O +found VBD B-VP +that IN B-SBAR +a DT B-NP +full JJ I-NP +25 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +work NN I-NP +force NN I-NP +at IN B-PP +companies NNS B-NP +may MD B-VP +suffer VB I-VP +from IN B-PP +anxiety NN B-NP +disorders NNS I-NP +or CC O +a DT B-NP +stress-related JJ I-NP +illness NN I-NP +, , O +with IN B-PP +about IN B-NP +13 CD I-NP +% NN I-NP +suffering VBG B-VP +from IN B-PP +depression NN B-NP +. . O + +The DT B-NP +study NN I-NP +surveyed VBD B-VP +a DT B-NP +national JJ I-NP +group NN I-NP +of IN B-PP +medical JJ B-NP +directors NNS I-NP +, , O +personnel NNS B-NP +managers NNS I-NP +and CC O +employee NN B-NP +assistance NN I-NP +program NN I-NP +directors NNS I-NP +about IN B-PP +their PRP$ B-NP +perceptions NNS I-NP +of IN B-PP +these DT B-NP +problems NNS I-NP +in IN B-PP +their PRP$ B-NP +companies NNS I-NP +. . O + +It PRP B-NP +is VBZ B-VP +one CD B-NP +of IN B-PP +a DT B-NP +series NN I-NP +of IN B-PP +studies NNS B-NP +on IN B-PP +health NN B-NP +commissioned VBN B-VP +by IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Business NNP I-NP +Group NNP I-NP +, , O +a DT B-NP +non-profit JJ I-NP +organization NN I-NP +with IN B-PP +about IN B-NP +300 CD I-NP +members NNS I-NP +. . O + +The DT B-NP +stress NN I-NP +study NN I-NP +was VBD B-VP +undertaken VBN I-VP +because IN B-SBAR +problems NNS B-NP +related VBN B-ADJP +to TO B-PP +stress VB B-NP +`` `` O +are VBP B-VP +much RB B-ADJP +more RBR I-ADJP +prevalent JJ I-ADJP +than IN B-SBAR +they PRP B-NP +seem VBP B-VP +, , O +'' '' O +said VBD B-VP +Leon NNP B-NP +J. NNP I-NP +Warshaw NNP I-NP +, , O +executive JJ B-NP +director NN I-NP +of IN B-PP +the DT B-NP +business NN I-NP +group NN I-NP +. . O + +In IN B-PP +presenting VBG B-VP +the DT B-NP +study NN I-NP +late JJ B-NP +last JJ I-NP +week NN I-NP +, , O +Dr. NNP B-NP +Warshaw NNP I-NP +estimated VBD B-VP +the DT B-NP +cost NN I-NP +of IN B-PP +these DT B-NP +types NNS I-NP +of IN B-PP +disorders NNS B-NP +to TO B-PP +business NN B-NP +is VBZ B-VP +substantial JJ B-ADJP +. . O + +Occupational JJ B-NP +disability NN I-NP +related VBN B-ADJP +to TO B-PP +anxiety NN B-NP +, , I-NP +depression NN I-NP +and CC I-NP +stress NN I-NP +costs NNS B-VP +about RB B-NP +$ $ I-NP +8,000 CD I-NP +a DT B-NP +case NN I-NP +in IN B-PP +terms NNS B-NP +of IN B-PP +worker NN B-NP +'s POS B-NP +compensation NN I-NP +. . O + +In IN B-PP +terms NNS B-NP +of IN B-PP +days NNS B-NP +lost VBD B-VP +on IN B-PP +the DT B-NP +job NN I-NP +, , O +the DT B-NP +study NN I-NP +estimated VBN B-VP +that IN B-SBAR +each DT B-NP +affected VBN I-NP +employee NN I-NP +loses VBZ B-VP +about IN B-NP +16 CD I-NP +work NN I-NP +days NNS I-NP +a DT B-NP +year NN I-NP +because IN B-PP +of IN I-PP +stress NN B-NP +, , I-NP +anxiety NN I-NP +or CC I-NP +depression NN I-NP +. . O + +He PRP B-NP +added VBD B-VP +that IN B-SBAR +the DT B-NP +cost NN I-NP +for IN B-PP +stress-related JJ B-NP +compensation NN I-NP +claims NNS I-NP +is VBZ B-VP +about IN B-NP +twice RB I-NP +the DT I-NP +average NN I-NP +for IN B-PP +all DT B-NP +injury NN I-NP +claims NNS I-NP +. . O + +`` `` O +We PRP B-NP +hope VBP B-VP +to TO I-VP +sensitize VB I-VP +employers NNS B-NP +'' '' O +to TO B-VP +recognize VB I-VP +the DT B-NP +problems NNS I-NP +so IN B-SBAR +they PRP B-NP +can MD B-VP +do VB I-VP +something NN B-NP +about IN B-PP +them PRP B-NP +, , O +Dr. NNP B-NP +Warshaw NNP I-NP +said VBD B-VP +. . O + +Early JJ B-NP +intervention NN I-NP +into IN B-PP +these DT B-NP +types NNS I-NP +of IN B-PP +problems NNS B-NP +can MD B-VP +apparently RB I-VP +save VB I-VP +businesses NNS B-NP +long-term JJ B-NP +expense NN I-NP +associated VBN B-VP +with IN B-PP +hospitalization NN B-NP +, , O +which WDT B-NP +sometimes RB B-ADVP +results VBZ B-VP +when WRB B-ADVP +these DT B-NP +problems NNS I-NP +go VBP B-VP +untreated JJ B-ADJP +for IN B-PP +too RB B-NP +long JJ I-NP +. . O + +Even RB B-NP +the DT I-NP +courts NNS I-NP +are VBP B-VP +beginning VBG I-VP +to TO I-VP +recognize VB I-VP +the DT B-NP +link NN I-NP +between IN B-PP +jobs NNS B-NP +and CC O +stress-related JJ B-NP +disorders NNS I-NP +in IN B-PP +compensation NN B-NP +cases NNS I-NP +, , O +according VBG B-PP +to TO B-PP +a DT B-NP +survey NN I-NP +by IN B-PP +the DT B-NP +National NNP I-NP +Council NNP I-NP +on IN B-PP +Compensation NNP B-NP +Insurance NNP I-NP +. . O + +But CC O +although IN B-SBAR +56 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +respondents NNS I-NP +in IN B-PP +the DT B-NP +study NN I-NP +indicated VBD B-VP +that IN B-SBAR +mental-health JJ B-NP +problems NNS I-NP +were VBD B-VP +fairly RB B-ADJP +pervasive JJ I-ADJP +in IN B-PP +the DT B-NP +workplace NN I-NP +, , O +there EX B-NP +is VBZ B-VP +still RB B-ADVP +a DT B-NP +social JJ I-NP +stigma NN I-NP +associated VBN B-VP +with IN B-PP +people NNS B-NP +seeking VBG B-VP +help VB B-NP +. . O + +The DT B-NP +disorders NNS I-NP +, , O +which WDT B-NP +20 CD B-NP +years NNS I-NP +ago RB B-ADVP +struck VBD B-VP +middle-age JJ B-NP +and CC I-NP +older JJR I-NP +people NNS I-NP +, , O +`` `` O +now JJ B-ADVP +strike NN B-VP +people NNS B-NP +at IN B-PP +the DT B-NP +height NN I-NP +of IN B-PP +productivity NN B-NP +, , O +'' '' O +says VBZ B-VP +Robert NNP B-NP +M.A. NNP I-NP +Hirschfeld NNP I-NP +, , O +of IN B-PP +the DT B-NP +National NNP I-NP +Institute NNP I-NP +of IN B-PP +Mental NNP B-NP +Health NNP I-NP +, , O +who WP B-NP +spoke VBD B-VP +at IN B-PP +the DT B-NP +presentation NN I-NP +of IN B-PP +the DT B-NP +study NN I-NP +'s POS B-NP +findings NNS I-NP +. . O + +The DT B-NP +poll NN I-NP +showed VBD B-VP +that DT B-SBAR +company NN B-NP +size NN I-NP +had VBD B-VP +a DT B-NP +bearing NN I-NP +on IN B-PP +a DT B-NP +manager NN I-NP +'s POS B-NP +view NN I-NP +of IN B-PP +the DT B-NP +problem NN I-NP +, , O +with IN B-PP +65 CD B-NP +% NN I-NP +of IN B-PP +those DT B-NP +in NN B-PP +companies NNS B-NP +of IN B-PP +more JJR B-NP +than IN I-NP +15,000 CD I-NP +employees NNS I-NP +saying VBG B-VP +stress-related JJ B-NP +problems NNS I-NP +were VBD B-VP +`` `` O +fairly RB B-ADJP +pervasive JJ I-ADJP +'' '' O +and CC O +55 NN B-NP +% NN I-NP +of IN B-PP +those DT B-NP +in NN B-PP +companies NNS B-NP +with IN B-PP +fewer JJR B-NP +than IN I-NP +4,000 CD I-NP +employees NNS I-NP +agreeing VBG B-VP +. . O + +The DT B-NP +poll NN I-NP +also RB B-ADVP +noted VBD B-VP +fear NN B-NP +of IN B-PP +a DT B-NP +takeover NN I-NP +as IN B-PP +a DT B-NP +stress-producing JJ I-NP +event NN I-NP +in IN B-PP +larger JJR B-NP +companies NNS I-NP +. . O + +More RBR B-NP +than IN I-NP +eight CD I-NP +in IN I-NP +10 CD I-NP +respondents NNS I-NP +reported VBD B-VP +such JJ B-NP +a DT I-NP +stress-provoking JJ I-NP +situation NN I-NP +in IN B-PP +their PRP$ B-NP +company NN I-NP +. . O + +Mid-sized JJ B-NP +companies NNS I-NP +were VBD B-VP +most RBS I-VP +affected VBN I-VP +by IN B-PP +talk NN B-NP +of IN B-PP +layoffs NNS B-NP +or CC O +plant NN B-NP +closings NNS I-NP +. . O + +The DT B-NP +study NN I-NP +, , O +which WDT B-NP +received VBD B-VP +funding NN B-NP +from IN B-PP +Upjohn NNP B-NP +Co. NNP I-NP +, , O +which WDT B-NP +makes VBZ B-VP +several JJ B-NP +drugs NNS I-NP +to TO B-VP +treat VB I-VP +stress-related JJ B-NP +illnesses NNS I-NP +, , O +also RB B-ADVP +found VBD B-VP +47 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +managers NNS I-NP +said VBD B-VP +stress NN B-NP +, , I-NP +anxiety NN I-NP +and CC I-NP +depression NN I-NP +contribute VB B-VP +to TO B-PP +decreased VBD B-NP +production NN I-NP +. . O + +Alcohol NN B-NP +and CC I-NP +substance NN I-NP +abuse NN I-NP +as IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +stress-related JJ B-NP +problems NNS I-NP +was VBD B-VP +cited VBN I-VP +by IN B-PP +30 CD B-NP +% NN I-NP +of IN B-PP +those DT B-NP +polled VBN B-VP +. . O + +Although IN B-SBAR +Dr. NNP B-NP +Warshaw NNP I-NP +points NNS B-VP +out IN B-PRT +that IN O +stress NN B-NP +and CC I-NP +anxiety NN I-NP +have VBP B-VP +their PRP$ B-NP +positive JJ I-NP +uses NNS I-NP +, , O +`` `` O +stress NN B-NP +perceived VBN B-VP +to TO I-VP +be VB I-VP +threatening VBG B-ADJP +implies VBZ B-VP +a DT B-NP +component NN I-NP +of IN B-PP +fear NN B-NP +and CC I-NP +anxiety NN I-NP +that WDT B-NP +may MD B-VP +contribute VB I-VP +to TO B-PP +burnout NN B-NP +. . O +'' '' O + +He PRP B-NP +also RB B-ADVP +noted VBD B-VP +that IN O +various JJ B-NP +work NN I-NP +environments NNS I-NP +, , O +such JJ B-PP +as IN I-PP +night NN B-NP +work NN I-NP +, , O +have VBP B-VP +their PRP$ B-NP +own JJ I-NP +`` `` I-NP +stressors NNS I-NP +. . O +'' '' O + +`` `` O +We PRP B-NP +all DT O +like JJ B-VP +stress NN B-NP +, , O +but CC O +there EX B-NP +'s VBZ B-VP +a DT B-NP +limit NN I-NP +, , O +'' '' O +says VBZ B-VP +Paul NNP B-NP +D'Arcy NNP I-NP +, , O +of IN B-PP +Rohrer NNP B-NP +, , I-NP +Hibler NNP I-NP +& CC I-NP +Replogle NNP I-NP +, , O +a DT B-NP +corporate JJ I-NP +psychology NN I-NP +and CC I-NP +management NN I-NP +consulting NN I-NP +firm NN I-NP +. . O + +The DT B-NP +problem NN I-NP +, , O +says VBZ B-VP +Mr. NNP B-NP +D'Arcy NNP I-NP +, , O +a DT B-NP +psychologist NN I-NP +, , O +is VBZ B-VP +that IN B-SBAR +`` `` O +it PRP B-NP +'s VBZ B-VP +very RB B-ADJP +hard JJ I-ADJP +to TO B-VP +get VB I-VP +any DT B-NP +hard JJ I-NP +measures NNS I-NP +on IN B-PP +how WRB B-ADVP +stress NN B-NP +affects VBZ B-VP +job NN B-NP +performance NN I-NP +. . O + +For IN B-PP +Cheap JJ B-NP +Air NNP I-NP +Fares NNS I-NP +, , O +Spend VB B-VP +Christmas NNP B-NP +Aloft JJ B-ADVP + +IT PRP B-NP +IS VBZ B-VP +N'T NNP O +TRUE JJ B-ADJP +that IN B-SBAR +a DT B-NP +90-year CD I-NP +old JJ I-NP +clergyman NN I-NP +on IN B-PP +a DT B-NP +mission NN I-NP +of IN B-PP +mercy NN B-NP +to TO B-PP +a DT B-NP +disaster NN I-NP +area NN I-NP +on IN B-PP +Christmas NNP B-NP +Day NNP I-NP +can MD B-VP +fly VB I-VP +free JJ B-ADJP +. . O + +But CC O +his PRP$ B-NP +circumstances NNS I-NP +are VBP B-VP +among IN B-PP +the DT B-NP +few JJ I-NP +that WDT B-NP +can MD B-VP +qualify VB I-VP +for IN B-PP +the DT B-NP +handful NN I-NP +of IN B-PP +really RB B-NP +cheap JJ I-NP +airline NN I-NP +tickets NNS I-NP +remaining VBG B-VP +in IN B-PP +America NNP B-NP +. . O + +In IN B-PP +recent JJ B-NP +years NNS I-NP +, , O +carriers NNS B-NP +have VBP B-VP +become VBN I-VP +much RB B-ADJP +more RBR I-ADJP +picky JJ I-ADJP +about IN B-PP +who WP B-NP +can MD B-VP +fly VB I-VP +on IN B-PP +the DT B-NP +cheap NN I-NP +. . O + +But CC O +there EX B-NP +still RB B-ADVP +are VBP B-VP +a DT B-NP +few JJ I-NP +ways NNS I-NP +today NN B-NP +'s POS B-NP +traveler NN I-NP +can MD B-VP +qualify VB I-VP +under IN B-PP +the DT B-NP +airline NN I-NP +'s POS B-NP +many JJ I-NP +restrictions NNS I-NP +. . O + +One CD B-NP +of IN B-PP +the DT B-NP +best JJS I-NP +deals NNS I-NP +, , O +though RB B-ADVP +, , O +may MD B-VP +mean VB I-VP +skipping VBG I-VP +Christmas NNP B-NP +dinner NN I-NP +with IN B-PP +the DT B-NP +relatives NNS I-NP +. . O + +This DT B-NP +week NN I-NP +, , O +many JJ B-NP +carriers NNS I-NP +are VBP B-VP +announcing VBG I-VP +cut-rate JJ B-NP +fares NNS I-NP +designed VBN B-VP +to TO B-VP +get VB I-VP +people NNS B-NP +to TO B-VP +fly VB I-VP +on IN B-PP +some DT B-NP +of IN B-PP +the DT B-NP +most RBS I-NP +hallowed JJ I-NP +-- : I-NP +and CC I-NP +slowest JJS I-NP +-- : I-NP +days NNS I-NP +of IN B-PP +the DT B-NP +year NN I-NP +, , O +including VBG B-PP +Christmas NNP B-NP +. . O + +In IN B-PP +recent JJ B-NP +years NNS I-NP +, , O +the DT B-NP +airlines NNS I-NP +had VBD B-VP +waited VBN I-VP +until IN B-PP +the DT B-NP +last JJ I-NP +moment NN I-NP +to TO B-VP +court VB I-VP +Christmas NNP B-NP +season NN I-NP +vacationers NNS I-NP +with IN B-PP +bargain NN B-NP +fares NNS I-NP +. . O + +That DT B-NP +approach NN I-NP +flopped VBD B-VP +: : O +Last NNP B-NP +Christmas NNP I-NP +Day NNP I-NP +, , O +a DT B-NP +USAir NNP I-NP +Group NNP I-NP +Inc. NNP I-NP +DC-9 JJ I-NP +jetliner NN I-NP +flew VBD B-VP +about IN B-NP +seven CD I-NP +passengers NNS I-NP +from IN B-PP +Chicago NNP B-NP +to TO B-PP +Pittsburgh NNP B-NP +. . O + +So RB O +this DT B-NP +year NN I-NP +, , O +the DT B-NP +airlines NNS I-NP +are VBP B-VP +getting VBG I-VP +a DT B-NP +jump NN I-NP +on IN B-PP +holiday NN B-NP +discounts NNS I-NP +. . O + +They PRP B-NP +are VBP B-VP +cutting VBG I-VP +ticket NN B-NP +prices NNS I-NP +by IN B-PP +as RB B-NP +much JJ I-NP +as IN I-NP +70 CD I-NP +% NN I-NP +from IN B-PP +normal JJ B-NP +levels NNS I-NP +for IN B-PP +travel NN B-NP +to TO B-PP +most RBS B-NP +U.S. NNP I-NP +locations NNS I-NP +on IN B-PP +Dec. NNP B-NP +24 CD I-NP +, , I-NP +25 CD I-NP +, , I-NP +29 CD I-NP +, , I-NP +30 CD I-NP +and CC I-NP +31 CD I-NP +, , O +and CC O +Jan. NNP B-NP +4 CD I-NP +, , I-NP +5 NN I-NP +and CC I-NP +6 CD I-NP +. . O + +The DT B-NP +promotions NNS I-NP +-- : O +dubbed VBN B-VP +everything NN B-NP +from IN B-PP +'T- PRP B-NP +is VBZ B-VP +the DT B-NP +Season NN I-NP +to TO B-VP +be VB I-VP +Jolly JJ B-ADJP +to TO B-PP +Kringle NNP B-NP +fares NNS I-NP +-- : O +put VB B-VP +round-trip JJ B-NP +fares NNS I-NP +at IN B-PP +$ $ B-NP +98 CD I-NP +, , O +$ $ B-NP +148 CD I-NP +and CC O +$ $ B-NP +198 CD I-NP +. . O + +`` `` O +They PRP B-NP +'re VBP B-VP +trying VBG I-VP +to TO I-VP +keep VB I-VP +planes NNS B-NP +flying VBG B-VP +on IN B-PP +days NNS B-NP +they PRP B-NP +'d MD B-VP +normally RB I-VP +park VB I-VP +them PRP B-NP +, , O +'' '' O +says VBZ B-VP +Roger NNP B-NP +Bard NNP I-NP +, , O +president NN B-NP +of IN B-PP +Mr. NNP B-NP +Mitchell NNP I-NP +Travel NNP I-NP +Service NNP I-NP +in IN B-PP +Burnsville NNP B-NP +, , O +N.C NNP B-NP +. . O + +Expect VB B-VP +, , O +of IN B-PP +course NN B-NP +, , O +sky-high JJ B-NP +prices NNS I-NP +on IN B-PP +other JJ B-NP +dates NNS I-NP +near IN B-PP +the DT B-NP +holidays NNS I-NP +when WRB B-ADVP +the DT B-NP +airlines NNS I-NP +know VBP B-VP +vacationers NNS B-NP +are VBP B-VP +eager JJ B-ADJP +to TO B-VP +travel VB I-VP +. . O + +Consider VB B-VP +Adopting VBG I-VP +Your PRP$ B-NP +Spouse NN I-NP +'s POS B-NP +Name NN I-NP + +IF IN B-SBAR +CONTINENTAL NNP B-NP +Airlines NNPS I-NP +has VBZ B-VP +its PRP$ B-NP +way NN I-NP +, , O +couples NNS B-NP +like IN B-PP +Marlo NNP B-NP +Thomas NNP I-NP +and CC O +Phil NNP B-NP +Donahue NNP I-NP +may MD B-VP +find VB I-VP +it PRP B-NP +a DT B-NP +hassle NN I-NP +to TO B-VP +qualify VB I-VP +for IN B-PP +some DT B-NP +new JJ I-NP +discounts NNS I-NP +. . O + +Continental NNP B-NP +, , O +a DT B-NP +Texas NNP I-NP +Air NNP I-NP +Corp. NNP I-NP +unit NN I-NP +, , O +recently RB B-ADVP +unveiled VBD B-VP +a DT B-NP +marketing NN I-NP +program NN I-NP +offering NN B-VP +free JJ B-NP +companion NN I-NP +tickets NNS I-NP +to TO B-PP +business-class JJ B-NP +and CC I-NP +first-class JJ I-NP +passengers NNS I-NP +on IN B-PP +international JJ B-NP +flights NNS I-NP +. . O + +The DT B-NP +Continental NNP I-NP +catch NN I-NP +: : O +Only RB B-NP +immediate JJ I-NP +family NN I-NP +members NNS I-NP +are VBP B-VP +allowed VBN I-VP +, , O +and CC O +they PRP B-NP +must MD B-VP +have VB I-VP +the DT B-NP +same JJ I-NP +last JJ I-NP +name NN I-NP +as IN B-PP +the DT B-NP +buyer NN I-NP +of IN B-PP +the DT B-NP +ticket NN I-NP +or CC O +legal JJ B-NP +proof NN I-NP +they PRP B-NP +'re VBP B-VP +related VBN B-ADJP +. . O + +That DT B-NP +irritates VBZ B-VP +many JJ B-NP +women NNS I-NP +who WP B-NP +have VBP B-VP +n't RB I-VP +taken VBN I-VP +their PRP$ B-NP +husbands NNS I-NP +' POS B-NP +last JJ I-NP +name NN I-NP +. . O + +`` `` O +What WP B-NP +a DT B-NP +bunch NN I-NP +of IN B-PP +nonsense NN B-NP +, , O +'' '' O +says VBZ B-VP +Jessica NNP B-NP +Crosby NNP I-NP +, , O +president NN B-NP +of IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +chapter NN I-NP +of IN B-PP +the DT B-NP +National NNP I-NP +Association NNP I-NP +of IN B-PP +Women NNP B-NP +Business NNP I-NP +Owners NNS I-NP +. . O + +`` `` O +This DT B-NP +sets NNS B-VP +things NNS B-NP +way NN B-ADVP +back RB I-ADVP +. . O +'' '' O + +Continental NNP B-NP +'s POS B-NP +logic NN I-NP +: : O +It PRP B-NP +does VBZ B-VP +n't RB I-VP +want VB I-VP +business NN B-NP +companions NNS I-NP +abusing VBG B-VP +the DT B-NP +promotion NN I-NP +by IN B-PP +falsely RB B-VP +claiming VBG I-VP +to TO I-VP +be VB I-VP +related VBN B-ADJP +. . O + +`` `` O +We PRP B-NP +accommodate VBP B-VP +their PRP$ B-NP +choice NN I-NP +of IN B-PP +names NNS B-NP +by IN B-PP +allowing VBG B-VP +them PRP B-NP +to TO B-VP +demonstrate VB I-VP +'' '' O +family NN B-NP +affiliation NN I-NP +with IN B-PP +legal JJ B-NP +documents NNS I-NP +, , O +says VBZ B-VP +Jim NNP B-NP +O'Donnell NNP I-NP +, , O +a DT B-NP +senior JJ I-NP +vice NN I-NP +president NN I-NP +. . O + +But CC O +gay JJ B-NP +rights NNS I-NP +advocates NNS I-NP +are VBP B-VP +angry JJ B-ADJP +, , O +too RB B-ADVP +. . O + +The DT B-NP +Lambda NNP I-NP +Legal NNP I-NP +Defense NNP I-NP +and CC I-NP +Education NNP I-NP +Fund NNP I-NP +of IN B-PP +New NNP B-NP +York NNP I-NP +City NNP I-NP +has VBZ B-VP +received VBN I-VP +complaints NNS B-NP +from IN B-PP +homosexual JJ B-NP +couples NNS I-NP +whom WP B-NP +the DT B-NP +airline NN I-NP +does VBZ B-VP +n't RB I-VP +recognize VB I-VP +as IN B-PP +family NN B-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +certainly RB B-ADVP +discrimination NN B-NP +, , O +'' '' O +says VBZ B-VP +attorney NN B-NP +Evan NNP I-NP +Wolfson NNP I-NP +, , O +whose WP$ B-NP +group NN I-NP +forced VBN B-VP +Trans NNP B-NP +World NNP I-NP +Airlines NNPS I-NP +this DT B-NP +year NN I-NP +to TO B-VP +change VB I-VP +a DT B-NP +rule NN I-NP +that WDT B-NP +allowed VBD B-VP +travelers NNS B-NP +to TO B-VP +transfer VB I-VP +frequent JJ B-NP +flier NN I-NP +awards NNS I-NP +only RB B-ADVP +to TO B-PP +family NN B-NP +members NNS I-NP +. . O + +Take VB B-VP +Your PRP$ B-NP +Vacation NN I-NP +In IN B-PP +a DT B-NP +Hurricane NNP I-NP +Area NNP I-NP + +WHEN WRB B-ADVP +HURRICANE NNP B-NP +Hugo NNP I-NP +careened VBD B-VP +through IN B-PP +the DT B-NP +Caribbean NNP I-NP +and CC O +the DT B-NP +Atlantic NNP I-NP +coast NN I-NP +states NNS I-NP +, , O +it PRP B-NP +downed VBD B-VP +electric NN B-NP +and CC I-NP +telephone NN I-NP +lines NNS I-NP +, , O +shot NN B-VP +coconuts NNS B-NP +through IN B-PP +cottage NN B-NP +rooftops NNS I-NP +, , O +shattered VBN B-VP +windows NNS B-NP +and CC O +uprooted VBN B-VP +thousands NNS B-NP +of IN B-PP +lives NNS B-NP +. . O + +It PRP B-NP +also RB B-ADVP +lowered VBD B-VP +some DT B-NP +air NN I-NP +fares NNS I-NP +. . O + +Since IN B-PP +the DT B-NP +hurricane NN I-NP +, , O +Midway NNP B-NP +Airlines NNP I-NP +Inc. NNP I-NP +and CC O +American NNP B-NP +Airlines NNP I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +AMR NNP B-NP +Corp. NNP I-NP +, , O +trimmed VBD B-VP +their PRP$ B-NP +one-way JJ I-NP +fares NNS I-NP +to TO B-PP +the DT B-NP +Virgin NNP I-NP +Islands NNPS I-NP +to TO B-PP +$ $ B-NP +109 CD I-NP +from IN B-PP +prices NNS B-NP +that WDT B-NP +were VBD B-VP +at IN B-PP +times NNS B-NP +double JJ B-NP +that IN I-NP +before IN B-PP +the DT B-NP +storm NN I-NP +. . O + +The DT B-NP +fares NNS I-NP +are VBP B-VP +code-named VBN I-VP +Hugo NNP B-NP +, , O +Compassion NNP B-NP +and CC O +Virgin NNP B-NP +Islands NNP I-NP +Aid NNP I-NP +. . O + +-LRB- ( O +Airlines NNPS B-NP +are VBP B-VP +n't RB I-VP +lowering VBG I-VP +fares NNS B-NP +to TO B-PP +Northern NNP B-NP +California NNP I-NP +following VBG B-PP +this DT B-NP +week NN I-NP +'s POS B-NP +earthquake NN I-NP +, , O +but CC O +reservation NN B-NP +agents NNS I-NP +can MD B-VP +waive VB I-VP +advance-purchase JJ B-NP +restrictions NNS I-NP +on IN B-PP +discount NN B-NP +fares NNS I-NP +for IN B-PP +emergency NN B-NP +trips NNS I-NP +. . O +-RRB- ) O + +Some DT B-NP +hotels NNS I-NP +in IN B-PP +the DT B-NP +hurricane-stricken JJ I-NP +Caribbean NNP I-NP +promise NN B-VP +money-back JJ B-NP +guarantees NNS I-NP +. . O + +In IN B-PP +Myrtle NNP B-NP +Beach NNP I-NP +, , O +S.C. NNP B-NP +, , O +the DT B-NP +damaged VBN I-NP +Yachtsman NNP I-NP +Resort NNP I-NP +offers VBZ B-VP +daily JJ B-NP +rates NNS I-NP +as RB B-ADJP +low JJ I-ADJP +as IN B-PP +$ $ B-NP +35 CD I-NP +, , O +or CC O +as RB B-NP +much JJ I-NP +as IN I-NP +22 CD I-NP +% NN I-NP +below IN B-PP +regular JJ B-NP +prices NNS I-NP +. . O + +Says VBZ B-VP +Michele NNP B-NP +Hoffman NNP I-NP +, , O +a DT B-NP +clerk NN I-NP +in IN B-PP +the DT B-NP +resort NN I-NP +'s POS B-NP +front NN I-NP +office NN I-NP +: : O +`` `` O +We PRP B-NP +do VBP B-VP +n't RB I-VP +have VB I-VP +the DT B-NP +outdoor JJ I-NP +pool NN I-NP +, , O +the DT B-NP +pool NN I-NP +table NN I-NP +, , I-NP +ping NN I-NP +pong NN I-NP +table NN I-NP +, , I-NP +snack NN I-NP +bar NN I-NP +or CC I-NP +VCR NNP I-NP +, , O +but CC O +we PRP B-NP +still RB B-ADVP +have VBP B-VP +the DT B-NP +indoor JJ I-NP +pool NN I-NP +and CC I-NP +Jacuzzi NNP I-NP +. . O +'' '' O + +Just RB B-ADVP +Wait VB B-VP +Until IN B-SBAR +You PRP B-NP +'re VBP B-VP +a DT B-NP +Bit NN I-NP +Older JJR B-ADJP + +SENIOR JJ B-NP +CITIZENS NNS I-NP +have VBP B-VP +long RB I-VP +received VBN I-VP +cheap JJ B-NP +air NN I-NP +fares NNS I-NP +. . O + +This DT B-NP +year NN I-NP +, , O +the DT O +older JJR O +someone NN B-NP +is VBZ B-VP +the DT O +bigger JJR O +the DT B-NP +discount NN I-NP +. . O + +A DT B-NP +senior JJ I-NP +citizen NN I-NP +between IN B-PP +62 CD B-NP +and CC I-NP +70 CD I-NP +saves VBZ B-VP +70 CD B-NP +% NN I-NP +off IN B-PP +regular JJ B-NP +coach NN I-NP +fare NN I-NP +. . O + +Travelers NNS B-NP +up IN B-PP +to TO B-PP +age NN B-NP +99 CD I-NP +get VB B-VP +a DT B-NP +percentage NN I-NP +discount NN I-NP +matching VBG B-VP +their PRP$ B-NP +age NN I-NP +. . O + +And CC O +centenarians NNS B-NP +fly VBP B-VP +free JJ B-ADVP +in IN B-PP +first JJ B-NP +class NN I-NP +. . O + +Next JJ B-NP +month NN I-NP +, , O +Northwest NNP B-NP +Airlines NNPS I-NP +says VBZ B-VP +, , O +a DT B-NP +108-year-old NNP I-NP +Lansing NNP I-NP +, , I-NP +Mich. NNP I-NP +, , I-NP +woman NN I-NP +is VBZ B-VP +taking VBG I-VP +it PRP B-NP +up IN B-PRT +on IN B-PP +the DT B-NP +offer NN I-NP +to TO B-VP +fly VB I-VP +with IN B-PP +her PRP$ B-NP +72-year-old JJ I-NP +son NN I-NP +to TO B-PP +Tampa NNP B-NP +, , O +Fla NNP B-NP +. . O + +Last JJ B-NP +year NN I-NP +when WRB B-ADVP +Northwest NNP B-NP +first RB B-ADVP +offered VBN B-VP +the DT B-NP +promotion NN I-NP +, , O +only RB B-NP +six CD I-NP +centenarians NNS I-NP +flew VBD B-VP +free JJ B-ADVP +. . O + +If IN B-SBAR +All DT B-NP +Else RB I-NP +Fails VBZ B-VP +... : O +. . O + +THE DT B-NP +NATION'S NN I-NP +carriers NNS I-NP +also RB B-ADVP +provide VBP B-VP +discounts NNS B-NP +to TO B-PP +Red NNP B-NP +Cross NNP I-NP +workers NNS I-NP +, , O +retired VBN B-NP +military JJ I-NP +personnel NNS I-NP +and CC O +medical JJ B-NP +students NNS I-NP +. . O + +There EX B-NP +'s VBZ B-VP +even RB B-ADVP +a DT B-NP +special JJ I-NP +fare NN I-NP +for IN B-PP +clergy NN B-NP +that WDT B-NP +does VBZ B-VP +n't RB I-VP +require VB I-VP +the DT B-NP +usual JJ I-NP +stay NN I-NP +over IN B-PP +Saturday NNP B-NP +night NN I-NP +. . O + +That DT B-NP +way NN I-NP +, , O +they PRP B-NP +can MD B-VP +be VB I-VP +home NN B-NP +in IN B-PP +time NN B-NP +for IN B-PP +work NN B-NP +Sunday NNP B-NP +. . O + +The DT B-NP +British NNP I-NP +Petroleum NNP I-NP +Co. NNP I-NP +PLC NNP I-NP +said VBD B-VP +its PRP$ B-NP +BP NNP I-NP +Exploration NNP I-NP +unit NN I-NP +has VBZ B-VP +produced VBN I-VP +the DT B-NP +first JJ I-NP +oil NN I-NP +from IN B-PP +its PRP$ B-NP +Don NNP I-NP +oilfield NN I-NP +in IN B-PP +the DT B-NP +North NNP I-NP +Sea NNP I-NP +. . O + +In IN B-PP +an DT B-NP +official JJ I-NP +release NN I-NP +, , O +BP NNP B-NP +said VBD B-VP +initial JJ B-NP +production NN I-NP +from IN B-PP +the DT B-NP +field NN I-NP +was VBD B-VP +11,000 CD B-NP +barrels NNS I-NP +a DT B-NP +day NN I-NP +, , O +and CC O +that IN B-SBAR +it PRP B-NP +expects VBZ B-VP +peak NN B-NP +output NN I-NP +from IN B-PP +the DT B-NP +field NN I-NP +of IN B-PP +15,000 CD B-NP +barrels NNS I-NP +a DT B-NP +day NN I-NP +to TO B-VP +be VB I-VP +reached VBN I-VP +in IN B-PP +1990 CD B-NP +. . O + +As IN B-PP +the DT B-NP +sponsor NN I-NP +of IN B-PP +the DT O +`` `` O +Older JJR O +Americans NNP O +Freedom NNP O +to TO B-PP +Work VB B-NP +Act NNP B-NP +, , O +'' '' O +which WDT B-NP +would MD B-VP +repeal VB I-VP +the DT B-NP +Social NNP I-NP +Security NNP I-NP +earnings NNS I-NP +limit NN I-NP +for IN B-PP +people NNS B-NP +aged VBN B-VP +65 CD B-NP +and CC O +older JJR B-ADJP +, , O +I PRP B-NP +applaud VBP B-VP +your PRP$ B-NP +strong JJ I-NP +endorsement NN I-NP +to TO B-VP +repeal VB I-VP +this DT B-NP +Depression-era JJ I-NP +fossil NN I-NP +. . O + +For IN B-PP +every DT B-NP +dollar NN I-NP +earned VBD B-VP +over IN B-PP +$ $ B-NP +8,880 CD I-NP +, , O +Social NNP B-NP +Security NNP I-NP +recipients NNS I-NP +lose VBP B-VP +50 CD B-NP +cents NNS I-NP +of IN B-PP +their PRP$ B-NP +Social NNP I-NP +Security NNP I-NP +benefits NNS I-NP +; : O +it PRP B-NP +'s VBZ B-VP +like IN B-PP +a DT B-NP +50 CD I-NP +% NN I-NP +marginal JJ I-NP +tax NN I-NP +. . O + +But CC O +the DT B-NP +compounded VBN I-NP +effects NNS I-NP +of IN B-PP +`` `` B-NP +seniors NNS I-NP +only RB I-NP +'' '' I-NP +taxes NNS I-NP +result VBP B-VP +in IN B-PP +truly RB B-NP +catastrophic JJ I-NP +marginal JJ I-NP +tax NN I-NP +rates NNS I-NP +. . O + +Imagine VB B-VP +a DT B-NP +widow NN I-NP +who WP B-NP +wants VBZ B-VP +to TO I-VP +maintain VB I-VP +her PRP$ B-NP +standard NN I-NP +of IN B-PP +living VBG B-NP +at IN B-PP +the DT B-NP +same JJ I-NP +level NN I-NP +she PRP B-NP +had VBD B-VP +before IN B-SBAR +she PRP B-NP +had VBD B-VP +to TO I-VP +pay VB I-VP +the DT B-NP +catastrophic JJ I-NP +surtax NN I-NP +. . O + +Although IN B-SBAR +this DT B-NP +widow NN I-NP +earns VBZ B-VP +only RB B-NP +twice RB I-NP +the DT I-NP +minimum JJ I-NP +wage NN I-NP +, , O +largely RB B-ADVP +due JJ B-PP +to TO B-PP +the DT B-NP +earnings NNS I-NP +limit NN I-NP +, , O +she PRP B-NP +would MD B-VP +have VB I-VP +to TO I-VP +earn VB I-VP +an DT B-NP +additional JJ I-NP +$ $ I-NP +4,930 CD I-NP +to TO B-VP +offset VB I-VP +her PRP$ B-NP +catastrophic JJ I-NP +surtax NN I-NP +of IN B-PP +$ $ B-NP +496 CD I-NP +. . O + +Eliminating VBG B-VP +the DT B-NP +earnings NNS I-NP +limit NN I-NP +would MD B-VP +greatly RB I-VP +help VB I-VP +seniors NNS B-NP +and CC O +reduce VB B-VP +the DT B-NP +deficit NN I-NP +. . O + +Repeal NN B-NP +would MD B-VP +generate VB I-VP +more JJR B-NP +in IN B-PP +new JJ B-NP +taxes NNS I-NP +than IN B-SBAR +the DT B-NP +government NN I-NP +would MD B-VP +lose VB I-VP +in IN B-PP +increased VBN B-NP +Social NNP I-NP +Security NNP I-NP +benefit NN I-NP +payments NNS I-NP +. . O + +We PRP B-NP +now JJ B-ADVP +need NN B-VP +support NN B-NP +from IN B-PP +the DT B-NP +Democrats NNPS I-NP +on IN B-PP +the DT B-NP +Rules NNP I-NP +Committee NNP I-NP +in IN B-SBAR +order NN O +to TO B-VP +include VB I-VP +earnings-limit JJ B-NP +reform NN I-NP +in IN B-PP +the DT B-NP +Reconciliation NNP I-NP +Bill NNP I-NP +. . O + +Since IN B-SBAR +all DT B-NP +four CD I-NP +Republicans NNPS I-NP +on IN B-PP +the DT B-NP +committee NN I-NP +are VBP B-VP +co-sponsors NNS B-NP +of IN B-PP +my PRP$ B-NP +bill NN I-NP +, , O +it PRP B-NP +is VBZ B-VP +the DT B-NP +Democrats NNPS I-NP +who WP B-NP +will MD B-VP +be VB I-VP +held VBN I-VP +fully RB B-ADJP +accountable JJ I-ADJP +if IN B-SBAR +an DT B-NP +earnings NNS I-NP +test NN I-NP +amendment NN I-NP +is VBZ B-VP +not RB I-VP +allowed VBN I-VP +from IN B-PP +the DT B-NP +floor NN I-NP +. . O + +The DT B-NP +time NN I-NP +is VBZ B-VP +now RB B-ADVP +to TO B-VP +lift VB I-VP +the DT B-NP +burdensome JJ I-NP +Social NNP I-NP +Security NNP I-NP +earnings NNS I-NP +limit NN I-NP +from IN B-PP +the DT B-NP +backs NNS I-NP +of IN B-PP +our PRP$ B-NP +nation NN I-NP +'s POS B-NP +seniors NNS I-NP +. . O + +Rep. NNP B-NP +J. NNP I-NP +Dennis NNP I-NP +Hastert NNP I-NP +-LRB- ( O +R. NNP B-NP +, , O +Ill NNP B-NP +. . O +-RRB- ) O + +When WRB B-ADVP +his PRP$ B-NP +Seventh NNP I-NP +Avenue NNP I-NP +fur NN I-NP +business NN I-NP +here RB B-ADVP +was VBD B-VP +flying VBG I-VP +high JJ B-ADVP +20 CD B-NP +years NNS I-NP +ago RB B-ADVP +, , O +Jack NNP B-NP +Purnick NNP I-NP +had VBD B-VP +25 CD B-NP +workers NNS I-NP +and CC O +a DT B-NP +large JJ I-NP +factory NN I-NP +. . O + +Now RB B-ADVP +his PRP$ B-NP +half-dozen NN I-NP +employees NNS I-NP +work VBP B-VP +in IN B-PP +an DT B-NP +eighth-floor JJ I-NP +shop NN I-NP +that IN B-NP +he PRP B-NP +says VBZ B-VP +is VBZ B-VP +smaller JJR B-ADJP +than IN B-PP +his PRP$ B-NP +old JJ I-NP +storage NN I-NP +room NN I-NP +. . O + +He PRP B-NP +also RB B-ADVP +says VBZ B-VP +he PRP B-NP +is VBZ B-VP +losing VBG I-VP +money NN B-NP +now RB B-ADVP +. . O + +He PRP B-NP +blames VBZ B-VP +imports NNS B-NP +. . O + +But CC O +just RB B-ADVP +down RB I-ADVP +Seventh NNP B-NP +Avenue NNP I-NP +, , O +where WRB B-ADVP +about IN B-NP +75 CD I-NP +% NN I-NP +of IN B-PP +U.S. NNP B-NP +fur NN I-NP +garments NNS I-NP +are VBP B-VP +made VBN I-VP +, , O +Larry NNP B-NP +Rosen NNP I-NP +has VBZ B-VP +acquired VBN I-VP +two CD B-NP +retail JJ I-NP +outlets NNS I-NP +, , O +broadened VBD B-VP +his PRP$ B-NP +fur-making JJ I-NP +line NN I-NP +and CC O +expanded VBN B-VP +into IN B-PP +leather NN B-NP +. . O + +He PRP B-NP +credits VBZ B-VP +imports NNS B-NP +. . O + +The DT B-NP +difference NN I-NP +lies VBZ B-VP +in IN B-PP +how WRB B-ADVP +the DT B-NP +two CD I-NP +entrepreneurial JJ I-NP +furriers NNS I-NP +reacted VBD B-VP +to TO B-PP +the DT B-NP +foreign JJ I-NP +competition NN I-NP +and CC I-NP +transformation NN I-NP +of IN B-PP +their PRP$ B-NP +industry NN I-NP +over IN B-PP +the DT B-NP +past JJ I-NP +10 CD I-NP +years NNS I-NP +. . O + +One CD B-NP +stuck VBN B-VP +to TO B-PP +old-line JJ B-NP +business NN I-NP +traditions NNS I-NP +, , O +while IN B-SBAR +the DT B-NP +other JJ I-NP +embraced VBN B-VP +the DT B-NP +change NN I-NP +. . O + +`` `` O +The DT B-NP +small JJ I-NP +, , I-NP +good JJ I-NP +fur NN I-NP +salon NN I-NP +is VBZ B-VP +not RB O +what WP B-NP +it PRP B-NP +used VBD B-VP +to TO I-VP +be VB I-VP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Purnick NNP I-NP +, , O +75 CD B-NP +years NNS I-NP +old JJ B-ADJP +. . O + +`` `` O +We PRP B-NP +make VBP B-VP +the DT B-NP +finest JJS I-NP +product NN I-NP +in IN B-PP +the DT B-NP +world NN I-NP +, , O +and CC O +the DT B-NP +Americans NNPS I-NP +are VBP B-VP +being VBG I-VP +kicked VBN I-VP +around IN B-PRT +. . O +'' '' O + +Mr. NNP B-NP +Rosen NNP I-NP +, , O +though RB B-ADVP +, , O +believes VBZ B-VP +imports NNS B-NP +have VBP B-VP +reinvigorated VBN I-VP +the DT B-NP +industry NN I-NP +in IN B-PP +which WDT B-NP +he PRP B-NP +has VBZ B-VP +worked VBN I-VP +for IN B-PP +most RBS B-NP +of IN B-PP +his PRP$ B-NP +57 CD I-NP +years NNS I-NP +. . O + +`` `` O +You PRP B-NP +'ve VBP B-VP +got VBD I-VP +some DT B-NP +minds NNS I-NP +here RB B-ADVP +that WDT B-NP +wo MD B-VP +n't RB I-VP +think VB I-VP +progressively RB B-ADVP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +Import NN B-NP +competition NN I-NP +for IN B-PP +U.S. NNP B-NP +furs NNS I-NP +has VBZ B-VP +risen VBN I-VP +sharply RB B-ADVP +since IN B-SBAR +furriers NNS B-NP +started VBD B-VP +aggressively RB I-VP +marketing VBG I-VP +`` `` O +working-girl NN B-NP +mink NN I-NP +'' '' O +and CC O +similar JJ B-NP +lower-priced JJ I-NP +imported VBN I-NP +furs NNS I-NP +in IN B-PP +recent JJ B-NP +years NNS I-NP +. . O + +Merchants NNP B-NP +discovered VBD B-VP +a DT B-NP +consumer NN I-NP +largely RB B-VP +ignored VBD I-VP +by IN B-PP +higher-priced JJ B-NP +furriers NNS I-NP +: : O +the DT B-NP +younger JJR I-NP +woman NN I-NP +-- : O +even RB B-ADVP +in IN B-PP +her PRP$ B-NP +late JJ I-NP +20s CD I-NP +-- : O +who WP B-NP +never RB B-ADVP +thought VBD B-VP +she PRP B-NP +could MD B-VP +buy VB I-VP +a DT B-NP +mink NN I-NP +. . O + +The DT B-NP +new JJ I-NP +market NN I-NP +helped VBD B-VP +boost VB I-VP +U.S. NNP B-NP +fur NN I-NP +sales NNS I-NP +to TO B-PP +about RB B-NP +$ $ I-NP +1.8 CD I-NP +billion CD I-NP +a DT B-NP +year NN I-NP +now RB B-ADVP +, , O +triple VB B-NP +the DT I-NP +level NN I-NP +in IN B-PP +the DT B-NP +late JJ I-NP +1970s NNS I-NP +. . O + +It PRP B-NP +also RB B-ADVP +opened VBD B-VP +the DT B-NP +door NN I-NP +to TO B-PP +furs NNS B-NP +made VBN B-VP +in IN B-PP +South NNP B-NP +Korea NNP I-NP +, , O +China NNP B-NP +, , O +Hong NNP B-NP +Kong NNP I-NP +and CC O +other JJ B-NP +countries NNS I-NP +. . O + +Jindo NNP B-NP +Furs NNP I-NP +, , O +a DT B-NP +large JJ I-NP +South JJ I-NP +Korean JJ I-NP +maker NN I-NP +, , O +says VBZ B-VP +it PRP B-NP +operates VBZ B-VP +35 CD B-NP +retail JJ I-NP +outlets NNS I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +and CC O +plans NNS B-VP +to TO I-VP +open VB I-VP +15 CD B-NP +more JJR I-NP +by IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +next JJ B-NP +year NN I-NP +. . O + +Mr. NNP B-NP +Purnick NNP I-NP +and CC O +other JJ B-NP +old-line JJ I-NP +furriers NNS I-NP +call VBP B-VP +many NN B-NP +of IN B-PP +the DT B-NP +the DT I-NP +imports NNS I-NP +unstylish JJ B-ADJP +and CC O +poorly RB B-ADJP +made VBN I-ADJP +. . O + +High-end JJ B-NP +U.S. NNP I-NP +furriers NNS I-NP +say VBP B-VP +these DT B-NP +imports NNS I-NP +have VBP B-VP +n't RB I-VP +squeezed VBN I-VP +them PRP B-NP +. . O + +But CC O +low-priced JJ B-NP +and CC I-NP +middle-priced JJ I-NP +furriers NNS I-NP +like IN B-PP +Mr. NNP B-NP +Purnick NNP I-NP +, , O +who WP B-NP +once RB B-ADVP +saturated VBN B-VP +the DT B-NP +five-block JJ I-NP +Seventh NNP I-NP +Avenue NNP I-NP +fur NN I-NP +district NN I-NP +, , O +say VBP B-VP +imports NNS B-NP +have VBP B-VP +cut VBN I-VP +their PRP$ B-NP +sales NNS I-NP +. . O + +A DT B-NP +woman NN I-NP +who WP B-NP +once RB B-ADVP +would MD B-VP +have VB I-VP +saved VBN I-VP +for IN B-PP +two CD B-NP +or CC I-NP +three CD I-NP +seasons NNS I-NP +to TO B-VP +buy VB I-VP +a DT B-NP +U.S.-made JJ I-NP +mink NN I-NP +can MD B-VP +now RB I-VP +get VB I-VP +an DT B-NP +imported VBN I-NP +mink NN I-NP +right RB B-ADVP +away RB I-ADVP +for IN B-PP +less JJR B-NP +than IN I-NP +$ $ I-NP +2,000 CD I-NP +. . O + +Yet RB O +Mr. NNP B-NP +Rosen NNP I-NP +has VBZ B-VP +turned VBN I-VP +the DT B-NP +import NN I-NP +phenomenon NN I-NP +to TO B-PP +his PRP$ B-NP +advantage NN I-NP +. . O + +Early RB B-ADVP +in IN B-PP +the DT B-NP +decade NN I-NP +he PRP B-NP +saw VBD B-VP +that IN B-SBAR +fur NN B-NP +workers NNS I-NP +in IN B-PP +many JJ B-NP +foreign JJ I-NP +countries NNS I-NP +were VBD B-VP +willing JJ B-ADJP +to TO B-VP +work VB I-VP +longer RB B-NP +hours VBZ I-NP +at IN B-PP +lower JJR B-NP +wages NNS I-NP +than IN B-PP +their PRP$ B-NP +American JJ I-NP +counterparts NNS I-NP +and CC O +were VBD B-VP +more RBR B-ADJP +open JJ I-ADJP +to TO B-PP +innovation NN B-NP +. . O + +In IN B-PP +1982 CD B-NP +, , O +he PRP B-NP +started VBD B-VP +a DT B-NP +factory NN I-NP +in IN B-PP +Greece NNP B-NP +. . O + +Two CD B-NP +years NNS I-NP +later RB B-ADVP +, , O +he PRP B-NP +opened VBD B-VP +one CD B-NP +in IN B-PP +West NNP B-NP +Germany NNP I-NP +. . O + +He PRP B-NP +also RB B-ADVP +noticed VBD B-VP +that IN B-SBAR +foreign JJ B-NP +makers NNS I-NP +were VBD B-VP +introducing VBG I-VP +many JJ B-NP +variations NNS I-NP +on IN B-PP +the DT B-NP +traditional JJ I-NP +fur NN I-NP +, , O +and CC O +he PRP B-NP +decided VBD B-VP +to TO I-VP +follow VB I-VP +suit NN B-NP +. . O + +By IN B-PP +combining VBG B-VP +his PRP$ B-NP +strengths NNS I-NP +in IN B-PP +innovation NN B-NP +and CC O +quality NN B-NP +control NN I-NP +with IN B-PP +the DT B-NP +lower JJR I-NP +costs NNS I-NP +of IN B-PP +production NN B-NP +abroad RB I-NP +, , O +he PRP B-NP +says VBZ B-VP +he PRP B-NP +has VBZ B-VP +been VBN I-VP +able JJ B-ADJP +to TO B-VP +produce VB I-VP +high-quality JJ B-NP +goods NNS I-NP +at IN B-PP +low JJ B-NP +cost NN I-NP +. . O + +To TO B-VP +maintain VB I-VP +control NN B-NP +over IN B-PP +production NN B-NP +and CC O +avoid VB B-VP +overdependence NN B-NP +on IN B-PP +foreign JJ B-NP +sources NNS I-NP +, , O +he PRP B-NP +says VBZ B-VP +he PRP B-NP +still RB B-ADVP +makes VBZ B-VP +most RBS B-NP +of IN B-PP +his PRP$ B-NP +furs NNS I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +. . O + +But CC O +six CD B-NP +years NNS I-NP +ago RB B-ADVP +he PRP B-NP +also RB B-ADVP +began VBD B-VP +importing VBG I-VP +from IN B-PP +the DT B-NP +Far NNP I-NP +East NNP I-NP +. . O + +Inspired VBN B-VP +by IN B-PP +imports NNS B-NP +, , O +Mr. NNP B-NP +Rosen NNP I-NP +now RB B-ADVP +makes VBZ B-VP +fur NN B-NP +muffs NNS I-NP +, , I-NP +hats NNS I-NP +and CC I-NP +flings NNS I-NP +. . O + +This DT B-NP +year NN I-NP +he PRP B-NP +produced VBD B-VP +a DT B-NP +men NNS I-NP +'s POS B-NP +line NN I-NP +and CC O +offers VBZ B-VP +dyed VBN B-NP +furs NNS I-NP +in IN B-PP +red JJ B-NP +, , O +cherry JJ B-NP +red NN I-NP +, , O +violet NN B-NP +, , O +royal JJ B-NP +blue NN I-NP +and CC O +forest NN B-NP +green JJ I-NP +. . O + +He PRP B-NP +has VBZ B-VP +leather NN B-NP +jackets NNS I-NP +from IN B-PP +Turkey NNP B-NP +that WDT B-NP +are VBP B-VP +lined VBN I-VP +with IN B-PP +eel NN B-NP +skin NN I-NP +and CC O +topped VBD B-VP +off IN B-PRT +with IN B-PP +raccoon-skin JJ B-NP +collars NNS I-NP +. . O + +From IN B-PP +Asia NNP B-NP +, , O +he PRP B-NP +has VBZ B-VP +mink NN B-NP +jackets NNS I-NP +with IN B-PP +floral JJ B-NP +patterns NNS I-NP +made VBN B-VP +by IN B-PP +using VBG B-VP +different JJ B-NP +colored JJ I-NP +furs NNS I-NP +. . O + +Next JJ B-ADVP +he PRP B-NP +will MD B-VP +be VB I-VP +testing NN I-VP +pictured VBD B-NP +embroidery NN I-NP +-LRB- ( O +called VBN B-VP +kalega NN B-NP +-RRB- ) O +made VBN B-VP +in IN B-PP +the DT B-NP +Far NNP I-NP +East NNP I-NP +. . O + +He PRP B-NP +plans VBZ B-VP +to TO I-VP +attach VB I-VP +the DT B-NP +embroidery NN I-NP +to TO B-PP +the DT B-NP +backs NNS I-NP +of IN B-PP +mink NN B-NP +coats NNS I-NP +and CC I-NP +jackets NNS I-NP +. . O + +Besides IN B-PP +adding VBG B-VP +to TO B-PP +sales NNS B-NP +, , O +leathers NNS B-NP +also RB B-ADVP +attract VBP B-VP +retailers NNS B-NP +who WP B-NP +may MD B-VP +buy VB I-VP +furs NNS B-NP +later RB B-ADVP +, , O +he PRP B-NP +adds VBZ B-VP +. . O + +Other JJ B-NP +furriers NNS I-NP +have VBP B-VP +also RB I-VP +benefited VBN I-VP +from IN B-PP +leathers NNS B-NP +. . O + +Seymour NNP B-NP +Schreibman NNP I-NP +, , O +the DT B-NP +65-year-old JJ I-NP +owner NN I-NP +of IN B-PP +Schreibman NNP B-NP +Raphael NNP I-NP +Furs NNP I-NP +Inc. NNP I-NP +, , O +treats VBZ B-VP +the DT B-NP +reverse NN I-NP +side NN I-NP +of IN B-PP +a DT B-NP +Persian NNP I-NP +lambskin NN I-NP +to TO B-VP +produce VB I-VP +a DT B-NP +reversible JJ I-NP +fur-and-leather JJ I-NP +garment NN I-NP +. . O + +He PRP B-NP +says VBZ B-VP +it PRP B-NP +accounts VBZ B-VP +for IN B-PP +25 CD B-NP +% NN I-NP +of IN B-PP +total JJ B-NP +sales NNS I-NP +. . O + +Mr. NNP B-NP +Rosen NNP I-NP +is VBZ B-VP +also RB I-VP +pushing VBG I-VP +retail JJ B-NP +sales NNS I-NP +. . O + +This DT B-NP +year NN I-NP +he PRP B-NP +bought VBD B-VP +two CD B-NP +stores NNS I-NP +, , O +one CD B-NP +in IN B-PP +Brooklyn NNP B-NP +and CC O +one CD B-NP +in IN B-PP +Queens NNP B-NP +. . O + +Other JJ B-NP +furriers NNS I-NP +have VBP B-VP +also RB I-VP +placed VBN I-VP +more JJR B-NP +weight NN I-NP +on IN B-PP +retailing NN B-NP +. . O + +Golden NNP B-NP +Feldman NNP I-NP +Furs NNP I-NP +Inc. NNP I-NP +began VBD B-VP +retailing NN I-VP +aggressively RB B-ADVP +eight CD B-NP +years NNS I-NP +ago RB B-ADVP +, , O +and CC O +now RB B-ADVP +retail JJ B-NP +sales NNS I-NP +account NN B-VP +for IN B-PP +about IN B-NP +20 CD I-NP +% NN I-NP +of IN B-PP +gross JJ B-NP +income NN I-NP +. . O + +In IN B-PP +other JJ B-NP +moves NNS I-NP +, , O +Mr. NNP B-NP +Rosen NNP I-NP +says VBZ B-VP +he PRP B-NP +bought VBD B-VP +a DT B-NP +truck NN I-NP +three CD B-NP +years NNS I-NP +ago RB B-ADVP +to TO B-VP +reach VB I-VP +more JJR B-NP +retailers NNS I-NP +. . O + +Since IN B-PP +then RB B-NP +he PRP B-NP +has VBZ B-VP +expanded VBN I-VP +his PRP$ B-NP +fleet NN I-NP +and CC O +can MD B-VP +now RB I-VP +bring VB I-VP +his PRP$ B-NP +furs NNS I-NP +to TO B-PP +the DT B-NP +front NN I-NP +door NN I-NP +of IN B-PP +retailers NNS B-NP +as IN B-ADJP +far RB I-ADJP +away RB I-ADJP +as IN B-PP +the DT B-NP +Midwest NNP I-NP +. . O + +Small JJ B-NP +retailers NNS I-NP +who WP B-NP +ca MD B-VP +n't RB I-VP +afford VB I-VP +to TO I-VP +travel VB I-VP +to TO B-PP +his PRP$ B-NP +New NNP I-NP +York NNP I-NP +showroom NN I-NP +have VBP B-VP +become VBN I-VP +fair JJ B-NP +game NN I-NP +. . O + +Such JJ B-NP +moves NNS I-NP +have VBP B-VP +helped VBN I-VP +Mr. NNP B-NP +Rosen NNP I-NP +weather NN B-VP +the DT B-NP +industry NN I-NP +slump NN I-NP +of IN B-PP +recent JJ B-NP +years NNS I-NP +. . O + +The DT B-NP +industry NN I-NP +enjoyed VBD B-VP +six CD B-NP +prosperous JJ I-NP +years NNS I-NP +beginning VBG B-PP +in IN B-PP +1980 CD B-NP +, , O +but CC O +since IN B-PP +1986 CD B-NP +sales NNS B-NP +have NN B-VP +languished VBN I-VP +at IN B-PP +their PRP$ B-NP +$ $ I-NP +1.8 CD I-NP +billion CD I-NP +peak NN I-NP +. . O + +Large JJ B-NP +furriers NNS I-NP +such JJ B-PP +as IN I-PP +Antonovich NNP B-NP +Inc. NNP I-NP +, , O +Fur NNP B-NP +Vault NNP I-NP +Inc. NNP I-NP +and CC O +Evans NNP B-NP +Inc. NNP I-NP +all DT O +reported VBD B-VP +losses NNS B-NP +in IN B-PP +their PRP$ B-NP +latest JJS I-NP +fiscal JJ I-NP +years NNS I-NP +. . O + +Aftereffects NNS B-NP +of IN B-PP +the DT B-NP +1987 CD I-NP +stock NN I-NP +market NN I-NP +crash NN I-NP +head NN B-VP +the DT B-NP +list NN I-NP +of IN B-PP +reasons NNS B-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +competition NN B-NP +has VBZ B-VP +glutted VBN I-VP +the DT B-NP +market NN I-NP +with IN B-PP +both DT B-NP +skins NNS I-NP +and CC I-NP +coats NNS I-NP +, , O +driving VBG B-VP +prices NNS B-NP +down RB B-ADVP +. . O + +The DT B-NP +animal-rights NNS I-NP +movement NN I-NP +has VBZ B-VP +n't RB I-VP +helped VBN I-VP +sales NNS B-NP +. . O + +Warm JJ B-NP +winters NNS I-NP +over IN B-PP +the DT B-NP +past JJ I-NP +two CD I-NP +years NNS I-NP +have VBP B-VP +trimmed VBN I-VP +demand NN B-NP +, , O +too RB B-ADVP +, , O +furriers NNS B-NP +complain VBP B-VP +. . O + +And CC O +those DT B-NP +who WP B-NP +did VBD B-VP +n't RB I-VP +move VB I-VP +some DT B-NP +production NN I-NP +overseas JJ B-ADVP +suffer VB B-VP +labor NN B-NP +shortages NNS I-NP +. . O + +`` `` O +The DT B-NP +intensive JJ I-NP +labor NN I-NP +needed VBN B-VP +to TO B-VP +manufacture VB I-VP +furs NNS B-NP +-LCB- ( O +in IN B-PP +the DT B-NP +U.S. NNP I-NP +. . O +-RCB- ) O +is VBZ B-VP +not RB O +as RB B-ADJP +available JJ I-ADJP +as IN B-SBAR +it PRP B-NP +was VBD B-VP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Schreibman NNP I-NP +, , O +who WP B-NP +is VBZ B-VP +starting VBG I-VP +overseas JJ B-NP +production NN I-NP +. . O + +But CC O +even RB B-NP +those DT I-NP +who WP B-NP +have VBP B-VP +found VBN I-VP +a DT B-NP +way NN I-NP +to TO B-VP +cope VB I-VP +with IN B-PP +the DT B-NP +imports NNS I-NP +and CC O +the DT B-NP +slump NN I-NP +, , O +fear NN B-VP +that IN B-SBAR +furs NNS B-NP +are VBP B-VP +losing VBG I-VP +part NN B-NP +of IN B-PP +their PRP$ B-NP +allure NN I-NP +. . O + +`` `` O +People NNS B-NP +are VBP B-VP +promoting VBG I-VP +furs NNS B-NP +in IN B-PP +various JJ B-NP +ways NNS I-NP +and CC O +taking VBG B-VP +the DT B-NP +glamour NN I-NP +out IN B-ADVP +of IN B-PP +the DT B-NP +fur NN I-NP +business NN I-NP +, , O +'' '' O +says VBZ B-VP +Stephen NNP B-NP +Sanders NNP I-NP +, , O +divisional JJ B-NP +merchandise NN I-NP +manager NN I-NP +for IN B-PP +Marshall NNP B-NP +Field NNP I-NP +'s POS B-NP +department NN I-NP +store NN I-NP +in IN B-PP +Chicago NNP B-NP +. . O + +`` `` O +You PRP B-NP +ca MD B-VP +n't RB I-VP +make VB I-VP +a DT B-NP +commodity NN I-NP +out IN B-ADVP +of IN B-PP +a DT B-NP +luxury NN I-NP +, , O +'' '' O +insists VBZ B-VP +Mr. NNP B-NP +Purnick NNP I-NP +, , O +the DT B-NP +New NNP I-NP +York NNP I-NP +furrier NN I-NP +. . O + +He PRP B-NP +contends VBZ B-VP +that IN B-SBAR +chasing VBG B-VP +consumers NNS B-NP +with IN B-PP +low-priced JJ B-NP +imports NNS I-NP +will MD B-VP +harm VB I-VP +the DT B-NP +industry NN I-NP +in IN B-PP +the DT B-NP +long JJ I-NP +run NN I-NP +by IN B-PP +reducing VBG B-VP +the DT B-NP +prestige NN I-NP +of IN B-PP +furs NNS B-NP +. . O + +But CC O +Mr. NNP B-NP +Rosen NNP I-NP +responds VBZ B-VP +: : O +`` `` O +Whatever WDT B-NP +people NNS B-NP +want VBP B-VP +to TO I-VP +buy VB I-VP +, , O +I PRP B-NP +'ll MD B-VP +sell VB I-VP +. . O + +The DT B-NP +name NN I-NP +of IN B-PP +the DT B-NP +game NN I-NP +is VBZ B-VP +to TO B-VP +move VB I-VP +goods NNS B-NP +. . O + +Four CD B-NP +workers NNS I-NP +at IN B-PP +GTE NNP B-NP +Corp. NNP I-NP +'s POS B-NP +headquarters NN I-NP +have VBP B-VP +been VBN I-VP +diagnosed VBN I-VP +as IN B-PP +having VBG B-VP +hepatitis NN B-NP +, , O +and CC O +city NN B-NP +health NN I-NP +officials NNS I-NP +are VBP B-VP +investigating VBG I-VP +whether IN B-SBAR +a DT B-NP +cafeteria NN I-NP +worker NN I-NP +may MD B-VP +have VB I-VP +exposed VBN I-VP +hundreds NNS B-NP +of IN B-PP +other JJ B-NP +GTE NNP I-NP +employees NNS I-NP +to TO B-PP +the DT B-NP +viral JJ I-NP +infection NN I-NP +, , O +company NN B-NP +and CC I-NP +city NN I-NP +officials NNS I-NP +said VBD B-VP +. . O + +The DT B-NP +four CD I-NP +cases NNS I-NP +were VBD B-VP +all DT O +reported VBD B-VP +to TO B-PP +GTE NNP B-NP +'s POS B-NP +medical JJ I-NP +director NN I-NP +and CC O +state NN B-NP +and CC I-NP +local JJ I-NP +health NN I-NP +authorities NNS I-NP +. . O + +GTE NNP B-NP +shut VBD B-VP +down RB B-PRT +its PRP$ B-NP +cafeteria NN I-NP +Tuesday NNP B-NP +afternoon NN I-NP +after IN B-SBAR +testing NN B-NP +determined VBN B-VP +that IN B-SBAR +at IN B-NP +least JJS I-NP +one CD I-NP +cafeteria NN I-NP +worker NN I-NP +employed VBN B-VP +by IN B-PP +GTE NNP B-NP +'s POS B-NP +private JJ I-NP +food NN I-NP +vending NN I-NP +contractor NN I-NP +, , O +ARA NNP B-NP +Services NNP I-NP +Inc. NNP I-NP +, , O +was VBD B-VP +suffering VBG I-VP +from IN B-PP +a DT B-NP +strain NN I-NP +of IN B-PP +the DT B-NP +virus NN I-NP +, , O +officials NNS B-NP +said VBD B-VP +. . O + +More RBR B-NP +than IN I-NP +700 CD I-NP +people NNS I-NP +work VBP B-VP +in IN B-PP +the DT B-NP +GTE NNP I-NP +building NN I-NP +. . O + +The DT B-NP +cafeteria NN I-NP +remains VBZ B-VP +closed VBN B-ADJP +. . O + +Dr. NNP B-NP +Andrew NNP I-NP +McBride NNP I-NP +, , O +city NN B-NP +health NN I-NP +director NN I-NP +, , O +said VBD B-VP +his PRP$ B-NP +staff NN I-NP +suspects VBZ B-VP +the DT B-NP +hepatitis NN I-NP +, , O +which WDT B-NP +can MD B-VP +be VB I-VP +highly RB B-ADJP +contagious JJ I-ADJP +, , O +was VBD B-VP +spread NN I-VP +by IN B-PP +the DT B-NP +cafeteria NN I-NP +worker NN I-NP +with IN B-PP +the DT B-NP +virus NN I-NP +. . O + +The DT B-NP +exact JJ I-NP +strain NN I-NP +of IN B-PP +hepatitis NN B-NP +that IN B-NP +the DT B-NP +cafeteria NN I-NP +worker NN I-NP +contracted VBD B-VP +has VBZ B-VP +n't RB I-VP +been VBN I-VP +determined VBN I-VP +but CC O +should MD B-VP +be VB I-VP +known VBN I-VP +by IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +week NN I-NP +, , O +Dr. NNP B-NP +McBride NNP I-NP +said VBD B-VP +. . O + +Hepatitis NNP B-NP +A DT I-NP +, , O +considered VBD B-VP +the DT B-NP +least JJS I-NP +dangerous JJ I-NP +strain NN I-NP +of IN B-PP +the DT B-NP +virus NN I-NP +, , O +has VBZ B-VP +been VBN I-VP +confirmed VBN I-VP +in IN B-PP +at IN B-NP +least JJS I-NP +one CD I-NP +GTE NNP I-NP +employee NN I-NP +, , O +company NN B-NP +and CC I-NP +city NN I-NP +officials NNS I-NP +said VBD B-VP +. . O + +`` `` O +From IN B-PP +a DT B-NP +public JJ I-NP +health NN I-NP +point NN I-NP +of IN B-PP +view NN B-NP +we PRP B-NP +'re VBP B-VP +relieved VBN B-ADJP +because IN B-SBAR +hepatitis NN B-NP +A NNP I-NP +is VBZ B-VP +rarely RB B-ADVP +life-threatening JJ B-ADJP +, , O +'' '' O +said VBD B-VP +Dr. NNP B-NP +Frank NNP I-NP +Provato NNP I-NP +, , O +GTE NNP B-NP +'s POS B-NP +medical JJ I-NP +director NN I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +a DT B-NP +double-edged JJ I-NP +sword NN I-NP +though RB B-ADVP +, , O +because IN B-SBAR +it PRP B-NP +is VBZ B-VP +also RB B-ADVP +the DT B-NP +most RBS I-NP +contagious JJ I-NP +kind NN I-NP +of IN B-PP +hepatitis NN B-NP +. . O +'' '' O + +GTE NNP B-NP +officials NNS I-NP +began VBD B-VP +posting VBG I-VP +warning NN B-NP +notices NNS I-NP +about IN B-PP +the DT B-NP +potential JJ I-NP +threat NN I-NP +to TO B-PP +exposure NN B-NP +Wednesday NNP B-NP +morning NN I-NP +at IN B-PP +various JJ B-NP +places NNS I-NP +at IN B-PP +the DT B-NP +company NN I-NP +, , O +said VBD B-VP +GTE NNP B-NP +spokesman NN I-NP +Thomas NNP I-NP +Mattausch NNP I-NP +. . O + +The DT B-NP +company NN I-NP +has VBZ B-VP +begun VBN I-VP +offering NN I-VP +shots NNS B-NP +of IN B-PP +gamma NN B-NP +globulin NN I-NP +, , O +which WDT B-NP +will MD B-VP +diminish VB I-VP +the DT B-NP +flu-like JJ I-NP +symptoms NNS I-NP +of IN B-PP +hepatitis NN B-NP +A DT I-NP +, , O +in IN B-PP +anyone NN B-NP +who WP B-NP +has VBZ B-VP +contracted VBN I-VP +the DT B-NP +disease NN I-NP +, , O +Mr. NNP B-NP +Mattausch NNP I-NP +said VBD B-VP +. . O + +`` `` O +We PRP B-NP +'re VBP B-VP +strongly RB I-VP +recommending VBG I-VP +that DT B-SBAR +anyone NN B-NP +who WP B-NP +has VBZ B-VP +eaten VBN I-VP +in IN B-PP +the DT B-NP +cafeteria NN I-NP +this DT B-NP +month NN I-NP +have VBP B-VP +the DT B-NP +shot NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Mattausch NNP I-NP +added VBD B-VP +, , O +`` `` O +and CC O +that DT B-NP +means VBZ B-VP +virtually JJ B-NP +everyone NN I-NP +who WP B-NP +works VBZ B-VP +here RB B-ADVP +. . O + +I PRP B-NP +was VBD B-VP +appalled VBN I-VP +to TO B-VP +read VB I-VP +the DT B-NP +misstatements NNS I-NP +of IN B-PP +facts NNS B-NP +in IN B-PP +your PRP$ B-NP +Oct. NNP I-NP +13 CD I-NP +editorial NN I-NP +`` `` O +Colombia NNP B-NP +'s POS B-NP +Brave NNP I-NP +Publisher NNP I-NP +. . O +'' '' O + +It PRP B-NP +is VBZ B-VP +the DT B-NP +right-wing JJ I-NP +guerrillas NNS I-NP +who WP B-NP +are VBP B-VP +aligned VBN I-VP +with IN B-PP +the DT B-NP +drug NN I-NP +traffickers NNS I-NP +, , O +not RB O +the DT B-NP +left VBN I-NP +wing NN I-NP +. . O + +This DT B-NP +information NN I-NP +was VBD B-VP +gleaned VBN I-VP +from IN B-PP +your PRP$ B-NP +own JJ I-NP +news NN I-NP +stories NNS I-NP +on IN B-PP +the DT B-NP +region NN I-NP +. . O + +Past JJ B-NP +Colombian JJ I-NP +government NN I-NP +tolerance NN I-NP +of IN B-PP +the DT B-NP +`` `` I-NP +narcotraficantes FW I-NP +'' '' O +was VBD B-VP +due JJ B-ADJP +to TO B-PP +the DT B-NP +drug NN I-NP +lords NNS I-NP +' POS B-NP +history NN I-NP +of IN B-PP +wiping VBG B-VP +out RP B-PRT +leftists NNS B-NP +in IN B-PP +the DT B-NP +hinterlands NNS I-NP +. . O + +Mary NNP B-NP +Poulin NNP I-NP +Palo NNP B-NP +Alto NNP I-NP +, , O +Calif. NNP B-NP + +I PRP B-NP +suggest VBP B-VP +that IN B-SBAR +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +-LRB- ( O +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +other JJ B-NP +U.S. NNP I-NP +news NN I-NP +publications NNS I-NP +of IN B-PP +like IN B-NP +mind NN I-NP +-RRB- ) O +should MD B-VP +put VB I-VP +its PRP$ B-NP +money NN I-NP +where WRB B-ADVP +its PRP$ B-NP +mouth NN I-NP +is VBZ B-VP +: : O +Lend VB B-VP +computer NN B-NP +equipment NN I-NP +to TO B-VP +replace VB I-VP +that WDT B-NP +damaged VBD B-VP +at IN B-PP +El NNP B-NP +Espectador NNP I-NP +, , O +buy VB B-VP +ad NN B-NP +space NN I-NP +, , O +publish VB B-VP +stories NNS B-NP +under IN B-PP +the DT B-NP +bylines NNS I-NP +of IN B-PP +El NNP B-NP +Espectador NNP I-NP +journalists NNS I-NP +. . O + +Perhaps RB B-ADVP +an DT B-NP +arrangement NN I-NP +could MD B-VP +be VB I-VP +worked VBN I-VP +out IN B-PRT +to TO B-VP +`` `` I-VP +sponsor NN I-VP +'' '' O +El NNP B-NP +Espectador NNP I-NP +journalists NNS I-NP +and CC I-NP +staff NN I-NP +by IN B-PP +paying VBG B-VP +for IN B-PP +added VBN B-NP +security NN I-NP +in IN B-PP +exchange NN B-NP +for IN B-PP +exclusive JJ B-NP +stories NNS I-NP +. . O + +Reward VB B-VP +El NNP B-NP +Espectador NNP I-NP +'s POS B-NP +courage NN I-NP +with IN B-PP +real JJ B-NP +support NN I-NP +. . O + +Douglas NNP B-NP +B. NNP I-NP +Evans NNP I-NP + +COCA-COLA NNP B-NP +Co NNP I-NP +. . O +-LRB- ( O +Atlanta NNP B-NP +-RRB- ) O +-- : O + +Anton NNP B-NP +Amon NNP I-NP +and CC O +George NNP B-NP +Gourlay NNP I-NP +were VBD B-VP +elected VBN I-VP +vice NN B-NP +presidents NNS I-NP +of IN B-PP +this DT B-NP +soft-drink NN I-NP +company NN I-NP +. . O + +Mr. NNP B-NP +Amon NNP I-NP +, , O +46 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +is VBZ B-VP +the DT B-NP +company NN I-NP +'s POS B-NP +director NN I-NP +of IN B-PP +quality NN B-NP +assurance NN I-NP +; : O +most RBS B-ADVP +recently RB I-ADVP +, , O +he PRP B-NP +served VBD B-VP +as IN B-PP +vice NN B-NP +president NN I-NP +, , O +operations NNS B-NP +, , O +for IN B-PP +Coca-Cola NNP B-NP +Enterprises NNPS I-NP +. . O + +Mr. NNP B-NP +Gourlay NNP I-NP +, , O +48 CD B-NP +, , O +is VBZ B-VP +manager NN B-NP +for IN B-PP +corporate JJ B-NP +manufacturing NN I-NP +operations NNS I-NP +; : O +he PRP B-NP +was VBD B-VP +assistant NN B-NP +vice NN I-NP +president NN I-NP +at IN B-PP +the DT B-NP +company NN I-NP +. . O + +In IN B-PP +the DT B-NP +wake NN I-NP +of IN B-PP +a DT B-NP +slide NN I-NP +in IN B-PP +sterling NN B-NP +, , O +a DT B-NP +tailspin NN I-NP +in IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +, , O +and CC O +a DT B-NP +string NN I-NP +of IN B-PP +problematic JJ B-NP +economic JJ I-NP +indicators NNS I-NP +, , O +British NNP O +Chancellor NNP O +of IN B-PP +the DT B-NP +Exchequer NNP I-NP +Nigel NNP B-NP +Lawson NNP I-NP +promised VBD B-VP +gradual JJ B-NP +improvement NN I-NP +in IN B-PP +the DT B-NP +U.K. NNP I-NP +economy NN I-NP +. . O + +In IN B-PP +a DT B-NP +speech NN I-NP +prepared VBN B-VP +for IN B-PP +delivery NN B-NP +to TO B-PP +London NNP B-NP +'s POS B-NP +financial JJ I-NP +community NN I-NP +, , O +Mr. NNP B-NP +Lawson NNP I-NP +summed VBD B-VP +up IN B-PRT +current JJ B-NP +economic JJ I-NP +policy NN I-NP +as IN B-PP +a DT B-NP +battle NN I-NP +to TO B-VP +wring VB I-VP +inflation NN B-NP +out IN B-ADVP +of IN B-PP +the DT B-NP +British JJ I-NP +economy NN I-NP +, , O +using VBG B-VP +high JJ B-NP +interest NN I-NP +rates NNS I-NP +as IN B-PP +`` `` O +the DT B-NP +essential JJ I-NP +instrument NN I-NP +'' '' O +to TO B-VP +carry VB I-VP +out RP B-PRT +the DT B-NP +campaign NN I-NP +. . O + +Two CD B-NP +weeks NNS I-NP +after IN B-PP +boosting VBG B-VP +base NN B-NP +rates NNS I-NP +to TO B-PP +15 CD B-NP +% NN I-NP +, , O +he PRP B-NP +pledged VBD B-VP +that IN B-SBAR +`` `` O +rates NNS B-NP +will MD B-VP +have VB I-VP +to TO I-VP +remain VB I-VP +high JJ B-ADJP +for IN B-PP +some DT B-NP +time NN I-NP +to TO B-VP +come VB I-VP +. . O +'' '' O + +Mr. NNP B-NP +Lawson NNP I-NP +also RB B-ADVP +made VBD B-VP +it PRP B-NP +clear JJ B-ADJP +that IN B-SBAR +he PRP B-NP +would MD B-VP +be VB I-VP +watching VBG I-VP +exchange NN B-NP +rates NNS I-NP +carefully RB B-ADVP +. . O + +A DT B-NP +sinking VBG I-NP +pound NN I-NP +makes VBZ B-VP +imports NNS B-NP +more RBR B-ADJP +expensive JJ I-ADJP +and CC O +increases NNS B-VP +businesses NNS B-NP +' POS B-NP +expectations NNS I-NP +of IN B-PP +future NN B-NP +inflation NN I-NP +, , O +he PRP B-NP +argued VBD B-VP +. . O + +In IN B-PP +an DT B-NP +apparent JJ I-NP +warning NN I-NP +to TO B-PP +currency NN B-NP +traders NNS I-NP +who WP B-NP +have VBP B-VP +lately RB I-VP +been VBN I-VP +selling VBG I-VP +the DT B-NP +British JJ I-NP +currency NN I-NP +, , O +he PRP B-NP +stated VBD B-VP +that IN B-SBAR +the DT B-NP +exchange NN I-NP +rates NNS I-NP +will MD B-VP +have VB I-VP +a DT B-NP +`` `` I-NP +major JJ I-NP +role NN I-NP +in IN B-PP +the DT B-NP +assessment NN I-NP +of IN B-PP +monetary JJ B-NP +conditions NNS I-NP +. . O +'' '' O + +In IN B-PP +reaffirming VBG B-VP +the DT B-NP +current JJ I-NP +monetary JJ I-NP +policy NN I-NP +of IN B-PP +using VBG B-VP +high JJ B-NP +interest NN I-NP +rates NNS I-NP +to TO B-VP +fight VB I-VP +inflation NN B-NP +and CC O +shore NN B-VP +up IN B-PRT +the DT B-NP +pound NN I-NP +, , O +Mr. NNP B-NP +Lawson NNP I-NP +dismissed VBD B-VP +other JJ B-NP +approaches NNS I-NP +to TO B-PP +managing VBG B-VP +the DT B-NP +economy NN I-NP +. . O + +He PRP B-NP +said VBD B-VP +he PRP B-NP +monitors VBZ B-VP +the DT B-NP +money-supply JJ I-NP +figures NNS I-NP +, , O +but CC O +does VBZ B-VP +n't RB I-VP +give VB I-VP +them PRP B-NP +paramount JJ B-NP +importance NN I-NP +, , O +as IN B-SBAR +some DT B-NP +private NN I-NP +and CC I-NP +government NN I-NP +economists NNS I-NP +have VBP B-VP +suggested VBN I-VP +. . O + +Mr. NNP B-NP +Lawson NNP I-NP +also RB B-ADVP +dismissed VBD B-VP +the DT B-NP +possibility NN B-NP +of IN B-PP +imposing VBG B-VP +direct JJ B-NP +credit NN I-NP +controls NNS I-NP +on IN B-PP +Britain NNP B-NP +'s POS B-NP +financial JJ I-NP +system NN I-NP +. . O + +Mr. NNP B-NP +Lawson NNP I-NP +'s POS B-NP +speech NN I-NP +, , O +delivered VBN B-VP +at IN B-PP +the DT B-NP +Lord NNP I-NP +Mayor NNP I-NP +of IN B-PP +London NNP B-NP +'s POS B-NP +annual JJ I-NP +dinner NN I-NP +at IN B-PP +Mansion NNP B-NP +House NNP I-NP +, , O +came VBD B-VP +on IN B-PP +the DT B-NP +heels NNS I-NP +of IN B-PP +a DT B-NP +grueling JJ I-NP +period NN I-NP +for IN B-PP +the DT B-NP +U.K. NNP I-NP +economy NN I-NP +. . O + +Two CD B-NP +weeks NNS I-NP +ago RB B-ADVP +, , O +in IN B-PP +a DT B-NP +campaign NN I-NP +to TO B-VP +blunt VB I-VP +inflation NN B-NP +at IN B-PP +home NN B-NP +and CC O +arrest VB B-VP +a DT B-NP +world-wide JJ I-NP +plunge NN I-NP +in IN B-PP +the DT B-NP +pound NN I-NP +, , O +he PRP B-NP +raised VBD B-VP +base NN B-NP +rates VBZ I-NP +a DT B-NP +full JJ I-NP +percentage NN I-NP +point NN I-NP +to TO B-PP +15 CD B-NP +% NN I-NP +. . O + +Despite IN B-PP +the DT B-NP +increase NN I-NP +, , O +the DT B-NP +British JJ I-NP +currency NN I-NP +slid VBD B-VP +below IN B-PP +a DT B-NP +perceived VBN I-NP +threshold NN I-NP +of IN B-PP +three CD B-NP +marks NNS I-NP +early JJ B-NP +last JJ I-NP +week NN I-NP +. . O + +It PRP B-NP +was VBD B-VP +quoted VBN I-VP +at IN B-PP +2.9428 CD B-NP +marks NNS I-NP +in IN B-PP +late JJ B-NP +New NNP I-NP +York NNP I-NP +trading NN I-NP +Wednesday NNP B-NP +. . O + +Leading VBG B-VP +up IN B-ADVP +to TO B-PP +the DT B-NP +speech NN I-NP +was VBD B-VP +a DT B-NP +drumroll NN I-NP +of IN B-PP +economic JJ B-NP +statistics NNS I-NP +suggesting VBG B-VP +that IN B-SBAR +the DT B-NP +British JJ I-NP +war NN I-NP +on IN B-PP +inflation NN B-NP +will MD B-VP +be VB I-VP +more RBR B-ADJP +bruising JJ I-ADJP +than IN B-SBAR +previously RB B-ADVP +assumed VBN B-VP +. . O + +Unemployment NN B-NP +in IN B-PP +September NNP B-NP +dropped VBD B-VP +to TO B-PP +1,695,000 CD B-NP +, , O +the DT B-NP +lowest JJS I-NP +level NN I-NP +since IN B-PP +1980 CD B-NP +. . O + +While IN B-SBAR +lower JJR B-NP +joblessness NN I-NP +is VBZ B-VP +generally RB B-ADVP +good JJ B-NP +news NN I-NP +, , O +the DT B-NP +hefty JJ I-NP +drop NN I-NP +last JJ B-NP +month NN I-NP +indicates VBZ B-VP +that IN B-SBAR +the DT B-NP +economy NN I-NP +is VBZ B-VP +n't RB I-VP +slowing VBG I-VP +down RB B-PRT +as RB B-ADVP +much JJ I-ADVP +as IN B-SBAR +hoped VBN B-VP +-- : O +despite IN B-PP +a DT B-NP +doubling NN I-NP +of IN B-PP +interest NN B-NP +rates NNS I-NP +over IN B-PP +the DT B-NP +last JJ I-NP +16 CD I-NP +months NNS I-NP +. . O + +Meanwhile RB B-ADVP +, , O +average JJ B-NP +earnings NNS I-NP +in IN B-PP +Britain NNP B-NP +were VBD B-VP +up IN B-ADVP +8.75 CD B-NP +% NN I-NP +in IN B-PP +August NNP B-NP +over IN B-PP +the DT B-NP +previous JJ I-NP +year NN I-NP +. . O + +Another DT B-NP +inflationary JJ I-NP +sign NN I-NP +came VBD B-VP +in IN B-PP +a DT B-NP +surge NN I-NP +in IN B-PP +building-society JJ B-NP +lending NN I-NP +to TO B-PP +a DT B-NP +record NN I-NP +# # I-NP +10.2 CD I-NP +billion CD I-NP +-LRB- ( O +$ $ B-NP +16.22 CD I-NP +billion CD I-NP +-RRB- ) O +last JJ B-NP +month NN I-NP +, , O +a DT B-NP +much RB I-NP +higher JJR I-NP +level NN I-NP +than IN B-SBAR +economists NNS B-NP +had VBD B-VP +predicted VBN I-VP +. . O + +In IN B-PP +a DT B-NP +separate JJ I-NP +speech NN I-NP +prepared VBN B-VP +for IN B-PP +delivery NN B-NP +at IN B-PP +the DT B-NP +dinner NN I-NP +, , O +Robin NNP B-NP +Leigh-Pemberton NNP I-NP +, , O +Bank NNP O +of IN B-PP +England NNP B-NP +governor NN B-NP +, , O +conceded VBD B-VP +that IN B-SBAR +`` `` O +demand NN B-NP +pressures NNS I-NP +were VBD B-VP +even RB B-ADJP +more RBR I-ADJP +buoyant JJ I-ADJP +than IN B-SBAR +had VBN B-VP +been VBN I-VP +appreciated VBN I-VP +'' '' O +when WRB B-ADVP +the DT B-NP +British JJ I-NP +economy NN I-NP +was VBD B-VP +heating VBG I-VP +up IN B-PRT +last JJ B-NP +year NN I-NP +. . O + +He PRP B-NP +added VBD B-VP +that IN B-SBAR +`` `` O +there EX B-NP +'s VBZ B-VP +no DT B-NP +quick-fix JJ I-NP +solution NN I-NP +'' '' O +to TO B-PP +the DT B-NP +economic JJ I-NP +woes NNS I-NP +, , O +and CC O +said VBD B-VP +`` `` O +tight JJ B-NP +monetary JJ I-NP +policy NN I-NP +is VBZ B-VP +the DT B-NP +right JJ I-NP +approach NN I-NP +. . O +'' '' O + +Discussing VBG B-VP +the DT B-NP +recent JJ I-NP +slide NN I-NP +in IN B-PP +stock NN B-NP +prices NNS I-NP +, , O +the DT B-NP +central JJ I-NP +bank NN I-NP +governor NN I-NP +stated VBN B-VP +that IN B-SBAR +`` `` O +the DT B-NP +markets NNS I-NP +now RB B-ADVP +appear VBP B-VP +to TO I-VP +have VB I-VP +steadied VBN I-VP +'' '' O +after IN B-PP +the DT B-NP +`` `` I-NP +nasty JJ I-NP +jolt NN I-NP +'' '' O +of IN B-PP +the DT B-NP +190.58-point JJ I-NP +plunge NN I-NP +in IN B-PP +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +a DT B-NP +week NN I-NP +ago RB B-ADVP +. . O + +Although IN B-SBAR +the DT B-NP +New NNP I-NP +York NNP I-NP +market NN I-NP +plunge NN I-NP +prompted VBD B-VP +a DT B-NP +70.5-point JJ I-NP +drop NN I-NP +in IN B-PP +the DT B-NP +London NNP I-NP +Financial NNP I-NP +Times-Stock NNP I-NP +Exchange NNP I-NP +100 CD I-NP +Share NNP I-NP +Index NNP I-NP +, , O +Mr. NNP B-NP +Leigh-Pemberton NNP I-NP +declared VBD B-VP +`` `` O +that IN B-SBAR +the DT B-NP +experience NN I-NP +owed VBD B-VP +nothing NN B-NP +to TO B-PP +the DT B-NP +particular JJ I-NP +problems NNS I-NP +of IN B-PP +the DT B-NP +British JJ I-NP +economy NN I-NP +. . O +'' '' O + +Specifically RB B-ADVP +, , O +he PRP B-NP +pointed VBD B-VP +out IN B-PRT +that DT B-SBAR +compared VBD B-PP +with IN B-PP +the DT B-NP +U.S. NNP I-NP +market NN I-NP +, , O +the DT B-NP +U.K. NNP I-NP +has VBZ B-VP +far RB B-NP +fewer RBR I-NP +highly RB I-NP +leveraged JJ I-NP +junk-bond NN I-NP +financings NNS I-NP +. . O + +Discussing VBG B-VP +future NN B-NP +monetary JJ I-NP +arrangements NNS I-NP +, , O +Mr. NNP B-NP +Lawson NNP I-NP +repeated VBD B-VP +the DT B-NP +Thatcher NNP I-NP +government NN I-NP +'s POS B-NP +commitment NN I-NP +to TO B-VP +join VB I-VP +the DT B-NP +exchange NN I-NP +rate NN I-NP +mechanism NN I-NP +of IN B-PP +the DT B-NP +European NNP I-NP +Monetary NNP I-NP +System NNP I-NP +, , O +but CC O +he PRP B-NP +did VBD B-VP +n't RB I-VP +indicate VB I-VP +when WRB O +. . O + +Ing NNP O +. . O + +C. NNP B-NP +Olivetti NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +claiming VBG B-VP +it PRP B-NP +has VBZ B-VP +won VBN I-VP +the DT B-NP +race NN I-NP +in IN B-PP +Europe NNP B-NP +to TO B-VP +introduce VB I-VP +computers NNS B-NP +based VBN B-PP +on IN B-PP +a DT B-NP +powerful JJ I-NP +new JJ I-NP +microprocessor NN I-NP +chip NN I-NP +, , O +unveiled VBD B-VP +its PRP$ B-NP +CP486 NNP I-NP +computer NN I-NP +yesterday NN B-NP +. . O + +The DT B-NP +product NN I-NP +is VBZ B-VP +the DT B-NP +first JJ I-NP +from IN B-PP +a DT B-NP +European JJ I-NP +company NN I-NP +based VBN B-PP +on IN B-PP +Intel NNP B-NP +Corp. NNP I-NP +'s POS B-NP +new JJ I-NP +32-bit JJ I-NP +486tm JJ I-NP +microprocessor NN I-NP +, , O +which WDT B-NP +works VBZ B-VP +several JJ B-ADVP +times NNS I-ADVP +faster RBR I-ADVP +than IN B-PP +previously RB B-NP +available JJ I-NP +chips NNS I-NP +. . O + +Hewlett-Packard NNP B-NP +Co. NNP I-NP +became VBD B-VP +the DT B-NP +first JJ I-NP +company NN I-NP +world-wide JJ B-ADVP +to TO B-VP +announce VB I-VP +a DT B-NP +product NN I-NP +based VBN B-PP +on IN B-PP +the DT B-NP +chip NN I-NP +earlier RBR B-NP +this DT I-NP +month NN I-NP +, , O +but CC O +it PRP B-NP +wo MD B-VP +n't RB I-VP +start VB I-VP +shipping VBG I-VP +the DT B-NP +computers NNS I-NP +until IN B-PP +early JJ B-NP +next JJ I-NP +year NN I-NP +. . O + +An DT B-NP +Olivetti NNP I-NP +spokesman NN I-NP +said VBD B-VP +the DT B-NP +company NN I-NP +'s POS B-NP +factories NNS I-NP +are VBP B-VP +already RB I-VP +beginning VBG I-VP +to TO I-VP +produce VB I-VP +the DT B-NP +machine NN I-NP +, , O +and CC O +that IN B-SBAR +it PRP B-NP +should MD B-VP +be VB I-VP +available JJ B-ADJP +in IN B-PP +Europe NNP B-NP +by IN B-PP +December NNP B-NP +. . O + +`` `` O +What WP B-NP +this DT B-NP +means VBZ B-VP +is VBZ B-VP +that IN B-SBAR +Europeans NNPS B-NP +will MD B-VP +have VB I-VP +these DT B-NP +machines NNS I-NP +in IN B-PP +their PRP$ B-NP +offices NNS I-NP +before IN O +Americans NNPS B-NP +do VBP B-VP +, , O +'' '' O +the DT B-NP +spokesman NN I-NP +said VBD B-VP +. . O + +The DT B-NP +new JJ I-NP +chip NN I-NP +`` `` O +is VBZ B-VP +a DT B-NP +very RB I-NP +big JJ I-NP +step NN I-NP +in IN B-PP +computing VBG B-NP +, , O +and CC O +it PRP B-NP +is VBZ B-VP +important JJ B-ADJP +that WDT B-SBAR +Olivetti NNP B-NP +be VB B-VP +one CD B-NP +of IN B-PP +the DT B-NP +first JJ I-NP +out IN B-ADJP +on IN B-PP +the DT B-NP +market NN I-NP +with IN B-PP +this DT B-NP +product NN I-NP +, , O +'' '' O +said VBD B-VP +Patricia NNP B-NP +Meagher NNP I-NP +Davis NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +at IN B-PP +James NNP B-NP +Capel NNP I-NP +& CC I-NP +Co. NNP I-NP +in IN B-PP +London NNP B-NP +. . O + +Executives NNS B-NP +at IN B-PP +Olivetti NNP B-NP +, , O +whose WP$ B-NP +earnings NNS I-NP +have NN B-VP +been VBN I-VP +steadily RB I-VP +sliding VBG I-VP +over IN B-PP +the DT B-NP +past JJ I-NP +couple NN I-NP +of IN B-PP +years NNS B-NP +, , O +have VBP B-VP +acknowledged VBN I-VP +that IN B-SBAR +in IN B-PP +the DT B-NP +past JJ I-NP +they PRP B-NP +have VBP B-VP +lagged VBN I-VP +at IN B-PP +getting VBG B-VP +new JJ B-NP +technology NN I-NP +to TO B-PP +market VB B-NP +. . O + +Ms. NNP B-NP +Davis NNP I-NP +said VBD B-VP +the DT B-NP +new JJ I-NP +machines NNS I-NP +could MD B-VP +steal VB I-VP +some DT B-NP +sales NNS I-NP +away RB B-ADVP +from IN B-PP +Olivetti NNP B-NP +'s POS B-NP +own JJ I-NP +minicomputers NNS I-NP +, , O +but CC O +would MD B-VP +bring VB I-VP +new JJ B-NP +sales NNS I-NP +among IN B-PP +professionals NNS B-NP +such JJ B-PP +as IN I-PP +engineers NNS B-NP +, , O +stockbrokers NNS B-NP +and CC O +medical JJ B-NP +doctors NNS I-NP +. . O + +Although IN B-SBAR +Olivetti NNP B-NP +'s POS B-NP +profits NNS I-NP +tumbled VBD B-VP +40 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +first JJ I-NP +half NN I-NP +of IN B-PP +this DT B-NP +year NN I-NP +, , O +she PRP B-NP +believes VBZ B-VP +Olivetti NNP B-NP +'s POS B-NP +restructuring NN I-NP +last JJ B-NP +fall NN I-NP +and CC O +its PRP$ B-NP +introduction NN I-NP +of IN B-PP +new JJ B-NP +products NNS I-NP +will MD B-VP +begin VB I-VP +to TO I-VP +bear VB I-VP +fruit NN B-NP +with IN B-PP +an DT B-NP +earnings NNS I-NP +rebound NN I-NP +next JJ B-NP +year NN I-NP +, , O +especially RB B-ADVP +if IN B-SBAR +it PRP B-NP +can MD B-VP +fulfill VB I-VP +its PRP$ B-NP +promise NN I-NP +to TO B-VP +deliver VB I-VP +the DT B-NP +new JJ I-NP +machines NNS I-NP +by IN B-PP +December NNP B-NP +. . O + +`` `` O +We PRP B-NP +think VBP B-VP +the DT B-NP +worst JJS I-NP +is VBZ B-VP +over IN B-ADVP +'' '' O +in IN B-PP +the DT B-NP +European JJ I-NP +information-technology JJ I-NP +market NN I-NP +, , O +she PRP B-NP +said VBD B-VP +. . O + +Depending VBG B-PP +on IN B-PP +the DT B-NP +type NN I-NP +of IN B-PP +software NN B-NP +and CC I-NP +peripherals NNS I-NP +used VBN B-VP +, , O +the DT B-NP +machines NNS I-NP +can MD B-VP +serve VB I-VP +either DT O +as IN B-PP +the DT B-NP +main JJ I-NP +computer NN I-NP +in IN B-PP +a DT B-NP +network NN I-NP +of IN B-PP +many JJ B-NP +terminals NNS I-NP +-LRB- ( O +a DT B-NP +role NN I-NP +usually RB B-VP +filled VBD I-VP +by IN B-PP +a DT B-NP +minicomputer NN I-NP +-RRB- ) O +, , O +as IN B-PP +a DT B-NP +technical JJ I-NP +workstation NN I-NP +or CC B-PP +as IN B-PP +a DT B-NP +very RB I-NP +fast RB I-NP +personal JJ I-NP +computer NN I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +the DT B-NP +missing VBG I-NP +link NN I-NP +'' '' O +in IN B-PP +Olivetti NNP B-NP +'s POS B-NP +product NN I-NP +line NN I-NP +between IN B-PP +small JJ B-NP +personal JJ I-NP +computers NNS I-NP +and CC O +higher-priced JJ B-NP +minicomputers NNS I-NP +, , O +the DT B-NP +Olivetti NNP I-NP +spokesman NN I-NP +said VBD B-VP +. . O + +He PRP B-NP +added VBD B-VP +that IN B-SBAR +Olivetti NNP B-NP +will MD B-VP +continue VB I-VP +making VBG I-VP +its PRP$ B-NP +LSX NNP I-NP +minicomputer NN I-NP +line NN I-NP +. . O + +The DT B-NP +machines NNS I-NP +will MD B-VP +cost VB I-VP +around IN B-NP +$ $ I-NP +16,250 CD I-NP +on IN B-PP +average JJ B-NP +in IN B-PP +Europe NNP B-NP +. . O + +The DT B-NP +Intel NNP I-NP +486 CD I-NP +chip NN I-NP +can MD B-VP +process VB I-VP +15 CD B-NP +million CD I-NP +instructions NNS I-NP +per IN B-PP +second JJ B-NP +, , O +or CC O +MIPS NNP B-NP +, , O +while IN B-SBAR +Intel NNP B-NP +'s POS B-NP +previous JJ I-NP +386 CD I-NP +chip NN I-NP +could MD B-VP +handle VB I-VP +only RB B-NP +3 CD I-NP +to TO I-NP +6 CD I-NP +MIPS NNP I-NP +. . O + +Olivetti NNP B-NP +also RB B-ADVP +plans VBZ B-VP +to TO I-VP +sell VB I-VP +the DT B-NP +CP486 NNP I-NP +computer NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +starting VBG B-PP +next JJ B-NP +year NN I-NP +through IN B-PP +Olivetti NNP B-NP +USA NNP I-NP +and CC B-PP +through IN B-PP +its PRP$ B-NP +ISC\/Bunker NNP I-NP +Ramo NNP I-NP +unit NN I-NP +, , O +which WDT B-NP +specializes VBZ B-VP +in IN B-PP +automating VBG B-VP +bank-branch JJ B-NP +networks NNS I-NP +. . O + +Viatech NNP B-NP +Inc. NNP I-NP +said VBD B-VP +it PRP B-NP +received VBD B-VP +approval NN B-NP +from IN B-PP +the DT B-NP +French JJ I-NP +government NN I-NP +for IN B-PP +its PRP$ B-NP +proposed VBN I-NP +$ $ I-NP +44.7 CD I-NP +million CD I-NP +acquisition NN I-NP +of IN B-PP +Ferembal NNP B-NP +S.A NNP I-NP +. . O + +The DT B-NP +approval NN I-NP +satisfies VBZ B-VP +the DT B-NP +remaining VBG I-NP +conditions NNS I-NP +of IN B-PP +the DT B-NP +purchase NN I-NP +, , O +which WDT B-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +close VB I-VP +within IN B-PP +two CD B-NP +weeks NNS I-NP +. . O + +erembal NNP B-NP +, , O +the DT B-NP +second-largest JJ I-NP +maker NN I-NP +of IN B-PP +food NN B-NP +cans NNS I-NP +in IN B-PP +France NNP B-NP +, , O +had VBD B-VP +1988 CD B-NP +sales NNS I-NP +of IN B-PP +$ $ B-NP +150 CD I-NP +million CD I-NP +. . O + +Ferembal NNP B-NP +has VBZ B-VP +930 CD B-NP +workers NNS I-NP +at IN B-PP +four CD B-NP +canning NN I-NP +manufacturing NN I-NP +plants NNS I-NP +and CC O +one CD B-NP +plastic NN I-NP +container NN I-NP +facility NN I-NP +. . O + +Viatech NNP B-NP +makes VBZ B-VP +flexible JJ B-NP +packaging NN I-NP +films NNS I-NP +and CC O +machinery NN B-NP +, , O +and CC O +materials NNS B-NP +for IN B-PP +the DT B-NP +food NN I-NP +and CC I-NP +pharmaceutical JJ I-NP +industries NNS I-NP +. . O + +Social NNP B-NP +Security NNP I-NP +benefits NNS I-NP +will MD B-VP +rise VB I-VP +4.7 CD B-NP +% NN I-NP +next JJ B-NP +year NN I-NP +to TO B-VP +keep VB I-VP +pace NN B-NP +with IN B-PP +inflation NN B-NP +, , O +boosting VBG B-VP +the DT B-NP +average JJ I-NP +monthly JJ I-NP +benefit NN I-NP +to TO B-PP +$ $ B-NP +566 CD I-NP +from IN B-PP +$ $ B-NP +541 CD I-NP +, , O +the DT B-NP +Department NNP I-NP +of IN B-PP +Health NNP B-NP +and CC O +Human NNP B-NP +Services NNP I-NP +announced VBD B-VP +. . O + +The DT B-NP +higher JJR I-NP +payments NNS I-NP +will MD B-VP +start VB I-VP +with IN B-PP +Social NNP B-NP +Security NNP I-NP +checks NNS I-NP +received VBD B-VP +on IN B-PP +Jan. NNP B-NP +3 CD I-NP +, , I-NP +1990 CD I-NP +. . O + +Supplemental NNP B-NP +Security NNP I-NP +Income NNP I-NP +payments NNS I-NP +to TO B-PP +the DT B-NP +disabled JJ I-NP +also RB B-ADVP +will MD B-VP +rise VB I-VP +4.7 CD B-NP +% NN I-NP +, , O +starting VBG B-PP +with IN B-PP +checks NNS B-NP +received VBD B-VP +on IN B-PP +Dec. NNP B-NP +29 CD I-NP +, , I-NP +1988 CD I-NP +, , O +increasing VBG B-VP +the DT B-NP +maximum JJ I-NP +SSI NNP I-NP +payment NN I-NP +to TO B-PP +$ $ B-NP +386 CD I-NP +from IN B-PP +$ $ B-NP +368 CD I-NP +a DT B-NP +month NN I-NP +. . O + +The DT B-NP +inflation NN I-NP +adjustment NN I-NP +also RB B-ADVP +means VBZ B-VP +that IN B-SBAR +the DT B-NP +maximum JJ I-NP +annual JJ I-NP +level NN I-NP +of IN B-PP +earnings NNS B-NP +subject NN B-ADJP +to TO B-PP +the DT B-NP +wage NN I-NP +tax NN I-NP +that WDT B-NP +generates VBZ B-VP +revenue NN B-NP +for IN B-PP +the DT B-NP +Social NNP I-NP +Security NNP I-NP +trust NN I-NP +fund NN I-NP +will MD B-VP +rise VB I-VP +to TO B-PP +$ $ B-NP +50,400 CD I-NP +in IN B-PP +1990 CD B-NP +from IN B-PP +$ $ B-NP +48,000 CD I-NP +this DT B-NP +year NN I-NP +. . O + +As IN B-SBAR +mandated VBN B-VP +by IN B-PP +law NN B-NP +, , O +the DT B-NP +tax NN I-NP +rate NN I-NP +will MD B-VP +rise VB I-VP +to TO B-PP +7.65 CD B-NP +% NN I-NP +in IN B-PP +1990 CD B-NP +from IN B-PP +7.51 CD B-NP +% NN I-NP +and CC O +wo MD B-VP +n't RB I-VP +rise VB I-VP +any DT B-ADVP +further JJ I-ADVP +in IN B-PP +the DT B-NP +future NN I-NP +. . O + +This DT B-NP +means VBZ B-VP +that IN B-SBAR +the DT B-NP +maximum JJ I-NP +yearly JJ I-NP +Social NNP I-NP +Security NNP I-NP +tax NN I-NP +paid VBN B-VP +by IN B-PP +workers NNS B-NP +and CC I-NP +employers NNS I-NP +each DT I-NP +will MD B-VP +rise VB I-VP +$ $ B-NP +250.80 CD I-NP +next JJ B-NP +year NN I-NP +to TO B-PP +$ $ B-NP +3,855.60 CD I-NP +. . O + +Beneficiaries NNS B-NP +aged VBN B-ADJP +65 CD B-NP +through IN I-NP +69 CD I-NP +will MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +earn VB I-VP +$ $ B-NP +9,360 CD I-NP +without IN B-PP +losing VBG B-VP +any DT B-NP +Social NNP I-NP +Security NNP I-NP +benefits NNS I-NP +in IN B-PP +1990 CD B-NP +, , O +up IN B-ADVP +from IN B-PP +$ $ B-NP +8,880 CD I-NP +this DT B-NP +year NN I-NP +. . O + +The DT B-NP +exempt JJ I-NP +amount NN I-NP +for IN B-PP +beneficiaries NNS B-NP +under IN B-PP +65 CD B-NP +will MD B-VP +rise VB I-VP +to TO B-PP +$ $ B-NP +6,840 CD I-NP +from IN B-PP +$ $ B-NP +6,480 CD I-NP +. . O + +The DT B-NP +adjustments NNS I-NP +reflect VBP B-VP +the DT B-NP +increase NN I-NP +in IN B-PP +the DT B-NP +consumer NN I-NP +price NN I-NP +index NN I-NP +for IN B-PP +urban JJ B-NP +wage NN I-NP +earners NNS I-NP +and CC O +clerical JJ B-NP +workers NNS I-NP +from IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +of IN B-PP +last JJ B-NP +year NN I-NP +to TO B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +of IN B-PP +this DT B-NP +year NN I-NP +. . O + +Health-care JJ B-NP +companies NNS I-NP +should MD B-VP +get VB I-VP +healthier JJR B-ADJP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +. . O + +Medical-supply JJ B-NP +houses NNS I-NP +are VBP B-VP +expected VBN I-VP +to TO I-VP +report VB I-VP +earnings NNS B-NP +increases NNS I-NP +of IN B-PP +about IN B-NP +15 CD I-NP +% NN I-NP +on IN B-PP +average JJ B-NP +for IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +, , O +despite IN B-PP +sales NNS B-NP +increases NNS I-NP +of IN B-PP +less JJR B-NP +than IN I-NP +10 CD I-NP +% NN I-NP +, , O +analysts NNS B-NP +say VBP B-VP +. . O + +To TO B-VP +offset VB I-VP +sluggish JJ B-NP +sales NNS I-NP +growth NN I-NP +, , O +companies NNS B-NP +have VBP B-VP +been VBN I-VP +cutting VBG I-VP +staff NN B-NP +, , O +mostly RB B-ADVP +through IN B-PP +attrition NN B-NP +, , O +and CC O +slowing VBG B-VP +the DT B-NP +growth NN I-NP +in IN B-PP +research NN B-NP +and CC I-NP +development NN I-NP +spending NN I-NP +. . O + +Sales NNS B-NP +growth NN I-NP +in IN B-PP +the DT B-NP +quarter NN I-NP +was VBD B-VP +slowed VBN I-VP +by IN B-PP +mounting VBG B-NP +pressure NN I-NP +from IN B-PP +groups NNS B-NP +of IN B-PP +buyers NNS B-NP +, , O +such JJ B-PP +as IN I-PP +hospitals NNS B-NP +, , O +to TO B-VP +hold VB I-VP +down RB B-PRT +prices VBZ B-NP +. . O + +Suppliers NNS B-NP +were VBD B-VP +also RB I-VP +hurt VBN I-VP +by IN B-PP +the DT B-NP +stronger JJR I-NP +U.S. NNP I-NP +dollar NN I-NP +, , O +which WDT B-NP +makes VBZ B-VP +sales NNS B-NP +abroad RB B-ADVP +more RBR B-ADJP +difficult JJ I-ADJP +. . O + +In IN B-PP +some DT B-NP +cases NNS I-NP +, , O +competition NN B-NP +has VBZ B-VP +squeezed VBN I-VP +margins NNS B-NP +. . O + +Becton NNP B-NP +, , I-NP +Dickinson NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +for IN B-PP +example NN B-NP +, , O +faces VBZ B-VP +stiff JJ B-NP +competition NN I-NP +from IN B-PP +a DT B-NP +Japanese JJ I-NP +supplier NN I-NP +in IN B-PP +the DT B-NP +important JJ I-NP +syringe NN I-NP +market NN I-NP +. . O + +The DT B-NP +Franklin NNP I-NP +Lakes NNPS I-NP +, , I-NP +N.J. NNP I-NP +, , I-NP +company NN I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +report VB I-VP +sales NNS B-NP +growth NN I-NP +of IN B-PP +only JJ B-NP +5 NN I-NP +% NN I-NP +to TO I-NP +6 CD I-NP +% NN I-NP +, , O +but CC O +should MD B-VP +still RB I-VP +maintain VB I-VP +earnings NNS B-NP +growth NN I-NP +of IN B-PP +10 CD B-NP +% NN I-NP +, , O +says VBZ B-VP +Jerry NNP B-NP +E. NNP I-NP +Fuller NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +with IN B-PP +Duff NNP B-NP +& CC I-NP +Phelps NNP I-NP +Inc NNP I-NP +. . O + +Among IN B-PP +the DT B-NP +first JJ I-NP +of IN B-PP +the DT B-NP +group NN I-NP +to TO B-VP +post VB I-VP +results NNS B-NP +, , O +Abbott NNP B-NP +Laboratories NNPS I-NP +said VBD B-VP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +jumped VBD B-VP +14 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +196 CD I-NP +million CD I-NP +, , O +or CC O +88 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +172 CD I-NP +million CD I-NP +, , O +or CC O +76 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Sales NNS B-NP +for IN B-PP +the DT B-NP +company NN I-NP +, , O +based VBN B-VP +in IN B-PP +Abbott NNP B-NP +Park NNP I-NP +, , O +Ill. NNP B-NP +, , O +rose VBD B-VP +8.3 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +1.31 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +1.21 CD I-NP +billion CD I-NP +. . O + +Baxter NNP B-NP +International NNP I-NP +Inc. NNP I-NP +yesterday NN B-NP +reported VBD B-VP +net NN B-NP +climbed VBD B-VP +20 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +third JJ I-NP +period NN I-NP +to TO B-PP +$ $ B-NP +102 CD I-NP +million CD I-NP +, , O +or CC O +34 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +85 CD I-NP +million CD I-NP +, , O +or CC O +28 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Sales NNS B-NP +for IN B-PP +the DT B-NP +Deerfield NNP I-NP +, , I-NP +Ill. NNP I-NP +, , I-NP +company NN I-NP +rose VBD B-VP +5.8 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +1.81 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +1.71 CD I-NP +billion CD I-NP +. . O + +But CC O +not RB B-NP +every DT I-NP +company NN I-NP +expects VBZ B-VP +to TO I-VP +report VB I-VP +increased VBN B-NP +earnings NNS I-NP +. . O + +C.R. NNP B-NP +Bard NNP I-NP +Inc. NNP I-NP +yesterday NN B-NP +said VBD B-VP +third-quarter JJ B-NP +net NN I-NP +plunged VBD B-VP +51 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +9.9 CD I-NP +million CD I-NP +, , O +or CC O +18 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +20 CD I-NP +million CD I-NP +, , O +or CC O +35 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Sales NNS B-NP +fell VBD B-VP +1.2 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +190.1 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +192.5 CD I-NP +million CD I-NP +. . O + +The DT B-NP +Murray NNP I-NP +Hill NNP I-NP +, , I-NP +N.J. NNP I-NP +, , I-NP +company NN I-NP +said VBD B-VP +full-year JJ B-NP +earnings NNS I-NP +may MD B-VP +be VB I-VP +off IN B-ADVP +33 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +because IN B-SBAR +the DT B-NP +company NN I-NP +removed VBD B-VP +a DT B-NP +catheter NN I-NP +from IN B-PP +the DT B-NP +market NN I-NP +. . O + +In IN B-PP +1988 CD B-NP +, , O +the DT B-NP +company NN I-NP +earned VBD B-VP +$ $ B-NP +1.38 CD I-NP +a DT B-NP +share NN I-NP +. . O + +The DT B-NP +Food NNP I-NP +and CC I-NP +Drug NNP I-NP +Administration NNP I-NP +had VBD B-VP +raised VBN I-VP +questions NNS B-NP +about IN B-PP +the DT B-NP +device NN I-NP +'s POS B-NP +design NN I-NP +. . O + +Some DT B-NP +analysts NNS I-NP +add VBP B-VP +that IN B-SBAR +third-party JJ B-NP +pressures NNS I-NP +to TO B-VP +reduce VB I-VP +health NN B-NP +costs NNS I-NP +will MD B-VP +continue VB I-VP +to TO I-VP +bedevil VB I-VP +companies NNS B-NP +' POS B-NP +bottom NN I-NP +lines NNS I-NP +. . O + +Takeover NN B-NP +speculation NN I-NP +, , O +which WDT B-NP +has VBZ B-VP +been VBN I-VP +buoying VBG I-VP +stocks NNS B-NP +of IN B-PP +supply NN B-NP +houses NNS I-NP +, , O +may MD B-VP +also RB I-VP +ease VB I-VP +, , O +says VBZ B-VP +Peter NNP B-NP +Sidoti NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +with IN B-PP +Drexel NNP B-NP +Burnham NNP I-NP +Lambert NNP I-NP +Inc NNP I-NP +. . O + +`` `` O +As IN B-SBAR +that DT B-NP +wanes VBZ B-VP +, , O +you PRP B-NP +'re VBP B-VP +going VBG I-VP +to TO I-VP +see VB I-VP +the DT B-NP +stocks NNS I-NP +probably RB B-ADVP +wane VBP B-VP +as IN B-ADVP +well RB I-ADVP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +Hospitals NNS B-NP +companies NNS I-NP +, , O +meanwhile RB B-ADVP +, , O +are VBP B-VP +reporting VBG I-VP +improved VBN B-NP +earnings NNS I-NP +. . O + +Bolstered VBN B-VP +by IN B-PP +strong JJ B-NP +performances NNS I-NP +by IN B-PP +its PRP$ B-NP +psychiatric JJ I-NP +hospitals NNS I-NP +, , O +National NNP B-NP +Medical NNP I-NP +Enterprises NNPS I-NP +Inc. NNP I-NP +, , O +Los NNP B-NP +Angeles NNP I-NP +, , O +reported VBD B-VP +net JJ B-NP +income NN I-NP +of IN B-PP +$ $ B-NP +50 CD I-NP +million CD I-NP +, , O +or CC O +65 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +for IN B-PP +the DT B-NP +first JJ I-NP +quarter NN I-NP +ended VBN B-VP +Aug. NNP B-NP +31 CD I-NP +, , O +up IN B-ADVP +from IN B-PP +$ $ B-NP +41 CD I-NP +million CD I-NP +, , O +or CC O +56 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Humana NNP B-NP +Inc. NNP I-NP +, , O +Louisville NNP B-NP +, , O +Ky. NNP B-NP +, , O +also RB B-ADVP +reported VBD B-VP +favorable JJ B-NP +results NNS I-NP +, , O +with IN B-PP +net JJ B-NP +income NN I-NP +of IN B-PP +$ $ B-NP +66.7 CD I-NP +million CD I-NP +, , O +or CC O +66 CD B-NP +cents NNS I-NP +, , O +in IN B-PP +the DT B-NP +fourth JJ I-NP +quarter NN I-NP +ended VBN B-VP +Aug. NNP B-NP +31 CD I-NP +, , O +up IN B-ADVP +from IN B-PP +$ $ B-NP +58.2 CD I-NP +million CD I-NP +, , O +or CC O +59 CD B-NP +cents NNS I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Analysts NNS B-NP +say VBP B-VP +the DT B-NP +handful NN I-NP +of IN B-PP +hospital NN B-NP +companies NNS I-NP +that WDT B-NP +are VBP B-VP +still RB I-VP +publicly RB I-VP +traded VBN I-VP +are VBP B-VP +benefiting VBG I-VP +from IN B-PP +several JJ B-NP +trends NNS I-NP +. . O + +Most JJS B-ADJP +important JJ I-ADJP +, , O +hospital NN B-NP +admission NN I-NP +rates NNS I-NP +are VBP B-VP +stabilizing VBG I-VP +after IN B-PP +several JJ B-NP +years NNS I-NP +of IN B-PP +decline NN B-NP +. . O + +Moreover RB B-ADVP +, , O +companies NNS B-NP +have VBP B-VP +sold VBN I-VP +off IN B-PRT +many NN B-NP +of IN B-PP +their PRP$ B-NP +smaller JJR I-NP +, , I-NP +less-profitable JJ I-NP +hospitals NNS I-NP +and CC O +have VBP B-VP +completed VBN I-VP +painful JJ B-NP +restructurings NNS I-NP +. . O + +Humana NNP B-NP +'s POS B-NP +revenues NNS I-NP +, , O +for IN B-PP +example NN B-NP +, , O +are VBP B-VP +being VBG I-VP +boosted VBN I-VP +by IN B-PP +large JJ B-NP +increases NNS I-NP +in IN B-PP +enrollments NNS B-NP +in IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +health NN I-NP +maintenance NN I-NP +organizations NNS I-NP +. . O + +Says VBZ B-VP +Todd NNP B-NP +Richter NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +with IN B-PP +Dean NNP B-NP +Witter NNP I-NP +Reynolds NNP I-NP +: : O +`` `` O +The DT B-NP +shakeout NN I-NP +in IN B-PP +the DT B-NP +publicly RB I-NP +traded VBN I-NP +companies NNS I-NP +is VBZ B-VP +over RB B-ADJP +. . O + +Initial JJ B-NP +claims NNS I-NP +for IN B-PP +regular JJ B-NP +state NN I-NP +unemployment NN I-NP +benefits NNS I-NP +rose VBD B-VP +to TO B-PP +a DT B-NP +seasonally RB I-NP +adjusted VBN I-NP +396,000 CD I-NP +during IN B-PP +the DT B-NP +week NN I-NP +ended VBN B-VP +Oct. NNP B-NP +7 CD I-NP +from IN B-PP +334,000 CD B-NP +the DT B-NP +previous JJ I-NP +week NN I-NP +, , O +the DT B-NP +Labor NNP I-NP +Department NNP I-NP +said VBD B-VP +. . O + +The DT B-NP +number NN I-NP +of IN B-PP +people NNS B-NP +receiving VBG B-VP +regular JJ B-NP +state NN I-NP +benefits NNS I-NP +in IN B-PP +the DT B-NP +week NN I-NP +ended VBN B-VP +Sept. NNP B-NP +30 CD I-NP +decreased VBD B-VP +to TO B-PP +a DT B-NP +seasonally RB I-NP +adjusted VBN I-NP +2,202,000 CD I-NP +, , O +or CC O +2.2 CD B-NP +% NN I-NP +of IN B-PP +those DT B-NP +covered VBN B-VP +by IN B-PP +unemployment NN B-NP +insurance NN I-NP +, , O +from IN B-PP +2,205,000 CD B-NP +the DT B-NP +previous JJ I-NP +week NN I-NP +, , O +when WRB B-ADVP +the DT B-NP +insured VBN I-NP +unemployment NN I-NP +rate NN I-NP +also RB B-ADVP +was VBD B-VP +2.2 CD B-NP +% NN I-NP +. . O + +Counting VBG B-PP +all DT B-NP +state NN I-NP +and CC I-NP +federal JJ I-NP +benefit NN I-NP +programs NNS I-NP +, , O +the DT B-NP +number NN I-NP +of IN B-PP +people NNS B-NP +receiving VBG B-VP +unemployment NN B-NP +benefits NNS I-NP +in IN B-PP +the DT B-NP +week NN I-NP +ended VBN B-VP +Sept. NNP B-NP +30 CD I-NP +fell VBD B-VP +to TO B-PP +1,809,300 CD B-NP +from IN B-PP +1,838,200 CD B-NP +a DT B-NP +week NN I-NP +earlier RBR B-ADVP +. . O + +These DT B-NP +figures NNS I-NP +are VBP B-VP +n't RB I-VP +seasonally RB I-VP +adjusted VBN I-VP +. . O + +A DT B-NP +Labor NNP I-NP +Department NNP I-NP +spokesman NN I-NP +said VBD B-VP +the DT B-NP +unusually RB I-NP +high JJ I-NP +number NN I-NP +of IN B-PP +initial JJ B-NP +claims NNS I-NP +for IN B-PP +state NN B-NP +unemployment NN I-NP +benefits NNS I-NP +reflects VBZ B-VP +the DT B-NP +impact NN I-NP +of IN B-PP +Hurricane NNP B-NP +Hugo NNP I-NP +on IN B-PP +southern JJ B-NP +states NNS I-NP +, , B-NP +particularly RB I-NP +North NNP B-NP +Carolina NNP I-NP +and CC O +South NNP B-NP +Carolina NNP I-NP +. . O + +The DT B-NP +figure NN I-NP +also RB B-ADVP +may MD B-VP +reflect VB I-VP +initial JJ B-NP +claims NNS I-NP +filed VBN B-VP +by IN B-PP +striking JJ B-NP +Nynex NNP I-NP +Corp. NNP I-NP +workers NNS I-NP +who WP B-NP +have VBP B-VP +become VBN I-VP +eligible JJ B-ADJP +for IN B-PP +unemployment NN B-NP +benefits NNS I-NP +, , O +the DT B-NP +official NN I-NP +said VBD B-VP +. . O + +Digital NNP B-NP +Equipment NNP I-NP +Corp. NNP I-NP +reported VBD B-VP +a DT B-NP +32 CD I-NP +% NN I-NP +decline NN I-NP +in IN B-PP +net JJ B-NP +income NN I-NP +on IN B-PP +a DT B-NP +modest JJ I-NP +revenue NN I-NP +gain NN I-NP +in IN B-PP +its PRP$ B-NP +fiscal JJ I-NP +first JJ I-NP +quarter NN I-NP +, , O +causing VBG B-VP +some DT B-NP +analysts NNS I-NP +to TO B-VP +predict VB I-VP +weaker JJR B-NP +results NNS I-NP +ahead RB B-ADVP +than IN B-SBAR +they PRP B-NP +had VBD B-VP +expected VBN I-VP +. . O + +Although IN B-SBAR +the DT B-NP +second-largest JJ I-NP +computer NN I-NP +maker NN I-NP +had VBD B-VP +prepared VBN I-VP +Wall NNP B-NP +Street NNP I-NP +for IN B-PP +a DT B-NP +poor JJ I-NP +quarter NN I-NP +, , O +analysts NNS B-NP +said VBD B-VP +they PRP B-NP +were VBD B-VP +troubled JJ I-VP +by IN B-PP +signs NNS B-NP +of IN B-PP +flat JJ B-NP +U.S. NNP I-NP +orders NNS I-NP +and CC O +a DT B-NP +slowdown NN I-NP +in IN B-PP +the DT B-NP +rate NN I-NP +of IN B-PP +gain NN B-NP +in IN B-PP +foreign JJ B-NP +orders NNS I-NP +. . O + +The DT B-NP +Maynard NNP I-NP +, , I-NP +Mass. NNP I-NP +, , I-NP +company NN I-NP +is VBZ B-VP +in IN B-PP +a DT B-NP +transition NN I-NP +in IN B-PP +which WDT B-NP +it PRP B-NP +is VBZ B-VP +trying VBG I-VP +to TO I-VP +reduce VB I-VP +its PRP$ B-NP +reliance NN I-NP +on IN B-PP +mid-range JJ B-NP +machines NNS I-NP +and CC O +establish VB B-VP +a DT B-NP +presence NN I-NP +in IN B-PP +workstations NNS B-NP +and CC I-NP +mainframes NNS I-NP +. . O + +Net JJ B-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +ended VBN B-VP +Sept. NNP B-NP +30 CD I-NP +fell VBD B-VP +to TO B-PP +$ $ B-NP +150.8 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.20 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +223 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.71 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Revenue NN B-NP +rose VBD B-VP +6.4 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +3.13 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +2.94 CD I-NP +billion CD I-NP +. . O + +Digital NNP B-NP +said VBD B-VP +a DT B-NP +shift NN I-NP +in IN B-PP +its PRP$ B-NP +product NN I-NP +mix NN I-NP +toward IN B-PP +low-end JJ B-NP +products NNS I-NP +and CC O +strong JJ B-NP +growth NN I-NP +in IN B-PP +workstation NN B-NP +sales NNS I-NP +yielded VBD B-VP +lower JJR B-NP +gross JJ I-NP +margins NNS I-NP +. . O + +A DT B-NP +spokesman NN I-NP +also RB B-ADVP +said VBD B-VP +margins NNS B-NP +for IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +service NN I-NP +business NN I-NP +narrowed VBD B-VP +somewhat RB B-ADVP +because IN B-PP +of IN I-PP +heavy JJ B-NP +investments NNS I-NP +made VBN B-VP +in IN B-PP +that DT B-NP +sector NN I-NP +. . O + +The DT B-NP +lack NN I-NP +of IN B-PP +a DT B-NP +strong JJ I-NP +product NN I-NP +at IN B-PP +the DT B-NP +high JJ I-NP +end NN I-NP +of IN B-PP +Digital NNP B-NP +'s POS B-NP +line NN I-NP +was VBD B-VP +a DT B-NP +significant JJ I-NP +drag NN I-NP +on IN B-PP +sales NNS B-NP +. . O + +Digital NNP B-NP +hopes VBZ B-VP +to TO I-VP +address VB I-VP +that IN B-NP +with IN B-PP +the DT B-NP +debut NN I-NP +of IN B-PP +its PRP$ B-NP +first JJ I-NP +mainframe-class JJ I-NP +computers NNS I-NP +next JJ B-NP +Tuesday NNP I-NP +. . O + +The DT B-NP +new JJ I-NP +line NN I-NP +is VBZ B-VP +aimed VBN I-VP +directly RB B-ADVP +at IN B-PP +International NNP B-NP +Business NNP I-NP +Machines NNP I-NP +Corp NNP I-NP +. . O + +`` `` O +Until IN B-SBAR +the DT B-NP +new JJ I-NP +mainframe NN I-NP +products NNS I-NP +kick VBP B-VP +in IN B-PRT +, , O +there EX B-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +a DT B-NP +lot NN I-NP +of IN B-PP +revenue NN B-NP +contribution NN I-NP +at IN B-PP +the DT B-NP +high JJ I-NP +end NN I-NP +, , O +and CC O +that DT B-NP +'s VBZ B-VP +hurt VBN I-VP +us PRP B-NP +, , O +'' '' O +said VBD B-VP +Mark NNP B-NP +Steinkrauss NNP I-NP +, , O +Digital NNP B-NP +'s POS B-NP +director NN I-NP +of IN B-PP +investor NN B-NP +relations NNS I-NP +. . O + +He PRP B-NP +said VBD B-VP +unfavorable JJ B-NP +currency NN I-NP +translations NNS I-NP +were VBD B-VP +also RB B-ADVP +a DT B-NP +factor NN I-NP +in IN B-PP +the DT B-NP +quarter NN I-NP +. . O + +DEC NNP B-NP +shares NNS I-NP +rose VBD B-VP +$ $ B-NP +1.375 CD I-NP +to TO B-PP +$ $ B-NP +89.75 CD I-NP +apiece RB I-NP +in IN B-PP +consolidated JJ B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +trading NN I-NP +yesterday NN B-NP +. . O + +But CC O +analysts NNS B-NP +said VBD B-VP +that IN B-SBAR +against IN B-PP +the DT B-NP +backdrop NN I-NP +of IN B-PP +a DT B-NP +nearly RB I-NP +40-point JJ I-NP +rise NN I-NP +in IN B-PP +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +, , O +that WDT B-NP +should MD B-VP +n't RB I-VP +necessarily RB I-VP +be VB I-VP +taken VBN I-VP +as IN B-PP +a DT B-NP +sign NN I-NP +of IN B-PP +great JJ B-NP +strength NN I-NP +. . O + +Some DT B-NP +cut VB B-VP +their PRP$ B-NP +earnings NNS I-NP +estimates NNS I-NP +for IN B-PP +the DT B-NP +stock NN I-NP +this DT B-NP +year NN I-NP +and CC O +predicted VBD B-VP +more JJR B-NP +efforts NNS I-NP +to TO B-VP +control VB I-VP +costs NNS B-NP +ahead RB B-ADVP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +the DT B-NP +next JJ I-NP +few JJ I-NP +quarters NNS I-NP +will MD B-VP +be VB I-VP +difficult JJ B-ADJP +, , O +'' '' O +said VBD B-VP +Steven NNP B-NP +Milunovich NNP I-NP +of IN B-PP +First NNP B-NP +Boston NNP I-NP +. . O + +`` `` O +Margins NNS B-NP +will MD B-VP +remain VB I-VP +under IN B-PP +pressure NN B-NP +, , O +and CC O +when WRB B-ADVP +the DT B-NP +new JJ I-NP +mainframe NN I-NP +does VBZ B-VP +ship NN I-VP +, , O +I PRP B-NP +'m VBP B-VP +not RB O +sure JJ B-ADJP +it PRP B-NP +will MD B-VP +be VB I-VP +a DT B-NP +big JJ I-NP +winner NN I-NP +. . O + +'' '' O +Mr. NNP B-NP +Milunovich NNP I-NP +said VBD B-VP +he PRP B-NP +was VBD B-VP +revising VBG I-VP +his PRP$ B-NP +estimate NN I-NP +for IN B-PP +DEC NNP B-NP +'s POS B-NP +current JJ I-NP +year NN I-NP +from IN B-PP +$ $ B-NP +8.20 CD I-NP +a DT B-NP +share NN I-NP +to TO B-PP +`` `` O +well RB B-ADVP +below IN B-PP +$ $ B-NP +8 CD I-NP +, , O +'' '' O +although IN B-SBAR +he PRP B-NP +has VBZ B-VP +n't RB I-VP +settled VBN I-VP +on IN B-PP +a DT B-NP +final JJ I-NP +number NN I-NP +. . O + +One CD B-NP +troubling JJ I-NP +aspect NN I-NP +of IN B-PP +DEC NNP B-NP +'s POS B-NP +results NNS I-NP +, , O +analysts NNS B-NP +said VBD B-VP +, , O +was VBD B-VP +its PRP$ B-NP +performance NN I-NP +in IN B-PP +Europe NNP B-NP +. . O + +DEC NNP B-NP +said VBD B-VP +its PRP$ B-NP +overseas JJ I-NP +business NN I-NP +, , O +which WDT B-NP +now RB B-ADVP +accounts VBZ B-VP +for IN B-PP +more JJR B-NP +than IN I-NP +half NN I-NP +of IN B-PP +sales NNS B-NP +, , O +improved VBN B-VP +in IN B-PP +the DT B-NP +quarter NN I-NP +. . O + +It PRP B-NP +even RB B-ADVP +took VBD B-VP +the DT B-NP +unusually RB I-NP +frank JJ I-NP +step NN I-NP +of IN B-PP +telling VBG B-VP +analysts NNS B-NP +in IN B-PP +a DT B-NP +morning NN I-NP +conference NN I-NP +call NN I-NP +that IN B-SBAR +orders NNS B-NP +in IN B-PP +Europe NNP B-NP +were VBD B-VP +up IN B-ADVP +in IN B-PP +`` `` O +double JJ B-NP +digits NNS I-NP +'' '' O +in IN B-PP +foreign-currency NN B-NP +terms NNS I-NP +. . O + +That DT B-NP +gain NN I-NP +probably RB B-ADVP +translated VBD B-VP +into IN B-PP +about IN B-NP +5 NN I-NP +% NN I-NP +to TO I-NP +7 CD I-NP +% NN I-NP +in IN B-PP +dollar NN B-NP +terms NNS I-NP +, , O +well RB B-ADVP +below IN B-PP +recent JJ B-NP +quarters NNS I-NP +' POS B-NP +gains NNS I-NP +of IN B-PP +above IN B-NP +20 CD I-NP +% NN I-NP +, , O +reckons VBZ B-VP +Jay NNP B-NP +Stevens NNP I-NP +of IN B-PP +Dean NNP B-NP +Witter NNP I-NP +Reynolds NNP I-NP +. . O + +`` `` O +That DT B-NP +was VBD B-VP +a DT B-NP +disappointment NN I-NP +'' '' O +and CC O +a DT B-NP +sign NN I-NP +of IN B-PP +overall JJ B-NP +computer-market JJ I-NP +softness NN I-NP +in IN B-PP +Europe NNP B-NP +, , O +Mr. NNP B-NP +Stevens NNP I-NP +said VBD B-VP +. . O + +Marc NNP B-NP +Schulman NNP I-NP +, , O +with IN B-PP +UBS NNP B-NP +Securities NNP I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +, , O +dropped VBD B-VP +his PRP$ B-NP +estimate NN I-NP +of IN B-PP +DEC NNP B-NP +'s POS B-NP +full-year JJ I-NP +net JJ I-NP +to TO B-PP +$ $ B-NP +6.80 CD I-NP +a DT B-NP +share NN I-NP +from IN B-PP +$ $ B-NP +8 CD I-NP +. . O + +Although IN B-SBAR +overall JJ B-NP +revenues NNS I-NP +were VBD B-VP +stronger JJR B-ADJP +, , O +Mr. NNP B-NP +Schulman NNP I-NP +said VBD B-VP +, , O +DEC NNP B-NP +`` `` O +drew VBD B-VP +down RB B-ADVP +its PRP$ B-NP +European JJ I-NP +backlog NN I-NP +'' '' O +and CC O +had VBD B-VP +flat JJ B-NP +world-wide JJ I-NP +orders NNS I-NP +overall JJ B-ADVP +. . O + +`` `` O +The DT B-NP +bottom NN I-NP +line NN I-NP +is VBZ B-VP +that IN B-SBAR +it PRP B-NP +'s VBZ B-VP +more JJR B-ADJP +hand NN I-ADJP +to TO I-ADJP +mouth NN I-ADJP +than IN B-SBAR +it PRP B-NP +has VBZ B-VP +been VBN I-VP +before RB B-ADVP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +Mr. NNP B-NP +Schulman NNP I-NP +said VBD B-VP +he PRP B-NP +believes VBZ B-VP +that IN B-SBAR +the DT B-NP +roll-out NN I-NP +of IN B-PP +DEC NNP B-NP +'s POS B-NP +new JJ I-NP +mainframe NN I-NP +will MD B-VP +`` `` O +occur VB B-VP +somewhat RB B-ADVP +more RBR I-ADVP +leisurely JJ I-ADVP +'' '' O +than IN B-SBAR +many NN B-NP +of IN B-PP +his PRP$ B-NP +investment NN I-NP +colleagues NNS I-NP +expect VBP B-VP +. . O + +He PRP B-NP +said VBD B-VP +current JJ B-NP +expectations NNS I-NP +are VBP B-VP +for IN B-SBAR +an DT B-NP +entry NN I-NP +level NN I-NP +machine NN I-NP +to TO B-VP +be VB I-VP +shipped VBN I-VP +in IN B-PP +December NNP B-NP +, , O +with IN B-SBAR +all DT B-NP +of IN B-PP +the DT B-NP +more RBR I-NP +sophisticated JJ I-NP +versions NNS I-NP +out IN B-ADVP +by IN B-PP +June NNP B-NP +. . O + +For IN B-PP +reasons NNS B-NP +he PRP B-NP +would MD B-VP +n't RB I-VP +elaborate VB I-VP +on IN B-PP +, , O +he PRP B-NP +said VBD B-VP +he PRP B-NP +'s VBZ B-VP +sure JJ B-ADJP +that DT B-NP +schedule NN I-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +met VBN I-VP +, , O +meaning NN B-VP +less JJR B-NP +profit NN I-NP +impact NN I-NP +from IN B-PP +the DT B-NP +product NN I-NP +for IN B-PP +DEC NNP B-NP +in IN B-PP +the DT B-NP +next JJ I-NP +few JJ I-NP +quarters NNS I-NP +. . O + +John NNP B-NP +R. NNP I-NP +Wilke NNP I-NP +contributed VBD B-VP +to TO B-PP +this DT B-NP +article NN I-NP +. . O + +Colgate NNP B-NP +Palmolive NNP I-NP +Co. NNP I-NP +reported VBD B-VP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +rose VBD B-VP +27 CD B-NP +% NN I-NP +, , O +bolstered VBN B-VP +by IN B-PP +strong JJ B-NP +sales NNS I-NP +in IN B-PP +its PRP$ B-NP +Latin NNP I-NP +American JJ I-NP +business NN I-NP +and CC O +surprisingly RB B-NP +healthy JJ I-NP +profits NNS I-NP +from IN B-PP +U.S. NNP B-NP +operations NNS I-NP +. . O + +Colgate NNP B-NP +said VBD B-VP +net JJ B-NP +income NN I-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +76.7 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.06 CD I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +sales NNS B-NP +that WDT B-NP +increased VBD B-VP +6 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +1.3 CD I-NP +billion CD I-NP +. . O + +In IN B-PP +the DT B-NP +year-earlier JJ I-NP +period NN I-NP +, , O +Colgate NNP B-NP +posted VBD B-VP +net JJ B-NP +income NN I-NP +of IN B-PP +$ $ B-NP +60.2 CD I-NP +million CD I-NP +, , O +or CC O +88 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +Last JJ B-NP +year NN I-NP +'s POS B-NP +results NNS I-NP +included VBD B-VP +earnings NNS B-NP +from IN B-PP +discontinued VBN B-NP +operations NNS I-NP +of IN B-PP +$ $ B-NP +13.1 CD I-NP +million CD I-NP +, , O +or CC O +19 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +Reuben NNP B-NP +Mark NNP I-NP +, , O +chairman NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +Colgate NNP B-NP +, , O +said VBD B-VP +earnings NNS B-NP +growth NN I-NP +was VBD B-VP +fueled VBN I-VP +by IN B-PP +strong JJ B-NP +sales NNS I-NP +in IN B-PP +Latin NNP B-NP +America NNP I-NP +, , O +the DT B-NP +Far NNP I-NP +East NNP I-NP +and CC O +Europe NNP B-NP +. . O + +Results NNS B-NP +were VBD B-VP +also RB I-VP +bolstered VBN I-VP +by IN B-PP +`` `` O +a DT B-NP +very RB I-NP +meaningful JJ I-NP +increase NN I-NP +in IN B-PP +operating VBG B-NP +profit NN I-NP +at IN B-PP +Colgate NNP B-NP +'s POS B-NP +U.S. NNP I-NP +business NN I-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +Operating NN B-NP +profit NN I-NP +at IN B-PP +Colgate NNP B-NP +'s POS B-NP +U.S. NNP I-NP +household NN I-NP +products NNS I-NP +and CC I-NP +personal JJ I-NP +care NN I-NP +businesses NNS I-NP +, , O +which WDT B-NP +include VBP B-VP +such JJ B-NP +well-known JJ I-NP +brands NNS I-NP +as IN B-PP +Colgate NNP B-NP +toothpaste NN I-NP +and CC O +Fab NNP B-NP +laundry NN I-NP +detergent NN I-NP +, , O +jumped VBD B-VP +more JJR B-NP +than IN I-NP +40 CD I-NP +% NN I-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +. . O + +Mr. NNP B-NP +Mark NNP I-NP +attributed VBD B-VP +the DT B-NP +improvement NN I-NP +to TO B-PP +cost VB B-NP +savings NNS I-NP +achieved VBN B-VP +by IN B-PP +consolidating VBG B-VP +manufacturing NN B-NP +operations NNS I-NP +, , O +blending VBG B-VP +together RB B-ADVP +two CD B-NP +sales NNS I-NP +organizations NNS I-NP +and CC O +more RBR B-VP +carefully RB I-VP +focusing VBG I-VP +the DT B-NP +company NN I-NP +'s POS B-NP +promotional JJ I-NP +activities NNS I-NP +. . O + +`` `` O +We PRP B-NP +'ve VBP B-VP +done VBN I-VP +a DT B-NP +lot NN I-NP +to TO B-VP +improve VB I-VP +-LRB- ( O +U.S. NNP O +. . O +-RRB- ) O +results NNS B-NP +and CC O +a DT B-NP +lot NN I-NP +more JJR I-NP +will MD B-VP +be VB I-VP +done VBN I-VP +, , O +'' '' O +Mr. NNP B-NP +Mark NNP I-NP +said VBD B-VP +. . O + +`` `` O +Improving VBG B-NP +profitability NN I-NP +of IN B-PP +U.S. NNP B-NP +operations NNS I-NP +is VBZ B-VP +an DT B-NP +extremely RB I-NP +high JJ I-NP +priority NN I-NP +in IN B-PP +the DT B-NP +company NN I-NP +. . O +'' '' O + +Colgate NNP B-NP +'s POS B-NP +results NNS I-NP +were VBD B-VP +at IN B-PP +the DT B-NP +high JJ I-NP +end NN I-NP +of IN B-PP +the DT B-NP +range NN I-NP +of IN B-PP +analysts NNS B-NP +' POS B-NP +forecasts NNS I-NP +. . O + +The DT B-NP +scope NN I-NP +of IN B-PP +the DT B-NP +improvement NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +business NN I-NP +caught VBD B-VP +some DT B-NP +analysts NNS I-NP +by IN B-PP +surprise NN B-NP +. . O + +The DT B-NP +company NN I-NP +'s POS B-NP +domestic JJ I-NP +business NN I-NP +, , O +especially RB B-NP +its PRP$ I-NP +household NN I-NP +products NNS I-NP +division NN I-NP +, , O +has VBZ B-VP +performed VBN I-VP +poorly RB B-ADVP +for IN B-PP +years NNS B-NP +. . O + +Analysts NNS B-NP +say VBP B-VP +the DT B-NP +earnings NNS I-NP +improvement NN I-NP +came VBD B-VP +from IN B-PP +cutting VBG B-VP +costs NNS B-NP +rather RB B-CONJP +than IN I-CONJP +increasing VBG B-VP +sales NNS B-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +net JJ B-NP +increased VBN B-VP +14 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +217.5 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +3.09 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Sales NNS B-NP +rose VBD B-VP +7 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +3.8 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +company NN I-NP +earned VBD B-VP +$ $ B-NP +191.1 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +2.79 CD I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +the DT B-NP +year-earlier JJ I-NP +period NN I-NP +. . O + +Colgate NNP B-NP +'s POS B-NP +1988 CD I-NP +net JJ I-NP +income NN I-NP +included VBD B-VP +$ $ B-NP +40.1 CD I-NP +million CD I-NP +, , O +or CC O +59 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +discontinued VBN B-NP +operations NNS I-NP +. . O + +Colgate NNP B-NP +sold VBD B-VP +its PRP$ B-NP +hospital NN I-NP +supply NN I-NP +and CC I-NP +home NN I-NP +health NN I-NP +care NN I-NP +business NN I-NP +last JJ B-NP +year NN I-NP +. . O + +Separately RB B-ADVP +, , O +Colgate NNP B-NP +Wednesday NNP B-NP +finalized VBD B-VP +an DT B-NP +agreement NN I-NP +with IN B-PP +MacroChem NNP B-NP +Corp. NNP I-NP +, , O +a DT B-NP +tiny JJ I-NP +dental JJ I-NP +products NNS I-NP +and CC I-NP +pharmaceutical JJ I-NP +concern NN I-NP +based VBN B-VP +in IN B-PP +Billerica NNP B-NP +, , O +Mass. NNP B-NP +, , O +to TO B-VP +market VB I-VP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +four CD B-NP +of IN B-PP +MacroChem NNP B-NP +'s POS B-NP +FDA-approved JJ I-NP +dental JJ I-NP +products NNS I-NP +. . O + +The DT B-NP +products NNS I-NP +-- : O +sealants NNS B-NP +and CC O +bonding VBG B-NP +materials NNS I-NP +used VBN B-VP +by IN B-PP +dentists NNS B-NP +-- : O +all DT O +contain VB B-VP +fluoride NN B-NP +that WDT B-NP +is VBZ B-VP +released VBN I-VP +over IN B-PP +time NN B-NP +. . O + +The DT B-NP +move NN I-NP +is VBZ B-VP +part NN B-NP +of IN B-PP +a DT B-NP +drive NN I-NP +to TO B-VP +increase VB I-VP +Colgate NNP B-NP +'s POS B-NP +business NN I-NP +with IN B-PP +dentists NNS B-NP +, , O +a DT B-NP +company NN I-NP +spokeswoman NN I-NP +said VBD B-VP +. . O + +Terms NNS B-NP +of IN B-PP +the DT B-NP +agreement NN I-NP +were VBD B-VP +n't RB I-VP +given VBN I-VP +. . O + +USACafes NNP B-NP +Limited NNP I-NP +Partnership NNP I-NP +said VBD B-VP +it PRP B-NP +completed VBD B-VP +the DT B-NP +sale NN I-NP +of IN B-PP +its PRP$ B-NP +Bonanza NNP I-NP +restaurant NN I-NP +franchise NN I-NP +system NN I-NP +to TO B-PP +a DT B-NP +subsidiary NN I-NP +of IN B-PP +Metromedia NNP B-NP +Co. NNP I-NP +for IN B-PP +$ $ B-NP +71 CD I-NP +million CD I-NP +in IN B-PP +cash NN B-NP +. . O + +USACafes NNP B-NP +, , O +which WDT B-NP +is VBZ B-VP +nearly RB B-ADJP +half-owned JJ I-ADJP +by IN B-PP +Sam NNP B-NP +and CC I-NP +Charles NNP I-NP +Wyly NNP I-NP +of IN B-PP +Dallas NNP B-NP +, , O +said VBD B-VP +it PRP B-NP +will MD B-VP +distribute VB I-VP +proceeds NNS B-NP +from IN B-PP +the DT B-NP +sale NN I-NP +to TO B-PP +unit NN B-NP +holders NNS I-NP +as IN B-PP +a DT B-NP +liquidating VBG I-NP +dividend NN I-NP +as RB B-ADVP +soon RB I-ADVP +as IN B-PP +possible JJ B-ADJP +. . O + +The DT B-NP +Bonanza NNP I-NP +franchise NN I-NP +system NN I-NP +, , O +which WDT B-NP +generates VBZ B-VP +about RB B-NP +$ $ I-NP +600 CD I-NP +million CD I-NP +in IN B-PP +sales NNS B-NP +annually RB B-ADVP +, , O +represented VBD B-VP +substantially RB B-NP +all DT I-NP +of IN B-PP +the DT B-NP +partnership NN I-NP +'s POS B-NP +assets NNS I-NP +. . O + +The DT B-NP +sale NN I-NP +of IN B-PP +the DT B-NP +system NN I-NP +has VBZ B-VP +been VBN I-VP +challenged VBN I-VP +in IN B-PP +a DT B-NP +class-action JJ I-NP +suit NN I-NP +on IN B-PP +behalf NN B-NP +of IN B-PP +unit NN B-NP +holders NNS I-NP +filed VBD B-VP +last JJ B-NP +week NN I-NP +in IN B-PP +a DT B-NP +Delaware NNP I-NP +court NN I-NP +, , O +USACafes NNP B-NP +said VBD B-VP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +it PRP B-NP +believes VBZ B-VP +the DT B-NP +suit NN I-NP +is VBZ B-VP +without IN B-PP +merit NN B-NP +. . O + +American NNP B-NP +Telephone NNP I-NP +& CC I-NP +Telegraph NNP I-NP +Co. NNP I-NP +unveiled VBD B-VP +a DT B-NP +sweetened VBN I-NP +pension NN I-NP +and CC O +early-retirement NN B-NP +program NN I-NP +for IN B-PP +management NN B-NP +that IN B-NP +it PRP B-NP +hopes VBZ B-VP +will MD B-VP +enable VB I-VP +it PRP B-NP +to TO B-VP +save VB I-VP +$ $ B-NP +450 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +next JJ I-NP +year NN I-NP +. . O + +AT&T NNP B-NP +also RB B-ADVP +said VBD B-VP +net JJ B-NP +income NN I-NP +rose VBD B-VP +19 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +. . O + +AT&T NNP B-NP +said VBD B-VP +its PRP$ B-NP +amended VBN I-NP +pension NN I-NP +program NN I-NP +will MD B-VP +nearly RB I-VP +double JJ I-VP +to TO B-PP +34,000 CD B-NP +the DT B-NP +number NN I-NP +of IN B-PP +managers NNS B-NP +eligible JJ B-ADJP +to TO B-VP +retire VB I-VP +with IN B-PP +immediate JJ B-NP +pension NN I-NP +payments NNS I-NP +. . O + +AT&T NNP B-NP +said VBD B-VP +that WDT B-SBAR +based VBD B-PP +on IN B-PP +studies NNS B-NP +of IN B-PP +other JJ B-NP +companies NNS I-NP +that WDT B-NP +have VBP B-VP +offered VBN I-VP +retirement NN B-NP +plans NNS I-NP +, , O +it PRP B-NP +expects VBZ B-VP +about IN B-NP +one-third NN I-NP +of IN B-PP +its PRP$ B-NP +eligible JJ I-NP +managers NNS I-NP +to TO B-VP +retire VB I-VP +under IN B-PP +the DT B-NP +new JJ I-NP +program NN I-NP +. . O + +AT&T NNP B-NP +said VBD B-VP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +grew VBD B-VP +, , O +despite IN B-NP +stiff JJ B-NP +competition NN I-NP +in IN B-PP +all DT B-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +markets NNS I-NP +. . O + +Net JJ B-NP +income NN I-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +699 CD I-NP +million CD I-NP +, , O +or CC O +65 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +the DT B-NP +year-earlier JJ I-NP +$ $ I-NP +587 CD I-NP +million CD I-NP +, , O +or CC O +55 NN B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +Revenue NN B-NP +edged VBD B-VP +up IN B-PRT +to TO B-PP +$ $ B-NP +8.9 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +8.81 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +latest JJS I-NP +period NN I-NP +'s POS B-NP +net NN I-NP +was VBD B-VP +reduced VBN I-VP +$ $ B-NP +102 CD I-NP +million CD I-NP +, , O +or CC O +nine CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +for IN B-PP +a DT B-NP +change NN I-NP +in IN B-PP +depreciation NN B-NP +method NN I-NP +and CC O +concurrent JJ B-NP +changes NNS I-NP +in IN B-PP +estimates NNS B-NP +of IN B-PP +depreciable JJ B-NP +lives NNS I-NP +and CC O +net JJ B-NP +salvage NN I-NP +for IN B-PP +certain JJ B-NP +telecommunications NNS I-NP +equipment NN I-NP +. . O + +The DT B-NP +results NNS I-NP +roughly RB B-VP +matched VBN I-VP +estimates NNS B-NP +of IN B-PP +securities NNS B-NP +analysts NNS I-NP +, , O +who WP B-NP +were VBD B-VP +encouraged VBN I-VP +by IN B-PP +AT&T NNP B-NP +increasing VBG B-VP +its PRP$ B-NP +operating NN I-NP +margin NN I-NP +to TO B-PP +13 CD B-NP +% NN I-NP +from IN B-PP +11 CD B-NP +% NN I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +, , O +because IN B-PP +of IN I-PP +continued VBN B-NP +cost-cutting JJ I-NP +efforts NNS I-NP +. . O + +Sales NNS B-NP +of IN B-PP +long-distance JJ B-NP +services NNS I-NP +, , O +an DT B-NP +extremely RB I-NP +competitive JJ I-NP +market NN I-NP +, , O +rose VBD B-VP +6.4 CD B-NP +% NN I-NP +. . O + +But CC O +the DT B-NP +growth NN I-NP +was VBD B-VP +partly RB I-VP +offset VB I-VP +by IN B-PP +lower JJR B-NP +equipment NN I-NP +sales NNS I-NP +and CC I-NP +rentals NNS I-NP +and CC O +price NN B-NP +cuts NNS I-NP +on IN B-PP +some DT B-NP +products NNS I-NP +. . O + +Under IN B-PP +the DT B-NP +amended VBN I-NP +pension NN I-NP +program NN I-NP +, , O +AT&T NNP B-NP +managers NNS I-NP +who WP B-NP +have VBP B-VP +at IN B-NP +least JJS I-NP +five CD I-NP +years NNS I-NP +of IN B-PP +service NN B-NP +will MD B-VP +have VB I-VP +five CD B-NP +years NNS I-NP +added VBD B-VP +to TO B-PP +their PRP$ B-NP +age NN I-NP +and CC I-NP +length NN I-NP +of IN B-PP +service NN B-NP +for IN B-PP +pension NN B-NP +purposes NNS I-NP +. . O + +Managers NNS B-NP +who WP B-NP +retire VBP B-VP +Dec. NNP B-NP +30 CD I-NP +will MD B-VP +have VB I-VP +an DT B-NP +additional JJ I-NP +15 CD I-NP +% NN I-NP +added VBD B-VP +to TO B-PP +their PRP$ B-NP +monthly JJ I-NP +pension NN I-NP +for IN B-PP +as RB B-NP +long RB I-NP +as IN I-NP +five CD I-NP +years NNS I-NP +or CC O +age NN B-NP +65 CD I-NP +, , O +whichever WDT B-NP +comes VBZ B-VP +earlier RBR B-ADVP +. . O + +An DT B-NP +AT&T NNP I-NP +spokeswoman NN I-NP +said VBD B-VP +the DT B-NP +company NN I-NP +would MD B-VP +likely RB I-VP +replace VB I-VP +about IN B-NP +one-third NN I-NP +of IN B-PP +its PRP$ B-NP +managers NNS I-NP +who WP B-NP +choose VBP B-VP +to TO I-VP +retire VB I-VP +with IN B-PP +new JJ B-NP +employees NNS I-NP +. . O + +Analysts NNS B-NP +hailed VBD B-VP +the DT B-NP +sweetened VBN I-NP +pension NN I-NP +package NN I-NP +, , O +which WDT B-NP +they PRP B-NP +said VBD B-VP +had VBN B-VP +been VBN I-VP +the DT B-NP +subject NN I-NP +of IN B-PP +rumors NNS B-NP +for IN B-PP +several JJ B-NP +months NNS I-NP +. . O + +`` `` O +This DT B-NP +tells VBZ B-VP +you PRP B-NP +AT&T NNP B-NP +is VBZ B-VP +serious JJ B-ADJP +about IN B-PP +continuing VBG B-VP +to TO I-VP +manage VB I-VP +their PRP$ B-NP +cost NN I-NP +structure NN I-NP +and CC O +is VBZ B-VP +committed VBN I-VP +to TO B-PP +20%-a-year VB B-NP +earnings NNS I-NP +growth NN I-NP +, , O +'' '' O +said VBD B-VP +Jack NNP B-NP +Grubman NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +with IN B-PP +PaineWebber NNP B-NP +Inc NNP I-NP +. . O + +But CC O +other JJ B-NP +analysts NNS I-NP +expressed VBD B-VP +disappointment NN B-NP +that IN B-SBAR +the DT B-NP +cost-cutting JJ I-NP +move NN I-NP +wo MD B-VP +n't RB I-VP +result VB I-VP +in IN B-PP +even RB B-NP +greater JJR I-NP +earnings NNS I-NP +growth NN I-NP +. . O + +`` `` O +This DT B-NP +is VBZ B-VP +a DT B-NP +good JJ I-NP +move NN I-NP +, , O +but CC O +it PRP B-NP +only RB B-ADVP +gets VBZ B-VP +you PRP B-NP +to TO B-PP +where WRB B-ADVP +people NNS B-NP +'s POS B-NP +expectations NNS I-NP +already RB B-ADVP +are VBP B-VP +, , O +'' '' O +in IN B-PP +terms NNS B-NP +of IN B-PP +earnings NNS B-NP +growth NN I-NP +, , O +said VBD B-VP +Joel NNP B-NP +D. NNP I-NP +Gross NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +with IN B-PP +Donaldson NNP B-NP +, , I-NP +Lufkin NNP I-NP +& CC I-NP +Jenrette NNP I-NP +. . O + +Mr. NNP B-NP +Gross NNP I-NP +said VBD B-VP +he PRP B-NP +had VBD B-VP +hoped VBN I-VP +that IN B-SBAR +a DT B-NP +cost NN I-NP +savings NNS I-NP +of IN B-PP +$ $ B-NP +450 CD I-NP +million CD I-NP +would MD B-VP +result VB I-VP +in IN B-PP +even RB B-NP +greater JJR I-NP +growth NN I-NP +than IN B-PP +the DT B-NP +20 CD I-NP +% NN I-NP +annual JJ I-NP +earnings NNS I-NP +increase NN I-NP +AT&T NNP B-NP +has VBZ B-VP +told VBN I-VP +analysts NNS B-NP +it PRP B-NP +expects VBZ B-VP +in IN B-PP +the DT B-NP +future NN I-NP +. . O + +AT&T NNP B-NP +said VBD B-VP +the DT B-NP +special JJ I-NP +retirement NN I-NP +option NN I-NP +will MD B-VP +increase VB I-VP +fourth-quarter JJ B-NP +expenses NNS I-NP +. . O + +But CC O +the DT B-NP +company NN I-NP +said VBD B-VP +the DT B-NP +amount NN I-NP +ca MD B-VP +n't RB I-VP +be VB I-VP +determined VBN I-VP +until IN B-SBAR +it PRP B-NP +knows VBZ B-VP +how WRB B-NP +many JJ I-NP +managers NNS I-NP +opt VBP B-VP +to TO I-VP +retire VB I-VP +. . O + +AT&T NNP B-NP +said VBD B-VP +the DT B-NP +expense NN I-NP +increase NN I-NP +will MD B-VP +be VB I-VP +largely RB I-VP +offset VB I-VP +by IN B-PP +a DT B-NP +gain NN I-NP +from IN B-PP +its PRP$ B-NP +previously RB I-NP +announced VBD I-NP +plan NN I-NP +to TO B-VP +swap VB I-VP +its PRP$ B-NP +holdings NNS I-NP +in IN B-PP +Ing NNP B-NP +. . I-NP +C. NNP I-NP +Olivetti NNP I-NP +& CC I-NP +Co. NNP I-NP +for IN B-PP +shares NNS B-NP +in IN B-PP +Cie NNP B-NP +. . I-NP +Industriali NNP I-NP +Riunite NNP I-NP +, , O +an DT B-NP +Italian JJ I-NP +holding NN I-NP +company NN I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +AT&T NNP B-NP +said VBD B-VP +net JJ B-NP +income NN I-NP +was VBD B-VP +$ $ B-NP +1.99 CD I-NP +billion CD I-NP +, , O +or CC O +$ $ B-NP +1.85 CD I-NP +a DT B-NP +share NN I-NP +, , O +up IN B-ADVP +19 CD B-NP +% NN I-NP +from IN B-PP +$ $ B-NP +1.67 CD I-NP +billion CD I-NP +, , O +or CC O +$ $ B-NP +1.56 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Revenue NN B-NP +gained VBD B-VP +3.1 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +26.81 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +26 CD I-NP +billion CD I-NP +. . O + +In IN B-PP +composite JJ B-NP +trading NN I-NP +yesterday NN B-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +, , O +AT&T NNP B-NP +shares NNS I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +43.375 CD I-NP +, , O +up IN B-ADVP +87.5 CD B-NP +cents NNS I-NP +. . O + +When WRB B-ADVP +it PRP B-NP +comes VBZ B-VP +to TO B-PP +buying VBG B-VP +and CC I-VP +selling VBG I-VP +shares NNS B-NP +, , O +Westridge NNP B-NP +Capital NNP I-NP +Management NNP I-NP +Inc. NNP I-NP +takes VBZ B-VP +a DT B-NP +back JJ I-NP +seat NN I-NP +to TO B-PP +no DT B-NP +one CD I-NP +. . O + +Every DT B-NP +dollar NN I-NP +'s POS B-NP +worth NN I-NP +of IN B-PP +stock NN B-NP +in IN B-PP +the DT B-NP +Los NNP I-NP +Angeles NNP I-NP +money NN I-NP +manager NN I-NP +'s POS B-NP +portfolio NN I-NP +is VBZ B-VP +traded VBN I-VP +seven CD B-NP +or CC I-NP +eight CD I-NP +times VBZ I-NP +a DT B-NP +year NN I-NP +, , O +the DT B-NP +firm NN I-NP +estimates NNS B-VP +. . O + +That DT B-NP +makes VBZ B-VP +it PRP B-NP +the DT B-NP +most RBS I-NP +active JJ I-NP +trader NN I-NP +among IN B-PP +all PDT O +the DT B-NP +nation NN I-NP +'s POS B-NP +investment NN I-NP +advisers NNS I-NP +, , O +according VBG B-PP +to TO B-PP +Securities NNPS B-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +filings NNS I-NP +. . O + +But CC O +wait VB B-VP +a DT B-NP +second NN I-NP +. . O + +Westridge NNP B-NP +Capital NNP I-NP +is VBZ B-VP +an DT B-NP +index NN I-NP +fund NN I-NP +-- : O +the DT B-NP +type NN I-NP +of IN B-PP +stolid JJ B-NP +long-term JJ I-NP +investor NN I-NP +whose WP$ B-NP +goal NN I-NP +is VBZ B-VP +to TO B-VP +be VB I-VP +nothing NN B-NP +more JJR B-ADJP +than IN B-PP +average NN B-ADJP +. . O + +Westridge NNP B-NP +Capital NNP I-NP +'s POS B-NP +frenetic JJ I-NP +trading NN I-NP +reflects VBZ B-VP +the DT B-NP +changes NNS I-NP +sweeping VBG B-VP +through IN B-PP +the DT B-NP +previously RB I-NP +sleepy JJ I-NP +world NN I-NP +of IN B-PP +indexing NN B-NP +. . O + +Indexing NN B-NP +for IN B-PP +the DT B-NP +most RBS I-NP +part NN I-NP +has VBZ B-VP +involved VBN I-VP +simply RB I-VP +buying VBG I-VP +and CC O +then RB B-VP +holding VBG I-VP +stocks NNS B-NP +in IN B-PP +the DT B-NP +correct JJ I-NP +mix NN I-NP +to TO B-VP +mirror VB I-VP +a DT B-NP +stock NN I-NP +market NN I-NP +barometer NN I-NP +, , O +such JJ B-PP +as IN I-PP +Standard NNP B-NP +& CC O +Poor NNP B-NP +'s POS B-NP +500-stock JJ I-NP +index NN I-NP +, , O +and CC O +match VB B-VP +its PRP$ B-NP +performance NN I-NP +. . O + +Institutional JJ B-NP +investors NNS I-NP +have VBP B-VP +poured VBN I-VP +$ $ B-NP +210 CD I-NP +billion CD I-NP +into IN B-PP +stock NN B-NP +and CC I-NP +bond NN I-NP +indexing NN I-NP +as IN B-PP +a DT B-NP +cheap JJ I-NP +and CC I-NP +easy JJ I-NP +form NN I-NP +of IN B-PP +investment NN B-NP +management NN I-NP +that WDT B-NP +promises VBZ B-VP +to TO I-VP +post VB I-VP +average JJ B-NP +market NN I-NP +returns NNS I-NP +. . O + +These DT B-NP +big JJ I-NP +investors NNS I-NP +have VBP B-VP +flocked VBN I-VP +to TO B-PP +indexing NN B-NP +because IN B-SBAR +relatively RB B-NP +few JJ I-NP +`` `` I-NP +active JJ I-NP +'' '' I-NP +stock NN I-NP +pickers NNS I-NP +have VBP B-VP +been VBN I-VP +able JJ B-ADJP +to TO B-VP +consistently RB I-VP +match VB I-VP +the DT B-NP +returns NNS I-NP +of IN B-PP +the DT B-NP +S&P NNP I-NP +500 CD I-NP +or CC O +other JJ B-NP +bellwethers NNS I-NP +, , O +much RB B-VP +less JJR I-VP +beat VB I-VP +it PRP B-NP +. . O + +And CC O +the DT B-NP +fees NNS I-NP +investors NNS B-NP +pay VBP B-VP +for IN B-PP +indexing NN B-NP +run NN B-VP +a DT B-NP +few JJ I-NP +pennies NNS I-NP +for IN B-PP +each DT B-NP +$ $ I-NP +100 CD I-NP +of IN B-PP +assets NNS B-NP +-- : O +a DT B-NP +fraction NN I-NP +of IN B-PP +the DT B-NP +cost NN I-NP +of IN B-PP +active JJ B-NP +managers NNS I-NP +. . O + +That DT B-NP +'s VBZ B-VP +because IN B-SBAR +computers NNS B-NP +do VBP B-VP +most RBS B-NP +of IN B-PP +the DT B-NP +work NN I-NP +, , O +and CC O +low JJ B-NP +trading NN I-NP +activity NN I-NP +keeps VBZ B-VP +a DT B-NP +lid NN I-NP +on IN B-PP +commission NN B-NP +costs NNS I-NP +. . O + +But CC O +today NN B-NP +, , O +indexing NN B-NP +is VBZ B-VP +moving VBG I-VP +from IN B-PP +a DT B-NP +passive JJ I-NP +investment NN I-NP +strategy NN I-NP +to TO B-PP +an DT B-NP +increasingly RB I-NP +active JJ I-NP +one CD I-NP +. . O + +Because IN B-SBAR +index-fund JJ B-NP +managers NNS I-NP +are VBP B-VP +no RB B-ADVP +longer RB I-ADVP +satisfied VBN B-ADJP +with IN B-PP +merely RB B-ADVP +being VBG B-VP +average JJ B-ADJP +, , O +they PRP B-NP +have VBP B-VP +developed VBN I-VP +`` `` B-NP +enhanced VBN I-NP +'' '' I-NP +indexing NN I-NP +strategies NNS I-NP +that WDT B-NP +are VBP B-VP +intended VBN I-VP +to TO I-VP +outperform VB I-VP +the DT B-NP +market NN I-NP +as RB B-NP +much JJ I-NP +as IN I-NP +three CD I-NP +percentage NN I-NP +points NNS I-NP +. . O + +`` `` O +Indexing NN B-NP +has VBZ B-VP +been VBN I-VP +the DT B-NP +most RBS I-NP +single JJ I-NP +successful JJ I-NP +investment NN I-NP +concept NN I-NP +in IN B-PP +the DT B-NP +last JJ I-NP +decade NN I-NP +, , O +but CC O +the DT B-NP +index NN I-NP +money NN I-NP +has VBZ B-VP +been VBN I-VP +just RB I-VP +sort NN I-VP +of IN I-VP +sitting VBG I-VP +there EX B-ADVP +, , O +'' '' O +says VBZ B-VP +Seth NNP B-NP +M. NNP I-NP +Lynn NNP I-NP +, , O +president NN B-NP +of IN B-PP +Axe NNP B-NP +Core NNP I-NP +Investors NNP I-NP +Inc. NNP I-NP +, , O +an DT B-NP +indexer NN I-NP +based VBN B-VP +in IN B-PP +Tarrytown NNP B-NP +, , O +N.Y NNP B-NP +. . O + +`` `` O +Now RB B-ADVP +the DT B-NP +interest NN I-NP +is VBZ B-VP +in IN B-PP +what WP B-NP +else RB I-NP +can MD O +I PRP B-NP +do VB B-VP +with IN B-PP +that DT B-NP +money NN I-NP +. . O +'' '' O + +Among IN B-PP +the DT B-NP +souped-up JJ I-NP +indexing NN I-NP +strategies NNS I-NP +: : O +Indexed JJ B-NP +portfolios NNS I-NP +can MD B-VP +be VB I-VP +built VBN I-VP +around IN B-PP +thousands NNS B-NP +of IN B-PP +stocks NNS B-NP +, , O +or CC O +just RB B-NP +a DT I-NP +few JJ I-NP +dozen NN I-NP +, , O +rather RB B-PP +than IN I-PP +being VBG B-VP +restricted VBN I-VP +to TO B-PP +the DT B-NP +S&P NNP I-NP +500 CD I-NP +companies NNS I-NP +. . O + +They PRP B-NP +can MD B-VP +ignore VB I-VP +the DT B-NP +S&P NNP I-NP +500 CD I-NP +stocks NNS I-NP +altogether RB B-ADVP +and CC O +focus NN B-VP +on IN B-PP +particular JJ B-NP +types NNS I-NP +of IN B-PP +stocks NNS B-NP +, , O +such JJ B-PP +as IN I-PP +smaller JJR B-NP +companies NNS I-NP +, , O +those DT B-NP +paying VBG I-NP +high JJ I-NP +dividends NNS I-NP +or CC O +companies NNS B-NP +in IN B-PP +a DT B-NP +particular JJ I-NP +industry NN I-NP +, , I-NP +state NN I-NP +or CC I-NP +country NN I-NP +. . O + +With IN B-PP +today NN B-NP +'s POS B-NP +computer-driven JJ I-NP +program NN I-NP +trading NN I-NP +techniques NNS I-NP +, , O +index NN B-NP +funds NNS I-NP +can MD B-VP +trade VB I-VP +back RB B-ADVP +and CC I-ADVP +forth RB I-ADVP +between IN B-PP +stock-index NN B-NP +futures NNS I-NP +and CC O +the DT B-NP +actual JJ I-NP +stocks NNS I-NP +making VBG B-VP +up IN B-PRT +indexes NNS B-NP +such JJ B-PP +as IN I-PP +the DT B-NP +S&P NNP I-NP +500 CD I-NP +. . O + +Futures NNS B-NP +and CC I-NP +options NNS I-NP +also RB B-ADVP +make VBP B-VP +it PRP B-NP +possible JJ B-ADJP +to TO B-VP +build VB I-VP +`` `` B-NP +synthetic JJ I-NP +'' '' I-NP +index NN I-NP +funds NNS I-NP +that WDT B-NP +do VBP B-VP +n't RB I-VP +actually RB I-VP +own VB I-VP +a DT B-NP +single JJ I-NP +share NN I-NP +of IN B-PP +stock NN B-NP +, , O +but CC O +can MD B-VP +produce VB I-VP +returns NNS B-NP +that WDT B-NP +match VBP B-VP +or CC I-VP +exceed VB I-VP +the DT B-NP +broad JJ I-NP +stock NN I-NP +market NN I-NP +. . O + +One CD B-NP +reason NN I-NP +for IN B-PP +these DT B-NP +hybrids NNS I-NP +is VBZ B-VP +that DT O +indexing NN B-NP +'s POS B-NP +rapid JJ I-NP +growth NN I-NP +is VBZ B-VP +slowing VBG I-VP +, , O +particularly RB B-ADVP +for IN B-PP +those DT B-NP +`` `` I-NP +plain JJ I-NP +vanilla NN I-NP +'' '' I-NP +funds VBZ I-NP +that DT B-NP +mirror NN B-VP +the DT B-NP +S&P NNP I-NP +500 CD I-NP +. . O + +`` `` O +There EX B-NP +is VBZ B-VP +n't RB O +a DT B-NP +boatload NN I-NP +-LCB- ( O +of IN B-PP +big JJ B-NP +investors NNS I-NP +-RCB- ) O +out IN B-ADVP +there EX I-ADVP +still RB B-ADVP +waiting VBG B-VP +to TO I-VP +get VB I-VP +into IN B-PP +indexing NN B-NP +, , O +'' '' O +says VBZ B-VP +P. NNP B-NP +James NNP I-NP +Kartalia NNP I-NP +, , O +vice NN B-NP +president NN I-NP +of IN B-PP +ANB NNP B-NP +Investment NNP I-NP +Management NNP I-NP +Co. NNP I-NP +, , O +Chicago NNP B-NP +, , O +which WDT B-NP +offers VBZ B-VP +both DT B-NP +indexing NN B-NP +and CC O +active JJ B-NP +management NN I-NP +services NNS I-NP +. . O + +-LRB- ( O +After IN B-PP +tripling VBG B-VP +in IN B-PP +size NN B-NP +in IN B-PP +the DT B-NP +past JJ I-NP +five CD I-NP +years NNS I-NP +, , O +index NN B-NP +funds NNS I-NP +now RB B-ADVP +hold VBP B-VP +about IN B-NP +20 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +stock NN I-NP +owned VBN B-VP +by IN B-PP +pension NN B-NP +funds NNS I-NP +. . O +-RRB- ) O + +A DT B-NP +further JJ I-NP +problem NN I-NP +is VBZ B-VP +razor-thin JJ B-NP +profits NNS I-NP +. . O + +Plain-vanilla JJ B-NP +funds NNS I-NP +have VBP B-VP +become VBN I-VP +so RB B-ADJP +commonplace JJ I-ADJP +that IN B-SBAR +fees NNS B-NP +they PRP B-NP +can MD B-VP +charge VB I-VP +have NN B-VP +plunged VBN I-VP +to TO B-PP +almost JJ B-NP +nothing NN I-NP +, , O +and CC O +in IN B-PP +some DT B-NP +cases NNS I-NP +are VBP B-VP +just RB B-NP +that DT I-NP +. . O + +To TO B-VP +land VB I-VP +customers NNS B-NP +for IN B-PP +their PRP$ B-NP +well-paying JJ I-NP +stock NN I-NP +custodial JJ I-NP +business NN I-NP +, , O +big JJ B-NP +banks NNS I-NP +sometimes RB B-ADVP +will MD B-VP +throw VB I-VP +in IN B-PRT +basic JJ B-NP +indexing NN I-NP +services NNS I-NP +for IN B-PP +free JJ B-ADJP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +like IN B-PP +getting VBG B-VP +a DT B-NP +free JJ I-NP +toaster NN I-NP +when WRB B-ADVP +you PRP B-NP +open VB B-VP +an DT B-NP +account NN I-NP +, , O +'' '' O +says VBZ B-VP +Axe NNP B-NP +Core NNP I-NP +'s POS B-NP +Mr. NNP I-NP +Lynn NNP I-NP +. . O + +As IN B-PP +a DT B-NP +result NN I-NP +, , O +indexers NNS B-NP +have VBP B-VP +been VBN I-VP +looking VBG I-VP +for IN B-PP +ways NNS B-NP +to TO B-VP +give VB I-VP +investors NNS B-NP +something NN B-NP +more JJR B-ADJP +than IN B-PP +the DT B-NP +average NN I-NP +for IN B-PP +their PRP$ B-NP +money NN I-NP +. . O + +And CC O +many JJ B-NP +have NN B-VP +been VBN I-VP +successful JJ B-ADJP +, , O +as IN B-PP +in IN B-PP +the DT B-NP +case NN I-NP +of IN B-PP +the DT B-NP +index NN I-NP +fund NN I-NP +operated VBN B-VP +by IN B-PP +hyper-trader NN B-NP +Westridge NNP I-NP +Capital NNP I-NP +. . O + +Westridge NNP B-NP +Capital NNP I-NP +has VBZ B-VP +used VBN I-VP +enhanced VBN B-NP +indexing NN I-NP +techniques NNS I-NP +to TO B-VP +beat VB I-VP +the DT B-NP +S&P NNP I-NP +500 CD I-NP +'s POS B-NP +returns NNS I-NP +by IN B-PP +2.5 CD B-NP +to TO I-NP +3 CD I-NP +percentage NN I-NP +points NNS I-NP +over IN B-PP +the DT B-NP +past JJ I-NP +four CD I-NP +years NNS I-NP +, , O +with IN B-PP +the DT B-NP +same JJ I-NP +risk NN I-NP +level NN I-NP +as IN B-PP +holding VBG B-VP +the DT B-NP +S&P NNP I-NP +500 CD I-NP +stocks NNS I-NP +, , O +according VBG B-PP +to TO B-PP +James NNP B-NP +Carder NNP I-NP +, , O +the DT B-NP +firm NN I-NP +'s POS B-NP +president NN I-NP +. . O + +Strategies NNS B-NP +vary VBP B-VP +for IN B-PP +Westridge NNP B-NP +Capital NNP I-NP +, , O +which WDT B-NP +has VBZ B-VP +$ $ B-NP +300 CD I-NP +million CD I-NP +under IN B-PP +management NN B-NP +. . O + +The DT B-NP +firm NN I-NP +sometimes RB B-ADVP +buys VBZ B-VP +S&P NNP B-NP +500 CD I-NP +futures NNS I-NP +when WRB B-ADVP +they PRP B-NP +are VBP B-VP +selling VBG I-VP +at IN B-PP +a DT B-NP +discount NN I-NP +to TO B-PP +the DT B-NP +actual JJ I-NP +stocks NNS I-NP +, , O +and CC O +will MD B-VP +switch VB I-VP +back RB B-ADVP +and CC I-ADVP +forth RB I-ADVP +between IN B-PP +stocks NNS B-NP +and CC O +stock-index NN B-NP +futures NNS I-NP +to TO B-VP +take VB I-VP +advantages NNS B-NP +of IN B-PP +any DT B-NP +momentary JJ I-NP +price NN I-NP +discrepencies NNS I-NP +. . O + +Mr. NNP B-NP +Carder NNP I-NP +also RB B-ADVP +goes VBZ B-VP +through IN B-PP +periods NNS B-NP +when WRB B-ADVP +he PRP B-NP +buys VBZ B-VP +stocks NNS B-NP +in IN B-PP +conjunction NN B-NP +with IN B-PP +options NNS B-NP +to TO B-VP +boost VB I-VP +returns NNS B-NP +and CC O +protect VB B-VP +against IN B-PP +declines NNS B-NP +. . O + +And CC O +in IN B-PP +some DT B-NP +months NNS I-NP +, , O +he PRP B-NP +buys VBZ B-VP +stock-index NN B-NP +futures NNS I-NP +and CC B-NP +not RB I-NP +stocks VBZ B-NP +at IN B-ADVP +all DT I-ADVP +. . O + +`` `` O +By IN B-PP +their PRP$ B-NP +nature NN I-NP +, , O +our PRP$ B-NP +trades NNS I-NP +are VBP B-VP +very RB B-ADJP +short-term JJ I-ADJP +and CC B-VP +are VBP I-VP +going VBG B-VP +to TO I-VP +create VB I-VP +high JJ B-NP +turnover NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Carder NNP I-NP +adds VBZ B-VP +. . O + +`` `` O +The DT O +more JJR O +turnover NN O +, , O +the DT O +better JJR O +for IN B-PP +our PRP$ B-NP +clients NNS I-NP +. . O +'' '' O + +Big JJ B-NP +indexer NN I-NP +Bankers NNP I-NP +Trust NNP I-NP +Co. NNP I-NP +also RB B-ADVP +uses VBZ B-VP +futures NNS B-NP +in IN B-PP +a DT B-NP +strategy NN I-NP +that IN B-NP +on IN B-PP +average NN B-NP +has VBZ B-VP +added VBN I-VP +one CD B-NP +percentage NN I-NP +point NN I-NP +to TO B-PP +its PRP$ B-NP +enhanced VBN I-NP +fund NN I-NP +'s POS B-NP +returns NNS I-NP +. . O + +J. NNP B-NP +Thomas NNP I-NP +Allen NNP I-NP +, , O +president NN B-NP +of IN B-PP +Pittsburgh-based JJ B-NP +Advanced NNP I-NP +Investment NNP I-NP +Management NNP I-NP +Inc. NNP I-NP +, , O +agrees VBZ B-VP +it PRP B-NP +'s VBZ B-VP +a DT B-NP +good JJ I-NP +idea NN I-NP +to TO B-VP +jump VB I-VP +between IN B-PP +the DT B-NP +S&P NNP I-NP +500 CD I-NP +stocks NNS I-NP +and CC I-NP +futures NNS I-NP +. . O + +`` `` O +You PRP B-NP +'re VBP B-VP +buying VBG I-VP +the DT B-NP +S&P NNP I-NP +, , O +and CC O +you PRP B-NP +always RB B-ADVP +want VBP B-VP +to TO I-VP +hold VB I-VP +the DT B-NP +cheapest JJS I-NP +form NN I-NP +of IN B-PP +it PRP B-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +But CC O +some DT B-NP +indexers NNS I-NP +make VBP B-VP +little JJ B-NP +or CC I-NP +no DT I-NP +use NN I-NP +of IN B-PP +futures NNS B-NP +, , O +saying VBG B-VP +that IN B-SBAR +these DT B-NP +instruments NNS I-NP +present NN B-VP +added VBD B-NP +risks NNS I-NP +for IN B-PP +investors NNS B-NP +. . O + +`` `` O +If IN B-SBAR +the DT B-NP +futures NNS I-NP +markets NNS B-NP +have VBP B-VP +a DT B-NP +problem NN I-NP +, , O +then RB O +those DT B-NP +products NNS I-NP +could MD B-VP +have VB I-VP +a DT B-NP +problem NN I-NP +, , O +'' '' O +says VBZ B-VP +John NNP B-NP +Zumbrunn NNP I-NP +, , O +managing VBG B-NP +director NN I-NP +of IN B-PP +Prudential NNP B-NP +Insurance NNP I-NP +Co. NNP I-NP +of IN B-PP +America NNP B-NP +'s POS B-NP +Investment NNP I-NP +Index NNP I-NP +Technologies NNP I-NP +Inc. NNP I-NP +unit NN I-NP +. . O + +Prudential NNP B-NP +currently RB B-ADVP +is VBZ B-VP +seeking VBG I-VP +approval NN B-NP +to TO B-VP +offer VB I-VP +a DT B-NP +new JJ I-NP +fund NN I-NP +offering VBG B-VP +a DT B-NP +return NN I-NP +equal JJ B-ADJP +to TO B-PP +the DT B-NP +S&P NNP I-NP +500 CD I-NP +index NN I-NP +plus CC B-NP +5\/100 CD B-NP +of IN B-PP +a DT B-NP +percentage NN I-NP +point NN I-NP +. . O + +An DT B-NP +added VBN I-NP +feature NN I-NP +is VBZ B-VP +that IN B-SBAR +the DT B-NP +slighty NN I-NP +improved VBD I-NP +return NN I-NP +would MD B-VP +be VB I-VP +guaranteed VBN I-VP +by IN B-PP +Prudential NNP B-NP +. . O + +There EX B-NP +are VBP B-VP +many JJ B-NP +other JJ I-NP +strategies NNS I-NP +to TO B-VP +bolster VB I-VP +the DT B-NP +returns NNS I-NP +of IN B-PP +index NN B-NP +funds NNS I-NP +. . O + +They PRP B-NP +include VBP B-VP +: : O + +LIMITED JJ B-NP +RISK NN I-NP +FUNDS NNS I-NP +: : O + +These DT B-NP +guarantee NN B-VP +protection NN B-NP +against IN B-PP +stock NN B-NP +market NN I-NP +declines NNS I-NP +while IN B-PP +still RB B-ADVP +passing VBG B-VP +along IN B-ADVP +most RBS B-NP +gains NNS I-NP +. . O + +Here RB B-ADVP +a DT B-NP +fund NN I-NP +may MD B-VP +promise VB I-VP +to TO I-VP +pay VB I-VP +back RB B-PRT +, , O +say VBP B-INTJ +, , O +$ $ B-NP +95 CD I-NP +of IN B-PP +every DT B-NP +$ $ I-NP +100 CD I-NP +invested VBN B-VP +for IN B-PP +a DT B-NP +year NN I-NP +, , O +even RB B-SBAR +if IN I-SBAR +the DT B-NP +market NN I-NP +goes VBZ B-VP +much RB B-ADVP +lower JJR I-ADVP +. . O + +The DT B-NP +fund NN I-NP +could MD B-VP +invest VB I-VP +$ $ B-NP +87 CD I-NP +for IN B-PP +one CD B-NP +year NN I-NP +in IN B-PP +Treasury NNP B-NP +bills NNS I-NP +yielding VBG B-VP +8 CD B-NP +% NN I-NP +to TO B-VP +return VB I-VP +the DT B-NP +guaranteed VBN I-NP +$ $ I-NP +95 CD I-NP +. . O + +That DT B-NP +leaves VBZ B-VP +$ $ B-NP +13 CD I-NP +, , O +which WDT B-NP +could MD B-VP +be VB I-VP +used VBN I-VP +to TO B-VP +buy VB I-VP +S&P NNP B-NP +500 CD I-NP +options NNS I-NP +that WDT B-NP +will MD B-VP +nearly RB I-VP +match VB I-VP +any DT B-NP +gain NN I-NP +in IN B-PP +the DT B-NP +S&P NNP I-NP +index NN I-NP +. . O + +MANAGER NN B-NP +REPLICATION NN I-NP +FUNDS NNS I-NP +: : O + +Say VB B-VP +a DT B-NP +big JJ I-NP +investor NN I-NP +is VBZ B-VP +interested JJ B-ADJP +in IN B-PP +growth NN B-NP +stocks NNS I-NP +. . O + +Instead RB B-PP +of IN I-PP +hiring VBG B-VP +one CD B-NP +of IN B-PP +the DT B-NP +many JJ I-NP +active JJ I-NP +managers NNS I-NP +specializing VBG B-VP +in IN B-PP +growth NN B-NP +stocks NNS I-NP +, , O +indexers NNS B-NP +can MD B-VP +design VB I-VP +a DT B-NP +portfolio NN I-NP +around IN B-PP +the DT B-NP +same JJ I-NP +stocks NNS I-NP +; : O +the DT B-NP +portfolio NN I-NP +will MD B-VP +be VB I-VP +maintained VBN I-VP +by IN B-PP +computer NN B-NP +, , O +reducing VBG B-VP +both DT B-NP +fees NNS B-NP +and CC O +, , O +in IN B-PP +theory NN B-NP +, , O +risk NN B-NP +-LRB- ( O +because IN B-PP +of IN I-PP +the DT B-NP +large JJ I-NP +number NN I-NP +of IN B-PP +stocks NNS B-NP +-RRB- ) O +. . O + +`` `` O +We PRP B-NP +see VBP B-VP +a DT B-NP +lot NN I-NP +of IN B-PP +interest NN B-NP +in IN B-PP +those DT B-NP +kind NN I-NP +of IN B-PP +things NNS B-NP +, , O +'' '' O +says VBZ B-VP +Frank NNP B-NP +Salerno NNP I-NP +, , O +a DT B-NP +vice NN I-NP +president NN I-NP +of IN B-PP +Bankers NNP B-NP +Trust NNP I-NP +. . O + +`` `` O +People NNS B-NP +comfortable JJ B-ADJP +with IN B-PP +the DT B-NP +passive JJ I-NP +approach NN I-NP +are VBP B-VP +using VBG I-VP +them PRP B-NP +for IN B-PP +other JJ B-NP +strategies NNS I-NP +. . O +'' '' O + +TILT NN B-NP +FUNDS NNS I-NP +: : O + +This DT B-NP +is VBZ B-VP +an DT B-NP +index NN I-NP +fund NN I-NP +with IN B-PP +a DT B-NP +bet NN I-NP +. . O + +Instead RB B-PP +of IN I-PP +replicating VBG B-VP +the DT B-NP +S&P NNP I-NP +500 CD I-NP +or CC O +some DT B-NP +other JJ I-NP +index NN I-NP +exactly RB B-ADVP +, , O +some DT B-NP +stocks NNS I-NP +are VBP B-VP +overweighted VBN I-VP +or CC I-VP +underweighted VBN I-VP +in IN B-PP +the DT B-NP +portfolio NN I-NP +. . O + +One CD B-NP +simple JJ I-NP +approach NN I-NP +is VBZ B-VP +to TO B-VP +exclude VB I-VP +S&P NNP B-NP +500 CD I-NP +companies NNS I-NP +considered VBD B-VP +bankruptcy NN B-NP +candidates NNS I-NP +; : O +this DT B-NP +can MD B-VP +avoid VB I-VP +weak JJ B-NP +sisters NNS I-NP +, , O +but CC O +also RB B-ADVP +can MD B-VP +hurt VB I-VP +when WRB B-ADVP +a DT B-NP +company NN I-NP +like IN B-PP +Chrysler NNP B-NP +Corp. NNP I-NP +rebounds VBZ B-VP +. . O + +Another DT B-NP +approach NN I-NP +: : O +An DT B-NP +investor NN I-NP +with IN B-PP +$ $ B-NP +100 CD I-NP +million CD I-NP +might MD B-VP +use VB I-VP +$ $ B-NP +75 CD I-NP +million CD I-NP +to TO B-VP +buy VB I-VP +the DT B-NP +S&P NNP I-NP +500 CD I-NP +index NN I-NP +and CC O +spend VB B-VP +the DT B-NP +other JJ I-NP +$ $ I-NP +25 CD I-NP +million CD I-NP +on IN B-PP +a DT B-NP +favorite JJ I-NP +group NN I-NP +of IN B-PP +stocks NNS B-NP +. . O + +SPECIALIZED JJ B-NP +FUNDS NNS I-NP +: : O + +Indexes NNS B-NP +can MD B-VP +be VB I-VP +constructed VBN I-VP +to TO B-VP +serve VB I-VP +social JJ B-NP +goals NNS I-NP +, , O +such JJ B-PP +as IN I-PP +eliminating VBG B-VP +the DT B-NP +stocks NNS I-NP +of IN B-PP +companies NNS B-NP +doing VBG B-VP +business NN B-NP +in IN B-PP +South NNP B-NP +Africa NNP I-NP +. . O + +Other JJ B-NP +funds NNS I-NP +have VBP B-VP +been VBN I-VP +designed VBN I-VP +to TO I-VP +concentrate VB I-VP +on IN B-PP +stocks NNS B-NP +in IN B-PP +a DT B-NP +geographic JJ I-NP +area NN I-NP +in IN B-SBAR +order NN O +to TO B-VP +encourage VB I-VP +local JJ B-NP +investment NN I-NP +. . O + +Pennsylvania NNP B-NP +State NNP I-NP +Employees NNP I-NP +Retirement NNP I-NP +System NNP I-NP +, , O +for IN B-PP +example NN B-NP +, , O +has VBZ B-VP +about RB B-NP +$ $ I-NP +130 CD I-NP +million CD I-NP +invested VBN B-VP +in IN B-PP +a DT B-NP +fund NN I-NP +of IN B-PP +244 CD B-NP +companies NNS I-NP +that WDT B-NP +are VBP B-VP +either DT B-ADVP +Pennsylvania-based JJ B-ADJP +or CC O +have VBP B-VP +25 CD B-NP +% NN I-NP +of IN B-PP +their PRP$ B-NP +work NN I-NP +forces NNS I-NP +in IN B-PP +the DT B-NP +state NN I-NP +. . O + +Short JJ B-NP +interest NN I-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +declined VBD B-VP +for IN B-PP +the DT B-NP +second JJ I-NP +consecutive JJ I-NP +month NN I-NP +, , O +this DT B-NP +time NN I-NP +4.2 CD B-NP +% NN I-NP +, , O +while IN B-SBAR +the DT B-NP +American NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +reported VBD B-VP +its PRP$ B-NP +third JJ I-NP +consecutive JJ I-NP +record NN I-NP +month NN I-NP +of IN B-PP +short JJ B-NP +interest NN I-NP +. . O + +The DT B-NP +Big NNP I-NP +Board NNP I-NP +reported VBD B-VP +that IN O +short JJ B-NP +interest NN I-NP +dropped VBD B-VP +to TO B-PP +523,920,214 CD B-NP +shares NNS I-NP +as IN B-PP +of IN B-PP +Oct. NNP B-NP +13 CD I-NP +from IN B-PP +547,347,585 CD B-NP +shares NNS I-NP +in IN B-PP +mid-September NNP B-NP +. . O + +Amex NNP B-NP +short JJ I-NP +interest NN I-NP +climbed VBD B-VP +3 CD B-NP +% NN I-NP +to TO B-PP +53,496,665 CD B-NP +shares NNS I-NP +from IN B-PP +51,911,566 CD B-NP +shares NNS I-NP +. . O + +For IN B-PP +the DT B-NP +year-earlier JJ I-NP +month NN I-NP +, , O +the DT B-NP +Big NNP I-NP +Board NNP I-NP +reported VBD B-VP +461,539,056 CD B-NP +shares NNS I-NP +, , O +indicating VBG B-VP +a DT B-NP +13.5 CD I-NP +% NN I-NP +year-to-year JJ I-NP +rise NN I-NP +, , O +while IN B-SBAR +the DT B-NP +Amex NNP I-NP +reported VBD B-VP +36,015,194 CD B-NP +shares NNS I-NP +, , O +a DT B-NP +48 CD I-NP +% NN I-NP +leap NN I-NP +. . O + +Amex NNP B-NP +short JJ I-NP +interest NN I-NP +has VBZ B-VP +been VBN I-VP +heading VBG I-VP +upward RB B-ADVP +since IN B-PP +mid-December NNP B-NP +, , O +with IN B-PP +increases NNS B-NP +in IN B-PP +each DT B-NP +month NN I-NP +since IN B-PP +then RB B-ADVP +except IN B-PP +at IN B-PP +mid-July NN B-NP +. . O + +Traders NNS B-NP +who WP B-NP +sell VBP B-VP +short JJ B-ADVP +borrow VB B-VP +stock NN B-NP +and CC O +sell VB B-VP +it PRP B-NP +, , O +betting VBG B-VP +that IN B-SBAR +the DT B-NP +stock NN I-NP +'s POS B-NP +price NN I-NP +will MD B-VP +decline VB I-VP +and CC O +that IN B-SBAR +they PRP B-NP +can MD B-VP +buy VB I-VP +the DT B-NP +shares NNS I-NP +back RB B-ADVP +later RB B-ADVP +at IN B-PP +a DT B-NP +lower JJR I-NP +price NN I-NP +for IN B-PP +return NN B-NP +to TO B-PP +the DT B-NP +lender NN I-NP +. . O + +Short JJ B-NP +interest NN I-NP +is VBZ B-VP +the DT B-NP +number NN I-NP +of IN B-PP +shares NNS B-NP +that WDT B-NP +have VBP B-VP +n't RB I-VP +yet RB I-VP +been VBN I-VP +purchased VBN I-VP +for IN B-PP +return NN B-NP +to TO B-PP +lenders NNS B-NP +. . O + +Although IN B-SBAR +a DT B-NP +substantial JJ I-NP +short JJ I-NP +position NN I-NP +reflects VBZ B-VP +heavy JJ B-NP +speculation NN I-NP +that IN B-SBAR +a DT B-NP +stock NN I-NP +'s POS B-NP +price NN I-NP +will MD B-VP +decline VB I-VP +, , O +some DT B-NP +investors NNS I-NP +consider VBP B-VP +an DT B-NP +increase NN I-NP +in IN B-PP +short JJ B-NP +interest NN I-NP +bullish JJ B-ADJP +because IN B-SBAR +the DT B-NP +borrowed VBN I-NP +shares NNS I-NP +eventually RB B-ADVP +must MD B-VP +be VB I-VP +bought VBN I-VP +back RB B-ADVP +. . O + +Fluctuation NN B-NP +in IN B-PP +short JJ B-NP +interest NN I-NP +of IN B-PP +certain JJ B-NP +stocks NNS I-NP +also RB B-ADVP +may MD B-VP +be VB I-VP +caused VBN I-VP +partly RB B-ADVP +by IN B-PP +arbitraging VBG B-NP +. . O + +The DT B-NP +figures NNS I-NP +occasionally RB B-ADVP +include VBP B-VP +incomplete JJ B-NP +transactions NNS I-NP +in IN B-PP +restricted VBN B-NP +stock NN I-NP +. . O + +The DT B-NP +level NN I-NP +of IN B-PP +negative JJ B-NP +sentiment NN I-NP +measured VBN B-VP +by IN B-PP +the DT B-NP +Big NNP I-NP +Board NNP I-NP +short JJ B-NP +interest NN I-NP +ratio NN I-NP +slipped VBD B-VP +to TO B-PP +3.36 CD B-NP +from IN B-PP +last JJ B-NP +month NN I-NP +'s POS B-NP +3.38 CD I-NP +. . O + +The DT B-NP +ratio NN I-NP +is VBZ B-VP +the DT B-NP +number NN I-NP +of IN B-PP +trading NN B-NP +days NNS I-NP +, , O +at IN B-PP +the DT B-NP +exchange NN I-NP +'s POS B-NP +average JJ I-NP +trading NN I-NP +volume NN I-NP +, , O +that WDT B-NP +would MD B-VP +be VB I-VP +required VBN I-VP +to TO B-VP +convert VB I-VP +the DT B-NP +total JJ I-NP +short JJ I-NP +interest NN I-NP +position NN I-NP +. . O + +Some DT B-NP +analysts NNS I-NP +suggest VBP B-VP +, , O +however RB B-ADVP +, , O +that IN B-SBAR +the DT B-NP +ratio NN I-NP +has VBZ B-VP +weakened VBN I-VP +in IN B-PP +value NN B-NP +as IN B-PP +an DT B-NP +indicator NN I-NP +because IN B-SBAR +options NNS B-NP +and CC O +other JJ B-NP +products NNS I-NP +can MD B-VP +be VB I-VP +used VBN I-VP +to TO B-VP +hedge VB I-VP +short JJ B-NP +positions NNS I-NP +. . O + +Varity NNP B-NP +Corp. NNP I-NP +led VBD B-VP +the DT B-NP +Big NNP I-NP +Board NNP I-NP +list NN I-NP +of IN B-PP +largest JJS B-NP +short JJ I-NP +volumes NNS I-NP +with IN B-PP +12,822,563 CD B-NP +shares NNS I-NP +. . O + +Varity NNP B-NP +has VBZ B-VP +proposed VBN I-VP +to TO I-VP +acquire VB I-VP +K-H NNP B-NP +Corp. NNP I-NP +, , O +consisting VBG B-VP +of IN B-PP +the DT B-NP +auto NN I-NP +parts NNS I-NP +division NN I-NP +and CC O +some DT B-NP +debt NN I-NP +of IN B-PP +Fruehauf NNP B-NP +Corp. NNP I-NP +, , O +for IN B-PP +$ $ B-NP +577.3 CD I-NP +million CD I-NP +of IN B-PP +cash NN B-NP +and CC I-NP +securities NNS I-NP +. . O + +Chemical NNP B-NP +Waste NNP I-NP +Management NNP I-NP +posted VBD B-VP +the DT B-NP +biggest JJS I-NP +increase NN I-NP +in IN B-PP +short JJ B-NP +volume NN I-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +exchange NN I-NP +, , O +up IN B-ADVP +3,383,477 CD B-NP +shares NNS I-NP +to TO B-PP +5,267,238 CD B-NP +. . O + +Bristol-Myers NNP B-NP +Squibb NNP I-NP +Co. NNP I-NP +, , O +the DT B-NP +entity NN I-NP +formed VBN B-VP +from IN B-PP +the DT B-NP +recent JJ I-NP +acquisition NN I-NP +of IN B-PP +Squibb NNP B-NP +Corp. NNP I-NP +by IN B-PP +Bristol-Myers NNP B-NP +Co. NNP I-NP +, , O +logged VBD B-VP +the DT B-NP +largest JJS I-NP +volume NN I-NP +decline NN I-NP +, , O +7,592,988 CD B-NP +shares NNS I-NP +, , O +to TO B-PP +12,017,724 CD B-NP +. . O + +Short JJ B-NP +interest NN I-NP +in IN B-PP +International NNP B-NP +Business NNP I-NP +Machines NNP I-NP +Corp. NNP I-NP +plunged VBD B-VP +to TO B-PP +1,425,035 CD B-NP +shares NNS I-NP +from IN B-PP +2,387,226 CD B-NP +shares VBZ I-NP +a DT B-NP +month NN I-NP +earlier RBR B-ADVP +. . O + +Also RB B-ADVP +closely RB B-VP +watched VBD I-VP +is VBZ B-VP +Exxon NNP B-NP +Corp. NNP I-NP +, , O +where WRB B-ADVP +short JJ B-NP +interest NN I-NP +slid VBD B-VP +to TO B-PP +4,469,167 CD B-NP +shares NNS I-NP +from IN B-PP +5,088,774 CD B-NP +. . O + +On IN B-PP +a DT B-NP +percentage NN I-NP +basis NN I-NP +, , O +Germany NNP B-NP +Fund NNP I-NP +Inc. NNP I-NP +led VBD B-VP +the DT B-NP +gainers NNS I-NP +, , O +leaping VBG B-VP +to TO B-PP +67,972 CD B-NP +shares NNS I-NP +from IN B-PP +three CD B-NP +shares NNS I-NP +. . O + +TransCanada NNP B-NP +PipeLines NNP I-NP +Ltd. NNP I-NP +led VBD B-VP +the DT B-NP +percentage NN I-NP +decliners NNS I-NP +, , O +dropping VBG B-VP +to TO B-PP +59 CD B-NP +shares NNS I-NP +from IN B-PP +183,467 CD B-NP +. . O + +The DT B-NP +Amex NNP I-NP +short JJ I-NP +interest NN I-NP +volume NN I-NP +leader NN I-NP +again RB B-ADVP +was VBD B-VP +Texas NNP B-NP +Air NNP I-NP +Corp. NNP I-NP +, , O +rising VBG B-VP +to TO B-PP +3,820,634 CD B-NP +shares NNS I-NP +from IN B-PP +3,363,949 CD B-NP +. . O + +Bolar NNP B-NP +Pharmaceutical NNP I-NP +Co. NNP I-NP +posted VBD B-VP +the DT B-NP +largest JJS I-NP +volume NN I-NP +increase NN I-NP +, , O +552,302 CD B-NP +shares NNS I-NP +, , O +to TO B-PP +2,157,656 CD B-NP +. . O + +The DT B-NP +company NN I-NP +is VBZ B-VP +under IN B-PP +an DT B-NP +investigation NN I-NP +concerning VBG B-VP +procedures NNS B-NP +to TO B-VP +gain VB I-VP +Food NNP B-NP +and CC I-NP +Drug NNP I-NP +Administration NNP I-NP +approval NN I-NP +of IN B-PP +generic JJ B-NP +drugs NNS I-NP +. . O + +Bolar NNP B-NP +has VBZ B-VP +denied VBN I-VP +any DT B-NP +wrongdoing NN I-NP +. . O + +The DT B-NP +largest JJS I-NP +volume NN I-NP +drop NN I-NP +-- : O +down RB B-ADVP +445,645 CD B-NP +shares NNS I-NP +to TO B-PP +141,903 CD B-NP +-- : O +came VBD B-VP +in IN B-PP +shares NNS B-NP +represented VBN B-VP +by IN B-PP +B.A.T NNP B-NP +Industries NNP I-NP +PLC NNP I-NP +'s POS B-NP +American JJ I-NP +depositary NN I-NP +receipts NNS I-NP +. . O + +The DT B-NP +company NN I-NP +is VBZ B-VP +facing VBG I-VP +a DT B-NP +takeover NN I-NP +proposal NN I-NP +from IN B-PP +the DT B-NP +financier NN I-NP +Sir NNP B-NP +James NNP I-NP +Goldsmith NNP I-NP +. . O + +First NNP B-NP +Iberian NNP I-NP +Fund NNP I-NP +led VBD B-VP +the DT B-NP +percentage NN I-NP +increases NNS I-NP +, , O +rising VBG B-VP +to TO B-PP +73,100 CD B-NP +shares NNS I-NP +from IN B-PP +184 CD B-NP +. . O + +Nelson NNP B-NP +Holdings NNP I-NP +International NNP I-NP +Ltd. NNP I-NP +dropped VBD B-VP +the DT B-NP +most RBS I-NP +on IN B-PP +a DT B-NP +percentage NN I-NP +basis NN I-NP +, , O +to TO B-PP +1,000 CD B-NP +shares NNS I-NP +from IN B-PP +255,923 CD B-NP +. . O + +The DT B-NP +adjacent JJ I-NP +tables NNS I-NP +show VBP B-VP +the DT B-NP +Big NNP I-NP +Board NNP I-NP +and CC I-NP +Amex NNP I-NP +issues NNS I-NP +in IN B-PP +which WDT B-NP +a DT B-NP +short JJ I-NP +interest NN I-NP +position NN I-NP +of IN B-PP +at IN B-NP +least JJS I-NP +100,000 CD I-NP +shares NNS I-NP +existed VBD B-VP +as IN B-PP +of IN B-PP +mid-October NNP B-NP +or CC O +in IN B-PP +which WDT B-NP +there EX B-NP +was VBD B-VP +a DT B-NP +short JJ I-NP +position NN I-NP +change NN I-NP +of IN B-PP +at IN B-NP +least JJS I-NP +50,000 CD I-NP +shares NNS I-NP +since IN B-PP +mid-September NNP B-NP +. . O + +Your PRP$ B-NP +Oct. NNP I-NP +12 CD I-NP +editorial NN I-NP +`` `` O +Pitiful NNP B-NP +, , I-NP +Helpless NNP I-NP +Presidency NNP I-NP +? . O +'' '' O +correctly RB B-ADVP +states VBZ B-VP +that IN B-SBAR +I PRP B-NP +was VBD B-VP +critical JJ B-ADJP +of IN B-PP +the DT B-NP +Bush NNP I-NP +administration NN I-NP +'s POS B-NP +failure NN I-NP +to TO B-VP +have VB I-VP +any DT B-NP +plan NN I-NP +in IN B-PP +place NN B-NP +to TO B-VP +respond VB I-VP +in IN B-PP +a DT B-NP +timely JJ I-NP +fashion NN I-NP +to TO B-PP +the DT B-NP +opportunities NNS I-NP +to TO B-VP +oust VB I-VP +Manuel NNP B-NP +Noriega NNP I-NP +presented VBN B-VP +by IN B-PP +the DT B-NP +attempted VBN I-NP +military JJ I-NP +coup NN I-NP +on IN B-PP +Oct. NNP B-NP +3 CD I-NP +. . O + +You PRP B-NP +are VBP B-VP +absolutely RB B-ADJP +wrong JJ I-ADJP +, , O +however RB B-ADVP +, , O +in IN B-PP +opining VBG B-VP +that IN B-SBAR +this DT B-NP +position NN I-NP +is VBZ B-VP +some DT B-NP +kind NN I-NP +of IN B-PP +`` `` O +flip-flop NN B-NP +, , O +'' '' O +something NN B-NP +newly RB B-VP +arrived VBD I-VP +at IN B-PP +as IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +reading VBG B-VP +the DT B-NP +opinion NN I-NP +polls NNS I-NP +. . O + +My PRP$ B-NP +position NN I-NP +is VBZ B-VP +one CD B-NP +founded VBN B-VP +on IN B-PP +both DT B-NP +the DT B-NP +facts NNS I-NP +and CC O +the DT B-NP +law NN I-NP +. . O + +Although IN B-SBAR +you PRP B-NP +may MD B-VP +have VB I-VP +forgotten VBN I-VP +, , O +public JJ B-NP +opinion NN I-NP +about IN B-PP +Gen. NNP B-NP +Noriega NNP I-NP +is VBZ B-VP +where WRB B-ADVP +it PRP B-NP +is VBZ B-VP +in IN B-PP +large JJ B-NP +measure NN I-NP +because IN B-PP +of IN I-PP +my PRP$ B-NP +investigation NN I-NP +of IN B-PP +his PRP$ B-NP +years NNS I-NP +of IN B-PP +involvement NN B-NP +in IN B-PP +narcotics NNS B-NP +smuggling VBG I-NP +-LRB- ( O +and CC O +simultaneous JJ B-NP +work NN I-NP +as IN B-PP +a DT B-NP +U.S. NNP I-NP +operative JJ I-NP +-RRB- ) O +. . O + +The DT B-NP +public RB I-NP +made VBN B-VP +up IN B-PRT +its PRP$ B-NP +mind NN I-NP +about IN B-PP +Gen. NNP B-NP +Noriega NNP I-NP +largely RB B-ADVP +as IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +the DT B-NP +hearings NNS I-NP +I PRP B-NP +chaired VBD B-VP +in IN B-PP +the DT B-NP +Subcommittee NNP I-NP +on IN B-PP +Terrorism NNP B-NP +and CC I-NP +Narcotics NNPS I-NP +of IN B-PP +the DT B-NP +Foreign NNP I-NP +Relations NNP I-NP +Committee NNP I-NP +on IN B-PP +Feb. NNP B-NP +8 CD I-NP +, , I-NP +9 CD I-NP +, , I-NP +10 CD I-NP +and CC I-NP +11 CD I-NP +, , I-NP +1988 CD I-NP +, , B-PP +and CC I-PP +again RB B-ADVP +on IN B-PP +April NNP B-NP +4 CD I-NP +, , I-NP +1988 CD I-NP +. . O + +It PRP B-NP +was VBD B-VP +during IN B-PP +those DT B-NP +hearings NNS I-NP +that IN B-ADVP +the DT B-NP +nation NN I-NP +first JJ B-ADVP +learned VBD B-VP +the DT B-NP +breadth NN I-NP +and CC I-NP +depth NN I-NP +of IN B-PP +Gen. NNP B-NP +Noriega NNP I-NP +'s POS B-NP +criminality NN I-NP +, , B-PP +and CC I-PP +of IN B-PP +his PRP$ B-NP +enduring VBG I-NP +relationships NNS I-NP +with IN B-PP +a DT B-NP +variety NN I-NP +of IN B-PP +U.S. NNP B-NP +government NN I-NP +agencies NNS I-NP +. . O + +Those DT B-NP +hearings NNS I-NP +also RB B-ADVP +highlighted VBN B-VP +how WRB B-ADVP +Gen. NNP B-NP +Noriega NNP I-NP +was VBD B-VP +able JJ B-ADJP +to TO B-VP +use VB I-VP +his PRP$ B-NP +relationships NNS I-NP +with IN B-PP +these DT B-NP +agencies NNS I-NP +to TO B-VP +delay VB I-VP +U.S. NNP B-NP +action NN I-NP +against IN B-PP +him PRP B-NP +, , O +and CC O +to TO B-VP +exploit VB I-VP +the DT B-NP +administration NN I-NP +'s POS B-NP +obsession NN I-NP +with IN B-PP +overthrowing VBG B-VP +the DT B-NP +Sandinistas NNPS I-NP +to TO B-VP +protect VB I-VP +his PRP$ B-NP +own JJ I-NP +drug-dealing NN I-NP +. . O + +As IN B-SBAR +former JJ O +Ambassador NNP O +to TO B-PP +Costa NNP B-NP +Rica NNP I-NP +Francis NNP B-NP +J. NNP I-NP +McNeil NNP I-NP +testified VBD B-VP +before IN B-PP +the DT B-NP +subcommittee NN I-NP +, , O +the DT B-NP +Reagan NNP I-NP +administration NN I-NP +knew VBD B-VP +that IN B-SBAR +Gen. NNP B-NP +Noriega NNP I-NP +was VBD B-VP +involved VBN B-ADJP +with IN B-PP +narcotics NNS B-NP +, , O +but CC O +made VBD B-VP +a DT B-NP +decision NN I-NP +in IN B-PP +the DT B-NP +summer NN I-NP +of IN B-PP +1986 CD B-NP +`` `` O +to TO B-VP +put VB I-VP +Gen. NNP B-NP +Noriega NNP I-NP +on IN B-PP +the DT B-NP +shelf NN I-NP +until IN B-SBAR +Nicaragua NNP B-NP +was VBD B-VP +settled VBN I-VP +. . O +'' '' O + +As IN B-SBAR +the DT B-NP +report NN I-NP +issued VBN B-VP +by IN B-PP +the DT B-NP +subcommittee NN I-NP +concluded VBD B-VP +, , O +`` `` O +Our PRP$ B-NP +government NN I-NP +did VBD B-VP +nothing NN B-NP +regarding VBG B-PP +Gen. NNP B-NP +Noriega NNP I-NP +'s POS B-NP +drug NN I-NP +business NN I-NP +and CC O +substantial JJ B-NP +criminal JJ I-NP +involvement NN I-NP +because IN B-SBAR +the DT B-NP +first JJ I-NP +priority NN I-NP +was VBD B-VP +the DT B-NP +Contra NNP I-NP +war NN I-NP +. . O + +This DT B-NP +decision NN I-NP +resulted VBD B-VP +in IN B-PP +at IN B-ADVP +least JJS I-ADVP +some DT B-NP +drugs NNS I-NP +entering VBG B-VP +the DT B-NP +United NNP I-NP +States NNPS I-NP +as IN B-PP +a DT B-NP +hidden VBN I-NP +cost NN I-NP +of IN B-PP +the DT B-NP +war NN I-NP +. . O +'' '' O + +Unfortunately RB B-ADVP +, , O +this DT B-NP +problem NN I-NP +continued VBD B-VP +even RB B-PP +after IN I-PP +Gen. NNP B-NP +Noriega NNP I-NP +'s POS B-NP +indictment NN I-NP +. . O + +Throughout IN B-PP +1988 CD B-NP +and CC O +this DT B-NP +year NN I-NP +, , O +I PRP B-NP +and CC O +others NNS B-NP +in IN B-PP +Congress NNP B-NP +have VBP B-VP +pressed VBN I-VP +the DT B-NP +U.S. NNP I-NP +to TO B-VP +develop VB I-VP +a DT B-NP +plan NN I-NP +for IN B-PP +pushing VBG B-VP +this DT B-NP +`` `` I-NP +narcokleptocrat NN I-NP +'' '' O +out IN B-PP +of IN B-PP +Panama NNP B-NP +. . O + +Regrettably RB B-ADVP +, , O +two CD B-NP +administrations NNS I-NP +in IN B-PP +a DT B-NP +row NN I-NP +have VBP B-VP +been VBN I-VP +unwilling JJ B-ADJP +and CC I-ADJP +unable JJ I-ADJP +to TO B-VP +develop VB I-VP +any DT B-NP +plan NN I-NP +, , O +military JJ B-ADJP +or CC I-ADJP +economic JJ I-ADJP +, , O +for IN B-PP +supporting VBG B-VP +the DT B-NP +Panamanian JJ I-NP +people NNS I-NP +in IN B-PP +their PRP$ B-NP +attempts NNS I-NP +to TO B-VP +restore VB I-VP +democracy NN B-NP +. . O + +Sen. NNP B-NP +John NNP I-NP +Kerry NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Mass NNP B-NP +. . O +-RRB- ) O + +For IN B-PP +Vietnamese JJ B-NP +, , O +these DT B-NP +are VBP B-VP +tricky JJ O +, , O +often RB B-ADVP +treacherous JJ B-ADJP +, , O +times NNS B-NP +. . O + +After IN B-PP +years NNS B-NP +of IN B-PP +hesitation NN B-NP +, , O +economic JJ B-NP +and CC I-NP +political JJ I-NP +reform NN I-NP +was VBD B-VP +embraced VBN I-VP +at IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +1986 CD B-NP +, , O +but CC O +ringing VBG B-NP +declarations NNS I-NP +have VBP B-VP +yet RB I-VP +to TO I-VP +be VB I-VP +translated VBN I-VP +into IN B-PP +much JJ B-NP +action NN I-NP +. . O + +Vietnam NNP B-NP +is VBZ B-VP +finding VBG I-VP +that IN B-SBAR +turning VBG B-VP +a DT B-NP +stagnant JJ I-NP +socialist JJ I-NP +order NN I-NP +into IN B-PP +a DT B-NP +dynamic JJ I-NP +free JJ I-NP +market NN I-NP +does VBZ B-VP +n't RB I-VP +come VB I-VP +easy JJ B-ADVP +. . O + +Here RB B-ADVP +is VBZ B-VP +how WRB B-ADVP +three CD B-NP +Vietnamese JJ I-NP +are VBP B-VP +coping VBG I-VP +with IN B-PP +change NN B-NP +: : O + +The DT B-NP +Tire NNP I-NP +King NNP I-NP + +Nguyen NNP B-NP +Van NNP I-NP +Chan NNP I-NP +is VBZ B-VP +living VBG B-NP +proof NN I-NP +that IN B-SBAR +old JJ B-NP +ways NNS I-NP +die VBP B-VP +hard JJ B-ADVP +. . O + +Mr. NNP B-NP +Chan NNP I-NP +used VBD B-VP +to TO I-VP +be VB I-VP +an DT B-NP +oddity NN I-NP +in IN B-PP +Hanoi NNP B-NP +: : O +a DT B-NP +private JJ I-NP +entrepreneur NN I-NP +. . O + +His PRP$ B-NP +business NN I-NP +success NN I-NP +made VBD B-VP +him PRP B-NP +an DT B-NP +official JJ I-NP +target NN I-NP +in IN B-PP +pre-reform JJ B-NP +days NNS I-NP +. . O + +Mr. NNP B-NP +Chan NNP I-NP +, , O +now RB B-ADVP +64 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +invented VBD B-VP +a DT B-NP +fountain NN I-NP +pen NN I-NP +he PRP B-NP +and CC O +his PRP$ B-NP +family NN I-NP +produced VBN B-VP +from IN B-PP +plastic NN B-NP +waste NN I-NP +. . O + +Later RB B-ADVP +, , O +he PRP B-NP +marketed VBD B-VP +glue NN B-NP +. . O + +Both DT B-NP +products NNS I-NP +were VBD B-VP +immensely RB B-ADJP +popular JJ I-ADJP +. . O + +For IN B-PP +his PRP$ B-NP +troubles NNS I-NP +, , O +Mr. NNP B-NP +Chan NNP I-NP +was VBD B-VP +jailed VBN I-VP +three CD B-NP +times NNS I-NP +between IN B-PP +1960 CD B-NP +and CC I-NP +1974 CD I-NP +. . O + +Though IN B-SBAR +his PRP$ B-NP +operation NN I-NP +was VBD B-VP +registered VBN I-VP +and CC O +used VBN B-VP +only JJ B-NP +scrap NN I-NP +, , O +he PRP B-NP +was VBD B-VP +accused VBN I-VP +of IN B-PP +conducting VBG B-VP +illegal JJ B-NP +business NN I-NP +and CC O +possessing VBG B-VP +illegal JJ B-NP +materials NNS I-NP +. . O + +Once RB B-ADVP +he PRP B-NP +was VBD B-VP +held VBN I-VP +for IN B-PP +three CD B-NP +months NNS I-NP +without IN B-PP +being VBG B-VP +charged VBN I-VP +. . O + +Things NNS B-NP +were VBD B-VP +supposed VBN I-VP +to TO I-VP +change VB I-VP +when WRB B-ADVP +Vietnam NNP B-NP +'s POS B-NP +economic JJ I-NP +reforms NNS I-NP +gathered VBD B-VP +pace NN B-NP +, , O +and CC O +for IN B-PP +awhile RB B-ADVP +they PRP B-NP +did VBD B-VP +. . O + +After IN B-PP +years NNS B-NP +of IN B-PP +experimenting VBG B-NP +, , O +Mr. NNP B-NP +Chan NNP I-NP +produced VBD B-VP +a DT B-NP +heavy-duty JJ I-NP +bicycle NN I-NP +tire NN I-NP +that WDT B-NP +outlasted VBD B-VP +its PRP$ B-NP +state-produced JJ I-NP +rival NN I-NP +. . O + +By IN B-PP +1982 CD B-NP +, , O +he PRP B-NP +was VBD B-VP +selling VBG I-VP +thousands NNS B-NP +of IN B-PP +tires NNS B-NP +. . O + +Newspapers NNS B-NP +published VBD B-VP +articles NNS B-NP +about IN B-PP +him PRP B-NP +, , O +and CC O +he PRP B-NP +was VBD B-VP +hailed VBN I-VP +as IN B-PP +`` `` O +the DT B-NP +tire NN I-NP +king NN I-NP +. . O +'' '' O + +His PRP$ B-NP +efforts NNS I-NP +earned VBD B-VP +a DT B-NP +gold NN I-NP +medal NN I-NP +at IN B-PP +a DT B-NP +national JJ I-NP +exhibition NN I-NP +-- : O +and CC O +attracted VBN B-VP +renewed VBN B-NP +attention NN I-NP +from IN B-PP +local JJ B-NP +authorities NNS I-NP +. . O + +District NN B-NP +police NN I-NP +in IN B-PP +1983 CD B-NP +descended VBD B-VP +on IN B-PP +his PRP$ B-NP +suburban JJ I-NP +home NN I-NP +, , O +which WDT B-NP +he PRP B-NP +and CC O +his PRP$ B-NP +large JJ I-NP +family NN I-NP +used VBN B-VP +as IN B-PP +both DT B-NP +residence NN I-NP +and CC I-NP +factory NN I-NP +, , O +and CC O +demanded VBD B-VP +proof NN B-NP +the DT B-NP +house NN I-NP +and CC I-NP +equipment NN I-NP +were VBD B-VP +his PRP$ B-NP +. . O + +He PRP B-NP +produced VBD B-VP +it PRP B-NP +. . O + +`` `` O +That DT B-NP +was VBD B-VP +the DT B-NP +first JJ I-NP +time NN I-NP +they PRP B-NP +lost VBD B-VP +and CC O +I PRP B-NP +won VBD B-VP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +He PRP B-NP +was VBD B-VP +further JJ I-VP +questioned VBD I-VP +to TO B-VP +determine VB I-VP +if IN B-SBAR +he PRP B-NP +was VBD B-VP +`` `` O +a DT B-NP +real JJ I-NP +working NN I-NP +man NN I-NP +or CC O +an DT B-NP +exploiter NN I-NP +. . O +'' '' O + +Says VBZ B-VP +Mr. NNP B-NP +Chan NNP I-NP +: : O +`` `` O +When WRB B-ADVP +I PRP B-NP +showed VBD B-VP +it PRP B-NP +was VBD B-VP +from IN B-PP +my PRP$ B-NP +own JJ I-NP +brain NN I-NP +, , O +they PRP B-NP +lost VBD B-VP +for IN B-PP +the DT B-NP +second JJ I-NP +time NN I-NP +. . O +'' '' O + +But CC O +a DT B-NP +few JJ I-NP +days NNS I-NP +later RB B-ADVP +the DT B-NP +police NN I-NP +accused VBD B-VP +him PRP B-NP +of IN B-PP +stealing VBG B-VP +electricity NN B-NP +, , O +acquiring VBG B-VP +rubber NN B-NP +without IN B-PP +permission NN B-NP +and CC O +buying VBG B-VP +stolen VBN B-NP +property NN I-NP +. . O + +Warned VBD B-VP +he PRP B-NP +was VBD B-VP +to TO I-VP +be VB I-VP +jailed VBN I-VP +again RB B-ADVP +, , O +he PRP B-NP +fled VBD B-VP +to TO B-PP +the DT B-NP +countryside NN I-NP +. . O + +His PRP$ B-NP +family NN I-NP +was VBD B-VP +given VBN I-VP +three CD B-NP +hours NNS I-NP +to TO B-VP +leave VB I-VP +before IN O +the DT B-NP +house NN I-NP +and CC I-NP +contents NNS I-NP +were VBD B-VP +confiscated VBN I-VP +. . O + +With IN B-PP +only RB B-NP +the DT I-NP +clothes NNS I-NP +they PRP B-NP +were VBD B-VP +wearing VBG I-VP +, , O +family NN B-NP +members NNS I-NP +moved VBD B-VP +to TO B-PP +a DT B-NP +home NN I-NP +owned VBN B-VP +by IN B-PP +one CD B-NP +of IN B-PP +Mr. NNP B-NP +Chan NNP I-NP +'s POS B-NP +sons NNS I-NP +. . O + +After IN B-PP +six CD B-NP +months NNS I-NP +on IN B-PP +the DT B-NP +run NN I-NP +, , O +Mr. NNP B-NP +Chan NNP I-NP +learned VBD B-VP +the DT B-NP +order NN I-NP +for IN B-PP +his PRP$ B-NP +arrest NN I-NP +had VBD B-VP +been VBN I-VP +canceled VBN I-VP +. . O + +He PRP B-NP +rejoined VBD B-VP +his PRP$ B-NP +family NN I-NP +in IN B-PP +January NNP B-NP +1984 CD I-NP +and CC O +began VBD B-VP +the DT B-NP +long JJ I-NP +struggle NN I-NP +for IN B-PP +justice NN B-NP +, , O +pressing VBG B-VP +everyone NN B-NP +from IN B-PP +Hanoi NNP B-NP +municipal JJ I-NP +officials NNS I-NP +to TO B-PP +National NNP B-NP +Assembly NNP I-NP +deputies NNS I-NP +for IN B-PP +restoration NN B-NP +of IN B-PP +his PRP$ B-NP +rights NNS I-NP +. . O + +He PRP B-NP +and CC O +his PRP$ B-NP +family NN I-NP +kept VBD B-VP +afloat RB B-ADJP +by IN B-PP +repairing VBG B-VP +bicycles NNS B-NP +, , O +selling VBG B-VP +fruit NN B-NP +and CC O +doing VBG B-VP +odd JJ B-NP +jobs NNS I-NP +. . O + +Mr. NNP B-NP +Chan NNP I-NP +achieved VBD B-VP +a DT B-NP +breakthrough NN I-NP +in IN B-PP +1987 CD B-NP +-- : O +and CC O +became VBD B-VP +a DT B-NP +minor JJ I-NP +celebrity NN I-NP +again RB B-ADVP +-- : O +when WRB B-ADVP +his PRP$ B-NP +story NN I-NP +was VBD B-VP +published VBN I-VP +in IN B-PP +a DT B-NP +weekly JJ I-NP +newspaper NN I-NP +. . O + +In IN B-PP +1988 CD B-NP +, , O +18 CD B-NP +months NNS I-NP +after IN O +the DT B-NP +sixth JJ I-NP +congress NN I-NP +formally RB B-ADVP +endorsed VBD B-VP +family-run JJ B-NP +private JJ I-NP +enterprise NN I-NP +, , O +district NN B-NP +authorities NNS I-NP +allowed VBD B-VP +Mr. NNP B-NP +Chan NNP I-NP +to TO B-VP +resume VB I-VP +work NN B-NP +. . O + +By IN B-PP +late JJ B-NP +last JJ I-NP +year NN I-NP +he PRP B-NP +was VBD B-VP +invited VBN I-VP +back RB B-ADVP +as IN B-PP +`` `` O +the DT B-NP +tire NN I-NP +king NN I-NP +'' '' O +to TO B-VP +display VB I-VP +his PRP$ B-NP +products NNS I-NP +at IN B-PP +a DT B-NP +national JJ I-NP +exhibition NN I-NP +. . O + +National JJ B-NP +leaders NNS I-NP +stopped VBN B-VP +by IN B-PP +his PRP$ B-NP +stand NN I-NP +to TO B-VP +commend VB I-VP +his PRP$ B-NP +achievements NNS I-NP +. . O + +Mr. NNP B-NP +Chan NNP I-NP +now RB B-ADVP +produces VBZ B-VP +1,000 CD B-NP +bicycle NN I-NP +and CC I-NP +motorbike NN I-NP +tires VBZ I-NP +a DT B-NP +month NN I-NP +and CC O +1,000 CD B-NP +tins NNS I-NP +of IN B-PP +tire-patching JJ B-NP +glue NN I-NP +in IN B-PP +the DT B-NP +son NN I-NP +'s POS B-NP +small JJ I-NP +house NN I-NP +. . O + +Eighteen CD B-NP +people NNS I-NP +pack VBP B-VP +the DT B-NP +house NN I-NP +'s POS B-NP +two CD I-NP +rooms NNS I-NP +-- : O +the DT B-NP +Chans NNS I-NP +, , O +four CD B-NP +of IN B-PP +their PRP$ B-NP +10 CD I-NP +children NNS I-NP +with IN B-PP +spouses NNS B-NP +, , O +and CC O +eight CD B-NP +of IN B-PP +22 CD B-NP +grandchildren NNS I-NP +. . O + +Most JJS B-NP +sleep VB B-VP +on IN B-PP +the DT B-NP +floor NN I-NP +. . O + +Come VB B-PP +daybreak NN B-NP +, , O +eight CD B-NP +family NN I-NP +members NNS I-NP +and CC O +two CD B-NP +other JJ I-NP +workers NNS I-NP +unroll VBP B-VP +a DT B-NP +sheet NN I-NP +of IN B-PP +raw JJ B-NP +rubber NN I-NP +that WDT B-NP +covers VBZ B-VP +the DT B-NP +floor NN I-NP +of IN B-PP +the DT B-NP +house NN I-NP +and CC O +spills NNS B-VP +out IN B-ADVP +onto IN B-PP +the DT B-NP +street NN I-NP +. . O + +The DT B-NP +primitive JJ I-NP +operations NNS I-NP +also RB B-ADVP +burst VBP B-VP +out RP B-PP +the IN B-NP +back JJ I-NP +door NN I-NP +into IN B-PP +a DT B-NP +small JJ I-NP +courtyard NN I-NP +, , O +where WRB B-ADVP +an DT B-NP +ancient JJ I-NP +press NN I-NP +squeezes VBZ B-VP +rubber NN B-NP +solution NN I-NP +into IN B-PP +a DT B-NP +flat JJ I-NP +strip NN I-NP +and CC O +newly RB B-NP +made VBN I-NP +tires NNS I-NP +are VBP B-VP +cooled VBN I-VP +in IN B-PP +a DT B-NP +bathtub NN I-NP +filled VBN B-VP +with IN B-PP +water NN B-NP +. . O + +Mr. NNP B-NP +Chan NNP I-NP +talks VBZ B-VP +optimistically RB B-ADVP +of IN B-PP +expanding VBG B-VP +, , O +maybe RB B-VP +even RB I-VP +moving VBG I-VP +into IN B-PP +the DT B-NP +import-export JJ I-NP +field NN I-NP +. . O + +First RB B-ADVP +, , O +however RB B-ADVP +, , O +he PRP B-NP +has VBZ B-VP +unfinished JJ B-NP +business NN I-NP +. . O + +When WRB B-ADVP +district NN B-NP +authorities NNS I-NP +allowed VBN B-VP +him PRP B-NP +to TO B-VP +resume VB I-VP +manufacturing NN B-NP +, , O +they PRP B-NP +released VBD B-VP +only RB B-NP +one CD I-NP +of IN B-PP +his PRP$ B-NP +machines NNS I-NP +. . O + +They PRP B-NP +did VBD B-VP +n't RB I-VP +return VB I-VP +the DT B-NP +rubber NN I-NP +stocks NNS I-NP +that WDT B-NP +represent VBP B-VP +his PRP$ B-NP +capital NN I-NP +. . O + +Nor CC O +did VBD O +they PRP B-NP +return VBP B-VP +his PRP$ B-NP +house NN I-NP +and CC I-NP +contents NNS I-NP +, , O +which WDT B-NP +he PRP B-NP +values VBZ B-VP +at IN B-PP +about RB B-NP +$ $ I-NP +44,000 CD I-NP +. . O + +He PRP B-NP +wants VBZ B-VP +to TO I-VP +recover VB I-VP +more JJR B-NP +than IN B-PP +just RB B-NP +his PRP$ I-NP +property NN I-NP +, , O +though RB B-ADVP +. . O + +`` `` O +I PRP B-NP +want VBP B-VP +my PRP$ B-NP +dignity NN I-NP +back RB B-PRT +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +The DT B-NP +Editor NNP I-NP + +Nguyen NNP B-NP +Ngoc NNP I-NP +seemed VBD B-VP +an DT B-NP +obvious JJ I-NP +choice NN I-NP +when WRB B-ADVP +the DT B-NP +Vietnamese NNP I-NP +Writers NNP I-NP +Association NNP I-NP +was VBD B-VP +looking VBG I-VP +for IN B-PP +a DT B-NP +new JJ I-NP +editor NN I-NP +to TO B-VP +reform VB I-VP +its PRP$ B-NP +weekly JJ I-NP +newspaper NN I-NP +, , O +Van NNP B-NP +Nghe NNP I-NP +. . O + +After IN B-PP +the DT B-NP +sixth JJ I-NP +congress NN I-NP +, , O +journalists NNS B-NP +seized VBD B-VP +the DT B-NP +opportunity NN I-NP +provided VBN B-VP +by IN B-PP +the DT B-NP +liberalization NN I-NP +to TO B-VP +probe VB I-VP +previously RB B-NP +taboo JJ I-NP +subjects NNS I-NP +. . O + +Mr. NNP B-NP +Ngoc NNP I-NP +, , O +57 CD B-NP +years NNS I-NP +old JJ I-NP +, , O +had VBD B-VP +solid JJ B-NP +reformist NN I-NP +credentials NNS I-NP +: : O +He PRP B-NP +had VBD B-VP +lost VBN I-VP +his PRP$ B-NP +official JJ I-NP +position NN I-NP +in IN B-PP +the DT B-NP +association NN I-NP +in IN B-PP +he PRP B-NP +early JJ I-NP +1980s CD I-NP +because IN B-SBAR +he PRP B-NP +questioned VBD B-VP +the DT B-NP +intrusion NN I-NP +of IN B-PP +politics NNS B-NP +into IN B-PP +literature NN B-NP +. . O + +Appointed VBN B-VP +editor NN B-NP +in IN B-PP +chief JJ B-NP +in IN B-PP +July NNP B-NP +1987 CD I-NP +, , O +Mr. NNP B-NP +Ngoc NNP I-NP +rapidly RB B-ADVP +turned VBD B-VP +the DT B-NP +staid JJ I-NP +Van NNP I-NP +Nghe NNP I-NP +into IN B-PP +Vietnam NNP B-NP +'s POS B-NP +hottest JJS I-NP +paper NN I-NP +. . O + +Circulation NN B-NP +soared VBD B-VP +as IN B-SBAR +the DT B-NP +weekly NN I-NP +went VBD B-VP +way NN B-ADVP +beyond IN B-PP +standard JJ B-NP +literary JJ I-NP +themes NNS I-NP +to TO B-VP +cover VB I-VP +Vietnamese JJ B-NP +society NN I-NP +and CC O +its PRP$ B-NP +ills NNS I-NP +. . O + +Readers NNS B-NP +were VBD B-VP +electrified VBN I-VP +by IN B-PP +the DT B-NP +paper NN I-NP +'s POS B-NP +audacity NN I-NP +and CC O +appalled VBN B-VP +by IN B-PP +the DT B-NP +dark JJ I-NP +side NN I-NP +of IN B-PP +life NN B-NP +it PRP B-NP +uncovered VBD B-VP +. . O + +One CD B-NP +article NN I-NP +recounted VBD B-VP +a DT B-NP +decade-long JJ I-NP +struggle NN I-NP +by IN B-PP +a DT B-NP +wounded VBN I-NP +soldier NN I-NP +to TO B-VP +prove VB I-VP +, , O +officially RB B-ADVP +, , O +he PRP B-NP +was VBD B-VP +alive JJ B-ADJP +. . O + +Another DT B-NP +described VBN B-VP +how WRB B-ADVP +tax-collection JJ B-NP +officials NNS I-NP +in IN B-PP +Thanh NNP B-NP +Hoa NNP I-NP +province NN I-NP +one CD B-NP +night NN I-NP +stormed VBD B-VP +through IN B-PP +homes NNS B-NP +and CC O +confiscated VBN B-VP +rice NN B-NP +from IN B-PP +starving VBG B-NP +villagers NNS I-NP +. . O + +The DT B-NP +newspaper NN I-NP +also RB B-ADVP +ran VBD B-VP +a DT B-NP +series NN I-NP +of IN B-PP +controversial JJ B-NP +short JJ I-NP +stories NNS I-NP +by IN B-PP +Nguyen NNP B-NP +Huy NNP I-NP +Thiep NNP I-NP +, , O +a DT B-NP +former JJ I-NP +history NN I-NP +teacher NN I-NP +, , O +who WP B-NP +stirred VBD B-VP +debate NN B-NP +over IN B-PP +his PRP$ B-NP +interpretation NN I-NP +of IN B-PP +Vietnamese JJ B-NP +culture NN I-NP +and CC O +took VBD B-VP +a DT B-NP +thinly RB I-NP +veiled VBN I-NP +swipe NN I-NP +at IN B-PP +writers NNS B-NP +who WP B-NP +had VBD B-VP +blocked VBN I-VP +his PRP$ B-NP +entry NN I-NP +into IN B-PP +their PRP$ B-NP +official JJ I-NP +association NN I-NP +. . O + +Van NNP B-NP +Nghe NNP I-NP +quickly RB B-ADVP +made VBD B-VP +influential JJ B-NP +enemies NNS I-NP +. . O + +`` `` O +Those DT B-NP +who WP B-NP +manage VBP B-VP +ideology NN B-NP +and CC O +a DT B-NP +large JJ I-NP +number NN I-NP +of IN B-PP +writers NNS B-NP +reacted VBD B-VP +badly RB B-ADVP +'' '' O +to TO B-PP +the DT B-NP +restyled VBN I-NP +paper NN I-NP +, , O +says VBZ B-VP +Lai NNP B-NP +Nguyen NNP I-NP +An DT I-NP +, , O +a DT B-NP +literary JJ I-NP +critic NN I-NP +. . O + +After IN B-PP +months NNS B-NP +of IN B-PP +internal JJ B-NP +rumblings NNS I-NP +, , O +Mr. NNP B-NP +Ngoc NNP I-NP +was VBD B-VP +fired VBN I-VP +last JJ B-NP +December NNP I-NP +. . O + +His PRP$ B-NP +dismissal NN I-NP +triggered VBD B-VP +a DT B-NP +furor NN I-NP +among IN B-PP +intellectuals NNS B-NP +that WDT B-NP +continues VBZ B-VP +today NN B-NP +. . O + +`` `` O +Under IN B-PP +Mr. NNP B-NP +Ngoc NNP I-NP +, , O +Van NNP B-NP +Nghe NNP I-NP +protected VBD B-VP +the DT B-NP +people NNS I-NP +instead RB B-CONJP +of IN I-CONJP +the DT B-NP +government NN I-NP +, , O +'' '' O +says VBZ B-VP +Nguyen NNP B-NP +Duy NNP I-NP +, , O +a DT B-NP +poet NN I-NP +who WP B-NP +is VBZ B-VP +the DT B-NP +paper NN I-NP +'s POS B-NP +bureau NN I-NP +chief NN I-NP +for IN B-PP +southern JJ B-NP +Vietnam NNP I-NP +. . O + +`` `` O +The DT B-NP +paper NN I-NP +reflected VBD B-VP +the DT B-NP +truth NN I-NP +. . O + +For IN B-PP +the DT B-NP +leadership NN I-NP +, , O +that WDT B-NP +was VBD B-VP +too RB B-ADJP +painful JJ I-ADJP +to TO B-VP +bear VB I-VP +. . O +'' '' O + +The DT B-NP +` `` I-NP +Billionaire NN I-NP +' '' O + +Nguyen NNP B-NP +Thi NNP I-NP +Thi NNP I-NP +is VBZ B-VP +Vietnam NNP B-NP +'s POS B-NP +entrepreneur NN I-NP +of IN B-PP +the DT B-NP +1980s CD I-NP +. . O + +Her PRP$ B-NP +challenge NN I-NP +is VBZ B-VP +to TO B-VP +keep VB I-VP +her PRP$ B-NP +fledgling NN I-NP +empire NN I-NP +on IN B-PP +top JJ B-NP +in IN B-PP +the DT B-NP +1990s CD I-NP +. . O + +Mrs. NNP B-NP +Thi NNP I-NP +did VBD B-VP +n't RB I-VP +wait VB I-VP +for IN B-PP +the DT B-NP +reforms NNS I-NP +to TO B-VP +get VB I-VP +her PRP$ B-NP +start NN I-NP +. . O + +She PRP B-NP +charged VBD B-VP +ahead RB B-ADVP +of IN B-PP +the DT B-NP +government NN I-NP +and CC O +the DT B-NP +law NN I-NP +to TO B-VP +establish VB I-VP +Hochiminh NNP B-NP +City NNP I-NP +Food NNP I-NP +Co. NNP I-NP +as IN B-PP +the DT B-NP +biggest JJS I-NP +rice NN I-NP +dealer NN I-NP +in IN B-PP +the DT B-NP +country NN I-NP +. . O + +Her PRP$ B-NP +success NN I-NP +, , O +which WDT B-NP +included VBD B-VP +alleviating VBG I-VP +an DT B-NP +urban JJ I-NP +food NN I-NP +shortage NN I-NP +in IN B-PP +the DT B-NP +early JJ I-NP +1980s CD I-NP +, , O +helped VBD B-VP +persuade VB I-VP +Hanoi NNP B-NP +to TO B-VP +take VB I-VP +the DT B-NP +reform NN I-NP +path NN I-NP +. . O + +Her PRP$ B-NP +story NN I-NP +is VBZ B-VP +becoming VBG I-VP +part NN B-NP +of IN B-PP +local JJ B-NP +folklore NN I-NP +. . O + +A DT B-NP +lifelong JJ I-NP +revolutionary NN I-NP +with IN B-PP +little JJ B-NP +education NN I-NP +who WP B-NP +fought VBD B-VP +both DT B-NP +the DT B-NP +French JJ I-NP +and CC O +the DT B-NP +U.S.-backed JJ I-NP +Saigon NNP I-NP +regime NN I-NP +, , O +she PRP B-NP +switched VBD B-VP +effortlessly RB B-ADVP +to TO B-PP +commerce NN B-NP +after IN B-PP +the DT B-NP +war NN I-NP +. . O + +Her PRP$ B-NP +instincts NNS I-NP +were VBD B-VP +capitalistic JJ B-ADJP +, , O +despite IN B-PP +her PRP$ B-NP +background NN I-NP +. . O + +As IN B-SBAR +she PRP B-NP +rode VBD B-VP +over IN B-PP +regulations NNS B-NP +, , O +only RB B-NP +her PRP$ I-NP +friendship NN I-NP +with IN B-PP +party NN B-NP +leaders NNS I-NP +, , O +including VBG B-PP +Nguyen NNP B-NP +Van NNP I-NP +Linh NNP I-NP +, , O +then RB B-ADVP +Ho NNP B-NP +Chi NNP I-NP +Minh NNP I-NP +City NNP I-NP +party NN I-NP +secretary NN I-NP +, , O +kept VBD B-VP +her PRP B-NP +out IN B-PP +of IN B-PP +jail NN B-NP +. . O + +Following VBG B-PP +Mr. NNP B-NP +Linh NNP I-NP +'s POS B-NP +appointment NN I-NP +as IN B-PP +secretary-general NN B-NP +of IN B-PP +the DT B-NP +party NN I-NP +at IN B-PP +the DT B-NP +sixth JJ I-NP +congress NN I-NP +, , O +Mrs. NNP B-NP +Thi NNP I-NP +has VBZ B-VP +become VBN I-VP +the DT B-NP +darling NN I-NP +of IN B-PP +`` `` O +doi FW B-NP +moi FW I-NP +'' '' O +, , O +the DT B-NP +Vietnamese JJ I-NP +version NN I-NP +of IN B-PP +perestroika FW B-NP +. . O + +The DT B-NP +authorities NNS I-NP +have VBP B-VP +steered VBN I-VP +foreign JJ B-NP +reporters NNS I-NP +to TO B-PP +her PRP$ B-NP +office NN I-NP +to TO B-VP +see VB I-VP +an DT B-NP +example NN I-NP +of IN B-PP +`` `` O +the DT B-NP +new JJ I-NP +way NN I-NP +of IN B-PP +thinking VBG B-NP +. . O +'' '' O + +Foreign JJ B-NP +publications NNS I-NP +have VBP B-VP +responded VBN I-VP +with IN B-PP +articles NNS B-NP +declaring VBG B-VP +her PRP$ B-NP +Vietnam NNP B-NP +'s POS B-NP +richest JJS I-NP +woman NN I-NP +. . O + +`` `` O +Some DT B-NP +people NNS I-NP +call VBP B-VP +me PRP B-NP +the DT B-NP +communist JJ I-NP +billionaire NN I-NP +, , O +'' '' O +she PRP B-NP +has VBZ B-VP +told VBN I-VP +visitors NNS B-NP +. . O + +Actually RB B-ADVP +, , O +67-year-old NNP B-NP +Mrs. NNP I-NP +Thi NNP I-NP +is VBZ B-VP +about IN B-ADJP +as RB I-ADJP +poor JJ I-ADJP +as IN B-PP +almost JJ B-NP +everyone NN I-NP +else RB I-NP +in IN B-PP +this DT B-NP +impoverished JJ I-NP +land NN I-NP +. . O + +She PRP B-NP +has VBZ B-VP +indeed RB I-VP +turned VBN I-VP +Hochiminh NNP B-NP +City NNP I-NP +Food NNP I-NP +into IN B-PP +a DT B-NP +budding VBG I-NP +conglomerate NN I-NP +, , O +but CC O +the DT B-NP +company NN I-NP +itself PRP B-NP +remains VBZ B-VP +state-owned JJ B-ADJP +. . O + +She PRP B-NP +manages VBZ B-VP +it PRP B-NP +with IN B-PP +the DT B-NP +title NN I-NP +of IN B-PP +general-director NN B-NP +. . O + +The DT B-NP +heart NN I-NP +of IN B-PP +the DT B-NP +business NN I-NP +is VBZ B-VP +the DT B-NP +purchase NN I-NP +of IN B-PP +rice NN B-NP +and CC O +other JJ B-NP +commodities NNS I-NP +, , O +such JJ B-PP +as IN I-PP +corn NN B-NP +and CC I-NP +coffee NN I-NP +, , O +from IN B-PP +farmers NNS B-NP +in IN B-PP +the DT B-NP +south RB I-NP +, , O +paying VBG B-VP +with IN B-PP +fertilizer NN B-NP +, , O +farm NN B-NP +tools NNS I-NP +and CC O +other JJ B-NP +items NNS I-NP +. . O + +Last JJ B-NP +year NN I-NP +, , O +Hochiminh NNP B-NP +City NNP I-NP +Food NNP I-NP +says VBZ B-VP +it PRP B-NP +bought VBD B-VP +two CD B-NP +million CD I-NP +metric JJ I-NP +tons NNS I-NP +of IN B-PP +unhusked VBN B-NP +rice NN I-NP +, , O +more JJR B-NP +than IN I-NP +10 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +country NN I-NP +'s POS B-NP +output NN I-NP +. . O + +The DT B-NP +company NN I-NP +operates VBZ B-VP +a DT B-NP +fleet NN I-NP +of IN B-PP +trucks NNS B-NP +and CC I-NP +boats NNS I-NP +to TO B-VP +transport VB I-VP +the DT B-NP +commodities NNS I-NP +to TO B-PP +its PRP$ B-NP +warehouses NNS I-NP +. . O + +A DT B-NP +subsidiary NN I-NP +company NN I-NP +processes NNS B-VP +commodities NNS B-NP +into IN B-PP +foods NNS B-NP +such JJ B-PP +as IN I-PP +instant NN B-NP +noodles NNS I-NP +that WDT B-NP +are VBP B-VP +sold VBN I-VP +with IN B-PP +the DT B-NP +rice NN I-NP +through IN B-PP +a DT B-NP +vast JJ I-NP +retail JJ I-NP +network NN I-NP +. . O + +In IN B-PP +recent JJ B-NP +years NNS I-NP +, , O +Mrs. NNP B-NP +Thi NNP I-NP +has VBZ B-VP +started VBN I-VP +to TO I-VP +diversify VB I-VP +the DT B-NP +company NN I-NP +, , O +taking VBG B-VP +a DT B-NP +20 CD I-NP +% NN I-NP +stake NN I-NP +in IN B-PP +newly RB B-NP +established VBN I-NP +, , I-NP +partly RB I-NP +private JJ I-NP +Industrial NNP I-NP +and CC I-NP +Commercial NNP I-NP +Bank NNP I-NP +, , O +and CC O +setting VBG B-VP +up IN B-PRT +Saigon NNP B-NP +Petro NNP I-NP +, , O +which WDT B-NP +owns VBZ B-VP +and CC I-VP +operates VBZ I-VP +Vietnam NNP B-NP +'s POS B-NP +first JJ I-NP +oil NN I-NP +refinery NN I-NP +. . O + +Mrs. NNP B-NP +Thi NNP I-NP +says VBZ B-VP +Hochiminh NNP B-NP +City NNP I-NP +Food NNP I-NP +last JJ B-NP +year NN I-NP +increased VBD B-VP +pretax JJ B-NP +profit NN I-NP +60 CD B-NP +% NN I-NP +to TO B-PP +the DT B-NP +equivalent NN I-NP +of IN B-PP +about RB B-NP +$ $ I-NP +2.7 CD I-NP +million CD I-NP +on IN B-PP +sales NNS B-NP +of IN B-PP +$ $ B-NP +150 CD I-NP +million CD I-NP +. . O + +She PRP B-NP +expects VBZ B-VP +both DT B-NP +revenue NN I-NP +and CC I-NP +profit NN I-NP +to TO B-VP +gain VB I-VP +this DT B-NP +year NN I-NP +. . O + +She PRP B-NP +is VBZ B-VP +almost RB B-ADJP +cavalier JJ I-ADJP +about IN B-PP +the DT B-NP +possibility NN I-NP +Vietnam NNP B-NP +'s POS B-NP +reforms NNS I-NP +will MD B-VP +create VB I-VP +rivals NNS B-NP +on IN B-PP +her PRP$ B-NP +home NN I-NP +turf NN I-NP +. . O + +`` `` O +I PRP B-NP +do VBP B-VP +n't RB I-VP +mind VB I-VP +the DT B-NP +competition NN I-NP +inside IN B-PP +the DT B-NP +country NN I-NP +, , O +'' '' O +she PRP B-NP +says VBZ B-VP +. . O + +`` `` O +I PRP B-NP +am VBP B-VP +only RB B-ADVP +afraid JJ B-ADJP +that IN B-SBAR +with IN B-PP +Vietnam NNP B-NP +'s POS B-NP +poor-quality JJ I-NP +products NNS I-NP +we PRP B-NP +ca MD B-VP +n't RB I-VP +compete VB I-VP +with IN B-PP +neighboring VBG B-NP +countries NNS I-NP +. . O + +The DT B-NP +earthquake NN I-NP +that WDT B-NP +hit VBD B-VP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +Bay NNP I-NP +area NN I-NP +is VBZ B-VP +n't RB O +likely JJ B-ADJP +to TO B-VP +result VB I-VP +in IN B-PP +wholesale JJ B-NP +downgrading NN I-NP +of IN B-PP +bond NN B-NP +ratings NNS I-NP +, , O +officials NNS B-NP +at IN B-PP +the DT B-NP +two CD I-NP +major JJ I-NP +rating NN I-NP +agencies NNS I-NP +said VBD B-VP +. . O + +Standard NNP B-NP +& CC I-NP +Poor NNP I-NP +'s POS B-NP +Corp. NNP I-NP +is VBZ B-VP +reviewing VBG I-VP +debt NN B-NP +issued VBN B-VP +by IN B-PP +12 CD B-NP +California NNP I-NP +counties NNS I-NP +, , O +and CC O +`` `` O +there EX B-NP +are VBP B-VP +potential JJ B-NP +isolated VBN I-NP +problems NNS I-NP +, , O +'' '' O +said VBD B-VP +Hyman NNP B-NP +Grossman NNP I-NP +, , O +a DT B-NP +managing VBG I-NP +director NN I-NP +. . O + +The DT B-NP +agency NN I-NP +is VBZ B-VP +preparing VBG I-VP +a DT B-NP +report NN I-NP +, , O +to TO B-VP +be VB I-VP +issued VBN I-VP +today NN B-NP +, , O +on IN B-PP +the DT B-NP +earthquake NN I-NP +'s POS B-NP +impact NN I-NP +on IN B-PP +the DT B-NP +property- NN I-NP +and CC I-NP +casualty-insurance NN I-NP +industry NN I-NP +. . O + +The DT B-NP +only JJ I-NP +securities NNS I-NP +so RB B-ADVP +far RB I-ADVP +to TO B-VP +be VB I-VP +singled VBN I-VP +out IN B-PRT +are VBP B-VP +those DT B-NP +issued VBN B-VP +by IN B-PP +Bay NNP B-NP +View NNP I-NP +Federal NNP I-NP +Savings NNP I-NP +& CC I-NP +Loan NNP I-NP +. . O + +Moody NNP B-NP +'s POS B-NP +Investors NNP I-NP +Service NNP I-NP +Inc. NNP I-NP +said VBD B-VP +it PRP B-NP +is VBZ B-VP +reviewing VBG I-VP +, , O +with IN B-PP +an DT B-NP +eye NN I-NP +toward IN B-PP +a DT B-NP +possible JJ I-NP +downgrade NN I-NP +, , O +the DT B-NP +ratings NNS I-NP +on IN B-PP +Bay NNP B-NP +View NNP I-NP +Federal NNP I-NP +bonds NNS I-NP +, , O +long-term JJ B-NP +deposits NNS I-NP +and CC O +the DT B-NP +preferred-stock JJ I-NP +rating NN I-NP +of IN B-PP +its PRP$ B-NP +parent NN I-NP +company NN I-NP +, , O +Bay NNP B-NP +View NNP I-NP +Capital NNP I-NP +Corp NNP I-NP +. . O + +As IN B-PP +for IN B-PP +property NN B-NP +and CC I-NP +casualty NN I-NP +insurers NNS I-NP +, , O +Moody NNP B-NP +'s POS B-NP +said VBD B-VP +`` `` O +preliminary JJ B-NP +estimates NNS I-NP +suggest VBP B-VP +that IN B-SBAR +losses NNS B-NP +should MD B-VP +not RB I-VP +have VB I-VP +a DT B-NP +significant JJ I-NP +impact NN I-NP +on IN B-PP +most RBS B-NP +insurers NNS I-NP +' POS B-NP +financial JJ I-NP +condition NN I-NP +, , O +'' '' O +but CC O +it PRP B-NP +`` `` O +raises VBZ B-VP +concerns NNS B-NP +about IN B-PP +potentially RB B-NP +substantial JJ I-NP +risks NNS I-NP +'' '' O +longer-term JJ B-ADJP +. . O + +`` `` O +Losses NNS B-NP +from IN B-PP +the DT B-NP +earthquake NN I-NP +are VBP B-VP +expected VBN I-VP +to TO I-VP +be VB I-VP +of IN B-PP +similar JJ B-NP +magnitude NN I-NP +to TO B-PP +those DT B-NP +of IN B-PP +Hurricane NNP B-NP +Hugo NNP I-NP +, , O +'' '' O +according VBG B-PP +to TO B-PP +Moody NNP B-NP +'s POS B-NP +. . O + +Your PRP$ B-NP +Oct. NNP I-NP +5 NN I-NP +editorial NN I-NP +`` `` O +A DT B-NP +Democratic NNP I-NP +Tax NNP I-NP +Cut VB I-NP +'' '' O +contained VBD B-VP +an DT B-NP +error NN I-NP +. . O + +In IN B-PP +the DT B-NP +third JJ I-NP +paragraph NN I-NP +it PRP B-NP +referred VBD B-VP +to TO B-PP +the DT B-NP +senators NNS I-NP +seeking VBG B-VP +loophole NN B-NP +suggestions NNS I-NP +from IN B-PP +lobbyists NNS B-NP +for IN B-PP +various JJ B-NP +sectors NNS I-NP +of IN B-PP +the DT B-NP +economy NN I-NP +. . O + +Among IN B-PP +them PRP B-NP +, , O +`` `` O +banana NN B-NP +farmers NNS I-NP +. . O +'' '' O + +The DT B-NP +only RB I-NP +significant JJ I-NP +commercial JJ I-NP +banana NN I-NP +farmers NNS I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +are VBP B-VP +in IN B-PP +Hawaii NNP B-NP +. . O + +The DT B-NP +Hawaii NNP I-NP +Banana NNP I-NP +Industry NNP I-NP +Association NNP I-NP +, , O +to TO B-PP +which WDT B-NP +nearly RB B-NP +all DT I-NP +of IN B-PP +them PRP B-NP +belong VBP B-VP +, , O +has VBZ B-VP +no DT B-NP +lobbyist NN I-NP +. . O + +Thomas NNP B-NP +V. NNP I-NP +Reese NNP I-NP +Sr NNP I-NP +. . O +Maui NNP B-NP +Banana NNP I-NP +Co NNP I-NP +. . O + +Western NNP B-NP +Digital NNP I-NP +Corp. NNP I-NP +reported VBD B-VP +a DT B-NP +net JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +2.7 CD I-NP +million CD I-NP +, , O +or CC O +nine CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +for IN B-PP +its PRP$ B-NP +first JJ I-NP +quarter NN I-NP +ended VBN B-VP +Sept. NNP B-NP +30 CD I-NP +, , O +citing VBG B-VP +factors NNS B-NP +as RB B-ADJP +varied VBN I-ADJP +as IN B-PP +hurricane NN B-NP +damage NN I-NP +, , O +an DT B-NP +advance NN I-NP +in IN B-PP +graphics NNS B-NP +technology NN I-NP +and CC O +the DT B-NP +strengthening VBG I-NP +dollar NN I-NP +. . O + +In IN B-PP +the DT B-NP +year-ago JJ I-NP +period NN I-NP +, , O +the DT B-NP +company NN I-NP +earned VBD B-VP +$ $ B-NP +12.9 CD I-NP +million CD I-NP +, , O +or CC O +45 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +sales NNS B-NP +of IN B-PP +$ $ B-NP +247 CD I-NP +million CD I-NP +. . O + +Sales NNS B-NP +for IN B-PP +the DT B-NP +just-ended JJ I-NP +period NN I-NP +fell VBD B-VP +to TO B-PP +about RB B-NP +$ $ I-NP +225 CD I-NP +million CD I-NP +, , O +the DT B-NP +maker NN I-NP +of IN B-PP +computer NN B-NP +parts NNS I-NP +said VBD B-VP +. . O + +Nonetheless RB B-ADVP +, , O +Chairman NNP B-NP +Roger NNP I-NP +W. NNP I-NP +Johnson NNP I-NP +said VBD B-VP +he PRP B-NP +expects VBZ B-VP +the DT B-NP +company NN I-NP +to TO B-VP +be VB I-VP +profitable JJ B-ADJP +in IN B-PP +the DT B-NP +current JJ I-NP +quarter NN I-NP +. . O + +`` `` O +We PRP B-NP +are VBP B-VP +positioned VBN I-VP +to TO I-VP +come VB I-VP +through IN B-ADVP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +, , O +noting VBG B-VP +that IN B-SBAR +the DT B-NP +company NN I-NP +'s POS B-NP +backlog NN I-NP +was VBD B-VP +up IN B-ADVP +from IN B-PP +the DT B-NP +previous JJ I-NP +quarter NN I-NP +. . O + +In IN B-PP +its PRP$ B-NP +second JJ I-NP +quarter NN I-NP +last JJ B-NP +year NN I-NP +, , O +Western NNP B-NP +Digital NNP I-NP +earned VBD B-VP +$ $ B-NP +12.7 CD I-NP +million CD I-NP +, , O +or CC O +44 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +sales NNS B-NP +of IN B-PP +$ $ B-NP +258.4 CD I-NP +million CD I-NP +. . O + +Mr. NNP B-NP +Johnson NNP I-NP +said VBD B-VP +Western NNP B-NP +Digital NNP I-NP +'s POS B-NP +plant NN I-NP +in IN B-PP +Puerto NNP B-NP +Rico NNP I-NP +was VBD B-VP +affected VBN I-VP +by IN B-PP +Hurricane NNP B-NP +Hugo NNP I-NP +, , O +losing VBG B-VP +three CD B-NP +days NNS I-NP +' POS B-NP +production NN I-NP +because IN B-PP +of IN I-PP +the DT B-NP +storm NN I-NP +, , O +which WDT B-NP +wrecked VBD B-VP +much NN B-NP +of IN B-PP +the DT B-NP +Caribbean NNP I-NP +island NN I-NP +'s POS B-NP +infrastructure NN I-NP +. . O + +Although IN B-SBAR +the DT B-NP +plant NN I-NP +itself PRP B-NP +was VBD B-VP +n't RB I-VP +damaged VBN I-VP +, , O +Mr. NNP B-NP +Johnson NNP I-NP +said VBD B-VP +millions NNS B-NP +of IN B-PP +dollars NNS B-NP +in IN B-PP +first-quarter JJ B-NP +revenue NN I-NP +were VBD B-VP +lost VBN I-VP +. . O + +The DT B-NP +revenue NN I-NP +will MD B-VP +be VB I-VP +regained VBN I-VP +in IN B-PP +the DT B-NP +current JJ I-NP +period NN I-NP +, , O +he PRP B-NP +added VBD B-VP +. . O + +There EX B-NP +are VBP B-VP +no DT B-NP +plans NNS I-NP +to TO B-VP +initiate VB I-VP +a DT B-NP +common JJ I-NP +stock NN I-NP +dividend NN I-NP +, , O +Mr. NNP B-NP +Johnson NNP I-NP +said VBD B-VP +, , O +explaining VBG B-VP +that IN B-SBAR +the DT B-NP +board NN I-NP +continues VBZ B-VP +to TO I-VP +believe VB I-VP +shareholders NNS B-NP +are VBP B-VP +best RBS I-VP +served VBN I-VP +by IN B-PP +reinvesting VBG B-VP +excess JJ B-NP +cash NN I-NP +. . O + +Mr. NNP B-NP +Johnson NNP I-NP +said VBD B-VP +the DT B-NP +first-quarter JJ I-NP +loss NN I-NP +also RB B-ADVP +heavily RB B-VP +reflected VBD I-VP +a DT B-NP +rapid JJ I-NP +change NN I-NP +in IN B-PP +graphics NNS B-NP +technology NN B-NP +that WDT B-NP +left VBD B-VP +reseller JJR B-NP +channels NNS I-NP +with IN B-PP +too RB B-NP +many NN I-NP +of IN B-PP +the DT B-NP +old JJ I-NP +computer NN I-NP +graphics NNS I-NP +boards NNS I-NP +and CC O +too RB B-NP +few JJ I-NP +new JJ I-NP +monitors NNS I-NP +compatible JJ B-ADJP +with IN B-PP +the DT B-NP +new JJ I-NP +graphics NNS I-NP +boards NNS I-NP +. . O + +Western NNP B-NP +Digital NNP I-NP +does VBZ B-VP +n't RB I-VP +make VB I-VP +the DT B-NP +monitors NNS I-NP +. . O + +An DT B-NP +accelerating VBG I-NP +move NN I-NP +by IN B-PP +personal JJ B-NP +computer NN I-NP +manufacturers NNS I-NP +' POS B-NP +to TO B-VP +include VB I-VP +advanced VBD B-NP +graphics NNS I-NP +capabilities NNS I-NP +as IN B-PP +standard JJ B-NP +equipment NN I-NP +further JJ B-ADVP +dampened VBD B-VP +reseller JJR B-NP +purchases NNS I-NP +of IN B-PP +Western NNP B-NP +Digital NNP I-NP +'s POS B-NP +equipment NN I-NP +. . O + +`` `` O +The DT B-NP +other JJ I-NP +areas NNS I-NP +of IN B-PP +the DT B-NP +business NN I-NP +-- : O +storage NN B-NP +and CC I-NP +microcomputers NNS I-NP +-- : O +were VBD B-VP +very RB B-ADJP +good JJ I-ADJP +, , O +'' '' O +Mr. NNP B-NP +Johnson NNP I-NP +said VBD B-VP +. . O + +He PRP B-NP +said VBD B-VP +Western NNP B-NP +Digital NNP I-NP +has VBZ B-VP +reacted VBN I-VP +swiftly RB B-ADVP +to TO B-PP +the DT B-NP +movement NN I-NP +to TO B-PP +video NN B-NP +graphics NNS I-NP +array NN I-NP +, , O +VGA NNP O +, , O +graphics NNS B-NP +technology NN I-NP +from IN B-PP +the DT O +old JJ O +enhanced VBN O +graphics NNS O +adapter NN O +, , O +EGA NNP B-NP +, , O +which WDT B-NP +has VBZ B-VP +a DT B-NP +lower JJR I-NP +resolution NN I-NP +standard JJ I-NP +, , O +technology NN B-NP +and CC O +now RB B-VP +is VBZ I-VP +one CD B-NP +of IN B-PP +the DT B-NP +leading VBG I-NP +producers NNS I-NP +of IN B-PP +these DT B-NP +newer JJR I-NP +units NNS I-NP +. . O + +Other JJ B-NP +makers NNS I-NP +of IN B-PP +video NN B-NP +controller NN I-NP +equipment NN I-NP +also RB B-ADVP +were VBD B-VP +caught VBN I-VP +in IN B-PP +the DT B-NP +EGA-VGA JJ I-NP +shift NN I-NP +, , O +he PRP B-NP +said VBD B-VP +, , O +`` `` O +but CC O +we PRP B-NP +were VBD B-VP +able JJ B-ADJP +to TO B-VP +respond VB I-VP +much RB B-ADVP +more RBR I-ADVP +quickly RB I-ADVP +. . O +'' '' O + +Still RB B-ADVP +, , O +Mr. NNP B-NP +Johnson NNP I-NP +said VBD B-VP +, , O +`` `` O +our PRP$ B-NP +stock NN I-NP +is VBZ B-VP +grossly RB B-ADVP +undervalued VBN I-ADVP +. . O +'' '' O + +He PRP B-NP +said VBD B-VP +the DT B-NP +company NN I-NP +has VBZ B-VP +cut VBN I-VP +operating VBG B-NP +expenses NNS I-NP +by IN B-PP +about IN B-NP +10 CD I-NP +% NN I-NP +over IN B-PP +the DT B-NP +last JJ I-NP +few JJ I-NP +quarters NNS I-NP +, , O +while IN B-SBAR +maintaining VBG B-VP +research NN B-NP +and CC I-NP +development NN I-NP +at IN B-PP +about IN B-NP +8 CD I-NP +% NN I-NP +to TO I-NP +9 CD I-NP +% NN I-NP +of IN B-PP +sales NNS B-NP +. . O + +As IN B-PP +part NN B-NP +of IN B-PP +its PRP$ B-NP +reorganization NN I-NP +this DT B-NP +week NN I-NP +, , O +Western NNP B-NP +Digital NNP I-NP +has VBZ B-VP +divided VBN I-VP +its PRP$ B-NP +business NN I-NP +into IN B-PP +two CD B-NP +segments NNS I-NP +-- : O +storage NN B-NP +products NNS I-NP +, , O +including VBG B-PP +controllers NNS B-NP +and CC O +disk NN B-NP +drives NNS I-NP +; : O +and CC O +microcomputer NN B-NP +products NNS I-NP +, , O +which WDT B-NP +include VBP B-VP +graphics NNS B-NP +, , I-NP +communications NNS I-NP +and CC I-NP +peripheral JJ I-NP +control NN I-NP +chips NNS I-NP +. . O + +Graphics NNP B-NP +, , I-NP +communications NNS I-NP +and CC I-NP +peripheral JJ I-NP +control NN I-NP +chips NNS I-NP +were VBD B-VP +combined VBN I-VP +because IN B-SBAR +, , O +increasingly RB B-ADVP +, , O +multiple JJ B-NP +functions NNS I-NP +are VBP B-VP +being VBG I-VP +governed VBN I-VP +by IN B-PP +a DT B-NP +single JJ I-NP +chip NN I-NP +. . O + +Storage NNP B-NP +, , O +which WDT B-NP +includes VBZ B-VP +computer NN B-NP +controllers NNS I-NP +and CC O +3.5-inch CD B-NP +disk NN I-NP +drives NNS I-NP +, , O +represents VBZ B-VP +nearly RB B-NP +two-thirds NNS I-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +business NN I-NP +. . O + +Disk NN B-NP +drives NNS I-NP +, , O +which WDT B-NP +allow VBP B-VP +a DT B-NP +computer NN I-NP +to TO B-VP +access VB I-VP +its PRP$ B-NP +memory NN I-NP +, , O +generated VBN B-VP +38 CD B-NP +% NN I-NP +more JJR B-NP +revenue NN I-NP +in IN B-PP +the DT B-NP +most RBS I-NP +recent JJ I-NP +period NN I-NP +compared VBN B-PP +with IN B-PP +the DT B-NP +fiscal JJ I-NP +first JJ I-NP +quarter NN I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Computer NN B-NP +parts NNS I-NP +are VBP B-VP +getting VBG I-VP +ever RB B-ADJP +smaller JJR I-ADJP +, , O +Mr. NNP B-NP +Johnson NNP I-NP +said VBD B-VP +, , O +a DT B-NP +shrinking VBG I-NP +that WDT B-NP +has VBZ B-VP +propelled VBN I-VP +laptops NNS B-NP +into IN B-PP +position NN B-NP +as IN B-PP +the DT B-NP +fastest-growing JJ I-NP +segment NN I-NP +of IN B-PP +the DT B-NP +computer NN I-NP +business NN I-NP +. . O + +As IN B-SBAR +smaller JJR B-NP +and CC I-NP +more RBR I-NP +powerful JJ I-NP +computers NNS I-NP +continue VBP B-VP +to TO I-VP +be VB I-VP +the DT B-NP +focus NN I-NP +of IN B-PP +the DT B-NP +industry NN I-NP +, , O +he PRP B-NP +said VBD B-VP +, , O +Western NNP B-NP +Digital NNP I-NP +is VBZ B-VP +strengthening VBG I-VP +development NN B-NP +of IN B-PP +laptop NN B-NP +parts NNS I-NP +. . O + +Next JJ B-NP +year NN I-NP +Western NNP B-NP +Digital NNP I-NP +plans VBZ B-VP +to TO I-VP +consolidate VB I-VP +its PRP$ B-NP +operations NNS I-NP +from IN B-PP +11 CD B-NP +buildings NNS I-NP +in IN B-PP +Irvine NNP B-NP +into IN B-PP +two CD B-NP +buildings NNS I-NP +in IN B-PP +the DT B-NP +same JJ I-NP +city NN I-NP +a DT B-NP +new JJ I-NP +headquarters NN I-NP +and CC O +, , O +a DT B-NP +block NN I-NP +away RB B-ADVP +, , O +a DT B-NP +modern JJ I-NP +$ $ I-NP +100 CD I-NP +million CD I-NP +silicon NN I-NP +wafer NN I-NP +fabrication NN I-NP +plant NN I-NP +. . O + +The DT B-NP +plan NN I-NP +will MD B-VP +help VB I-VP +the DT B-NP +company NN I-NP +in IN B-PP +its PRP$ B-NP +existing VBG I-NP +joint JJ I-NP +manufacturing NN I-NP +agreement NN I-NP +with IN B-PP +AT&T NNP B-NP +. . O + +About IN B-NP +half NN I-NP +of IN B-PP +Western NNP B-NP +Digital NNP I-NP +'s POS B-NP +business NN I-NP +is VBZ B-VP +overseas JJ B-ADVP +, , O +and CC O +Mr. NNP B-NP +Johnson NNP I-NP +expects VBZ B-VP +that DT B-NP +proportion NN I-NP +to TO B-VP +continue VB I-VP +. . O + +Plans NNS B-NP +to TO B-VP +dissolve VB I-VP +many NN B-NP +of IN B-PP +the DT B-NP +trade NN I-NP +barriers NNS I-NP +within IN B-PP +Europe NNP B-NP +in IN B-PP +1992 CD B-NP +creates VBZ B-VP +significant JJ B-NP +opportunities NNS I-NP +for IN B-PP +the DT B-NP +company NN I-NP +, , O +he PRP B-NP +said VBD B-VP +, , O +particularly RB B-ADVP +since IN B-SBAR +Western NNP B-NP +Digital NNP I-NP +already RB B-ADVP +manufactures VBZ B-VP +there RB B-ADVP +. . O + +Capitalizing VBG B-VP +on IN B-PP +that DT B-NP +presence NN I-NP +, , O +Western NNP B-NP +Digital NNP I-NP +is VBZ B-VP +launching VBG I-VP +a DT B-NP +major JJ I-NP +effort NN I-NP +to TO B-VP +develop VB I-VP +the DT B-NP +embryonic JJ I-NP +reseller JJR I-NP +market NN I-NP +in IN B-PP +Europe NNP B-NP +. . O + +Directors NNS B-NP +of IN B-PP +state-owned JJ B-NP +Banca NNP I-NP +Nazionale NNP I-NP +del NNP I-NP +Lavoro NNP I-NP +approved VBD B-VP +a DT B-NP +two-step JJ I-NP +capital-boosting JJ I-NP +transaction NN I-NP +and CC O +a DT B-NP +change NN I-NP +in IN B-PP +the DT B-NP +bank NN I-NP +'s POS B-NP +rules NNS I-NP +that WDT B-NP +will MD B-VP +help VB I-VP +it PRP B-NP +operate VB B-VP +more JJR B-ADVP +like IN B-PP +a DT B-NP +private-sector JJ I-NP +institution NN I-NP +. . O + +Until IN B-PP +now RB B-ADVP +, , O +BNL NNP B-NP +'s POS B-NP +top JJ I-NP +managers NNS I-NP +and CC O +its PRP$ B-NP +directors NNS I-NP +have VBP B-VP +been VBN I-VP +appointed VBN I-VP +by IN B-PP +a DT B-NP +Treasury NNP I-NP +decree NN I-NP +. . O + +But CC O +under IN B-PP +the DT B-NP +bank NN I-NP +'s POS B-NP +proposed VBN I-NP +statutes NNS I-NP +, , O +an DT B-NP +assembly NN I-NP +of IN B-PP +shareholders NNS B-NP +must MD B-VP +approve VB I-VP +board NN B-NP +members NNS I-NP +. . O + +The DT B-NP +bank NN I-NP +'s POS B-NP +chairman NN I-NP +and CC I-NP +director NN I-NP +general JJ I-NP +, , O +who WP B-NP +also RB B-ADVP +sit VB B-VP +on IN B-PP +the DT B-NP +board NN I-NP +, , O +still RB B-ADVP +would MD B-VP +be VB I-VP +appointed VBN I-VP +by IN B-PP +the DT B-NP +Treasury NNP I-NP +. . O + +BNL NNP B-NP +, , O +which WDT B-NP +is VBZ B-VP +controlled VBN I-VP +by IN B-PP +the DT B-NP +Italian NNP I-NP +Treasury NNP I-NP +, , O +was VBD B-VP +rocked VBN I-VP +by IN B-PP +the DT B-NP +disclosure NN I-NP +last JJ B-NP +month NN I-NP +that IN B-SBAR +its PRP$ B-NP +Atlanta NNP I-NP +branch NN I-NP +extended VBN B-VP +more JJR B-NP +than IN I-NP +$ $ I-NP +3 CD I-NP +billion CD I-NP +in IN B-PP +unauthorized JJ B-NP +credits NNS I-NP +to TO B-PP +Iraq NNP B-NP +. . O + +The DT B-NP +ensuing VBG I-NP +scandal NN I-NP +, , O +in IN B-PP +which WDT B-NP +the DT B-NP +bank NN I-NP +'s POS B-NP +management NN I-NP +resigned VBD B-VP +, , O +has VBZ B-VP +helped VBN I-VP +renew VB I-VP +calls VBZ B-NP +for IN B-PP +privatization NN B-NP +, , O +or CC O +at IN B-ADVP +least JJS I-ADVP +an DT B-NP +overhaul NN I-NP +, , O +of IN B-PP +Italy NNP B-NP +'s POS B-NP +banking NN I-NP +system NN I-NP +, , O +which WDT B-NP +is VBZ B-VP +about IN B-NP +80 CD I-NP +% NN I-NP +state-controlled JJ B-ADJP +. . O + +In IN B-PP +a DT B-NP +related VBN I-NP +move NN I-NP +, , O +the DT B-NP +bank NN I-NP +also RB B-ADVP +proposed VBD B-VP +that DT B-SBAR +board NN B-NP +representation NN I-NP +be VB B-VP +linked VBN I-VP +more RBR B-ADVP +closely RB I-ADVP +to TO B-PP +the DT B-NP +bank NN I-NP +'s POS B-NP +new JJ I-NP +shareholding NN I-NP +structure NN I-NP +. . O + +BNL NNP B-NP +called VBD B-VP +a DT B-NP +shareholders NNS I-NP +' POS B-NP +assembly NN I-NP +meeting NN I-NP +in IN B-PP +December NNP B-NP +to TO B-VP +vote VB I-VP +on IN B-PP +the DT B-NP +proposals NNS I-NP +. . O + +BNL NNP B-NP +has VBZ B-VP +about IN B-NP +75,000 CD I-NP +nonvoting JJ I-NP +shares NNS I-NP +that WDT B-NP +are VBP B-VP +listed VBN I-VP +on IN B-PP +the DT B-NP +Milan NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +. . O + +The DT B-NP +shares NNS I-NP +were VBD B-VP +suspended VBN I-VP +from IN B-PP +trading NN B-NP +following VBG B-PP +disclosure NN B-NP +of IN B-PP +the DT B-NP +Atlanta NNP I-NP +scandal NN I-NP +; : O +Consob NNP B-NP +, , O +the DT B-NP +stock NN I-NP +exchange NN I-NP +regulatory JJ I-NP +body NN I-NP +, , O +reportedly RB B-ADVP +will MD B-VP +decide VB I-VP +soon RB B-ADVP +whether IN B-SBAR +to TO B-VP +end VB I-VP +the DT B-NP +trading NN I-NP +suspension NN I-NP +. . O + +Switzerland NNP B-NP +'s POS B-NP +wholesale JJ I-NP +price NN I-NP +index NN I-NP +increased VBN B-VP +0.3 CD B-NP +% NN I-NP +in IN B-PP +September NNP B-NP +from IN B-PP +August NNP B-NP +, , O +and CC O +was VBD B-VP +up IN B-PP +3.9 CD B-NP +% NN I-NP +from IN B-PP +a DT B-NP +year NN I-NP +ago RB B-ADVP +, , O +marking VBG B-VP +the DT B-NP +first JJ I-NP +time NN I-NP +this DT B-NP +year NN I-NP +that IN B-ADVP +the DT B-NP +index NN I-NP +has VBZ B-VP +fallen VBN I-VP +below IN B-PP +4 CD B-NP +% NN I-NP +on IN B-PP +a DT B-NP +year-to-year JJ I-NP +basis NN I-NP +, , O +the DT B-NP +government NN I-NP +reported VBD B-VP +. . O + +The DT B-NP +government NN I-NP +attributed VBD B-VP +the DT B-NP +0.3 CD I-NP +% NN I-NP +month-to-month JJ I-NP +rise NN I-NP +in IN B-PP +the DT B-NP +index NN I-NP +largely RB B-ADVP +to TO B-PP +higher JJR B-NP +energy NN I-NP +prices NNS I-NP +. . O + +In IN B-PP +August NNP B-NP +, , O +the DT B-NP +index NN I-NP +was VBD B-VP +up IN B-ADVP +0.2 CD B-NP +% NN I-NP +from IN B-PP +the DT B-NP +previous JJ I-NP +month NN I-NP +, , O +and CC O +was VBD B-VP +up IN B-ADVP +4.5 CD B-NP +% NN I-NP +on IN B-PP +a DT B-NP +year-to-year JJ I-NP +basis NN I-NP +. . O + +The DT B-NP +wholesale JJ I-NP +price NN I-NP +index NN I-NP +, , O +based VBN B-VP +on IN B-PP +1963 CD B-NP +as IN B-PP +100 CD B-NP +, , O +was VBD B-VP +180.9 CD B-NP +in IN B-PP +September NNP B-NP +. . O + +American NNP B-NP +Express NNP I-NP +Co. NNP I-NP +posted VBD B-VP +a DT B-NP +21 CD I-NP +% NN I-NP +increase NN I-NP +in IN B-PP +third JJ B-NP +quarter NN I-NP +net JJ I-NP +income NN I-NP +despite IN B-PP +a DT B-NP +sharp JJ I-NP +rise NN I-NP +in IN B-PP +reserves NNS B-NP +for IN B-PP +Third NNP B-NP +World NNP I-NP +loans NNS I-NP +at IN B-PP +its PRP$ B-NP +banking NN I-NP +unit NN I-NP +. . O + +Aided VBN B-VP +by IN B-PP +a DT B-NP +sharp JJ I-NP +gain NN I-NP +in IN B-PP +its PRP$ B-NP +travel NN I-NP +business NN I-NP +, , O +American NNP B-NP +Express NNP I-NP +said VBD B-VP +net NN B-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +331.8 CD I-NP +million CD I-NP +, , O +or CC O +77 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +273.9 CD I-NP +million CD I-NP +, , O +or CC O +64 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +The DT B-NP +year-earlier JJ I-NP +figures NNS I-NP +included VBD B-VP +$ $ B-NP +9.9 CD I-NP +million CD I-NP +, , O +or CC O +three CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +income NN B-NP +from IN B-PP +discontinued VBN B-NP +operations NNS I-NP +. . O + +Income NNP B-NP +from IN B-PP +continuing VBG B-NP +operations NNS I-NP +was VBD B-VP +up IN B-ADVP +26 CD B-NP +% NN I-NP +. . O + +Revenue NN B-NP +rose VBD B-VP +24 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +6.5 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +5.23 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +travel NN I-NP +, , I-NP +investment NN I-NP +services NNS I-NP +, , I-NP +insurance NN I-NP +and CC I-NP +banking NN I-NP +concern NN I-NP +added VBD B-VP +$ $ B-NP +110 CD I-NP +million CD I-NP +to TO B-PP +reserves NNS B-NP +for IN B-PP +credit NN B-NP +losses NNS I-NP +at IN B-PP +its PRP$ B-NP +American NNP I-NP +Express NNP I-NP +Bank NNP I-NP +unit NN I-NP +, , O +boosting VBG B-VP +the DT B-NP +reserve NN I-NP +to TO B-PP +$ $ B-NP +507 CD I-NP +million CD I-NP +as IN B-PP +of IN B-PP +Sept. NNP B-NP +30 CD I-NP +. . O + +The DT B-NP +bank NN I-NP +'s POS B-NP +Third NNP I-NP +World NNP I-NP +debt NN I-NP +portfolio NN I-NP +totals VBZ B-VP +$ $ B-NP +560 CD I-NP +million CD I-NP +, , O +down RB B-ADVP +from IN B-PP +$ $ B-NP +2.2 CD I-NP +billion CD I-NP +at IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +1986 CD B-NP +. . O + +The DT B-NP +bank NN I-NP +charged VBN B-VP +off IN B-PRT +$ $ B-NP +53 CD I-NP +million CD I-NP +in IN B-PP +loans NNS B-NP +during IN B-PP +the DT B-NP +quarter NN I-NP +. . O + +At IN B-PP +the DT B-NP +American NNP I-NP +Express NNP I-NP +Travel NNP I-NP +Related NNP I-NP +Services NNP I-NP +Co. NNP I-NP +unit NN I-NP +, , O +net NN B-NP +rose VBD B-VP +17 CD B-NP +% NN I-NP +to TO B-PP +a DT B-NP +record NN I-NP +$ $ I-NP +240.8 CD I-NP +million CD I-NP +on IN B-PP +a DT B-NP +19 CD I-NP +% NN I-NP +revenue NN I-NP +increase NN I-NP +. . O + +The DT B-NP +figures NNS I-NP +exclude VBP B-VP +businesses NNS B-NP +now RB B-VP +organized VBN I-VP +as IN B-PP +American NNP B-NP +Express NNP I-NP +Information NNP I-NP +Services NNP I-NP +Co NNP I-NP +. . O + +American NNP B-NP +Express NNP I-NP +card NN I-NP +charge NN I-NP +volume NN I-NP +rose VBD B-VP +12 CD B-NP +% NN I-NP +. . O + +Travel NN B-NP +sales NNS I-NP +rose VBD B-VP +11 CD B-NP +% NN I-NP +, , O +led VBN B-VP +by IN B-PP +gains NNS B-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +. . O + +At IN B-PP +IDS NNP B-NP +Financial NNP I-NP +Services NNPS I-NP +, , O +the DT B-NP +financial JJ I-NP +planning NN I-NP +and CC I-NP +mutual JJ I-NP +fund NN I-NP +unit NN I-NP +, , O +net NN B-NP +rose VBD B-VP +19 CD B-NP +% NN I-NP +to TO B-PP +a DT B-NP +record NN I-NP +$ $ I-NP +47.6 CD I-NP +million CD I-NP +on IN B-PP +a DT B-NP +33 CD I-NP +% NN I-NP +revenue NN I-NP +gain NN I-NP +. . O + +Assets NNS B-NP +owned VBN B-VP +or CC I-VP +managed VBD I-VP +rose VBD B-VP +20 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +45 CD I-NP +billion CD I-NP +, , O +and CC O +mutual JJ B-NP +fund NN I-NP +sales NNS I-NP +rose VBD B-VP +45 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +quarter NN I-NP +to TO B-PP +$ $ B-NP +923 CD I-NP +million CD I-NP +. . O + +American NNP B-NP +Express NNP I-NP +Bank NNP I-NP +earnings NNS I-NP +fell VBD B-VP +50 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +21.3 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +42.5 CD I-NP +million CD I-NP +despite IN B-PP +a DT B-NP +29 CD I-NP +% NN I-NP +revenue NN I-NP +gain NN I-NP +. . O + +The DT B-NP +results NNS I-NP +include VBP B-VP +$ $ B-NP +106 CD I-NP +million CD I-NP +of IN B-PP +tax NN B-NP +benefits NNS I-NP +associated VBN B-VP +with IN B-PP +previous JJ B-NP +years NNS I-NP +' POS B-NP +Third NNP I-NP +World NNP I-NP +loan NN I-NP +activity NN I-NP +, , O +compared VBN B-PP +with IN B-PP +$ $ B-NP +15 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Profit NN B-NP +rose VBD B-VP +38 CD B-NP +% NN I-NP +at IN B-PP +American NNP B-NP +Express NNP I-NP +Information NNP I-NP +Services NNPS I-NP +to TO B-PP +$ $ B-NP +21.6 CD I-NP +million CD I-NP +. . O + +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +Holdings NNP I-NP +Inc. NNP I-NP +, , O +as IN O +previously RB B-ADVP +reported VBD B-VP +, , O +had VBD B-VP +net NN B-NP +of IN B-PP +$ $ B-NP +65.9 CD I-NP +million CD I-NP +, , O +reversing VBG B-VP +a DT B-NP +$ $ I-NP +3.5 CD I-NP +million CD I-NP +loss NN I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +; : O +its PRP$ B-NP +latest JJS I-NP +results NNS I-NP +include VBP B-VP +a DT B-NP +$ $ I-NP +37 CD I-NP +million CD I-NP +gain NN I-NP +from IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +an DT B-NP +institutional JJ I-NP +money NN I-NP +management NN I-NP +business NN I-NP +. . O + +American NNP B-NP +Express NNP I-NP +'s POS B-NP +share NN I-NP +of IN B-PP +Shearson NNP B-NP +'s POS B-NP +earnings NNS I-NP +was VBD B-VP +$ $ B-NP +41 CD I-NP +million CD I-NP +, , O +after IN B-PP +preferred JJ B-NP +stock NN I-NP +dividends NNS I-NP +; : O +it PRP B-NP +owns VBZ B-VP +about IN B-NP +68 CD I-NP +% NN I-NP +of IN B-PP +Shearson NNP B-NP +'s POS B-NP +common JJ I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +American NNP B-NP +Express NNP I-NP +said VBD B-VP +net NN B-NP +rose VBD B-VP +11 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +899.8 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +2.09 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +807.5 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.89 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Revenue NN B-NP +rose VBD B-VP +24 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +18.73 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +15.09 CD I-NP +billion CD I-NP +. . O + +Textron NNP B-NP +Inc. NNP I-NP +, , O +hampered VBN B-VP +by IN B-PP +a DT B-NP +slowdown NN I-NP +in IN B-PP +its PRP$ B-NP +defense NN I-NP +sales NNS I-NP +, , O +reported VBD B-VP +an DT B-NP +8 CD I-NP +% NN I-NP +decline NN I-NP +in IN B-PP +per-share JJ B-NP +earnings NNS I-NP +on IN B-PP +nearly RB B-NP +flat JJ I-NP +revenue NN I-NP +for IN B-PP +its PRP$ B-NP +third JJ I-NP +quarter NN I-NP +. . O + +The DT B-NP +aerospace NN I-NP +and CC I-NP +financial JJ I-NP +services NNS I-NP +concern VBP I-NP +said VBD B-VP +net JJ B-NP +income NN I-NP +fell VBD B-VP +5 NN B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +59.5 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +62.8 CD I-NP +million CD I-NP +. . O + +Revenue NN B-NP +of IN B-PP +$ $ B-NP +1.73 CD I-NP +billion CD I-NP +was VBD B-VP +almost RB B-ADJP +unchanged JJ I-ADJP +from IN B-PP +last JJ B-NP +year NN I-NP +'s POS B-NP +$ $ I-NP +1.72 CD I-NP +billion CD I-NP +. . O + +Per-share JJ B-NP +net NN I-NP +of IN B-PP +66 CD B-NP +cents NNS I-NP +, , O +down RB B-ADVP +from IN B-PP +72 CD B-NP +cents NNS I-NP +, , O +fell VBN B-VP +by IN B-PP +more JJR B-NP +than IN B-PP +overall JJ B-NP +net NN I-NP +because IN B-PP +of IN I-PP +more JJR B-NP +shares NNS I-NP +outstanding JJ B-ADJP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +that WDT B-SBAR +improved VBD B-NP +results NNS I-NP +in IN B-PP +its PRP$ B-NP +financial-services NNS I-NP +sector NN I-NP +were VBD B-VP +negated VBN I-VP +by IN B-PP +increased JJ B-NP +costs NNS I-NP +in IN B-PP +its PRP$ B-NP +government NN I-NP +contract NN I-NP +business NN I-NP +, , O +lower JJR B-NP +operating VBG I-NP +earnings NNS I-NP +in IN B-PP +its PRP$ B-NP +commercial-products JJ I-NP +sector NN I-NP +and CC O +soft JJ B-NP +automotive JJ I-NP +markets NNS I-NP +. . O + +Net NN B-NP +was VBD B-VP +aided VBN I-VP +by IN B-PP +a DT B-NP +lower JJR I-NP +income NN I-NP +tax NN I-NP +rate NN I-NP +. . O + +Profit NN B-NP +before IN B-PP +taxes NNS B-NP +fell VBD B-VP +17 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +84.4 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +101.4 CD I-NP +million CD I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +Textron NNP B-NP +reported VBD B-VP +net NN B-NP +of IN B-PP +$ $ B-NP +182.1 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +2.06 CD I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +revenue NN B-NP +of IN B-PP +$ $ B-NP +5.41 CD I-NP +billion CD I-NP +. . O + +A DT B-NP +year NN I-NP +ago RB B-ADVP +, , O +net NN B-NP +was VBD B-VP +$ $ B-NP +170.4 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.93 CD I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +revenue NN B-NP +of IN B-PP +$ $ B-NP +5.3 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +nine-month JJ I-NP +results NNS I-NP +included VBD B-VP +a DT B-NP +$ $ I-NP +9.5 CD I-NP +million CD I-NP +special JJ I-NP +charge NN I-NP +in IN B-PP +1989 CD B-NP +for IN B-PP +an DT B-NP +arbitration NN I-NP +settlement NN I-NP +related VBN B-VP +to TO B-PP +past JJ B-NP +export NN I-NP +sales NNS I-NP +, , O +and CC O +$ $ B-NP +29.7 CD I-NP +million CD I-NP +in IN B-PP +extraordinary JJ B-NP +charges NNS I-NP +in IN B-PP +1988 CD B-NP +related VBN B-VP +to TO B-PP +a DT B-NP +former JJ I-NP +line NN I-NP +of IN B-PP +business NN B-NP +and CC O +early JJ B-NP +redemption NN I-NP +of IN B-PP +debt NN B-NP +. . O + +Textron NNP B-NP +said VBD B-VP +that IN B-SBAR +nine-months NNS B-NP +' POS B-NP +results NNS I-NP +do VBP B-VP +n't RB I-VP +include VB I-VP +earnings NNS B-NP +of IN B-PP +Avdel NNP B-NP +PLC NNP I-NP +, , O +a DT B-NP +British JJ I-NP +maker NN I-NP +of IN B-PP +industrial JJ B-NP +fasteners NNS I-NP +, , O +but CC O +do VBP B-VP +include VB I-VP +interest NN B-NP +costs NNS I-NP +of IN B-PP +$ $ B-NP +16.4 CD I-NP +million CD I-NP +on IN B-PP +borrowings NNS B-NP +related VBN B-VP +to TO B-PP +the DT B-NP +proposed VBN I-NP +purchase NN I-NP +of IN B-PP +Avdel NNP B-NP +. . O + +A DT B-NP +federal JJ I-NP +judge NN I-NP +has VBZ B-VP +issued VBN I-VP +a DT B-NP +preliminary JJ I-NP +injunction NN I-NP +against IN B-PP +the DT B-NP +purchase NN I-NP +because IN B-PP +of IN I-PP +Federal NNP B-NP +Trade NNP I-NP +Commission NNP I-NP +concerns NNS I-NP +that IN B-SBAR +the DT B-NP +transaction NN I-NP +would MD B-VP +reduce VB I-VP +competition NN B-NP +in IN B-PP +the DT B-NP +production NN I-NP +of IN B-PP +two CD B-NP +kinds NNS I-NP +of IN B-PP +rivets VBZ B-NP +. . O + +For IN B-PP +the DT B-NP +quarter NN I-NP +, , O +Textron NNP B-NP +said VBD B-VP +aerospace NN B-NP +revenue NN I-NP +, , O +including VBG B-PP +Bell NNP B-NP +helicopter NN I-NP +and CC O +jet-engine NN B-NP +manufacture NN I-NP +, , O +declined VBD B-VP +9.8 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +755.9 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +838.3 CD I-NP +million CD I-NP +, , O +an DT B-NP +indication NN I-NP +of IN B-PP +slowing VBG B-NP +government NN I-NP +defense NN I-NP +work NN I-NP +. . O + +As IN B-SBAR +the DT B-NP +Hunt NNP I-NP +brothers NNS I-NP +' POS B-NP +personal JJ I-NP +bankruptcy NN I-NP +cases NNS I-NP +sputter VBP B-VP +into IN B-PP +their PRP$ B-NP +second JJ I-NP +year NN I-NP +, , O +Minpeco NNP B-NP +S.A. NNP I-NP +has VBZ B-VP +proposed VBN I-VP +a DT B-NP +deal NN I-NP +to TO B-VP +settle VB I-VP +its PRP$ B-NP +huge JJ I-NP +claim NN I-NP +against IN B-PP +the DT B-NP +troubled JJ I-NP +Texas NNP I-NP +oil NN I-NP +men NNS I-NP +. . O + +But CC O +the DT B-NP +plan NN I-NP +only RB B-ADVP +threatens VBZ B-VP +to TO I-VP +heighten VB I-VP +the DT B-NP +tension NN I-NP +and CC I-NP +confusion NN I-NP +already RB B-VP +surrounding VBG I-VP +the DT B-NP +cases NNS I-NP +that WDT B-NP +were VBD B-VP +filed VBN I-VP +in IN B-PP +September NNP B-NP +1988 CD I-NP +. . O + +The DT B-NP +Peruvian JJ I-NP +mineral NN I-NP +concern NN I-NP +'s POS B-NP +$ $ B-ADJP +251 CD O +million CD O +claim NN B-NP +stems VBZ B-VP +from IN B-PP +1988 CD B-NP +jury NN I-NP +award NN I-NP +in IN B-PP +a DT B-NP +case NN I-NP +stemming VBG B-VP +from IN B-PP +the DT B-NP +brothers NNS I-NP +' POS B-NP +alleged VBN I-NP +attempts NNS I-NP +to TO B-VP +corner VB I-VP +the DT B-NP +1979-80 CD I-NP +silver NN I-NP +market NN I-NP +. . O + +Minpeco NNP B-NP +now RB B-ADVP +says VBZ B-VP +it PRP B-NP +is VBZ B-VP +willing JJ B-ADJP +to TO B-VP +settle VB I-VP +for IN B-PP +up IN B-NP +to TO I-NP +$ $ I-NP +65.7 CD I-NP +million CD I-NP +from IN B-PP +each DT B-NP +brother NN I-NP +, , O +although IN B-SBAR +the DT B-NP +actual JJ I-NP +amount NN I-NP +would MD B-VP +probably RB I-VP +be VB I-VP +much RB B-ADJP +less JJR I-ADJP +. . O + +Although IN B-SBAR +the DT B-NP +proposal NN I-NP +must MD B-VP +be VB I-VP +approved VBN I-VP +by IN B-PP +federal JJ B-NP +Judge NNP I-NP +Harold NNP I-NP +C. NNP I-NP +Abramson NNP I-NP +, , O +W. NNP B-NP +Herbert NNP I-NP +Hunt NNP I-NP +has VBZ B-VP +agreed VBN I-VP +to TO B-PP +the DT B-NP +Peruvian JJ I-NP +mineral NN I-NP +concern NN I-NP +'s POS B-NP +proposal NN I-NP +. . O + +Nelson NNP B-NP +Bunker NNP I-NP +Hunt NNP I-NP +is VBZ B-VP +considering VBG I-VP +it PRP B-NP +, , O +although IN B-SBAR +his PRP$ B-NP +attorney NN I-NP +says VBZ B-VP +he PRP B-NP +wo MD B-VP +n't RB I-VP +do VB I-VP +it PRP B-NP +if IN B-SBAR +the DT B-NP +proposal NN I-NP +jeopardizes VBZ B-VP +a DT B-NP +tentative JJ I-NP +settlement NN I-NP +he PRP B-NP +has VBZ B-VP +reached VBN I-VP +with IN B-PP +the DT B-NP +Internal NNP I-NP +Revenue NNP I-NP +Service NNP I-NP +, , O +which WDT B-NP +claims VBZ B-VP +the DT B-NP +brothers NNS I-NP +owe VBP B-VP +$ $ B-NP +1 CD I-NP +billion CD I-NP +in IN B-PP +back RB B-NP +taxes VBZ I-NP +and CC O +is VBZ B-VP +by IN B-PP +far RB B-ADVP +the DT B-NP +biggest JJS I-NP +creditor NN I-NP +in IN B-PP +both DT B-NP +cases NNS I-NP +. . O + +The DT B-NP +tentative JJ I-NP +agreement NN I-NP +between IN B-PP +the DT B-NP +IRS NNP I-NP +and CC O +Nelson NNP B-NP +Bunker NNP I-NP +Hunt NNP I-NP +is VBZ B-VP +awaiting VBG I-VP +U.S. NNP B-NP +Justice NNP I-NP +Department NNP I-NP +approval NN I-NP +. . O + +Under IN B-PP +it PRP B-NP +, , O +the DT B-NP +former JJ I-NP +billionaire NN I-NP +'s POS B-NP +assets NNS I-NP +would MD B-VP +be VB I-VP +liquidated VBN I-VP +with IN B-PP +the DT B-NP +IRS NNP I-NP +getting VBG B-VP +80 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +proceeds NNS I-NP +and CC O +the DT B-NP +rest NN I-NP +being VBG B-VP +divided VBN I-VP +among IN B-PP +other JJ B-NP +creditors NNS I-NP +, , O +including VBG B-PP +Minpeco NNP B-NP +and CC O +Manufacturers NNP B-NP +Hanover NNP I-NP +Trust NNP I-NP +Co. NNP I-NP +, , O +which WDT B-NP +is VBZ B-VP +seeking VBG I-VP +repayment NN B-NP +of IN B-PP +a DT B-NP +$ $ I-NP +36 CD I-NP +million CD I-NP +loan NN I-NP +. . O + +A DT B-NP +similiar JJ I-NP +proposal NN I-NP +has VBZ B-VP +been VBN I-VP +made VBN I-VP +in IN B-PP +the DT B-NP +W. NNP I-NP +Herbert NNP I-NP +Hunt NNP I-NP +case NN I-NP +although IN B-SBAR +he PRP B-NP +and CC O +the DT B-NP +IRS NNP I-NP +are VBP B-VP +at IN B-PP +odds NNS B-NP +over IN B-PP +the DT B-NP +size NN I-NP +of IN B-PP +the DT B-NP +non-dischargable JJ I-NP +debt NN I-NP +he PRP B-NP +would MD B-VP +have VB I-VP +to TO I-VP +pay VB I-VP +to TO B-PP +the DT B-NP +government NN I-NP +from IN B-PP +future NN B-NP +earnings NNS I-NP +. . O + +In IN B-PP +both DT B-NP +cases NNS I-NP +, , O +Minpeco NNP B-NP +and CC O +Manufacturers NNP B-NP +Hanover NNP I-NP +have VBP B-VP +been VBN I-VP +fighting VBG I-VP +ferociously RB B-ADVP +over IN B-PP +their PRP$ B-NP +shares NNS I-NP +of IN B-PP +the DT B-NP +pie NN I-NP +. . O + +With IN B-PP +support NN B-NP +from IN B-PP +the DT B-NP +IRS NNP I-NP +, , O +Manufacturers NNP B-NP +Hanover NNP I-NP +has VBZ B-VP +filed VBN I-VP +suit NN B-NP +asking VBG B-VP +Judge NNP B-NP +Abramson NNP I-NP +to TO B-VP +subordinate VB I-VP +Minpeco NNP B-NP +'s POS B-NP +claim NN I-NP +to TO B-PP +those DT B-NP +of IN B-PP +Manufacturer NNP B-NP +Hanover NNP I-NP +and CC O +the DT B-NP +IRS NNP I-NP +. . O + +Minpeco NNP B-NP +has VBZ B-VP +threatened VBN I-VP +a DT B-NP +`` `` I-NP +volcano NN I-NP +'' '' O +of IN B-PP +litigation NN B-NP +if IN B-SBAR +the DT B-NP +Manufacturers NNP I-NP +Hanover NNP I-NP +Corp. NNP I-NP +unit NN I-NP +attempts NNS B-VP +to TO I-VP +force VB I-VP +such JJ B-NP +a DT I-NP +plan NN I-NP +through IN B-PP +the DT B-NP +court NN I-NP +. . O + +Minpeco NNP B-NP +said VBD B-VP +it PRP B-NP +would MD B-VP +n't RB I-VP +pursue VB I-VP +such JJ B-NP +litigation NN I-NP +if IN B-SBAR +its PRP$ B-NP +settlement NN I-NP +plan NN I-NP +in IN B-PP +the DT B-NP +W. NNP I-NP +Herbert NNP I-NP +Hunt NNP I-NP +case NN I-NP +is VBZ B-VP +approved VBN I-VP +by IN B-PP +Judge NNP B-NP +Abramson NNP I-NP +, , O +who WP B-NP +will MD B-VP +consider VB I-VP +the DT B-NP +proposal NN I-NP +at IN B-PP +a DT B-NP +hearing NN I-NP +next JJ B-NP +week NN I-NP +. . O + +Minpeco NNP B-NP +attorney NN I-NP +Thomas NNP I-NP +Gorman NNP I-NP +decribed VBD B-VP +the DT B-NP +plan NN I-NP +as IN B-PP +one CD B-NP +step NN I-NP +toward IN B-PP +an DT B-NP +overall JJ I-NP +settlement NN I-NP +of IN B-PP +the DT B-NP +W. NNP I-NP +Herbert NNP I-NP +Hunt NNP I-NP +case NN I-NP +but CC O +Hugh NNP B-NP +Ray NNP I-NP +, , O +attorney NN B-NP +for IN B-PP +Manufacturers NNP B-NP +Hanover NNP I-NP +, , O +called VBD B-VP +it PRP B-NP +`` `` O +silly JJ B-ADJP +'' '' O +and CC O +said VBD B-VP +he PRP B-NP +would MD B-VP +fight VB I-VP +it PRP B-NP +in IN B-PP +court NN B-NP +. . O + +`` `` O +The DT B-NP +thing NN I-NP +is VBZ B-VP +so RB B-ADJP +fluid NN I-ADJP +right RB B-ADVP +now RB I-ADVP +that IN B-SBAR +there EX B-NP +'s VBZ B-VP +really RB B-NP +no DT I-NP +way NN I-NP +to TO B-VP +say VB I-VP +what WP B-NP +will MD B-VP +happen VB I-VP +, , O +'' '' O +says VBZ B-VP +Justice NNP B-NP +Department NNP I-NP +attorney NN I-NP +Grover NNP I-NP +Hartt NNP I-NP +III NNP I-NP +, , O +who WP B-NP +represents VBZ B-VP +the DT B-NP +IRS NNP I-NP +in IN B-PP +the DT B-NP +case NN I-NP +. . O + +`` `` O +Developments NNPS B-NP +like IN B-PP +this DT B-NP +are VBP B-VP +hard JJ B-ADJP +to TO B-VP +predict VB I-VP +. . O + +Banc NNP B-NP +One CD I-NP +Corp. NNP I-NP +said VBD B-VP +it PRP B-NP +agreed VBD B-VP +in IN B-PP +principle NN B-NP +to TO B-VP +buy VB I-VP +five CD B-NP +branch NN I-NP +offices NNS I-NP +from IN B-PP +Trustcorp NNP B-NP +Inc. NNP I-NP +, , O +Toledo NNP B-NP +, , O +Ohio NNP B-NP +, , O +following VBG B-PP +the DT B-NP +planned VBN I-NP +merger NN I-NP +of IN B-PP +Trustcorp NNP B-NP +into IN B-PP +Society NNP B-NP +Corp. NNP I-NP +, , O +Cleveland NNP B-NP +. . O + +The DT B-NP +five CD I-NP +offices NNS I-NP +in IN B-PP +Erie NNP B-NP +and CC I-NP +Ottawa NNP I-NP +counties NNS I-NP +in IN B-PP +northern JJ B-NP +Ohio NNP I-NP +have VBP B-VP +total JJ B-NP +assets NNS I-NP +of IN B-PP +about RB B-NP +$ $ I-NP +88 CD I-NP +million CD I-NP +, , O +Banc NNP B-NP +One CD I-NP +said VBD B-VP +. . O + +The DT B-NP +purchase NN I-NP +price NN I-NP +will MD B-VP +be VB I-VP +established VBN I-VP +after IN B-SBAR +Banc NNP B-NP +One CD I-NP +has VBZ B-VP +an DT B-NP +opportunity NN I-NP +to TO B-VP +study VB I-VP +the DT B-NP +quality NN I-NP +of IN B-PP +the DT B-NP +assets NNS I-NP +, , O +Banc NNP B-NP +One CD I-NP +said VBD B-VP +. . O + +Society NNP B-NP +Corp. NNP I-NP +already RB B-ADVP +has VBZ B-VP +branches NNS B-NP +in IN B-PP +the DT B-NP +area NN I-NP +, , O +and CC O +selling VBG B-VP +the DT B-NP +Trustcorp NNP I-NP +offices NNS I-NP +could MD B-VP +avoid VB I-VP +a DT B-NP +problem NN I-NP +with IN B-PP +regulators NNS B-NP +over IN B-PP +excessive JJ B-NP +concentration NN I-NP +of IN B-PP +banking NN B-NP +in IN B-PP +the DT B-NP +two CD I-NP +counties NNS I-NP +after IN B-PP +the DT B-NP +merger NN I-NP +of IN B-PP +Trustcorp NNP B-NP +into IN B-PP +Society NNP B-NP +, , O +according VBG B-PP +to TO B-PP +industry NN B-NP +sources NNS I-NP +. . O + +The DT B-NP +merger NN I-NP +is VBZ B-VP +scheduled VBN I-VP +to TO I-VP +take VB I-VP +place NN B-NP +in IN B-PP +the DT B-NP +1990 CD I-NP +first JJ I-NP +quarter NN I-NP +. . O + +Stock-market NN B-NP +fears NNS I-NP +and CC O +relatively RB B-NP +more RBR I-NP +attractive JJ I-NP +interest NN I-NP +rates NNS I-NP +pushed VBD B-VP +money-market JJ B-NP +mutual JJ I-NP +fund NN I-NP +assets NNS I-NP +up IN B-ADVP +$ $ B-NP +6.07 CD I-NP +billion CD I-NP +in IN B-PP +the DT B-NP +latest JJS I-NP +week NN I-NP +, , O +the DT B-NP +sharpest JJS I-NP +increase NN I-NP +in IN B-PP +almost RB B-NP +two CD I-NP +years NNS I-NP +. . O + +The DT B-NP +473 CD I-NP +funds NNS I-NP +tracked VBN B-VP +by IN B-PP +the DT B-NP +Investment NNP I-NP +Company NNP I-NP +Institute NNP I-NP +, , O +a DT B-NP +Washington-based JJ I-NP +trade NN I-NP +group NN I-NP +, , O +rose VBD B-VP +to TO B-PP +$ $ B-NP +356.1 CD I-NP +billion CD I-NP +, , O +a DT B-NP +record NN I-NP +. . O + +The DT B-NP +$ $ I-NP +6.07 CD I-NP +billion CD I-NP +increase NN I-NP +was VBD B-VP +the DT B-NP +strongest JJS I-NP +weekly JJ I-NP +inflow NN I-NP +since IN B-PP +January NNP B-NP +1988 CD I-NP +. . O + +The DT B-NP +increase NN I-NP +was VBD B-VP +spread NN I-VP +fairly RB B-ADVP +evenly RB I-ADVP +among IN B-PP +all DT B-NP +three CD I-NP +types NNS I-NP +of IN B-PP +funds NNS B-NP +. . O + +Individual JJ B-NP +investors NNS I-NP +, , O +represented VBN B-VP +in IN B-PP +the DT B-NP +general-purpose JJ I-NP +and CC I-NP +broker-dealer NN I-NP +fund NN I-NP +categories NNS I-NP +, , O +pulled VBD B-VP +money NN B-NP +from IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +after IN B-PP +its PRP$ B-NP +big JJ I-NP +drop NN I-NP +last JJ B-NP +Friday NNP I-NP +and CC O +put VB B-VP +the DT B-NP +money NN I-NP +into IN B-PP +funds NNS B-NP +, , O +said VBD B-VP +Jacob NNP B-NP +Dreyer NNP I-NP +, , O +vice NN B-NP +president NN I-NP +and CC O +chief JJ B-NP +economist NN I-NP +of IN B-PP +the DT B-NP +Institute NNP I-NP +. . O + +`` `` O +Insitutional JJ B-NP +investors NNS I-NP +, , O +on IN B-PP +the DT B-NP +other JJ I-NP +hand NN I-NP +, , O +reacted VBD B-VP +to TO B-PP +the DT B-NP +steep JJ I-NP +decline NN I-NP +in IN B-PP +yields NNS B-NP +on IN B-PP +direct JJ B-NP +money-market JJ I-NP +instruments NNS I-NP +following VBG B-PP +the DT B-NP +stock-market NN I-NP +decline NN I-NP +last JJ B-NP +Friday NNP I-NP +, , O +'' '' O +Mr. NNP B-NP +Dreyer NNP I-NP +said VBD B-VP +. . O + +Yields NNS B-NP +on IN B-PP +money NN B-NP +funds NNS I-NP +dropped VBD B-VP +in IN B-PP +the DT B-NP +week NN I-NP +ended VBN B-VP +Tuesday NNP B-NP +, , O +according VBG B-PP +to TO B-PP +Donoghue NNP B-NP +'s POS B-NP +Money NNP I-NP +Fund NNP I-NP +Report NNP I-NP +, , O +a DT B-NP +Holliston NNP I-NP +, , I-NP +Mass. NNP I-NP +, , I-NP +newsletter NN I-NP +. . O + +The DT B-NP +average JJ I-NP +seven-day JJ I-NP +compounded VBN I-NP +yield VB I-NP +fell VBD B-VP +to TO B-PP +8.55 CD B-NP +% NN I-NP +from IN B-PP +8.60 CD B-NP +% NN I-NP +the DT B-NP +week NN I-NP +earlier RBR B-ADVP +, , O +Donoghue NNP B-NP +'s POS B-NP +said VBD B-VP +. . O + +At IN B-PP +the DT B-NP +auction NN I-NP +of IN B-PP +six-month JJ B-NP +U.S. NNP I-NP +Treasury NNP I-NP +bills NNS I-NP +on IN B-PP +Monday NNP B-NP +, , O +the DT B-NP +average JJ I-NP +yield NN I-NP +fell VBD B-VP +to TO B-PP +7.61 CD B-NP +% NN I-NP +from IN B-PP +7.82 CD B-NP +% NN I-NP +. . O + +Likewise RB B-ADVP +, , O +certificates NNS B-NP +of IN B-PP +deposit NN B-NP +on IN B-PP +average NN B-ADJP +posted VBD B-VP +lower JJR B-NP +yields NNS I-NP +in IN B-PP +the DT B-NP +week NN I-NP +ended VBN B-VP +Tuesday NNP B-NP +. . O + +The DT B-NP +142 CD I-NP +institutional-type JJ I-NP +money NN I-NP +funds NNS I-NP +rose VBD B-VP +$ $ B-NP +2.23 CD I-NP +billion CD I-NP +to TO B-PP +$ $ B-NP +85.49 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +235 CD I-NP +general-purpose JJ I-NP +funds NNS I-NP +increased VBN B-VP +$ $ B-NP +2.53 CD I-NP +billion CD I-NP +to TO B-PP +$ $ B-NP +116.56 CD I-NP +billion CD I-NP +, , O +while IN B-SBAR +96 CD B-NP +broker-dealer NN I-NP +funds NNS I-NP +increased VBN B-VP +$ $ B-NP +1.3 CD I-NP +billion CD I-NP +to TO B-PP +$ $ B-NP +154.05 CD I-NP +billion CD I-NP +. . O + +Domestic JJ B-NP +lending NN I-NP +for IN B-PP +real JJ B-NP +estate NN I-NP +and CC I-NP +property NN I-NP +development NN I-NP +was VBD B-VP +the DT B-NP +source NN I-NP +of IN B-PP +Bank NNP B-NP +Bumiputra NNP I-NP +Malaysia NNP I-NP +Bhd. NNP I-NP +'s POS B-NP +most RBS B-ADJP +recent JJ I-ADJP +spate NN B-NP +of IN B-PP +financial JJ B-NP +troubles NNS I-NP +, , O +the DT B-NP +institution NN I-NP +'s POS B-NP +executive JJ I-NP +chairman NN I-NP +, , O +Mohamed NNP B-NP +Basir NNP I-NP +Ismail NNP I-NP +, , O +said VBD B-VP +. . O + +Speaking VBG B-VP +to TO B-PP +reporters NNS B-NP +this DT B-NP +week NN I-NP +after IN B-SBAR +Bank NNP B-NP +Bumiputra NNP I-NP +'s POS B-NP +shareholders NNS I-NP +approved VBD B-VP +a DT B-NP +rescue NN I-NP +plan NN I-NP +, , O +Tan NNP B-NP +Sri NNP I-NP +Basir NNP I-NP +said VBD B-VP +heavy JJ B-NP +lending NN I-NP +to TO B-PP +the DT B-NP +property NN I-NP +sector NN I-NP +rocked VBD B-VP +the DT B-NP +bank NN I-NP +when WRB B-ADVP +property NN B-NP +prices NNS I-NP +in IN B-PP +Malaysia NNP B-NP +plummeted VBD B-VP +in IN B-PP +1984-85 CD B-NP +. . O + +He PRP B-NP +said VBD B-VP +the DT B-NP +bank NN I-NP +could MD B-VP +n't RB I-VP +wait VB I-VP +any RB B-ADVP +longer RB I-ADVP +for IN B-SBAR +prices NNS B-NP +to TO B-VP +recover VB I-VP +and CC O +for IN B-SBAR +borrowers NNS B-NP +to TO B-VP +service VB I-VP +their PRP$ B-NP +loans NNS I-NP +. . O + +So RB O +the DT B-NP +bank NN I-NP +'s POS B-NP +board NN I-NP +decided VBD B-VP +to TO I-VP +make VB I-VP +1.23 CD B-NP +billion CD I-NP +Malaysian JJ I-NP +dollars NNS I-NP +-LRB- ( O +US$ $ B-NP +457 CD I-NP +million CD I-NP +-RRB- ) O +in IN B-PP +provisions NNS B-NP +for IN B-PP +interest NN B-NP +payments NNS I-NP +from IN B-PP +loans NNS B-NP +previously RB B-VP +recorded VBN I-VP +as IN B-PP +revenue NN B-NP +but CC O +never RB B-VP +actually RB I-VP +received VBN I-VP +by IN B-PP +the DT B-NP +bank NN I-NP +, , O +and CC O +to TO B-VP +submit VB I-VP +a DT B-NP +bailout NN I-NP +package NN I-NP +to TO B-VP +replenish VB I-VP +the DT B-NP +bank NN I-NP +'s POS B-NP +paid-up JJ I-NP +capital NN I-NP +. . O + +The DT B-NP +predicament NN I-NP +, , O +he PRP B-NP +added VBD B-VP +, , O +was VBD B-VP +similar JJ B-ADJP +to TO B-PP +the DT B-NP +Hong NNP I-NP +Kong NNP I-NP +1982-83 CD I-NP +property-price JJ I-NP +collapse NN I-NP +, , O +which WDT B-NP +exposed VBD B-VP +the DT B-NP +involvement NN I-NP +of IN B-PP +Bank NNP B-NP +Bumiputra NNP I-NP +'s POS B-NP +former JJ I-NP +subsidiary NN I-NP +in IN B-PP +the DT B-NP +colony NN I-NP +in IN B-PP +the DT B-NP +largest JJS I-NP +banking NN I-NP +scandal NN I-NP +in IN B-PP +Malaysia NNP B-NP +'s POS B-NP +history NN I-NP +. . O + +The DT B-NP +subsidiary NN I-NP +, , O +Bumiputra NNP B-NP +Malaysia NNP I-NP +Finance NNP I-NP +Ltd. NNP I-NP +, , O +was VBD B-VP +left VBN I-VP +with IN B-PP +M$ $ B-NP +2.26 CD I-NP +billion CD I-NP +in IN B-PP +bad JJ B-NP +loans NNS I-NP +made VBN B-VP +to TO B-PP +Hong NNP B-NP +Kong NNP I-NP +property NN I-NP +speculators NNS I-NP +. . O + +Both DT B-NP +episodes NNS I-NP +wiped VBD B-VP +out IN B-PRT +Bank NNP B-NP +Bumiputra NNP I-NP +'s POS B-NP +shareholders NNS I-NP +' POS B-NP +funds NNS I-NP +. . O + +Each DT B-NP +time NN I-NP +, , O +the DT B-NP +bank NN I-NP +'s POS B-NP +90 CD B-ADJP +% NN I-ADJP +shareholder NN B-NP +-- : O +Petroliam NNP B-NP +Nasional NNP I-NP +Bhd. NNP I-NP +, , O +or CC O +Petronas NNP B-NP +, , O +the DT B-NP +national JJ I-NP +oil NN I-NP +company NN I-NP +-- : O +has VBZ B-VP +been VBN I-VP +called VBN I-VP +upon IN B-PP +to TO B-VP +rescue VB I-VP +the DT B-NP +institution NN I-NP +. . O + +In IN B-PP +five CD B-NP +years NNS I-NP +, , O +Petronas NNP B-NP +, , O +which WDT B-NP +became VBD B-VP +the DT B-NP +dominant JJ I-NP +shareholder NN I-NP +in IN B-PP +a DT B-NP +1984 CD I-NP +rescue NN I-NP +exercise NN I-NP +, , O +has VBZ B-VP +spent VBN I-VP +about IN B-NP +M$ $ I-NP +3.5 CD I-NP +billion CD I-NP +to TO B-VP +prop VB I-VP +up IN B-PRT +the DT B-NP +troubled JJ I-NP +bank NN I-NP +. . O + +Tan NNP B-NP +Sri NNP I-NP +Basir NNP I-NP +said VBD B-VP +the DT B-NP +capital NN I-NP +restructuring NN I-NP +plan NN I-NP +has VBZ B-VP +been VBN I-VP +approved VBN I-VP +by IN B-PP +Malaysia NNP B-NP +'s POS B-NP +Capital NNP I-NP +Issues NNP I-NP +Committee NNP I-NP +and CC I-NP +central JJ I-NP +bank NN I-NP +. . O + +Malaysia NNP B-NP +'s POS B-NP +High NNP I-NP +Court NNP I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +approve VB I-VP +the DT B-NP +plan NN I-NP +. . O + +Once RB O +the DT B-NP +plan NN I-NP +is VBZ B-VP +approved VBN I-VP +, , O +Tan NNP B-NP +Sri NNP I-NP +Basir NNP I-NP +said VBD B-VP +, , O +most RBS B-NP +of IN B-PP +Bank NNP B-NP +Bumiputra NNP I-NP +'s POS B-NP +nonperforming JJ I-NP +loans NNS I-NP +will MD B-VP +have VB I-VP +been VBN I-VP +fully RB I-VP +provided VBN I-VP +for IN B-PP +and CC O +the DT B-NP +bank NN I-NP +will MD B-VP +be VB I-VP +on IN B-PP +track NN B-NP +to TO B-VP +report VB I-VP +a DT B-NP +pretax JJ I-NP +profit NN I-NP +of IN B-PP +between IN B-NP +M$ $ I-NP +160 CD I-NP +million CD I-NP +and CC I-NP +M$ $ I-NP +170 CD I-NP +million CD I-NP +for IN B-PP +the DT B-NP +fiscal JJ I-NP +year NN I-NP +ending VBG B-VP +March NNP B-NP +31 CD I-NP +. . O + +For IN B-PP +the DT B-NP +previous JJ I-NP +financial JJ I-NP +year NN I-NP +, , O +the DT B-NP +bank NN I-NP +would MD B-VP +have VB I-VP +reported VBN I-VP +a DT B-NP +pretax JJ I-NP +profit NN I-NP +of IN B-PP +M$ $ B-NP +168 CD I-NP +million CD I-NP +if IN B-SBAR +it PRP B-NP +had VBD B-VP +n't RB I-VP +made VBN I-VP +provisions NNS B-NP +for IN B-PP +the DT B-NP +nonperforming JJ I-NP +loans NNS I-NP +, , O +he PRP B-NP +said VBD B-VP +. . O + +Malaysia NNP B-NP +'s POS B-NP +Banking NNP I-NP +Secrecy NNP I-NP +Act NNP I-NP +prohibited VBD B-VP +the DT B-NP +bank NN I-NP +from IN B-PP +identifying VBG B-VP +delinquent JJ B-NP +borrowers NNS I-NP +, , O +said VBD B-VP +Tan NNP B-NP +Sri NNP I-NP +Basir NNP I-NP +. . O + +But CC O +public JJ B-NP +documents NNS I-NP +indicate VBP B-VP +10 CD B-NP +% NN I-NP +or CC I-NP +more JJR I-NP +of IN B-PP +the DT B-NP +bank NN I-NP +'s POS B-NP +provisions NNS I-NP +were VBD B-VP +made VBN I-VP +for IN B-PP +foregone JJ B-NP +interest NN I-NP +on IN B-PP +a DT B-NP +M$ $ I-NP +200 CD I-NP +million CD I-NP +loan NN I-NP +to TO B-PP +Malaysia NNP B-NP +'s POS B-NP +dominant JJ I-NP +political JJ I-NP +party NN I-NP +, , O +the DT B-NP +United NNP I-NP +Malays NNP I-NP +National NNP I-NP +Organization NNP I-NP +, , O +to TO B-VP +build VB I-VP +its PRP$ B-NP +convention NN I-NP +and CC I-NP +headquarters NN I-NP +complex JJ I-NP +in IN B-PP +Kuala NNP B-NP +Lumpur NNP I-NP +. . O + +The DT B-NP +loan NN I-NP +to TO B-PP +UMNO NNP B-NP +was VBD B-VP +made VBN I-VP +in IN B-PP +September NNP B-NP +1983 CD I-NP +. . O + +`` `` O +We PRP B-NP +lent VBD B-VP +a DT B-NP +lot NN I-NP +of IN B-PP +money NN B-NP +all DT B-NP +over IN B-PP +the DT B-NP +place NN I-NP +, , O +'' '' O +said VBD B-VP +Tan NNP B-NP +Sri NNP I-NP +Basir NNP I-NP +, , O +who WP B-NP +refused VBD B-VP +to TO I-VP +discuss VB I-VP +the DT B-NP +bank NN I-NP +'s POS B-NP +outstanding JJ I-NP +loans NNS I-NP +to TO O + +As RB B-PP +well RB I-PP +as IN I-PP +the DT B-NP +M$ $ I-NP +1.23 CD I-NP +billion CD I-NP +in IN B-PP +provisions NNS B-NP +announced VBD B-VP +on IN B-PP +Oct. NNP B-NP +6 CD I-NP +, , O +the DT B-NP +restructuring NN I-NP +package NN I-NP +covers VBZ B-VP +an DT B-NP +additional JJ I-NP +M$ $ I-NP +450 CD I-NP +million CD I-NP +in IN B-PP +provisions NNS B-NP +made VBN B-VP +in IN B-PP +earlier JJR B-NP +years NNS I-NP +but CC O +never RB B-VP +reflected VBD I-VP +in IN B-PP +a DT B-NP +reduction NN I-NP +of IN B-PP +the DT B-NP +bank NN I-NP +'s POS B-NP +paid-up JJ I-NP +capital NN I-NP +. . O + +At IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +exercise NN I-NP +, , O +the DT B-NP +cash NN I-NP +injection NN I-NP +from IN B-PP +Petronas NNP B-NP +will MD B-VP +increase VB I-VP +the DT B-NP +bank NN I-NP +'s POS B-NP +paid-up JJ I-NP +capital NN I-NP +to TO B-PP +M$ $ B-NP +1.15 CD I-NP +billion CD I-NP +after IN B-PP +virtually RB B-ADVP +being VBG B-VP +wiped VBN I-VP +out IN B-PRT +by IN B-PP +the DT B-NP +new JJ I-NP +provisions NNS I-NP +. . O + +Heidi NNP B-NP +Ehman NNP I-NP +might MD B-VP +have VB I-VP +stepped VBN I-VP +from IN B-PP +a DT B-NP +recruiting VBG I-NP +poster NN I-NP +for IN B-PP +young JJ B-NP +Republicans NNPS I-NP +. . O + +White NNP B-ADJP +, , O +24 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +a DT B-NP +singer NN I-NP +in IN B-PP +her PRP$ B-NP +church NN I-NP +choir NN I-NP +, , O +she PRP B-NP +symbolizes VBZ B-VP +a DT B-NP +generation NN I-NP +that WDT B-NP +gave VBD B-VP +its PRP$ B-NP +heart NN I-NP +and CC O +its PRP$ B-NP +vote NN I-NP +to TO B-PP +Ronald NNP B-NP +Reagan NNP I-NP +. . O + +`` `` O +I PRP B-NP +felt VBD B-VP +kind NN B-ADJP +of IN I-ADJP +safe JJ I-ADJP +, , O +'' '' O +she PRP B-NP +says VBZ B-VP +. . O + +No RB B-ADVP +longer RB I-ADVP +. . O + +When WRB B-ADVP +the DT B-NP +Supreme NNP I-NP +Court NNP I-NP +opened VBD B-VP +the DT B-NP +door NN I-NP +this DT B-NP +year NN I-NP +to TO B-PP +new JJ B-NP +restrictions NNS I-NP +on IN B-PP +abortion NN B-NP +, , O +Ms. NNP B-NP +Ehman NNP I-NP +opened VBD B-VP +her PRP$ B-NP +mind NN I-NP +to TO B-PP +Democratic JJ B-NP +politics NNS I-NP +. . O + +Then RB B-ADVP +a DT B-NP +political JJ I-NP +novice NN I-NP +, , O +she PRP B-NP +stepped VBD B-VP +into IN B-PP +a DT B-NP +whirl NN I-NP +of IN B-PP +`` `` B-NP +pro-choice JJ I-NP +'' '' I-NP +marches NNS I-NP +, , O +house NN B-NP +parties NNS I-NP +and CC O +fund-raisers NNS B-NP +. . O + +Now RB B-ADVP +she PRP B-NP +leads VBZ B-VP +a DT B-NP +grassroots NNS I-NP +abortion-rights NNS I-NP +campaign NN I-NP +in IN B-PP +Passaic NNP B-NP +County NNP I-NP +for IN B-PP +pro-choice JJ B-NP +Democratic JJ I-NP +gubernatorial JJ I-NP +candidate NN I-NP +James NNP I-NP +Florio NNP I-NP +. . O + +`` `` O +This DT B-NP +is VBZ B-VP +one CD B-NP +where WRB B-ADVP +I PRP B-NP +cross VBP B-VP +party NN B-NP +lines NNS I-NP +, , O +'' '' O +she PRP B-NP +says VBZ B-VP +, , O +rejecting VBG B-VP +the DT B-NP +anti-abortion JJ I-NP +stance NN I-NP +of IN B-PP +Rep. NNP B-NP +Florio NNP I-NP +'s POS B-NP +opponent NN I-NP +, , O +Reagan-Republican JJ B-NP +Rep. NNP I-NP +James NNP I-NP +Courter NNP I-NP +. . O + +`` `` O +People NNS B-NP +my PRP$ B-NP +age NN I-NP +thought VBD B-VP +it PRP B-NP +was VBD B-VP +n't RB I-VP +going VBG I-VP +to TO I-VP +be VB I-VP +an DT B-NP +issue NN I-NP +. . O + +Now RB B-ADVP +it PRP B-NP +has VBZ B-VP +-- : O +especially RB B-ADVP +for IN B-PP +people NNS B-NP +my PRP$ B-NP +age NN I-NP +. . O +'' '' O + +Polls NNS B-NP +bear VBP B-VP +out RP B-PRT +this DT B-NP +warning NN I-NP +, , O +but CC O +after IN B-PP +a DT B-NP +decade NN I-NP +of IN B-PP +increased VBN B-NP +Republican NNP I-NP +influence NN I-NP +here RB B-ADVP +, , O +the DT B-NP +new JJ I-NP +politics NNS I-NP +of IN B-PP +abortion NN B-NP +have VBP B-VP +contributed VBN I-VP +to TO B-PP +a DT B-NP +world NN I-NP +turned VBD B-VP +upside RB B-ADVP +down RB I-ADVP +for IN B-PP +Mr. NNP B-NP +Courter NNP I-NP +. . O + +Unless IN B-SBAR +he PRP B-NP +closes VBZ B-VP +the DT B-NP +gap NN I-NP +, , O +Republicans NNPS B-NP +risk NN B-VP +losing VBG I-VP +not RB B-CONJP +only RB I-CONJP +the DT B-NP +governorship NN I-NP +but CC B-CONJP +also RB I-CONJP +the DT B-NP +assembly NN I-NP +next JJ B-NP +month NN I-NP +. . O + +Going VBG B-VP +into IN B-PP +the DT B-NP +1990s CD I-NP +, , O +the DT B-NP +GOP NNP I-NP +is VBZ B-VP +paying VBG I-VP +a DT B-NP +price NN I-NP +for IN B-PP +the DT B-NP +same JJ I-NP +conservative JJ I-NP +social JJ I-NP +agenda NN I-NP +that IN B-NP +it PRP B-NP +used VBD B-VP +to TO B-VP +torment VB I-VP +Democrats NNPS B-NP +in IN B-PP +the DT B-NP +past NN I-NP +. . O + +This DT B-NP +change NN I-NP +comes VBZ B-VP +less JJR B-ADVP +from IN B-PP +a DT B-NP +shift NN I-NP +in IN B-PP +public JJ B-NP +opinion NN I-NP +, , O +which WDT B-NP +has VBZ B-VP +n't RB I-VP +changed VBN I-VP +much JJ B-ADVP +on IN B-PP +abortion NN B-NP +over IN B-PP +the DT B-NP +past JJ I-NP +decade NN I-NP +, , O +than IN B-PP +in IN B-PP +the DT B-NP +boundaries NNS I-NP +of IN B-PP +the DT B-NP +debate NN I-NP +. . O + +New NNP B-NP +Jersey NNP I-NP +'s POS B-NP +own JJ I-NP +highest JJS I-NP +court NN I-NP +remains VBZ B-VP +a DT B-NP +liberal JJ I-NP +bulwark NN I-NP +against IN B-PP +major JJ B-NP +restrictions NNS I-NP +on IN B-PP +abortion NN B-NP +, , O +but CC O +the DT B-NP +U.S. NNP I-NP +Supreme NNP I-NP +Court NNP I-NP +ruling NN I-NP +, , O +Webster NNP B-NP +vs. IN I-NP +Missouri NNP I-NP +, , O +has VBZ B-VP +engaged VBN I-VP +voters NNS B-NP +across IN B-PP +the DT B-NP +nation NN I-NP +who WP B-NP +had VBD B-VP +been VBN I-VP +insulated VBN I-VP +from IN B-PP +the DT B-NP +issue NN I-NP +. . O + +Before IN B-PP +July NNP B-NP +, , O +pro-choice JJ B-NP +voters NNS I-NP +could MD B-VP +safely RB I-VP +make VB I-VP +political JJ B-NP +decisions NNS I-NP +without IN B-PP +focusing VBG B-VP +narrowly RB B-ADVP +on IN B-PP +abortion NN B-NP +. . O + +Now RB B-ADVP +, , O +the DT B-NP +threat NN I-NP +of IN B-PP +further JJ B-NP +restrictions NNS I-NP +adds VBZ B-VP +a DT B-NP +new JJ I-NP +dimension NN I-NP +, , O +bringing VBG B-VP +an DT B-NP +upsurge NN I-NP +in IN B-PP +political JJ B-NP +activity NN I-NP +by IN B-PP +abortion-rights NNS B-NP +forces NNS I-NP +. . O + +A DT B-NP +recent JJ I-NP +pro-choice JJ I-NP +rally NN I-NP +in IN B-PP +Trenton NNP B-NP +drew VBD B-VP +thousands NNS B-NP +, , O +and CC O +in IN B-PP +a DT B-NP +major JJ I-NP +reversal NN I-NP +, , O +Congress NNP B-NP +is VBZ B-VP +defying VBG I-VP +a DT B-NP +presidential JJ I-NP +veto NN I-NP +and CC O +demanding VBG B-VP +that IN B-SBAR +Medicaid NNP B-NP +abortions NNS I-NP +be VBP B-VP +permitted VBN I-VP +in IN B-PP +cases NNS B-NP +of IN B-PP +rape NN B-NP +and CC I-NP +incest NN I-NP +. . O + +`` `` O +If IN B-SBAR +Webster NNP B-NP +had VBD B-VP +n't RB I-VP +happened VBN I-VP +, , O +you PRP B-NP +would MD B-VP +n't RB I-VP +be VB I-VP +here RB B-ADVP +, , O +'' '' O +Linda NNP B-NP +Bowker NNP I-NP +tells VBZ B-VP +a DT B-NP +reporter NN I-NP +in IN B-PP +the DT B-NP +Trenton NNP I-NP +office NN I-NP +of IN B-PP +the DT B-NP +National NNP I-NP +Organization NNP I-NP +for IN B-PP +Women NNP B-NP +. . O + +`` `` O +We PRP B-NP +could MD B-VP +have VB I-VP +shouted VBN I-VP +from IN B-PP +the DT B-NP +rooftops NNS I-NP +about IN B-PP +Courter NNP B-NP +... : O +and CC O +no DT B-NP +one PRP I-NP +would MD B-VP +have VB I-VP +heard VBN I-VP +us PRP B-NP +. . O +'' '' O + +New NNP B-NP +Jersey NNP I-NP +is VBZ B-VP +a DT B-NP +proving VBG I-NP +ground NN I-NP +for IN B-PP +this DT B-NP +aggressive JJ I-NP +women's-rights JJ I-NP +movement NN I-NP +this DT B-NP +year NN I-NP +. . O + +The DT B-NP +infusion NN I-NP +of IN B-PP +activists NNS B-NP +can MD B-VP +bring VB I-VP +a DT B-NP +clash NN I-NP +of IN B-PP +cultures NNS B-NP +. . O + +In IN B-PP +Cherry NNP B-NP +Hill NNP I-NP +, , O +the DT B-NP +National NNP I-NP +Abortion NNP I-NP +Rights NNP I-NP +Action NNP I-NP +League NNP I-NP +, , O +whose WP$ B-NP +goal NN I-NP +is VBZ B-VP +to TO B-VP +sign VB I-VP +up IN B-PRT +50,000 CD B-NP +pro-choice JJ I-NP +voters NNS I-NP +, , O +targets VBZ B-VP +a DT B-NP +union NN I-NP +breakfast NN I-NP +to TO B-VP +build VB I-VP +labor NN B-NP +support NN I-NP +for IN B-PP +its PRP$ B-NP +cause NN I-NP +. . O + +The DT B-NP +league NN I-NP +organizers NNS I-NP +seem VBP B-VP +more JJR B-ADVP +a DT B-NP +fit NN I-NP +with IN B-PP +a DT B-NP +convention NN I-NP +next JJ B-ADVP +door NN I-ADVP +of IN B-PP +young JJ B-NP +aerobics NN I-NP +instructors NNS I-NP +in IN B-PP +leotards NNS B-NP +than IN B-PP +the DT B-NP +beefy JJ I-NP +union NN I-NP +leaders NNS I-NP +; : O +`` `` O +I PRP B-NP +wish VBP B-VP +I PRP B-NP +could MD B-VP +go VB I-VP +work NN I-VP +out IN B-PRT +, , O +'' '' O +says VBZ B-VP +a DT B-NP +slim JJ I-NP +activist NN I-NP +. . O + +A DT B-NP +labor NN I-NP +chief NN I-NP +speaks VBZ B-VP +sardonically RB B-ADVP +of IN B-PP +having VBG B-VP +to TO I-VP +`` `` I-VP +man NN I-VP +and CC I-VP +woman NN I-VP +'' '' O +Election NNP B-NP +Day NNP I-NP +phones NNS I-NP +. . O + +No DT B-NP +age NN I-NP +group NN I-NP +is VBZ B-VP +more RBR B-ADJP +sensitive JJ I-ADJP +than IN B-PP +younger JJR B-NP +voters NNS I-NP +, , O +like IN B-PP +Ms. NNP B-NP +Ehman NNP I-NP +. . O + +A DT B-NP +year NN I-NP +ago RB B-ADVP +this DT B-NP +fall NN I-NP +, , O +New NNP B-NP +Jersey NNP I-NP +voters NNS I-NP +under IN B-PP +30 CD B-NP +favored VBN B-VP +George NNP B-NP +Bush NNP I-NP +by IN B-PP +56 CD B-NP +% NN I-NP +to TO I-NP +39 CD I-NP +% NN I-NP +over IN B-PP +Michael NNP B-NP +Dukakis NNP I-NP +, , O +according VBG B-PP +to TO B-PP +a DT B-NP +survey NN I-NP +then RB B-ADVP +by IN B-PP +Rutgers NNP B-NP +University NNP I-NP +'s POS B-NP +Eagleton NNP I-NP +Institute NNP I-NP +. . O + +A DT B-NP +matching VBG I-NP +Eagleton-Newark NNP I-NP +Star NNP I-NP +Ledger NNP I-NP +poll NN I-NP +last JJ B-NP +month NN I-NP +showed VBD B-VP +a DT B-NP +complete JJ I-NP +reversal NN I-NP +. . O + +Voters NNS B-NP +in IN B-PP +the DT B-NP +same JJ I-NP +age NN I-NP +group NN I-NP +backed VBN B-VP +Democrat NNP B-NP +Florio NNP I-NP +55 NN B-NP +% NN I-NP +to TO I-NP +29 CD I-NP +% NN I-NP +over IN B-PP +Republican NNP B-NP +Courter NNP I-NP +. . O + +Abortion NNP B-NP +alone RB B-ADVP +ca MD B-VP +n't RB I-VP +explain VB I-VP +this DT B-NP +shift NN I-NP +, , O +but CC O +New NNP B-NP +Jersey NNP I-NP +is VBZ B-VP +a DT B-NP +model NN I-NP +of IN B-PP +how WRB B-ADVP +so RB B-NP +personal JJ I-NP +an DT I-NP +issue NN I-NP +can MD B-VP +become VB I-VP +a DT B-NP +baseline NN I-NP +of IN B-PP +sorts NNS B-NP +in IN B-PP +judging VBG B-VP +a DT B-NP +candidate NN I-NP +. . O + +By IN B-PP +a DT B-NP +2-to-1 JJ I-NP +ratio NN I-NP +, , O +voters NNS B-NP +appear VBP B-VP +more JJR B-ADVP +at IN B-PP +ease NN B-NP +with IN B-PP +Mr. NNP B-NP +Florio NNP I-NP +'s POS B-NP +stance NN I-NP +on IN B-PP +abortion NN B-NP +, , O +and CC O +polls NNS B-NP +indicate VBP B-VP +his PRP$ B-NP +lead NN I-NP +widens VBZ B-VP +when WRB B-ADVP +the DT B-NP +candidates NNS I-NP +are VBP B-VP +specifically RB I-VP +linked VBN I-VP +to TO B-PP +the DT B-NP +issue NN I-NP +. . O + +`` `` O +The DT B-NP +times NNS I-NP +are VBP B-VP +my PRP$ B-NP +times NNS I-NP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Florio NNP I-NP +. . O + +The DT B-NP +Camden NNP I-NP +County NNP I-NP +congressman NN I-NP +still RB B-ADVP +carries VBZ B-VP +himself PRP B-NP +with IN B-PP +a DT B-NP +trademark NN I-NP +`` `` I-NP +I'm-coming-down-your-throat JJ I-NP +'' '' I-NP +intensity NN I-NP +, , O +but CC O +at IN B-PP +a DT B-NP +pause NN I-NP +in IN B-PP +Newark NNP B-NP +'s POS B-NP +Columbus NNP I-NP +Day NNP I-NP +parade NN I-NP +recently RB B-ADVP +, , O +he PRP B-NP +was VBD B-VP +dancing VBG I-VP +with IN B-PP +his PRP$ B-NP +wife NN I-NP +in IN B-PP +the DT B-NP +middle NN I-NP +of IN B-PP +the DT B-NP +avenue NN I-NP +in IN B-PP +the DT B-NP +city NN I-NP +'s POS B-NP +old JJ I-NP +Italian-American JJ I-NP +ward NN I-NP +. . O + +After IN B-PP +losing VBG B-VP +by IN B-PP +fewer JJR B-NP +than IN I-NP +1,800 CD I-NP +votes NNS I-NP +in IN B-PP +the DT O +1981 CD O +governor NN B-NP +'s POS B-NP +race NN I-NP +, , O +he PRP B-NP +has VBZ B-VP +prepared VBN I-VP +himself PRP B-NP +methodically RB B-ADVP +for IN B-PP +this DT B-NP +moment NN I-NP +, , O +including VBG B-PP +deciding VBG B-VP +in IN B-PP +recent JJ B-NP +years NNS I-NP +he PRP B-NP +could MD B-VP +no RB I-VP +longer RB I-VP +support VB I-VP +curbs NNS B-NP +on IN B-PP +federal JJ B-NP +funding NN I-NP +for IN B-PP +Medicaid NNP B-NP +abortions NNS I-NP +. . O + +`` `` O +If IN B-SBAR +you PRP B-NP +'re VBP B-VP +going VBG I-VP +to TO I-VP +be VB I-VP +consistent JJ B-ADJP +and CC O +say VBP B-VP +it PRP B-NP +is VBZ B-VP +a DT B-NP +constitutionally RB I-NP +protected VBN I-NP +right NN I-NP +, , O +'' '' O +he PRP B-NP +asks VBZ B-VP +, , O +`` `` O +how WRB B-ADVP +are VBP O +you PRP B-NP +going VBG B-VP +to TO I-VP +say VB I-VP +an DT B-NP +upscale JJ I-NP +woman NN I-NP +who WP B-NP +can MD B-VP +drive VB I-VP +to TO B-PP +the DT B-NP +hospital NN I-NP +or CC I-NP +clinic NN I-NP +in IN B-PP +a DT B-NP +nice JJ I-NP +car NN I-NP +has VBZ B-VP +a DT B-NP +constitutional JJ I-NP +right NN I-NP +and CC O +someone NN B-NP +who WP B-NP +is VBZ B-VP +not RB O +in IN B-PP +great JJ B-NP +shape NN I-NP +financially RB B-ADVP +does VBZ B-VP +not RB O +? . O +'' '' O + +Mr. NNP B-NP +Courter NNP I-NP +, , O +by IN B-PP +comparison NN B-NP +, , O +seems VBZ B-VP +a DT B-NP +shadow NN I-NP +of IN B-PP +the DT B-NP +confident JJ I-NP +hawk NN I-NP +who WP B-NP +defended VBD B-VP +Oliver NNP B-NP +North NNP I-NP +before IN B-PP +national JJ B-NP +cameras NNS I-NP +at IN B-PP +Iran-Contra NNP B-NP +hearings NNS I-NP +two CD B-NP +years NNS I-NP +ago RB B-ADVP +. . O + +Looking VBG B-VP +back RB B-ADVP +, , O +he PRP B-NP +says VBZ B-VP +he PRP B-NP +erred VBN B-VP +by IN B-PP +stating VBG B-VP +his PRP$ B-NP +`` `` I-NP +personal JJ I-NP +'' '' I-NP +opposition NN I-NP +to TO B-PP +abortion NN B-NP +instead RB B-CONJP +of IN I-CONJP +assuring VBG B-VP +voters NNS B-NP +that IN B-SBAR +he PRP B-NP +would MD B-VP +n't RB I-VP +impose VB I-VP +his PRP$ B-NP +views NNS I-NP +on IN B-PP +`` `` O +policy NN B-NP +'' '' O +as IN B-PP +governor NN B-NP +. . O + +It PRP B-NP +is VBZ B-VP +a DT B-NP +distinction NN I-NP +that WDT B-NP +satisfies VBZ B-VP +neither DT B-NP +side NN I-NP +in IN B-PP +the DT B-NP +debate NN I-NP +. . O + +`` `` O +He PRP B-NP +does VBZ B-VP +n't RB I-VP +know VB I-VP +himself PRP B-NP +, , O +'' '' O +Kathy NNP B-NP +Stanwick NNP I-NP +of IN B-PP +the DT B-NP +Abortion NNP I-NP +Rights NNP I-NP +League NNP I-NP +says NNS B-VP +of IN B-PP +Mr. NNP B-NP +Courter NNP I-NP +'s POS B-NP +position NN I-NP +. . O + +Even JJ B-NP +abortion NN I-NP +opponents NNS I-NP +, , O +however RB B-ADJP +angry JJ I-ADJP +with IN B-PP +Mr. NNP B-NP +Florio NNP I-NP +, , O +ca MD B-VP +n't RB I-VP +hide VB I-VP +their PRP$ B-NP +frustration NN I-NP +with IN B-PP +the DT B-NP +Republican NNP I-NP +'s POS B-NP +ambivalence NN I-NP +. . O + +`` `` O +He PRP B-NP +does VBZ B-VP +n't RB I-VP +want VB I-VP +to TO I-VP +lead VB I-VP +the DT B-NP +people NNS I-NP +, , O +'' '' O +says VBZ B-VP +Richard NNP B-NP +Traynor NNP I-NP +, , O +president NN B-NP +of IN B-PP +New NNP B-NP +Jersey NNP I-NP +Right NNP I-NP +to TO B-PP +Life NNP B-NP +. . O + +Moreover RB B-ADVP +, , O +by IN B-PP +stepping VBG B-VP +outside IN B-PP +the DT B-NP +state NN I-NP +'s POS B-NP +pro-choice JJ I-NP +tradition NN I-NP +, , O +Mr. NNP B-NP +Courter NNP I-NP +aggravates VBZ B-VP +fears NNS B-NP +that IN B-SBAR +he PRP B-NP +is VBZ B-VP +too RB B-ADJP +conservative JJ I-ADJP +as IN B-ADVP +well RB I-ADVP +on IN B-PP +more JJR B-NP +pressing VBG I-NP +concerns NNS I-NP +such JJ B-PP +as IN I-PP +auto NN B-NP +insurance NN I-NP +rates NNS I-NP +and CC O +the DT B-NP +environment NN I-NP +. . O + +He PRP B-NP +hurt VBD B-VP +himself PRP B-NP +further VB B-ADVP +this DT B-NP +summer NN I-NP +by IN B-PP +bringing VBG B-VP +homosexual JJ B-NP +issues NNS I-NP +into IN B-PP +the DT B-NP +debate NN I-NP +; : O +and CC O +by IN B-PP +wavering VBG B-VP +on IN B-PP +this DT B-NP +issue NN I-NP +and CC O +abortion NN B-NP +, , O +he PRP B-NP +has VBZ B-VP +weakened VBN I-VP +his PRP$ B-NP +credibility NN I-NP +in IN B-PP +what WP B-NP +is VBZ B-VP +already RB B-ADVP +a DT B-NP +mean-spirited JJ I-NP +campaign NN I-NP +on IN B-PP +both DT B-NP +sides NNS I-NP +. . O + +Elected VBN B-VP +to TO B-PP +Congress NNP B-NP +in IN B-PP +1978 CD B-NP +, , O +the DT B-NP +48-year-old NNP I-NP +Mr. NNP I-NP +Courter NNP I-NP +is VBZ B-VP +part NN B-NP +of IN B-PP +a DT B-NP +generation NN I-NP +of IN B-PP +young JJ B-NP +conservatives NNS I-NP +who WP B-NP +were VBD B-VP +once RB B-ADVP +very RB B-ADVP +much RB I-ADVP +in IN B-PP +the DT B-NP +lead NN I-NP +of IN B-PP +the DT B-NP +rightward JJ I-NP +shift NN I-NP +under IN B-PP +Mr. NNP B-NP +Reagan NNP I-NP +. . O + +Like IN B-PP +many NN B-NP +of IN B-PP +his PRP$ B-NP +colleagues NNS I-NP +, , O +he PRP B-NP +did VBD B-VP +n't RB I-VP +serve VB I-VP +in IN B-PP +Vietnam NNP B-NP +in IN B-PP +the DT B-NP +1960s CD I-NP +yet RB O +embraced VBN B-VP +a DT B-NP +hawkish JJ I-NP +defense NN I-NP +and CC I-NP +foreign JJ I-NP +policy NN I-NP +-- : O +even JJ B-ADVP +voting NN B-VP +against IN B-PP +a DT B-NP +1984 CD I-NP +resolution NN I-NP +critical JJ B-ADJP +of IN B-PP +the DT B-NP +U.S. NNP I-NP +mining NN I-NP +of IN B-PP +Nicaraguan JJ B-NP +harbors NNS I-NP +. . O + +Jack NNP B-NP +Kemp NNP I-NP +and CC O +the DT B-NP +writers NNS I-NP +Irving NNP I-NP +Kristol NNP I-NP +and CC I-NP +George NNP I-NP +Gilder NNP I-NP +were VBD B-VP +influences NNS B-NP +, , O +and CC O +Mr. NNP B-NP +Courter NNP I-NP +'s POS B-NP +own JJ I-NP +conservative JJ I-NP +credentials NNS I-NP +proved VBD B-VP +useful JJ B-ADJP +to TO B-PP +the DT B-NP +current JJ I-NP +New NNP I-NP +Jersey NNP I-NP +GOP NNP I-NP +governor NN I-NP +, , O +Thomas NNP B-NP +Kean NNP I-NP +, , O +in IN B-PP +the DT B-NP +1981 CD I-NP +Republican NNP I-NP +primary JJ I-NP +here RB I-NP +. . O + +The DT B-NP +same JJ I-NP +partnership NN I-NP +is VBZ B-VP +now RB B-ADVP +crucial JJ B-ADJP +to TO B-PP +Mr. NNP B-NP +Courter NNP I-NP +'s POS B-NP +fortunes NNS I-NP +, , O +but CC O +the DT B-NP +abortion NN I-NP +issue NN I-NP +is VBZ B-VP +only RB B-NP +a DT I-NP +reminder NN I-NP +of IN B-PP +the DT B-NP +gap NN I-NP +between IN B-PP +his PRP$ B-NP +record NN I-NP +and CC O +that IN B-NP +of IN B-PP +the DT B-NP +more RBR B-NP +moderate JJ I-NP +, , I-NP +pro-choice JJ I-NP +Gov. NNP I-NP +Kean NNP I-NP +. . O + +While IN B-SBAR +the DT B-NP +Warren NNP I-NP +County NNP I-NP +congressman NN I-NP +pursued VBD B-VP +an DT B-NP +anti-government NN I-NP +, , I-NP +anti-tax JJ I-NP +agenda NN I-NP +in IN B-PP +Washington NNP B-NP +, , O +Gov. NNP B-NP +Kean NNP I-NP +was VBD B-VP +approving VBG I-VP +increased VBN B-NP +income NN I-NP +and CC I-NP +sales NNS I-NP +taxes NNS I-NP +at IN B-PP +home NN B-NP +and CC O +overseeing VBG B-VP +a DT B-NP +near IN I-NP +doubling VBG I-NP +in IN B-PP +the DT B-NP +size NN I-NP +of IN B-PP +New NNP B-NP +Jersey NNP I-NP +'s POS B-NP +budget NN I-NP +in IN B-PP +his PRP$ B-NP +eight CD I-NP +years NNS I-NP +in IN B-PP +office NN B-NP +. . O + +Kean NNP B-NP +forces NNS I-NP +play VBP B-VP +down RP B-PRT +any DT B-NP +differences NNS I-NP +with IN B-PP +Mr. NNP B-NP +Courter NNP I-NP +, , O +but CC O +this DT B-NP +history NN I-NP +makes VBZ B-VP +it PRP B-NP +harder JJR B-ADJP +for IN B-SBAR +the DT B-NP +conservative JJ I-NP +to TO B-VP +run VB I-VP +against IN B-PP +government NN B-NP +. . O + +Mr. NNP B-NP +Courter NNP I-NP +'s POS B-NP +free-market JJ I-NP +plan NN I-NP +to TO B-VP +bring VB I-VP +down JJ B-ADVP +auto NN B-NP +insurance NN I-NP +rates NNS I-NP +met VBD B-VP +criticism NN B-NP +from IN B-PP +Gov. NNP B-NP +Kean NNP I-NP +'s POS B-NP +own JJ I-NP +insurance NN I-NP +commissioner NN I-NP +. . O + +Mr. NNP B-NP +Courter NNP I-NP +is VBZ B-VP +further RB B-ADJP +hobbled VBN I-ADJP +by IN B-PP +a DT B-NP +record NN I-NP +of IN B-PP +votes NNS B-NP +opposed VBN B-VP +to TO B-PP +government NN B-NP +regulation NN I-NP +on IN B-PP +behalf NN B-NP +of IN B-PP +consumers NNS B-NP +. . O + +Fluent JJ B-ADJP +in IN B-PP +Spanish JJ B-NP +from IN B-PP +his PRP$ B-NP +days NNS I-NP +in IN B-PP +the DT B-NP +Peace NNP I-NP +Corps NNP I-NP +, , O +Mr. NNP B-NP +Courter NNP I-NP +actively RB B-ADVP +courts VBZ B-VP +minority NN B-NP +voters NNS I-NP +but CC O +seems VBZ B-VP +oddly RB B-ADVP +over IN B-PP +his PRP$ B-NP +head NN I-NP +. . O + +He PRP B-NP +is VBZ B-VP +warm JJ B-ADJP +and CC I-ADJP +polished VBN I-ADJP +before IN B-PP +a DT B-NP +Puerto NNP I-NP +Rican NNP I-NP +Congress NNP I-NP +in IN B-PP +Asbury NNP B-NP +Park NNP I-NP +. . O + +Yet RB O +minutes NNS B-NP +after IN B-PP +promising JJ B-VP +to TO I-VP +appoint VB I-VP +Hispanics NNPS B-NP +to TO B-PP +high JJ B-NP +posts NNS I-NP +in IN B-PP +state NN B-NP +government NN I-NP +, , O +he PRP B-NP +is VBZ B-VP +unable JJ B-ADJP +to TO B-VP +say VB I-VP +whether IN B-SBAR +he PRP B-NP +has VBZ B-VP +ever RB I-VP +employed VBN I-VP +any DT B-NP +in NN B-PP +his PRP$ B-NP +congressional JJ I-NP +office NN I-NP +. . O + +`` `` O +I PRP B-NP +do VBP B-VP +n't RB I-VP +think VB I-VP +we PRP B-NP +do VB B-VP +now RB B-ADVP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +we PRP B-NP +did VBD B-VP +. . O +'' '' O + +Asked VBN B-VP +the DT B-NP +same JJ I-NP +question NN I-NP +after IN B-PP +his PRP$ B-NP +appearance NN I-NP +, , O +Democrat NNP B-NP +Florio NNP I-NP +identifies VBZ B-VP +a DT B-NP +staff NN I-NP +member NN I-NP +by IN B-PP +name NN B-NP +and CC O +explains VBZ B-VP +her PRP$ B-NP +whereabouts NN I-NP +today NN B-NP +. . O + +When WRB B-ADVP +he PRP B-NP +is VBZ B-VP +presented VBN I-VP +with IN B-PP +a DT B-NP +poster NN I-NP +celebrating VBG B-VP +the DT B-NP +organization NN I-NP +'s POS B-NP +20th JJ I-NP +anniversary NN I-NP +, , O +he PRP B-NP +recognizes VBZ B-VP +a DT B-NP +photograph NN I-NP +of IN B-PP +one CD B-NP +of IN B-PP +the DT B-NP +founders NNS I-NP +and CC O +recalls VBZ B-VP +time NN B-NP +spent VBN B-VP +together RB B-ADVP +in IN B-PP +Camden NNP B-NP +. . O + +Details NNS B-NP +and CC I-NP +Camden NNP I-NP +are VBP B-VP +essential JJ B-NP +Florio NNP I-NP +. . O + +Elected VBN B-VP +to TO B-PP +Congress NNP B-NP +as IN B-PP +a DT B-NP +`` `` I-NP +Watergate NNP I-NP +baby NN I-NP +'' '' O +in IN B-PP +1974 CD B-NP +, , O +he PRP B-NP +ran VBD B-VP +for IN B-PP +governor NN B-NP +three CD B-NP +years NNS I-NP +later RB B-ADVP +. . O + +In IN B-PP +the DT B-NP +opinion NN I-NP +of IN B-PP +many JJ B-NP +, , O +he PRP B-NP +has VBZ B-VP +n't RB I-VP +stopped VBN I-VP +running VBG I-VP +since IN B-ADVP +, , O +even RB B-SBAR +though IN I-SBAR +he PRP B-NP +declined VBD B-VP +a DT B-NP +rematch NN I-NP +with IN B-PP +Gov. NNP B-NP +Kean NNP I-NP +in IN B-PP +1985 CD B-NP +. . O + +His PRP$ B-NP +base NN I-NP +in IN B-PP +South NNP B-NP +Jersey NNP I-NP +and CC B-PP +on IN B-PP +the DT B-NP +House NNP I-NP +Energy NNP I-NP +and CC I-NP +Commerce NNP I-NP +Committee NNP I-NP +helped VBD B-VP +him PRP B-NP +sustain VBP B-VP +a DT B-NP +network NN I-NP +of IN B-PP +political-action JJ B-NP +committees NNS I-NP +to TO B-VP +preserve VB I-VP +his PRP$ B-NP +edge NN I-NP +. . O + +With IN B-PP +limited JJ B-NP +budgets NNS I-NP +for IN B-PP +television NN B-NP +in IN B-PP +a DT B-NP +high-priced JJ I-NP +market NN I-NP +, , O +Mr. NNP B-NP +Florio NNP I-NP +'s POS B-NP +higher JJR I-NP +recognition NN I-NP +than IN B-PP +his PRP$ B-NP +rival NN I-NP +is VBZ B-VP +a DT B-NP +major JJ I-NP +advantage NN I-NP +. . O + +More RBR B-ADVP +than IN B-PP +ever RB B-ADVP +, , O +his PRP$ B-NP +pro-consumer NN I-NP +and CC I-NP +pro-environment NN I-NP +record NN I-NP +is VBZ B-VP +in IN B-PP +sync NN B-NP +with IN B-PP +the DT B-NP +state NN I-NP +. . O + +Auto NN B-NP +insurance NN I-NP +rates NNS I-NP +are VBP B-VP +soaring VBG I-VP +. . O + +A DT B-NP +toxic-waste-dump JJ I-NP +fire NN I-NP +destroyed VBD B-VP +part NN B-NP +of IN B-PP +an DT B-NP +interstate JJ I-NP +highway NN I-NP +this DT B-NP +summer NN I-NP +. . O + +In IN B-PP +Monmouth NNP B-NP +, , O +an DT B-NP +important JJ I-NP +swing NN I-NP +area NN I-NP +, , O +Republican NNP B-NP +freeholders NNS I-NP +now RB B-ADVP +run VBP B-VP +on IN B-PP +a DT B-NP +slogan NN I-NP +promising JJ B-VP +to TO I-VP +keep VB I-VP +the DT B-NP +county NN I-NP +`` `` O +clean JJ B-ADJP +and CC I-ADJP +green JJ I-ADJP +. . O +'' '' O + +Mr. NNP B-NP +Florio NNP I-NP +savors NNS B-VP +this DT B-NP +vindication NN I-NP +, , O +but CC O +at IN B-PP +age NN B-NP +52 CD I-NP +, , O +the DT B-NP +congressman NN I-NP +is VBZ B-VP +also RB B-ADVP +a DT B-NP +product NN I-NP +of IN B-PP +his PRP$ B-NP +times NNS I-NP +and CC I-NP +losses NNS I-NP +. . O + +He PRP B-NP +speaks VBZ B-VP +for IN B-PP +the DT B-NP +death NN I-NP +penalty NN I-NP +as IN B-SBAR +if IN I-SBAR +reading NN B-VP +from IN B-PP +Exodus NNP B-NP +21 CD I-NP +; : O +to TO B-VP +increase VB I-VP +state NN B-NP +revenue NN I-NP +he PRP B-NP +focuses VBZ B-VP +not RB O +on IN B-PP +`` `` O +taxes NNS B-NP +'' '' O +but CC B-PP +on IN B-PP +`` `` O +audits NN B-NP +'' '' O +to TO B-VP +cut VB I-VP +waste NN B-NP +. . O + +Hard-hitting JJ B-NP +consultants NNS I-NP +match VBP B-VP +ads NNS B-NP +with IN B-PP +Mr. NNP B-NP +Courter NNP I-NP +'s POS B-NP +team NN I-NP +, , O +and CC O +Mr. NNP B-NP +Florio NNP I-NP +retools VBZ B-VP +himself PRP B-NP +as IN B-PP +the DT B-NP +lean JJ I-NP +, , I-NP +mean VB I-NP +Democratic JJ I-NP +fighting NN I-NP +machine NN I-NP +of IN B-PP +the DT B-NP +1990s CD I-NP +. . O + +Appealing VBG B-VP +to TO B-PP +a DT B-NP +young JJ I-NP +audience NN I-NP +, , O +he PRP B-NP +scraps VBZ B-VP +an DT B-NP +old JJ I-NP +reference NN I-NP +to TO B-PP +Ozzie NNP B-NP +and CC I-NP +Harriet NNP I-NP +and CC O +instead RB B-ADVP +quotes VBZ B-VP +the DT B-NP +Grateful NNP I-NP +Dead NNP I-NP +. . O + +The DT B-NP +lyric JJ I-NP +chosen VBN B-VP +-- : O +`` `` O +long JJ B-NP +strange JJ I-NP +night NN I-NP +'' '' O +-- : O +may MD B-VP +be VB I-VP +an DT B-NP +apt JJ I-NP +footnote NN I-NP +to TO B-PP +television NN B-NP +spots NNS I-NP +by IN B-PP +both DT B-NP +candidates NNS I-NP +intended VBN B-VP +to TO I-VP +portray VB I-VP +each DT B-NP +other NN I-NP +as IN B-PP +a DT B-NP +liar NN I-NP +. . O + +The DT B-NP +Democratic JJ I-NP +lawmaker NN I-NP +fits VBZ B-VP +a DT B-NP +pattern NN I-NP +of IN B-PP +younger JJR B-NP +reformers NNS I-NP +arising VBG B-VP +out IN B-PP +of IN B-PP +old JJ B-NP +machines NNS I-NP +, , O +but CC O +his PRP$ B-NP +ties NNS I-NP +to TO B-PP +Camden NNP B-NP +remain VB B-VP +a DT B-NP +sore JJ I-NP +point NN I-NP +because IN B-PP +of IN I-PP +the DT B-NP +county NN I-NP +'s POS B-NP +past JJ I-NP +corruption NN I-NP +. . O + +His PRP$ B-NP +campaign NN I-NP +hierarchy NN I-NP +is VBZ B-VP +chosen VBN I-VP +from IN B-PP +elsewhere RB B-NP +in IN B-PP +the DT B-NP +state NN I-NP +, , O +and CC O +faced VBD B-VP +with IN B-PP +criticism NN B-NP +of IN B-PP +a DT B-NP +sweetheart NN I-NP +bank NN I-NP +investment NN I-NP +, , O +he PRP B-NP +has VBZ B-VP +so RB I-VP +far RB I-VP +blunted VBN I-VP +the DT B-NP +issue NN I-NP +by IN B-PP +donating VBG B-VP +the DT B-NP +bulk NN I-NP +of IN B-PP +his PRP$ B-NP +profits NNS I-NP +to TO B-PP +his PRP$ B-NP +alma JJ I-NP +mater NN I-NP +, , O +Trenton NNP B-NP +State NNP I-NP +College NNP I-NP +. . O + +Mr. NNP B-NP +Florio NNP I-NP +'s POS B-NP +forcefulness NN I-NP +on IN B-PP +the DT B-NP +abortion NN I-NP +issue NN I-NP +after IN B-PP +the DT B-NP +Webster NNP I-NP +ruling NN I-NP +divides VBZ B-VP +some DT B-NP +of IN B-PP +his PRP$ B-NP +old JJ I-NP +constituency NN I-NP +. . O + +Pasquale NNP B-NP +Pignatelli NNP I-NP +, , O +an DT B-NP +unlikely JJ I-NP +but CC I-NP +enthusiastic JJ I-NP +pipe NN I-NP +major JJ I-NP +in IN B-PP +an DT B-NP +Essex NNP I-NP +County NNP I-NP +Irish JJ I-NP +bagpipe NN I-NP +band NN I-NP +, , O +speaks VBZ B-VP +sadly RB B-ADVP +of IN B-PP +Mr. NNP B-NP +Florio NNP I-NP +. . O + +`` `` O +I PRP B-NP +am VBP B-VP +a DT B-NP +devout JJ I-NP +Catholic NNP I-NP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Pignatelli NNP I-NP +, , O +a DT B-NP +40-year-old JJ I-NP +health NN I-NP +officer NN I-NP +. . O + +`` `` O +I PRP B-NP +ca MD B-VP +n't RB I-VP +support VB I-VP +him PRP B-NP +because IN B-PP +of IN I-PP +abortion NN B-NP +. . O +'' '' O + +Bill NNP B-NP +Wames NNP I-NP +Sr. NNP I-NP +, , O +72 CD B-NP +, , O +is VBZ B-VP +Catholic NNP B-ADJP +too RB B-ADVP +, , O +but CC O +unfazed VBN B-ADJP +by IN B-PP +Mr. NNP B-NP +Florio NNP I-NP +'s POS B-NP +stand NN I-NP +on IN B-PP +abortion NN B-NP +. . O + +A DT B-NP +security NN I-NP +guard NN I-NP +at IN B-PP +a DT B-NP +cargo NN I-NP +terminal NN I-NP +, , O +he PRP B-NP +wears VBZ B-VP +a DT O +Sons NNP O +of IN B-PP +Italy NNP B-NP +jacket NN B-NP +and CC I-NP +cap NN I-NP +celebrating VBG B-VP +`` `` O +The DT B-NP +US PRP I-NP +1 CD I-NP +Band NNP I-NP +. . O +'' '' O + +`` `` O +I PRP B-NP +still RB B-ADVP +think VBP B-VP +the DT B-NP +woman NN I-NP +has VBZ B-VP +the DT B-NP +right NN I-NP +to TO B-VP +do VB I-VP +with IN B-PP +her PRP$ B-NP +body NN I-NP +as IN B-SBAR +she PRP B-NP +pleases VBZ B-VP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +`` `` O +If IN B-SBAR +you PRP B-NP +want VBP B-VP +more JJR B-NP +opinions NNS I-NP +ask VBP B-VP +my PRP$ B-NP +wife NN I-NP +. . O + +She PRP B-NP +has VBZ B-VP +lots NNS B-NP +of IN B-PP +opinions NNS B-NP +. . O + +Consumer NN B-NP +prices NNS I-NP +rose VBD B-VP +a DT B-NP +surprisingly RB I-NP +moderate JJ I-NP +0.2 CD I-NP +% NN I-NP +in IN B-PP +September NNP B-NP +, , O +pushed VBD B-VP +up IN B-ADVP +mostly RB B-ADVP +by IN B-PP +a DT B-NP +jump NN I-NP +in IN B-PP +clothing NN B-NP +costs NNS I-NP +, , O +the DT B-NP +Labor NNP I-NP +Department NNP I-NP +reported VBD B-VP +. . O + +Energy NN B-NP +costs NNS I-NP +, , O +which WDT B-NP +drove VBD B-VP +wholesale JJ B-NP +prices NNS I-NP +up IN B-ADVP +sharply RB B-ADVP +during IN B-PP +the DT B-NP +month NN I-NP +, , O +continued VBD B-VP +to TO I-VP +decline VB I-VP +at IN B-PP +the DT B-NP +retail JJ I-NP +level NN I-NP +, , O +pulling VBG B-VP +down JJ B-ADVP +transportation NN B-NP +and CC O +helping VBG B-VP +to TO I-VP +ease VB I-VP +housing NN B-NP +costs NNS I-NP +. . O + +The DT B-NP +report NN I-NP +was VBD B-VP +the DT B-NP +brightest JJS I-NP +news NN I-NP +the DT B-NP +financial JJ I-NP +markets NNS I-NP +had VBD B-VP +seen VBN I-VP +since IN B-PP +before IN O +the DT B-NP +stock NN I-NP +market NN I-NP +plunged VBD B-VP +more JJR B-NP +than IN I-NP +190 CD I-NP +points NNS I-NP +last JJ B-NP +Friday NNP I-NP +. . O + +The DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +rallied VBD B-VP +on IN B-PP +the DT B-NP +news NN I-NP +, , O +closing VBG B-VP +39.55 CD B-NP +points NNS I-NP +higher JJR B-ADVP +at IN B-PP +2683.20 CD B-NP +. . O + +Bond NN B-NP +prices NNS I-NP +also RB B-ADVP +jumped VBD B-VP +as IN B-SBAR +traders NNS B-NP +appeared VBD B-VP +to TO I-VP +read VB I-VP +the DT B-NP +data NNS I-NP +as IN B-PP +a DT B-NP +sign NN I-NP +that IN B-SBAR +interest NN B-NP +rates NNS I-NP +may MD B-VP +fall VB I-VP +. . O + +But CC O +many JJ B-NP +economists NNS I-NP +were VBD B-VP +not RB O +nearly RB B-ADVP +as IN B-ADJP +jubilant JJ I-ADJP +. . O + +The DT B-NP +climb NN I-NP +in IN B-PP +wholesale JJ B-NP +energy NN I-NP +prices NNS I-NP +is VBZ B-VP +certain JJ B-ADJP +to TO B-VP +push VB I-VP +up IN B-ADVP +retail JJ B-NP +energy NN I-NP +prices NNS I-NP +in IN B-PP +the DT B-NP +next JJ I-NP +few JJ I-NP +months NNS I-NP +, , O +they PRP B-NP +warned VBD B-VP +. . O + +They PRP B-NP +also RB B-ADVP +said VBD B-VP +the DT B-NP +dollar NN I-NP +is VBZ B-VP +leveling VBG I-VP +off IN B-PRT +after IN B-PP +a DT B-NP +rise NN I-NP +this DT B-NP +summer NN I-NP +that WDT B-NP +helped VBD B-VP +to TO I-VP +reduce VB I-VP +the DT B-NP +prices NNS I-NP +of IN B-PP +imported VBN B-NP +goods NNS I-NP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +inflation NN B-NP +is VBZ B-VP +going VBG I-VP +to TO I-VP +pick VB I-VP +up IN B-PRT +through IN B-PP +the DT B-NP +fall NN I-NP +, , O +'' '' O +said VBD B-VP +Joel NNP B-NP +Popkin NNP I-NP +, , O +a DT B-NP +specialist NN I-NP +on IN B-PP +inflation NN B-NP +who WP B-NP +runs VBZ B-VP +an DT B-NP +economic JJ I-NP +consulting NN I-NP +firm NN I-NP +here RB B-ADVP +. . O + +`` `` O +It PRP B-NP +has VBZ B-VP +been VBN I-VP +in IN B-PP +what WP B-NP +I PRP B-NP +would MD B-VP +describe VB I-VP +as IN B-PP +a DT B-NP +lull NN I-NP +for IN B-PP +the DT B-NP +past JJ I-NP +several JJ I-NP +months NNS I-NP +. . O +'' '' O + +`` `` O +We PRP B-NP +'ve VBP B-VP +had VBD I-VP +whopping JJ B-NP +declines NNS I-NP +in IN B-PP +consumer NN B-NP +energy NN I-NP +prices NNS I-NP +in IN B-PP +each DT B-NP +of IN B-PP +the DT B-NP +past JJ I-NP +three CD I-NP +months NNS I-NP +, , O +and CC O +at IN B-PP +the DT B-NP +wholesale JJ I-NP +level NN I-NP +those DT B-NP +are VBP B-VP +fully RB B-ADVP +behind IN B-PP +us PRP B-NP +now RB B-ADVP +, , O +'' '' O +said VBD B-VP +Jay NNP B-NP +Woodworth NNP I-NP +, , O +chief JJ B-NP +domestic JJ I-NP +economist NN I-NP +at IN B-PP +Bankers NNP B-NP +Trust NNP I-NP +Co. NNP I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +. . O + +Because IN B-SBAR +wholesale JJ B-NP +energy NN I-NP +prices NNS I-NP +shot NN B-VP +up IN B-ADVP +by IN B-PP +a DT B-NP +steep JJ I-NP +6.5 CD I-NP +% NN I-NP +last JJ B-NP +month NN I-NP +, , O +many JJ B-NP +analysts NNS I-NP +expected VBD B-VP +energy NN B-NP +prices NNS I-NP +to TO B-VP +rise VB I-VP +at IN B-PP +the DT B-NP +consumer NN I-NP +level NN I-NP +too RB B-ADVP +. . O + +As IN B-PP +a DT B-NP +result NN I-NP +, , O +many JJ B-NP +economists NNS I-NP +were VBD B-VP +expecting VBG I-VP +the DT B-NP +consumer NN I-NP +price NN I-NP +index NN I-NP +to TO B-VP +increase VB I-VP +significantly RB B-ADVP +more JJR I-ADVP +than IN B-SBAR +it PRP B-NP +did VBD B-VP +. . O + +But CC O +retail JJ B-NP +energy NN I-NP +prices NNS I-NP +declined VBD B-VP +0.9 CD B-NP +% NN I-NP +in IN B-PP +September NNP B-NP +. . O + +Though IN B-SBAR +analysts NNS B-NP +say VBP B-VP +competition NN B-NP +will MD B-VP +probably RB I-VP +hold VB I-VP +down RB B-PRT +increases VBZ B-NP +in IN B-PP +retail JJ B-NP +energy NN I-NP +prices NNS I-NP +, , O +many JJ B-NP +expect VBP B-VP +some DT B-NP +of IN B-PP +the DT B-NP +wholesale JJ I-NP +rise NN I-NP +to TO B-VP +be VB I-VP +passed VBN I-VP +along IN B-PRT +to TO B-PP +the DT B-NP +consumer NN I-NP +before IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +year NN I-NP +. . O + +Still RB B-ADVP +, , O +some DT B-NP +analysts NNS I-NP +insisted VBD B-VP +that IN B-SBAR +the DT B-NP +worst JJS I-NP +of IN B-PP +the DT B-NP +inflation NN I-NP +is VBZ B-VP +behind RB B-ADVP +. . O + +`` `` O +It PRP B-NP +increasingly RB B-ADVP +appears VBZ B-VP +that IN B-SBAR +1987-88 CD B-NP +was VBD B-VP +a DT B-NP +temporary JJ I-NP +inflation NN I-NP +blip NN I-NP +and CC B-NP +not RB I-NP +the DT B-NP +beginning NN I-NP +of IN B-PP +a DT B-NP +cyclical JJ I-NP +inflation NN I-NP +problem NN I-NP +, , O +'' '' O +argued VBD B-VP +Edward NNP B-NP +Yardeni NNP I-NP +, , O +chief JJ B-NP +economist NN I-NP +at IN B-PP +Prudential-Bache NNP B-NP +Securities NNP I-NP +Inc. NNP I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +. . O + +In IN B-PP +both DT B-NP +1987 CD I-NP +and CC I-NP +1988 CD I-NP +, , O +consumer NN B-NP +prices NNS I-NP +rose VBD B-VP +4.4 CD B-NP +% NN I-NP +. . O + +A DT B-NP +run-up NN I-NP +in IN B-PP +world NN B-NP +oil NN I-NP +prices NNS I-NP +last JJ B-NP +winter NN I-NP +sent VBD B-VP +consumer NN B-NP +prices NNS I-NP +soaring VBG B-VP +at IN B-PP +a DT B-NP +6.7 CD I-NP +% NN I-NP +annual JJ I-NP +rate NN I-NP +in IN B-PP +the DT B-NP +first JJ I-NP +five CD I-NP +months NNS I-NP +of IN B-PP +this DT B-NP +year NN I-NP +, , O +but CC O +the DT B-NP +subsequent JJ I-NP +decline NN I-NP +in IN B-PP +energy NN B-NP +prices NNS I-NP +has VBZ B-VP +pulled VBN I-VP +the DT B-NP +annual JJ I-NP +rate NN I-NP +back RB B-ADVP +down RB I-ADVP +to TO B-PP +4.4 CD B-NP +% NN I-NP +. . O + +Mr. NNP B-NP +Yardeni NNP I-NP +predicted VBD B-VP +that DT B-SBAR +world NN B-NP +business NN I-NP +competition NN I-NP +will MD B-VP +continue VB I-VP +to TO I-VP +restrain VB I-VP +prices NNS B-NP +. . O + +`` `` O +The DT B-NP +bottom NN I-NP +line NN I-NP +is VBZ B-VP +, , O +it PRP B-NP +seems VBZ B-VP +to TO B-PP +me PRP B-NP +that IN B-SBAR +the DT B-NP +economic JJ I-NP +environment NN I-NP +has VBZ B-VP +become VBN I-VP +very RB B-ADJP +, , I-ADJP +very RB I-ADJP +competitve JJ I-ADJP +for IN B-PP +a DT B-NP +lot NN I-NP +of IN B-PP +businesses NNS B-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +`` `` O +Back RB B-ADVP +in IN B-PP +1987-88 CD B-NP +, , O +business NN B-NP +was VBD B-VP +operating VBG I-VP +at IN B-PP +fairly RB B-NP +tight JJ I-NP +capacity NN I-NP +, , O +so RB O +businesses NNS B-NP +felt VBD B-VP +they PRP B-NP +could MD B-VP +raise VB I-VP +prices NNS B-NP +. . O +'' '' O + +Now RB B-ADVP +, , O +he PRP B-NP +said VBD B-VP +, , O +a DT B-NP +slowdown NN I-NP +in IN B-PP +economic JJ B-NP +activity NN I-NP +has VBZ B-VP +slackened VBN I-VP +demand NN B-NP +. . O + +The DT B-NP +mild JJ I-NP +inflation NN I-NP +figures NNS I-NP +renewed VBD B-VP +investors NNS B-NP +' POS B-NP +hopes VBZ I-NP +that IN B-SBAR +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +will MD B-VP +ease VB I-VP +its PRP$ B-NP +interest-rate NN I-NP +stance NN I-NP +. . O + +The DT B-NP +steep JJ I-NP +climb NN I-NP +in IN B-PP +producer NN B-NP +prices NNS I-NP +reported VBD B-VP +last JJ B-NP +Friday NNP I-NP +fostered VBD B-VP +pessimism NN B-NP +about IN B-PP +lower JJR B-NP +interest NN I-NP +rates NNS I-NP +and CC O +contributed VBD B-VP +to TO B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +'s POS B-NP +6.9 CD B-ADJP +% NN I-ADJP +plunge NN B-NP +that DT B-NP +day NN I-NP +. . O + +In IN B-PP +the DT B-NP +past JJ I-NP +several JJ I-NP +days NNS I-NP +, , O +however RB B-ADVP +, , O +the DT B-NP +U.S. NNP I-NP +'s POS B-NP +central JJ I-NP +bank NN I-NP +has VBZ B-VP +allowed VBN I-VP +a DT B-NP +key JJ I-NP +interest NN I-NP +rate NN I-NP +to TO B-VP +fall VB I-VP +slightly RB B-ADVP +to TO B-VP +try VB I-VP +to TO I-VP +stabilize VB I-VP +the DT B-NP +markets NNS I-NP +. . O + +Analysts NNS B-NP +say VBP B-VP +Fed NNP B-NP +policy NN I-NP +makers NNS I-NP +have VBP B-VP +been VBN I-VP +wary JJ B-ADJP +of IN B-PP +relaxing VBG B-VP +credit NN B-NP +too RB B-ADVP +much JJ I-ADVP +because IN B-SBAR +they PRP B-NP +were VBD B-VP +still RB B-ADJP +uncertain JJ I-ADJP +about IN B-PP +the DT B-NP +level NN I-NP +of IN B-PP +inflation NN B-NP +in IN B-PP +the DT B-NP +economy NN I-NP +. . O + +Excluding VBG B-PP +the DT B-NP +volatile JJ I-NP +categories NNS I-NP +of IN B-PP +energy NN B-NP +and CC I-NP +food NN I-NP +-- : O +leaving VBG B-VP +what WP B-NP +some DT B-NP +economists NNS I-NP +call VBP B-VP +the DT B-NP +core NN I-NP +inflation NN I-NP +rate NN I-NP +-- : O +consumer NN B-NP +prices NNS I-NP +still RB B-ADVP +rose VBD B-VP +only RB B-NP +0.2 CD I-NP +% NN I-NP +in IN B-PP +September NNP B-NP +. . O + +Transportation NN B-NP +costs NNS I-NP +actually RB B-ADVP +fell VBD B-VP +0.5 CD B-NP +% NN I-NP +, , O +and CC O +housing NN B-NP +costs NNS I-NP +gained VBD B-VP +only RB B-NP +0.1 CD I-NP +% NN I-NP +. . O + +Apparel NN B-NP +prices NNS I-NP +rocketed VBD B-VP +up IN B-ADVP +1.7 CD B-NP +% NN I-NP +, , O +but CC O +that DT B-NP +was VBD B-VP +after IN B-PP +three CD B-NP +months NNS I-NP +of IN B-PP +declines NNS B-NP +. . O + +Medical JJ B-NP +costs NNS I-NP +continued VBD B-VP +their PRP$ B-NP +steep JJ I-NP +ascent NN I-NP +, , O +rising VBG B-VP +0.8 CD B-NP +% NN I-NP +after IN B-PP +four CD B-NP +consecutive JJ I-NP +months NNS I-NP +of IN B-PP +0.7 CD B-NP +% NN I-NP +increases NNS I-NP +. . O + +Car NN B-NP +prices NNS I-NP +, , O +another DT B-NP +area NN I-NP +that WDT B-NP +contributed VBD B-VP +to TO B-PP +the DT B-NP +steep JJ I-NP +rise NN I-NP +in IN B-PP +the DT B-NP +wholesale JJ I-NP +index NN I-NP +last JJ B-NP +month NN I-NP +, , O +still RB B-ADVP +showed VBD B-VP +declines NNS B-NP +at IN B-PP +the DT B-NP +consumer NN I-NP +level NN I-NP +. . O + +They PRP B-NP +dropped VBD B-VP +0.4 CD B-NP +% NN I-NP +as IN B-SBAR +dealers NNS B-NP +continued VBD B-VP +to TO I-VP +offer VB I-VP +rebates NNS B-NP +to TO B-VP +attract VB I-VP +customers NNS B-NP +. . O + +Food NN B-NP +prices NNS I-NP +rose VBD B-VP +0.2 CD B-NP +% NN I-NP +for IN B-PP +the DT B-NP +second JJ I-NP +month NN I-NP +in IN B-PP +a DT B-NP +row NN I-NP +, , O +far RB B-ADVP +slower JJR I-ADVP +than IN B-PP +the DT B-NP +monthly JJ I-NP +rises NNS I-NP +earlier RBR B-ADVP +in IN B-PP +the DT B-NP +year NN I-NP +. . O + +Separately RB B-ADVP +, , O +the DT B-NP +Labor NNP I-NP +Department NNP I-NP +reported VBD B-VP +that IN B-SBAR +average JJ B-NP +weekly JJ I-NP +earnings NNS I-NP +rose VBD B-VP +0.3 CD B-NP +% NN I-NP +in IN B-PP +September NNP B-NP +, , O +after IN B-PP +adjusting VBG B-VP +for IN B-PP +inflation NN B-NP +, , O +following VBG B-PP +a DT B-NP +0.7 CD I-NP +% NN I-NP +decline NN I-NP +in IN B-PP +August NNP B-NP +. . O + +All DT B-NP +the DT I-NP +numbers NNS I-NP +are VBP B-VP +adjusted VBN I-VP +for IN B-PP +seasonal JJ B-NP +fluctuations NNS I-NP +. . O + +Here RB B-ADVP +are VBP B-VP +the DT B-NP +seasonally RB I-NP +adjusted VBN I-NP +changes NNS I-NP +in IN B-PP +the DT B-NP +components NNS I-NP +of IN B-PP +the DT B-NP +Labor NNP I-NP +Department NNP I-NP +'s POS B-NP +consumer NN I-NP +price NN I-NP +index NN I-NP +for IN B-PP +September NNP B-NP +. . O + +After IN B-PP +watching VBG B-VP +interest NN B-NP +in IN B-PP +the DT B-NP +sport NN I-NP +plummet NN B-VP +for IN B-PP +years NNS B-NP +, , O +the DT B-NP +ski NN I-NP +industry NN I-NP +is VBZ B-VP +trying VBG I-VP +to TO I-VP +give VB I-VP +itself PRP B-NP +a DT B-NP +lift NN I-NP +. . O + +Across IN B-PP +the DT B-NP +country NN I-NP +, , O +resorts NNS B-NP +are VBP B-VP +using VBG I-VP +everything NN B-NP +from IN B-PP +fireworks NNS B-NP +to TO B-PP +classical-music JJ B-NP +concerts NNS I-NP +to TO B-VP +attract VB I-VP +new JJ B-NP +customers NNS I-NP +. . O + +Some DT B-NP +have NN B-VP +built VBD I-VP +health NN B-NP +spas NNS I-NP +, , O +business NN B-NP +centers NNS I-NP +and CC O +shopping NN B-NP +villages NNS I-NP +so RB O +visitors NNS B-NP +have VBP B-VP +more JJR B-NP +to TO B-VP +do VB I-VP +than IN B-PP +ski NN B-VP +. . O + +And CC O +this DT B-NP +week NN I-NP +, , O +the DT B-NP +industry NN I-NP +'s POS B-NP +efforts NNS I-NP +will MD B-VP +go VB I-VP +national JJ B-ADJP +for IN B-PP +the DT B-NP +first JJ I-NP +time NN I-NP +when WRB B-ADVP +it PRP B-NP +unveils VBZ B-VP +a DT B-NP +$ $ I-NP +7 CD I-NP +million CD I-NP +advertising NN I-NP +campaign NN I-NP +. . O + +Such JJ B-NP +efforts NNS I-NP +-- : O +unheard JJ B-ADJP +of IN B-PRT +only RB B-NP +a DT I-NP +few JJ I-NP +years NNS I-NP +ago RB B-ADVP +-- : O +are VBP B-VP +the DT B-NP +latest JJS I-NP +attempts NNS I-NP +to TO B-VP +revive VB I-VP +the DT B-NP +sagging VBG I-NP +$ $ I-NP +1.76 CD I-NP +billion CD I-NP +U.S. NNP I-NP +ski NN I-NP +industry NN I-NP +. . O + +Since IN B-PP +the DT B-NP +start NN I-NP +of IN B-PP +the DT B-NP +decade NN I-NP +, , O +lift-ticket JJ B-NP +sales NNS I-NP +have NN B-VP +grown VBN I-VP +only RB B-NP +3 CD I-NP +% NN I-NP +a DT B-NP +year NN I-NP +on IN B-PP +average JJ B-NP +, , O +compared VBN B-PP +with IN B-PP +16 CD B-NP +% NN I-NP +annual JJ I-NP +growth NN I-NP +rates NNS I-NP +in IN B-PP +the DT B-NP +'60s NNS I-NP +and CC I-NP +'70s NNS I-NP +. . O + +Last JJ B-NP +season NN I-NP +, , O +lift-ticket JJ B-NP +sales NNS I-NP +fell VBD B-VP +for IN B-PP +the DT B-NP +first JJ I-NP +time NN I-NP +in IN B-PP +seven CD B-NP +years NNS I-NP +. . O + +By IN B-PP +some DT B-NP +estimates NNS I-NP +, , O +nearly RB B-NP +a DT I-NP +fourth JJ I-NP +of IN B-PP +all DT B-NP +U.S. NNP I-NP +ski NN I-NP +areas NNS I-NP +have VBP B-VP +been VBN I-VP +forced VBN I-VP +to TO I-VP +shut VB I-VP +down RB B-PRT +since IN B-PP +the DT B-NP +early JJ I-NP +'80s NNS I-NP +. . O + +Competition NN B-NP +and CC O +mounting VBG B-NP +insurance NN I-NP +and CC I-NP +equipment NN I-NP +costs NNS I-NP +have VBP B-VP +been VBN I-VP +the DT B-NP +undoing NN I-NP +of IN B-PP +many JJ B-NP +resorts NNS I-NP +. . O + +But CC O +another DT B-NP +big JJ I-NP +problem NN I-NP +has VBZ B-VP +been VBN I-VP +the DT B-NP +aging NN I-NP +of IN B-PP +baby NN B-NP +boomers NNS I-NP +. . O + +Skiing NN B-NP +, , O +after IN B-PP +all DT B-NP +, , O +has VBZ B-VP +mainly RB I-VP +been VBN I-VP +for IN B-PP +the DT B-NP +young JJ I-NP +and CC I-NP +daring JJ I-NP +and CC O +many JJ B-NP +baby NN I-NP +boomers NNS I-NP +have VBP B-VP +outgrown VBN I-VP +skiing NN B-NP +or CC O +have VBP B-VP +too RB B-NP +many JJ I-NP +family NN I-NP +responsibilities NNS I-NP +to TO B-VP +stick VB I-VP +with IN B-PP +the DT B-NP +sport NN I-NP +. . O + +In IN B-PP +its PRP$ B-NP +new JJ I-NP +ad NN I-NP +campaign NN I-NP +, , O +created VBN B-VP +by IN B-PP +D'Arcy NNP B-NP +Masius NNP I-NP +Benton NNP I-NP +& CC I-NP +Bowles NNP I-NP +Inc. NNP I-NP +, , O +Chicago NNP B-NP +, , O +the DT B-NP +ski NN I-NP +industry NN I-NP +is VBZ B-VP +trying VBG I-VP +to TO I-VP +change VB I-VP +its PRP$ B-NP +image NN I-NP +as IN B-PP +a DT B-NP +sport NN I-NP +primarily RB B-ADVP +for IN B-PP +young JJ B-NP +white JJ I-NP +people NNS I-NP +. . O + +One CD B-NP +60-second JJ I-NP +TV NN I-NP +spot NN I-NP +features VBZ B-VP +a DT B-NP +diverse JJ I-NP +group NN I-NP +of IN B-PP +skiers NNS B-NP +gracefully RB B-VP +gliding VBG I-VP +down RB B-PP +sun-drenched JJ B-NP +slopes NNS I-NP +: : O +senior JJ B-NP +citizens NNS I-NP +, , O +minorities NNS B-NP +, , O +families NNS B-NP +with IN B-PP +children NNS B-NP +-- : B-NP +even RB I-NP +a DT B-NP +blind JJ I-NP +skier NN I-NP +. . O + +`` `` O +Ski NNP B-NP +school NN I-NP +is VBZ B-VP +great JJ B-ADJP +, , O +'' '' O +cries NNS B-VP +out IN B-PRT +a DT B-NP +tot NN I-NP +, , O +bundled VBN B-VP +in IN B-PP +a DT B-NP +snowsuit NN I-NP +as IN B-SBAR +he PRP B-NP +plows VBZ B-VP +down RP B-PP +a DT B-NP +bunny NN I-NP +slope NN I-NP +. . O + +`` `` O +You PRP B-NP +'ll MD B-VP +never RB I-VP +know VB I-VP +'til NN O +you PRP B-NP +try VBP B-VP +, , O +'' '' O +says VBZ B-VP +a DT B-NP +black JJ I-NP +skier NN I-NP +. . O + +`` `` O +We PRP B-NP +used VBD B-VP +to TO I-VP +show VB I-VP +some DT B-NP +hot-dog JJ I-NP +skier NN I-NP +in IN B-PP +his PRP$ B-NP +twenties NNS I-NP +or CC I-NP +thirties NNS I-NP +going VBG B-VP +over IN B-PP +the DT B-NP +edge NN I-NP +of IN B-PP +a DT B-NP +cliff NN I-NP +, , O +'' '' O +says VBZ B-VP +Kathe NNP B-NP +Dillmann NNP I-NP +, , O +a DT B-NP +spokeswoman NN I-NP +for IN B-PP +the DT B-NP +United NNP I-NP +Ski NNP I-NP +Industries NNP I-NP +Association NNP I-NP +, , O +the DT B-NP +trade NN I-NP +group NN I-NP +sponsoring VBG B-VP +the DT B-NP +campaign NN I-NP +. . O + +Ski NN B-NP +promotions NNS I-NP +have VBP B-VP +traditionally RB I-VP +avoided VBN I-VP +the DT B-NP +touchy JJ I-NP +issue NN I-NP +of IN B-PP +safety NN B-NP +. . O + +But CC O +the DT B-NP +new JJ I-NP +commercials NNS I-NP +deal VBP B-VP +with IN B-PP +it PRP B-NP +indirectly RB B-ADVP +by IN B-PP +showing VBG B-VP +a DT B-NP +woman NN I-NP +smiling VBG B-VP +as IN B-SBAR +she PRP B-NP +tries VBZ B-VP +to TO I-VP +get VB I-VP +up IN B-PRT +from IN B-PP +a DT B-NP +fall NN I-NP +. . O + +`` `` O +We PRP B-NP +wanted VBD B-VP +to TO I-VP +show VB I-VP +it PRP B-NP +'s VBZ B-VP +okay JJ B-ADJP +if IN B-SBAR +you PRP B-NP +fall VBP B-VP +, , O +'' '' O +says VBZ B-VP +Ms. NNP B-NP +Dillmann NNP I-NP +. . O + +`` `` O +Most JJS B-NP +people NNS I-NP +think VBP B-VP +if IN B-SBAR +you PRP B-NP +slip VBP B-VP +, , O +you PRP B-NP +'ll MD B-VP +wind VB I-VP +up IN B-PRT +in IN B-PP +a DT B-NP +body NN I-NP +cast NN I-NP +. . O +'' '' O + +The DT B-NP +ad NN I-NP +campaign NN I-NP +represents VBZ B-VP +an DT B-NP +unusual JJ I-NP +spirit NN I-NP +of IN B-PP +cooperation NN B-NP +among IN B-PP +resorts NNS B-NP +and CC O +ski NN B-NP +equipment NN I-NP +makers NNS I-NP +; : O +normally RB B-ADVP +, , O +they PRP B-NP +only RB B-ADVP +run VBP B-VP +ads NNS B-NP +hyping VBG B-VP +their PRP$ B-NP +own JJ I-NP +products NNS I-NP +and CC I-NP +facilities NNS I-NP +. . O + +But CC O +in IN B-PP +these DT B-NP +crunch NN I-NP +times NNS I-NP +for IN B-PP +the DT B-NP +ski NN I-NP +industry NN I-NP +, , O +some DT B-NP +resorts NNS I-NP +, , O +such JJ B-PP +as IN I-PP +the DT B-NP +Angel NNP I-NP +Fire NNP I-NP +, , I-NP +Red NNP I-NP +River NNP I-NP +and CC I-NP +Taos NNP I-NP +ski NN I-NP +areas NNS I-NP +in IN B-PP +New NNP B-NP +Mexico NNP I-NP +, , O +have VBP B-VP +even RB I-VP +started VBN I-VP +shuttle-busing NN I-VP +skiers NNS B-NP +to TO B-PP +each DT B-NP +other NN I-NP +'s POS B-NP +slopes NNS I-NP +and CC O +next JJ B-VP +year NN I-VP +plan NN I-VP +to TO I-VP +sell VB I-VP +tickets NNS B-NP +good JJ B-ADJP +for IN B-PP +all DT B-NP +local JJ I-NP +lifts NNS I-NP +. . O + +Many JJ B-NP +resorts NNS I-NP +also RB B-ADVP +are VBP B-VP +focusing VBG I-VP +more JJR B-ADVP +on IN B-PP +the DT B-NP +service NN I-NP +side NN I-NP +of IN B-PP +their PRP$ B-NP +business NN I-NP +. . O + +Since IN B-SBAR +40 CD B-NP +% NN I-NP +of IN B-PP +skiers NNS B-NP +are VBP B-VP +parents NNS B-NP +, , O +many JJ B-NP +slopes NNS I-NP +are VBP B-VP +building VBG I-VP +nurseries NNS B-NP +, , O +expanding VBG B-VP +ski NN B-NP +schools NNS I-NP +and CC O +adding VBG B-VP +entertainment NN B-NP +for IN B-PP +kids NNS B-NP +. . O + +Vail NNP B-NP +, , O +Colo. NNP B-NP +, , O +now RB B-ADVP +has VBZ B-VP +a DT B-NP +playland NN I-NP +that WDT B-NP +looks VBZ B-VP +like IN B-PP +an DT B-NP +old JJ I-NP +mining NN I-NP +town NN I-NP +; : O +kids NNS B-NP +can MD B-VP +ski VB I-VP +through IN B-ADVP +and CC O +pan NN B-VP +for IN B-PP +fool NN B-NP +'s POS B-NP +gold NN I-NP +. . O + +For IN B-PP +$ $ B-NP +15 CD I-NP +, , O +they PRP B-NP +can MD B-VP +enjoy VB I-VP +their PRP$ B-NP +own JJ I-NP +nightly JJ I-NP +entertainment NN I-NP +, , O +with IN B-PP +dinner NN B-NP +, , O +without IN B-PP +mom NN B-NP +and CC I-NP +dad NN I-NP +. . O + +A DT B-NP +few JJ I-NP +years NNS I-NP +ago RB B-ADVP +, , O +parents NNS B-NP +usually RB B-ADVP +had VBD B-VP +to TO I-VP +hire VB I-VP +a DT B-NP +sitter NN I-NP +or CC O +take VB B-VP +turns VBZ B-NP +skiing NN B-VP +while IN B-SBAR +one CD B-NP +spouse NN I-NP +stayed VBD B-VP +with IN B-PP +the DT B-NP +children NNS I-NP +. . O + +`` `` O +Most JJS B-NP +parents NNS I-NP +who WP B-NP +had VBD B-VP +to TO I-VP +go VB I-VP +through IN B-PP +that DT B-NP +never RB B-ADVP +came VBD B-VP +back RB B-ADVP +, , O +'' '' O +says VBZ B-VP +Michael NNP B-NP +Shannon NNP I-NP +, , O +president NN B-NP +of IN B-PP +Vail NNP B-NP +Associates NNP I-NP +Inc. NNP I-NP +, , O +which WDT B-NP +owns VBZ B-VP +and CC I-VP +operates VBZ I-VP +the DT B-NP +Vail NNP I-NP +and CC I-NP +nearby JJ I-NP +Beaver NNP I-NP +Creek NNP I-NP +resorts NNS I-NP +. . O + +To TO B-VP +make VB I-VP +skiing NN B-NP +more RBR B-ADJP +convenient JJ I-ADJP +for IN B-PP +time-strapped JJ B-NP +visitors NNS I-NP +, , O +several JJ B-NP +resorts NNS I-NP +are VBP B-VP +buying VBG I-VP +or CC I-VP +starting VBG I-VP +their PRP$ B-NP +own JJ I-NP +travel NN I-NP +agencies NNS I-NP +. . O + +In IN B-PP +one CD B-NP +phone NN I-NP +call NN I-NP +, , O +ski NN B-NP +buffs NNS I-NP +can MD B-VP +make VB I-VP +hotel NN B-NP +and CC I-NP +restaurant NN I-NP +reservations NNS I-NP +, , O +buy VB B-VP +lift NN B-NP +tickets NNS I-NP +, , O +rent NN B-VP +ski NN B-NP +equipment NN I-NP +and CC O +sign NN B-VP +up IN B-PRT +for IN B-PP +lessons NNS B-NP +. . O + +And CC O +resorts NNS B-NP +are VBP B-VP +adding VBG I-VP +other JJ B-NP +amenities NNS I-NP +, , O +such JJ B-PP +as IN I-PP +pricey JJ B-NP +restaurants NNS I-NP +, , O +health NN B-NP +spas NNS I-NP +and CC O +vacation NN B-NP +packages NNS I-NP +with IN B-PP +a DT B-NP +twist NN I-NP +. . O + +During IN B-PP +Winter NNP B-NP +Carnival NNP I-NP +week NN I-NP +, , O +for IN B-PP +example NN B-NP +, , O +visitors NNS B-NP +at IN B-PP +Sunday NNP B-NP +River NNP I-NP +in IN B-PP +Maine NNP B-NP +can MD B-VP +take VB I-VP +a DT B-NP +hot-air JJ I-NP +balloon NN I-NP +ride NN I-NP +. . O + +`` `` O +People NNS B-NP +these DT B-NP +days NNS I-NP +want VBP B-VP +something NN B-NP +else RB I-NP +to TO B-VP +do VB I-VP +besides IN B-PP +ski NN B-VP +and CC O +sit VB B-VP +in IN B-PP +the DT B-NP +bar NN I-NP +, , O +'' '' O +says VBZ B-VP +Don NNP B-NP +Borgeson NNP I-NP +, , O +executive JJ B-NP +director NN I-NP +of IN B-PP +Angel NNP B-NP +Fire NNP I-NP +, , O +N.M. NNP B-NP +'s POS B-NP +Chamber NNP I-NP +of IN B-PP +Commerce NNP B-NP +. . O + +The DT B-NP +ski NN I-NP +industry NN I-NP +hopes VBZ B-VP +to TO I-VP +increase VB I-VP +the DT B-NP +number NN I-NP +of IN B-PP +skiers NNS B-NP +by IN B-PP +3.5 CD B-NP +million CD I-NP +to TO B-PP +about IN B-NP +21.7 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +next JJ I-NP +five CD I-NP +years NNS I-NP +with IN B-PP +its PRP$ B-NP +latest JJS I-NP +ads NNS I-NP +and CC I-NP +promotions NNS I-NP +. . O + +But CC O +some DT B-NP +think NN B-VP +that WDT B-NP +'s VBZ B-VP +being VBG B-VP +overly RB B-ADJP +optimistic JJ I-ADJP +. . O + +For IN B-PP +one CD B-NP +thing NN I-NP +, , O +it PRP B-NP +may MD B-VP +be VB I-VP +tough JJ B-ADJP +to TO B-VP +attract VB I-VP +people NNS B-NP +because IN B-SBAR +skiing NN B-NP +is VBZ B-VP +still RB B-ADVP +expensive JJ B-ADJP +: : O +a DT B-NP +lift NN I-NP +ticket NN I-NP +can MD B-VP +cost VB I-VP +up IN B-NP +to TO I-NP +$ $ I-NP +35 CD I-NP +a DT B-NP +day NN I-NP +and CC O +equipment NN B-NP +prices NNS I-NP +are VBP B-VP +rising VBG I-VP +. . O + +And CC O +most RBS B-NP +vacationers NNS I-NP +still RB B-ADVP +prefer VBP B-VP +a DT B-NP +warm JJ I-NP +climate NN I-NP +for IN B-PP +their PRP$ B-NP +winter NN I-NP +excursions NNS I-NP +. . O + +An DT B-NP +American NNP I-NP +Express NNP I-NP +Co. NNP I-NP +survey NN I-NP +of IN B-PP +its PRP$ B-NP +travel NN I-NP +agents NNS I-NP +revealed VBD B-VP +that IN B-SBAR +only RB B-NP +34 CD I-NP +% NN I-NP +believe VBP B-VP +their PRP$ B-NP +clients NNS I-NP +will MD B-VP +pick VB I-VP +a DT B-NP +trip NN I-NP +this DT B-NP +winter NN I-NP +based VBN B-PP +on IN B-PP +the DT B-NP +availability NN I-NP +of IN B-PP +winter NN B-NP +sports NNS I-NP +, , O +as IN B-SBAR +opposed VBN B-VP +to TO B-PP +69 CD B-NP +% NN I-NP +who WP B-NP +think VBP B-VP +that IN B-SBAR +warm-weather JJ B-NP +sports NNS I-NP +will MD B-VP +be VB I-VP +the DT B-NP +deciding VBG I-NP +factor NN I-NP +. . O + +`` `` O +Even RB B-SBAR +if IN I-SBAR +they PRP B-NP +could MD B-VP +bring VB I-VP +in IN B-ADVP +that DT B-NP +many JJ I-NP +new JJ I-NP +skiers NNS I-NP +, , O +I PRP B-NP +do VBP B-VP +n't RB I-VP +know VB I-VP +if IN B-SBAR +-LCB- ( O +the DT B-NP +industry NN I-NP +-RCB- ) O +could MD B-VP +handle VB I-VP +that DT B-NP +kind NN I-NP +of IN B-PP +an DT B-NP +increase NN I-NP +, , O +'' '' O +says VBZ B-VP +I. NNP B-NP +William NNP I-NP +Berry NNP I-NP +, , O +editor NN B-NP +and CC I-NP +publisher NN I-NP +of IN B-PP +the DT B-NP +Ski NNP I-NP +Industry NNP I-NP +Letter NNP I-NP +in IN B-PP +Katonah NNP B-NP +, , O +N.Y NNP B-NP +. . O + +`` `` O +Most JJS B-NP +people NNS I-NP +will MD B-VP +come VB I-VP +on IN B-PP +the DT B-NP +weekend NN I-NP +, , O +the DT B-NP +slopes NNS I-NP +will MD B-VP +be VB I-VP +overcrowded JJ B-ADJP +and CC O +then RB B-ADVP +these DT B-NP +-LCB- ( I-NP +new JJ I-NP +skiers NNS I-NP +-RCB- ) O +wo MD B-VP +n't RB I-VP +come VB I-VP +back RB B-ADVP +. . O + +They PRP B-NP +did VBD B-VP +n't RB I-VP +play VB I-VP +the DT B-NP +third JJ I-NP +game NN I-NP +of IN B-PP +the DT B-NP +World NNP I-NP +Series NNP I-NP +on IN B-PP +Tuesday NNP B-NP +night NN I-NP +as IN B-SBAR +scheduled VBN B-VP +, , O +and CC O +they PRP B-NP +did VBD B-VP +n't RB I-VP +play VB I-VP +it PRP B-NP +on IN B-PP +Wednesday NNP B-NP +or CC I-NP +Thursday NNP I-NP +either RB B-ADVP +. . O + +But CC O +you PRP B-NP +knew VBD B-VP +that IN B-NP +, , O +did VBD O +n't RB O +you PRP B-NP +? . O + +They PRP B-NP +are VBP B-VP +supposed VBN I-VP +to TO I-VP +play VB I-VP +the DT B-NP +game NN I-NP +next JJ B-NP +Tuesday NNP I-NP +, , O +in IN B-PP +Candlestick NNP B-NP +Park NNP I-NP +here RB B-ADVP +. . O + +The DT B-NP +theory NN I-NP +is VBZ B-VP +that IN B-SBAR +the DT B-NP +stadium NN I-NP +, , O +damaged VBN B-VP +by IN B-PP +Tuesday NNP B-NP +'s POS B-NP +earthquake NN I-NP +, , O +will MD B-VP +be VB I-VP +repaired VBN I-VP +by IN B-PP +then RB B-ADVP +, , O +and CC O +that IN B-SBAR +people NNS B-NP +will MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +get VB I-VP +there RB B-ADVP +. . O + +Like IN B-PP +just RB B-ADVP +about IN I-ADVP +everything NN B-NP +else RB I-NP +, , O +that WDT B-NP +remains VBZ B-VP +to TO I-VP +be VB I-VP +seen VBN I-VP +. . O + +Aftershocks NNS B-NP +could MD B-VP +intervene VB I-VP +. . O + +But CC O +, , O +at IN B-PP +least JJS B-ADJP +, , O +the DT B-NP +law NN I-NP +of IN B-PP +averages NNS B-NP +should MD B-VP +have VB I-VP +swung VBN I-VP +to TO B-PP +the DT B-NP +favorable JJ I-NP +side NN I-NP +. . O + +It PRP B-NP +may MD B-VP +seem VB I-VP +trivial JJ B-ADJP +to TO B-VP +worry VB I-VP +about IN B-PP +the DT B-NP +World NNP I-NP +Series NNP I-NP +amid IN B-PP +the DT B-NP +destruction NN I-NP +to TO B-PP +the DT B-NP +Bay NNP I-NP +Area NNP I-NP +wrought VBN B-VP +by IN B-PP +Tuesday NNP B-NP +'s POS B-NP +quake NN I-NP +, , O +but CC O +the DT B-NP +name NN I-NP +of IN B-PP +this DT B-NP +column NN I-NP +is VBZ B-VP +`` `` O +On IN B-PP +Sports NNPS B-NP +, , O +'' '' O +so IN O +I PRP B-NP +feel VBP B-VP +obliged VBN B-ADJP +to TO B-VP +do VB I-VP +so RB B-ADVP +. . O + +You PRP B-NP +might MD B-VP +be VB I-VP +interested JJ B-ADJP +to TO B-VP +know VB I-VP +that DT O +baseball NN B-NP +, , I-NP +not RB I-NP +survival NN I-NP +, , O +appeared VBD B-VP +to TO I-VP +be VB I-VP +the DT B-NP +first JJ I-NP +thought VBD I-NP +of IN B-PP +most RBS B-NP +of IN B-PP +the DT B-NP +crowd NN I-NP +of IN B-PP +60,000-odd JJ B-NP +that WDT B-NP +had VBD B-VP +gathered VBN I-VP +at IN B-PP +Candlestick NNP B-NP +at IN B-PP +5:04 CD B-NP +p.m. NN I-NP +Tuesday NNP B-NP +, , O +a DT B-NP +half-hour NN I-NP +before IN B-PP +game NN B-NP +time NN I-NP +, , O +when WRB B-ADVP +the DT B-NP +quake NN I-NP +struck VBD B-VP +. . O + +As RB B-ADVP +soon RB I-ADVP +as IN B-SBAR +the DT B-NP +tremor NN I-NP +passed VBN B-VP +, , O +many JJ B-NP +people NNS I-NP +spontaneously RB B-ADVP +arose VBD B-VP +and CC I-VP +cheered VBD I-VP +, , O +as IN B-SBAR +though IN I-SBAR +it PRP B-NP +had VBD B-VP +been VBN I-VP +a DT B-NP +novel NN I-NP +kind NN I-NP +of IN B-PP +pre-game JJ B-NP +show NN I-NP +. . O + +One CD B-NP +fan NN I-NP +, , O +seated VBN B-VP +several JJ B-NP +rows NNS I-NP +in IN B-PP +front NN B-NP +of IN B-PP +the DT B-NP +open NN I-NP +, , I-NP +upper-deck JJ I-NP +auxiliary JJ I-NP +press NN I-NP +section NN I-NP +where WRB B-ADVP +I PRP B-NP +was VBD B-VP +stationed VBN I-VP +, , O +faced VBD B-VP +the DT B-NP +assembled VBN I-NP +newsies NNS I-NP +and CC O +laughingly RB B-VP +shouted VBD I-VP +, , O +`` `` O +We PRP B-NP +arranged VBD B-VP +that IN B-NP +just RB B-ADVP +for IN B-PP +you PRP B-NP +guys NNS I-NP +! . O +'' '' O + +I PRP B-NP +thought VBD B-VP +and CC O +, , O +I PRP B-NP +'m VBP B-VP +sure JJ B-ADJP +, , O +others NNS B-NP +did VBD B-VP +: : O +`` `` O +You PRP B-NP +should MD B-VP +n't RB I-VP +have VB I-VP +bothered VBN I-VP +. . O +'' '' O + +I PRP B-NP +'d MD B-VP +slept VBD I-VP +through IN B-PP +my PRP$ B-NP +only RB I-NP +previous JJ I-NP +brush NN I-NP +with IN B-PP +natural JJ B-NP +disaster NN I-NP +, , O +a DT B-NP +tornado NN I-NP +15 CD B-NP +or CC I-NP +so RB I-NP +summers NNS I-NP +ago RB B-ADVP +near IN B-PP +Traverse NNP B-NP +City NNP I-NP +, , O +Mich. NNP B-NP +, , O +so IN O +I PRP B-NP +was VBD B-VP +unprepared JJ B-ADJP +for IN B-PP +one CD B-NP +reaction NN I-NP +to TO B-PP +such JJ B-NP +things NNS I-NP +: : O +the DT B-NP +urge NN I-NP +to TO B-VP +talk VB I-VP +about IN B-PP +them PRP B-NP +. . O + +Perhaps RB B-ADVP +primed VBN B-VP +by IN B-PP +the DT B-NP +daily JJ I-NP +diet NN I-NP +of IN B-PP +radio NN B-NP +and CC I-NP +TV NN I-NP +reporters NNS I-NP +thrusting VBG B-VP +microphones NNS B-NP +into IN B-PP +people NNS B-NP +'s POS B-NP +faces VBZ I-NP +and CC O +asking VBG B-VP +how WRB B-ADVP +they PRP B-NP +`` `` B-VP +feel VB I-VP +'' '' O +about IN B-PP +one CD B-NP +calamity NN I-NP +or CC O +another DT B-NP +, , O +fellow NN B-NP +reporters NNS I-NP +and CC O +civilians NNS B-NP +who WP B-NP +spied VBD B-VP +my PRP$ B-NP +press NN I-NP +credential NN I-NP +were VBD B-VP +eager JJ B-ADJP +to TO B-VP +chat VB I-VP +. . O + +`` `` O +It PRP B-NP +felt VBD B-VP +like IN B-SBAR +I PRP B-NP +was VBD B-VP +on IN B-PP +a DT B-NP +station NN I-NP +platform NN I-NP +and CC O +a DT B-NP +train NN I-NP +went VBN B-VP +by IN B-ADVP +, , O +'' '' O +said VBD B-VP +one CD B-NP +man NN I-NP +, , O +describing VBG B-VP +my PRP$ B-NP +own JJ I-NP +reaction NN I-NP +. . O + +A DT B-NP +women NNS I-NP +said VBD B-VP +she PRP B-NP +saw VBD B-VP +the DT B-NP +park NN I-NP +'s POS B-NP +light NN I-NP +standards NNS I-NP +sway VBP B-VP +. . O + +A DT B-NP +man NN I-NP +said VBD B-VP +he PRP B-NP +saw VBD B-VP +the DT B-NP +upper JJ I-NP +rim NN I-NP +undulate VB B-VP +. . O + +I PRP B-NP +saw VBD B-VP +neither DT B-NP +. . O + +Dictates NNS B-NP +of IN B-PP +good JJ B-NP +sense NN I-NP +to TO B-PP +the DT B-NP +contrary JJ I-NP +not RB B-ADVP +withstanding VBG I-ADVP +, , O +the DT B-NP +general JJ I-NP +inclination NN I-NP +was VBD B-VP +to TO B-VP +believe VB I-VP +that IN B-SBAR +the DT B-NP +disturbance NN I-NP +would MD B-VP +be VB I-VP +brief JJ B-ADJP +and CC O +that DT O +ball NN B-NP +would MD B-VP +be VB I-VP +played VBN I-VP +. . O + +`` `` O +I PRP B-NP +was VBD B-VP +near IN B-PP +the DT B-NP +top NN I-NP +of IN B-PP +the DT B-NP +stadium NN I-NP +, , O +and CC O +saw VBD B-VP +a DT B-NP +steel NN I-NP +girder NN I-NP +bow NN B-VP +six CD B-NP +feet NNS I-NP +from IN B-PP +where WRB B-ADVP +I PRP B-NP +sat VBD B-VP +, , O +but CC O +I PRP B-NP +stayed VBD B-VP +put VBN O +for IN B-PP +10 CD B-NP +or CC I-NP +15 CD I-NP +minutes NNS I-NP +, , O +'' '' O +confessed VBD B-VP +a DT B-NP +friend NN I-NP +. . O + +`` `` O +I PRP B-NP +guess VBP B-VP +I PRP B-NP +thought VBD B-VP +, , O +` `` O +This DT B-NP +is VBZ B-VP +the DT B-NP +World NNP I-NP +Series NNP I-NP +and CC O +I PRP B-NP +'m VBP B-VP +not RB I-VP +gon VBG I-VP +na TO I-VP +wimp VB I-VP +out IN B-PRT +! . O +' '' O +'' '' O + +Here RB B-ADVP +in IN B-PP +the DT B-NP +Global NNP I-NP +Village NNP I-NP +, , O +though RB B-ADVP +, , O +folks NNS B-NP +do VBP B-VP +not RB I-VP +stay VB I-VP +uninformed JJ B-ADJP +for IN B-PP +long JJ B-ADVP +. . O + +Electrical JJ B-NP +power NN I-NP +was VBD B-VP +out IN B-ADJP +in IN B-PP +still-daylighted JJ B-NP +Candlestick NNP I-NP +Park NNP I-NP +, , O +but CC O +battery-operated JJ B-NP +radios NNS I-NP +and CC I-NP +television NN I-NP +sets NNS I-NP +were VBD B-VP +plentiful JJ B-ADJP +. . O + +Within IN B-PP +a DT B-NP +few JJ I-NP +minutes NNS I-NP +, , O +the DT B-NP +true JJ I-NP +extent NN I-NP +of IN B-PP +the DT B-NP +catastrophe NN I-NP +was VBD B-VP +becoming VBG I-VP +clear JJ B-ADJP +. . O + +Its PRP$ B-NP +Richter NNP I-NP +Scale NNP I-NP +measurement NN I-NP +was VBD B-VP +reported VBN I-VP +as IN B-PP +6.5 CD B-NP +, , O +then RB B-ADVP +6.9 CD B-NP +, , O +then RB B-ADVP +7.0 CD B-NP +. . O + +A DT B-NP +section NN I-NP +of IN B-PP +the DT B-NP +Bay NNP I-NP +Bridge NNP I-NP +had VBD B-VP +collapsed VBN I-VP +, , O +as IN B-SBAR +had VBN O +a DT B-NP +part NN I-NP +of IN B-PP +Interstate NNP B-NP +Highway NNP I-NP +880 CD I-NP +in IN B-PP +Oakland NNP B-NP +. . O + +People NNS B-NP +had VBD B-VP +died VBN I-VP +. . O + +At IN B-PP +5:40 CD B-NP +p.m. NN I-NP +, , O +scheduled VBN B-NP +game NN I-NP +time NN I-NP +having VBG B-VP +passed VBN I-VP +, , O +some DT B-NP +fans NNS I-NP +chanted VBD B-VP +`` `` O +Let VB B-VP +'s POS B-NP +Play NNP B-VP +Ball NNP B-NP +. . O +'' '' O + +No RB B-ADVP +longer RB I-ADVP +innocent JJ B-ADJP +, , O +they PRP B-NP +qualified VBD B-VP +as IN B-PP +fools NNS B-NP +. . O + +The DT B-NP +stadium NN I-NP +was VBD B-VP +ordered VBN I-VP +evacuated VBN I-VP +soon RB B-ADVP +afterward RB I-ADVP +; : O +the DT B-NP +announcement NN I-NP +, , O +made VBN B-VP +over IN B-PP +police NN B-NP +bullhorns NNS I-NP +, , O +cited VBD B-VP +the DT B-NP +power NN I-NP +outage NN I-NP +, , O +but CC O +it PRP B-NP +later RB B-ADVP +was VBD B-VP +revealed VBN I-VP +that IN B-SBAR +there EX B-NP +also RB B-ADVP +had VBD B-VP +been VBN I-VP +damage NN B-NP +of IN B-PP +the DT B-NP +sort NN I-NP +reported VBN B-VP +by IN B-PP +my PRP$ B-NP +friend NN I-NP +. . O + +Outside IN B-ADVP +, , O +I PRP B-NP +spotted VBD B-VP +two CD B-NP +young JJ I-NP +men NNS I-NP +lugging VBG B-VP +blocks NNS B-NP +of IN B-PP +concrete NN B-NP +. . O + +`` `` O +Pieces NNP B-NP +of IN B-PP +Candlestick NNP B-NP +, , O +'' '' O +they PRP B-NP +said VBD B-VP +. . O + +The DT B-NP +crowd NN I-NP +remained VBD B-VP +good JJ B-ADJP +natured JJ I-ADJP +, , O +even RB B-ADJP +bemused JJ I-ADJP +. . O + +TV NN B-NP +reporters NNS I-NP +interviewed VBD B-VP +fans NNS B-NP +in IN B-PP +the DT B-NP +parking NN I-NP +lots NNS I-NP +while IN O +, , O +a DT B-NP +few JJ I-NP +feet NNS I-NP +away RB B-ADVP +, , O +others NNS B-NP +watched VBD B-VP +the DT B-NP +interviews NNS I-NP +on IN B-PP +their PRP$ B-NP +portable JJ I-NP +TVs NNS I-NP +. . O + +The DT B-NP +only JJ I-NP +frenzy NN I-NP +I PRP B-NP +saw VBD B-VP +was VBD B-VP +commercial JJ B-ADJP +: : O +Booths NNS B-NP +selling VBG B-VP +World NNP B-NP +Series NNP I-NP +commemorative JJ I-NP +stamps NNS I-NP +and CC I-NP +dated VBN I-NP +postmarks NNS I-NP +were VBD B-VP +besieged VBN I-VP +by IN B-PP +fledgling NN B-NP +speculators NNS I-NP +who WP B-NP +saw VBD B-VP +future NN B-NP +profit NN I-NP +in IN B-PP +the DT B-NP +items NNS I-NP +. . O + +The DT B-NP +traffic NN I-NP +jam NN I-NP +out IN B-PP +of IN B-PP +the DT B-NP +park NN I-NP +was VBD B-VP +monumental JJ B-ADJP +. . O + +It PRP B-NP +took VBD B-VP +me PRP B-NP +a DT B-NP +half-hour NN I-NP +to TO B-VP +move VB I-VP +10 CD B-NP +feet NNS I-NP +from IN B-PP +my PRP$ B-NP +parking NN I-NP +spot NN I-NP +in IN B-PP +an DT B-NP +outer JJ I-NP +lot NN I-NP +to TO B-PP +an DT B-NP +aisle NN I-NP +, , O +and CC O +an DT B-NP +additional JJ I-NP +hour NN I-NP +to TO B-VP +reach VB I-VP +an DT B-NP +inner JJ I-NP +roadway NN I-NP +a DT B-NP +half-block NN I-NP +away RB B-ADVP +. . O + +The DT B-NP +six-mile JJ I-NP +trip NN I-NP +to TO B-PP +my PRP$ B-NP +airport NN I-NP +hotel NN I-NP +that WDT B-NP +had VBD B-VP +taken VBN I-VP +20 CD B-NP +minutes NNS I-NP +earlier RBR B-ADVP +in IN B-PP +the DT B-NP +day NN I-NP +took VBD B-VP +more JJR B-NP +than IN I-NP +three CD I-NP +hours NNS I-NP +. . O + +At IN B-PP +my PRP$ B-NP +hotel NN I-NP +, , O +the DT B-NP +Westin NNP I-NP +, , O +power NN B-NP +was VBD B-VP +out IN B-ADJP +, , O +some DT B-NP +interior JJ I-NP +plaster NN I-NP +had VBD B-VP +broken VBN I-VP +loose JJ B-ADJP +and CC O +there EX B-NP +had VBD B-VP +been VBN I-VP +water NN B-NP +damage NN I-NP +, , O +but CC O +little JJ B-NP +else RB I-NP +. . O + +With IN B-PP +Garpian JJ B-NP +randomness NN I-NP +, , O +a DT B-NP +hotel NN I-NP +across IN B-PP +the DT B-NP +street NN I-NP +, , O +the DT B-NP +Amfac NNP I-NP +, , O +had VBD B-VP +been VBN I-VP +hit VBN I-VP +harder JJR B-ADVP +: : O +A DT B-NP +large JJ I-NP +sheet NN I-NP +of IN B-PP +its PRP$ B-NP +concrete JJ I-NP +facade NN I-NP +and CC O +several JJ B-NP +window NN I-NP +balconies NNS I-NP +were VBD B-VP +torn VBN I-VP +away RB B-ADVP +. . O + +The DT B-NP +Westin NNP I-NP +staff NN I-NP +had VBD B-VP +, , O +kindly RB B-ADVP +, , O +set VBN B-VP +out RP B-PRT +lighted VBN B-NP +candles NNS I-NP +in IN B-PP +the DT B-NP +ballroom NN I-NP +, , O +prepared VBD B-VP +a DT B-NP +cold-cuts NNS B-NP +buffet VBP I-NP +and CC O +passed VBN B-VP +around IN B-PRT +pillows NNS B-NP +and CC I-NP +blankets NNS I-NP +. . O + +I PRP B-NP +fell VBD B-VP +asleep RB B-ADJP +on IN B-PP +the DT B-NP +lobby NN I-NP +floor NN I-NP +, , O +next JJ B-ADVP +to TO B-PP +a DT B-NP +man NN I-NP +wearing VBG B-VP +a DT B-NP +Chicago NNP I-NP +Cubs NNPS I-NP +jacket NN I-NP +. . O + +I PRP B-NP +expected VBD B-VP +him PRP B-NP +to TO B-VP +say VB I-VP +, , O +`` `` O +I PRP B-NP +told VBD B-VP +you PRP B-NP +so RB B-ADVP +, , O +'' '' O +but CC O +he PRP B-NP +already RB B-ADVP +was VBD B-VP +snoring VBG I-VP +. . O + +The DT B-NP +journalistic JJ I-NP +consensus NN I-NP +was VBD B-VP +that IN B-SBAR +the DT B-NP +earthquake NN I-NP +made VBD B-VP +the DT B-NP +World NNP I-NP +Series NNP I-NP +seem VB B-VP +unimportant JJ B-ADJP +. . O + +My PRP$ B-NP +response NN I-NP +was VBD B-VP +that IN B-SBAR +sports NNS B-NP +rarely RB B-ADVP +are VBP B-VP +important JJ B-ADJP +, , B-ADJP +only RB I-ADJP +diverting VBG B-ADJP +, , O +and CC O +the DT B-NP +quake NN I-NP +merely RB B-ADVP +highlighted VBD B-VP +that DT B-NP +fact NN I-NP +. . O + +Should MD O +the DT B-NP +rest NN I-NP +of IN B-PP +the DT B-NP +Series NNP I-NP +be VB B-VP +played VBN I-VP +at IN B-ADVP +all DT I-ADVP +? . O + +Sure RB B-INTJ +. . O + +The DT B-NP +quake NN I-NP +and CC I-NP +baseball NN I-NP +were VBD B-VP +n't RB I-VP +related VBN I-VP +, , O +unlike IN B-PP +the DT B-NP +massacre NN I-NP +of IN B-PP +athletes NNS B-NP +that WDT B-NP +attended VBD B-VP +the DT B-NP +1972 CD I-NP +Olympics NNPS I-NP +. . O + +That DT B-NP +heavily RB I-NP +politicized VBN I-NP +event NN I-NP +learned VBD B-VP +nothing NN B-NP +from IN B-PP +the DT B-NP +horrifying JJ I-NP +experience NN I-NP +, , O +and CC O +seems VBZ B-VP +doomed VBN B-ADJP +to TO B-VP +repeat VB I-VP +it PRP B-NP +. . O + +Two CD B-NP +ironies NNS I-NP +intrude VBP B-VP +. . O + +This DT B-NP +has VBZ B-VP +been VBN I-VP +widely RB I-VP +dubbed VBN I-VP +the DT B-NP +BART NNP I-NP +Series NNP I-NP +, , O +after IN B-PP +the DT B-NP +local JJ I-NP +subway NN I-NP +line NN I-NP +, , O +and CC O +the DT B-NP +Bay NNP I-NP +Bridge NNP I-NP +Series NNP I-NP +. . O + +Flags NNS B-NP +fly VBP B-VP +at IN B-PP +half-staff JJ B-NP +for IN B-PP +the DT B-NP +death NN I-NP +of IN B-PP +Bart NNP B-NP +Giamatti NNP I-NP +, , O +the DT B-NP +late JJ I-NP +baseball NN I-NP +commissioner NN I-NP +, , O +and CC O +now RB B-ADVP +the DT B-NP +Bay NNP I-NP +Bridge NNP I-NP +lies VBZ B-VP +in IN B-PP +ruins NNS B-NP +. . O + +A DT B-NP +Series NNP I-NP +that WDT B-NP +was VBD B-VP +shaping VBG I-VP +up IN B-PRT +as IN B-PP +the DT B-NP +dullest JJS I-NP +since IN B-PP +the DT B-NP +one-sided JJ I-NP +Detroit-over-San JJ I-NP +Diego NNP I-NP +go VB I-NP +of IN B-PP +1984 CD B-NP +has VBZ B-VP +become VBN I-VP +memorable JJ B-ADJP +in IN B-PP +the DT B-NP +least JJS I-NP +fortunate JJ I-NP +way NN I-NP +. . O + +Still RB B-ADVP +, , O +its PRP$ B-NP +edge NN I-NP +is VBZ B-VP +lost VBN I-VP +. . O + +It PRP B-NP +now RB B-ADVP +will MD B-VP +be VB I-VP +played VBN I-VP +mostly RB B-ADVP +for IN B-PP +the DT B-NP +record NN I-NP +, , O +and CC O +should MD B-VP +be VB I-VP +wrapped VBN I-VP +up IN B-PRT +as RB B-ADVP +quickly RB I-ADVP +as IN B-PP +possible JJ B-ADJP +, , O +without IN B-PP +`` `` B-NP +off IN I-NP +'' '' I-NP +days NNS I-NP +. . O + +And CC O +I PRP B-NP +will MD B-VP +never RB I-VP +again RB I-VP +complain VB I-VP +about IN B-PP +a DT B-NP +rainout NN I-NP +. . O + +The DT B-NP +disarray NN I-NP +in IN B-PP +the DT B-NP +junk-bond NN I-NP +market NN I-NP +that WDT B-NP +began VBD B-VP +last JJ B-NP +month NN I-NP +with IN B-PP +a DT B-NP +credit NN I-NP +crunch NN I-NP +at IN B-PP +Campeau NNP B-NP +Corp. NNP I-NP +has VBZ B-VP +offered VBN I-VP +commercial JJ B-NP +banks NNS I-NP +a DT B-NP +golden JJ I-NP +opportunity NN I-NP +to TO B-VP +play VB I-VP +a DT B-NP +greater JJR I-NP +role NN I-NP +in IN B-PP +financing VBG B-VP +billion-dollar JJ B-NP +takeovers NNS I-NP +. . O + +But CC O +two CD B-NP +big JJ I-NP +New NNP I-NP +York NNP I-NP +banks NNS I-NP +seem VBP B-VP +to TO I-VP +have VB I-VP +kicked VBN I-VP +those DT B-NP +chances NNS I-NP +away RB B-ADVP +, , O +for IN B-PP +the DT B-NP +moment NN I-NP +, , O +with IN B-PP +the DT B-NP +embarrassing JJ I-NP +failure NN I-NP +of IN B-PP +Citicorp NNP B-NP +and CC O +Chase NNP B-NP +Manhattan NNP I-NP +Corp. NNP I-NP +to TO B-VP +deliver VB I-VP +$ $ B-NP +7.2 CD I-NP +billion CD I-NP +in IN B-PP +bank NN B-NP +financing NN I-NP +for IN B-PP +a DT B-NP +leveraged JJ I-NP +buy-out NN I-NP +of IN B-PP +United NNP B-NP +Airlines NNPS I-NP +parent NN I-NP +UAL NNP I-NP +Corp NNP I-NP +. . O + +For IN B-PP +more JJR B-NP +than IN I-NP +a DT I-NP +decade NN I-NP +, , O +banks NNS B-NP +have VBP B-VP +been VBN I-VP +pressing VBG I-VP +Congress NNP B-NP +and CC O +banking NN B-NP +regulators NNS I-NP +for IN B-PP +expanded VBN B-NP +powers NNS I-NP +to TO B-VP +act VB I-VP +like IN B-PP +securities NNS B-NP +firms NNS I-NP +in IN B-PP +playing VBG B-VP +Wall NNP B-NP +Street NNP I-NP +'s POS B-NP +lucrative JJ I-NP +takeover NN I-NP +game NN I-NP +, , O +from IN B-PP +giving VBG B-VP +mergers NNS B-NP +advice NN B-NP +all PDT B-NP +the DT I-NP +way NN I-NP +to TO B-PP +selling VBG B-VP +and CC I-VP +trading NN I-VP +high-yield JJ B-NP +junk NN I-NP +bonds NNS I-NP +. . O + +Those DT B-NP +expanded VBN I-NP +powers NNS I-NP +reached VBD B-VP +their PRP$ B-NP +zenith NN I-NP +in IN B-PP +July NNP B-NP +when WRB B-ADVP +Bankers NNP B-NP +Trust NNP I-NP +New NNP I-NP +York NNP I-NP +Corp. NNP I-NP +provided VBD B-VP +mergers NNS B-NP +advice NN I-NP +, , O +an DT B-NP +equity NN I-NP +investment NN I-NP +and CC O +bank NN B-NP +loans NNS I-NP +for IN B-PP +the DT B-NP +$ $ I-NP +3.65 CD I-NP +billion CD I-NP +leveraged JJ I-NP +buy-out NN I-NP +of IN B-PP +Northwest NNP B-NP +Airlines NNPS I-NP +parent NN I-NP +NWA NNP I-NP +Inc NNP I-NP +. . O + +One CD B-NP +of IN B-PP +the DT B-NP +major JJ I-NP +selling NN I-NP +points NNS I-NP +used VBN B-VP +by IN B-PP +Los NNP B-NP +Angeles NNP I-NP +financier NN I-NP +Alfred NNP I-NP +Checchi NNP I-NP +in IN B-PP +getting VBG B-VP +the DT B-NP +takeover NN I-NP +approved VBD B-VP +was VBD B-VP +that IN B-SBAR +the DT B-NP +deal NN I-NP +did VBD B-VP +n't RB I-VP +include VB I-VP +any DT B-NP +junk NN I-NP +bonds NNS I-NP +. . O + +That DT B-NP +was VBD B-VP +seen VBN I-VP +as IN B-PP +an DT B-NP +advantage NN I-NP +in IN B-PP +lobbying VBG B-VP +airline NN B-NP +employees NNS I-NP +and CC O +Washington NNP B-NP +regulators NNS I-NP +for IN B-PP +approval NN B-NP +of IN B-PP +the DT B-NP +contested VBN I-NP +takeover NN I-NP +. . O + +All DT B-NP +$ $ I-NP +3.35 CD I-NP +billion CD I-NP +in IN B-PP +debt NN B-NP +for IN B-PP +the DT B-NP +deal NN I-NP +was VBD B-VP +supplied VBN I-VP +by IN B-PP +banks NNS B-NP +. . O + +Charles NNP B-NP +Nathan NNP I-NP +, , O +co-head NN B-NP +of IN B-PP +mergers NNS B-NP +and CC I-NP +acquisitions NNS I-NP +at IN B-PP +Salomon NNP B-NP +Brothers NNP I-NP +Inc. NNP I-NP +, , O +says VBZ B-VP +it PRP B-NP +is VBZ B-VP +natural JJ B-ADJP +for IN B-SBAR +banks NNS B-NP +to TO B-VP +try VB I-VP +to TO I-VP +expand VB I-VP +beyond IN B-PP +their PRP$ B-NP +bread-and-butter JJ I-NP +business NN I-NP +of IN B-PP +providing VBG B-VP +senior JJ B-NP +debt NN I-NP +for IN B-PP +buy-outs NNS B-NP +. . O + +But CC O +the DT B-NP +UAL NNP I-NP +collapse NN I-NP +, , O +he PRP B-NP +says VBZ B-VP +, , O +`` `` O +may MD B-VP +tell VB I-VP +you PRP B-NP +it PRP B-NP +'s VBZ B-VP +not RB I-VP +going VBG I-VP +to TO I-VP +work VB I-VP +that IN B-ADVP +easily RB I-ADVP +. . O +'' '' O + +David NNP B-NP +Batchelder NNP I-NP +, , O +a DT B-NP +mergers NNS I-NP +adviser NN I-NP +in IN B-PP +La NNP B-NP +Jolla NNP I-NP +, , O +Calif. NNP B-NP +, , O +who WP B-NP +aided VBD B-VP +Los NNP B-NP +Angeles NNP I-NP +investor NN I-NP +Marvin NNP I-NP +Davis NNP I-NP +on IN B-PP +the DT B-NP +bids NNS I-NP +which WDT B-NP +put VBP B-VP +both DT B-NP +UAL NNP I-NP +and CC I-NP +NWA NNP I-NP +in IN B-PP +play NN B-NP +as IN B-PP +takeover NN B-NP +candidates NNS I-NP +this DT B-NP +year NN I-NP +, , O +says VBZ B-VP +that IN B-SBAR +banks NNS B-NP +have VBP B-VP +been VBN I-VP +`` `` O +preparing VBG B-VP +to TO I-VP +play VB I-VP +a DT B-NP +larger JJR I-NP +and CC I-NP +larger JJR I-NP +role NN I-NP +in IN B-PP +acquisition NN B-NP +financing NN I-NP +. . O +'' '' O + +Mr. NNP B-NP +Batchelder NNP I-NP +says VBZ B-VP +that IN B-SBAR +in IN B-PP +the DT B-NP +past NN I-NP +, , O +banks NNS B-NP +would MD B-VP +normally RB I-VP +have VB I-VP +loaned VBN I-VP +65 CD B-NP +% NN I-NP +of IN B-PP +a DT B-NP +total JJ I-NP +buy-out NN I-NP +price NN I-NP +, , O +with IN B-SBAR +the DT B-NP +loans NNS I-NP +secured VBN B-VP +by IN B-PP +the DT B-NP +target NN I-NP +company NN I-NP +'s POS B-NP +assets NNS I-NP +. . O + +Another DT B-NP +20 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +borrowed VBN I-NP +funds NNS I-NP +would MD B-VP +come VB I-VP +from IN B-PP +the DT B-NP +sale NN I-NP +to TO B-PP +investors NNS B-NP +of IN B-PP +junk NN B-NP +bonds NNS I-NP +, , O +which WDT B-NP +offer VBP B-VP +less JJR B-NP +security NN I-NP +and CC O +typically RB B-VP +carry VB I-VP +higher JJR B-NP +yields NNS I-NP +than IN B-PP +bank NN B-NP +loans NNS I-NP +. . O + +Mr. NNP B-NP +Checchi NNP I-NP +'s POS B-NP +purchase NN I-NP +of IN B-PP +NWA NNP B-NP +, , O +Mr. NNP B-NP +Batchelder NNP I-NP +notes VBZ B-VP +, , O +`` `` O +was VBD B-VP +probably RB B-ADVP +the DT B-NP +most RBS I-NP +aggressive JJ I-NP +to TO B-PP +date VB B-NP +, , O +'' '' O +with IN B-PP +bank NN B-NP +debt NN I-NP +at IN B-PP +85 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +purchase NN I-NP +price NN I-NP +. . O + +But CC O +Mr. NNP B-NP +Batchelder NNP I-NP +says VBZ B-VP +that IN B-SBAR +Citicorp NNP B-NP +'s POS B-NP +`` `` I-NP +failure NN I-NP +to TO B-VP +deliver VB I-VP +'' '' O +on IN B-PP +its PRP$ B-NP +promise NN I-NP +to TO B-VP +raise VB I-VP +the DT B-NP +UAL NNP I-NP +bank NN I-NP +debt NN I-NP +for IN B-PP +a DT B-NP +labor-management JJ I-NP +buy-out NN I-NP +group NN I-NP +`` `` O +is VBZ B-VP +very RB B-ADJP +distressing JJ I-ADJP +to TO B-PP +potential JJ B-NP +users NNS I-NP +of IN B-PP +a DT B-NP +` `` I-NP +highly-confident JJ I-NP +' '' I-NP +letter NN I-NP +from IN B-PP +commercial JJ B-NP +banks NNS I-NP +. . O +'' '' O + +His PRP$ B-NP +client NN I-NP +, , O +Mr. NNP B-NP +Davis NNP I-NP +, , O +used VBD B-VP +just RB B-ADVP +such JJ B-NP +a DT I-NP +letter NN I-NP +from IN B-PP +Citicorp NNP B-NP +in IN B-PP +pursuing VBG B-VP +UAL NNP B-NP +; : O +Citicorp NNP B-NP +later RB B-ADVP +agreed VBD B-VP +to TO I-VP +work VB I-VP +with IN B-PP +a DT B-NP +competing VBG I-NP +UAL NNP I-NP +buy-out NN I-NP +group NN I-NP +. . O + +Executives NNS B-NP +of IN B-PP +Citicorp NNP B-NP +and CC O +Chase NNP B-NP +Manhattan NNP I-NP +declined VBD B-VP +to TO I-VP +comment VB I-VP +on IN B-PP +either DT I-PP +the DT B-NP +UAL NNP I-NP +situation NN I-NP +, , B-PP +or CC I-PP +on IN B-PP +the DT B-NP +changing VBG I-NP +nature NN I-NP +of IN B-PP +banks NNS B-NP +' POS B-NP +role NN I-NP +in IN B-PP +financing NN B-VP +takeovers NNS B-NP +. . O + +In IN B-PP +the DT B-NP +wake NN I-NP +of IN B-PP +Campeau NNP B-NP +'s POS B-NP +problems NNS I-NP +, , O +prices VBZ B-NP +of IN B-PP +junk NN B-NP +bonds NNS I-NP +tumbled VBD B-VP +, , O +throwing VBG B-VP +into IN B-PP +doubt NN B-NP +the DT B-NP +ability NN I-NP +of IN B-PP +corporate JJ B-NP +acquirers NNS I-NP +to TO B-VP +finance VB I-VP +large JJ B-NP +takeovers NNS I-NP +with IN B-PP +the DT B-NP +help NN I-NP +of IN B-PP +junk NN B-NP +bond NN I-NP +sales NNS I-NP +. . O + +Mark NNP B-NP +Solow NNP I-NP +, , O +senior JJ B-NP +managing NN I-NP +director NN I-NP +at IN B-PP +Manufacturers NNP B-NP +Hanover NNP I-NP +Trust NNP I-NP +Co. NNP I-NP +, , O +says VBZ B-VP +the DT B-NP +falloff NN I-NP +in IN B-PP +junk NN B-NP +bonds NNS I-NP +may MD B-VP +yet RB I-VP +open JJ I-VP +new JJ B-NP +business NN I-NP +opportunities NNS I-NP +to TO B-PP +banks NNS B-NP +in IN B-PP +structuring VBG B-VP +takeovers NNS B-NP +. . O + +But CC O +he PRP B-NP +warns VBZ B-VP +that IN B-SBAR +banks NNS B-NP +will MD B-VP +have VB I-VP +`` `` O +to TO B-VP +have VB I-VP +enough JJ B-NP +discipline NN I-NP +'' '' O +not RB O +to TO B-VP +make VB I-VP +loans NNS B-NP +that WDT B-NP +are VBP B-VP +too RB B-ADJP +risky JJ I-ADJP +. . O + +In IN B-PP +fact NN B-NP +, , O +Manufacturers NNP B-NP +Hanover NNP I-NP +said VBD B-VP +in IN B-PP +its PRP$ B-NP +third-quarter JJ I-NP +earnings NNS I-NP +report NN I-NP +that IN B-SBAR +fees NNS B-NP +from IN B-PP +syndicating VBG B-VP +loans NNS B-NP +to TO B-PP +other JJ B-NP +banks NNS I-NP +dropped VBD B-VP +48 CD B-NP +% NN I-NP +, , O +to TO B-PP +$ $ B-NP +21 CD I-NP +million CD I-NP +. . O + +`` `` O +We PRP B-NP +did VBD B-VP +n't RB I-VP +take VB I-VP +part NN B-NP +in IN B-PP +a DT B-NP +lot NN I-NP +of IN B-PP +deals NNS B-NP +because IN B-SBAR +their PRP$ B-NP +credit NN I-NP +quality NN I-NP +was VBD B-VP +poor JJ B-ADJP +, , O +'' '' O +says VBZ B-VP +a DT B-NP +bank NN I-NP +spokesman NN I-NP +. . O + +James NNP B-NP +B. NNP I-NP +Lee NNP I-NP +, , O +head NN B-NP +of IN B-PP +syndications NNS B-NP +and CC O +private JJ B-NP +placements NNS I-NP +at IN B-PP +Chemical NNP B-NP +Banking NNP I-NP +Corp. NNP I-NP +, , O +said VBD B-VP +he PRP B-NP +believes VBZ B-VP +banks NNS B-NP +can MD B-VP +still RB I-VP +make VB I-VP +a DT B-NP +credible JJ I-NP +offer NN I-NP +of IN B-PP +one-stop JJ B-NP +shopping NN I-NP +for IN B-PP +takeover NN B-NP +finance NN I-NP +. . O + +As IN B-PP +evidence NN B-NP +, , O +he PRP B-NP +cites VBZ B-VP +yesterday NN B-NP +'s POS B-NP +arrangement NN I-NP +for IN B-PP +the DT B-NP +final JJ I-NP +financing NN I-NP +of IN B-PP +a DT B-NP +$ $ I-NP +3 CD I-NP +billion CD I-NP +bid NN I-NP +for IN B-PP +American NNP B-NP +Medical NNP I-NP +International NNP I-NP +Inc. NNP I-NP +in IN B-PP +which WDT B-NP +Chemical NNP B-NP +served VBD B-VP +as IN B-PP +both DT B-NP +the DT B-NP +lead NN I-NP +bank NN I-NP +and CC O +an DT B-NP +equity NN I-NP +investor NN I-NP +. . O + +Beyond IN B-PP +the DT B-NP +current JJ I-NP +weakness NN I-NP +in IN B-PP +the DT B-NP +junk NN I-NP +bond NN I-NP +market NN I-NP +, , O +banks NNS B-NP +have VBP B-VP +another DT B-NP +advantage NN I-NP +over IN B-PP +investment NN B-NP +banks NNS I-NP +in IN B-PP +financing NN B-VP +contested VBD B-NP +takeovers NNS I-NP +. . O + +Arthur NNP B-NP +Fleischer NNP I-NP +Jr. NNP I-NP +, , O +a DT B-NP +takeover NN I-NP +lawyer NN I-NP +at IN B-PP +Fried NNP B-NP +Frank NNP I-NP +Harris NNP I-NP +Shriver NNP I-NP +& CC I-NP +Jacobson NNP I-NP +, , O +notes VBZ B-VP +that IN B-SBAR +`` `` O +a DT B-NP +political JJ I-NP +and CC I-NP +emotional JJ I-NP +bias NN I-NP +'' '' O +has VBZ B-VP +developed VBN I-VP +against IN B-PP +junk NN B-NP +bonds NNS I-NP +. . O + +One CD B-NP +hostile JJ I-NP +bidder NN I-NP +who WP B-NP +deliberately RB B-ADVP +avoided VBN B-VP +using VBG I-VP +junk NN B-NP +bonds NNS I-NP +was VBD B-VP +Paramount NNP B-NP +Communications NNP I-NP +Inc. NNP I-NP +in IN B-PP +its PRP$ B-NP +initial JJ I-NP +offer NN I-NP +to TO B-VP +acquire VB I-VP +Time NNP B-NP +Inc. NNP I-NP +for IN B-PP +$ $ B-NP +10.7 CD I-NP +billion CD I-NP +, , O +or CC O +$ $ B-NP +175 CD I-NP +a DT B-NP +share NN I-NP +. . O + +A DT B-NP +Paramount NNP I-NP +spokesman NN I-NP +says VBZ B-VP +that DT B-NP +decision NN I-NP +was VBD B-VP +based VBN I-VP +on IN B-PP +the DT B-NP +financial JJ I-NP +, , I-NP +not RB I-NP +political JJ I-NP +, , I-NP +drawbacks NNS I-NP +of IN B-PP +junk NN B-NP +bonds NNS I-NP +. . O + +But CC O +some DT B-NP +observers NNS I-NP +believe VBP B-VP +Paramount NNP B-NP +Chairman NNP I-NP +Martin NNP I-NP +Davis NNP I-NP +wanted VBD B-VP +to TO I-VP +avoid VB I-VP +the DT B-NP +possible JJ I-NP +taint NN I-NP +of IN B-PP +being VBG B-VP +perceived VBN I-VP +as IN B-PP +a DT B-NP +corporate JJ I-NP +raider NN I-NP +in IN B-PP +his PRP$ B-NP +controversial JJ I-NP +bid NN I-NP +for IN B-PP +Time NNP B-NP +. . O + +In IN B-PP +the DT B-NP +end NN I-NP +, , O +Mr. NNP B-NP +Davis NNP I-NP +used VBD B-VP +junk NN B-NP +bonds NNS I-NP +so RB B-SBAR +that IN I-SBAR +he PRP B-NP +could MD B-VP +raise VB I-VP +Paramount NNP B-NP +'s POS B-NP +bid NN I-NP +to TO B-PP +$ $ B-NP +200 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Some DT B-NP +Monday-morning JJ I-NP +quarterbacks NNS I-NP +said VBD B-VP +the DT B-NP +initial JJ I-NP +lower JJR I-NP +bid NN I-NP +, , O +without IN B-PP +junk NN B-NP +bonds NNS I-NP +, , O +was VBD B-VP +a DT B-NP +factor NN I-NP +in IN B-PP +his PRP$ B-NP +losing NN B-VP +the DT B-NP +company NN I-NP +. . O + +Time NNP B-NP +eluded VBD B-VP +Paramount NNP B-NP +by IN B-PP +acquiring VBG B-VP +Warner NNP B-NP +Communications NNP I-NP +Inc NNP I-NP +. . O + +The DT B-NP +success NN I-NP +of IN B-PP +the DT B-NP +NWA NNP I-NP +financing NN I-NP +, , O +and CC O +the DT B-NP +failure NN I-NP +of IN B-PP +the DT B-NP +UAL NNP I-NP +deal NN I-NP +, , O +also RB B-ADVP +seem VB B-VP +to TO I-VP +highlight VB I-VP +the DT B-NP +important JJ I-NP +new JJ I-NP +role NN I-NP +in IN B-PP +takeover NN B-NP +financing NN I-NP +being VBG B-VP +played VBN I-VP +by IN B-PP +Japanese JJ B-NP +banks NNS I-NP +. . O + +Japanese JJ B-NP +banks NNS I-NP +accounted VBD B-VP +for IN B-PP +50 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +NWA NNP I-NP +bank NN I-NP +debt NN I-NP +, , O +according VBG B-PP +to TO B-PP +a DT B-NP +report NN I-NP +by IN B-PP +Transportation NNP B-NP +Secretary NNP I-NP +Samuel NNP I-NP +Skinner NNP I-NP +. . O + +But CC O +it PRP B-NP +was VBD B-VP +broad-scale JJ B-NP +rejection NN I-NP +by IN B-PP +Japanese JJ B-NP +banks NNS I-NP +that WDT B-NP +helped VBD B-VP +seal NN I-VP +the DT B-NP +fate NN I-NP +of IN B-PP +the DT B-NP +attempt NN I-NP +to TO B-VP +buy VB I-VP +UAL NNP B-NP +. . O + +Citicorp NNP B-NP +and CC I-NP +Chase NNP I-NP +are VBP B-VP +attempting VBG I-VP +to TO I-VP +put VB I-VP +together RB B-PRT +a DT B-NP +new JJ I-NP +, , I-NP +lower JJR I-NP +bid NN I-NP +. . O + +Takanori NNP B-NP +Mizuno NNP I-NP +, , O +chief JJ B-NP +economist NN I-NP +of IN B-PP +the DT B-NP +Institute NNP I-NP +for IN B-PP +Financial NNP B-NP +Affairs NNP I-NP +Inc. NNP I-NP +, , O +a DT B-NP +Tokyo NNP I-NP +research NN I-NP +center NN I-NP +on IN B-PP +finance NN B-NP +and CC I-NP +economics NNS I-NP +, , O +says VBZ B-VP +, , O +`` `` O +The DT B-NP +junk NN I-NP +bond NN I-NP +market NN I-NP +became VBD B-VP +very RB B-ADJP +jittery JJ I-ADJP +, , O +and CC O +there EX B-NP +'s VBZ B-VP +a DT B-NP +fear NN I-NP +of IN B-PP +a DT B-NP +coming VBG I-NP +recession NN I-NP +and CC O +the DT B-NP +possible JJ I-NP +bankruptcy NN I-NP +of IN B-PP +LBO NNP B-NP +companies NNS I-NP +. . O + +Harley-Davidson NNP B-NP +Inc. NNP I-NP +filed VBD B-VP +suit NN B-NP +in IN B-PP +federal JJ B-NP +court NN I-NP +here RB B-ADVP +, , O +alleging VBG B-VP +that IN B-SBAR +a DT B-NP +group NN I-NP +that WDT B-NP +holds VBZ B-VP +6.2 CD B-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +stock NN I-NP +made VBN B-VP +`` `` B-NP +false JJ I-NP +, , I-NP +deceptive JJ I-NP +and CC I-NP +misleading JJ I-NP +'' '' I-NP +statements NNS I-NP +in IN B-PP +recent JJ B-NP +regulatory JJ I-NP +filings NNS I-NP +and CC I-NP +public JJ I-NP +announcements NNS I-NP +. . O + +Harley-Davidson NNP B-NP +'s POS B-NP +complaint NN I-NP +claims NNS B-VP +that IN B-SBAR +the DT B-NP +group NN I-NP +, , O +led VBN B-VP +by IN B-PP +investor NN B-NP +Malcolm NNP I-NP +I. NNP I-NP +Glazer NNP I-NP +, , O +violated VBD B-VP +securities NNS B-NP +laws NNS I-NP +by IN B-PP +failing VBG B-VP +to TO I-VP +disclose VB I-VP +plans NNS B-NP +to TO B-VP +purchase VB I-VP +15 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +shares NNS I-NP +outstanding JJ B-ADJP +and CC O +that IN B-SBAR +when WRB B-ADVP +the DT B-NP +required VBN I-NP +Hart-Scott-Rodino NNP I-NP +filing NN I-NP +eventually RB B-ADVP +was VBD B-VP +made VBN I-VP +, , O +it PRP B-NP +did VBD B-VP +n't RB I-VP +disclose VB I-VP +the DT B-NP +group NN I-NP +'s POS B-NP +alleged VBN I-NP +earlier JJR I-NP +violation NN I-NP +of IN B-PP +the DT B-NP +so-called JJ I-NP +prior-notice JJ I-NP +requirements NNS I-NP +of IN B-PP +the DT B-NP +law NN I-NP +. . O + +Mr. NNP B-NP +Glazer NNP I-NP +could MD B-VP +n't RB I-VP +immediately RB I-VP +be VB I-VP +reached VBN I-VP +to TO B-VP +comment VB I-VP +. . O + +But CC O +when WRB B-ADVP +Harley NNP B-NP +last JJ B-NP +week NN I-NP +publicly RB B-ADVP +questioned VBD B-VP +the DT B-NP +legality NN I-NP +of IN B-PP +the DT B-NP +group NN I-NP +'s POS B-NP +filing NN I-NP +procedures NNS I-NP +, , O +the DT B-NP +Rochester NNP I-NP +, , I-NP +N.Y. NNP I-NP +, , I-NP +investor NN I-NP +said VBD B-VP +`` `` O +we PRP B-NP +complied VBD B-VP +with IN B-PP +every DT B-NP +law NN I-NP +, , O +'' '' O +and CC O +he PRP B-NP +denied VBD B-VP +any DT B-NP +wrongdoing NN I-NP +. . O + +The DT B-NP +Glazer NNP I-NP +group NN I-NP +said VBD B-VP +in IN B-PP +a DT B-NP +Securities NNP I-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +filing NN I-NP +in IN B-PP +early JJ B-NP +October NNP I-NP +that IN B-SBAR +it PRP B-NP +may MD B-VP +seek VB I-VP +a DT B-NP +controlling VBG I-NP +interest NN I-NP +in IN B-PP +Harley-Davidson NNP B-NP +, , O +or CC O +seek VB B-VP +representation NN B-NP +on IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +board NN I-NP +. . O + +Harley NNP B-NP +has VBZ B-VP +said VBD I-VP +it PRP B-NP +does VBZ B-VP +n't RB I-VP +intend VB I-VP +to TO I-VP +be VB I-VP +acquired VBN I-VP +by IN B-PP +the DT B-NP +Glazer NNP I-NP +group NN I-NP +or CC O +any DT B-NP +other JJ I-NP +party NN I-NP +. . O + +Inland NNP B-NP +Steel NNP I-NP +Industries NNP I-NP +Inc. NNP I-NP +, , O +battered VBN B-VP +by IN B-PP +lower JJR B-NP +volume NN I-NP +and CC O +higher JJR B-NP +costs NNS I-NP +, , O +posted VBD B-VP +a DT B-NP +75 CD I-NP +% NN I-NP +drop NN I-NP +in IN B-PP +third-quarter JJ B-NP +earnings NNS I-NP +. . O + +The DT B-NP +nation NN I-NP +'s POS B-NP +fourth-largest JJ I-NP +steelmaker NN I-NP +earned VBD B-VP +$ $ B-NP +18.3 CD I-NP +million CD I-NP +, , O +or CC O +43 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +compared VBN B-PP +with IN B-PP +$ $ B-NP +61 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.70 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +, , O +when WRB B-ADVP +the DT B-NP +industry NN I-NP +was VBD B-VP +enjoying VBG I-VP +peak NN B-NP +demand NN I-NP +and CC O +strong JJ B-NP +pricing NN I-NP +. . O + +Sales NNS B-NP +fell VBD B-VP +to TO B-PP +$ $ B-NP +981.2 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +1.02 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +earnings NNS I-NP +also RB B-ADVP +mark VBP B-VP +a DT B-NP +significant JJ I-NP +drop NN I-NP +from IN B-PP +the DT B-NP +second JJ I-NP +quarter NN I-NP +'s POS B-NP +$ $ I-NP +45.3 CD I-NP +million CD I-NP +or CC O +$ $ B-NP +1.25 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Moreover RB B-ADVP +, , O +the DT B-NP +earnings NNS I-NP +were VBD B-VP +well RB B-ADVP +below IN B-PP +analysts NNS B-NP +' POS B-NP +expectations NNS I-NP +of IN B-PP +about RB B-NP +$ $ I-NP +1.16 CD I-NP +a DT B-NP +share NN I-NP +. . O + +In IN B-PP +composite JJ B-NP +trading NN I-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +, , O +Inland NNP B-NP +closed VBD B-VP +yesterday NN B-NP +at IN B-PP +$ $ B-NP +35.875 CD I-NP +a DT B-NP +share NN I-NP +, , O +down RB B-ADVP +$ $ B-NP +1 CD I-NP +. . O + +The DT B-NP +company NN I-NP +attributed VBD B-VP +the DT B-NP +earnings NNS I-NP +drop NN I-NP +to TO B-PP +lower JJR B-NP +volume NN I-NP +related VBN B-VP +to TO B-PP +seasonal JJ B-NP +demand NN I-NP +and CC O +the DT B-NP +soft JJ I-NP +consumer NN I-NP +durable JJ I-NP +market NN I-NP +, , O +especially RB B-ADVP +in IN B-PP +the DT B-NP +automotive JJ I-NP +sector NN I-NP +. . O + +However RB B-ADVP +, , O +the DT B-NP +company NN I-NP +also RB B-ADVP +lost VBD B-VP +orders NNS B-NP +because IN B-PP +of IN I-PP +prolonged VBN B-NP +labor NN I-NP +talks NNS I-NP +in IN B-PP +the DT B-NP +second JJ I-NP +quarter NN I-NP +. . O + +Third-quarter JJ B-NP +shipments NNS I-NP +slipped VBD B-VP +7 CD B-NP +% NN I-NP +from IN B-PP +the DT B-NP +year-ago JJ I-NP +period NN I-NP +, , O +and CC O +17 CD B-NP +% NN I-NP +from IN B-PP +this DT B-NP +year NN I-NP +'s POS B-NP +second JJ I-NP +quarter NN I-NP +. . O + +Profit NN B-NP +of IN B-PP +steel NN B-NP +shipped VBN B-VP +for IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +steel NN I-NP +segment NN I-NP +slid VBD B-VP +to TO B-PP +$ $ B-NP +26 CD I-NP +a DT B-NP +ton NN I-NP +, , O +from IN B-PP +$ $ B-NP +66 CD I-NP +a DT B-NP +ton NN I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +and CC O +$ $ B-NP +57 CD I-NP +a DT B-NP +ton NN I-NP +a DT B-NP +quarter NN I-NP +earlier RBR B-ADVP +. . O + +Analysts NNS B-NP +noted VBD B-VP +that IN B-SBAR +the DT B-NP +disappointing JJ I-NP +results NNS I-NP +do VBP B-VP +n't RB I-VP +reflect VB I-VP +lower JJR B-NP +prices NNS I-NP +for IN B-PP +steel NN B-NP +products NNS I-NP +. . O + +Charles NNP B-NP +Bradford NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +with IN B-PP +Merrill NNP B-NP +Lynch NNP I-NP +Capital NNP I-NP +Markets NNPS I-NP +, , O +said VBD B-VP +higher JJR B-NP +prices NNS I-NP +for IN B-PP +galvanized JJ B-NP +and CC I-NP +cold-rolled JJ I-NP +products NNS I-NP +offset VBP B-VP +lower JJR B-NP +prices NNS I-NP +for IN B-PP +bar NN B-NP +, , I-NP +hot-rolled JJ I-NP +and CC I-NP +structural JJ I-NP +steel NN I-NP +. . O + +Structural JJ B-NP +steel NN I-NP +, , O +which WDT B-NP +primarily RB B-ADVP +serves VBZ B-VP +the DT B-NP +construction NN I-NP +market NN I-NP +, , O +was VBD B-VP +especially RB I-VP +hurt VBN I-VP +by IN B-PP +a DT B-NP +15 CD I-NP +% NN I-NP +price NN I-NP +drop NN I-NP +, , O +Mr. NNP B-NP +Bradford NNP I-NP +said VBD B-VP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +its PRP$ B-NP +integrated VBN I-NP +steel NN I-NP +sector NN I-NP +was VBD B-VP +also RB I-VP +hurt VBN I-VP +by IN B-PP +higher JJR B-NP +raw JJ I-NP +material NN I-NP +, , I-NP +repair NN I-NP +and CC I-NP +maintenance NN I-NP +, , I-NP +and CC I-NP +labor NN I-NP +costs NNS I-NP +. . O + +The DT B-NP +increased VBN I-NP +labor NN I-NP +costs NNS I-NP +became VBD B-VP +effective JJ B-ADJP +Aug. NNP B-NP +1 CD I-NP +under IN B-PP +terms NNS B-NP +of IN B-PP +the DT B-NP +four-year JJ I-NP +labor NN I-NP +agreement NN I-NP +with IN B-PP +the DT B-NP +United NNP I-NP +Steelworkers NNPS I-NP +union NN I-NP +. . O + +Meanwhile RB B-ADVP +, , O +the DT B-NP +company NN I-NP +'s POS B-NP +service NN I-NP +center NN I-NP +segment NN I-NP +, , O +which WDT B-NP +saw VBD B-VP +operating VBG B-NP +profit NN I-NP +drop NN B-VP +to TO B-PP +$ $ B-NP +11.5 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +30.7 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +, , O +experienced VBN B-VP +much NN B-NP +of IN B-PP +the DT B-NP +same JJ I-NP +demand NN I-NP +and CC I-NP +cost NN I-NP +problems NNS I-NP +, , O +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +start-up JJ B-NP +costs NNS I-NP +associated VBN B-VP +with IN B-PP +a DT B-NP +coil NN I-NP +processing NN I-NP +facility NN I-NP +in IN B-PP +Chicago NNP B-NP +and CC O +an DT B-NP +upgraded VBN I-NP +computer NN I-NP +information NN I-NP +system NN I-NP +. . O + +Inland NNP B-NP +Chairman NNP I-NP +Frank NNP I-NP +W. NNP I-NP +Luerssen NNP I-NP +said VBD B-VP +the DT B-NP +company NN I-NP +'s POS B-NP +short-term JJ I-NP +outlook NN I-NP +is VBZ B-VP +`` `` O +clouded VBN B-VP +by IN B-PP +uncertainties NNS B-NP +in IN B-PP +the DT B-NP +economy NN I-NP +and CC O +financial JJ B-NP +markets NNS I-NP +. . O +'' '' O + +However RB B-ADVP +, , O +he PRP B-NP +noted VBD B-VP +that DT B-SBAR +steel NN B-NP +mill NN I-NP +bookings NNS I-NP +are VBP B-VP +up IN B-ADVP +from IN B-PP +early JJ B-NP +summer NN I-NP +levels NNS I-NP +, , O +and CC O +that IN B-SBAR +he PRP B-NP +expects VBZ B-VP +the DT B-NP +company NN I-NP +to TO B-VP +improve VB I-VP +its PRP$ B-NP +cost NN I-NP +performance NN I-NP +in IN B-PP +the DT B-NP +fourth JJ I-NP +quarter NN I-NP +. . O + +In IN B-PP +the DT B-NP +first JJ I-NP +nine CD I-NP +months NNS I-NP +, , O +profit NN B-NP +was VBD B-VP +$ $ B-NP +113 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +3.04 CD I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +sales NNS B-NP +of IN B-PP +$ $ B-NP +3.19 CD I-NP +billion CD I-NP +, , O +compared VBN B-PP +with IN B-PP +$ $ B-NP +204.5 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +5.76 CD I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +sales NNS B-NP +of IN B-PP +$ $ B-NP +3.03 CD I-NP +billion CD I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +The DT B-NP +`` `` I-NP +seismic JJ I-NP +'' '' I-NP +activity NN I-NP +of IN B-PP +a DT B-NP +financial JJ I-NP +market NN I-NP +bears VBZ B-VP +a DT B-NP +resemblance NN I-NP +to TO B-PP +the DT B-NP +seismic JJ I-NP +activity NN I-NP +of IN B-PP +the DT B-NP +earth NN I-NP +. . O + +When WRB B-ADVP +things NNS B-NP +are VBP B-NP +quiet JJ I-NP +-LRB- ( O +low JJ B-NP +volatility NN I-NP +-RRB- ) O +, , O +the DT B-NP +structures NNS I-NP +on IN B-PP +which WDT B-NP +markets NNS B-NP +stand VBP B-VP +can MD B-VP +be VB I-VP +relatively RB B-ADJP +inefficient JJ I-ADJP +and CC O +still RB B-VP +perform VB I-VP +their PRP$ B-NP +functions NNS I-NP +adequately RB B-ADVP +. . O + +However RB B-ADVP +, , O +when WRB B-ADVP +powerful JJ B-NP +forces NNS I-NP +start VBP B-VP +shaking VBG I-VP +the DT B-NP +market NN I-NP +'s POS B-NP +structure NN I-NP +, , O +the DT O +more JJR B-ADJP +`` `` I-ADJP +earthquake-resistant JJ I-ADJP +'' '' O +it PRP B-NP +is VBZ B-VP +, , O +the DT O +better JJR O +its PRP$ B-NP +chance NN I-NP +for IN B-PP +survival NN B-NP +. . O + +America NNP B-NP +'s POS B-NP +financial JJ I-NP +markets NNS I-NP +do VBP B-VP +not RB I-VP +yet RB I-VP +have VB I-VP +all PDT B-NP +the DT I-NP +required VBN I-NP +modern JJ I-NP +features NNS I-NP +required VBN B-VP +to TO B-VP +make VB I-VP +them PRP B-NP +fully RB B-ADJP +`` `` I-ADJP +aftershock-resistant JJ I-ADJP +. . O +'' '' O + +Investors NNS B-NP +lack VBP B-VP +equal JJ B-NP +access NN I-NP +to TO B-PP +the DT B-NP +markets NNS I-NP +' POS B-NP +trading NN I-NP +arena NN I-NP +and CC O +its PRP$ B-NP +information NN I-NP +. . O + +That DT B-NP +structural JJ I-NP +lack NN I-NP +is VBZ B-VP +crucial JJ B-ADJP +because IN B-SBAR +investors NNS B-NP +are VBP B-VP +the DT B-NP +only JJ I-NP +source NN I-NP +of IN B-PP +market NN B-NP +liquidity NN I-NP +. . O + +And CC O +liquidity NN B-NP +is VBZ B-VP +what WP B-NP +markets VBZ B-NP +need VBP B-VP +to TO B-VP +damp VB I-VP +quakes NNS B-NP +and CC I-NP +aftershocks NNS I-NP +. . O + +In IN B-PP +today NN B-NP +'s POS B-NP +markets NNS I-NP +, , O +specialists NNS B-NP +-LRB- ( O +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +-RRB- ) O +and CC O +`` `` B-NP +upstairs NN I-NP +'' '' I-NP +market NN I-NP +makers NNS I-NP +-LRB- ( O +in IN B-PP +the DT B-NP +over-the-counter JJ I-NP +market NN I-NP +-RRB- ) O +are VBP B-VP +the DT B-NP +only JJ I-NP +market NN I-NP +participants NNS I-NP +allowed VBN B-VP +to TO I-VP +play VB I-VP +a DT B-NP +direct JJ I-NP +role NN I-NP +in IN B-PP +the DT B-NP +price-determination JJ I-NP +process NN I-NP +. . O + +When WRB B-ADVP +they PRP B-NP +halt VBP B-VP +trading VBG B-NP +, , O +all DT B-NP +market NN I-NP +liquidity NN I-NP +is VBZ B-VP +gone VBN B-ADJP +. . O + +And CC O +when WRB B-ADVP +any DT B-NP +component NN I-NP +of IN B-PP +the DT B-NP +market NN I-NP +-- : O +cash NN B-NP +, , I-NP +futures NNS I-NP +or CC I-NP +options NNS I-NP +-- : O +loses VBZ B-VP +liquidity NN B-NP +, , O +the DT B-NP +price NN I-NP +discovery NN I-NP +system NN I-NP +-LRB- ( O +the DT B-NP +way NN I-NP +prices NNS B-NP +are VBP B-VP +determined VBN I-VP +-RRB- ) O +becomes VBZ B-VP +flawed JJ B-ADJP +or CC O +is VBZ B-VP +lost VBN I-VP +entirely RB B-ADVP +for IN B-PP +a DT B-NP +time NN I-NP +. . O + +Last NNP B-NP +Friday NNP I-NP +the DT I-NP +13th JJ I-NP +-LRB- ( O +as RB B-PP +well RB I-PP +as IN I-PP +two CD B-NP +years NNS I-NP +ago RB B-ADVP +this DT B-NP +week NN I-NP +-RRB- ) O +the DT B-NP +markets NNS I-NP +became VBD B-VP +unlinked JJ B-ADJP +. . O + +When WRB B-ADVP +that WDT B-NP +happened VBD B-VP +, , O +`` `` B-NP +seismic JJ I-NP +'' '' I-NP +tremors NNS I-NP +of IN B-PP +fear NN B-NP +-- : O +much JJ B-ADVP +like IN B-PP +the DT B-NP +shock NN I-NP +waves NNS I-NP +created VBN B-VP +by IN B-PP +an DT B-NP +earthquake NN I-NP +-- : O +coursed VBN B-VP +through IN B-PP +the DT B-NP +market NN I-NP +and CC O +increased VBD B-VP +the DT B-NP +market NN I-NP +'s POS B-NP +volatility NN I-NP +. . O + +Lack NN B-NP +of IN B-PP +important JJ B-NP +, , I-NP +needed VBN I-NP +information NN I-NP +can MD B-VP +cause VB I-VP +fear NN B-NP +. . O + +Fear NN B-NP +is VBZ B-VP +the DT B-NP +father NN I-NP +of IN B-PP +panic NN B-NP +. . O + +Panic NN B-NP +frequently RB B-ADVP +results VBZ B-VP +in IN B-PP +irrational JJ B-NP +behavior NN I-NP +. . O + +And CC O +in IN B-PP +financial JJ B-NP +markets NNS I-NP +, , O +irrational JJ B-NP +behavior NN I-NP +is VBZ B-VP +sometimes RB I-VP +translated VBN I-VP +into IN B-PP +catastrophe NN B-NP +. . O + +When WRB B-ADVP +market NN B-NP +tremors NNS I-NP +start VBP B-VP +, , O +it PRP B-NP +is VBZ B-VP +crucial JJ B-ADJP +that IN B-SBAR +as IN B-NP +much JJ I-NP +information NN I-NP +about IN B-PP +transaction NN B-NP +prices NNS I-NP +and CC O +the DT B-NP +supply-demand JJ I-NP +curve NN I-NP +-LRB- ( O +buy VB B-NP +and CC I-NP +sell VB I-NP +orders NNS I-NP +at IN B-PP +various JJ B-NP +prices NNS I-NP +-RRB- ) O +be VB B-VP +made VBN I-VP +available JJ B-ADJP +to TO B-PP +all DT B-NP +, , O +not RB B-CONJP +just RB I-CONJP +to TO B-PP +market VB B-NP +makers NNS I-NP +. . O + +Because IN B-PP +of IN I-PP +a DT B-NP +lack NN I-NP +of IN B-PP +information NN B-NP +and CC I-NP +access NN I-NP +, , O +many JJ B-NP +investors NNS I-NP +-- : O +including VBG B-PP +the DT B-NP +very JJ I-NP +ones NNS I-NP +whose WP$ B-NP +buying VBG I-NP +power NN I-NP +could MD B-VP +restore VB I-VP +stability NN B-NP +and CC O +damp VB B-VP +volatility NN B-NP +-- : O +are VBP B-VP +forced VBN I-VP +to TO I-VP +stand VB I-VP +on IN B-PP +the DT B-NP +sidelines NNS I-NP +when WRB B-ADVP +they PRP B-NP +are VBP B-VP +most RBS I-VP +needed VBN I-VP +, , O +because IN B-PP +of IN I-PP +their PRP$ B-NP +ignorance NN I-NP +of IN B-PP +important JJ B-NP +market NN I-NP +information NN I-NP +. . O + +To TO B-VP +add VB I-VP +aftershock-damping JJ B-NP +power NN I-NP +to TO B-PP +America NNP B-NP +'s POS B-NP +markets NNS I-NP +, , O +a DT B-NP +modern NN I-NP +, , I-NP +electronic JJ I-NP +trading NN I-NP +system NN I-NP +should MD B-VP +be VB I-VP +implemented VBN I-VP +that WDT B-NP +permits VBZ B-VP +equal JJ B-NP +access NN I-NP +to TO B-PP +the DT B-NP +trading NN I-NP +arena NN I-NP +-LRB- ( O +and CC O +the DT B-NP +information NN I-NP +that WDT B-NP +would MD B-VP +automatically RB I-VP +accompany VB I-VP +such JJ B-NP +access NN I-NP +-RRB- ) O +by IN B-PP +investors NNS B-NP +-- : O +particularly RB B-ADVP +institutional JJ B-NP +investors NNS I-NP +. . O + +Contrary JJ B-ADVP +to TO B-PP +some DT B-NP +opinions NNS I-NP +, , O +the DT B-NP +trading NN I-NP +activities NNS I-NP +of IN B-PP +specialists NNS B-NP +and CC O +other JJ B-NP +market NN I-NP +makers NNS I-NP +do VBP B-VP +not RB I-VP +provide VB I-VP +liquidity NN B-NP +to TO B-PP +the DT B-NP +market NN I-NP +as IN B-PP +a DT B-NP +whole NN I-NP +. . O + +What WP B-NP +market NN B-NP +makers NNS I-NP +provide VBP B-VP +is VBZ B-VP +immediacy NN B-NP +, , O +a DT B-NP +very RB I-NP +valuable JJ I-NP +service NN I-NP +. . O + +Liquidity NN B-NP +is VBZ B-VP +not RB O +a DT B-NP +service NN I-NP +. . O + +It PRP B-NP +is VBZ B-VP +a DT B-NP +market NN I-NP +attribute VBP I-NP +-- : O +the DT B-NP +ability NN I-NP +to TO B-VP +absorb VB I-VP +selling VBG B-NP +orders NNS I-NP +without IN B-PP +causing VBG B-VP +significant JJ B-NP +price NN I-NP +changes NNS I-NP +in IN B-PP +the DT B-NP +absence NN I-NP +of IN B-PP +news NN B-NP +. . O + +Market NN B-NP +makers NNS I-NP +buy VBP B-VP +what WP B-NP +investors NNS B-NP +wish VBP B-VP +to TO I-VP +sell VB I-VP +; : O +their PRP$ B-NP +business NN I-NP +is VBZ B-VP +reselling VBG I-VP +these DT B-NP +unwanted JJ I-NP +positions NNS I-NP +as RB B-ADVP +quickly RB I-ADVP +as IN B-PP +possible JJ B-ADJP +to TO B-PP +other JJ B-NP +investors NNS I-NP +, , O +and CC O +at IN B-PP +a DT B-NP +profit NN I-NP +. . O + +As IN B-PP +a DT B-NP +result NN I-NP +, , O +while IN B-SBAR +any DT B-NP +one CD I-NP +customer NN I-NP +may MD B-VP +purchase VB I-VP +immediacy NN B-NP +by IN B-PP +selling VBG B-VP +to TO B-PP +a DT B-NP +market NN I-NP +maker NN I-NP +-LRB- ( O +which WDT B-NP +is VBZ B-VP +micro-liquidity NN B-NP +for IN B-PP +the DT B-NP +investor NN I-NP +-RRB- ) O +, , O +the DT B-NP +market NN I-NP +as IN B-PP +a DT B-NP +whole JJ I-NP +remains NNS B-VP +in IN B-PP +the DT B-NP +same JJ I-NP +circumstances NNS I-NP +it PRP B-NP +was VBD B-VP +before IN B-PP +the DT B-NP +transaction NN I-NP +: : O +The DT B-NP +unwanted JJ I-NP +position NN I-NP +is VBZ B-VP +still RB B-ADVP +an DT B-NP +unwanted JJ I-NP +position NN I-NP +; : O +only RB B-NP +the DT I-NP +identity NN I-NP +of IN B-PP +the DT B-NP +seller NN I-NP +has VBZ B-VP +changed VBN I-VP +. . O + +In IN B-PP +fact NN B-NP +it PRP B-NP +can MD B-VP +be VB I-VP +argued VBN I-VP +that IN B-SBAR +increasing VBG B-VP +capital NN B-NP +commitments NNS I-NP +by IN B-PP +market NN B-NP +makers NNS I-NP +-LRB- ( O +a DT B-NP +result NN I-NP +of IN B-PP +some DT B-NP +post-1987 JJ I-NP +crash NN I-NP +studies NNS I-NP +-RRB- ) O +also RB B-ADVP +increases NNS B-VP +market NN B-NP +volatility NN I-NP +, , O +since IN B-SBAR +the DT O +more JJR O +securities NNS B-NP +are VBP B-VP +held VBN I-VP +by IN B-PP +market NN B-NP +makers NNS I-NP +at IN B-PP +any DT B-NP +given VBN I-NP +time NN I-NP +, , O +the DT O +more JJR O +selling VBG B-NP +pressure NN I-NP +is VBZ B-VP +overhanging VBG I-VP +the DT B-NP +market NN I-NP +. . O + +In IN B-PP +an DT B-NP +open JJ I-NP +electronic JJ I-NP +system NN I-NP +, , O +any DT B-NP +investor NN I-NP +wishing VBG B-VP +to TO I-VP +pay VB I-VP +for IN B-PP +real-time JJ B-NP +access NN I-NP +to TO B-PP +the DT B-NP +trading NN I-NP +arena NN I-NP +through IN B-PP +a DT B-NP +registered VBN I-NP +broker-dealer NN I-NP +would MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +see VB I-VP +the DT B-NP +entire JJ I-NP +supply-demand JJ I-NP +curve NN I-NP +-LRB- ( O +buy VB B-NP +and CC I-NP +sell VB I-NP +orders NNS I-NP +at IN B-PP +each DT B-NP +price NN I-NP +-RRB- ) O +entered VBN B-VP +by IN B-PP +dealers NNS B-NP +and CC I-NP +investors NNS I-NP +alike RB B-ADVP +, , O +and CC O +to TO B-VP +enter VB I-VP +and CC I-VP +execute VB I-VP +orders NNS B-NP +. . O + +Current JJ B-NP +quotations NNS I-NP +would MD B-VP +reflect VB I-VP +the DT B-NP +combined VBN I-NP +financial JJ I-NP +judgment NN I-NP +of IN B-PP +all DT B-NP +market NN I-NP +participants NNS I-NP +-- : O +not RB B-CONJP +just RB I-CONJP +those DT B-NP +of IN B-PP +intermediaries NNS B-NP +who WP B-NP +become VBP B-VP +extremely RB B-ADJP +risk-averse JJ I-ADJP +during IN B-PP +times NNS B-NP +of IN B-PP +crisis NN B-NP +. . O + +Investors NNS B-NP +and CC I-NP +professionals NNS I-NP +alike RB B-ADVP +would MD B-VP +compete VB I-VP +on IN B-PP +the DT B-NP +level NN I-NP +playing VBG I-NP +field NN I-NP +Congress NNP B-NP +sought VBD B-VP +and CC O +called VBD B-VP +a DT B-NP +`` `` I-NP +national JJ I-NP +market NN I-NP +system NN I-NP +'' '' O +-LRB- ( O +not RB B-VP +yet RB I-VP +achieved VBN I-VP +-RRB- ) O +almost RB B-NP +15 CD I-NP +years NNS I-NP +ago RB B-ADVP +when WRB B-ADVP +it PRP B-NP +passed VBD B-VP +the DT B-NP +Securities NNP I-NP +Reform NNP I-NP +Act NNP I-NP +of IN B-PP +1975 CD B-NP +. . O + +Last NNP B-NP +Friday NNP I-NP +'s POS B-NP +market NN I-NP +gyrations NNS I-NP +did VBD B-VP +not RB I-VP +result VB I-VP +in IN B-PP +severe JJ B-NP +`` `` I-NP +aftershocks NNS I-NP +. . O +'' '' O + +Were VBD O +we PRP B-NP +smart JJ B-ADJP +or CC I-ADJP +just RB I-ADJP +lucky JJ I-ADJP +? . O + +I PRP B-NP +'m VBP B-VP +not RB O +certain JJ B-ADJP +. . O + +But CC O +I PRP B-NP +am VBP B-VP +sure JJ B-ADJP +we PRP B-NP +need VBP B-VP +to TO I-VP +maximize VB I-VP +our PRP$ B-NP +`` `` I-NP +earthquake NN I-NP +'' '' I-NP +protection NN I-NP +by IN B-PP +making VBG B-VP +certain JJ B-ADJP +that IN B-SBAR +our PRP$ B-NP +market NN I-NP +structures NNS I-NP +let VBP B-VP +investors NNS B-NP +add VBP B-VP +their PRP$ B-NP +mighty JJ I-NP +shock-damping JJ I-NP +power NN I-NP +to TO B-PP +our PRP$ B-NP +nation NN I-NP +'s POS B-NP +markets NNS I-NP +. . O + +Mr. NNP B-NP +Peake NNP I-NP +is VBZ B-VP +chairman NN B-NP +of IN B-PP +his PRP$ B-NP +own JJ I-NP +consulting NN I-NP +company NN I-NP +in IN B-PP +Englewood NNP B-NP +, , O +N.J NNP B-NP +. . O + +NOW RB B-ADVP +YOU PRP B-NP +SEE VBP B-VP +IT PRP B-NP +, , O +now RB B-ADVP +you PRP B-NP +do VBP B-VP +n't RB O +. . O + +The DT B-NP +recession NN I-NP +, , O +that WDT B-NP +is VBZ B-VP +. . O + +The DT B-NP +economy NN I-NP +'s POS B-NP +stutter NN I-NP +steps NNS I-NP +leave VBP B-VP +investors NNS B-NP +wondering VBG B-VP +whether IN O +things NNS B-NP +are VBP B-VP +slowing VBG I-VP +down RB B-PRT +or CC O +speeding VBG B-VP +up RB B-PRT +. . O + +So RB B-ADVP +often RB I-ADVP +are VBP O +government NN B-NP +statistics NNS I-NP +revised VBN B-VP +that IN B-SBAR +they PRP B-NP +seem VBP B-VP +to TO I-VP +resemble VB I-VP +a DT B-NP +spinning VBG I-NP +weather NN I-NP +vane NN I-NP +. . O + +For IN B-PP +the DT B-NP +past JJ I-NP +seven CD I-NP +years NNS I-NP +, , O +investors NNS B-NP +have VBP B-VP +had VBN I-VP +the DT B-NP +wind NN I-NP +at IN B-PP +their PRP$ B-NP +backs NNS I-NP +, , O +in IN B-PP +the DT B-NP +form NN I-NP +of IN B-PP +a DT B-NP +generally RB I-NP +growing VBG I-NP +economy NN I-NP +. . O + +Some DT B-NP +may MD B-VP +have VB I-VP +forgotten VBN I-VP +-- : O +and CC O +some DT B-NP +younger JJR I-NP +ones NNS I-NP +may MD B-VP +never RB I-VP +have VB I-VP +experienced VBN I-VP +-- : O +what WP B-NP +it PRP B-NP +'s VBZ B-VP +like VB B-PP +to TO B-VP +invest VB I-VP +during IN B-PP +a DT B-NP +recession NN I-NP +. . O + +Different JJ B-NP +tactics NNS I-NP +are VBP B-VP +called VBN I-VP +for IN B-PP +, , O +as IN B-SBAR +losing VBG B-VP +money NN B-NP +becomes VBZ B-VP +easier JJR B-ADJP +and CC O +making VBG B-VP +money NN B-NP +becomes VBZ B-VP +tougher JJR B-ADJP +. . O + +For IN B-PP +those DT B-NP +investors NNS I-NP +who WP B-NP +believe VBP B-VP +-- : O +or CC O +fear NN O +-- : O +that IN O +1990 CD B-NP +will MD B-VP +be VB I-VP +a DT B-NP +recession NN I-NP +year NN I-NP +, , O +many JJ B-NP +economists NNS I-NP +and CC I-NP +money NN I-NP +managers NNS I-NP +agree VBP B-VP +on IN B-PP +steps NNS B-NP +that WDT B-NP +can MD B-VP +be VB I-VP +taken VBN I-VP +to TO B-VP +lower JJR I-VP +the DT B-NP +risks NNS I-NP +in IN B-PP +a DT B-NP +portfolio NN I-NP +. . O + +In IN B-PP +a DT B-NP +nutshell NN I-NP +, , O +pros NNS B-NP +advise VBP B-VP +investors NNS B-NP +who WP B-NP +expect VBP B-VP +a DT B-NP +slowdown NN I-NP +to TO B-VP +hold VB I-VP +fewer JJR B-NP +stocks NNS I-NP +than IN B-PP +usual JJ B-ADJP +and CC O +to TO B-VP +favor VB I-VP +shares NNS B-NP +of IN B-PP +big JJ B-NP +companies NNS I-NP +in IN B-PP +`` `` B-NP +defensive JJ I-NP +'' '' I-NP +industries NNS I-NP +. . O + +A DT B-NP +heavy JJ I-NP +dose NN I-NP +of IN B-PP +cash NN B-NP +is VBZ B-VP +prescribed VBN I-VP +, , O +along IN B-ADVP +with IN B-PP +a DT B-NP +heavier-than-usual JJ I-NP +allotment NN I-NP +to TO B-PP +bonds NNS B-NP +-- : O +preferably RB B-ADVP +government NN B-NP +bonds NNS I-NP +. . O + +It PRP B-NP +'s VBZ B-VP +tempting JJ B-ADJP +to TO B-VP +think VB I-VP +these DT B-NP +defensive JJ I-NP +steps NNS I-NP +can MD B-VP +be VB I-VP +delayed VBN I-VP +until IN B-SBAR +a DT B-NP +recession NN I-NP +is VBZ B-VP +clearly RB B-ADVP +at IN B-PP +hand NN B-NP +. . O + +But CC O +that DT B-NP +may MD B-VP +not RB I-VP +be VB I-VP +possible JJ B-ADJP +, , O +because IN B-SBAR +recessions NNS B-NP +often RB B-ADVP +take VBP B-VP +investors NNS B-NP +by IN B-PP +surprise NN B-NP +. . O + +`` `` O +They PRP B-NP +always RB B-ADVP +seem VBP B-VP +to TO I-VP +come VB I-VP +a DT B-NP +bit NN I-NP +later RB B-ADVP +than IN B-SBAR +you PRP B-NP +expect VBP B-VP +. . O + +When WRB B-ADVP +they PRP B-NP +do VBP B-VP +hit VBD I-VP +, , O +they PRP B-NP +hit VBD B-VP +fast RB B-ADVP +, , O +'' '' O +says VBZ B-VP +David NNP B-NP +A. NNP I-NP +Wyss NNP I-NP +, , O +chief JJ B-NP +financial JJ I-NP +economist NN I-NP +at IN B-PP +the DT B-NP +Data NNP I-NP +Resources NNPS I-NP +division NN I-NP +of IN B-PP +McGraw-Hill NNP B-NP +Inc NNP I-NP +. . O + +Though IN B-SBAR +he PRP B-NP +himself PRP B-NP +does VBZ B-VP +n't RB I-VP +expect VB I-VP +a DT B-NP +recession NN I-NP +soon RB B-ADVP +, , O +Mr. NNP B-NP +Wyss NNP I-NP +advises VBZ B-VP +people NNS B-NP +who WP B-NP +do VBP B-VP +that IN B-SBAR +`` `` O +the DT B-NP +best JJS I-NP +thing NN I-NP +to TO B-VP +be VB I-VP +in IN B-PP +is VBZ B-VP +long JJ O +that DT B-NP +is VBZ B-VP +, , B-NP +20-year JJ I-NP +to TO I-NP +30-year NNP I-NP +Treasury NNP I-NP +bonds NNS I-NP +. . O +'' '' O + +The DT B-NP +reason NN I-NP +is VBZ B-VP +simple JJ B-ADJP +, , O +Mr. NNP B-NP +Wyss NNP I-NP +says VBZ B-VP +: : O +`` `` O +Interest NN B-NP +rates NNS I-NP +almost RB B-ADVP +always RB I-ADVP +decline VBP B-VP +during IN B-PP +recession NN B-NP +. . O +'' '' O + +As RB B-ADVP +surely RB I-ADVP +as IN B-SBAR +a DT B-NP +seesaw NN I-NP +tilts VBZ B-VP +, , O +falling VBG B-NP +interest NN I-NP +rates NNS I-NP +force VBP B-VP +up IN B-ADVP +the DT B-NP +price NN I-NP +of IN B-PP +previously RB B-NP +issued VBN I-NP +bonds NNS I-NP +. . O + +They PRP B-NP +are VBP B-VP +worth RB B-PP +more JJR B-NP +because IN B-SBAR +they PRP B-NP +pay VBP B-VP +higher JJR B-NP +interest NN I-NP +than IN B-SBAR +newly RB B-NP +issued VBN I-NP +bonds NNS I-NP +do VBP B-VP +. . O + +That DT B-NP +effect NN I-NP +holds VBZ B-VP +true JJ B-ADJP +for IN B-PP +both DT B-NP +short-term JJ I-NP +and CC I-NP +long-term JJ I-NP +bonds NNS I-NP +. . O + +But CC O +short-term JJ B-NP +bonds NNS I-NP +ca MD B-VP +n't RB I-VP +rise VB I-VP +too RB B-ADVP +much JJ I-ADVP +, , O +because IN B-SBAR +everyone NN B-NP +knows VBZ B-VP +they PRP B-NP +will MD O +be VB B-VP +redeemed VBN I-VP +at IN B-PP +a DT B-NP +preset JJ I-NP +price NN I-NP +fairly RB B-ADVP +soon RB I-ADVP +. . O + +Long-term JJ B-NP +bonds NNS I-NP +, , O +with IN B-PP +many JJ B-NP +years NNS I-NP +left VBN B-ADJP +before IN B-PP +maturity NN B-NP +, , O +swing NN B-VP +more RBR B-ADVP +widely RB I-ADVP +in IN B-PP +price NN B-NP +. . O + +But CC O +not RB B-NP +just RB I-NP +any DT I-NP +bonds NNS I-NP +will MD B-VP +do VB I-VP +. . O + +Corporate JJ B-NP +bonds NNS I-NP +`` `` O +are VBP B-VP +usually RB B-ADVP +not RB O +a DT B-NP +good JJ I-NP +bet NN I-NP +in IN B-PP +a DT B-NP +recession NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Wyss NNP I-NP +says VBZ B-VP +. . O + +As IN B-SBAR +times NNS B-NP +get VBP B-VP +tougher JJR B-ADJP +, , O +investors NNS B-NP +fret VBP B-VP +about IN B-PP +whether IN B-SBAR +companies NNS B-NP +will MD B-VP +have VB I-VP +enough JJ B-NP +money NN I-NP +to TO B-VP +pay VB I-VP +their PRP$ B-NP +debts NNS I-NP +. . O + +This DT B-NP +hurts VBZ B-VP +the DT B-NP +price NN I-NP +of IN B-PP +corporate JJ B-NP +bonds NNS I-NP +. . O + +Also RB B-ADVP +, , O +he PRP B-NP +notes VBZ B-VP +, , O +`` `` O +most RBS B-NP +corporate JJ I-NP +bonds NNS I-NP +are VBP B-VP +callable JJ B-ADJP +. . O +'' '' O + +That DT B-NP +means VBZ B-VP +that IN B-SBAR +a DT B-NP +corporation NN I-NP +, , O +after IN B-SBAR +a DT B-NP +specified VBN I-NP +amount NN I-NP +of IN B-PP +time NN B-NP +has VBZ B-VP +passed VBN I-VP +, , O +can MD B-VP +buy VB I-VP +back RB B-ADVP +its PRP$ B-NP +bonds NNS I-NP +by IN B-PP +paying VBG B-VP +investors NNS B-NP +the DT B-NP +face NN I-NP +value NN I-NP +-LRB- ( O +plus CC O +, , O +in IN B-PP +some DT B-NP +cases NNS I-NP +, , O +a DT B-NP +sweetener NN I-NP +-RRB- ) O +. . O + +When WRB B-ADVP +interest NN B-NP +rates NNS I-NP +have VBP B-VP +dropped VBN I-VP +, , O +it PRP B-NP +makes VBZ B-VP +sense NN B-NP +for IN B-SBAR +corporations NNS B-NP +to TO B-VP +do VB I-VP +just RB B-NP +that IN I-NP +; : O +they PRP B-NP +then RB B-ADVP +save VBP B-VP +on IN B-PP +interest NN B-NP +costs NNS I-NP +. . O + +But CC O +the DT B-NP +investors NNS I-NP +are VBP B-VP +left VBN I-VP +stranded VBN I-VP +with IN B-PP +money NN B-NP +to TO B-VP +reinvest VB I-VP +at IN B-PP +a DT B-NP +time NN I-NP +when WRB B-ADVP +interest NN B-NP +rates NNS I-NP +are VBP B-VP +puny JJ B-ADJP +. . O + +If IN B-SBAR +corporate JJ B-NP +bonds NNS I-NP +are VBP B-VP +bad JJ B-ADJP +in IN B-PP +recessions NNS B-NP +, , O +junk NN B-NP +bonds NNS I-NP +are VBP B-VP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +the DT B-NP +worst JJS I-NP +of IN B-PP +all DT B-NP +. . O + +It PRP B-NP +'s VBZ B-VP +an DT B-NP +`` `` I-NP +absolute JJ I-NP +necessity NN I-NP +'' '' O +to TO B-VP +get VB I-VP +out IN B-PP +of IN B-PP +junk NN B-NP +bonds NNS I-NP +when WRB B-ADVP +a DT B-NP +recession NN I-NP +is VBZ B-VP +in IN B-PP +the DT B-NP +offing NN I-NP +, , O +says VBZ B-VP +Avner NNP B-NP +Arbel NNP I-NP +, , O +professor NN B-NP +of IN B-PP +finance NN B-NP +at IN B-PP +Cornell NNP B-NP +University NNP I-NP +. . O + +`` `` O +Such JJ B-NP +bonds NNS I-NP +are VBP B-VP +very RB B-ADJP +sensitive JJ I-ADJP +to TO B-PP +the DT B-NP +downside NN I-NP +, , O +and CC O +this DT B-NP +could MD B-VP +be VB I-VP +a DT B-NP +disaster NN I-NP +. . O +'' '' O + +Municipal JJ B-NP +bonds NNS I-NP +are VBP B-VP +generally RB B-ADVP +a DT B-ADJP +bit NN I-ADJP +safer JJR I-ADJP +than IN B-PP +corporate JJ B-NP +bonds NNS I-NP +in IN B-PP +a DT B-NP +recession NN I-NP +, , O +but CC O +not RB B-ADJP +as RB I-ADJP +safe JJ I-ADJP +as IN B-PP +bonds NNS B-NP +issued VBN B-VP +by IN B-PP +the DT B-NP +federal JJ I-NP +government NN I-NP +. . O + +During IN B-PP +an DT B-NP +economic JJ I-NP +slump NN I-NP +, , O +local JJ B-NP +tax NN I-NP +revenues NNS I-NP +often RB B-ADVP +go VBP B-VP +down RB B-ADVP +, , O +raising VBG B-VP +the DT B-NP +risks NNS I-NP +associated VBN B-VP +with IN B-PP +at IN B-ADVP +least JJS I-ADVP +some DT B-NP +municipals NNS I-NP +. . O + +And CC O +, , O +like IN B-PP +corporates NNS B-NP +, , O +many JJ B-NP +municipal JJ I-NP +bonds NNS I-NP +are VBP B-VP +callable JJ B-ADJP +. . O + +But CC O +a DT B-NP +few JJ I-NP +experts NNS I-NP +, , O +going VBG B-VP +against IN B-PP +the DT B-NP +consensus NN I-NP +, , O +do VBP B-VP +n't RB I-VP +think VB I-VP +bonds NNS B-NP +would MD B-VP +help VB I-VP +investors NNS B-NP +even RB B-SBAR +if IN I-SBAR +a DT B-NP +recession NN I-NP +is VBZ B-VP +in IN B-PP +the DT B-NP +offing NN I-NP +. . O + +One CD B-NP +of IN B-PP +these DT B-NP +is VBZ B-VP +Jeffrey NNP B-NP +L. NNP I-NP +Beach NNP I-NP +, , O +director NN B-NP +of IN B-PP +research NN B-NP +for IN B-PP +Underwood NNP B-NP +Neuhaus NNP I-NP +& CC O +Co. NNP B-NP +, , O +a DT B-NP +brokerage NN I-NP +house NN I-NP +in IN B-PP +Houston NNP B-NP +, , O +who WP B-NP +thinks VBZ B-VP +that IN B-SBAR +`` `` O +we PRP B-NP +'re VBP B-VP +either DT O +in NN B-PP +a DT B-NP +recession NN I-NP +or CC O +about IN B-ADJP +to TO B-VP +go VB I-VP +into IN B-PP +one CD B-NP +. . O +'' '' O + +What WP B-NP +'s VBZ B-VP +more JJR B-NP +, , O +he PRP B-NP +thinks VBZ B-VP +this DT B-NP +could MD B-VP +be VB I-VP +a DT B-NP +nastier JJR I-NP +recession NN I-NP +than IN B-PP +usual JJ B-ADJP +: : O +`` `` O +Once RB O +the DT B-NP +downturn NN I-NP +comes VBZ B-VP +, , O +it PRP B-NP +'s VBZ B-VP +going VBG I-VP +to TO I-VP +be VB I-VP +very RB B-ADJP +hard JJ I-ADJP +to TO B-VP +reverse VB I-VP +. . O +'' '' O + +Investors NNS B-NP +, , O +he PRP B-NP +advises VBZ B-VP +, , O +`` `` O +should MD B-VP +be VB I-VP +cautious JJ B-ADJP +, , O +'' '' O +holding VBG B-VP +fewer JJR B-NP +stocks NNS I-NP +than IN B-PP +usual JJ B-ADJP +and CC O +also RB B-ADVP +shunning VBG B-VP +bonds NNS B-NP +. . O + +Because IN B-SBAR +he PRP B-NP +sees VBZ B-VP +a DT B-NP +`` `` I-NP +5 NN I-NP +% NN I-NP +to TO I-NP +6 CD I-NP +% NN I-NP +base NN I-NP +rate NN I-NP +of IN B-PP +inflation NN B-NP +in IN B-PP +the DT B-NP +economy NN I-NP +, , O +'' '' O +he PRP B-NP +doubts VBZ B-VP +that IN B-SBAR +interest NN B-NP +rates NNS I-NP +will MD B-VP +fall VB I-VP +much JJ B-ADVP +any DT B-NP +time NN I-NP +soon RB B-ADVP +. . O + +Instead RB B-ADVP +, , O +Mr. NNP B-NP +Beach NNP I-NP +says VBZ B-VP +, , O +investors NNS B-NP +`` `` O +probably RB B-ADVP +should MD B-VP +be VB I-VP +carrying VBG I-VP +a DT B-NP +very RB I-NP +high JJ I-NP +level NN I-NP +of IN B-PP +cash NN B-NP +, , O +'' '' O +by IN B-PP +which WDT B-NP +he PRP B-NP +means VBZ B-VP +such JJ B-NP +so-called JJ I-NP +cash NN I-NP +equivalents NNS I-NP +as IN B-PP +money-market JJ B-NP +funds NNS I-NP +and CC O +Treasury NNP B-NP +bills NNS I-NP +. . O + +Greg NNP B-NP +Confair NNP I-NP +, , O +president NN B-NP +of IN B-PP +Sigma NNP B-NP +Financial NNP I-NP +Inc. NNP I-NP +in IN B-PP +Allentown NNP B-NP +, , O +Pa. NNP B-NP +, , O +also RB B-ADVP +recommends VBZ B-VP +that IN B-SBAR +investors NNS B-NP +go VBP B-VP +heavily RB B-ADVP +for IN B-PP +cash NN B-NP +. . O + +He PRP B-NP +is VBZ B-VP +n't RB O +sure JJ B-ADJP +a DT B-NP +recession NN I-NP +is VBZ B-VP +coming VBG I-VP +, , O +but CC O +says VBZ B-VP +the DT B-NP +other JJ I-NP +likely JJ I-NP +alternative NN I-NP +-- : O +reignited VBD B-NP +inflation NN I-NP +-- : O +is VBZ B-VP +just RB B-ADJP +as IN I-ADJP +bad NN I-ADJP +. . O + +`` `` O +This DT B-ADVP +late RB I-ADVP +in IN B-PP +an DT B-NP +expansion NN I-NP +, , O +'' '' O +the DT B-NP +economy NN I-NP +tends VBZ B-VP +to TO I-VP +veer VB I-VP +off IN B-PRT +either DT O +into IN B-PP +damaging JJ B-NP +inflation NN I-NP +or CC B-PP +into IN B-PP +a DT B-NP +recession NN I-NP +, , O +Mr. NNP B-NP +Confair NNP I-NP +says VBZ B-VP +. . O + +The DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +Board NNP I-NP +'s POS B-NP +plan NN I-NP +for IN B-PP +a DT B-NP +`` `` I-NP +soft JJ I-NP +landing NN I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +, , O +requires VBZ B-VP +the DT B-NP +Fed NNP I-NP +to TO B-VP +navigate VB I-VP +`` `` O +an DT B-NP +ever-narrowing JJ I-NP +corridor NN I-NP +. . O +'' '' O + +A DT B-NP +soft JJ I-NP +landing NN I-NP +is VBZ B-VP +n't RB O +something NN B-NP +that WDT B-NP +can MD B-VP +be VB I-VP +achieved VBN I-VP +once RB B-ADVP +and CC B-ADVP +for IN B-PP +all DT B-NP +, , O +Mr. NNP B-NP +Confair NNP I-NP +adds VBZ B-VP +. . O + +It PRP B-NP +has VBZ B-VP +to TO I-VP +be VB I-VP +engineered VBN I-VP +over IN B-ADVP +and CC I-ADVP +over IN I-ADVP +again RB I-ADVP +, , O +month NN B-NP +after IN B-PP +month NN B-NP +. . O + +He PRP B-NP +believes VBZ B-VP +that IN B-SBAR +the DT B-NP +task NN I-NP +facing VBG B-VP +Fed NNP B-NP +Chairman NNP I-NP +Alan NNP I-NP +Greenspan NNP I-NP +is VBZ B-VP +so RB B-ADJP +difficult JJ I-ADJP +that IN B-SBAR +it PRP B-NP +resembles VBZ B-VP +`` `` O +juggling VBG B-VP +a DT B-NP +double-bladed JJ I-NP +ax NN I-NP +and CC O +a DT B-NP +buzz NN I-NP +saw VBD I-NP +. . O +'' '' O + +And CC O +, , O +in IN B-PP +a DT B-NP +sense NN I-NP +, , O +that DT B-NP +'s VBZ B-VP +the DT B-NP +kind NN I-NP +of IN B-PP +task NN B-NP +individuals NNS B-NP +face VBP B-VP +in IN B-PP +deciding VBG B-VP +what WP B-NP +to TO B-VP +do VB I-VP +about IN B-PP +stocks NNS B-NP +-- : O +the DT B-NP +mainstay NN I-NP +of IN B-PP +most RBS B-NP +serious JJ I-NP +investors NNS I-NP +' POS B-NP +portfolios NNS I-NP +. . O + +It PRP B-NP +comes VBZ B-VP +down RB B-ADVP +to TO B-PP +a DT B-NP +question NN I-NP +of IN B-PP +whether IN B-SBAR +to TO B-VP +try VB I-VP +to TO I-VP +`` `` I-VP +time NN I-VP +'' '' O +the DT B-NP +market NN I-NP +. . O + +For IN B-PP +people NNS B-NP +who WP B-NP +can MD B-VP +ride VB I-VP +out RP B-PRT +market NN B-NP +waves NNS I-NP +through IN B-PP +good JJ B-NP +times NNS I-NP +and CC O +bad JJ B-NP +, , O +stocks NNS B-NP +have VBP B-VP +been VBN I-VP +rewarding JJ B-NP +long-term JJ I-NP +investments NNS I-NP +. . O + +Most JJS B-NP +studies NNS I-NP +show VBP B-VP +that IN B-SBAR +buy-and-hold JJ B-NP +investors NNS I-NP +historically RB B-ADVP +have VBP B-VP +earned VBN I-VP +an DT B-NP +annual JJ I-NP +return NN I-NP +from IN B-PP +stocks NNS B-NP +of IN B-PP +9 CD B-NP +% NN I-NP +to TO I-NP +10 CD I-NP +% NN I-NP +, , O +including VBG B-PP +both DT B-NP +dividends NNS I-NP +and CC I-NP +price NN I-NP +appreciation NN I-NP +. . O + +That DT B-NP +'s VBZ B-VP +well RB B-ADVP +above IN B-PP +what WP B-NP +bonds NNS B-NP +or CC I-NP +bank NN I-NP +certificates NNS I-NP +have VBP B-VP +paid VBN I-VP +. . O + +Moreover RB B-ADVP +, , O +because IN B-SBAR +no DT B-NP +one CD I-NP +knows VBZ B-VP +for IN B-PP +sure JJ B-ADJP +just RB B-ADVP +when WRB B-ADVP +a DT B-NP +recession NN I-NP +is VBZ B-VP +coming VBG I-VP +, , O +some DT B-NP +analysts NNS I-NP +think VBP B-VP +investors NNS B-NP +should MD B-VP +n't RB I-VP +even RB I-VP +worry VB I-VP +too RB B-ADVP +much JJ I-ADVP +about IN B-PP +timing NN B-NP +. . O + +`` `` O +Trying VBG B-VP +to TO I-VP +time VB I-VP +the DT B-NP +economy NN I-NP +is VBZ B-VP +a DT B-NP +mistake NN I-NP +, , O +'' '' O +says VBZ B-VP +David NNP B-NP +Katz NNP I-NP +, , O +chief JJ B-NP +investment NN I-NP +officer NN I-NP +of IN B-PP +Value NNP B-NP +Matrix NNP I-NP +Management NNP I-NP +Inc. NNP I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +. . O + +Mr. NNP B-NP +Katz NNP I-NP +notes VBZ B-VP +that IN B-SBAR +some DT B-NP +economists NNS I-NP +have VBP B-VP +been VBN I-VP +predicting VBG I-VP +a DT B-NP +recession NN I-NP +for IN B-PP +at IN B-NP +least JJS I-NP +two CD I-NP +years NNS I-NP +. . O + +Investors NNS B-NP +who WP B-NP +listened VBD B-VP +, , O +and CC O +lightened VBD B-VP +up IN B-PRT +on IN B-PP +stocks NNS B-NP +, , O +`` `` O +have VBP B-VP +just RB I-VP +hurt VBN I-VP +themselves PRP B-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +Mr. NNP B-NP +Katz NNP I-NP +adds VBZ B-VP +that IN B-SBAR +people NNS B-NP +who WP B-NP +jump VBP B-VP +in IN B-PP +and CC B-PP +out IN B-PP +of IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +need NN B-VP +to TO I-VP +be VB I-VP +right NN B-ADJP +about IN B-NP +70 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +time NN I-NP +to TO B-VP +beat VB I-VP +a DT B-NP +buy-and-hold JJ I-NP +strategy NN I-NP +. . O + +Frequent JJ B-NP +trading NN I-NP +runs VBZ I-NP +up IN O +high JJ B-NP +commission NN I-NP +costs NNS I-NP +. . O + +And CC O +the DT B-NP +in-and-outer NN I-NP +might MD B-VP +miss VB I-VP +the DT B-NP +sudden JJ I-NP +spurts NNS I-NP +that WDT B-NP +account VBP B-VP +for IN B-PP +much NN B-NP +of IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +'s POS B-NP +gains NNS I-NP +over IN B-PP +time NN B-NP +. . O + +Still RB B-ADVP +, , O +few JJ B-NP +investors NNS I-NP +are VBP B-VP +able JJ B-ADJP +to TO B-VP +sit VB I-VP +tight JJ B-ADVP +when WRB B-ADVP +they PRP B-NP +are VBP B-VP +convinced VBN B-ADJP +a DT B-NP +recession NN I-NP +is VBZ B-VP +coming VBG I-VP +. . O + +After IN B-PP +all DT B-NP +, , O +in IN B-PP +all DT B-NP +five CD I-NP +recessions NNS I-NP +since IN B-PP +1960 CD B-NP +, , O +stocks NNS B-NP +declined VBD B-VP +. . O + +According VBG B-PP +to TO B-PP +Ned NNP B-NP +Davis NNP I-NP +, , O +president NN B-NP +of IN B-PP +Ned NNP B-NP +Davis NNP I-NP +Research NNP I-NP +Inc. NNP I-NP +in IN B-PP +Nokomis NNP B-NP +, , O +Fla. NNP B-NP +, , O +the DT B-NP +average JJ I-NP +drop NN I-NP +in IN B-PP +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +was VBD B-VP +about IN B-NP +21 CD I-NP +% NN I-NP +, , O +and CC O +the DT B-NP +decrease NN I-NP +began VBD B-VP +an DT B-NP +average NN I-NP +of IN B-PP +six CD B-NP +months NNS I-NP +before IN B-SBAR +a DT B-NP +recession NN I-NP +officially RB B-ADVP +started VBD B-VP +. . O + +By IN B-PP +the DT B-NP +time NN I-NP +a DT B-NP +recession NN I-NP +is VBZ B-VP +`` `` O +official NN B-ADJP +'' '' O +-LRB- ( O +two CD B-NP +consecutive JJ I-NP +quarters NNS I-NP +of IN B-PP +declining VBG B-NP +gross JJ I-NP +national JJ I-NP +product NN I-NP +-RRB- ) O +, , O +much NN B-NP +of IN B-PP +the DT B-NP +damage NN I-NP +to TO B-PP +stocks NNS B-NP +has VBZ B-VP +already RB I-VP +been VBN I-VP +done VBN I-VP +- : O +and CC O +, , O +in IN B-PP +the DT B-NP +typical JJ I-NP +case NN I-NP +, , O +the DT B-NP +recession NN I-NP +is VBZ B-VP +already RB B-ADVP +half NN B-ADJP +over RB I-ADJP +. . O + +About IN B-NP +six CD I-NP +months NNS I-NP +before IN B-SBAR +a DT B-NP +recession NN I-NP +ends NNS B-VP +, , O +stocks NNS B-NP +typically RB B-ADVP +begin VBP B-VP +to TO I-VP +rise VB I-VP +again RB B-ADVP +, , O +as IN B-SBAR +investors NNS B-NP +anticipate VBP B-VP +a DT B-NP +recovery NN I-NP +. . O + +The DT B-NP +average JJ I-NP +recession NN I-NP +lasts VBZ B-VP +about IN B-NP +a DT I-NP +year NN I-NP +. . O + +Unfortunately RB B-ADVP +, , O +though RB B-ADVP +, , O +recessions NNS B-NP +vary VBP B-VP +enough RB B-ADVP +in IN B-PP +length NN B-NP +so RB B-SBAR +that IN I-SBAR +the DT B-NP +average JJ I-NP +ca MD B-VP +n't RB I-VP +reliably RB I-VP +be VB I-VP +used VBN I-VP +to TO B-VP +guide VB I-VP +investors NNS B-NP +in IN B-PP +timing NN B-VP +stock NN B-NP +sales NNS I-NP +or CC I-NP +purchases NNS I-NP +. . O + +But CC O +whatever WDT B-NP +their PRP$ I-NP +advice NN I-NP +about IN B-PP +timing NN B-NP +, , O +none NN B-NP +of IN B-PP +these DT B-NP +experts NNS I-NP +recommend VBP B-VP +jettisoning VBG I-VP +stocks NNS B-NP +entirely RB B-ADVP +during IN B-PP +a DT B-NP +recession NN I-NP +. . O + +For IN B-PP +the DT B-NP +portion NN I-NP +of IN B-PP +an DT B-NP +investor NN I-NP +'s POS B-NP +portfolio NN I-NP +that WDT B-NP +stays VBZ B-VP +in IN B-PP +stocks NNS B-NP +, , O +professionals NNS B-NP +have VBP B-VP +a DT B-NP +number NN I-NP +of IN B-PP +suggestions NNS B-NP +. . O + +Mr. NNP B-NP +Katz NNP I-NP +advocates VBZ B-VP +issues NNS B-NP +with IN B-PP +low JJ B-NP +price-earnings JJ I-NP +ratios NNS I-NP +-- : O +that DT B-NP +is VBZ B-VP +, , O +low JJ B-NP +prices NNS I-NP +in IN B-PP +relation NN B-NP +to TO B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +earnings NNS I-NP +per IN B-PP +share NN B-NP +. . O + +`` `` B-NP +Low NNP I-NP +P-E NNP I-NP +'' '' I-NP +stocks NNS I-NP +, , O +he PRP B-NP +says VBZ B-VP +, , O +vastly RB B-ADVP +outperform VB B-VP +others NNS B-NP +`` `` O +during IN B-PP +a DT B-NP +recession NN I-NP +or CC I-NP +bear VB I-NP +market NN I-NP +. . O +'' '' O + +In IN B-PP +good JJ B-NP +times NNS I-NP +, , O +he PRP B-NP +says VBZ B-VP +, , O +they PRP B-NP +lag VBP B-VP +a DT B-NP +bit NN I-NP +, , O +but CC O +overall JJ B-ADVP +they PRP B-NP +provide VBP B-VP +superior JJ B-NP +performance NN I-NP +. . O + +Prof. NNP B-NP +Arbel NNP I-NP +urges VBZ B-VP +investors NNS B-NP +to TO B-VP +discard VB I-VP +stocks NNS B-NP +in IN B-PP +small JJ B-NP +companies NNS I-NP +. . O + +Small-company JJ B-NP +shares NNS I-NP +typically RB B-ADVP +fall VBP B-VP +more JJR B-ADVP +than IN B-PP +big-company JJ B-NP +stocks NNS I-NP +in IN B-PP +a DT B-NP +recession NN I-NP +, , O +he PRP B-NP +says VBZ B-VP +. . O + +And CC O +in IN B-PP +any DT B-NP +case NN I-NP +, , O +he PRP B-NP +argues VBZ B-VP +, , O +stocks VBZ B-NP +of IN B-PP +small JJ B-NP +companies NNS I-NP +are VBP B-VP +`` `` O +almost RB B-ADJP +as RB I-ADJP +overpriced VBN I-ADJP +as IN B-SBAR +they PRP B-NP +were VBD B-VP +Sept. NNP B-NP +30 CD I-NP +, , I-NP +1987 CD I-NP +, , O +just RB B-ADVP +before IN B-PP +the DT B-NP +crash NN I-NP +. . O +'' '' O + +For IN B-PP +example NN B-NP +, , O +Mr. NNP B-NP +Arbel NNP I-NP +says VBZ B-VP +, , O +stocks VBZ B-NP +of IN B-PP +small JJ B-NP +companies NNS I-NP +are VBP B-VP +selling VBG I-VP +for IN B-PP +about IN B-NP +19 CD I-NP +times NNS I-NP +cash NN I-NP +flow NN I-NP +. . O + +-LRB- ( O +Cash NNP B-NP +flow NN I-NP +, , O +basically RB B-ADVP +earnings NNS B-NP +plus CC I-NP +depreciation NN I-NP +, , O +is VBZ B-VP +one CD B-NP +common JJ I-NP +gauge NN I-NP +of IN B-PP +a DT B-NP +company NN I-NP +'s POS B-NP +financial JJ I-NP +health NN I-NP +. . O +-RRB- ) O + +That DT B-NP +ratio NN I-NP +is VBZ B-VP +dangerously RB B-ADVP +close RB I-ADVP +to TO B-PP +the DT B-NP +ratio NN I-NP +of IN B-PP +19.7 CD B-NP +that WDT B-NP +prevailed VBD B-VP +before IN B-PP +the DT B-NP +1987 CD I-NP +stock-market NN I-NP +crash NN I-NP +, , O +Mr. NNP B-NP +Arbel NNP I-NP +says VBZ B-VP +. . O + +And CC O +it PRP B-NP +'s VBZ B-VP +way NN B-NP +above IN B-PP +the DT B-NP +ratio NN I-NP +-LRB- ( O +7.5 CD B-NP +times NNS I-NP +cash NN I-NP +flow NN I-NP +-RRB- ) O +that IN B-NP +bigger JJR B-NP +companies NNS I-NP +are VBP B-VP +selling VBG I-VP +for RB B-PP +. . O + +Another DT B-NP +major JJ I-NP +trick NN I-NP +in IN B-PP +making VBG B-VP +a DT B-NP +portfolio NN I-NP +recession-resistant JJ B-ADJP +is VBZ B-VP +choosing VBG I-VP +stocks NNS B-NP +in IN B-PP +`` `` B-NP +defensive JJ I-NP +'' '' I-NP +industries NNS I-NP +. . O + +Food NNP B-NP +, , I-NP +tobacco NN I-NP +, , I-NP +drugs NNS I-NP +and CC I-NP +utilities NNS I-NP +are VBP B-VP +the DT B-NP +classic JJ I-NP +examples NNS I-NP +. . O + +Recession NN B-NP +or CC I-NP +not RB I-NP +, , O +people NNS B-NP +still RB B-ADVP +eat VBP B-VP +, , O +smoke NN B-VP +, , O +and CC O +take VB B-VP +medicine NN B-NP +when WRB B-ADVP +they PRP B-NP +'re VBP B-VP +sick JJ B-ADJP +. . O + +George NNP B-NP +Putnam NNP I-NP +III NNP I-NP +, , O +editor NN B-NP +of IN B-PP +Turnaround NNP B-NP +Letter NNP I-NP +in IN B-PP +Boston NNP B-NP +, , O +offers VBZ B-VP +one CD B-NP +final JJ I-NP +tip NN I-NP +for IN B-PP +recession-wary JJ B-NP +investors NNS I-NP +. . O + +`` `` O +Keep VB B-VP +some DT B-NP +money NN I-NP +available JJ B-ADJP +for IN B-PP +opportunities NNS B-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +`` `` O +If IN B-SBAR +the DT B-NP +recession NN I-NP +does VBZ B-VP +hit VBN I-VP +, , O +there EX B-NP +will MD B-VP +be VB I-VP +some DT B-NP +great JJ I-NP +investment NN I-NP +opportunities NNS I-NP +just RB B-ADVP +when WRB B-ADVP +things NNS B-NP +seem VBP B-VP +the DT B-NP +blackest JJS I-NP +. . O +'' '' O + +Mr. NNP B-NP +Dorfman NNP I-NP +covers VBZ B-VP +investing VBG B-NP +issues NNS I-NP +from IN B-PP +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +'s POS B-NP +New NNP I-NP +York NNP I-NP +bureau NN I-NP +. . O + +Some DT B-NP +industry NN I-NP +groups NNS I-NP +consistently RB B-ADVP +weather VBP B-VP +the DT B-NP +storm NN I-NP +better JJR B-ADVP +than IN B-PP +others NNS B-NP +. . O + +The DT B-NP +following VBG I-NP +shows VBZ B-VP +the DT B-NP +number NN I-NP +of IN B-PP +times VBZ B-NP +these DT B-NP +industries NNS I-NP +outperformed VBD B-VP +the DT O +Standard NNP B-NP +& CC I-NP +Poor NNP I-NP +'s POS B-NP +500-Stock NNP I-NP +Index NNP I-NP +during IN B-PP +the DT B-NP +first JJ I-NP +six CD I-NP +months NNS I-NP +of IN B-PP +the DT B-NP +past JJ I-NP +seven CD I-NP +recessions NNS I-NP +. . O + +Bond NN B-NP +prices NNS I-NP +posted VBD B-VP +strong JJ B-NP +gains NNS I-NP +as IN B-SBAR +investors NNS B-NP +went VBD B-VP +on IN B-PP +a DT B-NP +bargain NN I-NP +hunt NN I-NP +. . O + +But CC O +while IN B-SBAR +the DT B-NP +overall JJ I-NP +market NN I-NP +improved VBN B-VP +, , O +the DT B-NP +new-issue JJ I-NP +junk-bond NN I-NP +market NN I-NP +continued VBD B-VP +to TO I-VP +count VB I-VP +casualties NNS B-NP +, , O +even RB B-SBAR +as IN I-SBAR +junk-bond NN B-NP +prices NNS I-NP +rose VBD B-VP +. . O + +Yesterday NN B-NP +, , O +Prudential-Bache NNP B-NP +Securities NNP I-NP +Inc. NNP I-NP +said VBD B-VP +it PRP B-NP +postponed VBD B-VP +a DT B-NP +$ $ I-NP +220 CD I-NP +million CD I-NP +senior JJ I-NP +subordinated VBN I-NP +debenture NN I-NP +offering NN I-NP +by IN B-PP +York NNP B-NP +International NNP I-NP +Corp NNP I-NP +. . O + +And CC O +Donaldson NNP B-NP +, , I-NP +Lufkin NNP I-NP +& CC I-NP +Jenrette NNP I-NP +Securities NNP I-NP +Corp. NNP I-NP +scrambled VBD B-VP +to TO I-VP +restructure VB I-VP +and CC O +improve VB B-VP +the DT B-NP +potential JJ I-NP +returns NNS I-NP +on IN B-PP +a DT B-NP +$ $ I-NP +475 CD I-NP +million CD I-NP +debenture NN I-NP +offering NN I-NP +by IN B-PP +Chicago NNP B-NP +& CC I-NP +North NNP I-NP +Western NNP I-NP +Acquisition NNP I-NP +Corp. NNP I-NP +that WDT B-NP +was VBD B-VP +still RB I-VP +being VBG I-VP +negotiated VBN I-VP +late JJ B-NP +last JJ I-NP +night NN I-NP +. . O + +The DT B-NP +issue NN I-NP +by IN B-PP +Chicago NNP B-NP +& CC I-NP +North NNP I-NP +Western NN I-NP +is VBZ B-VP +one CD B-NP +of IN B-PP +the DT B-NP +so-called JJ I-NP +good JJ I-NP +junk-bond NN I-NP +offerings NNS I-NP +on IN B-PP +the DT B-NP +new-issue JJ I-NP +calendar NN I-NP +. . O + +Some DT B-NP +analysts NNS I-NP +said VBD B-VP +the DT B-NP +restructuring NN I-NP +of IN B-PP +the DT B-NP +railroad NN I-NP +concern NN I-NP +'s POS B-NP +issue NN I-NP +shows VBZ B-VP +how WRB B-ADJP +tough JJ I-ADJP +it PRP B-NP +is VBZ B-VP +for IN B-SBAR +underwriters NNS B-NP +to TO B-VP +sell VB I-VP +even RB B-ADVP +the DT B-NP +junk NN I-NP +bonds NNS I-NP +of IN B-PP +a DT B-NP +company NN I-NP +considered VBN B-VP +to TO I-VP +be VB I-VP +a DT B-NP +relatively RB I-NP +good JJ I-NP +credit NN I-NP +risk NN I-NP +. . O + +Since IN B-PP +last JJ B-NP +week NN I-NP +'s POS B-NP +junk-bond NN I-NP +market NN I-NP +debacle NN I-NP +, , O +many JJ B-NP +new JJ I-NP +issues NNS I-NP +of IN B-PP +high-yield JJ B-NP +, , I-NP +high-risk JJ I-NP +corporate JJ I-NP +bonds NNS I-NP +have VBP B-VP +either DT I-VP +been VBN I-VP +scaled VBN I-VP +back RB B-PRT +, , O +delayed VBN B-VP +or CC O +dropped VBD B-VP +. . O + +On IN B-PP +Wednesday NNP B-NP +, , O +Drexel NNP B-NP +Burnham NNP I-NP +Lambert NNP I-NP +Inc. NNP I-NP +had VBD B-VP +to TO I-VP +slash VB I-VP +the DT B-NP +size NN I-NP +of IN B-PP +Continental NNP B-NP +Airlines NNPS I-NP +' POS B-NP +junk-bond NN I-NP +offering NN I-NP +to TO B-PP +$ $ B-NP +71 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +150 CD I-NP +million CD I-NP +. . O + +Salomon NNP B-NP +Brothers NNP I-NP +Inc. NNP I-NP +has VBZ B-VP +delayed VBN I-VP +Grand NNP B-NP +Union NNP I-NP +Co. NNP I-NP +'s POS B-NP +$ $ B-ADJP +1.16 CD O +billion CD O +junk-bond NN B-NP +offering NN I-NP +while IN B-SBAR +it PRP B-NP +restructures VBZ B-VP +the DT B-NP +transaction NN I-NP +. . O + +Last JJ B-NP +week NN I-NP +, , O +the DT B-NP +Grand NNP I-NP +Union NNP I-NP +offering NN I-NP +was VBD B-VP +sweetened VBN I-VP +to TO B-VP +include VB I-VP +warrants NNS B-NP +that WDT B-NP +allow VBP B-VP +bondholders NNS B-NP +to TO B-VP +acquire VB I-VP +common JJ B-NP +stock NN I-NP +. . O + +Prudential-Bache NNP B-NP +said VBD B-VP +the DT B-NP +York NNP I-NP +issue NN I-NP +was VBD B-VP +delayed VBN I-VP +because IN B-PP +of IN I-PP +market NN B-NP +conditions NNS I-NP +. . O + +`` `` O +Everything NN B-NP +is VBZ B-VP +going VBG I-VP +through IN B-PP +firehoops NNS B-NP +right RB B-ADVP +now RB I-ADVP +, , O +and CC O +-LCB- ( O +Chicago NNP B-NP +& CC I-NP +North NNP I-NP +Western JJ I-NP +-RCB- ) O +is VBZ B-VP +no DT B-NP +exception NN I-NP +, , O +'' '' O +said VBD B-VP +Mariel NNP B-NP +Clemensen NNP I-NP +, , O +vice NN B-NP +president NN I-NP +, , O +high-yield JJ B-NP +research NN I-NP +, , O +at IN B-PP +Citicorp NNP B-NP +. . O + +Portfolio NN B-NP +managers NNS I-NP +say VBP B-VP +sweeteners NNS B-NP +like IN B-PP +equity NN B-NP +kickers NNS I-NP +and CC O +stricter JJR B-NP +protective JJ I-NP +covenants NNS I-NP +may MD B-VP +increasingly RB I-VP +be VB I-VP +required VBN I-VP +to TO B-VP +sell VB I-VP +junk-bond NN B-NP +deals NNS I-NP +. . O + +Dan NNP B-NP +Baldwin NNP I-NP +, , O +managing VBG B-NP +director NN I-NP +of IN B-PP +high-yield JJ B-NP +investments NNS I-NP +at IN B-PP +Chancellor NNP B-NP +Capital NNP I-NP +Management NNP I-NP +, , O +said VBD B-VP +the DT B-NP +Chicago NNP I-NP +& CC I-NP +North NNP I-NP +Western JJ I-NP +offering NN I-NP +was VBD B-VP +restructured VBN I-VP +in IN B-PP +part NN B-NP +because IN B-SBAR +`` `` O +several JJ B-NP +large JJ I-NP +insurance NN I-NP +buyers NNS I-NP +right RB B-ADVP +now RB I-ADVP +are VBP B-VP +demanding VBG I-VP +equity NN B-NP +as IN B-PP +part NN B-NP +of IN B-PP +the DT B-NP +package NN I-NP +. . O + +If IN B-SBAR +you PRP B-NP +'re VBP B-VP +going VBG I-VP +to TO I-VP +take VB I-VP +the DT B-NP +risk NN I-NP +in IN B-PP +this DT B-NP +market NN I-NP +, , O +you PRP B-NP +want VBP B-VP +something NN B-NP +extra JJ B-ADJP +. . O +'' '' O + +Mr. NNP B-NP +Baldwin NNP I-NP +likes VBZ B-VP +the DT B-NP +offering NN I-NP +. . O + +But CC O +several JJ B-NP +mutual-fund JJ I-NP +managers NNS I-NP +, , O +nervous JJ B-ADJP +about IN B-PP +the DT B-NP +deteriorating VBG I-NP +quality NN I-NP +of IN B-PP +their PRP$ B-NP +junk-bond NN I-NP +portfolios NNS I-NP +and CC O +shy JJ B-ADJP +about IN B-PP +buying VBG B-VP +new JJ B-NP +issues NNS I-NP +, , O +said VBD B-VP +they PRP B-NP +'re VBP B-VP +staying VBG I-VP +away RB B-ADVP +from IN B-PP +any DT B-NP +junk NN I-NP +security NN I-NP +that WDT B-NP +is VBZ B-VP +n't RB I-VP +considered VBN I-VP +first JJ B-ADJP +rate NN I-ADJP +for IN B-PP +its PRP$ B-NP +class NN I-NP +. . O + +While IN B-SBAR +they PRP B-NP +consider VBP B-VP +the DT B-NP +Chicago NNP I-NP +& CC I-NP +North NNP I-NP +Western JJ I-NP +issue NN I-NP +to TO B-VP +be VB I-VP +good JJ B-ADJP +, , O +they PRP B-NP +do VBP B-VP +n't RB I-VP +view VB I-VP +it PRP B-NP +as IN B-PP +the DT B-NP +best JJS I-NP +. . O + +To TO B-VP +lure VB I-VP +buyers NNS B-NP +to TO B-PP +the DT B-NP +Chicago NNP I-NP +& CC I-NP +North NNP I-NP +Western JJ I-NP +bonds NNS I-NP +, , O +portfolio NN B-NP +managers NNS I-NP +said VBD B-VP +Donaldson NNP B-NP +Lufkin NNP I-NP +sweetened VBD B-VP +the DT B-NP +transaction NN I-NP +by IN B-PP +offering VBG B-VP +the DT B-NP +bonds NNS I-NP +with IN B-PP +a DT B-NP +resettable JJ I-NP +interest NN I-NP +rate NN I-NP +and CC O +a DT B-NP +10 CD I-NP +% NN I-NP +equity NN I-NP +kicker NN I-NP +. . O + +The DT B-NP +bonds NNS I-NP +are VBP B-VP +expected VBN I-VP +to TO I-VP +have VB I-VP +a DT B-NP +14 CD I-NP +1\/2 CD I-NP +% NN I-NP +coupon NN I-NP +rate NN I-NP +. . O + +The DT B-NP +equity NN I-NP +arrangement NN I-NP +apparently RB B-ADVP +would MD B-VP +allow VB I-VP +bondholders NNS B-NP +to TO B-VP +buy VB I-VP +a DT B-NP +total NN I-NP +of IN B-PP +10 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +stock NN I-NP +of IN B-PP +CNW NNP B-NP +Corp. NNP I-NP +, , O +Chicago NNP B-NP +& CC I-NP +North NNP I-NP +Western NN I-NP +'s POS B-NP +parent NN I-NP +company NN I-NP +. . O + +Donaldson NNP B-NP +Lufkin NNP I-NP +declined VBD B-VP +to TO I-VP +comment VB I-VP +on IN B-PP +the DT B-NP +restructuring NN I-NP +. . O + +According VBG B-PP +to TO B-PP +some DT B-NP +analysts NNS I-NP +familiar JJ B-ADJP +with IN B-PP +the DT B-NP +negotiations NNS I-NP +, , O +the DT B-NP +10 CD I-NP +% NN I-NP +of IN B-PP +equity NN B-NP +would MD B-VP +come VB I-VP +directly RB B-ADVP +from IN B-PP +Donaldson NNP B-NP +Lufkin NNP I-NP +and CC O +a DT B-NP +fund NN I-NP +affiliated VBN B-VP +with IN B-PP +the DT B-NP +investment NN I-NP +bank NN I-NP +Blackstone NNP I-NP +Group NNP I-NP +, , O +which WDT B-NP +would MD B-VP +reduce VB I-VP +their PRP$ B-NP +CNW NNP I-NP +equity NN I-NP +holdings NNS I-NP +by IN B-PP +5 NN B-NP +% NN I-NP +each DT B-NP +. . O + +That DT B-NP +would MD B-VP +leave VB I-VP +the DT B-NP +Blackstone NNP I-NP +fund NN I-NP +with IN B-PP +a DT B-NP +60 CD I-NP +% NN I-NP +stake NN I-NP +and CC O +Donaldson NNP B-NP +Lufkin NNP I-NP +with IN B-PP +15 CD B-NP +% NN I-NP +. . O + +Despite IN B-PP +the DT B-NP +problems NNS I-NP +with IN B-PP +new JJ B-NP +issues NNS I-NP +, , O +high-yield JJ B-NP +bonds NNS I-NP +showed VBD B-VP +gains NNS B-NP +in IN B-PP +the DT B-NP +secondary JJ I-NP +, , I-NP +or CC I-NP +resell VB I-NP +, , I-NP +market NN I-NP +. . O + +Junk NN B-NP +bonds NNS I-NP +ended VBD B-VP +about IN B-NP +one-half NN I-NP +point NN I-NP +higher JJR B-ADVP +with IN B-PP +so-called JJ B-NP +high-quality JJ I-NP +issues NNS I-NP +from IN B-PP +RJR NNP B-NP +Capital NNP I-NP +Holdings NNP I-NP +Corp. NNP I-NP +and CC O +Petrolane NNP B-NP +Gas NNP I-NP +Service NNP I-NP +Limited NNP I-NP +Partnership NNP I-NP +rising VBG B-VP +one CD B-NP +point NN I-NP +. . O + +In IN B-PP +the DT B-NP +Treasury NNP I-NP +market NN I-NP +, , O +the DT B-NP +benchmark NN I-NP +30-year JJ I-NP +bond NN I-NP +rose VBD B-VP +seven-eighths NNS B-NP +point VBP I-NP +, , O +or CC O +$ $ B-NP +8.75 CD I-NP +for IN B-PP +each DT B-NP +$ $ I-NP +1,000 CD I-NP +face NN I-NP +amount NN I-NP +. . O + +The DT B-NP +gain NN I-NP +reflects VBZ B-VP +fresh JJ B-NP +economic JJ I-NP +evidence NN I-NP +that DT O +inflation NN B-NP +is VBZ B-VP +moderating VBG I-VP +while IN B-SBAR +the DT B-NP +economy NN I-NP +slows NNS B-VP +. . O + +That DT B-NP +raised VBN B-VP +hopes VBZ B-NP +that IN B-SBAR +interest NN B-NP +rates NNS I-NP +will MD B-VP +continue VB I-VP +to TO I-VP +move VB I-VP +lower JJR B-ADVP +. . O + +The DT B-NP +Labor NNP I-NP +Department NNP I-NP +reported VBD B-VP +that IN B-SBAR +consumer NN B-NP +prices NNS I-NP +rose VBD B-VP +just RB B-NP +0.2 CD I-NP +% NN I-NP +last JJ B-NP +month NN I-NP +, , O +slightly RB B-ADVP +lower JJR I-ADVP +than IN B-SBAR +some DT B-NP +economists NNS I-NP +had VBD B-VP +expected VBN I-VP +. . O + +But CC O +there EX B-NP +were VBD B-VP +also RB B-ADVP +rumors VBZ B-NP +yesterday NN B-NP +that IN B-SBAR +several JJ B-NP +Japanese JJ I-NP +institutional JJ I-NP +investors NNS I-NP +were VBD B-VP +shifting VBG I-VP +their PRP$ B-NP +portfolios NNS I-NP +and CC O +buying VBG B-VP +long-term JJ B-NP +bonds NNS I-NP +while IN B-SBAR +selling VBG B-VP +shorter-term JJ B-NP +Treasurys NNPS I-NP +. . O + +Short-term NNP B-NP +Treasury NNP I-NP +securities NNS I-NP +ended VBD B-VP +narrowly RB B-ADJP +mixed VBN I-ADJP +, , O +with IN B-PP +two-year JJ B-NP +notes NNS I-NP +posting VBG B-VP +slight JJ B-NP +declines NNS I-NP +while IN B-SBAR +three-year JJ B-NP +notes NNS I-NP +were VBD B-VP +slightly RB B-ADJP +higher JJR I-ADJP +. . O + +Yesterday NN B-NP +, , O +the DT B-NP +Fed NNP I-NP +executed VBD B-VP +four-day JJ B-NP +matched VBN I-NP +sales NNS I-NP +, , O +a DT B-NP +technical JJ I-NP +trading NN I-NP +operation NN I-NP +designed VBN B-VP +to TO I-VP +drain VB I-VP +reserves NNS B-NP +from IN B-PP +the DT B-NP +banking NN I-NP +system NN I-NP +. . O + +The DT B-NP +move NN I-NP +was VBD B-VP +interpreted VBN I-VP +by IN B-PP +some DT B-NP +economists NNS I-NP +as IN B-PP +a DT B-NP +sign NN I-NP +that IN B-SBAR +the DT B-NP +Fed NNP I-NP +does VBZ B-VP +n't RB I-VP +want VB I-VP +the DT B-NP +federal JJ I-NP +funds NNS I-NP +rate NN I-NP +to TO B-VP +move VB I-VP +any DT B-ADVP +lower JJR I-ADVP +than IN B-PP +the DT B-NP +8 CD I-NP +3\/4 CD I-NP +% NN I-NP +at IN B-PP +which WDT B-NP +it PRP B-NP +has VBZ B-VP +been VBN I-VP +hovering VBG I-VP +around IN B-PP +during IN B-PP +the DT B-NP +past JJ I-NP +week NN I-NP +. . O + +The DT B-NP +closely RB I-NP +watched VBN I-NP +funds NNS I-NP +rate NN I-NP +is VBZ B-VP +what WP B-NP +banks VBZ B-NP +charge VBP B-VP +each DT B-NP +other NN I-NP +on IN B-PP +overnight JJ B-NP +loans NNS I-NP +. . O + +It PRP B-NP +is VBZ B-VP +considered VBN I-VP +an DT B-NP +early JJ I-NP +signal NN I-NP +of IN B-PP +Fed NNP B-NP +credit NN I-NP +policy NN I-NP +changes NNS I-NP +. . O + +`` `` O +The DT B-NP +fact NN I-NP +that IN B-SBAR +they PRP B-NP +did VBD B-VP +four-day JJ B-NP +matched VBN I-NP +sales NNS I-NP +means VBZ B-VP +they PRP B-NP +are VBP B-VP +not RB O +in IN B-PP +a DT B-NP +mood NN I-NP +to TO B-VP +ease VB I-VP +aggressively RB B-ADVP +. . O + +They PRP B-NP +are VBP B-VP +telling VBG I-VP +us PRP B-NP +that IN B-SBAR +-LCB- ( O +8 CD B-NP +3\/4 CD I-NP +% NN I-NP +-RCB- ) O +is VBZ B-VP +as RB B-ADVP +low JJ I-ADVP +as IN B-SBAR +they PRP B-NP +want VBP B-VP +to TO I-VP +see VB I-VP +the DT B-NP +fed VBN I-NP +funds NNS I-NP +rate NN I-NP +, , O +'' '' O +said VBD B-VP +Robert NNP B-NP +Chandross NNP I-NP +at IN B-PP +Lloyds NNP B-NP +Bank NNP I-NP +PLC NNP I-NP +. . O + +Treasury NNP B-NP +Securities NNPS I-NP + +The DT B-NP +benchmark NN I-NP +30-year JJ I-NP +bond NN I-NP +was VBD B-VP +quoted VBN I-VP +late RB B-ADVP +at IN B-PP +a DT B-NP +price NN I-NP +of IN B-PP +101 CD B-NP +25\/32 CD I-NP +to TO B-VP +yield VB I-VP +7.955 CD B-NP +% NN I-NP +, , O +compared VBN B-PP +with IN B-PP +100 CD B-NP +29\/32 CD I-NP +to TO B-VP +yield VB I-VP +8.032 CD B-NP +% NN I-NP +Wednesday NNP B-NP +. . O + +The DT B-NP +latest JJS I-NP +10-year JJ I-NP +notes NNS I-NP +were VBD B-VP +quoted VBN I-VP +late RB B-ADVP +at IN B-PP +100 CD B-NP +9\/32 CD I-NP +to TO B-VP +yield VB I-VP +7.937 CD B-NP +% NN I-NP +, , O +compared VBN B-PP +with IN B-PP +99 CD B-NP +26\/32 CD I-NP +to TO B-VP +yield VB I-VP +8.007 CD B-NP +% NN I-NP +. . O + +Short-term JJ B-NP +rates NNS I-NP +rose VBD B-VP +yesterday NN B-NP +. . O + +The DT B-NP +discount NN I-NP +rate NN I-NP +on IN B-PP +three-month JJ B-NP +Treasury NNP I-NP +bills NNS I-NP +rose VBD B-VP +to TO B-PP +7.56 CD B-NP +% NN I-NP +from IN B-PP +7.51 CD B-NP +% NN I-NP +Wednesday NNP B-NP +, , O +while IN B-SBAR +the DT B-NP +rate NN I-NP +on IN B-PP +six-month JJ B-NP +bills NNS I-NP +rose VBD B-VP +to TO B-PP +7.57 CD B-NP +% NN I-NP +from IN B-PP +7.53 CD B-NP +% NN I-NP +. . O + +Meanwhile RB B-ADVP +, , O +the DT B-NP +Treasury NNP I-NP +sold VBD B-VP +$ $ B-NP +9.75 CD I-NP +billion CD I-NP +of IN B-PP +52-week JJ B-NP +bills NNS I-NP +yesterday NN B-NP +. . O + +The DT B-NP +average JJ I-NP +yield NN I-NP +on IN B-PP +the DT B-NP +bills NNS I-NP +was VBD B-VP +7.35 CD B-NP +% NN I-NP +, , O +down RB B-ADVP +from IN B-PP +7.61 CD B-NP +% NN I-NP +at IN B-PP +the DT B-NP +previous JJ I-NP +52-week JJ I-NP +bill NN I-NP +auction NN I-NP +Sept. NNP B-NP +21 CD I-NP +. . O + +Yesterday NN B-NP +'s POS B-NP +yield NN I-NP +was VBD B-VP +the DT B-NP +lowest JJS I-NP +since IN B-PP +7.22 CD B-NP +% NN I-NP +on IN B-PP +July NNP B-NP +27 CD I-NP +. . O + +Here RB B-ADVP +are VBP B-VP +details NNS B-NP +of IN B-PP +the DT B-NP +auction NN I-NP +: : O + +Rates NNS B-NP +are VBP B-VP +determined VBN I-VP +by IN B-PP +the DT B-NP +difference NN I-NP +between IN B-PP +the DT B-NP +purchase NN I-NP +price NN I-NP +and CC I-NP +face NN I-NP +value NN I-NP +. . O + +Thus RB B-ADVP +, , O +higher JJR B-NP +bidding NN I-NP +narrows VBZ B-VP +the DT B-NP +investor NN I-NP +'s POS B-NP +return NN I-NP +while IN B-SBAR +lower JJR B-NP +bidding NN I-NP +widens VBZ B-VP +it PRP B-NP +. . O + +The DT B-NP +percentage NN I-NP +rates NNS I-NP +are VBP B-VP +calculated VBN I-VP +on IN B-PP +a DT B-NP +360-day JJ I-NP +year NN I-NP +, , O +while IN B-SBAR +the DT B-NP +coupon-equivalent JJ I-NP +yield NN I-NP +is VBZ B-VP +based VBN I-VP +on IN B-PP +a DT B-NP +365-day JJ I-NP +year NN I-NP +. . O + +Corporate JJ B-NP +Issues NNS I-NP + +Junk NN B-NP +bond NN I-NP +price NN I-NP +climbed VBD B-VP +yesterday NN B-NP +despite IN B-PP +skittishness NN B-NP +in IN B-PP +the DT B-NP +new-issue JJ I-NP +market NN I-NP +for IN B-PP +high-yield JJ B-NP +securities NNS I-NP +. . O + +Dealers NNS B-NP +said VBD B-VP +junk NN B-NP +bond NN I-NP +issues NNS I-NP +on IN B-PP +average NN B-NP +were VBD B-VP +up IN B-ADVP +by IN B-PP +1\/4 CD B-NP +to TO I-NP +1\/2 CD I-NP +point NN I-NP +with IN B-PP +so-called JJ B-NP +quality NN I-NP +issues NNS I-NP +from IN B-PP +RJR NNP B-NP +Capital NNP I-NP +Holdings NNP I-NP +Corp. NNP I-NP +and CC O +Petrolane NNP B-NP +Gas NNP I-NP +Service NNP I-NP +Limited NNP I-NP +Partnership NNP I-NP +posting VBG B-VP +one-point JJ B-NP +gains NNS I-NP +. . O + +Petrolane NNP B-NP +Gas NNP I-NP +Service NNP I-NP +'s POS B-NP +13 CD B-ADJP +1\/4 CD I-ADJP +% NN I-ADJP +debentures NNS B-NP +traded VBN B-VP +at IN B-PP +102 CD B-NP +, , O +after IN B-PP +trading NN B-VP +around IN B-PP +par NN B-NP +earlier RBR B-NP +this DT I-NP +week NN I-NP +, , O +and CC O +RJR NNP B-NP +'s POS B-NP +13 CD B-ADJP +1\/2 CD I-ADJP +% NN I-ADJP +subordinated VBD B-NP +debentures NNS I-NP +of IN B-PP +2001 CD B-NP +were VBD B-VP +at IN B-PP +101 CD B-NP +5\/8 CD I-NP +after IN B-PP +trading NN B-VP +at IN B-PP +below IN B-PP +par NN B-NP +earlier RBR B-NP +this DT I-NP +week NN I-NP +. . O + +Investment-grade JJ B-NP +bonds NNS I-NP +were VBD B-VP +unchanged JJ B-ADJP +. . O + +Municipals NNS B-NP + +Activity NN B-NP +was VBD B-VP +brisk JJ B-ADJP +in IN B-PP +the DT B-NP +high-grade JJ I-NP +general JJ I-NP +obligation NN I-NP +market NN I-NP +, , O +as IN B-SBAR +a DT B-NP +series NN I-NP +of IN B-PP +sell NN B-NP +lists NNS I-NP +hit VBD B-VP +the DT B-NP +Street NNP I-NP +and CC O +capped VBD B-VP +upward JJ B-NP +price NN I-NP +movement NN I-NP +in IN B-PP +the DT B-NP +sector NN I-NP +. . O + +Traders NNS B-NP +estimated VBN B-VP +that IN B-SBAR +more JJR B-NP +than IN I-NP +$ $ I-NP +140 CD I-NP +million CD I-NP +of IN B-PP +high-grade JJ B-NP +bonds NNS I-NP +was VBD B-VP +put VBN I-VP +up IN B-PRT +for IN B-PP +sale NN B-NP +via IN B-PP +bid-wanted JJ B-NP +lists NNS I-NP +circulated VBN B-VP +by IN B-PP +a DT B-NP +handful NN I-NP +of IN B-PP +major JJ B-NP +brokers NNS I-NP +. . O + +There EX B-NP +was VBD B-VP +speculation NN B-NP +that IN B-SBAR +the DT B-NP +supply NN I-NP +was VBD B-VP +coming VBG I-VP +from IN B-PP +a DT B-NP +commercial JJ I-NP +bank NN I-NP +'s POS B-NP +portfolios NNS I-NP +. . O + +According VBG B-PP +to TO B-PP +market VB B-NP +participants NNS I-NP +, , O +the DT B-NP +bonds NNS I-NP +were VBD B-VP +met VBN I-VP +with IN B-PP +decent JJ B-NP +bids NNS I-NP +, , O +but CC O +the DT B-NP +volume NN I-NP +of IN B-PP +paper NN B-NP +left VBD B-VP +high JJ B-NP +grades NNS I-NP +in IN B-PP +the DT B-NP +10-year JJ I-NP +and CC I-NP +under IN I-NP +maturity NN I-NP +range NN I-NP +unchanged JJ B-ADJP +to TO B-ADVP +0.05 CD B-ADVP +percentage NN I-ADVP +point NN I-ADVP +higher JJR I-ADVP +in IN B-PP +yield NN B-NP +. . O + +Away RB B-ADVP +from IN B-PP +the DT B-NP +general JJ I-NP +obligation NN I-NP +sector NN I-NP +, , O +activity NN B-NP +was VBD B-VP +modest JJ B-ADJP +. . O + +Long JJ B-NP +dollar NN I-NP +bonds NNS I-NP +were VBD B-VP +flat JJ B-ADJP +to TO O +up IN B-ADVP +3\/8 CD B-NP +point NN I-NP +. . O + +New NNP B-NP +Jersey NNP I-NP +Turnpike NNP I-NP +Authority NNP I-NP +'s POS B-NP +7.20 CD B-ADJP +% NN I-ADJP +issue NN B-NP +of IN B-PP +2018 CD B-NP +was VBD B-VP +up IN B-ADVP +3\/8 CD B-NP +at IN B-PP +98 CD B-NP +3\/8 CD I-NP +bid NN B-VP +to TO B-VP +yield VB I-VP +about IN B-NP +7.32 CD I-NP +% NN I-NP +, , O +down RB B-ADVP +0.03 CD B-NP +percentage NN I-NP +point NN I-NP +. . O + +The DT B-NP +debt NN I-NP +of IN B-PP +some DT B-NP +California NNP I-NP +issuers NNS I-NP +pulled VBD B-VP +off IN B-PP +lows NNS B-NP +reached VBN B-VP +after IN B-PP +Tuesday NNP B-NP +'s POS B-NP +massive JJ I-NP +earthquake NN I-NP +, , O +although IN B-SBAR +traders NNS B-NP +said VBD B-VP +market NN B-NP +participants NNS I-NP +remained VBD B-VP +cautious JJ B-ADJP +. . O + +California NNP B-NP +expects VBZ B-VP +to TO I-VP +rely VB I-VP +on IN B-PP +federal JJ B-NP +emergency NN I-NP +funds NNS I-NP +and CC O +its PRP$ B-NP +$ $ I-NP +1.06 CD I-NP +billion CD I-NP +in IN B-PP +general JJ B-NP +fund NN I-NP +reserves NNS I-NP +to TO B-VP +meet VB I-VP +the DT B-NP +estimated VBN I-NP +$ $ I-NP +500 CD I-NP +million CD I-NP +to TO I-NP +$ $ I-NP +1 CD I-NP +billion CD I-NP +in IN B-PP +damages NNS B-NP +resulting VBG B-VP +from IN B-PP +the DT B-NP +quake NN I-NP +, , O +according VBG B-PP +to TO B-PP +a DT B-NP +state NN I-NP +official NN I-NP +. . O + +It PRP B-NP +'s VBZ B-VP +also RB B-ADVP +unclear JJ B-ADJP +precisely RB B-ADVP +how WRB I-ADVP +the DT B-NP +state NN I-NP +will MD B-VP +rebuild VB I-VP +its PRP$ B-NP +reserve NN I-NP +, , O +said VBD B-VP +Cindy NNP B-NP +Katz NNP I-NP +, , O +assistant NN B-NP +director NN I-NP +of IN B-PP +California NNP B-NP +'s POS B-NP +department NN I-NP +of IN B-PP +finance NN B-NP +, , O +although IN B-SBAR +she PRP B-NP +noted VBD B-VP +that IN B-SBAR +a DT B-NP +bond NN I-NP +offering NN I-NP +for IN B-PP +that DT B-NP +purpose NN I-NP +is VBZ B-VP +n't RB I-VP +anticipated VBN I-VP +. . O + +Meanwhile RB B-ADVP +, , O +new JJ B-NP +issuance NN I-NP +was VBD B-VP +slow JJ B-ADJP +. . O + +The DT B-NP +largest JJS I-NP +sale NN I-NP +in IN B-PP +the DT B-NP +competitive JJ I-NP +arena NN I-NP +was VBD B-VP +a DT B-NP +$ $ I-NP +55.7 CD I-NP +million CD I-NP +issue NN I-NP +of IN B-PP +school NN B-NP +financing NN I-NP +bonds NNS I-NP +from IN B-PP +the DT B-NP +Virginia NNP I-NP +Public NNP I-NP +School NNP I-NP +Authority NNP I-NP +. . O + +A DT B-NP +balance NN I-NP +of IN B-PP +$ $ B-NP +25.8 CD I-NP +million CD I-NP +remained VBD B-VP +in IN B-PP +late JJ B-NP +order-taking NN I-NP +, , O +according VBG B-PP +to TO B-PP +the DT B-NP +lead NN I-NP +manager NN I-NP +. . O + +Mortgage-Backed JJ B-NP +Securities NNPS I-NP + +Mortgage NN B-NP +securities NNS I-NP +generally RB B-ADVP +ended VBD B-VP +6\/32 CD B-NP +to TO I-NP +9\/32 CD I-NP +point NN I-NP +higher JJR B-ADVP +, , O +but CC O +lagged VBD B-VP +gains NNS B-NP +in IN B-PP +the DT B-NP +Treasury NNP I-NP +market NN I-NP +because IN B-PP +of IN I-PP +a DT B-NP +shift NN I-NP +in IN B-PP +the DT B-NP +shape NN I-NP +of IN B-PP +the DT B-NP +Treasury NNP I-NP +yield NN I-NP +curve NN I-NP +and CC O +rumored VBN B-NP +mortgage NN I-NP +sales NNS I-NP +by IN B-PP +thrifts NNS B-NP +. . O + +Premium NNP B-NP +Government NNP I-NP +National NNP I-NP +Mortgage NNP I-NP +Association NNP I-NP +securities NNS I-NP +with IN B-PP +coupon NN B-NP +rates NNS I-NP +of IN B-PP +13 CD B-NP +% NN I-NP +and CC O +higher JJR B-NP +actually RB B-ADVP +declined VBD B-VP +amid IN B-PP +concerns NNS B-NP +about IN B-PP +increased VBN B-NP +prepayments NNS I-NP +because IN B-PP +of IN I-PP +a DT B-NP +plan NN I-NP +being VBG B-VP +considered VBN I-VP +by IN B-PP +Congress NNP B-NP +to TO B-VP +speed VB I-VP +the DT B-NP +refinancing NN I-NP +of IN B-PP +government-subsidized JJ B-NP +mortgages NNS I-NP +. . O + +Ginnie NNP B-NP +Mae NNP I-NP +13 CD I-NP +% NN I-NP +securities NNS I-NP +were VBD B-VP +down RB B-ADVP +about IN B-NP +1\/4 CD I-NP +at IN B-PP +109 CD B-NP +30\/32 CD I-NP +. . O + +If IN B-SBAR +the DT B-NP +refinancing NN I-NP +plan NN I-NP +clears VBZ B-VP +Congress NNP B-NP +, , O +there EX B-NP +could MD B-VP +be VB I-VP +fairly RB B-NP +heavy JJ I-NP +prepayments NNS I-NP +on IN B-PP +the DT B-NP +premium NN I-NP +securities NNS I-NP +, , O +hurting VBG B-VP +any DT B-NP +investor NN I-NP +paying VBG B-VP +much JJ B-ADVP +above IN I-ADVP +par NN B-NP +for IN B-PP +them PRP B-NP +. . O + +In IN B-PP +the DT B-NP +current-coupon JJ I-NP +sector NN I-NP +, , O +a DT B-NP +shift NN I-NP +in IN B-PP +the DT B-NP +Treasury NNP I-NP +yield NN I-NP +curve NN I-NP +resulting VBG B-VP +from IN B-PP +the DT B-NP +better JJR I-NP +performance NN I-NP +of IN B-PP +long-dated JJ B-NP +issues NNS I-NP +over IN B-PP +short-dated JJ B-NP +securities NNS I-NP +hurt VBD B-VP +major JJ B-NP +coupons NNS I-NP +because IN B-SBAR +it PRP B-NP +will MD B-VP +become VB I-VP +more RBR B-ADJP +difficult JJ I-ADJP +to TO B-VP +structure VB I-VP +new JJ B-NP +derivative JJ I-NP +securities NNS I-NP +offerings NNS I-NP +. . O + +Ginnie NNP B-NP +Mae NNP I-NP +9 CD I-NP +% NN I-NP +securities NNS I-NP +ended VBD B-VP +at IN B-PP +98 CD B-NP +6\/32 CD I-NP +, , O +up IN B-ADVP +9\/32 CD B-NP +, , O +and CC O +Federal NNP B-NP +Home NNP I-NP +Loan NNP I-NP +Mortgage NNP I-NP +Corp. NNP I-NP +9 CD I-NP +% NN I-NP +securities NNS I-NP +were VBD B-VP +at IN B-PP +97 CD B-NP +10\/32 CD I-NP +, , O +up IN B-ADVP +6\/32 CD B-NP +. . O + +The DT B-NP +Ginnie NNP I-NP +Mae NNP I-NP +9 CD I-NP +% NN I-NP +issue NN I-NP +was VBD B-VP +yielding VBG I-VP +9.42 CD B-NP +% NN I-NP +to TO B-PP +a DT B-NP +12-year JJ I-NP +average JJ I-NP +life NN I-NP +assumption NN I-NP +, , O +as IN B-SBAR +the DT B-NP +spread NN I-NP +above IN B-PP +the DT B-NP +Treasury NNP I-NP +10-year JJ I-NP +note NN I-NP +widened VBD B-VP +0.03 CD B-NP +percentage NN I-NP +point NN I-NP +to TO B-PP +1.48 CD B-NP +. . O + +While IN B-SBAR +Remic NNP B-NP +issuance NN I-NP +may MD B-VP +slow VB I-VP +in IN B-PP +the DT B-NP +coming VBG I-NP +days NNS I-NP +because IN B-PP +of IN I-PP +the DT B-NP +shift NN I-NP +in IN B-PP +the DT B-NP +Treasury NNP I-NP +yield NN I-NP +curve NN I-NP +, , O +underwriters NNS B-NP +continued VBD B-VP +to TO I-VP +crank VB I-VP +out IN B-PRT +new JJ B-NP +real JJ I-NP +estate NN I-NP +mortgage NN I-NP +investment NN I-NP +conduits NNS I-NP +structured VBN B-VP +when WRB B-ADVP +the DT B-NP +yield NN I-NP +curve NN I-NP +was VBD B-VP +more RBR B-ADJP +favorable JJ I-ADJP +. . O + +Two CD B-NP +new JJ I-NP +Remics NNS I-NP +totaling VBG B-VP +$ $ B-NP +900 CD I-NP +million CD I-NP +were VBD B-VP +announced VBN I-VP +by IN B-PP +Freddie NNP B-NP +Mac NNP I-NP +yesterday NN B-NP +. . O + +Foreign JJ B-NP +Bonds NNS I-NP + +British JJ B-NP +government NN I-NP +bonds NNS I-NP +ended VBD B-VP +little RB B-ADJP +changed VBN I-ADJP +as IN B-SBAR +investors NNS B-NP +awaited VBD B-VP +an DT B-NP +economic JJ I-NP +policy NN I-NP +address NN I-NP +last JJ B-NP +night NN I-NP +by IN B-PP +Chancellor NNP O +of IN B-PP +the DT B-NP +Exchequer NNP I-NP +Nigel NNP B-NP +Lawson NNP I-NP +. . O + +The DT B-NP +Treasury NNP I-NP +11 CD I-NP +3\/4 CD I-NP +% NN I-NP +bond NN I-NP +due JJ B-ADJP +2003\/2007 CD B-NP +was VBD B-VP +down RB B-ADVP +2\/32 CD B-NP +at IN B-PP +111 CD B-NP +29\/32 CD I-NP +to TO B-VP +yield VB I-VP +10.09 CD B-NP +% NN I-NP +, , O +while IN B-SBAR +the DT B-NP +11 CD I-NP +3\/4 CD I-NP +% NN I-NP +notes NNS I-NP +due JJ B-ADJP +1991 CD B-NP +were VBD B-VP +unchanged JJ B-ADJP +at IN B-PP +98 CD B-NP +19\/32 CD I-NP +to TO B-VP +yield VB I-VP +12.94 CD B-NP +% NN I-NP +. . O + +In IN B-PP +Japan NNP B-NP +, , O +the DT B-NP +bellwether NN I-NP +No. NN I-NP +111 CD I-NP +4.6 CD I-NP +% NN I-NP +bond NN I-NP +of IN B-PP +1998 CD B-NP +ended VBD B-VP +off IN B-ADVP +0.03 CD B-NP +at IN B-PP +95.72 CD B-NP +, , O +to TO B-VP +yield VB I-VP +5.32 CD B-NP +% NN I-NP +, , O +and CC O +in IN B-PP +West NNP B-NP +Germany NNP I-NP +, , O +the DT B-NP +7 CD I-NP +% NN I-NP +benchmark NN I-NP +issue NN I-NP +due JJ B-ADJP +October NNP B-NP +1999 CD I-NP +ended VBD B-VP +0.05 CD B-NP +point NN I-NP +lower JJR B-ADVP +at IN B-PP +99.85 CD B-NP +to TO B-VP +yield VB I-VP +7.02 CD B-NP +% NN I-NP +. . O + +THE DT B-NP +PANHANDLER NN I-NP +approaches NNS B-VP +, , O +makes VBZ B-VP +his PRP$ B-NP +pitch NN I-NP +. . O + +It PRP B-NP +may MD B-VP +be VB I-VP +straightforward JJ B-ADJP +-- : O +he PRP B-NP +wants VBZ B-VP +money NN B-NP +for IN B-PP +food NN B-NP +-- : O +or CC O +incredibly RB B-ADJP +convoluted JJ I-ADJP +; : O +his PRP$ B-NP +sister NN I-NP +is VBZ B-VP +at IN B-PP +this DT B-NP +very JJ I-NP +moment NN I-NP +near IN B-PP +death NN B-NP +in IN B-PP +Hoboken NNP B-NP +, , O +he PRP B-NP +has VBZ B-VP +lost VBN I-VP +his PRP$ B-NP +wallet NN I-NP +and CC O +has VBZ B-VP +only RB B-NP +$ $ I-NP +1.22 CD I-NP +in IN B-PP +change NN B-NP +to TO B-VP +put VB I-VP +toward IN B-PP +a DT B-NP +bus NN I-NP +ticket NN I-NP +costing VBG B-VP +$ $ B-NP +3.83 CD I-NP +, , O +and CC O +wo MD O +n't RB O +you PRP B-NP +give VB B-VP +him PRP B-NP +the DT B-NP +difference NN I-NP +? . O + +No DT B-INTJ +? . O + +Well UH B-ADVP +, , O +how WRB B-ADVP +about IN B-PP +a DT B-NP +loan NN I-NP +, , O +he PRP B-NP +'ll MD B-VP +take VB I-VP +your PRP$ B-NP +name NN I-NP +and CC I-NP +address NN I-NP +... : O + +Figuring VBG B-VP +that IN O +their PRP$ B-NP +money NN I-NP +would MD B-VP +more RBR I-VP +likely JJ I-VP +go NN I-VP +toward IN B-PP +a DT B-NP +bottle NN I-NP +of IN B-PP +Night NNP B-NP +Train NNP I-NP +Express NNP I-NP +, , O +most RBS B-NP +people NNS I-NP +have VBP B-VP +little JJ B-NP +trouble NN I-NP +saying VBG B-VP +no DT B-INTJ +to TO B-PP +propositions NNS B-NP +like IN B-PP +this DT B-NP +. . O + +But CC O +healthy JJ B-NP +skepticism NN I-NP +vanishes VBZ B-VP +when WRB B-ADVP +they PRP B-NP +are VBP B-VP +solicited VBN I-VP +by IN B-PP +an DT B-NP +organized VBN I-NP +charity NN I-NP +to TO B-VP +help VB I-VP +fight VB I-VP +cancer NN B-NP +, , O +famine NN B-NP +, , O +child NN B-NP +abuse NN I-NP +, , O +or CC O +what WP B-NP +have VBP B-VP +you PRP B-NP +. . O + +Most JJS B-NP +see VB B-VP +little JJ B-NP +reason NN I-NP +to TO B-VP +doubt VB I-VP +that IN O +their PRP$ B-NP +cash NN I-NP +will MD B-VP +go VB I-VP +toward IN B-PP +these DT B-NP +noble JJ I-NP +goals NNS I-NP +. . O + +But CC O +will MD O +it PRP B-NP +? . O + +In IN B-PP +a DT B-NP +distressing JJ I-NP +number NN I-NP +of IN B-PP +cases NNS B-NP +, , O +no DT B-INTJ +. . O + +In IN B-PP +fact NN B-NP +, , O +the DT B-NP +donors NNS I-NP +sometimes RB B-ADVP +might MD B-VP +be VB I-VP +better JJR B-ADVP +off IN I-ADVP +giving VBG B-VP +the DT B-NP +money NN I-NP +to TO B-PP +the DT B-NP +panhandler NN I-NP +: : O +at IN B-ADVP +least JJS I-ADVP +he PRP B-NP +has VBZ B-VP +no DT B-NP +overhead NN I-NP +, , O +and CC O +he PRP B-NP +might MD B-VP +even RB I-VP +be VB I-VP +telling VBG I-VP +the DT B-NP +truth NN I-NP +. . O + +Last JJ B-NP +year NN I-NP +, , O +more JJR B-NP +than IN I-NP +$ $ I-NP +100 CD I-NP +billion CD I-NP +was VBD B-VP +donated VBN I-VP +to TO B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +400,000 CD I-NP +charities NNS I-NP +. . O + +While IN B-SBAR +the DT B-NP +vast JJ I-NP +bulk NN I-NP +of IN B-PP +it PRP B-NP +was VBD B-VP +indeed RB I-VP +spent VBN I-VP +by IN B-PP +reputable JJ B-NP +organizations NNS I-NP +on IN B-PP +the DT B-NP +good JJ I-NP +works NNS I-NP +it PRP B-NP +was VBD B-VP +raised VBN I-VP +for IN B-PP +, , O +it PRP B-NP +'s VBZ B-VP +equally RB B-ADJP +true JJ I-ADJP +that IN B-SBAR +a DT B-NP +sizable JJ I-NP +hunk NN I-NP +was VBD B-VP +consumed VBN I-VP +in IN B-PP +`` `` O +expenses NNS B-NP +'' '' O +claimed VBN B-VP +by IN B-PP +other JJ B-NP +operators NNS I-NP +, , O +including VBG B-PP +fraudulent JJ B-NP +expenses NNS I-NP +. . O + +In IN B-PP +many JJ B-NP +cases NNS I-NP +the DT B-NP +costs NNS I-NP +claimed VBD B-VP +were VBD B-VP +so RB B-ADJP +high JJ I-ADJP +that IN B-SBAR +only RB B-NP +a DT I-NP +dribble NN I-NP +of IN B-PP +cash NN B-NP +was VBD B-VP +left VBN I-VP +for IN B-PP +the DT B-NP +purported JJ I-NP +beneficiaries NNS I-NP +. . O + +It PRP B-NP +'s VBZ B-VP +impossible JJ B-ADJP +to TO B-VP +say VB I-VP +exactly RB B-ADVP +how WRB B-NP +much NN I-NP +of IN B-PP +the DT B-NP +total JJ I-NP +charity NN I-NP +intake NN I-NP +is VBZ B-VP +devoured VBN I-VP +by IN B-PP +stratospheric JJ B-NP +fund-raising NN I-NP +costs NNS I-NP +, , O +high-living JJ B-NP +operators NNS I-NP +, , O +and CC O +downright JJ B-NP +fraud NN I-NP +. . O + +But CC O +the DT B-NP +problem NN I-NP +clearly RB B-ADVP +is VBZ B-VP +widespread JJ B-ADJP +and CC I-ADJP +persistent JJ I-ADJP +. . O + +State NN B-NP +law NN I-NP +enforcers NNS I-NP +can MD B-VP +barely RB I-VP +keep VB I-VP +up IN B-PRT +with IN B-PP +charity NN B-NP +scams NNS I-NP +, , O +and CC O +reports NNS B-NP +from IN B-PP +watchdog NN B-NP +groups NNS I-NP +such JJ B-PP +as IN I-PP +the DT B-NP +Council NNP I-NP +of IN B-PP +Better NNP B-NP +Business NNP I-NP +Bureaus NNP I-NP +are VBP B-VP +not RB O +encouraging VBG B-ADJP +. . O + +The DT B-NP +Philanthropic NNP I-NP +Advisory NNP I-NP +Service NNP I-NP +of IN B-PP +the DT B-NP +BBB NNP I-NP +reviews NNS B-VP +hundreds NNS B-NP +of IN B-PP +new JJ B-NP +charities NNS I-NP +every DT B-NP +year NN I-NP +, , O +measuring VBG B-VP +them PRP B-NP +against IN B-PP +minimum JJ B-NP +standards NNS I-NP +for IN B-PP +accountability NN B-NP +; : O +for IN B-PP +accuracy NN B-NP +and CC I-NP +honesty NN I-NP +in IN B-PP +solicitation NN B-NP +; : B-PP +and CC I-PP +for IN B-PP +percentage NN B-NP +of IN B-PP +funds NNS B-NP +actually RB B-VP +going VBG I-VP +to TO B-PP +work VB B-NP +for IN B-PP +which WDT B-NP +the DT B-NP +charity NN I-NP +was VBD B-VP +supposedly RB I-VP +established VBN I-VP +. . O + +The DT B-NP +Service NNP I-NP +figures NNS B-VP +at IN B-NP +least JJS I-NP +half NN I-NP +of IN B-PP +the DT B-NP +money NN I-NP +taken VBN B-VP +in IN B-PRT +should MD B-VP +be VB I-VP +spent VBN I-VP +on IN B-PP +program NN B-NP +. . O + +Roughly RB B-NP +a DT I-NP +third JJ I-NP +of IN B-PP +the DT B-NP +charities NNS I-NP +reviewed VBN B-VP +flunk VBP B-VP +the DT B-NP +test NN I-NP +. . O + +Which WDT B-NP +, , O +it PRP B-NP +should MD B-VP +be VB I-VP +added VBN I-VP +, , O +does VBZ B-VP +n't RB I-VP +prevent VB I-VP +the DT B-NP +charities NNS I-NP +from IN B-PP +raking VBG B-VP +in IN B-PRT +a DT B-NP +lot NN I-NP +of IN B-PP +money NN B-NP +anyway RB B-ADVP +. . O + +Without IN B-PP +a DT B-NP +microscope NN I-NP +and CC O +a DT B-NP +subpoena NN I-NP +, , O +it PRP B-NP +'s VBZ B-VP +often RB B-ADVP +hard JJ B-ADJP +to TO B-VP +sort VB I-VP +out RP B-PRT +worthwhile JJ B-NP +causes NNS I-NP +from IN B-PP +ripoffs NNS B-NP +if IN B-SBAR +all DT B-NP +you PRP B-NP +'ve VBP B-VP +got VBD I-VP +to TO B-VP +go VB I-VP +on IN B-PP +is VBZ B-VP +the DT B-NP +solicitation NN I-NP +itself PRP B-NP +. . O + +On IN B-PP +this DT B-NP +basis NN I-NP +, , O +`` `` O +there EX B-NP +'s VBZ B-VP +no DT B-NP +way NN I-NP +the DT B-NP +average JJ I-NP +person NN I-NP +can MD B-VP +know VB I-VP +a DT B-NP +good JJ I-NP +charity NN I-NP +from IN B-PP +a DT B-NP +bad JJ I-NP +one CD I-NP +, , O +'' '' O +says VBZ B-VP +David NNP B-NP +Ormstedt NNP I-NP +, , O +an DT B-NP +assistant NN I-NP +attorney NN I-NP +general JJ I-NP +in IN B-PP +Connecticut NNP B-NP +. . O + +`` `` O +A DT B-NP +lot NN I-NP +of IN B-PP +donors NNS B-NP +just RB B-ADVP +get VBP B-VP +taken VBN I-VP +. . O +'' '' O + +Including VBG B-PP +those DT B-NP +, , O +he PRP B-NP +contends VBZ B-VP +, , O +who WP B-NP +put VBP B-VP +about RB B-NP +$ $ I-NP +1 CD I-NP +million CD I-NP +into IN B-PP +the DT B-NP +kitty NN I-NP +for IN B-PP +the DT B-NP +Connecticut NNP I-NP +Association NNP I-NP +of IN B-PP +Concerned NNP B-NP +Veterans NNP I-NP +and CC O +the DT B-NP +Vietnam NNP I-NP +Veterans NNP I-NP +Service NNP I-NP +Center NNP I-NP +. . O + +The DT B-NP +state NN I-NP +has VBZ B-VP +sued VBN I-VP +these DT B-NP +charities NNS I-NP +in IN B-PP +state NN B-NP +court NN I-NP +, , O +complaining VBG B-VP +that IN B-SBAR +much NN B-NP +of IN B-PP +the DT B-NP +money NN I-NP +was VBD B-VP +grossly RB I-VP +misspent VBN I-VP +; : O +82 CD B-NP +% NN I-NP +, , O +says VBZ B-VP +Mr. NNP B-NP +Ormstedt NNP I-NP +, , O +went VBD B-VP +to TO B-PP +fund VB B-NP +raisers NNS I-NP +and CC O +most RBS B-NP +of IN B-PP +the DT B-NP +rest NN I-NP +to TO B-PP +the DT B-NP +people NNS I-NP +who WP B-NP +ran VBD B-VP +the DT B-NP +charities NNS I-NP +and CC B-PP +to TO B-PP +their PRP$ B-NP +relatives NNS I-NP +-- : O +for IN B-PP +fur NN B-NP +coats NNS I-NP +, , O +trips NNS B-NP +to TO B-PP +Florida NNP B-NP +, , O +Lucullan JJ B-NP +restaurant NN I-NP +tabs NNS I-NP +. . O + +The DT B-NP +telephone NN I-NP +number NN I-NP +for IN B-PP +the DT B-NP +charity NN I-NP +in IN B-PP +Shelton NNP B-NP +, , O +Conn. NNP B-NP +, , O +has VBZ B-VP +been VBN I-VP +disconnected VBN I-VP +, , O +and CC O +the DT B-NP +former JJ I-NP +officials NNS I-NP +could MD B-VP +n't RB I-VP +be VB I-VP +located VBN I-VP +. . O + +Running VBG B-VP +a DT B-NP +charity NN I-NP +does VBZ B-VP +cost NN I-VP +money NN B-NP +, , O +but CC O +reputable JJ B-NP +organizations NNS I-NP +manage VBP B-VP +to TO I-VP +get VB I-VP +the DT B-NP +lion NN I-NP +'s POS B-NP +share NN I-NP +of IN B-PP +donations NNS B-NP +out IN B-PP +to TO B-PP +where WRB B-ADVP +they PRP B-NP +are VBP B-VP +really RB I-VP +needed VBN I-VP +. . O + +The DT B-NP +Arthritis NNP I-NP +Foundation NNP I-NP +, , O +the DT B-NP +American NNP I-NP +Cancer NNP I-NP +Society NNP I-NP +and CC O +the DT B-NP +United NNP I-NP +Way NN I-NP +of IN B-PP +America NNP B-NP +all DT B-NP +say NN B-VP +that IN B-SBAR +they PRP B-NP +spend VBP B-VP +roughly RB B-NP +90 CD I-NP +% NN I-NP +of IN B-PP +their PRP$ B-NP +income NN I-NP +on IN B-PP +programs NNS B-NP +, , B-NP +not RB I-NP +overhead JJ B-NP +. . O + +With IN B-PP +some DT B-NP +other JJ I-NP +charities NNS I-NP +, , O +however RB B-ADVP +, , O +it PRP B-NP +s PRP B-VP +the DT B-NP +other JJ I-NP +way NN I-NP +around RB B-PRT +. . O + +The DT O +fledgling NN O +National NNP O +Children NNS B-NP +'s POS B-NP +Cancer NNP I-NP +Society NNP I-NP +, , O +for IN B-PP +example NN B-NP +, , O +took VBD B-VP +in IN B-PRT +$ $ B-NP +2.5 CD I-NP +million CD I-NP +last JJ B-NP +year NN I-NP +to TO B-VP +finance VB I-VP +bone-marrow NN B-NP +transplants NNS I-NP +for IN B-PP +children NNS B-NP +. . O + +By IN B-PP +the DT B-NP +time NN I-NP +it PRP B-NP +paid VBD B-VP +its PRP$ B-NP +expenses NNS I-NP +it PRP B-NP +only RB B-ADVP +had VBD B-VP +$ $ B-NP +120,000 CD I-NP +left VBN B-VP +-- : O +not RB B-ADJP +enough RB I-ADJP +to TO B-VP +treat VB I-VP +even RB B-NP +one CD I-NP +child NN I-NP +. . O + +The DT B-NP +state NN I-NP +of IN B-PP +Illinois NNP B-NP +is VBZ B-VP +suing VBG I-VP +the DT B-NP +charity NN I-NP +for IN B-PP +fraud NN B-NP +in IN B-PP +Chicago NNP B-NP +, , O +along IN B-ADVP +with IN B-PP +Telesystems NNP B-NP +Marketing NNP I-NP +Inc. NNP I-NP +, , O +its PRP$ B-NP +Houston-based JJ I-NP +fund NN I-NP +raiser NN I-NP +. . O + +Both DT B-NP +deny VB B-VP +wrongdoing NN B-NP +. . O + +The DT B-NP +charity NN I-NP +admits VBZ B-VP +spending VBG I-VP +a DT B-NP +lot NN I-NP +on IN B-PP +fund NN B-NP +raising VBG I-NP +, , O +but CC O +says VBZ B-VP +that WDT B-NP +was VBD B-VP +necessary JJ B-ADJP +to TO B-VP +establish VB I-VP +a DT B-NP +donor NN I-NP +base NN I-NP +it PRP B-NP +can MD B-VP +tap VB I-VP +at IN B-PP +much RB B-NP +lower JJR I-NP +cost NN I-NP +in IN B-PP +years NNS B-NP +to TO B-VP +come VB I-VP +. . O + +Michael NNP B-NP +Burns NNP I-NP +, , O +president NN B-NP +of IN B-PP +Telesystems NNP B-NP +, , O +says VBZ B-VP +his PRP$ B-NP +concern NN I-NP +has VBZ B-VP +only RB I-VP +benefited VBN I-VP +from IN B-PP +the DT B-NP +publicity NN I-NP +surrounding VBG B-VP +the DT B-NP +case NN I-NP +, , O +noting VBG B-VP +that IN B-SBAR +three CD B-NP +other JJ I-NP +charities NNS I-NP +have VBP B-VP +signed VBN I-VP +on IN B-PRT +as IN B-PP +clients NNS B-NP +because IN B-SBAR +they PRP B-NP +were VBD B-VP +impressed VBN I-VP +with IN B-PP +the DT B-NP +amount NN I-NP +he PRP B-NP +raised VBD B-VP +for IN B-PP +National NNP B-NP +Children NNS I-NP +'s POS B-NP +. . O + +Meanwhile RB B-ADVP +, , O +a DT B-NP +state NN I-NP +court NN I-NP +judge NN I-NP +has VBZ B-VP +allowed VBN I-VP +the DT B-NP +charity NN I-NP +to TO B-VP +go VB I-VP +on IN B-PRT +soliciting VBG B-VP +funds NNS B-NP +. . O + +Enforcers NNS B-NP +ca MD B-VP +n't RB I-VP +put VB I-VP +charities NNS B-NP +out IN B-PP +of IN B-PP +business NN B-NP +simply RB B-ADVP +because IN B-SBAR +they PRP B-NP +spend VBP B-VP +the DT B-NP +lion NN I-NP +'s POS B-NP +share NN I-NP +of IN B-PP +their PRP$ B-NP +income NN I-NP +on IN B-PP +fund NN B-NP +raising VBG I-NP +. . O + +State NN B-NP +laws NNS I-NP +previously RB B-ADVP +used VBN B-VP +as IN B-PP +a DT B-NP +yardstick NN I-NP +minimum JJ B-NP +percentages NNS I-NP +of IN B-PP +income NN B-NP +-- : O +usually RB B-ADVP +half NN B-NP +-- : O +that WDT B-NP +had VBD B-VP +to TO I-VP +be VB I-VP +spent VBN I-VP +on IN B-PP +the DT B-NP +program NN I-NP +rather RB B-PP +than IN I-PP +overhead JJ B-NP +, , O +but CC O +these DT B-NP +have NN B-VP +been VBN I-VP +overturned VBN I-VP +by IN B-PP +the DT B-NP +U.S. NNP I-NP +Supreme NNP I-NP +Court NNP I-NP +. . O + +It PRP B-NP +has VBZ B-VP +ruled VBN I-VP +that IN B-SBAR +such JJ B-NP +laws NNS I-NP +might MD B-VP +work VB I-VP +to TO I-VP +stifle VB I-VP +fund NN B-NP +raising VBG I-NP +, , O +which WDT B-NP +would MD B-VP +amount VB I-VP +to TO B-PP +limiting VBG B-VP +the DT B-NP +charities NNS I-NP +' POS B-NP +first-amendment JJ I-NP +right NN I-NP +to TO B-PP +freedom NN B-NP +of IN B-PP +expression NN B-NP +. . O + +This DT B-NP +puts VBZ B-VP +upon IN B-PP +enforcers NNS B-NP +the DT B-NP +burden NN I-NP +of IN B-PP +proving VBG B-VP +outright JJ B-NP +fraud NN I-NP +or CC I-NP +misrepresentation NN I-NP +, , O +and CC O +such JJ B-NP +actions NNS I-NP +have VBP B-VP +been VBN I-VP +brought VBN I-VP +against IN B-PP +hundreds NNS B-NP +of IN B-PP +charities NNS B-NP +recently RB B-ADVP +. . O + +The DT B-NP +attorney NN I-NP +general NN I-NP +'s POS B-NP +office NN I-NP +in IN B-PP +Connecticut NNP B-NP +alone RB B-ADVP +has VBZ B-VP +put VBN I-VP +seven CD B-NP +of IN B-PP +them PRP B-NP +out IN B-PP +of IN B-PP +business NN B-NP +over IN B-PP +the DT B-NP +past JJ I-NP +couple NN I-NP +of IN B-PP +years NNS B-NP +, , O +and CC O +the DT B-NP +enforcement NN I-NP +drive NN I-NP +is VBZ B-VP +continuing VBG I-VP +there EX B-ADVP +and CC I-ADVP +elsewhere RB I-ADVP +. . O + +In IN B-PP +making VBG B-VP +cases NNS B-NP +, , O +the DT B-NP +authorities NNS I-NP +frequently RB B-ADVP +zero CD B-VP +in IN B-PRT +on IN B-PP +alleged VBN B-NP +misrepresentations NNS I-NP +made VBN B-VP +by IN B-PP +the DT B-NP +charities NNS I-NP +' POS B-NP +fund NN I-NP +raisers NNS I-NP +. . O + +Illinois NNP B-NP +, , O +for IN B-PP +instance NN B-NP +, , O +currently RB B-ADVP +has VBZ B-VP +under IN B-PP +investigation NN B-NP +10 CD B-NP +of IN B-PP +the DT B-NP +30 CD I-NP +companies NNS I-NP +drumming VBG B-VP +up IN B-PRT +funds NNS B-NP +for IN B-PP +charities NNS B-NP +soliciting VBG B-VP +there RB B-ADVP +. . O + +Enforcers NNS B-NP +pay VBP B-VP +special JJ B-NP +attention NN I-NP +to TO B-PP +operators NNS B-NP +using VBG B-VP +sweepstakes NN B-NP +prizes NNS I-NP +as IN B-PP +an DT B-NP +additional JJ I-NP +inducement NN I-NP +to TO B-VP +give VB I-VP +. . O + +Attorneys NNS B-NP +general JJ I-NP +in IN B-PP +several JJ B-NP +states NNS I-NP +, , O +including VBG B-PP +Illinois NNP B-NP +, , O +are VBP B-VP +already RB I-VP +suing VBG I-VP +Watson NNP B-NP +& CC I-NP +Hughey NNP I-NP +Co. NNP I-NP +, , O +an DT B-NP +Alexandria NNP I-NP +, , I-NP +Va.-based JJ I-NP +outfit NN I-NP +that IN B-NP +they PRP B-NP +say VBP B-VP +has VBZ B-VP +used VBN I-VP +deceptive JJ B-NP +sweepstakes NN I-NP +ads NNS I-NP +to TO B-VP +solicit VB I-VP +donations NNS B-NP +for IN B-PP +the DT B-NP +American NNP I-NP +Heart NNP I-NP +Disease NNP I-NP +Foundation NNP I-NP +and CC O +the DT B-NP +Cancer NNP I-NP +Fund NNP I-NP +of IN B-PP +America NNP B-NP +. . O + +According VBG B-PP +to TO B-PP +the DT B-NP +Illinois NNP I-NP +attorney NN I-NP +general NN I-NP +'s POS B-NP +suit NN I-NP +, , O +Watson NNP B-NP +& CC I-NP +Hughey NNP I-NP +sent VBD B-VP +mailings NNS B-NP +indicating VBG B-VP +that IN B-SBAR +recipients NNS B-NP +were VBD B-VP +guaranteed VBN I-VP +cash NN B-NP +prizes NNS I-NP +, , O +and CC O +could MD B-VP +win VB I-VP +up IN B-PP +to TO B-PP +an DT B-NP +additional JJ I-NP +$ $ I-NP +1,000 CD I-NP +on IN B-PP +top NN B-NP +of IN B-PP +them PRP B-NP +, , O +if IN B-SBAR +they PRP B-NP +contributed VBD B-VP +as RB B-NP +little JJ I-NP +as IN I-NP +$ $ I-NP +7 CD I-NP +. . O + +But CC O +the DT B-NP +total JJ I-NP +value NN I-NP +of IN B-PP +the DT B-NP +prizes NNS I-NP +was VBD B-VP +only RB B-NP +$ $ I-NP +5,000 CD I-NP +and CC O +most RBS B-NP +`` `` I-NP +winners NNS I-NP +'' '' O +will MD B-VP +receive VB I-VP +just RB B-NP +10 CD I-NP +cents NNS I-NP +, , O +according VBG B-PP +to TO B-PP +the DT B-NP +attorney NN I-NP +general NN I-NP +'s POS B-NP +office NN I-NP +. . O + +The DT B-NP +suit NN I-NP +is VBZ B-VP +still RB B-ADVP +pending VBG B-ADJP +in IN B-PP +Illinois NNP B-NP +state NN I-NP +court NN I-NP +. . O + +Watson NNP B-NP +& CC I-NP +Hughey NNP I-NP +has VBZ B-VP +denied VBN I-VP +the DT B-NP +allegations NNS I-NP +in IN B-PP +court NN B-NP +; : O +officials NNS B-NP +decline VBP B-VP +to TO I-VP +comment VB I-VP +further JJ B-ADVP +. . O + +While IN B-SBAR +they PRP B-NP +can MD B-VP +target VB I-VP +some DT B-NP +of IN B-PP +the DT B-NP +most RBS I-NP +obvious JJ I-NP +miscreants NNS I-NP +, , O +enforcers NNS B-NP +concede VBP B-VP +that IN B-SBAR +they PRP B-NP +are VBP B-VP +only RB I-VP +scratching VBG I-VP +the DT B-NP +surface NN I-NP +. . O + +There EX B-NP +are VBP B-VP +so RB B-NP +many JJ I-NP +cunning JJ I-NP +ploys NNS I-NP +used VBN B-VP +by IN B-PP +so RB B-NP +many JJ I-NP +dubious JJ I-NP +operators NNS I-NP +, , O +they PRP B-NP +say VBP B-VP +, , O +that IN B-SBAR +it PRP B-NP +is VBZ B-VP +probably RB B-ADVP +impossible JJ B-ADJP +to TO B-VP +stop VB I-VP +them PRP B-NP +all DT B-NP +. . O + +One CD B-NP +maneuver NN I-NP +: : O +the DT B-NP +`` `` I-NP +public JJ I-NP +education NN I-NP +'' '' I-NP +gambit NN I-NP +. . O + +The DT B-NP +solicitation NN I-NP +material NN I-NP +indicates VBZ B-VP +that IN B-SBAR +donations NNS B-NP +will MD B-VP +go VB I-VP +toward IN B-PP +a DT B-NP +campaign NN I-NP +alerting VBG B-VP +and CC I-VP +informing VBG I-VP +the DT B-NP +public NN I-NP +about IN B-PP +some DT B-NP +health NN I-NP +or CC I-NP +other JJ I-NP +issue NN I-NP +. . O + +What WP B-NP +it PRP B-NP +does VBZ B-VP +n't RB I-VP +say VB I-VP +is VBZ B-VP +that IN B-SBAR +the DT B-NP +entire JJ I-NP +`` `` I-NP +campaign NN I-NP +'' '' O +may MD B-VP +be VB I-VP +the DT B-NP +fund-raising NN I-NP +letter NN I-NP +itself PRP B-NP +. . O + +`` `` O +All DT B-ADVP +too RB I-ADVP +often RB I-ADVP +this DT B-NP +will MD B-VP +merely RB I-VP +be VB I-VP +a DT B-NP +statement NN I-NP +on IN B-PP +the DT B-NP +solicitation NN I-NP +such JJ B-PP +as IN I-PP +, , O +` `` O +Do VBP B-VP +n't RB I-VP +smoke VB I-VP +! . O +' '' O +or CC O +` `` O +Wear VB B-VP +suntan NN B-NP +lotion NN I-NP +, , O +' POS O +`` `` O +says VBZ B-VP +William NNP B-NP +Webster NNP I-NP +, , O +attorney NN B-NP +general NN I-NP +of IN B-PP +Missouri NNP B-NP +. . O + +`` `` O +By IN B-PP +putting VBG B-VP +these DT B-NP +pithy JJ I-NP +statements NNS I-NP +on IN B-PP +the DT B-NP +solicitations NNS I-NP +, , O +hundreds NNS B-NP +of IN B-PP +thousands NNS B-NP +of IN B-PP +dollars NNS B-NP +are VBP B-VP +claimed VBN I-VP +to TO I-VP +have VB I-VP +been VBN I-VP +spent VBN I-VP +on IN B-PP +education NN B-NP +to TO B-PP +consumers NNS B-NP +when WRB B-ADVP +in IN B-PP +fact NN B-NP +this DT B-NP +represents VBZ B-VP +the DT B-NP +costs NNS I-NP +of IN B-PP +sending VBG B-VP +the DT B-NP +newsletters NNS I-NP +. . O +'' '' O + +Mr. NNP B-NP +Webster NNP I-NP +cites VBZ B-VP +a DT B-NP +four-page JJ I-NP +mailing NN I-NP +from IN B-PP +the DT B-NP +United NNP I-NP +Cancer NNP I-NP +Council NNP I-NP +that WDT B-NP +offers VBZ B-VP +a DT B-NP +chance NN I-NP +to TO B-VP +win VB I-VP +$ $ B-NP +5,000 CD I-NP +in IN B-PP +gold NN B-NP +bullion NN I-NP +to TO B-PP +those DT B-NP +giving VBG B-VP +as RB B-NP +little JJ I-NP +as IN I-NP +$ $ I-NP +5 NN I-NP +to TO B-PP +cancer NN B-NP +education NN I-NP +. . O + +`` `` O +A DT B-NP +few JJ I-NP +boilerplate NN I-NP +warnings NNS I-NP +about IN B-PP +cancer NN B-NP +appear VB B-VP +but CC O +that DT B-NP +'s VBZ B-VP +only RB B-NP +two CD I-NP +inches NNS I-NP +in IN B-PP +all DT B-NP +four CD I-NP +pages NNS I-NP +. . O + +I PRP B-NP +think VBP B-VP +some DT B-NP +people NNS I-NP +may MD B-VP +believe VB I-VP +they PRP B-NP +'re VBP B-VP +helping VBG I-VP +fund NN I-VP +a DT B-NP +massive JJ I-NP +TV NN I-NP +and CC I-NP +print NN I-NP +campaign NN I-NP +, , O +but CC O +we PRP B-NP +could MD B-VP +n't RB I-VP +find VB I-VP +that IN B-SBAR +the DT B-NP +charity NN I-NP +does VBZ B-VP +anything NN B-NP +except IN B-PP +write VB B-VP +these DT B-NP +letters NNS I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +Officials NNS B-NP +at IN B-PP +the DT B-NP +Washington NNP I-NP +D.C.-based JJ I-NP +charity NN I-NP +did VBD B-VP +n't RB I-VP +return VB I-VP +repeated VBN B-NP +phone NN I-NP +calls NNS I-NP +. . O + +Many JJ B-NP +fly-by-night JJ I-NP +charities NNS I-NP +ride VBP B-VP +the DT B-NP +coattails NNS I-NP +of IN B-PP +the DT B-NP +biggest JJS I-NP +, , I-NP +best-known JJ I-NP +and CC I-NP +most RBS I-NP +reputable JJ I-NP +ones NNS I-NP +by IN B-PP +adopting VBG B-VP +names NNS B-NP +similar JJ B-ADJP +to TO B-PP +theirs PRP B-NP +. . O + +The DT B-NP +established VBN I-NP +charities NNS I-NP +are VBP B-VP +bothered VBN I-VP +by IN B-PP +this DT B-NP +but CC O +say VBP B-VP +they PRP B-NP +can MD B-VP +do VB I-VP +little JJ B-NP +about IN B-PP +it PRP B-NP +. . O + +`` `` O +We PRP B-NP +ca MD B-VP +n't RB I-VP +police VB I-VP +the DT B-NP +many JJ I-NP +organizations NNS I-NP +that WDT B-NP +have VBP B-VP +sprung VBN I-VP +up IN B-PRT +in IN B-PP +the DT B-NP +last JJ I-NP +few JJ I-NP +years NNS I-NP +using VBG B-VP +part NN B-NP +of IN B-PP +our PRP$ B-NP +name NN I-NP +. . O + +Most JJS B-NP +of IN B-PP +them PRP B-NP +do VBP B-VP +n't RB I-VP +last JJ I-VP +for IN B-PP +long JJ B-ADJP +, , O +but CC O +in IN B-PP +the DT B-NP +meantime NN I-NP +all DT B-NP +we PRP B-NP +can MD B-VP +do VB I-VP +is VBZ B-VP +tell VB I-VP +people NNS B-NP +they PRP B-NP +are VBP B-VP +n't RB I-VP +connected VBN I-VP +with IN B-PP +us PRP B-NP +, , O +'' '' O +says VBZ B-VP +a DT B-NP +spokeswoman NN I-NP +for IN B-PP +the DT B-NP +American NNP I-NP +Heart NNP I-NP +Association NNP I-NP +. . O + +And CC O +sometimes RB B-ADVP +a DT B-NP +reputable JJ I-NP +charity NN I-NP +with IN B-PP +a DT B-NP +household NN I-NP +name NN I-NP +gets VBZ B-VP +used VBN I-VP +and CC O +does VBZ B-VP +n't RB I-VP +even RB I-VP +know VB I-VP +it PRP B-NP +. . O + +A DT B-NP +couple NN I-NP +in IN B-PP +Rockford NNP B-NP +, , O +Ill. NNP B-NP +, , O +raised VBD B-VP +$ $ B-NP +12,591 CD I-NP +earlier RBR B-NP +this DT I-NP +year NN I-NP +using VBG B-VP +the DT B-NP +name NN I-NP +and CC I-NP +logo NN I-NP +of IN B-PP +Mothers NNPS B-NP +Against IN B-PP +Drunk JJ B-NP +Driving VBG I-NP +, , O +without IN B-PP +permission NN B-NP +from IN B-PP +the DT B-NP +group NN I-NP +. . O + +MADD NNP B-NP +did VBD B-VP +n't RB I-VP +learn VB I-VP +of IN B-PP +the DT B-NP +fund NN I-NP +raising VBG I-NP +until IN B-SBAR +the DT B-NP +couple NN I-NP +sent VBD B-VP +it PRP B-NP +a DT B-NP +check NN I-NP +for IN B-PP +$ $ B-NP +613 CD I-NP +, , O +along IN B-ADVP +with IN B-PP +a DT B-NP +letter NN I-NP +saying VBG B-VP +that WDT B-NP +was VBD B-VP +the DT B-NP +charity NN I-NP +'s POS B-NP +`` `` I-NP +share NN I-NP +. . O +'' '' O + +The DT B-NP +Illinois NNP I-NP +Attorney NNP I-NP +General NNP I-NP +won VBD B-VP +a DT B-NP +court NN I-NP +order NN I-NP +to TO B-VP +prevent VB I-VP +the DT B-NP +couple NN I-NP +from IN B-PP +raising VBG B-VP +further JJ B-NP +funds NNS I-NP +without IN B-PP +MADD NNP B-NP +'s POS B-NP +permission NN I-NP +. . O + +The DT B-NP +couple NN I-NP +could MD B-VP +n't RB I-VP +be VB I-VP +reached VBN I-VP +for IN B-PP +comment NN B-NP +and CC O +apparently RB B-VP +have VBP I-VP +left VBN I-VP +Rockford NNP B-NP +, , O +law NN B-NP +enforcement NN I-NP +officials NNS I-NP +report VBP B-VP +. . O + +Denise NNP B-NP +McDonald NNP I-NP +, , O +a DT B-NP +spokeswoman NN I-NP +for IN B-PP +MADD NNP B-NP +, , O +says VBZ B-VP +, , O +`` `` O +It PRP B-NP +'s VBZ B-VP +scary JJ B-ADJP +, , O +because IN B-SBAR +anybody NN B-NP +could MD B-VP +do VB I-VP +this DT B-NP +. . O +'' '' O + +Mr. NNP B-NP +Johnson NNP I-NP +is VBZ B-VP +a DT B-NP +staff NN I-NP +reporter NN I-NP +in IN B-PP +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +'s POS B-NP +Chicago NNP I-NP +bureau NN I-NP +. . O + +Overhead NN B-NP +costs NNS I-NP +at IN B-PP +some DT B-NP +of IN B-PP +the DT B-NP +largest JJS I-NP +charities NNS I-NP +, , O +in IN B-PP +millions NNS B-NP +of IN B-PP +dollars NNS B-NP + +British JJ B-NP +Airways NNP I-NP +PLC NNP I-NP +, , O +a DT B-NP +crucial JJ I-NP +participant NN I-NP +in IN B-PP +the DT B-NP +proposed VBN I-NP +buy-out NN I-NP +of IN B-PP +UAL NNP B-NP +Corp. NNP I-NP +, , O +washed VBD B-VP +its PRP$ B-NP +hands NNS I-NP +of IN B-PP +the DT B-NP +current JJ I-NP +efforts NNS I-NP +to TO B-VP +revive VB I-VP +a DT B-NP +bid NN I-NP +for IN B-PP +the DT B-NP +parent NN I-NP +of IN B-PP +United NNP B-NP +Airlines NNPS I-NP +. . O + +Specifically RB B-ADVP +, , O +the DT B-NP +British JJ I-NP +carrier NN I-NP +said VBD B-VP +it PRP B-NP +currently RB B-ADVP +has VBZ B-VP +no DT B-NP +plans NNS I-NP +to TO B-VP +participate VB I-VP +in IN B-PP +any DT B-NP +new JJ I-NP +offer NN I-NP +for IN B-PP +UAL NNP B-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +British NNP B-NP +Air NNP I-NP +officially RB B-ADVP +withdrew VBD B-VP +its PRP$ B-NP +support NN I-NP +for IN B-PP +the DT B-NP +previous JJ I-NP +$ $ I-NP +300-a-share JJ I-NP +bid NN I-NP +in IN B-PP +a DT B-NP +terse JJ I-NP +statement NN I-NP +that WDT B-NP +said VBD B-VP +`` `` O +the DT B-NP +original JJ I-NP +deal NN I-NP +is VBZ B-VP +closed VBN I-VP +. . O +'' '' O + +Company NN B-NP +officials NNS I-NP +said VBD B-VP +later RB B-ADVP +that IN B-SBAR +British JJ B-NP +Airways NNPS I-NP +believes VBZ B-VP +its PRP$ B-NP +involvement NN I-NP +in IN B-PP +the DT B-NP +UAL NNP I-NP +buy-out NN I-NP +ended VBD B-VP +last JJ B-NP +Friday NNP I-NP +when WRB B-ADVP +the DT B-NP +buy-out NN I-NP +group NN I-NP +, , O +which WDT B-NP +also RB B-ADVP +includes VBZ B-VP +UAL NNP B-NP +'s POS B-NP +management NN I-NP +and CC I-NP +pilot NN I-NP +union NN I-NP +, , O +failed VBD B-VP +to TO I-VP +obtain VB I-VP +financing NN B-NP +for IN B-PP +the DT B-NP +$ $ I-NP +6.79 CD I-NP +billion CD I-NP +transaction NN I-NP +. . O + +The DT B-NP +carrier NN I-NP +stopped VBD B-VP +short NN B-ADVP +of IN B-PP +saying VBG B-VP +it PRP B-NP +would MD B-VP +n't RB O +at IN B-PP +some DT B-NP +point NN I-NP +reconsider VB B-VP +participating VBG I-VP +in IN B-PP +any DT B-NP +new JJ I-NP +bid NN I-NP +for IN B-PP +UAL NNP B-NP +. . O + +However RB B-ADVP +, , O +company NN B-NP +officials NNS I-NP +said VBD B-VP +they PRP B-NP +plan VBP B-VP +to TO I-VP +take VB I-VP +`` `` B-NP +no DT I-NP +initiatives NNS I-NP +'' '' O +to TO B-VP +resurrect VB I-VP +the DT B-NP +transaction NN I-NP +, , O +and CC O +`` `` O +are VBP B-VP +n't RB O +aware JJ B-ADJP +'' '' O +of IN B-PP +any DT B-NP +restructured VBN I-NP +bid NN I-NP +in IN B-PP +the DT B-NP +making NN I-NP +. . O + +Collectively RB B-ADVP +, , O +the DT B-NP +statements NNS I-NP +raised VBD B-VP +questions NNS B-NP +about IN B-PP +whether IN B-SBAR +a DT B-NP +new JJ I-NP +bid NN I-NP +for IN B-PP +UAL NNP B-NP +will MD B-VP +ever RB I-VP +get VB I-VP +off IN B-PP +the DT B-NP +ground NN I-NP +. . O + +The DT B-NP +transaction NN I-NP +has VBZ B-VP +had VBN I-VP +a DT B-NP +series NN I-NP +of IN B-PP +setbacks NNS B-NP +since IN B-SBAR +the DT B-NP +financing NN I-NP +problems NNS I-NP +became VBD B-VP +known VBN B-ADJP +last JJ B-NP +Friday NNP I-NP +, , O +with IN B-PP +no DT B-NP +signs NNS I-NP +or CC I-NP +statements NNS I-NP +from IN B-PP +the DT B-NP +buy-out NN I-NP +group NN I-NP +to TO B-VP +indicate VB I-VP +that IN B-SBAR +any DT B-NP +progress NN I-NP +has VBZ B-VP +taken VBN I-VP +place NN B-NP +. . O + +However RB B-ADVP +, , O +in IN B-PP +response NN B-NP +to TO B-PP +the DT B-NP +British NNP I-NP +Air NNP I-NP +decision NN I-NP +, , O +United NNP B-NP +'s POS B-NP +pilot NN I-NP +union NN I-NP +vowed VBD B-VP +to TO I-VP +continue VB I-VP +efforts NNS B-NP +to TO B-VP +revive VB I-VP +the DT B-NP +buy-out NN I-NP +. . O + +Pilot NN B-NP +union NN I-NP +Chairman NNP I-NP +Frederick NNP I-NP +C. NNP I-NP +Dubinsky NNP I-NP +said VBD B-VP +advisers NNS B-NP +to TO B-PP +UAL NNP B-NP +management NN I-NP +and CC O +the DT B-NP +union NN I-NP +will MD B-VP +begin VB I-VP +meeting NN I-VP +in IN B-PP +New NNP B-NP +York NNP I-NP +today NN B-NP +and CC O +will MD B-VP +work VB I-VP +through IN B-PP +the DT B-NP +weekend NN I-NP +to TO B-VP +devise VB I-VP +a DT B-NP +new JJ I-NP +proposal NN I-NP +to TO B-VP +present VB I-VP +to TO B-PP +UAL NNP B-NP +'s POS B-NP +board NN I-NP +`` `` O +at IN B-PP +the DT B-NP +earliest JJS I-NP +time NN I-NP +possible JJ I-NP +. . O +'' '' O + +Pilot NN B-NP +union NN I-NP +advisers NNS I-NP +appeared VBD B-VP +confident JJ B-ADJP +that IN B-SBAR +a DT B-NP +new JJ I-NP +bid NN I-NP +could MD B-VP +go VB I-VP +forward RB B-ADVP +even RB B-ADVP +without IN B-PP +British NNP B-NP +Air NNP I-NP +'s POS B-NP +participation NN I-NP +. . O + +UAL NNP B-NP +declined VBD B-VP +to TO I-VP +comment VB I-VP +on IN B-PP +British NNP B-NP +Air NNP I-NP +'s POS B-NP +statement NN I-NP +. . O + +UAL NNP B-NP +Chairman NNP I-NP +Stephen NNP I-NP +M. NNP I-NP +Wolf NNP I-NP +, , O +who WP B-NP +is VBZ B-VP +leading VBG I-VP +the DT B-NP +management NN I-NP +end NN I-NP +of IN B-PP +the DT B-NP +buy-out NN I-NP +, , O +has VBZ B-VP +n't RB I-VP +provided VBN I-VP +investors NNS B-NP +with IN B-PP +any DT B-NP +assurances NNS I-NP +about IN B-PP +the DT B-NP +prospect NN I-NP +of IN B-PP +a DT B-NP +new JJ I-NP +deal NN I-NP +. . O + +In IN B-PP +another DT B-NP +setback NN I-NP +yesterday NN B-NP +, , O +United NNP B-NP +'s POS B-NP +machinist NN I-NP +union NN I-NP +asked VBD B-VP +the DT B-NP +Treasury NNP I-NP +Department NNP I-NP +to TO B-VP +investigate VB I-VP +whether IN B-SBAR +certain JJ B-NP +aspects NNS I-NP +of IN B-PP +the DT B-NP +original JJ I-NP +buy-out NN I-NP +proposal NN I-NP +violated VBD B-VP +tax NN B-NP +laws NNS I-NP +. . O + +In IN B-PP +an DT B-NP +effort NN I-NP +to TO B-VP +derail VB I-VP +the DT B-NP +buy-out NN I-NP +, , O +the DT B-NP +union NN I-NP +has VBZ B-VP +already RB I-VP +called VBN I-VP +for IN B-PP +investigations NNS B-NP +by IN B-PP +the DT B-NP +Securities NNP I-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +, , I-NP +Transportation NNP I-NP +Department NNP I-NP +and CC I-NP +Labor NNP I-NP +Department NNP I-NP +. . O + +But CC O +there EX B-NP +was VBD B-VP +one CD B-NP +bright JJ I-NP +spot NN I-NP +yesterday NN B-NP +. . O + +The DT B-NP +United NNP I-NP +flight-attendants NNS I-NP +union NN I-NP +agreed VBD B-VP +to TO B-PP +negotiations NNS B-NP +that WDT B-NP +could MD B-VP +lead VB I-VP +to TO B-PP +the DT B-NP +flight NN I-NP +attendants NNS I-NP +contributing VBG B-VP +concessions NNS B-NP +to TO B-PP +a DT B-NP +revived VBN I-NP +bid NN I-NP +in IN B-PP +exchange NN B-NP +for IN B-PP +an DT B-NP +ownership NN I-NP +stake NN I-NP +. . O + +The DT B-NP +pilot NN I-NP +union NN I-NP +, , O +the DT B-NP +only RB I-NP +one CD I-NP +to TO B-VP +support VB I-VP +the DT B-NP +buy-out NN I-NP +thus RB B-ADVP +far RB I-ADVP +, , O +said VBD B-VP +the DT B-NP +flight NN I-NP +attendants NNS I-NP +' POS B-NP +decision NN I-NP +`` `` O +enforces VBZ B-VP +our PRP$ B-NP +belief NN I-NP +that IN B-SBAR +an DT B-NP +all-employee JJ I-NP +owned VBN I-NP +airline NN I-NP +is VBZ B-VP +practical JJ B-ADJP +and CC I-ADJP +achievable JJ I-ADJP +. . O +'' '' O + +Still RB B-ADVP +, , O +without IN B-PP +the DT B-NP +assurance NN I-NP +of IN B-PP +British JJ B-NP +Airways NNPS I-NP +' POS B-NP +financial JJ I-NP +backing NN I-NP +, , O +it PRP B-NP +will MD B-VP +be VB I-VP +tougher JJR B-ADJP +for IN B-SBAR +the DT B-NP +buy-out NN I-NP +group NN I-NP +to TO B-VP +convince VB I-VP +already-reluctant JJ B-NP +banks NNS I-NP +to TO B-VP +make VB I-VP +loan NN B-NP +commitments NNS I-NP +for IN B-PP +a DT B-NP +revised VBN I-NP +bid NN I-NP +, , O +especially RB B-ADVP +since IN B-SBAR +British NNP B-NP +Air NNP I-NP +'s POS B-NP +original JJ I-NP +investment NN I-NP +represented VBN B-VP +78 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +cash NN I-NP +equity NN I-NP +contribution NN I-NP +for IN B-PP +the DT B-NP +bid NN I-NP +. . O + +Under IN B-PP +the DT B-NP +previous JJ I-NP +plan NN I-NP +, , O +British NNP B-NP +Air NNP I-NP +would MD B-VP +have VB I-VP +received VBN I-VP +a DT B-NP +15 CD I-NP +% NN I-NP +stake NN I-NP +in IN B-PP +UAL NNP B-NP +in IN B-PP +exchange NN B-NP +for IN B-PP +a DT B-NP +$ $ I-NP +750 CD I-NP +million CD I-NP +equity NN I-NP +investment NN I-NP +, , O +with IN B-PP +a DT B-NP +75 CD I-NP +% NN I-NP +stake NN I-NP +going VBG B-VP +to TO B-PP +UAL NNP B-NP +employees NNS I-NP +and CC O +10 CD B-NP +% NN I-NP +to TO B-PP +UAL NNP B-NP +management NN I-NP +. . O + +British NNP B-NP +Air NNP I-NP +officials NNS I-NP +said VBD B-VP +the DT B-NP +airline NN I-NP +'s POS B-NP +chairman NN I-NP +, , O +Lord NNP B-NP +King NNP I-NP +, , O +was VBD B-VP +concerned VBN B-ADJP +about IN B-PP +news NN B-NP +reports NNS I-NP +indicating VBG B-VP +that IN B-SBAR +British NNP B-NP +Air NNP I-NP +might MD B-VP +be VB I-VP +willing JJ B-ADJP +to TO B-VP +participate VB I-VP +in IN B-PP +a DT B-NP +bid NN I-NP +that WDT B-NP +included VBD B-VP +a DT B-NP +lower JJR I-NP +purchase NN I-NP +price NN I-NP +and CC O +better JJR B-NP +investment NN I-NP +terms NNS I-NP +for IN B-PP +the DT B-NP +British JJ I-NP +carrier NN I-NP +. . O + +The DT B-NP +previous JJ I-NP +reports NNS I-NP +were VBD B-VP +based VBN I-VP +on IN B-PP +remarks NNS B-NP +by IN B-PP +British NNP B-NP +Air NNP I-NP +'s POS B-NP +chief JJ I-NP +financial JJ I-NP +officer NN I-NP +, , O +Derek NNP B-NP +Stevens NNP I-NP +, , O +who WP B-NP +said VBD B-VP +any DT B-NP +revised VBN I-NP +bid NN I-NP +would MD B-VP +have VB I-VP +to TO I-VP +include VB I-VP +a DT B-NP +lower JJR I-NP +purchase NN I-NP +price NN I-NP +to TO B-VP +reflect VB I-VP +the DT B-NP +sharp JJ I-NP +drop NN I-NP +in IN B-PP +UAL NNP B-NP +'s POS B-NP +stock NN I-NP +in IN B-PP +the DT B-NP +past JJ I-NP +week NN I-NP +. . O + +UAL NNP B-NP +stock NN I-NP +dropped VBD B-VP +$ $ B-NP +1.625 CD I-NP +yesterday NN B-NP +to TO B-PP +$ $ B-NP +190.125 CD I-NP +on IN B-PP +volume NN B-NP +of IN B-PP +923,500 CD B-NP +shares NNS I-NP +in IN B-PP +composite JJ B-NP +trading NN I-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +. . O + +UAL NNP B-NP +declined VBD B-VP +to TO I-VP +comment VB I-VP +on IN B-PP +British NNP B-NP +Air NNP I-NP +'s POS B-NP +statement NN I-NP +. . O + +In IN B-PP +an DT B-NP +interview NN I-NP +Wednesday NNP B-NP +with IN B-PP +Dow NNP B-NP +Jones NNP I-NP +Professional NNP I-NP +Investor NNP I-NP +Report NNP I-NP +, , O +Mr. NNP B-NP +Stevens NNP I-NP +said VBD B-VP +, , O +`` `` O +We PRP B-NP +'re VBP B-VP +in IN B-PP +no DT B-NP +way NN I-NP +committed VBN B-ADJP +to TO B-PP +a DT B-NP +deal NN I-NP +going VBG B-VP +through IN B-PRT +at IN B-ADVP +all DT I-ADVP +. . O + +We PRP B-NP +'re VBP B-VP +not RB I-VP +rushing VBG I-VP +into IN B-PP +anything NN B-NP +. . O + +We PRP B-NP +do VBP B-VP +n't RB I-VP +want VB I-VP +to TO I-VP +be VB I-VP +party NN B-NP +to TO B-PP +a DT B-NP +second JJ I-NP +rejection NN I-NP +. . O +'' '' O + +Indeed RB B-ADVP +, , O +British NNP B-NP +Air NNP I-NP +seemed VBD B-VP +to TO I-VP +be VB I-VP +distancing VBG I-VP +itself PRP B-NP +from IN B-PP +the DT B-NP +troubled JJ I-NP +transaction NN I-NP +early RB B-ADVP +in IN B-PP +an DT B-NP +effort NN I-NP +to TO B-VP +avoid VB I-VP +any DT B-NP +further JJ I-NP +embarrassment NN I-NP +. . O + +The DT B-NP +original JJ I-NP +transaction NN I-NP +fell VBD B-VP +through IN B-PRT +on IN B-PP +the DT B-NP +same JJ I-NP +day NN I-NP +British NNP B-NP +Air NNP I-NP +shareholders NNS I-NP +approved VBD B-VP +the DT B-NP +plan NN I-NP +at IN B-PP +a DT B-NP +special JJ I-NP +meeting NN I-NP +after IN B-SBAR +the DT B-NP +British JJ I-NP +succeeded VBN B-VP +in IN B-PP +arranging VBG B-VP +the DT B-NP +financing NN I-NP +for IN B-PP +its PRP$ B-NP +equity NN I-NP +contribution NN I-NP +. . O + +The DT B-NP +carrier NN I-NP +also RB B-ADVP +seemed VBD B-VP +eager JJ B-ADJP +to TO B-VP +place VB I-VP +blame NN B-NP +on IN B-PP +its PRP$ B-NP +American JJ I-NP +counterparts NNS I-NP +. . O + +`` `` O +The DT B-NP +-LCB- ( I-NP +buy-out NN I-NP +-RCB- ) I-NP +consortium NN I-NP +ceased VBD B-VP +to TO I-VP +exist VB I-VP +because IN B-SBAR +our PRP$ B-NP +American JJ I-NP +partners NNS I-NP +were VBD B-VP +not RB B-ADJP +capable JJ I-ADJP +of IN B-PP +organizing VBG B-VP +the DT B-NP +financing NN I-NP +, , O +'' '' O +a DT B-NP +British NNP I-NP +Air NNP I-NP +spokesman NN I-NP +said VBD B-VP +. . O + +British JJ B-NP +Airways NNPS I-NP +may MD B-VP +have VB I-VP +begun VBN I-VP +to TO I-VP +have VB I-VP +second JJ B-NP +thoughts NNS I-NP +about IN B-PP +the DT B-NP +transaction NN I-NP +after IN B-SBAR +the DT B-NP +Transportation NNP I-NP +Department NNP I-NP +forced VBD B-VP +Northwest NNP B-NP +'s POS B-NP +Airlines NNPS I-NP +' POS B-NP +new JJ I-NP +owners NNS I-NP +to TO B-VP +restructure VB I-VP +the DT B-NP +equity NN I-NP +contribution NN I-NP +of IN B-PP +KLM NNP B-NP +Royal NNP I-NP +Dutch JJ I-NP +Airlines NNPS I-NP +in IN B-PP +that DT B-NP +carrier NN I-NP +. . O + +Most JJS B-NP +of IN B-PP +the DT B-NP +department NN I-NP +'s POS B-NP +statements NNS I-NP +since IN B-PP +the DT B-NP +Northwest NNP I-NP +transaction NN I-NP +indicated VBD B-VP +it PRP B-NP +planned VBD B-VP +to TO I-VP +curtail VB I-VP +foreign JJ B-NP +ownership NN I-NP +stakes NNS I-NP +in IN B-PP +U.S. NNP B-NP +carriers NNS I-NP +. . O + +Even RB B-ADVP +before IN B-PP +British NNP B-NP +Air NNP I-NP +'s POS B-NP +announcement NN I-NP +, , O +pilot NN B-NP +union NN I-NP +leaders NNS I-NP +had VBD B-VP +been VBN I-VP +meeting NN I-VP +in IN B-PP +Chicago NNP B-NP +yesterday NN B-NP +to TO B-VP +consider VB I-VP +their PRP$ B-NP +options NNS I-NP +. . O + +The DT B-NP +leaders NNS I-NP +expressed VBD B-VP +support NN B-NP +for IN B-PP +trying VBG B-VP +to TO I-VP +revive VB I-VP +the DT B-NP +bid NN I-NP +following VBG B-PP +a DT B-NP +briefing NN I-NP +Wednesday NNP B-NP +by IN B-PP +the DT B-NP +union NN I-NP +'s POS B-NP +advisers NNS I-NP +, , O +Lazard NNP B-NP +Freres NNP I-NP +& CC I-NP +Co. NNP I-NP +and CC O +Paul NNP B-NP +, , I-NP +Weiss NNP I-NP +, , I-NP +Rifkind NNP I-NP +Wharton NNP I-NP +& CC I-NP +Garrison NNP I-NP +. . O + +They PRP B-NP +also RB B-ADVP +unanimously RB B-ADVP +re-elected VBN B-VP +Mr. NNP B-NP +Dubinsky NNP I-NP +, , O +the DT B-NP +union NN I-NP +chairman NN I-NP +who WP B-NP +has VBZ B-VP +led VBN I-VP +the DT B-NP +pilots NNS I-NP +' POS B-NP +2 CD O +1\/2-year JJ O +fight NN B-NP +to TO B-VP +take VB I-VP +control NN B-NP +of IN B-PP +the DT B-NP +airline NN I-NP +. . O + +UAL NNP B-NP +'s POS B-NP +advisers NNS I-NP +have VBP B-VP +indicated VBN I-VP +previously RB B-ADVP +that IN B-SBAR +it PRP B-NP +may MD B-VP +take VB I-VP +a DT B-NP +while JJ I-NP +to TO B-VP +come VB I-VP +forward RB B-PRT +with IN B-PP +a DT B-NP +revised VBN I-NP +plan NN I-NP +since IN B-SBAR +they PRP B-NP +want VBP B-VP +to TO I-VP +have VB I-VP +firm NN B-NP +bank NN I-NP +commitments NNS I-NP +before IN B-PP +launching VBG B-VP +a DT B-NP +new JJ I-NP +bid NN I-NP +. . O + +They PRP B-NP +have VBP B-VP +maintained VBN I-VP +that IN B-SBAR +banks NNS B-NP +remain VBP B-VP +interested JJ B-ADJP +in IN B-PP +financing VBG B-VP +the DT B-NP +transaction NN I-NP +. . O + +The DT B-NP +buy-out NN I-NP +fell VBD B-VP +through IN B-PRT +after IN B-SBAR +Citicorp NNP B-NP +and CC O +Chase NNP B-NP +Manhattan NNP I-NP +Corp. NNP I-NP +, , O +the DT B-NP +lead NN I-NP +banks NNS I-NP +in IN B-PP +the DT B-NP +transaction NN I-NP +, , O +failed VBD B-VP +to TO I-VP +obtain VB I-VP +$ $ B-NP +7.2 CD I-NP +billion CD I-NP +in IN B-PP +financing NN B-NP +needed VBN B-VP +for IN B-PP +the DT B-NP +plan NN I-NP +. . O + +Italy NNP B-NP +'s POS B-NP +industrial JJ I-NP +wholesale JJ I-NP +sales NNS I-NP +index NN I-NP +rose VBD B-VP +13.2 CD B-NP +% NN I-NP +in IN B-PP +June NNP B-NP +from IN B-PP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +, , O +the DT B-NP +state NN I-NP +statistical JJ I-NP +institute NN I-NP +Istat NNP I-NP +said VBD B-VP +. . O + +The DT B-NP +June NNP I-NP +increase NN I-NP +compared VBN B-VP +with IN B-PP +a DT B-NP +rise NN I-NP +of IN B-PP +10.5 CD B-NP +% NN I-NP +in IN B-PP +May NNP B-NP +from IN B-PP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Domestic JJ B-NP +wholesale JJ I-NP +sales NNS I-NP +rose VBD B-VP +11.9 CD B-NP +% NN I-NP +from IN B-PP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +, , O +while IN B-SBAR +foreign JJ B-NP +sales NNS I-NP +jumped VBD B-VP +17.3 CD B-NP +% NN I-NP +, , O +Istat NNP B-NP +said VBD B-VP +. . O + +For IN B-PP +the DT B-NP +first JJ I-NP +six CD I-NP +months NNS I-NP +, , O +wholesale JJ B-NP +sales NNS I-NP +rose VBD B-VP +12.3 CD B-NP +% NN I-NP +from IN B-PP +the DT B-NP +year NN I-NP +before RB B-ADVP +, , O +reflecting VBG B-VP +to TO B-PP +a DT B-NP +11.5 CD I-NP +% NN I-NP +jump NN I-NP +in IN B-PP +domestic JJ B-NP +sales NNS I-NP +and CC O +a DT B-NP +14.6 CD I-NP +% NN I-NP +boost NN I-NP +in IN B-PP +foreign JJ B-NP +sales NNS I-NP +. . O + +Sales NNS B-NP +of IN B-PP +capital NN B-NP +goods NNS I-NP +to TO B-PP +foreign JJ B-NP +and CC I-NP +domestic JJ I-NP +destinations NNS I-NP +increased VBN B-VP +16.6 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +January-June JJ I-NP +period NN I-NP +from IN B-PP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Sales NNS B-NP +of IN B-PP +consumer NN B-NP +goods NNS I-NP +rose VBD B-VP +6.9 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +same JJ I-NP +period NN I-NP +, , O +while IN B-SBAR +sales NNS B-NP +of IN B-PP +intermediate JJ B-NP +goods NNS I-NP +were VBD B-VP +up IN B-ADVP +13.8 CD B-NP +% NN I-NP +from IN B-PP +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Senate NNP B-NP +Democrats NNPS I-NP +favoring VBG B-VP +a DT B-NP +cut NN I-NP +in IN B-PP +the DT B-NP +capital-gains NNS I-NP +tax VBP I-NP +have VBP B-VP +decided VBN I-VP +, , O +under IN B-PP +pressure NN B-NP +from IN B-PP +their PRP$ B-NP +leaders NNS I-NP +, , O +not RB O +to TO B-VP +offer VB I-VP +their PRP$ B-NP +own JJ I-NP +proposal NN I-NP +, , O +placing VBG B-VP +another DT B-NP +obstacle NN I-NP +in IN B-PP +the DT B-NP +path NN I-NP +of IN B-PP +President NNP B-NP +Bush NNP I-NP +'s POS B-NP +legislative JJ I-NP +priority NN I-NP +. . O + +A DT B-NP +core NN I-NP +group NN I-NP +of IN B-PP +six CD B-NP +or CC I-NP +so RB I-NP +Democratic JJ I-NP +senators NNS I-NP +has VBZ B-VP +been VBN I-VP +working VBG I-VP +behind IN B-PP +the DT B-NP +scenes NNS I-NP +to TO B-VP +develop VB I-VP +a DT B-NP +proposal NN I-NP +to TO B-VP +reduce VB I-VP +the DT B-NP +tax NN I-NP +on IN B-PP +the DT B-NP +gain NN I-NP +from IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +assets NNS B-NP +. . O + +The DT B-NP +plan NN I-NP +was VBD B-VP +complete JJ B-ADJP +except IN B-PP +for IN B-PP +finishing VBG B-NP +touches NNS I-NP +, , O +and CC O +there EX B-NP +was VBD B-VP +talk VB B-NP +that IN B-SBAR +it PRP B-NP +would MD B-VP +be VB I-VP +unveiled VBN I-VP +as RB B-ADVP +early RB I-ADVP +as IN B-PP +yesterday NN B-NP +. . O + +But CC O +Senate NNP B-NP +Majority NNP I-NP +Leader NNP I-NP +George NNP I-NP +Mitchell NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Maine NNP B-NP +-RRB- ) O +, , O +a DT B-NP +vigorous JJ I-NP +opponent NN I-NP +of IN B-PP +the DT B-NP +capital-gains NNS I-NP +tax VBP I-NP +cut VB I-NP +, , O +called VBD B-VP +the DT B-NP +group NN I-NP +to TO B-VP +meet VB I-VP +with IN B-PP +him PRP B-NP +Wednesday NNP B-NP +night NN I-NP +and CC O +again RB B-ADVP +yesterday NN B-NP +. . O + +Sen. NNP B-NP +Mitchell NNP I-NP +urged VBD B-VP +them PRP B-NP +to TO B-VP +desist VB I-VP +. . O + +Afterward RB B-ADVP +, , O +leaders NNS B-NP +of IN B-PP +the DT B-NP +dissident JJ I-NP +Democrats NNPS I-NP +relented VBD B-VP +, , O +and CC O +said VBD B-VP +they PRP B-NP +would MD B-VP +n't RB I-VP +offer VB I-VP +their PRP$ B-NP +own JJ I-NP +proposal NN I-NP +as IN B-SBAR +they PRP B-NP +had VBD B-VP +planned VBN I-VP +. . O + +The DT B-NP +decision NN I-NP +is VBZ B-VP +a DT B-NP +setback NN I-NP +for IN B-PP +President NNP B-NP +Bush NNP I-NP +, , O +who WP B-NP +needs VBZ B-VP +the DT B-NP +support NN I-NP +of IN B-PP +Democrats NNPS B-NP +to TO B-VP +pass VB I-VP +the DT B-NP +tax NN I-NP +cut NN I-NP +through IN B-PP +the DT B-NP +Democratic-controlled JJ I-NP +Senate NNP I-NP +. . O + +Having VBG B-VP +a DT B-NP +proposal NN I-NP +sponsored VBN B-VP +by IN B-PP +Democrats NNPS B-NP +would MD B-VP +have VB I-VP +given VBN I-VP +the DT B-NP +president NN I-NP +an DT B-NP +advantage NN I-NP +. . O + +Having VBG B-VP +only RB B-NP +a DT I-NP +Republican NNP I-NP +measure NN I-NP +makes VBZ B-VP +the DT B-NP +task NN I-NP +harder JJR B-ADJP +. . O + +Still RB B-ADVP +, , O +Sen. NNP B-NP +Bob NNP I-NP +Packwood NNP I-NP +-LRB- ( O +R. NNP B-NP +, , O +Ore. NNP B-NP +-RRB- ) O +, , O +the DT B-NP +lead NN I-NP +sponsor NN I-NP +of IN B-PP +the DT B-NP +Republican NNP I-NP +capital-gains NNS I-NP +amendment NN I-NP +, , O +predicted VBD B-VP +that IN B-SBAR +the DT B-NP +tax NN I-NP +cut NN I-NP +would MD B-VP +be VB I-VP +enacted VBN I-VP +this DT B-NP +year NN I-NP +. . O + +He PRP B-NP +said VBD B-VP +a DT B-NP +clear JJ I-NP +majority NN I-NP +of IN B-PP +senators NNS B-NP +back RB B-VP +the DT B-NP +tax NN I-NP +reduction NN I-NP +and CC O +that IN B-SBAR +ultimately RB B-ADVP +there EX B-NP +would MD B-VP +be VB I-VP +enough JJ B-NP +senators NNS I-NP +to TO B-VP +overcome VB I-VP +any DT B-NP +procedural JJ I-NP +hurdle NN I-NP +the DT B-NP +Democratic JJ I-NP +leadership NN I-NP +might MD B-VP +erect VB I-VP +. . O + +But CC O +Sen. NNP B-NP +Mitchell NNP I-NP +, , O +buoyed VBN B-VP +by IN B-PP +his PRP$ B-NP +victory NN I-NP +among IN B-PP +fellow NN B-NP +Democrats NNPS I-NP +, , O +strongly RB B-ADVP +disagreed VBD B-VP +. . O + +Mr. NNP B-NP +Mitchell NNP I-NP +has VBZ B-VP +been VBN I-VP +predicting VBG I-VP +that IN B-SBAR +the DT B-NP +president NN I-NP +'s POS B-NP +initiative NN I-NP +would MD B-VP +fail VB I-VP +this DT B-NP +year NN I-NP +. . O + +Yesterday NN B-NP +, , O +in IN B-PP +an DT B-NP +interview NN I-NP +, , O +he PRP B-NP +added VBD B-VP +that IN B-SBAR +the DT B-NP +Democrats NNPS I-NP +' POS B-NP +decision NN I-NP +`` `` O +increases VBZ B-VP +the DT B-NP +likelihood NN I-NP +that IN B-SBAR +a DT B-NP +capital-gains NNS I-NP +tax VBP I-NP +cut VB I-NP +will MD B-VP +not RB I-VP +pass VB I-VP +this DT B-NP +year NN I-NP +. . O +'' '' O + +Mr. NNP B-NP +Mitchell NNP I-NP +'s POS B-NP +first JJ I-NP +victory NN I-NP +came VBD B-VP +last JJ B-NP +week NN I-NP +, , O +when WRB B-ADVP +the DT B-NP +Senate NNP I-NP +passed VBD B-VP +a DT B-NP +deficit-reduction NN I-NP +bill NN I-NP +that WDT B-NP +did VBD B-VP +n't RB I-VP +contain VB I-VP +a DT B-NP +capital-gains NNS I-NP +provision NN I-NP +. . O + +That DT B-NP +vote NN I-NP +made VBD B-VP +it PRP B-NP +unlikely JJ B-ADJP +that IN B-SBAR +a DT B-NP +capital-gains NNS I-NP +tax VBP I-NP +cut VB I-NP +would MD B-VP +be VB I-VP +included VBN I-VP +in IN B-PP +the DT B-NP +final JJ I-NP +bill NN I-NP +, , O +now RB B-VP +being VBG I-VP +drafted VBN I-VP +by IN B-PP +House NNP B-NP +and CC I-NP +Senate NNP I-NP +negotiators NNS I-NP +. . O + +The DT B-NP +House NNP I-NP +version NN I-NP +of IN B-PP +the DT B-NP +bill NN I-NP +does VBZ B-VP +include VBP I-VP +the DT B-NP +tax NN I-NP +cut NN I-NP +. . O + +Now RB B-ADVP +Republican NNP B-NP +leaders NNS I-NP +are VBP B-VP +concentrating VBG I-VP +on IN B-PP +attaching VBG B-VP +a DT B-NP +capital-gains NNS I-NP +amendment NN I-NP +to TO B-PP +some DT B-NP +other JJ I-NP +bill NN I-NP +, , O +perhaps RB B-ADVP +a DT B-NP +measure NN I-NP +raising VBG B-VP +the DT B-NP +federal JJ I-NP +borrowing NN I-NP +limit NN I-NP +or CC O +a DT B-NP +second JJ I-NP +tax NN I-NP +bill NN I-NP +that WDT B-NP +would MD B-VP +follow VB I-VP +on IN B-PP +the DT B-NP +heels NNS I-NP +of IN B-PP +the DT B-NP +deficit-reduction NN I-NP +legislation NN I-NP +. . O + +To TO B-VP +help VB I-VP +lay VBD I-VP +the DT B-NP +groundwork NN I-NP +for IN B-PP +that DT B-NP +fight NN I-NP +, , O +President NNP B-NP +Bush NNP I-NP +plans VBZ B-VP +early JJ B-NP +next JJ I-NP +week NN I-NP +to TO B-VP +meet VB I-VP +at IN B-PP +the DT B-NP +White NNP I-NP +House NNP I-NP +with IN B-PP +some DT B-NP +20 CD I-NP +Democratic JJ I-NP +senators NNS I-NP +who WP B-NP +favor VBP B-VP +cutting VBG I-VP +the DT B-NP +capital-gains NNS I-NP +tax VBP I-NP +or CC O +are VBP B-VP +undecided JJ B-ADJP +on IN B-PP +the DT B-NP +issue NN I-NP +. . O + +The DT B-NP +president NN I-NP +apparently RB B-ADVP +will MD B-VP +have VB I-VP +only RB B-NP +one CD I-NP +bill NN I-NP +to TO B-VP +push VB I-VP +, , O +Sen. NNP B-NP +Packwood NNP I-NP +'s POS B-NP +, , O +and CC O +at IN B-ADVP +least JJS I-ADVP +some DT B-NP +of IN B-PP +the DT B-NP +dissident JJ I-NP +Democrats NNPS I-NP +plan NN B-VP +to TO I-VP +support VB I-VP +it PRP B-NP +. . O + +`` `` O +I PRP B-NP +may MD B-VP +want VB I-VP +to TO I-VP +offer VB I-VP +additional JJ B-NP +amendments NNS I-NP +to TO B-VP +improve VB I-VP +it PRP B-NP +when WRB B-ADVP +the DT B-NP +bill NN I-NP +comes VBZ B-VP +to TO B-PP +the DT B-NP +floor NN I-NP +, , O +'' '' O +said VBD B-VP +Sen. NNP B-NP +David NNP I-NP +Boren NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Okla. NNP B-NP +-RRB- ) O +, , O +a DT B-NP +leader NN I-NP +of IN B-PP +those DT B-NP +Democrats NNPS I-NP +. . O + +The DT B-NP +Packwood NNP I-NP +plan NN I-NP +, , O +as IN B-SBAR +expected VBN B-VP +, , O +would MD B-VP +allow VB I-VP +individuals NNS B-NP +to TO B-VP +exclude VB I-VP +from IN B-PP +income NN B-NP +5 NN B-NP +% NN I-NP +of IN B-PP +the DT B-NP +gain NN I-NP +from IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +a DT B-NP +capital NN I-NP +asset NN I-NP +held VBN B-VP +for IN B-PP +more JJR B-NP +than IN I-NP +one CD I-NP +year NN I-NP +. . O + +The DT B-NP +exclusion NN I-NP +would MD B-VP +rise VB I-VP +five CD B-NP +percentage NN I-NP +points NNS I-NP +for IN B-PP +each DT B-NP +year NN I-NP +the DT B-NP +asset NN I-NP +was VBD B-VP +held VBN I-VP +, , O +until IN B-SBAR +it PRP B-NP +reached VBD B-VP +a DT B-NP +maximum NN I-NP +of IN B-PP +35 CD B-NP +% NN I-NP +after IN B-PP +seven CD B-NP +years NNS I-NP +. . O + +The DT B-NP +exclusion NN I-NP +would MD B-VP +apply VB I-VP +to TO B-PP +assets NNS B-NP +sold VBN B-VP +after IN B-PP +Oct. NNP B-NP +1 CD I-NP +. . O + +As IN B-PP +an DT B-NP +alternative NN I-NP +, , O +taxpayers NNS B-NP +could MD B-VP +chose VBD I-VP +to TO I-VP +reduce VB I-VP +their PRP$ B-NP +gains NNS I-NP +by IN B-PP +an DT B-NP +inflation NN I-NP +index NN I-NP +. . O + +For IN B-PP +corporations NNS B-NP +, , O +the DT B-NP +top JJ I-NP +tax NN I-NP +rate NN I-NP +on IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +assets NNS B-NP +held VBN B-VP +for IN B-PP +more JJR B-NP +than IN I-NP +three CD I-NP +years NNS I-NP +would MD B-VP +be VB I-VP +cut VBN I-VP +to TO B-PP +33 CD B-NP +% NN I-NP +from IN B-PP +the DT B-NP +current JJ I-NP +top JJ I-NP +rate NN I-NP +of IN B-PP +34 CD B-NP +% NN I-NP +. . O + +That DT B-NP +rate NN I-NP +would MD B-VP +gradually RB I-VP +decline VB I-VP +to TO B-PP +as RB B-NP +little JJ I-NP +as IN I-NP +29 CD I-NP +% NN I-NP +for IN B-PP +corporate JJ B-NP +assets NNS I-NP +held VBN B-VP +for IN B-PP +15 CD B-NP +years NNS I-NP +. . O + +The DT B-NP +Packwood NNP I-NP +plan NN I-NP +also RB B-ADVP +would MD B-VP +include VB I-VP +a DT B-NP +proposal NN I-NP +, , O +designed VBN B-VP +by IN B-PP +Sen. NNP B-NP +William NNP I-NP +Roth NNP I-NP +-LRB- ( O +R. NNP B-NP +, , O +Del. NNP B-NP +-RRB- ) O +, , O +that WDT B-NP +would MD B-VP +create VB I-VP +new JJ B-NP +tax NN I-NP +benefits NNS I-NP +for IN B-PP +individual JJ B-NP +retirement NN I-NP +accounts NNS I-NP +. . O + +The DT B-NP +Roth NNP I-NP +plan NN I-NP +would MD B-VP +create VB I-VP +a DT B-NP +new JJ I-NP +, , I-NP +non-deductible JJ I-NP +IRA NNP I-NP +from IN B-PP +which WDT B-NP +money NN B-NP +could MD B-VP +be VB I-VP +withdrawn VBN I-VP +tax-free JJ B-ADVP +not RB B-CONJP +only RB O +for IN B-PP +retirement NN B-NP +, , O +but CC B-CONJP +also RB I-CONJP +for IN B-PP +the DT B-NP +purchase NN I-NP +of IN B-PP +a DT B-NP +first JJ I-NP +home NN I-NP +, , O +education NN B-NP +expenses NNS I-NP +and CC O +medical JJ B-NP +expenses NNS I-NP +. . O + +Current JJ B-NP +IRAs NNS I-NP +could MD B-VP +be VB I-VP +rolled VBN I-VP +over IN B-PRT +into IN B-PP +the DT B-NP +new JJ I-NP +IRAs NNS I-NP +, , O +but CC O +would MD B-VP +be VB I-VP +subject NN B-ADJP +to TO B-PP +tax VB B-NP +though IN B-PP +no DT B-NP +penalty NN I-NP +. . O + +Westmoreland NNP B-NP +Coal NNP I-NP +Co. NNP I-NP +, , O +realizing VBG B-VP +benefits NNS B-NP +of IN B-PP +a DT B-NP +sustained VBN I-NP +effort NN I-NP +to TO B-VP +cut VB I-VP +costs NNS B-NP +and CC O +boost VB B-VP +productivity NN B-NP +, , O +reported VBD B-VP +sharply RB B-NP +improved VBN I-NP +third-quarter JJ I-NP +results NNS I-NP +. . O + +The DT B-NP +producer NN I-NP +and CC I-NP +marketer NN I-NP +of IN B-PP +low-sulfur JJ B-NP +coal NN I-NP +said VBD B-VP +net JJ B-NP +income NN I-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +was VBD B-VP +$ $ B-NP +5.9 CD I-NP +million CD I-NP +, , O +or CC O +71 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +revenue NN B-NP +of IN B-PP +$ $ B-NP +145.4 CD I-NP +million CD I-NP +. . O + +For IN B-PP +the DT B-NP +year-earlier JJ I-NP +period NN I-NP +, , O +the DT B-NP +company NN I-NP +reported VBD B-VP +a DT B-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +520,000 CD I-NP +or CC O +six CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +In IN B-PP +the DT B-NP +latest JJS I-NP +nine CD I-NP +months NNS I-NP +, , O +the DT B-NP +company NN I-NP +earned VBD B-VP +$ $ B-NP +8.5 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.03 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Last JJ B-NP +year NN I-NP +'s POS B-NP +net JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +3,524,000 CD I-NP +included VBD B-VP +a DT B-NP +benefit NN I-NP +of IN B-PP +$ $ B-NP +1,640,000 CD I-NP +from IN B-PP +an DT B-NP +accounting NN I-NP +change NN I-NP +. . O + +Revenue NN B-NP +for IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +449 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +441.1 CD I-NP +million CD I-NP +. . O + +In IN B-PP +an DT B-NP +interview NN I-NP +, , O +Pemberton NNP B-NP +Hutchinson NNP I-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +executive NN I-NP +, , O +cited VBD B-VP +several JJ B-NP +reasons NNS I-NP +for IN B-PP +the DT B-NP +improvement NN I-NP +: : O +higher JJR B-NP +employee NN I-NP +productivity NN I-NP +and CC O +`` `` B-NP +good JJ I-NP +natural JJ I-NP +conditions NNS I-NP +'' '' O +in IN B-PP +the DT B-NP +mines NNS I-NP +, , O +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +lower JJR B-NP +costs NNS I-NP +for IN B-PP +materials NNS B-NP +, , O +administrative JJ B-NP +overhead NN I-NP +and CC O +debt NN B-NP +interest NN I-NP +. . O + +In IN B-PP +the DT B-NP +latest JJS I-NP +nine CD I-NP +months NNS I-NP +, , O +Mr. NNP B-NP +Hutchinson NNP I-NP +said VBD B-VP +, , O +total JJ B-NP +coal NN I-NP +sales NNS I-NP +rose VBD B-VP +to TO B-PP +about IN B-NP +14.6 CD I-NP +million CD I-NP +tons NNS I-NP +from IN B-PP +about IN B-NP +14.3 CD I-NP +million CD I-NP +tons NNS I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +In IN B-PP +addition NN B-NP +, , O +long-term JJ B-NP +debt NN I-NP +has VBZ B-VP +been VBN I-VP +trimmed VBN O +to TO B-PP +about RB B-NP +$ $ I-NP +72 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +96 CD I-NP +million CD I-NP +since IN B-PP +Jan. NNP B-NP +1 CD I-NP +. . O + +He PRP B-NP +predicted VBD B-VP +the DT B-NP +debt NN I-NP +ratio NN I-NP +will MD B-VP +improve VB I-VP +further JJ B-ADVP +in IN B-PP +coming VBG B-NP +quarters NNS I-NP +. . O + +Westmoreland NNP B-NP +'s POS B-NP +strategy NN I-NP +is VBZ B-VP +to TO B-VP +retain VB I-VP +and CC I-VP +expand VB I-VP +its PRP$ B-NP +core NN I-NP +business NN I-NP +of IN B-PP +mining NN B-VP +and CC I-VP +selling VBG I-VP +low-sulphur JJ B-NP +coal NN I-NP +in IN B-PP +the DT B-NP +Appalachia NNP I-NP +region NN I-NP +. . O + +The DT B-NP +operating VBG I-NP +territory NN I-NP +includes VBZ B-VP +coal NN B-NP +terminals NNS I-NP +on IN B-PP +the DT B-NP +Ohio NNP I-NP +River NNP I-NP +and CC B-PP +in IN B-PP +Newport NNP B-NP +News NNP I-NP +, , O +Va NNP B-NP +. . O + +Westmoreland NNP B-NP +exports NNS B-VP +about IN B-NP +a DT I-NP +fourth JJ I-NP +of IN B-PP +its PRP$ B-NP +coal NN I-NP +tonnage NN I-NP +, , O +including VBG B-PP +a DT B-NP +significant JJ I-NP +amount NN I-NP +of IN B-PP +metallurgical JJ B-NP +coal NN I-NP +produced VBN B-VP +by IN B-PP +others NNS B-NP +that WDT B-NP +is VBZ B-VP +used VBN I-VP +by IN B-PP +steelmakers NNS B-NP +overseas JJ B-ADVP +. . O + +For IN B-PP +the DT B-NP +past JJ I-NP +couple NN I-NP +of IN B-PP +years NNS B-NP +, , O +Westmoreland NNP B-NP +has VBZ B-VP +undertaken VBN I-VP +an DT B-NP +aggressive JJ I-NP +streamlining NN I-NP +of IN B-PP +all DT B-NP +aspects NNS I-NP +of IN B-PP +its PRP$ B-NP +business NN I-NP +. . O + +Marginal JJ B-NP +operations NNS I-NP +and CC O +assets NNS B-NP +have VBP B-VP +been VBN I-VP +sold VBN I-VP +. . O + +The DT B-NP +size NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +board NN I-NP +has VBZ B-VP +been VBN I-VP +reduced VBN I-VP +to TO B-PP +eight CD B-NP +directors NNS I-NP +from IN B-PP +13 CD B-NP +. . O + +About IN B-NP +140 CD I-NP +salaried JJ I-NP +management NN I-NP +jobs NNS I-NP +and CC O +hundreds NNS B-NP +of IN B-PP +hourly JJ B-NP +wage NN I-NP +positions NNS I-NP +have VBP B-VP +been VBN I-VP +eliminated VBN I-VP +. . O + +Even JJ B-NP +perks NNS I-NP +have VBP B-VP +been VBN I-VP +reduced VBN I-VP +. . O + +For IN B-PP +example NN B-NP +, , O +the DT B-NP +chief JJ I-NP +executive NN I-NP +himself PRP B-NP +now RB B-ADVP +pays VBZ B-VP +20 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +cost NN I-NP +of IN B-PP +his PRP$ B-NP +health NN I-NP +benefits NNS I-NP +; : O +the DT B-NP +company NN I-NP +used VBN B-VP +to TO I-VP +pay VB I-VP +100 CD B-NP +% NN I-NP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +the DT B-NP +ship NN I-NP +is VBZ B-VP +now RB I-VP +righted VBN I-VP +, , O +the DT B-NP +bilges NNS I-NP +are VBP B-VP +pumped VBN I-VP +and CC O +we PRP B-NP +are VBP B-VP +on IN B-PP +course NN B-NP +, , O +'' '' O +Mr. NNP B-NP +Hutchinson NNP I-NP +said VBD B-VP +of IN B-PP +the DT B-NP +restructuring NN I-NP +program NN I-NP +. . O + +`` `` O +Much RB B-NP +of IN B-PP +what WP B-NP +we PRP B-NP +set VBD B-VP +out IN B-PRT +to TO B-VP +do VB I-VP +is VBZ B-VP +completed VBN I-VP +. . O +'' '' O + +But CC O +he PRP B-NP +cautioned VBD B-VP +that IN O +Westmoreland NNP B-NP +'s POS B-NP +third JJ I-NP +quarter NN I-NP +is VBZ B-VP +typically RB B-ADVP +better JJR B-ADJP +than IN B-PP +the DT B-NP +fourth JJ I-NP +, , O +so RB O +investors NNS B-NP +`` `` O +should MD B-VP +n't RB I-VP +just RB I-VP +multiply VB I-VP +the DT B-NP +third JJ I-NP +quarter NN I-NP +by IN B-PP +four CD B-NP +'' '' O +and CC O +assume VB B-VP +the DT B-NP +same JJ I-NP +rate NN I-NP +of IN B-PP +improvement NN B-NP +can MD B-VP +be VB I-VP +sustained VBN I-VP +. . O + +One CD B-NP +difference NN I-NP +, , O +he PRP B-NP +said VBD B-VP +, , O +is VBZ B-VP +that IN B-SBAR +the DT B-NP +fourth JJ I-NP +quarter NN I-NP +has VBZ B-VP +significantly RB B-NP +fewer JJR I-NP +workdays NNS I-NP +because IN B-PP +of IN I-PP +holidays NNS B-NP +and CC O +the DT B-NP +hunting NN I-NP +season NN I-NP +. . O + +`` `` O +I PRP B-NP +do VBP B-VP +n't RB I-VP +want VB I-VP +to TO I-VP +give VB I-VP +the DT B-NP +impression NN I-NP +that DT B-SBAR +everybody NN B-NP +can MD B-VP +relax VB I-VP +now RB B-ADVP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +`` `` O +We PRP B-NP +have VBP B-VP +to TO I-VP +keep VB I-VP +working VBG I-VP +at IN B-PP +improving VBG B-VP +our PRP$ B-NP +core NN I-NP +business NN I-NP +to TO B-VP +stay VB I-VP +efficient JJ B-ADJP +. . O + +It PRP B-NP +'s VBZ B-VP +a DT B-NP +process NN I-NP +that IN B-NP +never RB B-ADVP +really RB B-ADVP +ends VBZ B-VP +. . O +'' '' O + +Nevertheless RB B-ADVP +, , O +Mr. NNP B-NP +Hutchinson NNP I-NP +predicted VBD B-VP +that IN B-SBAR +1989 CD B-NP +would MD B-VP +be VB I-VP +`` `` O +solidly RB B-ADJP +profitable JJ I-ADJP +'' '' O +for IN B-PP +Westmoreland NNP B-NP +and CC O +that IN O +1990 CD B-NP +would MD B-VP +bring VB I-VP +`` `` O +more JJR B-NP +of IN B-PP +the DT B-NP +same JJ I-NP +. . O +'' '' O + +For IN B-PP +all DT B-NP +of IN B-PP +1988 CD B-NP +, , O +the DT B-NP +company NN I-NP +reported VBD B-VP +an DT B-NP +after-tax JJ I-NP +operating NN I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +134,000 CD I-NP +on IN B-PP +revenue NN B-NP +of IN B-PP +$ $ B-NP +593.5 CD I-NP +million CD I-NP +. . O + +An DT B-NP +accounting NN I-NP +adjustment NN I-NP +made VBD B-VP +net JJ B-NP +income NN I-NP +$ $ B-NP +1.5 CD I-NP +million CD I-NP +, , O +or CC O +18 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +In IN B-PP +a DT B-NP +move NN I-NP +that WDT B-NP +complements VBZ B-VP +the DT B-NP +company NN I-NP +'s POS B-NP +basic JJ I-NP +strategy NN I-NP +, , O +its PRP$ B-NP +Westmoreland NNP I-NP +Energy NNP I-NP +Inc. NNP I-NP +unit NN I-NP +is VBZ B-VP +developing VBG I-VP +four CD B-NP +coal-fired JJ I-NP +cogeneration NN I-NP +plants NNS I-NP +with IN B-PP +a DT B-NP +partner NN I-NP +in IN B-PP +Virginia NNP B-NP +. . O + +Some DT B-NP +of IN B-PP +the DT B-NP +coal NN I-NP +the DT B-NP +plants NNS I-NP +buy VBP B-VP +will MD B-VP +come VB I-VP +from IN B-PP +Westmoreland NNP B-NP +mines NNS I-NP +. . O + +Mr. NNP B-NP +Hutchinson NNP I-NP +predicted VBD B-VP +that IN B-SBAR +the DT B-NP +unit NN I-NP +'s POS B-NP +contribution NN I-NP +to TO B-PP +company NN B-NP +results NNS I-NP +in IN B-PP +the DT B-NP +1990s CD I-NP +`` `` O +will MD B-VP +be VB I-VP +exciting JJ B-ADJP +. . O +'' '' O + +He PRP B-NP +said VBD B-VP +Westmoreland NNP B-NP +is VBZ B-VP +looking VBG I-VP +at IN B-PP +investment NN B-NP +stakes NNS I-NP +in IN B-PP +other JJ B-NP +cogeneration NN I-NP +plants NNS I-NP +east NN B-ADJP +of IN B-PP +the DT B-NP +Mississippi NNP I-NP +River NNP I-NP +. . O + +Westmoreland NNP B-NP +expects VBZ B-VP +energy NN B-NP +demand NN I-NP +to TO B-VP +grow VB I-VP +annually RB B-ADVP +in IN B-PP +the DT B-NP +2.5 CD I-NP +% NN I-NP +range NN I-NP +in IN B-PP +the DT B-NP +early JJ I-NP +1990s CD I-NP +. . O + +`` `` O +We PRP B-NP +see VBP B-VP +coal NN B-NP +'s POS B-NP +piece NN I-NP +of IN B-PP +the DT B-NP +action NN I-NP +growing VBG B-VP +, , O +'' '' O +Mr. NNP B-NP +Hutchinson NNP I-NP +said VBD B-VP +. . O + +`` `` O +Coal NNP B-NP +prices NNS I-NP +, , O +while IN B-SBAR +not RB O +skyrocketing VBG B-VP +, , O +will MD B-VP +grow VB I-VP +modestly RB B-ADVP +in IN B-PP +real JJ B-NP +terms NNS I-NP +, , O +we PRP B-NP +think VBP B-VP +. . O + +Chase NNP B-NP +Manhattan NNP I-NP +Corp. NNP I-NP +, , O +after IN B-PP +trying VBG B-VP +unsuccessfully RB I-VP +to TO I-VP +sell VB I-VP +its PRP$ B-NP +interest NN I-NP +in IN B-PP +its PRP$ B-NP +lower JJR I-NP +Manhattan NNP I-NP +operations NNS I-NP +building NN I-NP +, , O +has VBZ B-VP +exercised VBN I-VP +its PRP$ B-NP +option NN I-NP +to TO B-VP +purchase VB I-VP +the DT B-NP +50-story JJ I-NP +office NN I-NP +tower NN I-NP +. . O + +Chase NNP B-NP +had VBD B-VP +purchased VBN I-VP +an DT B-NP +option NN I-NP +to TO B-VP +buy VB I-VP +the DT B-NP +building NN I-NP +at IN B-PP +One CD B-NP +New NNP I-NP +York NNP I-NP +Plaza NNP I-NP +for IN B-PP +an DT B-NP +undisclosed JJ I-NP +sum NN I-NP +from IN B-PP +the DT B-NP +late JJ I-NP +Sol NNP I-NP +Atlas NNP I-NP +as IN B-PP +part NN B-NP +of IN B-PP +its PRP$ B-NP +original JJ I-NP +lease NN I-NP +in IN B-PP +1970 CD B-NP +. . O + +The DT B-NP +current JJ I-NP +transaction NN I-NP +cost NN B-VP +the DT B-NP +bank NN I-NP +approximately RB B-NP +$ $ I-NP +140 CD I-NP +million CD I-NP +. . O + +Of IN B-PP +that DT B-NP +amount NN I-NP +, , O +$ $ B-NP +20 CD I-NP +million CD I-NP +was VBD B-VP +payment NN B-NP +for IN B-PP +the DT B-NP +land NN I-NP +underneath IN B-PP +the DT B-NP +building NN I-NP +and CC O +the DT B-NP +rest NN I-NP +was VBD B-VP +for IN B-PP +the DT B-NP +building NN I-NP +itself PRP B-NP +. . O + +The DT B-NP +building NN I-NP +houses NNS B-VP +about IN B-NP +4,500 CD I-NP +Chase NNP I-NP +workers NNS I-NP +, , O +most RBS B-NP +of IN B-PP +whom WP B-NP +will MD B-VP +be VB I-VP +moved VBN I-VP +to TO B-PP +downtown NN B-NP +Brooklyn NNP I-NP +after IN B-SBAR +the DT B-NP +bank NN I-NP +'s POS B-NP +new JJ I-NP +back JJ I-NP +office NN I-NP +center NN I-NP +is VBZ B-VP +completed VBN I-VP +in IN B-PP +1993 CD B-NP +. . O + +The DT B-NP +move NN I-NP +is VBZ B-VP +part NN B-NP +of IN B-PP +Chase NNP B-NP +'s POS B-NP +strategy NN I-NP +to TO B-VP +consolidate VB I-VP +its PRP$ B-NP +back JJ I-NP +offices NNS I-NP +under IN B-PP +one CD B-NP +roof NN I-NP +. . O + +The DT B-NP +headquarters NN I-NP +is VBZ B-VP +located VBN I-VP +a DT B-NP +few JJ I-NP +blocks NNS I-NP +away RB B-ADVP +at IN B-PP +1 CD B-NP +Chase NNP I-NP +Manhattan NNP I-NP +Plaza NNP I-NP +. . O + +As IN B-PP +part NN B-NP +of IN B-PP +its PRP$ B-NP +decision NN I-NP +to TO B-VP +leave VB I-VP +the DT B-NP +building NN I-NP +, , O +Chase NNP B-NP +tried VBD B-VP +to TO I-VP +sell VB I-VP +its PRP$ B-NP +interest NN I-NP +, , O +along IN B-ADVP +with IN B-PP +the DT B-NP +Atlas NNP I-NP +estate NN I-NP +'s POS B-NP +interest NN I-NP +, , O +shortly RB B-ADVP +after IN B-PP +the DT B-NP +October NNP I-NP +1987 CD I-NP +stock NN I-NP +market NN I-NP +crash NN I-NP +. . O + +Chase NNP B-NP +Senior NNP I-NP +Vice NNP I-NP +President NNP I-NP +George NNP I-NP +Scandalios NNP I-NP +said VBD B-VP +the DT B-NP +bank NN I-NP +decided VBD B-VP +to TO I-VP +exercise VB I-VP +its PRP$ B-NP +option NN I-NP +after IN B-SBAR +bids NNS B-NP +fell VBD B-VP +short NN B-ADVP +of IN B-PP +expectations NNS B-NP +. . O + +He PRP B-NP +said VBD B-VP +Chase NNP B-NP +and CC O +the DT B-NP +Atlas NNP I-NP +estate NN I-NP +were VBD B-VP +looking VBG I-VP +to TO I-VP +sell VB I-VP +the DT B-NP +entire JJ I-NP +building NN I-NP +for IN B-PP +$ $ B-NP +400 CD I-NP +million CD I-NP +to TO I-NP +$ $ I-NP +475 CD I-NP +million CD I-NP +, , O +but CC O +did VBD B-VP +n't RB I-VP +get VB I-VP +an DT B-NP +offer NN I-NP +for IN B-PP +more JJR B-NP +than IN I-NP +$ $ I-NP +375 CD I-NP +million CD I-NP +. . O + +As IN B-PP +the DT B-NP +building NN I-NP +'s POS B-NP +new JJ I-NP +owner NN I-NP +, , O +Chase NNP B-NP +will MD B-VP +have VB I-VP +its PRP$ B-NP +work NN I-NP +cut NN B-VP +out IN B-PRT +for IN B-PP +it PRP B-NP +. . O + +Chase NNP B-NP +is VBZ B-VP +vacating VBG I-VP +1.1 CD B-NP +million CD I-NP +square NN I-NP +feet NNS I-NP +of IN B-PP +space NN B-NP +, , O +and CC O +Salomon NNP B-NP +Brothers NNP I-NP +Inc. NNP I-NP +, , O +whose WP$ B-NP +headquarters NN I-NP +is VBZ B-VP +in IN B-PP +the DT B-NP +building NN I-NP +, , O +also RB B-ADVP +plans VBZ B-VP +to TO I-VP +move VB I-VP +shortly RB B-ADVP +. . O + +In IN B-PP +addition NN B-NP +, , O +another DT B-NP +major JJ I-NP +building NN I-NP +tenant NN I-NP +, , O +Thomson NNP B-NP +McKinnon NNP I-NP +Inc. NNP I-NP +'s POS B-NP +Thomson NNP I-NP +McKinnon NNP I-NP +Securities NNPS I-NP +, , O +likely JJ B-ADVP +will MD B-VP +vacate VB I-VP +the DT B-NP +premises NNS I-NP +as IN B-PP +part NN B-NP +of IN B-PP +its PRP$ B-NP +liquidation NN I-NP +. . O + +New NNP B-NP +York NNP I-NP +real JJ I-NP +estate NN I-NP +brokerage NN I-NP +Edward NNP I-NP +S. NNP I-NP +Gordon NNP I-NP +Co. NNP I-NP +will MD B-VP +have VB I-VP +the DT B-NP +difficult JJ I-NP +task NN I-NP +of IN B-PP +finding VBG B-VP +new JJ B-NP +tenants NNS I-NP +. . O + +Even RB B-ADVP +with IN B-PP +its PRP$ B-NP +striking JJ I-NP +views NNS I-NP +of IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +harbor NN I-NP +, , O +the DT B-NP +building NN I-NP +is VBZ B-VP +considered VBN I-VP +antiquated JJ B-ADJP +by IN B-PP +modern JJ B-NP +office NN I-NP +standards NNS I-NP +. . O + +And CC O +Chase NNP B-NP +will MD B-VP +have VB I-VP +to TO I-VP +spend VB I-VP +approximately RB B-NP +$ $ I-NP +50 CD I-NP +million CD I-NP +to TO B-VP +remove VB I-VP +asbestos NN B-NP +from IN B-PP +the DT B-NP +premises NNS I-NP +. . O + +WALL NNP B-NP +STREET NNP I-NP +, , O +SHAKE VB B-VP +hands NNS B-NP +with IN B-PP +George NNP B-NP +Orwell NNP I-NP +. . O + +The DT B-NP +author NN I-NP +of IN B-PP +the DT B-NP +futuristic JJ I-NP +novel NN I-NP +`` `` I-NP +1984 CD I-NP +'' '' O +invented VBN B-VP +a DT B-NP +language NN I-NP +called VBN B-VP +Newspeak NNP B-NP +that WDT B-NP +made VBD B-VP +it PRP B-NP +impossible JJ B-ADJP +to TO B-VP +fully RB I-VP +develop VB I-VP +a DT B-NP +heretical JJ I-NP +thought VBD I-NP +-- : O +that DT B-NP +is VBZ B-VP +, , O +anything NN B-NP +negative JJ B-ADJP +about IN B-PP +the DT B-NP +policies NNS I-NP +and CC I-NP +practices NNS I-NP +of IN B-PP +the DT B-NP +state NN I-NP +. . O + +Wall NNP B-NP +Street NNP I-NP +has VBZ B-VP +n't RB I-VP +gotten VBN I-VP +that IN B-ADVP +far RB I-ADVP +yet RB B-ADVP +, , O +but CC O +it PRP B-NP +has VBZ B-VP +made VBN I-VP +a DT B-NP +promising JJ I-NP +start NN I-NP +. . O + +Its PRP$ B-NP +language NN I-NP +-- : O +call VB B-VP +it PRP B-NP +Streetspeak NNP B-NP +-- : O +is VBZ B-VP +increasingly RB B-ADVP +mellifluous JJ B-ADJP +, , O +reassuring VBG B-ADJP +, , O +and CC O +designed VBD B-VP +to TO I-VP +make VB I-VP +financial JJ B-NP +products NNS I-NP +and CC I-NP +maneuvers NNS I-NP +appear VBP B-VP +better JJR B-ADJP +, , I-ADJP +safer JJR I-ADJP +or CC I-ADJP +cheaper JJR I-ADJP +than IN B-SBAR +they PRP B-NP +really RB B-ADVP +are VBP B-VP +. . O + +When WRB B-ADVP +something NN B-NP +undeniably RB B-ADJP +nasty JJ I-ADJP +happens VBZ B-VP +, , O +a DT B-NP +few JJ I-NP +euphemisms NNS I-NP +are VBP B-VP +deployed VBN I-VP +to TO B-VP +simply RB I-VP +make VB I-VP +it PRP B-NP +disappear VB B-VP +, , O +much JJ B-ADVP +as IN B-SBAR +a DT B-NP +fresh JJ I-NP +grave NN I-NP +may MD B-VP +be VB I-VP +covered VBN I-VP +by IN B-PP +a DT B-NP +blanket NN I-NP +of IN B-PP +flowers NNS B-NP +. . O + +For IN B-PP +example NN B-NP +, , O +we PRP B-NP +'ll MD B-VP +bet VB I-VP +you PRP B-NP +thought VBD B-VP +that IN B-SBAR +the DT B-NP +stock NN I-NP +market NN I-NP +crashed VBD B-VP +two CD B-NP +years NNS I-NP +ago RB B-ADVP +. . O + +Wrong JJ B-ADJP +. . O + +According VBG B-PP +to TO B-PP +some DT B-NP +of IN B-PP +the DT B-NP +grand JJ I-NP +panjandrums NNS I-NP +of IN B-PP +the DT B-NP +market NN I-NP +, , O +it PRP B-NP +never RB B-ADVP +happened VBD B-VP +. . O + +In IN B-PP +their PRP$ B-NP +lexicon NN I-NP +the DT B-NP +508-point JJ I-NP +collapse NN I-NP +in IN B-PP +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +on IN B-PP +Oct. NNP B-NP +19 CD I-NP +, , I-NP +1987 CD I-NP +, , O +was VBD B-VP +just RB B-NP +a DT I-NP +big JJ I-NP +blip NN I-NP +. . O + +Trotting VBG B-VP +out RP B-PRT +a DT B-NP +much-beloved JJ I-NP +Streetspeak NNP I-NP +term NN I-NP +, , O +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +Chairman NNP I-NP +John NNP I-NP +Phelan NNP I-NP +recently RB B-ADVP +declared VBD B-VP +that DT O +history NN B-NP +would MD B-VP +record VB I-VP +the DT B-NP +event NN I-NP +as IN B-PP +only RB B-NP +`` `` I-NP +a DT I-NP +major JJ I-NP +technical JJ I-NP +correction NN I-NP +. . O +'' '' O + +-LRB- ( O +Another DT B-NP +much-beloved JJ I-NP +saying NN I-NP +, , O +however RB B-ADVP +, , O +this DT B-NP +one CD I-NP +in IN B-PP +plain JJ B-NP +English NNP I-NP +, , O +holds VBZ B-VP +that IN B-SBAR +if IN B-SBAR +something NN B-NP +walks VBZ B-VP +like IN B-PP +a DT B-NP +duck NN I-NP +and CC O +quacks NNS B-VP +like IN B-PP +a DT B-NP +duck NN I-NP +, , O +it PRP B-NP +is VBZ B-VP +a DT B-NP +duck NN I-NP +. . O + +On IN B-PP +Oct. NNP B-NP +29 CD I-NP +, , I-NP +1929 CD I-NP +-- : O +a DT B-NP +date NN I-NP +historians NNS B-NP +stubbornly RB B-ADVP +insist VBP B-VP +on IN B-PP +associating VBG B-VP +with IN B-PP +the DT B-NP +dreaded VBN I-NP +C-word NN I-NP +-- : O +the DT B-NP +DJ NNP I-NP +industrials NNS I-NP +fell VBD B-VP +12.8 CD B-NP +% NN I-NP +. . O + +In IN B-PP +the DT B-NP +`` `` I-NP +technical JJ I-NP +correction NN I-NP +'' '' O +of IN B-PP +two CD B-NP +years NNS I-NP +ago RB B-ADVP +, , O +they PRP B-NP +lost VBD B-VP +a DT B-NP +whopping JJ I-NP +22.6 CD I-NP +% NN I-NP +. . O +-RRB- ) O + +Customers NNS B-NP +hear VBP B-VP +a DT B-NP +lot NN I-NP +of IN B-PP +this DT B-NP +stuff NN I-NP +from IN B-PP +people NNS B-NP +who WP B-NP +try VBP B-VP +to TO I-VP +sell VB I-VP +them PRP B-NP +stock VB B-NP +. . O + +These DT B-NP +people NNS I-NP +used VBN B-VP +to TO I-VP +be VB I-VP +called VBN I-VP +brokers NNS B-NP +, , O +but CC O +apparently RB B-ADVP +this DT B-NP +word NN I-NP +either DT O +is VBZ B-VP +not RB O +grandiose JJ B-ADJP +enough RB I-ADJP +or CC O +carries VBZ B-VP +too RB B-NP +many JJ I-NP +negative JJ I-NP +connotations NNS I-NP +from IN B-PP +the DT B-NP +aforementioned JJ I-NP +technical JJ I-NP +correction NN I-NP +, , O +when WRB B-ADVP +terrified VBN B-NP +customers NNS I-NP +could MD B-VP +n't RB I-VP +raise VB I-VP +brokers NNS B-NP +on IN B-PP +the DT B-NP +phone NN I-NP +. . O + +Either CC B-NP +way NN I-NP +, , O +the DT B-NP +word NN I-NP +`` `` I-NP +broker NN I-NP +'' '' O +is VBZ B-VP +clearly RB B-ADVP +out IN B-PP +of IN B-PP +favor NN B-NP +. . O + +Of IN B-PP +the DT B-NP +major JJ I-NP +New NNP I-NP +York-based JJ I-NP +securities NNS I-NP +firms NNS I-NP +, , O +only RB B-NP +Morgan NNP I-NP +Stanley NNP I-NP +& CC I-NP +Co. NNP I-NP +still RB B-ADVP +calls VBZ B-VP +its PRP$ B-NP +salespeople NN I-NP +brokers NNS B-NP +. . O + +At IN B-PP +Merrill NNP B-NP +Lynch NNP I-NP +& CC I-NP +Co. NNP I-NP +and CC O +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +Inc. NNP I-NP +, , O +they PRP B-NP +are VBP B-VP +`` `` O +financial JJ B-NP +consultants NNS I-NP +. . O +'' '' O + +At IN B-PP +Drexel NNP B-NP +Burnham NNP I-NP +Lambert NNP I-NP +Inc. NNP I-NP +, , O +Prudential NNP B-NP +Bache NNP I-NP +Securities NNPS I-NP +, , O +and CC O +Dean NNP B-NP +Witter NNP I-NP +Reynolds NNP I-NP +Inc. NNP I-NP +, , O +they PRP B-NP +are VBP B-VP +`` `` O +account NN B-NP +executives NNS I-NP +. . O +'' '' O + +At IN B-PP +PaineWebber NNP B-NP +Inc. NNP I-NP +, , O +they PRP B-NP +are VBP B-VP +`` `` O +investment NN B-NP +executives NNS I-NP +. . O +'' '' O + +Such JJ B-NP +titles NNS I-NP +are VBP B-VP +designed VBN I-VP +to TO I-VP +convey VB I-VP +a DT B-NP +sense NN I-NP +of IN B-PP +dignified VBN B-NP +, , I-NP +broad-scale JJ I-NP +competence NN I-NP +and CC I-NP +expertise NN I-NP +in IN B-PP +selling VBG B-VP +today NN B-NP +'s POS B-NP +myriad JJ I-NP +financial JJ I-NP +products NNS I-NP +. . O + +It PRP B-NP +is VBZ B-VP +a DT B-NP +competence NN I-NP +and CC I-NP +expertise NN I-NP +that IN B-NP +some DT B-NP +brokers NNS I-NP +themselves PRP B-NP +, , O +overwhelmed VBN B-VP +by IN B-PP +all PDT B-NP +the DT I-NP +new JJ I-NP +things NNS I-NP +being VBG B-VP +dreamed VBN I-VP +up IN B-PRT +for IN B-SBAR +them PRP B-NP +to TO B-VP +peddle VB I-VP +, , O +do VB B-VP +n't RB I-VP +feel VB I-VP +. . O + +`` `` O +It PRP B-NP +s PRP B-VP +almost JJ B-ADVP +product NN B-NP +de FW I-NP +jour FW I-NP +, , O +'' '' O +grouses VBZ B-VP +one CD B-NP +account NN I-NP +executive NN I-NP +at IN B-PP +Dean NNP B-NP +Witter NNP I-NP +. . O + +The DT B-NP +transmogrified VBD I-NP +brokers NNS I-NP +never RB B-ADVP +let VBP B-VP +the DT B-NP +C-word NN I-NP +cross VB B-VP +their PRP$ B-NP +lips NNS I-NP +, , O +instead RB B-ADVP +stressing VBG B-VP +such JJ B-NP +terms NNS I-NP +as IN B-PP +`` `` O +safe JJ B-ADJP +, , O +'' '' O +`` `` O +insured VBN B-ADJP +'' '' O +and CC O +`` `` O +guaranteed VBN B-ADJP +'' '' O +-- : O +even RB B-SBAR +though IN I-SBAR +these DT B-NP +terms NNS I-NP +may MD B-VP +be VB I-VP +severely RB I-VP +limited JJ I-VP +in IN B-PP +their PRP$ B-NP +application NN I-NP +to TO B-PP +a DT B-NP +particular JJ I-NP +new JJ I-NP +financial JJ I-NP +product NN I-NP +. . O + +The DT B-NP +names NNS I-NP +of IN B-PP +some DT B-NP +of IN B-PP +these DT B-NP +products NNS I-NP +do VBP B-VP +n't RB I-VP +suggest VB I-VP +the DT B-NP +risk NN I-NP +involved VBN B-VP +in IN B-PP +buying VBG B-VP +them PRP B-NP +, , O +either RB B-ADVP +. . O + +A DT B-NP +case NN I-NP +in IN B-PP +point NN B-NP +: : O +`` `` B-NP +government-plus JJ I-NP +'' '' I-NP +bond NN I-NP +funds NNS I-NP +. . O + +What WP B-NP +could MD O +imply VB B-VP +more JJR B-NP +safety NN I-NP +than IN B-PP +investing VBG B-VP +in IN B-PP +government NN B-NP +bonds NNS I-NP +? . O + +What WP B-NP +could MD O +be VB B-VP +better JJR B-ADJP +than IN B-PP +getting VBG B-VP +a DT B-NP +tad NN I-NP +more JJR B-NP +income NN I-NP +from IN B-PP +them PRP B-NP +-LRB- ( O +the DT B-NP +plus CC I-NP +-RRB- ) O +than IN B-PP +other JJ B-NP +people NNS I-NP +? . O + +Indeed RB B-ADVP +, , O +conservative JJ B-NP +investors NNS I-NP +, , O +many NN B-NP +of IN B-PP +them PRP B-NP +elderly JJ B-ADJP +, , O +have VBP B-VP +poured VBN I-VP +more JJR B-NP +than IN I-NP +$ $ I-NP +50 CD I-NP +billion CD I-NP +into IN B-PP +such JJ B-NP +funds NNS I-NP +, , O +which WDT B-NP +promise VBP B-VP +fatter JJR B-NP +yields NNS I-NP +than IN B-PP +ordinary JJ B-NP +Treasury NNP I-NP +bonds NNS I-NP +-- : O +only RB B-ADVP +to TO B-VP +learn VB I-VP +later RB B-ADVP +that IN B-SBAR +these DT B-NP +funds NNS I-NP +use VBP B-VP +part NN B-NP +of IN B-PP +their PRP$ B-NP +money NN I-NP +to TO B-VP +dabble VB I-VP +in IN B-PP +high-risk JJ B-NP +bond NN I-NP +options NNS I-NP +, , O +a DT B-NP +gambler NN I-NP +'s POS B-NP +game NN I-NP +. . O + +When WRB B-ADVP +a DT B-NP +certain JJ I-NP +class NN I-NP +of IN B-PP +investment NN B-NP +performs VBZ B-VP +so RB B-ADVP +poorly RB I-ADVP +that IN B-SBAR +its PRP$ B-NP +reputation NN I-NP +is VBZ B-VP +tarnished VBN I-VP +, , O +look VB B-VP +for IN B-SBAR +Wall NNP B-NP +Street NNP I-NP +to TO B-VP +give VB I-VP +it PRP B-NP +a DT B-NP +new JJ I-NP +moniker NN I-NP +. . O + +This DT B-NP +seems VBZ B-VP +to TO I-VP +be VB I-VP +happening VBG I-VP +now RB B-ADVP +to TO B-PP +limited JJ B-NP +partnerships NNS I-NP +, , O +many NN B-NP +of IN B-PP +which WDT B-NP +either DT O +have NN B-VP +gone VBN I-VP +into IN B-PP +the DT B-NP +tank NN I-NP +in IN B-PP +recent JJ B-NP +years NNS I-NP +or CC O +have VBP B-VP +otherwise RB I-VP +been VBN I-VP +grievous JJ B-NP +disappointments NNS I-NP +. . O + +They PRP B-NP +are VBP B-VP +still RB I-VP +being VBG I-VP +sold VBN I-VP +, , O +but CC O +more JJR B-ADVP +and CC I-ADVP +more RBR I-ADVP +often RB I-ADVP +as IN B-PP +`` `` O +direct JJ B-NP +investments NNS I-NP +'' '' O +-- : O +with IN B-PP +all PDT B-NP +the DT I-NP +same JJ I-NP +risks NNS I-NP +they PRP B-NP +had VBD B-VP +under IN B-PP +the DT B-NP +old JJ I-NP +label NN I-NP +. . O + +In IN B-PP +such JJ B-NP +cases NNS I-NP +, , O +the DT B-NP +game NN I-NP +has VBZ B-VP +n't RB I-VP +changed VBN I-VP +, , O +only RB B-ADVP +the DT B-NP +name NN I-NP +. . O + +In IN B-PP +others NNS B-NP +a DT B-NP +familiar JJ I-NP +old JJ I-NP +name NN I-NP +still RB B-ADVP +prevails VBZ B-VP +, , O +but CC O +the DT B-NP +underlying VBG I-NP +game NN I-NP +has VBZ B-VP +changed VBN I-VP +. . O + +For IN B-PP +example NN B-NP +, , O +`` `` B-NP +no DT I-NP +load NN I-NP +'' '' I-NP +mutual JJ I-NP +funds NNS I-NP +remain VBP B-VP +a DT B-NP +favorite NN I-NP +with IN B-PP +investors NNS B-NP +because IN B-SBAR +they PRP B-NP +do VBP B-VP +n't RB I-VP +carry VB I-VP +a DT B-NP +frontend NN I-NP +sales NNS I-NP +commission NN I-NP +. . O + +Getting VBG B-VP +out IN B-PP +of IN B-PP +them PRP B-NP +, , O +however RB B-ADVP +, , O +may MD B-VP +be VB I-VP +a DT B-NP +different JJ I-NP +story NN I-NP +now RB B-ADVP +. . O + +Traditional JJ B-NP +no-loads NNS I-NP +made VBD B-VP +their PRP$ B-NP +money NN I-NP +by IN B-PP +charging VBG B-VP +an DT B-NP +annual JJ I-NP +management NN I-NP +fee NN I-NP +, , O +usually RB B-ADVP +a DT B-NP +modest JJ I-NP +one CD I-NP +; : O +they PRP B-NP +imposed VBD B-VP +no DT B-NP +other JJ I-NP +fees NNS I-NP +, , O +and CC O +many JJ B-NP +still RB B-ADVP +do VBP B-VP +n't RB O +. . O + +In IN B-PP +recent JJ B-NP +years NNS I-NP +, , O +though RB B-ADVP +, , O +a DT B-NP +passel NN I-NP +of IN B-PP +others NNS B-NP +flying VBG B-VP +the DT B-NP +no-load JJ I-NP +flag NN I-NP +have VBP B-VP +been VBN I-VP +imposing VBG I-VP +hefty JJ B-NP +charges NNS I-NP +-- : O +all PDT B-NP +the DT I-NP +way NN I-NP +up IN B-NP +to TO I-NP +6 CD I-NP +% NN I-NP +-- : O +when WRB B-ADVP +an DT B-NP +investor NN I-NP +sells VBZ B-VP +his PRP$ B-NP +shares NNS I-NP +. . O + +Should MD O +n't RB O +they PRP B-NP +properly RB B-ADVP +be VBP B-VP +called VBN I-VP +exit-load JJ B-NP +funds NNS I-NP +? . O + +The DT B-NP +mutual-fund JJ I-NP +industry NN I-NP +is VBZ B-VP +debating VBG I-VP +the DT B-NP +question NN I-NP +, , O +but CC O +do VBP B-VP +n't RB I-VP +expect VB I-VP +a DT B-NP +new JJ I-NP +name NN I-NP +while IN B-SBAR +the DT B-NP +old JJ I-NP +one CD I-NP +is VBZ B-VP +working VBG I-VP +so RB B-ADVP +well RB I-ADVP +. . O + +And CC O +do VBP B-VP +n't RB I-VP +expect VB I-VP +anyone NN B-NP +to TO B-VP +change VB I-VP +the DT B-NP +term NN I-NP +`` `` I-NP +blue JJ I-NP +chip NN I-NP +, , O +'' '' O +either DT B-ADVP +, , O +even RB B-SBAR +though IN I-SBAR +some DT B-NP +of IN B-PP +the DT B-NP +companies NNS I-NP +that WDT B-NP +still RB B-ADVP +enjoy VB B-VP +the DT B-NP +title NN I-NP +may MD B-VP +be VB I-VP +riskier JJR B-NP +investments NNS I-NP +than IN B-SBAR +they PRP B-NP +were VBD B-VP +. . O + +American NNP B-NP +Telephone NNP I-NP +& CC I-NP +Telegraph NNP I-NP +Co. NNP I-NP +, , O +for IN B-PP +one CD B-NP +, , O +is VBZ B-VP +still RB B-ADVP +a DT B-NP +favorite NN I-NP +of IN B-PP +widows NNS B-NP +, , O +orphans NNS B-NP +and CC O +trust NN B-NP +departments NNS I-NP +-- : O +but CC O +shorn VB B-VP +of IN B-PP +its PRP$ B-NP +regional JJ I-NP +telephone NN I-NP +units NNS I-NP +and CC O +exposed VBN B-VP +to TO B-PP +competition NN B-NP +on IN B-PP +every DT B-NP +side NN I-NP +, , O +it PRP B-NP +is VBZ B-VP +a DT B-NP +far RB I-NP +different JJ I-NP +investment NN I-NP +prospect NN I-NP +than IN B-SBAR +it PRP B-NP +was VBD B-VP +before IN B-PP +divestiture NN B-NP +. . O + +Also RB B-ADVP +, , O +blue JJ B-NP +chips NNS I-NP +in IN B-PP +general JJ B-ADJP +have NN B-VP +suffered VBN I-VP +much RB B-NP +more RBR I-NP +short-term JJ I-NP +price NN I-NP +volatility NN I-NP +in IN B-PP +recent JJ B-NP +years NNS I-NP +. . O + +Larry NNP B-NP +Biehl NNP I-NP +, , O +a DT B-NP +money NN I-NP +manager NN I-NP +in IN B-PP +San NNP B-NP +Mateo NNP I-NP +, , O +Calif. NNP B-NP +, , O +blames VBZ B-VP +that IN B-NP +on IN B-PP +the DT B-NP +advent NN I-NP +of IN B-PP +program NN B-NP +trading NN I-NP +, , O +in IN B-PP +which WDT B-NP +computers NNS B-NP +used VBN B-VP +by IN B-PP +big JJ B-NP +institutional JJ I-NP +investors NNS I-NP +are VBP B-VP +programmed VBN I-VP +to TO I-VP +buy VB I-VP +and CC I-VP +sell VB I-VP +big JJ B-NP +blocks NNS I-NP +when WRB B-ADVP +certain JJ B-NP +market NN I-NP +conditions NNS I-NP +prevail VBP B-VP +. . O + +Blue JJ B-NP +chips NNS I-NP +, , O +he PRP B-NP +says VBZ B-VP +, , O +`` `` O +are VBP B-VP +now RB I-VP +being VBG I-VP +referred VBN I-VP +to TO B-PP +as IN B-PP +poker NN B-NP +chips NNS I-NP +. . O +'' '' O + +Finally RB B-ADVP +, , O +even RB B-NP +the DT I-NP +time-honored JJ I-NP +strategy NN I-NP +called VBN B-VP +`` `` O +value NN B-NP +investing VBG I-NP +'' '' O +no RB B-ADVP +longer RB I-ADVP +means VBZ B-VP +what WP B-NP +it PRP B-NP +once RB B-ADVP +did VBD B-VP +. . O + +Before IN B-PP +the DT B-NP +takeover NN I-NP +mania NN I-NP +of IN B-PP +the DT B-NP +'80s NNS I-NP +, , O +it PRP B-NP +referred VBD B-VP +to TO B-PP +rooting VBG B-VP +out IN B-PRT +through IN B-PP +analysis NN B-NP +undervalued VBD B-NP +stocks NNS I-NP +, , O +especially RB B-ADVP +those DT B-NP +with IN B-PP +shrewd JJ B-NP +management NN I-NP +, , O +sound NN B-NP +fundamentals NNS I-NP +and CC O +decent JJ B-NP +prospects NNS I-NP +. . O + +Now RB B-ADVP +, , O +says VBZ B-VP +Mr. NNP B-NP +Biehl NNP I-NP +, , O +value NN B-NP +investing VBG I-NP +often RB B-ADVP +means VBZ B-VP +`` `` O +looking VBG B-VP +for IN B-PP +downtrodden JJ B-NP +companies NNS I-NP +with IN B-PP +terrible JJ B-NP +management NN I-NP +that WDT B-NP +are VBP B-VP +in IN B-PP +real JJ B-NP +trouble NN I-NP +. . O +'' '' O + +To TO B-PP +institutional JJ B-NP +investors NNS I-NP +or CC O +brokers NNS B-NP +, , O +he PRP B-NP +adds VBZ B-VP +, , O +a DT B-NP +company NN I-NP +with IN B-PP +value NN B-NP +is VBZ B-VP +a DT B-NP +company NN I-NP +at IN B-PP +risk NN B-NP +of IN B-PP +being VBG B-VP +swallowed VBN I-VP +up RB B-PRT +. . O + +Ms. NNP B-NP +Bettner NNP I-NP +covers VBZ B-VP +personal JJ B-NP +finance NN I-NP +from IN B-PP +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +'s POS B-NP +Los NNP I-NP +Angeles NNP I-NP +bureau NN I-NP +. . O + +I PRP B-NP +was VBD B-VP +amused VBN B-ADJP +to TO B-VP +read VB I-VP +your PRP$ B-NP +recent JJ I-NP +news NN I-NP +stories NNS I-NP +on IN B-PP +the DT B-NP +banking NN I-NP +industry NN I-NP +'s POS B-NP +reserve NN I-NP +additions NNS I-NP +and CC O +concomitant JJ B-NP +threats NNS I-NP +to TO B-VP +cease VB I-VP +making VBG I-VP +new JJ B-NP +loans NNS I-NP +to TO B-PP +less-developed JJ B-NP +countries NNS I-NP +. . O + +If IN B-SBAR +the DT B-NP +whole JJ I-NP +story NN I-NP +were VBD B-VP +told VBN I-VP +, , O +it PRP B-NP +would MD B-VP +read VB I-VP +something NN B-NP +like IN B-PP +this DT B-NP +: : O + +-- : O +During IN B-PP +the DT B-NP +1970s NNS I-NP +the DT B-NP +commercial JJ I-NP +banks NNS I-NP +lured VBD B-VP +the DT B-NP +country NN I-NP +loan NN I-NP +business NN I-NP +away RB B-ADVP +from IN B-PP +the DT B-NP +bond NN I-NP +markets NNS I-NP +where WRB B-ADVP +the DT B-NP +discipline NN I-NP +of IN B-PP +a DT B-NP +prospectus NN I-NP +and CC O +`` `` O +Use VB O +of IN B-PP +Proceeds NNS B-NP +'' '' B-NP +confirmation NN I-NP +allowed VBD B-VP +lenders NNS B-NP +to TO B-VP +audit VB I-VP +expenditures NNS B-NP +of IN B-PP +old JJ B-NP +loans NNS I-NP +before IN B-SBAR +new JJ B-NP +loans NNS I-NP +were VBD B-VP +made VBN I-VP +. . O + +-- : O +The DT B-NP +reward NN I-NP +for IN B-PP +that DT B-NP +reckless JJ I-NP +lending NN I-NP +was VBD B-VP +high NN B-NP +reported VBD I-NP +earnings NNS I-NP +-LRB- ( O +and CC O +management NN O +bonuses NNS O +-RRB- ) O +; : O +the DT B-NP +price NN I-NP +, , O +a DT B-NP +sea NN I-NP +of IN B-PP +bad JJ B-NP +loans NNS I-NP +. . O + +-- : O +For IN B-PP +the DT B-NP +past JJ I-NP +several JJ I-NP +years NNS I-NP +, , O +the DT B-NP +banks NNS I-NP +, , O +lacking VBG B-VP +a DT B-NP +private JJ I-NP +navy NN I-NP +to TO B-VP +enforce VB I-VP +their PRP$ B-NP +interests NNS I-NP +, , O +have VBP B-VP +been VBN I-VP +pressuring VBG I-VP +the DT B-NP +U.S. NNP I-NP +Treasury NNP I-NP +to TO B-VP +underwrite VB I-VP +their PRP$ B-NP +bad JJ I-NP +LDC NNP I-NP +credits NNS I-NP +. . O + +-- : O +The DT B-NP +Treasury NNP I-NP +wisely RB B-ADVP +has VBZ B-VP +refused VBN I-VP +, , O +but CC O +has VBZ B-VP +concluded VBN I-VP +that IN B-SBAR +indirect JJ B-NP +credit NN I-NP +support NN I-NP +through IN B-PP +various JJ B-NP +multinational JJ I-NP +agencies NNS I-NP +should MD B-VP +be VB I-VP +made VBN I-VP +available JJ B-ADJP +for IN B-PP +a DT B-NP +price NN I-NP +: : O +either DT O +debt NN B-NP +reduction NN I-NP +or CC O +debt-service JJ B-NP +reduction NN I-NP +or CC O +new JJ B-NP +loans NNS I-NP +-LRB- ( O +the DT B-NP +Brady NNP I-NP +Plan NNP I-NP +-RRB- ) O +. . O + +-- : O +The DT B-NP +banks NNS I-NP +will MD B-VP +threaten VB I-VP +not RB O +to TO B-VP +make VB I-VP +further JJ B-NP +loans NNS I-NP +, , O +but CC O +in IN B-PP +truth NN B-NP +, , O +lacking VBG B-VP +the DT B-NP +capital NN I-NP +to TO B-VP +write VB I-VP +off IN B-PRT +their PRP$ B-NP +mistakes NNS I-NP +or CC O +to TO B-VP +build VB I-VP +a DT B-NP +navy NN I-NP +, , O +they PRP B-NP +have VBP B-VP +no DT B-NP +alternative NN I-NP +but CC O +to TO B-VP +go VB I-VP +along RB B-PRT +. . O + +George NNP B-NP +A. NNP I-NP +Wiegers NNP I-NP + +Gillette NNP B-NP +Co. NNP I-NP +elected VBD B-VP +Warren NNP B-NP +E. NNP I-NP +Buffett NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +Berkshire NNP B-NP +Hathaway NNP I-NP +Inc. NNP I-NP +, , O +to TO B-PP +its PRP$ B-NP +board NN I-NP +, , O +increasing VBG B-VP +the DT B-NP +number NN I-NP +of IN B-PP +directors NNS B-NP +to TO B-PP +12 CD B-NP +from IN B-PP +11 CD B-NP +. . O + +Berkshire NNP B-NP +Hathaway NNP I-NP +earlier RBR B-NP +this DT I-NP +year NN I-NP +bought VBD B-VP +$ $ B-NP +600 CD I-NP +million CD I-NP +of IN B-PP +preferred JJ B-NP +stock NN I-NP +in IN B-PP +Gillette NNP B-NP +that WDT B-NP +is VBZ B-VP +convertible JJ B-ADJP +into IN B-PP +an DT B-NP +11 CD I-NP +% NN I-NP +stake NN I-NP +, , O +and CC O +Gillette NNP B-NP +said VBD B-VP +at IN B-PP +the DT B-NP +time NN I-NP +that IN B-SBAR +Mr. NNP B-NP +Buffett NNP I-NP +would MD B-VP +be VB I-VP +added VBN I-VP +to TO B-PP +the DT B-NP +board NN I-NP +. . O + +Separately RB B-ADVP +, , O +Gillette NNP B-NP +said VBD B-VP +its PRP$ B-NP +third-quarter JJ I-NP +earnings NNS I-NP +rose VBD B-VP +2 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +65.2 CD I-NP +million CD I-NP +, , O +or CC O +57 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +63.9 CD I-NP +million CD I-NP +, , O +or CC O +57 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +the DT B-NP +year-earlier JJ I-NP +period NN I-NP +; : O +per-share JJ B-NP +earnings NNS I-NP +remained VBD B-VP +flat JJ B-ADJP +despite IN B-PP +an DT B-NP +increase NN I-NP +in IN B-PP +net JJ B-NP +income NN I-NP +in IN B-PP +part NN B-NP +because IN B-SBAR +the DT B-NP +company NN I-NP +paid VBD B-VP +a DT B-NP +$ $ I-NP +10.4 CD I-NP +million CD I-NP +dividend NN I-NP +on IN B-PP +the DT B-NP +new JJ I-NP +preferred JJ I-NP +stock NN I-NP +in IN B-PP +the DT B-NP +period NN I-NP +. . O + +Sales NNS B-NP +rose VBD B-VP +9 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +921.6 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +845.7 CD I-NP +million CD I-NP +, , O +with IN B-SBAR +sales NNS B-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +international\/diversified VBN I-NP +operations NNS I-NP +`` `` B-PP +well RB I-PP +above IN I-PP +'' '' O +the DT B-NP +year NN I-NP +earlier-period NN I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +Gillette NNP B-NP +'s POS B-NP +net JJ I-NP +income NN I-NP +declined VBD B-VP +1 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +205.3 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +2.02 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +207 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.82 CD I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +the DT B-NP +1988 CD I-NP +period NN I-NP +. . O + +Sales NNS B-NP +rose VBD B-VP +6 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +2.77 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +2.61 CD I-NP +billion CD I-NP +. . O + +In IN B-PP +composite JJ B-NP +trading NN I-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +, , O +the DT B-NP +company NN I-NP +closed VBD B-VP +yesterday NN B-NP +at IN B-PP +$ $ B-NP +45.50 CD I-NP +a DT B-NP +share NN I-NP +, , O +up IN B-ADVP +25 CD B-NP +cents NNS I-NP +. . O + +When WRB B-ADVP +Walter NNP B-NP +Yetnikoff NNP I-NP +, , O +the DT B-NP +president NN I-NP +of IN B-PP +Sony NNP B-NP +Corp. NNP I-NP +'s POS B-NP +CBS NNP I-NP +Records NNPS I-NP +, , O +last JJ B-NP +month NN I-NP +told VBD B-VP +producer NN B-NP +Peter NNP I-NP +Guber NNP I-NP +that IN B-SBAR +Sony NNP B-NP +was VBD B-VP +about IN O +to TO B-VP +make VB I-VP +a DT B-NP +$ $ I-NP +3.4 CD I-NP +billion CD I-NP +bid NN I-NP +for IN B-PP +Columbia NNP B-NP +Pictures NNPS I-NP +and CC O +needed VBN B-VP +someone NN B-NP +to TO B-VP +run VB I-VP +the DT B-NP +studio NN I-NP +, , O +Mr. NNP B-NP +Guber NNP I-NP +jumped VBD B-VP +at IN B-PP +the DT B-NP +chance NN I-NP +. . O + +Within IN B-PP +two CD B-NP +days NNS I-NP +, , O +he PRP B-NP +was VBD B-VP +on IN B-PP +his PRP$ B-NP +way NN I-NP +to TO B-PP +New NNP B-NP +York NNP I-NP +and CC O +Tokyo NNP B-NP +to TO B-VP +meet VB I-VP +with IN B-PP +top JJ B-NP +brass NN I-NP +at IN B-PP +Sony NNP B-NP +. . O + +And CC O +before IN B-SBAR +the DT B-NP +week NN I-NP +was VBD B-VP +out IN B-ADJP +, , O +Sony NNP B-NP +had VBD B-VP +offered VBN I-VP +Mr. NNP B-NP +Guber NNP I-NP +and CC O +his PRP$ B-NP +partner NN I-NP +, , O +Jon NNP B-NP +Peters NNP I-NP +, , O +the DT B-NP +most RBS I-NP +lucrative JJ I-NP +employment NN I-NP +contracts NNS I-NP +in IN B-PP +the DT B-NP +history NN I-NP +of IN B-PP +the DT B-NP +movie NN I-NP +business NN I-NP +. . O + +Not RB B-CONJP +only RB I-CONJP +that IN B-NP +, , O +Sony NNP B-NP +also RB B-ADVP +agreed VBD B-VP +to TO I-VP +give VB I-VP +them PRP B-NP +a DT B-NP +stake NN I-NP +in IN B-PP +Columbia NNP B-NP +'s POS B-NP +future NN I-NP +profits NNS I-NP +and CC O +buy VB B-VP +their PRP$ B-NP +company NN I-NP +, , O +Guber NNP B-NP +Peters NNP I-NP +Entertainment NNP I-NP +Co. NNP I-NP +, , O +for IN B-PP +$ $ B-NP +200 CD I-NP +million CD I-NP +, , O +almost RB B-NP +40 CD I-NP +% NN I-NP +more JJR B-ADJP +than IN B-PP +the DT B-NP +market NN I-NP +value NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +. . O + +There EX B-NP +was VBD B-VP +just RB B-NP +one CD I-NP +sticking VBG I-NP +point NN I-NP +: : O +The DT B-NP +two CD I-NP +had VBD B-VP +a DT B-NP +prior JJ I-NP +commitment NN I-NP +. . O + +Just RB B-NP +seven CD I-NP +months NNS I-NP +earlier RBR B-ADVP +, , O +they PRP B-NP +had VBD B-VP +signed VBN I-VP +a DT B-NP +five-year JJ I-NP +exclusive JJ I-NP +contract NN I-NP +to TO B-VP +make VB I-VP +movies NNS B-NP +for IN B-PP +Warner NNP B-NP +Bros. NNP I-NP +for IN B-PP +which WDT B-NP +they PRP B-NP +had VBD B-VP +just RB I-VP +produced VBN I-VP +the DT B-NP +smash NN I-NP +hit VBD I-NP +`` `` I-NP +Batman NNP I-NP +. . O +'' '' O + +But CC O +Mr. NNP B-NP +Guber NNP I-NP +figured VBD B-VP +that IN B-SBAR +Warner NNP B-NP +Communications NNP I-NP +Inc. NNP I-NP +chairman NN I-NP +Steven NNP I-NP +Ross NNP I-NP +, , O +would MD B-VP +empathize VB I-VP +and CC O +let VB B-VP +the DT B-NP +producers NNS I-NP +go VBP B-VP +, , O +knowing VBG B-VP +the DT B-NP +Sony NNP I-NP +offer NN I-NP +was VBD B-VP +`` `` O +the DT B-NP +culmination NN I-NP +of IN B-PP +a DT B-NP +life NN I-NP +'s POS B-NP +work NN I-NP +. . O +'' '' O + +He PRP B-NP +figured VBD B-VP +wrong JJ B-ADVP +. . O + +Last JJ B-NP +week NN I-NP +, , O +following VBG B-PP +fruitless JJ B-NP +settlement NN I-NP +talks NNS I-NP +, , O +Warner NNP B-NP +, , O +now RB B-ADVP +merging VBG B-VP +with IN B-PP +Time NNP B-NP +Inc. NNP I-NP +, , O +filed VBD B-VP +a DT O +$ $ O +1 CD O +billion CD O +breach NN O +of IN B-PP +contract NN B-NP +suit NN B-NP +in IN B-PP +Los NNP B-NP +Angeles NNP I-NP +Superior NNP I-NP +Court NNP I-NP +against IN B-PP +both DT B-NP +Sony NNP B-NP +and CC O +Guber NNP B-NP +Peters NNP I-NP +. . O + +Sony NNP B-NP +promptly RB B-ADVP +countersued VBD B-VP +, , O +charging VBG B-VP +Warner NNP B-NP +with IN B-PP +trying VBG B-VP +to TO I-VP +sabotage VB I-VP +its PRP$ B-NP +acquisitions NNS I-NP +and CC O +hurt VBN B-VP +its PRP$ B-NP +efforts NNS I-NP +to TO B-VP +enter VB I-VP +the DT B-NP +U.S. NNP I-NP +movie NN I-NP +business NN I-NP +. . O + +The DT B-NP +accusations NNS I-NP +of IN B-PP +lying VBG B-NP +and CC I-NP +duplicity NN I-NP +are VBP B-VP +flying VBG I-VP +thick JJ B-ADVP +and CC I-ADVP +fast RB I-ADVP +on IN B-PP +both DT B-NP +sides NNS I-NP +: : O +As IN B-SBAR +one CD B-NP +Sony NNP I-NP +executive NN I-NP +puts VBZ B-VP +it PRP B-NP +, , O +`` `` O +It PRP B-NP +'s VBZ B-VP +World NNP B-NP +War NNP I-NP +III NNP I-NP +. . O +'' '' O + +That DT B-SBAR +two CD B-NP +successful JJ I-NP +producers NNS I-NP +who WP B-NP +are VBP B-VP +n't RB O +all DT B-ADJP +that NN I-ADJP +well RB I-ADJP +known VBN I-ADJP +outside IN B-PP +Hollywood NNP B-NP +could MD B-VP +occasion VB I-VP +such JJ B-NP +a DT I-NP +clash NN I-NP +of IN B-PP +corporate JJ B-NP +titans NNS I-NP +suggests VBZ B-VP +how WRB B-ADJP +desperate JJ I-ADJP +the DT B-NP +quest NN I-NP +for IN B-PP +proven VBN B-NP +talent NN I-NP +is VBZ B-VP +in IN B-PP +the DT B-NP +movie NN I-NP +business NN I-NP +. . O + +And CC O +they PRP B-NP +are VBP B-VP +a DT B-NP +very RB I-NP +odd JJ I-NP +team NN I-NP +in IN B-PP +any DT B-NP +case NN I-NP +. . O + +Mr. NNP B-NP +Guber NNP I-NP +was VBD B-VP +raised VBN I-VP +in IN B-PP +Boston NNP B-NP +and CC O +educated VBN B-VP +in IN B-PP +New NNP B-NP +York NNP I-NP +. . O + +He PRP B-NP +is VBZ B-VP +a DT B-NP +lawyer NN I-NP +with IN B-PP +a DT B-NP +string NN I-NP +of IN B-PP +academic JJ B-NP +degrees NNS I-NP +. . O + +Mr. NNP B-NP +Peters NNP I-NP +is VBZ B-VP +a DT B-NP +high-school NN I-NP +dropout NN I-NP +who WP B-NP +came VBD B-VP +to TO B-PP +fame VB B-NP +as IN B-PP +Barbra NNP B-NP +Streisand NNP I-NP +'s POS B-NP +hairdresser NN I-NP +. . O + +Yet RB B-ADVP +, , O +they PRP B-NP +are VBP B-VP +far RB B-ADVP +and CC I-ADVP +away RB I-ADVP +the DT B-NP +most RBS I-NP +prolific JJ I-NP +producers NNS I-NP +in IN B-PP +Hollywood NNP B-NP +. . O + +And CC O +despite IN B-PP +their PRP$ B-NP +share NN I-NP +of IN B-PP +duds NNS B-NP +, , O +they PRP B-NP +make VBP B-VP +movies NNS B-NP +that WDT B-NP +make VBP B-VP +money NN B-NP +. . O + +That DT B-NP +is VBZ B-VP +a DT B-NP +skill NN I-NP +Sony NNP B-NP +badly RB B-ADVP +needs VBZ B-VP +-- : O +and CC O +Warner NNP B-NP +is VBZ B-VP +loath JJ B-ADJP +to TO B-VP +lose VB I-VP +. . O + +Although IN B-SBAR +Columbia NNP B-NP +had VBD B-VP +a DT B-NP +good JJ I-NP +summer NN I-NP +with IN B-PP +`` `` O +Ghostbusters NNP B-NP +II NNP I-NP +'' '' O +and CC O +`` `` O +When WRB B-ADVP +Harry NNP B-NP +Met NNP B-VP +Sally NNP B-NP +, , O +'' '' O +rivals NNS B-NP +such JJ B-PP +as IN I-PP +Warner NNP B-NP +, , O +Paramount NNP B-NP +Pictures NNPS I-NP +, , O +Walt NNP B-NP +Disney NNP I-NP +Co. NNP I-NP +and CC O +Universal NNP B-NP +Studios NNP I-NP +have VBP B-VP +been VBN I-VP +thrashing NN I-VP +Columbia NNP B-NP +at IN B-PP +the DT B-NP +box NN I-NP +office NN I-NP +. . O + +After IN B-PP +five CD B-NP +years NNS I-NP +of IN B-PP +management NN B-NP +turmoil NN I-NP +, , O +with IN B-PP +four CD B-NP +different JJ I-NP +studio NN I-NP +heads NNS I-NP +, , O +Columbia NNP B-NP +sorely RB B-ADVP +needs VBZ B-VP +a DT B-NP +stable NN I-NP +, , I-NP +savvy JJ I-NP +team NN I-NP +to TO B-VP +restore VB I-VP +its PRP$ B-NP +credibility NN I-NP +and CC O +get VB B-VP +it PRP B-NP +back RB B-ADVP +in IN B-PP +the DT B-NP +business NN I-NP +of IN B-PP +making VBG B-VP +hits NNS B-NP +. . O + +Mr. NNP B-NP +Guber NNP I-NP +and CC O +Mr. NNP B-NP +Peters NNP I-NP +are VBP B-VP +n't RB I-VP +universally RB I-VP +loved VBD I-VP +in IN B-PP +Hollywood NNP B-NP +but CC O +they PRP B-NP +are VBP B-VP +well RB B-ADJP +connected VBN I-ADJP +. . O + +Their PRP$ B-NP +stock NN I-NP +in IN B-PP +trade NN B-NP +as IN B-PP +`` `` B-NP +executive NN I-NP +producers NNS I-NP +'' '' O +is VBZ B-VP +sniffing VBG I-VP +out RP B-PRT +hot JJ B-NP +properties NNS I-NP +, , O +locking JJ B-VP +them PRP B-NP +up IN B-PRT +and CC O +then RB B-VP +getting VBG I-VP +big JJ B-NP +studios NNS I-NP +to TO B-VP +bankroll VB I-VP +and CC I-VP +distribute VB I-VP +them PRP B-NP +. . O + +Sometimes RB B-ADVP +Mr. NNP B-NP +Guber NNP I-NP +and CC O +Mr. NNP B-NP +Peters NNP I-NP +do VBP B-VP +little RB B-NP +more JJR I-NP +than IN B-PP +grab NN B-VP +the DT B-NP +first JJ I-NP +draft NN I-NP +of IN B-PP +a DT B-NP +screenplay NN I-NP +for IN B-PP +a DT B-NP +`` `` I-NP +Flashdance NNP I-NP +, , O +'' '' O +or CC O +buy VB B-VP +rights NNS B-NP +to TO B-PP +a DT B-NP +best JJS I-NP +seller NN I-NP +such JJ B-PP +as IN I-PP +`` `` O +The DT B-NP +Color NNP I-NP +Purple NNP I-NP +. . O +'' '' O + +It PRP B-NP +falls VBZ B-VP +to TO B-PP +others NNS B-NP +to TO B-VP +do VB I-VP +the DT B-NP +writing NN I-NP +, , I-NP +directing VBG I-NP +and CC I-NP +producing VBG I-NP +. . O + +With IN B-PP +MGM\/UA NNP B-NP +'s POS B-NP +`` `` I-NP +Rainman NNP I-NP +, , O +'' '' O +for IN B-PP +instance NN B-NP +, , O +Messrs. NNP B-NP +Guber NNP I-NP +and CC I-NP +Peters NNP I-NP +had VBD B-VP +virtually JJ B-NP +nothing NN I-NP +to TO B-VP +do VB I-VP +with IN B-PP +day-to-day JJ B-NP +production NN I-NP +, , O +but CC O +their PRP$ B-NP +names NNS I-NP +still RB B-ADVP +appear VBP B-VP +in IN B-PP +big JJ B-NP +letters NNS I-NP +on IN B-PP +the DT B-NP +credits NNS I-NP +, , O +and CC O +they PRP B-NP +are VBP B-VP +inevitably RB I-VP +associated VBN I-VP +with IN B-PP +its PRP$ B-NP +success NN I-NP +. . O + +Sometimes RB B-ADVP +, , O +as IN B-PP +with IN B-PP +`` `` O +Batman NNP B-NP +, , O +'' '' O +the DT B-NP +pair NN I-NP +really RB B-ADVP +do VBP B-VP +make VB I-VP +the DT B-NP +film NN I-NP +. . O + +In IN B-PP +that DT B-NP +case NN I-NP +, , O +Guber NNP B-NP +Peters NNP I-NP +acquired VBD B-VP +the DT B-NP +rights NNS I-NP +in IN B-PP +1979 CD B-NP +, , O +nursed VBD B-VP +the DT B-NP +movie NN I-NP +through IN B-PP +a DT B-NP +dozen NN I-NP +scripts NNS I-NP +, , O +and CC O +were VBD B-VP +on IN B-PP +the DT B-NP +set NN I-NP +in IN B-PP +London NNP B-NP +for IN B-PP +11 CD B-NP +months NNS I-NP +hovering VBG B-VP +over IN B-PP +the DT B-NP +most RBS I-NP +minute NN I-NP +changes NNS I-NP +in IN B-PP +casting VBG B-NP +and CC I-NP +production NN I-NP +. . O + +`` `` O +They PRP B-NP +'re VBP B-VP +the DT B-NP +best JJS I-NP +production NN I-NP +talent NN I-NP +around IN B-ADVP +, , O +'' '' O +says VBZ B-VP +Brian NNP B-NP +De NNP I-NP +Palma NNP I-NP +, , O +beholden JJ B-ADJP +to TO B-PP +Guber NNP B-NP +Peters NNP I-NP +for IN B-PP +hiring VBG B-VP +him PRP B-NP +to TO B-VP +direct VB I-VP +the DT B-NP +Warner NNP I-NP +movie NN I-NP +of IN B-PP +Tom NNP B-NP +Wolfe NNP I-NP +'s POS B-NP +novel NN I-NP +`` `` I-NP +Bonfire NN I-NP +of IN B-PP +the DT B-NP +Vanities NNS I-NP +. . O +'' '' O + +On IN B-PP +that DT B-NP +film NN I-NP +, , O +which WDT B-NP +is VBZ B-VP +to TO I-VP +start VB I-VP +shooting NN B-NP +in IN B-PP +a DT B-NP +few JJ I-NP +months NNS I-NP +, , O +`` `` O +they PRP B-NP +'ve VBP B-VP +been VBN I-VP +very RB B-ADJP +much RB I-ADJP +involved VBN I-ADJP +, , O +hiring VBG B-VP +talent NN B-NP +and CC O +discussing VBG B-VP +the DT B-NP +development NN I-NP +of IN B-PP +the DT B-NP +script NN I-NP +. . O + +And CC O +when WRB B-ADVP +you PRP B-NP +'re VBP B-VP +making VBG I-VP +a DT B-NP +movie NN I-NP +this DT B-ADJP +big JJ I-ADJP +, , O +you PRP B-NP +need VBP B-VP +all PDT B-NP +the DT I-NP +help NN I-NP +you PRP B-NP +can MD B-VP +get VB I-VP +, , O +'' '' O +Mr. NNP B-NP +De NNP I-NP +Palma NNP I-NP +adds VBZ B-VP +. . O + +`` `` O +I PRP B-NP +wish VBP B-VP +they PRP B-NP +were VBD B-VP +around IN B-ADVP +24 CD B-NP +hours VBZ I-NP +a DT B-NP +day NN I-NP +. . O +'' '' O + +And CC O +some DT B-NP +movies NNS I-NP +seem VBP B-VP +to TO I-VP +have VB I-VP +been VBN I-VP +hurt VBN I-VP +by IN B-PP +their PRP$ B-NP +inattention NN I-NP +. . O + +Warner NNP B-NP +executives NNS I-NP +blame VBP B-VP +Mr. NNP B-NP +Guber NNP I-NP +'s POS B-NP +and CC O +Mr. NNP B-NP +Peters NNP I-NP +'s POS B-NP +lack NN I-NP +of IN B-PP +involvement NN B-NP +in IN B-PP +`` `` O +Caddyshack NNP B-NP +II NNP I-NP +'' '' O +for IN B-PP +casting VBG B-NP +and CC I-NP +production NN I-NP +problems NNS I-NP +and CC O +the DT B-NP +film NN I-NP +'s POS B-NP +ultimate JJ I-NP +dismal JJ I-NP +failure NN I-NP +. . O + +`` `` O +We PRP B-NP +'ve VBP B-VP +had VBD I-VP +a DT B-NP +few JJ I-NP +bombs NNS I-NP +, , O +'' '' O +admits VBZ B-VP +Mr. NNP B-NP +Peters NNP I-NP +. . O + +`` `` O +But CC O +by IN B-ADVP +and CC I-ADVP +large JJ I-ADVP +this DT B-NP +company NN I-NP +has VBZ B-VP +only RB I-VP +been VBN I-VP +profitable JJ B-ADJP +. . O +'' '' O + +He PRP B-NP +says VBZ B-VP +his PRP$ B-NP +company NN I-NP +'s POS B-NP +prowess NN I-NP +at IN B-PP +packaging NN B-NP +and CC I-NP +marketing NN I-NP +`` `` O +is VBZ B-VP +why WRB B-ADVP +we PRP B-NP +'ll MD B-VP +be VB I-VP +good JJ B-ADJP +at IN B-PP +Columbia NNP B-NP +. . O + +We PRP B-NP +practically RB B-ADVP +ran VBD B-VP +our PRP$ B-NP +own JJ I-NP +studio NN I-NP +. . O +'' '' O + +Longtime JJ B-NP +Hollywood NNP I-NP +associates NNS I-NP +describe VBP B-VP +Mr. NNP B-NP +Guber NNP I-NP +as IN B-PP +the DT B-NP +intellectual JJ I-NP +powerhouse NN I-NP +of IN B-PP +the DT B-NP +two CD I-NP +, , O +a DT B-NP +man NN I-NP +with IN B-PP +a DT B-NP +flair NN I-NP +for IN B-PP +deal-making NN B-NP +and CC I-NP +marketing NN I-NP +. . O + +`` `` O +Peter NNP B-NP +is VBZ B-VP +a DT B-NP +major JJ I-NP +piece NN I-NP +of IN B-PP +Hollywood NNP B-NP +manpower NN I-NP +who WP B-NP +has VBZ B-VP +really RB I-VP +earned VBN I-VP +his PRP$ B-NP +success NN I-NP +, , O +'' '' O +says VBZ B-VP +Robert NNP B-NP +Bookman NNP I-NP +, , O +an DT B-NP +agent NN I-NP +at IN B-PP +Creative NNP B-NP +Artists NNP I-NP +Agency NNP I-NP +. . O + +Mark NNP B-NP +Johnson NNP I-NP +, , O +the DT B-NP +producer NN I-NP +of IN B-PP +`` `` O +Rainman NNP B-NP +, , O +'' '' O +chimes VBZ B-VP +in IN B-PRT +: : O +`` `` O +He PRP B-NP +has VBZ B-VP +a DT B-NP +great JJ I-NP +ability NN I-NP +to TO B-VP +hire VB I-VP +terrific JJ B-NP +people NNS I-NP +and CC O +delegate NN B-VP +authority NN B-NP +... : O +. . O + +It PRP B-NP +'s VBZ B-VP +no DT B-NP +accident NN I-NP +that IN B-SBAR +they PRP B-NP +'ve VBP B-VP +been VBN I-VP +able JJ B-ADJP +to TO B-VP +develop VB I-VP +such JJ B-NP +successful JJ I-NP +material NN I-NP +. . O +'' '' O + +Mr. NNP B-NP +Peters NNP I-NP +, , O +on IN B-PP +the DT B-NP +other JJ I-NP +hand NN I-NP +, , O +has VBZ B-VP +fewer JJR B-NP +fans NNS I-NP +in IN B-PP +Hollywood NNP B-NP +, , O +and CC O +his PRP$ B-NP +detractors NNS I-NP +like NN B-VP +to TO I-VP +characterize VB I-VP +him PRP B-NP +as IN B-PP +something NN B-NP +of IN B-PP +a DT B-NP +hot-tempered JJ I-NP +bully NN I-NP +. . O + +He PRP B-NP +gets VBZ B-VP +better JJR B-NP +reviews NNS I-NP +as IN B-PP +a DT B-NP +creative JJ I-NP +whiz NN I-NP +, , O +an DT B-NP +enthusiast NN I-NP +, , O +an DT B-NP +idea NN I-NP +man NN I-NP +. . O + +He PRP B-NP +also RB B-ADVP +had VBD B-VP +to TO I-VP +fight VB I-VP +harder JJR B-ADVP +for IN B-PP +credibility NN B-NP +than IN B-SBAR +his PRP$ B-NP +partner NN I-NP +did VBD B-VP +. . O + +Barbra NNP B-NP +Streisand NNP I-NP +made VBD B-VP +him PRP B-NP +famous JJ B-ADJP +. . O + +He PRP B-NP +cut VBP B-VP +her PRP$ B-NP +hair NN I-NP +. . O + +He PRP B-NP +lived VBD B-VP +with IN B-PP +her PRP$ B-NP +. . O + +He PRP B-NP +came VBD B-VP +to TO B-VP +produce VB I-VP +her PRP$ B-NP +records NNS I-NP +and CC O +her PRP$ B-NP +movies NNS I-NP +-- : O +`` `` O +A DT B-NP +Star NNP I-NP +Is VBZ B-VP +Born VBN I-VP +'' '' O +and CC O +`` `` O +The DT B-NP +Main NNP I-NP +Event NN I-NP +. . O +'' '' O + +Thrice RB B-ADVP +married VBN B-VP +but CC O +now RB B-NP +single JJ B-ADJP +, , O +Mr. NNP B-NP +Peters NNP I-NP +got VBD B-VP +plenty NN B-NP +of IN B-PP +ink NN B-NP +last JJ B-NP +summer NN I-NP +for IN B-PP +an DT B-NP +on-set JJ I-NP +romance NN I-NP +with IN B-PP +actress NN B-NP +Kim NNP I-NP +Basinger NNP I-NP +during IN B-PP +the DT B-NP +making NN I-NP +of IN B-PP +`` `` O +Batman NNP B-NP +. . O +'' '' O + +Mr. NNP B-NP +Guber NNP I-NP +, , O +by IN B-PP +contrast NN B-NP +, , O +has VBZ B-VP +been VBN I-VP +married VBN B-ADJP +to TO B-PP +one CD B-NP +woman NN I-NP +for IN B-PP +more JJR B-NP +than IN I-NP +20 CD I-NP +years NNS I-NP +. . O + +But CC O +for IN B-PP +all DT B-NP +their PRP$ I-NP +intellectual JJ I-NP +and CC I-NP +stylistic JJ I-NP +differences NNS I-NP +, , O +they PRP B-NP +make VBP B-VP +the DT B-NP +perfect JJ I-NP +`` `` I-NP +good JJ I-NP +cop NN I-NP +, , I-NP +bad JJ I-NP +cop NN I-NP +'' '' I-NP +team NN I-NP +, , O +Hollywood NNP B-NP +associates NNS I-NP +say VBP B-VP +. . O + +`` `` O +Peter NNP B-NP +is VBZ B-VP +the DT B-NP +bright JJ I-NP +, , I-NP +sympathetic JJ I-NP +guy NN I-NP +when WRB B-ADVP +you PRP B-NP +'re VBP B-VP +doing VBG I-VP +a DT B-NP +deal NN I-NP +, , O +'' '' O +says VBZ B-VP +one CD B-NP +agent NN I-NP +. . O + +`` `` O +If IN B-SBAR +there EX B-NP +'s VBZ B-VP +a DT B-NP +problem NN I-NP +, , O +Peter NNP B-NP +disappears VBZ B-VP +, , O +and CC O +all DT B-NP +of IN B-PP +a DT B-NP +sudden JJ I-NP +Jon NNP B-NP +shows VBZ B-VP +up IN B-PRT +. . O +'' '' O + +Mr. NNP B-NP +Guber NNP I-NP +and CC O +Mr. NNP B-NP +Peters NNP I-NP +rub NN B-VP +many JJ B-NP +people NNS I-NP +in IN B-PP +Hollywood NNP B-NP +the DT B-NP +wrong JJ I-NP +way NN I-NP +. . O + +Producers NNP B-NP +Don NNP I-NP +Simpson NNP I-NP +and CC I-NP +Jerry NNP I-NP +Bruckheimer NNP I-NP +, , O +who WP B-NP +shepherded VBD B-VP +`` `` O +Flashdance NNP B-NP +'' '' O +through IN B-PP +several JJ B-NP +scripts NNS I-NP +and CC O +ultimately RB B-VP +produced VBN I-VP +the DT B-NP +movie NN I-NP +, , O +bristle VBP B-VP +when WRB B-ADVP +Messrs. NNP B-NP +Guber NNP I-NP +and CC I-NP +Peters NNP I-NP +take VB B-VP +credit NN B-NP +for IN B-PP +the DT B-NP +film NN I-NP +. . O + +Says VBZ B-VP +Mr. NNP B-NP +Simpson NNP I-NP +: : O +`` `` O +The DT B-NP +script NN I-NP +was VBD B-VP +unreadable JJ B-ADJP +. . O + +We PRP B-NP +reinvented VBD B-VP +it PRP B-NP +. . O + +We PRP B-NP +are VBP B-VP +the DT B-NP +producers NNS I-NP +of IN B-PP +that DT B-NP +movie NN I-NP +. . O + +They PRP B-NP +got VBD B-VP +a DT B-NP +small JJ I-NP +piece NN I-NP +of IN B-PP +the DT B-NP +net JJ I-NP +profits NNS I-NP +and CC O +a DT B-NP +screen NN I-NP +credit NN I-NP +'' '' O +as IN B-PP +executive NN B-NP +producers NNS I-NP +. . O + +When WRB B-ADVP +Roger NNP B-NP +Birnbaum NNP I-NP +, , O +an DT B-NP +executive NN I-NP +who WP B-NP +worked VBD B-VP +for IN B-PP +Guber NNP B-NP +Peters NNP I-NP +in IN B-PP +the DT B-NP +early JJ I-NP +1980s CD I-NP +, , O +left VBN B-VP +to TO B-VP +take VB I-VP +a DT B-NP +job NN I-NP +as IN B-PP +head NN B-NP +of IN B-PP +production NN B-NP +at IN B-PP +the DT B-NP +United NNP I-NP +Artists NNPS I-NP +studio NN I-NP +, , O +they PRP B-NP +made VBD B-VP +him PRP B-NP +forfeit VB B-VP +all DT B-NP +credits NNS I-NP +and CC I-NP +financial JJ I-NP +interest NN I-NP +in IN B-PP +the DT B-NP +films NNS I-NP +he PRP B-NP +had VBD B-VP +helped VBN I-VP +develop VB I-VP +, , O +including VBG B-PP +`` `` O +Rainman NNP B-NP +'' '' O +and CC O +`` `` O +Batman NNP B-NP +. . O +'' '' O + +Mr. NNP B-NP +Peters NNP I-NP +acknowledges VBZ B-VP +that IN B-NP +and CC O +says VBZ B-VP +it PRP B-NP +'s VBZ B-VP +not RB O +unlike IN B-PP +the DT B-NP +situation NN I-NP +he PRP B-NP +and CC O +Mr. NNP B-NP +Guber NNP I-NP +are VBP B-VP +in IN B-PP +with IN B-PP +Warner NNP B-NP +. . O + +`` `` O +I PRP B-NP +was VBD B-VP +upset VBN B-ADJP +with IN B-PP +Roger NNP B-NP +, , O +I PRP B-NP +fumpered VBD B-VP +and CC I-VP +schmumpered VBD I-VP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Peters NNP I-NP +. . O + +`` `` O +But CC O +he PRP B-NP +wanted VBD B-VP +to TO I-VP +pursue VB I-VP +his PRP$ B-NP +own JJ I-NP +dream NN I-NP +, , O +and CC O +he PRP B-NP +went VBD B-VP +. . O +'' '' O + +Still RB B-ADVP +, , O +Mr. NNP B-NP +Birnbaum NNP I-NP +says VBZ B-VP +his PRP$ B-NP +relationship NN I-NP +with IN B-PP +Guber NNP B-NP +Peters NNP I-NP +was VBD B-VP +`` `` O +one CD B-NP +of IN B-PP +the DT B-NP +most RBS I-NP +successful JJ I-NP +I PRP B-NP +'ve VBP B-VP +had VBD I-VP +in IN B-PP +Hollywood NNP B-NP +. . O +'' '' O + +The DT B-NP +two CD I-NP +`` `` O +have VBP B-VP +a DT B-NP +wonderful JJ I-NP +chemistry NN I-NP +-- : O +Jon NNP B-NP +is VBZ B-VP +very RB B-ADJP +impulsive JJ I-ADJP +, , O +and CC O +Peter NNP B-NP +is VBZ B-VP +very RB B-ADJP +compulsive JJ I-ADJP +, , O +'' '' O +adds VBZ B-VP +Mr. NNP B-NP +Birnbaum NNP I-NP +, , O +who WP B-NP +is VBZ B-VP +now JJ B-ADVP +head NN B-NP +of IN B-PP +production NN B-NP +at IN B-PP +News NNP B-NP +Corp. NNP I-NP +'s POS B-NP +20th NNP I-NP +Century NNP I-NP +Fox NNP I-NP +Film NNP I-NP +Co NNP I-NP +. . O + +`` `` O +Jon NNP B-NP +Peters NNP I-NP +will MD B-VP +come VB I-VP +barreling VBG I-VP +into IN B-PP +a DT B-NP +room NN I-NP +, , O +say VBP B-VP +he PRP B-NP +'s VBZ B-VP +got VBD I-VP +a DT B-NP +great JJ I-NP +idea NN I-NP +, , O +and CC O +be VB B-VP +gone VBN I-VP +. . O + +Peter NNP B-NP +will MD B-VP +take VB I-VP +the DT B-NP +kernel NN I-NP +of IN B-PP +that DT B-NP +idea NN I-NP +and CC O +make VB B-VP +it PRP B-NP +grow VB B-VP +into IN B-PP +something NN B-NP +specific JJ I-NP +... : O +. . O +'' '' O + +Mr. NNP B-NP +Birnbaum NNP I-NP +recalls VBZ B-VP +that IN B-SBAR +Mr. NNP B-NP +Guber NNP I-NP +and CC O +Mr. NNP B-NP +Peters NNP I-NP +shifted VBD B-VP +into IN B-PP +high JJ B-NP +gear NN I-NP +a DT B-NP +few JJ I-NP +years NNS I-NP +back RB B-ADVP +upon IN B-PP +learning VBG B-VP +that IN B-SBAR +they PRP B-NP +had VBD B-VP +competition NN B-NP +for IN B-PP +the DT B-NP +story NN I-NP +of IN B-PP +the DT B-NP +murdered VBN I-NP +naturalist NN I-NP +Dian NNP I-NP +Fossey NNP I-NP +, , O +which WDT B-NP +became VBD B-VP +`` `` O +Gorillas NNP B-NP +in IN B-PP +the DT B-NP +Mist NNP I-NP +. . O +'' '' O + +He PRP B-NP +says VBZ B-VP +, , O +`` `` O +Within IN B-PP +a DT B-NP +few JJ I-NP +weeks NNS I-NP +, , O +we PRP B-NP +made VBD B-VP +deals NNS B-NP +with IN B-PP +the DT B-NP +government NN I-NP +of IN B-PP +Rwanda NNP B-NP +and CC O +everyone NN B-NP +who WP B-NP +had VBD B-VP +ever RB I-VP +met VBN I-VP +or CC O +talked VBD B-VP +to TO B-PP +Dian NNP B-NP +Fossey NNP I-NP +. . O + +I PRP B-NP +think VBP B-VP +Peter NNP B-NP +even RB B-ADVP +made VBD B-VP +some DT B-NP +deals NNS I-NP +with IN B-PP +the DT B-NP +gorillas NNS I-NP +. . O +'' '' O + +Universal NNP B-NP +Studios NNP I-NP +was VBD B-VP +working VBG I-VP +on IN B-PP +a DT B-NP +competing VBG I-NP +film NN I-NP +, , O +but CC O +the DT B-NP +studio NN I-NP +and CC O +its PRP$ B-NP +producers NNS I-NP +ultimately RB B-ADVP +agreed VBD B-VP +to TO I-VP +co-produce VB I-VP +the DT B-NP +film NN I-NP +with IN B-PP +Guber NNP B-NP +Peters NNP I-NP +and CC O +Warner NNP B-NP +. . O + +More RBR B-ADVP +recently RB I-ADVP +, , O +Guber NNP B-NP +Peters NNP I-NP +beat VB B-VP +out RP B-PRT +a DT B-NP +dozen NN I-NP +other JJ I-NP +producers NNS I-NP +, , O +reportedly RB B-ADVP +including VBG B-PP +Robert NNP B-NP +Redford NNP I-NP +and CC O +Ted NNP B-NP +Turner NNP I-NP +, , O +for IN B-PP +rights NNS B-NP +to TO B-PP +the DT B-NP +life NN I-NP +story NN I-NP +of IN B-PP +Chico NNP B-NP +Mendes NNP I-NP +, , O +the DT B-NP +murdered VBN I-NP +Brazilian JJ I-NP +union NN I-NP +leader NN I-NP +who WP B-NP +fought VBD B-VP +developers NNS B-NP +in IN B-PP +the DT B-NP +Amazon NNP I-NP +rain NN I-NP +forest NN I-NP +. . O + +Messrs. NNP B-NP +Guber NNP I-NP +and CC I-NP +Peters NNP I-NP +assiduously RB B-ADVP +courted VBD B-VP +the DT B-NP +man NN I-NP +'s POS B-NP +widow NN I-NP +for IN B-PP +months NNS B-NP +, , O +showing VBG B-VP +her PRP$ B-NP +a DT B-NP +tape NN I-NP +of IN B-PP +`` `` O +Gorillas NNP B-NP +in IN B-PP +the DT B-NP +Mist NNP I-NP +'' '' O +to TO B-VP +impress VB I-VP +her PRP B-NP +with IN B-PP +the DT B-NP +quality NN I-NP +of IN B-PP +their PRP$ B-NP +work NN I-NP +. . O + +Money NNP B-NP +helped VBD B-VP +, , O +too RB B-ADVP +. . O + +Ultimately RB B-ADVP +, , O +they PRP B-NP +paid VBD B-VP +more JJR B-NP +than IN I-NP +$ $ I-NP +1 CD I-NP +million CD I-NP +for IN B-PP +the DT B-NP +rights NNS I-NP +. . O + +-LRB- ( O +The DT B-NP +sale NN I-NP +caused VBD B-VP +a DT B-NP +rift NN I-NP +between IN B-PP +the DT B-NP +widow NN I-NP +and CC O +some DT B-NP +of IN B-PP +her PRP$ B-NP +husband NN I-NP +'s POS B-NP +followers NNS I-NP +. . O + +Some DT B-NP +of IN B-PP +the DT B-NP +money NN I-NP +will MD B-VP +go VB I-VP +to TO B-PP +the DT B-NP +Chico NNP I-NP +Mendes NNP I-NP +Foundation NNP I-NP +, , O +but CC O +it PRP B-NP +is VBZ B-VP +n't RB I-VP +earmarked VBN I-VP +for IN B-PP +groups NNS B-NP +trying VBG B-VP +to TO I-VP +save VB I-VP +the DT B-NP +rain NN I-NP +forest NN I-NP +. . O +-RRB- ) O + +It PRP B-NP +'s VBZ B-VP +hardly RB B-ADJP +astonishing JJ I-ADJP +-LRB- ( O +given VBN B-PP +the DT B-NP +men NNS I-NP +'s POS B-NP +track NN I-NP +record NN I-NP +-RRB- ) O +that IN B-SBAR +Sony NNP B-NP +wants VBZ B-VP +Mr. NNP B-NP +Guber NNP I-NP +and CC O +Mr. NNP B-NP +Peters NNP I-NP +. . O + +But CC O +it PRP B-NP +is VBZ B-VP +puzzling JJ B-ADJP +to TO B-PP +some DT B-NP +Hollywood NNP I-NP +executives NNS I-NP +that IN B-SBAR +Sony NNP B-NP +rushed VBD B-VP +to TO I-VP +hire VB I-VP +them PRP B-NP +without IN B-PP +clearing VBG B-VP +up IN B-PRT +the DT B-NP +Warner NNP I-NP +situation NN I-NP +first JJ B-ADVP +. . O + +Some DT B-NP +note NN B-VP +that IN B-SBAR +Sony NNP B-NP +might MD B-VP +have VB I-VP +saved VBN I-VP +itself PRP B-NP +some DT B-NP +trouble NN I-NP +by IN B-PP +just RB B-VP +hiring VBG I-VP +Mr. NNP B-NP +Guber NNP I-NP +and CC O +letting VBG B-VP +Mr. NNP B-NP +Peters NNP I-NP +stay VB B-VP +on IN B-PRT +to TO B-VP +fulfill VB I-VP +the DT B-NP +Warner NNP I-NP +contract NN I-NP +. . O + +But CC O +though IN B-SBAR +`` `` O +people NNS B-NP +in IN B-PP +town NN B-NP +may MD B-VP +ask VB I-VP +why WRB B-ADVP +Guber NNP B-NP +needs VBZ B-VP +Peters NNP B-NP +, , O +it PRP B-NP +'s VBZ B-VP +good JJ B-ADJP +to TO B-VP +have VB I-VP +a DT B-NP +partner NN I-NP +, , O +and CC O +obviously RB B-ADVP +the DT B-NP +chemistry NN I-NP +works NNS B-VP +, , O +'' '' O +says VBZ B-VP +Steven NNP B-NP +Tisch NNP I-NP +, , O +a DT B-NP +producer NN I-NP +who WP B-NP +once RB B-ADVP +worked VBD B-VP +for IN B-PP +Mr. NNP B-NP +Guber NNP I-NP +. . O + +`` `` O +This DT B-NP +business NN I-NP +is VBZ B-VP +n't RB O +about IN B-PP +personalities NNS B-NP +at IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +day NN I-NP +-- : O +it PRP B-NP +s PRP B-VP +about IN B-PP +whether IN O +the DT B-NP +ink NN I-NP +is VBZ B-VP +red JJ B-ADJP +or CC I-ADJP +black JJ I-ADJP +. . O + +In IN B-PP +the DT B-NP +case NN I-NP +of IN B-PP +Peter NNP B-NP +and CC I-NP +Jon NNP I-NP +, , O +the DT B-NP +ink NN I-NP +has VBZ B-VP +been VBN I-VP +very RB B-ADJP +, , I-ADJP +very RB I-ADJP +black JJ I-ADJP +. . O +'' '' O + +Mr. NNP B-NP +Guber NNP I-NP +got VBD B-VP +his PRP$ B-NP +start NN I-NP +in IN B-PP +the DT B-NP +movie NN I-NP +business NN I-NP +at IN B-PP +Columbia NNP B-NP +two CD B-NP +decades NNS I-NP +ago RB B-ADVP +. . O + +Recruited VBN B-VP +from IN B-PP +New NNP B-NP +York NNP I-NP +University NNP I-NP +'s POS B-NP +MBA NN I-NP +program NN I-NP +, , O +he PRP B-NP +rose VBD B-VP +within IN B-PP +two CD B-NP +years NNS I-NP +to TO B-PP +head VB B-NP +of IN B-PP +production NN B-NP +, , O +overseeing VBG B-VP +such JJ B-NP +films NNS I-NP +as IN B-PP +`` `` O +The DT B-NP +Way NN I-NP +We PRP B-NP +Were VBD B-VP +, , O +'' '' O +`` `` O +Taxi NN B-NP +Driver NNP I-NP +, , O +'' '' O +`` `` O +Tommy NNP B-NP +'' '' O +and CC O +`` `` O +Shampoo NNP B-NP +. . O +'' '' O + +In IN B-PP +1976 CD B-NP +, , O +he PRP B-NP +teamed VBD B-VP +up IN B-PRT +with IN B-PP +record NN B-NP +producer NN I-NP +Neil NNP I-NP +Bogart NNP I-NP +in IN B-PP +Casablanca NNP B-NP +Records NNPS I-NP +and CC I-NP +Filmworks NNP I-NP +-- : O +later RB B-VP +called VBN I-VP +Polygram NNP B-NP +Pictures NNPS I-NP +-- : O +where WRB B-ADVP +they PRP B-NP +produced VBD B-VP +such JJ B-NP +hits NNS I-NP +as IN B-PP +as IN B-PP +`` `` O +The DT B-NP +Deep NNP I-NP +, , O +'' '' O +and CC O +`` `` O +Midnight NNP B-NP +Express NNP I-NP +. . O +'' '' O + +In IN B-PP +1980 CD B-NP +, , O +Mr. NNP B-NP +Guber NNP I-NP +got VBD B-VP +together RB B-PRT +with IN B-PP +Mr. NNP B-NP +Peters NNP I-NP +, , O +by IN B-PP +then RB B-ADVP +a DT B-NP +successful JJ I-NP +producer NN I-NP +in IN B-PP +his PRP$ B-NP +own JJ I-NP +right NN I-NP +, , O +after IN B-PP +the DT B-NP +death NN I-NP +of IN B-PP +Mr. NNP B-NP +Bogart NNP I-NP +. . O + +While IN B-SBAR +Guber NNP B-NP +Peters NNP I-NP +produced VBD B-VP +a DT B-NP +number NN I-NP +of IN B-PP +hits NNS B-NP +for IN B-PP +Warner NNP B-NP +and CC I-NP +others NNS I-NP +, , O +their PRP$ B-NP +record NN I-NP +was VBD B-VP +n't RB O +always RB B-ADVP +so RB B-ADJP +impressive JJ I-ADJP +. . O + +Among IN B-PP +their PRP$ B-NP +clinkers NNS I-NP +were VBD B-VP +`` `` O +The DT B-NP +Legend NNP I-NP +of IN B-PP +Billie NNP B-NP +Jean NNP I-NP +, , O +'' '' O +`` `` O +VisionQuest NNP B-NP +, , O +'' '' O +`` `` O +Clue NNP B-NP +'' '' O +and CC O +`` `` O +Clan NNP B-NP +of IN B-PP +the DT B-NP +Cave NNP I-NP +Bear NNP I-NP +. . O +'' '' O + +And CC O +the DT B-NP +failures NNS I-NP +make VBP B-VP +it PRP B-NP +possible JJ B-ADJP +for IN B-SBAR +Warner NNP B-NP +in IN B-PP +its PRP$ B-NP +current JJ I-NP +lawsuit NN I-NP +to TO B-VP +paint VB I-VP +the DT B-NP +producers NNS I-NP +as IN B-PP +ingrates NNS B-NP +. . O + +The DT B-NP +studio NN I-NP +says VBZ B-VP +it PRP B-NP +stuck VBD B-VP +with IN B-PP +them PRP B-NP +`` `` O +even RB B-ADVP +in IN B-PP +the DT B-NP +early JJ I-NP +years NNS I-NP +when WRB B-ADVP +the DT B-NP +creative JJ I-NP +partnership NN I-NP +was VBD B-VP +not RB O +particularly RB B-ADJP +profitable JJ I-ADJP +for IN B-PP +Warner NNP B-NP +. . O +'' '' O + +Mr. NNP B-NP +Guber NNP I-NP +replies VBZ B-VP +that IN B-SBAR +`` `` O +this DT B-NP +is VBZ B-VP +a DT B-NP +Goliath NNP I-NP +, , O +this DT B-NP +Time NNP I-NP +Warner NNP I-NP +, , O +trying VBG B-VP +to TO I-VP +chew VB I-VP +up IN B-PRT +two CD B-NP +fellows NNS I-NP +who WP B-NP +have VBP B-VP +done VBN I-VP +only RB B-ADVP +well RB I-ADVP +for IN B-PP +them PRP B-NP +for IN B-PP +a DT B-NP +long JJ I-NP +period NN I-NP +of IN B-PP +time NN B-NP +. . O +'' '' O + +Mr. NNP B-NP +Guber NNP I-NP +and CC O +Mr. NNP B-NP +Peters NNP I-NP +maintain VB B-VP +that IN B-SBAR +executives NNS B-NP +at IN B-PP +Warner NNP B-NP +have VBP B-VP +always RB I-VP +known VBN I-VP +of IN B-PP +their PRP$ B-NP +ambitions NNS I-NP +to TO B-VP +run VB I-VP +a DT B-NP +major JJ I-NP +entertainment NN I-NP +powerhouse NN I-NP +, , O +but CC O +that IN B-SBAR +Warner NNP B-NP +never RB B-ADVP +felt VBD B-VP +threatened VBN I-VP +until IN B-SBAR +they PRP B-NP +linked VBD B-VP +up IN B-PRT +with IN B-PP +Sony NNP B-NP +. . O + +`` `` O +From IN B-PP +the DT B-NP +beginning NN I-NP +, , O +-LCB- ( O +they PRP B-NP +-RCB- ) O +knew VBD B-VP +we PRP B-NP +had VBD B-VP +a DT B-NP +goal NN I-NP +and CC O +a DT B-NP +dream NN I-NP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Guber NNP I-NP +. . O + +On IN B-PP +a DT B-NP +number NN I-NP +of IN B-PP +occasions NNS B-NP +, , O +he PRP B-NP +adds VBZ B-VP +, , O +he PRP B-NP +tried VBD B-VP +to TO I-VP +get VB I-VP +Warner NNP B-NP +to TO B-VP +buy VB I-VP +Guber NNP B-NP +Peters NNP I-NP +outright JJ B-ADVP +. . O + +`` `` O +They PRP B-NP +always RB B-ADVP +listened VBD B-VP +, , O +but CC O +they PRP B-NP +never RB B-ADVP +acted VBD B-VP +, , O +'' '' O +Mr. NNP B-NP +Guber NNP I-NP +says VBZ B-VP +. . O + +In IN B-PP +1987 CD B-NP +, , O +Mr. NNP B-NP +Guber NNP I-NP +and CC O +Mr. NNP B-NP +Peters NNP I-NP +contributed VBD B-VP +their PRP$ B-NP +company NN I-NP +'s POS B-NP +assets NNS I-NP +in IN B-PP +exchange NN B-NP +for IN B-PP +a DT B-NP +28 CD I-NP +% NN I-NP +stake NN I-NP +in IN B-PP +Barris NNP B-NP +Entertainment NNP I-NP +, , O +a DT B-NP +small-fry JJ I-NP +TV NN I-NP +production NN I-NP +company NN I-NP +controlled VBN B-VP +by IN B-PP +Giant NNP B-NP +Industries NNP I-NP +Inc. NNP I-NP +Chairman NNP I-NP +Burt NNP I-NP +Sugarman NNP I-NP +. . O + +In IN B-PP +July NNP B-NP +a DT B-NP +year NN I-NP +later RB B-ADVP +, , O +Warner NNP B-NP +agreed VBD B-VP +to TO I-VP +release VB I-VP +the DT B-NP +producers NNS I-NP +from IN B-PP +their PRP$ B-NP +old JJ I-NP +contract NN I-NP +when WRB B-ADVP +Messrs. NNP B-NP +Guber NNP I-NP +, , I-NP +Peters NNP I-NP +and CC I-NP +Sugarman NNP I-NP +made VBD B-VP +a DT B-NP +$ $ I-NP +100 CD I-NP +million CD I-NP +offer NN I-NP +to TO B-VP +buy VB I-VP +25 CD B-NP +% NN I-NP +of IN B-PP +MGM\/UA NNP B-NP +. . O + +Mr. NNP B-NP +Guber NNP I-NP +and CC O +Mr. NNP B-NP +Peters NNP I-NP +planned VBD B-VP +to TO I-VP +run VB I-VP +the DT B-NP +nearly RB I-NP +dormant JJ I-NP +MGM NNP I-NP +studio NN I-NP +, , O +and CC O +the DT B-NP +two CD I-NP +even RB B-ADVP +tried VBD B-VP +to TO I-VP +interest VB I-VP +Warner NNP B-NP +Bros NNP I-NP +. . O +' '' O +President NNP B-NP +Terry NNP I-NP +Semel NNP I-NP +in IN B-PP +becoming VBG B-VP +a DT B-NP +partner NN I-NP +after IN B-SBAR +he PRP B-NP +advised VBD B-VP +them PRP B-NP +on IN B-PP +the DT B-NP +deal NN I-NP +. . O + +But CC O +the DT B-NP +MGM NNP I-NP +plan NN I-NP +collapsed VBD B-VP +just RB B-NP +two CD I-NP +weeks NNS I-NP +later RB B-ADVP +. . O + +Mr. NNP B-NP +Guber NNP I-NP +and CC O +Mr. NNP B-NP +Peters NNP I-NP +say VBP B-VP +they PRP B-NP +got VBD B-VP +a DT B-NP +look NN I-NP +at IN B-PP +the DT B-NP +books NNS I-NP +and CC O +balked VBD B-VP +at IN B-PP +the DT B-NP +price NN I-NP +. . O + +Their PRP$ B-NP +relationship NN I-NP +with IN B-PP +Mr. NNP B-NP +Sugarman NNP I-NP +soured VBD B-VP +shortly RB B-ADVP +thereafter RB I-ADVP +. . O + +Last NNP B-NP +May NNP I-NP +, , O +he PRP B-NP +sold VBD B-VP +his PRP$ B-NP +24 CD I-NP +% NN I-NP +stake NN I-NP +in IN B-PP +Barris NNP B-NP +to TO B-PP +a DT B-NP +passive JJ I-NP +Australian JJ I-NP +investor NN I-NP +and CC O +Barris NNP B-NP +was VBD B-VP +renamed VBN I-VP +Guber NNP B-NP +Peters NNP I-NP +Entertainment NNP I-NP +Co NNP I-NP +. . O + +Meanwhile RB B-ADVP +, , O +Mr. NNP B-NP +Guber NNP I-NP +and CC O +Mr. NNP B-NP +Peters NNP I-NP +had VBD B-VP +agreed VBN I-VP +to TO I-VP +extend VB I-VP +their PRP$ B-NP +Warner NNP I-NP +agreement NN I-NP +with IN B-PP +the DT B-NP +new JJ I-NP +five-year JJ I-NP +exclusive JJ I-NP +contract NN I-NP +. . O + +The DT B-NP +new JJ I-NP +deal NN I-NP +was VBD B-VP +considered VBN I-VP +the DT B-NP +most RBS I-NP +generous JJ I-NP +of IN B-PP +its PRP$ B-NP +kind NN I-NP +, , O +both DT O +financially RB B-ADVP +and CC O +in IN B-PP +terms NNS B-NP +of IN B-PP +creative JJ B-NP +freedom NN I-NP +. . O + +But CC O +it PRP B-NP +paled VBN B-VP +by IN B-PP +comparison NN B-NP +to TO B-PP +what WP B-NP +Sony NNP B-NP +was VBD B-VP +to TO I-VP +offer VB I-VP +last JJ B-NP +month NN I-NP +: : O +the DT B-NP +chance NN I-NP +, , O +at IN B-PP +last JJ B-ADJP +, , O +to TO B-VP +run VB I-VP +a DT B-NP +major JJ I-NP +studio NN I-NP +, , O +about RB B-NP +$ $ I-NP +50 CD I-NP +million CD I-NP +in IN B-PP +deferred VBN B-NP +compensation NN I-NP +, , O +up IN B-NP +to TO I-NP +10 CD I-NP +% NN I-NP +of IN B-PP +Columbia NNP B-NP +'s POS B-NP +future NN I-NP +cash NN I-NP +flow NN I-NP +, , O +8 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +future NN I-NP +appreciation NN I-NP +of IN B-PP +Columbia NNP B-NP +'s POS B-NP +market NN I-NP +value NN I-NP +, , O +and CC O +annual JJ B-NP +salaries NNS I-NP +of IN B-PP +$ $ B-NP +2.7 CD I-NP +million CD I-NP +for IN B-PP +each DT B-NP +. . O + +The DT B-NP +producers NNS I-NP +' POS B-NP +28 CD B-ADJP +% NN I-ADJP +share NN B-NP +of IN B-PP +publicly RB B-NP +held VBN I-NP +Guber NNP I-NP +Peters NNP I-NP +would MD B-VP +net VB I-VP +them PRP B-NP +an DT B-NP +additional JJ I-NP +$ $ I-NP +50 CD I-NP +million CD I-NP +. . O + +Sony NNP B-NP +also RB B-ADVP +agreed VBD B-VP +to TO I-VP +indemnify VB I-VP +the DT B-NP +producers NNS I-NP +against IN B-PP +any DT B-NP +liability NN I-NP +to TO B-PP +Warner NNP B-NP +. . O + +Sony NNP B-NP +is VBZ B-VP +paying VBG I-VP +a DT B-NP +hefty JJ I-NP +price NN I-NP +for IN B-PP +a DT B-NP +company NN I-NP +that WDT B-NP +had VBD B-VP +revenue NN B-NP +of IN B-PP +only RB B-NP +$ $ I-NP +42 CD I-NP +million CD I-NP +last JJ B-NP +year NN I-NP +. . O + +And CC O +earnings NNS B-NP +have NN B-VP +been VBN I-VP +erratic JJ B-ADJP +. . O + +In IN B-PP +the DT B-NP +the DT I-NP +latest JJS I-NP +quarter NN I-NP +, , O +thanks VBZ B-ADVP +in IN B-PP +part NN B-NP +to TO B-PP +`` `` O +Batman NNP B-NP +, , O +'' '' O +Guber NNP B-NP +Peters NNP I-NP +earned VBD B-VP +$ $ B-NP +5.8 CD I-NP +million CD I-NP +, , O +or CC O +50 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +compared VBN B-PP +to TO B-PP +a DT B-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +6.8 CD I-NP +million CD I-NP +, , O +or CC O +62 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +last JJ B-NP +year NN I-NP +'s POS B-NP +quarter NN I-NP +. . O + +Guber NNP B-NP +Peters NNP I-NP +stock NN I-NP +, , O +which WDT B-NP +traded VBD B-VP +as RB B-ADVP +low JJ I-ADVP +as IN B-PP +$ $ B-NP +6 CD I-NP +a DT B-NP +share NN I-NP +last JJ B-NP +year NN I-NP +, , O +closed VBD B-VP +yesterday NN B-NP +at IN B-PP +$ $ B-NP +16.625 CD I-NP +. . O + +The DT B-NP +two CD I-NP +sides NNS I-NP +now RB B-ADVP +are VBP B-VP +accusing VBG I-VP +each DT B-NP +other NN I-NP +of IN B-PP +lying VBG B-NP +. . O + +Mr. NNP B-NP +Guber NNP I-NP +and CC O +Mr. NNP B-NP +Peters NNP I-NP +claim NN B-VP +they PRP B-NP +have VBP B-VP +an DT B-NP +oral JJ I-NP +agreement NN I-NP +with IN B-PP +Warner NNP B-NP +executives NNS I-NP +that WDT B-NP +allows VBZ B-VP +them PRP B-NP +to TO B-VP +terminate VB I-VP +their PRP$ B-NP +contract NN I-NP +should MD O +the DT B-NP +opportunity NN I-NP +to TO B-VP +run VB I-VP +a DT B-NP +major JJ I-NP +studio NN I-NP +arise VB B-VP +. . O + +But CC O +in IN B-PP +affidavits NNS B-NP +filed VBD B-VP +yesterday NN B-NP +in IN B-PP +the DT B-NP +Los NNP I-NP +Angeles NNP I-NP +court NN I-NP +, , O +Mr. NNP B-NP +Ross NNP I-NP +, , O +Warner NNP B-NP +Bros. NNP I-NP +Chairman NNP I-NP +Robert NNP I-NP +Daly NNP I-NP +and CC O +President NNP B-NP +Semel NNP I-NP +deny VB B-VP +that IN B-SBAR +such JJ B-NP +an DT I-NP +oral JJ I-NP +agreement NN I-NP +was VBD B-VP +ever RB I-VP +made VBN I-VP +. . O + +Warner NNP B-NP +, , O +in IN B-PP +its PRP$ B-NP +court NN I-NP +filings NNS I-NP +, , O +calls VBZ B-VP +it PRP B-NP +`` `` O +a DT B-NP +piece NN I-NP +of IN B-PP +fiction NN B-NP +created VBN B-VP +for IN B-PP +this DT B-NP +litigation NN I-NP +. . O +'' '' O + +Mr. NNP B-NP +Daly NNP I-NP +in IN B-PP +his PRP$ B-NP +affidavit NN I-NP +acknowledges VBZ B-VP +that IN B-SBAR +Warner NNP B-NP +agreed VBD B-VP +to TO I-VP +release VB I-VP +the DT B-NP +producers NNS I-NP +last JJ B-NP +year NN I-NP +to TO B-VP +take VB I-VP +over IN B-PRT +MGM NNP B-NP +but CC O +says VBZ B-VP +that DT B-NP +situation NN I-NP +was VBD B-VP +altogether RB B-ADJP +different JJ I-ADJP +. . O + +For IN B-PP +one CD B-NP +thing NN I-NP +, , O +according VBG B-PP +to TO B-PP +Mr. NNP B-NP +Daly NNP I-NP +, , O +the DT B-NP +producers NNS I-NP +requested VBD B-VP +a DT B-NP +release NN I-NP +in IN B-PP +advance NN B-NP +. . O + +Moreover RB B-ADVP +, , O +the DT B-NP +old JJ I-NP +contract NN I-NP +was VBD B-VP +about IN O +to TO B-VP +expire VB I-VP +, , O +and CC O +the DT B-NP +lineup NN I-NP +of IN B-PP +Guber NNP B-NP +Peters NNP I-NP +pictures NNS I-NP +for IN B-PP +Warner NNP B-NP +was VBD B-VP +n't RB O +as RB B-ADJP +strong JJ I-ADJP +as IN B-SBAR +it PRP B-NP +is VBZ B-VP +now RB B-ADVP +. . O + +Warner NNP B-NP +itself PRP B-NP +was VBD B-VP +in IN B-PP +negotiations NNS B-NP +with IN B-PP +MGM NNP B-NP +over IN B-PP +certain JJ B-NP +movie NN I-NP +and CC I-NP +other JJ I-NP +rights NNS I-NP +, , O +and CC O +it PRP B-NP +was VBD B-VP +`` `` O +in IN B-PP +Warner NNP B-NP +'s POS B-NP +interest NN I-NP +to TO B-VP +accommodate VB I-VP +MGM\/UA NNP B-NP +, , I-NP +Guber NNP I-NP +and CC I-NP +Peters NNP I-NP +by IN B-PP +permitting VBG B-VP +them PRP B-NP +to TO B-VP +become VB I-VP +MGM NNP B-NP +executives NNS I-NP +, , O +'' '' O +Mr. NNP B-NP +Daly NNP I-NP +said VBD B-VP +in IN B-PP +his PRP$ B-NP +affidavit NN I-NP +. . O + +Warner NNP B-NP +obviously RB B-ADVP +does VBZ B-VP +n't RB I-VP +think VB I-VP +that IN B-SBAR +it PRP B-NP +is VBZ B-VP +in IN B-PP +its PRP$ B-NP +own JJ I-NP +interests NNS I-NP +to TO B-VP +let VB I-VP +Mr. NNP B-NP +Guber NNP I-NP +and CC O +Mr. NNP B-NP +Peters NNP I-NP +go VB B-VP +off IN B-PP +to TO B-PP +Columbia NNP B-NP +. . O + +At IN B-PP +the DT B-NP +very RB I-NP +least JJS I-NP +, , O +Mr. NNP B-NP +Ross NNP I-NP +clearly RB B-ADVP +sees VBZ B-VP +an DT B-NP +opportunity NN I-NP +to TO B-VP +use VB I-VP +the DT B-NP +two CD I-NP +men NNS I-NP +to TO B-VP +get VB I-VP +a DT B-NP +pound NN I-NP +of IN B-PP +flesh NN B-NP +from IN B-PP +Sony NNP B-NP +. . O + +During IN B-PP +settlement NN B-NP +talks NNS I-NP +, , O +for IN B-PP +example NN B-NP +, , O +Warner NNP B-NP +demanded VBD B-VP +such JJ B-NP +things NNS I-NP +as IN B-PP +cable NN B-NP +TV NN I-NP +rights NNS I-NP +to TO B-PP +Columbia NNP B-NP +movies NNS I-NP +and CC O +Columbia NNP B-NP +'s POS B-NP +interest NN I-NP +in IN B-PP +the DT B-NP +studio NN I-NP +it PRP B-NP +jointly RB B-ADVP +owns VBZ B-VP +with IN B-PP +Warner NNP B-NP +, , O +according VBG B-PP +to TO B-PP +executives NNS B-NP +involved VBN B-ADJP +in IN B-PP +the DT B-NP +talks NNS I-NP +. . O + +In IN B-PP +any DT B-NP +settlement NN I-NP +, , O +Warner NNP B-NP +is VBZ B-VP +almost RB B-ADJP +certain JJ I-ADJP +to TO B-VP +demand VB I-VP +rights NNS B-NP +to TO B-PP +most RBS B-NP +of IN B-PP +the DT B-NP +50 CD I-NP +or CC I-NP +so RB I-NP +projects VBZ I-NP +Mr. NNP B-NP +Guber NNP I-NP +and CC O +Mr. NNP B-NP +Peters NNP I-NP +have VBP B-VP +locked VBN I-VP +up IN B-PRT +for IN B-PP +the DT B-NP +next JJ I-NP +few JJ I-NP +years NNS I-NP +, , O +notably RB B-ADVP +sequels NNS B-NP +to TO B-PP +`` `` O +Batman NNP B-NP +. . O +'' '' O + +Mr. NNP B-NP +Guber NNP I-NP +and CC O +Mr. NNP B-NP +Peters NNP I-NP +refuse VB B-VP +to TO I-VP +concede VB I-VP +that IN B-SBAR +they PRP B-NP +may MD B-VP +have VB I-VP +made VBN I-VP +a DT B-NP +tactical JJ I-NP +error NN I-NP +in IN B-PP +accepting VBG B-VP +the DT B-NP +Sony NNP I-NP +offer NN I-NP +before IN B-PP +taking VBG B-VP +it PRP B-NP +up IN B-PRT +with IN B-PP +Warner NNP B-NP +. . O + +And CC O +they PRP B-NP +say VBP B-VP +there EX B-NP +are VBP B-VP +plenty NN B-NP +of IN B-PP +precedents NNS B-NP +in IN B-PP +Hollywood NNP B-NP +for IN B-PP +letting VBG B-VP +people NNS B-NP +out IN B-PP +of IN B-PP +contracts NNS B-NP +. . O + +The DT B-NP +last JJ I-NP +time NN I-NP +Columbia NNP B-NP +Pictures NNPS I-NP +was VBD B-VP +looking VBG I-VP +for IN B-PP +a DT B-NP +studio NN I-NP +chief NN I-NP +, , O +they PRP B-NP +note VBP B-VP +, , O +Warner NNP B-NP +released VBD B-VP +producer NN B-NP +David NNP I-NP +Puttnam NNP I-NP +from IN B-PP +his PRP$ B-NP +contract NN I-NP +, , O +then RB O +took VBD B-VP +him PRP B-NP +back RB B-ADVP +after IN B-SBAR +he PRP B-NP +was VBD B-VP +subsequently RB I-VP +fired VBN I-VP +by IN B-PP +his PRP$ B-NP +bosses NNS I-NP +at IN B-PP +Columbia NNP B-NP +. . O + +In IN B-PP +his PRP$ B-NP +affidavit NN I-NP +filed VBD B-VP +yesterday NN B-NP +, , O +Warner NNP B-NP +'s POS B-NP +Mr. NNP I-NP +Ross NNP I-NP +indicated VBD B-VP +he PRP B-NP +is VBZ B-VP +n't RB I-VP +buying VBG I-VP +any DT B-NP +such JJ I-NP +argument NN I-NP +: : O +`` `` O +If IN B-SBAR +Sony NNP B-NP +succeeds VBZ B-VP +here RB B-ADVP +, , O +no DT B-NP +written VBN I-NP +contract NN I-NP +in IN B-PP +Hollywood NNP B-NP +will MD B-VP +be VB I-VP +worth JJ B-PP +the DT B-NP +paper NN I-NP +it PRP B-NP +'s VBZ B-VP +written VBN I-VP +on RB B-PP +. . O + +THE DT B-NP +SALES NNP I-NP +PITCH NNP I-NP +could MD B-VP +n't RB I-VP +sound VB I-VP +better JJR B-ADJP +. . O + +First RB B-ADVP +, , O +there EX B-NP +'s VBZ B-VP +the DT B-NP +name NN I-NP +: : O +`` `` O +asset-backed JJ B-NP +securities NNS I-NP +. . O +'' '' O + +Better NNP B-ADJP +than IN B-PP +all PDT B-NP +those DT I-NP +offers VBZ I-NP +you PRP B-NP +get VBP B-VP +to TO B-VP +buy VB I-VP +securities NNS B-NP +backed VBN B-VP +by IN B-PP +nothing NN B-NP +. . O + +And CC O +there EX B-NP +'s VBZ B-VP +more JJR B-ADJP +. . O + +The DT B-NP +assets NNS I-NP +backing VBG B-VP +the DT B-NP +securities NNS I-NP +come VBP B-VP +from IN B-PP +some DT B-NP +of IN B-PP +the DT B-NP +country NN I-NP +'s POS B-NP +biggest JJS B-ADJP +-- : O +and CC O +most RBS B-ADJP +secure VB I-ADJP +-- : O +institutions NNS B-NP +. . O + +Most JJS B-NP +earn VB B-VP +high JJ B-NP +ratings NNS I-NP +from IN B-PP +credit NN B-NP +agencies NNS I-NP +. . O + +Their PRP$ B-NP +yields NNS I-NP +are VBP B-VP +higher JJR B-ADJP +than IN B-PP +those DT B-NP +of IN B-PP +U.S. NNP B-NP +Treasury NNP I-NP +issues NNS I-NP +. . O + +And CC O +the DT B-NP +booming JJ I-NP +market NN I-NP +has VBZ B-VP +already RB I-VP +attracted VBN I-VP +many NN B-NP +of IN B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +biggest JJS I-NP +institutional JJ I-NP +investors NNS I-NP +. . O + +Ready JJ B-ADJP +to TO B-VP +jump VB I-VP +? . O + +Well UH B-INTJ +, , O +think VBP B-VP +twice RB B-ADVP +. . O + +The DT B-NP +concept NN I-NP +may MD B-VP +be VB I-VP +simple JJ B-ADJP +: : O +Take VB B-VP +a DT B-NP +bunch NN I-NP +of IN B-PP +loans NNS B-NP +, , O +tie NN B-VP +them PRP B-NP +up IN B-PRT +in IN B-PP +one CD B-NP +neat JJ I-NP +package NN I-NP +, , O +and CC O +sell VB B-VP +pieces NNS B-NP +of IN B-PP +the DT B-NP +package NN I-NP +to TO B-PP +investors NNS B-NP +. . O + +But CC O +the DT B-NP +simplicity NN I-NP +may MD B-VP +be VB I-VP +misleading JJ B-ADJP +. . O + +Skeptics NNS B-NP +say VBP B-VP +the DT B-NP +slightly RB I-NP +higher JJR I-NP +returns NNS I-NP +are VBP B-VP +n't RB O +enough RB B-ADJP +to TO B-VP +compensate VB I-VP +for IN B-PP +the DT B-NP +extra JJ I-NP +risk NN I-NP +. . O + +They PRP B-NP +warn VBP B-VP +that IN B-SBAR +asset-backed JJ B-NP +securities NNS I-NP +are VBP B-VP +only RB B-ADVP +as RB B-ADJP +good JJ I-ADJP +as IN B-PP +the DT B-NP +assets NNS I-NP +and CC I-NP +credit NN I-NP +backing VBG I-NP +that DT B-NP +support NN B-VP +them PRP B-NP +-- : O +and CC O +those DT B-NP +are VBP B-VP +hard JJ B-ADJP +to TO B-VP +evaluate VB I-VP +. . O + +Moreover RB B-ADVP +, , O +the DT B-NP +securities NNS I-NP +were VBD B-VP +introduced VBN I-VP +only RB B-NP +about IN I-NP +4 CD I-NP +1\/2 CD I-NP +years NNS I-NP +ago RB B-ADVP +; : O +the DT B-NP +biggest JJS I-NP +unknown NN I-NP +is VBZ B-VP +how WRB B-ADVP +they PRP B-NP +will MD B-VP +fare VB I-VP +in IN B-PP +a DT B-NP +recession NN I-NP +. . O + +`` `` O +A DT B-NP +lot NN I-NP +of IN B-PP +this DT B-NP +stuff NN I-NP +really RB B-ADVP +is VBZ B-VP +in IN B-PP +untested JJ B-NP +waters NNS I-NP +, , O +'' '' O +says VBZ B-VP +Owen NNP B-NP +Carney NNP I-NP +, , O +director NN B-NP +of IN B-PP +the DT B-NP +investment NN I-NP +securities NNS I-NP +division NN I-NP +of IN B-PP +the DT B-NP +U.S. NNP I-NP +comptroller NN I-NP +of IN B-PP +the DT B-NP +currency NN I-NP +. . O + +`` `` O +We PRP B-NP +do VBP B-VP +n't RB I-VP +know VB I-VP +how WRB B-ADVP +this DT B-NP +whole JJ I-NP +market NN I-NP +will MD B-VP +work VB I-VP +in IN B-PP +a DT B-NP +serious JJ I-NP +economic JJ I-NP +downturn NN I-NP +. . O +'' '' O + +Such JJ B-NP +concerns NNS I-NP +, , O +however RB B-ADVP +, , O +have VBP B-VP +n't RB I-VP +stopped VBN I-VP +asset-backed JJ B-NP +securities NNS I-NP +from IN B-PP +becoming VBG B-VP +one CD B-NP +of IN B-PP +Wall NNP B-NP +Street NNP I-NP +'s POS B-NP +hottest JJS I-NP +new JJ I-NP +products NNS I-NP +. . O + +Since IN B-PP +the DT B-NP +spring NN I-NP +of IN B-PP +1985 CD B-NP +, , O +financial JJ B-NP +alchemists NNS I-NP +have VBP B-VP +transformed VBN I-VP +a DT B-NP +wide JJ I-NP +variety NN I-NP +of IN B-PP +debt NN B-NP +into IN B-PP +these DT B-NP +new JJ I-NP +securities NNS I-NP +. . O + +They PRP B-NP +have VBP B-VP +sold VBN I-VP +issues NNS B-NP +backed VBN B-VP +by IN B-PP +car NN B-NP +loans NNS I-NP +, , O +boat NN B-NP +loans NNS I-NP +and CC O +recreational-vehicle NN B-NP +loans NNS I-NP +. . O + +They PRP B-NP +have VBP B-VP +offered VBN I-VP +bundles NNS B-NP +of IN B-PP +homeequity NN B-NP +loans NNS I-NP +, , O +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +packages NNS B-NP +of IN B-PP +loans NNS B-NP +used VBN B-VP +to TO B-VP +buy VB I-VP +vacation NN B-NP +time-shares NNS I-NP +. . O + +Last JJ B-NP +year NN I-NP +, , O +there EX B-NP +was VBD B-VP +an DT B-NP +issue NN I-NP +of IN B-PP +`` `` O +death-backed JJ B-NP +bonds NNS I-NP +'' '' O +-- : O +securities NNS B-NP +backed VBN B-VP +by IN B-PP +loans NNS B-NP +to TO B-PP +life-insurance NN B-NP +policyholders NNS I-NP +. . O + +Some DT B-NP +predict VBP B-VP +there EX B-NP +will MD B-VP +be VB I-VP +`` `` O +Third NNP B-NP +World NNP I-NP +bonds NNS I-NP +, , O +'' '' O +backed VBN B-VP +by IN B-PP +loans NNS B-NP +to TO B-PP +Brazil NNP B-NP +, , O +Argentina NNP B-NP +and CC O +other JJ B-NP +debt-ridden JJ I-NP +nations NNS I-NP +. . O + +And CC O +the DT B-NP +biggest JJS I-NP +volume NN I-NP +this DT B-NP +year NN I-NP +has VBZ B-VP +been VBN I-VP +on IN B-PP +securities NNS B-NP +backed VBN B-VP +by IN B-PP +credit-card NN B-NP +receivables NN I-NP +, , O +sometimes RB B-VP +known VBN I-VP +as IN B-PP +`` `` O +plastic NN B-NP +bonds NNS I-NP +. . O +'' '' O + +`` `` O +This DT B-NP +is VBZ B-VP +the DT B-NP +heyday NN I-NP +of IN B-PP +debt NN B-NP +, , O +'' '' O +says VBZ B-VP +James NNP B-NP +Grant NNP I-NP +, , O +editor NN B-NP +of IN B-PP +Grant NNP B-NP +'s POS B-NP +Interest NNP I-NP +Rate NNP I-NP +Observer NNP I-NP +, , O +a DT B-NP +newsletter NN I-NP +. . O + +`` `` O +Before IN O +the DT B-NP +sun NN I-NP +sets NNS B-VP +on IN B-PP +the DT B-NP +'80s NNS I-NP +, , O +it PRP B-NP +seems VBZ B-VP +nothing NN B-NP +will MD B-VP +be VB I-VP +left VBN I-VP +unhocked VBN I-VP +. . O +'' '' O + +The DT B-NP +result NN I-NP +is VBZ B-VP +a DT B-NP +$ $ I-NP +45 CD I-NP +billion CD I-NP +market NN I-NP +, , O +according VBG B-PP +to TO B-PP +Securities NNP B-NP +Data NNP I-NP +Co NNP I-NP +. . O + +That DT B-NP +includes VBZ B-VP +more JJR B-NP +than IN I-NP +$ $ I-NP +9.5 CD I-NP +billion CD I-NP +issued VBN B-VP +through IN B-PP +August NNP B-NP +of IN B-PP +this DT B-NP +year NN I-NP +, , O +up IN B-ADVP +sharply RB B-ADVP +from IN B-PP +$ $ B-NP +6.5 CD I-NP +billion CD I-NP +in IN B-PP +the DT B-NP +comparable JJ I-NP +1988 CD I-NP +period NN I-NP +-- : B-ADVP +and CC I-ADVP +more JJR B-ADVP +than IN B-PP +in IN B-PP +all DT B-NP +of IN B-PP +1987 CD B-NP +. . O + +Most JJS B-NP +issues NNS I-NP +have VBP B-VP +been VBN I-VP +sold VBN I-VP +to TO B-PP +professional JJ B-NP +money NN I-NP +managers NNS I-NP +, , O +pension NN B-NP +funds NNS I-NP +, , O +bank NN B-NP +trust NN I-NP +departments NNS I-NP +and CC O +other JJ B-NP +institutions NNS I-NP +. . O + +But CC O +wealthy JJ B-NP +individuals NNS I-NP +also RB B-ADVP +have VBP B-VP +been VBN I-VP +jumping VBG I-VP +in IN B-ADVP +, , O +and CC O +lately RB B-ADVP +brokers NNS B-NP +have VBP B-VP +been VBN I-VP +pushing VBG I-VP +smaller JJR B-NP +investors NNS I-NP +into IN B-PP +the DT B-NP +asset-backed JJ I-NP +market NN I-NP +. . O + +The DT B-NP +entry NN I-NP +fee NN I-NP +is VBZ B-VP +affordable JJ B-ADJP +: : O +Issues NNS B-NP +typically RB B-ADVP +are VBP B-VP +sold VBN I-VP +in IN B-PP +minimum JJ B-NP +denominations NNS I-NP +of IN B-PP +$ $ B-NP +1,000 CD I-NP +. . O + +`` `` O +We PRP B-NP +expect VBP B-VP +additional JJ B-NP +offerings NNS I-NP +'' '' O +of IN B-PP +asset-backed JJ B-NP +securities NNS I-NP +targeted VBN B-VP +toward IN B-PP +individual JJ B-NP +investors NNS I-NP +, , O +says VBZ B-VP +Bill NNP B-NP +Addiss NNP I-NP +, , O +a DT B-NP +senior JJ I-NP +vice NN I-NP +president NN I-NP +at IN B-PP +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +Inc NNP I-NP +. . O + +The DT B-NP +process NN I-NP +typically RB B-ADVP +begins VBZ B-VP +when WRB B-ADVP +an DT B-NP +institution NN I-NP +, , O +such JJ B-PP +as IN I-PP +Citibank NNP B-NP +or CC O +Sears NNP B-NP +, , I-NP +Roebuck NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +takes VBZ B-VP +a DT B-NP +pool NN I-NP +of IN B-PP +credit-card NN B-NP +or CC I-NP +other JJ I-NP +receivables NN I-NP +and CC O +sells VBZ B-VP +them PRP B-NP +to TO B-PP +a DT B-NP +specially RB I-NP +created VBN I-NP +trust NN I-NP +. . O + +The DT B-NP +trust NN I-NP +then RB B-ADVP +issues VBZ B-VP +securities NNS B-NP +-- : O +generally RB B-ADJP +due JJ I-ADJP +in IN B-PP +five CD B-NP +years NNS I-NP +or CC I-NP +less JJR I-NP +-- : O +that WDT B-NP +are VBP B-VP +underwritten VBN I-VP +by IN B-PP +Wall NNP B-NP +Street NNP I-NP +brokerage NN I-NP +firms NNS I-NP +and CC O +offered VBN B-VP +to TO B-PP +investors NNS B-NP +. . O + +Issues NNS B-NP +typically RB B-ADVP +come VBP B-VP +with IN B-PP +`` `` O +credit NN B-NP +enhancements NNS I-NP +, , O +'' '' O +such JJ B-PP +as IN I-PP +a DT B-NP +bank NN I-NP +letter NN I-NP +of IN B-PP +credit NN B-NP +, , O +and CC O +thus RB B-VP +have VBP I-VP +received VBN I-VP +high JJ B-NP +credit NN I-NP +ratings NNS I-NP +. . O + +Enthusiasts NNS B-NP +say VBP B-VP +the DT B-NP +booming JJ I-NP +market NN I-NP +has VBZ B-VP +opened VBN I-VP +up IN B-PRT +a DT B-NP +valuable JJ I-NP +new JJ I-NP +source NN I-NP +of IN B-PP +funds NNS B-NP +to TO B-PP +issuers NNS B-NP +, , O +while IN B-SBAR +providing VBG B-VP +a DT B-NP +valuable JJ I-NP +new JJ I-NP +investment NN I-NP +for IN B-PP +individuals NNS B-NP +and CC I-NP +institutions NNS I-NP +. . O + +Asset-backed JJ B-NP +securities NNS I-NP +`` `` O +are VBP B-VP +an DT B-NP +attractive JJ I-NP +investment NN I-NP +compared VBN B-PP +to TO B-PP +bank VB B-NP +certificates NNS I-NP +of IN B-PP +deposit NN B-NP +or CC O +other JJ B-NP +corporate JJ I-NP +bonds NNS I-NP +, , O +'' '' O +says VBZ B-VP +Craig NNP B-NP +J. NNP I-NP +Goldberg NNP I-NP +, , O +managing VBG B-NP +director NN I-NP +and CC O +head NN B-NP +of IN B-PP +the DT B-NP +asset-backed JJ I-NP +securities NNS I-NP +group VBP I-NP +at IN B-PP +Merrill NNP B-NP +Lynch NNP I-NP +Capital NNP I-NP +Markets NNPS I-NP +. . O + +But CC O +skeptics NNS B-NP +question VBP B-VP +whether IN B-SBAR +asset-backed JJ B-NP +bonds NNS I-NP +offer VBP B-VP +sufficient JJ B-NP +rewards NNS I-NP +to TO B-VP +compensate VB I-VP +for IN B-PP +the DT B-NP +extra JJ I-NP +risks NNS I-NP +. . O + +Consider VB B-VP +a DT B-NP +$ $ I-NP +500 CD I-NP +million CD I-NP +offering NN I-NP +of IN B-PP +9 CD B-NP +% NN I-NP +securities NNS I-NP +issued VBD B-VP +last JJ B-NP +spring NN I-NP +and CC O +backed VBN B-VP +by IN B-PP +Citibank NNP B-NP +credit-card NN I-NP +receivables NN I-NP +. . O + +The DT B-NP +triple-A-rated JJ I-NP +issue NN I-NP +offered VBD B-VP +a DT B-NP +yield NN I-NP +of IN B-PP +only RB B-NP +about IN I-NP +0.5 CD I-NP +percentage NN I-NP +point NN I-NP +above IN B-PP +four-year JJ B-NP +Treasury NNP I-NP +issues NNS I-NP +. . O + +On IN B-PP +a DT B-NP +$ $ I-NP +10,000 CD I-NP +investment NN I-NP +, , O +that DT B-NP +'s VBZ B-VP +a DT B-NP +difference NN I-NP +of IN B-PP +only RB B-NP +$ $ I-NP +50 CD I-NP +a DT B-NP +year NN I-NP +. . O + +That DT B-NP +kind NN I-NP +of IN B-PP +spread NN B-NP +can MD B-VP +be VB I-VP +critical JJ B-ADJP +for IN B-PP +money NN B-NP +managers NNS I-NP +who WP B-NP +buy VBP B-VP +bonds NNS B-NP +in IN B-PP +large JJ B-NP +quantities NNS I-NP +and CC O +whose WP$ B-NP +livelihood NN I-NP +depends VBZ B-VP +on IN B-PP +outperforming VBG B-VP +the DT B-NP +money NN I-NP +manager NN I-NP +across IN B-PP +the DT B-NP +street NN I-NP +. . O + +But CC O +for IN B-PP +individuals NNS B-NP +who WP B-NP +buy VBP B-VP +much RB B-NP +smaller JJR I-NP +amounts NNS I-NP +and CC O +care NN B-VP +less JJR B-ADVP +about IN B-PP +relative JJ B-NP +performance NN I-NP +than IN B-PP +in IN B-PP +preserving VBG B-VP +what WP B-NP +they PRP B-NP +have VBP B-VP +, , O +that DT B-NP +margin NN I-NP +is VBZ B-VP +meaningless JJ B-ADJP +. . O + +`` `` O +If IN B-SBAR +you PRP B-NP +'re VBP B-VP +in IN B-PP +the DT B-NP +bond NN I-NP +business NN I-NP +playing VBG B-VP +the DT B-NP +relative-performance JJ I-NP +derby NN I-NP +, , O +then RB B-ADVP +even RB B-NP +an DT I-NP +extra JJ I-NP +25 CD I-NP +basis NN I-NP +points NNS I-NP +-LRB- ( O +0.25 CD B-NP +percentage NN I-NP +point NN I-NP +-RRB- ) O +becomes VBZ B-VP +an DT B-NP +important JJ I-NP +consideration NN I-NP +on IN B-PP +a DT B-NP +career NN I-NP +basis NN I-NP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Grant NNP I-NP +. . O + +`` `` O +But CC O +if IN B-SBAR +you PRP B-NP +'re VBP B-VP +an DT B-NP +individual JJ I-NP +investing NN B-VP +money NN B-NP +and CC O +trying VBG B-VP +to TO I-VP +get VB I-VP +it PRP B-NP +back RB B-PRT +again RB B-ADVP +, , O +then RB B-ADVP +that WDT B-NP +is VBZ B-VP +n't RB O +of IN B-PP +overwhelming JJ B-NP +importance NN I-NP +. . O +'' '' O + +Moreover RB B-ADVP +, , O +the DT B-NP +interest NN I-NP +on IN B-PP +asset-backed JJ B-NP +securities NNS I-NP +is VBZ B-VP +fully RB B-ADJP +taxable JJ I-ADJP +, , O +while IN B-SBAR +interest NN B-NP +on IN B-PP +Treasury NNP B-NP +issues NNS I-NP +is VBZ B-VP +tax-free JJ B-ADJP +at IN B-PP +the DT B-NP +state NN I-NP +and CC I-NP +local JJ I-NP +level NN I-NP +. . O + +That DT B-NP +'s VBZ B-VP +why WRB B-ADVP +some DT B-NP +investment NN I-NP +managers NNS I-NP +, , O +such JJ B-PP +as IN I-PP +Alex NNP B-NP +Powers NNP I-NP +, , O +a DT B-NP +vice NN I-NP +president NN I-NP +of IN B-PP +Chase NNP B-NP +Manhattan NNP I-NP +Bank NNP I-NP +'s POS B-NP +private JJ I-NP +banking NN I-NP +division NN I-NP +, , O +do VBP B-VP +n't RB I-VP +recommend VB I-VP +most RBS B-NP +asset-backed JJ I-NP +issues NNS I-NP +for IN B-PP +individuals NNS B-NP +in IN B-PP +high-tax JJ B-NP +states NNS I-NP +, , O +such JJ B-PP +as IN I-PP +New NNP B-NP +York NNP I-NP +or CC O +California NNP B-NP +. . O + +But CC O +Mr. NNP B-NP +Powers NNP I-NP +has VBZ B-VP +purchased VBN I-VP +asset-backed JJ B-NP +issues NNS I-NP +for IN B-PP +individuals NNS B-NP +with IN B-PP +tax-deferred JJ B-NP +accounts NNS I-NP +, , O +such JJ B-PP +as IN I-PP +retirement NN B-NP +plans NNS I-NP +. . O + +He PRP B-NP +points VBZ B-VP +out RP B-PRT +that IN B-SBAR +institutions NNS B-NP +buying VBG B-VP +asset-backed JJ B-NP +issues NNS I-NP +in IN B-PP +large JJ B-NP +quantities NNS I-NP +can MD B-VP +earn VB I-VP +higher JJR B-NP +spreads VBZ I-NP +over IN B-PP +Treasurys NNPS B-NP +than IN B-PP +individuals NNS B-NP +buying VBG B-VP +smaller JJR B-NP +amounts NNS I-NP +. . O + +Another DT B-NP +concern NN I-NP +is VBZ B-VP +liquidity NN B-NP +, , O +or CC O +how WRB B-ADVP +easily RB I-ADVP +a DT B-NP +security NN I-NP +can MD B-VP +be VB I-VP +converted VBN I-VP +into IN B-PP +cash NN B-NP +. . O + +The DT B-NP +secondary JJ I-NP +, , I-NP +or CC I-NP +resale NN I-NP +, , I-NP +market NN I-NP +for IN B-PP +asset-backed JJ B-NP +securities NNS I-NP +is VBZ B-VP +relatively RB B-ADJP +new JJ I-ADJP +and CC O +much RB B-ADJP +less RBR I-ADJP +active JJ I-ADJP +than IN B-PP +for IN B-PP +Treasury NNP B-NP +issues NNS I-NP +. . O + +That DT B-NP +could MD B-VP +make VB I-VP +it PRP B-NP +tricky JJ B-ADJP +for IN B-PP +investors NNS B-NP +who WP B-NP +need VBP B-VP +to TO I-VP +sell VB I-VP +their PRP$ B-NP +holdings NNS I-NP +quickly RB B-ADVP +before IN B-SBAR +the DT B-NP +securities NNS I-NP +mature JJ B-VP +. . O + +That DT B-NP +'s VBZ B-VP +particularly RB B-ADJP +true JJ I-ADJP +, , O +analysts NNS B-NP +say VBP B-VP +, , O +for IN B-PP +certain JJ B-NP +of IN B-PP +the DT B-NP +securities NNS I-NP +, , O +such JJ B-PP +as IN I-PP +those DT B-NP +backed VBN B-VP +by IN B-PP +time-share JJ B-NP +loans NNS I-NP +. . O + +`` `` O +You PRP B-NP +could MD B-VP +see VB I-VP +massive JJ B-NP +gyrations NNS I-NP +here RB B-ADVP +because IN B-SBAR +it PRP B-NP +'s VBZ B-VP +such JJ B-NP +a DT I-NP +thinly RB I-NP +traded VBN I-NP +market NN I-NP +, , O +'' '' O +says VBZ B-VP +Jonathan NNP B-NP +S. NNP I-NP +Paris NNP I-NP +, , O +a DT B-NP +vice NN I-NP +president NN I-NP +of IN B-PP +European JJ B-NP +Investors NNP I-NP +Inc. NNP I-NP +, , O +a DT B-NP +New NNP I-NP +York NNP I-NP +investment-management NN I-NP +firm NN I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +an DT B-NP +investor NN I-NP +who WP B-NP +wants VBZ B-VP +to TO I-VP +know VB I-VP +the DT B-NP +daily JJ I-NP +value NN I-NP +of IN B-PP +Treasury NNP B-NP +bonds NNS I-NP +, , O +or CC O +corporate JJ B-NP +bonds NNS I-NP +traded VBN B-VP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +, , O +can MD B-VP +simply RB I-VP +check VB I-VP +newspaper NN B-NP +listings NNS I-NP +. . O + +There EX B-NP +are VBP B-VP +n't RB O +any DT B-NP +such JJ I-NP +listings NNS I-NP +for IN B-PP +asset-backed JJ B-NP +securities NNS I-NP +. . O + +Evaluating VBG B-VP +asset-backed JJ B-NP +securities NNS I-NP +poses VBZ B-VP +another DT B-NP +problem NN I-NP +. . O + +Investors NNS B-NP +, , O +for IN B-PP +instance NN B-NP +, , O +may MD B-VP +mistakenly RB I-VP +assume VB I-VP +that IN B-SBAR +the DT B-NP +bank NN I-NP +or CC I-NP +company NN I-NP +that IN B-NP +originally RB B-ADVP +held VBN B-VP +the DT B-NP +assets NNS I-NP +is VBZ B-VP +guaranteeing VBG I-VP +the DT B-NP +securities NNS I-NP +. . O + +It PRP B-NP +is VBZ B-VP +n't RB O +. . O + +The DT B-NP +front NN I-NP +cover NN I-NP +of IN B-PP +the DT B-NP +prospectus NN I-NP +for IN B-PP +the DT B-NP +Citibank NNP I-NP +credit-card NN I-NP +receivables NN I-NP +offering NN I-NP +points NNS B-VP +out IN B-PRT +in IN B-PP +bold JJ B-NP +capital NN I-NP +letters NNS I-NP +that IN B-SBAR +the DT B-NP +certificates NNS I-NP +represent VBP B-VP +an DT B-NP +interest NN I-NP +only RB B-ADVP +in IN B-PP +the DT B-NP +specially RB I-NP +created VBN I-NP +trust NN I-NP +and CC O +`` `` O +do VBP B-VP +not RB I-VP +represent VB I-VP +interests NNS B-NP +in IN B-PP +or CC O +obligations NNS B-NP +of IN B-PP +the DT B-NP +banks NNS I-NP +, , O +Citibank NNP B-NP +N.A. NNP I-NP +, , O +Citicorp NNP B-NP +or CC O +any DT B-NP +affiliate NN I-NP +thereof RB I-NP +. . O +'' '' O + +In IN B-PP +other JJ B-NP +words NNS I-NP +, , O +if IN B-SBAR +there EX B-NP +'s VBZ B-VP +a DT B-NP +problem NN I-NP +, , O +do VBP B-VP +n't RB I-VP +expect VB I-VP +Citibank NNP B-NP +to TO B-VP +come VB I-VP +to TO B-PP +the DT B-NP +rescue NN I-NP +. . O + +The DT B-NP +prospectus NN I-NP +also RB B-ADVP +notes VBZ B-VP +that IN B-SBAR +the DT B-NP +securities NNS I-NP +are VBP B-VP +not RB I-VP +guaranteed VBN I-VP +by IN B-PP +any DT B-NP +government NN I-NP +agency NN I-NP +. . O + +That DT B-NP +means VBZ B-VP +investors NNS B-NP +have VBP B-VP +to TO I-VP +focus VB I-VP +on IN B-PP +the DT B-NP +quality NN I-NP +of IN B-PP +the DT B-NP +debt NN I-NP +that WDT B-NP +lies VBZ B-VP +beneath IN B-PP +the DT B-NP +securities NNS I-NP +, , O +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +on IN B-PP +the DT B-NP +credit NN I-NP +enhancement NN I-NP +for IN B-PP +the DT B-NP +issue NN I-NP +and CC O +the DT B-NP +credit NN I-NP +ratings NNS I-NP +the DT B-NP +issue NN I-NP +has VBZ B-VP +received VBN I-VP +. . O + +That DT B-NP +also RB B-ADVP +is VBZ B-VP +n't RB O +easy JJ B-ADJP +. . O + +Take VB B-VP +the DT B-NP +`` `` I-NP +credit NN I-NP +enhancements NNS I-NP +, , O +'' '' O +which WDT B-NP +typically RB B-ADVP +include VBP B-VP +a DT B-NP +bank NN I-NP +letter NN I-NP +of IN B-PP +credit NN B-NP +or CC O +insurance NN B-NP +from IN B-PP +a DT B-NP +bond-insurance JJ I-NP +company NN I-NP +. . O + +The DT B-NP +letter NN I-NP +of IN B-PP +credit NN B-NP +typically RB B-ADVP +is VBZ B-VP +not RB I-VP +offered VBN I-VP +by IN B-PP +the DT B-NP +bank NN I-NP +selling VBG B-VP +the DT B-NP +assets NNS I-NP +to TO B-VP +back RB I-VP +the DT B-NP +securities NNS I-NP +. . O + +Nor CC O +does VBZ O +it PRP B-NP +cover VBP B-VP +the DT B-NP +entire JJ I-NP +portfolio NN I-NP +. . O + +Details NNS B-NP +of IN B-PP +credit NN B-NP +enhancements NNS I-NP +vary VBP B-VP +widely RB B-ADVP +from IN B-PP +issue NN B-NP +to TO B-PP +issue VB B-NP +. . O + +Still RB B-ADVP +, , O +they PRP B-NP +play VBP B-VP +a DT B-NP +crucial JJ I-NP +role NN I-NP +in IN B-PP +winning VBG B-VP +top JJ B-NP +ratings NNS I-NP +for IN B-PP +most RBS B-NP +asset-backed JJ I-NP +issues NNS I-NP +-- : O +which WDT B-NP +in IN B-PP +turn NN B-NP +is VBZ B-VP +why WRB B-ADVP +the DT B-NP +yield NN I-NP +above IN B-PP +Treasurys NNPS B-NP +is VBZ B-VP +so RB B-ADJP +slim JJ I-ADJP +. . O + +But CC O +skeptics NNS B-NP +ask VBP B-VP +why WRB B-ADVP +you PRP B-NP +should MD B-VP +bother VB I-VP +buying VBG I-VP +this DT B-NP +stuff NN I-NP +when WRB B-ADVP +you PRP B-NP +can MD B-VP +get VB I-VP +only RB B-ADVP +slightly RB I-ADVP +lower JJR B-NP +yields NNS I-NP +on IN B-PP +government-guaranteed JJ B-NP +paper NN I-NP +. . O + +When WRB B-ADVP +you PRP B-NP +buy VBP B-VP +an DT B-NP +asset-backed JJ I-NP +issue NN I-NP +, , O +you PRP B-NP +take VBP B-VP +the DT B-NP +risk NN I-NP +that IN B-SBAR +a DT B-NP +bank NN I-NP +or CC O +an DT B-NP +insurer NN I-NP +could MD B-VP +run VB I-VP +into IN B-PP +unexpected JJ B-NP +difficulties NNS I-NP +. . O + +If IN B-SBAR +a DT B-NP +bank NN I-NP +'s POS B-NP +credit NN I-NP +rating NN I-NP +was VBD B-VP +lowered VBN I-VP +because IN B-PP +of IN I-PP +, , O +say VBP B-INTJ +, , O +its PRP$ B-NP +loans NNS I-NP +to TO B-PP +Third NNP B-NP +World NNP I-NP +nations NNS I-NP +, , O +that WDT B-NP +could MD B-VP +also RB I-VP +affect VB I-VP +the DT B-NP +ratings NNS I-NP +, , I-NP +liquidity NN I-NP +and CC I-NP +prices NNS I-NP +of IN B-PP +the DT B-NP +asset-backed JJ I-NP +issues NNS I-NP +that IN B-NP +the DT B-NP +bank NN I-NP +supports NNS B-VP +. . O + +Underwriters NNS B-NP +insist VBP B-VP +these DT B-NP +issues NNS I-NP +are VBP B-VP +constructed VBN I-VP +to TO B-VP +withstand VB I-VP +extremely RB B-NP +tough JJ I-NP +economic JJ I-NP +conditions NNS I-NP +. . O + +But CC O +despite IN B-PP +the DT B-NP +credit NN I-NP +enhancements NNS I-NP +, , O +despite IN B-PP +the DT B-NP +high JJ I-NP +ratings NNS I-NP +, , O +some DT B-NP +money NN I-NP +managers NNS I-NP +still RB B-ADVP +worry VBP B-VP +that IN B-SBAR +a DT B-NP +recession NN I-NP +could MD B-VP +wreak VB I-VP +havoc NN B-NP +on IN B-PP +the DT B-NP +underlying VBG I-NP +assets NNS I-NP +. . O + +At IN B-PP +a DT B-NP +time NN I-NP +when WRB B-ADVP +Americans NNPS B-NP +are VBP B-VP +leveraged JJ B-ADJP +to TO B-PP +their PRP$ B-NP +eyeballs NNS I-NP +, , O +asset-backed JJ B-NP +investors NNS I-NP +may MD B-VP +be VB I-VP +taking VBG I-VP +a DT B-NP +heady JJ I-NP +gamble NN I-NP +that IN B-SBAR +consumers NNS B-NP +will MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +repay VB I-VP +loans NNS B-NP +in IN B-PP +hard JJ B-NP +times NNS I-NP +. . O + +At IN B-PP +the DT B-NP +very RB I-NP +least JJS I-NP +, , O +a DT B-NP +recession NN I-NP +would MD B-VP +prompt VB I-VP +investors NNS B-NP +to TO B-VP +buy VB I-VP +the DT B-NP +highest-quality JJ I-NP +bonds NNS I-NP +they PRP B-NP +can MD B-VP +find VB I-VP +-- : O +that DT B-NP +is VBZ B-VP +, , O +Treasurys NNPS B-NP +. . O + +That DT B-NP +could MD B-VP +widen VB I-VP +the DT B-NP +yield NN I-NP +spread NN I-NP +between IN B-PP +Treasurys NNPS B-NP +and CC O +asset-backed JJ B-NP +securities NNS I-NP +, , O +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +make NN B-VP +it PRP B-NP +tougher JJR B-ADJP +to TO B-VP +unload VB I-VP +the DT B-NP +latter NN I-NP +. . O + +But CC O +it PRP B-NP +could MD B-VP +be VB I-VP +much RB B-ADJP +worse JJR I-ADJP +. . O + +Some DT B-NP +analysts NNS I-NP +are VBP B-VP +especially RB B-ADJP +wary JJ I-ADJP +of IN B-PP +credit-card NN B-NP +issues NNS I-NP +. . O + +For IN B-PP +one CD B-NP +thing NN I-NP +, , O +credit-card NN B-NP +loans NNS I-NP +are VBP B-VP +unsecured JJ B-ADJP +. . O + +In IN B-PP +addition NN B-NP +, , O +they PRP B-NP +fear VBP B-VP +that IN B-SBAR +banks NNS B-NP +have VBP B-VP +been VBN I-VP +overeager JJ B-ADJP +to TO B-VP +issue VB I-VP +cards NNS B-NP +to TO B-PP +the DT B-NP +public JJ I-NP +-- : O +giving VBG B-VP +cards NNS B-NP +to TO B-PP +too RB B-NP +many JJ I-NP +big JJ I-NP +spenders NNS I-NP +who WP B-NP +will MD B-VP +default VB I-VP +during IN B-PP +a DT B-NP +recession NN I-NP +. . O + +`` `` O +A DT B-NP +day NN I-NP +of IN B-PP +reckoning NN B-NP +is VBZ B-VP +coming VBG I-VP +where WRB B-ADVP +we PRP B-NP +think VBP B-VP +the DT B-NP +market NN I-NP +will MD B-VP +place VB I-VP +a DT B-NP +high JJ I-NP +premium NN I-NP +on IN B-PP +the DT B-NP +highest-quality JJ I-NP +debt NN I-NP +issues NNS I-NP +, , O +and CC O +therefore RB B-ADVP +we PRP B-NP +think VBP B-VP +the DT B-NP +best JJS I-NP +debt NN I-NP +investment NN I-NP +is VBZ B-VP +U.S. NNP B-NP +government NN I-NP +bonds NNS I-NP +, , O +'' '' O +says VBZ B-VP +Craig NNP B-NP +Corcoran NNP I-NP +of IN B-PP +Davis\/Zweig NNP B-NP +Futures NNP I-NP +Inc. NNP I-NP +, , O +an DT B-NP +investment NN I-NP +advisory JJ I-NP +firm NN I-NP +. . O + +What WP B-NP +about IN B-PP +triple-A-rated JJ B-NP +asset-backed JJ I-NP +issues NNS I-NP +? . O + +`` `` O +Nope UH B-INTJ +, , O +we PRP B-NP +still RB B-ADVP +say VBP B-VP +to TO I-VP +stick VB I-VP +with IN B-PP +Treasurys NNPS B-NP +, , O +'' '' O +Mr. NNP B-NP +Corcoran NNP I-NP +replies VBZ B-VP +. . O + +Ratings NNS B-NP +, , O +he PRP B-NP +notes VBZ B-VP +, , O +`` `` O +are VBP B-VP +subject NN B-ADJP +to TO B-PP +change VB B-NP +. . O +'' '' O + +All DT B-NP +this DT I-NP +makes VBZ B-VP +asset-backed JJ B-NP +securities NNS I-NP +seem VBP B-VP +too RB B-ADJP +risky JJ I-ADJP +for IN B-PP +many JJ B-NP +people NNS I-NP +. . O + +And CC O +it PRP B-NP +reminds VBZ B-VP +Raymond NNP B-NP +F. NNP I-NP +DeVoe NNP I-NP +Jr. NNP I-NP +, , O +a DT B-NP +market NN I-NP +strategist NN I-NP +at IN B-PP +Legg NNP B-NP +Mason NNP I-NP +Wood NNP I-NP +Walker NNP I-NP +Inc. NNP I-NP +, , O +of IN B-PP +what WP B-NP +he PRP B-NP +calls VBZ B-VP +`` `` O +DeVoe NNP B-NP +'s POS B-NP +Unprovable JJ B-ADJP +but CC O +Highly RB B-ADJP +Probable NNP I-ADJP +Theory NNP B-NP +No. NN I-NP +1 CD I-NP +: : O + +`` `` O +More JJR B-NP +money NN I-NP +has VBZ B-VP +been VBN I-VP +lost VBN I-VP +reaching VBG B-VP +for IN B-PP +yield NN B-NP +than IN B-PP +in IN B-PP +all PDT B-NP +the DT I-NP +stock NN I-NP +speculations NNS I-NP +, , I-NP +scams NNS I-NP +and CC I-NP +frauds NNS I-NP +of IN B-PP +all DT B-NP +time NN I-NP +. . O +'' '' O + +Mr. NNP B-NP +Herman NNP I-NP +is VBZ B-VP +a DT B-NP +staff NN I-NP +reporter NN I-NP +in IN B-PP +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +'s POS B-NP +New NNP I-NP +York NNP I-NP +bureau NN I-NP +. . O + +Volume NN B-NP +of IN B-PP +asset-backed JJ B-NP +securities NNS I-NP +issued VBN B-VP +annually RB B-ADVP + +\* SYM O +Principal NNP B-NP +amount NN I-NP + +\*\* SYM O +As IN B-PP +of IN B-PP +August NNP B-NP +30 CD I-NP + +\* SYM O +Principal NNP B-NP +amount NN I-NP + +Source NN B-NP +: : O +Securities NNP B-NP +Data NNP I-NP +Co NNP I-NP +. . O + +IF IN B-SBAR +YOU PRP B-NP +FORCE VBP B-VP +financial JJ B-NP +planners NNS I-NP +to TO B-VP +sum VB I-VP +up IN B-PRT +their PRP$ B-NP +most RBS I-NP +important JJ I-NP +advice NN I-NP +in IN B-PP +a DT B-NP +single JJ I-NP +sentence NN I-NP +, , O +it PRP B-NP +would MD B-VP +probably RB I-VP +be VB I-VP +a DT B-NP +one-word JJ I-NP +sentence NN I-NP +: : O +Diversify VB B-VP +. . O + +Judging VBG B-VP +by IN B-PP +a DT B-NP +poll NN I-NP +of IN B-PP +Wall NNP B-NP +Street NNP I-NP +Journal NNP I-NP +readers NNS I-NP +conducted VBD B-VP +this DT B-NP +summer NN I-NP +by IN B-PP +Erdos NNP B-NP +& CC I-NP +Morgan NNP I-NP +Inc. NNP I-NP +, , O +serious JJ B-NP +investors NNS I-NP +have VBP B-VP +taken VBN I-VP +that DT B-NP +advice NN I-NP +to TO B-PP +heart VB B-NP +. . O + +Nearly RB B-NP +1,000 CD I-NP +investors NNS I-NP +responded VBD B-VP +to TO B-PP +the DT B-NP +Journal NNP I-NP +'s POS B-NP +poll NN I-NP +, , O +providing VBG B-VP +an DT B-NP +in-depth JJ I-NP +look NN I-NP +at IN B-PP +their PRP$ B-NP +portfolios NNS I-NP +. . O + +Those DT B-NP +portfolios NNS I-NP +are VBP B-VP +remarkably RB B-ADJP +diversified JJ I-ADJP +. . O + +By IN B-PP +spreading VBG B-VP +their PRP$ B-NP +wealth NN I-NP +among IN B-PP +several JJ B-NP +investment NN I-NP +alternatives NNS I-NP +, , O +the DT B-NP +respondents NNS I-NP +have VBP B-VP +protected VBN I-VP +themselves PRP B-NP +against IN B-PP +squalls NNS B-NP +in IN B-PP +any DT B-NP +one CD I-NP +area NN I-NP +, , O +be VB O +it PRP B-NP +stocks VBZ B-NP +, , O +bonds NNS B-NP +or CC O +real JJ B-NP +estate NN I-NP +. . O + +For IN B-PP +example NN B-NP +, , O +about IN B-NP +88 CD I-NP +% NN I-NP +of IN B-PP +Journal NNP B-NP +readers NNS I-NP +owned VBD B-VP +stock NN B-NP +-LRB- ( O +down RB B-ADVP +slightly RB B-ADVP +from IN B-PP +91 CD B-NP +% NN I-NP +in IN B-PP +a DT B-NP +similar JJ I-NP +poll NN I-NP +last JJ B-NP +year NN I-NP +-RRB- ) O +. . O + +But CC O +only RB B-NP +17.5 CD I-NP +% NN I-NP +said VBD B-VP +they PRP B-NP +had VBD B-VP +more JJR B-NP +than IN I-NP +half VB I-NP +their PRP$ I-NP +money NN I-NP +in IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +. . O + +Similarly RB B-ADVP +, , O +57 CD B-NP +% NN I-NP +of IN B-PP +respondents NNS B-NP +own JJ B-VP +shares NNS B-NP +in IN B-PP +a DT B-NP +money-market JJ I-NP +mutual JJ I-NP +fund NN I-NP +, , O +and CC O +33 CD B-NP +% NN I-NP +own JJ B-VP +municipal JJ B-NP +bonds NNS I-NP +. . O + +But CC O +only RB B-NP +6 CD I-NP +% NN I-NP +to TO I-NP +7 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +investors NNS I-NP +were VBD B-VP +committing VBG I-VP +more JJR B-NP +than IN I-NP +half VB I-NP +their PRP$ I-NP +funds NNS I-NP +to TO B-PP +either DT B-NP +of IN B-PP +those DT B-NP +alternatives NNS I-NP +. . O + +The DT B-NP +poll NN I-NP +, , O +conducted VBN B-VP +Aug. NNP B-NP +7-28 JJ I-NP +, , O +also RB B-ADVP +provides VBZ B-VP +a DT B-NP +glimpse NN I-NP +into IN B-PP +the DT B-NP +thinking NN I-NP +of IN B-PP +serious JJ B-NP +investors NNS I-NP +on IN B-PP +a DT B-NP +variety NN I-NP +of IN B-PP +other JJ B-NP +topics NNS I-NP +. . O + +It PRP B-NP +found VBD B-VP +them PRP B-NP +in IN B-PP +a DT B-NP +cautious JJ I-NP +, , I-NP +but CC I-NP +not RB I-NP +downbeat JJ I-NP +, , I-NP +mood NN I-NP +. . O + +Of IN B-PP +1,500 CD B-NP +people NNS I-NP +sent VBD B-VP +a DT B-NP +questionnaire NN I-NP +, , O +951 CD B-NP +replied VBD B-VP +. . O + +The DT B-NP +response NN I-NP +rate NN I-NP +, , O +more JJR B-NP +than IN I-NP +63 CD I-NP +% NN I-NP +, , O +allows VBZ B-VP +the DT B-NP +results NNS I-NP +to TO B-VP +be VB I-VP +interpreted VBN I-VP +with IN B-PP +a DT B-NP +high JJ I-NP +degree NN I-NP +of IN B-PP +confidence NN B-NP +. . O + +The DT B-NP +results NNS I-NP +ca MD B-VP +n't RB I-VP +be VB I-VP +extrapolated VBN I-VP +to TO B-PP +all DT B-NP +investors NNS I-NP +, , O +though RB B-ADVP +. . O + +Journal NN B-NP +readers NNS I-NP +are VBP B-VP +relatively RB B-ADJP +affluent JJ I-ADJP +, , O +with IN B-PP +a DT B-NP +median JJ I-NP +household NN I-NP +income NN I-NP +of IN B-PP +between IN B-NP +$ $ I-NP +75,000 CD I-NP +and CC I-NP +$ $ I-NP +99,000 CD I-NP +. . O + +Nearly RB B-NP +half NN I-NP +of IN B-PP +the DT B-NP +respondents NNS I-NP +-LRB- ( O +47 CD B-NP +% NN I-NP +-RRB- ) O +said VBD B-VP +their PRP$ B-NP +investment NN I-NP +portfolio NN I-NP +was VBD B-VP +worth JJ B-ADJP +$ $ B-NP +250,000 CD I-NP +or CC I-NP +more JJR I-NP +, , O +and CC O +17 CD B-NP +% NN I-NP +said VBD B-VP +it PRP B-NP +was VBD B-VP +worth JJ B-ADJP +$ $ B-NP +1 CD I-NP +million CD I-NP +or CC I-NP +more JJR I-NP +. . O + +The DT B-NP +respondents NNS I-NP +were VBD B-VP +mildly RB B-ADJP +optimistic JJ I-ADJP +about IN B-PP +the DT B-NP +economy NN I-NP +and CC O +investment NN B-NP +markets NNS I-NP +, , O +but CC O +their PRP$ B-NP +collective JJ I-NP +judgments NNS I-NP +were VBD B-VP +a DT B-NP +notch NN I-NP +more RBR B-ADJP +sober JJ I-ADJP +than IN B-SBAR +they PRP B-NP +were VBD B-VP +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +For IN B-PP +example NN B-NP +, , O +12 CD B-NP +% NN I-NP +of IN B-PP +this DT B-NP +year NN I-NP +'s POS B-NP +respondents NNS I-NP +said VBD B-VP +they PRP B-NP +expect VBP B-VP +a DT B-NP +recession NN I-NP +within IN B-PP +12 CD B-NP +months NNS I-NP +. . O + +Last JJ B-NP +year NN I-NP +, , O +only RB B-NP +8 CD I-NP +% NN I-NP +were VBD B-VP +expecting VBG I-VP +a DT B-NP +recession NN I-NP +. . O + +An DT B-NP +additional JJ I-NP +56 CD I-NP +% NN I-NP +of IN B-PP +this DT B-NP +year NN I-NP +'s POS B-NP +respondents NNS I-NP +expect VBP B-VP +the DT B-NP +economy NN I-NP +to TO B-VP +slow VB I-VP +down RB B-PRT +during IN B-PP +the DT B-NP +next JJ I-NP +12 CD I-NP +months NNS I-NP +. . O + +Only RB B-NP +42 CD I-NP +% NN I-NP +of IN B-PP +last JJ B-NP +year NN I-NP +'s POS B-NP +respondents NNS I-NP +anticipated VBN B-VP +slowing VBG B-NP +growth NN I-NP +. . O + +Apparently RB B-ADVP +, , O +the DT B-NP +respondents NNS I-NP +do VBP B-VP +n't RB I-VP +think VB I-VP +that IN B-SBAR +an DT B-NP +economic JJ I-NP +slowdown NN I-NP +would MD B-VP +harm VB I-VP +the DT B-NP +major JJ I-NP +investment NN I-NP +markets NNS I-NP +very RB B-ADVP +much RB I-ADVP +. . O + +A DT B-NP +slim JJ I-NP +majority NN I-NP +-LRB- ( O +51 CD B-NP +% NN I-NP +-RRB- ) O +think VBP B-VP +stock NN B-NP +prices NNS I-NP +will MD B-VP +be VB I-VP +higher JJR B-ADJP +in IN B-PP +August NNP B-NP +1990 CD I-NP +than IN B-SBAR +they PRP B-NP +were VBD B-VP +in IN B-PP +August NNP B-NP +1989 CD I-NP +. . O + +Their PRP$ B-NP +verdict NN I-NP +on IN B-PP +real JJ B-NP +estate NN I-NP +is VBZ B-VP +almost RB B-ADVP +the DT B-NP +same JJ I-NP +. . O + +Some DT B-NP +50 CD I-NP +% NN I-NP +expect VBP B-VP +real JJ B-NP +estate NN I-NP +in IN B-PP +their PRP$ B-NP +local JJ I-NP +area NN I-NP +to TO B-VP +increase VB I-VP +in IN B-PP +value NN B-NP +over IN B-PP +the DT B-NP +next JJ I-NP +12 CD I-NP +months NNS I-NP +. . O + +By IN B-PP +contrast NN B-NP +, , O +only RB B-NP +32 CD I-NP +% NN I-NP +expect VBP B-VP +an DT B-NP +increase NN I-NP +in IN B-PP +the DT B-NP +price NN I-NP +of IN B-PP +gold NN B-NP +. . O + +Since IN B-SBAR +gold NN B-NP +tends VBZ B-VP +to TO I-VP +soar VB I-VP +when WRB B-ADVP +inflation NN B-NP +is VBZ B-VP +high JJ B-ADJP +, , O +that IN B-NP +finding VBG I-NP +suggests VBZ B-VP +that IN B-SBAR +people NNS B-NP +believe VBP B-VP +inflation NN B-NP +remains VBZ B-VP +under IN B-PP +control NN B-NP +. . O + +Even RB B-SBAR +though IN I-SBAR +only RB B-NP +12 CD I-NP +% NN I-NP +actually RB B-ADVP +predicted VBD B-VP +a DT B-NP +recession NN I-NP +, , O +many JJ B-NP +respondents NNS I-NP +were VBD B-VP +taking VBG I-VP +a DT B-NP +better-safe-than JJ I-NP +sorry JJ I-NP +investment NN I-NP +stance NN I-NP +. . O + +Nearly RB B-NP +a DT I-NP +third JJ I-NP +said VBD B-VP +they PRP B-NP +have VBP B-VP +made VBN I-VP +some DT B-NP +portfolio NN I-NP +changes NNS I-NP +to TO B-VP +anticipate VB I-VP +a DT B-NP +possible JJ I-NP +recession NN I-NP +. . O + +For IN B-PP +the DT B-NP +most RBS I-NP +part NN I-NP +, , O +the DT B-NP +changes NNS I-NP +were VBD B-VP +`` `` O +slight JJ B-ADJP +. . O +'' '' O + +The DT B-NP +two-thirds NNS I-NP +who WP B-NP +have VBP B-VP +n't RB I-VP +tried VBN I-VP +to TO I-VP +make VB I-VP +their PRP$ B-NP +portfolios NNS I-NP +more RBR B-ADJP +recession-resistant JJ I-ADJP +were VBD B-VP +split NN I-VP +about IN B-ADVP +evenly RB I-ADVP +between IN B-PP +investors NNS B-NP +who WP B-NP +`` `` O +do VBP B-VP +n't RB I-VP +believe VB I-VP +in IN B-PP +trying VBG B-VP +to TO I-VP +predict VB I-VP +the DT B-NP +markets NNS I-NP +'' '' O +-LRB- ( O +about IN B-NP +31 CD I-NP +% NN I-NP +-RRB- ) O +and CC O +investors NNS B-NP +who WP B-NP +`` `` B-VP +do VBP I-VP +n't RB O +expect VB B-VP +a DT B-NP +recession NN I-NP +'' '' O +-LRB- ( O +about IN B-NP +15 CD I-NP +% NN I-NP +-RRB- ) O +or CC O +are VBP B-VP +`` `` O +unsure JJ B-ADJP +if IN O +and CC O +when WRB B-ADVP +a DT B-NP +recession NN I-NP +might MD B-VP +come VB I-VP +'' '' O +-LRB- ( O +about IN B-NP +22 CD I-NP +% NN I-NP +-RRB- ) O +. . O + +A DT B-NP +buy-and-hold JJ I-NP +approach NN I-NP +to TO B-PP +stocks NNS B-NP +continues VBZ B-VP +to TO I-VP +be VB I-VP +the DT B-NP +rule NN I-NP +among IN B-PP +respondents NNS B-NP +. . O + +Most JJS B-NP +own JJ B-VP +two CD B-NP +to TO I-NP +10 CD I-NP +stocks NNS I-NP +, , O +and CC O +buy VB B-VP +or CC I-VP +sell VB I-VP +no DT B-ADVP +more JJR I-ADVP +than IN B-PP +three CD B-NP +times VBZ I-NP +a DT B-NP +year NN I-NP +. . O + +Some DT B-NP +71 CD I-NP +% NN I-NP +had VBD B-VP +bought VBN I-VP +some DT B-NP +stock NN I-NP +in IN B-PP +the DT B-NP +past JJ I-NP +year NN I-NP +; : O +only RB B-NP +57 CD I-NP +% NN I-NP +had VBD B-VP +sold VBN I-VP +any DT B-NP +. . O + +But CC O +the DT B-NP +lurking VBG I-NP +shadow NN I-NP +of IN B-PP +1987 CD B-NP +'s POS B-NP +stock-market NN I-NP +crash NN I-NP +still RB B-ADVP +seems VBZ B-VP +dark JJ B-ADJP +. . O + +About IN B-NP +33 CD I-NP +% NN I-NP +considered VBD B-VP +another DT B-NP +crash NN I-NP +`` `` O +likely JJ B-ADJP +, , O +'' '' O +while IN B-SBAR +about IN B-NP +63 CD I-NP +% NN I-NP +said VBD B-VP +one CD B-NP +is VBZ B-VP +`` `` O +unlikely JJ B-ADJP +. . O +'' '' O + +Those DT B-NP +percentages NNS I-NP +hardly RB B-ADVP +changed VBN B-VP +from IN B-PP +the DT B-NP +previous JJ I-NP +year NN I-NP +'s POS B-NP +poll NN I-NP +. . O + +And CC O +the DT B-NP +respondents NNS I-NP +' POS B-NP +commitment NN I-NP +to TO B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +remains VBZ B-VP +somewhat RB B-ADJP +lighter JJR I-ADJP +than IN B-PP +usual JJ B-ADJP +. . O + +About IN B-NP +60 CD I-NP +% NN I-NP +of IN B-PP +them PRP B-NP +said VBD B-VP +they PRP B-NP +would MD B-VP +`` `` O +ordinarily RB B-ADVP +'' '' O +have VBP B-VP +at IN B-NP +least JJS I-NP +25 CD I-NP +% NN I-NP +of IN B-PP +their PRP$ B-NP +money NN I-NP +in IN B-PP +stocks NNS B-NP +. . O + +But CC O +as IN B-PP +of IN B-PP +August NNP B-NP +, , O +only RB B-NP +50 CD I-NP +% NN I-NP +actually RB B-ADVP +had VBD B-VP +stock-market NN B-NP +investments NNS I-NP +of IN B-PP +that DT B-NP +size NN I-NP +. . O + +Most JJS B-NP +stock-market NN I-NP +indexes NNS I-NP +were VBD B-VP +hitting VBG I-VP +all-time JJ B-NP +highs NNS I-NP +at IN B-PP +around IN B-NP +the DT I-NP +time NN I-NP +of IN B-PP +the DT B-NP +poll NN I-NP +. . O + +But CC O +it PRP B-NP +appears VBZ B-VP +that IN B-SBAR +many JJ B-NP +Journal NNP I-NP +readers NNS I-NP +were VBD B-VP +taking VBG I-VP +that DT B-NP +news NN I-NP +as IN B-PP +a DT B-NP +sign NN I-NP +to TO B-VP +be VB I-VP +cautious JJ B-ADJP +, , O +rather RB B-CONJP +than IN I-CONJP +a DT B-NP +signal NN I-NP +to TO B-VP +jump VB I-VP +on IN B-PP +the DT B-NP +bandwagon NN I-NP +. . O + +Mr. NNP B-NP +Dorfman NNP I-NP +covers VBZ B-VP +investing VBG B-NP +issues NNS I-NP +from IN B-PP +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +'s POS B-NP +New NNP I-NP +York NNP I-NP +bureau NN I-NP +. . O + +Canadian JJ B-NP +steel NN I-NP +ingot NN I-NP +production NN I-NP +totaled VBD B-VP +276,334 CD B-NP +metric JJ I-NP +tons NNS I-NP +in IN B-PP +the DT B-NP +week NN I-NP +ended VBN B-VP +Oct. NNP B-NP +14 CD I-NP +, , O +down RB B-ADVP +5.3 CD B-NP +% NN I-NP +from IN B-PP +the DT B-NP +preceding VBG I-NP +week NN I-NP +'s POS B-NP +total NN I-NP +of IN B-PP +291,890 CD B-NP +tons NNS I-NP +, , O +Statistics NNP B-NP +Canada NNP I-NP +, , O +a DT B-NP +federal JJ I-NP +agency NN I-NP +, , O +said VBD B-VP +. . O + +The DT B-NP +week NN I-NP +'s POS B-NP +total NN I-NP +was VBD B-VP +down RB B-ADVP +7.1 CD B-NP +% NN I-NP +from IN B-PP +297,446 CD B-NP +tons NNS I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +A DT B-NP +metric JJ I-NP +ton NN I-NP +is VBZ B-VP +equal JJ B-ADJP +to TO B-PP +2,204.62 CD B-NP +pounds NNS I-NP +. . O + +The DT B-NP +cumulative JJ I-NP +total NN I-NP +in IN B-PP +1989 CD B-NP +was VBD B-VP +12,283,217 CD B-NP +tons NNS I-NP +, , O +up IN B-ADVP +7.5 CD B-NP +% NN I-NP +from IN B-PP +11,429,243 CD B-NP +tons NNS I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Health NNP B-NP +Care NNP I-NP +Property NNP I-NP +Investors NNP I-NP +Inc. NNP I-NP +said VBD B-VP +it PRP B-NP +acquired VBD B-VP +three CD B-NP +long-term JJ I-NP +care NN I-NP +facilities NNS I-NP +and CC O +one CD B-NP +assisted-living JJ I-NP +facility NN I-NP +in IN B-PP +a DT B-NP +purchase-and-lease JJ I-NP +transaction NN I-NP +valued VBN B-VP +at IN B-PP +$ $ B-NP +15 CD I-NP +million CD I-NP +. . O + +The DT B-NP +real JJ I-NP +estate NN I-NP +investment NN I-NP +trust NN I-NP +said VBD B-VP +that IN B-SBAR +it PRP B-NP +leased VBD B-VP +the DT B-NP +three CD I-NP +Florida NNP I-NP +facilities NNS I-NP +to TO B-PP +National NNP B-NP +Health NNP I-NP +Care NNP I-NP +Affiliates NNP I-NP +Inc. NNP I-NP +of IN B-PP +Buffalo NNP B-NP +, , O +N.Y NNP B-NP +. . O + +Health NNP B-NP +Care NNP I-NP +Property NNP I-NP +holds VBZ B-VP +an DT B-NP +interest NN I-NP +in IN B-PP +139 CD B-NP +facilities NNS I-NP +in IN B-PP +30 CD B-NP +states NNS I-NP +. . O + +Moody NNP B-NP +'s POS B-NP +Investors NNP I-NP +Service NNP I-NP +said VBD B-VP +it PRP B-NP +lowered VBD B-VP +its PRP$ B-NP +rating NN I-NP +on IN B-PP +about RB B-NP +$ $ I-NP +75 CD I-NP +million CD I-NP +of IN B-PP +this DT B-NP +Chatsworth NNP I-NP +, , I-NP +Calif. NNP I-NP +, , I-NP +concern NN I-NP +'s POS B-NP +convertible JJ I-NP +subordinated VBN I-NP +debentures NNS I-NP +, , O +due JJ B-ADJP +2012 CD B-NP +, , O +to TO B-PP +Caa NNP B-NP +from IN B-PP +B2 NN B-NP +. . O + +It PRP B-NP +said VBD B-VP +the DT B-NP +reduction NN I-NP +reflects VBZ B-VP +impaired VBN B-NP +business NN I-NP +prospects NNS I-NP +and CC O +reduced VBN B-NP +financial JJ I-NP +flexibility NN I-NP +caused VBN B-VP +by IN B-PP +continuing VBG B-NP +losses NNS I-NP +at IN B-PP +the DT B-NP +maker NN I-NP +of IN B-PP +Winchester NNP B-NP +disk NN I-NP +drives NNS I-NP +. . O + +VALLEY NNP B-NP +National NNP I-NP +Corp. NNP I-NP +-- : O + +Moody NNP B-NP +'s POS B-NP +Investors NNP I-NP +Service NNP I-NP +Inc. NNP I-NP +said VBD B-VP +it PRP B-NP +lowered VBD B-VP +its PRP$ B-NP +rating NN I-NP +on IN B-PP +about RB B-NP +$ $ I-NP +400 CD I-NP +million CD I-NP +of IN B-PP +this DT O +bank NN B-NP +holding VBG I-NP +company NN I-NP +'s POS B-NP +senior JJ I-NP +debt NN I-NP +to TO B-PP +B2 NN B-NP +from IN B-PP +Ba3 NN B-NP +. . O + +Moody NNP B-NP +'s POS I-NP +said VBD B-VP +it PRP B-NP +expects VBZ B-VP +Valley NNP B-NP +National NNP I-NP +, , O +of IN B-PP +Phoenix NNP B-NP +, , O +Ariz. NNP B-NP +, , O +to TO B-VP +make VB I-VP +substantial JJ B-NP +further JJ I-NP +provisions NNS I-NP +against IN B-PP +its PRP$ B-NP +real-estate NN I-NP +portfolio NN I-NP +, , O +and CC O +that IN B-SBAR +it PRP B-NP +continues VBZ B-VP +to TO I-VP +suffer VB I-VP +from IN B-PP +the DT B-NP +high JJ I-NP +cost NN I-NP +of IN B-PP +carrying VBG B-VP +nonperforming JJ B-NP +assets NNS I-NP +, , B-PP +and CC I-PP +from IN B-PP +high JJ B-NP +loan-loss NN I-NP +provisions NNS I-NP +. . O + +Electronic JJ B-NP +theft NN I-NP +by IN B-PP +foreign JJ B-NP +and CC I-NP +industrial JJ I-NP +spies NNS I-NP +and CC O +disgruntled JJ B-NP +employees NNS I-NP +is VBZ B-VP +costing VBG I-VP +U.S. NNP B-NP +companies NNS I-NP +billions NNS B-NP +and CC O +eroding VBG B-VP +their PRP$ B-NP +international JJ I-NP +competitive JJ I-NP +advantage NN I-NP +. . O + +That DT B-NP +was VBD B-VP +the DT B-NP +message NN I-NP +delivered VBN B-VP +by IN B-PP +government NN B-NP +and CC I-NP +private JJ I-NP +security NN I-NP +experts NNS I-NP +at IN B-PP +an DT B-NP +all-day JJ I-NP +conference NN I-NP +on IN B-PP +corporate JJ B-NP +electronic JJ I-NP +espionage NN I-NP +. . O + +`` `` O +Hostile JJ B-NP +and CC I-NP +even RB I-NP +friendly JJ I-NP +nations NNS I-NP +routinely RB B-ADVP +steal VBP B-VP +information NN B-NP +from IN B-PP +U.S. NNP B-NP +companies NNS I-NP +and CC O +share NN B-VP +it PRP B-NP +with IN B-PP +their PRP$ B-NP +own JJ I-NP +companies NNS I-NP +, , O +'' '' O +said VBD B-VP +Noel NNP B-NP +D. NNP I-NP +Matchett NNP I-NP +, , O +a DT B-NP +former JJ I-NP +staffer NN I-NP +at IN B-PP +the DT B-NP +federal JJ I-NP +National NNP I-NP +Security NNP I-NP +Agency NNP I-NP +and CC O +now JJ B-ADVP +president NN B-NP +of IN B-PP +Information NNP B-NP +Security NNP I-NP +Inc. NNP I-NP +, , O +Silver NNP B-NP +Spring NNP I-NP +, , O +Md NNP B-NP +. . O + +It PRP B-NP +`` `` O +may MD B-VP +well RB I-VP +be VB I-VP +'' '' O +that DT B-SBAR +theft NN B-NP +of IN B-PP +business NN B-NP +data NNS I-NP +is VBZ B-VP +`` `` O +as IN B-NP +serious JJ I-NP +a DT I-NP +strategic JJ I-NP +threat NN I-NP +to TO B-PP +national JJ B-NP +security NN I-NP +'' '' O +as IN B-SBAR +it PRP B-NP +is VBZ B-VP +a DT B-NP +threat NN I-NP +to TO B-PP +the DT B-NP +survival NN I-NP +of IN B-PP +victimized VBN B-NP +U.S. NNP I-NP +firms NNS I-NP +, , O +said VBD B-VP +Michelle NNP B-NP +Van NNP I-NP +Cleave NNP I-NP +, , O +the DT B-NP +White NNP I-NP +House NNP I-NP +'s POS B-NP +assistant NN I-NP +director NN I-NP +for IN B-PP +National NNP B-NP +Security NNP I-NP +Affairs NNP I-NP +. . O + +The DT B-NP +conference NN I-NP +was VBD B-VP +jointly RB I-VP +sponsored VBN I-VP +by IN B-PP +the DT O +New NNP O +York NNP O +Institute NNP O +of IN B-PP +Technology NNP B-NP +School NNP B-NP +of IN B-PP +Management NNP B-NP +and CC O +the DT B-NP +Armed NNP I-NP +Forces NNPS I-NP +Communications NNPS I-NP +and CC I-NP +Electronics NNP I-NP +Association NNP I-NP +, , O +a DT B-NP +joint JJ I-NP +industry-government JJ I-NP +trade NN I-NP +group NN I-NP +. . O + +Any DT B-NP +secret NN I-NP +can MD B-VP +be VB I-VP +pirated VBN I-VP +, , O +the DT B-NP +experts NNS I-NP +said VBD B-VP +, , O +if IN B-SBAR +it PRP B-NP +is VBZ B-VP +transmitted VBN I-VP +over IN B-PP +the DT B-NP +air NN I-NP +. . O + +Even JJ B-NP +rank NN I-NP +amateurs NNS I-NP +can MD B-VP +do VB I-VP +it PRP B-NP +if IN B-SBAR +they PRP B-NP +spend VBP B-VP +a DT B-NP +few JJ I-NP +thousand CD I-NP +dollars NNS I-NP +for IN B-PP +a DT B-NP +commercially RB I-NP +available JJ I-NP +microwave NN I-NP +receiver NN I-NP +with IN B-PP +amplifier NN B-NP +and CC O +a DT B-NP +VCR NNP I-NP +recorder NN I-NP +. . O + +They PRP B-NP +need VBP B-VP +only JJ I-VP +position NN I-VP +themselves PRP B-NP +near IN B-PP +a DT B-NP +company NN I-NP +'s POS B-NP +satellite NN I-NP +dish NN I-NP +and CC O +wait VB B-VP +. . O + +`` `` O +You PRP B-NP +can MD B-VP +have VB I-VP +a DT B-NP +dozen NN I-NP +competitors NNS I-NP +stealing VBG B-VP +your PRP$ B-NP +secrets NNS I-NP +at IN B-PP +the DT B-NP +same JJ I-NP +time NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Matchett NNP I-NP +said VBD B-VP +, , O +adding VBG B-VP +: : O +`` `` O +It PRP B-NP +'s VBZ B-VP +a DT B-NP +pretty RB I-NP +good JJ I-NP +bet NN I-NP +they PRP B-NP +wo MD B-VP +n't RB I-VP +get VB I-VP +caught VBN I-VP +. . O +'' '' O + +The DT B-NP +only JJ I-NP +way NN I-NP +to TO B-VP +catch VB I-VP +an DT B-NP +electronic JJ I-NP +thief NN I-NP +, , O +he PRP B-NP +said VBD B-VP +, , O +is VBZ B-VP +to TO B-VP +set VB I-VP +him PRP B-NP +up IN B-PRT +with IN B-PP +erroneous JJ B-NP +information NN I-NP +. . O + +Even RB B-SBAR +though IN I-SBAR +electronic JJ B-NP +espionage NN I-NP +may MD B-VP +cost VB I-VP +U.S. NNP B-NP +firms NNS I-NP +billions NNS B-NP +of IN B-PP +dollars NNS B-NP +a DT B-NP +year NN I-NP +, , O +most RBS B-NP +are VBP B-VP +n't RB I-VP +yet RB I-VP +taking VBG I-VP +precautions NNS B-NP +, , O +the DT B-NP +experts NNS I-NP +said VBD B-VP +. . O + +By IN B-PP +contrast NN B-NP +, , O +European JJ B-NP +firms NNS I-NP +will MD B-VP +spend VB I-VP +$ $ B-NP +150 CD I-NP +million CD I-NP +this DT B-NP +year NN I-NP +on IN B-PP +electronic JJ B-NP +security NN I-NP +, , O +and CC O +are VBP B-VP +expected VBN I-VP +to TO I-VP +spend VB I-VP +$ $ B-NP +1 CD I-NP +billion CD I-NP +by IN B-PP +1992 CD B-NP +. . O + +Already RB B-ADVP +many JJ B-NP +foreign JJ I-NP +firms NNS I-NP +, , O +especially RB B-ADVP +banks VBZ B-NP +, , O +have VBP B-VP +their PRP$ B-NP +own JJ I-NP +cryptographers NNS I-NP +, , O +conference NN B-NP +speakers NNS I-NP +reported VBD B-VP +. . O + +Still RB B-ADVP +, , O +encrypting VBG B-VP +corporate JJ B-NP +communications NNS I-NP +is VBZ B-VP +only RB B-ADVP +a DT B-NP +partial JJ I-NP +remedy NN I-NP +. . O + +One CD B-NP +expert NN I-NP +, , O +whose WP$ B-NP +job NN I-NP +is VBZ B-VP +so RB B-ADJP +politically RB I-ADJP +sensitive JJ I-ADJP +that IN B-SBAR +he PRP B-NP +spoke VBD B-VP +on IN B-PP +condition NN B-NP +that IN B-SBAR +he PRP B-NP +would MD B-VP +n't RB I-VP +be VB I-VP +named VBN I-VP +or CC I-VP +quoted VBN I-VP +, , O +said VBD B-VP +the DT B-NP +expected VBN I-NP +influx NN I-NP +of IN B-PP +East NNP B-NP +European JJ I-NP +refugees NNS I-NP +over IN B-PP +the DT B-NP +next JJ I-NP +few JJ I-NP +years NNS I-NP +will MD B-VP +greatly RB I-VP +increase VB I-VP +the DT B-NP +chances NNS I-NP +of IN B-PP +computer-maintenance NN B-NP +workers NNS I-NP +, , O +for IN B-PP +example NN B-NP +, , O +doubling VBG B-VP +as IN B-PP +foreign JJ B-NP +spies NNS I-NP +. . O + +Moreover RB B-ADVP +, , O +he PRP B-NP +said VBD B-VP +, , O +technology NN B-NP +now RB B-ADVP +exists VBZ B-VP +for IN B-PP +stealing VBG B-VP +corporate JJ B-NP +secrets NNS I-NP +after IN B-SBAR +they PRP B-NP +'ve VBP B-VP +been VBN I-VP +`` `` I-VP +erased VBN I-VP +'' '' O +from IN B-PP +a DT B-NP +computer NN I-NP +'s POS B-NP +memory NN I-NP +. . O + +He PRP B-NP +said VBD B-VP +that IN B-SBAR +Oliver NNP B-NP +North NNP I-NP +of IN B-PP +Iran-Contra NNP B-NP +notoriety NN I-NP +thought VBD B-VP +he PRP B-NP +had VBD B-VP +erased VBN I-VP +his PRP$ B-NP +computer NN I-NP +but CC O +that IN B-SBAR +the DT B-NP +information NN I-NP +was VBD B-VP +later RB I-VP +retrieved VBN I-VP +for IN B-SBAR +congressional JJ B-NP +committees NNS I-NP +to TO B-VP +read VB I-VP +. . O + +No DT B-NP +personal JJ I-NP +computer NN I-NP +, , O +not RB B-ADVP +even RB I-ADVP +the DT B-NP +one CD I-NP +on IN B-PP +a DT B-NP +chief JJ I-NP +executive NN I-NP +'s POS B-NP +desk NN I-NP +, , O +is VBZ B-VP +safe JJ B-ADJP +, , O +this DT B-NP +speaker NN I-NP +noted VBD B-VP +. . O + +W. NNP B-NP +Mark NNP I-NP +Goode NNP I-NP +, , O +president NN B-NP +of IN B-PP +Micronyx NNP B-NP +Inc. NNP I-NP +, , O +a DT B-NP +Richardson NNP I-NP +, , I-NP +Texas NNP I-NP +, , I-NP +firm NN I-NP +that WDT B-NP +makes VBZ B-VP +computer-security JJ B-NP +products NNS I-NP +, , O +provided VBD B-VP +a DT B-NP +new JJ I-NP +definition NN I-NP +for IN B-PP +Mikhail NNP B-NP +Gorbachev NNP I-NP +'s POS B-NP +campaign NN I-NP +for IN B-PP +greater JJR B-NP +openness NN I-NP +, , O +known VBN B-VP +commonly RB B-ADVP +as IN B-PP +glasnost FW B-NP +. . O + +Under IN B-PP +Mr. NNP B-NP +Gorbachev NNP I-NP +, , O +Mr. NNP B-NP +Goode NNP I-NP +said VBD B-VP +, , O +the DT B-NP +Soviets NNPS I-NP +are VBP B-VP +openly RB I-VP +stealing VBG I-VP +Western JJ B-NP +corporate JJ I-NP +communications NNS I-NP +. . O + +He PRP B-NP +cited VBD B-VP +the DT B-NP +case NN I-NP +of IN B-PP +a DT B-NP +Swiss JJ I-NP +oil NN I-NP +trader NN I-NP +who WP B-NP +recently RB B-ADVP +put VB B-VP +out RP B-PRT +bids NNS B-NP +via IN B-PP +telex NN B-NP +for IN B-PP +an DT B-NP +oil NN I-NP +tanker NN I-NP +to TO B-VP +pick VB I-VP +up IN B-PRT +a DT B-NP +cargo NN I-NP +of IN B-PP +crude NN B-NP +in IN B-PP +the DT B-NP +Middle NNP I-NP +East NNP I-NP +. . O + +Among IN B-PP +the DT B-NP +responses NNS I-NP +the DT B-NP +Swiss JJ I-NP +trader NN I-NP +got VBD B-VP +was VBD B-VP +one CD B-NP +from IN B-PP +the DT B-NP +Soviet JJ I-NP +national JJ I-NP +shipping NN I-NP +company NN I-NP +, , O +which WDT B-NP +had VBD B-VP +n't RB I-VP +been VBN I-VP +invited VBN I-VP +to TO B-VP +submit VB I-VP +a DT B-NP +bid NN I-NP +. . O + +The DT B-NP +Soviets NNPS I-NP +' POS B-NP +eavesdropping NN I-NP +paid VBN B-VP +off IN B-PRT +, , O +however RB B-ADVP +, , O +because IN B-SBAR +they PRP B-NP +got VBD B-VP +the DT B-NP +contract NN I-NP +. . O + +The DT B-NP +University NNP I-NP +of IN B-PP +Toronto NNP B-NP +stepped VBD B-VP +deeper JJR B-ADVP +into IN B-PP +the DT B-NP +contest NN I-NP +for IN B-PP +Connaught NNP B-NP +BioSciences NNP I-NP +Inc. NNP I-NP +by IN B-PP +reaching VBG B-VP +an DT B-NP +unusual JJ I-NP +agreement NN I-NP +with IN B-PP +Ciba-Geigy NNP B-NP +Ltd. NNP I-NP +and CC O +Chiron NNP B-NP +Corp NNP I-NP +. . O + +The DT B-NP +University NNP I-NP +said VBD B-VP +the DT B-NP +two CD I-NP +companies NNS I-NP +agreed VBD B-VP +to TO I-VP +spend VB I-VP +25 CD B-NP +million CD I-NP +Canadian JJ I-NP +dollars NNS I-NP +-LRB- ( O +$ $ B-NP +21.3 CD I-NP +million CD I-NP +-RRB- ) O +over IN B-PP +10 CD B-NP +years NNS I-NP +on IN B-PP +research NN B-NP +at IN B-PP +Canadian JJ B-NP +universities NNS I-NP +if IN B-SBAR +they PRP B-NP +are VBP B-VP +successful JJ B-ADJP +in IN B-PP +acquiring VBG B-VP +the DT B-NP +vaccine NN I-NP +maker NN I-NP +. . O + +It PRP B-NP +said VBD B-VP +$ $ B-NP +10 CD I-NP +million CD I-NP +would MD B-VP +go VB I-VP +to TO B-PP +the DT B-NP +University NNP I-NP +of IN B-PP +Toronto NNP B-NP +. . O + +Ciba-Geigy NNP B-NP +and CC O +Chiron NNP B-NP +have VBP B-VP +made VBN I-VP +a DT B-NP +joint JJ I-NP +bid NN I-NP +of IN B-PP +C$ $ B-NP +866 CD I-NP +million CD I-NP +for IN B-PP +Connaught NNP B-NP +, , O +and CC O +Institut NNP B-NP +Merieux NNP I-NP +S.A. NNP I-NP +of IN B-PP +France NNP B-NP +has VBZ B-VP +made VBN I-VP +a DT B-NP +rival JJ I-NP +bid NN I-NP +of IN B-PP +C$ $ B-NP +942 CD I-NP +million CD I-NP +. . O + +The DT B-NP +University NNP I-NP +is VBZ B-VP +seeking VBG I-VP +an DT B-NP +injunction NN I-NP +against IN B-PP +the DT B-NP +Merieux NNP I-NP +bid NN I-NP +, , O +arguing VBG B-VP +that IN B-SBAR +Connaught NNP B-NP +'s POS B-NP +predecessor NN I-NP +company NN I-NP +agreed VBD B-VP +in IN B-PP +1972 CD B-NP +that IN B-SBAR +Connaught NNP B-NP +'s POS B-NP +ownership NN I-NP +would MD B-VP +n't RB I-VP +be VB I-VP +transferred VBN I-VP +to TO B-PP +foreigners NNS B-NP +. . O + +The DT B-NP +university NN I-NP +implied VBN B-VP +that IN B-SBAR +it PRP B-NP +would MD B-VP +drop VB I-VP +its PRP$ B-NP +opposition NN I-NP +to TO B-PP +foreign JJ B-NP +ownership NN I-NP +if IN B-SBAR +Ciba-Geigy NNP B-NP +and CC O +Chiron NNP B-NP +are VBP B-VP +successful JJ B-ADJP +with IN B-PP +their PRP$ B-NP +lower JJR I-NP +bid NN I-NP +. . O + +It PRP B-NP +said VBD B-VP +the DT B-NP +new JJ I-NP +agreement NN I-NP +would MD B-VP +`` `` I-VP +replace VB I-VP +'' '' O +the DT B-NP +old JJ I-NP +one CD I-NP +that IN B-NP +forms VBZ B-VP +the DT B-NP +basis NN I-NP +of IN B-PP +its PRP$ B-NP +suit NN I-NP +against IN B-PP +the DT B-NP +Merieux NNP I-NP +takeover NN I-NP +. . O + +`` `` O +Notwithstanding IN B-PP +foreign JJ B-NP +ownership NN I-NP +of IN B-PP +Connaught NNP B-NP +, , O +this DT B-NP +accord NN I-NP +would MD B-VP +enhance VB I-VP +research NN B-NP +and CC I-NP +development NN I-NP +in IN B-PP +Canada NNP B-NP +, , O +'' '' O +said VBD B-VP +James NNP B-NP +Keffer NNP I-NP +, , O +the DT B-NP +university NN I-NP +'s POS B-NP +vice NN I-NP +president NN I-NP +of IN B-PP +research NN B-NP +. . O + +Ciba-Geigy NNP B-NP +is VBZ B-VP +a DT B-NP +Swiss JJ I-NP +pharmaceutical JJ I-NP +company NN I-NP +and CC O +Chiron NNP B-NP +is VBZ B-VP +based VBN I-VP +in IN B-PP +Emeryville NNP B-NP +, , O +Calif NNP B-NP +. . O + +In IN B-PP +a DT B-NP +statement NN I-NP +, , O +Jacques-Francois NNP B-NP +Martin NNP I-NP +, , O +director NN B-NP +general NN I-NP +of IN B-PP +Merieux NNP B-NP +, , O +said VBD B-VP +the DT B-NP +French JJ I-NP +company NN I-NP +is VBZ B-VP +still RB B-ADVP +determined VBN B-ADJP +to TO B-VP +acquire VB I-VP +Connaught NNP B-NP +. . O + +While IN B-SBAR +he PRP B-NP +did VBD B-VP +n't RB I-VP +comment VB I-VP +directly RB B-ADVP +on IN B-PP +the DT B-NP +pact NN I-NP +between IN B-PP +Ciba-Geigy NNP B-NP +and CC O +the DT B-NP +university NN I-NP +, , O +he PRP B-NP +said VBD B-VP +Merieux NNP B-NP +can MD B-VP +transfer VB I-VP +new JJ B-NP +products NNS I-NP +and CC I-NP +technologies NNS I-NP +to TO B-PP +Connaught NNP B-NP +more RBR B-ADVP +rapidly RB I-ADVP +than IN B-PP +other JJ B-NP +companies NNS I-NP +`` `` O +not RB B-VP +currently RB I-VP +producing VBG I-VP +and CC I-VP +marketing NN I-VP +vaccines NNS B-NP +-LCB- ( O +who WP B-NP +-RCB- ) O +can MD B-VP +only RB I-VP +promise VB I-VP +this DT B-NP +for IN B-PP +some DT B-NP +... : I-NP +years NNS I-NP +in IN B-PP +the DT B-NP +future NN I-NP +. . O +'' '' O + +In IN B-PP +national JJ B-NP +over-the-counter JJ I-NP +trading NN I-NP +yesterday NN B-NP +, , O +Connaught NNP B-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +28.625 CD I-NP +, , O +up IN B-ADVP +$ $ B-NP +1.25 CD I-NP +. . O + +Microsoft NNP B-NP +and CC O +other JJ B-NP +software NN I-NP +stocks NNS I-NP +surged VBD B-VP +, , O +leading VBG B-VP +the DT B-NP +Nasdaq NNP I-NP +composite JJ I-NP +index NN I-NP +of IN B-PP +over-the-counter JJ B-NP +stocks NNS I-NP +to TO B-PP +its PRP$ B-NP +biggest JJS I-NP +advance NN I-NP +of IN B-PP +the DT B-NP +year NN I-NP +on IN B-PP +breathtaking JJ B-NP +volume NN I-NP +. . O + +Leading VBG B-VP +the DT B-NP +pack NN I-NP +, , O +Microsoft NNP B-NP +soared VBD B-VP +3 CD B-NP +3\/4 CD I-NP +, , O +or CC O +4 CD B-NP +% NN I-NP +, , O +to TO B-PP +a DT B-NP +record NN I-NP +price NN I-NP +of IN B-PP +84 CD B-NP +1\/4 CD I-NP +on IN B-PP +1.2 CD B-NP +million CD I-NP +shares NNS I-NP +. . O + +On IN B-PP +the DT B-NP +other JJ I-NP +hand NN I-NP +, , O +Valley NNP B-NP +National NNP I-NP +tumbled VBD B-VP +24 CD B-NP +% NN I-NP +after IN B-PP +reporting VBG B-VP +a DT B-NP +sizable JJ I-NP +third-quarter JJ I-NP +loss NN I-NP +. . O + +The DT B-NP +Nasdaq NNP I-NP +composite NN I-NP +leaped VBD B-VP +7.52 CD B-NP +points NNS I-NP +, , O +or CC O +1.6 CD B-NP +% NN I-NP +, , O +to TO B-PP +470.80 CD B-NP +. . O + +Its PRP$ B-NP +largest JJS I-NP +previous JJ I-NP +rise NN I-NP +this DT B-NP +year NN I-NP +came VBD B-VP +Aug. NNP B-NP +7 CD I-NP +, , O +when WRB B-ADVP +it PRP B-NP +gained VBD B-VP +4.31 CD B-NP +. . O + +The DT B-NP +OTC NNP I-NP +market NN I-NP +'s POS B-NP +largest JJS I-NP +stocks NNS I-NP +soared VBD B-VP +as IN B-ADVP +well RB I-ADVP +, , O +as IN B-SBAR +the DT B-NP +Nasdaq NNP I-NP +100 CD I-NP +Index NNP B-NP +jumped VBD B-VP +10.01 CD B-NP +, , O +or CC O +2 CD B-NP +% NN I-NP +, , O +to TO B-PP +463.06 CD B-NP +. . O + +The DT B-NP +Nasdaq NNP I-NP +Financial NNP I-NP +Index NNP I-NP +rose VBD B-VP +5.04 CD B-NP +, , O +or CC O +1.1 CD B-NP +% NN I-NP +, , O +to TO B-PP +460.33 CD B-NP +. . O + +By IN B-PP +comparison NN B-NP +, , O +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrials NNP I-NP +and CC O +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +Composite NNP I-NP +each DT B-NP +rose VBD B-VP +1.5 CD B-NP +% NN I-NP +. . O + +Volume NN B-NP +totaled VBD B-VP +173.5 CD B-NP +million CD I-NP +shares NNS I-NP +, , O +30 CD B-NP +% NN I-NP +above IN B-PP +this DT B-NP +year NN I-NP +'s POS B-NP +average JJ I-NP +daily JJ I-NP +turnover NN I-NP +on IN B-PP +Nasdaq NNP B-NP +. . O + +Among IN B-PP +broader JJR B-NP +Nasdaq NNP I-NP +industry NN I-NP +groups NNS I-NP +, , O +the DT B-NP +utility NN I-NP +index NN I-NP +gained VBD B-VP +18.11 CD B-NP +to TO B-PP +761.38 CD B-NP +. . O + +The DT B-NP +transportation NN I-NP +and CC I-NP +insurance NN I-NP +sectors NNS I-NP +each DT B-NP +posted VBD B-VP +gains NNS B-NP +of IN B-PP +8.59 CD B-NP +, , O +with IN B-PP +the DT B-NP +transports NNS I-NP +finishing VBG B-VP +at IN B-PP +486.74 CD B-NP +and CC O +the DT B-NP +insurers NNS I-NP +at IN B-PP +537.91 CD B-NP +. . O + +The DT B-NP +Nasdaq NNP I-NP +industrial JJ I-NP +index NN I-NP +climbed VBD B-VP +8.17 CD B-NP +to TO B-PP +458.52 CD B-NP +, , O +and CC O +the DT B-NP +`` `` I-NP +other JJ I-NP +finance NN I-NP +'' '' I-NP +index NN I-NP +, , O +made VBN B-VP +up IN B-PRT +of IN B-PP +commercial JJ B-NP +banks NNS I-NP +and CC O +real JJ B-NP +estate NN I-NP +and CC I-NP +brokerage NN I-NP +firms NNS I-NP +, , O +rose VBD B-VP +3.97 CD B-NP +to TO B-PP +545.96 CD B-NP +. . O + +The DT B-NP +index NN I-NP +of IN B-PP +smaller JJR B-NP +banks NNS I-NP +improved VBN B-VP +1.97 CD B-NP +. . O + +Of IN B-PP +the DT B-NP +4,346 CD I-NP +issues NNS I-NP +that WDT B-NP +changed VBD B-VP +hands NNS B-NP +, , O +1,435 CD B-NP +rose VBD B-VP +and CC O +629 CD B-NP +fell VBD B-VP +. . O + +Jeremiah NNP B-NP +Mullins NNP I-NP +, , O +head NN B-NP +of IN B-PP +OTC NNP B-NP +trading NN I-NP +at IN B-PP +Dean NNP B-NP +Witter NNP I-NP +Reynolds NNP I-NP +, , O +said VBD B-VP +both DT B-NP +institutional JJ I-NP +and CC I-NP +retail JJ I-NP +investors NNS I-NP +were VBD B-VP +buying VBG I-VP +. . O + +But CC O +there EX B-NP +was VBD B-VP +a DT B-NP +dearth NN I-NP +of IN B-PP +sellers NNS B-NP +, , O +traders NNS B-NP +said VBD B-VP +, , O +so RB O +buyers NNS B-NP +had VBD B-VP +to TO I-VP +bid VB I-VP +prices NNS B-NP +up VB B-ADVP +to TO B-VP +entice VB I-VP +them PRP B-NP +. . O + +`` `` O +There EX B-NP +'s VBZ B-VP +no DT B-NP +pressure NN I-NP +on IN B-PP +OTC NNP B-NP +stocks NNS I-NP +at IN B-PP +this DT B-NP +point NN I-NP +, , O +'' '' O +said VBD B-VP +Mr. NNP B-NP +Mullins NNP I-NP +, , O +who WP B-NP +said VBD B-VP +some DT B-NP +buyers NNS I-NP +are VBP B-VP +beginning VBG I-VP +to TO I-VP +shop VB I-VP +among IN B-PP +smaller JJR B-NP +OTC NNP I-NP +issues NNS I-NP +. . O + +Microsoft NNP B-NP +'s POS B-NP +surge NN I-NP +followed VBD B-VP +a DT B-NP +report NN I-NP +this DT B-NP +week NN I-NP +of IN B-PP +substantially RB B-NP +improved VBN I-NP +earnings NNS I-NP +for IN B-PP +its PRP$ B-NP +first JJ I-NP +quarter NN I-NP +, , O +ended VBN B-VP +Sept. NNP B-NP +30 CD I-NP +. . O + +The DT B-NP +stock NN I-NP +was VBD B-VP +trading VBG I-VP +at IN B-PP +69 CD B-NP +just RB B-NP +two CD I-NP +weeks NNS I-NP +ago RB B-ADVP +. . O + +Rick NNP B-NP +Sherlund NNP I-NP +, , O +a DT B-NP +Goldman NNP I-NP +Sachs NNP I-NP +analyst NN I-NP +, , O +has VBZ B-VP +raised VBN I-VP +his PRP$ B-NP +earnings NNS I-NP +estimates NNS B-NP +for IN B-PP +the DT B-NP +company NN I-NP +twice RB B-ADVP +in IN B-PP +the DT B-NP +past JJ I-NP +two CD I-NP +weeks NNS I-NP +, , O +citing VBG B-VP +improved VBN B-NP +margins NNS I-NP +. . O + +After IN B-SBAR +the DT B-NP +earnings NNS I-NP +were VBD B-VP +announced VBN I-VP +, , O +he PRP B-NP +raised VBD B-VP +his PRP$ B-NP +fiscal JJ I-NP +1990 CD I-NP +estimate NN I-NP +to TO B-PP +between IN B-NP +$ $ I-NP +3.80 CD I-NP +and CC I-NP +$ $ I-NP +4 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Microsoft NNP B-NP +earned VBD B-VP +$ $ B-NP +3.03 CD I-NP +a DT B-NP +share NN I-NP +in IN B-PP +fiscal JJ B-NP +1989 CD I-NP +. . O + +Among IN B-PP +other JJ B-NP +software NN I-NP +issues NNS I-NP +, , O +Autodesk NNP B-NP +jumped VBD B-VP +1 CD B-NP +1\/4 CD I-NP +to TO B-PP +42 CD B-NP +, , O +Lotus NNP B-NP +Development NNP I-NP +was VBD B-VP +unchanged JJ B-ADJP +at IN B-PP +32 CD B-NP +1\/2 CD I-NP +, , O +Novell NNP B-NP +jumped VBD B-VP +7\/8 CD B-NP +to TO B-PP +30 CD B-NP +3\/4 CD I-NP +, , O +Ashton-Tate NNP B-NP +gained VBD B-VP +1\/4 CD B-NP +to TO B-PP +10 CD B-NP +5\/8 CD I-NP +, , O +and CC O +Oracle NNP B-NP +Systems NNP I-NP +rose VBD B-VP +3\/4 CD B-NP +to TO B-PP +25 CD B-NP +3\/4 CD I-NP +. . O + +Caere NNP B-NP +, , O +a DT B-NP +new JJ I-NP +software NN I-NP +issue NN I-NP +, , O +surged VBD B-VP +from IN B-PP +its PRP$ B-NP +offering NN I-NP +price NN I-NP +of IN B-PP +12 CD B-NP +to TO B-VP +close VB I-VP +at IN B-PP +16 CD B-NP +1\/8 CD I-NP +. . O + +The DT B-NP +company NN I-NP +also RB B-ADVP +makes VBZ B-VP +optical JJ B-NP +character NN I-NP +recognition NN I-NP +equipment NN I-NP +. . O + +Caere NNP B-NP +was VBD B-VP +underwritten VBN I-VP +by IN B-PP +Alex NNP B-NP +. . I-NP +Brown NNP I-NP +& CC I-NP +Sons NNP I-NP +. . O + +Another DT B-NP +recently RB I-NP +offered VBN I-NP +Alex NNP I-NP +. . I-NP +Brown NNP I-NP +issue NN I-NP +, , O +Rally NNP B-NP +'s POS B-NP +, , O +surged VBD B-VP +3 CD B-NP +1\/8 CD I-NP +to TO B-PP +23 CD B-NP +. . O + +The DT B-NP +operator NN I-NP +of IN B-PP +fast-food NN B-NP +restaurants NNS I-NP +, , O +whose WP$ B-NP +shares NNS I-NP +began VBD B-VP +trading NN I-VP +last JJ B-NP +Friday NNP I-NP +, , O +climbed VBD B-VP +3 CD B-NP +1\/8 CD I-NP +to TO B-PP +23 CD B-NP +on IN B-PP +944,000 CD B-NP +shares NNS I-NP +. . O + +Its PRP$ B-NP +1.7 CD I-NP +million-share JJ I-NP +offering NN I-NP +was VBD B-VP +priced VBN I-VP +at IN B-PP +15 CD B-NP +. . O + +Valley NNP B-NP +National NNP I-NP +'s POS B-NP +slide NN I-NP +of IN B-PP +5 NN B-NP +3\/4 CD I-NP +points NNS I-NP +to TO B-PP +18 CD B-NP +1\/2 CD I-NP +on IN B-PP +4.2 CD B-NP +million CD I-NP +shares NNS I-NP +followed VBD B-VP +its PRP$ B-NP +report NN I-NP +late JJ B-NP +Wednesday NNP I-NP +of IN B-PP +a DT B-NP +$ $ I-NP +72.2 CD I-NP +million CD I-NP +third-quarter JJ I-NP +loss NN I-NP +. . O + +In IN B-PP +the DT B-NP +1988 CD I-NP +quarter NN I-NP +, , O +the DT B-NP +Phoenix NNP I-NP +, , I-NP +Ariz. NNP I-NP +, , I-NP +commercial JJ I-NP +banking NN I-NP +concern NN I-NP +earned VBD B-VP +$ $ B-NP +18.7 CD I-NP +million CD I-NP +. . O + +Valley NNP B-NP +National NNP I-NP +said VBD B-VP +its PRP$ O +$ $ O +110 CD O +million CD O +provision NN O +for IN B-PP +credit NN B-NP +losses NNS I-NP +and CC B-NP +$ $ I-NP +11 CD I-NP +million CD I-NP +provision NN I-NP +for IN B-PP +other JJ B-NP +real JJ I-NP +estate NN I-NP +owned VBN B-VP +is VBZ B-VP +related VBN I-VP +to TO B-PP +weakness NN B-NP +in IN B-PP +the DT B-NP +Arizona NNP I-NP +real JJ I-NP +estate NN I-NP +market NN I-NP +. . O + +Additionally RB B-ADVP +, , O +Moody NNP B-NP +'s POS B-NP +Investors NNP I-NP +Service NNP I-NP +said VBD B-VP +it PRP B-NP +downgraded VBD B-VP +Valley NNP B-NP +National NNP I-NP +'s POS B-NP +senior JJ I-NP +debt NN I-NP +and CC O +confirmed VBD B-VP +the DT B-NP +company NN I-NP +'s POS B-NP +commercial JJ I-NP +paper NN I-NP +rating NN I-NP +of IN B-PP +`` `` O +not RB B-ADJP +prime JJ I-ADJP +. . O +'' '' O + +A DT B-NP +new JJ I-NP +issue NN I-NP +, , O +Exabyte NNP B-NP +, , O +surged VBD B-VP +2 CD B-NP +1\/8 CD I-NP +from IN B-PP +its PRP$ B-NP +initial JJ I-NP +offering NN I-NP +price NN I-NP +to TO B-VP +close VB I-VP +at IN B-PP +12 CD B-NP +1\/8 CD I-NP +. . O + +The DT B-NP +offering NN I-NP +was VBD B-VP +for IN B-PP +about IN B-NP +2.8 CD I-NP +million CD I-NP +shares NNS I-NP +of IN B-PP +the DT B-NP +data NNS I-NP +storage NN I-NP +equipment NN I-NP +maker NN I-NP +; : O +more JJR B-NP +than IN I-NP +2.2 CD I-NP +million CD I-NP +shares NNS I-NP +changed VBD B-VP +hands NNS B-NP +after IN B-SBAR +trading NN B-NP +began VBD B-VP +. . O + +Dell NNP B-NP +Computer NNP I-NP +dropped VBD B-VP +7\/8 CD B-NP +to TO B-PP +6 CD B-NP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +earnings NNS B-NP +for IN B-PP +the DT B-NP +year NN I-NP +ending VBG B-VP +Jan. NNP B-NP +28 CD I-NP +, , I-NP +1990 CD I-NP +, , O +are VBP B-VP +expected VBN I-VP +to TO I-VP +be VB I-VP +25 CD B-NP +to TO I-NP +35 CD I-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +compared VBN B-PP +with IN B-PP +a DT B-NP +previous JJ I-NP +estimate NN I-NP +of IN B-PP +50 CD B-NP +to TO I-NP +60 CD I-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +Nutmeg NNP B-NP +Industries NNPS I-NP +lost VBD B-VP +1 CD B-NP +3\/4 CD I-NP +to TO B-PP +14 CD B-NP +. . O + +Raymond NNP B-NP +James NNP I-NP +& CC I-NP +Associates NNPS I-NP +in IN B-PP +St. NNP B-NP +Petersburg NNP I-NP +, , O +Fla. NNP B-NP +, , O +lowered VBD B-VP +its PRP$ B-NP +third-quarter JJ I-NP +earnings NNS I-NP +estimate NN B-NP +for IN B-PP +the DT B-NP +company NN I-NP +, , O +according VBG B-PP +to TO B-PP +Dow NNP B-NP +Jones NNP I-NP +Professional NNP I-NP +Investor NNP I-NP +Report NNP I-NP +. . O + +A.P. NNP B-NP +Green NNP I-NP +Industries NNPS I-NP +advanced VBD B-VP +1 CD B-NP +5\/8 CD I-NP +to TO B-PP +36 CD B-NP +1\/8 CD I-NP +. . O + +East NNP B-NP +Rock NNP I-NP +Partners NNPS I-NP +, , O +which WDT B-NP +has VBZ B-VP +indicated VBN I-VP +it PRP B-NP +might MD B-VP +make VB I-VP +a DT B-NP +bid NN I-NP +for IN B-PP +the DT B-NP +company NN I-NP +, , O +said VBD B-VP +A.P. NNP B-NP +Green NNP I-NP +, , O +a DT B-NP +refractory JJ I-NP +products NNS I-NP +maker NN I-NP +, , O +told VBD B-VP +the DT B-NP +partnership NN I-NP +it PRP B-NP +is VBZ B-VP +n't RB O +for IN B-PP +sale NN B-NP +. . O + +Row NNP B-NP +21 CD I-NP +of IN B-PP +Section NN B-NP +9 CD I-NP +of IN B-PP +the DT B-NP +Upper NNP I-NP +Reserved NNP I-NP +at IN B-PP +Candlestick NNP B-NP +Park NNP I-NP +is VBZ B-VP +a DT B-NP +lofty JJ I-NP +perch NN I-NP +, , O +only RB B-NP +a DT I-NP +few JJ I-NP +steps NNS I-NP +from IN B-PP +the DT B-NP +very JJ I-NP +top NN I-NP +of IN B-PP +the DT B-NP +stands NNS I-NP +. . O + +From IN B-PP +my PRP$ B-NP +orange JJ I-NP +seat NN I-NP +, , O +I PRP B-NP +looked VBD B-VP +over IN B-PP +the DT B-NP +first-base JJ I-NP +line NN I-NP +and CC O +the DT B-NP +new-mown JJ I-NP +ball NN I-NP +field NN I-NP +in IN B-PP +the DT B-NP +warm JJ I-NP +sun NN I-NP +of IN B-PP +the DT B-NP +last JJ I-NP +few JJ I-NP +minutes NNS I-NP +before IN B-PP +what WP B-NP +was VBD B-VP +to TO I-VP +have VB I-VP +been VBN I-VP +the DT B-NP +third JJ I-NP +game NN I-NP +of IN B-PP +the DT B-NP +World NNP I-NP +Series NNP I-NP +. . O + +It PRP B-NP +was VBD B-VP +five CD B-NP +in IN B-PP +the DT B-NP +afternoon NN I-NP +, , O +but CC O +that DT B-NP +was VBD B-VP +Pacific NNP B-NP +time NN I-NP +. . O + +Back RB B-ADVP +in IN B-PP +New NNP B-NP +York NNP I-NP +the DT B-NP +work NN I-NP +day NN I-NP +was VBD B-VP +already RB B-ADVP +over IN I-ADVP +, , O +so IN O +I PRP B-NP +did VBD B-VP +n't RB I-VP +have VB I-VP +to TO I-VP +feel VB I-VP +guilty JJ B-ADJP +. . O + +Even RB B-ADVP +still RB I-ADVP +, , O +I PRP B-NP +did VBD B-VP +feel VB I-VP +self-indulgent JJ B-ADJP +, , O +and CC O +I PRP B-NP +could MD B-VP +n't RB I-VP +help VB I-VP +remembering VBG I-VP +my PRP$ B-NP +father NN I-NP +'s POS B-NP +contempt NN I-NP +for IN B-PP +a DT B-NP +rich JJ I-NP +medical JJ I-NP +colleague NN I-NP +who WP B-NP +would MD B-VP +go VB I-VP +to TO I-VP +watch VB I-VP +the DT B-NP +Tigers NNP I-NP +on IN B-PP +summer NN B-NP +afternoons NNS I-NP +. . O + +This DT B-NP +ballpark NN I-NP +, , O +the DT B-NP +Stick NNP I-NP +, , O +was VBD B-VP +not RB O +a DT B-NP +classic JJ I-NP +baseball NN I-NP +stadium NN I-NP +-- : O +too RB B-ADJP +symmetrical JJ I-ADJP +, , O +too RB B-NP +much JJ I-NP +bald JJ I-NP +concrete NN I-NP +. . O + +And CC O +it PRP B-NP +did VBD B-VP +n't RB I-VP +have VB I-VP +the DT B-NP +crowded VBN I-NP +wild JJ I-NP +intimacy NN I-NP +of IN B-PP +Yankee NNP B-NP +Stadium NNP I-NP +. . O + +But CC O +I PRP B-NP +liked VBD B-VP +the DT B-NP +easy JJ I-NP +friendliness NN I-NP +of IN B-PP +the DT B-NP +people NNS I-NP +around IN B-PP +me PRP B-NP +, , O +liked VBD B-VP +it PRP B-NP +that IN B-SBAR +they PRP B-NP +'d MD B-VP +brought VBN I-VP +their PRP$ B-NP +children NNS I-NP +, , O +found VBD B-VP +it PRP B-NP +charming JJ B-ADJP +that IN B-SBAR +, , O +true JJ B-NP +citizens NNS I-NP +of IN B-PP +the DT B-NP +state NN I-NP +of IN B-PP +the DT B-NP +future NN I-NP +, , O +they PRP B-NP +had VBD B-VP +brought VBN I-VP +so RB B-NP +many JJ I-NP +TVs NNS I-NP +and CC I-NP +radios NNS I-NP +to TO B-VP +stay VB I-VP +in IN B-PP +touch NN B-NP +with IN B-PP +electroreality NN B-NP +at IN B-PP +a DT B-NP +live JJ I-NP +event NN I-NP +. . O + +Maybe RB B-ADVP +it PRP B-NP +was VBD B-VP +their PRP$ B-NP +peculiar JJ I-NP +sense NN I-NP +of IN B-PP +history NN B-NP +. . O + +The DT B-NP +broadcasters NNS I-NP +were VBD B-VP +, , O +after IN B-PP +all DT B-NP +, , O +documenting VBG B-VP +the DT B-NP +game NN I-NP +, , O +ratifying VBG B-VP +its PRP$ B-NP +occurrence NN I-NP +for IN B-PP +millions NNS B-NP +outside IN B-PP +the DT B-NP +Stick NNP I-NP +. . O + +Why WRB B-ADVP +not RB O +watch VB B-VP +or CC I-VP +hear VB I-VP +your PRP$ B-NP +experience NN I-NP +historicized VBN B-VP +while IN B-SBAR +you PRP B-NP +were VBD B-VP +living VBG I-VP +it PRP B-NP +? . O + +The DT B-NP +day NN I-NP +was VBD B-VP +saturated VBN I-VP +with IN B-PP +the DT B-NP +weight NN I-NP +of IN B-PP +its PRP$ B-NP +own JJ I-NP +impending JJ I-NP +history NN I-NP +. . O + +Long JJ B-NP +lines NNS I-NP +of IN B-PP +people NNS B-NP +waited VBD B-VP +to TO I-VP +buy VB I-VP +special JJ B-NP +souvenir NN I-NP +World NNP I-NP +Series NNP I-NP +postcards NNS I-NP +with IN B-PP +official JJ B-NP +postmarks NNS I-NP +. . O + +Thousands NNS B-NP +of IN B-PP +us PRP B-NP +had VBD B-VP +paid VBN I-VP +$ $ B-NP +5 NN I-NP +for IN B-PP +the DT B-NP +official JJ I-NP +souvenir NN I-NP +book NN I-NP +with IN B-PP +its PRP$ B-NP +historical JJ I-NP +essays NNS I-NP +on IN B-PP +Series NNP B-NP +trivia NNS I-NP +, , O +its PRP$ B-NP +historical JJ I-NP +photographs NNS I-NP +of IN B-PP +great JJ B-NP +moments NNS I-NP +in IN B-PP +Series NNP B-NP +past JJ I-NP +, , O +and CC O +its PRP$ B-NP +instructions NNS I-NP +, , O +in IN B-PP +English NNP B-NP +and CC I-NP +Spanish JJ I-NP +, , O +for IN B-PP +filling VBG B-VP +in IN B-PRT +the DT B-NP +scorecard NN I-NP +. . O + +Pitcher NN B-NP += SYM B-VP +lanzador FW B-NP +. . O + +Homerun NN B-NP += SYM B-VP +jonron FW B-NP +. . O + +Players NNS B-NP +ran VBD B-VP +out IN B-ADVP +on IN B-PP +the DT B-NP +field NN I-NP +way NN B-ADVP +below IN I-ADVP +, , O +and CC O +the DT B-NP +stands NNS I-NP +began VBD B-VP +to TO I-VP +reverberate VB I-VP +. . O + +It PRP B-NP +must MD B-VP +be VB I-VP +a DT B-NP +local JJ I-NP +custom NN I-NP +, , O +I PRP B-NP +thought VBD B-VP +, , O +stamping VBG B-VP +feet NNS B-NP +to TO B-VP +welcome VB I-VP +the DT B-NP +team NN I-NP +. . O + +But CC O +then RB B-ADVP +the DT B-NP +noise NN I-NP +turned VBD B-VP +into IN B-PP +a DT B-NP +roar NN I-NP +. . O + +And CC O +no DT B-NP +one CD I-NP +was VBD B-VP +shouting VBG I-VP +. . O + +No DT B-NP +one CD I-NP +around IN B-PP +me PRP B-NP +was VBD B-VP +saying VBG I-VP +anything NN B-NP +. . O + +Because IN B-SBAR +we PRP B-NP +all DT B-NP +were VBD B-VP +busy JJ B-ADJP +riding VBG B-VP +a DT B-NP +wave NN I-NP +. . O + +Sixty CD B-NP +thousand CD I-NP +surfers NNS I-NP +atop IN B-PP +a DT B-NP +concrete JJ I-NP +wall NN I-NP +, , O +waiting VBG B-VP +for IN B-PP +the DT B-NP +wipeout NN I-NP +. . O + +Only RB B-ADVP +at IN B-PP +the DT B-NP +moment NN I-NP +of IN B-PP +maximum JJ B-NP +roll NN I-NP +did VBD O +I PRP B-NP +grasp VBP B-VP +what WP B-NP +was VBD B-VP +going VBG I-VP +on RB B-PRT +. . O + +Then RB B-ADVP +I PRP B-NP +remembered VBD B-VP +the DT B-NP +quake NN I-NP +of IN B-PP +'71 CD B-NP +, , O +which WDT B-NP +I PRP B-NP +experienced VBD B-VP +in IN B-PP +Santa NNP B-NP +Barbara NNP I-NP +in IN B-PP +a DT B-NP +second-story JJ I-NP +motel NN I-NP +room NN I-NP +. . O + +When WRB B-ADVP +the DT B-NP +swaying NN I-NP +of IN B-PP +the DT B-NP +building NN I-NP +woke VBD B-VP +me PRP B-NP +up IN B-PRT +, , O +I PRP B-NP +reasoned VBD B-VP +that IN B-SBAR +a DT B-LST +-RRB- ) O +I PRP B-NP +was VBD B-VP +in IN B-PP +Southern NNP B-NP +California NNP I-NP +; : O +b NN B-LST +-RRB- ) O +the DT B-NP +bed NN I-NP +was VBD B-VP +moving VBG I-VP +; : O +c NN B-LST +-RRB- ) O +it PRP B-NP +must MD B-VP +be VB I-VP +a DT B-NP +Magic NNP I-NP +Fingers NNP I-NP +bed NN I-NP +that WDT B-NP +had VBD B-VP +short-circuited VBN I-VP +. . O + +Then RB B-ADVP +I PRP B-NP +noticed VBD B-VP +the DT B-NP +overhead JJ I-NP +light NN I-NP +was VBD B-VP +swaying VBG I-VP +on IN B-PP +its PRP$ B-NP +cord NN I-NP +and CC O +realized VBD B-VP +what WP B-NP +had VBD B-VP +happened VBN I-VP +. . O + +What WP B-NP +should MD O +I PRP B-NP +do VB B-VP +? . O + +Get VB B-VP +out IN B-PP +of IN B-PP +the DT B-NP +possibly RB I-NP +collapsing VBG I-NP +building NN I-NP +to TO B-PP +the DT B-NP +parking NN I-NP +lot NN I-NP +. . O + +But CC O +the DT B-NP +lot NN I-NP +might MD B-VP +split VB I-VP +into IN B-PP +crevasses NNS B-NP +, , O +so IN O +I PRP B-NP +had VBD B-VP +better JJR I-VP +stand VB I-VP +on IN B-PP +my PRP$ B-NP +car NN I-NP +, , O +which WDT B-NP +probably RB B-ADVP +was VBD B-VP +wider JJR B-ADJP +than IN B-PP +the DT B-NP +average JJ I-NP +crevasse NN I-NP +. . O + +Fortunately RB B-ADVP +, , O +the DT B-NP +quake NN I-NP +was VBD B-VP +over IN B-ADVP +before IN B-SBAR +I PRP B-NP +managed VBD B-VP +to TO I-VP +run VB I-VP +out IN B-ADVP +and CC O +stand NN B-VP +naked JJ B-ADJP +on IN B-PP +the DT B-NP +hood NN I-NP +. . O + +At IN B-PP +the DT B-NP +Stick NNP I-NP +, , O +while IN B-SBAR +the DT B-NP +world NN I-NP +shook VBD B-VP +, , O +I PRP B-NP +thought VBD B-VP +of IN B-PP +that DT B-NP +morning NN I-NP +and CC O +then RB B-ADVP +it PRP B-NP +struck VBD B-VP +me PRP B-NP +that IN B-SBAR +this DT B-NP +time NN I-NP +was VBD B-VP +different JJ B-ADJP +. . O + +If IN B-SBAR +I PRP B-NP +survived VBD B-VP +, , O +I PRP B-NP +would MD B-VP +have VB I-VP +achieved VBN I-VP +every DT B-NP +journalist NN I-NP +'s POS B-NP +highest JJS I-NP +wish VBP I-NP +. . O + +I PRP B-NP +was VBD B-VP +an DT B-NP +eyewitness NN I-NP +of IN B-PP +the DT B-NP +most RBS I-NP +newsworthy JJ I-NP +event NN I-NP +on IN B-PP +the DT B-NP +planet NN I-NP +at IN B-PP +that DT B-NP +moment NN I-NP +. . O + +What WP B-NP +was VBD B-VP +my PRP$ B-NP +angle NN I-NP +? . O + +How WRB B-ADVP +would MD O +I PRP B-NP +file VB B-VP +? . O + +All DT B-NP +these DT I-NP +thoughts NNS I-NP +raced VBD B-VP +through IN B-PP +my PRP$ B-NP +head NN I-NP +in IN B-PP +the DT B-NP +15 CD I-NP +seconds NNS I-NP +of IN B-PP +the DT B-NP +earthquake NN I-NP +'s POS B-NP +actual JJ I-NP +duration NN I-NP +. . O + +The DT B-NP +rest NN I-NP +is VBZ B-VP +, , O +of IN B-PP +course NN B-NP +, , O +history NN B-NP +. . O + +The DT B-NP +Stick NNP I-NP +did VBD B-VP +n't RB I-VP +fall VB I-VP +. . O + +The DT B-NP +real JJ I-NP +tragedies NNS I-NP +occurred VBD B-VP +elsewhere RB B-ADVP +, , O +as IN B-SBAR +we PRP B-NP +soon RB B-ADVP +found VBD B-VP +out RB B-PP +. . O + +But CC O +for IN B-PP +a DT B-NP +few JJ I-NP +minutes NNS I-NP +there EX B-ADVP +, , O +relief NN B-NP +abounded VBD B-VP +. . O + +A DT B-NP +young JJ I-NP +mother NN I-NP +found VBD B-VP +her PRP$ B-NP +boy NN I-NP +, , O +who WP B-NP +had VBD B-VP +been VBN I-VP +out IN B-ADVP +buying VBG B-VP +a DT B-NP +hotdog NN I-NP +. . O + +The DT B-NP +wall NN I-NP +behind IN B-PP +me PRP B-NP +was VBD B-VP +slightly RB B-ADJP +deformed JJ I-ADJP +, , O +but CC O +the DT B-NP +center NN I-NP +had VBD B-VP +held VBN I-VP +. . O + +And CC O +most RBS B-NP +of IN B-PP +us PRP B-NP +waited VBD B-VP +for IN B-PP +a DT B-NP +while NN I-NP +for IN B-SBAR +the DT B-NP +game NN I-NP +to TO B-VP +start VB I-VP +. . O + +Then RB B-ADVP +we PRP B-NP +began VBD B-VP +to TO I-VP +file VB I-VP +out IN B-ADVP +, , O +to TO B-VP +wait VB I-VP +safely RB B-ADVP +on IN B-PP +terra FW B-NP +firma FW I-NP +for IN B-PP +the DT B-NP +opening NN I-NP +pitch NN I-NP +. . O + +It PRP B-NP +was VBD B-VP +during IN B-PP +the DT B-NP +quiet JJ I-NP +exodus NN I-NP +down RP B-PP +the DT B-NP +pristine JJ I-NP +concrete JJ I-NP +ramps NNS I-NP +of IN B-PP +the DT B-NP +Stick NNP I-NP +that IN B-ADVP +I PRP B-NP +really RB B-ADVP +understood VBD B-VP +the DT B-NP +point NN I-NP +of IN B-PP +all PDT B-NP +those DT I-NP +Walkmen NNP I-NP +and CC I-NP +Watchmen NNP I-NP +. . O + +The DT B-NP +crowd NN I-NP +moved VBD B-VP +in IN B-PP +clumps NNS B-NP +, , O +clumps NNS B-NP +magnetized VBN B-VP +around IN B-PP +an DT B-NP +electronic JJ I-NP +nucleus NN I-NP +. . O + +In IN B-PP +this DT B-NP +way NN I-NP +, , O +while IN B-SBAR +the DT B-NP +Stick NNP I-NP +itself PRP B-NP +was VBD B-VP +blacked VBN I-VP +out IN B-PRT +, , O +we PRP B-NP +kept VBD B-VP +up VB B-PP +to TO B-PP +date VB B-NP +on IN B-PP +events NNS B-NP +. . O + +Within IN B-PP +15 CD B-NP +minutes NNS I-NP +of IN B-PP +the DT B-NP +quake NN I-NP +itself PRP B-NP +, , O +I PRP B-NP +was VBD B-VP +able JJ B-ADJP +to TO B-VP +see VB I-VP +pictures NNS B-NP +of IN B-PP +the DT B-NP +collapsed VBN I-NP +section NN I-NP +of IN B-PP +the DT B-NP +Bay NNP I-NP +Bridge NNP I-NP +. . O + +Increasingly RB B-NP +accurate JJ I-NP +estimates NNS I-NP +of IN B-PP +the DT B-NP +severity NN I-NP +of IN B-PP +the DT B-NP +quake NN I-NP +became VBD B-VP +available JJ B-ADJP +before IN B-SBAR +I PRP B-NP +got VBD B-VP +to TO B-PP +my PRP$ B-NP +car NN I-NP +. . O + +And CC O +by IN B-PP +then RB B-ADVP +, , O +expensive JJ B-NP +automobile NN I-NP +sound NN I-NP +systems NNS I-NP +were VBD B-VP +keeping VBG I-VP +the DT B-NP +gridlocked VBN I-NP +parking NN I-NP +lot NN I-NP +by IN B-PP +the DT B-NP +bay NN I-NP +informed VBN B-ADJP +about IN B-PP +the DT B-NP +fire NN I-NP +causing VBG B-VP +the DT B-NP +big JJ I-NP +black JJ I-NP +plume NN I-NP +of IN B-PP +smoke NN B-NP +we PRP B-NP +saw VBD B-VP +on IN B-PP +the DT B-NP +northern JJ I-NP +horizon NN I-NP +. . O + +Darkness NN B-NP +fell VBD B-VP +. . O + +But CC O +the DT B-NP +broadcasts NNS I-NP +continued VBD B-VP +through IN B-PP +the DT B-NP +blacked-out JJ I-NP +night NN I-NP +, , O +with IN B-PP +pictures NNS B-NP +of IN B-PP +the DT B-NP +sandwiched VBN I-NP +highway NN I-NP +ganglion NN I-NP +in IN B-PP +Oakland NNP B-NP +and CC O +firefighting NN B-NP +in IN B-PP +the DT B-NP +Marina NNP I-NP +district NN I-NP +. . O + +By IN B-PP +then RB B-ADVP +, , O +our PRP$ B-NP +little JJ I-NP +sand NN I-NP +village NN I-NP +of IN B-PP +cars NNS B-NP +had VBD B-VP +been VBN I-VP +linked VBN I-VP +with IN B-PP +a DT B-NP +global JJ I-NP +village NN I-NP +of IN B-PP +listeners NNS B-NP +and CC I-NP +viewers NNS I-NP +. . O + +Everyone NN B-NP +at IN B-PP +the DT B-NP +Stick NNP I-NP +that DT B-NP +day NN I-NP +had VBD B-VP +started VBN I-VP +out IN B-PRT +as IN B-PP +a DT B-NP +spectator NN I-NP +and CC O +ended VBD B-VP +up IN B-PRT +as IN B-PP +a DT B-NP +participant NN I-NP +. . O + +In IN B-PP +fact NN B-NP +, , O +the DT B-NP +entire JJ I-NP +population NN I-NP +of IN B-PP +the DT B-NP +Bay NNP I-NP +Area NNP I-NP +had VBD B-VP +ended VBN I-VP +up IN B-PRT +with IN B-PP +this DT B-NP +dual JJ I-NP +role NN I-NP +of IN B-PP +actor NN B-NP +and CC I-NP +audience NN I-NP +. . O + +The DT B-NP +reporters NNS I-NP +were VBD B-VP +victims NNS B-NP +and CC O +some DT B-NP +of IN B-PP +the DT B-NP +victims NNS I-NP +turned VBD B-VP +into IN B-PP +unofficial JJ B-NP +reporters NNS I-NP +. . O + +The DT B-NP +outstanding JJ I-NP +example NN I-NP +of IN B-PP +this DT B-NP +was VBD B-VP +the DT B-NP +motorist NN I-NP +on IN B-PP +the DT B-NP +Bay NNP I-NP +Bridge NNP I-NP +who WP B-NP +had VBD B-VP +the DT B-NP +presence NN I-NP +of IN B-PP +mind NN B-NP +to TO B-VP +take VB I-VP +out RP B-PRT +a DT B-NP +video NN I-NP +camera NN I-NP +at IN B-PP +the DT B-NP +absolutely RB I-NP +crucial JJ I-NP +moment NN I-NP +and CC O +record VB B-VP +the DT B-NP +car NN I-NP +in IN B-PP +front NN B-NP +as IN B-SBAR +it PRP B-NP +fell VBD B-VP +into IN B-PP +the DT B-NP +gap NN I-NP +in IN B-PP +the DT B-NP +roadway NN I-NP +. . O + +The DT B-NP +tape NN I-NP +was VBD B-VP +on IN B-PP +tv NN B-NP +before IN B-SBAR +the DT B-NP +night NN I-NP +was VBD B-VP +out RB B-ADVP +. . O + +Marshall NNP B-NP +McLuhan NNP I-NP +, , O +you PRP B-NP +should MD B-VP +have VB I-VP +been VBN I-VP +there RB B-ADVP +at IN B-PP +that DT B-NP +hour NN I-NP +. . O + +Investors NNS B-NP +who WP B-NP +received VBD B-VP +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +Inc. NNP I-NP +'s POS B-NP +latest JJS I-NP +stock NN I-NP +commentary NN I-NP +may MD B-VP +be VB I-VP +left VBN I-VP +with IN B-PP +blank JJ B-NP +expressions NNS I-NP +. . O + +The DT B-NP +first JJ I-NP +10 CD I-NP +pages NNS I-NP +of IN B-PP +the DT B-NP +76-page NNP I-NP +Weekly NNP I-NP +Portfolio NNP I-NP +Perspective NNP I-NP +are VBP B-VP +completely RB B-ADJP +blank JJ I-ADJP +, , O +except IN B-PP +for IN B-PP +the DT B-NP +page NN I-NP +numbers NNS I-NP +. . O + +Rather RB B-ADVP +than IN B-PP +printing NN B-NP +devils NNS I-NP +, , O +Shearson NNP B-NP +puts VBZ B-VP +all PDT B-NP +the DT I-NP +blame NN I-NP +on IN B-PP +the DT B-NP +unpredictable JJ I-NP +stock NN I-NP +market NN I-NP +. . O + +The DT B-NP +plunge NN I-NP +made VBN B-VP +Shearson NNP B-NP +'s POS B-NP +market NN I-NP +commentary NN I-NP +instantly RB B-ADVP +out IN B-PP +of IN B-PP +date NN B-NP +. . O + +In IN B-PP +fact NN B-NP +, , O +last JJ B-NP +Friday NNP I-NP +'s POS B-NP +190.58-point JJ I-NP +tumble NN I-NP +in IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +caught VBD B-VP +many JJ B-NP +people NNS I-NP +and CC I-NP +businesses NNS I-NP +by IN B-PP +surprise NN B-NP +, , O +not RB B-NP +the DT I-NP +least JJS I-NP +of IN B-PP +them PRP B-NP +brokerage NN B-NP +firms NNS I-NP +such JJ B-PP +as IN I-PP +Shearson NNP B-NP +that DT B-NP +print VB B-VP +their PRP$ B-NP +weekly JJ I-NP +market NN I-NP +commentaries NNS I-NP +on IN B-PP +Fridays NNPS B-NP +for IN B-PP +dissemination NN B-NP +the DT B-NP +following VBG I-NP +week NN I-NP +. . O + +Shearson NNP B-NP +, , O +a DT B-NP +62%-owned JJ I-NP +unit NN I-NP +of IN B-PP +American NNP B-NP +Express NNP I-NP +Co. NNP I-NP +, , O +did VBD B-VP +n't RB I-VP +have VB I-VP +enough JJ B-NP +time NN I-NP +to TO B-VP +update VB I-VP +its PRP$ B-NP +market NN I-NP +commentary NN I-NP +so RB O +, , O +`` `` O +We PRP B-NP +decided VBD B-VP +to TO I-VP +kill VB I-VP +our PRP$ B-NP +strategy NN I-NP +pieces NNS I-NP +, , O +'' '' O +says VBZ B-VP +Jack NNP B-NP +Rivkin NNP I-NP +, , O +the DT B-NP +head NN I-NP +of IN B-PP +Shearson NNP B-NP +'s POS B-NP +research NN I-NP +department NN I-NP +. . O + +The DT B-NP +first JJ I-NP +thought VBD I-NP +some DT B-NP +investors NNS I-NP +had VBD B-VP +was VBD B-VP +that IN B-SBAR +a DT B-NP +red-faced JJ I-NP +Shearson NNP I-NP +must MD B-VP +have VB I-VP +been VBN I-VP +wildly RB B-ADJP +bullish JJ I-ADJP +on IN B-PP +stocks NNS B-NP +in IN B-PP +its PRP$ B-NP +original JJ I-NP +commentary NN I-NP +, , O +and CC O +that DT B-NP +'s VBZ B-VP +why WRB B-ADVP +it PRP B-NP +purged VBD B-VP +its PRP$ B-NP +pages NNS I-NP +. . O + +Investors NNS B-NP +recalled VBD B-VP +that IN B-SBAR +Shearson NNP B-NP +last JJ B-NP +week NN I-NP +had VBD B-VP +been VBN I-VP +advising VBG I-VP +that IN B-SBAR +`` `` O +the DT B-NP +market NN I-NP +is VBZ B-VP +still RB I-VP +exhibiting VBG I-VP +all PDT B-NP +the DT I-NP +signs NNS I-NP +of IN B-PP +a DT B-NP +further JJ I-NP +advance NN I-NP +. . O +'' '' O + +Many JJ B-NP +other JJ I-NP +brokerage NN I-NP +firms NNS I-NP +had VBD B-VP +similarly RB B-NP +bullish JJ I-NP +views NNS I-NP +. . O + +But CC O +Mr. NNP B-NP +Rivkin NNP I-NP +insists VBZ B-VP +that IN B-SBAR +the DT B-NP +10 CD I-NP +pages NNS I-NP +were VBD B-VP +n't RB I-VP +pulled VBN I-VP +because IN B-SBAR +they PRP B-NP +were VBD B-VP +too RB B-ADJP +bullish JJ I-ADJP +. . O + +Instead RB B-ADVP +, , O +he PRP B-NP +says VBZ B-VP +, , O +`` `` O +they PRP B-NP +were VBD B-VP +cautious JJ B-ADJP +, , O +and CC O +that DT B-NP +was VBD B-VP +n't RB O +the DT B-NP +message NN I-NP +we PRP B-NP +wanted VBD B-VP +to TO I-VP +deliver VB I-VP +'' '' O +on IN B-PP +Monday NNP B-NP +. . O + +As IN B-SBAR +Mr. NNP B-NP +Rivkin NNP I-NP +explains VBZ B-VP +it PRP B-NP +, , O +`` `` O +We PRP B-NP +were VBD B-VP +raising VBG I-VP +some DT B-NP +caution NN I-NP +flags NNS I-NP +about IN B-PP +rate NN B-NP +rises VBZ I-NP +in IN B-PP +Europe NNP B-NP +and CC O +concerns NNS B-NP +about IN B-PP +the DT B-NP +LBO NNP I-NP +market NN I-NP +. . O + +And CC O +by IN B-PP +late JJ B-NP +Friday NNP I-NP +afternoon NN I-NP +, , O +actually RB B-ADVP +after IN B-PP +the DT B-NP +close NN I-NP +, , O +we PRP B-NP +decided VBD B-VP +that WDT B-NP +was VBD B-VP +the DT B-NP +wrong JJ I-NP +tone NN I-NP +to TO B-VP +take VB I-VP +. . O + +With IN B-SBAR +the DT B-NP +market NN I-NP +down RB B-ADVP +, , O +we PRP B-NP +wanted VBD B-VP +to TO I-VP +tell VB I-VP +people NNS B-NP +to TO B-VP +put VB I-VP +their PRP$ B-NP +orders NNS I-NP +in IN B-PRT +on IN B-PP +the DT B-NP +opening NN I-NP +. . O +'' '' O + +Both DT B-PP +before IN I-PP +and CC I-PP +after IN I-PP +the DT B-NP +Friday NNP I-NP +plunge NN I-NP +, , O +Shearson NNP B-NP +has VBZ B-VP +maintained VBN I-VP +a DT B-NP +recommended VBN I-NP +portfolio NN I-NP +weighting NN I-NP +of IN B-PP +65 CD B-NP +% NN I-NP +stocks NNS I-NP +, , O +20 CD B-NP +% NN I-NP +bonds NNS I-NP +and CC O +15 CD B-NP +% NN I-NP +cash NN I-NP +. . O + +Sheldon NNP B-NP +B. NNP I-NP +Lubar NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +Lubar NNP B-NP +& CC I-NP +Co. NNP I-NP +, , O +and CC O +John NNP B-NP +L. NNP I-NP +Murray NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +Universal NNP B-NP +Foods NNP I-NP +Corp. NNP I-NP +, , O +were VBD B-VP +elected VBN I-VP +to TO B-PP +the DT B-NP +board NN I-NP +of IN B-PP +this DT B-NP +engine NN I-NP +maker NN I-NP +. . O + +They PRP B-NP +succeed VBP B-VP +Robert NNP B-NP +W. NNP I-NP +Kasten NNP I-NP +and CC O +John NNP B-NP +R. NNP I-NP +Parker NNP I-NP +, , O +who WP B-NP +reached VBD B-VP +the DT B-NP +mandatory JJ I-NP +retirement NN I-NP +age NN I-NP +. . O + +China NNP B-NP +'s POS B-NP +slide NN I-NP +toward IN B-PP +recession NN B-NP +is VBZ B-VP +beginning VBG I-VP +to TO I-VP +look VB I-VP +like IN B-PP +a DT B-NP +free JJ I-NP +fall NN I-NP +. . O + +In IN B-PP +a DT B-NP +report NN I-NP +on IN B-PP +China NNP B-NP +'s POS B-NP +foundering VBG I-NP +economy NN I-NP +, , O +the DT B-NP +official NN I-NP +State NNP I-NP +Statistical NNP I-NP +Bureau NNP I-NP +disclosed VBD B-VP +that IN O +industrial JJ B-NP +output NN I-NP +last JJ B-NP +month NN I-NP +rose VBD B-VP +0.9 CD B-NP +% NN I-NP +from IN B-PP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +- : O +the DT B-NP +lowest JJS I-NP +growth NN I-NP +rate NN I-NP +in IN B-PP +a DT B-NP +decade NN I-NP +for IN B-PP +September NNP B-NP +. . O + +Retail JJ B-NP +sales NNS I-NP +are VBP B-VP +plummeting VBG I-VP +, , O +while IN B-SBAR +consumer NN B-NP +prices NNS I-NP +still RB B-ADVP +are VBP B-VP +rising VBG I-VP +. . O + +Chinese JJ B-NP +and CC I-NP +foreign JJ I-NP +economists NNS I-NP +now RB B-ADVP +predict VBP B-VP +prolonged VBN B-NP +stagflation NN I-NP +: : O +low JJ B-NP +growth NN I-NP +and CC O +high JJ B-NP +inflation NN I-NP +. . O + +`` `` O +The DT B-NP +economy NN I-NP +is VBZ B-VP +crashing VBG I-VP +hard JJ B-ADVP +, , O +'' '' O +says VBZ B-VP +an DT B-NP +Asian JJ I-NP +economist NN I-NP +in IN B-PP +Beijing NNP B-NP +. . O + +`` `` O +The DT B-NP +slowdown NN I-NP +is VBZ B-VP +taking VBG I-VP +hold VB B-NP +a DT B-NP +lot NN I-NP +more RBR B-ADVP +quickly RB I-ADVP +and CC I-ADVP +devastatingly RB I-ADVP +than IN B-SBAR +anyone NN B-NP +had VBD B-VP +expected VBN I-VP +. . O +'' '' O + +A DT B-NP +lengthy JJ I-NP +recession NN I-NP +, , O +if IN B-SBAR +it PRP B-NP +materializes VBZ B-VP +, , O +would MD B-VP +drain VB I-VP +state NN B-NP +coffers NNS I-NP +and CC O +create VB B-VP +severe JJ B-NP +hardships NNS I-NP +for IN B-PP +urban JJ B-NP +workers NNS I-NP +. . O + +Experts NNS B-NP +predict VBP B-VP +the DT B-NP +coming VBG I-NP +year NN I-NP +will MD B-VP +be VB I-VP +characterized VBN I-VP +by IN B-PP +flat JJ B-NP +or CC I-NP +negative JJ I-NP +industrial JJ I-NP +growth NN I-NP +, , O +rising VBG B-NP +unemployment NN I-NP +and CC O +a DT B-NP +widening VBG I-NP +budget NN I-NP +deficit NN I-NP +. . O + +Unless IN B-SBAR +the DT B-NP +government NN I-NP +suddenly RB B-ADVP +reverses VBZ B-VP +course NN B-NP +, , O +wages NNS B-NP +for IN B-PP +most RBS B-NP +workers NNS I-NP +wo MD B-VP +n't RB I-VP +keep VB I-VP +pace NN B-NP +with IN B-PP +inflation NN B-NP +, , O +creating VBG B-VP +a DT B-NP +potential JJ I-NP +source NN I-NP +of IN B-PP +urban JJ B-NP +unrest NN I-NP +. . O + +The DT B-NP +economy NN I-NP +'s POS B-NP +slowdown NN I-NP +is VBZ B-VP +due JJ B-ADJP +only RB I-ADJP +partly RB I-ADJP +to TO B-PP +the DT B-NP +austerity NN I-NP +program NN I-NP +launched VBN B-VP +in IN B-PP +September NNP B-NP +1988 CD I-NP +to TO B-VP +cool VB I-VP +an DT B-NP +overheated VBN I-NP +economy NN I-NP +and CC O +tame JJ B-VP +inflation NN B-NP +. . O + +-LRB- ( O +Industrial NNP B-NP +output NN I-NP +surged VBD B-VP +21 CD B-NP +% NN I-NP +in IN B-PP +1988 CD B-NP +, , O +while IN B-SBAR +inflation NN B-NP +peaked VBD B-VP +last JJ B-NP +February NNP I-NP +at IN B-PP +nearly RB B-NP +30 CD I-NP +% NN I-NP +. . O +-RRB- ) O + +The DT B-NP +slowdown NN I-NP +also RB B-ADVP +results VBZ B-VP +from IN B-PP +chronic JJ B-NP +energy NN I-NP +and CC I-NP +raw-materials NNS I-NP +shortages NNS I-NP +that WDT B-NP +force VBP B-VP +many JJ B-NP +factories NNS I-NP +to TO B-VP +restrict VB I-VP +operations NNS B-NP +to TO B-PP +two CD B-NP +or CC I-NP +three CD I-NP +days NNS I-NP +a DT B-NP +week NN I-NP +. . O + +In IN B-PP +Western JJ B-NP +, , I-NP +market-driven JJ I-NP +countries NNS I-NP +, , O +recessions NNS B-NP +often RB B-ADVP +have VBP B-VP +a DT B-NP +bright JJ I-NP +side NN I-NP +: : O +prodding VBG B-VP +the DT B-NP +economy NN I-NP +to TO B-PP +greater JJR B-NP +efficiency NN I-NP +. . O + +In IN B-PP +China NNP B-NP +, , O +however RB B-ADVP +, , O +there EX B-NP +is VBZ B-VP +n't RB O +likely JJ B-ADJP +to TO B-VP +be VB I-VP +any DT B-NP +silver NN I-NP +lining VBG I-NP +because IN B-SBAR +the DT B-NP +economy NN I-NP +remains VBZ B-VP +guided VBN I-VP +primarily RB B-ADVP +by IN B-PP +the DT B-NP +state NN I-NP +. . O + +Instead RB B-ADVP +, , O +China NNP B-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +shell VB I-VP +out RP B-PRT +ever-greater JJ B-NP +subsidies NNS I-NP +to TO B-PP +its PRP$ B-NP +coddled VBN I-NP +state-run JJ I-NP +enterprises NNS I-NP +, , O +which WDT B-NP +ate VBD B-VP +up IN B-PRT +$ $ B-NP +18 CD I-NP +billion CD I-NP +in IN B-PP +bailouts NNS B-NP +last JJ B-NP +year NN I-NP +. . O + +Nor CC O +are VBP O +any DT B-NP +of IN B-PP +these DT B-NP +inefficient JJ I-NP +monoliths NNS I-NP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +allowed VBN I-VP +to TO I-VP +go VB I-VP +bankrupt JJ B-ADJP +. . O + +Rather RB B-ADVP +, , O +the DT B-NP +brunt NN I-NP +of IN B-PP +the DT B-NP +slowdown NN I-NP +will MD B-VP +be VB I-VP +felt VBN I-VP +in IN B-PP +the DT B-NP +fast-growing JJ I-NP +private JJ I-NP +and CC I-NP +semi-private JJ I-NP +`` `` I-NP +township NN I-NP +'' '' I-NP +enterprises NNS I-NP +, , O +which WDT B-NP +have VBP B-VP +fallen VBN I-VP +into IN B-PP +disfavor NN B-NP +as IN B-SBAR +China NNP B-NP +'s POS B-NP +leaders NNS I-NP +re-emphasize VBP B-VP +an DT B-NP +orthodox JJ I-NP +Marxist JJ I-NP +preference NN I-NP +for IN B-PP +public JJ B-NP +ownership NN I-NP +. . O + +`` `` O +When WRB B-ADVP +the DT B-NP +going VBG I-NP +gets VBZ B-VP +rough JJ B-ADJP +, , O +China NNP B-NP +penalizes VBZ B-VP +the DT B-NP +efficient JJ I-NP +and CC O +rewards VBZ B-VP +the DT B-NP +incompetent JJ I-NP +, , O +'' '' O +says VBZ B-VP +a DT B-NP +Western JJ I-NP +economist NN I-NP +. . O + +Reports NNS B-NP +of IN B-PP +an DT B-NP +economy NN I-NP +near VB B-PP +recession NN B-NP +come VB B-VP +as IN B-SBAR +officials NNS B-NP +prepare VBP B-VP +a DT B-NP +major JJ I-NP +Communist NNP I-NP +Party NNP I-NP +plenum NN I-NP +for IN B-PP +sometime RB B-NP +in IN B-PP +the DT B-NP +next JJ I-NP +few JJ I-NP +weeks NNS I-NP +. . O + +The DT B-NP +meeting NN I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +call VB I-VP +for IN B-PP +heightened VBN B-NP +austerity NN I-NP +for IN B-PP +two CD B-NP +years NNS I-NP +. . O + +But CC O +with IN B-SBAR +industrial JJ B-NP +growth NN I-NP +stagnant JJ B-ADJP +and CC O +inflation NN B-NP +showing VBG B-VP +signs NNS B-NP +of IN B-PP +easing VBG B-NP +, , O +some DT B-NP +voices NNS I-NP +may MD B-VP +call VB I-VP +for IN B-PP +measures NNS B-NP +to TO B-VP +pump VB I-VP +new JJ B-NP +life NN I-NP +into IN B-PP +the DT B-NP +economy NN I-NP +. . O + +Some DT B-NP +analysts NNS I-NP +believe VBP B-VP +China NNP B-NP +soon RB B-ADVP +will MD B-VP +begin VB I-VP +relaxing VBG I-VP +economic JJ B-NP +controls NNS I-NP +, , O +particularly RB B-ADVP +by IN B-PP +loosening VBG B-VP +credit NN B-NP +. . O + +That DT B-NP +would MD B-VP +benefit VB I-VP +Chinese JJ B-NP +enterprises NNS I-NP +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +Sino-foreign JJ B-NP +joint JJ I-NP +ventures NNS I-NP +, , O +both DT B-NP +of IN B-PP +which WDT B-NP +have VBP B-VP +been VBN I-VP +plagued VBN I-VP +by IN B-PP +shortages NNS B-NP +of IN B-PP +working VBG B-NP +capital NN I-NP +. . O + +A DT B-NP +dangerous JJ I-NP +buildup NN I-NP +this DT B-NP +year NN I-NP +of IN B-PP +billions NNS B-NP +of IN B-PP +dollars NNS B-NP +in IN B-PP +inter-company JJ B-NP +debts NNS I-NP +threatens VBZ B-VP +, , O +if IN B-SBAR +unchecked JJ B-ADJP +, , O +to TO B-VP +bring VB I-VP +the DT B-NP +economy NN I-NP +to TO B-PP +a DT B-NP +collapse NN I-NP +. . O + +One CD B-NP +sign NN I-NP +of IN B-PP +a DT B-NP +possible JJ I-NP +easing NN I-NP +of IN B-PP +credit NN B-NP +policy NN I-NP +was VBD B-VP +the DT B-NP +decision NN I-NP +this DT B-NP +week NN I-NP +of IN B-PP +People NNS B-NP +'s POS B-NP +Bank NNP I-NP +of IN B-PP +China NNP B-NP +, , O +the DT B-NP +central JJ I-NP +bank NN I-NP +, , O +to TO B-VP +allocate VB I-VP +$ $ B-NP +5.4 CD I-NP +billion CD I-NP +in IN B-PP +short-term JJ B-NP +loans NNS I-NP +to TO B-VP +pay VB I-VP +farmers NNS B-NP +for IN B-PP +the DT B-NP +autumn NN I-NP +harvest NN I-NP +, , O +the DT B-NP +official NN I-NP +China NNP I-NP +Daily NNP I-NP +reported VBD B-VP +. . O + +But CC O +while IN B-SBAR +pumping VBG B-VP +more JJR B-NP +money NN I-NP +into IN B-PP +the DT B-NP +economy NN I-NP +would MD B-VP +bring VB I-VP +relief NN B-NP +to TO B-PP +many VB B-NP +industries NNS I-NP +, , O +it PRP B-NP +also RB B-ADVP +runs VBZ B-VP +the DT B-NP +risk NN I-NP +of IN B-PP +triggering VBG B-VP +another DT B-NP +period NN I-NP +of IN B-PP +runaway JJ B-NP +growth NN I-NP +and CC O +steep JJ B-NP +inflation NN I-NP +. . O + +The DT B-NP +cycle NN I-NP +has VBZ B-VP +been VBN I-VP +repeated VBN I-VP +several JJ B-NP +times NNS I-NP +since IN B-SBAR +China NNP B-NP +began VBD B-VP +reforming VBG I-VP +its PRP$ B-NP +planned VBN I-NP +economy NN I-NP +in IN B-PP +1979 CD B-NP +. . O + +And CC O +, , O +because IN B-SBAR +China NNP B-NP +'s POS B-NP +leaders NNS I-NP +have VBP B-VP +abandoned VBN I-VP +plans NNS B-NP +to TO B-VP +drastically RB I-VP +reform NN I-VP +the DT B-NP +economy NN I-NP +, , O +it PRP B-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +continue VB I-VP +, , O +analysts NNS B-NP +say VBP B-VP +. . O + +The DT B-NP +statistical JJ I-NP +bureau NN I-NP +'s POS B-NP +report NN I-NP +, , O +cited VBD B-VP +in IN B-PP +China NNP B-NP +Daily NNP I-NP +, , O +notes VBZ B-VP +that IN B-SBAR +industrial JJ B-NP +output NN I-NP +in IN B-PP +September NNP B-NP +totaled VBD B-NP +$ $ B-NP +29.4 CD I-NP +billion CD I-NP +, , O +a DT B-NP +rise NN I-NP +of IN B-PP +just RB B-NP +0.9 CD I-NP +% NN I-NP +from IN B-PP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Output NN B-NP +declined VBD B-VP +in IN B-PP +several JJ B-NP +provinces NNS I-NP +, , O +including VBG B-PP +Jiangsu NNP B-NP +and CC I-NP +Zhejiang NNP I-NP +, , O +two CD B-NP +key JJ I-NP +coastal JJ I-NP +areas NNS I-NP +, , O +and CC O +Sichuan NNP B-NP +, , O +the DT B-NP +nation NN I-NP +'s POS B-NP +agricultural JJ I-NP +breadbasket NN I-NP +. . O + +Production NN B-NP +in IN B-PP +Shanghai NNP B-NP +, , O +China NNP B-NP +'s POS B-NP +industrial JJ I-NP +powerhouse NN I-NP +and CC O +the DT B-NP +largest JJS I-NP +source NN I-NP +of IN B-PP +tax NN B-NP +revenue NN I-NP +for IN B-PP +the DT B-NP +central JJ I-NP +government NN I-NP +, , O +fell VBD B-VP +1.8 CD B-NP +% NN I-NP +for IN B-PP +the DT B-NP +month NN I-NP +. . O + +Nationwide NNP B-ADVP +, , O +output NN B-NP +of IN B-PP +light NN B-NP +industrial JJ I-NP +products NNS I-NP +declined VBD B-VP +1.8 CD B-NP +% NN I-NP +-- : O +`` `` O +the DT B-NP +first JJ I-NP +decline NN I-NP +in IN B-PP +10 CD B-NP +years NNS I-NP +, , O +'' '' O +a DT B-NP +bureau NN I-NP +spokesman NN I-NP +told VBD B-VP +China NNP B-NP +Daily NNP I-NP +. . O + +In IN B-PP +an DT B-NP +unusually RB I-NP +direct JJ I-NP +statement NN I-NP +, , O +the DT B-NP +bureau NN I-NP +spokesman NN I-NP +recommended VBD B-VP +that IN B-SBAR +state NN B-NP +banks NNS I-NP +extend VBP B-VP +more JJR B-NP +credit NN I-NP +to TO B-PP +shopkeepers NNS B-NP +so RB B-SBAR +that IN I-SBAR +they PRP B-NP +can MD B-VP +purchase VB I-VP +manufacturers NNS B-NP +' POS B-NP +goods NNS I-NP +. . O + +`` `` O +This DT B-NP +will MD B-VP +prevent VB I-VP +a DT B-NP +slide NN I-NP +in IN B-PP +industrial JJ B-NP +production NN I-NP +, , O +which WDT B-NP +will MD B-VP +otherwise RB I-VP +cause VB I-VP +new JJ B-NP +panic NN I-NP +buyings NNS I-NP +, , O +'' '' O +the DT B-NP +spokesman NN I-NP +said VBD B-VP +. . O + +The DT B-NP +1986 CD I-NP +tax NN I-NP +overhaul NN I-NP +, , O +the DT B-NP +biggest JJS I-NP +achievement NN I-NP +of IN B-PP +President NNP B-NP +Reagan NNP I-NP +'s POS B-NP +second JJ I-NP +term NN I-NP +, , O +is VBZ B-VP +beginning VBG I-VP +to TO I-VP +fall VB I-VP +apart RB B-PRT +, , O +and CC O +interest NN B-NP +groups NNS I-NP +are VBP B-VP +lining VBG I-VP +up IN B-PRT +for IN B-PP +tax NN B-NP +goodies NNS I-NP +all DT B-PP +over IN I-PP +Capitol NNP B-NP +Hill NNP I-NP +. . O + +Real-estate NN B-NP +executives NNS I-NP +are VBP B-VP +lobbying VBG I-VP +to TO I-VP +ease VB I-VP +anti-tax-shelter JJ B-NP +rules NNS I-NP +. . O + +Charitable JJ B-NP +groups NNS I-NP +are VBP B-VP +trying VBG I-VP +to TO I-VP +reinstate VB I-VP +the DT B-NP +write-off NN I-NP +for IN B-PP +contributions NNS B-NP +made VBN B-VP +by IN B-PP +individuals NNS B-NP +who WP B-NP +do VBP B-VP +n't RB I-VP +itemize VB I-VP +their PRP$ B-NP +deductions NNS I-NP +. . O + +Big JJ B-NP +auction NN I-NP +houses NNS I-NP +want VBP B-VP +to TO I-VP +make VB I-VP +collectibles NNS B-NP +eligible JJ B-ADJP +for IN B-PP +lower JJR B-NP +capital-gains NNS I-NP +taxes NNS I-NP +. . O + +And CC O +heavy-industry NN B-NP +lobbyists NNS I-NP +are VBP B-VP +quietly RB I-VP +discussing VBG I-VP +the DT B-NP +possibility NN I-NP +of IN B-PP +reinstating VBG B-VP +the DT B-NP +investment NN I-NP +tax NN I-NP +credit NN I-NP +. . O + +`` `` O +Everything NN B-NP +is VBZ B-VP +up IN B-PP +for IN B-PP +grabs NNS B-NP +, , O +'' '' O +says VBZ B-VP +Theodore NNP B-NP +Groom NNP I-NP +, , O +a DT B-NP +lobbyist NN I-NP +for IN B-PP +mutual JJ B-NP +life-insurance NN I-NP +companies NNS I-NP +. . O + +Adds VBZ B-VP +Robert NNP B-NP +Juliano NNP I-NP +, , O +the DT B-NP +head NN I-NP +lobbyist NN I-NP +for IN B-PP +a DT B-NP +variety NN I-NP +of IN B-PP +interests NNS B-NP +that WDT B-NP +want VBP B-VP +to TO I-VP +protect VB I-VP +the DT B-NP +tax NN I-NP +deduction NN I-NP +for IN B-PP +travel NN B-NP +and CC I-NP +entertainment NN I-NP +expenses NNS I-NP +: : O +`` `` O +It PRP B-NP +appears VBZ B-VP +as IN B-SBAR +though IN I-SBAR +the DT B-NP +whole JJ I-NP +thing NN I-NP +is VBZ B-VP +wide JJ B-ADJP +open JJ I-ADJP +again RB B-ADVP +. . O +'' '' O + +The DT B-NP +catalyst NN I-NP +has VBZ B-VP +been VBN I-VP +the DT B-NP +congressional JJ I-NP +move NN I-NP +to TO B-VP +restore VB I-VP +preferential JJ B-NP +tax NN I-NP +treatment NN I-NP +for IN B-PP +capital NN B-NP +gains NNS I-NP +, , O +an DT B-NP +effort NN I-NP +that WDT B-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +succeed VB I-VP +in IN B-PP +this DT B-NP +Congress NNP I-NP +. . O + +Other JJ B-NP +fundamental JJ I-NP +`` `` I-NP +reforms NNS I-NP +'' '' O +of IN B-PP +the DT B-NP +1986 CD I-NP +act NN I-NP +have VBP B-VP +been VBN I-VP +threatened VBN I-VP +as IN B-ADVP +well RB I-ADVP +. . O + +The DT B-NP +House NNP I-NP +seriously RB B-ADVP +considered VBD B-VP +raising VBG I-VP +the DT B-NP +top JJ I-NP +tax NN I-NP +rate NN I-NP +paid VBN B-VP +by IN B-PP +individuals NNS B-NP +with IN B-PP +the DT B-NP +highest JJS I-NP +incomes NNS I-NP +. . O + +The DT B-NP +Senate NNP I-NP +Finance NNP I-NP +Committee NNP I-NP +voted VBD B-VP +to TO I-VP +expand VB I-VP +the DT B-NP +deduction NN I-NP +for IN B-PP +individual JJ B-NP +retirement NN I-NP +accounts NNS I-NP +, , O +and CC O +also RB B-ADVP +to TO B-VP +bring VB I-VP +back JJ B-ADVP +income NN B-NP +averaging VBG I-NP +for IN B-PP +farmers NNS B-NP +, , O +a DT B-NP +tax NN I-NP +preference NN I-NP +that WDT B-NP +allows VBZ B-VP +income NN B-NP +to TO B-VP +be VB I-VP +spread VBN I-VP +out IN B-PRT +over IN B-PP +several JJ B-NP +years NNS I-NP +. . O + +As IN B-PP +part NN B-NP +of IN B-PP +the DT B-NP +same JJ I-NP +bill NN I-NP +, , O +the DT B-NP +finance NN I-NP +panel NN I-NP +also RB B-ADVP +voted VBD B-VP +in IN B-PP +favor NN B-NP +of IN B-PP +billions NNS B-NP +of IN B-PP +dollars NNS B-NP +in IN B-PP +narrow JJ B-NP +tax NN I-NP +breaks NNS I-NP +for IN B-PP +individuals NNS B-NP +and CC I-NP +corporations NNS I-NP +, , O +in IN B-PP +what WP B-NP +committee NN B-NP +member NN I-NP +Sen. NNP I-NP +David NNP I-NP +Pryor NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Ark NNP B-NP +. . O +-RRB- ) O +calls VBZ B-VP +a DT B-NP +`` `` I-NP +feeding VBG I-NP +frenzy NN I-NP +'' '' O +of IN B-PP +special-interest JJ B-NP +legislating NN I-NP +. . O + +The DT B-NP +beneficiaries NNS I-NP +would MD B-VP +range VB I-VP +from IN B-PP +pineapple NN B-NP +growers NNS I-NP +to TO B-PP +rich JJ B-NP +grandparents NNS I-NP +to TO B-PP +tuxedo-rental JJ B-NP +shops NNS I-NP +. . O + +To TO B-VP +be VB I-VP +sure JJ B-ADJP +, , O +the DT B-NP +full JJ I-NP +Senate NNP I-NP +, , O +facing VBG B-VP +a DT B-NP +fast-approaching JJ I-NP +budget NN I-NP +deadline NN I-NP +, , O +last JJ B-NP +Friday NNP I-NP +stripped VBD B-VP +away RB B-ADVP +all DT B-NP +of IN B-PP +the DT B-NP +tax NN I-NP +breaks NNS I-NP +that WDT B-NP +were VBD B-VP +contained VBN I-VP +in IN B-PP +the DT B-NP +Finance NNP I-NP +Committee NNP I-NP +bill NN I-NP +. . O + +But CC O +lawmakers NNS B-NP +of IN B-PP +both DT B-NP +parties NNS I-NP +agree VBP B-VP +that IN B-SBAR +the DT B-NP +streamlining VBG I-NP +was VBD B-VP +temporary JJ B-ADJP +. . O + +Other JJ B-NP +bills NNS I-NP +will MD B-VP +be VB I-VP +moving VBG I-VP +soon RB B-ADVP +that WDT B-NP +are VBP B-VP +expected VBN I-VP +to TO I-VP +carry VB I-VP +many NN B-NP +of IN B-PP +the DT B-NP +tax NN I-NP +cuts NNS I-NP +, , O +including VBG B-PP +both DT B-NP +the DT I-NP +capital-gains NNS I-NP +and CC I-NP +IRA NNP I-NP +provisions NNS I-NP +. . O + +`` `` O +There EX B-NP +is VBZ B-VP +n't RB O +any DT B-NP +doubt NN I-NP +that IN B-SBAR +the DT B-NP +thread NN I-NP +of IN B-PP +the DT B-NP +'86 CD I-NP +code NN I-NP +has VBZ B-VP +been VBN I-VP +given VBN I-VP +a DT B-NP +mighty JJ I-NP +tug NN I-NP +, , O +'' '' O +says VBZ B-VP +Rep. NNP B-NP +Thomas NNP I-NP +Downey NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +N.Y NNP B-NP +. . O +-RRB- ) O +. . O + +`` `` O +You PRP B-NP +'ll MD B-VP +see VB I-VP +the DT B-NP +annual JJ I-NP +unraveling NN I-NP +of IN B-PP +it PRP B-NP +. . O +'' '' O + +`` `` O +It PRP B-NP +'s VBZ B-VP +back RB B-ADVP +to TO B-PP +tax-give-away JJ B-NP +time NN I-NP +for IN B-PP +the DT B-NP +select JJ I-NP +few NN I-NP +, , O +'' '' O +says VBZ B-VP +Rep. NNP B-NP +William NNP I-NP +Gray NNP I-NP +of IN B-PP +Pennsylvania NNP B-NP +, , O +the DT B-NP +third-ranking JJ I-NP +Democrat NNP I-NP +in IN B-PP +the DT B-NP +House NNP I-NP +. . O + +Referring VBG B-VP +to TO B-PP +the DT B-NP +chairmen NNS I-NP +of IN B-PP +the DT B-NP +Senate NNP I-NP +and CC I-NP +House NNP I-NP +tax-writing JJ I-NP +committees NNS I-NP +, , O +he PRP B-NP +adds VBZ B-VP +, , O +`` `` O +Next JJ B-NP +year NN I-NP +, , O +every DT B-NP +special-interest JJ I-NP +group NN I-NP +is VBZ B-VP +going VBG I-VP +to TO I-VP +be VB I-VP +there RB B-ADVP +knocking VBG B-VP +on IN B-PP +Lloyd NNP B-NP +Bentsen NNP I-NP +'s POS B-NP +door NN I-NP +, , O +on IN B-PP +Danny NNP B-NP +Rostenkowski NNP I-NP +'s POS B-NP +door NN I-NP +. . O +'' '' O + +Many JJ B-NP +groups NNS I-NP +are VBP B-VP +n't RB I-VP +waiting VBG I-VP +that DT B-NP +long JJ I-NP +. . O + +Just RB B-NP +last JJ I-NP +week NN I-NP +, , O +a DT B-NP +House NNP I-NP +Ways NNPS I-NP +and CC I-NP +Means NNP I-NP +subcommittee NN I-NP +held VBD B-VP +a DT B-NP +lengthy JJ I-NP +meeting NN I-NP +to TO B-VP +hear VB I-VP +the DT B-NP +pleas NNS I-NP +of IN B-PP +individual JJ B-NP +cities NNS I-NP +, , I-NP +companies NNS I-NP +and CC I-NP +interest NN I-NP +groups NNS I-NP +who WP B-NP +want VBP B-VP +to TO I-VP +open VB I-VP +their PRP$ B-NP +own JJ I-NP +special JJ I-NP +loopholes NNS I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +a DT B-NP +Swiss-cheese NN I-NP +factory NN I-NP +and CC O +the DT B-NP +cheese NN I-NP +smells VBZ B-VP +pretty RB B-ADJP +good JJ I-ADJP +, , O +'' '' O +commented VBD B-VP +one CD B-NP +veteran NN I-NP +lobbyist NN I-NP +who WP B-NP +was VBD B-VP +watching VBG I-VP +the DT B-NP +proceedings NNS I-NP +. . O + +Even JJ B-NP +lobbyists NNS I-NP +for IN B-PP +heavy JJ B-NP +industry NN I-NP +, , O +one CD B-NP +of IN B-PP +the DT B-NP +interests NNS I-NP +hit VBD B-VP +hardest JJS B-ADVP +in IN B-PP +the DT B-NP +1986 CD I-NP +bill NN I-NP +, , O +are VBP B-VP +encouraged VBN I-VP +. . O + +The DT B-NP +return NN I-NP +of IN B-PP +pro-investment JJ B-NP +tax NN I-NP +breaks NNS I-NP +such JJ B-PP +as IN I-PP +those DT B-NP +for JJ B-PP +capital NN B-NP +gains NNS I-NP +and CC O +IRAs NNS B-NP +`` `` O +creates VBZ B-VP +more JJR B-NP +of IN B-PP +a DT B-NP +mood NN I-NP +or CC O +a DT B-NP +mindset NN I-NP +that WDT B-NP +is VBZ B-VP +helpful JJ B-ADJP +for IN B-PP +getting VBG B-VP +better JJR B-NP +depreciation NN I-NP +-LRB- ( O +write-offs NNS B-NP +-RRB- ) O +or CC O +investment NN B-NP +credits NNS I-NP +, , O +'' '' O +says VBZ B-VP +Paul NNP B-NP +Huard NNP I-NP +, , O +a DT B-NP +vice NN I-NP +president NN I-NP +for IN B-PP +the DT B-NP +National NNP I-NP +Association NNP I-NP +of IN B-PP +Manufacturers NNPS B-NP +. . O + +Corporate JJ B-NP +lobbyist NN I-NP +Charls NNP I-NP +Walker NNP I-NP +is VBZ B-VP +planning VBG I-VP +a DT B-NP +spring NN I-NP +conference NN I-NP +to TO B-VP +discuss VB I-VP +what WP B-NP +tax NN I-NP +changes NNS I-NP +to TO B-VP +make VB I-VP +to TO B-VP +improve VB I-VP +`` `` O +competitiveness NN B-NP +. . O +'' '' O + +In IN B-PP +reaction NN B-NP +to TO B-PP +proposed VBN B-NP +capital-gains NNS I-NP +legislation NN I-NP +, , O +groups NNS B-NP +are VBP B-VP +lobbying VBG I-VP +to TO I-VP +make VB I-VP +sure JJ B-ADJP +they PRP B-NP +are VBP B-VP +n't RB I-VP +left VBN I-VP +off IN B-PP +the DT B-NP +gravy NN I-NP +train NN I-NP +. . O + +Real-estate NN B-NP +interests NNS I-NP +, , O +for IN B-PP +example NN B-NP +, , O +are VBP B-VP +protesting VBG I-VP +an DT B-NP +omission NN I-NP +in IN B-PP +President NNP B-NP +Bush NNP I-NP +'s POS B-NP +capital-gains NNS I-NP +proposal NN I-NP +: : O +It PRP B-NP +does VBZ B-VP +n't RB I-VP +include VB I-VP +real-estate NN B-NP +gains NNS I-NP +. . O + +`` `` O +If IN B-SBAR +there EX B-NP +is VBZ B-VP +going VBG I-VP +to TO I-VP +be VB I-VP +a DT B-NP +tax NN I-NP +scheme NN I-NP +that WDT B-NP +contemplates VBZ B-VP +lower JJR B-NP +treatment NN I-NP +of IN B-PP +capital NN B-NP +gains NNS I-NP +, , O +they PRP B-NP +certainly RB B-ADVP +want VBP B-VP +to TO I-VP +be VB I-VP +part NN B-NP +of IN B-PP +it PRP B-NP +, , O +'' '' O +says VBZ B-VP +real-estate NN B-NP +lobbyist NN I-NP +Wayne NNP I-NP +Thevenot NNP I-NP +of IN B-PP +Concord NNP B-NP +Associates NNPS I-NP +. . O + +In IN B-PP +the DT B-NP +House-passed JJ I-NP +tax NN I-NP +bill NN I-NP +, , O +Mr. NNP B-NP +Thevenot NNP I-NP +got VBD B-VP +his PRP$ B-NP +wish VBP I-NP +; : O +real-estate NN B-NP +assets NNS I-NP +are VBP B-VP +included VBN I-VP +in IN B-PP +the DT B-NP +capital-gains NNS I-NP +provision NN I-NP +. . O + +But CC O +Sotheby NNP B-NP +'s POS B-NP +, , O +Christie NNP B-NP +'s POS B-NP +and CC O +the DT B-NP +National NNP I-NP +Association NNP I-NP +of IN B-PP +Antique NNP B-NP +Dealers NNS I-NP +are VBP B-VP +still RB I-VP +trying VBG I-VP +to TO I-VP +get VB I-VP +theirs PRP B-NP +. . O + +They PRP B-NP +have VBP B-VP +sent VBN I-VP +a DT B-NP +letter NN I-NP +to TO B-PP +congressional JJ B-NP +tax-writers NNS I-NP +asking VBG B-VP +that IN B-SBAR +gains NNS B-NP +from IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +collectibles NNS B-NP +also RB B-ADVP +be VBP B-VP +given VBN I-VP +preferential JJ B-NP +treatment NN I-NP +. . O + +`` `` O +Collectibles NNS B-NP +should MD B-VP +continue VB I-VP +to TO I-VP +be VB I-VP +recognized VBN I-VP +as IN B-PP +capital NN B-NP +assets NNS I-NP +, , O +'' '' O +the DT B-NP +letter NN I-NP +states NNS B-VP +. . O + +All DT B-NP +of IN B-PP +this DT B-NP +talk NN I-NP +is VBZ B-VP +antithetical JJ B-ADJP +to TO B-PP +the DT B-NP +Tax NNP I-NP +Reform NNP I-NP +Act NNP I-NP +of IN B-PP +1986 CD B-NP +. . O + +In IN B-PP +exchange NN B-NP +for IN B-PP +dramatically RB B-NP +lower JJR I-NP +tax NN I-NP +rates NNS I-NP +, , O +the DT B-NP +framers NNS I-NP +of IN B-PP +that DT B-NP +legislation NN I-NP +sought VBD B-VP +to TO I-VP +eliminate VB I-VP +most RBS B-NP +of IN B-PP +the DT B-NP +exemptions NNS I-NP +, , I-NP +deductions NNS I-NP +and CC I-NP +credits NNS I-NP +that WDT B-NP +gave VBD B-VP +some DT B-NP +taxpayers NNS I-NP +an DT B-NP +advantage NN I-NP +over IN B-PP +others NNS B-NP +. . O + +The DT B-NP +goal NN I-NP +was VBD B-VP +to TO B-VP +tax VB I-VP +people NNS B-NP +with IN B-PP +roughly RB B-NP +equivalent NN I-NP +incomes NNS I-NP +equally RB B-ADVP +, , O +and CC O +to TO B-VP +eliminate VB I-VP +the DT B-NP +many JJ I-NP +shelters NNS I-NP +that WDT B-NP +allowed VBD B-VP +the DT B-NP +wealthy JJ I-NP +to TO B-VP +escape VB I-VP +taxes NNS B-NP +. . O + +Two CD B-NP +of IN B-PP +the DT B-NP +major JJ I-NP +ways NNS I-NP +that IN B-ADVP +tax-writers NNS B-NP +managed VBD B-VP +to TO I-VP +attain VB I-VP +these DT B-NP +ends NNS I-NP +were VBD B-VP +to TO B-VP +scrap VB I-VP +the DT B-NP +preferential JJ I-NP +treatment NN I-NP +of IN B-PP +capital NN B-NP +gains NNS I-NP +and CC O +to TO B-VP +curtail VB I-VP +the DT B-NP +use NN I-NP +of IN B-PP +paper NN B-NP +losses NNS I-NP +, , O +also RB B-VP +known VBN I-VP +as IN B-PP +passive JJ B-NP +losses NNS I-NP +, , O +that WDT B-NP +made VBD B-VP +many JJ B-NP +tax NN I-NP +shelters NNS I-NP +possible JJ B-ADJP +. . O + +Many JJ B-NP +other JJ I-NP +tax NN I-NP +benefits NNS I-NP +also RB B-ADVP +were VBD B-VP +swept VBN I-VP +away RB B-ADVP +. . O + +This DT B-NP +year NN I-NP +Congress NNP B-NP +, , O +with IN B-PP +prodding VBG B-NP +from IN B-PP +President NNP B-NP +Bush NNP I-NP +, , O +has VBZ B-VP +been VBN I-VP +busy JJ B-ADJP +trying NN B-VP +to TO I-VP +put VB I-VP +many NN B-NP +of IN B-PP +these DT B-NP +same JJ I-NP +tax NN I-NP +preferences NNS I-NP +back RB B-ADVP +into IN B-PP +the DT B-NP +code NN I-NP +. . O + +It PRP B-NP +appears VBZ B-VP +likely JJ B-ADJP +that IN B-SBAR +, , O +this DT B-NP +year NN I-NP +or CC O +next JJ B-NP +, , O +some DT B-NP +form NN I-NP +of IN B-PP +capital-gains NNS B-NP +preference NN I-NP +and CC O +passive-loss JJ B-NP +restoration NN I-NP +will MD B-VP +be VB I-VP +enacted VBN I-VP +. . O + +Other JJ B-NP +tax NN I-NP +benefits NNS I-NP +probably RB B-ADVP +will MD B-VP +be VB I-VP +restored VBN I-VP +and CC I-VP +created VBN I-VP +. . O + +The DT B-NP +main JJ I-NP +obstacle NN I-NP +is VBZ B-VP +finding VBG I-VP +a DT B-NP +way NN I-NP +to TO B-VP +pay VB I-VP +for IN B-PP +them PRP B-NP +. . O + +`` `` O +The DT B-NP +'86 CD I-NP +act NN I-NP +was VBD B-VP +a DT B-NP +fluke NN I-NP +. . O + +They PRP B-NP +wanted VBD B-VP +reform NN B-NP +and CC O +they PRP B-NP +got VBD B-VP +a DT B-NP +revolution NN I-NP +, , O +'' '' O +says VBZ B-VP +overhaul NN B-NP +advocate NN I-NP +Rep. NNP I-NP +Willis NNP I-NP +Gradison NNP I-NP +-LRB- ( O +R. NNP B-NP +, , O +Ohio NNP B-NP +-RRB- ) O +. . O + +So RB B-ADVP +, , O +is VBZ O +the DT B-NP +tax NN I-NP +code NN I-NP +now RB B-ADVP +open JJ B-NP +game NN I-NP +again RB B-ADVP +? . O + +Mr. NNP B-NP +Juliano NNP I-NP +thinks VBZ B-VP +so RB B-ADVP +. . O + +One CD B-NP +recent JJ I-NP +Saturday NNP I-NP +morning NN I-NP +he PRP B-NP +stayed VBD B-VP +inside IN B-PP +the DT B-NP +Capitol NNP I-NP +monitoring VBG B-VP +tax-and-budget JJ B-NP +talks NNS I-NP +instead RB B-CONJP +of IN I-CONJP +flying VBG B-VP +to TO B-PP +San NNP B-NP +Francisco NNP I-NP +for IN B-PP +a DT B-NP +fund-raiser NN I-NP +and CC O +then RB B-ADVP +to TO B-PP +his PRP$ B-NP +hometown NN I-NP +of IN B-PP +Chicago NNP B-NP +for IN B-PP +the DT B-NP +30th JJ I-NP +reunion NN I-NP +of IN B-PP +St. NNP B-NP +Ignatius NNP I-NP +High NNP I-NP +School NNP I-NP +. . O + +`` `` O +I PRP B-NP +'m VBP B-VP +too RB B-ADJP +old JJ I-ADJP +to TO B-VP +waste VB I-VP +a DT B-NP +weekend NN I-NP +, , O +but CC O +that DT B-NP +'s VBZ B-VP +what WP B-NP +I PRP B-NP +did VBD B-VP +, , O +'' '' O +the DT B-NP +48-year-old NNP I-NP +Mr. NNP I-NP +Juliano NNP I-NP +moans VBZ B-VP +. . O + +`` `` O +These DT B-NP +days NNS I-NP +, , O +anything NN B-NP +can MD B-VP +happen VB I-VP +. . O + +Lufthansa NNP B-NP +AG NNP I-NP +said VBD B-VP +passenger NN B-NP +volume NN I-NP +climbed VBD B-VP +5.2 CD B-NP +% NN I-NP +for IN B-PP +the DT B-NP +first JJ I-NP +nine CD I-NP +months NNS I-NP +of IN B-PP +1989 CD B-NP +to TO B-PP +15.3 CD B-NP +million CD I-NP +passengers NNS I-NP +from IN B-PP +14.5 CD B-NP +million CD I-NP +passengers NNS I-NP +in IN B-PP +the DT B-NP +year-earlier JJ I-NP +period NN I-NP +. . O + +The DT B-NP +West JJ I-NP +German JJ I-NP +national JJ I-NP +air NN I-NP +carrier NN I-NP +said VBD B-VP +cargo NN B-NP +volume NN I-NP +jumped VBD B-VP +12 CD B-NP +% NN I-NP +to TO B-PP +638,000 CD B-NP +metric JJ I-NP +tons NNS I-NP +from IN B-PP +569,000 CD B-NP +tons NNS I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Load NN B-NP +factor NN I-NP +, , O +or CC O +percentage NN B-NP +of IN B-PP +seats NNS B-NP +filled VBN B-VP +, , O +climbed VBD B-VP +to TO B-PP +67.1 CD B-NP +% NN I-NP +from IN B-PP +66.6 CD B-NP +% NN I-NP +, , O +even RB B-SBAR +though IN I-SBAR +the DT B-NP +number NN I-NP +of IN B-PP +flights NNS B-NP +rose VBD B-VP +6.9 CD B-NP +% NN I-NP +to TO B-PP +215,845 CD B-NP +in IN B-PP +the DT B-NP +first-three JJ I-NP +quarters NNS I-NP +. . O + +From IN B-PP +January NNP B-NP +through IN B-PP +September NNP B-NP +, , O +the DT B-NP +distance NN I-NP +flown VBN B-VP +by IN B-PP +Lufthansa NNP B-NP +airplanes NNS I-NP +rose VBD B-VP +5.6 CD B-NP +% NN I-NP +to TO B-PP +266.2 CD B-NP +million CD I-NP +kilometers NNS I-NP +from IN B-PP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +, , O +the DT B-NP +company NN I-NP +added VBD B-VP +. . O + +Raymond NNP B-NP +Chandler NNP I-NP +, , O +in IN B-PP +a DT B-NP +1950 CD I-NP +letter NN I-NP +defending VBG B-VP +a DT B-NP +weak JJ I-NP +Hemingway NNP I-NP +book NN I-NP +, , O +likened VBD B-VP +a DT B-NP +champion NN I-NP +writer NN I-NP +to TO B-PP +a DT B-NP +baseball NN I-NP +pitcher NN I-NP +. . O + +When WRB B-ADVP +the DT B-NP +champ NN I-NP +has VBZ B-VP +lost VBN I-VP +his PRP$ B-NP +stuff NN I-NP +, , O +the DT B-NP +great JJ I-NP +mystery NN I-NP +novelist NN I-NP +wrote VBD B-VP +, , O +`` `` O +when WRB B-ADVP +he PRP B-NP +can MD B-VP +no RB I-VP +longer RB I-VP +throw VB I-VP +the DT B-NP +high JJ I-NP +hard JJ I-NP +one CD I-NP +, , O +he PRP B-NP +throws VBZ B-VP +his PRP$ B-NP +heart NN I-NP +instead RB B-ADVP +. . O + +He PRP B-NP +throws VBZ B-VP +something NN B-NP +. . O + +He PRP B-NP +does VBZ B-VP +n't RB I-VP +just RB I-VP +walk VB I-VP +off IN B-PP +the DT B-NP +mound NN I-NP +and CC O +weep VB B-VP +. . O +'' '' O + +Chandler NNP B-NP +might MD B-VP +have VB I-VP +been VBN I-VP +predicting VBG I-VP +the DT B-NP +course NN I-NP +of IN B-PP +his PRP$ B-NP +own JJ I-NP +career NN I-NP +. . O + +His PRP$ B-NP +last RB I-NP +published VBN I-NP +novel NN I-NP +featuring VBG B-VP +private JJ B-NP +detective NN I-NP +Philip NNP I-NP +Marlowe NNP I-NP +, , O +the DT B-NP +inferior JJ I-NP +`` `` I-NP +Playback NNP I-NP +'' '' O +-LRB- ( O +1958 CD B-NP +-RRB- ) O +, , O +at IN B-PP +times NNS B-NP +read VBP B-VP +almost RB B-ADVP +like IN B-PP +a DT B-NP +parody NN I-NP +of IN B-PP +his PRP$ B-NP +previous JJ I-NP +work NN I-NP +. . O + +When WRB B-ADVP +he PRP B-NP +died VBD B-VP +in IN B-PP +1959 CD B-NP +, , O +Chandler NNP B-NP +left VBD B-VP +behind IN B-PRT +four CD B-NP +chapters NNS I-NP +of IN B-PP +yet RB B-NP +another DT I-NP +Marlowe NNP I-NP +book NN I-NP +, , O +`` `` O +The DT B-NP +Poodle NNP I-NP +Springs NNP I-NP +Story NNP I-NP +, , O +'' '' O +which WDT B-NP +seemed VBD B-VP +to TO I-VP +go VB I-VP +beyond IN B-PP +parody NN B-NP +into IN B-PP +something NN B-NP +like IN B-PP +burlesque JJ B-NP +. . O + +`` `` O +Champ NNP B-NP +'' '' O +Chandler NNP B-NP +'s POS B-NP +last JJ I-NP +pitch NN I-NP +, , O +apparently RB B-ADVP +, , O +was VBD B-VP +a DT B-NP +screwball NN I-NP +. . O + +Now RB B-ADVP +Robert NNP B-NP +Parker NNP I-NP +, , O +author NN B-NP +of IN B-PP +several JJ B-NP +best JJS I-NP +sellers NNS I-NP +featuring VBG B-VP +Spenser NNP B-NP +, , O +a DT B-NP +contemporary JJ I-NP +private JJ I-NP +eye NN I-NP +in IN B-PP +the DT B-NP +Marlowe NNP I-NP +mold NN I-NP +, , O +has VBZ B-VP +with IN B-PP +the DT B-NP +blessings NNS I-NP +of IN B-PP +the DT B-NP +Chandler NNP I-NP +estate NN I-NP +been VBN B-VP +hired VBN I-VP +to TO I-VP +complete VB I-VP +`` `` O +The DT B-NP +Poodle NNP I-NP +Springs NNP I-NP +Story NNP I-NP +. . O +'' '' O + +The DT B-NP +result NN I-NP +, , O +`` `` O +Poodle NNP B-NP +Springs NNP I-NP +'' '' O +-LRB- ( O +Putnam NNP B-NP +'s POS B-NP +, , O +288 CD B-NP +pages NNS I-NP +, , O +$ $ B-NP +18.95 CD I-NP +-RRB- ) O +is VBZ B-VP +an DT O +entertaining NN O +, , O +easy JJ O +to TO B-VP +read VB I-VP +and CC B-NP +fairly RB I-NP +graceful JJ I-NP +extension NN I-NP +of IN B-PP +the DT B-NP +Marlowe NNP I-NP +chronicle NN I-NP +, , O +full JJ B-ADJP +of IN B-PP +hard-boiled JJ B-NP +wisecracks NNS I-NP +and CC O +California NNP B-NP +color NN I-NP +. . O + +If IN B-SBAR +it PRP B-NP +does VBZ B-VP +not RB I-VP +quite RB I-VP +have VB I-VP +Chandler NNP B-NP +'s POS B-NP +special JJ I-NP +magic NN I-NP +-- : O +well RB B-INTJ +, , O +at IN B-PP +the DT B-NP +end NN I-NP +, , O +neither DT O +did VBD O +Chandler NNP B-NP +. . O + +As IN B-SBAR +the DT B-NP +book NN I-NP +begins VBZ B-VP +, , O +a DT B-NP +newly RB I-NP +wed VBN I-NP +Marlowe NNP I-NP +roars VBZ B-VP +into IN B-PP +the DT B-NP +desert NN I-NP +resort NN I-NP +of IN B-PP +Poodle NNP B-NP +-LRB- ( O +a.k.a JJ O +. . O +Palm NNP O +-RRB- ) O +Springs NNP B-NP +at IN B-PP +the DT B-NP +wheel NN I-NP +of IN B-PP +a DT B-NP +Cadillac NNP I-NP +Fleetwood NNP I-NP +. . O + +His PRP$ B-NP +bride NN I-NP +is VBZ B-VP +the DT B-NP +rich JJ I-NP +and CC I-NP +beautiful JJ I-NP +Linda NNP I-NP +Loring NNP I-NP +, , O +a DT B-NP +character NN I-NP +who WP B-NP +also RB B-ADVP +appeared VBD B-VP +in IN B-PP +Chandler NNP B-NP +'s POS B-NP +`` `` I-NP +The DT I-NP +Long NNP I-NP +Goodbye NNP I-NP +'' '' I-NP +and CC I-NP +`` `` I-NP +Playback NNP I-NP +. . O +'' '' O + +Philip NNP B-NP +and CC I-NP +Linda NNP I-NP +move NN B-VP +into IN B-PP +her PRP$ B-NP +mansion NN I-NP +and CC O +ca MD B-VP +n't RB I-VP +keep VB I-VP +their PRP$ B-NP +hands NNS I-NP +off IN B-PP +each DT B-NP +other NN I-NP +, , O +even RB B-ADVP +in IN B-PP +front NN B-NP +of IN B-PP +the DT B-NP +Hawaiian\/Japanese JJ I-NP +houseman NN I-NP +. . O + +But CC O +the DT B-NP +lovebirds NNS I-NP +have VBP B-VP +a DT B-NP +conflict NN I-NP +. . O + +He PRP B-NP +wants VBZ B-VP +to TO I-VP +continue VB I-VP +being VBG I-VP +a DT B-NP +low-paid JJ I-NP +private JJ I-NP +eye NN I-NP +, , O +and CC O +she PRP B-NP +wants VBZ B-VP +him PRP B-NP +to TO B-VP +live VB I-VP +off IN B-PP +the DT B-NP +million CD I-NP +dollars NNS I-NP +she PRP B-NP +'s VBZ B-VP +settled VBD I-VP +on IN B-PP +him PRP B-NP +. . O + +That DT B-NP +'s VBZ B-VP +Chandler NNP B-NP +'s POS B-NP +setup NN I-NP +. . O + +Mr. NNP B-NP +Parker NNP I-NP +spins VBZ B-VP +it PRP B-NP +into IN B-PP +a DT B-NP +pretty RB I-NP +satisfying JJ I-NP +tale NN I-NP +involving VBG B-VP +Poodle NNP B-NP +Springs NNP I-NP +high JJ I-NP +life NN I-NP +, , O +Hollywood NNP B-NP +low JJ I-NP +life NN I-NP +and CC O +various JJ B-NP +folk NN I-NP +who WP B-NP +hang VBP B-VP +their PRP$ B-NP +hats NNS I-NP +in IN B-PP +both DT B-NP +worlds NNS I-NP +. . O + +The DT B-NP +supporting VBG I-NP +lineup NN I-NP +is VBZ B-VP +solid JJ B-ADJP +, , O +the DT B-NP +patter NN I-NP +is VBZ B-VP +amusing JJ B-ADJP +and CC O +there EX B-NP +'s VBZ B-VP +even RB B-ADVP +a DT B-NP +cameo NN I-NP +by IN B-PP +Bernie NNP B-NP +Ohls NNP I-NP +, , O +the DT B-NP +`` `` I-NP +good JJ I-NP +cop NN I-NP +'' '' O +of IN B-PP +previous JJ B-NP +Chandler NNP I-NP +books NNS I-NP +who WP B-NP +still RB B-ADVP +does VBZ B-VP +n't RB I-VP +hesitate VB I-VP +to TO I-VP +have VB I-VP +Marlowe NNP B-NP +jailed VBN B-VP +when WRB B-ADVP +it PRP B-NP +suits VBZ B-VP +his PRP$ B-NP +purposes NNS I-NP +. . O + +The DT B-NP +style NN I-NP +throughout IN I-NP +bears VBZ B-VP +a DT B-NP +strong JJ I-NP +resemblance NN I-NP +to TO B-PP +Chandler NNP B-NP +'s POS B-NP +prose NN I-NP +at IN B-PP +its PRP$ B-NP +most RBS I-NP +pared VBN I-NP +down RB B-PRT +. . O + +All DT B-NP +told VBD B-VP +, , O +Mr. NNP B-NP +Parker NNP I-NP +does VBZ B-VP +a DT B-NP +better JJR I-NP +job NN I-NP +of IN B-PP +making VBG B-VP +a DT B-NP +novel NN I-NP +out IN B-PP +of IN B-PP +this DT B-NP +abandoned VBN I-NP +fragment NN I-NP +than IN B-SBAR +anyone NN B-NP +might MD B-VP +have VB I-VP +had VBN I-VP +a DT B-NP +right NN I-NP +to TO B-VP +expect VB I-VP +. . O + +But CC O +there EX B-NP +are VBP B-VP +grounds NNS B-NP +for IN B-PP +complaint NN B-NP +. . O + +At IN B-PP +one CD B-NP +point NN I-NP +, , O +the DT B-NP +reader NN I-NP +is VBZ B-VP +two CD B-NP +steps NNS I-NP +ahead RB B-ADVP +of IN B-PP +Marlowe NNP B-NP +in IN B-PP +catching VBG B-VP +on IN B-PRT +to TO B-PP +a DT B-NP +double JJ I-NP +identity NN I-NP +scam NN I-NP +-- : O +and CC O +Marlowe NNP B-NP +is VBZ B-VP +supposed VBN I-VP +to TO I-VP +be VB I-VP +the DT B-NP +pro FW I-NP +. . O + +More RBR B-ADVP +bothersome JJ I-ADVP +, , O +there EX B-NP +are VBP B-VP +several JJ B-NP +apparent JJ I-NP +anachronisms NNS I-NP +. . O + +Contact NN B-NP +lenses NNS I-NP +, , O +tank NN B-NP +tops NNS I-NP +, , O +prostitutes NNS B-NP +openly RB B-VP +working VBG I-VP +the DT B-NP +streets NNS I-NP +of IN B-PP +Hollywood NNP B-NP +and CC O +the DT B-NP +Tequila NNP I-NP +Sunrise NNP I-NP +cocktail NN I-NP +all DT B-NP +seem VB B-VP +out IN B-PP +of IN B-PP +place NN B-NP +in IN B-PP +the DT B-NP +1950s CD I-NP +. . O + +A DT B-NP +little RB I-NP +more JJR B-NP +care NN I-NP +in IN B-PP +re-creating NN B-VP +Marlowe NNP B-NP +'s POS B-NP +universe NN I-NP +would MD B-VP +have VB I-VP +made VBN I-VP +the DT B-NP +book NN I-NP +that IN B-ADJP +much RB I-ADJP +more RBR I-ADJP +enjoyable JJ I-ADJP +. . O + +Mr. NNP B-NP +Nolan NNP I-NP +is VBZ B-VP +a DT B-NP +contributing VBG I-NP +editor NN I-NP +at IN B-PP +Los NNP B-NP +Angeles NNP I-NP +Magazine NNP I-NP +. . O + +Ko NNP B-NP +Shioya NNP I-NP +spent VBD B-VP +eight CD B-NP +years NNS I-NP +as IN B-PP +the DT B-NP +editor NN I-NP +in IN B-PP +chief NN B-NP +of IN B-PP +the DT B-NP +Japanese JJ I-NP +edition NN I-NP +of IN B-PP +Reader NNP B-NP +'s POS B-NP +Digest NNP I-NP +. . O + +`` `` O +Japan NNP B-NP +has VBZ B-VP +been VBN I-VP +a DT B-NP +major JJ I-NP +importer NN I-NP +of IN B-PP +foreign JJ B-NP +information NN I-NP +and CC I-NP +news NN I-NP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Shioya NNP I-NP +. . O + +`` `` O +But CC O +one CD B-NP +gets VBZ B-VP +fed VBN I-VP +up IN B-PRT +with IN B-PP +importing VBG B-VP +information NN B-NP +and CC I-NP +news NN I-NP +. . O +'' '' O + +Mr. NNP B-NP +Shioya NNP I-NP +has VBZ B-VP +turned VBN I-VP +the DT B-NP +tables NNS I-NP +. . O + +Today NN B-NP +, , O +he PRP B-NP +is VBZ B-VP +publisher NN B-NP +of IN B-PP +Business NNP B-NP +Tokyo NNP I-NP +magazine NN I-NP +, , O +the DT B-NP +first JJ I-NP +English-language JJ I-NP +business NN I-NP +magazine NN I-NP +devoted VBN B-VP +to TO B-PP +coverage NN B-NP +of IN B-PP +Japanese JJ B-NP +business NN I-NP +. . O + +After IN B-PP +a DT B-NP +slick JJ I-NP +redesign NN I-NP +, , O +the DT B-NP +two-year-old JJ I-NP +magazine NN I-NP +has VBZ B-VP +been VBN I-VP +relaunched VBN I-VP +this DT B-NP +month NN I-NP +by IN B-PP +its PRP$ B-NP +parent NN I-NP +company NN I-NP +, , O +Keizaikai NNP B-NP +Corp. NNP I-NP +, , O +the DT B-NP +Tokyo-based JJ I-NP +company NN I-NP +with IN B-PP +interests NNS B-NP +that WDT B-NP +include VBP B-VP +financial JJ B-NP +services NNS I-NP +, , O +book NN B-NP +publishing NN I-NP +and CC O +a DT B-NP +tourist NN I-NP +agency NN I-NP +. . O + +Printed JJ B-VP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +and CC O +carrying VBG B-VP +the DT O +line NN O +`` `` O +The DT B-NP +Insider NNP I-NP +'s POS B-NP +Japan NNP I-NP +, , O +'' '' O +Business NNP B-NP +Tokyo NNP I-NP +'s POS B-NP +October NNP I-NP +cover NN I-NP +story NN I-NP +was VBD B-VP +`` `` O +The DT B-NP +World NNP I-NP +'s POS B-NP +No. NN I-NP +1 CD I-NP +Customer NN I-NP +'' '' O +-- : O +Japanese JJ B-NP +women NNS I-NP +. . O + +Keizaikai NNP B-NP +is VBZ B-VP +one CD B-NP +of IN B-PP +a DT B-NP +small JJ I-NP +but CC I-NP +growing VBG I-NP +band NN I-NP +of IN B-PP +Japanese JJ B-NP +companies NNS I-NP +taking VBG B-VP +their PRP$ B-NP +first JJ I-NP +steps NNS I-NP +into IN B-PP +American JJ B-NP +publishing NN I-NP +, , O +after IN B-PP +making VBG B-VP +major JJ B-NP +investments NNS I-NP +in IN B-PP +entertainment NN B-NP +, , I-NP +real JJ I-NP +estate NN I-NP +and CC I-NP +banking NN I-NP +companies NNS I-NP +here RB B-ADVP +. . O + +Japanese JJ B-NP +concerns NNS I-NP +have VBP B-VP +retained VBN I-VP +a DT B-NP +number NN I-NP +of IN B-PP +publishing NN B-NP +consultants NNS I-NP +and CC O +media NNS B-NP +brokers NNS I-NP +to TO B-VP +study VB I-VP +the DT B-NP +U.S. NNP I-NP +market NN I-NP +, , O +including VBG B-PP +the DT B-NP +New NNP I-NP +York-based JJ I-NP +investment NN I-NP +banker NN I-NP +Veronis NNP B-NP +, , I-NP +Suhler NNP I-NP +& CC I-NP +Associates NNPS I-NP +. . O + +And CC O +they PRP B-NP +are VBP B-VP +quietly RB I-VP +linking VBG I-VP +up IN B-PRT +with IN B-PP +U.S. NNP B-NP +publishing NN I-NP +trade NN I-NP +groups NNS I-NP +. . O + +`` `` O +Japanese JJ B-NP +publishers NNS I-NP +want VBP B-VP +to TO I-VP +be VB I-VP +introduced VBN I-VP +to TO B-PP +the DT B-NP +publishing NN I-NP +and CC I-NP +information NN I-NP +industries NNS I-NP +, , O +'' '' O +said VBD B-VP +John NNP B-NP +Veronis NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +Veronis NNP B-NP +Suhler NNP I-NP +. . O + +While IN B-SBAR +there EX B-NP +are VBP B-VP +n't RB O +any DT B-NP +major JJ I-NP +deals NNS I-NP +in IN B-PP +the DT B-NP +works NNS I-NP +currently RB B-ADVP +on IN B-PP +the DT B-NP +scale NN I-NP +of IN B-PP +Sony NNP B-NP +Corp. NNP I-NP +'s POS B-NP +recent JJ O +$ $ B-ADJP +3.4 CD O +billion CD O +agreement NN B-NP +to TO B-VP +buy VB I-VP +Columbia NNP B-NP +Pictures NNP I-NP +Entertainment NNP I-NP +Inc. NNP I-NP +, , O +observers NNS B-NP +do VBP B-VP +n't RB I-VP +rule VB I-VP +out RP B-PRT +a DT B-NP +transaction NN I-NP +of IN B-PP +that DT B-NP +size NN I-NP +. . O + +`` `` O +The DT B-NP +Japanese JJ I-NP +take NN B-VP +the DT B-NP +long JJ I-NP +view NN I-NP +. . O +'' '' O +said VBD B-VP +Mr. NNP B-NP +Veronis NNP I-NP +. . O + +`` `` O +It PRP B-NP +may MD B-VP +not RB I-VP +be VB I-VP +weeks NNS B-NP +or CC I-NP +months NNS I-NP +, , O +but CC O +they PRP B-NP +are VBP B-VP +also RB B-ADVP +opportunistic JJ B-ADJP +and CC O +if IN B-SBAR +they PRP B-NP +feel VBP B-VP +comfortable JJ B-ADJP +, , O +they PRP B-NP +will MD B-VP +move VB I-VP +on IN B-PP +a DT B-NP +deal NN I-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +In IN B-PP +recent JJ B-NP +months NNS I-NP +, , O +three CD B-NP +big JJ I-NP +Tokyo-based JJ I-NP +publishing NN I-NP +concerns NNS I-NP +-- : O +including VBG B-PP +Nikkei NNP B-NP +Business NNP I-NP +Publications NNPS I-NP +, , O +Nikkei NNP B-NP +Home NNP I-NP +-LRB- ( O +no DT B-NP +relation NN I-NP +-RRB- ) O +, , O +and CC O +Magazine NNP B-NP +House NNP I-NP +-- : O +applied VBN B-VP +for IN B-PP +membership NN B-NP +in IN B-PP +Magazine NNP B-NP +Publishers NNPS I-NP +of IN B-PP +America NNP B-NP +, , O +which WDT B-NP +represents VBZ B-VP +almost RB B-NP +all DT I-NP +U.S. NNP I-NP +consumer NN I-NP +magazines NNS I-NP +. . O + +Japanese JJ B-NP +involvement NN I-NP +in IN B-PP +American JJ B-NP +publishing NN I-NP +has VBZ B-VP +been VBN I-VP +so RB B-ADJP +small JJ I-ADJP +to TO B-PP +date VB B-NP +that IN B-SBAR +magazines NNS B-NP +such JJ B-PP +as IN I-PP +Business NNP B-NP +Tokyo NNP I-NP +are VBP B-VP +considered VBN I-VP +groundbreakers NNS B-NP +. . O + +When WRB B-ADVP +Keizaikai NNP B-NP +launched VBD B-VP +Business NNP B-NP +Tokyo NNP I-NP +in IN B-PP +1987 CD B-NP +, , O +it PRP B-NP +appealed VBD B-VP +to TO B-PP +a DT B-NP +more RBR I-NP +multinational JJ I-NP +audience NN I-NP +. . O + +The DT B-NP +magazine NN I-NP +was VBD B-VP +overhauled VBN I-VP +with IN B-PP +the DT B-NP +aid NN I-NP +of IN B-PP +American JJ B-NP +magazine NN I-NP +design NN I-NP +gurus NNS I-NP +Milton NNP I-NP +Glaser NNP I-NP +and CC I-NP +Walter NNP I-NP +Bernard NNP I-NP +, , O +and CC O +targets NNS B-VP +top-level JJ B-NP +U.S. NNP I-NP +executives NNS I-NP +with IN B-PP +Japanese JJ B-NP +and CC I-NP +American JJ I-NP +advertisers NNS I-NP +. . O + +American JJ B-NP +publishers NNS I-NP +appear VBP B-VP +more JJR B-ADJP +than IN I-ADJP +ready JJ I-ADJP +to TO B-VP +do VB I-VP +some DT B-NP +selling NN I-NP +. . O + +Susumu NNP B-NP +Ohara NNP I-NP +, , O +president NN B-NP +of IN B-PP +Nihon NNP B-NP +Keizai NNP I-NP +Shinbun NNP I-NP +America NNP I-NP +Inc. NNP I-NP +, , O +publisher NN B-NP +of IN B-PP +the DT B-NP +Japan NNP I-NP +Economic NNP I-NP +Journal NNP I-NP +, , O +said VBD B-VP +he PRP B-NP +receives VBZ B-VP +telephone NN B-NP +calls VBZ I-NP +weekly JJ B-ADVP +from IN B-PP +media NNS B-NP +bankers NNS I-NP +on IN B-PP +whether IN O +his PRP$ B-NP +parent NN I-NP +company NN I-NP +is VBZ B-VP +interested JJ B-ADJP +in IN B-PP +buying VBG B-VP +a DT B-NP +U.S. NNP I-NP +consumer NN I-NP +or CC I-NP +business NN I-NP +magazine NN I-NP +. . O + +`` `` O +The DT B-NP +Japanese JJ I-NP +are VBP B-VP +in IN B-PP +the DT B-NP +early JJ I-NP +stage NN I-NP +right RB B-ADVP +now RB I-ADVP +, , O +'' '' O +said VBD B-VP +Thomas NNP B-NP +Kenney NNP I-NP +, , O +a DT B-NP +onetime JJ I-NP +media NNS I-NP +adviser NN I-NP +for IN B-PP +First NNP B-NP +Boston NNP I-NP +Corp. NNP I-NP +who WP B-NP +was VBD B-VP +recently RB I-VP +appointed VBN I-VP +president NN B-NP +of IN B-PP +Reader NNP B-NP +'s POS B-NP +Digest NNP I-NP +Association NNP I-NP +'s POS B-NP +new JJ I-NP +Magazine NNP I-NP +Publishing NNP I-NP +Group NNP I-NP +. . O + +`` `` O +Before IN B-ADVP +, , O +they PRP B-NP +were VBD B-VP +interested JJ B-ADJP +in IN B-PP +hard JJ B-NP +assets NNS I-NP +and CC O +they PRP B-NP +saw VBD B-VP +magazines NNS B-NP +as IN B-PP +soft JJ B-ADJP +. . O + +Now RB B-ADVP +they PRP B-NP +realize VBP B-VP +magazines NNS B-NP +are VBP B-VP +as IN B-NP +much JJ I-NP +a DT I-NP +franchise NN I-NP +as IN B-SBAR +Nabisco NNP B-NP +is VBZ B-VP +a DT B-NP +franchise NN I-NP +. . O + +Bell NNP B-NP +Atlantic NNP I-NP +Corp. NNP I-NP +and CC O +Southern NNP B-NP +New NNP I-NP +England NNP I-NP +Telecommunications NNPS I-NP +posted VBD B-VP +strong JJ B-NP +profit NN I-NP +gains NNS I-NP +for IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +, , O +while IN B-SBAR +Nynex NNP B-NP +Corp. NNP I-NP +, , O +Pacific NNP B-NP +Telesis NNP I-NP +Group NNP I-NP +and CC O +U NNP B-NP +S NNP I-NP +West NNP I-NP +Inc. NNP I-NP +reported VBD B-VP +earnings NNS B-NP +declines NNS I-NP +for IN B-PP +the DT B-NP +period NN I-NP +. . O + +Rate NN B-NP +settlements NNS I-NP +in IN B-PP +Minnesota NNP B-NP +and CC I-NP +Colorado NNP I-NP +depressed JJ B-VP +U NNP B-NP +S NNP I-NP +West NNP I-NP +'s POS B-NP +third-quarter JJ I-NP +profit NN I-NP +. . O + +Denver-based NNP B-NP +U NNP I-NP +S NNP I-NP +West NNP I-NP +said VBD B-VP +net JJ B-NP +income NN I-NP +dropped VBD B-VP +8.9 CD B-NP +% NN I-NP +, , O +noting VBG B-VP +that IN B-SBAR +the DT B-NP +year-ago JJ I-NP +quarter NN I-NP +included VBD B-VP +the DT B-NP +sale NN I-NP +of IN B-PP +a DT B-NP +building NN I-NP +by IN B-PP +its PRP$ B-NP +BetaWest NNP I-NP +Properties NNP I-NP +unit NN I-NP +. . O + +Revenue NN B-NP +dropped VBD B-VP +4.3 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +2.3 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +2.4 CD I-NP +billion CD I-NP +, , O +reflecting VBG B-VP +declines NNS B-NP +in IN B-PP +its PRP$ B-NP +consumer-telephone JJ I-NP +sector NN I-NP +, , I-NP +long-distance JJ I-NP +carrier NN I-NP +business NN I-NP +and CC I-NP +diversified JJ I-NP +division NN I-NP +. . O + +Revenue NN B-NP +from IN B-PP +business-telephone JJ B-NP +operations NNS I-NP +grew VBD B-VP +3.3 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +618.9 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +599.4 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +New JJ B-NP +telephone NN I-NP +lines NNS I-NP +posted VBD B-VP +healthy JJ B-NP +growth NN I-NP +. . O + +Overall RB B-ADVP +they PRP B-NP +increased VBD B-VP +2.8 CD B-NP +% NN I-NP +to TO B-PP +12.1 CD B-NP +million CD I-NP +, , O +putting VBG B-VP +U NNP B-NP +S NNP I-NP +West NNP I-NP +over IN B-PP +the DT B-NP +12 CD I-NP +million CD I-NP +mark NN I-NP +for IN B-PP +the DT B-NP +first JJ I-NP +time NN I-NP +. . O + +Business NN B-NP +lines NNS I-NP +increased VBN B-VP +3.7 CD B-NP +% NN I-NP +to TO B-PP +3.3 CD B-NP +million CD I-NP +. . O + +`` `` O +On IN B-PP +a DT B-NP +truly RB I-NP +comparable JJ I-NP +basis NN I-NP +, , O +we PRP B-NP +'ve VBP B-VP +seen VBN I-VP +modest JJ B-NP +earnings NNS I-NP +growth NN I-NP +this DT B-NP +year NN I-NP +from IN B-PP +the DT B-NP +operations NNS I-NP +of IN B-PP +our PRP$ B-NP +company NN I-NP +, , O +'' '' O +said VBD B-VP +Jack NNP B-NP +MacAllister NNP I-NP +, , O +chairman NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +. . O + +`` `` O +The DT B-NP +major JJ I-NP +negative JJ I-NP +factor NN I-NP +was VBD B-VP +the DT B-NP +cumulative JJ I-NP +impact NN I-NP +of IN B-PP +regulatory JJ B-NP +activity NN I-NP +over IN B-PP +the DT B-NP +past JJ I-NP +two CD I-NP +years NNS I-NP +. . O +'' '' O + +He PRP B-NP +said VBD B-VP +the DT B-NP +company NN I-NP +expects VBZ B-VP +to TO I-VP +be VB I-VP +`` `` O +on IN B-PP +target NN B-NP +'' '' O +with IN B-PP +analysts NNS B-NP +' POS B-NP +projections NNS I-NP +by IN B-PP +year NN B-NP +end NN I-NP +but CC O +conceded VBD B-VP +that IN B-SBAR +the DT B-NP +fourth JJ I-NP +quarter NN I-NP +represents VBZ B-VP +`` `` O +a DT B-NP +significant JJ I-NP +challenge NN I-NP +. . O +'' '' O + +Expenses NNS B-NP +in IN B-PP +the DT B-NP +quarter NN I-NP +dropped VBD B-VP +11.2 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +664.3 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +747.7 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Yesterday NN B-NP +, , O +U NNP B-NP +S NNP I-NP +West NNP I-NP +shares NNS I-NP +rose VBD B-VP +75 CD B-NP +cents NNS I-NP +to TO B-VP +close VB I-VP +at IN B-PP +$ $ B-NP +71.25 CD I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +. . O + +Philadelphia-based JJ B-NP +Bell NNP I-NP +Atlantic NNP I-NP +said VBD B-VP +net NN B-NP +rose VBD B-VP +6.5 CD B-NP +% NN I-NP +, , O +aided VBN B-VP +by IN B-PP +strong JJ B-NP +growth NN I-NP +in IN B-PP +the DT B-NP +network-services JJ I-NP +business NN I-NP +and CC O +an DT B-NP +increase NN I-NP +in IN B-PP +the DT B-NP +number NN I-NP +of IN B-PP +new JJ B-NP +telephone NN I-NP +lines NNS I-NP +. . O + +Revenue NN B-NP +jumped VBD B-VP +5.6 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +2.9 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +2.8 CD I-NP +billion CD I-NP +in IN B-PP +the DT B-NP +year-ago JJ I-NP +quarter NN I-NP +. . O + +Revenue NN B-NP +from IN B-PP +financial JJ B-NP +and CC I-NP +real-estate NN I-NP +services NNS I-NP +jumped VBD B-VP +23 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +177.4 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +144.1 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Network-access JJ B-NP +revenue NN I-NP +from IN B-PP +long-distance JJ B-NP +telephone NN I-NP +companies NNS I-NP +increased VBN B-VP +6.4 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +618.6 CD I-NP +million CD I-NP +. . O + +Bell NNP B-NP +Atlantic NNP I-NP +added VBD B-VP +148,000 CD B-NP +new JJ I-NP +telephone NN I-NP +lines NNS I-NP +in IN B-PP +the DT B-NP +quarter NN I-NP +for IN B-PP +a DT B-NP +total NN I-NP +of IN B-PP +16.9 CD B-NP +million CD I-NP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +per-share JJ B-NP +earnings NNS I-NP +were VBD B-VP +slightly RB I-VP +reduced VBN I-VP +by IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +4.1 CD B-NP +million CD I-NP +shares NNS I-NP +of IN B-PP +treasury NN B-NP +stock NN I-NP +to TO B-PP +the DT B-NP +company NN I-NP +'s POS I-NP +newly RB B-ADJP +formed VBN I-ADJP +Employee NNP B-NP +Stock NNP I-NP +Ownership NNP I-NP +Plans NNS I-NP +. . O + +In IN B-PP +composite JJ B-NP +trading NN I-NP +on IN B-PP +the DT B-NP +Big NNP I-NP +Board NNP I-NP +, , O +Bell NNP B-NP +Atlantic NNP I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +100.625 CD I-NP +, , O +up IN B-ADVP +$ $ B-NP +1.50 CD I-NP +a DT B-NP +share NN I-NP +. . O + +At IN B-PP +Nynex NNP B-NP +, , O +net NN B-NP +slumped VBD B-VP +14.8 CD B-NP +% NN I-NP +, , O +primarily RB B-ADVP +because IN B-PP +of IN I-PP +a DT B-NP +continuing VBG I-NP +strike NN I-NP +by IN B-PP +60,000 CD B-NP +employees NNS I-NP +, , O +lower-than-expected JJ B-NP +profit NN I-NP +at IN B-PP +its PRP$ B-NP +New NNP I-NP +York NNP I-NP +Telephone NNP I-NP +unit NN I-NP +and CC O +significantly RB B-NP +higher JJR I-NP +taxes NNS I-NP +and CC I-NP +costs NNS I-NP +. . O + +State NNP B-NP +and CC I-NP +local JJ I-NP +taxes NNS I-NP +increased VBN B-VP +to TO B-PP +$ $ B-NP +131.3 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +99.1 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Nynex NNP B-NP +said VBD B-VP +expenses NNS B-NP +rose VBD B-VP +4.5 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +2.73 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +2.61 CD I-NP +billion CD I-NP +, , O +a DT B-NP +$ $ I-NP +119 CD I-NP +million CD I-NP +increase NN I-NP +. . O + +Most JJS B-NP +of IN B-PP +the DT B-NP +higher JJR I-NP +costs NNS I-NP +were VBD B-VP +associated VBN I-VP +with IN B-PP +acquisitions NNS B-NP +and CC O +growth NN B-NP +in IN B-PP +nonregulated JJ B-NP +business NN I-NP +units NNS I-NP +, , O +it PRP B-NP +added VBD B-VP +. . O + +`` `` O +Our PRP$ B-NP +net JJ I-NP +income NN I-NP +is VBZ B-VP +n't RB O +where WRB B-ADVP +we PRP B-NP +would MD B-VP +want VB I-VP +it PRP B-NP +to TO B-VP +be VB I-VP +at IN B-PP +this DT B-NP +point NN I-NP +, , O +'' '' O +said VBD B-VP +William NNP B-NP +C. NNP I-NP +Ferguson NNP I-NP +, , O +chairman NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +. . O + +`` `` O +This DT B-NP +deviation NN I-NP +from IN B-PP +our PRP$ B-NP +past JJ I-NP +growth NN I-NP +patterns NNS I-NP +is VBZ B-VP +caused VBN I-VP +largely RB B-ADVP +by IN B-PP +lower JJR B-NP +earnings NNS I-NP +at IN B-PP +New NNP B-NP +York NNP I-NP +Telephone NNP I-NP +. . O +'' '' O + +Mr. NNP B-NP +Ferguson NNP I-NP +said VBD B-VP +a DT B-NP +continued VBN I-NP +softness NN I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +City NNP I-NP +area NN I-NP +'s POS B-NP +economy NN I-NP +and CC O +increased VBN B-NP +competition NN I-NP +, , O +particularly RB B-ADVP +in IN B-PP +the DT B-NP +private-line JJ I-NP +market NN I-NP +, , O +took VBD B-VP +a DT B-NP +heavy JJ I-NP +toll NN I-NP +on IN B-PP +earnings NNS B-NP +. . O + +The DT B-NP +three-month-old JJ I-NP +strike NN I-NP +at IN B-PP +Nynex NNP B-NP +seriously RB B-ADVP +hurt VBD B-VP +the DT B-NP +installation NN I-NP +of IN B-PP +new JJ B-NP +telephone NN I-NP +lines NNS I-NP +in IN B-PP +the DT B-NP +quarter NN I-NP +. . O + +Nynex NNP B-NP +said VBD B-VP +access NN B-NP +lines NNS I-NP +in IN B-PP +service NN B-NP +at IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +quarter NN I-NP +were VBD B-VP +off IN B-ADVP +18,000 CD B-NP +from IN B-PP +the DT B-NP +previous JJ I-NP +quarter NN I-NP +, , O +which WDT B-NP +reported VBD B-VP +an DT B-NP +increase NN I-NP +of IN B-PP +160,000 CD B-NP +new JJ I-NP +access NN I-NP +lines NNS I-NP +. . O + +Revenue NN B-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +3.31 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +3.18 CD I-NP +billion CD I-NP +, , O +mostly RB B-ADVP +from IN B-PP +acquisition NN B-NP +of IN B-PP +AGS NNP B-NP +Computers NNPS I-NP +and CC O +robust JJ B-NP +non-regulated JJ I-NP +businesses NNS I-NP +. . O + +In IN B-PP +Big NNP B-NP +Board NNP I-NP +composite JJ I-NP +trading NN I-NP +yesterday NN B-NP +, , O +Nynex NNP B-NP +common NN I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +81.125 CD I-NP +, , O +up IN B-ADVP +$ $ B-NP +1.625 CD I-NP +. . O + +Southern NNP B-NP +New NNP I-NP +England NNP I-NP +Telecommunications NNPS I-NP +, , O +which WDT B-NP +bolstered VBD B-VP +its PRP$ B-NP +marketing NN I-NP +efforts NNS I-NP +for IN B-PP +telephone NN B-NP +and CC I-NP +non-telephone JJ I-NP +subsidiaries NNS I-NP +, , O +reported VBD B-VP +that IN O +net JJ B-NP +increased VBN B-VP +8.1 CD B-NP +% NN I-NP +. . O + +Walter NNP B-NP +H. NNP I-NP +Monteith NNP I-NP +Jr. NNP I-NP +, , O +SNET NNP B-NP +chairman NN I-NP +and CC I-NP +chief JJ I-NP +executive JJ I-NP +officer NN I-NP +, , O +said VBD B-VP +: : O +`` `` O +Innovative JJ B-NP +marketing NN I-NP +of IN B-PP +our PRP$ B-NP +products NNS I-NP +and CC I-NP +services NNS I-NP +contributed VBD B-VP +to TO I-VP +increase VB I-VP +revenue NN B-NP +. . O +'' '' O + +Revenue NN B-NP +and CC I-NP +sales NNS I-NP +increased VBN B-VP +7.5 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +423.9 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +394.4 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Yellow JJ B-NP +pages NNS I-NP +advertising NN I-NP +sales NNS I-NP +rose VBD B-VP +11.8 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +41.2 CD I-NP +million CD I-NP +. . O + +Cost NN B-NP +and CC I-NP +expenses NNS I-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +, , O +excluding VBG B-PP +interest NN B-NP +, , O +increased VBN B-VP +6.1 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +333.3 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +314 CD I-NP +million CD I-NP +the DT B-NP +year NN I-NP +before RB B-ADVP +. . O + +SNET NNP B-NP +common NN I-NP +rose VBD B-VP +$ $ B-NP +1.25 CD I-NP +to TO B-PP +$ $ B-NP +85.50 CD I-NP +a DT B-NP +share NN I-NP +yesterday NN B-NP +in IN B-PP +composite JJ B-NP +trading NN I-NP +on IN B-PP +the DT B-NP +Big NNP I-NP +Board NNP I-NP +. . O + +San NNP B-NP +Francisco-based JJ I-NP +Pacific NNP I-NP +Telesis NNP I-NP +said VBD B-VP +net NN B-NP +declined VBD B-VP +12.6 CD B-NP +% NN I-NP +, , O +primarily RB B-ADVP +because IN B-PP +of IN I-PP +regulatory JJ B-NP +action NN I-NP +. . O + +Revenue NN B-NP +was VBD B-VP +about IN B-ADJP +flat JJ I-ADJP +at IN B-PP +$ $ B-NP +2.4 CD I-NP +billion CD I-NP +. . O + +Revenue NN B-NP +was VBD B-VP +reduced VBN I-VP +$ $ B-NP +33 CD I-NP +million CD I-NP +by IN B-PP +three CD B-NP +extraordinary JJ I-NP +items NNS I-NP +: : O +a DT B-NP +California NNP I-NP +Public NNP I-NP +Utilities NNP I-NP +Commission NNP I-NP +refund NN I-NP +for IN B-PP +an DT B-NP +American NNP I-NP +Telephone NNP I-NP +& CC I-NP +Telegraph NNP I-NP +Co. NNP I-NP +billing NN I-NP +adjustment NN I-NP +; : O +a DT B-NP +provision NN I-NP +for IN B-PP +productivity NN B-NP +sharing VBG I-NP +to TO B-VP +be VB I-VP +paid VBN I-VP +to TO B-PP +customers NNS B-NP +in IN B-PP +1990 CD B-NP +and CC O +a DT B-NP +one-time JJ I-NP +accrual NN I-NP +for IN B-PP +a DT B-NP +toll NN I-NP +settlement NN I-NP +with IN B-PP +long-distance JJ B-NP +telephone NN I-NP +companies NNS I-NP +. . O + +Excluding VBG B-PP +the DT B-NP +one-time JJ I-NP +charges NNS I-NP +, , O +the DT B-NP +company NN I-NP +would MD B-VP +have VB I-VP +posted VBN I-VP +earnings NNS B-NP +of IN B-PP +$ $ B-NP +298 CD I-NP +million CD I-NP +, , O +or CC O +73 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +The DT B-NP +company NN I-NP +also RB B-ADVP +was VBD B-VP +hurt VBN I-VP +by IN B-PP +a DT B-NP +$ $ I-NP +289 CD I-NP +million CD I-NP +rate NN I-NP +reduction NN I-NP +that WDT B-NP +went VBD B-VP +into IN B-PP +effect NN B-NP +in IN B-PP +1989 CD B-NP +. . O + +`` `` O +This DT B-NP +is VBZ B-VP +a DT B-NP +good JJ I-NP +quarter NN I-NP +for IN B-PP +us PRP B-NP +in IN B-PP +terms NNS B-NP +of IN B-PP +our PRP$ B-NP +business NN I-NP +fundamentals NNS I-NP +, , O +'' '' O +said VBD B-VP +Sam NNP B-NP +Ginn NNP I-NP +, , O +chairman NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +. . O + +Pacific NNP B-NP +Telesis NNP I-NP +said VBD B-VP +new JJ B-NP +telephone NN I-NP +lines NNS I-NP +increased VBN B-VP +4.5 CD B-NP +% NN I-NP +for IN B-PP +a DT B-NP +total NN I-NP +of IN B-PP +about RB B-NP +$ $ I-NP +13.5 CD I-NP +million CD I-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +; : O +toll NN B-NP +calls VBZ I-NP +increased VBN B-VP +9.6 CD B-NP +% NN I-NP +to TO B-PP +807 CD B-NP +million CD I-NP +and CC O +minutes NNS B-NP +of IN B-PP +telephone NN B-NP +usage NN I-NP +increased VBN B-VP +to TO B-PP +9.9 CD B-NP +billion CD I-NP +. . O + +In IN B-PP +Big NNP B-NP +Board NNP I-NP +composite JJ I-NP +trading NN I-NP +yesterday NN B-NP +, , O +Pacific NNP B-NP +Telesis NNP I-NP +common NN I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +45.50 CD I-NP +, , O +up IN B-ADVP +87.5 CD B-NP +cents NNS I-NP +. . O + +a DT O +- : O +Includes VBZ B-VP +a DT B-NP +one-time JJ I-NP +gain NN I-NP +of IN B-PP +$ $ B-NP +88.7 CD I-NP +million CD I-NP +from IN B-PP +a DT B-NP +commonstock NN I-NP +sale NN I-NP +by IN B-PP +U NNP B-NP +S NNP I-NP +West NNP I-NP +'s POS B-NP +U NNP I-NP +S NNP I-NP +West NNP I-NP +New NNP I-NP +Vector NNP I-NP +Group NNP I-NP +. . O + +b NN O +- : O +Includes VBZ B-VP +a DT B-NP +$ $ I-NP +41.3 CD I-NP +million CD I-NP +gain NN I-NP +on IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +FiberCom NNP B-NP +. . O + +Amoco NNP B-NP +Corp. NNP I-NP +said VBD B-VP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +plunged VBD B-VP +39 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +336 CD I-NP +million CD I-NP +, , O +or CC O +65 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +as IN B-SBAR +gasoline NN B-NP +refining NN I-NP +and CC I-NP +marketing NN I-NP +profits NNS I-NP +lagged VBN B-VP +substantially RB B-ADVP +behind IN B-PP +last JJ B-NP +year NN I-NP +'s POS B-NP +record NN I-NP +level NN I-NP +. . O + +A DT B-NP +charge NN I-NP +of IN B-PP +$ $ B-NP +80 CD I-NP +million CD I-NP +related VBN B-VP +to TO B-PP +projected VBN B-NP +environmental JJ I-NP +costs NNS I-NP +in IN B-PP +its PRP$ B-NP +refining NN I-NP +and CC I-NP +marketing NN I-NP +operations NNS I-NP +further JJ B-ADVP +depressed JJ B-VP +results NNS B-NP +. . O + +A DT B-NP +spokesman NN I-NP +said VBD B-VP +Amoco NNP B-NP +completed VBD B-VP +an DT B-NP +environmental JJ I-NP +analysis NN I-NP +last JJ B-NP +quarter NN I-NP +but CC O +that IN B-SBAR +no DT B-NP +single JJ I-NP +clean-up JJ I-NP +project NN I-NP +was VBD B-VP +responsible JJ B-ADJP +. . O + +In IN B-PP +the DT B-NP +1988 CD I-NP +third JJ I-NP +quarter NN I-NP +, , O +the DT B-NP +Chicago-based JJ I-NP +oil NN I-NP +company NN I-NP +earned VBD B-VP +$ $ B-NP +552 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.07 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Revenue NN B-NP +in IN B-PP +the DT B-NP +latest JJS I-NP +quarter NN I-NP +rose VBD B-VP +12 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +6.6 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +5.91 CD I-NP +billion CD I-NP +. . O + +Aside RB B-ADVP +from IN B-PP +the DT B-NP +special JJ I-NP +charge NN I-NP +, , O +Amoco NNP B-NP +'s POS B-NP +results NNS I-NP +were VBD B-VP +in IN B-PP +line NN B-NP +with IN B-PP +Wall NNP B-NP +Street NNP I-NP +estimates NNS I-NP +. . O + +The DT B-NP +company NN I-NP +'s POS B-NP +stock NN I-NP +ended VBD B-VP +at IN B-PP +$ $ B-NP +48.375 CD I-NP +, , O +up IN B-ADVP +25 CD B-NP +cents NNS I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +. . O + +Amoco NNP B-NP +is VBZ B-VP +the DT B-NP +first JJ I-NP +major JJ I-NP +oil NN I-NP +company NN I-NP +to TO B-VP +report VB I-VP +third-quarter JJ B-NP +results NNS I-NP +. . O + +Analysts NNS B-NP +expect VBP B-VP +others NNS B-NP +to TO B-VP +show VB I-VP +a DT B-NP +similar JJ I-NP +pattern NN I-NP +. . O + +Generally RB B-ADVP +in IN B-PP +the DT B-NP +quarter NN I-NP +, , O +overproduction NN B-NP +of IN B-PP +gasoline NN B-NP +and CC O +higher JJR B-NP +crude JJ I-NP +oil NN I-NP +prices NNS I-NP +pressured VBD B-VP +profitability NN B-NP +. . O + +The DT B-NP +industry NN I-NP +'s POS B-NP +chemical NN I-NP +profits NNS I-NP +also RB B-ADVP +declined VBD B-VP +because IN B-SBAR +excess JJ B-NP +capacity NN I-NP +has VBZ B-VP +depressed JJ I-VP +prices NNS B-NP +. . O + +Gasoline NN B-NP +margins NNS I-NP +may MD B-VP +rebound VB I-VP +this DT B-NP +quarter NN I-NP +, , O +some DT B-NP +industry NN I-NP +officials NNS I-NP +say VBP B-VP +, , O +but CC O +they PRP B-NP +believe VBP B-VP +chemical NN B-NP +margins NNS I-NP +could MD B-VP +worsen VB I-VP +. . O + +American NNP B-NP +Petrofina NNP I-NP +Inc. NNP I-NP +, , O +a DT B-NP +Dallas-based JJ I-NP +integrated VBN I-NP +oil NN I-NP +company NN I-NP +, , O +yesterday NN B-NP +said VBD B-VP +its PRP$ B-NP +third-quarter JJ I-NP +earnings NNS I-NP +declined VBN B-VP +by IN B-PP +more JJR B-NP +than IN I-NP +half NN I-NP +. . O + +Fina NNP B-NP +blamed VBD B-VP +lower JJR B-NP +chemical NN I-NP +prices NNS I-NP +, , O +reduced VBN B-NP +gasoline NN I-NP +margins NNS I-NP +and CC O +refinery NN B-NP +maintenance NN I-NP +shutdowns NNS I-NP +. . O + +It PRP B-NP +said VBD B-VP +net JJ B-NP +income NN I-NP +dropped VBD B-VP +to TO B-PP +$ $ B-NP +15.1 CD I-NP +million CD I-NP +, , O +or CC O +98 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +35.2 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +2.66 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Sales NNS B-NP +rose VBD B-VP +2.2 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +711.9 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +696.1 CD I-NP +million CD I-NP +. . O + +Amoco NNP B-NP +'s POS B-NP +refining NN I-NP +and CC I-NP +marketing NN I-NP +profit NN I-NP +in IN B-PP +the DT B-NP +quarter NN I-NP +fell VBD B-VP +to TO B-PP +$ $ B-NP +134 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +319 CD I-NP +million CD I-NP +. . O + +Chemical JJ B-NP +earnings NNS I-NP +declined VBN B-VP +by IN B-PP +one-third NN B-NP +to TO B-PP +$ $ B-NP +120 CD I-NP +million CD I-NP +last JJ B-NP +year NN I-NP +'s POS B-NP +robust JJ I-NP +levels NNS I-NP +. . O + +Amoco NNP B-NP +'s POS B-NP +domestic JJ I-NP +oil NN I-NP +and CC I-NP +natural JJ I-NP +gas NN I-NP +operations NNS I-NP +recorded VBD B-VP +a DT B-NP +profit NN I-NP +of IN B-PP +$ $ B-NP +104 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +quarter NN I-NP +compared VBN B-PP +with IN B-PP +a DT B-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +5 NN I-NP +million CD I-NP +, , O +`` `` O +primarily RB B-ADVP +on IN B-PP +the DT B-NP +strength NN I-NP +of IN B-PP +higher JJR B-NP +crude JJ I-NP +oil NN I-NP +prices NNS I-NP +, , O +'' '' O +said VBD B-VP +Chairman NNP B-NP +Richard NNP I-NP +M. NNP I-NP +Morrow NNP I-NP +. . O + +Amoco NNP B-NP +also RB B-ADVP +sharply RB B-ADVP +boosted VBD B-VP +natural-gas NN B-NP +output NN I-NP +, , O +part NN B-NP +of IN B-PP +it PRP B-NP +from IN B-PP +properties NNS B-NP +acquired VBN B-VP +from IN B-PP +Tenneco NNP B-NP +Inc. NNP I-NP +last JJ B-NP +year NN I-NP +. . O + +But CC O +foreign JJ B-NP +exploration NN I-NP +and CC I-NP +production NN I-NP +earnings NNS I-NP +fell VBD B-VP +sharply RB B-ADVP +, , O +to TO B-PP +$ $ B-NP +12 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +95 CD I-NP +million CD I-NP +. . O + +Higher JJR B-NP +oil NN I-NP +prices NNS I-NP +were VBD B-VP +n't RB O +enough RB B-ADJP +to TO B-VP +offset VB I-VP +a DT B-NP +roughly RB I-NP +$ $ I-NP +20 CD I-NP +million CD I-NP +charge NN I-NP +related VBN B-VP +to TO B-PP +a DT B-NP +10 CD I-NP +% NN I-NP +reduction NN I-NP +in IN B-PP +Amoco NNP B-NP +'s POS B-NP +Canadian JJ I-NP +work NN I-NP +force NN I-NP +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +increased VBN B-NP +exploration NN I-NP +expenses NNS I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +Amoco NNP B-NP +said VBD B-VP +that IN B-SBAR +net JJ B-NP +income NN I-NP +fell VBD B-VP +to TO B-PP +$ $ B-NP +1.29 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +1.69 CD I-NP +billion CD I-NP +but CC O +if IN B-SBAR +unusual JJ B-NP +items NNS I-NP +are VBP B-VP +excluded VBN I-VP +, , O +operations NNS B-NP +produced VBN B-VP +essentially RB B-NP +flat JJ I-NP +results NNS I-NP +. . O + +Revenue NN B-NP +rose VBD B-VP +12 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +19.93 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +17.73 CD I-NP +billion CD I-NP +. . O + +James NNP B-NP +F. NNP I-NP +Gero NNP I-NP +, , O +former JJ B-NP +chairman NN I-NP +and CC I-NP +chief JJ I-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +Varo NNP B-NP +Inc. NNP I-NP +, , O +and CC O +Richard NNP B-NP +J. NNP I-NP +Hatchett NNP I-NP +III NNP I-NP +, , O +a DT B-NP +Dallas NNP I-NP +investment NN I-NP +banker NN I-NP +, , O +were VBD B-VP +elected VBN I-VP +directors NNS B-NP +of IN B-PP +this DT B-NP +medical-products NNS I-NP +concern VBP I-NP +, , O +boosting VBG B-VP +the DT B-NP +board NN I-NP +to TO B-PP +seven CD B-NP +members NNS I-NP +. . O + +For IN B-PP +retailers NNS B-NP +, , O +Christmas NNP B-NP +, , B-NP +not RB I-NP +Halloween NNP B-NP +, , O +promises VBZ B-VP +to TO I-VP +be VB I-VP +this DT B-NP +year NN I-NP +'s POS B-NP +spookiest JJS I-NP +season NN I-NP +. . O + +Many JJ B-NP +retailers NNS I-NP +fear VBP B-VP +a DT B-NP +price NN I-NP +war NN I-NP +will MD B-VP +erupt VB I-VP +if IN B-SBAR +cash-strapped JJ B-NP +companies NNS I-NP +such JJ B-PP +as IN I-PP +Campeau NNP B-NP +Corp. NNP I-NP +slash VB B-VP +tags NNS B-NP +to TO B-VP +spur VB I-VP +sales NNS B-NP +. . O + +Concerns NNS B-NP +about IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +, , O +doubts VBZ B-NP +about IN B-PP +the DT B-NP +economy NN I-NP +in IN B-PP +general JJ B-ADJP +and CC O +rising VBG B-NP +competition NN I-NP +from IN B-PP +catalog NN B-NP +companies NNS I-NP +also RB B-ADVP +haunt VBP B-VP +store NN B-NP +operators NNS I-NP +. . O + +`` `` O +Profits NNS B-NP +at IN B-PP +Christmas NNP B-NP +could MD B-VP +be VB I-VP +under IN B-PP +attack NN B-NP +for IN B-PP +every DT B-NP +retailer NN I-NP +, , O +'' '' O +asserts VBZ B-VP +Norman NNP B-NP +Abramson NNP I-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +operating VBG I-NP +officer NN I-NP +of IN B-PP +Clothestime NNP B-NP +Inc. NNP I-NP +, , O +an DT B-NP +off-price JJ I-NP +chain NN I-NP +. . O + +Even RB B-SBAR +if IN I-SBAR +there EX B-NP +is VBZ B-VP +n't RB O +any DT B-NP +widespread JJ I-NP +discounting NN I-NP +, , O +the DT B-NP +outlook NN I-NP +for IN B-PP +industry NN B-NP +profits NNS I-NP +is VBZ B-VP +n't RB O +good JJ B-ADJP +. . O + +Management NNP B-NP +Horizons NNP I-NP +forecasts VBZ B-VP +a DT B-NP +1.4 CD I-NP +% NN I-NP +profit NN I-NP +decline NN I-NP +for IN B-PP +non-auto JJ B-NP +retailers NNS I-NP +this DT B-NP +year NN I-NP +, , O +after IN B-PP +annual JJ B-NP +drops NNS I-NP +that WDT B-NP +averaged VBD B-VP +4.5 CD B-NP +% NN I-NP +in IN B-PP +1988 CD B-NP +and CC I-NP +1987 CD I-NP +. . O + +`` `` O +For IN B-PP +the DT B-NP +last JJ I-NP +two CD I-NP +and CC I-NP +a DT I-NP +half NN I-NP +years NNS I-NP +, , O +retailing NN B-NP +has VBZ B-VP +been VBN I-VP +in IN B-PP +a DT B-NP +mild JJ I-NP +recession NN I-NP +, , O +'' '' O +says VBZ B-VP +Carl NNP B-NP +Steidtmann NNP I-NP +, , O +chief JJ B-NP +economist NN I-NP +at IN B-PP +the DT B-NP +Columbus NNP I-NP +, , I-NP +Ohio NNP I-NP +, , I-NP +consulting NN I-NP +firm NN I-NP +. . O + +This DT B-NP +year NN I-NP +, , O +many JJ B-NP +stores NNS I-NP +are VBP B-VP +entering VBG I-VP +the DT B-NP +Christmas NNP I-NP +season NN I-NP +in IN B-PP +turmoil NN B-NP +: : O +Bonwit NNP B-NP +Teller NNP I-NP +and CC I-NP +B. NNP I-NP +Altman NNP I-NP +parent NN I-NP +L.J. NNP I-NP +Hooker NNP I-NP +Corp. NNP I-NP +is VBZ B-VP +operating VBG I-VP +under IN B-PP +Chapter NN B-NP +11 CD I-NP +of IN B-PP +the DT B-NP +federal JJ I-NP +Bankruptcy NNP I-NP +Code NNP I-NP +; : O +B.A.T NNP B-NP +Industries NNP I-NP +PLC NNP I-NP +'s POS B-NP +healthy JJ O +Saks NNP O +Fifth NNP O +Avenue NNP O +and CC O +Marshall NNP B-NP +Field NNP I-NP +'s POS B-NP +chains NNS I-NP +are VBP B-VP +on IN B-PP +the DT B-NP +auction NN I-NP +block NN I-NP +; : O +Campeau NNP B-NP +'s POS B-NP +Bloomingdale NNP I-NP +'s POS B-NP +is VBZ B-VP +also RB B-ADVP +on IN B-PP +the DT B-NP +block NN I-NP +. . O + +Industry NN B-NP +observers NNS I-NP +expect VBP B-VP +a DT B-NP +wide JJ I-NP +divergence NN I-NP +in IN B-PP +performance NN B-NP +. . O + +Stores NNS B-NP +in IN B-PP +a DT B-NP +state NN I-NP +of IN B-PP +confusion NN B-NP +are VBP B-VP +likely JJ B-ADJP +to TO B-VP +fare VB I-VP +poorly RB B-ADVP +, , O +and CC O +to TO B-VP +lose VB I-VP +customers NNS B-NP +to TO B-PP +stable JJ B-NP +chains NNS I-NP +such JJ B-PP +as IN I-PP +Limited NNP B-NP +Inc. NNP I-NP +, , O +May NNP B-NP +Department NNP I-NP +Stores NNP I-NP +Co. NNP I-NP +and CC O +Dillard NNP B-NP +Department NNP I-NP +Stores NNP I-NP +Inc. NNP I-NP +, , O +which WDT B-NP +should MD B-VP +do VB I-VP +well RB B-ADVP +. . O + +`` `` O +There EX B-NP +are VBP B-VP +going VBG I-VP +to TO I-VP +be VB I-VP +very RB B-NP +clear JJ I-NP +winners NNS I-NP +and CC O +very RB B-NP +clear JJ I-NP +losers NNS I-NP +, , O +'' '' O +says VBZ B-VP +Cynthia NNP B-NP +Turk NNP I-NP +, , O +a DT B-NP +Touche NNP I-NP +Ross NNP I-NP +& CC I-NP +Co. NNP I-NP +retail JJ I-NP +consultant NN I-NP +. . O + +Says VBZ B-VP +Mr. NNP B-NP +Steidtmann NNP I-NP +: : O +`` `` O +I PRP B-NP +'m VBP B-VP +looking VBG I-VP +for IN B-PP +a DT B-NP +bi-polar JJ I-NP +Christmas NNP I-NP +. . O +'' '' O + +Economists NNS B-NP +expect VBP B-VP +general JJ B-NP +merchandise NN I-NP +sales NNS I-NP +in IN B-PP +the DT B-NP +fourth JJ I-NP +quarter NN I-NP +to TO B-VP +rise VB I-VP +4.5 CD B-NP +% NN I-NP +to TO B-PP +6 CD B-NP +% NN I-NP +from IN B-PP +year-ago JJ B-NP +figures NNS I-NP +. . O + +But CC O +Mr. NNP B-NP +Steidtmann NNP I-NP +predicts VBZ B-VP +that IN B-SBAR +healthy JJ B-NP +stores NNS I-NP +hawking VBG B-VP +mostly JJ B-NP +apparel NN I-NP +could MD B-VP +ring VB I-VP +up IN B-PRT +gains NNS B-NP +of IN B-PP +as RB B-NP +much JJ I-NP +as IN I-NP +25 CD I-NP +% NN I-NP +to TO I-NP +30 CD I-NP +% NN I-NP +. . O + +Troubled JJ B-NP +chains NNS I-NP +could MD B-VP +see VB I-VP +their PRP$ B-NP +sales NNS I-NP +drop NN B-VP +as RB B-NP +much JJ I-NP +as IN I-NP +8 CD I-NP +% NN I-NP +, , O +he PRP B-NP +believes VBZ B-VP +, , O +as IN B-SBAR +managers NNS B-NP +distracted VBN B-VP +by IN B-PP +fears NNS B-NP +about IN B-PP +the DT B-NP +future NN I-NP +allow VB B-VP +their PRP$ B-NP +stores NNS I-NP +to TO B-VP +get VB I-VP +sloppy JJ B-ADJP +. . O + +Thin JJ B-NP +merchandise NN I-NP +selections NNS I-NP +at IN B-PP +the DT B-NP +most RBS I-NP +troubled JJ I-NP +chains NNS I-NP +are VBP B-VP +also RB I-VP +expected VBN I-VP +to TO I-VP +hurt VB I-VP +sales NNS B-NP +. . O + +Catalog NN B-NP +companies NNS I-NP +are VBP B-VP +likely JJ B-ADJP +to TO B-VP +pose VB I-VP +a DT B-NP +bigger JJR I-NP +threat NN I-NP +to TO B-PP +all DT B-NP +stores VBZ I-NP +this DT B-NP +year NN I-NP +, , O +particularly RB B-ADVP +in IN B-PP +December NNP B-NP +. . O + +More RBR B-NP +than IN I-NP +200 CD I-NP +catalog NN I-NP +outfits NN I-NP +are VBP B-VP +promoting VBG I-VP +a DT B-NP +low-cost JJ I-NP +Federal NNP I-NP +Express NNP I-NP +service NN I-NP +that IN B-NP +guarantees NNS B-VP +pre-Christmas JJ B-NP +delivery NN I-NP +of IN B-PP +orders NNS B-NP +made VBN B-VP +by IN B-PP +a DT B-NP +certain JJ I-NP +date NN I-NP +. . O + +`` `` O +Traditionally RB B-ADVP +, , O +consumers NNS B-NP +were VBD B-VP +concerned VBN I-VP +about IN B-PP +ordering VBG B-VP +after IN B-PP +the DT B-NP +first JJ I-NP +of IN B-PP +December NNP B-NP +because IN B-SBAR +they PRP B-NP +did VBD B-VP +n't RB I-VP +believe VB I-VP +they PRP B-NP +would MD B-VP +get VB I-VP +it PRP B-NP +by IN B-PP +Christmas NNP B-NP +, , O +'' '' O +says VBZ B-VP +Adam NNP B-NP +Strum NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +the DT B-NP +Wine NNP I-NP +Enthusiast NNP I-NP +Inc. NNP I-NP +, , O +which WDT B-NP +sells VBZ B-VP +wine NN B-NP +cellars NNS I-NP +and CC I-NP +accessories NNS I-NP +through IN B-PP +the DT B-NP +mail NN I-NP +. . O + +Using VBG B-VP +Federal NNP B-NP +Express NNP I-NP +delivery NN I-NP +last JJ B-NP +year NN I-NP +, , O +Mr. NNP B-NP +Strum NNP I-NP +says VBZ B-VP +, , O +`` `` O +December NNP B-NP +was VBD B-VP +our PRP$ B-NP +biggest JJS I-NP +month NN I-NP +. . O +'' '' O + +Even RB B-NP +Sears NNP I-NP +, , I-NP +Roebuck NNP I-NP +& CC I-NP +Co. NNP I-NP +is VBZ B-VP +getting VBG I-VP +into IN B-PP +the DT B-NP +act NN I-NP +, , O +offering NN B-VP +for IN B-PP +the DT B-NP +first JJ I-NP +time NN I-NP +to TO B-VP +have VB I-VP +Federal NNP B-NP +Express NNP I-NP +deliver VB B-VP +toys NNS B-NP +ordered VBN B-VP +by IN B-PP +Dec. NNP B-NP +20 CD I-NP +from IN B-PP +its PRP$ B-NP +Wish VB I-NP +Book NNP I-NP +catalog NN I-NP +. . O + +K NNP B-NP +mart NNP I-NP +Corp. NNP I-NP +Chairman NNP I-NP +Joseph NNP I-NP +E. NNP I-NP +Antonini NNP I-NP +summed VBD B-VP +up IN B-PRT +his PRP$ B-NP +outlook NN I-NP +for IN B-PP +the DT B-NP +Christmas NNP I-NP +season NN I-NP +as IN B-PP +`` `` O +not RB B-ADJP +troublesome JJ I-ADJP +. . O +'' '' O + +He PRP B-NP +'s VBZ B-VP +not RB I-VP +predicting VBG I-VP +a DT B-NP +blockbuster NN I-NP +, , O +but CC O +he PRP B-NP +is VBZ B-VP +`` `` O +more RBR B-ADJP +optimistic JJ I-ADJP +than IN B-PP +three CD B-NP +months NNS I-NP +ago RB B-ADVP +'' '' O +because IN B-SBAR +employment NN B-NP +remains VBZ B-VP +strong JJ B-ADJP +and CC O +inflation NN B-NP +low JJ B-ADJP +. . O + +Other JJ B-NP +retailers NNS I-NP +are VBP B-VP +also RB I-VP +preparing VBG I-VP +for IN B-PP +a DT B-NP +ho-hum JJ I-NP +holiday NN I-NP +. . O + +Philip NNP B-NP +M. NNP I-NP +Hawley NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +Carter NNP B-NP +Hawley NNP I-NP +Hale NNP I-NP +Stores NNP I-NP +Inc. NNP I-NP +, , O +expects VBZ B-VP +sales NNS B-NP +at IN B-PP +department NN B-NP +stores NNS I-NP +open JJ B-ADJP +at IN B-NP +least JJS I-NP +a DT I-NP +year NN I-NP +to TO B-VP +rise VB I-VP +a DT B-NP +modest JJ I-NP +3 CD I-NP +% NN I-NP +to TO I-NP +5 VB I-NP +% NN I-NP +over IN B-PP +last JJ B-NP +year NN I-NP +'s POS B-NP +totals VBZ I-NP +, , O +both DT B-PP +for IN I-PP +his PRP$ B-NP +company NN I-NP +and CC O +the DT B-NP +industry NN I-NP +in IN B-PP +general NN B-NP +. . O + +`` `` O +I PRP B-NP +'m VBP B-VP +not RB I-VP +looking VBG I-VP +for IN B-PP +a DT B-NP +runaway JJ I-NP +Christmas NNP I-NP +at IN B-ADVP +all DT I-ADVP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +`` `` O +It PRP B-NP +is VBZ B-VP +n't RB O +a DT B-NP +real JJ I-NP +boom NN I-NP +holiday NN I-NP +season NN I-NP +in IN B-PP +our PRP$ B-NP +eyes NNS I-NP +, , O +'' '' O +says VBZ B-VP +Woolworth NNP B-NP +Corp. NNP I-NP +Chairman NNP I-NP +Harold NNP I-NP +E. NNP I-NP +Sells NNP I-NP +, , O +`` `` O +but CC O +it PRP B-NP +is VBZ B-VP +n't RB I-VP +going VBG I-VP +to TO I-VP +be VB I-VP +a DT B-NP +bust NN I-NP +either RB B-ADVP +. . O +'' '' O + +Mr. NNP B-NP +Sells NNP I-NP +expects VBZ B-VP +fourth-quarter JJ B-NP +sales NNS I-NP +at IN B-PP +his PRP$ B-NP +company NN I-NP +-- : O +which WDT B-NP +besides IN B-PP +Woolworth NNP B-NP +stores NNS I-NP +includes VBZ B-VP +Kinney NNP B-NP +and CC I-NP +Foot NNP I-NP +Locker NNP I-NP +shoe NN I-NP +stores NNS I-NP +and CC O +other JJ B-NP +specialty NN I-NP +chains NNS I-NP +-- : O +to TO B-VP +rise VB I-VP +`` `` O +pretty RB B-ADVP +much JJ I-ADVP +in IN B-PP +line NN B-NP +'' '' O +with IN B-PP +its PRP$ B-NP +year-to-date JJ I-NP +increases NNS I-NP +of IN B-PP +between IN B-NP +8 CD I-NP +% NN I-NP +and CC I-NP +9 CD I-NP +% NN I-NP +. . O + +The DT B-NP +estimate NN I-NP +includes VBZ B-VP +the DT B-NP +results NNS I-NP +of IN B-PP +new JJ B-NP +stores NNS I-NP +. . O + +A DT B-NP +consumer NN I-NP +poll NN I-NP +conducted VBN B-VP +in IN B-PP +early JJ B-NP +September NNP I-NP +by IN B-PP +Leo NNP B-NP +J. NNP I-NP +Shapiro NNP I-NP +& CC I-NP +Associates NNPS I-NP +, , O +a DT B-NP +market NN I-NP +researcher NN I-NP +based VBN B-VP +in IN B-PP +Chicago NNP B-NP +, , O +also RB B-ADVP +suggests VBZ B-VP +a DT B-NP +modest JJ I-NP +holiday NN I-NP +. . O + +Of IN B-PP +the DT B-NP +450 CD I-NP +survey NN I-NP +respondents NNS I-NP +, , O +35 CD B-NP +% NN I-NP +said VBD B-VP +they PRP B-NP +expect VBP B-VP +to TO I-VP +spend VB I-VP +less JJR B-NP +buying VBG B-VP +Christmas NNP B-NP +gifts NNS I-NP +this DT B-NP +year NN I-NP +than IN B-PP +last JJ B-NP +year NN I-NP +, , O +while IN B-SBAR +28 CD B-NP +% NN I-NP +said VBD B-VP +they PRP B-NP +expect VBP B-VP +to TO I-VP +spend VB I-VP +more JJR B-NP +and CC O +37 CD B-NP +% NN I-NP +said VBD B-VP +their PRP$ B-NP +gift NN I-NP +budget NN I-NP +would MD B-VP +stay VB I-VP +the DT B-NP +same JJ I-NP +. . O + +The DT B-NP +results NNS I-NP +are VBP B-VP +almost RB B-ADJP +identical JJ I-ADJP +to TO B-PP +Shapiro NNP B-NP +'s POS B-NP +September NNP I-NP +1988 CD I-NP +numbers NNS I-NP +. . O + +Retailers NNS B-NP +could MD B-VP +get VB I-VP +a DT B-NP +boost NN I-NP +this DT B-NP +year NN I-NP +from IN B-PP +the DT B-NP +calendar NN I-NP +. . O + +Christmas NNP B-NP +falls VBZ B-VP +on IN B-PP +a DT B-NP +Monday NNP I-NP +, , O +creating VBG B-VP +a DT B-NP +big JJ I-NP +last-minute JJ I-NP +weekend NN I-NP +opportunity NN I-NP +for IN B-PP +stores NNS B-NP +. . O + +Most JJS B-NP +will MD B-VP +stay VB I-VP +open JJ B-ADJP +late JJ B-ADVP +Saturday NNP B-NP +night NN I-NP +and CC O +open JJ B-VP +their PRP$ B-NP +doors NNS I-NP +again RB B-ADVP +Sunday NNP B-NP +. . O + +But CC O +many JJ B-NP +consumers NNS I-NP +probably RB B-ADVP +will MD B-VP +use VB I-VP +the DT B-NP +extra JJ I-NP +time NN I-NP +to TO B-VP +put VB I-VP +off IN B-PRT +some DT B-NP +purchasing NN I-NP +until IN B-PP +the DT B-NP +last JJ I-NP +minute NN I-NP +. . O + +`` `` O +What WP B-NP +you PRP B-NP +'ll MD B-VP +hear VB I-VP +as IN B-SBAR +we PRP B-NP +get VBP B-VP +into IN B-PP +December NNP B-NP +is VBZ B-VP +that IN B-SBAR +sales NNS B-NP +are VBP B-VP +sluggish JJ B-ADJP +, , O +'' '' O +predicts VBZ B-VP +Woolworth NNP B-NP +'s POS B-NP +Mr. NNP I-NP +Sells NNP I-NP +. . O + +`` `` O +The DT B-NP +week NN I-NP +ending VBG B-VP +the DT B-NP +24th NN I-NP +is VBZ B-VP +going VBG I-VP +to TO I-VP +save VB I-VP +the DT B-NP +entire JJ I-NP +month NN I-NP +for IN B-PP +everyone NN B-NP +. . O + +The DT B-NP +Spanish JJ I-NP +author NN I-NP +Camilo NNP I-NP +Jose NNP I-NP +Cela NNP I-NP +won VBD B-VP +the DT B-NP +Nobel NNP I-NP +Prize NNP I-NP +for IN B-PP +literature NN B-NP +yesterday NN B-NP +, , O +a DT B-NP +surprising JJ I-NP +choice NN I-NP +, , O +but CC O +given VBN B-PP +the DT B-NP +Swedish NNP I-NP +Academy NNP I-NP +'s POS B-NP +past JJ I-NP +perversities NNS I-NP +, , O +hardly RB B-ADVP +the DT B-NP +most RBS I-NP +undeserved JJ I-NP +and CC I-NP +ridiculous JJ I-NP +accolade NN I-NP +handed VBD B-VP +out IN B-PRT +by IN B-PP +the DT B-NP +awarding VBG I-NP +committee NN I-NP +. . O + +In IN B-PP +Spain NNP B-NP +, , O +anyway RB B-ADVP +, , O +the DT B-NP +73-year-old NNP I-NP +Mr. NNP I-NP +Cela NNP I-NP +enjoys VBZ B-VP +some DT B-NP +renown NN I-NP +for IN B-PP +the DT B-NP +novels NNS I-NP +and CC I-NP +travel NN I-NP +books NNS I-NP +he PRP B-NP +wrote VBD B-VP +during IN B-PP +the DT B-NP +parched VBN I-NP +Franco NNP I-NP +years NNS I-NP +, , O +the DT B-NP +everyday JJ I-NP +poverty NN I-NP +and CC O +stagnant JJ B-NP +atmosphere NN I-NP +of IN B-PP +which WDT B-NP +he PRP B-NP +described VBD B-VP +in IN B-PP +brutally RB B-NP +direct JJ I-NP +, , I-NP +vivid JJ I-NP +prose NN I-NP +, , O +beginning VBG B-VP +with IN B-PP +`` `` O +The DT B-NP +Family NNP I-NP +of IN B-PP +Pascal NNP B-NP +Duarte NNP I-NP +'' '' O +-LRB- ( O +1942 CD B-NP +-RRB- ) O +. . O + +Unlike IN B-PP +other JJ B-NP +writers NNS I-NP +who WP B-NP +either DT B-VP +battled VBD I-VP +the DT B-NP +fascists NNS I-NP +during IN B-PP +the DT B-NP +Civil NNP I-NP +War NNP I-NP +, , O +or CC O +left VBD B-VP +Spain NNP B-NP +when WRB B-ADVP +Franco NNP B-NP +triumphed VBD B-VP +, , O +Mr. NNP B-NP +Cela NNP I-NP +fought VBD B-VP +briefly NN B-ADVP +on IN B-PP +the DT B-NP +general NN I-NP +'s POS B-NP +side NN I-NP +, , O +no DT B-NP +doubt NN I-NP +earning VBG B-VP +with IN B-PP +his PRP$ B-NP +war NN I-NP +wound NN I-NP +some DT B-NP +forbearance NN I-NP +when WRB B-ADVP +he PRP B-NP +went VBD B-VP +on IN B-PRT +to TO B-VP +depict VB I-VP +a DT B-NP +country NN I-NP +with IN B-PP +a DT B-NP +high JJ I-NP +population NN I-NP +of IN B-PP +vagabonds NNS B-NP +, , O +murderers NNS B-NP +and CC O +rural JJ B-NP +idiots NNS I-NP +trudging VBG B-VP +aimlessly RB B-ADVP +through IN B-PP +a DT B-NP +dried-out JJ I-NP +land NN I-NP +. . O + +Still RB B-ADVP +, , O +it PRP B-NP +was VBD B-VP +in IN B-PP +Argentine JJ B-NP +editions NNS I-NP +that IN B-ADVP +his PRP$ B-NP +countrymen NNS I-NP +first JJ B-ADVP +read VB B-VP +his PRP$ B-NP +story NN I-NP +of IN B-PP +Pascal NNP B-NP +Duarte NNP I-NP +, , O +a DT B-NP +field NN I-NP +worker NN I-NP +who WP B-NP +stabbed VBD B-VP +his PRP$ B-NP +mother NN I-NP +to TO B-PP +death NN B-NP +and CC O +has VBZ B-VP +no DT B-NP +regrets VBZ I-NP +as IN B-SBAR +he PRP B-NP +awaits VBZ B-VP +his PRP$ B-NP +end NN I-NP +in IN B-PP +a DT B-NP +prison NN I-NP +cell NN I-NP +: : O +`` `` O +Fate NNP B-NP +directs VBZ B-VP +some DT B-NP +men NNS I-NP +down IN B-PP +the DT B-NP +flower-bordered JJ I-NP +path NN I-NP +, , O +and CC O +others NNS B-NP +down IN B-PP +the DT B-NP +road NN I-NP +bordered VBN B-VP +with IN B-PP +thistles NNS B-NP +and CC O +prickly JJ B-NP +pears NNS I-NP +. . O + +The DT B-NP +lucky JJ I-NP +ones NNS I-NP +gaze VBP B-VP +out IN B-ADVP +at IN B-PP +life NN B-NP +with IN B-PP +serene JJ B-NP +eyes NNS I-NP +and CC O +smile NN B-VP +with IN B-PP +a DT B-NP +face NN I-NP +of IN B-PP +innocence NN B-NP +at IN B-PP +their PRP$ B-NP +perfumed JJ I-NP +happiness NN I-NP +. . O + +The DT B-NP +others NNS I-NP +endure VBP B-VP +the DT B-NP +hot JJ I-NP +sun NN I-NP +of IN B-PP +the DT B-NP +plains NNS I-NP +and CC O +scowl VBP B-VP +like IN B-PP +cornered VBN B-NP +wild JJ I-NP +beasts NNS I-NP +. . O +'' '' O + +Mr. NNP B-NP +Cela NNP I-NP +himself PRP B-NP +was VBD B-VP +one CD B-NP +of IN B-PP +the DT B-NP +lucky JJ I-NP +ones NNS I-NP +, , O +his PRP$ B-NP +fortunes NNS I-NP +steadily RB B-ADVP +increasing VBG B-VP +over IN B-PP +the DT B-NP +decades NNS I-NP +he PRP B-NP +spent VBD B-VP +putting VBG B-VP +out RP B-PRT +some DT B-NP +70 CD I-NP +travelogues NNS I-NP +, , I-NP +novels NNS I-NP +, , I-NP +short JJ I-NP +story NN I-NP +collections NNS I-NP +and CC I-NP +poetry NN I-NP +. . O + +These DT B-NP +days NNS I-NP +, , O +he PRP B-NP +is VBZ B-VP +as IN B-NP +known VBN I-NP +for IN B-PP +his PRP$ B-NP +flamboyant JJ I-NP +tastes NNS I-NP +and CC O +the DT B-NP +youthful JJ I-NP +muse NN I-NP +who WP B-NP +shares VBZ B-VP +his PRP$ B-NP +life NN I-NP +as IN B-SBAR +he PRP B-NP +is VBZ B-VP +for IN B-PP +his PRP$ B-NP +books NNS I-NP +. . O + +The DT B-NP +man NN I-NP +who WP B-NP +wore VBD B-VP +out RP B-PRT +his PRP$ B-NP +shoes NNS I-NP +wandering VBG B-VP +around IN B-PP +Guadalajara NNP B-NP +in IN B-PP +1958 CD B-NP +, , O +describing VBG B-VP +in IN B-PP +his PRP$ B-NP +travel NN I-NP +book NN I-NP +`` `` O +Viaje NNP B-NP +a DT I-NP +la FW I-NP +Alcarria NNP I-NP +'' '' O +how WRB B-ADVP +he PRP B-NP +scrounged VBD B-VP +for IN B-PP +food NN B-NP +and CC O +stayed VBD B-VP +in IN B-PP +squalid JJ B-NP +inns NNS I-NP +, , O +now RB B-ADVP +tours VBZ B-VP +Spain NNP B-NP +in IN B-PP +a DT B-NP +Rolls-Royce NNP I-NP +. . O + +Of IN B-PP +his PRP$ B-NP +10 CD I-NP +novels NNS I-NP +, , O +`` `` O +The DT B-NP +Hive NNP I-NP +'' '' O +-LRB- ( O +1951 CD B-NP +-RRB- ) O +, , O +full JJ B-ADJP +of IN B-PP +sharp JJ B-NP +vignettes NNS I-NP +of IN B-PP +Madrid NNP B-NP +life NN I-NP +and CC O +centered VBN B-ADJP +on IN B-PP +a DT B-NP +cafe NN I-NP +run NN B-VP +by IN B-PP +Dona NNP B-NP +Rosa NNP I-NP +, , O +a DT B-NP +foul-mouthed JJ I-NP +, , I-NP +broad-based JJ I-NP +woman NN I-NP +with IN B-PP +blackened VBN B-NP +little JJ I-NP +teeth NNS I-NP +encrusted VBN B-VP +in IN B-PP +filth NN B-NP +, , O +used VBN B-VP +to TO I-VP +be VB I-VP +available JJ B-ADJP +in IN B-PP +English NNP B-NP +, , O +translated VBN B-VP +by IN B-PP +J.M. NNP B-NP +Cohen NNP I-NP +and CC O +published VBN B-VP +by IN B-PP +Ecco NNP B-NP +Press NNP I-NP +, , O +which WDT B-NP +now RB B-ADVP +no DT B-NP +doubt NN I-NP +regrets VBZ B-VP +relinquishing VBG I-VP +its PRP$ B-NP +copyright NN I-NP +. . O + +Here RB B-ADVP +is VBZ B-VP +an DT B-NP +excerpt NN I-NP +: : O + +The DT B-NP +lonely JJ I-NP +woman NN I-NP +walks VBZ B-VP +on IN B-PRT +in IN B-PP +the DT B-NP +direction NN I-NP +of IN B-PP +the DT B-NP +Plaza NNP I-NP +de FW I-NP +Alonso NNP I-NP +Martinez NNP I-NP +. . O + +Two CD B-NP +men NNS I-NP +have VBP B-VP +a DT B-NP +conversation NN I-NP +behind IN B-PP +one CD B-NP +of IN B-PP +the DT B-NP +windows NNS I-NP +of IN B-PP +the DT B-NP +cafe NN I-NP +on IN B-PP +the DT B-NP +corner NN I-NP +of IN B-PP +the DT B-NP +boulevard NN I-NP +. . O + +Both DT B-NP +are VBP B-VP +young JJ B-ADJP +, , O +one CD B-NP +twenty CD B-ADJP +odd JJ I-ADJP +, , O +the DT B-NP +other JJ I-NP +thirty CD B-ADJP +odd JJ I-ADJP +. . O + +The DT B-NP +older JJR I-NP +one CD I-NP +looks VBZ B-VP +like IN B-PP +a DT B-NP +member NN I-NP +of IN B-PP +the DT B-NP +jury NN I-NP +for IN B-PP +a DT B-NP +literary JJ I-NP +award NN I-NP +, , O +the DT B-NP +younger JJR I-NP +one CD I-NP +looks VBZ B-VP +like IN B-PP +a DT B-NP +novelist NN I-NP +. . O + +It PRP B-NP +is VBZ B-VP +evident JJ B-ADJP +that IN B-SBAR +their PRP$ B-NP +conversation NN I-NP +runs VBZ B-VP +more JJR B-ADVP +or CC I-ADVP +less JJR I-ADVP +on IN B-PP +the DT B-NP +following VBG I-NP +lines NNS I-NP +: : O +`` `` O +I PRP B-NP +'ve VBP B-VP +submitted VBN I-VP +the DT B-NP +manuscript NN I-NP +of IN B-PP +my PRP$ B-NP +novel NN I-NP +under IN B-PP +the DT B-NP +title NN I-NP +` `` O +Teresa NNP B-NP +de FW I-NP +Cepeda NNP I-NP +, , O +' POS O +and CC O +in IN B-PP +it PRP B-NP +I PRP B-NP +'ve VBP B-VP +treated VBN I-VP +a DT B-NP +few RB I-NP +neglected VBN I-NP +aspects NNS I-NP +of IN B-PP +that DT B-NP +eternal JJ I-NP +problem NN I-NP +which WDT B-NP +... : O +'' '' O + +`` `` B-INTJ +Oh UH I-INTJ +, , I-INTJ +yes UH I-INTJ +. . O + +Will MD O +you PRP B-NP +pour VB B-VP +me PRP B-NP +a DT B-NP +drop NN I-NP +of IN B-PP +water NN B-NP +, , O +if IN B-SBAR +you PRP B-NP +do VBP B-VP +n't RB I-VP +mind VB I-VP +? . O +'' '' O + +`` `` B-PP +With IN I-PP +pleasure NN B-NP +. . O + +I PRP B-NP +'ve VBP B-VP +revised VBN I-VP +it PRP B-NP +several JJ B-NP +times NNS I-NP +and CC O +I PRP B-NP +think VBP B-VP +I PRP B-NP +may MD B-VP +say VB I-VP +with IN B-PP +pride NN B-NP +that IN B-SBAR +there EX B-NP +is VBZ B-VP +not RB O +a DT B-NP +single JJ I-NP +discordant JJ I-NP +word NN I-NP +in IN B-PP +the DT B-NP +whole JJ I-NP +text NN I-NP +. . O +'' '' O + +`` `` B-ADVP +How WRB I-ADVP +interesting JJ O +. . O +'' '' O + +`` `` O +I PRP B-NP +think VBP B-VP +so RB B-ADVP +. . O + +I PRP B-NP +do VBP B-VP +n't RB I-VP +know VB I-VP +the DT B-NP +quality NN I-NP +of IN B-PP +the DT B-NP +works NNS I-NP +my PRP$ B-NP +colleagues NNS I-NP +have VBP B-VP +sent VBN I-VP +in IN B-PP +, , O +but CC O +in IN B-PP +any DT B-NP +case NN I-NP +I PRP B-NP +feel VBP B-VP +confident JJ B-ADJP +that IN B-SBAR +good JJ B-NP +sense NN I-NP +and CC O +honest JJ B-NP +judgment NN I-NP +... : O +'' '' O + +`` `` O +Rest VB B-VP +assured VBN B-ADJP +, , O +we PRP B-NP +proceed VBP B-VP +with IN B-PP +exemplary JJ B-NP +fairness NN I-NP +. . O +'' '' O + +`` `` O +I PRP B-NP +do VBP B-VP +n't RB I-VP +doubt VB I-VP +it PRP B-NP +for IN B-PP +a DT B-NP +moment NN I-NP +. . O + +It PRP B-NP +does VBZ B-VP +not RB I-VP +matter VB I-VP +if IN B-SBAR +one CD B-NP +is VBZ B-VP +defeated VBN I-VP +, , O +provided VBD O +the DT B-NP +work NN I-NP +that WDT B-NP +gets VBZ B-VP +the DT B-NP +award NN I-NP +has VBZ B-VP +unmistakable JJ B-NP +qualities NNS I-NP +. . O + +What WP B-NP +'s VBZ B-VP +so RB B-ADJP +discouraging VBG I-ADJP +is VBZ B-VP +... : O +'' '' O + +In IN B-PP +passing VBG B-VP +the DT B-NP +window NN I-NP +, , O +Senorita NNP B-NP +Elvira NNP I-NP +gives VBZ B-VP +them PRP B-NP +a DT B-NP +smile NN I-NP +-- : O +simply RB B-ADVP +out IN B-PP +of IN B-PP +habit NN B-NP +. . O + +Ashland NNP B-NP +Oil NNP I-NP +Inc. NNP I-NP +said VBD B-VP +it PRP B-NP +will MD B-VP +take VB I-VP +after-tax JJ B-NP +charges NNS I-NP +of IN B-PP +$ $ B-NP +78 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.40 CD I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +its PRP$ B-NP +fiscal JJ I-NP +fourth JJ I-NP +quarter NN I-NP +, , O +ended VBN B-VP +Sept. NNP B-NP +30 CD I-NP +. . O + +Because IN B-PP +of IN I-PP +the DT B-NP +charge NN I-NP +, , O +Ashland NNP B-NP +expects VBZ B-VP +to TO I-VP +report VB I-VP +a DT B-NP +loss NN I-NP +for IN B-PP +the DT B-NP +fourth JJ I-NP +quarter NN I-NP +and CC O +`` `` O +significantly RB B-NP +lower JJR I-NP +results NNS I-NP +'' '' O +for IN B-PP +fiscal JJ B-NP +1989 CD I-NP +. . O + +The DT B-NP +oil NN I-NP +refiner NN I-NP +said VBD B-VP +it PRP B-NP +will MD B-VP +report VB I-VP +fiscal JJ B-NP +fourth JJ I-NP +quarter NN I-NP +and CC I-NP +1989 CD I-NP +results NNS I-NP +next JJ B-NP +week NN I-NP +. . O + +The DT B-NP +company NN I-NP +earned VBD B-VP +$ $ B-NP +66 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.19 CD I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +revenue NN B-NP +of IN B-PP +$ $ B-NP +2.1 CD I-NP +billion CD I-NP +in IN B-PP +the DT B-NP +year-ago JJ I-NP +fourth JJ I-NP +quarter NN I-NP +. . O + +For IN B-PP +fiscal JJ B-NP +1988 CD I-NP +, , O +Ashland NNP B-NP +had VBD B-VP +net NN B-NP +of IN B-PP +$ $ B-NP +224 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +4.01 CD I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +revenue NN B-NP +of IN B-PP +$ $ B-NP +7.8 CD I-NP +billion CD I-NP +. . O + +Both DT B-NP +revenue NN I-NP +figures NNS I-NP +exclude VBP B-VP +excise NN B-NP +taxes NNS I-NP +. . O + +The DT B-NP +charges NNS I-NP +consist VBP B-VP +of IN B-PP +: : O +a DT B-NP +$ $ I-NP +25 CD I-NP +million CD I-NP +after-tax JJ I-NP +charge NN I-NP +to TO B-VP +cover VB I-VP +cost NN B-NP +overruns NNS I-NP +in IN B-PP +Ashland NNP B-NP +'s POS B-NP +Riley NNP I-NP +Consolidated NNP I-NP +subsidiary NN I-NP +; : O +a DT B-NP +previously RB I-NP +announced VBN I-NP +$ $ I-NP +38 CD I-NP +million CD I-NP +after-tax JJ I-NP +charge NN I-NP +resulting VBG B-VP +from IN B-PP +a DT B-NP +$ $ I-NP +325 CD I-NP +million CD I-NP +settlement NN I-NP +with IN B-PP +National NNP B-NP +Iranian NNP I-NP +Oil NNP I-NP +Co. NNP I-NP +and CC O +a DT B-NP +$ $ I-NP +15 CD I-NP +million CD I-NP +after-tax JJ I-NP +charge NN I-NP +from IN B-PP +the DT B-NP +previously RB I-NP +announced VBN I-NP +sale NN I-NP +of IN B-PP +its PRP$ B-NP +Ashland NNP I-NP +Technology NNP I-NP +Corp. NNP I-NP +subsidiary NN I-NP +. . O + +Ashland NNP B-NP +expects VBZ B-VP +that DT B-NP +sale NN I-NP +to TO B-VP +be VB I-VP +complete JJ B-ADJP +next JJ B-NP +year NN I-NP +. . O + +The DT B-NP +charge NN I-NP +for IN B-PP +the DT B-NP +Riley NNP I-NP +subsidiary NN I-NP +is VBZ B-VP +for IN B-PP +expected VBN B-NP +costs NNS I-NP +to TO B-VP +correct VB I-VP +problems NNS B-NP +with IN B-PP +certain JJ B-NP +bed NN I-NP +boilers NNS I-NP +built VBN B-VP +for IN B-PP +utilities NNS B-NP +. . O + +The DT B-NP +charge NN I-NP +will MD B-VP +be VB I-VP +added VBN I-VP +to TO B-PP +$ $ B-NP +20 CD I-NP +million CD I-NP +in IN B-PP +reserves NNS B-NP +established VBD B-VP +a DT B-NP +year NN I-NP +ago RB B-ADVP +to TO B-VP +cover VB I-VP +the DT B-NP +cost NN I-NP +overruns NNS I-NP +. . O + +When WRB B-ADVP +President NNP B-NP +Bush NNP I-NP +arrives VBZ B-VP +here RB B-ADVP +next JJ B-NP +week NN I-NP +for IN B-PP +a DT B-NP +hemispheric JJ I-NP +summit NN I-NP +organized VBN B-VP +to TO B-VP +commemorate VB I-VP +a DT B-NP +century NN I-NP +of IN B-PP +Costa NNP B-NP +Rican JJ I-NP +democracy NN I-NP +, , O +will MD O +he PRP B-NP +be VB B-VP +able JJ B-ADJP +to TO B-VP +deliver VB I-VP +a DT B-NP +credible JJ I-NP +message NN I-NP +in IN B-PP +the DT B-NP +wake NN I-NP +of IN B-PP +the DT B-NP +Panamanian JJ I-NP +fiasco NN I-NP +? . O + +Undoubtedly RB B-ADVP +Mr. NNP B-NP +Bush NNP I-NP +will MD B-VP +be VB I-VP +praised VBN I-VP +by IN B-PP +some DT B-NP +Latin NNP I-NP +leaders NNS I-NP +prone JJ B-ADJP +to TO B-VP +pay VB I-VP +lip NN B-NP +service NN I-NP +to TO B-PP +nonintervention NN B-NP +, , O +while IN B-SBAR +they PRP B-NP +privately RB B-ADVP +encourage VBP B-VP +more RBR B-NP +assertive JJ I-NP +U.S. NNP I-NP +action NN I-NP +to TO B-VP +remove VB I-VP +Gen. NNP B-NP +Manuel NNP I-NP +Noriega NNP I-NP +and CC O +safeguard VB B-VP +their PRP$ B-NP +countries NNS I-NP +from IN B-PP +a DT B-NP +Sandinista NNP I-NP +onslaught NN I-NP +. . O + +The DT B-NP +Panamanian JJ I-NP +affair NN I-NP +is VBZ B-VP +only RB B-NP +the DT I-NP +tip NN I-NP +of IN B-PP +a DT B-NP +more RBR I-NP +alarming JJ I-NP +iceberg NN I-NP +. . O + +It PRP B-NP +originates VBZ B-VP +in IN B-PP +a DT B-NP +Bush NNP I-NP +administration NN I-NP +decision NN I-NP +not RB O +to TO B-VP +antagonize VB I-VP +the DT B-NP +U.S. NNP I-NP +Congress NNP I-NP +and CC O +avoid VB B-VP +, , O +at IN B-PP +all DT B-NP +costs NNS I-NP +, , O +being VBG B-VP +accused VBN I-VP +of IN B-PP +meddling VBG B-VP +in IN B-PP +the DT B-NP +region NN I-NP +. . O + +The DT B-NP +result NN I-NP +has VBZ B-VP +been VBN I-VP +a DT B-NP +dangerous JJ I-NP +vacuum NN I-NP +of IN B-PP +U.S. NNP B-NP +leadership NN I-NP +, , O +which WDT B-NP +leaves VBZ B-VP +Central NNP B-NP +America NNP I-NP +open JJ B-ADJP +to TO B-PP +Soviet JJ B-NP +adventurism NN I-NP +. . O + +`` `` O +The DT B-NP +-LCB- ( I-NP +influence NN I-NP +of IN B-PP +the DT B-NP +-RCB- ) I-NP +U.S. NNP I-NP +is VBZ B-VP +not RB I-VP +being VBG I-VP +felt VBN I-VP +in IN B-PP +Central NNP B-NP +America NNP I-NP +; : O +Washington NNP B-NP +'s POS B-NP +decisions NNS I-NP +do VBP B-VP +not RB I-VP +respond VB I-VP +to TO B-PP +a DT B-NP +policy NN I-NP +, , O +and CC O +are VBP B-VP +divorced VBN I-VP +from IN B-PP +reality NN B-NP +, , O +'' '' O +says VBZ B-VP +Fernando NNP B-NP +Volio NNP I-NP +, , O +a DT B-NP +Costa NNP I-NP +Rican JJ I-NP +congressman NN I-NP +and CC O +former JJ B-NP +foreign JJ I-NP +minister NN I-NP +. . O + +The DT B-NP +disarray NN I-NP +of IN B-PP +the DT B-NP +Bush NNP I-NP +administration NN I-NP +'s POS B-NP +Latin NNP I-NP +diplomacy NN I-NP +was VBD B-VP +evident JJ B-ADJP +in IN B-PP +the DT B-NP +failure NN I-NP +of IN B-PP +the DT B-NP +Organization NNP I-NP +of IN B-PP +American NNP B-NP +States NNPS I-NP +to TO B-VP +condemn VB I-VP +categorically RB B-ADVP +Gen. NNP B-NP +Noriega NNP I-NP +. . O + +Faced VBN B-VP +with IN B-PP +this DT B-NP +embarrassment NN I-NP +, , O +U.S. NNP B-NP +diplomats NNS I-NP +expressed VBD B-VP +confidence NN B-NP +that IN B-SBAR +the DT B-NP +influential JJ I-NP +Rio NNP I-NP +Group NNP I-NP +of IN B-PP +South JJ B-NP +American JJ I-NP +nations NNS I-NP +, , O +which WDT B-NP +gathered VBD B-VP +last JJ B-NP +week NN I-NP +in IN B-PP +Peru NNP B-NP +, , O +would MD B-VP +take VB I-VP +a DT B-NP +stronger JJR I-NP +posture NN I-NP +toward IN B-PP +the DT B-NP +Panamanian JJ I-NP +dictator NN I-NP +. . O + +But CC O +other JJ B-ADVP +than IN B-PP +a DT B-NP +few JJ I-NP +slaps NNS I-NP +on IN B-PP +the DT B-NP +wrist NN I-NP +, , O +Gen. NNP B-NP +Noriega NNP I-NP +went VBD B-VP +unpunished JJ B-ADJP +by IN B-PP +that DT B-NP +body NN I-NP +, , O +too RB B-ADVP +; : O +he PRP B-NP +was VBD B-VP +not RB I-VP +even RB I-VP +singled VBD I-VP +out IN B-PRT +in IN B-PP +the DT B-NP +closing VBG I-NP +statement NN I-NP +. . O + +Now RB B-ADVP +Mr. NNP B-NP +Bush NNP I-NP +will MD B-VP +come VB I-VP +to TO B-PP +Costa NNP B-NP +Rica NNP I-NP +and CC O +encounter NN B-VP +Nicaraguan JJ B-NP +strongman NN I-NP +Daniel NNP I-NP +Ortega NNP I-NP +, , O +eager JJ B-ADJP +for IN B-PP +photo NN B-NP +opportunities NNS I-NP +with IN B-PP +the DT B-NP +U.S. NNP I-NP +president NN I-NP +. . O + +The DT B-NP +host NN I-NP +, , O +Costa NNP B-NP +Rican NNP I-NP +President NNP I-NP +Oscar NNP I-NP +Arias NNP I-NP +, , O +did VBD B-VP +not RB I-VP +invite VB I-VP +Chile NNP B-NP +, , I-NP +Cuba NNP I-NP +, , I-NP +Panama NNP I-NP +or CC I-NP +Haiti NNP I-NP +to TO B-PP +the DT B-NP +summit NN I-NP +, , O +which WDT B-NP +was VBD B-VP +to TO I-VP +be VB I-VP +restricted VBN I-VP +to TO B-PP +democracies NNS B-NP +. . O + +However RB B-ADVP +, , O +Mr. NNP B-NP +Ortega NNP I-NP +was VBD B-VP +included VBN I-VP +. . O + +Formally RB B-ADVP +upgrading VBG B-VP +the DT B-NP +Sandinistas NNPS I-NP +to TO B-PP +a DT B-NP +democratic JJ I-NP +status NN I-NP +was VBD B-VP +an DT B-NP +initiative NN I-NP +harshly RB B-VP +criticized VBD I-VP +in IN B-PP +the DT B-NP +Costa NNP I-NP +Rican JJ I-NP +press NN I-NP +. . O + +Even RB B-NP +Carlos NNP I-NP +Manuel NNP I-NP +Castillo NNP I-NP +-- : O +the DT B-NP +presidential JJ I-NP +candidate NN I-NP +for IN B-PP +Mr. NNP B-NP +Arias NNP I-NP +'s POS B-NP +National NNP I-NP +Liberation NNP I-NP +Party NNP I-NP +-- : O +made VBN B-VP +public JJ B-ADJP +his PRP$ B-NP +opposition NN I-NP +to TO B-PP +the DT B-NP +presence NN I-NP +of IN B-PP +Nicaragua NNP B-NP +`` `` O +in IN B-PP +a DT B-NP +democratic JJ I-NP +festivity NN I-NP +. . O +'' '' O + +Nevertheless RB B-ADVP +, , O +the DT B-NP +Bush NNP I-NP +administration NN I-NP +agreed VBD B-VP +to TO B-PP +the DT B-NP +dubious JJ I-NP +arrangement NN I-NP +in IN B-PP +July NNP B-NP +, , O +a DT B-NP +few JJ I-NP +weeks NNS I-NP +before IN B-SBAR +the DT B-NP +Central NNP I-NP +American JJ I-NP +presidents NNS I-NP +met VBD B-VP +in IN B-PP +Tela NNP B-NP +, , O +Honduras NNP B-NP +, , O +to TO B-VP +discuss VB I-VP +a DT B-NP +timetable NN I-NP +for IN B-PP +disbanding VBG B-VP +the DT B-NP +anti-Sandinista JJ I-NP +rebels NNS I-NP +. . O + +According VBG B-PP +to TO B-PP +officials NNS B-NP +in IN B-PP +Washington NNP B-NP +, , O +the DT B-NP +State NNP I-NP +Department NNP I-NP +hoped VBD B-VP +that IN B-SBAR +by IN B-PP +pleasing JJ B-VP +President NNP B-NP +Arias NNP I-NP +, , O +it PRP B-NP +would MD B-VP +gain VB I-VP +his PRP$ B-NP +support NN I-NP +to TO B-VP +postpone VB I-VP +any DT B-NP +decision NN I-NP +on IN B-PP +the DT B-NP +Contras NNPS I-NP +until IN B-PP +after IN B-SBAR +Mr. NNP B-NP +Ortega NNP I-NP +'s POS B-NP +promises NNS I-NP +of IN B-PP +democratic JJ B-NP +elections NNS I-NP +were VBD B-VP +tested VBN I-VP +next JJ B-NP +February NNP I-NP +. . O + +However RB B-ADVP +, , O +relying VBG B-VP +on IN B-PP +an DT B-NP +ardent JJ I-NP +critic NN I-NP +of IN B-PP +the DT B-NP +Reagan NNP I-NP +administration NN I-NP +and CC O +the DT B-NP +Contra NNP I-NP +movement NN I-NP +for IN B-PP +help NN B-NP +in IN B-PP +delaying VBG B-VP +the DT B-NP +disarming VBG I-NP +of IN B-PP +the DT B-NP +Contras NNPS I-NP +was VBD B-VP +risky JJ B-NP +business NN I-NP +. . O + +And CC O +even RB B-NP +some DT I-NP +last-minute JJ I-NP +phone NN I-NP +calls NNS I-NP +that IN B-NP +Mr. NNP B-NP +Bush NNP I-NP +made VBD B-VP +-LRB- ( O +at IN B-PP +the DT B-NP +behest NN I-NP +of IN B-PP +some DT B-NP +conservative JJ I-NP +U.S. NNP I-NP +senators NNS I-NP +-RRB- ) O +to TO B-VP +enlist VB I-VP +backing VBG B-NP +for IN B-PP +the DT B-NP +U.S. NNP I-NP +position NN I-NP +failed VBD B-VP +to TO I-VP +stop VB I-VP +the DT B-NP +march NN I-NP +of IN B-PP +Mr. NNP B-NP +Arias NNP I-NP +'s POS B-NP +agenda NN I-NP +. . O + +Prior RB B-ADVP +to TO B-PP +this DT B-NP +episode NN I-NP +, , O +Sen. NNP B-NP +Christopher NNP I-NP +Dodd NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Conn. NNP B-NP +-RRB- ) O +, , O +sensing VBG B-VP +an DT B-NP +open JJ I-NP +field NN I-NP +, , O +undertook VBD B-VP +a DT B-NP +personal JJ I-NP +diplomatic JJ I-NP +mission NN I-NP +through IN B-PP +Central NNP B-NP +America NNP I-NP +to TO B-VP +promote VB I-VP +an DT B-NP +early JJ I-NP +disbanding NN I-NP +of IN B-PP +the DT B-NP +rebels NNS I-NP +. . O + +Visiting VBG B-VP +Nicaragua NNP B-NP +, , O +he PRP B-NP +praised VBD B-VP +the DT B-NP +Sandinistas NNPS I-NP +for IN B-PP +their PRP$ B-NP +electoral JJ I-NP +system NN I-NP +and CC O +chided VBD B-VP +the DT B-NP +Bush NNP I-NP +administration NN I-NP +for IN B-PP +not RB O +rewarding JJ B-VP +the DT B-NP +Sandinistas NNPS I-NP +. . O + +In IN B-PP +Honduras NNP B-NP +, , O +where WRB B-ADVP +the DT B-NP +Contras NNPS I-NP +are VBP B-VP +a DT B-NP +hot JJ I-NP +political JJ I-NP +issue NN I-NP +, , O +he PRP B-NP +promised VBD B-VP +to TO I-VP +help VB I-VP +unblock VB I-VP +some DT B-NP +$ $ I-NP +70 CD I-NP +million CD I-NP +in IN B-PP +assistance NN B-NP +withheld VBD B-VP +due JJ B-PP +to TO I-PP +the DT B-NP +failure NN I-NP +of IN B-PP +local JJ B-NP +agencies NNS I-NP +to TO B-VP +comply VB I-VP +with IN B-PP +conditions NNS B-NP +agreed VBD B-VP +upon IN B-PP +with IN B-PP +Washington NNP B-NP +. . O + +Aid NNP B-NP +was VBD B-VP +also RB B-ADVP +the DT B-NP +gist NN I-NP +of IN B-PP +the DT B-NP +talks NNS I-NP +Sen. NNP B-NP +Dodd NNP I-NP +had VBD B-VP +with IN B-PP +Salvadoran NNP B-NP +President NNP I-NP +Alfredo NNP I-NP +Cristiani NNP I-NP +; : O +Mr. NNP B-NP +Cristiani NNP I-NP +'s POS B-NP +government NN I-NP +is VBZ B-VP +very RB B-ADVP +much RB I-ADVP +at IN B-PP +the DT B-NP +mercy NN I-NP +of IN B-PP +U.S. NNP B-NP +largess NN I-NP +and CC O +is VBZ B-VP +forced VBN I-VP +to TO I-VP +listen VB I-VP +very RB B-ADVP +carefully RB I-ADVP +to TO B-PP +Sen. NNP B-NP +Dodd NNP I-NP +'s POS B-NP +likes VBZ I-NP +and CC I-NP +dislikes VBZ I-NP +. . O + +It PRP B-NP +was VBD B-VP +therefore RB B-ADVP +not RB B-ADJP +surprising JJ I-ADJP +that WDT B-SBAR +close VBP B-NP +allies NNS I-NP +of IN B-PP +the DT B-NP +U.S. NNP I-NP +, , O +virtually RB B-VP +neglected VBN I-VP +by IN B-PP +the DT B-NP +Bush NNP I-NP +administration NN I-NP +, , O +ordered VBD B-VP +the DT B-NP +Nicaraguan JJ I-NP +insurgents NNS I-NP +dismantled VBN B-VP +by IN B-PP +December NNP B-NP +, , O +long RB B-ADVP +before IN B-PP +the DT B-NP +elections NNS I-NP +. . O + +Fittingly RB B-ADVP +, , O +the DT B-NP +Tela NNP I-NP +Accords NNPS I-NP +were VBD B-VP +nicknamed VBN I-VP +by IN B-PP +Hondurans NNS B-NP +`` `` O +the DT B-NP +Dodd NNP I-NP +plan NN I-NP +. . O +'' '' O + +The DT B-NP +individual JJ I-NP +foreign JJ I-NP +policy NN I-NP +carried VBD B-VP +out IN B-PRT +by IN B-PP +U.S. NNP B-NP +legislators NNS I-NP +adds VBZ B-VP +to TO B-PP +a DT B-NP +confusing JJ I-NP +U.S. NNP I-NP +performance NN I-NP +that WDT B-NP +has VBZ B-VP +emboldened VBN I-VP +Soviet JJ B-NP +initiatives NNS I-NP +in IN B-PP +Central NNP B-NP +America NNP I-NP +. . O + +On IN B-PP +Oct. NNP B-NP +3 CD I-NP +, , O +following VBG B-PP +conversations NNS B-NP +with IN B-PP +Secretary NNP O +of IN B-PP +State NNP B-NP +James NNP B-NP +Baker NNP I-NP +, , O +Soviet NNP B-NP +Foreign NNP I-NP +Minister NNP I-NP +Eduard NNP I-NP +Shevardnadze NNP I-NP +arrived VBD B-VP +in IN B-PP +Managua NNP B-NP +to TO B-VP +acclaim VB I-VP +`` `` O +Nicaragua NNP B-NP +'s POS B-NP +great JJ I-NP +peace NN I-NP +efforts NNS I-NP +. . O +'' '' O + +There EX B-ADVP +, , O +Mr. NNP B-NP +Shevardnadze NNP I-NP +felt VBD B-VP +legitimized VBN I-VP +to TO I-VP +unveil VB I-VP +his PRP$ B-NP +own JJ I-NP +peace NN I-NP +plan NN I-NP +: : O +The DT B-NP +U.S.S.R. NNP I-NP +would MD B-VP +prolong VB I-VP +a DT B-NP +suspension NN I-NP +of IN B-PP +arms NNS B-NP +shipments NNS I-NP +to TO B-PP +Nicaragua NNP B-NP +after IN B-PP +the DT B-NP +February NNP I-NP +election NN I-NP +if IN B-SBAR +the DT B-NP +U.S. NNP I-NP +did VBD B-VP +likewise RB B-ADVP +with IN B-PP +its PRP$ B-NP +allies NNS I-NP +in IN B-PP +Central NNP B-NP +America NNP I-NP +. . O + +He PRP B-NP +also RB B-ADVP +called VBD B-VP +on IN B-PP +Nicaragua NNP B-NP +'s POS B-NP +neighbors NNS I-NP +to TO B-VP +accept VB I-VP +a DT B-NP +`` `` I-NP +military JJ I-NP +equilibrium NN I-NP +'' '' O +guaranteed VBN B-VP +by IN B-PP +both DT B-NP +superpowers NNS I-NP +. . O + +The DT B-NP +Pentagon NNP I-NP +claims NNS B-VP +that IN B-SBAR +in IN B-PP +spite NN B-NP +of IN B-PP +Moscow NNP B-NP +'s POS B-NP +words NNS I-NP +, , O +East NNP B-NP +bloc NN I-NP +weapons NNS I-NP +continue VBP B-VP +to TO I-VP +flow VB I-VP +into IN B-PP +Nicaragua NNP B-NP +through IN B-PP +Cuba NNP B-NP +at IN B-PP +near-record JJ B-NP +levels NNS I-NP +. . O + +Since IN B-SBAR +Mr. NNP B-NP +Shevardnadze NNP I-NP +'s POS B-NP +proposals NNS I-NP +followed VBD B-VP +discussions NNS B-NP +with IN B-PP +Mr. NNP B-NP +Baker NNP I-NP +, , O +speculations NNS B-NP +arose VBD B-VP +that IN B-SBAR +the DT B-NP +Bush NNP I-NP +administration NN I-NP +was VBD B-VP +seeking VBG I-VP +an DT B-NP +accommodation NN I-NP +with IN B-PP +the DT B-NP +Soviets NNPS I-NP +in IN B-PP +Central NNP B-NP +America NNP I-NP +. . O + +This DT B-NP +scheme NN I-NP +would MD B-VP +fit VB I-VP +the DT B-NP +Arias NNP I-NP +Plan NNP I-NP +, , O +which WDT B-NP +declared VBD B-VP +a DT B-NP +false JJ I-NP +symmetry NN I-NP +between IN B-PP +Soviet JJ B-NP +military JJ I-NP +aid NN I-NP +to TO B-PP +the DT B-NP +Sandinista NNP I-NP +dictatorship NN I-NP +and CC O +that DT B-NP +provided VBD B-VP +by IN B-PP +Washington NNP B-NP +to TO B-PP +freely RB B-NP +elected VBN I-NP +governments NNS I-NP +. . O + +Furthermore RB B-ADVP +, , O +it PRP B-NP +is VBZ B-VP +also RB B-ADVP +likely JJ B-ADJP +to TO B-VP +encourage VB I-VP +those DT B-NP +on IN B-PP +Capitol NNP B-NP +Hill NNP I-NP +asking VBG B-VP +for IN B-PP +cuts NNS B-NP +in IN B-PP +the DT B-NP +assistance NN I-NP +to TO B-PP +El NNP B-NP +Salvador NNP I-NP +if IN B-SBAR +President NNP B-NP +Cristiani NNP I-NP +does VBZ B-VP +not RB I-VP +bend VB I-VP +to TO B-PP +demands NNS B-NP +of IN B-PP +the DT B-NP +Marxist JJ I-NP +guerrillas NNS I-NP +. . O + +The DT B-NP +sad JJ I-NP +condition NN I-NP +of IN B-PP +U.S. NNP B-NP +policy NN I-NP +in IN B-PP +Central NNP B-NP +America NNP I-NP +is VBZ B-VP +best RBS I-VP +depicted VBN I-VP +by IN B-PP +the DT B-NP +recent JJ I-NP +end NN I-NP +to TO B-PP +U.S. NNP B-NP +sponsorship NN I-NP +of IN B-PP +Radio NNP B-NP +Costa NNP I-NP +Rica NNP I-NP +. . O + +In IN B-PP +1984 CD B-NP +, , O +the DT B-NP +Costa NNP I-NP +Rican JJ I-NP +government NN I-NP +requested VBD B-VP +help VB B-NP +to TO B-VP +establish VB I-VP +a DT B-NP +radio NN I-NP +station NN I-NP +in IN B-PP +the DT B-NP +northern JJ I-NP +part NN I-NP +of IN B-PP +the DT B-NP +country NN I-NP +, , O +flooded VBN B-VP +by IN B-PP +airwaves NNS B-NP +of IN B-PP +Sandinista NNP B-NP +propaganda NN I-NP +. . O + +Recovering VBG B-VP +radiophonic JJ B-NP +sovereignty NN I-NP +was VBD B-VP +the DT B-NP +purpose NN I-NP +of IN B-PP +Radio NNP B-NP +Costa NNP I-NP +Rica NNP I-NP +, , O +funded VBN B-VP +by IN B-PP +the DT B-NP +U.S. NNP I-NP +and CC O +affiliated VBN B-VP +with IN B-PP +the DT B-NP +Voice NNP I-NP +of IN B-PP +America NNP B-NP +-LRB- ( O +VOA NNP B-NP +-RRB- ) O +. . O + +A DT B-NP +few JJ I-NP +months NNS I-NP +ago RB B-ADVP +, , O +the DT B-NP +Bush NNP I-NP +administration NN I-NP +decided VBD B-VP +to TO I-VP +stop VB I-VP +this DT B-NP +cooperation NN I-NP +, , O +leaving VBG B-VP +Radio NNP B-NP +Costa NNP I-NP +Rica NNP I-NP +operating VBG B-VP +on IN B-PP +a DT B-NP +shoestring NN I-NP +. . O + +According VBG B-PP +to TO B-PP +news NN B-NP +reports NNS I-NP +, , O +the DT B-NP +abrupt JJ I-NP +termination NN I-NP +was VBD B-VP +due JJ B-ADJP +to TO B-PP +fears NNS B-NP +that IN B-SBAR +VOA NNP B-NP +transmissions NNS I-NP +could MD B-VP +interfere VB I-VP +with IN B-PP +the DT B-NP +peace NN I-NP +process NN I-NP +. . O + +In IN B-PP +the DT B-NP +meantime NN I-NP +, , O +Russia NNP B-NP +gave VBD B-VP +Nicaragua NNP B-NP +another DT B-NP +powerful JJ I-NP +radio NN I-NP +transmitter NN I-NP +, , O +which WDT B-NP +has VBZ B-VP +been VBN I-VP +installed VBN I-VP +in IN B-PP +the DT B-NP +city NN I-NP +of IN B-PP +Esteli NNP B-NP +. . O + +It PRP B-NP +is VBZ B-VP +capable JJ B-ADJP +of IN B-PP +reaching VBG B-VP +the DT B-NP +entire JJ I-NP +Caribbean NNP I-NP +area NN I-NP +and CC O +deep JJ B-ADVP +into IN B-PP +North NNP B-NP +America NNP I-NP +. . O + +Perhaps RB B-ADVP +its PRP$ B-NP +loud JJ I-NP +signal NN I-NP +may MD B-VP +generate VB I-VP +some DT B-NP +awareness NN I-NP +of IN B-PP +the DT B-NP +Soviet JJ I-NP +condominium NN I-NP +being VBG B-VP +created VBN I-VP +in IN B-PP +the DT B-NP +isthmus NN I-NP +thanks NNS B-ADVP +to TO B-PP +U.S. NNP B-NP +default NN I-NP +. . O + +The DT B-NP +Soviet JJ I-NP +entrenchment NN I-NP +in IN B-PP +Nicaragua NNP B-NP +is VBZ B-VP +alarming JJ B-ADJP +for IN B-PP +Costa NNP B-NP +Rica NNP I-NP +, , O +a DT B-NP +peaceful JJ I-NP +democracy NN I-NP +without IN B-PP +an DT B-NP +army NN I-NP +. . O + +Questioned VBN B-VP +in IN B-PP +Washington NNP B-NP +about IN B-PP +what WP B-NP +would MD B-VP +happen VB I-VP +if IN B-SBAR +his PRP$ B-NP +much-heralded JJ I-NP +peace NN I-NP +plan NN I-NP +would MD B-VP +fail VB I-VP +, , O +President NNP B-NP +Arias NNP I-NP +voiced VBD B-VP +expectations NNS B-NP +of IN B-PP +direct JJ B-NP +U.S. NNP I-NP +action NN I-NP +. . O + +A DT B-NP +poll NN I-NP +conducted VBN B-VP +in IN B-PP +July NNP B-NP +by IN B-PP +a DT B-NP +Gallup NNP I-NP +affiliate NN I-NP +showed VBD B-VP +that IN B-SBAR +64 CD B-NP +% NN I-NP +of IN B-PP +Costa NNP B-NP +Ricans NNS I-NP +believe VBP B-VP +that IN B-SBAR +if IN B-SBAR +their PRP$ B-NP +country NN I-NP +is VBZ B-VP +militarily RB I-VP +attacked VBN I-VP +by IN B-PP +either DT B-NP +Nicaragua NNP I-NP +or CC I-NP +Panama NNP I-NP +, , O +the DT B-NP +U.S. NNP I-NP +will MD B-VP +come VB I-VP +to TO B-PP +its PRP$ B-NP +defense NN I-NP +. . O + +But CC O +in IN B-PP +the DT B-NP +light NN I-NP +of IN B-PP +events NNS B-NP +in IN B-PP +Panama NNP B-NP +, , O +where WRB B-ADVP +the DT B-NP +U.S. NNP I-NP +has VBZ B-VP +such JJ B-NP +clear JJ I-NP +strategic JJ I-NP +interests NNS I-NP +, , O +waiting VBG B-VP +for IN B-PP +the DT B-NP +Delta NNP I-NP +Force NNP I-NP +may MD B-VP +prove VB I-VP +to TO I-VP +be VB I-VP +a DT B-NP +dangerous JJ I-NP +gambit NN I-NP +. . O + +Mr. NNP B-NP +Daremblum NNP I-NP +is VBZ B-VP +a DT B-NP +lawyer NN I-NP +and CC O +a DT B-NP +columnist NN I-NP +for IN B-PP +La NNP B-NP +Nacion NNP I-NP +newspaper NN I-NP +. . O + +Holiday NNP B-NP +Corp. NNP I-NP +said VBD B-VP +net JJ B-NP +income NN I-NP +jumped VBD B-VP +89 CD B-NP +% NN I-NP +, , O +partly RB B-ADVP +on IN B-PP +the DT B-NP +strength NN I-NP +of IN B-PP +record NN B-NP +operating VBG I-NP +income NN I-NP +in IN B-PP +its PRP$ B-NP +gaming NN I-NP +division NN I-NP +. . O + +Separately RB B-ADVP +, , O +the DT B-NP +hotel NN I-NP +and CC I-NP +gambling NN I-NP +giant NN I-NP +said VBD B-VP +it PRP B-NP +was VBD B-VP +proceeding VBG I-VP +with IN B-PP +plans NNS B-NP +to TO B-VP +make VB I-VP +a DT B-NP +tender NN I-NP +offer NN I-NP +and CC O +solicit VB B-VP +consents NNS B-NP +with IN B-PP +respect NN B-NP +to TO B-PP +approximately RB B-NP +$ $ I-NP +1.4 CD I-NP +billion CD I-NP +of IN B-PP +its PRP$ B-NP +publicly RB I-NP +traded VBN I-NP +debt NN I-NP +. . O + +That DT B-NP +debt NN I-NP +is VBZ B-VP +part NN B-NP +of IN B-PP +the DT B-NP +$ $ I-NP +2.1 CD I-NP +billion CD I-NP +of IN B-PP +Holiday NNP B-NP +debt NN I-NP +that IN B-NP +Bass NNP B-NP +PLC NNP I-NP +of IN B-PP +Britain NNP B-NP +said VBD B-VP +it PRP B-NP +would MD B-VP +retire VB I-VP +or CC I-VP +assume VB I-VP +when WRB B-ADVP +it PRP B-NP +agreed VBD B-VP +to TO I-VP +buy VB I-VP +the DT B-NP +Holiday NNP I-NP +Inn NNP I-NP +business NN I-NP +in IN B-PP +August NNP B-NP +. . O + +Holiday NNP B-NP +said VBD B-VP +third-quarter JJ B-NP +earnings NNS I-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +39.8 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.53 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +21 CD I-NP +million CD I-NP +, , O +or CC O +84 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Results NNS B-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +included VBD B-VP +$ $ B-NP +19.2 CD I-NP +million CD I-NP +in IN B-PP +pretax JJ B-NP +gains NNS I-NP +from IN B-PP +property NN B-NP +transactions NNS I-NP +, , O +including VBG B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +one CD B-NP +Embassy NNP I-NP +Suites NNPS I-NP +hotel NN I-NP +, , O +and CC O +$ $ B-NP +3.5 CD I-NP +million CD I-NP +of IN B-PP +nonrecurring VBG B-NP +costs NNS I-NP +associated VBN B-VP +with IN B-PP +the DT B-NP +acquisition NN I-NP +of IN B-PP +the DT B-NP +Holiday NNP I-NP +Inn NNP I-NP +business NN I-NP +by IN B-PP +Bass NNP B-NP +. . O + +Holiday NNP B-NP +said VBD B-VP +operating VBG B-NP +income NN I-NP +related VBN B-VP +to TO B-PP +gaming NN B-NP +increased VBN B-VP +4.5 CD B-NP +% NN I-NP +to TO B-PP +a DT B-NP +record NN I-NP +$ $ I-NP +61.4 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +58.8 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +The DT B-NP +jump NN I-NP +reflected VBD B-VP +record NN B-NP +results NNS I-NP +in IN B-PP +Las NNP B-NP +Vegas NNP I-NP +, , O +Nev. NNP B-NP +, , O +and CC O +Atlantic NNP B-NP +City NNP I-NP +, , O +N.J. NNP B-NP +, , O +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +a DT B-NP +full JJ I-NP +quarter NN I-NP +'s POS B-NP +results NNS I-NP +from IN B-PP +Harrah NNP B-NP +'s POS B-NP +Del NNP I-NP +Rio NNP I-NP +in IN B-PP +Laughlin NNP B-NP +, , O +Nev NNP B-NP +. . O + +Third-quarter JJ B-NP +revenue NN I-NP +rose VBD B-VP +2.7 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +433.5 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +422.1 CD I-NP +million CD I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +earnings NNS B-NP +fell VBD B-VP +2.9 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +99.1 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +3.86 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +102.1 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +4.10 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Revenue NN B-NP +dropped VBD B-VP +1.6 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +1.21 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +1.23 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +tender NN I-NP +offer NN I-NP +and CC I-NP +consent NN I-NP +solicitation NN I-NP +will MD B-VP +be VB I-VP +made VBN I-VP +to TO B-PP +debtholders NNS B-NP +in IN B-PP +December NNP B-NP +. . O + +In IN B-PP +effect NN B-NP +, , O +Holiday NNP B-NP +is VBZ B-VP +asking VBG I-VP +holders NNS B-NP +for IN B-PP +permission NN B-NP +for IN B-SBAR +Bass NNP B-NP +to TO B-VP +buy VB I-VP +their PRP$ B-NP +debt NN I-NP +. . O + +Holiday NNP B-NP +said VBD B-VP +Salomon NNP B-NP +Brothers NNP I-NP +Inc. NNP I-NP +has VBZ B-VP +been VBN I-VP +retained VBN I-VP +to TO I-VP +act VB I-VP +as IN B-PP +the DT B-NP +dealer-manager NN I-NP +and CC I-NP +financial JJ I-NP +adviser NN I-NP +in IN B-PP +connection NN B-NP +with IN B-PP +the DT B-NP +offer NN I-NP +and CC I-NP +solicitation NN I-NP +. . O + +The DT B-NP +debt NN I-NP +issues NNS I-NP +involved VBN B-VP +and CC O +the DT B-NP +proposed VBN I-NP +consent NN I-NP +fees NNS I-NP +and CC I-NP +cash NN I-NP +tender NN I-NP +offer NN I-NP +prices NNS I-NP +-LRB- ( O +expressed VBN B-VP +per IN B-PP +$ $ B-NP +1,000 CD I-NP +of IN B-PP +principal JJ B-NP +amount NN I-NP +-RRB- ) O +are VBP B-VP +as IN B-SBAR +follows VBZ B-VP +: : O +10 CD B-NP +1\/2 CD I-NP +% NN I-NP +senior JJ I-NP +notes NNS I-NP +due JJ B-ADJP +1994 CD B-NP +at IN B-PP +101 CD B-NP +% NN I-NP +; : O +11 CD B-NP +% NN I-NP +subordinated VBD I-NP +debt NN I-NP +due JJ B-ADJP +1999 CD B-NP +at IN B-PP +102 CD B-NP +% NN I-NP +; : O +9 CD B-NP +3\/8 CD I-NP +% NN I-NP +notes NNS I-NP +due JJ B-ADJP +1993 CD B-NP +at IN B-PP +100 CD B-NP +% NN I-NP +; : O +and CC O +8 CD B-NP +3\/8 CD I-NP +% NN I-NP +notes NNS I-NP +due JJ B-ADJP +1996 CD B-NP +at IN B-PP +95.25 CD B-NP +% NN I-NP +. . O + +Holiday NNP B-NP +said VBD B-VP +its PRP$ B-NP +15 CD I-NP +% NN I-NP +notes NNS I-NP +due JJ B-ADJP +1992 CD B-NP +also RB B-ADVP +will MD B-VP +be VB I-VP +included VBN I-VP +in IN B-PP +the DT B-NP +tender NN I-NP +offer NN I-NP +and CC I-NP +consent NN I-NP +solicitation NN I-NP +at IN B-PP +a DT B-NP +price NN I-NP +to TO B-VP +be VB I-VP +determined VBN I-VP +by IN B-PP +Holiday NNP B-NP +prior RB B-ADVP +to TO B-PP +the DT B-NP +commencement NN I-NP +of IN B-PP +the DT B-NP +offer NN I-NP +. . O + +The DT B-NP +television NN I-NP +units NNS I-NP +of IN B-PP +Paramount NNP B-NP +Communications NNP I-NP +Inc. NNP I-NP +and CC O +MCA NNP B-NP +Inc. NNP I-NP +are VBP B-VP +exploring VBG I-VP +the DT B-NP +possibility NN I-NP +of IN B-PP +offering NN B-VP +prime-time JJ B-NP +programming NN I-NP +to TO B-PP +independent JJ B-NP +stations NNS I-NP +two CD B-NP +nights NNS I-NP +a DT B-NP +week NN I-NP +, , O +industry NN B-NP +executives NNS I-NP +say VBP B-VP +. . O + +Although IN B-SBAR +such JJ B-NP +a DT I-NP +venture NN I-NP +would MD B-VP +n't RB I-VP +match VB I-VP +the DT B-NP +`` `` I-NP +fourth JJ I-NP +network NN I-NP +'' '' O +created VBN B-VP +by IN B-PP +News NNP B-NP +Corp. NNP I-NP +'s POS B-NP +Fox NNP I-NP +Broadcasting NNP I-NP +Co. NNP I-NP +, , O +MCA NNP B-NP +and CC I-NP +Paramount NNP I-NP +may MD B-VP +have VB I-VP +similar JJ B-NP +ambitions NNS I-NP +. . O + +Fox NNP B-NP +, , O +which WDT B-NP +also RB B-ADVP +owns VBZ B-VP +six CD B-NP +TV NN I-NP +stations NNS I-NP +, , O +provides VBZ B-VP +programs NNS B-NP +three CD B-NP +nights NNS I-NP +a DT B-NP +week NN I-NP +to TO B-PP +those DT B-NP +and CC I-NP +other JJ I-NP +affiliates NNS I-NP +. . O + +Paramount NNP B-NP +Domestic JJ I-NP +TV NN I-NP +and CC O +MCA NNP B-NP +TV NN I-NP +formed VBD B-VP +a DT B-NP +joint JJ I-NP +venture NN I-NP +last JJ B-NP +month NN I-NP +, , O +named VBN B-VP +Premier NNP B-NP +Advertiser NNP I-NP +Sales NNS I-NP +, , O +to TO B-VP +sell VB I-VP +advertising NN B-NP +in IN B-PP +programs NNS B-NP +syndicated VBN B-VP +by IN B-PP +both DT B-NP +companies NNS I-NP +, , O +such JJ B-PP +as IN I-PP +`` `` O +Star NNP B-NP +Trek NNP I-NP +: : O +the DT B-NP +Next NNP I-NP +Generation NNP I-NP +, , O +'' '' O +`` `` O +Charles NNP B-NP +in IN B-PP +Charge NNP B-NP +'' '' O +and CC O +`` `` O +Friday NNP B-NP +the DT B-NP +13th JJ I-NP +: : O +the DT B-NP +Series NNP I-NP +. . O +'' '' O + +A DT B-NP +spokeswoman NN I-NP +for IN B-PP +Paramount NNP B-NP +said VBD B-VP +the DT B-NP +company NN I-NP +does VBZ B-VP +n't RB I-VP +comment VB I-VP +on IN B-PP +speculation NN B-NP +. . O + +Calls NNS B-NP +to TO B-PP +Shelly NNP B-NP +Schwab NNP I-NP +, , O +president NN B-NP +of IN B-PP +MCA NNP B-NP +TV NN I-NP +, , O +were VBD B-VP +n't RB I-VP +returned VBN I-VP +. . O + +The DT B-NP +two CD I-NP +companies NNS I-NP +, , O +like IN B-PP +Fox NNP B-NP +, , O +already RB B-ADVP +have VBP B-VP +their PRP$ B-NP +own JJ I-NP +TV NN I-NP +stations NNS I-NP +. . O + +MCA NNP B-NP +owns VBZ B-VP +WWOR NNP B-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +and CC O +Paramount NNP B-NP +last JJ B-NP +month NN I-NP +agreed VBD B-VP +to TO I-VP +purchase VB I-VP +a DT B-NP +79 CD I-NP +% NN I-NP +stake NN I-NP +in IN B-PP +the DT B-NP +TVX NNP I-NP +Broadcast NNP I-NP +Group NNP I-NP +from IN B-PP +Salomon NNP B-NP +Inc. NNP I-NP +in IN B-PP +a DT B-NP +deal NN I-NP +valued VBN B-VP +at IN B-PP +$ $ B-NP +140 CD I-NP +million CD I-NP +. . O + +TVX NNP B-NP +owns VBZ B-VP +five CD B-NP +stations NNS I-NP +, , O +including VBG B-PP +WTXF NNP B-NP +, , O +a DT B-NP +Fox NNP I-NP +affiliate NN I-NP +, , O +in IN B-PP +Philadelphia NNP B-NP +. . O + +One CD B-NP +broadcasting NN I-NP +executive NN I-NP +familiar JJ B-ADJP +with IN B-PP +the DT B-NP +project NN I-NP +said VBD B-VP +the DT B-NP +co-venture NN I-NP +would MD B-VP +target VB I-VP +stations NNS B-NP +affiliated VBN B-VP +with IN B-PP +Fox NNP B-NP +because IN B-SBAR +Fox NNP B-NP +has VBZ B-VP +the DT B-NP +desirable JJ I-NP +independent JJ I-NP +stations NNS I-NP +in IN B-PP +most RBS B-NP +of IN B-PP +the DT B-NP +key JJ I-NP +cities NNS I-NP +. . O + +Currently RB B-ADVP +, , O +Fox NNP B-NP +supplies NNS B-VP +programs NNS B-NP +on IN B-PP +Saturdays NNPS B-NP +, , I-NP +Sundays NNPS I-NP +and CC I-NP +Mondays NNPS I-NP +, , O +although IN B-SBAR +the DT B-NP +company NN I-NP +plans NNS B-VP +to TO I-VP +expand VB I-VP +to TO B-PP +other JJ B-NP +weeknights NNS I-NP +. . O + +Jamie NNP B-NP +Kellner NNP I-NP +, , O +president NN B-NP +of IN B-PP +Fox NNP B-NP +Broadcasting NNP I-NP +, , O +said VBD B-VP +, , O +`` `` O +We PRP B-NP +believe VBP B-VP +the DT B-NP +partnership NN I-NP +of IN B-PP +Fox NNP B-NP +, , O +its PRP$ B-NP +affiliates NNS I-NP +and CC O +advertisers NNS B-NP +is VBZ B-VP +succeeding VBG I-VP +and CC O +will MD B-VP +continue VB I-VP +to TO I-VP +grow VB I-VP +. . O +'' '' O + +Another DT B-NP +Fox NNP I-NP +official NN I-NP +, , O +who WP B-NP +declined VBD B-VP +to TO I-VP +be VB I-VP +identified VBN I-VP +, , O +said VBD B-VP +Fox NNP B-NP +was VBD B-VP +n't RB I-VP +pleased VBN I-VP +by IN B-PP +the DT B-NP +possible JJ I-NP +Paramount-MCA JJ I-NP +venture NN I-NP +into IN B-PP +prime-time JJ B-NP +programming NN I-NP +. . O + +`` `` O +To TO B-VP +make VB I-VP +the DT B-NP +venture NN I-NP +work NN B-VP +, , O +they PRP B-NP +would MD B-VP +need VB I-VP +Fox NNP B-NP +affiliates NNS I-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +`` `` O +We PRP B-NP +spent VBD B-VP +a DT B-NP +lot NN I-NP +of IN B-PP +time NN B-NP +and CC I-NP +money NN I-NP +in IN B-PP +building VBG B-VP +our PRP$ B-NP +group NN I-NP +of IN B-PP +stations NNS B-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +, , O +adding VBG B-VP +that IN B-SBAR +Fox NNP B-NP +does VBZ B-VP +n't RB I-VP +`` `` I-VP +appreciate VB I-VP +'' '' O +another DT B-NP +company NN I-NP +attempting VBG B-VP +to TO I-VP +usurp VB I-VP +its PRP$ B-NP +station NN I-NP +lineup NN I-NP +. . O + +Fox NNP B-NP +said VBD B-VP +it PRP B-NP +plans VBZ B-VP +to TO I-VP +offer VB I-VP +its PRP$ B-NP +stations NNS I-NP +movies NNS B-NP +, , O +theatrical JJ B-NP +and CC I-NP +made-for-TV JJ I-NP +ventures NNS I-NP +, , O +probably RB B-ADVP +on IN B-PP +Wednesdays NNS B-NP +, , O +sometime RB B-ADVP +next JJ B-NP +year NN I-NP +. . O + +It PRP B-NP +is VBZ B-VP +also RB I-VP +planning VBG I-VP +another DT B-NP +night NN I-NP +of IN B-PP +original JJ B-NP +series NN I-NP +. . O + +Paramount NNP B-NP +and CC I-NP +MCA NNP I-NP +, , O +according VBG B-PP +to TO B-PP +the DT B-NP +broadcasting NN I-NP +executive NN I-NP +, , O +plan NN B-VP +to TO I-VP +offer VB I-VP +theatrical JJ B-NP +movies NNS I-NP +produced VBN B-VP +separately RB B-ADVP +by IN B-PP +Paramount NNP B-NP +and CC I-NP +MCA NNP I-NP +for IN B-PP +Wednesdays NNS B-NP +and CC O +perhaps RB B-ADVP +a DT B-NP +block NN I-NP +of IN B-PP +original JJ B-NP +shows NNS I-NP +Fridays NNPS B-NP +. . O + +The DT B-NP +executive NN I-NP +said VBD B-VP +Paramount NNP B-NP +and CC I-NP +MCA NNP I-NP +have VBP B-VP +also RB I-VP +held VBN I-VP +discussions NNS B-NP +with IN B-PP +Chris-Craft NNP B-NP +Industries NNPS I-NP +' POS B-NP +broadcasting NN I-NP +unit NN I-NP +, , O +which WDT B-NP +owns VBZ B-VP +five CD B-NP +independent JJ I-NP +stations NNS I-NP +in IN B-PP +cities NNS B-NP +such JJ B-PP +as IN I-PP +Los NNP B-NP +Angeles NNP I-NP +, , O +San NNP B-NP +Francisco NNP I-NP +and CC O +Portland NNP B-NP +, , O +Ore NNP B-NP +. . O + +A DT B-NP +Chris-Craft NNP I-NP +station NN I-NP +manager NN I-NP +said VBD B-VP +there EX B-NP +have VBP B-VP +been VBN I-VP +no DT B-NP +formal JJ I-NP +talks NNS I-NP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +it PRP B-NP +'s VBZ B-VP +to TO B-PP +Fox NNP B-NP +'s POS B-NP +advantage NN I-NP +to TO B-VP +be VB I-VP +associated VBN I-VP +with IN B-PP +the DT B-NP +Paramount-MCA JJ I-NP +venture NN I-NP +, , O +'' '' O +said VBD B-VP +Michael NNP B-NP +Conway NNP I-NP +, , O +station NN B-NP +manager NN I-NP +of IN B-PP +WTXF NNP B-NP +, , O +the DT B-NP +TVX NNP I-NP +station NN I-NP +that WDT B-NP +is VBZ B-VP +a DT B-NP +Fox NNP I-NP +affiliate NN I-NP +. . O + +Mr. NNP B-NP +Conway NNP I-NP +said VBD B-VP +the DT B-NP +Fox NNP I-NP +shows VBZ I-NP +appearing VBG B-VP +on IN B-PP +nights NNS B-NP +when WRB B-ADVP +Paramount-MCA JJ B-NP +shows NNS I-NP +would MD B-VP +n't RB I-VP +be VB I-VP +offered VBN I-VP +could MD B-VP +be VB I-VP +promoted VBN I-VP +on IN B-PP +the DT B-NP +programs NNS I-NP +produced VBN B-VP +by IN B-PP +Paramount-MCA JJ B-NP +. . O + +Michael NNP B-NP +Fisher NNP I-NP +, , O +general JJ B-NP +manager NN I-NP +of IN B-PP +KTXL NNP B-NP +, , O +a DT B-NP +Fox NNP I-NP +affiliate NN I-NP +in IN B-PP +Sacramento NNP B-NP +, , O +Calif. NNP B-NP +, , O +said VBD B-VP +, , O +`` `` O +The DT B-NP +real JJ I-NP +question NN I-NP +is VBZ B-VP +whether IN B-SBAR +the DT B-NP +Paramount-MCA JJ I-NP +offering NN I-NP +is VBZ B-VP +practical JJ B-ADJP +. . O + +It PRP B-NP +is VBZ B-VP +n't RB O +... : O +. . O + +Why WRB B-ADVP +would MD O +I PRP B-NP +consider VB B-VP +giving VBG I-VP +up IN B-PRT +Fox NNP B-NP +, , O +a DT B-NP +proven VBN I-NP +commodity NN I-NP +, , O +'' '' O +for IN B-PP +an DT B-NP +unknown JJ I-NP +venture NN I-NP +? . O + +Fox NNP B-NP +attracts VBZ B-VP +a DT B-NP +young JJ I-NP +audience NN I-NP +with IN B-PP +shows VBZ B-NP +such JJ B-PP +as IN I-PP +`` `` O +Married VBN B-VP +... : O +With IN B-PP +Children NNS B-NP +, , O +'' '' O +its PRP$ B-NP +most RBS I-NP +successful JJ I-NP +series NN I-NP +. . O + +Banco NNP B-NP +Popular NNP I-NP +de FW I-NP +Puerto NNP I-NP +Rico NNP I-NP +and CC O +BanPonce NNP B-NP +Corp. NNP I-NP +-- : O +agreed VBD B-VP +to TO I-VP +merge VB I-VP +in IN B-PP +a DT B-NP +transaction NN I-NP +valued VBN B-VP +at IN B-PP +$ $ B-NP +324 CD I-NP +million CD I-NP +. . O + +Under IN B-PP +the DT B-NP +agreement NN I-NP +, , O +BanPonce NNP B-NP +stockholders NNS I-NP +will MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +exchange VB I-VP +each DT B-NP +of IN B-PP +their PRP$ B-NP +shares NNS I-NP +for IN B-PP +either DT O +shares NNS B-NP +in IN B-PP +the DT B-NP +new JJ I-NP +entity NN I-NP +or CC O +cash NN B-NP +. . O + +In IN B-PP +each DT B-NP +case NN I-NP +, , O +the DT B-NP +exchange NN I-NP +is VBZ B-VP +valued VBN I-VP +at IN B-PP +$ $ B-NP +56.25 CD I-NP +a DT B-NP +share NN I-NP +. . O + +The DT B-NP +two CD I-NP +companies NNS I-NP +, , O +both DT B-NP +based VBN B-VP +in IN B-PP +San NNP B-NP +Juan NNP I-NP +, , O +will MD B-VP +form VB I-VP +a DT B-NP +bank NN I-NP +holding VBG I-NP +company NN I-NP +with IN B-PP +assets NNS B-NP +of IN B-PP +just RB B-NP +over IN I-NP +$ $ I-NP +9 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +holding VBG I-NP +company NN I-NP +will MD B-VP +be VB I-VP +called VBN I-VP +BanPonce NNP B-NP +Corp NNP I-NP +. . O + +The DT B-NP +primary JJ I-NP +subsidiary NN I-NP +will MD B-VP +be VB I-VP +the DT B-NP +combined VBN I-NP +banking NN I-NP +operations NNS I-NP +of IN B-PP +the DT B-NP +two CD I-NP +companies NNS I-NP +and CC O +will MD B-VP +be VB I-VP +known VBN I-VP +as IN B-PP +Banco NNP B-NP +Popular NNP I-NP +de FW I-NP +Puerto NNP I-NP +Rico NNP I-NP +. . O + +Rafael NNP B-NP +Carrion NNP I-NP +Jr. NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +Banco NNP B-NP +Popular NNP I-NP +, , O +will MD B-VP +be VB I-VP +the DT B-NP +chairman NN I-NP +of IN B-PP +the DT B-NP +holding VBG I-NP +company NN I-NP +. . O + +Alberto NNP B-NP +M. NNP I-NP +Paracchini NNP I-NP +, , O +currently JJ B-ADVP +chairman NN B-NP +of IN B-PP +BanPonce NNP B-NP +, , O +will MD B-VP +serve VB I-VP +as IN B-PP +president NN B-NP +of IN B-PP +the DT B-NP +bank NN I-NP +holding VBG I-NP +company NN I-NP +and CC O +chairman NN B-NP +of IN B-PP +the DT B-NP +subsidiary NN I-NP +. . O + +Banco NNP B-NP +Popular NNP I-NP +originally RB B-ADVP +proposed VBD B-VP +the DT B-NP +merger NN I-NP +in IN B-PP +July NNP B-NP +, , O +in IN B-PP +a DT B-NP +cash NN I-NP +and CC I-NP +stock NN I-NP +transaction NN I-NP +valued VBN B-VP +at IN B-PP +$ $ B-NP +50 CD I-NP +a DT B-NP +share NN I-NP +, , O +or CC O +about RB B-NP +$ $ I-NP +293 CD I-NP +million CD I-NP +. . O + +BanPonce NNP B-NP +reacted VBD B-VP +cooly RB B-ADVP +at IN B-PP +first JJ B-ADJP +, , O +but CC O +appeared VBD B-VP +to TO I-VP +be VB I-VP +won VBN I-VP +over IN B-PRT +, , O +analysts NNS B-NP +said VBD B-VP +, , O +by IN B-PP +Banco NNP B-NP +Popular NNP I-NP +'s POS B-NP +assurances NNS I-NP +that IN B-SBAR +it PRP B-NP +wanted VBD B-VP +only RB B-NP +a DT I-NP +friendly JJ I-NP +transaction NN I-NP +. . O + +`` `` O +Banco NNP B-NP +Popular NNP I-NP +just RB B-ADVP +kept VBD B-VP +waiting VBG I-VP +, , O +'' '' O +said VBD B-VP +Edward NNP B-NP +Thompson NNP I-NP +, , O +a DT B-NP +vice NN I-NP +president NN I-NP +and CC I-NP +analyst NN I-NP +at IN B-PP +Thomson NNP B-NP +BankWatch NNP I-NP +Inc. NNP I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +. . O + +`` `` O +They PRP B-NP +got VBD B-VP +a DT B-NP +transaction NN I-NP +that WDT B-NP +'s VBZ B-VP +good JJ B-ADJP +for IN B-PP +both DT B-NP +companies NNS I-NP +. . O +'' '' O + +The DT B-NP +two CD I-NP +banks NNS I-NP +appear VBP B-VP +to TO I-VP +be VB I-VP +a DT B-NP +good JJ I-NP +fit NN I-NP +. . O + +BanPonce NNP B-NP +caters VBZ B-VP +to TO B-PP +a DT B-NP +more RBR I-NP +affluent JJ I-NP +customer NN I-NP +, , O +while IN B-SBAR +Banco NNP B-NP +Popular NNP I-NP +has VBZ B-VP +always RB I-VP +had VBN I-VP +a DT B-NP +large JJ I-NP +presence NN I-NP +among IN B-PP +middle-income JJ B-NP +and CC I-NP +lower-income JJ I-NP +markets NNS I-NP +. . O + +The DT B-NP +merger NN I-NP +should MD B-VP +also RB I-VP +allow VB I-VP +the DT B-NP +companies NNS I-NP +to TO B-VP +reduce VB I-VP +costs NNS B-NP +by IN B-PP +combining VBG B-VP +operations NNS B-NP +in IN B-PP +many JJ B-NP +locations NNS I-NP +in IN B-PP +Puerto NNP B-NP +Rico NNP I-NP +. . O + +`` `` O +They PRP B-NP +'re VBP B-VP +often RB B-ADVP +right NN B-ADVP +across IN B-PP +the DT B-NP +street NN I-NP +from IN B-PP +one CD B-NP +another DT I-NP +, , O +'' '' O +Mr. NNP B-NP +Thompson NNP I-NP +said VBD B-VP +. . O + +Richard NNP B-NP +Carrion NNP I-NP +, , O +who WP B-NP +is VBZ B-VP +currently JJ B-ADVP +president NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +Banco NNP B-NP +Popular NNP I-NP +, , O +said VBD B-VP +the DT B-NP +merger NN I-NP +will MD B-VP +result VB I-VP +in IN B-PP +a DT B-NP +`` `` I-NP +larger JJR I-NP +and CC I-NP +stronger RBR I-NP +locally RB I-NP +based VBN I-NP +bank NN I-NP +. . O +'' '' O + +Mr. NNP B-NP +Carrion NNP I-NP +, , O +who WP B-NP +will MD B-VP +now RB I-VP +serve VB I-VP +as IN B-PP +president NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +the DT B-NP +subsidiary NN I-NP +bank NN I-NP +, , O +added VBD B-VP +: : O +`` `` O +We PRP B-NP +'ll MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +better JJR I-VP +compete VB I-VP +with IN B-PP +large JJ B-NP +foreign JJ I-NP +banks NNS I-NP +. . O + +It PRP B-NP +makes VBZ B-VP +sense NN B-NP +from IN B-PP +a DT B-NP +strategic JJ I-NP +standpoint NN I-NP +. . O +'' '' O + +The DT B-NP +newly RB I-NP +merged VBN I-NP +company NN I-NP +will MD B-VP +have VB I-VP +165 CD B-NP +branches NNS I-NP +in IN B-PP +Puerto NNP B-NP +Rico NNP I-NP +and CC O +27 CD B-NP +branches NNS I-NP +outside IN B-ADVP +of IN B-PP +the DT B-NP +island NN I-NP +. . O + +The DT B-NP +banks NNS I-NP +said VBD B-VP +they PRP B-NP +do VBP B-VP +n't RB I-VP +expect VB I-VP +the DT B-NP +merger NN I-NP +to TO B-VP +face VB I-VP +any DT B-NP +regulatory JJ I-NP +hurdles NNS I-NP +. . O + +Mr. NNP B-NP +Carrion NNP I-NP +said VBD B-VP +the DT B-NP +merger NN I-NP +should MD B-VP +be VB I-VP +completed VBN I-VP +in IN B-PP +six CD B-NP +to TO I-NP +nine CD I-NP +months NNS I-NP +. . O + +Hit VBN B-VP +by IN B-PP +higher JJR B-NP +costs NNS I-NP +and CC O +lower JJR B-NP +sales NNS I-NP +, , O +Caterpillar NNP B-NP +Inc. NNP I-NP +said VBD B-VP +third-quarter JJ B-NP +earnings NNS I-NP +tumbled VBD B-VP +43 CD B-NP +% NN I-NP +and CC O +full-year JJ B-NP +earnings NNS I-NP +will MD B-VP +trail VB I-VP +last JJ B-NP +year NN I-NP +'s POS B-NP +results NNS I-NP +. . O + +The DT B-NP +construction NN I-NP +equipment NN I-NP +maker NN I-NP +said VBD B-VP +third-quarter JJ B-NP +profit NN I-NP +fell VBD B-VP +to TO B-PP +$ $ B-NP +108 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.07 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +190 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.87 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Sales NNS B-NP +dropped VBD B-VP +6 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +2.58 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +2.74 CD I-NP +billion CD I-NP +, , O +reflecting VBG B-VP +eight CD B-NP +fewer JJR I-NP +business NN I-NP +days NNS I-NP +in IN B-PP +the DT B-NP +latest JJS I-NP +quarter NN I-NP +. . O + +The DT B-NP +company NN I-NP +, , O +which WDT B-NP +is VBZ B-VP +in IN B-PP +a DT B-NP +costly JJ I-NP +modernization NN I-NP +program NN I-NP +, , O +said VBD B-VP +earnings NNS B-NP +were VBD B-VP +hurt VBN I-VP +by IN B-PP +higher JJR B-NP +start-up JJ I-NP +and CC I-NP +new JJ I-NP +program NN I-NP +costs NNS I-NP +, , O +increased VBN B-NP +costs NNS I-NP +of IN B-PP +materials NNS B-NP +, , O +higher JJR B-NP +wages NNS I-NP +and CC O +an DT B-NP +$ $ I-NP +11 CD I-NP +million CD I-NP +provision NN I-NP +for IN B-PP +bad JJ B-NP +debts NNS I-NP +in IN B-PP +Latin NNP B-NP +America NNP I-NP +. . O + +In IN B-PP +announcing VBG B-VP +a DT B-NP +1989 CD I-NP +capital NN I-NP +spending NN I-NP +plan NN I-NP +of IN B-PP +$ $ B-NP +950 CD I-NP +million CD I-NP +early JJ B-NP +this DT I-NP +year NN I-NP +, , O +Caterpillar NNP B-NP +said VBD B-VP +full-year JJ B-NP +earnings NNS I-NP +would MD B-VP +be VB I-VP +flat RB B-ADJP +compared VBN B-PP +with IN B-PP +last JJ B-NP +year NN I-NP +'s POS B-NP +$ $ I-NP +616 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +6.07 CD I-NP +a DT B-NP +share NN I-NP +. . O + +But CC O +yesterday NN B-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +this DT B-NP +year NN I-NP +'s POS B-NP +profit NN I-NP +will MD B-VP +be VB I-VP +lower JJR B-ADJP +. . O + +It PRP B-NP +did VBD B-VP +n't RB I-VP +say VB I-VP +by IN B-PP +how WRB B-NP +much JJ I-NP +. . O + +Suffering VBG B-VP +from IN B-PP +a DT B-NP +downturn NN I-NP +in IN B-PP +heavy JJ B-NP +truck NN I-NP +production NN I-NP +that WDT B-NP +cut VBP B-VP +orders NNS B-NP +for IN B-PP +its PRP$ B-NP +engines NNS I-NP +, , O +Caterpillar NNP B-NP +also RB B-ADVP +said VBD B-VP +it PRP B-NP +will MD B-VP +indefinitely RB I-VP +lay VB I-VP +off IN B-PRT +about IN B-NP +325 CD I-NP +workers NNS I-NP +in IN B-PP +the DT B-NP +Peoria NNP I-NP +area NN I-NP +and CC O +temporarily RB B-VP +shut VBN I-VP +its PRP$ B-NP +plant NN I-NP +in IN B-PP +York NNP B-NP +, , O +Pa. NNP B-NP +, , O +for IN B-PP +two CD B-NP +weeks NNS I-NP +in IN B-PP +both DT B-NP +November NNP I-NP +and CC I-NP +December NNP I-NP +. . O + +For IN B-PP +the DT B-NP +first JJ I-NP +nine CD I-NP +months NNS I-NP +of IN B-PP +the DT B-NP +year NN I-NP +, , O +Caterpillar NNP B-NP +said VBD B-VP +earnings NNS B-NP +fell VBD B-VP +14 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +390 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +3.85 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +453 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +4.46 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Sales NNS B-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +8.19 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +7.65 CD I-NP +billion CD I-NP +. . O + +Millicom NNP B-NP +Inc. NNP I-NP +said VBD B-VP +it PRP B-NP +is VBZ B-VP +one CD B-NP +of IN B-PP +two CD B-NP +companies NNS I-NP +to TO B-VP +receive VB I-VP +a DT B-NP +license NN I-NP +to TO B-VP +introduce VB I-VP +and CC I-VP +operate VB I-VP +a DT B-NP +cellular JJ I-NP +mobile JJ I-NP +telephone NN I-NP +system NN I-NP +in IN B-PP +Pakistan NNP B-NP +. . O + +The DT B-NP +market NN I-NP +during IN B-PP +the DT B-NP +start-up NN I-NP +is VBZ B-VP +estimated VBN I-VP +at IN B-PP +25,000 CD B-NP +subscribers NNS I-NP +. . O + +A DT B-NP +spokeswoman NN I-NP +for IN B-PP +Millicom NNP B-NP +, , O +a DT B-NP +telecommunications NNS I-NP +company NN I-NP +, , O +said VBD B-VP +she PRP B-NP +did VBD B-VP +n't RB I-VP +know VB I-VP +the DT B-NP +value NN I-NP +of IN B-PP +the DT B-NP +contract NN I-NP +. . O + +Cable NNP B-NP +& CC I-NP +Wireless NNP I-NP +PLC NNP I-NP +of IN B-PP +Britain NNP B-NP +won VBD B-VP +the DT B-NP +other JJ I-NP +license NN I-NP +. . O + +Millicom NNP B-NP +said VBD B-VP +it PRP B-NP +would MD B-VP +build VB I-VP +and CC I-VP +operate VB I-VP +the DT B-NP +system NN I-NP +in IN B-PP +Pakistan NNP B-NP +with IN B-PP +Comvik NNP B-NP +International NNP I-NP +AB NNP I-NP +, , O +part NN B-NP +of IN B-PP +the DT B-NP +Kinnevik NNP I-NP +group NN I-NP +of IN B-PP +Sweden NNP B-NP +, , O +and CC O +Arfeen NNP B-NP +International NNP I-NP +, , O +Pakistan NNP B-NP +. . O + +B.A.T NNP B-NP +Industries NNP I-NP +PLC NNP I-NP +won VBD B-VP +overwhelming JJ B-NP +shareholder NN I-NP +approval NN I-NP +for IN B-PP +a DT B-NP +defensive JJ I-NP +restructuring NN I-NP +to TO B-VP +fend VB I-VP +off IN B-PRT +a DT O +# # O +13.35 CD O +billion CD O +-LRB- ( O +$ $ B-ADJP +21.23 CD O +billion CD O +-RRB- ) O +takeover NN B-NP +bid NN I-NP +from IN B-PP +Sir NNP B-NP +James NNP I-NP +Goldsmith NNP I-NP +. . O + +At IN B-PP +a DT B-NP +shareholders NNS I-NP +' POS B-NP +meeting NN I-NP +in IN B-PP +London NNP B-NP +, , O +the DT B-NP +tobacco NN I-NP +, , I-NP +financial-services NNS I-NP +and CC I-NP +retailing NN I-NP +giant NN I-NP +said VBD B-VP +it PRP B-NP +received VBD B-VP +99.9 CD B-NP +% NN I-NP +approval NN I-NP +from IN B-PP +voting NN B-NP +holders NNS I-NP +for IN B-PP +plans NNS B-NP +to TO B-VP +spin VB I-VP +off IN B-PRT +about RB B-NP +$ $ I-NP +6 CD I-NP +billion CD I-NP +in IN B-PP +assets NNS B-NP +. . O + +B.A.T NNP B-NP +aims VBZ B-VP +to TO I-VP +sell VB I-VP +such JJ B-NP +U.S. NNP I-NP +retailing NN I-NP +units NNS I-NP +as IN B-PP +Marshall NNP B-NP +Field NNP I-NP +and CC O +Saks NNP B-NP +Fifth NNP I-NP +Avenue NNP I-NP +and CC O +float VB B-VP +its PRP$ B-NP +big JJ I-NP +paper NN I-NP +and CC I-NP +British JJ I-NP +retailing NN I-NP +businesses NNS I-NP +via IN B-PP +share NN B-NP +issues NNS I-NP +to TO B-PP +existing VBG B-NP +holders NNS I-NP +. . O + +Proceeds NNS B-NP +will MD B-VP +help VB I-VP +pay VB I-VP +for IN B-PP +a DT B-NP +planned VBN I-NP +buy-back NN I-NP +of IN B-PP +10 CD B-NP +% NN I-NP +, , O +or CC O +about IN B-NP +153 CD I-NP +million CD I-NP +, , O +of IN B-PP +its PRP$ B-NP +shares NNS I-NP +and CC O +a DT B-NP +50 CD I-NP +% NN I-NP +dividend NN I-NP +increase NN I-NP +. . O + +B.A.T NN B-NP +yesterday NN B-NP +started VBD B-VP +its PRP$ B-NP +share NN I-NP +buy-back NN I-NP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +it PRP B-NP +acquired VBD B-VP +2.5 CD B-NP +million CD I-NP +shares NNS I-NP +for IN B-PP +785 CD B-NP +pence NN I-NP +-LRB- ( O +$ $ B-NP +12.48 CD I-NP +-RRB- ) O +each DT B-NP +, , O +or CC O +a DT B-NP +total NN I-NP +of IN B-PP +# # B-NP +19.6 CD I-NP +million CD I-NP +-LRB- ( O +$ $ B-NP +31.2 CD I-NP +million CD I-NP +-RRB- ) O +, , O +from IN B-PP +its PRP$ B-NP +broker NN I-NP +, , O +Barclays NNP B-NP +de FW I-NP +Zoete NNP I-NP +Wedd NNP I-NP +. . O + +The DT B-NP +share NN I-NP +buy-back NN I-NP +plan NN I-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +underpin VB I-VP +B.A.T NNP B-NP +'s POS B-NP +share NN I-NP +price NN I-NP +. . O + +B.A.T NNP B-NP +said VBD B-VP +it PRP B-NP +may MD B-VP +make VB I-VP +more JJR B-NP +equity NN I-NP +purchases NNS I-NP +until IN B-PP +the DT B-NP +close NN I-NP +of IN B-PP +business NN B-NP +today NN B-NP +, , O +depending VBG B-PP +on IN B-PP +market NN B-NP +conditions NNS I-NP +, , O +but CC O +will MD B-VP +cease VB I-VP +further JJ B-NP +purchases NNS I-NP +until IN B-PP +Nov. NNP B-NP +22 CD I-NP +, , O +when WRB B-ADVP +it PRP B-NP +releases VBZ B-VP +third-quarter JJ B-NP +results NNS I-NP +. . O + +B.A.T NN B-NP +shares NNS I-NP +rose VBD B-VP +29 CD B-NP +pence NN I-NP +to TO B-PP +783 CD B-NP +pence NN I-NP +on IN B-PP +London NNP B-NP +'s POS B-NP +stock NN I-NP +exchange NN I-NP +yesterday NN B-NP +. . O + +Shareholder NN B-NP +approval NN I-NP +sets VBZ B-VP +the DT B-NP +stage NN I-NP +for IN B-PP +a DT B-NP +lengthy JJ I-NP +process NN I-NP +of IN B-PP +restructuring NN B-NP +that WDT B-NP +might MD B-VP +not RB I-VP +be VB I-VP +completed VBN I-VP +until IN B-PP +next JJ B-NP +year NN I-NP +'s POS B-NP +second JJ I-NP +half NN I-NP +. . O + +Before IN B-PP +the DT B-NP +recent JJ I-NP +tumult NN I-NP +in IN B-PP +global JJ B-NP +financial JJ I-NP +markets NNS I-NP +, , O +B.A.T NNP B-NP +officials NNS I-NP +, , I-NP +holders NNS I-NP +and CC I-NP +analysts NNS I-NP +had VBD B-VP +expected VBN I-VP +a DT B-NP +substantial JJ I-NP +part NN I-NP +of IN B-PP +the DT B-NP +restructuring NN I-NP +to TO B-VP +be VB I-VP +complete JJ B-ADJP +by IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +first JJ I-NP +half NN I-NP +. . O + +`` `` O +We PRP B-NP +are VBP B-VP +not RB O +in IN B-PP +any DT B-NP +hurry NN I-NP +to TO B-VP +sell VB I-VP +'' '' O +Saks NNP B-NP +, , O +Marshall NNP B-NP +Field NNP I-NP +or CC O +B.A.T NNP B-NP +'s POS B-NP +other JJ I-NP +U.S. NNP I-NP +retail JJ I-NP +properties NNS I-NP +, , O +said VBD B-VP +Chairman NNP B-NP +Patrick NNP I-NP +Sheehy NNP I-NP +. . O + +`` `` O +This DT B-NP +is VBZ B-VP +n't RB O +a DT B-NP +distress NN I-NP +sale NN I-NP +. . O + +We PRP B-NP +are VBP B-VP +determined VBN I-VP +to TO I-VP +get VB I-VP +good JJ B-NP +prices NNS I-NP +. . O +'' '' O + +Company NN B-NP +officials NNS I-NP +say VBP B-VP +the DT B-NP +flotations NNS I-NP +of IN B-PP +the DT B-NP +paper NN I-NP +and CC I-NP +British JJ I-NP +retailing NN I-NP +businesses NNS I-NP +are VBP B-VP +likely JJ B-ADJP +only RB B-ADVP +after IN B-PP +the DT B-NP +disposals NNS I-NP +of IN B-PP +the DT B-NP +U.S. NNP I-NP +retailing NN I-NP +assets NNS I-NP +. . O + +Meanwhile RB B-ADVP +, , O +Sir NNP B-NP +James NNP I-NP +still RB B-ADVP +is VBZ B-VP +pursuing VBG I-VP +efforts NNS B-NP +to TO B-VP +gain VB I-VP +U.S. NNP B-NP +insurance NN I-NP +regulators NNS I-NP +' POS B-NP +approval NN I-NP +for IN B-PP +a DT B-NP +change NN I-NP +in IN B-PP +control NN B-NP +of IN B-PP +B.A.T NNP B-NP +'s POS B-NP +Farmers NNP I-NP +Group NNP I-NP +Inc. NNP I-NP +unit NN I-NP +. . O + +The DT B-NP +Anglo-French JJ I-NP +financier NN I-NP +has VBZ B-VP +indicated VBN I-VP +he PRP B-NP +intends VBZ B-VP +to TO I-VP +bid VB I-VP +again RB B-ADVP +for IN B-PP +B.A.T NNP B-NP +if IN B-SBAR +he PRP B-NP +receives VBZ B-VP +approval NN B-NP +. . O + +Hasbro NNP B-NP +Inc. NNP I-NP +, , O +the DT B-NP +nation NN I-NP +'s POS B-NP +largest JJS I-NP +toy NN I-NP +maker NN I-NP +, , O +reported VBD B-VP +third-quarter JJ B-NP +earnings NNS I-NP +increased VBN B-VP +73 CD B-NP +% NN I-NP +from IN B-PP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +on IN B-PP +a DT B-NP +9.4 CD I-NP +% NN I-NP +sales NNS I-NP +gain NN I-NP +, , O +reflecting VBG B-VP +improved VBN B-NP +margins NNS I-NP +. . O + +Hasbro NNP B-NP +said VBD B-VP +it PRP B-NP +had VBD B-VP +net JJ B-NP +income NN I-NP +of IN B-PP +$ $ B-NP +31.3 CD I-NP +million CD I-NP +, , O +or CC O +53 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +up IN B-ADVP +from IN B-PP +$ $ B-NP +18.1 CD I-NP +million CD I-NP +, , O +or CC O +31 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +, , O +when WRB B-ADVP +it PRP B-NP +took VBD B-VP +a DT B-NP +pretax JJ I-NP +charge NN I-NP +of IN B-PP +$ $ B-NP +10 CD I-NP +million CD I-NP +after IN B-PP +dropping VBG B-VP +development NN B-NP +of IN B-PP +an DT B-NP +interactive JJ I-NP +video NN I-NP +entertainment NN I-NP +system NN I-NP +. . O + +Revenue NN B-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +403 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +368.4 CD I-NP +million CD I-NP +. . O + +The DT B-NP +company NN I-NP +cited VBD B-VP +sales NNS B-NP +gains NNS I-NP +at IN B-PP +its PRP$ B-NP +Milton NNP I-NP +Bradley NNP I-NP +and CC I-NP +Playskool NNP I-NP +units NNS I-NP +and CC B-PP +in IN B-PP +its PRP$ B-NP +international JJ I-NP +business NN I-NP +for IN B-PP +the DT B-NP +increase NN I-NP +in IN B-PP +revenue NN B-NP +. . O + +Alan NNP B-NP +G. NNP I-NP +Hassenfeld NNP I-NP +, , O +chairman NN B-NP +and CC O +chief JJ B-NP +executive NN I-NP +, , O +added VBD B-VP +that IN O +Hasbro NNP B-NP +'s POS B-NP +new JJ I-NP +line NN I-NP +of IN B-PP +battery-powered JJ B-NP +racing NN I-NP +cars NNS I-NP +, , O +called VBN B-VP +Record NNP B-NP +Breakers NNP I-NP +, , O +and CC O +its PRP$ B-NP +acquisition NN I-NP +of IN B-PP +Cabbage NNP B-NP +Patch NNP I-NP +Kids NNP I-NP +, , O +Scrabble NNP B-NP +and CC O +other JJ B-NP +lines NNS I-NP +from IN B-PP +Coleco NNP B-NP +Industries NNP I-NP +Inc. NNP I-NP +puts VBZ B-VP +the DT B-NP +company NN I-NP +`` `` O +in IN B-PP +a DT B-NP +good JJ I-NP +position NN I-NP +as IN B-SBAR +we PRP B-NP +enter VBP B-VP +the DT B-NP +Christmas NNP I-NP +buying VBG I-NP +season NN I-NP +. . O +'' '' O + +For IN B-PP +the DT B-NP +first JJ I-NP +nine CD I-NP +months NNS I-NP +of IN B-PP +the DT B-NP +year NN I-NP +, , O +Hasbro NNP B-NP +'s POS B-NP +net JJ I-NP +income NN I-NP +rose VBD B-VP +33 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +68.2 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.15 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +51.3 CD I-NP +million CD I-NP +, , O +or CC O +88 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +a DT B-NP +3.1 CD I-NP +% NN I-NP +increase NN I-NP +in IN B-PP +revenue NN B-NP +to TO B-PP +$ $ B-NP +992.7 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +963 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Reebok NNP B-NP +International NNP I-NP +Ltd. NNP I-NP +posted VBD B-VP +a DT B-NP +35 CD I-NP +% NN I-NP +increase NN I-NP +in IN B-PP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +despite IN B-PP +a DT B-NP +slight JJ I-NP +decline NN I-NP +in IN B-PP +sales NNS B-NP +. . O + +The DT B-NP +athletic JJ I-NP +footwear NN I-NP +maker NN I-NP +said VBD B-VP +net NN B-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +49.9 CD I-NP +million CD I-NP +, , O +or CC O +44 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +37.1 CD I-NP +million CD I-NP +, , O +or CC O +32 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Sales NNS B-NP +declined VBD B-VP +3 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +524.5 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +539.4 CD I-NP +million CD I-NP +. . O + +Paul NNP B-NP +Fireman NNP I-NP +, , O +Reebok NNP B-NP +chairman NN I-NP +and CC I-NP +chief JJ I-NP +executive JJ I-NP +officer NN I-NP +, , O +said VBD B-VP +, , O +`` `` O +Our PRP$ B-NP +gains NNS I-NP +in IN B-PP +earnings NNS B-NP +provide VBP B-VP +further JJ B-NP +evidence NN I-NP +that IN B-SBAR +the DT B-NP +controls NNS I-NP +we PRP B-NP +have VBP B-VP +put VBN I-VP +in IN B-PP +place NN B-NP +and CC O +our PRP$ B-NP +sales NNS I-NP +mix NN I-NP +are VBP B-VP +continuing VBG I-VP +to TO I-VP +improve VB I-VP +the DT B-NP +company NN I-NP +'s POS B-NP +overall JJ I-NP +profit NN I-NP +performance NN I-NP +. . O +'' '' O + +The DT B-NP +company NN I-NP +said VBD B-VP +it PRP B-NP +expects VBZ B-VP +sales NNS B-NP +to TO B-VP +improve VB I-VP +due JJ B-PP +to TO I-PP +a DT B-NP +number NN I-NP +of IN B-PP +new JJ B-NP +products NNS I-NP +, , O +including VBG B-PP +a DT B-NP +`` `` I-NP +pump NN I-NP +'' '' I-NP +basketball NN I-NP +shoe NN I-NP +that WDT B-NP +can MD B-VP +be VB I-VP +inflated JJ I-VP +to TO B-VP +better JJR I-VP +fit VB I-VP +the DT B-NP +foot NN I-NP +. . O + +In IN B-PP +the DT B-NP +first JJ I-NP +nine CD I-NP +months NNS I-NP +, , O +net NN B-NP +was VBD B-VP +$ $ B-NP +140 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.23 CD I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +sales NNS B-NP +of IN B-PP +$ $ B-NP +1.44 CD I-NP +billion CD I-NP +. . O + +Separately RB B-ADVP +, , O +Reebok NNP B-NP +completed VBD B-VP +the DT B-NP +acquisition NN I-NP +of IN B-PP +CML NNP B-NP +Group NNP I-NP +Inc. NNP I-NP +'s POS B-NP +Boston NNP I-NP +Whaler NNP I-NP +unit NN I-NP +, , O +a DT B-NP +builder NN I-NP +of IN B-PP +power NN B-NP +boats NNS I-NP +. . O + +CML NNP B-NP +, , O +Acton NNP B-NP +, , O +Mass. NNP B-NP +, , O +had VBD B-VP +agreed VBN I-VP +to TO I-VP +sell VB I-VP +the DT B-NP +unit NN I-NP +to TO B-PP +Reebok NNP B-NP +for IN B-PP +about RB B-NP +$ $ I-NP +42 CD I-NP +million CD I-NP +. . O + +The DT B-NP +agreement NN I-NP +also RB B-ADVP +called VBD B-VP +for IN B-SBAR +Reebok NNP B-NP +to TO B-VP +receive VB I-VP +warrants NNS B-NP +to TO B-VP +purchase VB I-VP +400,000 CD B-NP +shares NNS I-NP +of IN B-PP +CML NNP B-NP +common JJ I-NP +at IN B-PP +$ $ B-NP +31.25 CD I-NP +a DT B-NP +share NN I-NP +, , O +exercisable JJ B-ADJP +at IN B-PP +any DT B-NP +time NN I-NP +before IN B-PP +July NNP B-NP +1 CD I-NP +, , O + +An DT B-NP +outside JJ I-NP +spokesman NN I-NP +for IN B-PP +CML NNP B-NP +said VBD B-VP +the DT B-NP +terms NNS I-NP +were VBD B-VP +changed VBN I-VP +to TO B-PP +a DT B-NP +minor JJ I-NP +extent NN I-NP +but CC O +would MD B-VP +n't RB I-VP +disclose VB I-VP +what WP B-NP +those DT B-NP +changes NNS I-NP +were VBD B-VP +. . O + +Pitney NNP B-NP +Bowes NNP I-NP +Inc. NNP I-NP +directors NNS I-NP +authorized VBD B-VP +the DT B-NP +company NN I-NP +to TO B-VP +seek VB I-VP +buyers NNS B-NP +for IN B-PP +its PRP$ B-NP +Wheeler NNP I-NP +Group NNP I-NP +Inc. NNP I-NP +subsidiary NN I-NP +, , O +a DT B-NP +direct JJ I-NP +mail NN I-NP +marketer NN I-NP +of IN B-PP +office NN B-NP +supplies NNS I-NP +. . O + +Pitney NNP B-NP +Bowes NNP I-NP +said VBD B-VP +the DT B-NP +decision NN I-NP +was VBD B-VP +based VBN I-VP +on IN B-PP +a DT B-NP +long-term JJ I-NP +analysis NN I-NP +of IN B-PP +the DT B-NP +compatibility NN I-NP +of IN B-PP +Wheeler NNP B-NP +Group NNP I-NP +'s POS B-NP +marketing NN I-NP +business NN I-NP +with IN B-PP +other JJ B-NP +Pitney NNP I-NP +Bowes NNP I-NP +operations NNS I-NP +. . O + +Pitney NNP B-NP +Bowes NNP I-NP +acquired VBD B-VP +the DT B-NP +core NN I-NP +of IN B-PP +what WP B-NP +evolved VBD B-VP +into IN B-PP +Wheeler NNP B-NP +Group NNP I-NP +in IN B-PP +1979 CD B-NP +by IN B-PP +buying VBG B-VP +Dictaphone NNP B-NP +Corp NNP I-NP +. . O + +A DT B-NP +spokeswoman NN I-NP +would MD B-VP +n't RB I-VP +comment VB I-VP +on IN B-PP +whether IN B-SBAR +the DT B-NP +company NN I-NP +had VBD B-VP +talked VBN I-VP +with IN B-PP +any DT B-NP +potential JJ I-NP +buyers NNS I-NP +for IN B-PP +the DT B-NP +New NNP I-NP +Hartford NNP I-NP +, , I-NP +Conn. NNP I-NP +, , I-NP +unit NN I-NP +, , O +which WDT B-NP +had VBD B-VP +1988 CD B-NP +sales NNS I-NP +of IN B-PP +about RB B-NP +$ $ I-NP +75 CD I-NP +million CD I-NP +. . O + +She PRP B-NP +said VBD B-VP +Wheeler NNP B-NP +Group NNP I-NP +was VBD B-VP +profitable JJ B-ADJP +but CC O +would MD B-VP +n't RB I-VP +give VB I-VP +figures NNS B-NP +. . O + +The DT B-NP +spokeswoman NN I-NP +said VBD B-VP +the DT B-NP +company NN I-NP +does VBZ B-VP +n't RB I-VP +have VB I-VP +a DT B-NP +timetable NN I-NP +for IN B-PP +the DT B-NP +sale NN I-NP +, , O +adding VBG B-VP +that IN B-SBAR +the DT B-NP +board NN I-NP +'s POS B-NP +decision NN I-NP +just RB B-ADVP +starts VBZ B-VP +the DT B-NP +search NN I-NP +for IN B-PP +a DT B-NP +buyer NN I-NP +. . O + +Separately RB B-ADVP +, , O +Pitney NNP B-NP +Bowes NNP I-NP +said VBD B-VP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +gained VBD B-VP +15 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +62 CD I-NP +million CD I-NP +, , O +or CC O +78 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +54 CD I-NP +million CD I-NP +, , O +or CC O +68 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Revenue NN B-NP +grew VBD B-VP +13 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +734.8 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +650.9 CD I-NP +million CD I-NP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +the DT B-NP +growth NN I-NP +was VBD B-VP +led VBN I-VP +by IN B-PP +its PRP$ B-NP +major JJ I-NP +operations NNS I-NP +, , O +particularly RB B-ADVP +mailing VBG B-NP +, , I-NP +shipping VBG I-NP +, , I-NP +dictating VBG I-NP +and CC I-NP +facsimile NN I-NP +businesses NNS I-NP +. . O + +Steel NN B-NP +jackets NNS I-NP +of IN B-PP +a DT B-NP +type NN I-NP +that WDT B-NP +may MD B-VP +have VB I-VP +prevented VBN I-VP +collapse NN B-NP +of IN B-PP +the DT B-NP +columns NNS I-NP +of IN B-PP +a DT B-NP +1.5-mile CD I-NP +stretch NN I-NP +of IN B-PP +the DT B-NP +Nimitz NNP I-NP +Freeway NNP I-NP +had VBD B-VP +been VBN I-VP +installed VBN I-VP +on IN B-PP +at IN B-ADVP +least JJS I-ADVP +a DT B-NP +small JJ I-NP +test NN I-NP +section NN I-NP +of IN B-PP +the DT B-NP +double-decker JJ I-NP +highway NN I-NP +last JJ B-NP +year NN I-NP +by IN B-PP +California NNP B-NP +'s POS B-NP +Department NNP I-NP +of IN B-PP +Transportation NNP B-NP +, , O +employees NNS B-NP +familiar JJ B-ADJP +with IN B-PP +the DT B-NP +project NN I-NP +say VBP B-VP +. . O + +The DT B-NP +test NN I-NP +project NN I-NP +-- : O +which WDT B-NP +reportedly RB B-ADVP +survived VBD B-VP +Tuesday NNP B-NP +'s POS B-NP +earthquake NN I-NP +-- : O +was VBD B-VP +a DT B-NP +prelude NN I-NP +to TO B-PP +a DT B-NP +state NN I-NP +plan NN I-NP +to TO B-VP +retrofit VB I-VP +that IN B-NP +critical JJ I-NP +section NN I-NP +of IN B-PP +the DT B-NP +freeway NN I-NP +with IN B-PP +the DT B-NP +steel NN I-NP +casings NNS I-NP +. . O + +State NN B-NP +engineers NNS I-NP +have VBP B-VP +made VBN I-VP +a DT B-NP +preliminary JJ I-NP +finding NN I-NP +that IN B-SBAR +it PRP B-NP +was VBD B-VP +failure NN B-NP +of IN B-PP +the DT B-NP +concrete JJ I-NP +columns NNS I-NP +, , O +wrenched VBD B-VP +and CC O +separated VBN B-VP +from IN B-PP +the DT B-NP +double-decker JJ I-NP +roadbed NN I-NP +, , O +that WDT B-NP +was VBD B-VP +responsible JJ B-ADJP +for IN B-PP +the DT B-NP +collapse NN I-NP +. . O + +The DT B-NP +failure NN I-NP +in IN B-PP +Oakland NNP B-NP +of IN B-PP +the DT B-NP +freeway NN I-NP +segment NN I-NP +known VBN B-VP +as IN B-PP +the DT B-NP +Cypress NNP I-NP +structure NN I-NP +was VBD B-VP +the DT B-NP +deadliest JJS I-NP +aspect NN I-NP +of IN B-PP +the DT B-NP +quake NN I-NP +, , O +although IN B-SBAR +officials NNS B-NP +were VBD B-VP +hopeful JJ B-ADJP +yesterday NN B-NP +that IN B-SBAR +the DT B-NP +death NN I-NP +toll NN I-NP +there EX B-ADVP +might MD B-VP +be VB I-VP +significantly RB B-ADJP +lower JJR I-ADJP +than IN B-PP +the DT B-NP +250 CD I-NP +initially RB B-VP +feared VBD I-VP +. . O + +Sorting VBG B-VP +out RP B-PRT +the IN B-NP +wreckage NN I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +take VB I-VP +several JJ B-NP +days NNS I-NP +. . O + +Red JJ B-NP +tractors NNS I-NP +gingerly RB B-ADVP +picked VBD B-VP +at IN B-PP +the DT B-NP +rubble NN I-NP +while IN B-SBAR +jackhammers NNS B-NP +tried VBD B-VP +to TO I-VP +break VB I-VP +up IN B-PRT +some DT B-NP +of IN B-PP +the DT B-NP +massive JJ I-NP +slabs NNS I-NP +of IN B-PP +concrete NN B-NP +. . O + +Giant NNP B-NP +yellow JJ I-NP +cranes NNS I-NP +were VBD B-VP +wheeled VBN I-VP +up IN B-PRT +alongside IN B-PP +the DT B-NP +collapsed VBN I-NP +segment NN I-NP +, , O +preparing VBG B-VP +to TO I-VP +lift VB I-VP +off IN B-PRT +chunks NNS B-NP +of IN B-PP +the DT B-NP +debris NN I-NP +. . O + +In IN B-PP +Sacramento NNP B-NP +, , O +a DT B-NP +transportation NN I-NP +department NN I-NP +spokesman NN I-NP +said VBD B-VP +he PRP B-NP +could MD B-VP +n't RB I-VP +immediately RB I-VP +confirm VB I-VP +or CC I-VP +deny VB I-VP +existence NN B-NP +of IN B-PP +the DT B-NP +test NN I-NP +work NN I-NP +. . O + +However RB B-ADVP +, , O +he PRP B-NP +asserted VBD B-VP +that IN B-SBAR +the DT B-NP +department NN I-NP +had VBD B-VP +n't RB I-VP +mastered VBN I-VP +the DT B-NP +technology NN I-NP +needed VBN B-VP +to TO B-VP +retrofit VB I-VP +the DT B-NP +entire JJ I-NP +Cypress NNP I-NP +structure NN I-NP +. . O + +Moreover RB B-ADVP +, , O +other JJ B-NP +officials NNS I-NP +noted VBD B-VP +, , O +snafus NNS B-NP +in IN B-PP +transportation NN B-NP +funding NN I-NP +that IN B-NP +the DT B-NP +state NN I-NP +has VBZ B-VP +experienced VBN I-VP +over IN B-PP +the DT B-NP +years NNS I-NP +may MD B-VP +have VB I-VP +restricted VBN I-VP +the DT B-NP +availability NN I-NP +of IN B-PP +funds NNS B-NP +for IN B-PP +such JJ B-NP +a DT I-NP +retrofitting NN I-NP +, , O +even RB B-SBAR +if IN I-SBAR +it PRP B-NP +were VBD B-VP +technologically RB B-ADJP +feasible JJ I-ADJP +. . O + +Knowledgeable JJ B-NP +employees NNS I-NP +said VBD B-VP +the DT B-NP +retrofitting NN I-NP +, , O +which WDT B-NP +had VBD B-VP +n't RB I-VP +yet RB I-VP +been VBN I-VP +budgeted VBN I-VP +, , O +was VBD B-VP +part NN B-NP +of IN B-PP +a DT B-NP +planned VBN I-NP +, , I-NP +three-stage JJ I-NP +reinforcement NN I-NP +of IN B-PP +the DT B-NP +Cypress NNP I-NP +structure NN I-NP +begun VBN B-VP +by IN B-PP +the DT B-NP +California NNP I-NP +transportation NN I-NP +department NN I-NP +several JJ B-NP +years NNS I-NP +ago RB B-ADVP +. . O + +The DT B-NP +Cypress NNP I-NP +reinforcement NN I-NP +project NN I-NP +itself PRP B-NP +was VBD B-VP +part NN B-NP +of IN B-PP +an DT B-NP +annual JJ I-NP +effort NN I-NP +to TO B-VP +shore VB I-VP +up IN B-PRT +structures NNS B-NP +believed VBD B-VP +vulnerable JJ B-ADJP +to TO B-PP +earthquakes NNS B-NP +. . O + +The DT B-NP +state NN I-NP +began VBD B-VP +such JJ B-NP +work NN I-NP +after IN B-PP +a DT B-NP +1971 CD I-NP +tremblor NN I-NP +in IN B-PP +Southern NNP B-NP +California NNP I-NP +, , O +when WRB B-ADVP +numerous JJ B-NP +bridges NNS I-NP +collapsed VBD B-VP +. . O + +`` `` O +We PRP B-NP +had VBD B-VP +just RB I-VP +finished VBN I-VP +phase NN B-NP +two CD I-NP +'' '' O +of IN B-PP +the DT B-NP +Cypress NNP I-NP +project NN I-NP +that WDT B-NP +involved VBD B-VP +installing VBG I-VP +a DT B-NP +series NN I-NP +of IN B-PP +retaining VBG B-NP +cables NNS I-NP +designed VBN B-VP +to TO B-VP +prevent VB I-VP +sections NNS B-NP +of IN B-PP +the DT B-NP +roadway NN I-NP +from IN B-PP +separating VBG B-VP +as IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +seismic JJ B-NP +shock NN I-NP +, , O +a DT B-NP +state NN I-NP +DOT NNP I-NP +engineer NN I-NP +said VBD B-VP +. . O + +After IN B-PP +completing VBG B-VP +installation NN B-NP +of IN B-PP +the DT B-NP +jackets NNS I-NP +on IN B-PP +`` `` O +one CD B-NP +frame NN I-NP +'' '' O +of IN B-PP +the DT B-NP +freeway NN I-NP +last JJ B-NP +year NN I-NP +, , O +the DT B-NP +state NN I-NP +DOT NNP I-NP +had VBD B-VP +sent VBN I-VP +the DT B-NP +project NN I-NP +over IN B-PP +to TO B-PP +its PRP$ B-NP +Sacramento NNP I-NP +engineers NNS I-NP +to TO B-VP +draw VB I-VP +up IN B-PRT +a DT B-NP +final JJ I-NP +design NN I-NP +. . O + +Knowledgeable JJ B-NP +employees NNS I-NP +said VBD B-VP +the DT B-NP +project NN I-NP +had VBD B-VP +been VBN I-VP +stymied VBN I-VP +somewhat RB B-ADVP +by IN B-PP +`` `` O +the DT B-NP +difficulty NN I-NP +of IN B-PP +designing VBG B-VP +'' '' O +the DT B-NP +jackets NNS I-NP +. . O + +The DT B-NP +procedure NN I-NP +involves VBZ B-VP +encasing VBG I-VP +the DT B-NP +concrete JJ I-NP +columns NNS I-NP +with IN B-PP +steel NN B-NP +, , O +then RB B-ADVP +connecting VBG B-VP +them PRP B-NP +more RBR B-ADVP +securely RB I-ADVP +to TO B-PP +the DT B-NP +double-decker JJ I-NP +roadbed NN I-NP +. . O + +The DT B-NP +employees NNS I-NP +also RB B-ADVP +said VBD B-VP +the DT B-NP +project NN I-NP +may MD B-VP +have VB I-VP +been VBN I-VP +snagged VBN I-VP +by IN B-PP +budgetary JJ B-NP +concerns NNS I-NP +. . O + +One CD B-NP +preliminary JJ I-NP +estimate NN I-NP +put NN B-VP +the DT B-NP +retrofitting NN I-NP +cost NN I-NP +at IN B-PP +as RB B-NP +much JJ I-NP +as IN I-NP +$ $ I-NP +50 CD I-NP +million CD I-NP +. . O + +The DT B-NP +collapse NN I-NP +of IN B-PP +the DT B-NP +span NN I-NP +has VBZ B-VP +provoked VBN I-VP +surprise NN B-NP +and CC I-NP +anger NN I-NP +among IN B-PP +state NN B-NP +officials NNS I-NP +. . O + +Gov. NNP B-NP +George NNP I-NP +Deukmejian NNP I-NP +, , O +who WP B-NP +said VBD B-VP +he PRP B-NP +had VBD B-VP +been VBN I-VP +assured VBN I-VP +by IN B-PP +state NN B-NP +transportation NN I-NP +officials NNS I-NP +that IN B-SBAR +the DT B-NP +structure NN I-NP +could MD B-VP +withstand VB I-VP +an DT B-NP +even RB I-NP +larger JJR I-NP +quake NN I-NP +, , O +called VBN B-VP +for IN B-PP +an DT B-NP +immediate JJ I-NP +investigation NN I-NP +. . O + +`` `` O +I PRP B-NP +want VBP B-VP +to TO I-VP +know VB I-VP +who WP B-NP +made VBD B-VP +the DT B-NP +decision NN I-NP +that IN B-SBAR +it PRP B-NP +was VBD B-VP +safe JJ B-ADJP +for IN B-SBAR +186,000 CD B-NP +people NNS I-NP +to TO B-VP +use VB I-VP +every DT B-NP +day NN I-NP +, , O +'' '' O +said VBD B-VP +Richard NNP B-NP +Katz NNP I-NP +, , O +a DT B-NP +state NN I-NP +legislator NN I-NP +who WP B-NP +is VBZ B-VP +chairman NN B-NP +of IN B-PP +the DT B-NP +California NNP I-NP +Assembly NNP I-NP +'s POS B-NP +transportation NN I-NP +committee NN I-NP +. . O + +He PRP B-NP +said VBD B-VP +he PRP B-NP +would MD B-VP +convene VB I-VP +hearings NNS B-NP +within IN B-PP +two CD B-NP +weeks NNS I-NP +. . O + +The DT B-NP +Cypress NNP I-NP +structure NN I-NP +opened VBD B-VP +in IN B-PP +June NNP B-NP +1957 CD I-NP +, , O +and CC O +as IN B-PP +such JJ B-NP +, , O +like IN B-PP +many JJ B-NP +buildings NNS I-NP +in IN B-PP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +Bay NNP I-NP +area NN I-NP +, , B-VP +does VBZ I-VP +not RB O +meet VB B-VP +current JJ B-NP +building NN I-NP +codes NNS I-NP +requiring VBG B-VP +considerably RB B-NP +more JJR I-NP +steel NN I-NP +support NN I-NP +. . O + +The DT B-NP +northern JJ I-NP +piers NNS I-NP +of IN B-PP +the DT B-NP +span NN I-NP +lie NN B-VP +in IN B-PP +estuarian NN B-NP +deposits NNS I-NP +that WDT B-NP +were VBD B-VP +of IN B-PP +a DT B-NP +type NN I-NP +to TO B-VP +have VB I-VP +liquefied VBN I-VP +easily RB B-ADVP +during IN B-PP +the DT B-NP +1906 CD I-NP +quake NN I-NP +. . O + +Transportation NN B-NP +department NN I-NP +officials NNS I-NP +, , O +however RB B-ADVP +, , O +said VBD B-VP +they PRP B-NP +were VBD B-VP +as RB B-ADJP +surprised VBN I-ADJP +as IN B-PP +anyone NN B-NP +by IN B-PP +the DT B-NP +Cypress NNP I-NP +destruction NN I-NP +. . O + +They PRP B-NP +said VBD B-VP +previous JJ B-NP +earthquakes NNS I-NP +suggested VBD B-VP +that IN B-SBAR +multiple-column JJ B-NP +viaducts NNS I-NP +would MD B-VP +stand VB I-VP +up IN B-PRT +well RB B-ADVP +, , O +although IN B-SBAR +they PRP B-NP +were VBD B-VP +working VBG I-VP +on IN B-PP +ways NNS B-NP +to TO B-VP +bolster VB I-VP +them PRP B-NP +. . O + +`` `` O +Unfortunately RB B-ADVP +, , O +there EX B-NP +is VBZ B-VP +only RB B-NP +one CD I-NP +laboratory NN I-NP +for IN B-PP +developing VBG B-VP +techniques NNS B-NP +to TO B-VP +withstand VB I-VP +earthquakes NNS B-NP +, , O +and CC O +that DT B-NP +is VBZ B-VP +an DT B-NP +earthquake NN I-NP +, , O +'' '' O +said VBD B-VP +Burch NNP B-NP +Bachtold NNP I-NP +, , O +San NNP B-NP +Francisco NNP I-NP +district NN I-NP +director NN I-NP +for IN B-PP +the DT B-NP +transportation NN I-NP +department NN I-NP +. . O + +He PRP B-NP +said VBD B-VP +: : O +`` `` O +We PRP B-NP +know VBP B-VP +of IN B-PP +no DT B-NP +technology NN I-NP +that WDT B-NP +exists VBZ B-VP +anywhere RB B-ADVP +in IN B-PP +the DT B-NP +world NN I-NP +that WDT B-NP +would MD B-VP +allow VB I-VP +us PRP B-NP +to TO B-VP +'' '' O +reinforce VB B-VP +the DT B-NP +columns NNS I-NP +. . O + +Financial NNP B-NP +Corp. NNP I-NP +of IN B-PP +Santa NNP B-NP +Barbara NNP I-NP +said VBD B-VP +it PRP B-NP +rescheduled VBD B-VP +to TO B-PP +Nov. NNP B-NP +29 CD I-NP +a DT B-NP +special JJ I-NP +shareholder NN I-NP +meeting NN I-NP +to TO B-VP +vote VB I-VP +on IN B-PP +a DT B-NP +$ $ I-NP +75 CD I-NP +million CD I-NP +stock-for-debt JJ I-NP +exchange NN I-NP +. . O + +The DT B-NP +meeting NN I-NP +had VBD B-VP +been VBN I-VP +scheduled VBN I-VP +for IN B-PP +Nov. NNP B-NP +10 CD I-NP +but CC O +the DT B-NP +company NN I-NP +delayed VBD B-VP +the DT B-NP +meeting NN I-NP +to TO B-VP +allow VB I-VP +time NN B-NP +for IN B-SBAR +the DT B-NP +Securities NNP I-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +to TO B-VP +review VB I-VP +the DT B-NP +proposal NN I-NP +. . O + +As IN B-PP +part NN B-NP +of IN B-PP +a DT B-NP +restructuring NN I-NP +announced VBD B-VP +earlier RBR B-NP +this DT I-NP +year NN I-NP +, , O +the DT B-NP +company NN I-NP +proposed VBN B-VP +in IN B-PP +August NNP B-NP +to TO B-VP +exchange VB I-VP +168 CD B-NP +newly RB I-NP +issued VBN I-NP +common JJ I-NP +shares NNS I-NP +for IN B-PP +each DT B-NP +$ $ I-NP +1,000 CD I-NP +face NN I-NP +value NN I-NP +of IN B-PP +debt NN B-NP +. . O + +However RB B-ADVP +, , O +that DT B-NP +figure NN I-NP +could MD B-VP +be VB I-VP +revised VBN I-VP +, , O +Financial NNP B-NP +Corp. NNP I-NP +said VBD B-VP +. . O + +Currently RB B-ADVP +, , O +the DT B-NP +company NN I-NP +has VBZ B-VP +about IN B-NP +six CD I-NP +million CD I-NP +common JJ I-NP +shares NNS I-NP +outstanding JJ B-ADJP +. . O + +If IN B-SBAR +all PDT B-NP +the DT I-NP +debt NN I-NP +was VBD B-VP +converted VBN I-VP +, , O +about IN B-NP +13 CD I-NP +million CD I-NP +new JJ I-NP +shares NNS I-NP +would MD B-VP +be VB I-VP +issued VBN I-VP +. . O + +In IN B-PP +composite JJ B-NP +trading NN I-NP +Wednesday NNP B-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +, , O +Financial NNP B-NP +Corp. NNP I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +1.125 CD I-NP +, , O +unchanged JJ B-ADJP +. . O + +The DT B-NP +debt NN I-NP +consists VBZ B-VP +of IN B-PP +$ $ B-NP +50 CD I-NP +million CD I-NP +of IN B-PP +13 CD B-NP +3\/8 CD I-NP +% NN I-NP +subordinated VBD I-NP +notes NNS I-NP +due JJ B-ADJP +1998 CD B-NP +, , O +and CC O +$ $ B-NP +25 CD I-NP +million CD I-NP +of IN B-PP +9 CD B-NP +% NN I-NP +convertible JJ I-NP +subordinated VBN I-NP +debentures NNS I-NP +due JJ B-ADJP +2012 CD B-NP +. . O + +Financial NNP B-NP +Corp. NNP I-NP +also RB B-ADVP +is VBZ B-VP +proposing VBG I-VP +to TO I-VP +exchange VB I-VP +each DT B-NP +of IN B-PP +its PRP$ B-NP +130,000 CD I-NP +outstanding JJ I-NP +shares NNS I-NP +of IN B-PP +cumulative JJ B-NP +convertible JJ I-NP +preferred JJ I-NP +series NN I-NP +A DT I-NP +stock NN I-NP +for IN B-PP +two CD B-NP +shares NNS I-NP +of IN B-PP +common NN B-NP +. . O + +After IN B-PP +years NNS B-NP +of IN B-PP +quarreling VBG B-VP +over IN B-PP +Bonn NNP B-NP +'s POS B-NP +`` `` I-NP +Ostpolitik NNP I-NP +'' '' O +, , O +West NNP B-NP +Germany NNP I-NP +and CC O +the DT B-NP +U.S. NNP I-NP +appear VB B-VP +to TO I-VP +have VB I-VP +shifted VBN I-VP +onto IN B-PP +a DT B-NP +united VBN I-NP +course NN I-NP +in IN B-PP +Eastern NNP B-NP +Europe NNP I-NP +. . O + +Bonn NNP B-NP +and CC I-NP +Washington NNP I-NP +have VBP B-VP +taken VBN I-VP +a DT B-NP +leading VBG I-NP +role NN I-NP +in IN B-PP +aid NN B-NP +for IN B-PP +the DT B-NP +reformist NN I-NP +countries NNS I-NP +, , O +pledging VBG B-VP +billions NNS B-NP +of IN B-PP +dollars NNS B-NP +in IN B-PP +fresh JJ B-NP +credit NN I-NP +and CC O +forgiving VBG B-VP +old JJ B-NP +debt NN I-NP +while IN B-SBAR +urging VBG B-VP +other JJ B-NP +industrial JJ I-NP +nations NNS I-NP +to TO B-VP +follow VB I-VP +suit NN B-NP +. . O + +Both DT B-NP +hope NN B-VP +to TO I-VP +encourage VB I-VP +pressure NN B-NP +for IN B-PP +change NN B-NP +in IN B-PP +East NNP B-NP +bloc NN I-NP +countries NNS I-NP +still RB B-VP +ruled VBN I-VP +by IN B-PP +Stalinist JJ B-NP +holdouts NNS I-NP +by IN B-PP +arranging VBG B-VP +liberal JJ B-NP +financial JJ I-NP +aid NN I-NP +and CC O +trade NN B-NP +benefits NNS I-NP +for IN B-PP +Poland NNP B-NP +, , O +Hungary NNP B-NP +and CC O +, , O +to TO B-PP +a DT B-NP +lesser JJR I-NP +extent NN I-NP +, , O +the DT B-NP +Soviet NNP I-NP +Union NNP I-NP +. . O + +West JJ B-NP +German JJ I-NP +officials NNS I-NP +also RB B-ADVP +have VBP B-VP +the DT B-NP +special JJ I-NP +goal NN I-NP +of IN B-PP +holding VBG B-VP +out RP B-PRT +hope NN B-NP +for IN B-PP +East NNP B-NP +Germany NNP I-NP +'s POS B-NP +fledgling NN I-NP +reform NN I-NP +movement NN I-NP +. . O + +`` `` O +The DT B-NP +change NN I-NP +taking VBG B-VP +place NN B-NP +in IN B-PP +the DT B-NP +Soviet NNP I-NP +Union NNP I-NP +, , O +Poland NNP B-NP +and CC O +Hungary NNP B-NP +has VBZ B-VP +aroused VBN I-VP +new JJ B-NP +hope NN I-NP +in IN B-PP +both DT B-NP +German JJ I-NP +states NNS I-NP +that IN B-SBAR +reforms NNS B-NP +will MD B-VP +be VB I-VP +undertaken VBN I-VP +in IN B-PP +-LCB- ( O +East NNP B-NP +Germany NNP I-NP +-RCB- ) O +, , O +and CC O +that IN B-SBAR +relations NNS B-NP +between IN B-PP +the DT B-NP +two CD I-NP +German JJ I-NP +states NNS I-NP +, , O +too RB B-ADVP +, , O +will MD B-VP +get VB I-VP +better JJR O +, , O +'' '' O +said VBD B-VP +Foreign NNP B-NP +Minister NNP I-NP +Hans-Dietrich NNP I-NP +Genscher NNP I-NP +. . O + +Addressing VBG B-VP +a DT B-NP +conference NN I-NP +of IN B-PP +the DT B-NP +New NNP I-NP +York-based JJ I-NP +Institute NNP I-NP +for IN B-PP +East-West NNP B-NP +Security NNP I-NP +Studies NNS I-NP +in IN B-PP +Frankfurt NNP B-NP +yesterday NN B-NP +, , O +Mr. NNP B-NP +Genscher NNP I-NP +said VBD B-VP +, , O +`` `` O +History NN B-NP +will MD B-VP +judge VB I-VP +us PRP B-NP +by IN B-PP +whether IN B-SBAR +we PRP B-NP +have VBP B-VP +taken VBN I-VP +the DT B-NP +opportunities NNS I-NP +that WDT B-NP +emerge VBP B-VP +from IN B-PP +these DT B-NP +reforms NNS I-NP +. . O +'' '' O + +The DT B-NP +ultimate JJ I-NP +aim NN I-NP +of IN B-PP +Western JJ B-NP +support NN I-NP +for IN B-PP +East NNP B-NP +bloc NN I-NP +reforms NNS I-NP +, , O +he PRP B-NP +said VBD B-VP +, , O +is VBZ B-VP +to TO B-VP +create VB I-VP +`` `` O +an DT B-NP +equitable JJ I-NP +and CC I-NP +stable JJ I-NP +peaceful JJ I-NP +order NN I-NP +in IN B-PP +Europe NNP B-NP +from IN B-PP +the DT B-NP +Atlantic NNP I-NP +to TO B-PP +the DT B-NP +Urals NNPS I-NP +. . O +'' '' O + +Mr. NNP B-NP +Genscher NNP I-NP +and CC O +U.S. NNP O +Secretary NNP O +of IN B-PP +Commerce NNP B-NP +Robert NNP B-NP +A. NNP I-NP +Mosbacher NNP I-NP +, , O +in IN B-PP +separate JJ B-NP +speeches NNS I-NP +at IN B-PP +the DT B-NP +conference NN I-NP +, , O +appealed VBD B-VP +for IN B-PP +more RBR B-NP +Western JJ I-NP +contributions NNS I-NP +to TO B-PP +economic JJ B-NP +reforms NNS I-NP +and CC O +business NN B-NP +development NN I-NP +in IN B-PP +Hungary NNP B-NP +and CC I-NP +Poland NNP I-NP +. . O + +Bonn NNP B-NP +and CC I-NP +Washington NNP I-NP +are VBP B-VP +leading VBG B-NP +supporters NNS I-NP +of IN B-PP +Poland NNP B-NP +'s POS B-NP +request NN I-NP +for IN B-PP +a DT B-NP +$ $ I-NP +1 CD I-NP +billion CD I-NP +stand-by JJ I-NP +credit NN I-NP +from IN B-PP +the DT B-NP +International NNP I-NP +Monetary NNP I-NP +Fund NNP I-NP +. . O + +`` `` O +We PRP B-NP +want VBP B-VP +the DT B-NP +bold JJ I-NP +programs NNS I-NP +of IN B-PP +market NN B-NP +development NN I-NP +and CC O +political JJ B-NP +freedom NN I-NP +in IN B-PP +Hungary NNP B-NP +and CC B-PP +in IN B-PP +Poland NNP B-NP +to TO B-VP +succeed VB I-VP +. . O + +We PRP B-NP +are VBP B-VP +prepared VBN I-VP +to TO I-VP +support VB I-VP +those DT B-NP +changes NNS I-NP +, , O +'' '' O +said VBD B-VP +Mr. NNP B-NP +Mosbacher NNP I-NP +. . O + +U.S. NNP B-NP +curbs NNS I-NP +on IN B-PP +the DT B-NP +exports NNS I-NP +of IN B-PP +sensitive JJ B-NP +technology NN I-NP +to TO B-PP +East NNP B-NP +bloc NN I-NP +countries NNS I-NP +will MD B-VP +remain VB I-VP +in IN B-PP +place NN B-NP +, , O +however RB B-ADVP +. . O + +Meanwhile RB B-ADVP +, , O +the DT B-NP +U.S. NNP I-NP +House NNP I-NP +of IN B-PP +Representatives NNPS B-NP +yesterday NN B-NP +approved VBD B-VP +an DT B-NP +$ $ I-NP +837.5 CD I-NP +million CD I-NP +aid NN I-NP +package NN I-NP +for IN B-PP +Poland NNP B-NP +and CC I-NP +Hungary NNP I-NP +that IN B-NP +more JJR B-ADVP +than IN I-ADVP +doubles VBZ B-VP +the DT B-NP +amount NN I-NP +President NNP B-NP +Bush NNP I-NP +had VBD B-VP +requested VBN I-VP +. . O + +The DT B-NP +package NN I-NP +was VBD B-VP +brought VBN I-VP +to TO B-PP +the DT B-NP +House NNP I-NP +just RB B-NP +15 CD I-NP +days NNS I-NP +after IN B-SBAR +it PRP B-NP +was VBD B-VP +introduced VBN I-VP +, , O +indicating VBG B-VP +Congress NNP B-NP +'s POS B-NP +eagerness NN I-NP +to TO B-VP +reward VB I-VP +Poland NNP B-NP +and CC I-NP +Hungary NNP I-NP +for IN B-PP +their PRP$ B-NP +moves NNS I-NP +toward IN B-PP +democracy NN B-NP +and CC O +freemarket JJ B-NP +economic JJ I-NP +reforms NNS I-NP +. . O + +The DT B-NP +legislation NN I-NP +, , O +approved VBD B-VP +345-47 JJ B-ADVP +and CC O +sent VBD B-VP +to TO B-PP +the DT B-NP +Senate NNP I-NP +, , O +establishes VBZ B-VP +two CD B-NP +enterprise NN I-NP +funds NNS I-NP +, , O +to TO B-VP +be VB I-VP +governed VBN I-VP +by IN B-PP +independent JJ B-NP +nonprofit JJ I-NP +boards NNS I-NP +, , O +which WDT B-NP +will MD B-VP +make VB I-VP +loans NNS B-NP +and CC I-NP +investments NNS I-NP +in IN B-PP +new JJ B-NP +business NN I-NP +ventures NNS I-NP +in IN B-PP +Hungary NNP B-NP +and CC I-NP +Poland NNP I-NP +. . O + +The DT B-NP +Polish JJ I-NP +fund NN I-NP +would MD B-VP +be VB I-VP +seeded VBN I-VP +with IN B-PP +$ $ B-NP +160 CD I-NP +million CD I-NP +, , O +the DT B-NP +Hungarian JJ I-NP +fund NN I-NP +with IN B-PP +$ $ B-NP +40 CD I-NP +million CD I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +a DT B-NP +group NN I-NP +of IN B-PP +24 CD B-NP +industrialized VBN I-NP +countries NNS I-NP +, , O +including VBG B-PP +the DT B-NP +U.S. NNP I-NP +and CC O +Japan NNP B-NP +and CC O +coordinated VBN B-VP +by IN B-PP +the DT B-NP +European NNP I-NP +Community NNP I-NP +Commission NNP I-NP +, , O +has VBZ B-VP +promised VBN I-VP +Poland NNP B-NP +and CC I-NP +Hungary NNP I-NP +trade NN B-NP +advice NN I-NP +and CC O +a DT B-NP +line NN I-NP +of IN B-PP +credit NN B-NP +equivalent NN B-ADJP +to TO B-PP +$ $ B-NP +1.11 CD I-NP +billion CD I-NP +through IN B-PP +the DT B-NP +European NNP I-NP +Investment NNP I-NP +Bank NNP I-NP +, , O +while IN B-SBAR +the DT B-NP +EC NNP I-NP +plans VBZ B-VP +$ $ B-NP +222 CD I-NP +million CD I-NP +in IN B-PP +direct JJ B-NP +aid NN I-NP +. . O + +When WRB B-ADVP +Chancellor NNP B-NP +Helmut NNP I-NP +Kohl NNP I-NP +travels VBZ B-VP +to TO B-PP +Poland NNP B-NP +Nov. NNP B-NP +9 CD I-NP +, , O +he PRP B-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +take VB I-VP +with IN B-PP +him PRP B-NP +a DT B-NP +promise NN I-NP +of IN B-PP +three CD B-NP +billion CD I-NP +West JJ I-NP +German JJ I-NP +marks NNS I-NP +-LRB- ( O +$ $ B-NP +1.6 CD I-NP +billion CD I-NP +-RRB- ) O +in IN B-PP +new JJ B-NP +credit NN I-NP +guarantees NNS I-NP +for IN B-PP +industrial JJ B-NP +projects NNS I-NP +. . O + +Last JJ B-NP +week NN I-NP +, , O +Bonn NNP B-NP +agreed VBD B-VP +to TO I-VP +reschedule VB I-VP +2.5 CD B-NP +billion CD I-NP +marks NNS I-NP +in IN B-PP +Polish JJ B-NP +debt NN I-NP +that WDT B-NP +came VBD B-VP +due JJ B-ADJP +last JJ B-NP +year NN I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +a DT B-NP +one CD I-NP +billion CD I-NP +mark NN I-NP +credit NN I-NP +dating VBG B-VP +from IN B-PP +1974 CD B-NP +is VBZ B-VP +to TO I-VP +be VB I-VP +written VBN I-VP +off RB B-PRT +. . O + +Poland NNP B-NP +'s POS B-NP +plan NN I-NP +to TO B-VP +switch VB I-VP +to TO B-PP +a DT B-NP +free-market JJ I-NP +economy NN I-NP +by IN B-PP +1991 CD B-NP +is VBZ B-VP +hampered VBN I-VP +by IN B-PP +a DT B-NP +foreign JJ I-NP +debt NN I-NP +load NN I-NP +of IN B-PP +$ $ B-NP +39.2 CD I-NP +billion CD I-NP +. . O + +West NNP B-NP +Germany NNP I-NP +also RB B-ADVP +has VBZ B-VP +increased VBN I-VP +its PRP$ B-NP +credit NN I-NP +guarantees NNS I-NP +to TO B-PP +Hungary NNP B-NP +by IN B-PP +500 CD B-NP +million CD I-NP +marks NNS I-NP +to TO O +1.5 CD B-NP +billion CD I-NP +marks NNS I-NP +as IN B-SBAR +the DT B-NP +emerging VBG I-NP +democratic JJ I-NP +state NN I-NP +rushes VBZ B-VP +through IN B-PP +its PRP$ B-NP +own JJ I-NP +economic JJ I-NP +reforms NNS I-NP +, , O +including VBG B-PP +a DT B-NP +broad JJ I-NP +privatization NN I-NP +of IN B-PP +state-owned JJ B-NP +industry NN I-NP +and CC O +tax NN B-NP +incentives NNS I-NP +for IN B-PP +industrial JJ B-NP +investment NN I-NP +. . O + +An DT B-NP +additional JJ I-NP +500 CD I-NP +million CD I-NP +marks NNS I-NP +in IN B-PP +credit-backing NN B-NP +was VBD B-VP +promised VBN I-VP +by IN B-PP +the DT B-NP +West JJ I-NP +German JJ I-NP +state NN I-NP +governments NNS I-NP +of IN B-PP +Bavaria NNP B-NP +and CC I-NP +Baden-Wuerttemberg NNP I-NP +. . O + +Deutsche NNP B-NP +Bank NNP I-NP +AG NNP I-NP +, , O +which WDT B-NP +last JJ B-NP +year NN I-NP +arranged VBD B-VP +a DT B-NP +three CD I-NP +billion CD I-NP +mark NN I-NP +credit NN I-NP +for IN B-PP +the DT B-NP +Soviet NNP I-NP +Union NNP I-NP +, , O +is VBZ B-VP +now RB I-VP +moving VBG I-VP +to TO B-VP +become VB I-VP +the DT B-NP +first JJ I-NP +West JJ I-NP +German JJ I-NP +bank NN I-NP +to TO B-VP +set VB I-VP +up IN B-PRT +independent JJ B-NP +business NN I-NP +offices NNS I-NP +in IN B-PP +Hungary NNP B-NP +and CC I-NP +Poland NNP I-NP +as IN B-SBAR +they PRP B-NP +shift VBP B-VP +to TO B-PP +free-market JJ B-NP +economies NNS I-NP +. . O + +A DT B-NP +maxim NN I-NP +of IN B-PP +Frankfurt NNP B-NP +banking NN I-NP +holds VBZ B-VP +that IN B-SBAR +wherever WRB B-ADVP +Deutsche NNP B-NP +Bank NNP I-NP +goes VBZ B-VP +, , O +other JJ B-NP +West JJ I-NP +German JJ I-NP +banks NNS I-NP +follow VBP B-VP +. . O + +Indeed RB B-ADVP +, , O +at IN B-NP +least JJS I-NP +four CD I-NP +other JJ I-NP +West JJ I-NP +German JJ I-NP +banks NNS I-NP +are VBP B-VP +believed VBN I-VP +to TO I-VP +be VB I-VP +making VBG I-VP +inquiries NNS B-NP +. . O + +Mattel NNP B-NP +Inc. NNP I-NP +said VBD B-VP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +rose VBD B-VP +73 CD B-NP +% NN I-NP +, , O +to TO B-PP +$ $ B-NP +38 CD I-NP +million CD I-NP +, , O +or CC O +76 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +21.9 CD I-NP +million CD I-NP +, , O +or CC O +45 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Revenue NN B-NP +rose VBD B-VP +34 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +410 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +306.6 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +`` `` O +Mattel NNP B-NP +'s POS B-NP +world-wide JJ I-NP +volume NN I-NP +has VBZ B-VP +grown VBN I-VP +25 CD B-NP +% NN I-NP +in IN B-PP +a DT B-NP +climate NN I-NP +of IN B-PP +relatively RB B-NP +flat JJ I-NP +industry NN I-NP +sales NNS I-NP +, , O +'' '' O +said VBD B-VP +John NNP B-NP +W. NNP I-NP +Amerman NNP I-NP +, , O +chairman NN B-NP +. . O + +He PRP B-NP +said VBD B-VP +the DT B-NP +toy NN I-NP +company NN I-NP +'s POS B-NP +`` `` I-NP +prospects NNS I-NP +for IN B-PP +a DT B-NP +strong JJ I-NP +fourth JJ I-NP +quarter NN I-NP +'' '' O +are VBP B-VP +also RB B-ADVP +good JJ B-ADJP +. . O + +Mattel NNP B-NP +attributed VBD B-VP +the DT B-NP +jump NN I-NP +in IN B-PP +quarter NN B-NP +net JJ I-NP +to TO B-PP +strong JJ B-NP +world-wide JJ I-NP +sales NNS I-NP +of IN B-PP +its PRP$ B-NP +Barbie NNP B-NP +doll NN I-NP +, , O +Hot NNP B-NP +Wheels NNP I-NP +cars NNS I-NP +, , O +Disney NNP B-NP +toys NNS I-NP +and CC O +other JJ B-NP +well-known JJ I-NP +toy NN I-NP +lines NNS I-NP +. . O + +The DT B-NP +company NN I-NP +also RB B-ADVP +cited VBD B-VP +retail JJ B-NP +trade NN I-NP +and CC O +consumer NN B-NP +demand NN I-NP +for IN B-PP +new JJ B-NP +products NNS I-NP +introduced VBD B-VP +this DT B-NP +year NN I-NP +, , O +such JJ B-PP +as IN I-PP +Cherry NNP B-NP +Merry NNP I-NP +Muffin NNP I-NP +and CC O +Turtle NNP B-NP +Tots NNP I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +Mattel NNP B-NP +net JJ I-NP +more RBR B-ADVP +than IN I-ADVP +doubled VBN B-VP +to TO B-PP +$ $ B-NP +58.9 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.19 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +25.4 CD I-NP +million CD I-NP +, , O +or CC O +53 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +ago RB B-NP +. . O + +Revenue NN B-NP +rose VBD B-VP +25 CD B-NP +% NN I-NP +, , O +to TO B-PP +$ $ B-NP +877.6 CD I-NP +million CD I-NP +, , O +from IN B-PP +$ $ B-NP +702.4 CD I-NP +million CD I-NP +. . O + +Mattel NNP B-NP +said VBD B-VP +the DT B-NP +company NN I-NP +'s POS B-NP +sale NN I-NP +of IN B-PP +rights NNS B-NP +to TO B-PP +land VB B-NP +and CC I-NP +buildings NNS I-NP +at IN B-PP +its PRP$ B-NP +Hawthorne NNP I-NP +, , I-NP +Calif. NNP I-NP +, , I-NP +headquarters NN I-NP +resulted VBD B-VP +in IN B-PP +a DT B-NP +$ $ I-NP +13 CD I-NP +million CD I-NP +charge NN I-NP +to TO B-PP +third-quarter JJ B-NP +operating NN I-NP +profit NN I-NP +. . O + +The DT B-NP +charge NN I-NP +did VBD B-VP +n't RB I-VP +affect VB I-VP +net JJ B-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +as IN B-SBAR +it PRP B-NP +was VBD B-VP +offset VBN I-VP +by IN B-PP +tax NN B-NP +benefits NNS I-NP +. . O + +Mattel NNP B-NP +has VBZ B-VP +purchased VBN I-VP +a DT B-NP +new JJ I-NP +headquarters NN I-NP +building NN I-NP +in IN B-PP +El NNP B-NP +Segundo NNP I-NP +, , O +Calif. NNP B-NP +, , O +which WDT B-NP +it PRP B-NP +will MD B-VP +occupy VB I-VP +by IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +next JJ B-NP +year NN I-NP +. . O + +Democracy NNP B-NP +can MD B-VP +be VB I-VP +cruel JJ B-ADJP +to TO B-PP +politicians NNS B-NP +: : O +Sometimes RB B-ADVP +it PRP B-NP +forces VBZ B-VP +them PRP B-NP +to TO B-VP +make VB I-VP +choices NNS B-NP +. . O + +Now RB B-ADVP +that IN B-SBAR +the DT B-NP +Supreme NNP I-NP +Court NNP I-NP +opened VBD B-VP +the DT B-NP +door NN I-NP +on IN B-PP +the DT B-NP +subject NN I-NP +of IN B-PP +abortion NN B-NP +, , O +politicians NNS B-NP +are VBP B-VP +squinting VBG I-VP +under IN B-PP +the DT B-NP +glare NN I-NP +of IN B-PP +democratic JJ B-NP +choice NN I-NP +. . O + +Their PRP$ B-NP +discomfort NN I-NP +is VBZ B-VP +a DT B-NP +healthy JJ I-NP +sign NN I-NP +for IN B-PP +the DT B-NP +rest NN I-NP +of IN B-PP +us PRP B-NP +. . O + +Republicans NNS B-NP +are VBP B-VP +squinting VBG I-VP +most RBS B-ADVP +painfully RB I-ADVP +, , O +at IN B-ADVP +least JJS I-ADVP +at IN B-PP +first JJ B-ADJP +, , O +which WDT B-NP +is VBZ B-VP +only RB B-ADJP +fair JJ I-ADJP +because IN B-SBAR +they PRP B-NP +'ve VBP B-VP +been VBN I-VP +shielded VBN I-VP +the DT B-NP +most RBS I-NP +. . O + +So RB B-ADVP +long RB I-ADVP +as IN B-SBAR +abortion NN B-NP +was VBD B-VP +a DT B-NP +question NN I-NP +for IN B-PP +litigation NN B-NP +, , B-NP +not RB I-NP +legislation NN B-NP +, , O +Republicans NNPS B-NP +could MD B-VP +find VB I-VP +political JJ B-NP +security NN I-NP +in IN B-PP +absolutism NN B-NP +. . O + +They PRP B-NP +could MD B-VP +attract VB I-VP +one-issue JJ B-NP +voters NNS I-NP +by IN B-PP +adopting VBG B-VP +the DT B-NP +right-to-life JJ I-NP +movement NN I-NP +'s POS B-NP +strongest JJS I-NP +position NN I-NP +, , O +even RB B-SBAR +as IN I-SBAR +pro-choice JJ B-NP +Republicans NNPS I-NP +knew VBD B-VP +this DT B-NP +mattered VBD B-VP +little JJ B-NP +on IN B-PP +an DT B-NP +issue NN I-NP +monopolized VBN B-VP +by IN B-PP +the DT B-NP +court NN I-NP +. . O + +Now RB B-ADVP +it PRP B-NP +matters VBZ B-VP +. . O + +Much RB B-NP +of IN B-PP +Washington NNP B-NP +thought VBD B-VP +it PRP B-NP +detected VBD B-VP +George NNP B-NP +Bush NNP I-NP +in IN B-PP +a DT B-NP +characteristic JJ I-NP +waffle NN I-NP +on IN B-PP +abortion NN B-NP +the DT B-NP +past JJ I-NP +week NN I-NP +. . O + +Only RB B-NP +a DT I-NP +month NN I-NP +ago RB B-ADVP +he PRP B-NP +'d MD B-VP +warned VBD I-VP +Congress NNP B-NP +not RB O +to TO B-VP +pass VB I-VP +legislation NN B-NP +to TO B-VP +pay VB I-VP +for IN B-PP +abortions NNS B-NP +in IN B-PP +cases NNS B-NP +of IN B-PP +rape NN B-NP +or CC I-NP +incest NN I-NP +. . O + +Last NNP B-NP +Friday NNP I-NP +, , O +after IN B-SBAR +Congress NNP B-NP +passed VBD B-VP +it PRP B-NP +anyway RB B-ADVP +, , O +he PRP B-NP +hinted VBD B-VP +he PRP B-NP +was VBD B-VP +looking VBG I-VP +for IN B-PP +compromise NN B-NP +. . O + +Was VBD O +the DT B-NP +man NN I-NP +who WP B-NP +once RB B-ADVP +was VBD B-VP +pro-choice JJ B-ADJP +, , O +but CC O +later RB B-ADVP +pro-life JJ B-ADJP +, , O +converting VBG B-VP +again RB B-ADVP +? . O + +In IN B-PP +fact NN B-NP +, , O +Mr. NNP B-NP +Bush NNP I-NP +'s POS B-NP +dance NN I-NP +was VBD B-VP +more JJR B-NP +wiggle NN I-NP +than IN B-PP +waffle NN B-NP +. . O + +Pro-life JJ B-NP +advocates NNS I-NP +say VBP B-VP +the DT B-NP +White NNP I-NP +House NNP I-NP +never RB B-ADVP +wavered VBD B-VP +over IN B-PP +the DT B-NP +veto NN I-NP +. . O + +Christopher NNP B-NP +Smith NNP I-NP +-LRB- ( O +R. NNP B-NP +, , O +N.J. NNP B-NP +-RRB- ) O +, , O +a DT B-NP +pro-life JJ I-NP +leader NN I-NP +in IN B-PP +the DT B-NP +House NNP I-NP +, , O +suggested VBD B-VP +a DT B-NP +compromise NN I-NP +that WDT B-NP +would MD B-VP +have VB I-VP +adapted VBN I-VP +restrictive JJ B-NP +language NN I-NP +from IN B-PP +rape NN B-NP +and CC I-NP +incest NN I-NP +exceptions NNS I-NP +in IN B-PP +the DT B-NP +states NNS I-NP +. . O + +The DT B-NP +White NNP I-NP +House NNP I-NP +, , O +never RB B-ADVP +eager JJ B-ADJP +for IN B-PP +a DT B-NP +fight NN I-NP +, , O +was VBD B-VP +happy JJ B-ADJP +to TO B-VP +try VB I-VP +, , O +which WDT B-NP +is VBZ B-VP +why WRB B-ADVP +George NNP B-NP +Bush NNP I-NP +said VBD B-VP +he PRP B-NP +was VBD B-VP +looking VBG I-VP +for IN B-PP +`` `` O +flexibility NN B-NP +'' '' O +last JJ B-NP +week NN I-NP +. . O + +When WRB B-ADVP +Democrats NNPS B-NP +refused VBD B-VP +to TO I-VP +budge VB I-VP +, , O +pro-life JJ B-NP +Republicans NNPS I-NP +met VBD B-VP +at IN B-PP +the DT B-NP +White NNP I-NP +House NNP I-NP +with IN B-PP +Chief NNP O +of IN B-PP +Staff NNP B-NP +John NNP B-NP +Sununu NNP I-NP +on IN B-PP +Monday NNP B-NP +, , O +and CC O +Mr. NNP B-NP +Bush NNP I-NP +quickly RB B-ADVP +signaled VBD B-VP +a DT B-NP +veto NN I-NP +. . O + +Amid IN B-PP +charges NNS B-NP +of IN B-PP +`` `` O +timidity NN B-NP +'' '' O +on IN B-PP +Panama NNP B-NP +and CC O +elsewhere RB B-ADVP +, , O +the DT B-NP +president NN I-NP +was VBD B-VP +n't RB O +about IN O +to TO B-VP +offend VB I-VP +his PRP$ B-NP +most RBS I-NP +energetic JJ I-NP +constituency NN I-NP +. . O + +The DT B-NP +GOP NNP I-NP +doubters NNS I-NP +were VBD B-VP +in IN B-PP +Congress NNP B-NP +. . O + +In IN B-PP +last JJ B-NP +week NN I-NP +'s POS B-NP +House NNP I-NP +vote NN I-NP +, , O +41 CD B-NP +Republicans NNPS I-NP +defected VBD B-VP +. . O + +After IN B-PP +the DT B-NP +vote NN I-NP +, , O +Connecticut NNP B-NP +Rep. NNP I-NP +Nancy NNP I-NP +Johnson NNP I-NP +rounded VBD B-VP +up IN B-PRT +nearly RB B-NP +as IN I-NP +many JJ I-NP +signatures NNS I-NP +on IN B-PP +a DT B-NP +letter NN I-NP +to TO B-PP +Mr. NNP B-NP +Bush NNP I-NP +urging VBG B-VP +him PRP B-NP +not RB O +to TO B-VP +veto VB I-VP +. . O + +Even RB B-NP +such JJ I-NP +a DT I-NP +pro-life JJ I-NP +stalwart NN I-NP +as IN B-PP +Sen. NNP B-NP +Orrin NNP I-NP +Hatch NNP I-NP +-LRB- ( O +R. NNP B-NP +, , O +Utah NNP B-NP +-RRB- ) O +had VBD B-VP +counseled VBN I-VP +some DT B-NP +kind NN I-NP +of IN B-PP +compromise NN B-NP +. . O + +The DT B-NP +Senate NNP I-NP +passed VBD B-VP +the DT B-NP +same JJ I-NP +bill NN I-NP +yesterday NN B-NP +, , O +with IN B-PP +a DT B-NP +veto-proof JJ I-NP +majority NN I-NP +of IN B-PP +67 CD B-NP +. . O + +The DT B-NP +manuevering NN I-NP +illustrates VBZ B-VP +an DT B-NP +emerging VBG I-NP +Republican NNP I-NP +donnybrook NN I-NP +, , O +pacified VBD B-VP +since IN B-PP +the DT B-NP +early JJ I-NP +1980s CD I-NP +. . O + +At IN B-PP +the DT B-NP +1988 CD I-NP +GOP NNP I-NP +convention NN I-NP +, , O +abortion NN B-NP +was VBD B-VP +barely RB I-VP +discussed VBN I-VP +at IN B-ADVP +all DT I-ADVP +, , O +though IN B-SBAR +delegates NNS B-NP +were VBD B-VP +evenly RB B-ADJP +divided VBN I-ADJP +on IN B-PP +the DT B-NP +question NN I-NP +of IN B-PP +an DT B-NP +anti-abortion JJ I-NP +constitutional JJ I-NP +amendment NN I-NP +. . O + +Ms. NNP B-NP +Johnson NNP I-NP +made VBD B-VP +a DT B-NP +passionate JJ I-NP +statement NN I-NP +to TO B-PP +the DT B-NP +platform NN I-NP +committee NN I-NP +, , O +but CC O +she PRP B-NP +was VBD B-VP +talking VBG I-VP +to TO B-PP +herself PRP B-NP +. . O + +Now RB B-ADVP +many JJ B-NP +Republicans NNPS I-NP +are VBP B-VP +listening VBG I-VP +. . O + +They PRP B-NP +'re VBP B-VP +frightened VBN B-ADJP +by IN B-PP +what WP B-NP +they PRP B-NP +see VBP B-VP +in IN B-PP +New NNP B-NP +Jersey NNP I-NP +, , O +and CC O +especially RB B-ADVP +Virginia NNP B-NP +, , O +where WRB B-ADVP +pro-life JJ B-NP +GOP NNP I-NP +candidates NNS I-NP +for IN B-PP +governor NN B-NP +are VBP B-VP +being VBG I-VP +pummeled VBN I-VP +on IN B-PP +abortion NN B-NP +. . O + +Eddie NNP B-NP +Mahe NNP I-NP +, , O +a DT B-NP +Republican NNP I-NP +consultant NN I-NP +, , O +says VBZ B-VP +the DT B-NP +two CD I-NP +GOP NNP I-NP +candidates NNS I-NP +could MD B-VP +have VB I-VP +avoided VBN I-VP +trouble NN B-NP +if IN B-SBAR +they PRP B-NP +had VBD B-VP +framed VBN I-VP +the DT B-NP +issue NN I-NP +first JJ B-ADVP +. . O + +-LRB- ( O +In IN B-PP +Virginia NNP B-NP +, , O +Marshall NNP B-NP +Coleman NNP I-NP +and CC O +his PRP$ B-NP +running NN I-NP +mate NN I-NP +, , O +Eddy NNP B-NP +Dalton NNP I-NP +, , O +are VBP B-VP +both DT O +on IN B-PP +the DT B-NP +defensive NN I-NP +for IN B-PP +opposing VBG B-VP +abortions NNS B-NP +even RB B-ADVP +in IN B-PP +cases NNS B-NP +of IN B-PP +rape NN B-NP +or CC I-NP +incest NN I-NP +. . O +-RRB- ) O + +But CC O +Mr. NNP B-NP +Mahe NNP I-NP +adds VBZ B-VP +, , O +`` `` O +The DT B-NP +net JJ I-NP +loser NN I-NP +in IN B-PP +the DT B-NP +next JJ I-NP +few JJ I-NP +years NNS I-NP +is VBZ B-VP +the DT B-NP +right-to-life JJ I-NP +side NN I-NP +. . O +'' '' O + +Darla NNP B-NP +St. NNP I-NP +Martin NNP I-NP +, , O +of IN B-PP +the DT O +National NNP O +Right NNP O +to TO B-PP +Life NNP B-NP +Committee NNP B-NP +, , O +says VBZ B-VP +exit NN B-NP +polls NNS I-NP +from IN B-PP +the DT B-NP +1988 CD I-NP +election NN I-NP +had VBD B-VP +single-issue JJ B-NP +, , I-NP +pro-life JJ I-NP +voters NNS I-NP +giving VBG B-VP +Mr. NNP B-NP +Bush NNP I-NP +about IN B-NP +five CD I-NP +more JJR I-NP +percentage NN I-NP +points NNS I-NP +of IN B-PP +support NN B-NP +than IN B-SBAR +pro-choice JJ B-NP +voters NNS I-NP +gave VBD B-VP +Michael NNP B-NP +Dukakis NNP I-NP +. . O + +But CC O +the DT B-NP +Supreme NNP I-NP +Court NNP I-NP +'s POS B-NP +opening NN I-NP +of IN B-PP +debate NN B-NP +may MD B-VP +have VB I-VP +changed VBN I-VP +even RB B-NP +that DT I-NP +. . O + +GOP NNP B-NP +pollster NN I-NP +Neil NNP I-NP +Newhouse NNP I-NP +, , O +of IN B-PP +the DT B-NP +Wirthlin NNP I-NP +Group NNP I-NP +, , O +says VBZ B-VP +polls VBZ B-NP +this DT B-NP +summer NN I-NP +showed VBD B-VP +that IN B-SBAR +the DT B-NP +single-issue JJ I-NP +voters NNS I-NP +had VBD B-VP +about IN I-VP +evened VBN I-VP +out RB B-PRT +. . O + +Polls NNS B-NP +are VBP B-VP +no DT B-NP +substitute NN I-NP +for IN B-PP +principle NN B-NP +, , O +but CC O +they PRP B-NP +'ll MD B-VP +do VB I-VP +for IN B-PP +some DT B-NP +politicians NNS I-NP +. . O + +The DT B-NP +Republican NNP I-NP +danger NN I-NP +is VBZ B-VP +that DT B-NP +abortion NN I-NP +could MD B-VP +become VB I-VP +for IN B-PP +them PRP B-NP +what WP B-NP +it PRP B-NP +'s VBZ B-VP +long RB I-VP +been VBN I-VP +for IN B-PP +Democrats NNPS B-NP +, , O +a DT B-NP +divisive JJ I-NP +litmus NN I-NP +test NN I-NP +. . O + +It PRP B-NP +'s VBZ B-VP +already RB B-ADVP +that IN B-NP +in IN B-PP +the DT B-NP +Bush NNP I-NP +administration NN I-NP +, , O +at IN B-ADVP +least JJS I-ADVP +for IN B-PP +any DT B-NP +job NN I-NP +in IN B-PP +which WDT B-NP +abortion NN B-NP +is VBZ B-VP +even RB B-ADVP +remotely RB I-ADVP +an DT B-NP +issue NN I-NP +. . O + +Oklahoma NNP B-NP +official NN I-NP +Robert NNP I-NP +Fulton NNP I-NP +lost VBD B-VP +a DT B-NP +chance NN I-NP +for IN B-PP +a DT B-NP +senior JJ I-NP +job NN I-NP +in IN B-PP +the DT B-NP +Department NNP I-NP +of IN B-PP +Health NNP B-NP +and CC I-NP +Human NNP I-NP +Services NNP I-NP +after IN B-SBAR +right-to-life JJ B-NP +activists NNS I-NP +opposed VBN B-VP +him PRP B-NP +. . O + +Caldwell NNP B-NP +Butler NNP I-NP +, , O +a DT B-NP +conservative JJ I-NP +former JJ I-NP +congressman NN I-NP +, , O +was VBD B-VP +barred VBN I-VP +from IN B-PP +a DT B-NP +Legal NNP I-NP +Services NNPS I-NP +post NN I-NP +, , O +after IN B-SBAR +he PRP B-NP +gave VBD B-VP +wrong JJ B-NP +answers NNS I-NP +on IN B-PP +abortion NN B-NP +. . O + +Even RB O +the DT B-NP +president NN I-NP +'s POS B-NP +doctor NN I-NP +, , O +Burton NNP B-NP +Lee NNP I-NP +, , O +has VBZ B-VP +said VBD I-VP +on IN B-PP +the DT B-NP +record NN I-NP +that IN B-SBAR +he PRP B-NP +'d MD B-VP +love VB I-VP +to TO I-VP +be VB I-VP +surgeon NN B-NP +general JJ I-NP +but CC O +could MD B-VP +n't RB I-VP +pass VB I-VP +the DT B-NP +pro-life JJ I-NP +test NN I-NP +. . O + +In IN B-PP +the DT B-NP +case NN I-NP +of IN B-PP +HHS NNP B-NP +Secretary NNP I-NP +Louis NNP I-NP +Sullivan NNP I-NP +, , O +the DT B-NP +litmus NN I-NP +test NN I-NP +could MD B-VP +yet RB I-VP +damage VB I-VP +issues NNS B-NP +important JJ B-ADJP +to TO B-PP +other JJ B-NP +parts NNS I-NP +of IN B-PP +the DT B-NP +Republican NNP I-NP +coalition NN I-NP +. . O + +After IN B-SBAR +Mr. NNP B-NP +Sullivan NNP I-NP +waffled VBD B-VP +on IN B-PP +abortion NN B-NP +last JJ B-NP +year NN I-NP +, , O +the DT B-NP +White NNP I-NP +House NNP I-NP +appeased VBD B-VP +right-to-lifers NNS B-NP +by IN B-PP +surrounding VBG B-VP +him PRP B-NP +with IN B-PP +pro-life JJ B-NP +deputies NNS I-NP +. . O + +Their PRP$ B-NP +views NNS I-NP +on IN B-PP +health NN B-NP +care NN I-NP +and CC I-NP +welfare NN I-NP +did VBD B-VP +n't RB I-VP +much JJ I-VP +matter NN I-VP +, , O +though IN B-SBAR +HHS NNP B-NP +spends VBZ B-VP +billions NNS B-NP +a DT B-NP +year NN I-NP +on IN B-PP +both DT B-NP +. . O + +It PRP B-NP +makes VBZ B-VP +only RB B-NP +a DT I-NP +handful NN I-NP +of IN B-PP +abortion-related JJ B-NP +decisions NNS I-NP +. . O + +Though IN B-SBAR +Democrats NNPS B-NP +can MD B-VP +gloat VB I-VP +at IN B-PP +all PDT B-NP +this DT I-NP +for IN B-PP +now RB B-ADVP +, , O +they PRP B-NP +may MD B-VP +want VB I-VP +to TO I-VP +contain VB I-VP +their PRP$ B-NP +glee NN I-NP +. . O + +On IN B-PP +abortion NN B-NP +, , O +their PRP$ B-NP +own JJ I-NP +day NN I-NP +will MD B-VP +come VB I-VP +. . O + +Eventually RB B-ADVP +even RB B-NP +Republicans NNPS I-NP +will MD B-VP +find VB I-VP +a DT B-NP +way NN I-NP +to TO B-VP +frame VB I-VP +the DT B-NP +issue NN I-NP +in IN B-PP +ways NNS B-NP +that WDT B-NP +expose VBP B-VP +pro-choice JJ B-NP +absolutism NN I-NP +. . O + +Does VBZ O +the DT B-NP +candidate NN I-NP +favor NN B-VP +parental JJ B-NP +consent NN I-NP +for IN B-PP +teen-age JJ B-NP +abortions NNS I-NP +? . O + +-LRB- ( O +The DT B-NP +pro-choice JJ I-NP +lobby NN I-NP +does VBZ B-VP +n't RB O +. . O + +-RRB- ) O +What WP O +about IN O +banning VBG B-VP +abortions NNS B-NP +in IN B-PP +the DT B-NP +second JJ I-NP +and CC I-NP +third JJ I-NP +trimesters NNS I-NP +? . O + +-LRB- ( O +The DT B-NP +lobby NN I-NP +says VBZ B-VP +no DT B-INTJ +again RB B-ADVP +. . O +-RRB- ) O + +Democracy NNP B-NP +is VBZ B-VP +forcing VBG I-VP +the DT B-NP +abortion NN I-NP +debate NN I-NP +toward IN B-PP +healthy JJ B-NP +compromise NN I-NP +, , O +toward IN B-PP +the DT B-NP +unpolarizing VBG I-NP +middle NN I-NP +. . O + +Roe NNP B-NP +v. CC B-PP +Wade NNP B-NP +pre-empted VBD B-VP +political JJ B-NP +debate NN I-NP +, , O +so RB O +the DT B-NP +extremes NNS I-NP +blossomed VBD B-VP +. . O + +Now RB B-ADVP +the DT B-NP +ambivalent JJ I-NP +middle NN I-NP +, , O +a DT B-NP +moral JJ I-NP +majority NN I-NP +of IN B-PP +sorts NNS B-NP +, , O +is VBZ B-VP +reasserting VBG I-VP +itself PRP B-NP +. . O + +Within IN B-PP +a DT B-NP +few JJ I-NP +years NNS I-NP +, , O +the DT B-NP +outcome NN I-NP +in IN B-PP +most RBS B-NP +states NNS I-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +that DT O +abortion NN B-NP +will MD B-VP +be VB I-VP +more RBR B-ADJP +restricted VBN I-ADJP +, , B-ADJP +but CC I-ADJP +not RB I-ADJP +completely RB B-ADJP +banned VBN I-ADJP +. . O + +This DT B-NP +is VBZ B-VP +where WRB B-ADVP +the DT B-NP +voters NNS I-NP +are VBP B-VP +, , O +which WDT B-NP +is VBZ B-VP +where WRB B-ADVP +politicians NNS B-NP +usually RB B-ADVP +end VBP B-VP +up RB B-PRT +. . O + +Union NNP B-NP +Pacific NNP I-NP +Corp NNP I-NP +. . I-NP +third-quarter JJ I-NP +net JJ I-NP +income NN I-NP +fell VBD B-VP +17 CD B-NP +% NN I-NP +. . O + +Excluding VBG B-VP +earnings NNS B-NP +from IN B-PP +discontinued VBN B-NP +operations NNS I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +, , O +net NN B-NP +fell VBD B-VP +only RB B-NP +2 CD I-NP +% NN I-NP +. . O + +The DT B-NP +energy NN I-NP +, , I-NP +natural JJ I-NP +resources NNS I-NP +and CC I-NP +railroad NN I-NP +concern NN I-NP +had VBD B-VP +net NN B-NP +of IN B-PP +$ $ B-NP +137.4 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.35 CD I-NP +a DT B-NP +share NN I-NP +, , O +down RB B-ADVP +from IN B-PP +$ $ B-NP +165 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.44 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +In IN B-PP +the DT B-NP +1988 CD I-NP +third JJ I-NP +quarter NN I-NP +, , O +profit NN B-NP +from IN B-PP +continuing VBG B-NP +operations NNS I-NP +totaled VBD B-VP +$ $ B-NP +140.1 CD I-NP +million CD I-NP +. . O + +A DT B-NP +year NN I-NP +earlier RBR B-ADVP +, , O +the DT B-NP +company NN I-NP +had VBD B-VP +profit NN B-NP +from IN B-PP +discontinued VBN B-NP +operations NNS I-NP +of IN B-PP +$ $ B-NP +24.9 CD I-NP +million CD I-NP +from IN B-PP +sale NN B-NP +of IN B-PP +a DT B-NP +pipeline NN I-NP +, , O +a DT B-NP +refinery NN I-NP +and CC O +an DT B-NP +interest NN I-NP +in IN B-PP +a DT B-NP +second JJ I-NP +refinery NN I-NP +. . O + +Revenue NN B-NP +rose VBD B-VP +2 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +1.58 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +1.54 CD I-NP +billion CD I-NP +. . O + +In IN B-PP +composite JJ B-NP +trading NN I-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +, , O +Union NNP B-NP +Pacific NNP I-NP +jumped VBD B-VP +$ $ B-NP +1.375 CD I-NP +to TO B-PP +$ $ B-NP +75 CD I-NP +a DT B-NP +share NN I-NP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +its PRP$ B-NP +Union NNP I-NP +Pacific NNP I-NP +Railroad NNP I-NP +had VBD B-VP +a DT B-NP +3 CD I-NP +% NN I-NP +profit NN I-NP +increase NN I-NP +, , O +despite IN B-PP +a DT B-NP +14 CD I-NP +% NN I-NP +rise NN I-NP +in IN B-PP +fuel NN B-NP +costs NNS I-NP +and CC O +a DT B-NP +4 CD I-NP +% NN I-NP +drop NN I-NP +in IN B-PP +car NN B-NP +loadings NNS I-NP +. . O + +Most JJS B-NP +of IN B-PP +the DT B-NP +commodity NN I-NP +traffic NN I-NP +was VBD B-VP +off IN B-ADVP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +. . O + +Earnings NNS B-NP +from IN B-PP +continuing VBG B-NP +operations NNS I-NP +of IN B-PP +the DT B-NP +Union NNP I-NP +Pacific NNP I-NP +Resources NNPS I-NP +unit NN I-NP +almost RB B-ADVP +doubled VBD B-VP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +. . O + +It PRP B-NP +added VBD B-VP +that IN B-SBAR +higher JJR B-NP +revenue NN I-NP +, , O +strong JJ B-NP +crude JJ I-NP +oil NN I-NP +prices NNS I-NP +and CC O +higher JJR B-NP +natural JJ I-NP +gas NN I-NP +prices NNS I-NP +offset VBP B-VP +declines NNS B-NP +in IN B-PP +production NN B-NP +of IN B-PP +oil NN B-NP +, , I-NP +gas NN I-NP +and CC I-NP +plant NN I-NP +liquids NNS I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +the DT B-NP +company NN I-NP +cited VBD B-VP +cost-reduction JJ B-NP +moves NNS I-NP +and CC O +interest NN B-NP +income NN I-NP +. . O + +Earnings NNS B-NP +from IN B-PP +Union NNP B-NP +Pacific NNP I-NP +Realty NNP I-NP +dropped VBD B-VP +50 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +3 CD I-NP +million CD I-NP +. . O + +Before IN B-PP +good JJ B-NP +will NN I-NP +, , O +Overnite NNP B-NP +Transportation NNP I-NP +earnings NNS I-NP +fell VBD B-VP +11 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +15 CD I-NP +million CD I-NP +, , O +Union NNP B-NP +Pacific NNP I-NP +said VBD B-VP +. . O + +In IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +net NN B-NP +fell VBD B-VP +6.3 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +427.7 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +3.98 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +456.4 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +4 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Profit NN B-NP +from IN B-PP +continuing VBG B-NP +operations NNS I-NP +in IN B-PP +the DT B-NP +year-earlier JJ I-NP +period NN I-NP +was VBD B-VP +$ $ B-NP +402.7 CD I-NP +million CD I-NP +. . O + +Revenue NN B-NP +was VBD B-VP +$ $ B-NP +4.75 CD I-NP +billion CD I-NP +, , O +up IN B-ADVP +6 CD B-NP +% NN I-NP +from IN B-PP +$ $ B-NP +4.49 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +Federal NNP I-NP +Trade NNP I-NP +Commission NNP I-NP +ruled VBD B-VP +that IN B-SBAR +five CD B-NP +major JJ I-NP +title-insurance JJ I-NP +companies NNS I-NP +illegally RB B-ADVP +fixed VBN B-VP +prices NNS B-NP +for IN B-PP +title NN B-NP +search-and-examination JJ I-NP +services NNS I-NP +by IN B-PP +participating VBG B-VP +in IN B-PP +joint JJ B-NP +`` `` I-NP +rating NN I-NP +bureaus NN I-NP +'' '' O +in IN B-PP +six CD B-NP +states NNS I-NP +. . O + +The DT B-NP +FTC NNP I-NP +ordered VBD B-VP +the DT B-NP +companies NNS I-NP +not RB O +to TO B-VP +use VB I-VP +rating NN B-NP +bureaus NN I-NP +in IN B-PP +those DT B-NP +six CD I-NP +states NNS I-NP +. . O + +The DT B-NP +commission NN I-NP +order NN I-NP +named VBD B-VP +the DT B-NP +following VBG I-NP +companies NNS I-NP +: : O +Ticor NNP B-NP +Title NNP I-NP +Insurance NNP I-NP +Co. NNP I-NP +of IN B-PP +California NNP B-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +Los NNP B-NP +Angeles-based JJ I-NP +Ticor NNP I-NP +; : O +Chicago NNP B-NP +Title NNP I-NP +Insurance NNP I-NP +Co. NNP I-NP +and CC O +Safeco NNP B-NP +Title NNP I-NP +Insurance NNP I-NP +Co. NNP I-NP +, , O +units NNS B-NP +of IN B-PP +Chicago NNP B-NP +Title NN I-NP +& CC I-NP +Trust NNP I-NP +Co. NNP I-NP +; : O +Lawyers NNS B-NP +Title NNP I-NP +Insurance NNP I-NP +Corp. NNP I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +Richmond NNP B-NP +, , I-NP +Va.-based JJ I-NP +Universal NNP I-NP +Corp. NNP I-NP +; : O +and CC O +Stewart NNP B-NP +Title NNP I-NP +Guaranty NNP I-NP +Co. NNP I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +Houston-based NNP B-NP +Stewart NNP I-NP +Information NNP I-NP +Services NNP I-NP +Corp NNP I-NP +. . O + +Chicago NNP B-NP +Title NN I-NP +& CC I-NP +Trust NNP I-NP +acquired VBD B-VP +Safeco NNP B-NP +in IN B-PP +1987 CD B-NP +and CC O +changed VBD B-VP +the DT B-NP +unit NN I-NP +'s POS B-NP +name NN I-NP +to TO B-PP +Security NNP B-NP +Union NNP I-NP +Title NNP I-NP +Insurance NNP I-NP +Co NNP I-NP +. . O + +The DT B-NP +FTC NNP I-NP +ruled VBD B-VP +that IN B-SBAR +the DT B-NP +companies NNS I-NP +violated VBD B-VP +federal JJ B-NP +antitrust JJ I-NP +law NN I-NP +by IN B-PP +fixing VBG B-VP +rates NNS B-NP +in IN B-PP +the DT B-NP +following VBG I-NP +states NNS I-NP +: : O +New NNP B-NP +Jersey NNP I-NP +, , O +Pennsylvania NNP B-NP +, , O +Connecticut NNP B-NP +, , O +Wisconsin NNP B-NP +, , O +Arizona NNP B-NP +and CC O +Montana NNP B-NP +. . O + +The DT B-NP +FTC NNP I-NP +first RB B-ADVP +issued VBN B-VP +an DT B-NP +administrative JJ I-NP +complaint NN I-NP +in IN B-PP +the DT B-NP +case NN I-NP +in IN B-PP +1985 CD B-NP +. . O + +John NNP B-NP +Christie NNP I-NP +, , O +a DT B-NP +lawyer NN I-NP +here RB B-ADVP +for IN B-PP +the DT B-NP +two CD I-NP +Chicago NNP I-NP +Title NN I-NP +& CC I-NP +Trust NNP I-NP +units NNS I-NP +accused VBD B-VP +the DT B-NP +FTC NNP I-NP +of IN B-PP +`` `` B-VP +second-guessing NN I-VP +'' '' O +state-level JJ B-NP +regulations NNS I-NP +, , O +with IN B-PP +which WDT B-NP +, , O +he PRP B-NP +said VBD B-VP +, , O +his PRP$ B-NP +clients NNS I-NP +had VBD B-VP +complied VBN I-VP +. . O + +`` `` O +I PRP B-NP +expect VBP B-VP +all PDT B-NP +the DT I-NP +companies NNS I-NP +to TO B-VP +appeal VB I-VP +, , O +'' '' O +he PRP B-NP +added VBD B-VP +. . O + +A DT B-NP +lawyer NN I-NP +for IN B-PP +Lawyers NNS B-NP +Title NN I-NP +said VBD B-VP +that IN B-SBAR +, , O +because IN B-SBAR +the DT B-NP +named VBN I-NP +companies NNS I-NP +no RB B-ADVP +longer RB I-ADVP +use VBP B-VP +the DT B-NP +type NN I-NP +of IN B-PP +cooperative JJ B-NP +rating NN I-NP +bureaus NN I-NP +attacked VBN B-VP +by IN B-PP +the DT B-NP +FTC NNP I-NP +, , O +the DT B-NP +commission NN I-NP +'s POS B-NP +order NN I-NP +wo MD B-VP +n't RB I-VP +have VB I-VP +much JJ B-NP +practical JJ I-NP +impact NN I-NP +. . O + +Officials NNS B-NP +for IN B-PP +the DT B-NP +other JJ I-NP +named VBN I-NP +companies NNS I-NP +did VBD B-VP +n't RB I-VP +return VB I-VP +telephone NN B-NP +calls VBZ I-NP +seeking VBG B-VP +comment VB B-NP +. . O + +MARK NNP B-NP +RESOURCES NNP I-NP +INC. NNP I-NP +, , O +Calgary NNP B-NP +, , O +Alberta NNP B-NP +, , O +said VBD B-VP +it PRP B-NP +agreed VBD B-VP +to TO I-VP +sell VB I-VP +75 CD B-NP +million CD I-NP +Canadian JJ I-NP +dollars NNS I-NP +-LRB- ( O +US$ $ B-NP +63.9 CD I-NP +million CD I-NP +-RRB- ) O +of IN B-PP +8 CD B-NP +% NN I-NP +convertible JJ I-NP +debentures NNS I-NP +to TO B-PP +a DT B-NP +group NN I-NP +of IN B-PP +securities NNS B-NP +dealers NNS I-NP +. . O + +Mark NNP B-NP +, , O +an DT B-NP +oil NN I-NP +and CC I-NP +gas NN I-NP +concern NN I-NP +, , O +said VBD B-VP +the DT B-NP +15-year JJ I-NP +debentures NNS I-NP +are VBP B-VP +convertible JJ B-ADJP +before IN B-PP +maturity NN B-NP +at IN B-PP +C$ $ B-NP +12.50 CD I-NP +for IN B-PP +each DT B-NP +Mark NNP I-NP +common JJ I-NP +share NN I-NP +, , O +and CC O +can MD B-VP +be VB I-VP +redeemed VBN I-VP +at IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +option NN I-NP +, , O +under IN B-PP +certain JJ B-NP +conditions NNS I-NP +, , O +after IN B-PP +Nov. NNP B-NP +30 CD I-NP +, , I-NP +1992 CD I-NP +. . O + +The DT B-NP +government NN I-NP +will MD B-VP +try VB I-VP +to TO I-VP +sell VB I-VP +all PDT B-NP +the DT I-NP +real JJ I-NP +estate NN I-NP +managed VBN B-VP +by IN B-PP +the DT B-NP +Federal NNP I-NP +Asset NNP I-NP +Disposition NNP I-NP +Association NNP I-NP +in IN B-PP +one CD B-NP +fell VBD I-NP +swoop NN I-NP +, , O +said VBD B-VP +William NNP B-NP +Seidman NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +the DT B-NP +Federal NNP I-NP +Deposit NNP I-NP +Insurance NNP I-NP +Corp NNP I-NP +. . O + +The DT B-NP +FADA NNP I-NP +real-estate NN I-NP +package NN I-NP +, , O +with IN B-PP +an DT B-NP +asking VBG I-NP +price NN I-NP +of IN B-PP +$ $ B-NP +428 CD I-NP +million CD I-NP +, , O +is VBZ B-VP +comprised VBN I-VP +of IN B-PP +150 CD B-NP +properties NNS I-NP +in IN B-PP +Texas NNP B-NP +, , I-NP +California NNP I-NP +, , I-NP +Colorado NNP I-NP +, , I-NP +Arizona NNP I-NP +and CC I-NP +Florida NNP I-NP +. . O + +It PRP B-NP +includes VBZ B-VP +apartments NNS B-NP +, , O +shopping NN B-NP +centers NNS I-NP +, , O +office NN B-NP +buildings NNS I-NP +and CC O +undeveloped JJ B-NP +land NN I-NP +. . O + +Mr. NNP B-NP +Seidman NNP I-NP +is VBZ B-VP +chairman NN B-NP +of IN B-PP +the DT B-NP +Resolution NNP I-NP +Trust NNP I-NP +Corp. NNP I-NP +, , O +established VBN B-VP +to TO B-VP +sell VB I-VP +or CC I-VP +merge VB I-VP +the DT B-NP +nation NN I-NP +'s POS B-NP +hundreds NNS I-NP +of IN B-PP +insolvent JJ B-NP +savings-and-loan JJ I-NP +associations NNS I-NP +. . O + +The DT B-NP +RTC NNP I-NP +, , O +created VBN B-VP +by IN B-PP +this DT B-NP +year NN I-NP +'s POS B-NP +S&L NNP I-NP +bailout NN I-NP +legislation NN I-NP +, , O +is VBZ B-VP +trying VBG I-VP +to TO I-VP +sell VB I-VP +FADA NNP B-NP +'s POS B-NP +network NN I-NP +of IN B-PP +offices NNS B-NP +separately RB B-ADVP +. . O + +FADA NNP B-NP +, , O +which WDT B-NP +holds VBZ B-VP +problem NN B-NP +assets NNS I-NP +of IN B-PP +thrifts NNS B-NP +that WDT B-NP +were VBD B-VP +closed VBN I-VP +before IN B-SBAR +the DT B-NP +bailout NN I-NP +legislation NN I-NP +was VBD B-VP +enacted VBN I-VP +, , O +is VBZ B-VP +being VBG I-VP +liquidated VBN I-VP +. . O + +The DT B-NP +properties NNS I-NP +held VBN B-VP +by IN B-PP +FADA NNP B-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +sold VBN I-VP +piecemeal RB B-ADVP +, , O +Mr. NNP B-NP +Seidman NNP I-NP +said VBD B-VP +in IN B-PP +a DT B-NP +speech NN I-NP +before IN B-PP +Southern NNP B-NP +Methodist NNP I-NP +University NNP I-NP +Business NNP I-NP +School NNP I-NP +in IN B-PP +Dallas NNP B-NP +. . O + +`` `` O +You PRP B-NP +need VBP B-VP +to TO I-VP +buy VB I-VP +the DT B-NP +entire JJ I-NP +lot NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Seidman NNP I-NP +said VBD B-VP +, , O +`` `` O +so RB O +get VB B-VP +out RP B-PRT +your PRP$ B-NP +checkbooks NNS I-NP +. . O + +The DT B-NP +following VBG I-NP +were VBD B-VP +among IN B-PP +yesterday NN B-NP +'s POS B-NP +offerings NNS I-NP +and CC I-NP +pricings NNS I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +and CC I-NP +non-U.S. JJ I-NP +capital NN I-NP +markets NNS I-NP +, , O +with IN B-PP +terms NNS B-NP +and CC O +syndicate NN B-NP +manager NN I-NP +, , O +as IN B-SBAR +compiled VBN B-VP +by IN B-PP +Dow NNP B-NP +Jones NNP I-NP +Capital NNP I-NP +Markets NNP I-NP +Report NNP I-NP +: : O + +Sequa NNP B-NP +Corp. NNP I-NP +-- : O +$ $ B-NP +150 CD I-NP +million CD I-NP +of IN B-PP +9 CD B-NP +5\/8 CD I-NP +% NN I-NP +notes NNS I-NP +due JJ B-ADJP +Oct. NNP B-NP +15 CD I-NP +, , I-NP +1999 CD I-NP +, , O +priced VBN B-VP +at IN B-PP +99.75 CD B-NP +to TO B-VP +yield VB I-VP +9.664 CD B-NP +% NN I-NP +. . O + +The DT B-NP +noncallable JJ I-NP +issue NN I-NP +was VBD B-VP +priced VBN I-VP +at IN B-PP +a DT B-NP +spread NN I-NP +of IN B-PP +170 CD B-NP +basis NN I-NP +points NNS I-NP +above IN B-PP +the DT B-NP +Treasury NNP I-NP +'s POS B-NP +10-year JJ I-NP +note NN I-NP +. . O + +Rated VBN B-VP +Baa-2 JJ B-ADJP +by IN B-PP +Moody NNP B-NP +'s POS B-NP +Investors NNP I-NP +Service NNP I-NP +Inc. NNP I-NP +and CC O +triple-B-minus NNP B-ADJP +by IN B-PP +Standard NNP B-NP +& CC I-NP +Poor NNP I-NP +'s POS B-NP +Corp. NNP I-NP +, , O +the DT B-NP +issue NN I-NP +will MD B-VP +be VB I-VP +sold VBN I-VP +through IN B-PP +underwriters NNS B-NP +led VBN B-VP +by IN B-PP +Merrill NNP B-NP +Lynch NNP I-NP +Capital NNP I-NP +Markets NNPS I-NP +. . O + +Virginia NNP B-NP +Public NNP I-NP +School NNP I-NP +Authority NNP I-NP +-- : O +$ $ B-NP +55.7 CD I-NP +million CD I-NP +of IN B-PP +school NN B-NP +financing NN I-NP +bonds NNS I-NP +, , O +1989 CD B-NP +Series NNP I-NP +B NNP I-NP +-LRB- ( O +1987 CD B-NP +resolution NN I-NP +-RRB- ) O +, , O +due JJ B-ADJP +19912000 CD B-NP +, , I-NP +2005 CD I-NP +and CC I-NP +2010 CD I-NP +, , O +through IN B-PP +a DT B-NP +BT NNP I-NP +Securities NNP I-NP +Corp. NNP I-NP +group NN I-NP +. . O + +The DT B-NP +bonds NNS I-NP +, , O +rated VBN B-VP +double-A JJ B-ADJP +by IN B-PP +Moody NNP B-NP +'s POS B-NP +and CC O +S&P NNP B-NP +, , O +were VBD B-VP +priced VBN I-VP +to TO B-VP +yield VB I-VP +from IN B-PP +6 CD B-NP +% NN I-NP +in IN B-PP +1991 CD B-NP +to TO B-PP +7.10 CD B-NP +% NN I-NP +in IN B-PP +2010 CD B-NP +. . O + +Serial JJ B-NP +bonds NNS I-NP +were VBD B-VP +priced VBN I-VP +to TO B-VP +yield VB I-VP +to TO B-PP +6.75 CD B-NP +% NN I-NP +in IN B-PP +2000 CD B-NP +. . O + +Bonds NNS B-NP +due JJ B-ADJP +1991-1996 CD B-NP +carry VB B-VP +6.70 CD B-NP +% NN I-NP +coupons NNS I-NP +and CC O +bonds NNS B-NP +due JJ B-ADJP +1997-2000 CD B-NP +carry VB B-VP +6 CD B-NP +3\/4 CD I-NP +% NN I-NP +coupons NNS I-NP +. . O + +Term NN B-NP +bonds NNS I-NP +due JJ B-ADJP +2005 CD B-NP +are VBP B-VP +n't RB I-VP +being VBG I-VP +formally RB I-VP +reoffered VBN I-VP +. . O + +They PRP B-NP +carry VBP B-VP +a DT B-NP +7 CD I-NP +% NN I-NP +coupon NN I-NP +. . O + +Term NN B-NP +bonds NNS I-NP +due JJ B-ADJP +2010 CD B-NP +are VBP B-VP +7.10 CD B-NP +% NN I-NP +securities NNS I-NP +priced VBN B-VP +at IN B-PP +par NN B-NP +. . O + +St. NNP B-NP +Johns NNP I-NP +River NNP I-NP +Water NNP I-NP +Management NNP I-NP +District NNP I-NP +, , O +Fla. NNP B-NP +-- : O +$ $ B-NP +50,005,000 CD I-NP +of IN B-PP +land NN B-NP +acquisition NN I-NP +revenue NN I-NP +bonds NNS I-NP +, , O +Series NNP B-NP +1989 CD I-NP +, , O +due JJ B-ADJP +1990-2000 CD B-NP +, , I-NP +2003 CD I-NP +, , I-NP +2006 CD I-NP +and CC I-NP +2009 CD I-NP +, , O +tentatively RB B-VP +priced VBN I-VP +by IN B-PP +a DT B-NP +Smith NNP I-NP +Barney NNP I-NP +, , I-NP +Harris NNP I-NP +Upham NNP I-NP +& CC I-NP +Co. NNP I-NP +group NN I-NP +to TO B-VP +yield VB I-VP +from IN B-PP +6 CD B-NP +% NN I-NP +in IN B-PP +1990 CD B-NP +to TO B-PP +about IN B-NP +7.03 CD I-NP +% NN I-NP +in IN B-PP +2003 CD B-NP +. . O + +There EX B-NP +are VBP B-VP +$ $ B-NP +9.76 CD I-NP +million CD I-NP +of IN B-PP +7 CD B-NP +% NN I-NP +term NN I-NP +bonds NNS I-NP +due JJ B-ADJP +2003 CD B-NP +, , O +priced VBN B-VP +at IN B-PP +99 CD B-NP +3\/4 CD I-NP +to TO B-VP +yield VB I-VP +about IN B-NP +7.03 CD I-NP +% NN I-NP +. . O + +The DT B-NP +$ $ I-NP +11,775,000 CD I-NP +of IN B-PP +term NN B-NP +bonds NNS I-NP +due JJ B-ADJP +2006 CD B-NP +and CC O +the DT B-NP +$ $ I-NP +13,865,000 CD I-NP +of IN B-PP +term NN B-NP +bonds NNS I-NP +due JJ B-ADJP +2009 CD B-NP +are VBP B-VP +n't RB I-VP +being VBG I-VP +formally RB I-VP +reoffered VBN I-VP +. . O + +Serial JJ B-NP +bonds NNS I-NP +were VBD B-VP +priced VBN I-VP +at IN B-PP +par NN B-NP +to TO B-VP +yield VB I-VP +to TO B-PP +6.90 CD B-NP +% NN I-NP +in IN B-PP +2000 CD B-NP +. . O + +The DT B-NP +bonds NNS I-NP +are VBP B-VP +insured VBN I-VP +and CC O +rated VBN B-VP +triple-A JJ B-ADJP +by IN B-PP +Moody NNP B-NP +'s POS B-NP +and CC O +S&P NNP B-NP +. . O + +Federal NNP B-NP +Home NNP I-NP +Loan NNP I-NP +Mortgage NNP I-NP +Corp. NNP I-NP +-- : O +$ $ B-NP +500 CD I-NP +million CD I-NP +of IN B-PP +Remic NNP B-NP +mortgage NN I-NP +securities NNS I-NP +being VBG B-VP +offered VBN I-VP +in IN B-PP +12 CD B-NP +classes NNS I-NP +by IN B-PP +Salomon NNP B-NP +Brothers NNP I-NP +Inc NNP I-NP +. . O + +The DT B-NP +offering NN I-NP +, , O +Series NNP B-NP +105 CD I-NP +, , O +is VBZ B-VP +backed VBN I-VP +by IN B-PP +Freddie NNP B-NP +Mac NNP I-NP +9 CD I-NP +1\/2 CD I-NP +% NN I-NP +securities NNS I-NP +. . O + +Separately RB B-ADVP +, , O +$ $ B-NP +400 CD I-NP +million CD I-NP +of IN B-PP +Freddie NNP B-NP +Mac NNP I-NP +Remic NNP I-NP +mortgage NN I-NP +securities NNS I-NP +is VBZ B-VP +being VBG I-VP +offered VBN I-VP +in IN B-PP +10 CD B-NP +classes NNS I-NP +by IN B-PP +Kidder NNP B-NP +, , I-NP +Peabody NNP I-NP +& CC I-NP +Co NNP I-NP +. . O + +The DT B-NP +offering NN I-NP +, , O +Series NNP B-NP +106 CD I-NP +, , O +is VBZ B-VP +backed VBN I-VP +by IN B-PP +Freddie NNP B-NP +Mac NNP I-NP +9 CD I-NP +1\/2 CD I-NP +% NN I-NP +securities NNS I-NP +. . O + +According VBG B-PP +to TO B-PP +available JJ B-NP +details NNS I-NP +, , O +yields NNS B-NP +range VBP B-VP +from IN B-PP +8.70 CD B-NP +% NN I-NP +, , O +a DT B-NP +spread NN I-NP +of IN B-PP +80 CD B-NP +basis NN I-NP +points NNS I-NP +over IN B-PP +three-year JJ B-NP +Treasury NNP I-NP +securities NNS I-NP +, , O +to TO B-PP +10.37 CD B-NP +% NN I-NP +, , O +a DT B-NP +spread NN I-NP +of IN B-PP +230 CD B-NP +basis NN I-NP +points NNS I-NP +over IN B-PP +20-year JJ B-NP +Treasurys NNPS I-NP +. . O + +The DT B-NP +offerings NNS I-NP +bring VBP B-VP +Freddie NNP B-NP +Mac NNP I-NP +'s POS B-NP +1989 CD I-NP +Remic NNP I-NP +issuance NN I-NP +to TO B-PP +$ $ B-NP +32.6 CD I-NP +billion CD I-NP +and CC O +its PRP$ B-NP +total JJ I-NP +volume NN I-NP +to TO B-PP +$ $ B-NP +46.5 CD I-NP +billion CD I-NP +since IN B-SBAR +the DT B-NP +program NN I-NP +began VBD B-VP +in IN B-PP +February NNP B-NP +1988 CD I-NP +. . O + +European NNP B-NP +Investment NNP I-NP +Bank NNP I-NP +-LRB- ( O +agency NN B-NP +-RRB- ) O +-- : O +200 CD B-NP +billion CD I-NP +lire NNS I-NP +of IN B-PP +12 CD B-NP +% NN I-NP +bonds NNS I-NP +due JJ B-ADJP +Nov. NNP B-NP +16 CD I-NP +, , I-NP +1995 CD I-NP +, , O +priced VBN B-VP +at IN B-PP +101 CD B-NP +3\/4 CD I-NP +to TO B-VP +yield VB I-VP +12 CD B-NP +% NN I-NP +less RBR B-PP +full JJ B-NP +fees NNS I-NP +, , O +via IN B-PP +lead NN B-NP +manager NN I-NP +Banco NNP I-NP +Commercial NNP I-NP +Italiana NNP I-NP +. . O + +Fees NNS B-NP +1 CD B-NP +3\/4 CD I-NP +. . O + +IBM NNP B-NP +International NNP I-NP +Finance NNP I-NP +-LRB- ( O +U.S. NNP B-NP +parent NN I-NP +-RRB- ) O +-- : O +125 CD B-NP +million CD I-NP +European JJ I-NP +currency NN I-NP +units NNS I-NP +of IN B-PP +9 CD B-NP +1\/8 CD I-NP +% NN I-NP +bonds NNS I-NP +due JJ B-ADJP +Nov. NNP B-NP +10 CD I-NP +, , I-NP +1994 CD I-NP +, , O +priced VBN B-VP +at IN B-PP +101 CD B-NP +5\/8 CD I-NP +to TO B-VP +yield VB I-VP +9.13 CD B-NP +% NN I-NP +at IN B-PP +the DT B-NP +recommended VBN I-NP +reoffered VBN I-NP +price NN I-NP +of IN B-PP +par NN B-NP +, , O +via IN B-PP +Banque NNP B-NP +Paribas NNP I-NP +Capital NNP I-NP +Markets NNPS I-NP +. . O + +Societe NNP B-NP +Generale NNP I-NP +Australia NNP I-NP +Ltd NNP I-NP +. . O +-LRB- ( O +French JJ B-NP +parent NN I-NP +-RRB- ) O +-- : O +50 CD B-NP +million CD I-NP +Australian JJ I-NP +dollars NNS I-NP +of IN B-PP +17 CD B-NP +% NN I-NP +bonds NNS I-NP +due JJ B-ADJP +Nov. NNP B-NP +20 CD I-NP +, , I-NP +1991 CD I-NP +, , O +priced VBN B-VP +at IN B-PP +101.90 CD B-NP +to TO B-VP +yield VB I-VP +16.59 CD B-NP +less JJR B-PP +fees NNS B-NP +, , O +via IN B-PP +Westpac NNP B-NP +Banking NNP I-NP +Corp NNP I-NP +. . O + +Guaranteed VBN B-VP +by IN B-PP +Societe NNP B-NP +Generale NNP I-NP +. . O + +Fees NNS B-NP +1 CD B-NP +1\/4 CD I-NP +. . O + +Mitsubishi NNP B-NP +Trust NNP I-NP +& CC I-NP +Banking NNP I-NP +Corp NNP I-NP +. . O +-LRB- ( O +Japan NNP B-NP +-RRB- ) O +-- : O +200 CD B-NP +million CD I-NP +Swiss JJ I-NP +francs NNS I-NP +of IN B-PP +privately RB B-NP +placed VBN I-NP +convertible JJ I-NP +notes NNS I-NP +due JJ B-ADJP +March NNP B-NP +31 CD I-NP +, , I-NP +1994 CD I-NP +, , O +with IN B-PP +a DT B-NP +fixed VBN I-NP +0.75 CD I-NP +% NN I-NP +coupon NN I-NP +at IN B-PP +par NN B-NP +, , O +via IN B-PP +Union NNP B-NP +Bank NNP I-NP +of IN B-PP +Switzerland NNP B-NP +. . O + +Put VB B-NP +option NN I-NP +on IN B-PP +March NNP B-NP +31 CD I-NP +, , I-NP +1992 CD I-NP +, , O +at IN B-PP +a DT B-NP +fixed VBN I-NP +107 CD I-NP +3\/4 CD I-NP +to TO B-VP +yield VB I-VP +3.5 CD B-NP +% NN I-NP +. . O + +Callable JJ B-ADJP +from IN B-PP +March NNP B-NP +31 CD I-NP +, , I-NP +1992 CD I-NP +, , O +at IN B-PP +107 CD B-NP +3\/4 CD I-NP +, , O +declining VBG B-VP +two CD B-NP +points NNS I-NP +semi-annually RB B-ADVP +to TO B-PP +par NN B-NP +. . O + +Each DT B-NP +50,000 CD I-NP +Swiss JJ I-NP +franc NN I-NP +note NN I-NP +is VBZ B-VP +convertible JJ B-ADJP +from IN B-PP +Nov NNP B-NP +, , I-NP +27 CD I-NP +, , I-NP +1989 CD I-NP +, , O +to TO B-PP +March NNP B-NP +21 CD I-NP +, , I-NP +1994 CD I-NP +, , O +at IN B-PP +a DT B-NP +premium NN I-NP +over IN B-PP +the DT B-NP +closing VBG I-NP +share NN I-NP +price NN I-NP +Oct. NNP B-NP +25 CD I-NP +, , O +when WRB B-ADVP +terms NNS B-NP +are VBP B-VP +scheduled VBN I-VP +to TO I-VP +be VB I-VP +fixed VBN I-VP +. . O + +Also RB B-ADVP +, , O +the DT B-NP +company NN I-NP +issued VBN B-VP +300 CD B-NP +million CD I-NP +marks NNS I-NP +of IN B-PP +convertible JJ B-NP +bonds NNS I-NP +with IN B-PP +an DT B-NP +indicated VBD I-NP +2 CD I-NP +3\/4 CD I-NP +% NN I-NP +coupon NN I-NP +due JJ B-ADJP +March NNP B-NP +31 CD I-NP +, , I-NP +1995 CD I-NP +, , O +at IN B-PP +par NN B-NP +, , O +via IN B-PP +Westdeutsche NNP B-NP +Landesbank NNP I-NP +Girozentrale NNP I-NP +Bank NNP I-NP +. . O + +Put VB B-NP +on IN B-PP +March NNP B-NP +31 CD I-NP +, , I-NP +1992 CD I-NP +, , O +at IN B-PP +an DT B-NP +indicated VBD I-NP +105 CD I-NP +to TO B-VP +yield VB I-VP +4.80 CD B-NP +% NN I-NP +. . O + +Call VB B-NP +option NN I-NP +beginning VBG B-VP +March NNP B-NP +31 CD I-NP +, , I-NP +1992 CD I-NP +, , O +if IN B-SBAR +the DT B-NP +price NN I-NP +of IN B-PP +the DT B-NP +stock NN I-NP +rises VBZ B-VP +more JJR B-NP +than IN I-NP +50 CD I-NP +% NN I-NP +within IN B-PP +30 CD B-NP +trading NN I-NP +days NNS I-NP +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +a DT B-NP +call NN I-NP +option NN I-NP +for IN B-PP +tax NN B-NP +reasons NNS I-NP +. . O + +Each DT B-NP +1,000 CD I-NP +mark NN I-NP +and CC I-NP +10,000 CD I-NP +mark NN I-NP +bond NN I-NP +is VBZ B-VP +convertible JJ B-ADJP +from IN B-PP +Nov. NNP B-NP +27 CD I-NP +, , I-NP +1989 CD I-NP +, , O +to TO B-PP +March NNP B-NP +21 CD I-NP +, , I-NP +1995 CD I-NP +, , O +at IN B-PP +a DT B-NP +price NN I-NP +to TO B-VP +be VB I-VP +determined VBN I-VP +when WRB B-ADVP +terms NNS B-NP +are VBP B-VP +fixed VBN I-VP +Oct. NNP B-NP +25 CD I-NP +. . O + +Scandinavian NNP B-NP +Airlines NNP I-NP +System NNP I-NP +-LRB- ( O +Sweden NNP B-NP +-RRB- ) O +-- : O +100 CD B-NP +million CD I-NP +Swiss JJ I-NP +francs NNS I-NP +of IN B-PP +6 CD B-NP +1\/8 CD I-NP +% NN I-NP +bonds NNS I-NP +due JJ B-ADJP +Nov. NNP B-NP +24 CD I-NP +, , I-NP +1999 CD I-NP +, , O +priced VBN B-VP +at IN B-PP +100 CD B-NP +3\/4 CD I-NP +to TO B-VP +yield VB I-VP +6.03 CD B-NP +% NN I-NP +, , O +via IN B-PP +Union NNP B-NP +Bank NNP I-NP +of IN B-PP +Switzerland NNP B-NP +. . O + +Call VB B-NP +from IN B-PP +Nov. NNP B-NP +24 CD I-NP +, , I-NP +1994 CD I-NP +, , O +at IN B-PP +101 CD B-NP +1\/2 CD I-NP +, , O +declining VBG B-VP +1\/4 CD B-NP +point NN I-NP +a DT B-NP +year NN I-NP +. . O + +Federal NNP B-NP +Home NNP I-NP +Loan NNP I-NP +Mortgage NNP I-NP +Corp. NNP I-NP +-- : O +$ $ B-NP +400 CD I-NP +million CD I-NP +of IN B-PP +10-year JJ B-NP +debentures NNS I-NP +with IN B-PP +a DT B-NP +coupon NN I-NP +rate NN I-NP +of IN B-PP +8.80 CD B-NP +% NN I-NP +, , O +priced VBN B-VP +at IN B-PP +par NN B-NP +. . O + +The DT B-NP +debentures NNS I-NP +, , O +callable JJ B-ADJP +at IN B-PP +par NN B-NP +in IN B-PP +five CD B-NP +years NNS I-NP +, , O +were VBD B-VP +priced VBN I-VP +at IN B-PP +a DT B-NP +yield NN I-NP +spread NN I-NP +of IN B-PP +about IN B-NP +86 CD I-NP +basis NN I-NP +points NNS I-NP +above IN B-PP +the DT B-NP +Treasury NNP I-NP +10-year JJ I-NP +note NN I-NP +. . O + +The DT B-NP +issue NN I-NP +is VBZ B-VP +being VBG I-VP +sold VBN I-VP +through IN B-PP +Freddie NNP B-NP +Mac NNP I-NP +'s POS B-NP +17-member JJ I-NP +securities NNS I-NP +selling VBG I-NP +group NN I-NP +. . O + +The DT B-NP +debentures NNS I-NP +mature NNP B-VP +Oct. NNP B-NP +27 CD I-NP +, , I-NP +1999 CD I-NP +. . O + +The DT B-NP +debentures NNS I-NP +will MD B-VP +be VB I-VP +available JJ B-ADJP +in IN B-PP +book-entry JJ B-NP +form NN I-NP +only RB B-ADVP +in IN B-PP +a DT B-NP +minimum JJ I-NP +amount NN I-NP +of IN B-PP +$ $ B-NP +5,000 CD I-NP +and CC O +additional JJ B-NP +increments NNS I-NP +of IN B-PP +$ $ B-NP +5,000 CD I-NP +. . O + +Interest NN B-NP +will MD B-VP +be VB I-VP +paid VBN I-VP +semi-annually RB B-ADVP +. . O + +First NNP B-ADVP +they PRP B-NP +get VBP B-VP +us PRP B-NP +to TO B-VP +buy VB I-VP +computers NNS B-NP +so IN B-SBAR +we PRP B-NP +can MD B-VP +get VB I-VP +more JJR B-NP +information NN I-NP +. . O + +Then RB B-ADVP +the DT B-NP +computers NNS I-NP +give VBP B-VP +us PRP B-NP +more JJR B-NP +information NN I-NP +than IN B-SBAR +we PRP B-NP +can MD B-VP +ever RB I-VP +read VB I-VP +. . O + +Now RB B-ADVP +they PRP B-NP +plan VBP B-VP +to TO I-VP +sell VB I-VP +us PRP B-NP +products NNS B-NP +that WDT B-NP +sift VBP B-VP +through IN B-PP +all PDT B-NP +the DT I-NP +information NN I-NP +to TO B-VP +give VB I-VP +us PRP B-NP +what WP B-NP +we PRP B-NP +really RB B-ADVP +want VBP B-VP +to TO I-VP +know VB I-VP +. . O + +The DT B-NP +products NNS I-NP +range VBP B-VP +from IN B-PP +computer-edited JJ B-NP +, , I-NP +personal JJ I-NP +newsletters NNS I-NP +to TO B-PP +systems NNS B-NP +that WDT B-NP +sit VBP B-VP +inside IN B-PP +a DT B-NP +personal JJ I-NP +computer NN I-NP +and CC O +pick VB B-VP +stories NNS B-NP +on IN B-PP +selected VBN B-NP +topics NNS I-NP +off IN B-PP +news NN B-NP +wires NNS I-NP +. . O + +`` `` O +Filtered VBN B-NP +news NN I-NP +is VBZ B-VP +what WP B-NP +people NNS B-NP +want VBP B-VP +, , O +'' '' O +says VBZ B-VP +Esther NNP B-NP +Dyson NNP I-NP +, , O +editor NN B-NP +of IN B-PP +Release NNP B-NP +1.0 CD I-NP +, , O +an DT B-NP +industry NN I-NP +newsletter NN I-NP +that IN B-NP +spots VBZ B-VP +new JJ B-NP +developments NNS I-NP +. . O + +`` `` O +Most JJS B-NP +people NNS I-NP +read VBP B-VP +10 CD B-NP +times NNS I-NP +more JJR I-NP +than IN B-PP +necessary JJ B-ADJP +in IN B-SBAR +order NN O +to TO B-VP +find VB I-VP +out IN B-PRT +what WP B-NP +they PRP B-NP +really RB B-ADVP +need VBP B-VP +. . O +'' '' O + +Geoffrey NNP B-NP +Goodfellow NNP I-NP +, , O +who WP B-NP +dropped VBD B-VP +out IN B-PP +of IN B-PP +high JJ B-NP +school NN I-NP +back RB B-ADVP +in IN B-PP +the DT B-NP +1970s NNS I-NP +to TO B-VP +manage VB I-VP +a DT B-NP +computer NN I-NP +network NN I-NP +at IN B-PP +a DT B-NP +California NNP I-NP +research NN I-NP +firm NN I-NP +, , O +says VBZ B-VP +: : O +`` `` O +Old NNP B-NP +network NN I-NP +hands NNS I-NP +have VBP B-VP +started VBN I-VP +to TO I-VP +turn VB I-VP +off IN B-PRT +the DT B-NP +network NN I-NP +because IN B-SBAR +they PRP B-NP +do VBP B-VP +n't RB I-VP +have VB I-VP +time NN B-NP +to TO B-VP +wade VB I-VP +through IN B-PP +the DT B-NP +muck NN I-NP +. . O +'' '' O + +Mr. NNP B-NP +Goodfellow NNP I-NP +has VBZ B-VP +started VBN I-VP +a DT B-NP +Menlo NNP I-NP +Park NNP I-NP +, , I-NP +Calif. NNP I-NP +, , I-NP +company NN I-NP +called VBN B-VP +Anterior NNP B-NP +Technology NNP I-NP +that WDT B-NP +provides VBZ B-VP +human JJ B-NP +editors NNS I-NP +for IN B-PP +public JJ B-NP +electronic JJ I-NP +networks NNS I-NP +. . O + +`` `` O +I PRP B-NP +see VBP B-VP +it PRP B-NP +as IN B-PP +a DT B-NP +sewage NN I-NP +treatment NN I-NP +plant NN I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +A DT B-NP +new JJ I-NP +product NN I-NP +, , O +NewsEdge NNP B-NP +, , O +carries VBZ B-VP +five CD B-NP +business NN I-NP +news NN I-NP +wires NNS I-NP +simultaneously RB B-ADVP +into IN B-PP +a DT B-NP +user NN I-NP +'s POS B-NP +computer NN I-NP +and CC O +beeps NNS B-VP +and CC I-VP +flashes NNS I-VP +whenever WRB B-ADVP +an DT B-NP +article NN I-NP +appears VBZ B-VP +that WDT B-NP +is NNS B-VP +of IN B-PP +interest NN B-NP +to TO B-PP +the DT B-NP +user NN I-NP +. . O + +The DT B-NP +product NN I-NP +, , O +developed VBN B-VP +by IN B-PP +Desktop NNP B-NP +Data NNP I-NP +Corp. NNP I-NP +, , O +a DT B-NP +new JJ I-NP +company NN I-NP +based VBN B-VP +in IN B-PP +Waltham NNP B-NP +, , O +Mass. NNP B-NP +, , O +scans VBZ B-VP +the DT B-NP +wires NNS I-NP +looking VBG B-VP +for IN B-PP +articles NNS B-NP +that WDT B-NP +contain VBP B-VP +key JJ B-NP +words NNS I-NP +specified VBN B-VP +by IN B-PP +the DT B-NP +user NN I-NP +. . O + +One CD B-NP +early JJ I-NP +user NN I-NP +, , O +David NNP B-NP +Semmel NNP I-NP +, , O +a DT B-NP +Chicago NNP I-NP +venture NN I-NP +capitalist NN I-NP +and CC O +investor NN B-NP +in IN B-PP +Desktop NNP B-NP +Data NNP I-NP +, , O +says VBZ B-VP +he PRP B-NP +uses VBZ B-VP +it PRP B-NP +to TO B-VP +track VB I-VP +takeover NN B-NP +developments NNS I-NP +. . O + +He PRP B-NP +says VBZ B-VP +he PRP B-NP +told VBD B-VP +NewsEdge NNP B-NP +to TO B-VP +look VB I-VP +for IN B-PP +stories NNS B-NP +containing VBG B-VP +such JJ B-NP +words NNS I-NP +as IN B-PP +takeover NN B-NP +, , I-NP +acquisition NN I-NP +, , I-NP +acquire VB I-NP +, , I-NP +LBO NNP I-NP +, , I-NP +tender NN I-NP +, , I-NP +merger NN I-NP +, , I-NP +junk NN I-NP +and CC I-NP +halted VBN I-NP +. . O + +`` `` O +I PRP B-NP +'m VBP B-VP +pretty RB B-ADJP +confident JJ I-ADJP +I PRP B-NP +'m VBP B-VP +catching VBG I-VP +everything NN B-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +NewsEdge NNP B-NP +is VBZ B-VP +pricey JJ B-ADJP +: : O +$ $ B-NP +7,500 CD I-NP +a DT B-NP +year NN I-NP +for IN B-PP +a DT B-NP +limited JJ I-NP +version NN I-NP +, , O +$ $ B-NP +40,000 CD I-NP +a DT B-NP +year NN I-NP +if IN B-SBAR +the DT B-NP +cost NN I-NP +of IN B-PP +all PDT B-NP +the DT I-NP +news NN I-NP +wires NNS I-NP +is VBZ B-VP +included VBN I-VP +. . O + +And CC O +it PRP B-NP +works VBZ B-VP +best JJS B-ADVP +in IN B-PP +high-powered JJ B-NP +personal JJ I-NP +computers NNS I-NP +. . O + +But CC O +some DT B-NP +investors NNS I-NP +and CC I-NP +consultants NNS I-NP +who WP B-NP +have VBP B-VP +tried VBN I-VP +it PRP B-NP +are VBP B-VP +enthusiastic JJ B-ADJP +. . O + +Jeffrey NNP B-NP +Tarter NNP I-NP +, , O +editor NN B-NP +of IN B-PP +SoftLetter NNP B-NP +, , O +a DT B-NP +Watertown NNP I-NP +, , I-NP +Mass. NNP I-NP +, , I-NP +industry NN I-NP +newsletter NN I-NP +, , O +says VBZ B-VP +: : O +`` `` O +I PRP B-NP +'ve VBP B-VP +seen VBN I-VP +a DT B-NP +lot NN I-NP +of IN B-PP +people NNS B-NP +fooling VBG B-VP +around IN B-PRT +on IN B-PP +the DT B-NP +fringes NNS I-NP +of IN B-PP +filtering VBG B-NP +information NN I-NP +. . O + +This DT B-NP +is VBZ B-VP +the DT B-NP +first JJ I-NP +time NN I-NP +I PRP B-NP +'ve VBP B-VP +seen VBN I-VP +something NN B-NP +I PRP B-NP +could MD B-VP +imagine VB I-VP +a DT B-NP +lot NN I-NP +of IN B-PP +people NNS B-NP +using VBG B-VP +. . O +'' '' O + +NewsEdge NNP B-NP +uses VBZ B-VP +an DT B-NP +FM NNP I-NP +radio NN I-NP +band NN I-NP +to TO B-VP +carry VB I-VP +news NN B-NP +wires NNS I-NP +provided VBN B-VP +by IN B-PP +Reuters NNP B-NP +, , O +McGraw-Hill NNP B-NP +and CC O +Dow NNP B-NP +Jones NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +PR NNP B-NP +Newswire NNP I-NP +, , O +which WDT B-NP +carries VBZ B-VP +corporate JJ B-NP +press NN I-NP +releases NNS I-NP +. . O + +An DT B-NP +FM NNP I-NP +receiver NN I-NP +attached VBN B-VP +to TO B-PP +a DT B-NP +user NN I-NP +'s POS B-NP +personal JJ I-NP +computer NN I-NP +receives VBZ B-VP +the DT B-NP +information NN I-NP +. . O + +Some DT B-NP +organizations NNS I-NP +have VBP B-VP +devised VBN I-VP +their PRP$ B-NP +own JJ I-NP +systems NNS I-NP +to TO B-VP +sort VB I-VP +through IN B-PP +news NN B-NP +wire NN I-NP +items NNS I-NP +as IN B-SBAR +they PRP B-NP +come VBP B-VP +in RB B-ADVP +. . O + +George NNP B-NP +Goodwin NNP I-NP +, , O +an DT B-NP +account NN I-NP +manager NN I-NP +at IN B-PP +Royal NNP B-NP +Bank NNP I-NP +of IN B-PP +Canada NNP B-NP +, , O +adapted VBD B-VP +a DT B-NP +Lotus NNP I-NP +Development NNP I-NP +Corp. NNP I-NP +program NN I-NP +called VBN B-VP +Agenda NNP B-NP +to TO B-VP +sort VB I-VP +through IN B-PP +international JJ B-NP +news NN I-NP +wires NNS I-NP +. . O + +It PRP B-NP +automatically RB B-ADVP +selects VBZ B-VP +stories NNS B-NP +from IN B-PP +particular JJ B-NP +countries NNS I-NP +for IN B-PP +reading NN B-NP +by IN B-PP +the DT B-NP +international JJ I-NP +bankers NNS I-NP +responsible JJ B-ADJP +for IN B-PP +lending NN B-NP +in IN B-PP +those DT B-NP +areas NNS I-NP +. . O + +For IN B-PP +those DT B-NP +who WP B-NP +do VBP B-VP +n't RB I-VP +need VB I-VP +their PRP$ B-NP +personalized VBN I-NP +information NN I-NP +moment NN B-NP +by IN B-PP +moment NN B-NP +, , O +some DT B-NP +services NNS I-NP +are VBP B-VP +offering VBG I-VP +overnight JJ B-NP +newsletters NNS I-NP +. . O + +Individual NNP B-NP +Inc. NNP I-NP +, , O +a DT B-NP +new JJ I-NP +company NN I-NP +in IN B-PP +Brookline NNP B-NP +, , O +Mass. NNP B-NP +, , O +uses VBZ B-VP +filtering VBG B-NP +technology NN I-NP +developed VBN B-VP +by IN B-PP +Cornell NNP B-NP +University NNP I-NP +computer NN I-NP +scientist NN I-NP +Gerard NNP I-NP +Salton NNP I-NP +, , O +to TO B-VP +automatically RB I-VP +produce VB I-VP +customized VBN B-NP +newsletters NNS I-NP +it PRP B-NP +sends VBZ B-VP +electronically RB B-ADVP +to TO B-PP +subscribers NNS B-NP +by IN B-PP +8 CD B-NP +a.m. NN I-NP +the DT B-NP +next JJ I-NP +day NN I-NP +. . O + +`` `` O +We PRP B-NP +are VBP B-VP +operating VBG I-VP +an DT B-NP +information NN I-NP +refinery NN I-NP +that WDT B-NP +takes VBZ B-VP +a DT B-NP +broad JJ I-NP +stream NN I-NP +of IN B-PP +raw JJ B-NP +data NNS I-NP +and CC O +turns VBZ B-VP +it PRP B-NP +into IN B-PP +actionable JJ B-NP +knowledge NN I-NP +, , O +'' '' O +says VBZ B-VP +Yosi NNP B-NP +Amram NNP I-NP +, , O +founder NN B-NP +and CC I-NP +president NN I-NP +. . O + +The DT B-NP +daily JJ I-NP +newsletter NN I-NP +, , O +which WDT B-NP +is VBZ B-VP +n't RB O +widely RB B-ADJP +available JJ I-ADJP +yet RB B-ADVP +, , O +will MD B-VP +have VB I-VP +a DT B-NP +base NN I-NP +cost NN I-NP +of IN B-PP +$ $ B-NP +2,000 CD I-NP +a DT B-NP +year NN I-NP +and CC O +provides VBZ B-VP +full JJ B-NP +text NN I-NP +of IN B-PP +relevant JJ B-NP +articles NNS I-NP +under IN B-PP +license NN B-NP +agreements NNS I-NP +with IN B-PP +Reuters NNP B-NP +, , O +McGraw NNP B-NP +Hill NNP I-NP +, , O +United NNP B-NP +Press NNP I-NP +International NNP I-NP +, , O +two CD B-NP +press NN I-NP +release NN I-NP +news NN I-NP +wires NNS I-NP +and CC O +Japan NNP B-NP +'s POS B-NP +Kyodo NNP I-NP +news NN I-NP +service NN I-NP +. . O + +One CD B-NP +early JJ I-NP +user NN I-NP +is VBZ B-VP +NEC NNP B-NP +Corp. NNP I-NP +'s POS B-NP +U.S. NNP I-NP +printer NN I-NP +marketing NN I-NP +arm NN I-NP +. . O + +`` `` O +They PRP B-NP +want VBP B-VP +the DT B-NP +full JJ I-NP +press NN I-NP +releases NNS I-NP +on IN B-PP +printer NN B-NP +announcements NNS I-NP +by IN B-PP +their PRP$ B-NP +competition NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Amram NNP I-NP +says VBZ B-VP +. . O + +It PRP B-NP +also RB B-ADVP +tracks VBZ B-VP +personnel NNS B-NP +and CC I-NP +financial JJ I-NP +announcements NNS I-NP +by IN B-PP +NEC NNP B-NP +'s POS B-NP +distributors NNS I-NP +and CC I-NP +customers NNS I-NP +. . O + +Individual NNP B-NP +Inc. NNP I-NP +'s POS B-NP +technology NN I-NP +goes VBZ B-VP +beyond IN B-PP +word NN B-NP +searches NNS I-NP +by IN B-PP +using VBG B-VP +a DT B-NP +computerized JJ I-NP +thesaurus NN I-NP +. . O + +If IN B-SBAR +a DT B-NP +customer NN I-NP +asks VBZ B-VP +for IN B-PP +stories NNS B-NP +about IN B-PP +`` `` O +IBM NNP B-NP +, , O +'' '' O +the DT B-NP +computer NN I-NP +will MD B-VP +also RB I-VP +supply VB I-VP +stories NNS B-NP +that WDT B-NP +mention VBP B-VP +`` `` O +I.B.M. NNP B-NP +, , O +International NNP B-NP +Business NNP I-NP +Machines NNPS I-NP +, , O +or CC O +Big NNP B-NP +Blue NNP I-NP +, , O +'' '' O +Mr. NNP B-NP +Amram NNP I-NP +says VBZ B-VP +. . O + +Moreover RB B-ADVP +, , O +Individual NNP B-NP +Inc. NNP I-NP +'s POS B-NP +computers NNS I-NP +can MD B-VP +weigh VB I-VP +the DT B-NP +value NN I-NP +of IN B-PP +an DT B-NP +article NN I-NP +based VBN B-VP +on IN B-PP +how WRB B-ADVP +closely RB I-ADVP +the DT B-NP +story NN I-NP +matches VBZ B-VP +the DT B-NP +subscriber NN I-NP +'s POS B-NP +interest NN I-NP +area NN I-NP +. . O + +It PRP B-NP +compares VBZ B-VP +the DT B-NP +position NN I-NP +of IN B-PP +key JJ B-NP +words NNS I-NP +in IN B-PP +the DT B-NP +story NN I-NP +; : O +words NNS B-NP +in IN B-PP +the DT B-NP +headline NN I-NP +or CC I-NP +first JJ I-NP +paragraph NN I-NP +get VB B-VP +a DT B-NP +higher JJR I-NP +value NN I-NP +. . O + +And CC O +it PRP B-NP +calculates VBZ B-VP +how WRB B-ADVP +often RB I-ADVP +the DT B-NP +words NNS I-NP +appear VBP B-VP +in IN B-PP +the DT B-NP +story NN I-NP +compared VBN B-PP +with IN B-PP +how WRB B-ADVP +often RB I-ADVP +they PRP B-NP +appear VBP B-VP +in IN B-PP +the DT B-NP +entire JJ I-NP +data NNS I-NP +base VBP I-NP +. . O + +The DT O +higher JJR O +the DT B-NP +ratio NN I-NP +of IN B-PP +hits NNS B-NP +to TO B-PP +total VB B-NP +words NNS I-NP +, , O +the DT O +higher JJR O +the DT B-NP +presumed VBN I-NP +value NN I-NP +to TO B-PP +the DT B-NP +reader NN I-NP +. . O + +Pinpoint NNP B-NP +Information NNP I-NP +Corp. NNP I-NP +, , O +Chantilly NNP B-NP +, , O +Va. NNP B-NP +, , O +a DT B-NP +producer NN I-NP +of IN B-PP +$ $ B-NP +1,800-a-year RB I-NP +personalized VBN I-NP +newsletters NNS I-NP +about IN B-PP +the DT B-NP +computer NN I-NP +industry NN I-NP +that WDT B-NP +started VBD B-VP +full JJ B-NP +operation NN I-NP +last JJ B-NP +month NN I-NP +, , O +relies VBZ B-VP +on IN B-PP +12 CD B-NP +human JJ I-NP +readers NNS I-NP +to TO B-VP +code VB I-VP +news NN B-NP +releases NNS I-NP +by IN B-PP +topic NN B-NP +in IN B-SBAR +order NN O +to TO B-VP +select VB I-VP +items NNS B-NP +for IN B-PP +each DT B-NP +subscriber NN I-NP +. . O + +`` `` O +The DT B-NP +computers NNS I-NP +find VBP B-VP +all PDT B-NP +the DT I-NP +key JJ I-NP +words NNS I-NP +they PRP B-NP +can MD B-VP +, , O +but CC O +the DT B-NP +editors NNS I-NP +confirm VBP B-VP +every DT B-NP +one CD I-NP +. . O + +Computer NNP B-NP +picking VBG I-NP +is VBZ B-VP +n't RB O +perfect JJ B-ADJP +, , O +'' '' O +says VBZ B-VP +Harvey NNP B-NP +Golomb NNP I-NP +, , O +president NN B-NP +and CC I-NP +founder NN I-NP +of IN B-PP +Pinpoint NNP B-NP +. . O + +The DT B-NP +humans NNS I-NP +also RB B-ADVP +write VBP B-VP +abstracts NNS B-NP +of IN B-PP +articles NNS B-NP +from IN B-PP +some DT B-NP +200 CD I-NP +computer NN I-NP +industry NN I-NP +publications NNS I-NP +. . O + +Once RB O +all PDT B-NP +the DT I-NP +articles NNS I-NP +are VBP B-VP +coded VBN I-VP +and CC O +put VB B-VP +in IN B-PP +a DT B-NP +data NNS I-NP +base VBP I-NP +, , O +Pinpoint NNP B-NP +'s POS B-NP +computers NNS I-NP +pick VBP B-VP +the DT B-NP +most RBS I-NP +relevant JJ I-NP +for IN B-PP +each DT B-NP +subscriber NN I-NP +and CC O +lay VBD B-VP +them PRP B-NP +out IN B-PRT +in IN B-PP +a DT B-NP +three-to-five-page JJ I-NP +newsletter NN I-NP +format NN I-NP +; : O +each DT B-NP +newsletter NN I-NP +is VBZ B-VP +sent VBN I-VP +directly RB B-ADVP +from IN B-PP +the DT B-NP +computer NN I-NP +to TO B-PP +the DT B-NP +subscriber NN I-NP +'s POS B-NP +fax NN I-NP +machine NN I-NP +. . O + +Mr. NNP B-NP +Golomb NNP I-NP +says VBZ B-VP +each DT B-NP +of IN B-PP +his PRP$ B-NP +computers NNS I-NP +can MD B-VP +produce VB I-VP +and CC I-VP +send VB I-VP +about IN B-NP +75 CD I-NP +unique JJ I-NP +newsletters NNS I-NP +a DT B-NP +night NN I-NP +. . O + +Many JJ B-NP +computer NN I-NP +network NN I-NP +users NNS I-NP +who WP B-NP +never RB B-ADVP +see VB B-VP +news NN B-NP +wires NNS I-NP +would MD B-VP +like VB I-VP +to TO I-VP +sort VB I-VP +through IN B-PP +their PRP$ B-NP +electronic JJ I-NP +mail NN I-NP +automatically RB B-ADVP +. . O + +So-called JJ B-NP +E-mail NN I-NP +is VBZ B-VP +the DT B-NP +collection NN I-NP +of IN B-PP +inter-office JJ B-NP +memos NNS I-NP +, , O +gossip NN B-NP +, , O +technical JJ B-NP +data NNS I-NP +, , O +schedules NNS B-NP +and CC O +directives NNS B-NP +distributed VBN B-VP +over IN B-PP +local JJ B-NP +and CC I-NP +national JJ I-NP +computer NN I-NP +networks NNS I-NP +. . O + +`` `` O +All DT B-NP +these DT I-NP +interconnected VBN I-NP +computers NNS I-NP +make VBP B-VP +it PRP B-NP +difficult JJ B-ADJP +to TO B-VP +sort VB I-VP +out IN B-PRT +what WP B-NP +'s VBZ B-VP +junk NN B-NP +and CC O +what WP B-NP +'s VBZ B-VP +important JJ B-NP +, , O +'' '' O +says VBZ B-VP +Chuck NNP B-NP +Digate NNP I-NP +, , O +a DT B-NP +former JJ I-NP +Lotus NNP I-NP +Development NNP I-NP +executive NN I-NP +who WP B-NP +has VBZ B-VP +started VBN I-VP +a DT B-NP +new JJ I-NP +company NN I-NP +to TO B-VP +cope VB I-VP +with IN B-PP +the DT B-NP +problem NN I-NP +. . O + +Mr. NNP B-NP +Digate NNP I-NP +says VBZ B-VP +his PRP$ B-NP +firm NN I-NP +, , O +Beyond IN B-NP +Inc. NNP I-NP +, , O +has VBZ B-VP +licensed VBN I-VP +technology NN B-NP +known VBN B-VP +as IN B-PP +Information NNP B-NP +Lens NNP I-NP +from IN B-PP +Massachusetts NNP B-NP +Institute NNP I-NP +of IN B-PP +Technology NNP B-NP +and CC O +plans NNS B-VP +to TO I-VP +develop VB I-VP +it PRP B-NP +for IN B-PP +commercial JJ B-NP +use NN I-NP +. . O + +The DT B-NP +MIT NNP I-NP +project NN I-NP +devised VBD B-VP +ways NNS B-NP +for IN B-SBAR +E-mail NN B-NP +to TO B-VP +be VB I-VP +automatically RB I-VP +categorized VBN I-VP +as IN B-PP +top JJ B-NP +priority NN I-NP +if IN B-SBAR +it PRP B-NP +comes VBZ B-VP +from IN B-PP +certain RB B-NP +designated VBN I-NP +senders NNS I-NP +or CC O +requires VBZ B-VP +action NN B-NP +in IN B-PP +the DT B-NP +next JJ I-NP +couple NN I-NP +of IN B-PP +days NNS B-NP +. . O + +Mr. NNP B-NP +Digate NNP I-NP +says VBZ B-VP +that IN O +Beyond IN B-NP +will MD B-VP +refine VB I-VP +the DT B-NP +product NN I-NP +`` `` O +so RB B-SBAR +the DT B-NP +message NN I-NP +will MD B-VP +be VB I-VP +smart JJ B-ADJP +enough RB I-ADJP +to TO B-VP +know VB I-VP +to TO I-VP +come VB I-VP +back RB B-ADVP +and CC O +bother VB B-VP +you PRP B-NP +again RB B-ADVP +next JJ B-NP +week NN I-NP +. . O +'' '' O + +And CC O +if IN B-SBAR +a DT B-NP +user NN I-NP +is VBZ B-VP +busy JJ B-ADJP +, , O +`` `` O +he PRP B-NP +can MD B-VP +set VB I-VP +it PRP B-NP +for IN B-PP +crisis NN B-NP +mode NN I-NP +: : O +` `` O +Do VBP B-VP +n't RB I-VP +bother VB I-VP +me PRP B-NP +with IN B-PP +reports NNS B-NP +until IN B-PP +Monday NNP B-NP +. . O +' '' O +'' '' O + +A DT B-NP +program NN I-NP +called VBD B-VP +Notes NNS B-NP +, , O +which WDT B-NP +is VBZ B-VP +under IN B-PP +development NN B-NP +by IN B-PP +Lotus NNP B-NP +, , O +also RB B-ADVP +is VBZ B-VP +designed VBN I-VP +to TO B-VP +sort VB I-VP +E-mail NN B-NP +sent VBD B-VP +within IN B-PP +work NN B-NP +groups NNS I-NP +. . O + +One CD B-NP +thing NN I-NP +that WDT B-NP +makes VBZ B-VP +E-mail NN B-NP +difficult JJ B-ADJP +to TO B-VP +sift VB I-VP +through IN B-PP +is VBZ B-VP +that IN B-SBAR +each DT B-NP +item NN I-NP +looks VBZ B-VP +the DT B-NP +same JJ I-NP +. . O + +Notes NNS B-NP +, , O +which WDT B-NP +is VBZ B-VP +designed VBN I-VP +for IN B-PP +advanced VBN B-NP +computers NNS I-NP +that IN B-NP +display NN B-VP +graphics NNS B-NP +, , O +allows VBZ B-VP +mail NN B-NP +senders NNS I-NP +to TO B-VP +put VB I-VP +different JJ B-NP +logos NNS I-NP +on IN B-PP +their PRP$ B-NP +mail NN I-NP +. . O + +A DT B-NP +daily JJ I-NP +news NN I-NP +briefing NN I-NP +from IN B-PP +the DT B-NP +company NN I-NP +librarian NN I-NP +, , O +for IN B-PP +example NN B-NP +, , O +would MD B-VP +have VB I-VP +a DT B-NP +distinctive JJ I-NP +format NN I-NP +on IN B-PP +the DT B-NP +screen NN I-NP +, , O +just RB B-SBAR +as IN I-SBAR +a DT B-NP +paper NN I-NP +version NN I-NP +would MD B-VP +have VB I-VP +. . O + +`` `` O +With IN B-PP +E-mail NN B-NP +, , O +you PRP B-NP +do VBP B-VP +n't RB I-VP +have VB I-VP +the DT B-NP +visual JJ I-NP +clues NNS I-NP +of IN B-PP +paper NN B-NP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Tarter NNP I-NP +, , O +the DT B-NP +editor NN I-NP +of IN B-PP +SoftLetter NNP B-NP +. . O + +`` `` O +With IN B-PP +Notes NNS B-NP +, , O +they PRP B-NP +'re VBP B-VP +visually RB B-ADJP +distinct JJ I-ADJP +. . O + +Dean NNP B-NP +Witter NNP I-NP +Reynolds NNP I-NP +Inc. NNP I-NP +lost VBD B-VP +its PRP$ B-NP +second JJ I-NP +recent JJ I-NP +arbitration NN I-NP +case NN I-NP +involving VBG B-VP +a DT B-NP +former JJ I-NP +bond-trading JJ I-NP +executive NN I-NP +. . O + +A DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +arbitration NN I-NP +panel NN I-NP +ordered VBD B-VP +Dean NNP B-NP +Witter NNP I-NP +to TO B-VP +pay VB I-VP +$ $ B-NP +404,294 CD I-NP +in IN B-PP +back RB B-NP +bonuses VBZ I-NP +to TO B-PP +William NNP B-NP +Kelly NNP I-NP +, , O +the DT B-NP +company NN I-NP +'s POS B-NP +former JJ I-NP +head NN I-NP +of IN B-PP +high-yield JJ B-NP +, , I-NP +high-risk JJ I-NP +junk-bond NN I-NP +trading NN I-NP +and CC I-NP +sales NNS I-NP +. . O + +It PRP B-NP +also RB B-ADVP +awarded VBD B-VP +$ $ B-NP +196,785 CD I-NP +in IN B-PP +back RB B-NP +bonuses VBZ I-NP +to TO B-PP +former JJ B-NP +trader NN I-NP +Michael NNP I-NP +Newcomb NNP I-NP +and CC O +$ $ B-NP +69,105 CD I-NP +in IN B-PP +fees NNS B-NP +to TO B-PP +the DT B-NP +two CD I-NP +men NNS I-NP +'s POS B-NP +attorneys NNS I-NP +. . O + +The DT B-NP +sums NNS I-NP +awarded VBN B-VP +to TO B-PP +Messrs. NNP B-NP +Kelly NNP I-NP +and CC I-NP +Newcomb NNP I-NP +represent VB B-VP +bonuses VBZ B-NP +the DT B-NP +two CD I-NP +men NNS I-NP +said VBD B-VP +they PRP B-NP +deserved VBD B-VP +from IN B-PP +the DT B-NP +first JJ I-NP +half NN I-NP +of IN B-PP +1988 CD B-NP +, , O +but CC O +which WDT B-NP +were VBD B-VP +n't RB I-VP +paid VBN I-VP +because IN B-PP +of IN I-PP +a DT B-NP +dispute NN I-NP +over IN B-PP +an DT B-NP +incentive NN I-NP +contract NN I-NP +. . O + +Jeffrey NNP B-NP +L. NNP I-NP +Liddle NNP I-NP +, , O +the DT B-NP +two CD I-NP +men NNS I-NP +'s POS B-NP +attorney NN I-NP +at IN B-PP +Liddle NNP B-NP +, , I-NP +O'Connor NNP I-NP +, , I-NP +Finkelstein NNP I-NP +& CC I-NP +Robinson NNP I-NP +, , O +said VBD B-VP +Mr. NNP B-NP +Kelly NNP I-NP +began VBD B-VP +working VBG I-VP +at IN B-PP +Dean NNP B-NP +Witter NNP I-NP +in IN B-PP +1987 CD B-NP +. . O + +Mr. NNP B-NP +Kelly NNP I-NP +built VBD B-VP +the DT B-NP +company NN I-NP +'s POS B-NP +high-yield JJ I-NP +bond NN I-NP +group NN I-NP +, , O +which WDT B-NP +has VBZ B-VP +been VBN I-VP +a DT B-NP +minor JJ I-NP +player NN I-NP +in IN B-PP +the DT B-NP +junk-bond NN I-NP +arena NN I-NP +. . O + +Dean NNP B-NP +Witter NNP I-NP +lost VBD B-VP +a DT B-NP +separate JJ I-NP +case NN I-NP +involving VBG B-VP +a DT B-NP +former JJ I-NP +bond NN I-NP +executive NN I-NP +earlier RBR B-NP +this DT I-NP +year NN I-NP +; : O +in IN B-PP +August NNP B-NP +it PRP B-NP +paid VBD B-VP +$ $ B-NP +666,666 CD I-NP +in IN B-PP +back JJ B-NP +pay NN I-NP +and CC O +a DT B-NP +bonus NN I-NP +to TO B-PP +a DT B-NP +former JJ I-NP +corporate-bond JJ I-NP +trading NN I-NP +chief NN I-NP +, , O +Harold NNP B-NP +Bachman NNP I-NP +. . O + +That DT B-NP +award NN I-NP +ended VBD B-VP +a DT B-NP +dispute NN I-NP +between IN B-PP +Dean NNP B-NP +Witter NNP I-NP +and CC O +Mr. NNP B-NP +Bachman NNP I-NP +over IN B-PP +who WP B-NP +was VBD B-VP +responsible JJ B-ADJP +for IN B-PP +certain JJ B-NP +bond-trading JJ I-NP +losses NNS I-NP +around IN B-PP +the DT B-NP +time NN I-NP +of IN B-PP +the DT B-NP +1987 CD I-NP +stock-market NN I-NP +crash NN I-NP +. . O + +A DT B-NP +spokesman NN I-NP +for IN B-PP +Dean NNP B-NP +Witter NNP I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +Sears NNP B-NP +, , I-NP +Roebuck NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +declined VBD B-VP +to TO I-VP +comment VB I-VP +. . O + +DILLARD NNP B-NP +DEPARTMENT NNP I-NP +STORES NNP I-NP +Inc. NNP I-NP +said VBD B-VP +it PRP B-NP +offered VBD B-VP +$ $ B-NP +50 CD I-NP +million CD I-NP +of IN B-PP +9 CD B-NP +1\/2 CD I-NP +% NN I-NP +debentures NNS I-NP +due JJ B-ADJP +2001 CD B-NP +at IN B-PP +par NN B-NP +. . O + +The DT B-NP +Little NNP I-NP +Rock NNP I-NP +, , I-NP +Ark. NNP I-NP +, , I-NP +department-store NN I-NP +retailer NN I-NP +said VBD B-VP +proceeds NNS B-NP +will MD B-VP +be VB I-VP +used VBN I-VP +to TO B-VP +reduce VB I-VP +short-term JJ B-NP +debt NN I-NP +. . O + +Goldman NNP B-NP +, , I-NP +Sachs NNP I-NP +& CC I-NP +Co. NNP I-NP +was VBD B-VP +the DT B-NP +underwriter NN I-NP +. . O + +American NNP B-NP +Brands NNP I-NP +Inc. NNP I-NP +said VBD B-VP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +rose VBD B-VP +13 CD B-NP +% NN I-NP +, , O +reflecting VBG B-VP +strong JJ B-NP +gains NNS I-NP +in IN B-PP +its PRP$ B-NP +tobacco NN I-NP +and CC I-NP +distilled VBN I-NP +spirits NNS I-NP +businesses NNS I-NP +. . O + +The DT B-NP +company NN I-NP +, , O +which WDT B-NP +also RB B-ADVP +has VBZ B-VP +businesses NNS B-NP +in IN B-PP +life NN B-NP +insurance NN I-NP +, , O +office NN B-NP +products NNS I-NP +and CC I-NP +hardware NN I-NP +, , O +and CC O +home-improvement NN B-NP +products NNS I-NP +, , O +said VBD B-VP +net JJ B-NP +income NN I-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +166.4 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.71 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +146.8 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.53 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Year-earlier JJ B-NP +results NNS I-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +and CC O +the DT B-NP +nine CD I-NP +months NNS I-NP +were VBD B-VP +restated VBN I-VP +to TO B-VP +reflect VB I-VP +a DT B-NP +change NN I-NP +in IN B-PP +accounting NN B-NP +standards NNS I-NP +. . O + +Revenue NN B-NP +declined VBD B-VP +2 CD B-NP +% NN I-NP +, , O +to TO B-PP +$ $ B-NP +3.06 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +3.13 CD I-NP +billion CD I-NP +, , O +because IN B-PP +of IN I-PP +the DT B-NP +sale NN I-NP +of IN B-PP +Southland NNP B-NP +Life NNP I-NP +in IN B-PP +March NNP B-NP +, , O +and CC O +the DT B-NP +impact NN I-NP +of IN B-PP +the DT B-NP +stronger JJR I-NP +U.S. NNP I-NP +dollar NN I-NP +on IN B-PP +overseas JJ B-NP +results NNS I-NP +. . O + +Operating NN B-NP +profit NN I-NP +for IN B-PP +world-wide JJ B-NP +tobacco NN I-NP +products NNS I-NP +rose VBD B-VP +10 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +247.6 CD I-NP +million CD I-NP +. . O + +For IN B-PP +distilled VBN B-NP +spirits NNS I-NP +, , O +operating VBG B-NP +profit NN I-NP +rose VBD B-VP +36 CD B-NP +% NN I-NP +, , O +to TO B-PP +$ $ B-NP +24.8 CD I-NP +million CD I-NP +. . O + +In IN B-PP +the DT B-NP +first JJ I-NP +nine CD I-NP +months NNS I-NP +, , O +net NN B-NP +rose VBD B-VP +1.5 CD B-NP +% NN I-NP +, , O +to TO B-PP +$ $ B-NP +458.8 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +4.76 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +452 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +4.50 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +The DT B-NP +year-earlier JJ I-NP +period NN I-NP +included VBD B-VP +$ $ B-NP +40.1 CD I-NP +million CD I-NP +, , O +or CC O +41 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +discontinued VBN B-NP +operations NNS I-NP +. . O + +Revenue NN B-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +9.03 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +8.98 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +average JJ I-NP +number NN I-NP +of IN B-PP +shares NNS B-NP +outstanding JJ B-ADJP +rose VBD B-VP +2 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +but CC O +was VBD B-VP +down RB B-ADVP +4 CD B-NP +% NN I-NP +for IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +. . O + +In IN B-PP +composite JJ B-NP +trading NN I-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +, , O +American NNP B-NP +Brands NNP I-NP +shares NNS I-NP +rose VBD B-VP +$ $ B-NP +1.75 CD I-NP +to TO B-PP +$ $ B-NP +73 CD I-NP +. . O + +SANTA NNP B-NP +FE NNP I-NP +PACIFIC NNP I-NP +PIPELINE NNP I-NP +PARTNERS NNP I-NP +Limited NNP I-NP +Partnership NNP I-NP +, , O +of IN B-PP +Los NNP B-NP +Angeles NNP I-NP +, , O +increased VBD B-VP +its PRP$ B-NP +quarterly JJ I-NP +cash NN I-NP +dividend NN I-NP +to TO B-PP +60 CD B-NP +cents NNS I-NP +a DT B-NP +unit NN I-NP +from IN B-PP +55 NN B-NP +cents NNS I-NP +, , O +payable JJ B-ADJP +Nov. NNP B-NP +14 CD I-NP +to TO B-PP +units NNS B-NP +of IN B-PP +record NN B-NP +Oct. NNP B-NP +31 CD I-NP +. . O + +The DT B-NP +company NN I-NP +is VBZ B-VP +an DT B-NP +independent JJ I-NP +refined-petroleum-products JJ I-NP +pipeline NN I-NP +serving VBG B-VP +six CD B-NP +Western JJ I-NP +states NNS I-NP +. . O + +WASHINGTON NNP B-NP +LIES VBZ B-VP +LOW RB B-ADVP +after IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +'s POS B-NP +roller-coaster NN I-NP +ride NN I-NP +. . O + +Lawmakers NNS B-NP +, , O +haunted VBN B-VP +by IN B-PP +charges NNS B-NP +that IN B-SBAR +some DT B-NP +of IN B-PP +their PRP$ B-NP +comments NNS I-NP +contributed VBD B-VP +to TO B-PP +the DT B-NP +1987 CD I-NP +crash NN I-NP +, , O +generally RB B-ADVP +shy JJ B-VP +away RB B-ADVP +from IN B-PP +calls VBZ B-NP +for IN B-PP +sweeping VBG B-NP +new JJ I-NP +legislation NN I-NP +. . O + +But CC O +a DT B-NP +House NNP I-NP +Energy NNP I-NP +and CC I-NP +Commerce NNP I-NP +subcommittee NN I-NP +will MD B-VP +quiz VB I-VP +SEC NNP B-NP +Chairman NNP I-NP +Breeden NNP I-NP +Wednesday NNP I-NP +, , O +and CC O +Treasury NNP B-NP +Secretary NNP I-NP +Brady NNP I-NP +will MD B-VP +go VB I-VP +before IN B-PP +the DT B-NP +Senate NNP I-NP +Banking NNP I-NP +panel NN I-NP +Thursday NNP B-NP +. . O + +The DT B-NP +market NN I-NP +'s POS B-NP +wild JJ I-NP +week NN I-NP +may MD B-VP +speed VB I-VP +along IN B-PRT +the DT B-NP +market-reform JJ I-NP +legislation NN I-NP +that WDT B-NP +has VBZ B-VP +been VBN I-VP +pending VBG B-ADJP +for IN B-PP +months NNS B-NP +in IN B-PP +the DT B-NP +aftermath NN I-NP +of IN B-PP +the DT B-NP +1987 CD I-NP +crash NN I-NP +. . O + +It PRP B-NP +may MD B-VP +also RB I-VP +expedite VB I-VP +the DT B-NP +SEC NNP I-NP +'s POS B-NP +modest JJ I-NP +pending VBG I-NP +changes NNS I-NP +in IN B-PP +junk-bond NN B-NP +disclosure NN I-NP +rules NNS I-NP +and CC O +intensify VB B-VP +the DT B-NP +Treasury NNP I-NP +'s POS B-NP +look NN I-NP +at IN B-PP +plans NNS B-NP +for IN B-PP +giving VBG B-VP +new JJ B-NP +tax NN I-NP +breaks NNS I-NP +on IN B-PP +dividends NNS B-NP +and CC O +raising VBG B-VP +taxes NNS B-NP +on IN B-PP +short-term JJ B-NP +trades NNS I-NP +by IN B-PP +pension NN B-NP +funds NNS I-NP +. . O + +Brady NNP B-NP +and CC I-NP +Breeden NNP I-NP +work NN B-VP +well RB B-ADVP +together RB B-ADVP +on IN B-PP +the DT B-NP +plunge NN I-NP +, , O +despite IN B-PP +the DT B-NP +fact NN I-NP +that IN B-SBAR +the DT B-NP +Treasury NNP I-NP +secretary NN I-NP +opposed VBN B-VP +Breeden NNP B-NP +'s POS B-NP +nomination NN I-NP +to TO B-PP +the DT B-NP +SEC NNP I-NP +post NN I-NP +. . O + +BAKER NNP B-NP +FALTERS NNP B-VP +in IN B-PP +the DT B-NP +Mideast NNP I-NP +amid IN B-PP +Israeli JJ B-NP +paralysis NN I-NP +and CC O +Palestinian JJ B-NP +politics NNS I-NP +. . O + +Despite IN B-PP +seeing VBG B-VP +his PRP$ B-NP +plan NN I-NP +for IN B-PP +Israeli-Palestinian JJ B-NP +elections NNS I-NP +wither VBP B-VP +, , O +the DT B-NP +cautious JJ I-NP +secretary NN I-NP +of IN B-PP +state NN B-NP +is VBZ B-VP +so RB B-ADVP +far RB I-ADVP +unwilling JJ B-ADJP +to TO B-VP +cut VB I-VP +U.S. NNP B-NP +economic JJ I-NP +or CC I-NP +military JJ I-NP +aid NN I-NP +to TO B-VP +force VB I-VP +Israeli JJ B-NP +cooperation NN I-NP +. . O + +Baker NNP B-NP +nonetheless RB B-ADVP +remains VBZ B-VP +furious JJ B-ADJP +both DT O +at IN B-PP +Shamir NNP B-NP +, , O +for IN B-PP +backing VBG B-VP +down RB B-PRT +on IN B-PP +the DT B-NP +elections NNS I-NP +, , O +and CC B-PP +at IN B-PP +Shamir NNP B-NP +'s POS B-NP +rival JJ I-NP +, , O +Peres NNP B-NP +, , O +for IN B-PP +political JJ B-NP +ineptitude NN I-NP +in IN B-PP +forcing VBG B-VP +a DT B-NP +premature JJ I-NP +cabinet NN I-NP +vote NN I-NP +on IN B-PP +Baker NNP B-NP +'s POS B-NP +plan NN I-NP +. . O + +Meanwhile RB B-ADVP +, , O +some DT B-NP +U.S. NNP I-NP +officials NNS I-NP +fear VBP B-VP +PLO NNP B-NP +chief JJ I-NP +Arafat NNP I-NP +is VBZ B-VP +getting VBG I-VP +cold JJ B-NP +feet NNS I-NP +and CC O +may MD B-VP +back RB I-VP +off IN B-PRT +from IN B-PP +his PRP$ B-NP +recent JJ I-NP +moderation NN I-NP +and CC I-NP +renunciation NN I-NP +of IN B-PP +terrorism NN B-NP +. . O + +He PRP B-NP +is VBZ B-VP +under IN B-PP +intense JJ B-NP +fire NN I-NP +from IN B-PP +other JJ B-NP +Palestinian JJ I-NP +groups NNS I-NP +; : O +Syria NNP B-NP +is VBZ B-VP +pushing VBG I-VP +Ahmad NNP B-NP +Jibril NNP I-NP +, , O +whose WP$ B-NP +terrorist JJ I-NP +band NN I-NP +is VBZ B-VP +blamed VBN I-VP +for IN B-PP +the DT B-NP +Pan NNP I-NP +Am NNP I-NP +103 CD I-NP +bombing NN I-NP +, , O +as IN B-PP +an DT B-NP +alternative NN I-NP +to TO B-PP +Arafat NNP B-NP +. . O + +DARMAN'S NNP B-NP +MANEUVERS NNS I-NP +on IN B-PP +the DT B-NP +budget NN I-NP +and CC O +capital NN B-NP +gains NNS I-NP +hurt VBN B-VP +him PRP B-NP +in IN B-PP +Congress NNP B-NP +. . O + +Republicans NNS O +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +Democrats NNPS B-NP +were VBD B-VP +angered VBN I-VP +by IN B-PP +the DT B-NP +budget NN I-NP +director NN I-NP +'s POS B-NP +rejection NN I-NP +of IN B-PP +Speaker NNP B-NP +Foley NNP I-NP +'s POS B-NP +effort NN I-NP +to TO B-VP +expedite VB I-VP +a DT B-NP +deficitcutting NN I-NP +measure NN I-NP +by IN B-PP +stripping VBG B-VP +it PRP B-NP +of IN B-PP +the DT B-NP +capital-gains NNS I-NP +tax VBP I-NP +cut VB I-NP +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +pet NN B-NP +Democratic JJ I-NP +projects NNS I-NP +. . O + +Darman NNP B-NP +now RB B-ADVP +blames VBZ B-VP +the DT B-NP +clash NN I-NP +on IN B-PP +miscommunication NN B-NP +, , O +but CC O +House NNP B-NP +GOP NNP I-NP +leader NN I-NP +Michel NNP I-NP +, , O +who WP B-NP +carried VBD B-VP +the DT B-NP +offer NN I-NP +to TO B-PP +him PRP B-NP +, , O +observes VBZ B-VP +, , O +`` `` O +I PRP B-NP +was VBD B-VP +speaking VBG I-VP +English NNP B-NP +at IN B-PP +the DT B-NP +time NN I-NP +, , O +and CC O +quite RB B-ADVP +loud JJ I-ADVP +so IN B-SBAR +I PRP B-NP +could MD B-VP +be VB I-VP +understood VBN I-VP +. . O +'' '' O + +Senate NNP B-NP +GOP NNP I-NP +leader NN I-NP +Dole NNP I-NP +ridicules VBZ B-VP +the DT B-NP +budget NN I-NP +chief NN I-NP +on IN B-PP +the DT B-NP +Senate NNP I-NP +floor NN I-NP +. . O + +Democratic JJ B-NP +counterpart NN I-NP +Mitchell NNP I-NP +, , O +asked VBD B-VP +to TO B-VP +interpret VB I-VP +Darman NNP B-NP +'s POS B-NP +threat NN I-NP +to TO B-VP +make VB I-VP +permanent JJ B-ADJP +the DT B-NP +across-the-board JJ I-NP +Gramm-Rudman NNP I-NP +cuts NNS I-NP +that WDT B-NP +took VBD B-VP +effect NN B-NP +this DT B-NP +week NN I-NP +, , O +says VBZ B-VP +, , O +`` `` O +I PRP B-NP +do VBP B-VP +n't RB I-VP +even RB I-VP +bother VB I-VP +to TO I-VP +interpret VB I-VP +them PRP B-NP +. . O +'' '' O + +But CC O +Darman NNP B-NP +suggests VBZ B-VP +such JJ B-NP +tensions NNS I-NP +will MD B-VP +dissipate VB I-VP +quickly RB B-ADVP +. . O + +`` `` O +If IN B-SBAR +I PRP B-NP +can MD B-VP +show VB I-VP +signs NNS B-NP +of IN B-PP +maturity NN B-NP +, , O +almost JJ B-NP +anybody NN I-NP +can MD B-VP +, , O +'' '' O +he PRP B-NP +jokes VBZ B-VP +. . O + +HHS NNP B-NP +OFFICIALS NNS I-NP +expect VBP B-VP +Secretary NNP B-NP +Sullivan NNP I-NP +to TO B-VP +continue VB I-VP +a DT B-NP +ban NN I-NP +on IN B-PP +research NN B-NP +using VBG B-VP +fetal JJ B-NP +tissue NN I-NP +. . O + +Before IN B-SBAR +he PRP B-NP +was VBD B-VP +confirmed VBN I-VP +, , O +Sullivan NNP B-NP +said VBD B-VP +he PRP B-NP +had VBD B-VP +`` `` O +reservations NNS B-NP +about IN B-PP +any DT B-NP +blanket NN I-NP +prohibitions NNS I-NP +on IN B-PP +medical JJ B-NP +research NN I-NP +. . O +'' '' O + +But CC O +now RB B-ADVP +, , O +an DT B-NP +official NN I-NP +says VBZ B-VP +, , O +he PRP B-NP +is VBZ B-VP +`` `` O +surrounded VBN B-VP +by IN B-PP +right-to-lifers NNS B-NP +, , O +'' '' O +who WP B-NP +contend VBP B-VP +that IN B-SBAR +any DT B-NP +breakthroughs NNS I-NP +in IN B-PP +fetal-tissue JJ B-NP +research NN I-NP +could MD B-VP +increase VB I-VP +the DT B-NP +demand NN I-NP +for IN B-PP +abortions NNS B-NP +. . O + +COOPERATION NN B-NP +WANES VBZ B-VP +on IN B-PP +weapons NNS B-NP +development NN I-NP +between IN B-PP +the DT B-NP +U.S. NNP I-NP +and CC O +Europe NNP B-NP +. . O + +Britain NNP B-NP +, , I-NP +France NNP I-NP +and CC I-NP +Italy NNP I-NP +pull VB B-VP +out IN B-PP +of IN B-PP +a DT B-NP +proposal NN I-NP +to TO B-VP +build VB I-VP +new JJ B-NP +NATO NNP I-NP +frigates NNS I-NP +; : O +the DT B-NP +U.S. NNP I-NP +and CC O +West NNP B-NP +Germany NNP I-NP +have VBP B-VP +each DT B-NP +withdrawn VBN B-VP +from IN B-PP +missile NN B-NP +projects NNS I-NP +. . O + +Defense NN B-NP +experts NNS I-NP +say VBP B-VP +joint JJ B-NP +projects NNS I-NP +are VBP B-VP +increasingly RB I-VP +squeezed VBN I-VP +by IN B-PP +budget NN B-NP +pressures NNS I-NP +and CC O +the DT B-NP +desire NN I-NP +to TO B-VP +save VB I-VP +domestic JJ B-NP +jobs NNS I-NP +; : O +some DT B-NP +also RB B-ADVP +fear VBP B-VP +rising VBG B-NP +protectionism NN I-NP +as IN B-SBAR +European JJ B-NP +unity NN I-NP +nears NNS B-VP +. . O + +BOTH DT B-NP +SIDES NNS I-NP +NOW RB I-NP +: : O + +Virginia NNP B-NP +GOP NNP I-NP +lieutenant NN I-NP +governor NN I-NP +candidate NN I-NP +Eddy NNP I-NP +Dalton NNP I-NP +tries VBZ B-VP +to TO I-VP +have VB I-VP +it PRP B-NP +both DT B-NP +ways NNS I-NP +on IN B-PP +the DT B-NP +abortion NN I-NP +issue NN I-NP +. . O + +Though IN B-SBAR +she PRP B-NP +opposes VBZ B-VP +abortion NN B-NP +in IN B-PP +almost RB B-NP +all DT I-NP +cases NNS I-NP +, , O +she PRP B-NP +airs VBZ B-VP +a DT B-NP +TV NN I-NP +commercial JJ I-NP +using VBG B-VP +pro-choice JJ B-NP +buzzwords NNS I-NP +. . O + +`` `` O +A DT B-NP +woman NN I-NP +ought MD B-VP +to TO I-VP +have VB I-VP +a DT B-NP +choice NN I-NP +in IN B-PP +cases NNS B-NP +where WRB B-ADVP +her PRP$ B-NP +life NN I-NP +or CC I-NP +health NN I-NP +are VBP B-VP +in IN B-PP +danger NN B-NP +and CC B-PP +in IN B-PP +cases NNS B-NP +of IN B-PP +rape NN B-NP +or CC I-NP +incest NN I-NP +, , O +'' '' O +she PRP B-NP +proclaims VBZ B-VP +. . O + +HOT JJ B-NP +TOPIC NN I-NP +: : O + +Interest NN B-NP +in IN B-PP +the DT B-NP +abortion NN I-NP +issue NN I-NP +is VBZ B-VP +so RB B-ADJP +great JJ I-ADJP +that IN B-SBAR +the DT B-NP +Hotline NNP I-NP +, , O +a DT B-NP +daily NN I-NP +, , I-NP +computer-distributed JJ I-NP +political JJ I-NP +newsletter NN I-NP +, , O +comes VBZ B-VP +up IN B-PRT +with IN B-PP +a DT B-NP +spinoff NN I-NP +product NN I-NP +called VBD B-VP +the DT B-NP +Abortion NNP I-NP +Report NNP I-NP +dealing VBG B-VP +solely RB B-ADVP +with IN B-PP +its PRP$ B-NP +political JJ I-NP +implications NNS I-NP +. . O + +CONSERVATIVES NNS B-NP +EXPECT VBP B-VP +Bush NNP B-NP +to TO B-VP +solidify VB I-VP +their PRP$ B-NP +majority NN I-NP +on IN B-PP +a DT B-NP +key JJ I-NP +court NN I-NP +. . O + +Bush NNP B-NP +has VBZ B-VP +three CD B-NP +vacancies NNS I-NP +to TO B-VP +fill VB I-VP +on IN B-PP +the DT B-NP +prestigious JJ I-NP +D.C. NNP I-NP +Circuit NNP I-NP +Court NNP I-NP +, , O +which WDT B-NP +handles VBZ B-VP +many JJ B-NP +important JJ I-NP +regulatory JJ I-NP +issues NNS I-NP +and CC O +is VBZ B-VP +often RB I-VP +considered VBN I-VP +a DT B-NP +warm-up NN I-NP +for IN B-PP +future NN B-NP +Supreme NNP I-NP +Court NNP I-NP +nominees NNS I-NP +. . O + +Conservatives NNS B-NP +now RB B-ADVP +hold VBP B-VP +only RB B-ADVP +a DT B-NP +5-4 JJ I-NP +edge NN I-NP +. . O + +One CD B-NP +slot NN I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +go VB I-VP +to TO B-PP +EEOC NNP B-NP +Chairman NNP I-NP +Clarence NNP I-NP +Thomas NNP I-NP +, , O +a DT B-NP +black JJ I-NP +conservative JJ I-NP +; : O +after IN B-PP +mulling VBG B-VP +a DT B-NP +fight NN I-NP +, , O +liberals NNS B-NP +now RB B-ADVP +probably RB B-ADVP +wo MD B-VP +n't RB I-VP +put VB I-VP +up IN B-PRT +a DT B-NP +major JJ I-NP +struggle NN I-NP +against IN B-PP +him PRP B-NP +. . O + +Other JJ B-NP +conservatives NNS I-NP +thought VBD B-VP +to TO I-VP +be VB I-VP +on IN B-PP +the DT B-NP +administration NN I-NP +'s POS B-NP +short JJ I-NP +list NN I-NP +include VBP B-VP +Washington NNP B-NP +lawyer NN I-NP +Michael NNP I-NP +Uhlmann NNP I-NP +, , O +who WP B-NP +was VBD B-VP +passed VBN I-VP +over IN B-PRT +for IN B-PP +the DT B-NP +No. NN I-NP +2 CD I-NP +job NN I-NP +at IN B-PP +the DT B-NP +Justice NNP I-NP +Department NNP I-NP +, , O +and CC O +Marshall NNP B-NP +Breger NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +a DT B-NP +U.S. NNP I-NP +agency NN I-NP +on IN B-PP +administration NN B-NP +. . O + +The DT B-NP +Bush NNP I-NP +administration NN I-NP +would MD B-VP +also RB I-VP +like VB I-VP +to TO I-VP +nominate VB I-VP +a DT B-NP +woman NN I-NP +; : O +one CD B-NP +possibility NN I-NP +is VBZ B-VP +former JJ B-NP +Justice NNP I-NP +Department NNP I-NP +official NN I-NP +Victoria NNP I-NP +Toensing NNP I-NP +. . O + +MINOR JJ B-NP +MEMOS NNS I-NP +: : O + +In IN B-PP +the DT B-NP +wake NN I-NP +of IN B-PP +the DT B-NP +failed VBN I-NP +Panama NNP I-NP +coup NN I-NP +, , O +a DT B-NP +bumper NN I-NP +sticker NN I-NP +appears VBZ B-VP +: : O +`` `` O +Ollie NNP B-NP +Would MD B-VP +Have VB I-VP +Got VB I-VP +Him PRP B-NP +. . O +'' '' O +... : O + +Rep. NNP B-NP +Garcia NNP I-NP +, , O +on IN B-PP +trial NN B-NP +for IN B-PP +bribery NN B-NP +and CC I-NP +extortion NN I-NP +, , O +puts VBZ B-VP +statements NNS B-NP +in IN B-PP +the DT B-NP +Congressional NNP I-NP +Record NNP I-NP +attributing VBG B-VP +missed VBN B-NP +votes NNS I-NP +to TO B-PP +`` `` O +scheduling NN B-NP +conflicts NNS I-NP +. . O +'' '' O +... : O + +A DT B-NP +GOP NNP I-NP +Senate NNP I-NP +fund-raising NN I-NP +letter NN I-NP +from IN B-PP +Sen. NNP B-NP +Burns NNP I-NP +of IN B-PP +Montana NNP B-NP +is VBZ B-VP +made VBN I-VP +to TO I-VP +appear VB I-VP +personally RB B-ADJP +written VBN I-ADJP +, , O +and CC O +its PRP$ B-NP +opening NN I-NP +line NN I-NP +is VBZ B-VP +, , O +`` `` O +Please VB B-INTJ +excuse VB B-VP +my PRP$ B-NP +handwriting NN I-NP +. . O +'' '' O + +But CC O +Burns NNP B-NP +confesses VBZ B-VP +in IN B-PP +an DT B-NP +interview NN I-NP +: : O +`` `` O +That DT B-NP +'s VBZ B-VP +not RB O +my PRP$ B-NP +handwriting NN I-NP +. . O + +MC NNP B-NP +SHIPPING NNP I-NP +Inc. NNP I-NP +, , O +New NNP B-NP +York NNP I-NP +, , O +declared VBD B-VP +an DT B-NP +initial JJ I-NP +quarterly NN I-NP +of IN B-PP +60 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +payable JJ B-ADJP +Nov. NNP B-NP +15 CD I-NP +to TO B-PP +shares NNS B-NP +of IN B-PP +record NN B-NP +Oct. NNP B-NP +30 CD I-NP +. . O + +The DT B-NP +announcement NN I-NP +boosted VBD B-VP +the DT B-NP +charter-shipping JJ I-NP +company NN I-NP +'s POS B-NP +shares NNS I-NP +, , O +which WDT B-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +15.125 CD I-NP +, , O +up IN B-ADVP +$ $ B-NP +1.25 CD I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +composite JJ B-NP +trading NN I-NP +on IN B-PP +the DT B-NP +American NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +. . O + +The DT B-NP +company NN I-NP +, , O +which WDT B-NP +went VBD B-VP +public JJ B-ADJP +in IN B-PP +May NNP B-NP +, , O +intends VBZ B-VP +to TO I-VP +pay VB I-VP +dividends NNS B-NP +from IN B-PP +available JJ B-NP +cash NN I-NP +flow NN I-NP +; : O +the DT B-NP +amount NN I-NP +may MD B-VP +vary VB I-VP +from IN B-PP +quarter NN B-NP +to TO B-PP +quarter NN B-NP +. . O + +Ever RB B-PP +since IN I-PP +the DT O +hotly RB O +contested VBN O +America NNP B-NP +'s POS B-NP +Cup NNP I-NP +race NN I-NP +last JJ B-NP +year NN I-NP +, , O +the DT B-NP +famous JJ I-NP +yachting NN I-NP +match NN I-NP +has VBZ B-VP +run VBN I-VP +into IN B-PP +more RBR B-NP +rough JJ I-NP +sailing NN I-NP +out IN B-PP +of IN B-PP +the DT B-NP +water NN I-NP +than IN B-PP +in IN B-PP +it PRP B-NP +. . O + +Now RB B-ADVP +that IN B-SBAR +a DT B-NP +key JJ I-NP +member NN I-NP +of IN B-PP +the DT B-NP +San NNP I-NP +Diego NNP I-NP +Yacht NNP I-NP +Club NNP I-NP +team NN I-NP +is VBZ B-VP +splitting VBG I-VP +off IN B-PRT +to TO B-VP +form VB I-VP +his PRP$ B-NP +own JJ I-NP +team NN I-NP +, , O +even RB B-NP +more JJR I-NP +competition NN I-NP +lies VBZ B-VP +ahead RB B-ADVP +. . O + +Peter NNP B-NP +Isler NNP I-NP +, , O +the DT B-NP +winning VBG I-NP +navigator NN I-NP +in IN B-PP +the DT O +past JJ O +two CD O +America NNP B-NP +'s POS B-NP +Cup NNP I-NP +challenges NNS I-NP +, , O +has VBZ B-VP +split NN I-VP +from IN B-PP +the DT B-NP +team NN I-NP +led VBN B-VP +by IN B-PP +Dennis NNP B-NP +Conner NNP I-NP +, , O +skipper NN B-NP +of IN B-PP +the DT B-NP +victorious JJ I-NP +Stars NNP I-NP +& CC I-NP +Stripes NNP I-NP +, , O +to TO B-VP +form VB I-VP +his PRP$ B-NP +own JJ I-NP +team NN I-NP +for IN B-PP +the DT B-NP +next JJ I-NP +contest NN I-NP +in IN B-PP +1992 CD B-NP +. . O + +And CC O +, , O +in IN B-PP +addition NN B-NP +to TO B-PP +a DT B-NP +crack NN I-NP +team NN I-NP +of IN B-PP +sailors NNS B-NP +, , O +Mr. NNP B-NP +Isler NNP I-NP +has VBZ B-VP +lined VBN I-VP +up IN B-PRT +some DT B-NP +real JJ I-NP +brass NN I-NP +to TO B-VP +help VB I-VP +him PRP B-NP +finance VB B-VP +the DT B-NP +syndicate NN I-NP +. . O + +Isler NNP B-NP +Sailing NNP I-NP +International NNP I-NP +'s POS B-NP +advisory JJ I-NP +board NN I-NP +includes VBZ B-VP +Ted NNP B-NP +Turner NNP I-NP +, , O +Turner NNP B-NP +Broadcasting NNP I-NP +chairman NN I-NP +and CC O +a DT B-NP +former JJ I-NP +Cup NNP I-NP +victor NN I-NP +; : O +Peter NNP B-NP +G. NNP I-NP +Diamandis NNP I-NP +, , O +head NN B-NP +of IN B-PP +Diamandis NNP B-NP +Communications NNPS I-NP +, , O +and CC O +Joseph NNP B-NP +B. NNP I-NP +Vittoria NNP I-NP +, , O +chairman NN B-NP +and CC O +chief JJ B-NP +executive NN I-NP +of IN B-PP +Avis NNP B-NP +Inc NNP I-NP +. . O + +His PRP$ B-NP +steering NN I-NP +committee NN I-NP +includes VBZ B-VP +other JJ B-NP +notable JJ I-NP +businessmen NNS I-NP +, , O +including VBG B-PP +the DT B-NP +California NNP I-NP +investor NN I-NP +and CC I-NP +old JJ I-NP +salt NN I-NP +Roy NNP I-NP +E. NNP I-NP +Disney NNP I-NP +. . O + +`` `` O +We PRP B-NP +have VBP B-VP +the DT B-NP +structure NN I-NP +, , I-NP +people NNS I-NP +and CC I-NP +plan NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Isler NNP I-NP +said VBD B-VP +in IN B-PP +a DT B-NP +statement NN I-NP +. . O + +Now RB B-ADVP +, , O +the DT B-NP +first JJ I-NP +order NN I-NP +of IN B-PP +business NN B-NP +is VBZ B-VP +raising VBG B-VP +enough JJ B-NP +money NN I-NP +to TO B-VP +keep VB I-VP +his PRP$ B-NP +team NN I-NP +afloat RB B-ADJP +-- : O +a DT B-NP +new JJ I-NP +yacht NN I-NP +will MD B-VP +cost VB I-VP +about RB B-NP +$ $ I-NP +3 CD I-NP +million CD I-NP +alone RB B-ADVP +, , O +and CC O +sailing NN B-NP +syndicate NN I-NP +budgets NNS I-NP +can MD B-VP +easily RB I-VP +run VB I-VP +to TO B-PP +$ $ B-NP +25 CD I-NP +million CD I-NP +for IN B-PP +a DT B-NP +Cup NNP I-NP +challenge NN I-NP +. . O + +The DT B-NP +split NN I-NP +comes VBZ B-VP +in IN B-PP +the DT B-NP +midst NN I-NP +of IN B-PP +a DT B-NP +court NN I-NP +battle NN I-NP +over IN B-PP +whether IN B-SBAR +the DT B-NP +San NNP I-NP +Diego NNP I-NP +Yacht NNP I-NP +Club NNP I-NP +should MD B-VP +be VB I-VP +allowed VBN I-VP +to TO I-VP +keep VB I-VP +the DT B-NP +international JJ I-NP +trophy NN I-NP +for IN B-PP +sailing VBG B-VP +a DT B-NP +catamaran NN I-NP +against IN B-PP +the DT B-NP +New NNP I-NP +Zealand NNP I-NP +challengers NNS I-NP +' POS B-NP +90-foot JJ I-NP +monohull NN I-NP +. . O + +In IN B-PP +September NNP B-NP +, , O +a DT B-NP +New NNP I-NP +York NNP I-NP +appellate JJ B-NP +court NN I-NP +overturned VBD B-VP +a DT B-NP +state NN I-NP +judge NN I-NP +'s POS B-NP +ruling NN I-NP +that WDT B-NP +awarded VBD B-VP +the DT B-NP +Cup NNP I-NP +to TO B-PP +the DT B-NP +New NNP I-NP +Zealand NNP I-NP +team NN I-NP +. . O + +Pending VBG B-PP +an DT B-NP +appeal NN I-NP +by IN B-PP +the DT B-NP +New NNP I-NP +Zealand NNP I-NP +team NN I-NP +, , O +led VBN B-VP +by IN B-PP +Michael NNP B-NP +Fay NNP I-NP +, , O +the DT B-NP +finals NNS I-NP +for IN B-PP +the DT B-NP +next JJ I-NP +Cup NNP I-NP +challenge NN I-NP +are VBP B-VP +scheduled VBN I-VP +to TO I-VP +be VB I-VP +held VBN I-VP +in IN B-PP +mid-1992 NN B-NP +in IN B-PP +San NNP B-NP +Diego NNP I-NP +. . O + +But CC O +because IN B-PP +of IN I-PP +the DT B-NP +uncertainty NN I-NP +of IN B-PP +the DT B-NP +outcome NN I-NP +of IN B-PP +the DT B-NP +suit NN I-NP +, , O +Mr. NNP B-NP +Conner NNP I-NP +'s POS B-NP +team NN I-NP +has VBZ B-VP +done VBN I-VP +little JJ B-NP +to TO B-VP +begin VB I-VP +gearing VBG I-VP +up VB B-PRT +to TO B-VP +defend VB I-VP +its PRP$ B-NP +title NN I-NP +. . O + +`` `` O +If IN B-SBAR +you PRP B-NP +do VBP B-VP +n't RB I-VP +know VB I-VP +what WP B-NP +the DT B-NP +rules NNS I-NP +of IN B-PP +the DT B-NP +game NN I-NP +are VBP B-VP +, , O +it PRP B-NP +'s VBZ B-VP +hard JJ B-ADJP +to TO B-VP +start VB I-VP +your PRP$ B-NP +fund-raising NN I-NP +or CC I-NP +design NN I-NP +, , O +'' '' O +said VBD B-VP +Dana NNP B-NP +Smith NNP I-NP +, , O +an DT B-NP +official NN I-NP +with IN B-PP +Team NNP B-NP +Dennis NNP I-NP +Conner NNP I-NP +. . O + +The DT B-NP +Conner NNP I-NP +team NN I-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +negotiate VB I-VP +with IN B-PP +corporate JJ B-NP +sponsors NNS I-NP +until IN B-SBAR +the DT B-NP +suit NN I-NP +is VBZ B-VP +resolved VBN I-VP +and CC O +the DT B-NP +race NN I-NP +site NN I-NP +is VBZ B-VP +determined VBN I-VP +, , O +Mr. NNP B-NP +Smith NNP I-NP +said VBD B-VP +, , O +and CC O +the DT B-NP +syndicate NN I-NP +'s POS B-NP +budget NN I-NP +could MD B-VP +easily RB I-VP +reach VB I-VP +$ $ B-NP +30 CD I-NP +million CD I-NP +. . O + +But CC O +spokesmen NNS B-NP +for IN B-PP +both DT B-NP +Mr. NNP B-NP +Isler NNP I-NP +and CC O +Mr. NNP B-NP +Conner NNP I-NP +say VBP B-VP +the DT B-NP +formation NN I-NP +of IN B-PP +the DT B-NP +new JJ I-NP +syndicate NN I-NP +has VBZ B-VP +to TO B-VP +do VB I-VP +with IN B-PP +Mr. NNP B-NP +Isler NNP I-NP +'s POS B-NP +desire NN I-NP +to TO B-VP +skipper VB I-VP +his PRP$ B-NP +own JJ I-NP +team NN I-NP +and CC O +begin VB B-VP +planning NN I-VP +now RB B-ADVP +, , O +rather RB B-CONJP +than IN I-CONJP +any DT B-NP +falling NN I-NP +out IN O +between IN B-PP +the DT B-NP +two CD I-NP +sportsmen NNS I-NP +. . O + +Mr. NNP B-NP +Smith NNP I-NP +and CC O +a DT B-NP +spokesman NN I-NP +for IN B-PP +the DT B-NP +America NNP I-NP +'s POS B-NP +Cup NNP I-NP +Organizing NNP I-NP +Committee NNP I-NP +insist VBP B-VP +that IN B-SBAR +the DT B-NP +added VBN I-NP +competition NN I-NP +for IN B-PP +the DT B-NP +defender NN I-NP +'s POS B-NP +spot NN I-NP +will MD B-VP +only RB I-VP +improve VB I-VP +the DT B-NP +race NN I-NP +. . O + +Missouri NNP B-NP +farmer NN I-NP +Blake NNP I-NP +Hurst NNP I-NP +writing VBG B-VP +in IN B-PP +the DT B-NP +fall NN I-NP +issue NN I-NP +of IN B-PP +the DT B-NP +Heritage NNP I-NP +Foundation NNP I-NP +'s POS B-NP +Policy NNP I-NP +Review NNP I-NP +about IN B-PP +the DT B-NP +proposed VBN I-NP +location NN I-NP +of IN B-PP +a DT B-NP +hazardous-waste NN I-NP +incinerator NN I-NP +in IN B-PP +his PRP$ B-NP +county NN I-NP +: : O + +Of IN B-PP +course NN B-NP +I PRP B-NP +'d MD O +rather RB B-ADVP +have VB B-VP +a DT B-NP +computer NN I-NP +software NN I-NP +firm NN I-NP +in IN B-PP +my PRP$ B-NP +backyard NN I-NP +than IN B-PP +a DT B-NP +hazardous JJ I-NP +waste NN I-NP +incinerator NN I-NP +. . O + +But CC O +I PRP B-NP +'d MD O +also RB O +rather RB B-ADVP +live VB B-VP +next JJ B-NP +door NN I-NP +to TO B-PP +an DT B-NP +incinerator NN I-NP +than IN B-PP +to TO B-PP +some DT B-NP +of IN B-PP +the DT B-NP +hog NN I-NP +farms NNS I-NP +I PRP B-NP +'ve VBP B-VP +seen VBN I-VP +-LRB- ( I-VP +and CC I-VP +smelt VBD I-VP +-RRB- ) O +in IN B-PP +these DT B-NP +parts NNS I-NP +. . O + +An DT B-NP +incinerator NN I-NP +is VBZ B-VP +also RB B-ADVP +probably RB B-ADVP +better JJR B-ADJP +than IN B-PP +having VBG B-VP +nobody NN B-NP +next JJ B-NP +door NN I-NP +-- : O +on IN B-PP +our PRP$ B-NP +farm NN I-NP +there EX B-NP +are VBP B-VP +four CD B-NP +unoccupied JJ I-NP +houses NNS I-NP +. . O + +On IN B-PP +my PRP$ B-NP +four-mile JJ I-NP +drive NN I-NP +to TO B-PP +farm VB B-NP +headquarters NN I-NP +each DT B-NP +morning NN I-NP +, , O +I PRP B-NP +drive VBP B-VP +by IN B-PP +another DT B-NP +four CD I-NP +empty JJ I-NP +houses NNS I-NP +. . O + +A DT B-NP +community NN I-NP +of IN B-PP +abandoned VBN B-NP +farmsteads NNS I-NP +, , O +failing VBG B-NP +businesses NNS I-NP +, , O +and CC O +crumbling VBG B-NP +roads NNS I-NP +and CC I-NP +bridges NNS I-NP +is VBZ B-VP +hardly RB B-ADVP +a DT B-NP +desirable JJ I-NP +one CD I-NP +... : O +. . O + +The DT B-NP +loss NN I-NP +of IN B-PP +40 CD B-NP +jobs NNS I-NP +by IN B-PP +a DT B-NP +depressed JJ I-NP +county NN I-NP +in IN B-PP +rural JJ B-NP +Missouri NNP I-NP +is VBZ B-VP +hardly RB B-ADVP +of IN B-PP +national JJ B-NP +importance NN I-NP +except IN B-PP +for IN B-PP +this DT B-NP +: : O +If IN B-SBAR +the DT B-NP +most RBS I-NP +environmentally RB I-NP +safe JJ I-NP +way NN I-NP +of IN B-PP +dealing VBG B-VP +with IN B-PP +a DT B-NP +national JJ I-NP +problem NN I-NP +can MD B-VP +not RB I-VP +be VB I-VP +built VBN I-VP +in IN B-PP +Atchinson NNP B-NP +County NNP I-NP +, , O +what WP B-NP +hope NN I-NP +have VBP B-VP +we PRP B-NP +for IN B-PP +dealing VBG B-VP +with IN B-PP +the DT B-NP +wastes NNS I-NP +our PRP$ B-NP +economy NN I-NP +produces VBZ B-VP +? . O + +After IN B-PP +all DT B-NP +, , O +farmers NNS B-NP +here RB B-ADVP +work VBP B-VP +with IN B-PP +`` `` B-NP +hazardous JJ I-NP +'' '' I-NP +chemicals NNS I-NP +every DT B-NP +day NN I-NP +, , O +many NN B-NP +of IN B-PP +them PRP B-NP +the DT B-NP +same JJ I-NP +chemicals NNS I-NP +that WDT B-NP +would MD B-VP +have VB I-VP +been VBN I-VP +destroyed VBN I-VP +in IN B-PP +the DT B-NP +incinerator NN I-NP +. . O + +We PRP B-NP +know VBP B-VP +they PRP B-NP +are VBP B-VP +dangerous JJ B-ADJP +, , O +but CC O +if IN B-SBAR +handled VBN B-VP +with IN B-PP +care NN B-NP +, , O +their PRP$ B-NP +benefits NNS I-NP +far RB B-ADVP +outweigh VBP B-VP +any DT B-NP +risk NN I-NP +to TO B-PP +the DT B-NP +environment NN I-NP +. . O + +Just RB B-SBAR +because IN I-SBAR +Stamford NNP B-NP +, , I-NP +Conn. NNP I-NP +, , I-NP +High NNP I-NP +School NNP I-NP +did VBD B-VP +nothing NN B-NP +when WRB B-ADVP +its PRP$ B-NP +valuable JJ I-NP +1930s CD I-NP +mural NN I-NP +was VBD B-VP +thrown VBN I-VP +in IN B-PP +the DT B-NP +trash NN I-NP +does VBZ B-VP +n't RB I-VP +mean VB I-VP +the DT B-NP +city NN I-NP +no RB B-ADVP +longer RB I-ADVP +owns VBZ B-VP +the DT B-NP +work NN I-NP +of IN B-PP +art NN B-NP +, , O +a DT B-NP +federal JJ I-NP +judge NN I-NP +ruled VBD B-VP +. . O + +The DT B-NP +mural NN I-NP +, , O +now RB B-VP +valued VBN I-VP +at IN B-PP +$ $ B-NP +1.3 CD I-NP +million CD I-NP +according VBG B-PP +to TO B-PP +appraisers NNS B-NP +, , O +was VBD B-VP +tossed VBN I-VP +in IN B-PP +a DT B-NP +trash NN I-NP +heap NN I-NP +in IN B-PP +1971 CD B-NP +by IN B-PP +workers NNS B-NP +who WP B-NP +were VBD B-VP +renovating VBG I-VP +the DT B-NP +building NN I-NP +. . O + +The DT B-NP +100-foot-long JJ I-NP +mural NN I-NP +, , O +painted VBN B-VP +by IN B-PP +James NNP B-NP +Daugherty NNP I-NP +in IN B-PP +1934 CD B-NP +, , O +was VBD B-VP +commissioned VBN I-VP +by IN B-PP +the DT B-NP +federal JJ I-NP +Works NNP I-NP +Project NNP I-NP +Administration NNP I-NP +. . O + +After IN B-SBAR +the DT B-NP +discarded VBN I-NP +mural NN I-NP +was VBD B-VP +found VBN I-VP +outside IN B-PP +the DT B-NP +school NN I-NP +by IN B-PP +a DT B-NP +concerned VBN I-NP +Stamford NNP I-NP +graduate NN I-NP +, , O +it PRP B-NP +eventually RB B-ADVP +was VBD B-VP +turned VBN I-VP +over IN B-PRT +to TO B-PP +Hiram NNP B-NP +Hoelzer NNP I-NP +, , O +a DT B-NP +professional JJ I-NP +art NN I-NP +restorer NN I-NP +. . O + +Throughout IN B-PP +the DT B-NP +1970s NNS I-NP +, , O +Stamford NNP B-NP +school NN I-NP +and CC I-NP +city NN I-NP +officials NNS I-NP +made VBD B-VP +no DT B-NP +effort NN I-NP +to TO B-VP +locate VB I-VP +the DT B-NP +mural NN I-NP +. . O + +Apparently RB B-ADVP +the DT B-NP +officials NNS I-NP +did VBD B-VP +n't RB I-VP +even RB I-VP +know VB I-VP +the DT B-NP +mural NN I-NP +was VBD B-VP +missing VBG I-VP +until IN B-PP +1980 CD B-NP +, , O +when WRB B-ADVP +a DT B-NP +researcher NN I-NP +found VBD B-VP +that IN B-SBAR +the DT B-NP +painting NN I-NP +was VBD B-VP +in IN B-PP +Mr. NNP B-NP +Hoelzer NNP I-NP +'s POS B-NP +studio NN I-NP +and CC O +questioned VBD B-VP +school NN B-NP +officials NNS I-NP +about IN B-PP +it PRP B-NP +. . O + +In IN B-PP +1986 CD B-NP +, , O +Stamford NNP B-NP +officials NNS I-NP +thanked VBD B-VP +Mr. NNP B-NP +Hoelzer NNP I-NP +for IN B-PP +taking VBG B-VP +care NN B-NP +of IN B-PP +the DT B-NP +mural NN I-NP +-- : O +and CC O +demanded VBD B-VP +he PRP B-NP +return VBP B-VP +it PRP B-NP +as RB B-ADVP +soon RB I-ADVP +as IN B-PP +possible JJ B-ADJP +. . O + +Mr. NNP B-NP +Hoelzer NNP I-NP +, , O +however RB B-ADVP +, , O +sued VBD B-VP +Stamford NNP B-NP +, , O +claiming VBG B-VP +that IN B-SBAR +the DT B-NP +city NN I-NP +had VBD B-VP +abandoned VBN I-VP +the DT B-NP +artwork NN I-NP +and CC O +that IN B-SBAR +it PRP B-NP +had VBD B-VP +waited VBN I-VP +too RB I-VP +long JJ I-VP +to TO I-VP +reclaim VB I-VP +it PRP B-NP +. . O + +But CC O +Judge NNP B-NP +Louis NNP I-NP +L. NNP I-NP +Stanton NNP I-NP +of IN B-PP +federal JJ B-NP +court NN I-NP +in IN B-PP +Manhattan NNP B-NP +ruled VBD B-VP +that IN B-SBAR +the DT B-NP +city NN I-NP +could MD B-VP +n't RB I-VP +be VB I-VP +faulted VBN I-VP +for IN B-PP +waiting VBG B-VP +too RB B-ADVP +long RB I-ADVP +because IN B-SBAR +it PRP B-NP +did VBD B-VP +n't RB I-VP +realize VB I-VP +until IN B-PP +1986 CD B-NP +that IN O +its PRP$ B-NP +ownership NN I-NP +of IN B-PP +the DT B-NP +painting NN I-NP +was VBD B-VP +in IN B-PP +dispute NN B-NP +. . O + +The DT B-NP +judge NN I-NP +also RB B-ADVP +ruled VBD B-VP +that IN B-SBAR +the DT B-NP +painting NN I-NP +was VBD B-VP +n't RB I-VP +abandoned VBN I-VP +because IN B-SBAR +officials NNS B-NP +did VBD B-VP +n't RB I-VP +intend VB I-VP +for IN B-SBAR +it PRP B-NP +to TO B-VP +be VB I-VP +thrown VBN I-VP +away RB B-PRT +and CC O +were VBD B-VP +unaware JJ B-ADJP +that IN B-SBAR +the DT B-NP +workmen NNS I-NP +had VBD B-VP +discarded VBN I-VP +it PRP B-NP +. . O + +Mr. NNP B-NP +Hoelzer NNP I-NP +did VBD B-VP +n't RB I-VP +return VB I-VP +phone NN B-NP +calls NNS I-NP +seeking VBG B-VP +comment VB B-NP +on IN B-PP +the DT B-NP +judge NN I-NP +'s POS B-NP +decision NN I-NP +. . O + +The DT B-NP +judge NN I-NP +ordered VBD B-VP +that IN B-SBAR +a DT B-NP +hearing NN I-NP +be VB B-VP +held VBN I-VP +Nov. NNP B-NP +17 CD I-NP +to TO B-VP +determine VB I-VP +how WRB B-NP +much JJ I-NP +the DT B-NP +city NN I-NP +should MD B-VP +pay VB I-VP +Mr. NNP B-NP +Hoelzer NNP I-NP +for IN B-PP +his PRP$ B-NP +services NNS I-NP +. . O + +Mary NNP B-NP +E. NNP I-NP +Sommer NNP I-NP +, , O +corporate JJ B-NP +counsel NN I-NP +for IN B-PP +Stamford NNP B-NP +, , O +said VBD B-VP +the DT B-NP +city NN I-NP +has VBZ B-VP +discussed VBN I-VP +several JJ B-NP +possible JJ I-NP +plans NNS I-NP +for IN B-PP +displaying VBG B-VP +the DT B-NP +mural NN I-NP +, , O +which WDT B-NP +portrays VBZ B-VP +various JJ B-NP +scenes NNS I-NP +from IN B-PP +the DT B-NP +Great NNP I-NP +Depression NNP I-NP +. . O + +She PRP B-NP +said VBD B-VP +the DT B-NP +mural NN I-NP +`` `` O +preserves VBZ B-VP +an DT B-NP +era NN I-NP +in IN B-PP +Stamford NNP B-NP +and CC B-PP +in IN B-PP +our PRP$ B-NP +country NN I-NP +when WRB B-ADVP +this DT B-NP +type NN I-NP +of IN B-PP +work NN B-NP +was VBD B-VP +being VBG I-VP +done VBN I-VP +. . O + +The DT B-NP +prices NNS I-NP +of IN B-PP +corn NN B-NP +futures NNS I-NP +contracts NNS I-NP +jumped VBD B-VP +amid IN B-PP +rumors NNS B-NP +that IN B-SBAR +the DT B-NP +Soviet NNP I-NP +Union NNP I-NP +is VBZ B-VP +keeping VBG I-VP +up IN B-PRT +its PRP$ B-NP +dizzying JJ I-NP +October NNP I-NP +buying VBG I-NP +binge NN I-NP +of IN B-PP +U.S. NNP B-NP +corn NN I-NP +. . O + +Those DT B-NP +rumors NNS I-NP +were VBD B-VP +confirmed VBN I-VP +after IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +trading NN B-NP +yesterday NN B-NP +when WRB B-ADVP +the DT B-NP +U.S. NNP I-NP +Agriculture NNP I-NP +Department NNP I-NP +announced VBD B-VP +that IN B-SBAR +the DT B-NP +Soviets NNPS I-NP +had VBD B-VP +bought VBN I-VP +1.2 CD B-NP +million CD I-NP +metric JJ I-NP +tons NNS I-NP +of IN B-PP +U.S. NNP B-NP +corn NN I-NP +, , O +bringing VBG B-VP +their PRP$ B-NP +U.S. NNP I-NP +corn NN I-NP +purchases NNS I-NP +confirmed VBD B-VP +so RB B-ADVP +far RB I-ADVP +this DT B-NP +month NN I-NP +to TO B-PP +about IN B-NP +five CD I-NP +million CD I-NP +metric JJ I-NP +tons NNS I-NP +. . O + +In IN B-PP +trading NN B-NP +at IN B-PP +the DT B-NP +Chicago NNP I-NP +Board NNP I-NP +of IN B-PP +Trade NNP B-NP +, , O +the DT B-NP +corn NN I-NP +contract NN I-NP +for IN B-PP +December NNP B-NP +delivery NN I-NP +jumped VBD B-VP +5.75 CD B-NP +cents NNS I-NP +a DT B-NP +bushel NN I-NP +to TO B-VP +settle VB I-VP +at IN B-PP +$ $ B-NP +2.44 CD I-NP +a DT B-NP +bushel NN I-NP +. . O + +The DT B-NP +Soviet JJ I-NP +purchases NNS I-NP +are VBP B-VP +close RB B-ADJP +to TO B-PP +exceeding VBG B-VP +what WP B-NP +some DT B-NP +analysts NNS I-NP +had VBD B-VP +expected VBN I-VP +the DT B-NP +Soviet NNP I-NP +Union NNP I-NP +to TO B-VP +buy VB I-VP +this DT B-NP +fall NN I-NP +, , O +the DT B-NP +season NN I-NP +in IN B-PP +which WDT B-NP +it PRP B-NP +usually RB B-ADVP +buys VBZ B-VP +much NN B-NP +of IN B-PP +the DT B-NP +corn NN I-NP +it PRP B-NP +imports VBZ B-VP +from IN B-PP +the DT B-NP +U.S. NNP I-NP +. . O + +That DT B-NP +pace NN I-NP +is VBZ B-VP +causing VBG I-VP +some DT B-NP +analysts NNS I-NP +to TO B-VP +speculate VB I-VP +that IN B-SBAR +the DT B-NP +Soviet NNP I-NP +Union NNP I-NP +might MD B-VP +soon RB I-VP +purchase VB I-VP +as RB B-NP +much JJ I-NP +as IN B-PP +another DT B-NP +two CD I-NP +million CD I-NP +metric JJ I-NP +tons NNS I-NP +. . O + +One CD B-NP +sign NN I-NP +that IN B-SBAR +more RBR B-NP +Soviet JJ I-NP +purchases NNS I-NP +are VBP B-VP +possible JJ B-ADJP +is VBZ B-VP +that IN O +U.S. NNP B-NP +grain NN I-NP +companies NNS I-NP +yesterday NN B-NP +bought VBD B-VP +an DT B-NP +unusually RB I-NP +large JJ I-NP +amount NN I-NP +of IN B-PP +corn NN B-NP +futures NNS I-NP +contracts NNS I-NP +. . O + +That DT B-NP +sometimes RB B-ADVP +signals VBZ B-VP +that IN B-SBAR +they PRP B-NP +are VBP B-VP +laying VBG I-VP +plans NNS B-NP +to TO B-VP +export VB I-VP +corn NN B-NP +. . O + +By IN B-PP +some DT B-NP +estimates NNS I-NP +, , O +several JJ B-NP +grain NN I-NP +companies NNS I-NP +combined VBN B-VP +bought VBD B-VP +contracts NNS B-NP +for IN B-PP +the DT B-NP +possession NN I-NP +of IN B-PP +roughly RB B-NP +one CD I-NP +million CD I-NP +metric JJ I-NP +tons NNS I-NP +of IN B-PP +corn NN B-NP +. . O + +By IN B-PP +buying VBG B-VP +futures NNS B-NP +contracts NNS I-NP +, , O +these DT B-NP +companies NNS I-NP +attempt VBP B-VP +to TO I-VP +protect VB I-VP +themselves PRP B-NP +from IN B-PP +swings NNS B-NP +in IN B-PP +the DT B-NP +price NN I-NP +of IN B-PP +the DT B-NP +corn NN I-NP +that IN B-NP +they PRP B-NP +are VBP B-VP +obligated VBN I-VP +to TO I-VP +deliver VB I-VP +. . O + +Rumors NNS B-NP +of IN B-PP +Soviet JJ B-NP +interest NN I-NP +also RB B-ADVP +pushed VBD B-VP +up IN B-ADVP +the DT B-NP +prices NNS I-NP +of IN B-PP +soybean NN B-NP +futures NNS I-NP +contracts NNS I-NP +. . O + +Among IN B-PP +other JJ B-NP +things NNS I-NP +, , O +the DT B-NP +Agriculture NNP I-NP +Department NNP I-NP +is VBZ B-VP +widely RB I-VP +thought VBN I-VP +to TO I-VP +be VB I-VP +mulling VBG I-VP +whether IN B-SBAR +to TO B-VP +subsidize VB I-VP +the DT B-NP +sale NN I-NP +of IN B-PP +soybean NN B-NP +oil NN I-NP +to TO B-PP +the DT B-NP +Soviet NNP I-NP +Union NNP I-NP +. . O + +On IN B-PP +top NN B-NP +of IN B-PP +all PDT B-NP +this DT I-NP +, , O +corn NN B-NP +and CC I-NP +soybean NN I-NP +prices NNS I-NP +rose VBD B-VP +on IN B-PP +reports NNS B-NP +that IN B-SBAR +the DT B-NP +Midwest NNP I-NP +harvest NN I-NP +was VBD B-VP +disrupted VBN I-VP +by IN B-PP +a DT B-NP +freakishly RB I-NP +early JJ I-NP +snow NN I-NP +storm NN I-NP +that WDT B-NP +dumped VBD B-VP +several JJ B-NP +inches NNS I-NP +in IN B-PP +parts NNS B-NP +of IN B-PP +Indiana NNP B-NP +and CC I-NP +Ohio NNP I-NP +. . O + +The DT B-NP +harvest NN I-NP +delays NNS I-NP +, , O +however RB B-ADVP +, , O +are VBP B-VP +expected VBN I-VP +to TO I-VP +be VB I-VP +temporary JJ B-ADJP +. . O + +Balmy JJ B-NP +temperatures NNS I-NP +are VBP B-VP +forecast NN I-VP +for IN B-PP +next JJ B-NP +week NN I-NP +, , O +said VBD B-VP +Robert NNP B-NP +Lekberg NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +at IN B-PP +Farmers NNP B-NP +Grain NNP I-NP +& CC I-NP +Livestock NNP I-NP +Corp. NNP I-NP +, , O +Chicago NNP B-NP +. . O + +Many JJ B-NP +farmers NNS I-NP +used VBD B-VP +the DT B-NP +jump NN I-NP +in IN B-PP +prices NNS B-NP +to TO B-VP +sell VB I-VP +their PRP$ B-NP +recently RB I-NP +harvested VBN I-NP +crop NN I-NP +to TO B-PP +grain NN B-NP +elevator NN I-NP +companies NNS I-NP +. . O + +The DT B-NP +heavy JJ I-NP +selling NN I-NP +by IN B-PP +farmers NNS B-NP +helped VBD B-VP +to TO I-VP +damp VB I-VP +the DT B-NP +price NN I-NP +rally NN I-NP +. . O + +Wheat JJ B-NP +futures NNS I-NP +prices NNS I-NP +rose VBD B-VP +slightly RB B-ADVP +. . O + +In IN B-PP +other JJ B-NP +commodity NN I-NP +markets NNS I-NP +yesterday NN I-NP +: : O + +PRECIOUS JJ B-NP +METALS NNS I-NP +: : O + +Futures NNS B-NP +prices NNS I-NP +declined VBD B-VP +. . O + +A DT B-NP +number NN I-NP +of IN B-PP +developments NNS B-NP +were VBD B-VP +negatively RB I-VP +interpreted VBN I-VP +by IN B-PP +traders NNS B-NP +. . O + +December NNP B-NP +delivery NN I-NP +gold NN I-NP +fell VBD B-VP +$ $ B-NP +1.80 CD I-NP +an DT B-NP +ounce NN I-NP +to TO B-PP +$ $ B-NP +370.60 CD I-NP +. . O + +December NNP B-NP +silver NN I-NP +eased VBD B-VP +2.7 CD B-NP +cents NNS I-NP +an DT B-NP +ounce NN I-NP +to TO B-PP +$ $ B-NP +5.133 CD I-NP +. . O + +January NNP B-NP +platinum NN I-NP +was VBD B-VP +down RB B-ADVP +$ $ B-NP +3.60 CD I-NP +an DT B-NP +ounce NN I-NP +at IN B-PP +$ $ B-NP +491.10 CD I-NP +. . O + +One CD B-NP +price-depressing JJ I-NP +development NN I-NP +was VBD B-VP +the DT B-NP +lower-than-expected JJ I-NP +increase NN I-NP +of IN B-PP +only RB B-NP +0.2 CD I-NP +% NN I-NP +in IN B-PP +the DT B-NP +consumer NN I-NP +price NN I-NP +index NN I-NP +for IN B-PP +September NNP B-NP +, , O +an DT B-NP +analyst NN I-NP +said VBD B-VP +. . O + +He PRP B-NP +noted VBD B-VP +that IN B-SBAR +the DT B-NP +`` `` I-NP +core NN I-NP +inflation NN I-NP +rate NN I-NP +, , O +'' '' O +which WDT B-NP +excludes VBZ B-VP +food NN B-NP +and CC I-NP +energy NN I-NP +, , O +was VBD B-VP +also RB B-ADVP +low JJ B-ADJP +at IN B-PP +0.2 CD B-NP +% NN I-NP +. . O + +Other JJ B-NP +news NN I-NP +that WDT B-NP +weighed VBD B-VP +on IN B-PP +the DT B-NP +market NN I-NP +: : O +Initial JJ B-NP +unemployment NN I-NP +claims NNS I-NP +rose VBD B-VP +by IN B-PP +62,000 CD B-NP +last JJ B-NP +week NN I-NP +; : O +American NNP B-NP +Telephone NNP I-NP +& CC I-NP +Telegraph NNP I-NP +Co. NNP I-NP +will MD B-VP +reduce VB I-VP +its PRP$ B-NP +managerial JJ I-NP +staff NN I-NP +by IN B-PP +15,000 CD B-NP +through IN B-PP +attrition NN B-NP +; : O +the DT B-NP +oil NN I-NP +market NN I-NP +turned VBD B-VP +weaker JJR B-ADJP +; : O +there EX B-NP +was VBD B-VP +n't RB O +any DT B-NP +investor NN I-NP +demand NN I-NP +for IN B-PP +bullion NN B-NP +; : O +and CC O +the DT B-NP +dollar NN I-NP +strengthened VBN B-VP +during IN B-PP +the DT B-NP +day NN I-NP +, , O +putting VBG B-VP +pressure NN B-NP +on IN B-PP +gold NN B-NP +. . O + +Also RB B-ADVP +, , O +the DT B-NP +analyst NN I-NP +said VBD B-VP +, , O +economic JJ B-NP +circumstances NNS I-NP +are VBP B-VP +such JJ B-ADJP +that IN B-SBAR +both DT B-NP +South NNP B-NP +Africa NNP I-NP +and CC O +the DT B-NP +Soviet NNP I-NP +Union NNP I-NP +, , O +the DT B-NP +principal JJ I-NP +gold NN I-NP +and CC I-NP +platinum NN I-NP +producers NNS I-NP +, , O +are VBP B-VP +being VBG I-VP +forced VBN I-VP +to TO I-VP +continue VB I-VP +selling VBG I-VP +the DT B-NP +metals NNS I-NP +. . O + +Both DT B-NP +are VBP B-VP +in IN B-PP +great JJ B-NP +need NN I-NP +of IN B-PP +foreign JJ B-NP +exchange NN I-NP +, , O +and CC O +South NNP B-NP +Africa NNP I-NP +is VBZ B-VP +also RB B-ADVP +under IN B-PP +pressure NN B-NP +to TO B-VP +meet VB I-VP +foreign JJ B-NP +loan NN I-NP +commitments NNS I-NP +, , O +he PRP B-NP +said VBD B-VP +. . O + +`` `` O +Putting VBG B-VP +it PRP B-NP +all DT B-NP +together RB B-ADVP +, , O +we PRP B-NP +have VBP B-VP +a DT B-NP +negative JJ I-NP +scenario NN I-NP +that WDT B-NP +does VBZ B-VP +n't RB I-VP +look VB I-VP +like IN B-SBAR +it PRP B-NP +will MD B-VP +improve VB I-VP +overnight JJ B-ADVP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +COPPER NN B-NP +: : O + +Futures NNS B-NP +prices NNS I-NP +recovered VBD B-VP +in IN B-PP +quiet JJ B-NP +trading NN I-NP +. . O + +The DT B-NP +December NNP I-NP +contract NN I-NP +rose VBD B-VP +1.50 CD B-NP +cents NNS I-NP +a DT B-NP +pound NN I-NP +to TO B-PP +$ $ B-NP +1.2795 CD I-NP +. . O + +That DT B-NP +contract NN I-NP +fell VBD B-VP +a DT B-NP +total NN I-NP +of IN B-PP +5.75 CD B-NP +cents NNS I-NP +during IN B-PP +the DT B-NP +first JJ I-NP +three CD I-NP +days NNS I-NP +of IN B-PP +this DT B-NP +week NN I-NP +, , O +mostly RB B-ADVP +in IN B-PP +reaction NN B-NP +to TO B-PP +last VB B-NP +Friday NNP I-NP +'s POS B-NP +stock NN I-NP +market NN I-NP +plunge NN I-NP +, , O +which WDT B-NP +prompted VBD B-VP +concern NN B-NP +that IN B-SBAR +it PRP B-NP +might MD B-VP +signal VB I-VP +a DT B-NP +similar JJ I-NP +sharp JJ I-NP +slowing NN I-NP +of IN B-PP +the DT B-NP +U.S. NNP I-NP +economy NN I-NP +and CC O +thus RB B-ADVP +reduced VBN B-VP +demand NN B-NP +for IN B-PP +copper NN B-NP +, , O +a DT B-NP +leading VBG I-NP +industrial JJ I-NP +metal NN I-NP +. . O + +In IN B-PP +recent JJ B-NP +days NNS I-NP +, , O +however RB B-ADVP +, , O +there EX B-NP +has VBZ B-VP +been VBN I-VP +increased VBN B-NP +purchasing VBG I-NP +of IN B-PP +copper NN B-NP +in IN B-PP +London NNP B-NP +, , O +an DT B-NP +analyst NN I-NP +said VBD B-VP +. . O + +Some DT B-NP +of IN B-PP +this DT B-NP +buying VBG I-NP +was VBD B-VP +by IN B-PP +Japan NNP B-NP +, , O +which WDT B-NP +has VBZ B-VP +had VBN I-VP +its PRP$ B-NP +supplies NNS I-NP +sharply RB B-ADVP +reduced VBN B-VP +by IN B-PP +long JJ B-NP +production NN I-NP +stoppages NNS I-NP +at IN B-PP +the DT B-NP +Bougainville NNP I-NP +mine NN I-NP +in IN B-PP +Papua NNP B-NP +New NNP I-NP +Guinea NNP I-NP +, , O +Highland NNP B-NP +Valley NNP I-NP +mine NN I-NP +in IN B-PP +British NNP B-NP +Columbia NNP I-NP +, , O +and CC O +the DT B-NP +Cananea NNP I-NP +mine NN I-NP +in IN B-PP +Mexico NNP B-NP +, , O +which WDT B-NP +are VBP B-VP +major JJ B-NP +shippers NNS I-NP +to TO B-PP +Japan NNP B-NP +. . O + +The DT B-NP +increasing VBG I-NP +likelihood NN I-NP +that IN B-SBAR +Cananea NNP B-NP +and CC O +Highland NNP B-NP +Valley NNP I-NP +will MD B-VP +soon RB I-VP +return VB I-VP +to TO B-PP +production NN B-NP +may MD B-VP +have VB I-VP +cut VBN I-VP +some DT B-NP +of IN B-PP +that DT B-NP +purchasing NN I-NP +, , O +but CC O +even RB B-SBAR +if IN I-SBAR +any DT B-NP +of IN B-PP +these DT B-NP +mines NNS I-NP +begin VBP B-VP +operating VBG I-VP +soon RB B-ADVP +, , O +their PRP$ B-NP +output NN I-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +significant JJ B-ADJP +until IN B-PP +at IN B-ADVP +least JJS I-ADVP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +year NN I-NP +, , O +analysts NNS B-NP +note VBP B-VP +. . O + +So RB B-ADVP +, , O +one CD B-NP +analyst NN I-NP +said VBD B-VP +, , O +even RB B-SBAR +though IN I-SBAR +the DT B-NP +long-term JJ I-NP +production NN I-NP +problems NNS I-NP +may MD B-VP +be VB I-VP +easing VBG I-VP +, , O +there EX B-NP +will MD B-VP +still RB I-VP +be VB I-VP +a DT B-NP +significant JJ I-NP +need NN I-NP +for IN B-PP +copper NN B-NP +over IN B-PP +the DT B-NP +next JJ I-NP +three CD I-NP +months NNS I-NP +, , O +when WRB B-ADVP +inventories NNS B-NP +will MD B-VP +remain VB I-VP +relatively RB B-ADJP +low JJ I-ADJP +. . O + +ENERGY NN B-NP +: : O + +Crude JJ B-NP +oil NN I-NP +prices NNS I-NP +ended VBD B-VP +mixed VBN B-ADJP +. . O + +West NNP B-NP +Texas NNP I-NP +Intermediate NNP I-NP +for IN B-PP +November NNP B-NP +delivery NN I-NP +fell VBD B-VP +14 CD B-NP +cents NNS I-NP +a DT B-NP +barrel NN I-NP +to TO B-PP +$ $ B-NP +20.42 CD I-NP +. . O + +But CC O +so-called JJ B-NP +outer JJ I-NP +month NN I-NP +contracts NNS I-NP +finished VBD B-VP +higher JJR B-ADVP +. . O + +For IN B-PP +instance NN B-NP +, , O +December NNP B-NP +contracts NNS I-NP +for IN B-PP +WTI NNP B-NP +rose VBD B-VP +17 CD B-NP +cents NNS I-NP +to TO B-PP +$ $ B-NP +20.42 CD I-NP +. . O + +Most JJS B-NP +energy NN I-NP +futures NNS I-NP +opened VBD B-VP +lower JJR B-ADVP +, , O +following VBG B-PP +Wednesday NNP B-NP +'s POS B-NP +market NN I-NP +downturn NN I-NP +. . O + +But CC O +a DT B-NP +flurry NN I-NP +of IN B-PP +late JJ B-NP +trading NN I-NP +yesterday NN B-NP +beefed VBN B-VP +up IN B-PRT +prices NNS B-NP +. . O + +Heating NN B-NP +oil NN I-NP +and CC I-NP +gasoline NN I-NP +futures NNS I-NP +ended VBD B-VP +higher JJR B-ADVP +as IN B-ADVP +well RB I-ADVP +. . O + +Melvin NNP B-NP +Belli NNP I-NP +'s POS B-NP +San NNP I-NP +Francisco NNP I-NP +law NN I-NP +offices NNS I-NP +may MD B-VP +have VB I-VP +been VBN I-VP +the DT B-NP +epicenter NN I-NP +of IN B-PP +legal JJ B-NP +activity NN I-NP +after IN B-PP +Tuesday NNP B-NP +'s POS B-NP +earthquake NN I-NP +. . O + +In IN B-PP +the DT B-NP +first JJ I-NP +25 CD I-NP +minutes NNS I-NP +after IN B-SBAR +his PRP$ B-NP +office NN I-NP +'s POS B-NP +telephone NN I-NP +service NN I-NP +was VBD B-VP +restored VBN I-VP +yesterday NN B-NP +morning NN I-NP +, , O +17 CD B-NP +potential JJ I-NP +clients NNS I-NP +had VBD B-VP +called VBN I-VP +seeking VBG B-VP +the DT B-NP +services NNS I-NP +of IN B-PP +the DT B-NP +self-proclaimed JJ I-NP +King NNP I-NP +of IN B-PP +Torts NNP B-NP +. . O + +Mr. NNP B-NP +Belli NNP I-NP +, , O +like IN B-PP +many JJ B-NP +other JJ I-NP +personal-injury JJ I-NP +lawyers NNS I-NP +, , O +suspects VBZ B-VP +that IN B-SBAR +the DT B-NP +earthquake NN I-NP +, , O +which WDT B-NP +measured VBD B-VP +6.9 CD B-NP +on IN B-PP +the DT B-NP +Richter NNP I-NP +scale NN I-NP +, , O +will MD B-VP +generate VB I-VP +enough JJ B-NP +lawsuits NNS I-NP +to TO B-VP +keep VB I-VP +this DT B-NP +city NN I-NP +'s POS B-NP +personal-injury NN B-UCP +and CC I-UCP +construction NN I-UCP +lawyers NNS B-NP +busy JJ B-ADJP +for IN B-PP +quite RB B-NP +some DT I-NP +time NN I-NP +. . O + +Suits NNS B-NP +are VBP B-VP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +filed VBN I-VP +against IN B-PP +engineering NN B-NP +firms NNS I-NP +, , O +contractors NNS B-NP +and CC O +developers NNS B-NP +, , O +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +against IN B-PP +local-government JJ B-NP +agencies NNS I-NP +. . O + +But CC O +lawyers NNS B-NP +looking VBG B-VP +to TO B-VP +cash VB I-VP +in IN B-PRT +on IN B-PP +the DT B-NP +quake NN I-NP +may MD B-VP +have VB I-VP +a DT B-NP +tough JJ I-NP +time NN I-NP +once RB B-SBAR +their PRP$ B-NP +cases NNS I-NP +reach VBP B-VP +a DT B-NP +judge NN I-NP +. . O + +Experts NNS B-NP +on IN B-PP +California NNP B-NP +tort NN I-NP +law NN I-NP +say VBP B-VP +protections NNS B-NP +afforded VBD B-VP +government NN B-NP +agencies NNS I-NP +in IN B-PP +such JJ B-NP +cases NNS I-NP +are VBP B-VP +pretty RB B-ADJP +ironclad JJ I-ADJP +. . O + +Even RB B-NP +claims VBZ I-NP +against IN B-PP +individuals NNS B-NP +and CC I-NP +companies NNS I-NP +face VBP B-VP +significant JJ B-NP +roadblocks NNS I-NP +. . O + +The DT B-NP +major JJ I-NP +legal JJ I-NP +barrier NN I-NP +is VBZ B-VP +the DT B-NP +principle NN I-NP +that IN B-SBAR +no DT B-NP +one PRP I-NP +can MD B-VP +be VB I-VP +held VBN I-VP +liable JJ B-ADJP +for IN B-PP +an DT B-NP +`` `` I-NP +act NN I-NP +of IN B-PP +God NNP B-NP +. . O +'' '' O + +For IN B-PP +now RB B-ADVP +, , O +says VBZ B-VP +Laurence NNP B-NP +Drivon NNP I-NP +, , O +president-elect NN B-NP +of IN B-PP +the DT B-NP +6,000-member NNP I-NP +California NNP I-NP +Trial NNP I-NP +Lawyers NNP I-NP +Association NNP I-NP +, , O +`` `` O +the DT B-NP +last JJ I-NP +thing NN I-NP +we PRP B-NP +really RB B-ADVP +need VBP B-VP +to TO I-VP +worry VB I-VP +about IN B-PP +is VBZ B-VP +whether IN B-SBAR +anybody NN B-NP +is VBZ B-VP +going VBG I-VP +to TO I-VP +get VB I-VP +sued VBD I-VP +, , O +or CC O +whether IN B-SBAR +they PRP B-NP +have VBP B-VP +liability NN B-NP +or CC O +not RB O +. . O + +We PRP B-NP +still RB B-ADVP +have VBP B-VP +people NNS B-NP +wandering VBG B-VP +around IN B-ADVP +in IN B-PP +a DT B-NP +daze NN I-NP +in IN B-PP +San NNP B-NP +Francisco NNP I-NP +worrying VBG B-VP +about IN B-PP +whether IN B-SBAR +it PRP B-NP +'s VBZ B-VP +going VBG I-VP +to TO I-VP +rain VB I-VP +tonight RB B-NP +. . O +'' '' O + +But CC O +that DT B-NP +wo MD B-VP +n't RB I-VP +stop VB I-VP +plaintiffs NNS B-NP +' POS B-NP +lawyers NNS I-NP +from IN B-PP +seeking VBG B-VP +a DT B-NP +little JJ I-NP +room NN I-NP +for IN B-PP +maneuvering NN B-NP +. . O + +In IN B-PP +San NNP B-NP +Francisco NNP I-NP +, , O +they PRP B-NP +argue VBP B-VP +, , O +an DT B-NP +earthquake NN I-NP +was VBD B-VP +a DT B-NP +near JJ I-NP +certainty NN I-NP +. . O + +Therefore RB B-ADVP +, , O +engineering NN B-NP +firms NNS I-NP +, , I-NP +construction NN I-NP +contractors NNS I-NP +and CC I-NP +developers NNS I-NP +can MD B-VP +be VB I-VP +sued VBN I-VP +for IN B-PP +not RB O +keeping VBG B-VP +structures NNS B-NP +up IN B-ADVP +to TO B-PP +standard JJ B-NP +, , O +and CC O +government NN B-NP +agencies NNS I-NP +can MD B-VP +be VB I-VP +held VBN I-VP +accountable JJ B-ADJP +for IN B-PP +failing VBG B-VP +to TO I-VP +properly RB I-VP +protect VB I-VP +citizens NNS B-NP +from IN B-PP +such JJ B-NP +a DT I-NP +foreseeable JJ I-NP +disaster NN I-NP +, , O +if IN B-SBAR +negligence NN B-NP +can MD B-VP +be VB I-VP +proven VBN I-VP +. . O + +`` `` O +My PRP$ B-NP +prediction NN I-NP +is VBZ B-VP +there EX B-NP +will MD B-VP +be VB I-VP +mass NN B-NP +litigation NN I-NP +over IN B-PP +errors NNS B-NP +and CC I-NP +omissions NNS I-NP +in IN B-PP +engineering NN B-NP +and CC I-NP +contracting NN I-NP +, , O +'' '' O +says VBZ B-VP +Stanley NNP B-NP +Chesley NNP I-NP +, , O +a DT B-NP +well-known JJ I-NP +Cincinnati NNP I-NP +plaintiffs NNS I-NP +lawyer NN I-NP +. . O + +From IN B-PP +what WP B-NP +he PRP B-NP +saw VBD B-VP +on IN B-PP +television NN B-NP +, , O +Mr. NNP B-NP +Chesley NNP I-NP +points VBZ B-VP +out RP B-PRT +that IN B-SBAR +Interstate NNP B-NP +880 CD I-NP +, , O +which WDT B-NP +collapsed VBD B-VP +and CC O +killed VBN B-VP +more JJR B-NP +than IN I-NP +200 CD I-NP +commuters NNS I-NP +, , O +suffered VBD B-VP +serious JJ B-NP +damage NN I-NP +while IN B-SBAR +surrounding VBG B-NP +buildings NNS I-NP +appeared VBD B-VP +to TO I-VP +sustain VB I-VP +no DT B-NP +damage NN I-NP +whatsoever RB I-NP +. . O + +He PRP B-NP +adds VBZ B-VP +that IN B-SBAR +`` `` O +they PRP B-NP +were VBD B-VP +aware JJ B-ADJP +of IN B-PP +the DT B-NP +propensity NN I-NP +for IN B-PP +earthquakes NNS B-NP +and CC O +the DT B-NP +San NNP I-NP +Andreas NNP I-NP +Fault NNP I-NP +. . O +'' '' O + +The DT B-NP +flamboyant JJ I-NP +and CC I-NP +publicity-conscious JJ I-NP +Mr. NNP I-NP +Belli NNP I-NP +says VBZ B-VP +he PRP B-NP +already RB B-ADVP +has VBZ B-VP +investigators NNS B-NP +looking VBG B-VP +into IN B-PP +who WP B-NP +could MD B-VP +be VB I-VP +held VBN I-VP +liable JJ B-ADJP +for IN B-PP +the DT B-NP +damage NN I-NP +on IN B-PP +the DT B-NP +Bay NNP I-NP +Bridge NNP I-NP +and CC O +the DT B-NP +interstate JJ I-NP +approaching VBG B-VP +it PRP B-NP +. . O + +`` `` O +We PRP B-NP +wo MD B-VP +n't RB I-VP +know VB I-VP +until IN B-SBAR +the DT B-NP +smoke NN I-NP +clears VBZ B-VP +-- : O +but CC O +yes UH B-INTJ +, , O +we PRP B-NP +'re VBP B-VP +looking VBG I-VP +into IN B-PP +it PRP B-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +Mr. NNP B-NP +Belli NNP I-NP +says VBZ B-VP +he PRP B-NP +wants VBZ B-VP +to TO I-VP +know VB I-VP +whether IN B-SBAR +state NN B-NP +or CC I-NP +federal JJ I-NP +engineers NNS I-NP +or CC O +private JJ B-NP +companies NNS I-NP +could MD B-VP +have VB I-VP +prevented VBN I-VP +the DT B-NP +damage NN I-NP +. . O + +Mr. NNP B-NP +Belli NNP I-NP +, , O +who WP B-NP +was VBD B-VP +at IN B-PP +Candlestick NNP B-NP +Park NNP I-NP +for IN B-PP +the DT B-NP +World NNP I-NP +Series NNP I-NP +Tuesday NNP B-NP +night NN I-NP +, , O +says VBZ B-VP +he PRP B-NP +has VBZ B-VP +hired VBN I-VP +civil JJ B-NP +engineers NNS I-NP +to TO B-VP +check VB I-VP +out IN B-PRT +his PRP$ B-NP +own JJ I-NP +mildly RB I-NP +damaged VBN I-NP +building NN I-NP +and CC O +to TO B-VP +investigate VB I-VP +the DT B-NP +bridge NN I-NP +collapse NN I-NP +. . O + +Defense NN B-NP +lawyers NNS I-NP +, , O +perhaps RB B-ADVP +understandably RB I-ADVP +, , O +say VBP B-VP +that IN B-SBAR +plaintiffs NNS B-NP +' POS B-NP +lawyers NNS I-NP +taking VBG B-VP +such JJ B-NP +an DT I-NP +approach NN I-NP +will MD B-VP +have VB I-VP +little JJ B-NP +success NN I-NP +in IN B-PP +pursuing VBG B-VP +their PRP$ B-NP +claims NNS I-NP +, , O +though IN B-SBAR +they PRP B-NP +add VBP B-VP +that IN B-SBAR +the DT B-NP +facts NNS I-NP +of IN B-PP +each DT B-NP +case NN I-NP +must MD B-VP +be VB I-VP +looked VBN I-VP +at IN B-PP +individually RB B-ADVP +. . O + +`` `` O +A DT B-NP +lot NN I-NP +of IN B-PP +this DT B-NP +is VBZ B-VP +going VBG I-VP +to TO I-VP +be VB I-VP +code-related JJ B-ADJP +, , O +'' '' O +says VBZ B-VP +Ignazio NNP B-NP +J. NNP I-NP +Ruvolo NNP I-NP +, , O +a DT B-NP +construction NN I-NP +law NN I-NP +specialist NN I-NP +at IN B-PP +Bronson NNP B-NP +, , I-NP +Bronson NNP I-NP +& CC I-NP +McKinnon NNP I-NP +, , O +a DT B-NP +San NNP I-NP +Francisco NNP I-NP +law NN I-NP +firm NN I-NP +. . O + +Plaintiffs NNS B-NP +, , O +he PRP B-NP +says VBZ B-VP +, , O +will MD B-VP +argue VB I-VP +that WDT B-SBAR +damaged VBD B-NP +structures NNS I-NP +were VBD B-VP +n't RB I-VP +built VBN I-VP +to TO B-PP +proper JJ B-NP +design NN I-NP +standards NNS I-NP +. . O + +But CC O +if IN B-SBAR +defendants NNS B-NP +can MD B-VP +prove VB I-VP +that IN B-SBAR +they PRP B-NP +met VBD B-VP +San NNP B-NP +Francisco NNP I-NP +'s POS B-NP +stringent JJ I-NP +building NN I-NP +codes NNS I-NP +, , O +`` `` O +that DT B-NP +'s VBZ B-VP +probably RB I-VP +going VBG I-VP +to TO I-VP +protect VB I-VP +them PRP B-NP +, , O +'' '' O +Mr. NNP B-NP +Ruvolo NNP I-NP +says VBZ B-VP +. . O + +Government NN B-NP +entities NNS I-NP +, , O +continues VBZ B-VP +Mr. NNP B-NP +Ruvolo NNP I-NP +, , O +could MD B-VP +be VB I-VP +protected VBN I-VP +by IN B-PP +the DT B-NP +California NNP I-NP +Government NNP I-NP +Tort NNP I-NP +Liability NNP I-NP +Act NNP I-NP +. . O + +Under IN B-PP +the DT B-NP +statute NN I-NP +, , O +agencies NNS B-NP +are VBP B-VP +provided VBN I-VP +`` `` O +defenses NNS B-NP +that IN B-NP +normally RB B-ADVP +are VBP B-VP +n't RB O +available JJ B-ADJP +in IN B-PP +the DT B-NP +private JJ I-NP +sector NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Ruvolo NNP I-NP +says VBZ B-VP +. . O + +`` `` O +The DT B-NP +legislature NN I-NP +does VBZ B-VP +not RB I-VP +want VB I-VP +to TO I-VP +inhibit VB I-VP +the DT B-NP +unique JJ I-NP +government NN I-NP +activities NNS I-NP +by IN B-PP +exposing VBG B-VP +public JJ B-NP +entities NNS I-NP +to TO B-PP +liability NN B-NP +. . O +'' '' O + +Built VBN B-VP +into IN B-PP +the DT B-NP +statute NN I-NP +are VBP B-VP +so-called JJ B-NP +design NN I-NP +immunities NNS I-NP +, , O +which WDT B-NP +are VBP B-VP +likely JJ B-ADJP +to TO B-VP +protect VB I-VP +government NN B-NP +agencies NNS I-NP +, , O +according VBG B-PP +to TO B-PP +Mr. NNP B-NP +Ruvolo NNP I-NP +and CC O +Richard NNP B-NP +Covert NNP I-NP +, , O +a DT B-NP +lawyer NN I-NP +with IN B-PP +the DT B-NP +California NNP I-NP +Department NNP I-NP +of IN B-PP +Transportation NNP B-NP +, , O +which WDT B-NP +oversees VBZ B-VP +the DT B-NP +damaged VBN I-NP +Bay NNP I-NP +Bridge NNP I-NP +. . O + +The DT B-NP +state NN I-NP +is VBZ B-VP +protected VBN I-VP +when WRB B-ADVP +plans NNS B-NP +and CC I-NP +designs NNS I-NP +for IN B-PP +public JJ B-NP +structures NNS I-NP +were VBD B-VP +approved VBN I-VP +ahead RB B-ADVP +of IN B-PP +time NN B-NP +or CC O +when WRB B-ADVP +structures NNS B-NP +met VBD B-VP +previously RB B-NP +approved VBN I-NP +standards NNS I-NP +, , O +says VBZ B-VP +Mr. NNP B-NP +Covert NNP I-NP +. . O + +He PRP B-NP +believes VBZ B-VP +those DT B-NP +defenses NNS I-NP +might MD B-VP +well RB I-VP +apply VB I-VP +to TO B-PP +the DT B-NP +Bay NNP I-NP +Bridge NNP I-NP +collapse NN I-NP +. . O + +Nevertheless RB B-ADVP +, , O +he PRP B-NP +adds VBZ B-VP +, , O +`` `` O +I PRP B-NP +would MD B-VP +n't RB I-VP +get VB I-VP +totally RB I-VP +shocked VBN I-VP +if IN B-SBAR +we PRP B-NP +get VBP B-VP +lawsuits NNS B-NP +out IN B-PP +of IN B-PP +the DT B-NP +Bay NNP I-NP +Bridge NNP I-NP +. . O +'' '' O + +If IN B-SBAR +there EX B-NP +'s VBZ B-VP +going VBG I-VP +to TO I-VP +be VB I-VP +a DT B-NP +race NN I-NP +to TO B-PP +the DT B-NP +courthouse NN I-NP +, , O +it PRP B-NP +has VBZ B-VP +n't RB I-VP +started VBN I-VP +yet RB B-ADVP +. . O + +Mr. NNP B-NP +Covert NNP I-NP +had VBD B-VP +to TO I-VP +search VB I-VP +through IN B-PP +law NN B-NP +books NNS I-NP +scattered VBN B-VP +on IN B-PP +the DT B-NP +floor NN I-NP +of IN B-PP +his PRP$ B-NP +office NN I-NP +yesterday NN B-NP +, , O +and CC O +Mr. NNP B-NP +Belli NNP I-NP +'s POS B-NP +courtyard NN I-NP +was VBD B-VP +strewn VBN I-VP +with IN B-PP +bricks NNS B-NP +. . O + +Wednesday NNP B-NP +, , O +Mr. NNP B-NP +Belli NNP I-NP +'s POS B-NP +staff NN I-NP +was VBD B-VP +n't RB I-VP +permitted VBN I-VP +into IN B-PP +his PRP$ B-NP +office NN I-NP +by IN B-PP +city NN B-NP +officials NNS I-NP +worried VBN B-VP +about IN B-PP +their PRP$ B-NP +safety NN I-NP +. . O + +He PRP B-NP +said VBD B-VP +he PRP B-NP +set VBD B-VP +up IN B-PRT +shop NN B-NP +on IN B-PP +the DT B-NP +sidewalk NN I-NP +in IN B-PP +front NN B-NP +of IN B-PP +his PRP$ B-NP +town-house JJ I-NP +office NN I-NP +and CC O +helped VBD B-VP +victims NNS B-NP +apply VBP B-VP +for IN B-PP +federal JJ B-NP +aid NN I-NP +-- : O +free JJ B-ADVP +of IN B-PP +charge NN B-NP +. . O + +In IN B-PP +a DT B-NP +news NN I-NP +release NN I-NP +issued VBN B-VP +by IN B-PP +Mr. NNP B-NP +Drivon NNP I-NP +, , O +the DT B-NP +trial NN I-NP +lawyers NNS I-NP +association NN I-NP +also RB B-ADVP +promised VBD B-VP +free JJ B-NP +assistance NN I-NP +to TO B-PP +victims NNS B-NP +. . O + +The DT B-NP +association NN I-NP +said VBD B-VP +it PRP B-NP +would MD B-VP +monitor VB I-VP +the DT B-NP +conduct NN I-NP +of IN B-PP +lawyers NNS B-NP +and CC O +warned VBD B-VP +that DT B-SBAR +solicitation NN B-NP +of IN B-PP +business NN B-NP +is VBZ B-VP +unethical JJ B-ADJP +. . O + +What WP B-NP +'s VBZ O +in IN B-PP +a DT B-NP +name NN I-NP +? . O + +Apparently RB B-ADVP +a DT B-NP +lot NN I-NP +, , O +according VBG B-PP +to TO B-PP +the DT B-NP +British JJ I-NP +firm NN I-NP +of IN B-PP +Deloitte NNP B-NP +, , I-NP +Haskins NNP I-NP +& CC I-NP +Sells NNP I-NP +. . O + +The DT B-NP +British JJ I-NP +firm NN I-NP +has VBZ B-VP +begun VBN I-VP +court NN B-NP +proceedings NNS I-NP +in IN B-PP +London NNP B-NP +to TO B-VP +prevent VB I-VP +the DT B-NP +use NN I-NP +of IN B-PP +the DT B-NP +name NN I-NP +`` `` I-NP +Deloitte NNP I-NP +'' '' O +by IN B-PP +Deloitte NNP B-NP +, , I-NP +Haskins NNP I-NP +& CC I-NP +Sells NNP I-NP +and CC O +Touche NNP B-NP +Ross NNP I-NP +& CC I-NP +Co. NNP I-NP +in IN B-PP +England NNP B-NP +and CC O +the DT B-NP +rest NN I-NP +of IN B-PP +the DT B-NP +world NN I-NP +. . O + +The DT B-NP +British NNP I-NP +Deloitte NNP I-NP +firm NN I-NP +recently RB B-ADVP +withdrew VBD B-VP +from IN B-PP +the DT B-NP +merger NN I-NP +of IN B-PP +Deloitte NNP B-NP +and CC I-NP +Touche NNP I-NP +world-wide JJ I-NP +and CC O +joined VBD B-VP +Coopers NNP B-NP +& CC I-NP +Lybrand NNP I-NP +. . O + +John NNP B-NP +Bullock NNP I-NP +, , O +senior JJ B-NP +partner NN I-NP +of IN B-PP +Deloitte NNP B-NP +in IN B-PP +the DT B-NP +U.K. NNP I-NP +, , O +said VBD B-VP +`` `` O +the DT B-NP +decision NN I-NP +to TO B-VP +start VB I-VP +these DT B-NP +proceedings NNS I-NP +has VBZ B-VP +n't RB I-VP +been VBN I-VP +taken VBN I-VP +lightly RB B-ADVP +. . O +'' '' O + +Mr. NNP B-NP +Bullock NNP I-NP +said VBD B-VP +the DT B-NP +British JJ I-NP +firm NN I-NP +has VBZ B-VP +used VBN I-VP +the DT B-NP +name NN I-NP +`` `` I-NP +Deloitte NNP I-NP +'' '' O +since IN B-PP +1845 CD B-NP +. . O + +In IN B-PP +the DT B-NP +U.S. NNP I-NP +, , O +Deloitte NNP B-NP +, , I-NP +Haskins NNP I-NP +& CC I-NP +Sells NNP I-NP +was VBD B-VP +known VBN I-VP +as IN B-PP +Haskins NNP B-NP +& CC I-NP +Sells NNP I-NP +until IN B-PP +1978 CD B-NP +, , O +when WRB B-ADVP +it PRP B-NP +added VBD B-VP +the DT B-NP +`` `` I-NP +Deloitte NNP I-NP +'' '' I-NP +name NN I-NP +of IN B-PP +its PRP$ B-NP +British JJ I-NP +affiliate NN I-NP +. . O + +John NNP B-NP +C. NNP I-NP +Burton NNP I-NP +, , O +an DT B-NP +accounting NN I-NP +professor NN I-NP +at IN B-PP +Columbia NNP B-NP +University NNP I-NP +'s POS B-NP +Graduate NNP I-NP +School NNP I-NP +of IN B-PP +Business NNP B-NP +, , O +said VBD B-VP +`` `` O +there EX B-NP +'s VBZ B-VP +a DT B-NP +lot NN I-NP +of IN B-PP +emotion NN B-NP +involved VBN B-VP +in IN B-PP +the DT B-NP +name NN I-NP +of IN B-PP +an DT B-NP +accounting NN I-NP +firm NN I-NP +with IN B-PP +a DT B-NP +long JJ I-NP +history NN I-NP +and CC B-PP +with IN B-PP +roots NNS B-NP +in IN B-PP +England NNP B-NP +, , O +where WRB B-ADVP +accounting NN B-NP +predates VBZ B-VP +the DT B-NP +U.S. NNP I-NP +. . O +'' '' O + +Although IN B-SBAR +accountants NNS B-NP +are VBP B-VP +n't RB I-VP +noted VBN I-VP +as IN B-PP +`` `` O +being VBG B-VP +deeply RB B-ADJP +emotional JJ I-ADJP +, , O +they PRP B-NP +really RB B-ADVP +hold VBP B-VP +it PRP B-NP +all DT B-NP +in NN B-PRT +, , O +'' '' O +said VBD B-VP +Mr. NNP B-NP +Burton NNP I-NP +, , O +former JJ B-NP +chief JJ I-NP +accountant NN I-NP +of IN B-PP +the DT B-NP +Securities NNP I-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +. . O + +J. NNP B-NP +Michael NNP I-NP +Cook NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +Deloitte NNP B-NP +, , I-NP +Haskins NNP I-NP +& CC I-NP +Sells NNP I-NP +International NNP I-NP +, , O +said VBD B-VP +he PRP B-NP +believes VBZ B-VP +the DT B-NP +legal JJ I-NP +action NN I-NP +by IN B-PP +the DT B-NP +British JJ I-NP +firm NN I-NP +`` `` O +to TO B-VP +be VB I-VP +without IN B-PP +merit NN B-NP +. . O +'' '' O + +Mr. NNP B-NP +Cook NNP I-NP +said VBD B-VP +that IN B-SBAR +last JJ B-NP +June NNP I-NP +, , O +the DT B-NP +international JJ I-NP +executive NN I-NP +committes NNS I-NP +of IN B-PP +Deloitte NNP B-NP +and CC I-NP +Touche NNP I-NP +agreed VBD B-VP +to TO B-PP +a DT B-NP +world-wide JJ I-NP +merger NN I-NP +. . O + +`` `` O +The DT B-NP +merger NN I-NP +is VBZ B-VP +proceeding VBG I-VP +according VBG B-PP +to TO B-PP +plan VB B-NP +, , O +except IN B-PP +as IN B-PP +to TO B-PP +the DT B-NP +withdrawal NN I-NP +of IN B-PP +the DT B-NP +Deloitte NNP I-NP +U.K. NNP I-NP +firm NN I-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +Partners NNS B-NP +at IN B-PP +other JJ B-NP +accounting NN I-NP +firms NNS I-NP +say VBP B-VP +that IN B-SBAR +the DT B-NP +Deloitte NNP I-NP +firm NN I-NP +in IN B-PP +the DT B-NP +U.K. NNP I-NP +is VBZ B-VP +filing VBG I-VP +the DT B-NP +suit NN I-NP +to TO B-VP +get VB I-VP +even RB B-PRT +with IN B-PP +the DT B-NP +merged VBN I-NP +Deloitte-Touche NNP I-NP +firm NN I-NP +for IN B-PP +keeping VBG B-VP +major JJ B-NP +auditing NN I-NP +work NN I-NP +in IN B-PP +England NNP B-NP +. . O + +General NNP B-NP +Motors NNPS I-NP +Corp. NNP I-NP +, , O +a DT B-NP +Deloitte NNP I-NP +audit NN I-NP +client NN I-NP +, , O +for IN B-PP +example NN B-NP +, , O +has VBZ B-VP +agreed VBN I-VP +to TO I-VP +keep VB I-VP +its PRP$ B-NP +annual JJ I-NP +$ $ I-NP +18 CD I-NP +million CD I-NP +world-wide JJ I-NP +audit NN I-NP +and CC I-NP +associated VBN I-NP +tax NN I-NP +work NN I-NP +with IN B-PP +the DT B-NP +merged VBN I-NP +Deloitte-Touche NNP I-NP +firm NN I-NP +, , O +to TO B-VP +be VB I-VP +known VBN I-VP +as IN B-PP +Deloitte NNP B-NP +& CC I-NP +Touche NNP I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +. . O + +In IN B-PP +England NNP B-NP +, , O +this DT B-NP +would MD B-VP +mean VB I-VP +that IN B-SBAR +the DT B-NP +British NNP I-NP +Deloitte NNP I-NP +would MD B-VP +lose VB I-VP +revenue NN B-NP +for IN B-PP +its PRP$ B-NP +audit NN I-NP +of IN B-PP +GM NNP B-NP +'s POS B-NP +Vauxhill NNP I-NP +unit NN I-NP +. . O + +The DT B-NP +defection NN I-NP +of IN B-PP +Deloitte NNP B-NP +'s POS B-NP +affiliates NNS I-NP +in IN B-PP +Britain NNP B-NP +and CC O +the DT B-NP +Netherlands NNP I-NP +to TO B-PP +Coopers NNP B-NP +& CC I-NP +Lybrand NNP I-NP +will MD B-VP +make VB I-VP +Coopers NNP B-NP +one CD B-NP +of IN B-PP +the DT B-NP +biggest JJS I-NP +accounting NN I-NP +firms NNS I-NP +in IN B-PP +Europe NNP B-NP +, , O +rivaling VBG B-VP +KPMG NNP B-NP +Peat NNP I-NP +Marwick NNP I-NP +there RB B-ADVP +. . O + +Although IN B-SBAR +Coopers NNP B-NP +has VBZ B-VP +n't RB I-VP +been VBN I-VP +courted VBN I-VP +by IN B-PP +other JJ B-NP +major JJ I-NP +accounting NN I-NP +firms NNS I-NP +for IN B-PP +a DT B-NP +merger NN I-NP +, , O +it PRP B-NP +is VBZ B-VP +benefiting VBG I-VP +greatly RB B-ADVP +from IN B-PP +fallout NN B-NP +from IN B-PP +the DT B-NP +Deloitte-Touche NNP I-NP +merger NN I-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +, , O +Harris NNP B-NP +Amhowitz NNP I-NP +, , O +general JJ B-NP +counsel NN I-NP +of IN B-PP +Coopers NNP B-NP +, , O +said VBD B-VP +Coopers NNP B-NP +`` `` O +was VBD B-VP +aware JJ B-ADJP +of IN B-PP +the DT B-NP +litigation NN I-NP +, , O +'' '' O +but CC O +he PRP B-NP +declined VBD B-VP +further JJ B-NP +comment NN I-NP +. . O + +He PRP B-NP +also RB B-ADVP +declined VBD B-VP +to TO I-VP +comment VB I-VP +on IN B-PP +the DT B-NP +name NN I-NP +that IN B-NP +Coopers NNP B-NP +would MD B-VP +use VB I-VP +in IN B-PP +England NNP B-NP +if IN B-SBAR +Deloitte NNP B-NP +UK NNP I-NP +won VBD B-VP +its PRP$ B-NP +litigation NN I-NP +to TO B-VP +keep VB I-VP +its PRP$ B-NP +name NN I-NP +. . O + +Coopers NNP B-NP +uses VBZ B-VP +the DT B-NP +Coopers NNP I-NP +& CC I-NP +Lybrand NNP I-NP +name NN I-NP +world-wide JJ B-ADVP +. . O + +William NNP B-NP +Bennett NNP I-NP +, , O +the DT B-NP +White NNP I-NP +House NNP I-NP +drug-policy NN I-NP +director NN I-NP +, , O +accused VBN B-VP +local JJ B-NP +officials NNS I-NP +in IN B-PP +the DT B-NP +Washington NNP I-NP +area NN I-NP +of IN B-PP +blocking VBG B-VP +construction NN B-NP +of IN B-PP +prison NN B-NP +facilities NNS I-NP +to TO B-VP +house VB I-VP +convicted VBN B-NP +drug NN I-NP +dealers NNS I-NP +. . O + +`` `` O +Politics NNP B-NP +has VBZ B-VP +essentially RB I-VP +put VB I-VP +up IN B-PRT +a DT B-NP +roadblock NN I-NP +'' '' O +to TO B-PP +finding VBG B-VP +sites NNS B-NP +for IN B-PP +new JJ B-NP +federal JJ I-NP +prisons NNS I-NP +, , O +Mr. NNP B-NP +Bennett NNP I-NP +said VBD B-VP +at IN B-PP +a DT B-NP +news NN I-NP +conference NN I-NP +called VBN B-VP +to TO B-VP +report VB I-VP +on IN B-PP +his PRP$ B-NP +`` `` I-NP +emergency NN I-NP +assistance NN I-NP +program NN I-NP +'' '' O +for IN B-PP +the DT B-NP +capital NN I-NP +. . O + +Without IN B-PP +more JJR B-NP +space NN I-NP +to TO B-VP +incarcerate VB I-VP +convicted VBN B-NP +criminals NNS I-NP +, , O +he PRP B-NP +added VBD B-VP +, , O +`` `` O +we PRP B-NP +will MD B-VP +not RB I-VP +win VB I-VP +the DT B-NP +war NN I-NP +on IN B-PP +drugs NNS B-NP +. . O +'' '' O + +Mr. NNP B-NP +Bennett NNP I-NP +declared VBD B-VP +in IN B-PP +April NNP B-NP +that IN B-SBAR +he PRP B-NP +would MD B-VP +make VB I-VP +Washington NNP B-NP +a DT B-NP +`` `` I-NP +test NN I-NP +case NN I-NP +'' '' O +for IN B-PP +how WRB B-ADVP +the DT B-NP +Bush NNP I-NP +administration NN I-NP +would MD B-VP +aid VB I-VP +cities NNS B-NP +afflicted VBN B-VP +by IN B-PP +heavy JJ B-NP +drug NN I-NP +trafficking NN I-NP +and CC O +violence NN B-NP +. . O + +The DT B-NP +drug NN I-NP +czar NN I-NP +claimed VBD B-VP +that IN B-SBAR +enforcement NN B-NP +efforts NNS I-NP +are VBP B-VP +working VBG I-VP +here RB B-ADVP +, , O +`` `` O +albeit IN B-ADVP +at IN B-PP +a DT B-NP +slower JJR I-NP +and CC I-NP +more JJR I-NP +halting VBG I-NP +pace NN I-NP +than IN B-SBAR +we PRP B-NP +would MD B-VP +like IN I-VP +. . O +'' '' O + +He PRP B-NP +acknowledged VBD B-VP +, , O +however RB B-ADVP +, , O +that IN B-SBAR +Washington NNP B-NP +'s POS B-NP +`` `` I-NP +drug-related JJ I-NP +murder NN I-NP +rate NN I-NP +is VBZ O +intolerably RB B-ADJP +high JJ I-ADJP +. . O + +The DT B-NP +prisons NNS I-NP +are VBP B-VP +too RB B-ADJP +crowded VBN I-ADJP +. . O + +Drugs NNS B-NP +continue VBP B-VP +to TO I-VP +be VB I-VP +sold VBN I-VP +openly RB B-ADVP +around IN B-PP +schools NNS B-NP +, , I-NP +parks NNS I-NP +and CC I-NP +housing NN I-NP +projects NNS I-NP +. . O +'' '' O + +Mr. NNP B-NP +Bennett NNP I-NP +declined VBD B-VP +to TO I-VP +name VB I-VP +the DT B-NP +area NN I-NP +officials NNS I-NP +who WP B-NP +he PRP B-NP +believes VBZ B-VP +have VBP B-VP +impeded VBN I-VP +plans NNS B-NP +for IN B-PP +building NN B-VP +more RBR B-NP +federal JJ I-NP +prisons NNS I-NP +to TO B-VP +ease VB I-VP +Washington NNP B-NP +'s POS B-NP +problem NN I-NP +. . O + +But CC O +other JJ B-NP +Bush NNP I-NP +administration NN I-NP +officials NNS I-NP +have VBP B-VP +criticized VBN I-VP +Maryland NNP B-NP +Gov. NNP I-NP +William NNP I-NP +Schaefer NNP I-NP +for IN B-PP +blocking VBG B-VP +the DT B-NP +use NN I-NP +of IN B-PP +possible JJ B-NP +sites NNS I-NP +in IN B-PP +that DT B-NP +state NN I-NP +. . O + +Administration NN B-NP +officials NNS I-NP +also RB B-ADVP +have VBP B-VP +said VBD I-VP +that IN B-SBAR +Washington NNP B-NP +Mayor NNP I-NP +Marion NNP I-NP +Barry NNP I-NP +has VBZ B-VP +delayed VBN I-VP +consideration NN B-NP +of IN B-PP +sites NNS B-NP +in IN B-PP +the DT B-NP +city NN I-NP +. . O + +In IN B-PP +a DT B-NP +letter NN I-NP +to TO B-PP +Mr. NNP B-NP +Bennett NNP I-NP +'s POS B-NP +office NN I-NP +, , O +released VBN B-VP +yesterday NN B-NP +, , O +Washington NNP B-NP +'s POS B-NP +city NN I-NP +administrator NN I-NP +, , O +Carol NNP B-NP +Thompson NNP I-NP +, , O +complained VBD B-VP +that IN B-SBAR +the DT B-NP +drug NN I-NP +czar NN I-NP +had VBD B-VP +exaggerated VBN I-VP +the DT B-NP +amount NN I-NP +of IN B-PP +federal JJ B-NP +drug-related JJ I-NP +assistance NN I-NP +provided VBN B-VP +to TO B-PP +the DT B-NP +capital NN I-NP +. . O + +Referring VBG B-VP +to TO B-PP +Mr. NNP B-NP +Bennett NNP I-NP +'s POS B-NP +claim NN I-NP +that IN B-SBAR +the DT B-NP +federal JJ I-NP +government NN I-NP +would MD B-VP +provide VB I-VP +$ $ B-NP +97 CD I-NP +million CD I-NP +in IN B-PP +emergency NN B-NP +federal JJ I-NP +support NN I-NP +, , O +Ms. NNP B-NP +Thompson NNP I-NP +wrote VBD B-VP +, , O +`` `` O +Our PRP$ B-NP +analysis NN I-NP +was VBD B-VP +unable JJ B-ADJP +to TO B-VP +even RB I-VP +come VB I-VP +close RB B-ADVP +to TO B-PP +documenting VBG B-VP +that DT B-NP +figure NN I-NP +. . O +'' '' O + +Of IN B-PP +his PRP$ B-NP +successes NNS I-NP +in IN B-PP +Washington NNP B-NP +, , O +Mr. NNP B-NP +Bennett NNP I-NP +stressed VBD B-VP +that IN B-SBAR +existing VBG B-NP +federal JJ I-NP +prisons NNS I-NP +have VBP B-VP +taken VBN I-VP +custody NN B-NP +of IN B-PP +375 CD B-NP +local JJ I-NP +inmates NNS I-NP +. . O + +He PRP B-NP +also RB B-ADVP +noted VBD B-VP +that IN B-SBAR +the DT B-NP +federal JJ I-NP +Drug NNP I-NP +Enforcement NNP I-NP +Administration NNP I-NP +has VBZ B-VP +established VBN I-VP +a DT B-NP +federal-local JJ I-NP +task NN I-NP +force NN I-NP +responsible JJ B-ADJP +since IN B-PP +April NNP B-NP +for IN B-PP +106 CD B-NP +arrests NNS I-NP +and CC O +more JJR B-NP +than IN I-NP +$ $ I-NP +2 CD I-NP +million CD I-NP +in IN B-PP +seizures NNS B-NP +of IN B-PP +drug NN B-NP +dealers NNS I-NP +' POS B-NP +assets NNS I-NP +. . O + +The DT B-NP +Defense NNP I-NP +Department NNP I-NP +has VBZ B-VP +lent VBN I-VP +the DT B-NP +Washington NNP I-NP +U.S. NNP I-NP +attorney NN I-NP +10 CD B-NP +prosecutors NNS I-NP +, , O +and CC O +the DT B-NP +Federal NNP I-NP +Bureau NNP I-NP +of IN B-PP +Investigation NNP B-NP +has VBZ B-VP +provided VBN I-VP +crime NN B-NP +laboratory NN I-NP +facilities NNS I-NP +and CC I-NP +training NN I-NP +, , O +he PRP B-NP +added VBD B-VP +. . O + +What WP B-NP +if IN B-SBAR +it PRP B-NP +happened VBD B-VP +to TO B-PP +us PRP B-NP +? . O + +In IN B-PP +the DT B-NP +wake NN I-NP +of IN B-PP +the DT B-NP +earthquake NN I-NP +in IN B-PP +California NNP B-NP +and CC O +the DT B-NP +devastation NN I-NP +of IN B-PP +Hurricane NNP B-NP +Hugo NNP I-NP +, , O +many JJ B-NP +companies NNS I-NP +in IN B-PP +disaster-prone JJ B-NP +areas NNS I-NP +are VBP B-VP +pondering VBG I-VP +the DT B-NP +question NN I-NP +of IN B-PP +preparedness NN B-NP +. . O + +Some DT B-NP +, , O +particularly RB B-ADVP +in IN B-PP +West NNP B-NP +Coast NNP I-NP +earthquake NN I-NP +zones NNS I-NP +, , O +are VBP B-VP +dusting VBG I-VP +off IN B-PRT +their PRP$ B-NP +evacuation NN I-NP +plans NNS I-NP +, , O +checking VBG B-VP +food NN B-NP +stocks NNS I-NP +and CC O +reminding VBG B-VP +employees NNS B-NP +of IN B-PP +what WP B-NP +to TO B-VP +do VB I-VP +if IN B-SBAR +emergency NN B-NP +strikes NNS B-VP +. . O + +Others NNS B-NP +say VBP B-VP +they PRP B-NP +feel VBP B-VP +confident JJ B-ADJP +that IN B-SBAR +steps NNS B-NP +they PRP B-NP +'ve VBP B-VP +already RB I-VP +taken VBN I-VP +would MD B-VP +see VB I-VP +them PRP B-NP +through IN B-PP +a DT B-NP +disaster NN I-NP +. . O + +Preparedness NN B-NP +involves VBZ B-VP +more JJR B-NP +than IN B-PP +flashlights NNS B-NP +and CC I-NP +fire NN I-NP +alarms VBZ I-NP +these DT B-NP +days NNS I-NP +. . O + +Some DT B-NP +big JJ I-NP +companies NNS I-NP +have VBP B-VP +teams NNS B-NP +of IN B-PP +in-house JJ B-NP +experts NNS I-NP +focusing VBG B-VP +on IN B-PP +safety NN B-NP +and CC I-NP +business NN I-NP +resumption NN I-NP +. . O + +Many JJ B-NP +companies NNS I-NP +in IN B-PP +the DT B-NP +path NN I-NP +of IN B-PP +potential JJ B-NP +disaster NN I-NP +have VBP B-VP +set VBN I-VP +up IN B-PRT +contingency NN B-NP +offices NNS I-NP +in IN B-PP +safe JJ B-NP +regions NNS I-NP +, , O +hoping VBG B-VP +they PRP B-NP +can MD B-VP +transport VB I-VP +employees NNS B-NP +there EX B-ADVP +and CC O +resume VB B-VP +operations NNS B-NP +quickly RB B-ADVP +. . O + +That DT B-NP +means VBZ B-VP +making VBG I-VP +sure JJ B-ADJP +that IN B-SBAR +copies NNS B-NP +of IN B-PP +vital JJ B-NP +computer NN I-NP +software NN I-NP +and CC I-NP +company NN I-NP +records NNS I-NP +are VBP B-VP +out IN B-PP +of IN B-PP +harm NN B-NP +'s POS B-NP +way NN I-NP +. . O + +Some DT B-NP +businesses NNS I-NP +-- : O +like IN B-PP +Disneyland NNP B-NP +-- : O +claim NN B-VP +that IN B-SBAR +even RB B-SBAR +if IN I-SBAR +they PRP B-NP +became VBD B-VP +isolated VBN B-ADJP +in IN B-PP +a DT B-NP +crisis NN I-NP +, , O +they PRP B-NP +would MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +feed VB I-VP +and CC O +care NN B-VP +for IN B-PP +their PRP$ B-NP +people NNS I-NP +for IN B-PP +as RB B-ADVP +long RB I-ADVP +as IN B-PP +five CD B-NP +days NNS I-NP +. . O + +`` `` O +Self-sufficiency NN B-NP +has VBZ B-VP +to TO I-VP +be VB I-VP +the DT B-NP +cornerstone NN I-NP +of IN B-PP +your PRP$ B-NP +plan NN I-NP +, , O +'' '' O +says VBZ B-VP +Stephanie NNP B-NP +Masaki-Schatz NNP I-NP +, , O +manager NN B-NP +of IN B-PP +corporate JJ B-NP +emergency NN I-NP +planning NN I-NP +at IN B-PP +Atlantic NNP B-NP +Richfield NNP I-NP +Co. NNP I-NP +in IN B-PP +Los NNP B-NP +Angeles NNP I-NP +. . O + +`` `` O +If IN B-SBAR +you PRP B-NP +do VBP B-VP +n't RB I-VP +save VB I-VP +your PRP$ B-NP +critical JJ I-NP +people NNS I-NP +, , O +you PRP B-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +bring VB I-VP +up IN B-PRT +your PRP$ B-NP +vital JJ I-NP +business NN I-NP +functions NNS I-NP +. . O +'' '' O + +Although IN B-SBAR +ARCO NNP B-NP +'s POS B-NP +head NN I-NP +office NN I-NP +, , O +more JJR B-NP +than IN I-NP +300 CD I-NP +miles NNS I-NP +from IN B-PP +the DT B-NP +epicenter NN I-NP +, , O +was VBD B-VP +n't RB I-VP +affected VBN I-VP +by IN B-PP +this DT B-NP +week NN I-NP +'s POS B-NP +tremors NNS I-NP +, , O +Ms. NNP B-NP +Masaki-Schatz NNP I-NP +used VBD B-VP +the DT B-NP +occasion NN I-NP +to TO B-VP +distribute VB I-VP +a DT B-NP +three-page JJ I-NP +memo NN I-NP +of IN B-PP +`` `` B-NP +Earthquake NNP I-NP +Tips NNP I-NP +'' '' O +to TO B-PP +1,200 CD B-NP +ARCO NNP I-NP +employees NNS I-NP +. . O + +`` `` O +You PRP B-NP +need VBP B-VP +to TO I-VP +capitalize VB I-VP +on IN B-PP +these DT B-NP +moments NNS I-NP +when WRB B-ADVP +you PRP B-NP +have VBP B-VP +everyone NN B-NP +'s POS B-NP +attention NN I-NP +, , O +'' '' O +she PRP B-NP +says VBZ B-VP +. . O + +`` `` O +It PRP B-NP +was VBD B-VP +a DT B-NP +good JJ I-NP +reminder NN I-NP +that IN B-SBAR +we PRP B-NP +all DT B-NP +need NN B-VP +to TO I-VP +prepare VB I-VP +prior RB B-ADVP +to TO B-PP +an DT B-NP +event NN I-NP +. . O +'' '' O + +The DT B-NP +ARCO NNP I-NP +memo NN I-NP +urges VBZ B-VP +employees NNS B-NP +to TO B-VP +keep VB I-VP +certain JJ B-NP +supplies NNS I-NP +at IN B-PP +work NN B-NP +, , O +such JJ B-PP +as IN I-PP +solid JJ B-NP +shoes NNS I-NP +and CC O +`` `` O +heavy JJ B-NP +gloves NNS I-NP +to TO B-VP +clear VB I-VP +debris NN B-NP +. . O +'' '' O + +It PRP B-NP +also RB B-ADVP +recommends VBZ B-VP +that IN B-SBAR +employees NNS B-NP +be VBP B-VP +aware JJ B-ADJP +of IN B-PP +everyday JJ B-NP +office NN I-NP +items NNS I-NP +that WDT B-NP +could MD B-VP +be VB I-VP +used VBN I-VP +for IN B-PP +emergency NN B-NP +care NN I-NP +or CC I-NP +shelter NN I-NP +. . O + +Among IN B-PP +the DT B-NP +suggestions NNS I-NP +: : O +Pantyhose NN B-NP +and CC O +men NNS B-NP +'s POS B-NP +ties NNS I-NP +could MD B-VP +be VB I-VP +used VBN I-VP +for IN B-PP +slings NNS B-NP +, , O +while IN B-SBAR +removable JJ B-NP +wooden JJ I-NP +shelves NNS I-NP +might MD B-VP +aid VB I-VP +in IN B-PP +`` `` O +breaking VBG B-VP +through IN B-PP +office NN B-NP +walls NNS I-NP +. . O +'' '' O + +ARCO NNP B-NP +maintains VBZ B-VP +an DT B-NP +office NN I-NP +in IN B-PP +Dallas NNP B-NP +that WDT B-NP +would MD B-VP +take VB I-VP +over IN B-PRT +if IN B-SBAR +payroll NN B-NP +operations NNS I-NP +in IN B-PP +Pasadena NNP B-NP +were VBD B-VP +disrupted VBN I-VP +. . O + +Two CD B-NP +months NNS I-NP +ago RB B-ADVP +the DT B-NP +company NN I-NP +set VBN B-VP +up IN B-PRT +a DT B-NP +toll-free JJ I-NP +number NN I-NP +, , O +based VBN B-VP +outside IN B-PP +California NNP B-NP +, , O +to TO B-VP +handle VB I-VP +queries NNS B-NP +from IN B-PP +employees NNS B-NP +about IN B-PP +when WRB B-ADVP +they PRP B-NP +should MD B-VP +report VB I-VP +back RB B-ADVP +to TO B-PP +work VB B-NP +after IN B-PP +an DT B-NP +earthquake NN I-NP +or CC I-NP +other JJ I-NP +disaster NN I-NP +. . O + +The DT B-NP +ARCO NNP I-NP +plan NN I-NP +takes VBZ B-VP +into IN B-PP +account NN B-NP +such JJ B-NP +details NNS I-NP +as IN B-PP +which WDT B-NP +aspects NNS I-NP +of IN B-PP +business NN B-NP +are VBP B-VP +busier JJR B-ADJP +at IN B-PP +certain JJ B-NP +times NNS I-NP +of IN B-PP +the DT B-NP +year NN I-NP +. . O + +This DT B-NP +way NN I-NP +, , O +depending VBG B-VP +on IN B-PP +when WRB B-ADVP +a DT B-NP +quake NN I-NP +might MD B-VP +strike VB I-VP +, , O +priorities NNS B-NP +can MD B-VP +be VB I-VP +assigned VBN I-VP +to TO B-PP +departments NNS B-NP +that WDT B-NP +should MD B-VP +be VB I-VP +brought VBN I-VP +back RB B-ADVP +on IN B-PP +line NN B-NP +first JJ B-ADVP +. . O + +At IN B-PP +Hewlett-Packard NNP B-NP +Co. NNP I-NP +, , O +the DT B-NP +earthquake NN I-NP +came VBD B-VP +just RB B-SBAR +as IN I-SBAR +the DT B-NP +company NN I-NP +was VBD B-VP +reviewing VBG I-VP +its PRP$ B-NP +own JJ I-NP +emergency NN I-NP +procedures NNS I-NP +. . O + +`` `` O +We PRP B-NP +were VBD B-VP +talking VBG I-VP +about IN B-PP +scheduling VBG B-VP +a DT B-NP +practice NN I-NP +drill NN I-NP +for IN B-PP +November NNP B-NP +, , O +'' '' O +says VBZ B-VP +Joan NNP B-NP +Tharp NNP I-NP +, , O +a DT B-NP +spokeswoman NN I-NP +. . O + +`` `` O +Then RB B-ADVP +we PRP B-NP +had VBD B-VP +a DT B-NP +real JJ I-NP +one CD I-NP +in IN B-PP +the DT B-NP +afternoon NN I-NP +. . O +'' '' O + +The DT B-NP +Palo NNP I-NP +Alto NNP I-NP +, , I-NP +Calif. NNP I-NP +, , I-NP +computer NN I-NP +maker NN I-NP +scrambled VBD B-VP +to TO I-VP +set VB I-VP +up IN B-PRT +a DT B-NP +special JJ I-NP +phone NN I-NP +line NN I-NP +to TO B-VP +tell VB I-VP +manufacturing NN B-NP +and CC I-NP +support NN I-NP +staff NN I-NP +to TO B-VP +stay VB I-VP +home NN B-ADVP +Wednesday NNP B-NP +. . O + +Sales NNS B-NP +and CC I-NP +service NN I-NP +employees NNS I-NP +were VBD B-VP +asked VBN I-VP +to TO B-VP +report VB I-VP +to TO B-PP +work VB B-NP +to TO B-VP +help VB I-VP +Bay NNP B-NP +area NN I-NP +clients NNS I-NP +who WP B-NP +called VBD B-VP +with IN B-PP +computer NN B-NP +problems NNS I-NP +. . O + +Hewlett-Packard NNP B-NP +also RB B-ADVP +called VBD B-VP +in IN B-PRT +its PRP$ B-NP +systems NNS I-NP +experts NNS I-NP +to TO B-VP +restore VB I-VP +its PRP$ B-NP +own JJ I-NP +computer NN I-NP +operations NNS I-NP +. . O + +`` `` O +That DT B-NP +means VBZ B-VP +we PRP B-NP +can MD B-VP +accept VB I-VP +orders NNS B-NP +'' '' O +and CC O +begin VB B-VP +getting VBG I-VP +back RB B-ADVP +to TO B-PP +normal JJ B-ADJP +, , O +says VBZ B-VP +Ms. NNP B-NP +Tharp NNP I-NP +. . O + +Prompted VBN B-VP +by IN B-PP +an DT B-NP +earlier RBR I-NP +California NNP I-NP +earthquake NN I-NP +, , O +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +a DT B-NP +fire NN I-NP +in IN B-PP +a DT B-NP +Los NNP I-NP +Angeles NNP I-NP +office NN I-NP +tower NN I-NP +, , O +Great NNP B-NP +Western NNP I-NP +Bank NNP I-NP +in IN B-PP +the DT B-NP +past JJ I-NP +year NN I-NP +hired VBN B-VP +three CD B-NP +emergency NN I-NP +planners NNS I-NP +and CC O +spent VBD B-VP +$ $ B-NP +75,000 CD I-NP +equipping VBG B-VP +a DT B-NP +trailer NN I-NP +with IN B-PP +communications NNS B-NP +gear VBP I-NP +to TO B-VP +serve VB I-VP +as IN B-PP +an DT B-NP +emergency NN I-NP +headquarters NN I-NP +. . O + +Although IN B-SBAR +officials NNS B-NP +of IN B-PP +the DT B-NP +savings NNS I-NP +and CC I-NP +loan NN I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +Great NNP B-NP +Western NNP I-NP +Financial NNP I-NP +Corp. NNP I-NP +, , O +used VBD B-VP +some DT B-NP +of IN B-PP +their PRP$ B-NP +new JJ I-NP +plans NNS I-NP +and CC I-NP +equipment NN I-NP +during IN B-PP +this DT B-NP +week NN I-NP +'s POS B-NP +quake NN I-NP +, , O +they PRP B-NP +still RB B-ADVP +lost VBD B-VP +touch NN B-NP +for IN B-PP +more JJR B-NP +than IN I-NP +24 CD I-NP +hours NNS I-NP +with IN B-PP +15 CD B-NP +branches NNS I-NP +in IN B-PP +the DT B-NP +affected VBN I-NP +areas NNS I-NP +, , O +not RB O +knowing VBG B-VP +if IN B-SBAR +employees NNS B-NP +were VBD B-VP +injured VBN I-VP +or CC O +vaults NNS B-NP +were VBD B-VP +broken VBN I-VP +open JJ B-ADJP +. . O + +`` `` O +Some DT B-NP +people NNS I-NP +flat JJ B-ADVP +out IN I-ADVP +did VBD B-VP +n't RB I-VP +know VB I-VP +what WP B-NP +to TO B-VP +do VB I-VP +, , O +'' '' O +says VBZ B-VP +Robert NNP B-NP +G. NNP I-NP +Lee NNP I-NP +, , O +vice NN B-NP +president NN I-NP +for IN B-PP +emergency NN B-NP +planning NN I-NP +and CC O +corporate JJ B-NP +security NN I-NP +at IN B-PP +Great NNP B-NP +Western JJ I-NP +. . O + +As IN B-SBAR +it PRP B-NP +turned VBD B-VP +out IN B-PRT +, , O +bank NN B-NP +employees NNS I-NP +were VBD B-VP +n't RB I-VP +hurt VBN I-VP +and CC O +the DT B-NP +vaults NNS I-NP +withstood VBD B-VP +the DT B-NP +jolts NNS I-NP +. . O + +Still RB B-ADVP +, , O +says VBZ B-VP +Mr. NNP B-NP +Lee NNP I-NP +: : O +`` `` O +We PRP B-NP +need VBP B-VP +to TO I-VP +educate VB I-VP +people NNS B-NP +that IN B-SBAR +they PRP B-NP +need VBP B-VP +to TO I-VP +get VB I-VP +to TO B-PP +a DT B-NP +phone NN I-NP +somehow RB B-ADVP +, , O +some DT B-NP +way NN I-NP +, , O +to TO B-VP +let VB I-VP +someone NN B-NP +know NN B-VP +what WP B-NP +their PRP$ B-NP +status NN I-NP +is NNS B-VP +. . O +'' '' O + +Some DT B-NP +companies NNS I-NP +are VBP B-VP +confident JJ B-ADJP +that IN B-SBAR +they PRP B-NP +'re VBP B-VP +prepared VBN B-ADJP +. . O + +Occidental NNP B-NP +Petroleum NNP I-NP +Corp. NNP I-NP +holds VBZ B-VP +regular JJ B-NP +evacuation NN I-NP +drills NNS I-NP +and CC O +stocks NNS B-VP +food NN B-NP +, , O +oxygen NN B-NP +and CC O +non-prescription JJ B-NP +drugs NNS I-NP +at IN B-PP +checkpoints NNS B-NP +in IN B-PP +its PRP$ B-NP +16-story JJ I-NP +headquarters NN I-NP +. . O + +The DT B-NP +company NN I-NP +also RB B-ADVP +maintains VBZ B-VP +rechargeable JJ B-NP +flashlights NNS I-NP +in IN B-PP +offices NNS B-NP +and CC O +changes NNS B-VP +its PRP$ B-NP +standby JJ I-NP +supply NN I-NP +of IN B-PP +drinking NN B-NP +water NN I-NP +every DT B-NP +three CD I-NP +months NNS I-NP +. . O + +`` `` O +We PRP B-NP +feel VBP B-VP +we PRP B-NP +are VBP B-VP +doing VBG I-VP +everything NN B-NP +we PRP B-NP +can MD B-VP +, , O +'' '' O +an DT B-NP +Occidental NNP I-NP +spokesman NN I-NP +says NNS B-VP +. . O + +Walt NNP B-NP +Disney NNP I-NP +Co. NNP I-NP +'s POS B-NP +Disneyland NNP I-NP +in IN B-PP +Anaheim NNP B-NP +, , O +Calif. NNP B-NP +, , O +stocks NNS B-VP +rescue NN B-NP +equipment NN I-NP +, , O +medical JJ B-NP +supplies NNS I-NP +, , O +and CC O +enough JJ B-NP +food NN I-NP +and CC I-NP +water NN I-NP +to TO B-VP +feed VB I-VP +at IN B-NP +least JJS I-NP +10,000 CD I-NP +visitors NNS I-NP +for IN B-PP +as RB B-ADVP +long RB I-ADVP +as IN B-PP +five CD B-NP +days NNS I-NP +in IN B-PP +the DT B-NP +event NN I-NP +that IN B-SBAR +a DT B-NP +calamity NN I-NP +isolates VBZ B-VP +the DT B-NP +theme NN I-NP +park NN I-NP +. . O + +The DT B-NP +park NN I-NP +also RB B-ADVP +has VBZ B-VP +emergency NN B-NP +centers NNS I-NP +where WRB B-ADVP +specially RB B-NP +trained VBN I-NP +employees NNS I-NP +would MD B-VP +go VB I-VP +to TO B-VP +coordinate VB I-VP +evacuation NN B-NP +and CC I-NP +rescue NN I-NP +plans NNS I-NP +using VBG B-VP +walkie-talkies NNS B-NP +, , O +cellular JJ B-NP +phones NNS I-NP +, , O +and CC O +a DT B-NP +public-address JJ I-NP +system NN I-NP +. . O + +The DT B-NP +centers NNS I-NP +are VBP B-VP +complete JJ B-ADJP +with IN B-PP +maps NNS B-NP +detailing VBG B-VP +utility NN B-NP +lines NNS I-NP +beneath IN B-PP +rides NNS B-NP +and CC O +`` `` O +safe JJ B-NP +havens NNS I-NP +'' '' O +where WRB B-ADVP +people NNS B-NP +can MD B-VP +be VB I-VP +assembled VBN I-VP +away RB B-ADVP +from IN B-PP +major JJ B-NP +structures NNS I-NP +. . O + +Vista NNP B-NP +Chemical NNP I-NP +Co. NNP I-NP +, , O +with IN B-PP +three CD B-NP +chemical NN I-NP +plants NNS I-NP +in IN B-PP +and CC I-PP +near IN I-PP +Lake NNP B-NP +Charles NNP I-NP +, , O +La. NNP B-NP +, , O +`` `` O +prepares VBZ B-VP +for IN B-PP +every DT B-NP +hurricane NN I-NP +that WDT B-NP +enters VBZ B-VP +the DT B-NP +Gulf NNP I-NP +of IN B-PP +Mexico NNP B-NP +, , O +'' '' O +says VBZ B-VP +Keith NNP B-NP +L. NNP I-NP +Fogg NNP I-NP +, , O +a DT B-NP +company NN I-NP +safety NN I-NP +director NN I-NP +. . O + +Hurricane NNP B-NP +Hugo NNP I-NP +, , O +an DT B-NP +Atlantic NNP I-NP +storm NN I-NP +, , O +did VBD B-VP +n't RB I-VP +affect VB I-VP +Vista NNP B-NP +. . O + +But CC O +two CD B-NP +other JJ I-NP +major JJ I-NP +storms NNS I-NP +have VBP B-VP +threatened VBN I-VP +operations NNS B-NP +so RB B-ADVP +far RB I-ADVP +this DT B-NP +year NN I-NP +, , O +most RBS B-ADVP +recently RB I-ADVP +Hurricane NNP B-NP +Jerry NNP I-NP +this DT B-NP +week NN I-NP +. . O + +Because IN B-SBAR +hurricanes NNS B-NP +can MD B-VP +change VB I-VP +course NN B-NP +rapidly RB B-ADVP +, , O +the DT B-NP +company NN I-NP +sends VBZ B-VP +employees NNS B-NP +home VBP B-ADVP +and CC O +shuts VBZ B-VP +down JJ O +operations NNS B-NP +in IN B-PP +stages NNS B-NP +-- : O +the DT O +closer JJR O +a DT B-NP +storm NN I-NP +gets VBZ B-VP +, , O +the DT O +more RBR B-ADJP +complete VB I-ADJP +the DT B-NP +shutdown NN I-NP +. . O + +The DT B-NP +company NN I-NP +does VBZ B-VP +n't RB I-VP +wait VB I-VP +until IN B-PP +the DT B-NP +final JJ I-NP +hours NNS I-NP +to TO B-VP +get VB I-VP +ready JJ B-ADJP +for IN B-PP +hurricanes NNS B-NP +. . O + +`` `` O +There EX B-NP +are VBP B-VP +just RB B-ADVP +tons NNS B-NP +of IN B-PP +things NNS B-NP +that WDT B-NP +have VBP B-VP +to TO I-VP +be VB I-VP +considered VBN I-VP +, , O +'' '' O +Mr. NNP B-NP +Fogg NNP I-NP +says VBZ B-VP +. . O + +`` `` O +Empty JJ B-NP +tank NN I-NP +cars NNS I-NP +will MD B-VP +float VB I-VP +away RB B-ADVP +on IN B-PP +you PRP B-NP +if IN B-SBAR +you PRP B-NP +get VBP B-VP +a DT B-NP +big JJ I-NP +tidal JJ I-NP +surge NN I-NP +. . O +'' '' O + +Still RB B-ADVP +, , O +Vista NNP B-NP +officials NNS I-NP +realize VBP B-VP +they PRP B-NP +'re VBP B-VP +relatively RB B-ADJP +fortunate JJ I-ADJP +. . O + +`` `` O +With IN B-PP +a DT B-NP +hurricane NN I-NP +you PRP B-NP +know VBP B-VP +it PRP B-NP +'s VBZ B-VP +coming VBG I-VP +. . O + +You PRP B-NP +have VBP B-VP +time NN B-NP +to TO B-VP +put VB I-VP +precautionary JJ B-NP +mechanisms NNS I-NP +in IN B-PP +place NN B-NP +, , O +'' '' O +notes VBZ B-VP +a DT B-NP +Vista NNP I-NP +spokeswoman NN I-NP +. . O + +`` `` O +A DT B-NP +situation NN I-NP +like IN B-PP +San NNP B-NP +Francisco NNP I-NP +is VBZ B-VP +so RB B-ADJP +frightening JJ I-ADJP +because IN B-SBAR +there EX B-NP +'s VBZ B-VP +no DT B-NP +warning NN I-NP +. . O + +Former JJ B-NP +Democratic JJ I-NP +fund-raiser NN I-NP +Thomas NNP I-NP +M. NNP I-NP +Gaubert NNP I-NP +, , O +whose WP$ B-NP +savings NNS I-NP +and CC I-NP +loan NN I-NP +was VBD B-VP +wrested VBN I-VP +from IN B-PP +his PRP$ B-NP +control NN I-NP +by IN B-PP +federal JJ B-NP +thrift NN I-NP +regulators NNS I-NP +, , O +has VBZ B-VP +been VBN I-VP +granted VBN I-VP +court NN B-NP +permission NN I-NP +to TO B-VP +sue VB I-VP +the DT B-NP +regulators NNS I-NP +. . O + +In IN B-PP +a DT B-NP +ruling NN I-NP +by IN B-PP +the DT B-NP +Fifth NNP I-NP +U.S. NNP I-NP +Circuit NNP I-NP +Court NNP I-NP +of IN B-PP +Appeals NNPS B-NP +in IN B-PP +New NNP B-NP +Orleans NNP I-NP +, , O +Mr. NNP B-NP +Gaubert NNP I-NP +received VBD B-VP +the DT B-NP +go-ahead NN I-NP +to TO B-VP +pursue VB I-VP +a DT B-NP +claim NN I-NP +against IN B-PP +the DT B-NP +Federal NNP I-NP +Home NNP I-NP +Loan NNP I-NP +Bank NNP I-NP +Board NNP I-NP +and CC O +the DT B-NP +Federal NNP I-NP +Home NNP I-NP +Loan NNP I-NP +Bank NNP I-NP +of IN B-PP +Dallas NNP B-NP +for IN B-PP +losses NNS B-NP +he PRP B-NP +suffered VBD B-VP +when WRB B-ADVP +the DT B-NP +Bank NNP I-NP +Board NNP I-NP +closed VBD B-VP +the DT B-NP +Independent NNP I-NP +American NNP I-NP +Savings NNP I-NP +Association NNP I-NP +of IN B-PP +Irving NNP B-NP +, , O +Texas NNP B-NP +. . O + +Mr. NNP B-NP +Gaubert NNP I-NP +, , O +who WP B-NP +was VBD B-VP +chairman NN B-NP +and CC O +the DT B-NP +majority NN I-NP +stockholder NN I-NP +of IN B-PP +Independent NNP B-NP +American NNP I-NP +, , O +had VBD B-VP +relinquished VBN I-VP +his PRP$ B-NP +control NN I-NP +in IN B-PP +exchange NN B-NP +for IN B-PP +federal JJ B-NP +regulators NNS I-NP +' POS B-NP +agreement NN I-NP +to TO B-VP +drop VB I-VP +their PRP$ B-NP +inquiry NN I-NP +into IN B-PP +his PRP$ B-NP +activities NNS I-NP +at IN B-PP +another DT B-NP +savings NNS I-NP +and CC I-NP +loan NN I-NP +. . O + +As IN B-PP +part NN B-NP +of IN B-PP +the DT B-NP +agreement NN I-NP +, , O +Mr. NNP B-NP +Gaubert NNP I-NP +contributed VBD B-VP +real JJ B-NP +estate NN I-NP +valued VBN B-VP +at IN B-PP +$ $ B-NP +25 CD I-NP +million CD I-NP +to TO B-PP +the DT B-NP +assets NNS I-NP +of IN B-PP +Independent NNP B-NP +American NNP I-NP +. . O + +While IN B-SBAR +under IN B-PP +the DT B-NP +control NN I-NP +of IN B-PP +federal JJ B-NP +regulators NNS I-NP +, , O +Independent NNP B-NP +American NNP I-NP +'s POS B-NP +net JJ I-NP +worth NN I-NP +dropped VBD B-VP +from IN B-PP +$ $ B-NP +75 CD I-NP +million CD I-NP +to TO B-PP +a DT B-NP +negative JJ I-NP +$ $ I-NP +400 CD I-NP +million CD I-NP +, , O +wiping VBG B-VP +out IN B-PRT +the IN B-NP +value NN I-NP +of IN B-PP +Mr. NNP B-NP +Gaubert NNP I-NP +'s POS B-NP +real JJ I-NP +estate NN I-NP +contribution NN I-NP +and CC O +his PRP$ B-NP +stock NN I-NP +in IN B-PP +the DT B-NP +institution NN I-NP +. . O + +Mr. NNP B-NP +Gaubert NNP I-NP +'s POS B-NP +suit NN I-NP +to TO B-VP +recover VB I-VP +his PRP$ B-NP +damages NNS I-NP +was VBD B-VP +dismissed VBN I-VP +last JJ B-NP +year NN I-NP +by IN B-PP +U.S. NNP B-NP +District NNP I-NP +Judge NNP I-NP +Robert NNP I-NP +Maloney NNP I-NP +of IN B-PP +Dallas NNP B-NP +under IN B-PP +the DT B-NP +Federal NNP I-NP +Tort NNP I-NP +Claims NNP I-NP +Act NNP I-NP +, , O +which WDT B-NP +offers VBZ B-VP +broad JJ B-NP +protection NN I-NP +for IN B-PP +actions NNS B-NP +by IN B-PP +federal JJ B-NP +agencies NNS I-NP +and CC I-NP +employees NNS I-NP +. . O + +Earlier RBR B-NP +this DT I-NP +week NN I-NP +, , O +a DT B-NP +Fifth NNP I-NP +Circuit NNP I-NP +appellate JJ I-NP +panel NN I-NP +upheld VBD B-VP +Judge NNP B-NP +Maloney NNP I-NP +'s POS B-NP +dismissal NN I-NP +of IN B-PP +Mr. NNP B-NP +Gaubert NNP I-NP +'s POS B-NP +claim NN I-NP +as IN B-PP +a DT B-NP +shareholder NN I-NP +but CC O +said VBD B-VP +the DT B-NP +judge NN I-NP +should MD B-VP +reconsider VB I-VP +Mr. NNP B-NP +Gaubert NNP I-NP +'s POS B-NP +claim NN I-NP +for IN B-PP +the DT B-NP +loss NN I-NP +of IN B-PP +his PRP$ B-NP +property NN I-NP +. . O + +`` `` O +It PRP B-NP +may MD B-VP +depend VB I-VP +on IN B-PP +whether IN O +there EX B-NP +was VBD B-VP +an DT B-NP +express NN I-NP +or CC I-NP +implied VBN I-NP +promise NN I-NP +... : O +that IN B-SBAR +the DT B-NP +federal JJ I-NP +officials NNS I-NP +would MD B-VP +not RB I-VP +negligently RB I-VP +cause VBG I-VP +the DT B-NP +deterioration NN I-NP +'' '' O +of IN B-PP +Independent NNP B-NP +American NNP I-NP +, , O +the DT B-NP +court NN I-NP +wrote VBD B-VP +. . O + +Mr. NNP B-NP +Gaubert NNP I-NP +'s POS B-NP +lawyer NN I-NP +, , O +Abbe NNP B-NP +David NNP I-NP +Lowell NNP I-NP +of IN B-PP +Washington NNP B-NP +, , O +D.C. NNP B-NP +, , O +says VBZ B-VP +the DT B-NP +impact NN I-NP +of IN B-PP +the DT B-NP +ruling NN I-NP +on IN B-PP +other JJ B-NP +cases NNS I-NP +involving VBG B-VP +thrift NN B-NP +takeovers NNS I-NP +will MD B-VP +depend VB I-VP +on IN B-PP +the DT B-NP +degree NN I-NP +of IN B-PP +similarity NN B-NP +in IN B-PP +the DT B-NP +facts NNS I-NP +. . O + +`` `` O +I PRP B-NP +do VBP B-VP +n't RB I-VP +know VB I-VP +if IN B-SBAR +this DT B-NP +will MD B-VP +affect VB I-VP +one CD B-NP +institution NN I-NP +or CC O +a DT B-NP +hundred CD I-NP +, , O +'' '' O +Mr. NNP B-NP +Lowell NNP I-NP +says VBZ B-VP +. . O + +`` `` O +It PRP B-NP +does VBZ B-VP +establish VB I-VP +a DT B-NP +very RB I-NP +clear JJ I-NP +precedent NN I-NP +for IN B-PP +suing VBG B-VP +the DT B-NP +FHLBB NNP I-NP +where WRB B-ADVP +there EX B-NP +was VBD B-VP +none NN B-NP +before IN B-ADVP +. . O +'' '' O + +MAITRE'D NNP B-NP +CLAIMS VBZ B-VP +in IN B-PP +suit NN B-NP +that DT B-SBAR +restaurant NN B-NP +fired VBD B-VP +her PRP B-NP +because IN B-SBAR +she PRP B-NP +was VBD B-VP +pregnant JJ B-ADJP +. . O + +In IN B-PP +a DT B-NP +suit NN I-NP +filed VBN B-VP +in IN B-PP +state NN B-NP +court NN I-NP +in IN B-PP +Manhattan NNP B-NP +, , O +the DT B-NP +American NNP I-NP +Civil NNP I-NP +Liberties NNP I-NP +Union NNP I-NP +is VBZ B-VP +representing VBG I-VP +the DT B-NP +former JJ I-NP +maitre NNP I-NP +'d MD I-NP +of IN B-PP +the DT B-NP +chic JJ I-NP +Odeon NNP I-NP +restaurant NN I-NP +. . O + +The DT B-NP +suit NN I-NP +, , O +which WDT B-NP +seeks VBZ B-VP +compensatory JJ B-NP +and CC I-NP +punitive JJ I-NP +damages NNS I-NP +of IN B-PP +$ $ B-NP +1 CD I-NP +million CD I-NP +, , O +alleges VBZ B-VP +that IN B-SBAR +the DT B-NP +firing NN I-NP +of IN B-PP +Marcia NNP B-NP +Trees NNP I-NP +Levine NNP I-NP +violated VBD B-VP +New NNP B-NP +York NNP I-NP +state NN I-NP +'s POS B-NP +human-rights JJ I-NP +law NN I-NP +. . O + +Among IN B-PP +other JJ B-NP +things NNS I-NP +, , O +the DT B-NP +law NN I-NP +prohibits VBZ B-VP +discrimination NN B-NP +on IN B-PP +the DT B-NP +basis NN I-NP +of IN B-PP +sex NN B-NP +and CC I-NP +pregnancy NN I-NP +. . O + +The DT B-NP +suit NN I-NP +alleges VBZ B-VP +that IN B-SBAR +Ms. NNP B-NP +Levine NNP I-NP +was VBD B-VP +fired VBN I-VP +after IN B-SBAR +she PRP B-NP +refused VBD B-VP +to TO I-VP +accept VB I-VP +a DT B-NP +lower JJR I-NP +paying VBG I-NP +, , I-NP +less RBR I-NP +visible JJ I-NP +job NN I-NP +upon IN B-PP +reaching VBG B-VP +her PRP$ B-NP +sixth JJ I-NP +month NN I-NP +of IN B-PP +pregnancy NN B-NP +. . O + +Ms. NNP B-NP +Levine NNP I-NP +told VBD B-VP +her PRP$ B-NP +employer NN I-NP +that IN B-SBAR +she PRP B-NP +was VBD B-VP +pregnant JJ B-ADJP +in IN B-PP +February NNP B-NP +; : O +a DT B-NP +month NN I-NP +later RB B-ADVP +, , O +the DT B-NP +suit NN I-NP +says VBZ B-VP +, , O +the DT B-NP +restaurant NN I-NP +manager NN I-NP +told VBD B-VP +Ms. NNP B-NP +Levine NNP I-NP +that IN B-SBAR +she PRP B-NP +would MD B-VP +be VB I-VP +demoted VBN I-VP +to TO B-PP +his PRP$ B-NP +assistant NN I-NP +because IN B-SBAR +he PRP B-NP +felt VBD B-VP +customers NNS B-NP +would MD B-VP +be VB I-VP +uncomfortable JJ B-ADJP +with IN B-PP +a DT B-NP +pregnant JJ I-NP +maitre NNP I-NP +'d MD I-NP +. . O + +Kary NNP B-NP +Moss NNP I-NP +, , O +an DT B-NP +attorney NN I-NP +with IN B-PP +the DT B-NP +ACLU NNP I-NP +'s POS B-NP +Women NNP I-NP +'s POS B-NP +Rights NNP I-NP +Project NNP I-NP +, , O +said VBD B-VP +, , O +`` `` O +They PRP B-NP +wanted VBD B-VP +a DT B-NP +svelte-looking JJ I-NP +woman NN I-NP +, , O +and CC O +a DT B-NP +pregnant JJ I-NP +woman NN I-NP +is VBZ B-VP +not RB O +svelte JJ B-ADJP +. . O + +They PRP B-NP +told VBD B-VP +her PRP$ B-NP +, , O +` `` O +We PRP B-NP +do VBP B-VP +n't RB I-VP +hire VB I-VP +fat JJ B-NP +people NNS I-NP +and CC O +we PRP B-NP +do VBP B-VP +n't RB I-VP +hire VB I-VP +cripples NNS B-NP +. . O + +And CC O +pregnant JJ B-NP +women NNS I-NP +are VBP B-VP +fat JJ B-ADJP +. . O +' '' O +'' '' O + +Ms. NNP B-NP +Moss NNP I-NP +said VBD B-VP +Ms. NNP B-NP +Levine NNP I-NP +secretly RB B-ADVP +taped VBD B-VP +many JJ B-NP +conversations NNS I-NP +with IN B-PP +her PRP$ B-NP +bosses NNS I-NP +at IN B-PP +the DT B-NP +Odeon NNP I-NP +in IN B-PP +which WDT B-NP +they PRP B-NP +told VBD B-VP +her PRP$ B-NP +she PRP B-NP +was VBD B-VP +being VBG I-VP +fired VBN I-VP +as IN B-PP +maitre NNP B-NP +'d MD I-NP +because IN B-SBAR +she PRP B-NP +was VBD B-VP +pregnant JJ B-ADJP +. . O + +Paul NNP B-NP +H. NNP I-NP +Aloe NNP I-NP +, , O +an DT B-NP +attorney NN I-NP +for IN B-PP +Odeon NNP B-NP +owner NN I-NP +Keith NNP I-NP +McNally NNP I-NP +, , O +denied VBD B-VP +the DT B-NP +allegations NNS I-NP +. . O + +He PRP B-NP +said VBD B-VP +Ms. NNP B-NP +Levine NNP I-NP +had VBD B-VP +never RB I-VP +been VBN I-VP +fired VBN I-VP +, , O +although IN B-SBAR +she PRP B-NP +had VBD B-VP +stopped VBN I-VP +working VBG I-VP +at IN B-PP +the DT B-NP +restaurant NN I-NP +. . O + +`` `` O +The DT B-NP +Odeon NNP I-NP +made VBD B-VP +a DT B-NP +written VBN I-NP +offer NN I-NP +to TO B-PP +Marcia NNP B-NP +Levine NNP I-NP +on IN B-PP +July NNP B-NP +10 CD I-NP +to TO B-VP +return VB I-VP +to TO B-PP +work VB B-NP +as IN B-PP +the DT B-NP +maitre NNP I-NP +'d MD I-NP +, , O +at IN B-PP +the DT B-NP +same JJ I-NP +pay NN I-NP +, , I-NP +same JJ I-NP +hours NNS I-NP +and CC B-PP +with IN B-PP +back JJ B-NP +pay NN I-NP +accrued VBN B-VP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +Mr. NNP B-NP +Aloe NNP I-NP +said VBD B-VP +the DT B-NP +Odeon NNP I-NP +`` `` O +has VBZ B-VP +no DT B-NP +policy NN I-NP +against IN B-PP +hiring VBG B-VP +pregnant JJ B-NP +people NNS I-NP +. . O +'' '' O + +LAWYERS NNS B-NP +IN IN B-PP +Texas NNP B-NP +'s POS B-NP +biggest JJS I-NP +bank-fraud NN I-NP +case NN I-NP +want VBP B-VP +out IN B-ADVP +in IN B-PP +face NN B-NP +of IN B-PP +retrial NN B-NP +. . O + +Lawyers NNS B-NP +representing VBG B-VP +five CD B-NP +of IN B-PP +the DT B-NP +seven CD I-NP +defendants NNS I-NP +in IN B-PP +the DT B-NP +case NN I-NP +say VBP B-VP +their PRP$ B-NP +clients NNS I-NP +can MD B-VP +no RB I-VP +longer RB I-VP +afford VB I-VP +their PRP$ B-NP +services NNS I-NP +. . O + +The DT B-NP +trial NN I-NP +of IN B-PP +the DT B-NP +case NN I-NP +lasted VBD B-VP +seven CD B-NP +months NNS I-NP +and CC O +ended VBD B-VP +in IN B-PP +September NNP B-NP +with IN B-PP +a DT B-NP +hung VBN I-NP +jury NN I-NP +. . O + +The DT B-NP +defendants NNS I-NP +were VBD B-VP +indicted VBN I-VP +two CD B-NP +years NNS I-NP +ago RB B-ADVP +on IN B-PP +charges NNS B-NP +that IN B-SBAR +they PRP B-NP +conspired VBD B-VP +to TO I-VP +defraud VB I-VP +five CD B-NP +thrifts NNS I-NP +of IN B-PP +more JJR B-NP +than IN I-NP +$ $ I-NP +130 CD I-NP +million CD I-NP +through IN B-PP +a DT B-NP +complicated VBN I-NP +scheme NN I-NP +to TO B-VP +inflate VB I-VP +the DT B-NP +price NN I-NP +of IN B-PP +land NN B-NP +and CC I-NP +condominium NN I-NP +construction NN I-NP +along IN B-PP +Interstate NNP B-NP +30 CD I-NP +, , O +east NN B-ADVP +of IN B-PP +Dallas NNP B-NP +. . O + +The DT B-NP +defense NN I-NP +lawyers NNS I-NP +, , O +three CD B-NP +of IN B-PP +whom WP B-NP +are VBP B-VP +solo NN B-NP +practitioners NNS I-NP +, , O +say VBP B-VP +they PRP B-NP +ca MD B-VP +n't RB I-VP +afford VB I-VP +to TO I-VP +put VB I-VP +their PRP$ B-NP +law NN I-NP +practices NNS I-NP +on IN B-PP +hold NN B-NP +for IN B-PP +another DT B-NP +seven-month JJ I-NP +trial NN I-NP +. . O + +Some DT B-NP +of IN B-PP +the DT B-NP +lawyers NNS I-NP +say VBP B-VP +they PRP B-NP +would MD B-VP +continue VB I-VP +to TO I-VP +represent VB I-VP +their PRP$ B-NP +clients NNS I-NP +if IN B-SBAR +the DT B-NP +government NN I-NP +pays VBZ B-VP +their PRP$ B-NP +tab NN I-NP +as IN B-PP +court-appointed JJ B-NP +lawyers NNS I-NP +. . O + +Assistant NNP B-NP +U.S. NNP I-NP +Attorney NNP I-NP +Terry NNP I-NP +Hart NNP I-NP +of IN B-PP +Dallas NNP B-NP +says VBZ B-VP +the DT B-NP +government NN I-NP +will MD B-VP +oppose VB I-VP +any DT B-NP +efforts NNS I-NP +to TO B-VP +bring VB I-VP +in IN B-PRT +a DT B-NP +new JJ I-NP +defense NN I-NP +team NN I-NP +because IN B-SBAR +it PRP B-NP +would MD B-VP +delay VB I-VP +a DT B-NP +retrial NN I-NP +. . O + +FEDERAL JJ B-NP +JUDGE NNP I-NP +ALCEE NNP I-NP +HASTINGS NNP I-NP +of IN B-PP +Florida NNP B-NP +, , O +facing VBG B-VP +impeachment NN B-NP +, , O +received VBD B-VP +an DT B-NP +unanticipated JJ I-NP +boost NN I-NP +yesterday NN B-NP +. . O + +Sen. NNP B-NP +Arlen NNP I-NP +Specter NNP I-NP +-LRB- ( O +R. NNP B-NP +, , O +Pa NNP B-NP +. . O +-RRB- ) O +urged VBD B-VP +acquittal NN B-NP +of IN B-PP +the DT B-NP +judge NN I-NP +in IN B-PP +a DT B-NP +brief NN I-NP +circulated VBD B-VP +to TO B-PP +his PRP$ B-NP +Senate NNP I-NP +colleagues NNS I-NP +during IN B-PP +closed-door JJ B-NP +deliberations NNS I-NP +. . O + +Among IN B-PP +other JJ B-NP +things NNS I-NP +, , O +the DT B-NP +brief NN I-NP +cited VBD B-VP +insufficient JJ B-NP +evidence NN I-NP +. . O + +Sen. NNP B-NP +Specter NNP I-NP +was VBD B-VP +vice NN B-NP +chairman NN I-NP +of IN B-PP +the DT B-NP +impeachment NN I-NP +trial NN I-NP +committee NN I-NP +that WDT B-NP +heard VBD B-VP +evidence NN B-NP +in IN B-PP +the DT B-NP +Hastings NNP I-NP +case NN I-NP +last JJ B-NP +summer NN I-NP +. . O + +A DT B-NP +former JJ I-NP +prosecutor NN I-NP +and CC I-NP +member NN I-NP +of IN B-PP +the DT B-NP +Senate NNP I-NP +Judiciary NNP I-NP +Committee NNP I-NP +, , O +Sen. NNP B-NP +Specter NNP I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +exercise VB I-VP +influence NN B-NP +when WRB B-ADVP +the DT B-NP +Senate NNP I-NP +votes NNS B-VP +on IN B-PP +the DT B-NP +impeachment NN I-NP +today NN B-NP +. . O + +RICHMOND NNP B-NP +RESIGNATIONS NNS I-NP +: : O + +Six CD B-NP +partners NNS I-NP +in IN B-PP +the DT B-NP +Richmond NNP I-NP +, , I-NP +Va. NNP I-NP +, , I-NP +firm NN I-NP +of IN B-PP +Browder NNP B-NP +, , I-NP +Russell NNP I-NP +, , I-NP +Morris NNP I-NP +& CC I-NP +Butcher NNP I-NP +announced VBD B-VP +they PRP B-NP +are VBP B-VP +resigning VBG I-VP +. . O + +Five CD B-NP +of IN B-PP +the DT B-NP +partners NNS I-NP +-- : O +James NNP B-NP +W. NNP I-NP +Morris NNP I-NP +, , O +Philip NNP B-NP +B. NNP I-NP +Morris NNP I-NP +, , O +Robert NNP B-NP +M. NNP I-NP +White NNP I-NP +, , O +Ann NNP B-NP +Adams NNP I-NP +Webster NNP I-NP +and CC O +Jacqueline NNP B-NP +G. NNP I-NP +Epps NNP I-NP +-- : O +are VBP B-VP +opening VBG I-VP +a DT B-NP +boutique NN I-NP +in IN B-PP +Richmond NNP B-NP +to TO B-VP +concentrate VB I-VP +on IN B-PP +corporate JJ B-NP +defense NN I-NP +litigation NN I-NP +, , O +particularly RB B-ADVP +in IN B-PP +product NN B-NP +liability NN I-NP +cases NNS I-NP +. . O + +The DT B-NP +sixth JJ I-NP +partner NN I-NP +, , O +John NNP B-NP +H. NNP I-NP +OBrion NNP I-NP +, , I-NP +Jr. NNP I-NP +, , O +is VBZ B-VP +joining VBG I-VP +Cowan NNP B-NP +& CC I-NP +Owen NNP I-NP +, , O +a DT B-NP +smaller JJR I-NP +firm NN I-NP +outside IN B-PP +Richmond NNP B-NP +. . O + +LAW NN B-NP +FIRM NN I-NP +NOTES NNS I-NP +: : O + +Nixon NNP B-NP +, , I-NP +Hargrave NNP I-NP +, , I-NP +Devans NNP I-NP +& CC I-NP +Doyle NNP I-NP +, , O +based VBN B-VP +in IN B-PP +Rochester NNP B-NP +, , O +N.Y. NNP B-NP +, , O +has VBZ B-VP +opened VBN I-VP +an DT B-NP +office NN I-NP +in IN B-PP +Buffalo NNP B-NP +, , O +N.Y NNP B-NP +... : O +. . O + +Mayer NNP B-NP +, , I-NP +Brown NNP I-NP +& CC I-NP +Platt NNP I-NP +, , O +Chicago NNP B-NP +, , O +added VBD B-VP +two CD B-NP +partners NNS I-NP +to TO B-PP +its PRP$ B-NP +Houston NNP I-NP +office NN I-NP +, , O +Eddy NNP B-NP +J. NNP I-NP +Roger NNP I-NP +Jr. NNP I-NP +, , O +and CC O +Jeff NNP B-NP +C. NNP I-NP +Dodd NNP I-NP +... : O +. . O + +Copyright NN B-NP +specialist NN I-NP +Neil NNP I-NP +Boorstyn NNP I-NP +, , O +who WP B-NP +writes VBZ B-VP +the DT B-NP +monthly JJ I-NP +Copyright NNP I-NP +Law NNP I-NP +Journal NNP I-NP +newsletter NN I-NP +, , O +is VBZ B-VP +joining VBG I-VP +McCutchen NNP B-NP +, , I-NP +Doyle NNP I-NP +, , I-NP +Brown NNP I-NP +& CC I-NP +Enersen NNP I-NP +. . O + +New NNP B-NP +York NNP I-NP +Times NNP I-NP +Co. NNP I-NP +'s POS B-NP +third-quarter JJ I-NP +earnings NNS I-NP +report NN I-NP +is VBZ B-VP +reinforcing VBG I-VP +analysts NNS B-NP +' POS B-NP +belief NN I-NP +that IN B-SBAR +newspaper NN B-NP +publishers NNS I-NP +will MD B-VP +be VB I-VP +facing VBG I-VP +continued VBN B-NP +poor JJ I-NP +earnings NNS I-NP +comparisons NNS I-NP +through IN B-PP +1990 CD B-NP +. . O + +The DT B-NP +publisher NN I-NP +was VBD B-VP +able JJ B-ADJP +to TO B-VP +register VB I-VP +soaring VBG B-NP +quarter NN I-NP +net JJ I-NP +income NN I-NP +because IN B-PP +of IN I-PP +a DT B-NP +onetime JJ I-NP +gain NN I-NP +on IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +its PRP$ B-NP +cable-TV NN I-NP +system NN I-NP +. . O + +However RB B-ADVP +, , O +operating VBG B-NP +profit NN I-NP +fell VBD B-VP +35 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +16.4 CD I-NP +million CD I-NP +. . O + +The DT B-NP +decline NN I-NP +reflected VBD B-VP +the DT B-NP +expense NN I-NP +of IN B-PP +buying VBG B-VP +three CD B-NP +magazines NNS I-NP +, , O +lower JJR B-NP +earnings NNS I-NP +from IN B-PP +the DT B-NP +forest-products NNS I-NP +group VBP I-NP +, , O +and CC O +what WP B-NP +is VBZ B-VP +proving VBG I-VP +to TO I-VP +be VB I-VP +a DT B-NP +nagging JJ I-NP +major JJ I-NP +problem NN I-NP +, , O +continued VBD B-NP +declines NNS I-NP +in IN B-PP +advertising NN B-NP +linage NN I-NP +at IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Times NNP I-NP +, , O +the DT B-NP +company NN I-NP +'s POS B-NP +flagship NN I-NP +daily JJ I-NP +newspaper NN I-NP +. . O + +In IN B-PP +composite JJ B-NP +trading NN I-NP +on IN B-PP +the DT B-NP +American NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +, , O +New NNP B-NP +York NNP I-NP +Times NNP I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +28.125 CD I-NP +a DT B-NP +share NN I-NP +, , O +down RB B-ADVP +37.5 CD B-NP +cents NNS I-NP +. . O + +Analysts NNS B-NP +said VBD B-VP +the DT B-NP +company NN I-NP +'s POS B-NP +troubles NNS I-NP +mirror VBP B-VP +those DT B-NP +of IN B-PP +the DT B-NP +industry NN I-NP +. . O + +Retail JJ B-NP +advertising NN I-NP +, , O +which WDT B-NP +often RB B-ADVP +represents VBZ B-VP +half NN B-NP +of IN B-PP +the DT B-NP +advertising NN I-NP +volume NN I-NP +at IN B-PP +most RBS B-NP +daily JJ I-NP +newspapers NNS I-NP +, , O +largely RB B-ADVP +is VBZ B-VP +n't RB I-VP +rebounding VBG I-VP +in IN B-PP +the DT B-NP +second JJ I-NP +half NN I-NP +from IN B-PP +extended VBN B-NP +doldrums NNS I-NP +as IN B-SBAR +expected VBN B-VP +. . O + +At IN B-PP +the DT B-NP +same JJ I-NP +time NN I-NP +, , O +newspapers NNS B-NP +are VBP B-VP +bedeviled VBN I-VP +by IN B-PP +lagging VBG B-NP +national JJ I-NP +advertising NN I-NP +, , O +especially RB B-ADVP +in IN B-PP +its PRP$ B-NP +financial JJ I-NP +component NN I-NP +. . O + +Dow NNP B-NP +Jones NNP I-NP +& CC I-NP +Co. NNP I-NP +recently RB B-ADVP +reported VBD B-VP +net NN B-NP +fell VBD B-VP +9.9 CD B-NP +% NN I-NP +, , O +a DT B-NP +reflection NN I-NP +, , O +in IN B-PP +part NN B-NP +, , O +of IN B-PP +continued VBN B-NP +softness NN I-NP +in IN B-PP +financial JJ B-NP +advertising NN I-NP +at IN B-PP +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +and CC O +Barron NNP B-NP +'s POS B-NP +magazine NN I-NP +. . O + +`` `` O +We PRP B-NP +expect VBP B-VP +next JJ B-NP +year NN I-NP +to TO B-VP +be VB I-VP +a DT B-NP +fairly RB I-NP +soft JJ I-NP +year NN I-NP +in IN B-PP +newspaper-industry JJ B-NP +advertising NN I-NP +, , O +'' '' O +said VBD B-VP +John NNP B-NP +Morton NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +for IN B-PP +Lynch NNP B-NP +, , I-NP +Jones NNP I-NP +& CC I-NP +Ryan NNP I-NP +. . O + +`` `` O +Next JJ B-NP +year NN I-NP +, , O +earnings NNS B-NP +will MD B-VP +hold VB I-VP +steady JJ B-ADJP +, , O +but CC O +we PRP B-NP +just RB B-ADVP +do VBP B-VP +n't RB I-VP +see VB I-VP +a DT B-NP +big JJ I-NP +turnaround NN I-NP +in IN B-PP +the DT B-NP +trend NN I-NP +in IN B-PP +advertising NN B-NP +. . O +'' '' O + +John NNP B-NP +S. NNP I-NP +Reidy NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +for IN B-PP +Drexel NNP B-NP +Burnham NNP I-NP +Lambert NNP I-NP +Inc. NNP I-NP +, , O +said VBD B-VP +, , O +`` `` O +The DT B-NP +Times NNP I-NP +faces VBZ B-VP +the DT B-NP +same JJ I-NP +problem NN I-NP +of IN B-PP +other JJ B-NP +publishers NNS I-NP +: : O +linage NN B-NP +is VBZ B-VP +down RB B-ADVP +. . O + +It PRP B-NP +will MD B-VP +be VB I-VP +hard JJ B-ADJP +to TO B-VP +do VB I-VP +handstands NNS B-NP +until IN B-SBAR +real JJ B-NP +linage NN I-NP +starts VBZ B-VP +heading VBG I-VP +back RB B-ADVP +up IN I-ADVP +. . O +'' '' O + +In IN B-PP +the DT B-NP +quarterly JJ I-NP +report NN I-NP +, , O +Arthur NNP B-NP +Ochs NNP I-NP +Sulzberger NNP I-NP +, , O +New NNP B-NP +York NNP I-NP +Times NNP I-NP +Co. NNP I-NP +chairman NN I-NP +and CC I-NP +chief JJ I-NP +executive JJ I-NP +officer NN I-NP +, , O +said VBD B-VP +negative JJ B-NP +factors NNS I-NP +affecting VBG B-VP +third-quarter JJ B-NP +earnings NNS I-NP +will MD B-VP +continue VB I-VP +. . O + +Analysts NNS B-NP +agreed VBD B-VP +with IN B-PP +company NN B-NP +expectations NNS I-NP +that IN B-SBAR +operating VBG B-NP +profit NN I-NP +will MD B-VP +be VB I-VP +down RP B-ADVP +this DT B-NP +year NN I-NP +and CC O +in IN B-PP +1990 CD B-NP +. . O + +Mr. NNP B-NP +Sulzberger NNP I-NP +said VBD B-VP +the DT B-NP +scheduled VBN I-NP +opening NN I-NP +of IN B-PP +a DT B-NP +new JJ I-NP +color-printing JJ I-NP +plant NN I-NP +in IN B-PP +Edison NNP B-NP +, , O +N.J. NNP B-NP +, , O +in IN B-PP +1990 CD B-NP +would MD B-VP +involve VB I-VP +heavy JJ B-NP +startup NN I-NP +and CC I-NP +depreciation NN I-NP +costs NNS I-NP +. . O + +`` `` O +With IN B-PP +the DT B-NP +Edison NNP I-NP +plant NN I-NP +coming VBG B-VP +on IN B-PP +line NN B-NP +next JJ B-NP +summer NN I-NP +, , O +the DT B-NP +Times NNP I-NP +is VBZ B-VP +facing VBG I-VP +some DT B-NP +tough JJ I-NP +earnings NNS I-NP +comparison NN I-NP +in IN B-PP +the DT B-NP +future NN I-NP +, , O +'' '' O +said VBD B-VP +Peter NNP B-NP +Appert NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +with IN B-PP +C.J. NNP B-NP +Lawrence NNP I-NP +, , I-NP +Morgan NNP I-NP +Grenfell NNP I-NP +. . O + +`` `` O +But CC O +many JJ B-NP +newspapers NNS I-NP +are VBP B-VP +facing VBG I-VP +similar JJ B-NP +comparisons NNS I-NP +. . O +'' '' O + +The DT B-NP +sale NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +cable NN I-NP +franchise NN I-NP +brought VBD B-VP +an DT B-NP +after-tax JJ I-NP +gain NN I-NP +of IN B-PP +$ $ B-NP +193.3 CD I-NP +million CD I-NP +, , O +part NN B-NP +of IN B-PP +which WDT B-NP +will MD B-VP +be VB I-VP +used VBN I-VP +to TO B-VP +reduce VB I-VP +debt NN B-NP +. . O + +The DT B-NP +company NN I-NP +also RB B-ADVP +has VBZ B-VP +a DT B-NP +stock-repurchase JJ I-NP +plan NN I-NP +. . O + +Analysts NNS B-NP +said VBD B-VP +they PRP B-NP +were VBD B-VP +impressed VBN I-VP +by IN B-PP +the DT B-NP +performance NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +newspaper NN I-NP +group NN I-NP +, , O +which WDT B-NP +consists VBZ B-VP +of IN B-PP +the DT B-NP +Times NNP I-NP +, , O +35 CD B-NP +regional JJ I-NP +newspapers NNS I-NP +and CC O +a DT B-NP +one-third NN I-NP +interest NN I-NP +in IN B-PP +the DT B-NP +International NNP I-NP +Herald NNP I-NP +Tribune NNP I-NP +; : O +group NN B-NP +operating VBG I-NP +profit NN I-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +increased VBN B-VP +slightly RB B-ADVP +to TO B-PP +$ $ B-NP +34.9 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +34.5 CD I-NP +million CD I-NP +on IN B-PP +flat JJ B-NP +revenue NN I-NP +. . O + +Drexel NNP B-NP +Burnham NNP I-NP +'s POS B-NP +Mr. NNP I-NP +Reidy NNP I-NP +pointed VBD B-VP +out RP B-PRT +that IN B-SBAR +`` `` O +profits NNS B-NP +held VBN B-VP +up IN B-PRT +in IN B-PP +a DT B-NP +tough JJ I-NP +revenue NN I-NP +environment NN I-NP +. . O + +That DT B-NP +'s VBZ B-VP +a DT B-NP +good JJ I-NP +sign NN I-NP +when WRB B-ADVP +profits NNS B-NP +are VBP B-VP +stable JJ B-ADJP +during IN B-PP +a DT B-NP +time NN I-NP +revenue NN B-NP +is VBZ B-VP +in IN B-PP +the DT B-NP +trough NN I-NP +. . O + +Investors NNS B-NP +celebrated VBD B-VP +the DT B-NP +second JJ I-NP +anniversary NN I-NP +of IN B-PP +Black NNP B-NP +Monday NNP I-NP +with IN B-PP +a DT B-NP +buying VBG I-NP +spree NN I-NP +in IN B-PP +both DT B-NP +stocks NNS I-NP +and CC I-NP +bonds NNS I-NP +. . O + +But CC O +the DT B-NP +dollar NN I-NP +was VBD B-VP +mixed VBN B-ADJP +. . O + +Stock NNP B-NP +and CC I-NP +bond NN I-NP +investors NNS I-NP +were VBD B-VP +cheered VBN I-VP +by IN B-PP +last JJ B-NP +month NN I-NP +'s POS B-NP +encouragingly RB B-ADJP +low JJ I-ADJP +inflation NN B-NP +rate NN I-NP +. . O + +This DT B-NP +news NN I-NP +raised VBN B-VP +hopes VBZ B-NP +for IN B-PP +further JJ B-NP +interest-rate NN I-NP +cuts NNS I-NP +. . O + +Treasury-bond JJ B-NP +prices NNS I-NP +immediately RB B-ADVP +rallied VBD B-VP +, , O +setting VBG B-VP +the DT B-NP +stock NN I-NP +market NN I-NP +rolling VBG B-VP +from IN B-PP +the DT B-NP +opening NN I-NP +bell NN I-NP +. . O + +The DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +, , O +up IN B-ADVP +about IN B-NP +60 CD I-NP +points NNS I-NP +in IN B-PP +mid-afternoon JJ B-NP +, , O +finished VBD B-VP +with IN B-PP +a DT B-NP +gain NN I-NP +of IN B-PP +39.55 CD B-NP +points NNS I-NP +, , O +to TO B-PP +2683.20 CD B-NP +. . O + +That DT B-NP +brought VBN B-VP +the DT B-NP +average NN I-NP +'s POS B-NP +cumulative JJ I-NP +gain NN I-NP +this DT B-NP +week NN I-NP +to TO B-PP +about IN B-NP +114 CD I-NP +points NNS I-NP +. . O + +Since IN B-PP +the DT B-NP +1987 CD I-NP +crash NN I-NP +, , O +the DT B-NP +industrials NNS I-NP +have VBP B-VP +soared VBN I-VP +more JJR B-NP +than IN I-NP +54 CD I-NP +% NN I-NP +, , O +and CC O +the DT B-NP +widely RB I-NP +watched VBN I-NP +market NN I-NP +barometer NN I-NP +is VBZ B-VP +about IN B-NP +4 CD I-NP +% NN I-NP +below IN B-PP +its PRP$ B-NP +record NN I-NP +high RB I-NP +set VBD B-VP +earlier RBR B-NP +this DT I-NP +month NN I-NP +. . O + +The DT B-NP +stock-market NN I-NP +rally NN I-NP +was VBD B-VP +led VBN I-VP +by IN B-PP +blue-chip JJ B-NP +issues NNS I-NP +, , O +but CC O +, , O +unlike IN B-PP +Monday NNP B-NP +'s POS B-NP +rebound NN I-NP +, , B-VP +was VBD I-VP +broadly RB B-ADJP +based VBN I-ADJP +. . O + +Indeed RB B-ADVP +, , O +over-the-counter JJ B-NP +stocks NNS I-NP +, , O +led VBN B-VP +by IN B-PP +technology NN B-NP +issues NNS I-NP +, , O +outleaped VBD B-VP +the DT B-NP +industrial JJ I-NP +average NN I-NP +. . O + +The DT B-NP +Nasdaq NNP I-NP +Composite NNP I-NP +Index NNP I-NP +soared VBD B-VP +7.52 CD B-NP +, , O +or CC O +1.6 CD B-NP +% NN I-NP +, , O +to TO B-PP +470.80 CD B-NP +, , O +its PRP$ B-NP +highest JJS I-NP +one-day JJ I-NP +jump NN I-NP +in IN B-PP +points VBZ B-NP +this DT B-NP +year NN I-NP +. . O + +Many JJ B-NP +takeover-related JJ I-NP +stocks NNS I-NP +rose VBD B-VP +after IN B-PP +news NN B-NP +that IN B-SBAR +a DT B-NP +group NN I-NP +obtained VBD B-VP +financing NN B-NP +commitments NNS I-NP +for IN B-PP +the DT B-NP +proposed VBN I-NP +buy-out NN I-NP +of IN B-PP +American NNP B-NP +Medical NNP I-NP +International NNP I-NP +Inc NNP I-NP +. . O + +Among IN B-PP +the DT B-NP +biggest JJS I-NP +winners NNS I-NP +were VBD B-VP +brokerage-house NN B-NP +stocks NNS I-NP +, , O +responding VBG B-VP +to TO B-PP +heavy JJ B-NP +trading NN I-NP +volume NN I-NP +. . O + +The DT B-NP +government NN I-NP +said VBD B-VP +consumer NN B-NP +prices NNS I-NP +rose VBD B-VP +only RB B-NP +0.2 CD I-NP +% NN I-NP +last JJ B-NP +month NN I-NP +. . O + +Economists NNS B-NP +expected VBN B-VP +twice RB B-NP +as IN I-NP +large JJ I-NP +an DT I-NP +increase NN I-NP +. . O + +That DT B-NP +news NN I-NP +, , O +plus CC B-PP +recent JJ B-NP +signs NNS I-NP +of IN B-PP +economic JJ B-NP +sluggishness NN I-NP +, , O +greatly RB B-ADVP +increases NNS B-VP +pressure VBP B-NP +on IN B-PP +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +to TO B-VP +ease VB I-VP +credit NN B-NP +further RBR B-ADVP +, , O +which WDT B-NP +in IN B-PP +turn NN B-NP +would MD B-VP +be VB I-VP +good JJ B-NP +news NN I-NP +for IN B-PP +stocks NNS B-NP +, , O +investment NN B-NP +managers NNS I-NP +say VBP B-VP +. . O + +`` `` O +I PRP B-NP +see VBP B-VP +a DT B-NP +lot NN I-NP +of IN B-PP +evidence NN B-NP +indicating VBG B-VP +a DT B-NP +slower JJR I-NP +economy NN I-NP +, , O +and CC O +that DT B-NP +means VBZ B-VP +my PRP$ B-NP +interest-rate NN I-NP +outlook NN I-NP +has VBZ B-VP +a DT B-NP +downward JJ I-NP +tilt NN I-NP +, , O +'' '' O +said VBD B-VP +Garnett NNP B-NP +L. NNP I-NP +Keith NNP I-NP +Jr. NNP I-NP +, , O +vice NN B-NP +chairman NN I-NP +of IN B-PP +Prudential NNP B-NP +Insurance NNP I-NP +Co. NNP I-NP +of IN B-PP +America NNP B-NP +, , O +one CD B-NP +of IN B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +largest JJS I-NP +institutional JJ I-NP +investors NNS I-NP +. . O + +Fed JJ B-NP +officials NNS I-NP +probably RB B-ADVP +wo MD B-VP +n't RB I-VP +drive VB I-VP +down RB B-ADVP +rates VBZ B-NP +immediately RB B-ADVP +, , O +Mr. NNP B-NP +Keith NNP I-NP +said VBD B-VP +. . O + +Despite IN B-PP +the DT B-NP +inflation NN I-NP +news NN I-NP +, , O +several JJ B-NP +Fed NNP I-NP +officials NNS I-NP +still JJ B-ADVP +fear NN B-VP +consumer-price JJ B-NP +pressures NNS I-NP +will MD B-VP +intensify VB I-VP +because IN B-SBAR +they PRP B-NP +insist VBP B-VP +the DT B-NP +economy NN I-NP +is VBZ B-VP +stronger JJR B-ADJP +than IN B-SBAR +generally RB B-ADVP +believed VBD B-VP +. . O + +But CC O +Wall NNP B-NP +Street NNP I-NP +analysts NNS I-NP +expect VBP B-VP +further JJ B-NP +signs NNS I-NP +of IN B-PP +economic JJ B-NP +weakness NN I-NP +in IN B-PP +government NN B-NP +reports NNS I-NP +during IN B-PP +the DT B-NP +next JJ I-NP +few JJ I-NP +weeks NNS I-NP +. . O + +If IN B-SBAR +so RB B-ADVP +, , O +that WDT B-NP +will MD B-VP +cinch VB I-VP +the DT B-NP +case NN I-NP +for IN B-PP +another DT B-NP +shot NN I-NP +of IN B-PP +credit-easing JJ B-NP +within IN B-PP +a DT B-NP +month NN I-NP +or CC I-NP +so RB I-NP +. . O + +That DT B-NP +, , O +in IN B-PP +turn NN B-NP +, , O +is VBZ B-VP +expected VBN I-VP +to TO I-VP +persuade VB I-VP +banks NNS B-NP +to TO B-VP +cut VB I-VP +their PRP$ B-NP +prime JJ I-NP +lending NN I-NP +rate NN I-NP +, , O +a DT B-NP +benchmark NN I-NP +rate NN I-NP +on IN B-PP +many JJ B-NP +corporate JJ I-NP +and CC I-NP +consumer NN I-NP +loans NNS I-NP +, , O +by IN B-PP +half PDT B-NP +a DT I-NP +percentage NN I-NP +point NN I-NP +, , O +to TO B-PP +10 CD B-NP +% NN I-NP +. . O + +`` `` O +We PRP B-NP +'re VBP B-VP +not RB O +out IN B-PP +of IN B-PP +the DT B-NP +woods NNS I-NP +yet RB B-ADVP +by IN B-PP +any DT B-NP +means VBZ I-NP +, , O +'' '' O +said VBD B-VP +George NNP B-NP +R. NNP I-NP +Mateyo NNP I-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +executive NN I-NP +of IN B-PP +Carnegie NNP B-NP +Capital NNP I-NP +Management NNP I-NP +Co. NNP I-NP +, , O +Cleveland NNP B-NP +. . O + +But CC O +the DT B-NP +economy NN I-NP +`` `` O +is VBZ B-VP +slowing VBG I-VP +enough RB B-ADVP +to TO B-VP +give VB I-VP +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +leeway NN B-NP +to TO B-VP +reduce VB I-VP +interest NN B-NP +rates NNS I-NP +. . O +'' '' O + +But CC O +many JJ B-NP +individual JJ I-NP +investors NNS I-NP +are VBP B-VP +leery JJ B-ADJP +about IN B-PP +stocks NNS B-NP +because IN B-PP +of IN I-PP +fresh JJ B-NP +signs NNS I-NP +of IN B-PP +fragility NN B-NP +in IN B-PP +the DT B-NP +huge JJ I-NP +junk-bond NN I-NP +market NN I-NP +. . O + +Investors NNS B-NP +also RB B-ADVP +are VBP B-VP +anxious JJ B-ADJP +about IN B-PP +today NN B-NP +'s POS B-NP +`` `` I-NP +witching JJ I-NP +hour NN I-NP +, , O +'' '' O +the DT B-NP +monthly JJ I-NP +expiration NN I-NP +of IN B-PP +stock-index NN B-NP +futures NNS I-NP +and CC I-NP +options NNS I-NP +, , O +and CC O +options NNS B-NP +on IN B-PP +individual JJ B-NP +stocks NNS I-NP +. . O + +This DT B-NP +phenomenon NN I-NP +often RB B-ADVP +makes VBZ B-VP +stock NN B-NP +prices NNS I-NP +swing VBP B-VP +wildly RB B-ADVP +at IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +trading NN I-NP +session NN I-NP +. . O + +In IN B-PP +major JJ B-NP +market NN I-NP +activity NN I-NP +: : O +Stock NNP B-NP +prices NNS I-NP +surged VBD B-VP +in IN B-PP +heavy JJ B-NP +trading NN I-NP +. . O + +Volume NN B-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +rose VBD B-VP +to TO B-PP +198.1 CD B-NP +million CD I-NP +shares NNS I-NP +from IN B-PP +166.9 CD B-NP +million CD I-NP +Wednesday NNP B-NP +. . O + +Gaining VBG B-NP +Big NNP I-NP +Board NNP I-NP +issues NNS I-NP +outnumbered VBD B-VP +decliners NNS B-NP +by IN B-PP +1,235 CD B-NP +to TO O +355 CD B-NP +. . O + +The DT B-NP +dollar NN I-NP +was VBD B-VP +mixed VBN B-ADJP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +late JJ B-NP +yesterday NN I-NP +, , O +it PRP B-NP +was VBD B-VP +at IN B-PP +141.70 CD B-NP +yen NN I-NP +, , O +up IN B-ADVP +from IN B-PP +141.45 CD B-NP +yen NN I-NP +late JJ B-NP +Wednesday NNP I-NP +. . O + +But CC O +it PRP B-NP +fell VBD B-VP +to TO B-PP +1.8470 CD B-NP +marks NNS I-NP +from IN B-PP +1.8485 CD B-NP +. . O + +Tuesday NNP B-NP +'s POS B-NP +rout NN I-NP +of IN B-PP +a DT B-NP +GOP NNP I-NP +congressional JJ I-NP +hopeful NN I-NP +in IN B-PP +a DT B-NP +Mississippi NNP I-NP +district NN I-NP +that WDT B-NP +has VBZ B-VP +n't RB I-VP +backed VBN I-VP +a DT B-NP +Democratic JJ I-NP +presidential JJ I-NP +candidate NN I-NP +since IN B-PP +Adlai NNP B-NP +Stevenson NNP I-NP +is VBZ B-VP +another DT B-NP +reminder NN I-NP +that IN B-SBAR +, , O +at IN B-ADVP +least JJS I-ADVP +at IN B-PP +the DT B-NP +federal JJ I-NP +level NN I-NP +, , O +political JJ B-NP +`` `` I-NP +ticket NN I-NP +splitting NN I-NP +'' '' O +has VBZ B-VP +been VBN I-VP +on IN B-PP +the DT B-NP +rise NN I-NP +over IN B-PP +the DT B-NP +past JJ I-NP +half NN I-NP +century NN I-NP +. . O + +In IN B-PP +only RB B-NP +one CD I-NP +presidential JJ I-NP +election NN I-NP +year NN I-NP +prior RB B-ADVP +to TO B-PP +1948 CD B-NP +did VBD O +more JJR B-NP +than IN I-NP +20 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +congressional JJ I-NP +districts NNS I-NP +choose VBP B-VP +a DT B-NP +different JJ I-NP +party NN I-NP +'s POS B-NP +candidate NN I-NP +for IN B-PP +the DT B-NP +White NNP I-NP +House NNP I-NP +than IN B-PP +for IN B-PP +the DT B-NP +House NNP I-NP +of IN B-PP +Representatives NNPS B-NP +. . O + +Now RB B-ADVP +that DT B-NP +percentage NN I-NP +routinely RB B-VP +equals VBZ I-VP +a DT B-NP +third JJ I-NP +and CC O +twice RB B-VP +has VBZ I-VP +been VBN I-VP +above IN B-PP +40 CD B-NP +% NN I-NP +. . O + +As IN B-SBAR +we PRP B-NP +know VBP B-VP +, , O +voters NNS B-NP +tend VBP B-VP +to TO I-VP +favor VB I-VP +Republicans NNPS B-NP +more JJR B-ADVP +in IN B-PP +races NNS B-NP +for IN B-PP +president NN B-NP +than IN B-PP +in IN B-PP +those DT B-NP +for IN B-PP +Congress NNP B-NP +. . O + +In IN B-PP +every DT B-NP +presidential JJ I-NP +election NN I-NP +over IN B-PP +the DT B-NP +past JJ I-NP +half NN I-NP +century NN I-NP +, , O +except IN B-PP +for IN B-PP +the DT B-NP +Goldwater NNP I-NP +presidential JJ I-NP +candidacy NN I-NP +, , O +the DT B-NP +GOP NNP I-NP +has VBZ B-VP +captured VBN I-VP +a DT B-NP +greater JJR I-NP +percentage NN I-NP +of IN B-PP +the DT B-NP +major-party JJ I-NP +popular JJ I-NP +vote NN I-NP +for IN B-PP +president NN B-NP +than IN B-SBAR +it PRP B-NP +has VBZ B-VP +of IN B-PP +congressional JJ B-NP +seats NNS I-NP +or CC O +the DT B-NP +popular JJ I-NP +vote NN I-NP +for IN B-PP +Congress NNP B-NP +. . O + +Prior RB B-ADVP +to TO B-PP +1932 CD B-NP +, , O +the DT B-NP +pattern NN I-NP +was VBD B-VP +nearly RB B-ADVP +the DT B-NP +opposite NN I-NP +. . O + +What WP B-NP +accounts VBZ B-VP +for IN B-PP +the DT B-NP +results NNS I-NP +of IN B-PP +recent JJ B-NP +decades NNS I-NP +? . O + +A DT B-NP +simple JJ I-NP +economic JJ I-NP +theory NN I-NP +may MD B-VP +provide VB I-VP +at IN B-ADVP +least JJS I-ADVP +a DT B-NP +partial JJ I-NP +explanation NN I-NP +for IN B-PP +the DT B-NP +split NN I-NP +personality NN I-NP +displayed VBN B-VP +by IN B-PP +Americans NNPS B-NP +in IN B-PP +the DT B-NP +voting NN I-NP +booth NN I-NP +. . O + +The DT B-NP +theory NN I-NP +relies VBZ B-VP +on IN B-PP +three CD B-NP +assumptions NNS I-NP +: : O + +1 CD B-LST +-RRB- ) O +Voters NNS B-NP +can MD B-VP +`` `` I-VP +buy VB I-VP +'' '' O +one CD B-NP +of IN B-PP +two CD B-NP +brands NNS I-NP +when WRB B-ADVP +they PRP B-NP +select VBP B-VP +their PRP$ B-NP +political JJ I-NP +agents NNS I-NP +-- : O +a DT B-NP +Republican NNP I-NP +brand NN I-NP +that WDT B-NP +believes VBZ B-VP +in IN B-PP +the DT B-NP +minimalist JJ I-NP +state NN I-NP +and CC B-PP +in IN B-PP +the DT B-NP +virtues NNS I-NP +of IN B-PP +private JJ B-NP +markets NNS I-NP +over IN B-PP +the DT B-NP +vices NNS I-NP +of IN B-PP +public JJ B-NP +action NN I-NP +, , O +and CC O +a DT B-NP +Democratic JJ I-NP +brand NN I-NP +that WDT B-NP +believes VBZ B-VP +in IN B-PP +big JJ B-NP +government NN I-NP +and CC B-PP +in IN B-PP +public JJ B-NP +intervention NN I-NP +to TO B-VP +remedy VB I-VP +the DT B-NP +excesses NNS I-NP +attendant NN B-ADJP +to TO B-PP +the DT B-NP +pursuit NN I-NP +of IN B-PP +private JJ B-NP +interest NN I-NP +. . O + +2 CD B-LST +-RRB- ) O +Congressional NNP B-NP +representatives NNS I-NP +have VBP B-VP +two CD B-NP +basic JJ I-NP +responsibilities NNS I-NP +while IN B-SBAR +voting NN B-VP +in IN B-PP +office NN B-NP +-- : O +dealing VBG B-VP +with IN B-PP +national JJ B-NP +issues NNS I-NP +-LRB- ( O +programmatic JJ B-NP +actions NNS I-NP +such JJ B-PP +as IN I-PP +casting VBG B-VP +roll NN B-NP +call NN I-NP +votes NNS I-NP +on IN B-PP +legislation NN B-NP +that WDT B-NP +imposes VBZ B-VP +costs NNS B-NP +and\/or NN O +confers VBZ B-VP +benefits NNS B-NP +on IN B-PP +the DT B-NP +population NN I-NP +at IN B-PP +large JJ B-ADJP +-RRB- ) O +and CC O +attending VBG B-VP +to TO B-PP +local JJ B-NP +issues NNS I-NP +-LRB- ( O +constituency NN B-NP +service NN I-NP +and CC O +pork NN B-NP +barrel NN I-NP +-RRB- ) O +. . O + +3 CD B-LST +-RRB- ) O +Republican NNP B-NP +congressional JJ I-NP +representatives NNS I-NP +, , O +because IN B-PP +of IN I-PP +their PRP$ B-NP +belief NN I-NP +in IN B-PP +a DT B-NP +minimalist JJ I-NP +state NN I-NP +, , O +are VBP B-VP +less RBR B-ADJP +willing JJ I-ADJP +to TO B-VP +engage VB I-VP +in IN B-PP +local JJ B-NP +benefit-seeking NN I-NP +than IN B-SBAR +are VBP O +Democratic JJ B-NP +members NNS I-NP +of IN B-PP +Congress NNP B-NP +. . O + +If IN B-SBAR +these DT B-NP +assumptions NNS I-NP +hold VBP B-VP +, , O +voters NNS B-NP +in IN B-PP +races NNS B-NP +for IN B-PP +Congress NNP B-NP +face NN B-VP +what WP B-NP +in IN B-PP +economic JJ B-NP +theory NN I-NP +is VBZ B-VP +called VBN I-VP +a DT B-NP +prisoner NN I-NP +'s POS B-NP +dilemma NN I-NP +and CC O +have VBP B-VP +an DT B-NP +incentive NN I-NP +, , O +at IN B-PP +the DT B-NP +margin NN I-NP +, , O +to TO B-VP +lean VB I-VP +Democratic JJ B-NP +. . O + +If IN B-SBAR +they PRP B-NP +put VBP B-VP +a DT B-NP +Republican NNP I-NP +into IN B-PP +office NN B-NP +, , O +not RB B-CONJP +only RB I-CONJP +will MD O +they PRP B-NP +acquire VB B-VP +less JJR B-NP +in IN B-PP +terms NNS B-NP +of IN B-PP +local JJ B-NP +benefits NNS I-NP +but CC O +their PRP$ B-NP +selected VBN I-NP +legislator NN I-NP +will MD B-VP +be VB I-VP +relatively RB B-ADJP +powerless JJ I-ADJP +to TO B-VP +prevent VB I-VP +other JJ B-NP +legislators NNS I-NP +from IN B-PP +`` `` O +bringing VBG B-VP +home NN B-ADVP +the DT B-NP +bacon NN I-NP +'' '' O +to TO B-PP +their PRP$ B-NP +respective JJ I-NP +constituencies NNS I-NP +. . O + +Each DT B-NP +legislator NN I-NP +, , O +after IN B-PP +all DT B-NP +, , O +is VBZ B-VP +only RB B-NP +one CD I-NP +out IN B-PP +of IN B-PP +535 CD B-NP +when WRB B-ADVP +it PRP B-NP +comes VBZ B-VP +to TO B-PP +national JJ B-NP +policy NN I-NP +making VBG I-NP +. . O + +In IN B-PP +races NNS B-NP +for IN B-PP +the DT B-NP +White NNP I-NP +House NNP I-NP +, , O +a DT B-NP +voter NN I-NP +'s POS B-NP +incentive NN I-NP +, , O +at IN B-PP +the DT B-NP +margin NN I-NP +, , O +is VBZ B-VP +to TO B-VP +lean VB I-VP +Republican NNP B-NP +. . O + +Although IN B-SBAR +a DT B-NP +GOP NNP I-NP +president NN I-NP +may MD B-VP +limit VB I-VP +local JJ B-NP +benefits NNS I-NP +to TO B-PP +the DT B-NP +voter NN I-NP +'s POS B-NP +particular JJ I-NP +district\/state NN I-NP +, , O +such JJ B-NP +a DT I-NP +president NN I-NP +is VBZ B-VP +also RB B-ADVP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +more RBR B-ADJP +effective JJ I-ADJP +at IN B-PP +preventing VBG B-VP +other JJ B-NP +districts\/states NNS I-NP +and CC O +their PRP$ B-NP +legislators NNS I-NP +from IN B-PP +bringing VBG B-VP +home NN B-ADVP +the DT B-NP +local JJ I-NP +benefits NNS I-NP +. . O + +The DT B-NP +individual JJ I-NP +voter NN I-NP +'s POS I-NP +standing VBG B-NP +consequently RB B-ADVP +will MD B-VP +be VB I-VP +enhanced VBN I-VP +through IN B-PP +lower JJR B-NP +taxes NNS I-NP +. . O + +While IN B-SBAR +this DT B-NP +theory NN I-NP +is VBZ B-VP +exceedingly RB B-ADJP +simple JJ I-ADJP +, , O +it PRP B-NP +appears VBZ B-VP +to TO I-VP +explain VB I-VP +several JJ B-NP +things NNS I-NP +. . O + +First RB B-ADVP +, , O +why WRB B-ADVP +ticket NN B-NP +splitting NN I-NP +has VBZ B-VP +increased VBN I-VP +and CC O +taken VBN B-VP +the DT B-NP +peculiar JJ I-NP +pattern NN I-NP +that IN B-NP +it PRP B-NP +has VBZ B-VP +over IN B-PP +the DT B-NP +past JJ I-NP +half NN I-NP +century NN I-NP +: : O +Prior RB B-ADVP +to TO B-PP +the DT B-NP +election NN I-NP +of IN B-PP +Franklin NNP B-NP +Roosevelt NNP I-NP +as IN B-PP +president NN B-NP +and CC O +the DT B-NP +advent NN I-NP +of IN B-PP +the DT B-NP +New NNP I-NP +Deal NNP I-NP +, , O +government NN B-NP +occupied VBD B-VP +a DT B-NP +much RB I-NP +smaller JJR I-NP +role NN I-NP +in IN B-PP +society NN B-NP +and CC O +the DT B-NP +prisoner NN I-NP +'s POS B-NP +dilemma NN I-NP +problem NN I-NP +confronting VBG B-VP +voters NNS B-NP +in IN B-PP +races NNS B-NP +for IN B-PP +Congress NNP B-NP +was VBD B-VP +considerably RB B-ADJP +less RBR I-ADJP +severe JJ I-ADJP +. . O + +Second JJ B-ADVP +, , O +it PRP B-NP +explains VBZ B-VP +why WRB B-ADVP +voters NNS B-NP +hold VBP B-VP +Congress NNP B-NP +in IN B-PP +disdain NN B-NP +but CC O +generally RB B-VP +love VBP I-VP +their PRP$ B-NP +own JJ I-NP +congressional JJ I-NP +representatives NNS I-NP +: : O +Any DT B-NP +individual JJ I-NP +legislator NN I-NP +'s POS B-NP +constituents NNS I-NP +appreciate VBP B-VP +the DT B-NP +specific JJ I-NP +benefits NNS I-NP +that IN B-NP +the DT B-NP +legislator NN I-NP +wins VBZ B-VP +for IN B-PP +them PRP B-NP +but CC B-NP +not RB I-NP +the DT B-NP +overall JJ I-NP +cost NN I-NP +associated VBN B-VP +with IN B-PP +every DT B-NP +other JJ I-NP +legislator NN I-NP +doing VBG B-VP +likewise RB B-ADVP +for IN B-PP +his PRP$ B-NP +own JJ I-NP +constituency NN I-NP +. . O + +Third NNP B-ADVP +, , O +the DT B-NP +theory NN I-NP +suggests VBZ B-VP +why WRB B-ADVP +legislators NNS B-NP +who WP B-NP +pay VBP B-VP +too RB B-NP +much JJ I-NP +attention NN I-NP +to TO B-PP +national JJ B-NP +policy NN I-NP +making VBG I-NP +relative JJ B-ADVP +to TO B-PP +local JJ B-NP +benefit-seeking NN I-NP +have VBP B-VP +lower JJR B-NP +security NN I-NP +in IN B-PP +office NN B-NP +. . O + +For IN B-PP +example NN B-NP +, , O +first-term JJ B-NP +members NNS I-NP +of IN B-PP +the DT B-NP +House NNP I-NP +, , O +once RB B-ADVP +the DT B-NP +most RBS I-NP +vulnerable JJ I-NP +of IN B-PP +incumbents NNS B-NP +, , O +have VBP B-VP +become VBN I-VP +virtually RB B-ADJP +immune JJ I-ADJP +to TO B-PP +defeat VB B-NP +. . O + +The DT B-NP +one CD I-NP +exception NN I-NP +to TO B-PP +this DT B-NP +recent JJ I-NP +trend NN I-NP +was VBD B-VP +the DT B-NP +defeat NN I-NP +of IN B-PP +13 CD B-NP +of IN B-PP +the DT B-NP +52 CD I-NP +freshman NN I-NP +Republicans NNPS I-NP +brought VBN B-VP +into IN B-PP +office NN B-NP +in IN B-PP +1980 CD B-NP +by IN B-PP +the DT B-NP +Reagan NNP I-NP +revolution NN I-NP +and CC O +running VBG B-VP +for IN B-PP +re-election NN B-NP +in IN B-PP +1982 CD B-NP +. . O + +Because IN B-SBAR +these DT B-NP +freshmen NNS I-NP +placed VBN B-VP +far RB B-NP +more JJR I-NP +emphasis NN I-NP +on IN B-PP +their PRP$ B-NP +partisan JJ I-NP +role NN I-NP +-- : O +spreading VBG B-VP +the DT B-NP +Reagan NNP I-NP +revolution NN I-NP +-- : O +in IN B-PP +national JJ B-NP +policy NN I-NP +making VBG I-NP +, , O +they PRP B-NP +were VBD B-VP +more RBR B-ADJP +vulnerable JJ I-ADJP +to TO B-PP +defeat VB B-NP +. . O + +Fourth NNP B-ADVP +, , O +the DT B-NP +theory NN I-NP +indicates VBZ B-VP +why WRB B-ADVP +the DT B-NP +Republican NNP I-NP +Party NNP I-NP +may MD B-VP +have VB I-VP +a DT B-NP +difficult JJ I-NP +time NN I-NP +attracting VBG B-VP +viable JJ B-NP +candidates NNS I-NP +for IN B-PP +congressional JJ B-NP +office NN I-NP +. . O + +Potential JJ B-NP +candidates NNS I-NP +may MD B-VP +be VB I-VP +discouraged VBN I-VP +from IN B-PP +running VBG B-VP +less JJR B-ADVP +by IN B-PP +the DT B-NP +congressional JJ I-NP +salary NN I-NP +than IN B-PP +by IN B-PP +the DT B-NP +prospect NN I-NP +of IN B-PP +defeat NN B-NP +at IN B-PP +the DT B-NP +hands NNS I-NP +of IN B-PP +a DT B-NP +Democratic JJ I-NP +opponent NN I-NP +. . O + +To TO B-PP +the DT B-NP +extent NN I-NP +that IN B-SBAR +potential JJ B-NP +Republican NNP I-NP +candidates NNS I-NP +and CC O +their PRP$ B-NP +financial JJ I-NP +backers NNS I-NP +realize VBP B-VP +that IN B-SBAR +the DT B-NP +congressional JJ I-NP +prisoner NN I-NP +'s POS B-NP +dilemma NN I-NP +game NN I-NP +works NNS B-VP +to TO B-PP +their PRP$ B-NP +disadvantage NN I-NP +, , O +the DT B-NP +Republican NNP I-NP +Party NNP I-NP +will MD B-VP +be VB I-VP +hindered VBN I-VP +in IN B-PP +its PRP$ B-NP +attempts NNS I-NP +to TO B-VP +field VB I-VP +a DT B-NP +competitive JJ I-NP +slate NN I-NP +of IN B-PP +congressional JJ B-NP +candidates NNS I-NP +. . O + +Fifth NNP B-ADVP +, , O +the DT B-NP +theory NN I-NP +may MD B-VP +provide VB I-VP +at IN B-ADVP +least JJS I-ADVP +a DT B-NP +partial JJ I-NP +reason NN I-NP +for IN B-PP +why WRB B-ADVP +ticket NN B-NP +splitting NN I-NP +has VBZ B-VP +been VBN I-VP +particularly RB I-VP +pronounced VBN I-VP +in IN B-PP +the DT B-NP +South NNP I-NP +. . O + +To TO B-PP +the DT B-NP +extent NN I-NP +that IN B-SBAR +Democratic JJ B-NP +legislators NNS I-NP +from IN B-PP +the DT B-NP +South NNP I-NP +have VBP B-VP +held VBN I-VP +a DT B-NP +disproportionate JJ I-NP +share NN I-NP +of IN B-PP +power NN B-NP +in IN B-PP +Congress NNP B-NP +since IN B-PP +1932 CD B-NP +and CC O +have VBP B-VP +been VBN I-VP +able JJ B-ADJP +to TO B-VP +translate VB I-VP +such JJ B-NP +clout NN I-NP +into IN B-PP +relatively RB B-NP +more RBR I-NP +local JJ I-NP +benefits NNS I-NP +for IN B-PP +their PRP$ B-NP +respective JJ I-NP +constituencies NNS I-NP +, , O +voters NNS B-NP +in IN B-PP +the DT B-NP +South NNP I-NP +have VBP B-VP +had VBN I-VP +an DT B-NP +especially RB I-NP +strong JJ I-NP +incentive NN I-NP +to TO B-VP +keep VB I-VP +such JJ B-NP +Democrats NNPS I-NP +in IN B-PP +office NN B-NP +. . O + +Finally RB B-ADVP +, , O +the DT B-NP +theory NN I-NP +suggests VBZ B-VP +why WRB B-ADVP +Republicans NNPS B-NP +generally RB B-ADVP +have VBP B-VP +fared VBN I-VP +better JJR B-ADVP +in IN B-PP +Senate NNP B-NP +races NNS I-NP +than IN B-PP +in IN B-PP +campaigns NNS B-NP +for IN B-PP +the DT B-NP +House NNP I-NP +. . O + +Since IN B-SBAR +local JJ B-NP +benefit-seeking NN I-NP +matters NNS B-VP +more JJR B-ADVP +and CC O +national JJ B-NP +policy NN I-NP +making VBG I-NP +matters NNS B-VP +less JJR B-ADVP +in IN B-PP +the DT B-NP +lower JJR I-NP +chamber NN I-NP +of IN B-PP +Congress NNP B-NP +, , O +this DT B-NP +is VBZ B-VP +precisely RB B-ADVP +the DT B-NP +pattern NN I-NP +one PRP B-NP +would MD B-VP +expect VB I-VP +if IN B-SBAR +Republicans NNPS B-NP +are VBP B-VP +less RBR B-ADJP +willing JJ I-ADJP +to TO B-VP +engage VB I-VP +in IN B-PP +local JJ B-NP +benefit-seeking NN I-NP +than IN B-PP +their PRP$ B-NP +Democratic JJ I-NP +counterparts NNS I-NP +. . O + +Is VBZ O +there EX B-NP +any DT B-NP +empirical JJ I-NP +support NN I-NP +for IN B-PP +this DT B-NP +theory NN I-NP +? . O + +Three CD B-NP +pieces NNS I-NP +of IN B-PP +evidence NN B-NP +corroborate VB B-VP +the DT B-NP +key JJ I-NP +assumption NN I-NP +that IN B-SBAR +Democratic JJ B-NP +legislators NNS I-NP +are VBP B-VP +more RBR B-ADJP +willing JJ I-ADJP +to TO B-VP +engage VB I-VP +in IN B-PP +local JJ B-NP +benefit-seeking NN I-NP +than IN B-PP +their PRP$ B-NP +Republican NNP I-NP +colleagues NNS I-NP +. . O + +First RB B-ADVP +, , O +economists NNS B-NP +James NNP I-NP +Bennett NNP I-NP +and CC I-NP +Thomas NNP I-NP +DiLorenzo NNP I-NP +find VB B-VP +that IN B-SBAR +GOP NNP B-NP +senators NNS I-NP +turn VBP B-VP +back RB B-PRT +roughly RB B-NP +10 CD I-NP +% NN I-NP +more JJR B-NP +of IN B-PP +their PRP$ B-NP +allocated VBN I-NP +personal JJ I-NP +staff NN I-NP +budgets NNS I-NP +than IN B-SBAR +Democrats NNPS B-NP +do VBP B-VP +. . O + +To TO B-PP +the DT B-NP +extent NN I-NP +that IN B-SBAR +the DT B-NP +primary JJ I-NP +duty NN I-NP +of IN B-PP +personal JJ B-NP +staff NN I-NP +involves VBZ B-VP +local JJ B-NP +benefit-seeking NN I-NP +, , O +this DT B-NP +indicates VBZ B-VP +that IN B-SBAR +political JJ B-NP +philosophy NN I-NP +leads VBZ B-VP +congressional JJ B-NP +Republicans NNPS I-NP +to TO B-VP +pay VB I-VP +less JJR B-NP +attention NN I-NP +to TO B-PP +narrow VB B-NP +constituent NN I-NP +concerns NNS I-NP +. . O + +Second JJ B-ADVP +, , O +if IN B-SBAR +the DT B-NP +key JJ I-NP +assumption NN I-NP +is VBZ B-VP +valid JJ B-ADJP +, , O +Democrats NNPS B-NP +should MD B-VP +have VB I-VP +lower JJR B-NP +attendance NN I-NP +rates NNS I-NP +on IN B-PP +roll-call JJ B-NP +votes NNS I-NP +than IN B-SBAR +Republicans NNPS B-NP +do VBP B-VP +to TO B-PP +the DT B-NP +extent NN I-NP +that IN B-SBAR +such JJ B-NP +votes NNS I-NP +reflect VBP B-VP +national JJ B-NP +policy NN I-NP +making VBG I-NP +and CC O +that IN B-SBAR +participating VBG B-VP +in IN B-PP +such JJ B-NP +votes NNS I-NP +takes VBZ B-VP +away RB B-PRT +from IN B-PP +the DT B-NP +time NN I-NP +a DT B-NP +legislator NN I-NP +could MD B-VP +otherwise RB I-VP +devote VB I-VP +to TO B-PP +local JJ B-NP +benefit-seeking NN I-NP +. . O + +This DT B-NP +is VBZ B-VP +indeed RB B-ADVP +what WP B-NP +the DT B-NP +data NNS I-NP +indicate VBP B-VP +, , O +particularly RB B-ADVP +in IN B-PP +the DT B-NP +case NN I-NP +of IN B-PP +the DT B-NP +House NNP I-NP +. . O + +The DT B-NP +Democratic NNP I-NP +House NNP I-NP +attendance NN I-NP +rate NN I-NP +has VBZ B-VP +not RB I-VP +exceeded VBN I-VP +the DT B-NP +Republican NNP I-NP +House NNP I-NP +attendance NN I-NP +rate NN I-NP +since IN B-PP +1959 CD B-NP +. . O + +Finally RB B-ADVP +, , O +as IN B-SBAR +shown VBN B-VP +in IN B-PP +the DT B-NP +table NN I-NP +, , O +Democrats NNPS B-NP +allocate VBP B-VP +a DT B-NP +higher JJR I-NP +proportion NN I-NP +of IN B-PP +their PRP$ B-NP +personal JJ I-NP +staffs NNS I-NP +to TO B-PP +district NN B-NP +offices NNS I-NP +-- : O +where WRB B-ADVP +local JJ B-NP +benefit-seeking NN I-NP +duties NNS I-NP +matter VBP B-VP +more JJR B-ADVP +and CC O +national JJ B-NP +policy NN I-NP +making VBG I-NP +activities NNS I-NP +matter VBP B-VP +less RBR B-ADVP +relative JJ B-ADVP +to TO B-PP +Washington NNP B-NP +offices NNS I-NP +. . O + +An DT B-NP +examination NN I-NP +of IN B-PP +changes NNS B-NP +in IN B-PP +personal JJ B-NP +staffing NN I-NP +decisions NNS I-NP +in IN B-PP +the DT B-NP +Senate NNP I-NP +between IN B-PP +1986 CD B-NP +and CC I-NP +1987 CD I-NP +-LRB- ( O +when WRB B-ADVP +control NN B-NP +of IN B-PP +that DT B-NP +body NN I-NP +changed VBD B-VP +party NN B-NP +hands NNS I-NP +-RRB- ) O +, , O +moreover RB B-ADVP +, , O +reveals VBZ B-VP +that IN B-SBAR +the DT B-NP +personal JJ I-NP +staffing NN I-NP +differences NNS I-NP +noted VBD B-VP +in IN B-PP +the DT B-NP +table NN I-NP +can MD B-VP +not RB I-VP +be VB I-VP +attributed VBN I-VP +to TO B-PP +the DT B-NP +disproportionate JJ I-NP +control NN I-NP +Democrats NNPS B-NP +exercise NN B-VP +, , O +due JJ B-PP +to TO I-PP +their PRP$ B-NP +majority-party JJ I-NP +status NN I-NP +, , O +over IN B-PP +other JJ B-NP +resources NNS I-NP +such JJ B-PP +as IN I-PP +committee NN B-NP +staff NN I-NP +. . O + +An DT B-NP +additional JJ I-NP +piece NN I-NP +of IN B-PP +evidence NN B-NP +from IN B-PP +the DT B-NP +Senate NNP I-NP +: : O +Holding NNP B-VP +other JJ B-NP +factors NNS I-NP +constant JJ B-ADJP +, , O +such JJ B-PP +as IN I-PP +incumbency NN B-NP +advantages NNS I-NP +and CC O +regional JJ B-NP +factors NNS I-NP +, , O +the DT B-NP +difference NN I-NP +between IN B-PP +popular JJ B-NP +votes NNS I-NP +for IN B-PP +Republican NNP B-NP +presidential JJ I-NP +and CC I-NP +senatorial JJ I-NP +candidates NNS I-NP +in IN B-PP +states NNS B-NP +conducting VBG B-VP +a DT B-NP +Senate NNP I-NP +election NN I-NP +turns VBZ B-VP +out IN B-PRT +to TO B-VP +be VB I-VP +a DT B-NP +positive JJ I-NP +function NN I-NP +of IN B-PP +how WRB B-ADJP +onerous JJ I-ADJP +the DT B-NP +federal JJ I-NP +government NN I-NP +'s POS B-NP +tax NN I-NP +burden NN I-NP +is VBZ B-VP +per IN B-PP +state NN B-NP +-LRB- ( O +a DT B-NP +progressive JJ I-NP +tax NN I-NP +rate NN I-NP +hits VBZ B-VP +higher-income JJ B-NP +states NNS I-NP +harder JJR B-ADVP +-RRB- ) O +. . O + +Put VB B-VP +more RBR B-ADVP +simply RB I-ADVP +, , O +GOP NNP B-NP +candidates NNS I-NP +for IN B-PP +president NN B-NP +are VBP B-VP +looked VBN I-VP +on IN B-PP +more RBR B-ADVP +kindly RB I-ADVP +by IN B-PP +voters NNS B-NP +than IN B-PP +Republican NNP B-NP +candidates NNS I-NP +for IN B-PP +the DT B-NP +Senate NNP I-NP +when WRB B-ADVP +the DT B-NP +prisoner NN I-NP +'s POS B-NP +dilemma NN I-NP +is VBZ B-VP +more RBR B-ADJP +severe JJ I-ADJP +. . O + +Moreover RB B-ADVP +, , O +ticket NN B-NP +splitting NN I-NP +appears VBZ B-VP +to TO I-VP +take VB I-VP +the DT B-NP +same JJ I-NP +peculiar JJ I-NP +pattern NN I-NP +at IN B-PP +the DT B-NP +state NN I-NP +government NN I-NP +level NN I-NP +as IN B-SBAR +it PRP B-NP +does VBZ B-VP +at IN B-PP +the DT B-NP +federal JJ I-NP +level NN I-NP +. . O + +State NN B-NP +government NN I-NP +is VBZ O +more RBR B-ADVP +typically RB I-ADVP +split VBP B-VP +along IN B-PP +Republican-governor\/Democratic-legislature NNP B-NP +lines NNS I-NP +than IN B-PP +the DT B-NP +reverse NN I-NP +. . O + +A DT B-NP +cross-state JJ I-NP +econometric JJ I-NP +investigation NN I-NP +, , O +furthermore RB B-ADVP +, , O +reveals VBZ B-VP +that IN B-SBAR +, , O +holding VBG B-VP +other JJ B-NP +factors NNS I-NP +constant JJ B-ADJP +, , O +the DT B-NP +difference NN I-NP +between IN B-PP +a DT B-NP +state NN I-NP +'s POS B-NP +major-party JJ I-NP +vote NN I-NP +going VBG B-VP +to TO B-PP +the DT B-NP +Republican NNP I-NP +gubernatorial JJ I-NP +candidate NN I-NP +and CC O +the DT B-NP +Republican NNP I-NP +share NN I-NP +of IN B-PP +the DT B-NP +lower JJR I-NP +state NN I-NP +house NN I-NP +is VBZ B-VP +a DT B-NP +positive JJ I-NP +function NN I-NP +of IN B-PP +the DT B-NP +state NN I-NP +tax NN I-NP +rate NN I-NP +. . O + +In IN B-PP +sum NN B-NP +, , O +at IN B-PP +both DT B-NP +the DT I-NP +federal JJ I-NP +and CC I-NP +state NN I-NP +government NN I-NP +levels NNS I-NP +at IN B-ADVP +least JJS I-ADVP +part NN B-NP +of IN B-PP +the DT B-NP +seemingly RB I-NP +irrational JJ I-NP +behavior NN I-NP +voters NNS B-NP +display VBP B-VP +in IN B-PP +the DT B-NP +voting NN I-NP +booth NN I-NP +may MD B-VP +have VB I-VP +an DT B-NP +exceedingly RB I-NP +rational JJ I-NP +explanation NN I-NP +. . O + +Mr. NNP B-NP +Zupan NNP I-NP +teaches VBZ B-VP +at IN B-PP +the DT B-NP +University NNP I-NP +of IN B-PP +Southern NNP B-NP +California NNP I-NP +'s POS B-NP +business NN I-NP +school NN I-NP +. . O + +A DT B-NP +House-Senate NNP I-NP +conference NN I-NP +approved VBD B-VP +a DT B-NP +nearly RB I-NP +$ $ I-NP +17 CD I-NP +billion CD I-NP +State NNP I-NP +, , I-NP +Justice NNP I-NP +and CC I-NP +Commerce NNP I-NP +Department NNP I-NP +bill NN I-NP +that WDT B-NP +makes VBZ B-VP +federal JJ B-NP +reparations NNS I-NP +for IN B-PP +Japanese-Americans NNPS B-NP +held VBN B-VP +in IN B-PP +World NNP B-NP +War NNP I-NP +II NNP I-NP +internment NN I-NP +camps NNS I-NP +a DT B-NP +legal JJ I-NP +entitlement NN I-NP +after IN B-PP +next JJ B-NP +Oct. NNP I-NP +1 CD I-NP +. . O + +The DT B-NP +measure NN I-NP +provides VBZ B-VP +no DT B-NP +money NN I-NP +for IN B-PP +the DT B-NP +promised VBN I-NP +payments NNS I-NP +until IN B-PP +then RB B-NP +, , O +but CC O +beginning VBG B-PP +in IN B-PP +fiscal JJ B-NP +1991 CD I-NP +, , O +the DT B-NP +government NN I-NP +would MD B-VP +be VB I-VP +committed VBN B-ADJP +to TO B-PP +meeting VBG B-VP +annual JJ B-NP +payments NNS I-NP +of IN B-PP +as RB B-NP +much JJ I-NP +as IN I-NP +$ $ I-NP +500 CD I-NP +million CD I-NP +until IN B-SBAR +the DT B-NP +total JJ I-NP +liability NN I-NP +of IN B-PP +approximately RB B-NP +$ $ I-NP +1.25 CD I-NP +billion CD I-NP +is VBZ B-VP +paid VBN I-VP +. . O + +The DT B-NP +action NN I-NP +abandons VBZ B-VP +earlier JJR B-NP +efforts NNS I-NP +to TO B-VP +find VB I-VP +offsetting VBG B-NP +cuts NNS I-NP +to TO B-VP +fund VB I-VP +the DT B-NP +payments NNS I-NP +, , O +but CC O +is VBZ B-VP +widely RB I-VP +seen VBN I-VP +as IN B-PP +a DT B-NP +more RBR I-NP +realistic JJ I-NP +means NNS I-NP +of IN B-PP +expediting VBG B-VP +reparations NNS B-NP +first RB B-VP +authorized VBN I-VP +in IN B-PP +1988 CD B-NP +. . O + +The DT B-NP +action NN I-NP +came VBD B-VP +as IN B-SBAR +Congress NNP B-NP +sent VBD B-VP +to TO B-PP +President NNP B-NP +Bush NNP I-NP +a DT B-NP +fiscal JJ I-NP +1990 CD I-NP +bill NN I-NP +providing VBG B-VP +an DT B-NP +estimated VBN I-NP +$ $ I-NP +156.7 CD I-NP +billion CD I-NP +for IN B-PP +the DT B-NP +Departments NNPS I-NP +of IN B-PP +Labor NNP B-NP +, , O +Education NNP B-NP +, , O +Health NNP B-NP +and CC O +Human NNP B-NP +Services NNP I-NP +. . O + +Final JJ B-NP +approval NN I-NP +was VBD B-VP +on IN B-PP +a DT B-NP +67-31 JJ I-NP +roll NN I-NP +call NN I-NP +in IN B-PP +the DT B-NP +Senate NNP I-NP +, , O +which WDT B-NP +sets VBZ B-VP +the DT B-NP +stage NN I-NP +for IN B-PP +a DT B-NP +veto NN I-NP +confrontation NN I-NP +with IN B-PP +Mr. NNP B-NP +Bush NNP I-NP +over IN B-PP +the DT B-NP +issue NN I-NP +of IN B-PP +publicly RB B-NP +financed VBN I-NP +abortions NNS I-NP +for IN B-PP +poor JJ B-NP +women NNS I-NP +. . O + +Reversing VBG B-VP +an DT B-NP +eight-year JJ I-NP +federal JJ I-NP +policy NN I-NP +, , O +the DT B-NP +measure NN I-NP +supports VBZ B-VP +Medicaid NNP B-NP +abortions NNS I-NP +in IN B-PP +cases NNS B-NP +of IN B-PP +rape NN B-NP +and CC I-NP +incest NN I-NP +, , O +but CC O +Mr. NNP B-NP +Bush NNP I-NP +has VBZ B-VP +so RB I-VP +far RB I-VP +refused VBN I-VP +to TO I-VP +support VB I-VP +any DT B-NP +specific JJ I-NP +exemption NN I-NP +beyond IN B-PP +instances NNS B-NP +in IN B-PP +which WDT B-NP +the DT B-NP +mother NN I-NP +'s POS B-NP +life NN I-NP +is VBZ B-VP +in IN B-PP +danger NN B-NP +. . O + +Mr. NNP B-NP +Bush NNP I-NP +'s POS B-NP +veto NN I-NP +power NN I-NP +puts VBZ B-VP +him PRP B-NP +a DT B-NP +commanding VBG I-NP +position NN I-NP +in IN B-PP +the DT B-NP +narrowly RB I-NP +divided VBN I-NP +House NNP I-NP +, , O +but CC O +a DT B-NP +vote NN I-NP +to TO B-VP +override VB I-VP +his PRP$ B-NP +position NN I-NP +could MD B-VP +well RB I-VP +pick VB I-VP +up IN B-PRT +new JJ B-NP +support NN I-NP +because IN B-PP +of IN I-PP +the DT B-NP +wealth NN I-NP +of IN B-PP +health NN B-NP +and CC I-NP +education NN I-NP +programs NNS I-NP +financed VBN B-VP +in IN B-PP +the DT B-NP +underlying VBG I-NP +bill NN I-NP +. . O + +The DT B-NP +measure NN I-NP +before IN B-PP +the DT B-NP +conference NN I-NP +yesterday NN B-NP +funds VBZ B-VP +the DT B-NP +Departments NNPS I-NP +of IN B-PP +State NNP B-NP +, , I-NP +Justice NNP I-NP +and CC I-NP +Commerce NNP I-NP +through IN B-PP +fiscal JJ B-NP +1990 CD I-NP +. . O + +An DT B-NP +estimated VBN I-NP +$ $ I-NP +1.32 CD I-NP +billion CD I-NP +is VBZ B-VP +provided VBN I-VP +for IN B-PP +next JJ B-NP +year NN I-NP +'s POS B-NP +census NN I-NP +, , O +and CC O +negotiators NNS B-NP +stripped VBD B-VP +a DT B-NP +Senate-passed JJ I-NP +rider NN I-NP +seeking VBG B-VP +to TO I-VP +block VB I-VP +the DT B-NP +counting NN I-NP +of IN B-PP +illegal JJ B-NP +aliens NNS I-NP +. . O + +Elsewhere RB B-ADVP +in IN B-PP +the DT B-NP +Commerce NNP I-NP +Department NNP I-NP +, , O +nearly RB B-NP +$ $ I-NP +191.2 CD I-NP +million CD I-NP +is VBZ B-VP +preserved VBN I-VP +for IN B-PP +assistance NN B-NP +programs NNS I-NP +under IN B-PP +the DT B-NP +Economic NNP I-NP +Development NNP I-NP +Administration NNP I-NP +. . O + +And CC O +in IN B-PP +a DT B-NP +footnote NN I-NP +to TO B-PP +the DT B-NP +fall NN I-NP +of IN B-PP +House NNP B-NP +Speaker NNP I-NP +James NNP I-NP +Wright NNP I-NP +this DT B-NP +year NN I-NP +, , O +the DT B-NP +conference NN I-NP +voted VBD B-VP +to TO I-VP +rescind VB I-VP +$ $ B-NP +11.8 CD I-NP +million CD I-NP +in IN B-PP +unspent JJ B-NP +EDA NNP I-NP +funds NNS I-NP +for IN B-PP +a DT B-NP +Fort NNP I-NP +Worth NNP I-NP +, , I-NP +Texas NNP I-NP +, , I-NP +stockyards NNS I-NP +project VBP I-NP +that WDT B-NP +figured VBD B-VP +in IN B-PP +ethics NNS B-NP +charges NNS I-NP +against IN B-PP +the DT B-NP +former JJ I-NP +Democratic JJ I-NP +leader NN I-NP +. . O + +Fiscal JJ B-NP +pressures NNS I-NP +also RB B-ADVP +forced VBN B-VP +the DT B-NP +adoption NN I-NP +of IN B-PP +new JJ B-NP +fees NNS I-NP +charged VBN B-VP +by IN B-PP +federal JJ B-NP +agencies NNS I-NP +, , O +and CC O +an DT B-NP +18 CD I-NP +% NN I-NP +increase NN I-NP +in IN B-PP +the DT B-NP +Securities NNP I-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +'s POS B-NP +budget NN I-NP +would MD B-VP +be VB I-VP +financed VBN I-VP +entirely RB B-ADVP +by IN B-PP +an DT B-NP +added VBD I-NP +$ $ I-NP +26 CD I-NP +million CD I-NP +in IN B-PP +filing NN B-NP +fees NNS I-NP +. . O + +In IN B-PP +an DT B-NP +unprecedented JJ I-NP +step NN I-NP +, , O +the DT B-NP +measure NN I-NP +anticipates VBZ B-VP +another DT B-NP +$ $ I-NP +30 CD I-NP +million CD I-NP +in IN B-PP +receipts NNS B-NP +by IN B-PP +having VBG B-VP +the DT B-NP +Federal NNP I-NP +Bureau NNP I-NP +of IN B-PP +Investigation NNP B-NP +charge NN B-VP +for IN B-PP +fingerprint NN B-NP +services NNS I-NP +in IN B-PP +civil JJ B-NP +cases NNS I-NP +-- : O +a DT B-NP +change NN I-NP +that WDT B-NP +is VBZ B-VP +almost RB B-ADJP +certain JJ I-ADJP +to TO B-VP +increase VB I-VP +Pentagon NNP B-NP +costs NNS I-NP +in IN B-PP +processing NN B-VP +personnel NNS B-NP +and CC I-NP +security NN I-NP +clearances NNS I-NP +. . O + +The DT B-NP +bill NN I-NP +does VBZ B-VP +n't RB I-VP +include VB I-VP +an DT B-NP +estimated VBN I-NP +$ $ I-NP +1.9 CD I-NP +billion CD I-NP +in IN B-PP +supplemental JJ B-NP +anti-drug JJ I-NP +funds NNS I-NP +for IN B-PP +Justice NNP B-NP +Department NNP I-NP +and CC I-NP +law-enforcement NN I-NP +accounts NNS I-NP +that WDT B-NP +are VBP B-VP +still RB B-ADVP +in IN B-PP +conference NN B-NP +with IN B-PP +the DT B-NP +House NNP I-NP +. . O + +But CC O +yesterday NN B-NP +'s POS B-NP +agreement NN I-NP +would MD B-VP +make VB I-VP +it PRP B-NP +easier JJR B-ADJP +for IN B-SBAR +state NN B-NP +governments NNS I-NP +to TO B-VP +handle VB I-VP +the DT B-NP +promised VBN I-NP +aid NN I-NP +by IN B-PP +deferring VBG B-VP +for IN B-PP +one CD B-NP +year NN I-NP +a DT B-NP +scheduled VBN I-NP +50 CD I-NP +% NN I-NP +increase NN I-NP +in IN B-PP +the DT B-NP +required VBN I-NP +state NN I-NP +matching VBG I-NP +funds NNS I-NP +for IN B-PP +law-enforcement NN B-NP +grants NNS I-NP +. . O + +Similarly RB B-ADVP +, , O +the DT B-NP +measure NN I-NP +adjusts VBZ B-VP +the DT B-NP +current JJ I-NP +funding NN I-NP +formula NN I-NP +to TO B-VP +promise VB I-VP +smaller JJR B-NP +states NNS I-NP +such JJ B-PP +as IN I-PP +New NNP B-NP +Hampshire NNP I-NP +and CC O +Delaware NNP B-NP +a DT B-NP +minimum JJ I-NP +allocation NN I-NP +of IN B-PP +$ $ B-NP +1.6 CD I-NP +million CD I-NP +each DT B-NP +in NN B-PP +drug NN B-NP +grants NNS I-NP +, , O +or CC O +three CD B-NP +times VBZ I-NP +the DT I-NP +current JJ I-NP +minimum NN I-NP +. . O + +The DT B-NP +odd JJ I-NP +mix NN I-NP +of IN B-PP +departments NNS B-NP +in IN B-PP +the DT B-NP +bill NN I-NP +makes VBZ B-VP +it PRP B-NP +one CD B-NP +of IN B-PP +the DT B-NP +more JJR I-NP +eclectic NN I-NP +of IN B-PP +the DT B-NP +annual JJ I-NP +appropriations NNS I-NP +measures NNS I-NP +, , O +and CC O +the DT B-NP +assorted JJ I-NP +provisions NNS I-NP +attached VBN B-VP +by IN B-PP +lawmakers NNS B-NP +run VBP B-VP +from IN B-PP +$ $ B-NP +1.5 CD I-NP +million CD I-NP +for IN B-PP +a DT B-NP +fish NN I-NP +farm NN I-NP +in IN B-PP +Arkansas NNP B-NP +to TO B-PP +a DT B-NP +music NN I-NP +festival NN I-NP +in IN B-PP +Moscow NNP B-NP +under IN B-PP +the DT B-NP +United NNP I-NP +States NNP I-NP +Information NNP I-NP +Agency NNP I-NP +. . O + +Lawmakers NNS B-NP +scrapped VBD B-VP +all DT B-NP +of IN B-PP +a DT B-NP +$ $ I-NP +7.4 CD I-NP +million CD I-NP +State NNP I-NP +Department NNP I-NP +request NN I-NP +for IN B-PP +the DT B-NP +1992 CD I-NP +Expo NNP I-NP +in IN B-PP +Seville NNP B-NP +, , O +Spain NNP B-NP +, , O +but CC O +agreed VBD B-VP +elsewhere RB B-ADVP +to TO B-PP +$ $ B-NP +15,000 CD I-NP +for IN B-PP +an DT B-NP +oil NN I-NP +portrait NN I-NP +of IN B-PP +former JJ B-NP +Chief NNP I-NP +Justice NNP I-NP +Warren NNP I-NP +Burger NNP I-NP +. . O + +Senate NNP B-NP +Commerce NNP I-NP +Committee NNP I-NP +Chairman NNP I-NP +Ernest NNP I-NP +Hollings NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +S.C. NNP B-NP +-RRB- ) O +, , O +who WP B-NP +also RB B-ADVP +chairs VBZ B-VP +the DT B-NP +Senate NNP I-NP +appropriations NNS I-NP +subcommittee NN I-NP +for IN B-PP +the DT B-NP +department NN I-NP +, , O +attached VBD B-VP +$ $ B-NP +10 CD I-NP +million CD I-NP +for IN B-PP +an DT B-NP +advanced VBN I-NP +technology NN I-NP +initiative NN I-NP +, , O +including VBG B-PP +work NN B-NP +on IN B-PP +high-definition JJ B-NP +television NN I-NP +. . O + +His PRP$ B-NP +Republican NNP I-NP +counterpart NN I-NP +, , O +Sen. NNP B-NP +Warren NNP I-NP +Rudman NNP I-NP +-LRB- ( O +R. NNP B-NP +, , O +N.H. NNP B-NP +-RRB- ) O +, , O +has VBZ B-VP +used VBN I-VP +his PRP$ B-NP +position NN I-NP +to TO B-VP +wage VB I-VP +a DT B-NP +legislative JJ I-NP +war NN I-NP +with IN B-PP +the DT B-NP +conservative JJ I-NP +board NN I-NP +of IN B-PP +the DT B-NP +Legal NNP I-NP +Services NNP I-NP +Corp NNP I-NP +. . O + +An DT B-NP +estimated VBN I-NP +$ $ I-NP +321 CD I-NP +million CD I-NP +is VBZ B-VP +provided VBN I-VP +to TO B-VP +maintain VB I-VP +the DT B-NP +program NN I-NP +, , O +but CC O +Mr. NNP B-NP +Rudman NNP I-NP +also RB B-ADVP +succeeded VBD B-VP +in IN B-PP +attaching VBG B-VP +language NN B-NP +seeking VBG B-VP +to TO I-VP +curb VB I-VP +the DT B-NP +authority NN I-NP +of IN B-PP +the DT B-NP +current JJ I-NP +board NN I-NP +until IN B-SBAR +new JJ B-NP +members NNS I-NP +are VBP B-VP +confirmed VBN I-VP +. . O + +The DT B-NP +effective JJ I-NP +date NN I-NP +of IN B-PP +any DT B-NP +new JJ I-NP +regulations NNS I-NP +by IN B-PP +the DT B-NP +current JJ I-NP +board NN I-NP +would MD B-VP +be VB I-VP +delayed VBN I-VP +until IN B-PP +Oct. NNP B-NP +1 CD I-NP +next JJ B-NP +year NN I-NP +, , O +and CC O +the DT B-NP +bill NN I-NP +seeks VBZ B-VP +to TO I-VP +reverse VB I-VP +efforts NNS B-NP +by IN B-PP +the DT B-NP +corporation NN I-NP +to TO B-VP +cut VB I-VP +off IN B-PRT +funds NNS B-NP +to TO B-PP +service VB B-NP +organizations NNS I-NP +such JJ B-PP +as IN I-PP +the DT B-NP +Food NNP I-NP +Research NNP I-NP +and CC I-NP +Action NNP I-NP +Center NNP I-NP +. . O + +The DT B-NP +bill NN I-NP +also RB B-ADVP +provides VBZ B-VP +$ $ B-NP +620.5 CD I-NP +million CD I-NP +to TO B-VP +meet VB I-VP +U.S. NNP B-NP +contributions NNS I-NP +to TO B-PP +international JJ B-NP +organizations NNS I-NP +and CC O +$ $ B-NP +80 CD I-NP +million CD I-NP +for IN B-PP +peace-keeping NN B-NP +activities NNS I-NP +. . O + +Both DT B-NP +accounts NNS I-NP +reflect VBP B-VP +significant JJ B-NP +increases NNS I-NP +from IN B-PP +fiscal JJ B-NP +1989 CD I-NP +, , O +although IN B-SBAR +the DT B-NP +amount NN I-NP +for IN B-PP +peace-keeping NN B-NP +shows VBZ B-VP +a DT B-NP +27 CD I-NP +% NN I-NP +cut NN I-NP +from IN B-PP +the DT B-NP +administration NN I-NP +'s POS B-NP +request NN I-NP +. . O + +Mercury NNP B-NP +Savings NNP I-NP +& CC I-NP +Loan NNP I-NP +Association NNP I-NP +said VBD B-VP +it PRP B-NP +retained VBD B-VP +Merrill NNP B-NP +Lynch NNP I-NP +Capital NNP I-NP +Markets NNPS I-NP +as IN B-PP +its PRP$ B-NP +lead NN I-NP +investment NN I-NP +banker NN I-NP +to TO B-VP +advise VB I-VP +it PRP B-NP +regarding VBG B-PP +a DT B-NP +possible JJ I-NP +sale NN I-NP +or CC I-NP +other JJ I-NP +combination NN I-NP +of IN B-PP +the DT B-NP +Huntington NNP I-NP +Beach NNP I-NP +, , I-NP +Calif. NNP I-NP +, , I-NP +thrift NN I-NP +. . O + +Mercury NNP B-NP +, , O +which WDT B-NP +has VBZ B-VP +assets NNS B-NP +of IN B-PP +more JJR B-NP +than IN I-NP +$ $ I-NP +2 CD I-NP +billion CD I-NP +and CC O +24 CD B-NP +branches NNS I-NP +in IN B-PP +California NNP B-NP +, , O +said VBD B-VP +the DT B-NP +action NN I-NP +to TO B-VP +improve VB I-VP +its PRP$ B-NP +regulatory JJ I-NP +capital NN I-NP +position NN I-NP +is VBZ B-VP +related VBN I-VP +directly RB B-ADVP +to TO B-PP +new JJ B-NP +capital NN I-NP +requirements NNS I-NP +mandated VBN B-VP +by IN B-PP +recently RB B-NP +adopted VBN I-NP +federal JJ I-NP +legislation NN I-NP +. . O + +Mercury NNP B-NP +also RB B-ADVP +said VBD B-VP +it PRP B-NP +extended VBD B-VP +its PRP$ B-NP +two-year JJ I-NP +advisory JJ I-NP +relationship NN I-NP +with IN B-PP +Montgomery NNP B-NP +Securities NNP I-NP +of IN B-PP +San NNP B-NP +Francisco NNP I-NP +. . O + +Mercury NNP B-NP +'s POS B-NP +stock NN I-NP +closed VBD B-VP +yesterday NN B-NP +at IN B-PP +$ $ B-NP +4.875 CD I-NP +, , O +unchanged JJ B-ADJP +in IN B-PP +composite JJ B-NP +trading NN I-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +. . O + +Watching VBG B-VP +Congress NNP B-NP +sweat NN B-VP +and CC I-VP +grimace NN I-VP +through IN B-PP +its PRP$ B-NP +annual JJ I-NP +budget NN I-NP +labors NNS I-NP +, , O +fighting VBG B-VP +the DT B-NP +urge NN I-NP +to TO B-VP +spend VB I-VP +more JJR B-NP +, , O +we PRP B-NP +'re VBP B-VP +reminded VBD I-VP +of IN B-PP +those DT B-NP +late-night JJ I-NP +movies NNS I-NP +in IN B-PP +which WDT B-NP +the DT B-NP +anguished JJ I-NP +serial JJ I-NP +killer NN I-NP +turns VBZ B-VP +himself PRP B-NP +in IN B-PRT +to TO B-PP +police VB B-NP +and CC O +says VBZ B-VP +, , O +`` `` O +Stop VB B-VP +me PRP B-NP +before IN B-SBAR +I PRP B-NP +kill VBP B-VP +again RB B-ADVP +. . O +'' '' O + +The DT B-NP +Members NNS I-NP +know VBP B-VP +they PRP B-NP +'re VBP B-VP +doing VBG I-VP +wrong JJ B-NP +, , O +but CC O +they PRP B-NP +need VBP B-VP +help NN B-NP +to TO B-VP +restrain VB I-VP +their PRP$ B-NP +darker JJR I-NP +compulsions NNS I-NP +. . O + +Arkansas NNP B-NP +Democrat NNP I-NP +David NNP I-NP +Pryor NNP I-NP +spilled VBD B-VP +his PRP$ B-NP +guts NNS I-NP +on IN B-PP +the DT B-NP +Senate NNP I-NP +floor NN I-NP +the DT B-NP +other JJ I-NP +day NN I-NP +after IN B-SBAR +he PRP B-NP +'d MD B-VP +joined VBD I-VP +the DT B-NP +Finance NNP I-NP +Committee NNP I-NP +'s POS B-NP +early-morning JJ I-NP +pork-barrel JJ I-NP +revels NNS I-NP +: : O +`` `` O +I PRP B-NP +must MD B-VP +tell VB I-VP +you PRP B-NP +... : O + +I PRP B-NP +come VBP B-VP +to TO B-PP +the DT B-NP +floor NN I-NP +tonight RB B-NP +as IN B-PP +one CD B-NP +who WP B-NP +ended VBD B-VP +up IN B-PRT +with IN B-PP +a DT B-NP +busload NN I-NP +of IN B-PP +extraneous JJ B-NP +matter NN I-NP +. . O + +It PRP B-NP +was VBD B-VP +nothing NN B-NP +more JJR B-ADJP +or CC O +nothing NN B-NP +less JJR B-ADJP +than IN B-PP +a DT B-NP +feeding VBG I-NP +frenzy NN I-NP +. . O +'' '' O + +He PRP B-NP +was VBD B-VP +turning VBG I-VP +himself PRP B-NP +in RB B-PRT +. . O + +`` `` O +Frankly RB B-ADVP +, , O +as IN B-SBAR +I PRP B-NP +was VBD B-VP +walking VBG I-VP +back RB B-ADVP +to TO B-VP +get VB I-VP +in IN B-PP +my PRP$ B-NP +car NN I-NP +, , O +I PRP B-NP +heard VBD B-VP +many JJ B-NP +, , I-NP +many JJ I-NP +people NNS I-NP +... : O +opening NN B-VP +champagne NN B-NP +bottles NNS I-NP +and CC O +celebrating VBG B-VP +individual JJ B-NP +victories NNS I-NP +that IN B-NP +some DT B-NP +of IN B-PP +us PRP B-NP +had VBD B-VP +accomplished VBN I-VP +in IN B-PP +getting VBG B-VP +our PRP$ B-NP +little JJ I-NP +deal NN I-NP +in IN B-PP +the DT B-NP +tax NN I-NP +bill NN I-NP +and CC O +winking VBG B-VP +at IN B-PP +this DT B-NP +person NN I-NP +for IN B-PP +slipping VBG B-VP +this DT B-NP +in NN B-PRT +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +`` `` O +As IN B-SBAR +I PRP B-NP +was VBD B-VP +driving VBG I-VP +home NN B-ADVP +, , O +I PRP B-NP +did VBD B-VP +not RB I-VP +feel VB I-VP +very RB B-ADJP +good JJ I-ADJP +about IN B-PP +myself PRP B-NP +. . O +'' '' O + +We PRP B-NP +can MD B-VP +applaud VB I-VP +Mr. NNP B-NP +Pryor NNP I-NP +'s POS B-NP +moment NN I-NP +of IN B-PP +epiphany NN B-NP +, , O +even RB B-SBAR +as IN I-SBAR +we PRP B-NP +understand VBP B-VP +that IN B-SBAR +he PRP B-NP +and CC O +his PRP$ B-NP +confreres FW I-NP +need NN B-VP +restraint NN B-NP +lest IN B-SBAR +they PRP B-NP +kill VBP B-VP +again RB B-ADVP +. . O + +A DT B-NP +good JJ I-NP +place NN I-NP +to TO B-VP +start VB I-VP +the DT B-NP +rehabilitation NN I-NP +is VBZ B-VP +a DT B-NP +`` `` I-NP +legislative JJ I-NP +line-item JJ I-NP +veto NN I-NP +'' '' I-NP +bill NN I-NP +now RB B-VP +being VBG I-VP +offered VBN I-VP +by IN B-PP +Indiana NNP B-NP +Senator NNP I-NP +Dan NNP I-NP +Coats NNP I-NP +. . O + +The DT B-NP +Coats NNP I-NP +bill NN I-NP +, , O +which WDT B-NP +already RB B-ADVP +has VBZ B-VP +32 CD B-NP +Senate NNP I-NP +co-sponsors NNS I-NP +, , O +is VBZ B-VP +n't RB O +a DT B-NP +pure JJ I-NP +line-item JJ I-NP +veto NN I-NP +because IN B-SBAR +it PRP B-NP +would MD B-VP +apply VB I-VP +only RB B-ADVP +to TO B-PP +spending NN B-NP +bills NNS I-NP +. . O + +Instead RB B-ADVP +it PRP B-NP +'s VBZ B-VP +a DT B-NP +form NN I-NP +of IN B-PP +`` `` O +enhanced VBN B-NP +rescission NN I-NP +, , O +'' '' O +giving VBG B-VP +a DT B-NP +President NNP I-NP +a DT B-NP +chance NN I-NP +to TO B-VP +rescind VB I-VP +, , I-VP +or CC I-VP +strike NN I-VP +, , O +specific JJ B-NP +spending NN I-NP +items NNS I-NP +that WDT B-NP +just RB B-ADVP +go VB B-VP +too RB B-ADVP +far RB I-ADVP +. . O + +Under IN B-PP +the DT B-NP +proposal NN I-NP +, , O +a DT B-NP +President NNP I-NP +would MD B-VP +have VB I-VP +a DT B-NP +chance NN I-NP +twice RB B-ADVP +each DT B-NP +year NN I-NP +to TO B-VP +return VB I-VP +a DT B-NP +package NN I-NP +of IN B-PP +`` `` O +rescissions NNS B-NP +'' '' O +to TO B-PP +the DT B-NP +Hill NNP I-NP +-- : O +once RB B-ADVP +when WRB B-ADVP +he PRP B-NP +proposes VBZ B-VP +his PRP$ B-NP +budget NN I-NP +and CC O +again RB B-ADVP +after IN B-SBAR +Congress NNP B-NP +disposes VBZ B-VP +. . O + +Congress NNP B-NP +would MD B-VP +have VB I-VP +20 CD B-NP +days NNS I-NP +to TO B-VP +reject VB I-VP +the DT B-NP +package NN I-NP +with IN B-PP +a DT B-NP +50 CD I-NP +% NN I-NP +majority NN I-NP +, , O +but CC O +then RB B-ADVP +a DT B-NP +President NNP I-NP +could MD B-VP +veto VB I-VP +that DT B-NP +rejection NN I-NP +. . O + +Congress NNP B-NP +would MD B-VP +then RB I-VP +need VB I-VP +the DT B-NP +usual JJ I-NP +two-thirds NNS I-NP +majority NN I-NP +to TO B-VP +override VB I-VP +any DT B-NP +veto NN I-NP +. . O + +The DT B-NP +proposal NN I-NP +would MD B-VP +restore VB I-VP +some DT B-NP +discipline NN I-NP +erased VBN B-VP +from IN B-PP +the DT B-NP +budget NN I-NP +process NN I-NP +by IN B-PP +the DT B-NP +1974 CD I-NP +Budget NNP I-NP +`` `` I-NP +Reform NNP I-NP +'' '' I-NP +Act NNP I-NP +. . O + +Before IN B-PP +1974 CD B-NP +, , O +a DT B-NP +President NNP I-NP +could MD B-VP +`` `` O +impound VB B-VP +, , O +'' '' O +or CC O +refuse VB B-VP +to TO I-VP +spend VB I-VP +, , O +funds NNS B-NP +appropriated VBN B-VP +by IN B-PP +Congress NNP B-NP +. . O + +Presidents NNP B-NP +Kennedy NNP I-NP +and CC I-NP +Johnson NNP I-NP +were VBD B-VP +both DT O +big JJ B-NP +users NNS I-NP +of IN B-PP +the DT B-NP +impoundment NN I-NP +power NN I-NP +, , O +but CC O +Congress NNP B-NP +saw VBD B-VP +its PRP$ B-NP +chance NN I-NP +against IN B-PP +a DT B-NP +weakened VBN I-NP +President NNP I-NP +Nixon NNP I-NP +and CC O +stripped VBN B-VP +it PRP B-NP +away RB B-PRT +. . O + +Today NN B-NP +a DT B-NP +President NNP I-NP +can MD B-VP +still RB I-VP +send VB I-VP +up IN B-PRT +spending NN B-NP +rescissions NNS I-NP +, , O +but CC O +they PRP B-NP +'re VBP B-VP +meaningless JJ B-ADJP +unless IN B-SBAR +Congress NNP B-NP +has VBZ B-VP +a DT B-NP +guilty JJ I-NP +conscience NN I-NP +and CC O +changes NNS B-VP +its PRP$ B-NP +mind NN I-NP +. . O + +This DT B-NP +is VBZ B-VP +like IN B-PP +asking VBG B-VP +foxes NNS B-NP +to TO B-VP +feel VB I-VP +remorse NN B-NP +about IN B-PP +chickens NNS B-NP +, , O +and CC O +naturally RB B-ADVP +rescissions NNS B-NP +are VBP B-VP +almost RB I-VP +never RB I-VP +approved VBD I-VP +. . O + +In IN B-PP +1987 CD B-NP +, , O +President NNP B-NP +Reagan NNP I-NP +sent VBD B-VP +73 CD B-NP +rescissions NNS I-NP +back RB B-ADVP +to TO B-PP +the DT B-NP +Hill NNP I-NP +, , O +but CC O +only RB B-NP +3 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +spending NN I-NP +total NN I-NP +was VBD B-VP +approved VBN I-VP +by IN B-PP +Congress NNP B-NP +. . O + +Senator NNP B-NP +Coats NNP I-NP +'s POS B-NP +proposal NN I-NP +would MD B-VP +let VB I-VP +the DT B-NP +proposed VBN I-NP +spending NN I-NP +cuts NNS I-NP +take VBP B-VP +place NN B-NP +automatically RB B-ADVP +unless IN B-SBAR +Congress NNP B-NP +acts NNS B-VP +. . O + +The DT B-NP +Members NNS I-NP +could MD B-VP +still RB I-VP +try VB I-VP +to TO I-VP +serve VB I-VP +their PRP$ B-NP +constituents NNS I-NP +with IN B-PP +special-interest JJ B-NP +goodies NNS I-NP +, , O +but CC O +the DT B-NP +police NN I-NP +-LRB- ( O +in IN B-PP +the DT B-NP +form NN I-NP +of IN B-PP +a DT B-NP +President NNP I-NP +-RRB- ) O +would MD B-VP +be VB I-VP +there RB B-ADVP +with IN B-PP +a DT B-NP +straitjacket NN I-NP +if IN B-SBAR +they PRP B-NP +really RB B-ADVP +get VBP B-VP +crazy JJ B-ADJP +, , O +as IN B-SBAR +they PRP B-NP +do VBP B-VP +now RB B-ADVP +. . O + +Mr. NNP B-NP +Coats NNP I-NP +plans VBZ B-VP +to TO I-VP +offer VB I-VP +his PRP$ B-NP +proposal NN I-NP +as IN B-PP +an DT B-NP +amendment NN I-NP +to TO B-PP +a DT B-NP +bill NN I-NP +to TO B-VP +raise VB I-VP +the DT B-NP +federal JJ I-NP +debt NN I-NP +limit NN I-NP +before IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +month NN I-NP +. . O + +President NNP B-NP +Bush NNP I-NP +has VBZ B-VP +endorsed VBN I-VP +the DT B-NP +idea NN I-NP +, , O +and CC O +at IN B-NP +least JJS I-NP +50 CD I-NP +sitting VBG I-NP +Senators NNS I-NP +have VBP B-VP +voted VBN I-VP +to TO I-VP +support VB I-VP +enhanced VBN B-NP +rescission NN I-NP +authority NN I-NP +in IN B-PP +the DT B-NP +past NN I-NP +. . O + +We PRP B-NP +'re VBP B-VP +told VBD I-VP +Senator NNP B-NP +Pryor NNP I-NP +is VBZ B-VP +n't RB O +yet RB B-ADVP +a DT B-NP +co-sponsor NN I-NP +, , O +but CC O +if IN B-SBAR +he PRP B-NP +and CC O +his PRP$ B-NP +colleagues NNS I-NP +are VBP B-VP +serious JJ B-ADJP +about IN B-PP +kicking VBG B-VP +their PRP$ B-NP +compulsions NNS I-NP +, , O +they PRP B-NP +'ll MD B-VP +sign VB I-VP +up RB B-PRT +. . O + +Business NN B-NP +and CC I-NP +civic JJ I-NP +operations NNS I-NP +lurched VBD B-VP +back RB B-ADVP +toward IN B-PP +normalcy NN B-NP +here RB B-ADVP +as IN B-SBAR +congressional JJ B-NP +officials NNS I-NP +estimated VBN B-VP +that IN B-SBAR +the DT B-NP +price NN I-NP +tag NN I-NP +for IN B-PP +emergency NN B-NP +assistance NN I-NP +to TO B-PP +earthquake-ravaged JJ B-NP +California NNP I-NP +would MD B-VP +total VB I-VP +at IN B-NP +least JJS I-NP +$ $ I-NP +2.5 CD I-NP +billion CD I-NP +. . O + +`` `` O +That DT B-NP +is VBZ B-VP +a DT B-NP +minimum JJ I-NP +figure NN I-NP +, , O +and CC O +I PRP B-NP +underscore VBP B-VP +minimum JJ B-NP +, , O +'' '' O +said VBD B-VP +House NNP B-NP +Speaker NNP I-NP +Thomas NNP I-NP +Foley NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Wash NNP B-NP +. . O +-RRB- ) O +after IN B-PP +conferring VBG B-VP +with IN B-PP +California NNP B-NP +lawmakers NNS I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +impossible JJ B-ADJP +to TO B-VP +put VB I-VP +an DT B-NP +exact JJ I-NP +figure NN I-NP +on IN B-PP +it PRP B-NP +at IN B-PP +this DT B-NP +time NN I-NP +. . O +'' '' O + +The DT B-NP +Office NNP I-NP +of IN B-PP +Management NNP B-NP +and CC I-NP +Budget NNP I-NP +has VBZ B-VP +begun VBN I-VP +looking VBG I-VP +into IN B-PP +legislation NN B-NP +to TO B-VP +provide VB I-VP +more JJR B-NP +funds NNS I-NP +for IN B-PP +earthquake NN B-NP +repairs NNS I-NP +. . O + +And CC O +California NNP B-NP +'s POS B-NP +45-member JJ I-NP +delegation NN I-NP +in IN B-PP +the DT B-NP +House NNP I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +propose VB I-VP +that IN B-SBAR +emergency NN B-NP +funds NNS I-NP +be VBP B-VP +added VBN I-VP +to TO B-PP +a DT B-NP +stop-gap JJ I-NP +spending NN I-NP +bill NN I-NP +that IN B-NP +the DT B-NP +House NNP I-NP +Appropriations NNP I-NP +Committee NNP I-NP +is VBZ B-VP +to TO I-VP +consider VB I-VP +Monday NNP B-NP +. . O + +For IN B-PP +the DT B-NP +most RBS I-NP +part NN I-NP +, , O +major JJ B-NP +corporations NNS I-NP +' POS B-NP +headquarters NN I-NP +and CC I-NP +plants NNS I-NP +were VBD B-VP +unaffected JJ B-ADJP +or CC O +only RB B-ADJP +slightly RB I-ADJP +damaged VBN I-ADJP +by IN B-PP +Tuesday NNP B-NP +'s POS B-NP +earthquake NN I-NP +, , O +which WDT B-NP +registered VBD B-VP +6.9 CD B-NP +on IN B-PP +the DT B-NP +Richter NNP I-NP +scale NN I-NP +. . O + +One CD B-NP +of IN B-PP +the DT B-NP +last JJ I-NP +big JJ I-NP +employers NNS I-NP +in IN B-PP +the DT B-NP +Silicon NNP I-NP +Valley NNP I-NP +to TO B-VP +report VB I-VP +in IN B-PRT +, , O +Seagate NNP B-NP +Technology NNP I-NP +, , O +said VBD B-VP +it PRP B-NP +expects VBZ B-VP +to TO I-VP +be VB I-VP +back RB B-ADVP +at IN B-PP +full JJ B-NP +strength NN I-NP +Monday NNP B-NP +. . O + +The DT B-NP +day NN I-NP +before IN B-PP +the DT B-NP +quake NN I-NP +, , O +Seagate NNP B-NP +completed VBD B-VP +three CD B-NP +days NNS I-NP +of IN B-PP +emergency NN B-NP +training NN I-NP +and CC I-NP +drills NNS I-NP +. . O + +Echoing VBG B-VP +the DT B-NP +response NN I-NP +of IN B-PP +almost RB B-NP +all DT I-NP +big JJ I-NP +corporations NNS I-NP +in IN B-PP +the DT B-NP +Bay NNP I-NP +Area NNP I-NP +, , O +Don NNP B-NP +Waite NNP I-NP +, , O +Seagate NNP B-NP +'s POS B-NP +chief JJ I-NP +financial JJ I-NP +officer NN I-NP +, , O +said VBD B-VP +, , O +`` `` O +I PRP B-NP +would MD B-VP +n't RB I-VP +expect VB I-VP +this DT B-NP +to TO B-VP +have VB I-VP +any DT B-NP +significant JJ I-NP +financial JJ I-NP +impact NN I-NP +. . O +'' '' O + +The DT B-NP +city NN I-NP +'s POS B-NP +recovery NN I-NP +from IN B-PP +the DT B-NP +earthquake NN I-NP +was VBD B-VP +uneven JJ B-ADJP +. . O + +Banks NNP B-NP +indicated VBD B-VP +they PRP B-NP +were VBD B-VP +operating VBG I-VP +at IN B-PP +greater JJR B-NP +than IN I-NP +90 CD I-NP +% NN I-NP +of IN B-PP +their PRP$ B-NP +usual JJ I-NP +capacity NN I-NP +, , O +but CC O +a DT B-NP +Nob NNP I-NP +Hill NNP I-NP +hotel NN I-NP +said VBD B-VP +tourists NNS B-NP +had VBD B-VP +fled VBN I-VP +, , O +leaving VBG B-VP +the DT B-NP +previously RB I-NP +full JJ I-NP +hotel NN I-NP +with IN B-PP +an DT B-NP +80 CD I-NP +% NN I-NP +vacancy NN I-NP +rate NN I-NP +. . O + +City NN B-NP +crews NNS I-NP +tallied VBD B-VP +the DT B-NP +wreckage NN I-NP +to TO B-PP +buildings NNS B-NP +, , O +but CC O +lacked VBD B-VP +a DT B-NP +clear JJ I-NP +sense NN I-NP +of IN B-PP +how WRB B-ADVP +gravely RB I-ADVP +transportation NN B-NP +arteries NNS I-NP +were VBD B-VP +disabled JJ I-VP +. . O + +Among IN B-PP +the DT B-NP +city NN I-NP +'s POS B-NP +banks NNS I-NP +, , O +Bank NNP B-NP +of IN B-PP +America NNP B-NP +said VBD B-VP +all DT B-NP +but CC I-NP +eight CD I-NP +of IN B-PP +its PRP$ B-NP +850 CD I-NP +branches NNS I-NP +were VBD B-VP +open JJ B-ADJP +. . O + +The DT B-NP +closed VBD I-NP +branches NNS I-NP +, , O +in IN B-PP +San NNP B-NP +Francisco NNP I-NP +, , O +Hayward NNP B-NP +, , O +Santa NNP B-NP +Clara NNP I-NP +and CC O +Santa NNP B-NP +Cruz NNP I-NP +, , O +sustained VBN B-VP +structural JJ B-NP +damage NN I-NP +. . O + +Power NN B-NP +failures NNS I-NP +kept VBD B-VP +just RB B-NP +seven CD I-NP +of IN B-PP +its PRP$ B-NP +1,500 CD I-NP +automated-teller JJ I-NP +machines NNS I-NP +off-line JJ B-ADJP +. . O + +Securities-trading JJ B-NP +operations NNS I-NP +were VBD B-VP +moved VBN I-VP +to TO B-PP +Bank NNP B-NP +of IN B-PP +America NNP B-NP +'s POS B-NP +Concord NNP I-NP +office NN I-NP +, , O +and CC O +foreign-exchange JJ B-NP +trading NN I-NP +operations NNS I-NP +were VBD B-VP +shifted VBN I-VP +to TO B-PP +Los NNP B-NP +Angeles NNP I-NP +, , O +the DT B-NP +bank NN I-NP +said VBD B-VP +. . O + +Wells NNP B-NP +Fargo NNP I-NP +& CC I-NP +Co. NNP I-NP +said VBD B-VP +its PRP$ B-NP +Emergency NNP I-NP +Operations NNP I-NP +Committee NNP I-NP +-- : O +which WDT B-NP +met VBD B-VP +all DT B-NP +night NN I-NP +Tuesday NNP B-NP +-- : O +moved VBD B-VP +its PRP$ B-NP +global-funds JJ I-NP +transfer NN I-NP +system NN I-NP +to TO B-PP +El NNP B-NP +Monte NNP I-NP +, , O +Calif. NNP B-NP +, , O +500 CD B-NP +miles NNS I-NP +to TO B-PP +the DT B-NP +south RB I-NP +. . O + +Only RB B-NP +five CD I-NP +of IN B-PP +496 CD B-NP +branches NNS I-NP +statewide JJ B-ADVP +remain VB B-VP +closed VBD B-ADJP +, , O +while IN B-SBAR +23 CD B-NP +of IN B-PP +600 CD B-NP +automated-teller JJ I-NP +machines NNS I-NP +remained VBD B-VP +out IN B-PP +of IN B-PP +order NN B-NP +. . O + +The DT B-NP +most RBS I-NP +extensive JJ I-NP +damage NN I-NP +was VBD B-VP +in IN B-PP +small JJ B-NP +towns NNS I-NP +near IN B-PP +the DT B-NP +quake NN I-NP +'s POS B-NP +epicenter NN I-NP +, , O +80 CD B-NP +miles NNS I-NP +south RB B-ADVP +of IN B-PP +San NNP B-NP +Francisco NNP I-NP +. . O + +Santa NNP B-NP +Cruz NNP I-NP +County NNP I-NP +estimates NNS B-VP +total JJ B-NP +damage NN I-NP +at IN B-PP +nearly RB B-NP +$ $ I-NP +600 CD I-NP +million CD I-NP +. . O + +Santa NNP B-NP +Clara NNP I-NP +County NNP I-NP +has VBZ B-VP +a DT B-NP +running VBG I-NP +total JJ I-NP +so RB B-ADVP +far RB I-ADVP +of IN B-PP +$ $ B-NP +504 CD I-NP +million CD I-NP +, , O +excluding VBG B-PP +the DT B-NP +hard-hit JJ I-NP +city NN I-NP +of IN B-PP +Los NNP B-NP +Gatos NNP I-NP +. . O + +Oakland NN B-NP +officials NNS I-NP +were VBD B-VP +still RB B-ADVP +uncertain JJ B-ADJP +about IN B-PP +the DT B-NP +magnitude NN I-NP +of IN B-PP +structural JJ B-NP +damage NN I-NP +late JJ B-NP +yesterday NN I-NP +; : O +a DT B-NP +section NN I-NP +of IN B-PP +I-880 NN B-NP +, , O +a DT B-NP +twotiered JJ I-NP +highway NN I-NP +, , O +collapsed VBD B-VP +in IN B-PP +Oakland NNP B-NP +, , O +causing VBG B-VP +a DT B-NP +majority NN I-NP +of IN B-PP +the DT B-NP +deaths NNS I-NP +resulting VBG B-VP +from IN B-PP +the DT B-NP +quake NN I-NP +. . O + +San NNP B-NP +Francisco NNP I-NP +Mayor NNP I-NP +Art NNP I-NP +Agnos NNP I-NP +estimated VBD B-VP +that IN B-SBAR +damages NNS B-NP +to TO B-PP +the DT B-NP +city NN I-NP +total JJ B-VP +$ $ B-NP +2 CD I-NP +billion CD I-NP +. . O + +That DT B-NP +includes VBZ B-VP +dwellings NNS B-NP +in IN B-PP +the DT B-NP +ravaged VBN I-NP +Marina NNP I-NP +district NN I-NP +that WDT B-NP +must MD B-VP +be VB I-VP +demolished VBN I-VP +, , O +peeled VBN B-NP +business NN I-NP +facades NNS I-NP +south RB B-ADVP +of IN B-PP +Market NNP B-NP +Street NNP I-NP +, , O +and CC O +houses NNS B-NP +in IN B-PP +the DT B-NP +city NN I-NP +'s POS B-NP +outer JJ I-NP +Richmond NNP I-NP +district NN I-NP +that WDT B-NP +were VBD B-VP +heaved VBN I-VP +off IN B-PP +their PRP$ B-NP +foundations NNS I-NP +. . O + +Many JJ B-NP +streets NNS I-NP +and CC I-NP +sidewalks NNS I-NP +buckled VBD B-VP +, , O +and CC O +subterranean JJ B-NP +water NN I-NP +mains NNS I-NP +and CC I-NP +service NN I-NP +connections NNS I-NP +ruptured VBN B-VP +. . O + +The DT B-NP +federal JJ I-NP +funds NNS I-NP +would MD B-VP +go VB I-VP +to TO B-PP +a DT B-NP +range NN I-NP +of IN B-PP +programs NNS B-NP +, , O +including VBG B-PP +the DT B-NP +Federal NNP I-NP +Emergency NNP I-NP +Management NNP I-NP +Agency NNP I-NP +, , O +highway NN B-NP +construction NN I-NP +accounts NNS I-NP +and CC O +the DT B-NP +Small NNP I-NP +Business NNP I-NP +Administration NNP I-NP +, , O +according VBG B-PP +to TO B-PP +Rep. NNP B-NP +Vic NNP I-NP +Fazio NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Calif NNP B-NP +. . O +-RRB- ) O +. . O + +FEMA NNP B-NP +, , O +which WDT B-NP +coordinates VBZ B-VP +federal JJ B-NP +disaster NN I-NP +relief NN I-NP +, , O +is VBZ B-VP +already RB B-ADVP +strapped VBN B-ADJP +by IN B-PP +the DT B-NP +costs NNS I-NP +of IN B-PP +cleaning NN B-VP +up IN B-PRT +after IN B-PP +Hurricane NNP B-NP +Hugo NNP I-NP +, , O +which WDT B-NP +hit VBD B-VP +the DT B-NP +Carolinas NNPS I-NP +last JJ B-NP +month NN I-NP +. . O + +It PRP B-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +get VB I-VP +as RB B-NP +much JJ I-NP +as IN I-NP +$ $ I-NP +800 CD I-NP +million CD I-NP +initially RB B-ADVP +in IN B-PP +additional JJ B-NP +funds NNS I-NP +, , O +and CC O +eventually RB B-VP +could MD I-VP +get VB I-VP +more JJR B-NP +than IN I-NP +$ $ I-NP +1 CD I-NP +billion CD I-NP +, , O +according VBG B-PP +to TO B-PP +Mr. NNP B-NP +Fazio NNP I-NP +, , O +a DT B-NP +member NN I-NP +of IN B-PP +the DT B-NP +House NNP I-NP +Appropriations NNP I-NP +Committee NNP I-NP +. . O + +White NNP B-NP +House NNP I-NP +spokesman NN I-NP +Marlin NNP I-NP +Fitzwater NNP I-NP +said VBD B-VP +there EX B-NP +is VBZ B-VP +enough JJ B-NP +money NN I-NP +on IN B-PP +hand NN B-NP +to TO B-VP +deal VB I-VP +with IN B-PP +immediate JJ B-NP +requirements NNS I-NP +. . O + +The DT B-NP +Bush NNP I-NP +administration NN I-NP +has VBZ B-VP +at IN B-PP +its PRP$ B-NP +disposal NN I-NP +$ $ B-NP +273 CD I-NP +million CD I-NP +in IN B-PP +funds NNS B-NP +remaining VBG B-VP +from IN B-PP +the DT B-NP +$ $ I-NP +1.1 CD I-NP +billion CD I-NP +Congress NNP B-NP +released VBD B-VP +for IN B-PP +the DT B-NP +cleanup NN I-NP +after IN B-PP +Hurricane NNP B-NP +Hugo NNP I-NP +. . O + +`` `` O +We PRP B-NP +feel VBP B-VP +we PRP B-NP +have VBP B-VP +the DT B-NP +money NN I-NP +necessary JJ B-ADJP +to TO B-VP +handle VB I-VP +the DT B-NP +immediate JJ I-NP +, , I-NP +short-term JJ I-NP +requirements NNS I-NP +, , O +'' '' O +Mr. NNP B-NP +Fitzwater NNP I-NP +said VBD B-VP +. . O + +He PRP B-NP +added VBD B-VP +that IN B-SBAR +the DT B-NP +Office NNP I-NP +of IN B-PP +Management NNP B-NP +and CC I-NP +Budget NNP I-NP +, , O +the DT B-NP +Transportation NNP I-NP +Department NNP I-NP +and CC O +other JJ B-NP +agencies NNS I-NP +are VBP B-VP +`` `` O +developing VBG B-VP +longer-term JJ B-NP +legislation NN I-NP +'' '' O +that WDT B-NP +should MD B-VP +be VB I-VP +ready JJ B-ADJP +soon RB B-ADVP +. . O + +Much RB B-NP +of IN B-PP +the DT B-NP +cost NN I-NP +of IN B-PP +cleaning NN B-VP +up IN B-PRT +after IN B-PP +the DT B-NP +earthquake NN I-NP +will MD B-VP +involve VB I-VP +repairing VBG I-VP +highways NNS B-NP +and CC I-NP +bridges NNS I-NP +. . O + +California JJ B-NP +lawmakers NNS I-NP +are VBP B-VP +seeking VBG I-VP +changes NNS B-NP +in IN B-PP +rules NNS B-NP +governing VBG B-VP +the DT B-NP +federal JJ I-NP +highway NN I-NP +relief NN I-NP +program NN I-NP +so RB O +more JJR B-NP +money NN I-NP +can MD B-VP +be VB I-VP +made VBN I-VP +available JJ B-ADJP +for IN B-PP +the DT B-NP +state NN I-NP +. . O + +Some DT B-NP +things NNS I-NP +ca MD B-VP +n't RB I-VP +be VB I-VP +repaired VBN I-VP +. . O + +The DT B-NP +Asian NNP I-NP +Art NNP I-NP +Museum NNP I-NP +in IN B-PP +Golden NNP B-NP +Gate NNP I-NP +Park NNP I-NP +reports NNS B-VP +$ $ B-NP +10 CD I-NP +million CD I-NP +to TO I-NP +$ $ I-NP +15 CD I-NP +million CD I-NP +in IN B-PP +damage NN B-NP +, , O +including VBG B-PP +shattered VBN B-NP +porcelains NNS I-NP +and CC I-NP +stone NN I-NP +figures NNS I-NP +. . O + +Its PRP$ B-NP +neighbor NN I-NP +, , O +the DT B-NP +De NNP I-NP +Young NNP I-NP +Museum NNP I-NP +, , O +totaled VBD B-VP +$ $ B-NP +3 CD I-NP +million CD I-NP +to TO I-NP +$ $ I-NP +5 NN I-NP +million CD I-NP +in IN B-PP +structural JJ B-NP +damage NN I-NP +and CC O +shattered VBN B-NP +sculpture NN I-NP +. . O + +The DT B-NP +city NN I-NP +'s POS B-NP +main JJ I-NP +library NN I-NP +is VBZ B-VP +closed VBN I-VP +because IN B-PP +of IN I-PP +fissures NNS B-NP +that WDT B-NP +opened VBD B-VP +in IN B-PP +its PRP$ B-NP +walls NNS I-NP +, , O +and CC O +marble NN B-NP +facings NNS I-NP +and CC O +ornamental JJ B-NP +plaster NN I-NP +at IN B-PP +the DT B-NP +Beaux NNP I-NP +Arts NNP I-NP +City NNP I-NP +Hall NNP I-NP +broke VBD B-VP +off IN B-PRT +in IN B-PP +the DT B-NP +temblor NN I-NP +. . O + +The DT B-NP +ground NN I-NP +along IN B-PP +the DT B-NP +Embarcadero NNP I-NP +the DT B-NP +street NN I-NP +that IN B-NP +skirts VBZ B-VP +the DT B-NP +city NN I-NP +'s POS B-NP +eastern JJ I-NP +boundary NN I-NP +and CC I-NP +piers NNS I-NP +-- : O +dropped VBD B-VP +six CD B-NP +inches NNS I-NP +after IN B-PP +the DT B-NP +quake NN I-NP +, , O +wreaking VBG B-VP +major JJ B-NP +damage NN I-NP +to TO B-PP +at IN B-NP +least JJS I-NP +one CD I-NP +of IN B-PP +the DT B-NP +piers NNS I-NP +. . O + +At IN B-PP +San NNP B-NP +Francisco NNP I-NP +International NNP I-NP +Airport NNP I-NP +, , O +shock NN B-NP +waves NNS I-NP +wrecked VBD B-VP +the DT B-NP +control NN I-NP +tower NN I-NP +, , O +knocking VBG B-VP +down JJ B-ADVP +computers NNS B-NP +and CC O +shattering VBG B-VP +glass NN B-NP +. . O + +Offices NNS B-NP +of IN B-PP +the DT B-NP +city NN I-NP +'s POS B-NP +Rent NNP I-NP +Board NNP I-NP +were VBD B-VP +destroyed VBN I-VP +. . O + +Mayor NNP B-NP +Agnos NNP I-NP +'s POS B-NP +$ $ B-ADJP +2 CD O +billion CD O +estimate NN B-NP +does VBZ B-VP +n't RB I-VP +include VB I-VP +damage NN B-NP +to TO B-PP +freeway NN B-NP +arteries NNS I-NP +leading VBG B-VP +into IN B-PP +the DT B-NP +city NN I-NP +, , O +some DT B-NP +of IN B-PP +which WDT B-NP +remained VBD B-VP +closed VBN B-ADJP +. . O + +A DT B-NP +major JJ I-NP +chunk NN I-NP +of IN B-PP +the DT B-NP +$ $ I-NP +2 CD I-NP +billion CD I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +be VB I-VP +eaten VBN I-VP +up IN B-PRT +by IN B-PP +overtime NN B-NP +for IN B-PP +city NN B-NP +workers NNS I-NP +deployed VBN B-VP +in IN B-PP +the DT B-NP +emergency NN I-NP +, , O +said VBD B-VP +a DT B-NP +spokesman NN I-NP +for IN B-PP +Mr. NNP B-NP +Agnos NNP I-NP +. . O + +`` `` O +All DT B-NP +of IN B-PP +the DT B-NP +city NN I-NP +'s POS B-NP +$ $ B-ADJP +5.9 CD O +million CD O +emergency NN B-NP +reserve NN I-NP +was VBD B-VP +spent VBN I-VP +in IN B-PP +the DT B-NP +first JJ I-NP +24 CD I-NP +hours NNS I-NP +'' '' O +on IN B-PP +overtime NN B-NP +salaries NNS I-NP +, , O +he PRP B-NP +said VBD B-VP +. . O + +Insurers NNS B-NP +struggled VBD B-VP +to TO I-VP +to TO I-VP +get VB I-VP +a DT B-NP +firm NN I-NP +grasp NN I-NP +on IN B-PP +the DT B-NP +volume NN I-NP +of IN B-PP +claims NNS B-NP +pouring VBG B-VP +into IN B-PP +their PRP$ B-NP +offices NNS I-NP +. . O + +At IN B-PP +Fireman NNP B-NP +'s POS B-NP +Fund NNP I-NP +Corp. NNP I-NP +, , O +a DT B-NP +spokesman NN I-NP +said VBD B-VP +142 CD B-NP +claims NNS I-NP +were VBD B-VP +received VBN I-VP +in IN B-PP +the DT B-NP +first JJ I-NP +24 CD I-NP +hours NNS I-NP +after IN B-PP +the DT B-NP +quake NN I-NP +, , O +and CC O +the DT B-NP +company NN I-NP +is VBZ B-VP +braced VBN I-VP +for IN B-PP +as RB B-NP +many JJ I-NP +as IN I-NP +5,000 CD I-NP +claims NNS I-NP +from IN B-PP +its PRP$ B-NP +35,000 CD I-NP +residential JJ I-NP +and CC I-NP +35,000 CD I-NP +business NN I-NP +policyholders NNS I-NP +in IN B-PP +the DT B-NP +affected VBN I-NP +area NN I-NP +. . O + +`` `` O +Claims NNPS B-NP +range NN B-VP +from IN B-PP +a DT B-NP +scratched VBN I-NP +fender NN I-NP +-- : O +and CC O +there EX B-NP +were VBD B-VP +an DT B-NP +awful JJ I-NP +lot NN I-NP +of IN B-PP +cars NNS B-NP +damaged VBN B-VP +in IN B-PP +this DT B-NP +-- : O +to TO B-PP +a DT B-NP +major JJ I-NP +processing NN I-NP +plant NN I-NP +, , O +'' '' O +a DT B-NP +spokesman NN I-NP +said VBD B-VP +. . O + +`` `` O +We PRP B-NP +'re VBP B-VP +delivering VBG I-VP +a DT B-NP +check NN I-NP +for IN B-PP +$ $ B-NP +750,000 CD I-NP +to TO B-PP +an DT B-NP +automotive JJ I-NP +business NN I-NP +in IN B-PP +Berkeley NNP B-NP +that WDT B-NP +burned VBD B-VP +on IN B-PP +Tuesday NNP B-NP +. . O +'' '' O + +Fireman NNP B-NP +'s POS B-NP +is VBZ B-VP +part NN B-NP +of IN B-PP +a DT B-NP +$ $ I-NP +38 CD I-NP +million CD I-NP +syndicate NN I-NP +that IN B-NP +supplies NNS B-VP +business NN B-NP +interruption NN I-NP +insurance NN I-NP +to TO B-PP +the DT B-NP +city NN I-NP +on IN B-PP +the DT B-NP +Bay NNP I-NP +Bridge NNP I-NP +, , O +which WDT B-NP +must MD B-VP +pay VB I-VP +employees NNS B-NP +during IN B-PP +the DT B-NP +three CD I-NP +weeks NNS I-NP +or CC I-NP +more JJR I-NP +it PRP B-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +be VB I-VP +out IN B-PP +of IN B-PP +service NN B-NP +and CC O +deprived VBN B-VP +of IN B-PP +toll NN B-NP +income NN I-NP +. . O + +California JJ B-NP +lawmakers NNS I-NP +want VBP B-VP +to TO I-VP +eliminate VB I-VP +temporarily RB B-ADVP +a DT B-NP +$ $ I-NP +100 CD I-NP +million CD I-NP +cap NN I-NP +on IN B-PP +the DT B-NP +amount NN I-NP +of IN B-PP +federal JJ B-NP +highway NN I-NP +relief NN I-NP +for IN B-PP +each DT B-NP +state NN I-NP +for IN B-PP +each DT B-NP +disaster NN I-NP +, , O +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +a DT B-NP +prohibition NN I-NP +on IN B-PP +using VBG B-VP +the DT B-NP +emergency NN I-NP +highway NN I-NP +aid NN I-NP +to TO B-VP +repair VB I-VP +toll NN B-NP +roads NNS I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +under IN B-PP +the DT B-NP +highway-relief JJ I-NP +program NN I-NP +, , O +the DT B-NP +federal JJ I-NP +government NN I-NP +provides VBZ B-VP +100 CD B-NP +% NN I-NP +of IN B-PP +emergency NN B-NP +highway NN I-NP +aid NN I-NP +for IN B-PP +only RB B-NP +the DT I-NP +first JJ I-NP +90 CD I-NP +days NNS I-NP +of IN B-PP +a DT B-NP +repair NN I-NP +effort NN I-NP +. . O + +After IN B-PP +that DT B-NP +, , O +the DT B-NP +federal JJ I-NP +share NN I-NP +diminishes VBZ B-VP +. . O + +For IN B-PP +interstate JJ B-NP +highways NNS I-NP +, , O +the DT B-NP +federal JJ I-NP +share NN I-NP +normally RB B-ADVP +would MD B-VP +drop VB I-VP +to TO B-PP +90 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +cost NN I-NP +of IN B-PP +repairs NNS B-NP +, , O +and CC O +the DT B-NP +state NN I-NP +would MD B-VP +have VB I-VP +to TO I-VP +pick VB I-VP +up IN B-PRT +the DT B-NP +remainder NN I-NP +of IN B-PP +the DT B-NP +cost NN I-NP +. . O + +But CC O +lawmakers NNS B-NP +want VBP B-VP +to TO I-VP +extend VB I-VP +the DT B-NP +period NN I-NP +for IN B-PP +100 CD B-NP +% NN I-NP +federal JJ I-NP +funding NN I-NP +for IN B-PP +several JJ B-NP +months NNS I-NP +. . O + +Those DT B-NP +changes NNS I-NP +also RB B-ADVP +would MD B-VP +apply VB I-VP +to TO B-PP +two CD B-NP +areas NNS I-NP +hit VBD B-VP +hard JJ B-ADVP +by IN B-PP +Hurricane NNP B-NP +Hugo NNP I-NP +-- : O +South NNP B-NP +Carolina NNP I-NP +and CC O +the DT B-NP +U.S. NNP I-NP +Virgin NNP I-NP +Islands NNPS I-NP +, , O +according VBG B-PP +to TO B-PP +an DT B-NP +aide NN I-NP +to TO B-PP +Rep. NNP B-NP +Fazio NNP I-NP +. . O + +Meanwhile RB B-ADVP +, , O +the DT B-NP +FEMA NNP I-NP +announced VBD B-VP +a DT B-NP +toll-free JJ I-NP +telephone NN I-NP +number NN I-NP +-LRB- ( O +800-462-9029 CD B-NP +-RRB- ) O +to TO B-VP +expedite VB I-VP +service NN B-NP +to TO B-PP +victims NNS B-NP +of IN B-PP +the DT B-NP +earthquake NN I-NP +. . O + +Lines NNS B-NP +will MD B-VP +be VB I-VP +available JJ B-ADJP +24 CD B-NP +hours VBZ I-NP +a DT B-NP +day NN I-NP +to TO B-VP +take VB I-VP +applications NNS B-NP +for IN B-PP +such JJ B-NP +disaster NN I-NP +relief NN I-NP +as IN B-PP +temporary JJ B-NP +housing NN I-NP +and CC O +emergency NN B-NP +home NN I-NP +repairs NNS I-NP +by IN B-PP +phone NN B-NP +. . O + +Transportation NN B-NP +officials NNS I-NP +are VBP B-VP +expecting VBG I-VP +utter JJ B-NP +traffic NN I-NP +pandemonium NN I-NP +beginning VBG B-VP +Monday NNP B-NP +and CC O +growing VBG B-VP +worse JJR B-ADJP +over IN B-PP +the DT B-NP +next JJ I-NP +several JJ I-NP +weeks NNS I-NP +. . O + +Some DT B-NP +250,000 CD I-NP +cars NNS I-NP +normally RB B-ADVP +cross VBP B-VP +the DT B-NP +closed VBN I-NP +Bay NNP I-NP +Bridge NNP I-NP +between IN B-PP +Oakland NNP B-NP +and CC O +San NNP B-NP +Francisco NNP I-NP +daily JJ B-ADVP +. . O + +Officials NNS B-NP +say VBP B-VP +it PRP B-NP +is VBZ B-VP +clear JJ B-ADJP +that IN B-SBAR +alternate JJ B-NP +routes NNS I-NP +ca MD B-VP +n't RB I-VP +handle VB I-VP +the DT B-NP +overflow NN I-NP +. . O + +The DT B-NP +state NN I-NP +is VBZ B-VP +calling VBG I-VP +in IN B-PRT +a DT B-NP +flotilla NN I-NP +of IN B-PP +navy NN B-NP +landing NN I-NP +vessels NNS I-NP +and CC O +other JJ B-NP +boats NNS I-NP +to TO B-VP +expand VB I-VP +ferry NN B-NP +service NN I-NP +across IN B-PP +the DT B-NP +bay NN I-NP +and CC O +hopes VBZ B-VP +to TO I-VP +add VB I-VP +numerous JJ B-NP +new JJ I-NP +bus NN I-NP +routes NNS I-NP +and CC I-NP +train NN I-NP +departures NNS I-NP +to TO B-VP +help VB I-VP +alleviate VB I-VP +the DT B-NP +traffic NN I-NP +problem NN I-NP +. . O + +Moreover RB B-ADVP +, , O +state NN B-NP +officials NNS I-NP +are VBP B-VP +urging VBG I-VP +freight NN B-NP +haulers NNS I-NP +to TO B-VP +bypass VB I-VP +many NN B-NP +of IN B-PP +the DT B-NP +area NN I-NP +'s POS B-NP +main JJ I-NP +highways NNS I-NP +and CC O +to TO B-VP +travel VB I-VP +late RB B-ADVP +at IN B-PP +night NN B-NP +or CC O +during IN B-PP +predawn JJ B-NP +hours NNS I-NP +. . O + +Even RB B-ADVP +so RB I-ADVP +, , O +`` `` O +We PRP B-NP +'re VBP B-VP +looking VBG I-VP +for IN B-PP +chaos NN B-NP +, , O +'' '' O +said VBD B-VP +George NNP B-NP +Gray NNP I-NP +, , O +a DT B-NP +deputy NN I-NP +district NN I-NP +director NN I-NP +at IN B-PP +the DT B-NP +California NNP I-NP +Department NNP I-NP +of IN B-PP +Transportation NNP B-NP +. . O + +`` `` O +If IN B-SBAR +there EX B-NP +'s VBZ B-VP +any DT B-NP +way NN I-NP +you PRP B-NP +can MD B-VP +do VB I-VP +it PRP B-NP +, , O +you PRP B-NP +ought MD B-VP +to TO I-VP +go VB I-VP +to TO B-PP +Idaho NNP B-NP +and CC O +go VB B-VP +fishing NN B-NP +for IN B-PP +a DT B-NP +while NN I-NP +. . O +'' '' O + +Most JJS B-NP +of IN B-PP +San NNP B-NP +Francisco NNP I-NP +'s POS B-NP +tourists NNS I-NP +and CC I-NP +business NN I-NP +travelers NNS I-NP +already RB B-ADVP +have VBP B-VP +left VBN I-VP +-- : O +despite IN B-PP +hotel NN B-NP +'s POS B-NP +offers NNS I-NP +of IN B-PP +rate NN B-NP +cuts NNS I-NP +. . O + +`` `` O +Everyone NN B-NP +left VBN B-VP +, , O +'' '' O +said VBD B-VP +Peter NNP B-NP +Lang NNP I-NP +, , O +reservations NNS B-NP +manager NN I-NP +of IN B-PP +the DT B-NP +Mark NNP I-NP +Hopkins NNP I-NP +Hotel NNP I-NP +. . O + +The DT B-NP +Westin NNP I-NP +St. NNP I-NP +Francis NNP I-NP +hotel NN I-NP +, , O +which WDT B-NP +survived VBD B-VP +the DT B-NP +1906 CD I-NP +earthquake NN I-NP +and CC I-NP +fire NN I-NP +, , O +currently RB B-ADVP +is VBZ B-VP +less JJR B-NP +than IN I-NP +50 CD I-NP +% NN I-NP +occupied VBN B-ADJP +. . O + +`` `` O +We PRP B-NP +still RB B-ADVP +have VBP B-VP +our PRP$ B-NP +die-hard JJ I-NP +baseball NN I-NP +fans NNS I-NP +, , O +'' '' O +a DT B-NP +spokesman NN I-NP +said VBD B-VP +. . O + +`` `` O +One CD B-NP +lady NN I-NP +from IN B-PP +New NNP B-NP +York NNP I-NP +said VBD B-VP +she PRP B-NP +'s VBZ B-VP +not RB I-VP +going VBG I-VP +home NN B-ADVP +until IN B-SBAR +the DT B-NP +-LCB- ( I-NP +World NNP I-NP +Series NNP I-NP +-RCB- ) O +is VBZ B-VP +over IN B-ADVP +. . O +'' '' O + +Gerald NNP B-NP +F. NNP I-NP +Seib NNP I-NP +and CC O +Joe NNP B-NP +Davidson NNP I-NP +in IN B-PP +Washington NNP B-NP +contributed VBD B-VP +to TO B-PP +this DT B-NP +article NN I-NP +. . O + +Is VBZ O +an DT B-NP +American NNP I-NP +Secretary NNP I-NP +of IN B-PP +State NNP B-NP +seriously RB B-VP +suggesting VBG I-VP +that IN B-SBAR +the DT B-NP +Khmer NNP I-NP +Rouge NNP I-NP +should MD B-VP +help VB I-VP +govern VB I-VP +Cambodia NNP B-NP +? . O + +Apparently RB B-ADVP +so RB I-ADVP +. . O + +There EX B-NP +are VBP B-VP +no DT B-NP +easy JJ I-NP +choices NNS I-NP +in IN B-PP +Cambodia NNP B-NP +, , O +but CC O +we PRP B-NP +ca MD B-VP +n't RB I-VP +imagine VB I-VP +that IN B-SBAR +it PRP B-NP +benefits VBZ B-VP +the DT B-NP +U.S. NNP I-NP +to TO B-VP +become VB I-VP +the DT B-NP +catalyst NN I-NP +for IN B-PP +an DT B-NP +all-too-familiar JJ I-NP +process NN I-NP +that WDT B-NP +could MD B-VP +end VB I-VP +in IN B-PP +another DT B-NP +round NN I-NP +of IN B-PP +horror NN B-NP +in IN B-PP +Cambodia NNP B-NP +. . O + +Now RB B-ADVP +that IN B-SBAR +Vietnam NNP B-NP +appears VBZ B-VP +to TO I-VP +have VB I-VP +pulled VBN I-VP +out IN B-PRT +its PRP$ B-NP +occupation NN I-NP +army NN I-NP +, , O +the DT B-NP +State NNP I-NP +Department NNP I-NP +is VBZ B-VP +talking VBG I-VP +again RB B-ADVP +about IN B-PP +accepting VBG B-VP +an DT B-NP +`` `` I-NP +interim JJ I-NP +'' '' I-NP +coalition NN I-NP +government NN I-NP +in IN B-PP +the DT B-NP +Cambodian JJ I-NP +capital NN I-NP +of IN B-PP +Phnom NNP B-NP +Penh NNP I-NP +. . O + +The DT B-NP +coalition NN I-NP +would MD B-VP +include VB I-VP +the DT B-NP +current JJ I-NP +Vietnamese-backed JJ I-NP +Hun NNP I-NP +Sen NNP I-NP +regime NN I-NP +, , O +the DT B-NP +two CD I-NP +non-communist JJ I-NP +resistance NN I-NP +groups NNS I-NP +led VBN B-VP +by IN B-PP +Son NNP B-NP +Sann NNP I-NP +and CC O +Prince NNP B-NP +Sihanouk NNP I-NP +, , O +and CC O +the DT B-NP +Khmer NNP I-NP +Rouge NNP I-NP +. . O + +The DT B-NP +aim NN I-NP +would MD B-VP +be VB I-VP +to TO B-VP +end VB I-VP +the DT B-NP +guerrilla NN I-NP +war NN I-NP +for IN B-PP +control NN B-NP +of IN B-PP +Cambodia NNP B-NP +by IN B-PP +allowing VBG B-VP +the DT B-NP +Khmer NNP I-NP +Rouge NNP I-NP +a DT B-NP +small JJ I-NP +share NN I-NP +of IN B-PP +power NN B-NP +. . O + +The DT B-NP +State NNP I-NP +Department NNP I-NP +says VBZ B-VP +that IN B-SBAR +any DT B-NP +Khmer NNP I-NP +Rouge NNP I-NP +participation NN I-NP +would MD B-VP +have VB I-VP +to TO I-VP +be VB I-VP +`` `` O +minimal JJ B-ADJP +. . O +'' '' O + +The DT B-NP +usual JJ I-NP +problem NN I-NP +with IN B-PP +including VBG B-VP +communists NNS B-NP +in IN B-PP +`` `` B-NP +interim JJ I-NP +'' '' I-NP +coalition NN I-NP +governments NNS I-NP +is VBZ B-VP +that IN B-SBAR +their PRP$ B-NP +ideology NN I-NP +and CC I-NP +methods NNS I-NP +require VBP B-VP +they PRP B-NP +squeeze VBP B-VP +out IN B-PRT +everyone NN B-NP +else RB B-ADJP +. . O + +Recall VB B-VP +that IN B-SBAR +Nicaragua NNP B-NP +'s POS B-NP +Sandinistas NNPS I-NP +came VBD B-VP +into IN B-PP +Managua NNP B-NP +as IN B-PP +partners NNS B-NP +in IN B-PP +a DT B-NP +coalition NN I-NP +government NN I-NP +with IN B-PP +anti-Somoza JJ B-NP +moderates NNS I-NP +. . O + +Within IN B-PP +two CD B-NP +years NNS I-NP +, , O +the DT B-NP +moderates NNS I-NP +were VBD B-VP +exiled VBN B-VP +or CC O +in IN B-PP +prison NN B-NP +, , O +Nicaragua NNP B-NP +had VBD B-VP +gone VBN I-VP +communist JJ B-ADJP +, , O +and CC O +the DT B-NP +Sandinistas NNPS I-NP +were VBD B-VP +building NN I-VP +one CD B-NP +of IN B-PP +the DT B-NP +biggest JJS I-NP +armies NNS I-NP +in IN B-PP +Latin NNP B-NP +America NNP I-NP +and CC O +threatening VBG B-VP +their PRP$ B-NP +neighbors NNS I-NP +. . O + +In IN B-PP +Laos NNP B-NP +, , O +when WRB B-ADVP +the DT B-NP +Western JJ I-NP +powers NNS I-NP +bowed VBD B-VP +to TO B-PP +pressure VB B-NP +for IN B-PP +such JJ B-NP +a DT I-NP +coalition NN I-NP +it PRP B-NP +turned VBD B-VP +out IN B-PRT +they PRP B-NP +were VBD B-VP +opening VBG I-VP +the DT B-NP +door NN I-NP +to TO B-PP +communist JJ B-NP +domination NN I-NP +. . O + +Even RB O +Mao NNP B-NP +Tse-tung NNP I-NP +'s POS B-NP +China NNP I-NP +began VBD B-VP +in IN B-PP +1949 CD B-NP +with IN B-PP +a DT B-NP +partnership NN I-NP +between IN B-PP +the DT B-NP +communists NNS I-NP +and CC O +a DT B-NP +number NN I-NP +of IN B-PP +smaller JJR B-NP +, , I-NP +non-communist JJ I-NP +parties NNS I-NP +. . O + +What WP B-NP +complicates VBZ B-VP +the DT B-NP +scene NN I-NP +in IN B-PP +Cambodia NNP B-NP +is VBZ B-VP +that IN B-SBAR +the DT B-NP +current JJ I-NP +regime NN I-NP +is VBZ B-VP +already RB B-ADVP +communist JJ B-ADJP +, , O +as IN B-SBAR +are VBP B-VP +its PRP$ B-NP +Vietnamese JJ I-NP +overseers NNS I-NP +back RB B-PP +in IN I-PP +Hanoi NNP B-NP +, , O +as IN B-SBAR +are VBP B-VP +the DT B-NP +Khmer NNP I-NP +Rouge NNP I-NP +-- : O +who WP B-NP +are VBP B-VP +the DT B-NP +strongest JJS I-NP +of IN B-PP +the DT B-NP +three CD I-NP +guerrilla NN I-NP +groups NNS I-NP +. . O + +It PRP B-NP +'s VBZ B-VP +not RB B-ADJP +clear JJ I-ADJP +which WDT B-NP +crew NN I-NP +of IN B-PP +communists NNS B-NP +might MD B-VP +prevail VB I-VP +in IN B-PP +a DT B-NP +coalition NN I-NP +government NN I-NP +, , O +but CC O +the DT B-NP +one CD I-NP +good JJ I-NP +bet NN I-NP +is VBZ B-VP +that IN B-SBAR +the DT B-NP +non-communists NNS I-NP +would MD B-VP +disappear VB I-VP +. . O + +That DT B-NP +would MD B-VP +leave VB I-VP +Hun NNP B-NP +Sen NNP I-NP +and CC O +the DT B-NP +Khmer NNP I-NP +Rouge NNP I-NP +. . O + +The DT B-NP +Hun NNP I-NP +Sen NNP I-NP +regime NN I-NP +has VBZ B-VP +sent VBN I-VP +thousands NNS B-NP +of IN B-PP +conscript NN B-NP +laborers NNS I-NP +to TO B-VP +die VB I-VP +of IN B-PP +malaria NN B-NP +and CC I-NP +malnourishment NN I-NP +while IN B-SBAR +building NN B-VP +Cambodia NNP B-NP +'s POS B-NP +equivalent NN I-NP +of IN B-PP +the DT B-NP +Berlin NNP I-NP +Wall NNP I-NP +near IN B-PP +the DT B-NP +Thai NNP I-NP +border NN I-NP +. . O + +The DT B-NP +Khmer NNP I-NP +Rouge NNP I-NP +, , O +however RB B-ADVP +, , O +carry VB B-VP +an DT B-NP +unsurpassed JJ I-NP +record NN I-NP +for IN B-PP +Cambodian JJ B-NP +tyranny NN I-NP +. . O + +These DT B-NP +utopians NNS I-NP +caused VBD B-VP +the DT B-NP +deaths NNS I-NP +-- : O +by IN B-PP +starvation NN B-NP +, , I-NP +disease NN I-NP +or CC I-NP +execution NN I-NP +-- : O +of IN B-PP +well RB B-NP +over IN I-NP +one CD I-NP +million CD I-NP +Cambodians NNPS I-NP +. . O + +The DT B-NP +Cambodian JJ I-NP +horror NN I-NP +was VBD B-VP +so RB B-ADJP +bad JJ I-ADJP +that IN B-SBAR +the DT B-NP +Vietnamese JJ I-NP +occupation NN I-NP +in IN B-PP +1978 CD B-NP +was VBD B-VP +a DT B-NP +perverse JJ I-NP +form NN I-NP +of IN B-PP +relief NN B-NP +. . O + +The DT B-NP +world NN I-NP +might MD B-VP +want VB I-VP +to TO I-VP +believe VB I-VP +that IN B-SBAR +the DT B-NP +Khmer NNP I-NP +Rouge NNP I-NP +ca MD B-VP +n't RB I-VP +still RB I-VP +be VB I-VP +such JJ B-NP +bad JJ I-NP +guys NNS I-NP +, , O +just RB B-SBAR +as IN I-SBAR +in IN B-PP +the DT B-NP +late JJ I-NP +1970s NNS I-NP +it PRP B-NP +was VBD B-VP +reluctant JJ B-ADJP +to TO B-VP +credit VB I-VP +the DT B-NP +reports NNS I-NP +of IN B-PP +genocide NN B-NP +then RB B-VP +taking VBG I-VP +place NN B-NP +. . O + +But CC O +there EX B-NP +is VBZ B-VP +no DT B-NP +solid JJ I-NP +evidence NN I-NP +that IN B-SBAR +the DT B-NP +Khmer NNP I-NP +Rouge NNP I-NP +have VBP B-VP +changed VBN I-VP +. . O + +Some DT B-NP +of IN B-PP +our PRP$ B-NP +sources NNS I-NP +in IN B-PP +Thailand NNP B-NP +say VBP B-VP +the DT B-NP +notorious JJ I-NP +old JJ I-NP +Khmer NNP I-NP +Rouge NNP I-NP +leader NN I-NP +, , O +Pol NNP B-NP +Pot NNP I-NP +, , O +has VBZ B-VP +been VBN I-VP +holed VBN I-VP +up IN B-PRT +this DT B-NP +summer NN I-NP +in IN B-PP +Khmer NNP B-NP +Rouge NNP I-NP +camps NNS I-NP +near IN B-PP +the DT B-NP +Thai-Cambodian JJ I-NP +border NN I-NP +. . O + +So RB O +it PRP B-NP +'s VBZ B-VP +difficult JJ B-ADJP +to TO B-VP +swallow VB I-VP +the DT B-NP +notion NN I-NP +that IN B-SBAR +Mr. NNP B-NP +Baker NNP I-NP +is VBZ B-VP +willing JJ B-ADJP +to TO B-VP +accept VB I-VP +conditions NNS B-NP +that WDT B-NP +would MD B-VP +help VB I-VP +the DT B-NP +Khmer NNP I-NP +Rouge NNP I-NP +set VBD B-VP +up IN B-PRT +shop NN B-NP +again RB B-ADVP +in IN B-PP +Phnom NNP B-NP +Penh NNP I-NP +. . O + +True JJ B-ADVP +, , O +Prince NNP B-NP +Sihanouk NNP I-NP +backs VBZ B-VP +the DT B-NP +idea NN I-NP +of IN B-PP +such JJ B-NP +a DT I-NP +coalition NN I-NP +, , O +at IN B-ADVP +least JJS I-ADVP +for IN B-PP +this DT B-NP +week NN I-NP +. . O + +But CC O +Prince NNP B-NP +Sihanouk NNP I-NP +has VBZ B-VP +backed VBN I-VP +all DT B-NP +sorts NNS I-NP +of IN B-PP +ideas NNS B-NP +over IN B-PP +the DT B-NP +years NNS I-NP +, , O +and CC O +done VBD B-VP +rather RB B-ADVP +better JJR I-ADVP +by IN B-PP +himself PRP B-NP +than IN B-PP +by IN B-PP +Cambodia NNP B-NP +. . O + +Nor CC O +should MD O +the DT B-NP +U.S. NNP I-NP +worry NN B-VP +much JJ B-ADVP +about IN B-PP +offending VBG B-VP +China NNP B-NP +, , O +which WDT B-NP +still RB B-ADVP +aids VBZ B-VP +the DT B-NP +Khmer NNP I-NP +Rouge NNP I-NP +. . O + +It PRP B-NP +'s VBZ B-VP +time NN B-NP +the DT B-NP +State NNP I-NP +Department NNP I-NP +recognized VBD B-VP +that IN B-SBAR +China NNP B-NP +does VBZ B-VP +not RB I-VP +play VB I-VP +by IN B-PP +gentlemen NNS B-NP +'s POS B-NP +rules NNS I-NP +. . O + +For IN B-SBAR +the DT B-NP +U.S. NNP I-NP +to TO B-VP +lend VB I-VP +even RB B-NP +the DT I-NP +slightest JJS I-NP +support NN I-NP +to TO B-PP +the DT B-NP +most RBS I-NP +infamous JJ I-NP +killers NNS I-NP +on IN B-PP +Indochina NNP B-NP +'s POS B-NP +bleak JJ I-NP +scene NN I-NP +could MD B-VP +only RB I-VP +disturb VB I-VP +America NNP B-NP +'s POS B-NP +allies NNS I-NP +elsewhere RB B-ADVP +. . O + +It PRP B-NP +would MD B-VP +be VB I-VP +entirely RB B-ADJP +rational JJ I-ADJP +for IN B-SBAR +communist JJ B-NP +insurgents NNS I-NP +in IN B-PP +countries NNS B-NP +such JJ B-PP +as IN I-PP +the DT B-NP +Philippines NNP I-NP +or CC O +Peru NNP B-NP +to TO B-VP +conclude VB I-VP +the DT B-NP +following VBG I-NP +: : O +Fight VB B-VP +viciously RB B-ADVP +enough RB I-ADVP +and CC O +the DT B-NP +U.S. NNP I-NP +, , O +under IN B-PP +the DT B-NP +banner NN I-NP +of IN B-PP +pragmatism NN B-NP +, , O +might MD B-VP +eventually RB I-VP +help VB I-VP +negotiate VB I-VP +your PRP$ B-NP +way NN I-NP +to TO B-PP +victory NN B-NP +. . O + +U.S. NNP B-NP +diplomacy NN I-NP +has VBZ B-VP +done VBN I-VP +it PRP B-NP +before RB B-ADVP +, , O +and CC O +it PRP B-NP +will MD B-VP +likely RB I-VP +do NN I-VP +it PRP B-NP +again RB B-ADVP +. . O + +The DT B-NP +administration NN I-NP +and CC O +Congress NNP B-NP +have VBP B-VP +lately RB I-VP +tangoed VBD I-VP +around IN B-PP +the DT B-NP +idea NN I-NP +of IN B-PP +sending VBG B-VP +military JJ B-NP +aid NN I-NP +to TO B-PP +Cambodia NNP B-NP +'s POS B-NP +non-communists NNS I-NP +. . O + +But CC O +now RB B-ADVP +the DT B-NP +possibility NN I-NP +of IN B-PP +`` `` O +diplomatic JJ B-NP +movement NN I-NP +'' '' O +-LRB- ( O +Vietnam NNP B-NP +'s POS B-NP +withdrawal NN I-NP +, , O +the DT B-NP +Baker NNP I-NP +initiative NN I-NP +-RRB- ) O +has VBZ B-VP +put VBN I-VP +that DT B-NP +plan NN I-NP +on IN B-PP +hold NN B-NP +, , O +with IN B-PP +the DT B-NP +proviso NN I-NP +that IN B-SBAR +if IN B-SBAR +the DT B-NP +going VBG I-NP +got VBN B-VP +rough JJ B-ADJP +, , O +the DT B-NP +U.S. NNP I-NP +would MD B-VP +then RB I-VP +rearm VB I-VP +the DT B-NP +opposition NN I-NP +. . O + +Why WRB B-ADVP +the DT B-NP +timidity NN I-NP +? . O + +At IN B-PP +the DT B-NP +very RB I-NP +least JJS I-NP +, , O +the DT B-NP +odds NNS I-NP +are VBP B-VP +heavily RB I-VP +weighted JJ I-VP +against IN B-PP +the DT B-NP +prospects NNS I-NP +of IN B-PP +preventing VBG B-VP +the DT B-NP +Khmer NNP I-NP +Rouge NNP I-NP +and CC O +Cambodia NNP B-NP +'s POS B-NP +communists NNS I-NP +from IN B-PP +ultimately RB B-ADVP +moving VBG B-VP +against IN B-PP +their PRP$ B-NP +opponents NNS I-NP +. . O + +When WRB B-ADVP +that DT B-NP +day NN I-NP +comes VBZ B-VP +, , O +it PRP B-NP +would MD B-VP +be VB I-VP +particularly RB B-ADJP +awful JJ I-ADJP +to TO B-VP +know VB I-VP +that IN B-SBAR +the DT B-NP +United NNP I-NP +States NNPS I-NP +sat VBD B-VP +on IN B-PP +military JJ B-NP +aid NN I-NP +and CC O +deprived VBD B-VP +these DT B-NP +people NNS I-NP +of IN B-PP +the DT B-NP +means NNS I-NP +to TO B-VP +settle VB I-VP +their PRP$ B-NP +fate NN I-NP +with IN B-PP +at IN B-ADVP +least JJS I-ADVP +a DT B-NP +little JJ I-NP +honor NN I-NP +. . O + +Michael NNP B-NP +F. NNP I-NP +Harris NNP I-NP +, , O +53 CD B-NP +, , O +was VBD B-VP +named VBN I-VP +executive JJ B-NP +vice NN I-NP +president NN I-NP +, , O +North NNP B-NP +America NNP I-NP +, , O +for IN B-PP +the DT B-NP +Financial NNP I-NP +Times NNP I-NP +, , O +the DT B-NP +business NN I-NP +newspaper NN I-NP +published VBN B-VP +by IN B-PP +this DT B-NP +company NN I-NP +that WDT B-NP +also RB B-ADVP +has VBZ B-VP +interests NNS B-NP +in IN B-PP +book NN B-NP +publishing NN I-NP +, , O +fine JJ B-NP +china NN I-NP +, , O +oil NN B-NP +services NNS I-NP +and CC O +investment NN B-NP +banking NN I-NP +. . O + +Mr. NNP B-NP +Harris NNP I-NP +had VBD B-VP +been VBN I-VP +vice NN B-NP +president NN I-NP +for IN B-PP +the DT B-NP +newspaper NN I-NP +'s POS B-NP +advertising NN I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +. . O + +He PRP B-NP +takes VBZ B-VP +additional JJ B-NP +responsibility NN I-NP +for IN B-PP +newspaper NN B-NP +sales NNS I-NP +and CC O +distribution NN B-NP +of IN B-PP +the DT B-NP +Financial NNP I-NP +Times NNP I-NP +in IN B-PP +North NNP B-NP +America NNP I-NP +. . O + +Laurance NNP B-NP +V. NNP I-NP +Allen NNP I-NP +, , O +44 CD B-NP +, , O +who WP B-NP +had VBD B-VP +been VBN I-VP +director NN B-NP +for IN B-PP +North NNP B-NP +America NNP I-NP +, , O +resigned VBD B-VP +to TO B-VP +pursue VB I-VP +other JJ B-NP +business NN I-NP +interests NNS I-NP +and CC O +do VBP B-VP +some DT B-NP +consulting NN I-NP +. . O + +Cipher NNP B-NP +Data NNP I-NP +Products NNP I-NP +Inc. NNP I-NP +posted VBD B-VP +a DT B-NP +net JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +14.2 CD I-NP +million CD I-NP +, , O +or CC O +97 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +for IN B-PP +its PRP$ B-NP +fiscal JJ I-NP +first JJ I-NP +quarter NN I-NP +, , O +compared VBN B-PP +with IN B-PP +net JJ B-NP +income NN I-NP +of IN B-PP +$ $ B-NP +3.8 CD I-NP +million CD I-NP +, , O +or CC O +27 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Revenue NN B-NP +for IN B-PP +the DT B-NP +quarter NN I-NP +ended VBN B-VP +Sept. NNP B-NP +30 CD I-NP +fell VBD B-VP +20 CD B-NP +% NN I-NP +, , O +to TO B-PP +$ $ B-NP +41.3 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +51.9 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +year-earlier JJ I-NP +period NN I-NP +. . O + +Cipher NNP B-NP +Data NNP I-NP +, , O +a DT B-NP +San NNP I-NP +Diego NNP I-NP +maker NN I-NP +of IN B-PP +magnetic JJ B-NP +tape NN I-NP +peripherals NNS I-NP +and CC O +optical JJ B-NP +disc NN I-NP +drives NNS I-NP +, , O +said VBD B-VP +the DT B-NP +loss NN I-NP +included VBD B-VP +reserves NNS B-NP +of IN B-PP +$ $ B-NP +3.8 CD I-NP +million CD I-NP +related VBN B-ADJP +to TO B-PP +a DT B-NP +corporate JJ I-NP +restructuring NN I-NP +. . O + +The DT B-NP +restructuring NN I-NP +calls VBZ B-VP +for IN B-PP +a DT B-NP +24 CD I-NP +% NN I-NP +reduction NN I-NP +in IN B-PP +its PRP$ B-NP +work NN I-NP +force NN I-NP +over IN B-PP +the DT B-NP +next JJ I-NP +two CD I-NP +months NNS I-NP +, , O +affecting VBG B-VP +about IN B-NP +525 CD I-NP +jobs NNS I-NP +, , O +Cipher NNP B-NP +Data NNP I-NP +said VBD B-VP +. . O + +It PRP B-NP +is VBZ B-VP +eliminating VBG I-VP +the DT B-NP +positions NNS I-NP +of IN B-PP +president NN B-NP +and CC O +chief JJ B-NP +operating VBG I-NP +officer NN I-NP +, , O +formerly RB B-VP +held VBN I-VP +by IN B-PP +Edward NNP B-NP +L. NNP I-NP +Marinaro NNP I-NP +. . O + +Cipher NNP B-NP +Data NNP I-NP +said VBD B-VP +Mr. NNP B-NP +Marinaro NNP I-NP +consequently RB B-ADVP +has VBZ B-VP +resigned VBN I-VP +from IN B-PP +those DT B-NP +posts NNS I-NP +and CC B-PP +from IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +board NN I-NP +. . O + +Mr. NNP B-NP +Marinaro NNP I-NP +could MD B-VP +n't RB I-VP +immediately RB I-VP +be VB I-VP +reached VBN I-VP +for IN B-PP +comment NN B-NP +. . O + +FileNet NNP B-NP +Corp. NNP I-NP +, , O +Costa NNP B-NP +Mesa NNP I-NP +, , O +Calif. NNP B-NP +, , O +said VBD B-VP +it PRP B-NP +expects VBZ B-VP +to TO I-VP +report VB I-VP +a DT B-NP +third-quarter JJ I-NP +loss NN I-NP +of IN B-PP +about RB B-NP +$ $ I-NP +1.8 CD I-NP +million CD I-NP +, , O +or CC O +17 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +because IN B-PP +of IN I-PP +a DT B-NP +$ $ I-NP +2.5 CD I-NP +million CD I-NP +reserve NN I-NP +to TO B-VP +be VB I-VP +taken VBN I-VP +against IN B-PP +potential JJ B-NP +losses NNS I-NP +on IN B-PP +a DT B-NP +contract NN I-NP +with IN B-PP +the DT B-NP +state NN I-NP +of IN B-PP +California NNP B-NP +. . O + +Revenue NN B-NP +is VBZ B-VP +estimated VBN I-VP +at IN B-PP +$ $ B-NP +18.6 CD I-NP +million CD I-NP +. . O + +The DT B-NP +maker NN I-NP +of IN B-PP +document NN B-NP +image NN I-NP +processing NN I-NP +equipment NN I-NP +said VBD B-VP +the DT B-NP +state NN I-NP +procurement NN I-NP +division NN I-NP +had VBD B-VP +declared VBN I-VP +FileNet NNP B-NP +in IN B-PP +default NN B-NP +on IN B-PP +its PRP$ B-NP +contract NN I-NP +with IN B-PP +the DT O +secretary NN B-NP +of IN B-PP +state NN B-NP +uniform NN B-NP +commercial JJ I-NP +code NN I-NP +division NN I-NP +. . O + +FileNet NNP B-NP +said VBD B-VP +it PRP B-NP +does VBZ B-VP +n't RB I-VP +believe VB I-VP +the DT B-NP +state NN I-NP +has VBZ B-VP +a DT B-NP +valid JJ I-NP +basis NN I-NP +of IN B-PP +default NN B-NP +and CC O +is VBZ B-VP +reviewing VBG I-VP +its PRP$ B-NP +legal JJ I-NP +rights NNS I-NP +under IN B-PP +the DT B-NP +contract NN I-NP +, , O +but CC O +said VBD B-VP +it PRP B-NP +ca MD B-VP +n't RB I-VP +predict VB I-VP +the DT B-NP +outcome NN I-NP +of IN B-PP +the DT B-NP +dispute NN I-NP +. . O + +The DT B-NP +disagreement NN I-NP +centers NNS B-VP +on IN B-PP +testing NN B-NP +deadlines NNS I-NP +and CC O +other JJ B-NP +issues NNS I-NP +involving VBG B-VP +a DT B-NP +FileNet NNP I-NP +system NN I-NP +installed VBN B-VP +earlier RBR B-ADVP +this DT B-NP +year NN I-NP +. . O + +State NN B-NP +officials NNS I-NP +could MD B-VP +n't RB I-VP +be VB I-VP +reached VBN I-VP +for IN B-PP +comment NN B-NP +late JJ B-NP +yesterday NN I-NP +. . O + +FileNet NNP B-NP +noted VBD B-VP +that IN B-SBAR +it PRP B-NP +had VBD B-VP +cash NN B-NP +and CC O +marketable JJ B-NP +securities NNS I-NP +totaling VBG B-VP +$ $ B-NP +22.5 CD I-NP +million CD I-NP +on IN B-PP +Sept. NNP B-NP +30 CD I-NP +, , O +and CC O +stockholders NNS B-NP +' POS B-NP +equity NN I-NP +is VBZ B-VP +$ $ B-NP +60.1 CD I-NP +million CD I-NP +. . O + +The DT B-NP +company NN I-NP +made VBD B-VP +the DT B-NP +announcement NN I-NP +after IN B-PP +the DT B-NP +close NN I-NP +of IN B-PP +the DT B-NP +markets NNS I-NP +, , O +where WRB B-ADVP +its PRP$ B-NP +stock NN I-NP +finished VBD B-VP +at IN B-PP +$ $ B-NP +10.75 CD I-NP +, , O +up IN B-ADVP +25 CD B-NP +cents NNS I-NP +, , O +in IN B-PP +over-the-counter JJ B-NP +trading NN I-NP +. . O + +Clinton NNP B-NP +Gas NNP I-NP +Systems NNP I-NP +Inc. NNP I-NP +said VBD B-VP +it PRP B-NP +received VBD B-VP +a DT B-NP +contract NN I-NP +from IN B-PP +Timken NNP B-NP +Co. NNP I-NP +, , O +Canton NNP B-NP +, , I-NP +Ohio NNP I-NP +, , O +to TO B-VP +manage VB I-VP +the DT B-NP +natural JJ I-NP +gas NN I-NP +purchasing VBG I-NP +, , I-NP +scheduling NN I-NP +and CC I-NP +transportation NN I-NP +activities NNS I-NP +for IN B-PP +Timken NNP B-NP +'s POS B-NP +seven CD I-NP +Ohio NNP I-NP +and CC I-NP +two CD I-NP +Pennsylvania NNP I-NP +plants NNS I-NP +. . O + +Clinton NNP B-NP +and CC I-NP +Timken NNP I-NP +agreed VBD B-VP +not RB O +to TO B-VP +disclose VB I-VP +the DT B-NP +value NN I-NP +of IN B-PP +the DT B-NP +contract NN I-NP +. . O + +Timken NNP B-NP +, , O +a DT B-NP +producer NN I-NP +of IN B-PP +bearings NNS B-NP +and CC O +specialty NN B-NP +steel NN I-NP +, , O +already RB B-ADVP +buys VBZ B-VP +gas NN B-NP +from IN B-PP +Clinton NNP B-NP +. . O + +Clinton NNP B-NP +said VBD B-VP +in IN B-PP +Columbus NNP B-NP +, , I-NP +Ohio NNP I-NP +, , O +that IN B-SBAR +its PRP$ B-NP +Clinton NNP I-NP +Gas NNP I-NP +Marketing NNP I-NP +unit NN I-NP +wants VBZ B-VP +to TO I-VP +line VB I-VP +up IN B-PRT +a DT B-NP +number NN I-NP +of IN B-PP +such JJ B-NP +gas NN I-NP +management NN I-NP +contracts NNS I-NP +. . O + +Manufacturers NNS B-NP +frequently RB B-ADVP +do VBP B-VP +n't RB I-VP +have VB I-VP +anyone NN B-NP +who WP B-NP +is VBZ B-VP +a DT B-NP +specialist NN I-NP +in IN B-PP +natural JJ B-NP +gas NN I-NP +, , O +Clinton NNP B-NP +said VBD B-VP +, , O +and CC O +a DT B-NP +specialist NN I-NP +such JJ B-PP +as IN I-PP +Clinton NNP B-NP +can MD B-VP +save VB I-VP +them PRP B-NP +substantial JJ B-NP +amounts NNS I-NP +of IN B-PP +money NN B-NP +. . O + +The DT B-NP +scene NN I-NP +opens VBZ B-VP +with IN B-PP +pinstripe-suited JJ B-NP +executives NNS I-NP +-- : O +Easterners NNS B-NP +, , O +obviously RB B-ADVP +-- : O +glued VBN B-VP +to TO B-PP +cellular JJ B-NP +phones NNS I-NP +and CC O +hightailing VBG B-VP +it PRP B-NP +out IN B-PP +of IN B-PP +town NN B-NP +in IN B-PP +chauffeur-driven JJ B-NP +limousines NNS I-NP +. . O + +`` `` O +The DT B-NP +carpetbaggers NNS I-NP +, , O +'' '' O +snorts VBZ B-VP +the DT B-NP +narrator NN I-NP +with IN B-PP +a DT B-NP +Texas NNP I-NP +twang NN I-NP +, , O +`` `` O +have VBP B-VP +packed VBN I-VP +their PRP$ B-NP +bags NNS I-NP +and CC O +went VBD B-VP +. . O +'' '' O + +But CC O +, , O +he PRP B-NP +continues VBZ B-VP +, , O +`` `` O +They PRP B-NP +'re VBP B-VP +forgetting VBG I-VP +we PRP B-NP +'re VBP B-VP +all DT O +Texans NNPS B-NP +. . O + +The DT B-NP +Lone NNP I-NP +Star NNP I-NP +is VBZ B-VP +on IN B-PP +the DT B-NP +rise NN I-NP +again RB B-ADVP +. . O +'' '' O + +As IN B-SBAR +the DT B-NP +music NN I-NP +swells NNS B-VP +, , O +viewers NNS B-NP +discover VBP B-VP +they PRP B-NP +'re VBP B-VP +watching VBG I-VP +a DT B-NP +commercial NN I-NP +for IN B-PP +Lone NNP B-NP +Star NNP I-NP +Beer NN I-NP +, , O +the DT B-NP +pride NN I-NP +of IN B-PP +Texas NNP B-NP +, , O +a DT B-NP +product NN I-NP +of IN B-PP +G. NNP B-NP +Heileman NNP I-NP +Brewing NNP I-NP +Co. NNP I-NP +, , O +a DT B-NP +La NNP I-NP +Crosse NNP I-NP +, , I-NP +Wis. NNP I-NP +, , I-NP +unit NN I-NP +of IN B-PP +Bond NNP B-NP +Corp NNP I-NP +. . O + +As IN B-SBAR +the DT B-NP +ad NN I-NP +'s POS B-NP +tone NN I-NP +implies VBZ B-VP +, , O +the DT B-NP +Texas NNP I-NP +spirit NN I-NP +is VBZ B-VP +pretty RB B-ADJP +xenophobic JJ I-ADJP +these DT B-NP +days NNS I-NP +, , O +and CC O +Lone NNP B-NP +Star NNP I-NP +is VBZ B-VP +n't RB O +alone RB B-ADVP +in IN B-PP +trying VBG B-VP +to TO I-VP +take VB I-VP +advantage NN B-NP +of IN B-PP +that DT B-NP +. . O + +From IN B-PP +Chevy NNP B-NP +trucks NNS I-NP +to TO B-PP +Lipton NNP B-NP +iced JJ I-NP +tea NN I-NP +to TO B-PP +a DT B-NP +host NN I-NP +of IN B-PP +battling VBG B-NP +banks NNS I-NP +, , O +the DT B-NP +state NN I-NP +has VBZ B-VP +been VBN I-VP +inundated VBN I-VP +with IN B-PP +broadcast NN B-NP +commercials NNS I-NP +and CC O +print NN B-NP +advertising NN I-NP +campaigns NNS I-NP +celebrating VBG B-VP +Texans NNPS B-NP +and CC O +castigating VBG B-VP +outsiders NNS B-NP +. . O + +While IN B-SBAR +advertisers NNS B-NP +have VBP B-VP +long RB I-VP +appealed VBN I-VP +to TO B-PP +Texans NNPS B-NP +' POS B-NP +state NN I-NP +pride NN I-NP +and CC I-NP +prejudices NNS I-NP +, , O +the DT B-NP +latest JJS I-NP +trend NN I-NP +has VBZ B-VP +been VBN I-VP +sparked VBN I-VP +, , O +in IN B-PP +part NN B-NP +, , O +by IN B-PP +the DT B-NP +state NN I-NP +'s POS B-NP +recent JJ I-NP +hard JJ I-NP +economic JJ I-NP +times NNS I-NP +. . O + +That DT B-NP +has VBZ B-VP +taken VBN I-VP +some DT B-NP +of IN B-PP +the DT B-NP +swagger NN I-NP +out RP B-PP +of IN B-PP +natives NNS B-NP +who WP B-NP +like VB B-VP +to TO I-VP +brag VB I-VP +that IN B-SBAR +Texas NNP B-NP +is VBZ B-VP +the DT B-NP +only JJ I-NP +state NN I-NP +that WDT B-NP +was VBD B-VP +once RB B-ADVP +a DT B-NP +nation NN I-NP +, , O +but CC O +it PRP B-NP +has VBZ B-VP +increased VBN I-VP +their PRP$ B-NP +legendary JJ I-NP +resentment NN I-NP +of IN B-PP +outsiders NNS B-NP +. . O + +In IN B-PP +the DT B-NP +past NN I-NP +, , O +writes VBZ B-VP +Houston NNP B-NP +Chronicle NNP I-NP +columnist NN I-NP +Jim NNP I-NP +Barlow NNP I-NP +, , O +outlanders NNS B-NP +were VBD B-VP +accepted VBN I-VP +only RB B-PP +after IN I-PP +passing VBG B-VP +a DT B-NP +series NN I-NP +of IN B-PP +tests NNS B-NP +to TO B-VP +prove VB I-VP +they PRP B-NP +had VBD B-VP +the DT B-NP +`` `` I-NP +right NN I-NP +'' '' I-NP +Texas NNP I-NP +attitudes NNS I-NP +and CC O +`` `` O +of IN B-PP +course NN B-NP +they PRP B-NP +had VBD B-VP +to TO I-VP +be VB I-VP +dipped VBN I-VP +for IN B-PP +parasites NNS B-NP +. . O +'' '' O + +There EX B-NP +is VBZ B-VP +no DT B-NP +small JJ I-NP +irony NN I-NP +in IN B-PP +the DT B-NP +fact NN I-NP +that IN B-SBAR +some DT B-NP +of IN B-PP +the DT B-NP +most-jingoistic JJ I-NP +advertising NN I-NP +comes VBZ B-VP +courtesy NN B-NP +of IN B-PP +-- : O +you PRP B-NP +guessed VBD B-VP +it PRP B-NP +-- : O +outsiders NNS B-NP +. . O + +Lone NNP B-NP +Star NNP I-NP +'s POS B-NP +Bond NNP I-NP +Corp. NNP I-NP +parent NN I-NP +, , O +for IN B-PP +instance NN B-NP +, , O +hails VBZ B-VP +from IN B-PP +Perth NNP B-NP +, , O +Australia NNP B-NP +. . O + +North NNP B-NP +Carolinians NNPS I-NP +, , O +New NNP B-NP +Yorkers NNPS I-NP +, , O +Californians NNS B-NP +, , O +Chicagoans NNPS B-NP +and CC O +Ohioans NNPS B-NP +own JJ B-VP +Texas NNP B-NP +banks NNS I-NP +. . O + +All DT B-NP +kinds NNS I-NP +of IN B-PP +landmark NN B-NP +Texas NNP I-NP +real JJ I-NP +estate NN I-NP +has VBZ B-VP +been VBN I-VP +snapped VBN I-VP +up IN B-PRT +by IN B-PP +out-of-staters NNS B-NP +. . O + +Even RB B-NP +the DT I-NP +beloved JJ I-NP +Dallas NNP I-NP +Cowboys NNPS I-NP +were VBD B-VP +bought VBN I-VP +by IN B-PP +an DT B-NP +Arkansas NNP I-NP +oil NN I-NP +man NN I-NP +. . O + +`` `` O +Texas NNP B-NP +has VBZ B-VP +lost VBN I-VP +its PRP$ B-NP +distinctiveness NN I-NP +, , O +leaving VBG B-VP +Texans NNPS B-NP +with IN B-PP +a DT B-NP +hunger NN I-NP +to TO B-VP +feel VB I-VP +proud JJ B-ADJP +about IN B-PP +themselves PRP B-NP +, , O +'' '' O +says VBZ B-VP +Stephen NNP B-NP +Klineberg NNP I-NP +, , O +a DT B-NP +sociology NN I-NP +professor NN I-NP +at IN B-PP +Rice NNP B-NP +University NNP I-NP +, , O +Houston NNP B-NP +. . O + +`` `` O +This DT B-NP +plays VBZ B-VP +right NN B-PP +into IN I-PP +the DT B-NP +hands NNS I-NP +of IN B-PP +the DT B-NP +advertising NN I-NP +agencies NNS I-NP +. . O +'' '' O + +For IN B-PP +example NN B-NP +, , O +the DT B-NP +iced-tea NN I-NP +radio NN I-NP +campaign NN I-NP +for IN B-PP +Thomas NNP B-NP +J. NNP I-NP +Lipton NNP I-NP +Co. NNP I-NP +, , O +an DT B-NP +Englewood NNP I-NP +Cliffs NNP I-NP +, , I-NP +N.J. NNP I-NP +, , I-NP +unit NN I-NP +of IN B-PP +Anglo-Dutch NNP B-NP +Unilever NNP I-NP +Group NNP I-NP +, , O +emphatically RB B-VP +proclaims VBZ I-VP +: : O +`` `` O +Real JJ B-NP +Texans NNPS I-NP +do VBP B-VP +not RB I-VP +wear VB I-VP +dock-siders NNS B-NP +-- : O +ever RB B-ADVP +. . O + +Real JJ B-NP +Texans NNPS I-NP +do VBP B-VP +n't RB I-VP +play VB I-VP +paddleball NN B-NP +, , O +at IN B-ADVP +least JJS I-ADVP +I PRP B-NP +hope VBP B-VP +not RB O +. . O + +This DT B-NP +is VBZ B-VP +football NN B-NP +country NN I-NP +. . O + +And CC O +another DT B-NP +thing NN I-NP +-- : O +real JJ B-NP +Texans NNPS I-NP +drink NN B-VP +Lipton NNP B-NP +iced JJ I-NP +tea NN I-NP +. . O +'' '' O + +In IN B-PP +developing VBG B-VP +that DT B-NP +theme NN I-NP +at IN B-PP +Interpublic NNP B-NP +Group NNP I-NP +of IN B-PP +Cos NNP B-NP +. . I-NP +' '' I-NP +Lintas NNP I-NP +: : O +New NNP B-NP +York NNP I-NP +unit NN I-NP +, , O +account NN B-NP +supervisor NN I-NP +Lisa NNP I-NP +Buksbaum NNP I-NP +says VBZ B-VP +she PRP B-NP +made VBD B-VP +a DT B-NP +`` `` I-NP +couple NN I-NP +of IN B-PP +phone NN B-NP +calls NNS I-NP +'' '' O +to TO B-PP +Dallas NNP B-NP +ad NN I-NP +friends NNS I-NP +and CC O +reported VBD B-VP +her PRP$ B-NP +`` `` I-NP +findings NNS I-NP +'' '' O +to TO B-PP +a DT B-NP +team NN I-NP +of IN B-PP +writers NNS B-NP +. . O + +Her PRP$ B-NP +findings NNS I-NP +? . O + +`` `` O +You PRP B-NP +know VBP B-VP +, , O +'' '' O +she PRP B-NP +says VBZ B-VP +, , O +`` `` O +stereotypical JJ B-NP +stuff NN I-NP +like IN B-PP +armadillos NNS B-NP +, , I-NP +cowboys NNS I-NP +and CC I-NP +football NN I-NP +. . O +'' '' O + +Not RB B-NP +exactly RB I-NP +sophisticated JJ I-NP +market NN I-NP +research NN I-NP +, , O +but CC O +who WP B-NP +cares VBZ B-VP +as RB B-ADVP +long RB I-ADVP +as IN B-SBAR +the DT B-NP +campaigns NNS I-NP +work VBP B-VP +. . O + +And CC O +ad NN B-NP +agencies NNS I-NP +insist VBP B-VP +that IN B-SBAR +they PRP B-NP +do VBP B-VP +. . O + +Stan NNP B-NP +Richards NNP I-NP +of IN B-PP +Richards NNP B-NP +Group NNP I-NP +Inc. NNP I-NP +, , O +Dallas NNP B-NP +, , O +tells VBZ B-VP +of IN B-PP +the DT B-NP +Texan NNP I-NP +who WP B-NP +saw VBD B-VP +the DT B-NP +agency NN I-NP +'s POS B-NP +tear-jerking JJ I-NP +commercial NN I-NP +for IN B-PP +First NNP B-NP +Gibraltar NNP I-NP +Bank NNP I-NP +F.S.B. NNP I-NP +-- : O +complete JJ B-ADJP +with IN B-PP +the DT B-NP +state NN I-NP +'s POS B-NP +anthem NN I-NP +-- : O +and CC O +promptly RB B-VP +invested VBN I-VP +$ $ B-NP +100,000 CD I-NP +in IN B-PP +the DT B-NP +thrift NN I-NP +'s POS B-NP +CDs NNS I-NP +. . O + +Never RB B-ADVP +mind NN B-VP +that IN B-SBAR +First NNP B-NP +Gibraltar NNP I-NP +is VBZ B-VP +one CD B-NP +of IN B-PP +the DT B-NP +failed VBN I-NP +Texas NNP I-NP +thrifts NNS I-NP +taken VBN B-VP +over IN B-PRT +by IN B-PP +outsiders NNS B-NP +-- : O +in IN B-PP +this DT B-NP +case NN I-NP +, , O +an DT B-NP +investor NN I-NP +group NN I-NP +headed VBN B-VP +by IN B-PP +New NNP B-NP +York NNP I-NP +financier NN I-NP +Ronald NNP I-NP +Perelman NNP I-NP +. . O + +The DT B-NP +North NNP I-NP +Texas NNP I-NP +Chevy NNP I-NP +Dealers NNS I-NP +recently RB B-ADVP +had VBD B-VP +a DT B-NP +record NN I-NP +sales NNS I-NP +month NN I-NP +after IN B-PP +the DT B-NP +debut NN I-NP +of IN B-PP +ad NN B-NP +campaign NN I-NP +that IN B-NP +thumbs NNS B-VP +its PRP$ B-NP +nose NN I-NP +at IN B-PP +elite NN B-NP +Easterners NNS I-NP +. . O + +And CC O +deposits NNS B-NP +at IN B-PP +NCNB NNP B-NP +Texas NNP I-NP +National NNP I-NP +Bank NNP I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +NCNB NNP B-NP +Corp. NNP I-NP +, , O +Charlotte NNP B-NP +, , O +N.C. NNP B-NP +, , O +have VBP B-VP +increased VBN I-VP +$ $ B-NP +2 CD I-NP +billion CD I-NP +since IN B-PP +last JJ B-NP +year NN I-NP +after IN B-PP +heavy JJ B-NP +advertising NN I-NP +stressing VBG B-VP +commitment NN B-NP +to TO B-PP +Texas NNP B-NP +. . O + +`` `` O +Obviously RB B-ADVP +, , O +pride NN B-NP +sells VBZ B-VP +in IN B-PP +Texas NNP B-NP +, , O +'' '' O +says VBZ B-VP +a DT B-NP +spokeswoman NN I-NP +for IN B-PP +Bozell NNP B-NP +Inc. NNP I-NP +, , O +Omaha NNP B-NP +, , O +Neb. NNP B-NP +, , O +which WDT B-NP +represents VBZ B-VP + +The DT B-NP +ad NN I-NP +campaigns NNS I-NP +usually RB B-ADVP +follow VBP B-VP +one CD B-NP +of IN B-PP +three CD B-NP +tracks VBZ I-NP +-- : O +stressing VBG B-VP +the DT B-NP +company NN I-NP +'s POS B-NP +` `` I-NP +Texasness NN I-NP +, , O +' '' O +pointing VBG B-VP +out RP B-PRT +the IN B-NP +competition NN I-NP +'s POS B-NP +lack NN I-NP +thereof RB B-ADVP +, , O +or CC O +trying VBG B-VP +to TO I-VP +be VB I-VP +more JJR B-ADJP +Texan NNP I-ADJP +than IN B-PP +Texans NNPS B-NP +. . O + +Ford NNP B-NP +trucks NNS I-NP +may MD B-VP +outsell VB I-VP +Chevy NNP B-NP +trucks NNS I-NP +in IN B-PP +places NNS B-NP +like IN B-PP +`` `` O +Connecticut NNP B-NP +and CC O +Long NNP B-NP +Island NNP I-NP +, , O +'' '' O +sniffs VBZ B-VP +a DT B-NP +commercial NN I-NP +for IN B-PP +Chevrolet NNP B-NP +, , O +a DT B-NP +division NN I-NP +of IN B-PP +General NNP B-NP +Motors NNPS I-NP +Corp NNP I-NP +. . O + +The DT B-NP +commercial NN I-NP +, , O +created VBN B-VP +by IN B-PP +Bateman NNP B-NP +, , I-NP +Bryan NNP I-NP +& CC I-NP +Galles NNP I-NP +Inc. NNP I-NP +, , O +of IN B-PP +Dallas NNP B-NP +, , O +adds VBZ B-VP +derisively RB B-ADVP +: : O +`` `` O +I PRP B-NP +bet VBP B-VP +it PRP B-NP +takes VBZ B-VP +a DT B-NP +real JJ I-NP +tough JJ I-NP +truck NN I-NP +to TO B-VP +haul VB I-VP +your PRP$ B-NP +Ivy NNP I-NP +League NNP I-NP +buddies NNS I-NP +to TO B-PP +the DT B-NP +yacht NN I-NP +club NN I-NP +. . O +'' '' O + +Because IN B-SBAR +they PRP B-NP +want VBP B-VP +a DT B-NP +truck NN I-NP +that WDT B-NP +is VBZ B-VP +`` `` O +Texas NNP B-ADJP +tough JJ I-ADJP +, , O +'' '' O +the DT B-NP +commercial NN I-NP +concludes VBZ B-VP +, , O +`` `` O +Texans NNPS B-NP +drive NN B-VP +Chevy NNP B-NP +. . O +'' '' O + +J.C. NNP B-NP +Penney NNP I-NP +Co. NNP I-NP +, , O +which WDT B-NP +relocated VBD B-VP +from IN B-PP +New NNP B-NP +York NNP I-NP +to TO B-PP +suburban JJ B-NP +Dallas NNP I-NP +two CD B-NP +years NNS I-NP +ago RB B-ADVP +, , O +gently RB B-VP +wraps VBZ I-VP +itself PRP B-NP +in IN B-PP +Texas NNP B-NP +pride NN I-NP +through IN B-PP +a DT B-NP +full-page JJ I-NP +magazine NN I-NP +ad NN I-NP +: : O +`` `` O +Taking VBG B-VP +the DT B-NP +long-range JJ I-NP +view NN I-NP +to TO B-VP +conserve VB I-VP +what WP B-NP +is VBZ B-VP +of IN B-PP +value NN B-NP +to TO B-PP +future NN B-NP +generations NNS I-NP +is VBZ B-VP +part NN B-NP +of IN B-PP +the DT B-NP +Lone NNP I-NP +Star NNP I-NP +lifestyle NN I-NP +, , O +'' '' O +the DT B-NP +ad NN I-NP +reads VBZ B-VP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +part NN B-NP +of IN B-PP +our PRP$ B-NP +style NN I-NP +, , O +too RB B-ADVP +. . O +'' '' O + +According VBG B-PP +to TO B-PP +several JJ B-NP +ad-agency NN I-NP +sources NNS I-NP +, , O +newcomers NNS B-NP +to TO B-PP +the DT B-NP +Texas NNP I-NP +banking NN I-NP +market NN I-NP +are VBP B-VP +spending VBG I-VP +a DT B-NP +combined VBN I-NP +$ $ I-NP +50 CD I-NP +million CD I-NP +this DT B-NP +year NN I-NP +to TO B-VP +woo VB I-VP +Texans NNPS B-NP +. . O + +Meanwhile RB B-ADVP +, , O +surviving VBG B-NP +Texas NNP I-NP +banking NN I-NP +institutions NNS I-NP +are VBP B-VP +busily RB I-VP +pitching VBG I-VP +themselves PRP B-NP +as IN B-PP +the DT B-NP +only JJ I-NP +lenders NNS I-NP +who WP B-NP +truly RB B-ADVP +care VBP B-VP +about IN B-PP +the DT B-NP +state NN I-NP +. . O + +The DT B-NP +most-strident JJ I-NP +anti-outsider NN I-NP +sentiment NN I-NP +among IN B-PP +bankers NNS B-NP +comes VBZ B-VP +from IN B-PP +the DT B-NP +Independent NNP I-NP +Bankers NNP I-NP +Association NNP I-NP +of IN B-PP +Texas NNP B-NP +, , O +although IN B-SBAR +it PRP B-NP +'s VBZ B-VP +hard JJ B-ADJP +to TO B-VP +tell VB I-VP +from IN B-PP +previews NNS B-NP +of IN B-PP +the DT O +$ $ O +5 NN O +million CD O +`` `` O +The DT B-NP +I PRP I-NP +'s NNS I-NP +of IN B-PP +Texas NNP B-NP +'' '' B-NP +TV NN I-NP +campaign NN I-NP +. . O + +Commercials NNS B-NP +will MD B-VP +highlight VB I-VP +heart-rending JJ B-NP +scenes NNS I-NP +of IN B-PP +Texas NNP B-NP +and CC O +chest-swelling JJ B-NP +, , I-NP +ain't-it-great-to-be-a-Texan JJ I-NP +music NN I-NP +. . O + +Supporting VBG B-NP +banks NNS I-NP +will MD B-VP +sign VB I-VP +a DT B-NP +`` `` I-NP +Texas NNP I-NP +Declaration NNP I-NP +of IN B-PP +Independents NNPS B-NP +. . O +'' '' O + +But CC O +in IN B-PP +introductory JJ B-NP +material NN I-NP +for IN B-PP +the DT B-NP +campaign NN I-NP +, , O +the DT B-NP +trade NN I-NP +group NN I-NP +urges VBZ B-VP +members NNS B-NP +to TO B-VP +`` `` I-VP +arm NN I-VP +'' '' O +for IN B-PP +a DT B-NP +`` `` I-NP +revolution NN I-NP +'' '' O +against IN B-PP +big JJ B-NP +, , I-NP +out-of-state JJ I-NP +bank-holding JJ I-NP +companies NNS I-NP +. . O + +A DT B-NP +video NN I-NP +sent VBD B-VP +to TO B-PP +association NN B-NP +members NNS I-NP +, , O +featuring VBG B-VP +shots NNS B-NP +of IN B-PP +the DT B-NP +Alamo NNP I-NP +, , O +cowboys NNS B-NP +, , O +fajitas NNS B-NP +and CC O +a DT B-NP +statue NN I-NP +of IN B-PP +Sam NNP B-NP +Houston NNP I-NP +, , O +does VBZ B-VP +n't RB I-VP +mince VB I-VP +words NNS B-NP +. . O + +`` `` O +Texans NNPS B-NP +can MD B-VP +sniff VB I-VP +a DT B-NP +phony JJ I-NP +a DT B-NP +mile NN I-NP +away RB B-ADVP +, , O +'' '' O +the DT B-NP +narrator NN I-NP +warns VBZ B-VP +outsiders NNS B-NP +. . O + +`` `` O +So RB O +, , O +do VBP B-VP +n't RB I-VP +come VB I-VP +and CC O +try VB B-VP +to TO I-VP +con VB I-VP +us PRP B-NP +with IN B-PP +a DT O +howdy UH B-INTJ +y'all PRP B-NP +or CC O +a DT B-NP +cowboy NN I-NP +hat NN I-NP +. . O +'' '' O + +Young NNP B-NP +& CC I-NP +Rubicam NNP I-NP +'s POS B-NP +Pact NNP I-NP + +Young NNP B-NP +& CC I-NP +Rubicam NNP I-NP +, , O +fighting VBG B-VP +charges NNS B-NP +that IN B-SBAR +it PRP B-NP +bribed VBD B-VP +Jamaican JJ B-NP +officials NNS I-NP +to TO B-VP +win VB I-VP +the DT B-NP +Jamaica NNP I-NP +Tourist NNP I-NP +Board NNP I-NP +ad NN I-NP +account NN I-NP +in IN B-PP +1981 CD B-NP +, , O +said VBD B-VP +it PRP B-NP +will MD B-VP +no RB I-VP +longer RB I-VP +create VB I-VP +the DT B-NP +tourist NN I-NP +board NN I-NP +'s POS B-NP +advertising NN I-NP +. . O + +In IN B-PP +a DT B-NP +statement NN I-NP +, , O +Alex NNP B-NP +Kroll NNP I-NP +, , O +Young NNP B-NP +& CC I-NP +Rubicam NNP I-NP +'s POS B-NP +chairman NN I-NP +, , O +said VBD B-VP +`` `` O +under IN B-PP +the DT B-NP +present JJ I-NP +circumstances NNS I-NP +-LCB- ( O +we PRP B-NP +-RCB- ) O +have VBP B-VP +agreed VBN I-VP +that IN B-SBAR +it PRP B-NP +is VBZ B-VP +prudent JJ B-ADJP +to TO B-VP +discontinue VB I-VP +that DT B-NP +contract NN I-NP +. . O +'' '' O + +Young NNP B-NP +& CC I-NP +Rubicam NNP I-NP +has VBZ B-VP +pleaded VBN I-VP +innocent JJ B-ADJP +to TO B-PP +the DT B-NP +charges NNS I-NP +. . O + +The DT B-NP +board NN I-NP +would MD B-VP +n't RB I-VP +comment VB I-VP +on IN B-PP +its PRP$ B-NP +impending JJ I-NP +search NN I-NP +for IN B-PP +a DT B-NP +new JJ I-NP +ad NN I-NP +agency NN I-NP +to TO B-VP +handle VB I-VP +its PRP$ B-NP +estimated VBN I-NP +$ $ I-NP +5 NN I-NP +million CD I-NP +to TO I-NP +$ $ I-NP +6 CD I-NP +million CD I-NP +account NN I-NP +. . O + +Ad NN B-NP +Notes NNS I-NP +... : O +. . O + +NEW JJ B-NP +ACCOUNT NN I-NP +: : O + +Sunshine NNP B-NP +Biscuits NNP I-NP +Inc. NNP I-NP +, , O +Woodbridge NNP B-NP +, , O +N.J. NNP B-NP +, , O +awarded VBD B-VP +its PRP$ B-NP +estimated VBN I-NP +$ $ I-NP +5 NN I-NP +million CD I-NP +account NN I-NP +to TO B-PP +Waring NNP B-NP +& CC I-NP +LaRosa NNP I-NP +, , O +New NNP B-NP +York NNP I-NP +. . O + +The DT B-NP +account NN I-NP +had VBD B-VP +been VBN I-VP +at IN B-PP +Della NNP B-NP +Femina NNP I-NP +McNamee NNP I-NP +WCRS NNP I-NP +, , O +New NNP B-NP +York NNP I-NP +. . O + +MEDIA NNP B-NP +POLICY NNP I-NP +: : O + +MacNamara NNP B-NP +Clapp NNP I-NP +& CC I-NP +Klein NNP I-NP +, , O +a DT B-NP +small JJ I-NP +New NNP I-NP +York NNP I-NP +shop NN I-NP +, , O +is VBZ B-VP +asking VBG I-VP +magazine NN B-NP +ad NN I-NP +representatives NNS I-NP +to TO B-VP +tell VB I-VP +it PRP B-NP +when WRB B-ADVP +major JJ B-NP +advertising NN I-NP +inserts NNS I-NP +will MD B-VP +run VB I-VP +in IN B-PP +their PRP$ B-NP +publications NNS I-NP +. . O + +It PRP B-NP +says VBZ B-VP +it PRP B-NP +may MD B-VP +pull VB I-VP +its PRP$ B-NP +clients NNS I-NP +' POS B-NP +ads NNS I-NP +from IN B-PP +those DT B-NP +magazines NNS I-NP +. . O + +COKE NNP B-NP +ADS NNPS I-NP +: : O + +Coca-Cola NNP B-NP +Co. NNP I-NP +said VBD B-VP +it PRP B-NP +produced VBD B-VP +a DT B-NP +new JJ I-NP +version NN I-NP +of IN B-PP +its PRP$ O +1971 CD O +`` `` O +I PRP B-NP +'d MD B-VP +like VB I-VP +to TO I-VP +teach VB I-VP +the DT B-NP +world NN I-NP +to TO B-VP +sing VB I-VP +'' '' B-NP +commercial JJ I-NP +. . O + +The DT B-NP +ad NN I-NP +is VBZ B-VP +part NN B-NP +of IN B-PP +Classic NNP B-NP +Coke NNP I-NP +'s POS B-NP +1990 CD I-NP +ad NN I-NP +campaign NN I-NP +, , O +with IN B-PP +the DT B-NP +tag NN I-NP +line NN I-NP +, , O +`` `` O +Ca MD B-VP +n't RB I-VP +beat VB I-VP +the DT B-NP +Real NNP I-NP +Thing NNP I-NP +. . O +'' '' O + +Basketball NN B-NP +star NN I-NP +Michael NNP I-NP +Jordan NNP I-NP +and CC O +singer NN B-NP +Randy NNP I-NP +Travis NNP I-NP +have VBP B-VP +also RB I-VP +agreed VBN I-VP +to TO I-VP +appear VB I-VP +in IN B-PP +ads NNS B-NP +. . O + +Dell NNP B-NP +Computer NNP I-NP +Corp. NNP I-NP +, , O +squeezed VBN B-VP +by IN B-PP +price NN B-NP +pressure NN I-NP +from IN B-PP +its PRP$ B-NP +larger JJR I-NP +competitors NNS I-NP +and CC O +delays NNS B-NP +in IN B-PP +its PRP$ B-NP +new JJ I-NP +product NN I-NP +line NN I-NP +, , O +said VBD B-VP +its PRP$ B-NP +per-share JJ I-NP +earnings NNS I-NP +for IN B-PP +fiscal JJ B-NP +1990 CD I-NP +will MD B-VP +be VB I-VP +half VB B-NP +its PRP$ I-NP +previous JJ I-NP +forecasts NNS I-NP +. . O + +Although IN B-SBAR +the DT B-NP +personal JJ I-NP +computer NN I-NP +maker NN I-NP +said VBD B-VP +it PRP B-NP +expects VBZ B-VP +revenue NN B-NP +to TO B-VP +meet VB I-VP +or CC I-VP +exceed VB I-VP +previous JJ B-NP +projections NNS I-NP +of IN B-PP +$ $ B-NP +385 CD I-NP +million CD I-NP +for IN B-PP +the DT B-NP +year NN I-NP +ending VBG B-VP +Jan. NNP B-NP +28 CD I-NP +, , I-NP +1990 CD I-NP +, , O +earnings NNS B-NP +are VBP B-VP +expected VBN I-VP +to TO I-VP +be VB I-VP +25 CD B-NP +cents NNS I-NP +to TO O +35 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +down RB B-ADVP +from IN B-PP +previous JJ B-NP +estimates NNS I-NP +of IN B-PP +50 CD B-NP +cents NNS I-NP +to TO O +60 CD B-NP +cents NNS I-NP +. . O + +Earnings NNS B-NP +for IN B-PP +fiscal JJ B-NP +1989 CD I-NP +were VBD B-VP +$ $ B-NP +14.4 CD I-NP +million CD I-NP +, , O +or CC O +80 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +sales NNS B-NP +of IN B-PP +$ $ B-NP +257.8 CD I-NP +million CD I-NP +. . O + +Results NNS B-NP +for IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +ending VBG B-VP +Oct. NNP B-NP +31 CD I-NP +, , O +are VBP B-VP +expected VBN I-VP +to TO I-VP +be VB I-VP +released VBN I-VP +the DT B-NP +third JJ I-NP +week NN I-NP +of IN B-PP +November NNP B-NP +, , O +according VBG B-PP +to TO B-PP +Michael NNP B-NP +Dell NNP I-NP +, , O +chairman NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +. . O + +Mr. NNP B-NP +Dell NNP I-NP +said VBD B-VP +he PRP B-NP +does VBZ B-VP +n't RB I-VP +expect VB I-VP +a DT B-NP +loss NN I-NP +in IN B-PP +either DT B-NP +the DT I-NP +third JJ I-NP +or CC I-NP +fourth JJ I-NP +quarter NN I-NP +, , O +but CC O +said VBD B-VP +third-quarter JJ B-NP +earnings NNS I-NP +could MD B-VP +be VB I-VP +as RB B-ADJP +low JJ I-ADJP +as IN B-PP +four CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +In IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +last JJ B-NP +year NN I-NP +, , O +Dell NNP B-NP +had VBD B-VP +net JJ B-NP +income NN I-NP +of IN B-PP +$ $ B-NP +5 NN I-NP +million CD I-NP +, , O +or CC O +26 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +sales NNS B-NP +of IN B-PP +$ $ B-NP +75.2 CD I-NP +million CD I-NP +. . O + +Mr. NNP B-NP +Dell NNP I-NP +attributed VBD B-VP +the DT B-NP +earnings NNS I-NP +slide NN I-NP +to TO B-PP +new JJ B-NP +product NN I-NP +delays NNS I-NP +, , O +such JJ B-PP +as IN I-PP +a DT B-NP +laptop NN I-NP +scheduled VBN B-VP +for IN B-PP +September NNP B-NP +that WDT B-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +introduced VBN I-VP +until IN B-PP +early JJ B-NP +November NNP I-NP +. . O + +Some DT B-NP +delays NNS I-NP +have VBP B-VP +been VBN I-VP +caused VBN I-VP +by IN B-PP +a DT B-NP +shortage NN I-NP +of IN B-PP +micoprocessors NNS B-NP +-- : O +notably RB O +Intel NNP B-NP +Corp. NNP I-NP +'s POS B-NP +newest JJS I-NP +chip NN I-NP +, , O +the DT B-NP +486 CD I-NP +-- : O +but CC O +others NNS B-NP +apparently RB B-ADVP +have VBP B-VP +been VBN I-VP +caused VBN I-VP +by IN B-PP +Dell NNP B-NP +'s POS B-NP +explosive JJ O +growth NN O +and CC O +thinly RB B-ADJP +stretched VBD I-ADJP +resources NNS B-NP +. . O + +`` `` O +They PRP B-NP +'ve VBP B-VP +got VBD I-VP +a DT B-NP +lot NN I-NP +of IN B-PP +different JJ B-NP +balls NNS I-NP +in IN B-PP +the DT B-NP +air NN I-NP +at IN B-PP +the DT B-NP +same JJ I-NP +time NN I-NP +, , O +'' '' O +observes VBZ B-VP +Jim NNP B-NP +Poyner NNP I-NP +, , O +a DT B-NP +computer NN I-NP +securities NNS I-NP +analyst NN I-NP +with IN B-PP +Dallas-based JJ B-NP +William NNP I-NP +K. NNP I-NP +Woodruff NNP I-NP +& CC I-NP +Co NNP I-NP +. . O + +Mr. NNP B-NP +Dell NNP I-NP +, , O +meanwhile RB B-ADVP +, , O +concedes VBZ B-VP +the DT B-NP +company NN I-NP +was VBD B-VP +`` `` O +definitely RB B-ADVP +too RB B-ADJP +optimistic JJ I-ADJP +'' '' O +in IN B-PP +its PRP$ B-NP +expectations NNS I-NP +. . O + +Product NN B-NP +delays NNS I-NP +, , O +however RB B-ADVP +, , O +have VBP B-VP +left VBN I-VP +Dell NNP B-NP +buffeted VBN B-VP +by IN B-PP +harsher JJR B-NP +competition NN I-NP +in IN B-PP +its PRP$ B-NP +bread-and-butter JJ I-NP +line NN I-NP +of IN B-PP +desktop NN B-NP +computers NNS I-NP +, , O +as IN B-SBAR +powerhouse NN B-NP +competitors NNS I-NP +Compaq NNP B-NP +Computer NNP I-NP +Corp. NNP I-NP +and CC O +International NNP B-NP +Business NNP I-NP +Machines NNP I-NP +Corp. NNP I-NP +price VB B-VP +their PRP$ B-NP +PCs NNS I-NP +more RBR B-ADVP +aggressively RB I-ADVP +. . O + +The DT B-NP +result NN I-NP +has VBZ B-VP +been VBN I-VP +thinner JJR B-NP +margins NNS I-NP +, , O +which WDT B-NP +have VBP B-VP +been VBN I-VP +further RB I-VP +eroded VBN I-VP +by IN B-PP +an DT B-NP +ambitious JJ I-NP +research NN I-NP +and CC I-NP +development NN I-NP +effort NN I-NP +and CC O +rapid JJ B-NP +overseas JJ I-NP +expansion NN I-NP +. . O + +Analyst NNP B-NP +James NNP I-NP +Weil NNP I-NP +of IN B-PP +the DT B-NP +Soundview NNP I-NP +Financial NNP I-NP +Group NNP I-NP +believes VBZ B-VP +Dell NNP B-NP +'s POS B-NP +response NN I-NP +has VBZ B-VP +been VBN I-VP +to TO B-VP +place VB I-VP +increased VBN B-NP +emphasis NN I-NP +on IN B-PP +product NN B-NP +quality NN I-NP +, , O +`` `` O +in IN B-PP +an DT B-NP +effort NN I-NP +to TO B-VP +rise VB I-VP +above IN B-PP +some DT B-NP +of IN B-PP +that DT B-NP +price NN I-NP +pressure NN I-NP +. . O +'' '' O + +But CC O +that DT B-NP +has VBZ B-VP +been VBN I-VP +the DT B-NP +key JJ I-NP +to TO B-PP +Compaq NNP B-NP +'s POS B-NP +success NN I-NP +, , O +he PRP B-NP +adds VBZ B-VP +, , O +whereas IN B-SBAR +Dell NNP B-NP +carved VBD B-VP +out IN B-PRT +its PRP$ B-NP +market NN I-NP +niche NN I-NP +as IN B-PP +a DT B-NP +direct JJ I-NP +seller NN I-NP +of IN B-PP +low-cost JJ B-NP +but CC I-NP +reliable JJ I-NP +computers NNS I-NP +-- : O +and CC O +it PRP B-NP +might MD B-VP +be VB I-VP +too RB B-ADJP +late RB I-ADJP +in IN B-PP +the DT B-NP +game NN I-NP +for IN B-PP +a DT B-NP +shift NN I-NP +in IN B-PP +strategy NN B-NP +. . O + +In IN B-PP +national JJ B-NP +over-the-counter JJ I-NP +trading NN I-NP +, , O +Dell NNP B-NP +closed VBD B-VP +yesterday NN B-NP +at IN B-PP +$ $ B-NP +6 CD I-NP +a DT B-NP +share NN I-NP +, , O +down RB B-ADVP +87.5 CD B-NP +cents NNS I-NP +. . O + +TransAtlantic NNP B-NP +Holdings NNP I-NP +PLC NNP I-NP +, , O +a DT B-NP +British-based JJ I-NP +, , I-NP +South JJ I-NP +African-controlled JJ I-NP +financial JJ I-NP +services NNS I-NP +investment NN I-NP +group NN I-NP +, , O +and CC O +France NNP B-NP +'s POS B-NP +Societe NNP I-NP +Centrale NNP I-NP +Union NNP I-NP +des NNP I-NP +Assurances NNP I-NP +de FW I-NP +Paris NNP I-NP +reached VBD B-VP +an DT B-NP +accord NN I-NP +effectively RB B-VP +reducing VBG I-VP +chances NNS B-NP +of IN B-PP +an DT B-NP +unfriendly JJ I-NP +takeover NN I-NP +for IN B-PP +Sun NNP B-NP +Life NNP I-NP +Assurance NNP I-NP +Society NNP I-NP +PLC NNP I-NP +. . O + +In IN B-PP +a DT B-NP +joint JJ I-NP +statement NN I-NP +, , O +the DT B-NP +two CD I-NP +companies NNS I-NP +, , O +whose WP$ B-NP +combined VBN I-NP +holdings NNS I-NP +equal JJ B-VP +52.7 CD B-NP +% NN I-NP +of IN B-PP +Sun NNP B-NP +Life NNP I-NP +'s POS B-NP +ordinary JJ I-NP +shares NNS I-NP +, , O +said VBD B-VP +their PRP$ B-NP +agreement NN I-NP +is VBZ B-VP +aimed VBN I-VP +at IN B-PP +reducing VBG B-VP +`` `` O +the DT B-NP +uncertainty NN I-NP +and CC I-NP +instability NN I-NP +for IN B-PP +Sun NNP B-NP +Life NNP I-NP +that WDT B-NP +has VBZ B-VP +resulted VBN I-VP +from IN B-PP +two CD B-NP +major JJ I-NP +shareholders NNS I-NP +owning VBG B-VP +'' '' O +a DT B-NP +controlling VBG I-NP +interest NN I-NP +in IN B-PP +the DT B-NP +company NN I-NP +. . O + +TransAtlantic NNP B-NP +, , O +whose WP$ B-NP +Transol NNP I-NP +Investments NNP I-NP +Ltd. NNP I-NP +unit NN I-NP +owns VBZ B-VP +the DT B-NP +largest JJS I-NP +minority NN I-NP +stake NN I-NP +in IN B-PP +Sun NNP B-NP +Life NNP I-NP +, , O +has VBZ B-VP +agreed VBN I-VP +not RB O +to TO B-VP +make VB I-VP +a DT B-NP +takeover NN I-NP +bid NN I-NP +for IN B-PP +the DT B-NP +British JJ I-NP +life NN I-NP +insurer NN I-NP +without IN B-PP +the DT B-NP +prior JJ I-NP +consent NN I-NP +of IN B-PP +the DT B-NP +French JJ I-NP +company NN I-NP +, , O +known VBN B-VP +as IN B-PP +UAP NNP B-NP +. . O + +In IN B-PP +return NN B-NP +, , O +the DT B-NP +agreement NN I-NP +would MD B-VP +force VB I-VP +UAP NNP B-NP +to TO B-VP +buy VB I-VP +TransAtlantic NNP B-NP +'s POS B-NP +29.8 CD B-ADJP +% NN I-ADJP +holding VBG B-NP +in IN B-PP +Sun NNP B-NP +Life NNP I-NP +or CC O +sell VB B-VP +its PRP$ B-NP +22.9 CD I-NP +% NN I-NP +stake NN I-NP +to TO B-PP +TransAtlantic NNP B-NP +at IN B-PP +a DT B-NP +price NN I-NP +set VBN B-VP +by IN B-PP +Transatlantic NNP B-NP +. . O + +Pride NNP B-NP +Petroleum NNP I-NP +Services NNP I-NP +Inc. NNP I-NP +said VBD B-VP +it PRP B-NP +agreed VBD B-VP +to TO I-VP +buy VB I-VP +well-servicing JJ B-NP +assets NNS I-NP +of IN B-PP +two CD B-NP +companies NNS I-NP +and CC O +expects VBZ B-VP +to TO I-VP +report VB I-VP +higher JJR B-NP +third-quarter JJ I-NP +revenue NN I-NP +and CC I-NP +earnings NNS I-NP +. . O + +In IN B-PP +the DT B-NP +year-earlier JJ I-NP +quarter NN I-NP +, , O +the DT B-NP +well-servicing JJ I-NP +contractor NN I-NP +had VBD B-VP +net JJ B-NP +income NN I-NP +of IN B-PP +$ $ B-NP +319,000 CD I-NP +, , O +or CC O +3 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +revenue NN B-NP +of IN B-PP +about RB B-NP +$ $ I-NP +15 CD I-NP +million CD I-NP +. . O + +Results NNS B-NP +for IN B-PP +the DT B-NP +earlier JJR I-NP +quarter NN I-NP +included VBD B-VP +a DT B-NP +$ $ I-NP +100,000 CD I-NP +restructuring NN I-NP +charge NN I-NP +. . O + +Separately RB B-ADVP +, , O +the DT B-NP +Houston NNP I-NP +concern NN I-NP +said VBD B-VP +it PRP B-NP +signed VBD B-VP +letters NNS B-NP +of IN B-PP +intent NN B-NP +for IN B-PP +the DT B-NP +cash NN I-NP +and CC I-NP +stock NN I-NP +purchases NNS I-NP +of IN B-PP +a DT B-NP +total NN I-NP +of IN B-PP +29 CD B-NP +well-servicing JJ I-NP +rigs NNS I-NP +from IN B-PP +two CD B-NP +concerns NNS I-NP +located VBN B-VP +in IN B-PP +New NNP B-NP +Mexico NNP I-NP +and CC O +California NNP B-NP +. . O + +It PRP B-NP +did VBD B-VP +n't RB I-VP +disclose VB I-VP +specifics NNS B-NP +but CC O +said VBD B-VP +it PRP B-NP +expects VBZ B-VP +to TO I-VP +complete VB I-VP +the DT B-NP +purchases NNS I-NP +by IN B-PP +Nov. NNP B-NP +1 CD I-NP +. . O + +Schlumberger NNP B-NP +Ltd. NNP I-NP +, , O +New NNP B-NP +York NNP I-NP +, , O +reported VBD B-VP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +edged VBD B-VP +up IN B-ADVP +as IN B-SBAR +growth NN B-NP +in IN B-PP +its PRP$ B-NP +oil-field NN I-NP +services NNS I-NP +sector NN I-NP +offset VB B-VP +a DT B-NP +decline NN I-NP +in IN B-PP +interest NN B-NP +income NN I-NP +. . O + +The DT B-NP +lower JJR I-NP +interest NN I-NP +income NN I-NP +occurred VBD B-VP +because IN B-SBAR +Schlumberger NNP B-NP +spent VBD B-VP +$ $ B-NP +1.2 CD I-NP +billion CD I-NP +buying VBG B-VP +back RB B-PRT +its PRP$ B-NP +stock NN I-NP +last JJ B-NP +year NN I-NP +. . O + +Net JJ B-NP +for IN B-PP +the DT B-NP +oil-field NN I-NP +services NNS I-NP +and CC I-NP +electronic JJ I-NP +measurements NNS I-NP +and CC I-NP +systems NNS I-NP +concern VBP I-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +114.2 CD I-NP +million CD I-NP +, , O +or CC O +48 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +112.2 CD I-NP +million CD I-NP +, , O +or CC O +42 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Per-share JJ B-NP +earnings NNS I-NP +advanced VBD B-VP +14 CD B-NP +% NN I-NP +because IN B-PP +of IN I-PP +the DT B-NP +buy-back NN I-NP +. . O + +Revenue NN B-NP +declined VBD B-VP +6.3 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +1.11 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +1.18 CD I-NP +billion CD I-NP +. . O + +But CC O +excluding VBG B-PP +businesses NNS B-NP +acquired VBN B-VP +or CC I-VP +sold VBN I-VP +, , O +revenue NN B-NP +was VBD B-VP +flat JJ B-ADJP +at IN B-PP +about RB B-NP +$ $ I-NP +1.24 CD I-NP +billion CD I-NP +. . O + +Nine-month JJ B-NP +net NN I-NP +fell VBD B-VP +9.5 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +323.4 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.36 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +357.2 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.32 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Revenue NN B-NP +dropped VBD B-VP +5.4 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +3.48 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +3.68 CD I-NP +billion CD I-NP +. . O + +This DT B-NP +year NN I-NP +'s POS B-NP +nine-month JJ I-NP +results NNS I-NP +include VBP B-VP +gains NNS B-NP +of IN B-PP +$ $ B-NP +13 CD I-NP +million CD I-NP +, , O +or CC O +five CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +Schlumberger NNP B-NP +'s POS B-NP +defense NN I-NP +systems NNS I-NP +business NN I-NP +, , O +and CC O +$ $ B-NP +22 CD I-NP +million CD I-NP +, , O +or CC O +nine CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +an DT B-NP +award NN I-NP +by IN B-PP +the DT B-NP +IranU.S NNP I-NP +. . I-NP +Claims NNP I-NP +Tribunal NNP I-NP +. . O + +The DT B-NP +year-earlier JJ I-NP +nine CD I-NP +months NNS I-NP +include VBP B-VP +a DT B-NP +gain NN I-NP +of IN B-PP +$ $ B-NP +35 CD I-NP +million CD I-NP +, , O +or CC O +13 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +sale NN B-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +Electricity NNP I-NP +Control NNP I-NP +& CC I-NP +Transformers NNPS I-NP +division NN I-NP +. . O + +NEW NNP B-NP +ENGLAND NNP I-NP +CRITICAL NNP I-NP +CARE NNP I-NP +Inc. NNP I-NP +offered VBD B-VP +$ $ B-NP +35 CD I-NP +million CD I-NP +in IN B-PP +convertible JJ B-NP +subordinated VBN I-NP +debentures NNS I-NP +through IN B-PP +Morgan NNP B-NP +Stanley NNP I-NP +& CC I-NP +Co. NNP I-NP +and CC O +Prudential-Bache NNP B-NP +Capital NNP I-NP +Funding NNP I-NP +. . O + +The DT B-NP +debentures NNS I-NP +, , O +due JJ B-ADJP +in IN B-PP +2014 CD B-NP +, , O +have VBP B-VP +a DT B-NP +coupon NN I-NP +of IN B-PP +7 CD B-NP +3\/4 CD I-NP +% NN I-NP +, , O +payable JJ B-ADJP +semiannually RB I-ADJP +. . O + +The DT B-NP +debentures NNS I-NP +may MD B-VP +be VB I-VP +converted VBN I-VP +into IN B-PP +common JJ B-NP +stock NN I-NP +of IN B-PP +the DT B-NP +Westborough NNP I-NP +, , I-NP +Mass. NNP I-NP +, , I-NP +home NN I-NP +health NN I-NP +care NN I-NP +concern NN I-NP +at IN B-PP +$ $ B-NP +52.50 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Proceeds NNS B-NP +will MD B-VP +be VB I-VP +used VBN I-VP +for IN B-PP +working VBG B-NP +capital NN I-NP +and CC O +general JJ B-NP +corporate JJ I-NP +purposes NNS I-NP +, , O +including VBG B-PP +expansion NN B-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +operations NNS I-NP +. . O + +The DT B-NP +French JJ I-NP +building NN I-NP +group NN I-NP +Dumez NNP I-NP +S.A. NNP I-NP +said VBD B-VP +profit NN B-NP +jumped VBD B-VP +70 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +first JJ I-NP +half NN I-NP +of IN B-PP +1989 CD B-NP +, , O +partly RB B-PP +on IN I-PP +the DT B-NP +strength NN I-NP +of IN B-PP +nonrecurring VBG B-NP +gains NNS I-NP +from IN B-PP +a DT B-NP +share NN I-NP +issue NN I-NP +by IN B-PP +its PRP$ B-NP +Canadian JJ I-NP +unit NN I-NP +. . O + +Dumez NNP B-NP +said VBD B-VP +group NN B-NP +profit NN I-NP +after IN B-PP +payments NNS B-NP +to TO B-PP +minority NN B-NP +interests NNS I-NP +rose VBD B-VP +to TO B-PP +252 CD B-NP +million CD I-NP +francs NNS I-NP +-LRB- ( O +$ $ B-NP +40.1 CD I-NP +million CD I-NP +-RRB- ) O +from IN B-PP +148 CD B-NP +million CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Revenue NN B-NP +rose VBD B-VP +40 CD B-NP +% NN I-NP +to TO B-PP +13.32 CD B-NP +billion CD I-NP +francs NNS I-NP +from IN B-PP +9.53 CD B-NP +billion CD I-NP +. . O + +The DT B-NP +group NN I-NP +noted VBD B-VP +that IN B-SBAR +75 CD B-NP +million CD I-NP +francs NNS I-NP +of IN B-PP +the DT B-NP +advance NN I-NP +reflected VBD B-VP +a DT B-NP +one-time JJ I-NP +gain NN I-NP +from IN B-PP +the DT B-NP +June NNP I-NP +offering NN I-NP +by IN B-PP +its PRP$ B-NP +United NNP I-NP +Westburne NNP I-NP +unit NN I-NP +in IN B-PP +Canada NNP B-NP +. . O + +It PRP B-NP +did VBD B-VP +n't RB I-VP +say VB I-VP +if IN B-SBAR +its PRP$ B-NP +year-earlier JJ I-NP +results NNS I-NP +were VBD B-VP +influenced VBN I-VP +significantly RB B-ADVP +by IN B-PP +nonrecurring VBG B-NP +elements NNS I-NP +. . O + +For IN B-PP +all DT B-NP +of IN B-PP +1988 CD B-NP +, , O +Dumez NNP B-NP +had VBD B-VP +group NN B-NP +profit NN I-NP +of IN B-PP +452 CD B-NP +million CD I-NP +francs NNS I-NP +after IN B-PP +payment NN B-NP +to TO B-PP +minority NN B-NP +interests NNS I-NP +. . O + +Revenue NN B-NP +was VBD B-VP +21.98 CD B-NP +billion CD I-NP +francs NNS I-NP +. . O + +The DT B-NP +group NN I-NP +has VBZ B-VP +n't RB I-VP +forecast VB I-VP +full-year JJ B-NP +earnings NNS I-NP +for IN B-PP +1989 CD B-NP +, , O +although IN B-SBAR +it PRP B-NP +said VBD B-VP +that IN B-SBAR +its PRP$ B-NP +first-half JJ I-NP +results NNS I-NP +are VBP B-VP +n't RB O +a DT B-NP +good JJ I-NP +indication NN I-NP +because IN B-PP +of IN I-PP +one-time JJ B-NP +elements NNS I-NP +and CC O +the DT B-NP +seasonal JJ I-NP +nature NN I-NP +of IN B-PP +its PRP$ B-NP +operations NNS I-NP +. . O + +Tuesday NNP B-NP +'s POS B-NP +earthquake NN I-NP +will MD B-VP +depress VB I-VP +local JJ B-NP +real-estate NN I-NP +values NNS I-NP +in IN B-PP +the DT B-NP +short JJ I-NP +term NN I-NP +and CC O +force NN B-VP +companies NNS B-NP +to TO B-VP +reconsider VB I-VP +expanding VBG I-VP +in IN B-PP +or CC O +relocating VBG B-VP +to TO B-PP +the DT B-NP +Bay NNP I-NP +Area NNP I-NP +and CC O +California NNP B-NP +, , O +real-estate NN B-NP +and CC I-NP +relocation NN I-NP +specialists NNS I-NP +said VBD B-VP +. . O + +Few JJ B-NP +specialists NNS I-NP +said VBD B-VP +they PRP B-NP +expect VBP B-VP +the DT B-NP +quake NN I-NP +to TO B-VP +have VB I-VP +much NN B-NP +of IN B-PP +an DT B-NP +effect NN I-NP +on IN B-PP +most RBS B-NP +California NNP I-NP +property NN I-NP +values NNS I-NP +. . O + +But CC O +real-estate NN B-NP +experts NNS I-NP +and CC I-NP +brokers NNS I-NP +said VBD B-VP +the DT B-NP +quake NN I-NP +undoubtedly RB B-ADVP +will MD B-VP +drag VB I-VP +down RB B-PRT +prices VBZ B-NP +in IN B-PP +neighborhoods NNS B-NP +built VBN B-VP +on IN B-PP +less RBR B-NP +stable JJ I-NP +ground NN I-NP +, , O +especially RB B-PP +in IN I-PP +the DT B-NP +Bay NNP I-NP +Area NNP I-NP +. . O + +`` `` O +California NNP B-NP +prices NNS I-NP +were VBD B-VP +already RB I-VP +coming VBG I-VP +down RB B-ADVP +. . O + +This DT B-NP +is VBZ B-VP +n't RB I-VP +going VBG I-VP +to TO I-VP +help VB I-VP +, , O +'' '' O +said VBD B-VP +Kenneth NNP B-NP +T. NNP I-NP +Rosen NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +the DT B-NP +Center NNP I-NP +for IN B-PP +Real NNP B-NP +Estate NNP I-NP +and CC I-NP +Urban NNP I-NP +Economics NNP I-NP +at IN B-PP +the DT B-NP +University NNP I-NP +of IN B-PP +California NNP B-NP +at IN B-PP +Berkeley NNP B-NP +. . O + +State NN B-NP +housing NN I-NP +prices NNS I-NP +, , O +at IN B-PP +a DT B-NP +median JJ I-NP +$ $ I-NP +201,028 CD I-NP +, , O +have VBP B-VP +declined VBN I-VP +in IN B-PP +recent JJ B-NP +months NNS I-NP +because IN B-PP +of IN I-PP +potential JJ B-NP +buyers NNS I-NP +' POS B-NP +inability NN I-NP +to TO B-VP +afford VB I-VP +homes NNS B-NP +. . O + +Mr. NNP B-NP +Rosen NNP I-NP +, , O +among IN B-PP +others NNS B-NP +, , O +suggested VBD B-VP +that IN B-SBAR +the DT B-NP +quake NN I-NP +, , O +the DT B-NP +strongest JJS I-NP +since IN B-PP +the DT B-NP +1906 CD I-NP +temblor NN I-NP +that WDT B-NP +struck VBD B-VP +San NNP B-NP +Francisco NNP I-NP +, , O +will MD B-VP +in IN B-PP +the DT B-NP +short JJ I-NP +term NN I-NP +create VB B-VP +a DT B-NP +two-tier JJ I-NP +price NN I-NP +system NN I-NP +for IN B-PP +quake-prone JJ B-NP +communities NNS I-NP +, , O +with IN B-PP +dwellings NNS B-NP +built VBN B-VP +on IN B-PP +sturdy JJ B-NP +ground NN I-NP +likely JJ B-ADJP +to TO B-VP +demand VB I-VP +higher JJR B-NP +prices NNS I-NP +. . O + +One CD B-NP +San NNP I-NP +Francisco NNP I-NP +neighborhood NN I-NP +likely JJ B-ADJP +to TO B-VP +test VB I-VP +Mr. NNP B-NP +Rosen NNP I-NP +'s POS B-NP +theory NN I-NP +soon RB B-ADVP +is VBZ B-VP +the DT B-NP +city NN I-NP +'s POS B-NP +fashionable JJ I-NP +Marina NNP I-NP +district NN I-NP +, , O +which WDT B-NP +boasts VBZ B-VP +some DT B-NP +of IN B-PP +the DT B-NP +highest JJS I-NP +home NN I-NP +prices NNS I-NP +in IN B-PP +the DT B-NP +state NN I-NP +. . O + +The DT B-NP +district NN I-NP +, , O +built VBN B-VP +on IN B-PP +landfill NN B-NP +, , O +suffered VBD B-VP +heavy JJ B-NP +quake NN I-NP +damage NN I-NP +, , O +including VBG B-PP +collapsed VBN B-NP +buildings NNS I-NP +. . O + +Yesterday NN B-NP +, , O +the DT B-NP +city NN I-NP +demolished VBN B-VP +two CD B-NP +dwellings NNS I-NP +in IN B-PP +the DT B-NP +district NN I-NP +because IN B-PP +of IN I-PP +severe JJ B-NP +structural JJ I-NP +damage NN I-NP +and CC O +said VBD B-VP +as RB B-NP +many JJ I-NP +as IN I-NP +19 CD I-NP +of IN B-PP +the DT B-NP +district NN I-NP +'s POS B-NP +350 CD I-NP +dwellings NNS I-NP +might MD B-VP +have VB I-VP +to TO I-VP +be VB I-VP +razed VBN I-VP +. . O + +Brokers NNS B-NP +agreed VBD B-VP +with IN B-PP +the DT B-NP +two-tier JJ I-NP +price NN I-NP +theory NN I-NP +. . O + +`` `` O +My PRP$ B-NP +gut NN I-NP +feeling NN I-NP +is VBZ B-VP +that IN B-SBAR +the DT B-NP +Marina NNP I-NP +properties NNS I-NP +will MD B-VP +be VB I-VP +affected VBN I-VP +, , O +'' '' O +said VBD B-VP +Grace NNP B-NP +Perkins NNP I-NP +, , O +senior JJ B-NP +vice NN I-NP +president NN I-NP +at IN B-PP +Grubb NNP B-NP +& CC I-NP +Ellis NNP I-NP +Residential NNP I-NP +Brokerage NNP I-NP +Inc NNP I-NP +. . O + +Neither CC O +she PRP B-NP +nor CC O +other JJ B-NP +real-estate NN I-NP +executives NNS I-NP +and CC I-NP +brokers NNS I-NP +could MD B-VP +project VB I-VP +how WRB B-NP +much RB I-NP +less JJR I-NP +Marina NNP B-NP +properties NNS I-NP +might MD B-VP +bring VB I-VP +, , O +but CC O +she PRP B-NP +said VBD B-VP +the DT B-NP +two-tier JJ I-NP +price NN I-NP +structure NN I-NP +would MD B-VP +affect VB I-VP +prices NNS B-NP +`` `` O +for IN B-PP +a DT B-NP +while NN I-NP +. . O +'' '' O + +Mr. NNP B-NP +Rosen NNP I-NP +said VBD B-VP +the DT B-NP +quake NN I-NP +will MD B-VP +revive VB I-VP +consumer NN B-NP +interest NN I-NP +in IN B-PP +a DT B-NP +little-publicized JJ I-NP +1972 CD I-NP +state NN I-NP +law NN I-NP +that WDT B-NP +requires VBZ B-VP +brokers NNS B-NP +to TO B-VP +disclose VB I-VP +to TO B-PP +potential JJ B-NP +buyers NNS I-NP +how WRB B-ADVP +close VB O +a DT B-NP +property NN I-NP +sits VBZ B-VP +to TO B-PP +a DT B-NP +fault NN I-NP +line NN I-NP +. . O + +Because IN B-PP +of IN I-PP +the DT B-NP +size NN I-NP +of IN B-PP +the DT B-NP +California NNP I-NP +market NN I-NP +, , O +few JJ B-NP +relocation NN I-NP +specialists NNS I-NP +expect VBP B-VP +a DT B-NP +widespread JJ I-NP +corporate JJ I-NP +flight NN I-NP +in IN B-PP +the DT B-NP +quake NN I-NP +'s POS B-NP +aftermath NN I-NP +. . O + +But CC O +they PRP B-NP +said VBD B-VP +the DT B-NP +quake NN I-NP +will MD B-VP +force VB I-VP +some DT B-NP +companies NNS I-NP +to TO B-VP +relocate VB I-VP +or CC I-VP +expand VB I-VP +part NN B-NP +or CC I-NP +all DT I-NP +of IN B-PP +their PRP$ B-NP +operations NNS I-NP +outside IN B-PP +the DT B-NP +state NN I-NP +. . O + +`` `` O +What WP B-NP +you PRP B-NP +'re VBP B-VP +going VBG I-VP +to TO I-VP +get VB I-VP +is VBZ B-VP +` `` O +We PRP B-NP +do VBP B-VP +n't RB I-VP +want VB I-VP +to TO I-VP +put VB I-VP +all DT B-NP +of IN B-PP +our PRP$ B-NP +eggs NNS I-NP +in IN B-PP +one CD B-NP +basket NN I-NP +' POS B-NP +theory NN I-NP +, , O +'' '' O +said VBD B-VP +James NNP B-NP +H. NNP I-NP +Renzas NNP I-NP +, , O +president NN B-NP +of IN B-PP +Location NNP B-NP +Management NNP I-NP +Services NNP I-NP +Inc. NNP I-NP +, , O +a DT B-NP +Palo NNP I-NP +Alto NNP I-NP +, , I-NP +Calif. NNP I-NP +, , I-NP +relocation NN I-NP +concern NN I-NP +. . O + +Mr. NNP B-NP +Renzas NNP I-NP +, , O +among IN B-PP +others NNS B-NP +, , O +said VBD B-VP +the DT B-NP +quake NN I-NP +will MD B-VP +prod VB I-VP +companies NNS B-NP +in IN B-PP +certain JJ B-NP +industries NNS I-NP +, , O +like IN B-PP +semiconductors NNS B-NP +, , I-NP +computers NNS I-NP +and CC I-NP +aerospace NN I-NP +, , O +to TO B-VP +consider VB I-VP +moving VBG I-VP +operations NNS B-NP +that WDT B-NP +involve VBP B-VP +particularly RB B-NP +sensitive JJ I-NP +machinery NN I-NP +to TO B-PP +locations NNS B-NP +outside IN B-PP +California NNP B-NP +. . O + +Because IN B-PP +of IN I-PP +the DT B-NP +quake NN I-NP +threat NN I-NP +, , O +`` `` O +some DT B-NP +firms NNS I-NP +have VBP B-VP +evaluated VBN I-VP +what WP B-NP +the DT B-NP +cost NN I-NP +is VBZ B-VP +to TO B-VP +shore VB I-VP +up IN B-PRT +their PRP$ B-NP +buildings NNS I-NP +and CC O +compared VBN B-VP +it PRP B-NP +with IN B-PP +the DT B-NP +cost NN I-NP +of IN B-PP +building NN B-VP +it PRP B-NP +elswehere NN B-ADVP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +One CD B-NP +Southern NNP I-NP +California NNP I-NP +aerospace NN I-NP +firm NN I-NP +, , O +for IN B-PP +example NN B-NP +, , O +two CD B-NP +months NNS I-NP +ago RB B-ADVP +asked VBD B-VP +Location NNP B-NP +Management NNP I-NP +to TO B-VP +compare VB I-VP +the DT B-NP +costs NNS I-NP +of IN B-PP +reinforcing VBG B-VP +its PRP$ B-NP +current JJ I-NP +building NN I-NP +against IN B-PP +earthquakes NNS B-NP +with IN B-PP +the DT B-NP +cost NN I-NP +of IN B-PP +building VBG B-VP +a DT B-NP +new JJ I-NP +structure NN I-NP +elsewhere RB B-ADVP +. . O + +A DT B-NP +new JJ I-NP +dwelling NN I-NP +would MD B-VP +cost VB I-VP +$ $ B-NP +21 CD I-NP +million CD I-NP +, , O +Location NNP B-NP +Management NNP I-NP +found VBD B-VP +, , O +compared VBN B-PP +with IN B-PP +$ $ B-NP +22 CD I-NP +million CD I-NP +to TO B-VP +make VB I-VP +the DT B-NP +present JJ I-NP +building NN I-NP +earthquake-proof JJ B-ADJP +. . O + +The DT B-NP +company NN I-NP +, , O +Mr. NNP B-NP +Renzas NNP I-NP +said VBD B-VP +, , O +has VBZ B-VP +n't RB I-VP +yet RB I-VP +determined VBN I-VP +what WP B-NP +to TO B-VP +do VB I-VP +. . O + +NATIONWIDE NNP B-NP +HEALTH NN I-NP +PROPERTIES NNPS I-NP +, , O +Pasadena NNP B-NP +, , O +Calif. NNP B-NP +, , O +said VBD B-VP +it PRP B-NP +would MD B-VP +n't RB I-VP +pay VB I-VP +its PRP$ B-NP +fourth-quarter JJ I-NP +dividend NN I-NP +, , O +despite IN B-PP +a DT B-NP +44 CD I-NP +% NN I-NP +increase NN I-NP +in IN B-PP +third-quarter JJ B-NP +earnings NNS I-NP +, , O +to TO B-PP +$ $ B-NP +3.5 CD I-NP +million CD I-NP +, , O +or CC O +42 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +Net JJ B-NP +income NN I-NP +included VBD B-VP +a DT B-NP +gain NN I-NP +of IN B-PP +$ $ B-NP +708,000 CD I-NP +on IN B-PP +asset NN B-NP +sales NNS I-NP +, , O +the DT B-NP +real JJ I-NP +estate NN I-NP +investment NN I-NP +trust NN I-NP +said VBD B-VP +. . O + +A DT B-NP +year NN I-NP +earlier RBR B-ADVP +, , O +Nationwide NNP B-NP +Health NNP I-NP +earned VBD B-VP +$ $ B-NP +2.4 CD I-NP +million CD I-NP +, , O +or CC O +29 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +Revenue NN B-NP +rose VBD B-VP +3 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +9 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +8.8 CD I-NP +million CD I-NP +. . O + +Nationwide NNP B-NP +Health NNP I-NP +said VBD B-VP +that IN B-SBAR +although IN B-SBAR +it PRP B-NP +has VBZ B-VP +the DT B-NP +cash NN I-NP +to TO B-VP +cover VB I-VP +the DT B-NP +25-cent-a-share JJ I-NP +dividend NN I-NP +, , O +its PRP$ B-NP +banks NNS I-NP +have VBP B-VP +denied VBN I-VP +the DT B-NP +company NN I-NP +'s POS B-NP +request NN I-NP +to TO B-VP +pay VB I-VP +it PRP B-NP +because IN B-SBAR +the DT B-NP +trust NN I-NP +has VBZ B-VP +n't RB I-VP +met VBN I-VP +certain JJ B-NP +terms NNS I-NP +. . O + +Nationwide NNP B-NP +Health NNP I-NP +said VBD B-VP +it PRP B-NP +has VBZ B-VP +`` `` O +numerous JJ B-NP +financing NN I-NP +activities NNS I-NP +'' '' O +under IN B-PP +way NN B-NP +to TO B-VP +remedy VB I-VP +the DT B-NP +problem NN I-NP +and CC O +will MD B-VP +make VB I-VP +up IN B-PRT +the DT B-NP +dividend NN I-NP +payment NN I-NP +later RB B-ADVP +if IN B-SBAR +possible JJ B-ADJP +. . O + +Aussedat NNP B-NP +Rey NNP I-NP +S.A. NNP I-NP +, , O +a DT B-NP +French JJ I-NP +paper NN I-NP +producer NN I-NP +, , O +said VBD B-VP +it PRP B-NP +concluded VBD B-VP +an DT B-NP +agreement NN I-NP +with IN B-PP +Japan NNP B-NP +'s POS B-NP +Fuji NNP I-NP +Photo NNP I-NP +Film NNP I-NP +Co. NNP I-NP +that WDT B-NP +will MD B-VP +allow VB I-VP +Aussedat NNP B-NP +Rey NNP I-NP +to TO B-VP +manufacture VB I-VP +and CC I-VP +sell VB I-VP +thermal JJ B-NP +paper NN I-NP +using VBG B-VP +Fuji NNP B-NP +technology NN I-NP +. . O + +Aussedat NNP B-NP +Rey NNP I-NP +is VBZ B-VP +a DT B-NP +leading VBG I-NP +French JJ I-NP +maker NN I-NP +of IN B-PP +copying NN B-NP +and CC I-NP +electronic JJ I-NP +printing NN I-NP +paper NN I-NP +. . O + +Thermal JJ B-NP +paper NN I-NP +is VBZ B-VP +used VBN I-VP +in IN B-PP +facsimile NN B-NP +machines NNS I-NP +. . O + +Terms NNS B-NP +of IN B-PP +the DT B-NP +agreement NN I-NP +were VBD B-VP +n't RB I-VP +disclosed VBN I-VP +. . O + +Aussedat NNP B-NP +Rey NNP I-NP +'s POS B-NP +move NN I-NP +follows VBZ B-VP +similar JJ B-NP +technology-licensing JJ I-NP +agreements NNS I-NP +between IN B-PP +Japanese JJ B-NP +producers NNS I-NP +of IN B-PP +thermal JJ B-NP +paper NN I-NP +and CC O +European JJ B-NP +paper NN I-NP +groups NNS I-NP +. . O + +W.R. NNP B-NP +Grace NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +New NNP B-NP +York NNP I-NP +, , O +said VBD B-VP +its PRP$ B-NP +earnings NNS I-NP +for IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +nearly RB B-VP +doubled VBD I-VP +as IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +a DT B-NP +$ $ I-NP +114.4 CD I-NP +million CD I-NP +pre-tax JJ I-NP +gain NN I-NP +from IN B-PP +restructuring VBG B-VP +its PRP$ B-NP +energy NN I-NP +operations NNS I-NP +and CC O +other JJ B-NP +adjustments NNS I-NP +. . O + +Net JJ B-NP +income NN I-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +97.9 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.15 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +50.5 CD I-NP +million CD I-NP +, , O +or CC O +60 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Sales NNS B-NP +increased VBN B-VP +7 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +1.49 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +1.39 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +gain NN I-NP +resulted VBD B-VP +from IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +Grace NNP B-NP +Equipment NNP I-NP +Co. NNP I-NP +, , O +the DT B-NP +initial JJ I-NP +public JJ I-NP +offering NN I-NP +of IN B-PP +a DT B-NP +one-sixth JJ I-NP +interest NN I-NP +in IN B-PP +Grace NNP B-NP +Energy NNP I-NP +Corp. NNP I-NP +and CC O +an DT B-NP +adjustment NN I-NP +in IN B-PP +the DT B-NP +carrying VBG I-NP +value NN I-NP +of IN B-PP +certain JJ B-NP +natural JJ I-NP +resource NN I-NP +assets NNS I-NP +not RB B-NP +part NN I-NP +of IN B-PP +Grace NNP B-NP +Energy NNP I-NP +. . O + +The DT B-NP +international JJ I-NP +specialty NN I-NP +chemical NN I-NP +company NN I-NP +'s POS B-NP +earnings NNS I-NP +were VBD B-VP +hurt VBN I-VP +by IN B-PP +an DT B-NP +accrual NN I-NP +for IN B-PP +stock-appreciation NN B-NP +rights NNS I-NP +that WDT B-NP +reflected VBD B-VP +a DT B-NP +19 CD I-NP +% NN I-NP +increase NN I-NP +in IN B-PP +the DT B-NP +stock NN I-NP +price NN I-NP +, , O +and CC O +higher JJR B-NP +interest NN I-NP +expenses NNS I-NP +. . O + +Anglo NNP B-NP +American NNP I-NP +Corp. NNP I-NP +of IN B-PP +South NNP B-NP +Africa NNP I-NP +Ltd. NNP I-NP +said VBD B-VP +the DT B-NP +third-quarter JJ I-NP +combined VBN I-NP +profit NN I-NP +of IN B-PP +its PRP$ B-NP +six CD I-NP +gold NN I-NP +mines NNS I-NP +dropped VBD B-VP +8.5 CD B-NP +% NN I-NP +from IN B-PP +the DT B-NP +previous JJ I-NP +quarter NN I-NP +. . O + +Total JJ B-NP +net JJ I-NP +income NN I-NP +fell VBD B-VP +to TO B-PP +471.6 CD B-NP +million CD I-NP +rand NN I-NP +-LRB- ( O +$ $ B-NP +178.0 CD I-NP +million CD I-NP +-RRB- ) O +from IN B-PP +515.4 CD B-NP +million CD I-NP +rand NN I-NP +in IN B-PP +the DT B-NP +June NNP I-NP +quarter NN I-NP +. . O + +Total JJ B-NP +gold NN I-NP +production NN I-NP +by IN B-PP +all DT B-NP +six CD I-NP +mines NNS I-NP +rose VBD B-VP +4 CD B-NP +% NN I-NP +to TO B-PP +63,971 CD B-NP +kilograms NNS I-NP +from IN B-PP +61,493 CD B-NP +kilograms NNS I-NP +in IN B-PP +the DT B-NP +previous JJ I-NP +quarter NN I-NP +. . O + +Doman NNP B-NP +Industries NNP I-NP +Ltd. NNP I-NP +said VBD B-VP +it PRP B-NP +increased VBD B-VP +its PRP$ B-NP +stake NN I-NP +in IN B-PP +Western NNP B-NP +Forest NNP I-NP +Products NNP I-NP +Ltd. NNP I-NP +to TO B-PP +56 CD B-NP +% NN I-NP +from IN B-PP +22 CD B-NP +% NN I-NP +, , O +through IN B-PP +a DT B-NP +two-step JJ I-NP +transaction NN I-NP +valued VBN B-VP +at IN B-PP +137 CD B-NP +million CD I-NP +Canadian JJ I-NP +dollars NNS I-NP +-LRB- ( O +$ $ B-NP +US116.7 CD I-NP +million CD I-NP +-RRB- ) O +. . O + +Doman NNP B-NP +is VBZ B-VP +based VBN I-VP +in IN B-PP +Duncan NNP B-NP +, , O +British NNP B-NP +Columbia NNP I-NP +. . O + +The DT B-NP +company NN I-NP +, , O +founded VBN B-VP +and CC I-VP +controlled VBN I-VP +by IN B-PP +Harbanse NNP B-NP +Doman NNP I-NP +, , O +its PRP$ B-NP +chairman NN I-NP +and CC I-NP +president NN I-NP +, , O +said VBD B-VP +the DT B-NP +purchase NN I-NP +would MD B-VP +make VB I-VP +it PRP B-NP +Canada NNP B-NP +'s POS B-NP +10th JJ B-ADJP +largest JJS I-ADJP +forest NN B-NP +products NNS I-NP +company NN I-NP +. . O + +Under IN B-PP +terms NNS B-NP +of IN B-PP +the DT B-NP +transaction NN I-NP +, , O +which WDT B-NP +was VBD B-VP +proposed VBN I-VP +in IN B-PP +June NNP B-NP +, , O +Doman NNP B-NP +said VBD B-VP +it PRP B-NP +acquired VBD B-VP +International NNP B-NP +Forest NNP I-NP +Products NNP I-NP +Ltd. NNP I-NP +'s POS B-NP +22 CD B-ADJP +% NN I-ADJP +stake NN B-NP +in IN B-PP +Western NNP B-NP +Forest NNP I-NP +, , O +and CC O +Western NNP B-NP +Forest NNP I-NP +, , O +in IN B-PP +a DT B-NP +related VBN I-NP +transaction NN I-NP +, , O +bought VBD B-VP +back RB B-PRT +a DT B-NP +22 CD I-NP +% NN I-NP +interest NN I-NP +in IN B-PP +the DT B-NP +company NN I-NP +from IN B-PP +Fletcher NNP B-NP +Challenge NNP I-NP +Canada NNP I-NP +Ltd NNP I-NP +. . O + +The DT B-NP +Fletcher NNP I-NP +Challenge NNP I-NP +Canada NNP I-NP +stake NN I-NP +was VBD B-VP +then RB I-VP +canceled VBN I-VP +, , O +Doman NNP B-NP +said VBD B-VP +, , O +raising VBG B-VP +Doman NNP B-NP +'s POS B-NP +interest NN I-NP +in IN B-PP +Western NNP B-NP +Forest NNP I-NP +to TO B-PP +56 CD B-NP +% NN I-NP +. . O + +Doman NNP B-NP +said VBD B-VP +it PRP B-NP +was VBD B-VP +also RB I-VP +granted VBN I-VP +an DT B-NP +option NN I-NP +to TO B-VP +acquire VB I-VP +the DT B-NP +remaining VBG I-NP +44 CD I-NP +% NN I-NP +interest NN I-NP +in IN B-PP +Western NNP B-NP +Forest NNP I-NP +, , O +which WDT B-NP +is VBZ B-VP +currently RB I-VP +held VBN I-VP +by IN B-PP +two CD B-NP +Canadian JJ I-NP +banks NNS I-NP +. . O + +International NNP B-NP +Forest NNP I-NP +, , O +Western NNP B-NP +Forest NNP I-NP +, , O +and CC O +Fletcher NNP B-NP +Challenge NNP I-NP +Canada NNP I-NP +are VBP B-VP +Vancouver-based JJ B-NP +forest NN I-NP +products NNS I-NP +concerns NNS I-NP +. . O + +The DT B-NP +Canadian JJ I-NP +government NN I-NP +introduced VBN B-VP +in IN B-PP +the DT B-NP +House NNP I-NP +of IN B-PP +Commons NNP B-NP +legislation NN B-NP +to TO B-VP +extend VB I-VP +federal JJ B-NP +regulatory JJ I-NP +authority NN I-NP +over IN B-PP +provincial JJ B-NP +government-owned JJ I-NP +telephone NN I-NP +utilities NNS I-NP +in IN B-PP +Alberta NNP B-NP +, , I-NP +Saskatchewan NNP I-NP +and CC I-NP +Manitoba NNP I-NP +. . O + +The DT B-NP +legislation NN I-NP +would MD B-VP +open VB I-VP +the DT B-NP +way NN I-NP +for IN B-PP +more JJR B-NP +telephone NN I-NP +services NNS I-NP +and CC O +more JJR B-NP +competition NN I-NP +in IN B-PP +the DT B-NP +telephone NN I-NP +business NN I-NP +in IN B-PP +the DT B-NP +three CD I-NP +provinces NNS I-NP +, , O +federal JJ B-NP +officials NNS I-NP +said VBD B-VP +. . O + +The DT B-NP +federal JJ I-NP +government NN I-NP +initiative NN I-NP +follows VBZ B-VP +a DT B-NP +recent JJ I-NP +Canadian NNP I-NP +Supreme NNP I-NP +Court NNP I-NP +decision NN I-NP +that WDT B-NP +held VBD B-VP +that IN B-SBAR +the DT B-NP +major JJ I-NP +telephone NN I-NP +companies NNS I-NP +in IN B-PP +Alberta NNP B-NP +, , I-NP +Saskatchewan NNP I-NP +and CC I-NP +Manitoba NNP I-NP +and CC B-PP +in IN B-PP +the DT B-NP +Atlantic NNP I-NP +coast NN I-NP +provinces NNS I-NP +were VBD B-VP +interprovincial JJ B-NP +undertakings NNS I-NP +and CC O +subject NN B-ADJP +to TO B-PP +federal JJ B-NP +legislative JJ I-NP +authority NN I-NP +. . O + +Prior RB B-ADVP +to TO B-PP +the DT B-NP +ruling VBG I-NP +the DT B-NP +federal JJ I-NP +government NN I-NP +had VBD B-VP +regulated VBN I-VP +only RB B-NP +the DT I-NP +telephone NN I-NP +companies NNS I-NP +in IN B-PP +Quebec NNP B-NP +, , O +Ontario NNP B-NP +, , O +British NNP B-NP +Columbia NNP I-NP +and CC O +the DT B-NP +Northwest NNP I-NP +Territories NNP I-NP +. . O + +The DT B-NP +governments NNS I-NP +of IN B-PP +Alberta NNP B-NP +, , I-NP +Saskatchewan NNP I-NP +and CC I-NP +Manitoba NNP I-NP +have VBP B-VP +strongly RB I-VP +opposed VBN I-VP +federal JJ B-NP +regulation NN I-NP +of IN B-PP +their PRP$ B-NP +telephone NN I-NP +companies NNS I-NP +. . O + +The DT B-NP +extension NN I-NP +of IN B-PP +federal JJ B-NP +regulatory JJ I-NP +authority NN I-NP +over IN B-PP +telephone NN B-NP +utilities NNS I-NP +in IN B-PP +the DT B-NP +Atlantic NNP I-NP +provinces NNS I-NP +has VBZ B-VP +n't RB I-VP +required VBN I-VP +special JJ B-NP +legislation NN I-NP +because IN B-SBAR +they PRP B-NP +are VBP B-VP +investor-owned JJ B-ADJP +. . O + +Amdura NNP B-NP +Corp. NNP I-NP +said VBD B-VP +its PRP$ B-NP +bank NN I-NP +group NN I-NP +, , O +led VBN B-VP +by IN B-PP +Chicago-based JJ B-NP +Continental NNP I-NP +Bank NNP I-NP +, , O +agreed VBD B-VP +to TO I-VP +extend VB I-VP +its PRP$ B-NP +$ $ I-NP +40 CD I-NP +million CD I-NP +bridge NN I-NP +loan NN I-NP +until IN B-PP +March NNP B-NP +31 CD I-NP +, , I-NP +1990 CD I-NP +, , O +and CC O +gave VBD B-VP +it PRP B-NP +a DT B-NP +new JJ I-NP +$ $ I-NP +30 CD I-NP +million CD I-NP +credit NN I-NP +line NN I-NP +. . O + +Under IN B-PP +terms NNS B-NP +of IN B-PP +the DT B-NP +loan NN I-NP +agreement NN I-NP +, , O +Amdura NNP B-NP +said VBD B-VP +it PRP B-NP +will MD B-VP +omit VB I-VP +the DT B-NP +next JJ I-NP +quarterly JJ I-NP +dividends NNS I-NP +on IN B-PP +its PRP$ B-NP +Series NNP I-NP +A DT I-NP +, , I-NP +B NNP I-NP +, , I-NP +C NN I-NP +and CC I-NP +D NN I-NP +preferred JJ I-NP +shares NNS I-NP +, , O +which WDT B-NP +are VBP B-VP +due JJ B-ADJP +Nov. NNP B-NP +15 CD I-NP +. . O + +Since IN B-SBAR +the DT B-NP +preferred JJ I-NP +stock NN I-NP +is VBZ B-VP +cumulative JJ B-ADJP +, , O +Amdura NNP B-NP +said VBD B-VP +it PRP B-NP +will MD B-VP +pay VB I-VP +all DT B-NP +omitted VBN I-NP +dividends NNS I-NP +, , O +which WDT B-NP +range VBP B-VP +from IN B-PP +$ $ B-NP +1.19 CD I-NP +to TO I-NP +$ $ I-NP +4.88 CD I-NP +a DT B-NP +share NN I-NP +, , O +when WRB B-ADVP +debt-reduction NN B-NP +requirements NNS I-NP +have VBP B-VP +been VBN I-VP +met VBN I-VP +. . O + +Amdura NNP B-NP +'s POS B-NP +bridge NN I-NP +loan NN I-NP +, , O +part NN B-NP +of IN B-PP +the DT B-NP +financing NN I-NP +for IN B-PP +Amdura NNP B-NP +'s POS B-NP +acquisition NN I-NP +of IN B-PP +CoastAmerica NNP B-NP +in IN B-PP +December NNP B-NP +1988 CD I-NP +, , O +was VBD B-VP +to TO B-VP +come VB I-VP +due JJ B-ADJP +next JJ B-NP +Friday NNP I-NP +. . O + +The DT B-NP +company NN I-NP +'s POS B-NP +new JJ I-NP +management NN I-NP +, , O +which WDT B-NP +took VBD B-VP +control NN B-NP +of IN B-PP +Amdura NNP B-NP +'s POS B-NP +board NN I-NP +after IN B-PP +a DT B-NP +consent NN I-NP +solicitation NN I-NP +last JJ B-NP +month NN I-NP +, , O +wanted VBD B-VP +to TO I-VP +extend VB I-VP +the DT B-NP +loan NN I-NP +while IN B-SBAR +it PRP B-NP +tries VBZ B-VP +to TO I-VP +sell VB I-VP +two CD B-NP +units NNS I-NP +. . O + +Proceeds NNS B-NP +from IN B-PP +those DT B-NP +sales NNS I-NP +will MD B-VP +be VB I-VP +used VBN I-VP +to TO B-VP +reduce VB I-VP +debt NN B-NP +. . O + +Amdura NNP B-NP +, , O +a DT B-NP +Denver NNP I-NP +hardware NN I-NP +and CC I-NP +automotive JJ I-NP +distributor NN I-NP +, , O +said VBD B-VP +the DT B-NP +new JJ I-NP +credit NN I-NP +agreement NN I-NP +will MD B-VP +provide VB I-VP +the DT B-NP +working VBG I-NP +capital NN I-NP +needed VBN B-VP +to TO B-VP +meet VB I-VP +ongoing JJ B-NP +requirements NNS I-NP +. . O + +Three CD B-NP +savings-and-loan JJ I-NP +institutions NNS I-NP +in IN B-PP +Kansas NNP B-NP +and CC I-NP +Texas NNP I-NP +were VBD B-VP +added VBN I-VP +to TO B-PP +the DT B-NP +Resolution NNP I-NP +Trust NNP I-NP +Corp. NNP I-NP +'s POS B-NP +conservatorship NN I-NP +program NN I-NP +after IN B-SBAR +federal JJ B-NP +regulators NNS I-NP +declared VBD B-VP +the DT B-NP +thrifts NNS I-NP +insolvent JJ B-ADJP +and CC O +named VBD B-VP +the DT B-NP +RTC NNP I-NP +their PRP$ B-NP +receiver NN I-NP +. . O + +The DT B-NP +deposits NNS I-NP +, , I-NP +assets NNS I-NP +and CC I-NP +certain JJ I-NP +liabilities NNS I-NP +of IN B-PP +the DT B-NP +three CD I-NP +thrifts NNS I-NP +were VBD B-VP +transferred VBN I-VP +to TO B-PP +newly RB B-NP +chartered JJ I-NP +federal JJ I-NP +mutual JJ I-NP +institutions NNS I-NP +. . O + +The DT B-NP +three CD I-NP +institutions NNS I-NP +are VBP B-VP +: : O +Mid NNP B-NP +Kansas NNP I-NP +Federal NNP I-NP +Savings NNP I-NP +& CC I-NP +Loan NNP I-NP +Association NNP I-NP +, , O +Wichita NNP B-NP +, , O +which WDT B-NP +had VBD B-VP +$ $ B-NP +830.5 CD I-NP +million CD I-NP +in IN B-PP +assets NNS B-NP +; : O +Valley NNP B-NP +Federal NNP I-NP +Savings NNP I-NP +& CC I-NP +Loan NNP I-NP +Association NNP I-NP +of IN B-PP +McAllen NNP B-NP +, , O +McAllen NNP B-NP +, , O +Texas NNP B-NP +, , O +with IN B-PP +$ $ B-NP +582.6 CD I-NP +million CD I-NP +in IN B-PP +assets NNS B-NP +; : O +and CC O +Surety NNP B-NP +Savings NNP I-NP +Association NNP I-NP +, , O +El NNP B-NP +Paso NNP I-NP +, , O +with IN B-PP +$ $ B-NP +309.3 CD I-NP +million CD I-NP +in IN B-PP +assets NNS B-NP +. . O + +The DT B-NP +three CD I-NP +insolvent JJ I-NP +thrifts NNS I-NP +will MD B-VP +maintain VB I-VP +normal JJ B-NP +business NN I-NP +hours NNS I-NP +and CC I-NP +operations NNS I-NP +under IN B-PP +RTC-appointed JJ B-NP +managing NN I-NP +agents NNS I-NP +, , O +while IN B-SBAR +the DT B-NP +RTC NNP I-NP +tries VBZ B-VP +to TO I-VP +negotiate VB I-VP +permanent JJ B-NP +resolutions NNS I-NP +. . O + +Separately RB B-ADVP +, , O +Century NNP B-NP +Bank NNP I-NP +, , O +Phoenix NNP B-NP +, , O +Ariz. NNP B-NP +, , O +was VBD B-VP +closed VBN I-VP +by IN B-PP +Arizona NNP B-NP +banking NN I-NP +officials NNS I-NP +. . O + +The DT B-NP +Federal NNP I-NP +Deposit NNP I-NP +Insurance NNP I-NP +Corp. NNP I-NP +approved VBD B-VP +the DT B-NP +assumption NN I-NP +of IN B-PP +Century NNP B-NP +'s POS B-NP +deposits NNS O +and CC O +fully RB B-ADJP +secured VBN I-ADJP +liabilities NNS B-NP +by IN B-PP +a DT B-NP +newly RB I-NP +chartered JJ I-NP +subsidiary NN I-NP +of IN B-PP +Valley NNP B-NP +Capital NNP I-NP +Corp. NNP I-NP +, , O +Las NNP B-NP +Vegas NNP I-NP +. . O + +The DT B-NP +new JJ I-NP +institution NN I-NP +is VBZ B-VP +also RB I-VP +called VBN I-VP +Century NNP B-NP +Bank NNP I-NP +, , O +and CC O +the DT B-NP +failed VBN I-NP +bank NN I-NP +'s POS B-NP +five CD I-NP +offices NNS I-NP +will MD B-VP +reopen VB I-VP +today NN B-NP +. . O + +The DT B-NP +failed VBN I-NP +bank NN I-NP +had VBD B-VP +assets NNS B-NP +of IN B-PP +about RB B-NP +$ $ I-NP +129.6 CD I-NP +million CD I-NP +. . O + +The DT B-NP +newly RB I-NP +chartered JJ I-NP +bank NN I-NP +will MD B-VP +assume VB I-VP +about RB B-NP +$ $ I-NP +125.7 CD I-NP +million CD I-NP +in IN B-PP +10,300 CD B-NP +deposit NN I-NP +accounts NNS I-NP +and CC O +pay VB B-VP +the DT B-NP +FDIC NNP I-NP +a DT B-NP +purchase NN I-NP +premium NN I-NP +of IN B-PP +$ $ B-NP +2.9 CD I-NP +million CD I-NP +. . O + +It PRP B-NP +also RB B-ADVP +will MD B-VP +buy VB I-VP +about RB B-NP +$ $ I-NP +91.7 CD I-NP +million CD I-NP +of IN B-PP +assets NNS B-NP +, , O +and CC O +the DT B-NP +FDIC NNP I-NP +will MD B-VP +advance VB I-VP +$ $ B-NP +31.8 CD I-NP +million CD I-NP +to TO B-PP +the DT B-NP +assuming VBG I-NP +bank NN I-NP +. . O + +Lonrho NNP B-NP +PLC NNP I-NP +of IN B-PP +Britain NNP B-NP +is VBZ B-VP +to TO B-VP +come VB I-VP +to TO B-PP +the DT B-NP +rescue NN I-NP +of IN B-PP +the DT B-NP +French JJ I-NP +distribution NN I-NP +group NN I-NP +Societe NNP I-NP +Commerciale NNP I-NP +de FW I-NP +l'Ouest NNP I-NP +Africaine NNP I-NP +in IN B-PP +an DT B-NP +operation NN I-NP +that WDT B-NP +has VBZ B-VP +been VBN I-VP +engineered VBN I-VP +with IN B-PP +the DT B-NP +Paribas NNP I-NP +financial JJ I-NP +group NN I-NP +, , O +Societe NNP B-NP +Commerciale NNP I-NP +'s POS B-NP +main JJ I-NP +shareholder NN I-NP +. . O + +The DT B-NP +announcement NN I-NP +came VBD B-VP +as IN B-SBAR +Societe NNP B-NP +Commerciale NNP I-NP +, , O +a DT B-NP +trading NN I-NP +company NN I-NP +with IN B-PP +activities NNS B-NP +in IN B-PP +more JJR B-NP +than IN I-NP +40 CD I-NP +countries NNS I-NP +, , O +reported VBD B-VP +a DT B-NP +loss NN I-NP +of IN B-PP +320.5 CD B-NP +million CD I-NP +francs NNS I-NP +-LRB- ( O +$ $ B-NP +51 CD I-NP +million CD I-NP +-RRB- ) O +for IN B-PP +the DT B-NP +first JJ I-NP +six CD I-NP +months NNS I-NP +of IN B-PP +this DT B-NP +year NN I-NP +, , O +partly RB B-PP +because IN I-PP +of IN I-PP +provisions NNS B-NP +on IN B-PP +future NN B-NP +losses NNS I-NP +. . O + +The DT B-NP +rescue NN I-NP +operation NN I-NP +will MD B-VP +consist VB I-VP +of IN B-PP +a DT B-NP +capital NN I-NP +boost NN I-NP +for IN B-PP +Societe NNP B-NP +Commerciale NNP I-NP +of IN B-PP +one CD B-NP +billion CD I-NP +francs NNS I-NP +through IN B-PP +issues NNS B-NP +of IN B-PP +new JJ B-NP +shares NNS I-NP +and CC O +convertible JJ B-NP +bonds NNS I-NP +. . O + +Cie NNP B-NP +. . I-NP +Financiere NNP I-NP +de FW I-NP +Paribas NNP I-NP +said VBD B-VP +it PRP B-NP +intends VBZ B-VP +to TO I-VP +transfer VB I-VP +its PRP$ B-NP +30 CD I-NP +% NN I-NP +shareholding NN I-NP +in IN B-PP +Societe NNP B-NP +Commerciale NNP I-NP +to TO B-PP +a DT B-NP +new JJ I-NP +company NN I-NP +which WDT B-NP +will MD B-VP +be VB I-VP +jointly RB I-VP +owned VBN I-VP +with IN B-PP +Lonrho NNP B-NP +. . O + +This DT B-NP +will MD B-VP +give VB I-VP +Paribas NNP B-NP +and CC I-NP +Lonrho NNP I-NP +joint JJ B-NP +control NN I-NP +of IN B-PP +Societe NNP B-NP +Commerciale NNP I-NP +. . O + +Paribas NNP B-NP +said VBD B-VP +Lonrho NNP B-NP +will MD B-VP +participate VB I-VP +in IN B-PP +the DT B-NP +forthcoming JJ I-NP +capital NN I-NP +boost NN I-NP +for IN B-PP +Societe NNP B-NP +Commerciale NNP I-NP +. . O + +International NNP B-NP +Business NNP I-NP +Machines NNP I-NP +Corp. NNP I-NP +and CC O +MCA NNP B-NP +Inc. NNP I-NP +said VBD B-VP +they PRP B-NP +agreed VBD B-VP +to TO I-VP +sell VB I-VP +their PRP$ B-NP +Discovision NNP I-NP +Associates NNPS I-NP +joint JJ I-NP +venture NN I-NP +to TO B-PP +U.S. NNP B-NP +units NNS I-NP +of IN B-PP +Pioneer NNP B-NP +Electronic NNP I-NP +Corp. NNP I-NP +for IN B-PP +$ $ B-NP +200 CD I-NP +million CD I-NP +. . O + +The DT B-NP +joint JJ I-NP +venture NN I-NP +licenses VBZ B-VP +a DT B-NP +portfolio NN I-NP +of IN B-PP +about IN B-NP +1,400 CD I-NP +patents NNS I-NP +and CC I-NP +patent NN I-NP +applications NNS I-NP +relating VBG B-VP +to TO B-PP +optical-disk JJ B-NP +recording NN I-NP +technology NN I-NP +. . O + +IBM NNP B-NP +and CC I-NP +MCA NNP I-NP +formed VBD B-VP +Discovision NNP B-NP +in IN B-PP +1979 CD B-NP +to TO B-VP +make VB I-VP +laser-read JJ B-NP +optical JJ I-NP +products NNS I-NP +. . O + +But CC O +the DT B-NP +partners NNS I-NP +did VBD B-VP +n't RB I-VP +believe VB I-VP +the DT B-NP +market NN I-NP +for IN B-PP +the DT B-NP +systems NNS I-NP +was VBD B-VP +developing VBG I-VP +as RB B-ADVP +rapidly RB I-ADVP +as IN B-SBAR +they PRP B-NP +had VBD B-VP +hoped VBN I-VP +. . O + +After IN B-PP +reportedly RB B-ADVP +investing VBG B-VP +$ $ B-NP +100 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +business NN I-NP +, , O +Discovision NNP B-NP +ceased VBD B-VP +manufacturing NN B-NP +operations NNS I-NP +in IN B-PP +1982 CD B-NP +and CC O +sold VBN B-VP +many NN B-NP +of IN B-PP +its PRP$ B-NP +assets NNS I-NP +to TO B-PP +Tokyo-based NNP B-NP +Pioneer NNP I-NP +, , O +among IN B-PP +others NNS B-NP +. . O + +Discovision NNP B-NP +now RB B-ADVP +has VBZ B-VP +world-wide JJ B-NP +license NN I-NP +agreements NNS I-NP +with IN B-PP +major JJ B-NP +manufacturers NNS I-NP +covering VBG B-VP +CD NNP B-NP +audio JJ I-NP +disks NNS I-NP +, , O +audio JJ B-NP +disk NN I-NP +players NNS I-NP +, , O +videodisks NNS B-NP +and CC O +videodisk NN B-NP +players NNS I-NP +. . O + +It PRP B-NP +also RB B-ADVP +licenses VBZ B-VP +optically RB B-NP +based VBN I-NP +data NNS I-NP +storage NN I-NP +and CC I-NP +retrieval NN I-NP +devices NNS I-NP +. . O + +James NNP B-NP +N. NNP I-NP +Fiedler NNP I-NP +, , O +president NN B-NP +of IN B-PP +Discovision NNP B-NP +and CC O +a DT B-NP +vice NN I-NP +president NN I-NP +of IN B-PP +MCA NNP B-NP +, , O +said VBD B-VP +that IN B-SBAR +IBM NNP B-NP +and CC I-NP +MCA NNP I-NP +had VBD B-VP +n't RB I-VP +planned VBN I-VP +to TO I-VP +sell VB I-VP +the DT B-NP +joint JJ I-NP +venture NN I-NP +, , O +which WDT B-NP +is VBZ B-VP +now RB B-ADVP +profitable JJ B-ADJP +, , O +but CC O +that IN B-SBAR +Pioneer NNP B-NP +approached VBD B-VP +Discovision NNP B-NP +earlier RBR B-NP +this DT I-NP +year NN I-NP +. . O + +He PRP B-NP +said VBD B-VP +it PRP B-NP +is VBZ B-VP +n't RB O +certain JJ B-ADJP +whether IN B-SBAR +Discovision NNP B-NP +'s POS B-NP +current JJ I-NP +management NN I-NP +will MD B-VP +remain VB I-VP +when WRB B-ADVP +Pioneer NNP B-NP +buys VBZ B-VP +the DT B-NP +company NN I-NP +. . O + +The DT B-NP +agreement NN I-NP +is VBZ B-VP +contingent JJ B-ADJP +on IN B-PP +certain JJ B-NP +government NN I-NP +approvals NNS I-NP +and CC O +should MD B-VP +be VB I-VP +completed VBN I-VP +later RB B-NP +this DT I-NP +year NN I-NP +. . O + +Tokyo NNP B-NP +stocks NNS I-NP +closed VBD B-VP +higher JJR B-ADVP +in IN B-PP +moderately RB B-NP +active JJ I-NP +but CC I-NP +directionless JJ I-NP +trading NN I-NP +as IN B-SBAR +the DT B-NP +recent JJ I-NP +anxiety NN I-NP +in IN B-PP +world NN B-NP +stock NN I-NP +markets NNS I-NP +continued VBD B-VP +to TO I-VP +fade VB I-VP +. . O + +London JJ B-NP +shares NNS I-NP +also RB B-ADVP +closed VBD B-VP +firmer JJR B-ADJP +in IN B-PP +thin JJ B-NP +trading NN I-NP +driven VBN B-VP +largely RB B-ADVP +by IN B-PP +technical JJ B-NP +factors NNS I-NP +and CC O +support NN B-NP +from IN B-PP +a DT B-NP +new JJ I-NP +Wall NNP I-NP +Street NNP I-NP +rally NN I-NP +. . O + +Prices NNS B-NP +also RB B-ADVP +rose VBD B-VP +on IN B-PP +almost RB B-NP +every DT I-NP +other JJ I-NP +major JJ I-NP +exchange NN I-NP +in IN B-PP +Europe NNP B-NP +, , O +Asia NNP B-NP +and CC O +the DT B-NP +Pacific NNP I-NP +. . O + +Tokyo NNP B-NP +'s POS B-NP +Nikkei NNP I-NP +index NN I-NP +of IN B-PP +225 CD B-NP +issues NNS I-NP +, , O +which WDT B-NP +gained VBD B-VP +111.48 CD B-NP +points NNS I-NP +Wednesday NNP B-NP +, , O +climbed VBD B-VP +266.66 CD B-NP +, , O +or CC O +0.76 CD B-NP +% NN I-NP +, , O +to TO B-PP +35374.22 CD B-NP +. . O + +Volume NN B-NP +on IN B-PP +the DT B-NP +first JJ I-NP +section NN I-NP +was VBD B-VP +estimated VBN I-VP +at IN B-PP +800 CD B-NP +million CD I-NP +shares NNS I-NP +, , O +compared VBN B-PP +with IN B-PP +841 CD B-NP +million CD I-NP +Wednesday NNP B-NP +. . O + +Winners NNS B-NP +outnumbered VBD B-VP +losers NNS B-NP +645-293 CD B-ADVP +, , O +with IN B-SBAR +186 CD B-NP +issues NNS I-NP +unchanged JJ B-ADJP +. . O + +In IN B-PP +early JJ B-NP +trading NN I-NP +in IN B-PP +Tokyo NNP B-NP +Friday NNP B-NP +, , O +the DT B-NP +Nikkei NNP I-NP +index NN I-NP +rose VBD B-VP +170.65 CD B-NP +points NNS I-NP +, , O +to TO B-PP +35544.87 CD B-NP +. . O + +On IN B-PP +Thursday NNP B-NP +, , O +the DT B-NP +Tokyo NNP I-NP +Stock NNP I-NP +Price NNP I-NP +Index NNP I-NP +of IN B-PP +all DT B-NP +issues NNS I-NP +listed VBN B-VP +in IN B-PP +the DT B-NP +first JJ I-NP +section NN I-NP +, , O +which WDT B-NP +gained VBD B-VP +0.24 CD B-NP +point NN I-NP +Wednesday NNP B-NP +, , O +was VBD B-VP +up IN B-ADVP +22.78 CD B-NP +, , O +or CC O +0.86 CD B-NP +% NN I-NP +, , O +at IN B-PP +2665.66 CD B-NP +. . O + +The DT B-NP +morning NN I-NP +session NN I-NP +was VBD B-VP +dominated VBN I-VP +by IN B-PP +individuals NNS B-NP +and CC I-NP +dealers NNS I-NP +, , O +but CC O +some DT B-NP +institutions NNS I-NP +participated VBD B-VP +in IN B-PP +the DT B-NP +afternoon NN I-NP +, , O +encouraged VBN B-VP +by IN B-PP +the DT B-NP +market NN I-NP +'s POS B-NP +firmness NN I-NP +, , O +traders NNS B-NP +said VBD B-VP +. . O + +Sentiment NN B-NP +was VBD B-VP +helped VBN I-VP +by IN B-PP +the DT B-NP +small JJ I-NP +gain NN I-NP +made VBN B-VP +by IN B-PP +New NNP B-NP +York NNP I-NP +stocks NNS I-NP +Wednesday NNP B-NP +despite IN B-PP +anxiety NN B-NP +over IN B-PP +possible JJ B-NP +effects NNS I-NP +of IN B-PP +the DT B-NP +major JJ I-NP +earthquake NN I-NP +that WDT B-NP +struck VBD B-VP +northern JJ B-NP +California NNP I-NP +Tuesday NNP B-NP +. . O + +Having VBG B-VP +survived VBN I-VP +both DT B-NP +last JJ B-NP +Friday NNP I-NP +'s POS B-NP +6.9 CD B-ADJP +% NN I-ADJP +Wall NNP B-NP +Street NNP I-NP +plunge NN I-NP +and CC O +the DT B-NP +immediate JJ I-NP +aftermath NN I-NP +of IN B-PP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +Bay NNP I-NP +area NN I-NP +earthquake NN I-NP +, , O +Tokyo NNP B-NP +market NN I-NP +participants NNS I-NP +expressed VBD B-VP +relief NN B-NP +that DT B-SBAR +trading NN B-NP +had VBD B-VP +returned VBN I-VP +to TO B-PP +normal JJ B-NP +. . O + +Hiroyuki NNP B-NP +Murai NNP I-NP +, , O +general JJ B-NP +manager NN I-NP +of IN B-PP +the DT B-NP +stock NN I-NP +trading NN I-NP +division NN I-NP +at IN B-PP +Nikko NNP B-NP +Securities NNP I-NP +, , O +said VBD B-VP +that IN B-SBAR +after IN B-PP +looking VBG B-VP +at IN B-PP +the DT B-NP +reasons NNS I-NP +for IN B-PP +Friday NNP B-NP +'s POS B-NP +Wall NNP I-NP +Street NNP I-NP +plunge NN I-NP +, , O +participants NNS B-NP +realized VBD B-VP +that IN B-SBAR +the DT B-NP +Tokyo NNP I-NP +and CC I-NP +New NNP I-NP +York NNP I-NP +markets NNS I-NP +have VBP B-VP +different JJ B-NP +economic JJ I-NP +fundamentals NNS I-NP +. . O + +This DT B-NP +conclusion NN I-NP +, , O +he PRP B-NP +said VBD B-VP +, , O +restored VBD B-VP +the DT B-NP +credibility NN I-NP +of IN B-PP +Tokyo NNP B-NP +stocks NNS I-NP +. . O + +Yoshiaki NNP B-NP +Mitsuoka NNP I-NP +, , O +head NN B-NP +of IN B-PP +the DT B-NP +investment NN I-NP +information NN I-NP +department NN I-NP +at IN B-PP +Daiwa NNP B-NP +Investment NNP I-NP +Trust NNP I-NP +& CC I-NP +Management NNP I-NP +, , O +said VBD B-VP +that IN B-SBAR +if IN B-SBAR +New NNP B-NP +York NNP I-NP +stocks NNS I-NP +just RB B-ADVP +fluctuate VBP B-VP +in IN B-PP +or CC I-PP +near IN I-PP +their PRP$ B-NP +current JJ I-NP +range NN I-NP +, , O +the DT B-NP +Tokyo NNP I-NP +market NN I-NP +will MD B-VP +remain VB I-VP +firm NN B-ADJP +with IN B-PP +a DT B-NP +moderately RB I-NP +upward JJ I-NP +trend NN I-NP +for IN B-PP +the DT B-NP +rest NN I-NP +of IN B-PP +the DT B-NP +year NN I-NP +. . O + +But CC O +traders NNS B-NP +said VBD B-VP +the DT B-NP +market NN I-NP +lacks VBZ B-VP +a DT B-NP +base NN I-NP +on IN B-PP +which WDT B-NP +to TO B-VP +set VB I-VP +long-term JJ B-NP +buying NN I-NP +strategy NN I-NP +, , O +as IN B-SBAR +the DT B-NP +future NN I-NP +direction NN I-NP +of IN B-PP +U.S. NNP B-NP +interest NN I-NP +rates NNS I-NP +remains VBZ B-VP +unclear JJ B-ADJP +. . O + +`` `` O +Investor NNP B-NP +interest NN I-NP +switches NNS B-VP +back RB B-ADVP +and CC I-ADVP +forth RB I-ADVP +ceaselessly RB B-ADVP +as IN B-SBAR +they PRP B-NP +are VBP B-VP +unable JJ B-ADJP +to TO B-VP +shift VB I-VP +their PRP$ B-NP +weight NN I-NP +to TO B-PP +one CD B-NP +side NN I-NP +for IN B-PP +sure JJ B-ADVP +, , O +'' '' O +Mr. NNP B-NP +Mitsuoka NNP I-NP +of IN B-PP +Daiwa NNP B-NP +Investment NNP I-NP +Trust NNP I-NP +said VBD B-VP +. . O + +Many JJ B-NP +of IN B-PP +Wednesday NNP B-NP +'s POS B-NP +winners NNS I-NP +were VBD B-VP +losers NNS B-NP +yesterday NN B-NP +as IN B-SBAR +investors NNS B-NP +quickly RB B-VP +took VBD I-VP +profits NNS B-NP +and CC O +rotated VBN B-VP +their PRP$ B-NP +buying NN I-NP +to TO B-PP +other JJ B-NP +issues NNS I-NP +, , O +traders NNS B-NP +said VBD B-VP +. . O + +Pharmaceuticals NNP B-NP +made VBD B-VP +across-the-board JJ B-NP +advances NNS I-NP +. . O + +Fujisawa NNP B-NP +Pharmaceutical NNP I-NP +gained VBD B-VP +130 CD B-NP +to TO B-PP +1,930 CD B-NP +yen NN I-NP +-LRB- ( O +$ $ B-NP +13.64 CD I-NP +-RRB- ) O +a DT B-NP +share NN I-NP +, , O +Mochida NNP B-NP +Pharmaceutical NNP I-NP +was VBD B-VP +up IN B-ADVP +150 CD B-NP +at IN B-PP +4,170 CD B-NP +, , O +and CC O +Eisai NNP B-NP +advanced VBD B-VP +60 CD B-NP +to TO B-PP +2,360 CD B-NP +. . O + +Housing NN B-NP +issues NNS I-NP +were VBD B-VP +boosted VBN I-VP +by IN B-PP +a DT B-NP +report NN I-NP +that IN B-SBAR +Daiwa NNP B-NP +House NNP I-NP +expects VBZ B-VP +to TO I-VP +post VB I-VP +43 CD B-ADVP +% NN I-ADVP +higher JJR B-NP +earnings NNS I-NP +for IN B-PP +its PRP$ B-NP +latest JJS I-NP +fiscal JJ I-NP +year NN I-NP +, , O +traders NNS B-NP +said VBD B-VP +. . O + +Daiwa NNP B-NP +House NNP I-NP +advanced VBD B-VP +100 CD B-NP +to TO B-PP +2,610 CD B-NP +, , O +Misawa NNP B-NP +Homes NNP I-NP +was VBD B-VP +up IN B-ADVP +60 CD B-NP +at IN B-PP +2,940 CD B-NP +, , O +and CC O +Sekisui NNP B-NP +House NNP I-NP +gained VBD B-VP +100 CD B-NP +to TO B-PP +2,490 CD B-NP +. . O + +Leading VBG B-NP +construction NN I-NP +companies NNS I-NP +also RB B-ADVP +attracted VBN B-VP +interest NN B-NP +for IN B-PP +their PRP$ B-NP +strong JJ I-NP +earnings NNS I-NP +outlooks NNS I-NP +, , O +traders NNS B-NP +said VBD B-VP +. . O + +They PRP B-NP +and CC O +many JJ B-NP +other JJ I-NP +major JJ I-NP +Japanese JJ I-NP +corporations NNS I-NP +will MD B-VP +issue VB I-VP +results NNS B-NP +soon RB B-ADVP +for IN B-PP +the DT B-NP +fiscal JJ I-NP +first JJ I-NP +half NN I-NP +ended VBN B-VP +Sept. NNP B-NP +30 CD I-NP +. . O + +Ohbayashi NNP B-NP +was VBD B-VP +up IN B-ADVP +60 CD B-NP +to TO B-VP +close VB I-VP +at IN B-PP +1,680 CD B-NP +, , O +Shimizu NNP B-NP +gained VBD B-VP +50 CD B-NP +to TO B-PP +2,120 CD B-NP +, , O +and CC O +Kumagai-Gumi NNP B-NP +advanced VBD B-VP +40 CD B-NP +to TO B-PP +1,490 CD B-NP +. . O + +Other JJ B-NP +winners NNS I-NP +included VBD B-VP +real JJ B-NP +estate NN I-NP +issues NNS I-NP +Mitsubishi NNP B-NP +Estate NNP I-NP +, , O +which WDT B-NP +closed VBD B-VP +at IN B-PP +2,500 CD B-NP +, , O +up IN B-ADVP +130 CD B-NP +, , O +and CC O +Mitsui NNP B-NP +Real NNP I-NP +Estate NNP I-NP +Development NNP I-NP +, , O +which WDT B-NP +gained VBD B-VP +100 CD B-NP +to TO B-PP +2,890 CD B-NP +. . O + +Steel NN B-NP +shares NNS I-NP +fell VBD B-VP +back RB B-ADVP +after IN B-PP +advancing VBG B-VP +for IN B-PP +three CD B-NP +days NNS I-NP +. . O + +Kawasaki NNP B-NP +Steel NNP I-NP +was VBD B-VP +down RB B-ADVP +11 CD B-NP +at IN B-PP +788 CD B-NP +, , O +Kobe NNP B-NP +Steel NNP I-NP +lost VBD B-VP +5 NN B-NP +to TO B-PP +723 CD B-NP +, , O +and CC O +Nippon NNP B-NP +Steel NNP I-NP +slipped VBD B-VP +6 CD B-NP +to TO B-PP +729 CD B-NP +. . O + +Mitsubishi NNP B-NP +Rayon NNP I-NP +, , O +a DT B-NP +leading VBG I-NP +advancer NN I-NP +Wednesday NNP B-NP +, , O +fell VBD B-VP +44 CD B-NP +to TO B-PP +861 CD B-NP +as IN B-SBAR +investors NNS B-NP +grabbed VBD B-VP +profits NNS B-NP +. . O + +London NNP B-NP +'s POS B-NP +Financial NNP I-NP +Times-Stock NNP I-NP +Exchange NNP I-NP +100-share JJ I-NP +index NN I-NP +finished VBD B-VP +19.2 CD B-NP +points NNS I-NP +higher JJR B-ADJP +at IN B-PP +2189.3 CD B-NP +. . O + +The DT B-NP +Financial NNP I-NP +Times NNP I-NP +30-share JJ I-NP +index NN I-NP +ended VBD B-VP +13.6 CD B-NP +higher JJR B-ADVP +at IN B-PP +1772.1 CD B-NP +. . O + +Volume NN B-NP +continued VBD B-VP +to TO I-VP +ease VB I-VP +from IN B-PP +the DT B-NP +active JJ I-NP +dealings NNS I-NP +at IN B-PP +the DT B-NP +start NN I-NP +of IN B-PP +the DT B-NP +week NN I-NP +. . O + +Turnover NN B-NP +was VBD B-VP +382.9 CD B-NP +million CD I-NP +shares NNS I-NP +, , O +compared VBN B-PP +with IN B-PP +449.3 CD B-NP +million CD I-NP +Wednesday NNP B-NP +. . O + +Dealers NNS B-NP +said VBD B-VP +the DT B-NP +market NN I-NP +was VBD B-VP +underpinned VBN I-VP +by IN B-PP +a DT B-NP +squeeze NN I-NP +in IN B-PP +FT-SE NNP B-NP +100 CD I-NP +stocks NNS I-NP +, , O +particularly RB B-PP +among IN I-PP +market-makers NNS B-NP +seeking VBG B-VP +shares NNS B-NP +that WDT B-NP +had VBD B-VP +been VBN I-VP +hit VBN I-VP +hard JJ B-ADVP +in IN B-PP +recent JJ B-NP +weeks NNS I-NP +, , O +such JJ B-PP +as IN I-PP +retailers NNS B-NP +and CC O +building-related JJ B-NP +concerns NNS I-NP +. . O + +But CC O +despite IN B-PP +the DT B-NP +flurry NN I-NP +of IN B-PP +interest NN B-NP +in IN B-PP +those DT B-NP +shares NNS I-NP +, , O +dealers NNS B-NP +said VBD B-VP +, , O +the DT B-NP +market NN I-NP +remains VBZ B-VP +nervous JJ B-ADJP +about IN B-PP +Wall NNP B-NP +Street NNP I-NP +'s POS B-NP +volatility NN I-NP +and CC O +high JJ B-NP +U.K. NNP I-NP +interest NN I-NP +rates NNS I-NP +. . O + +U.K. JJ B-NP +money NN I-NP +supply NN I-NP +figures NNS I-NP +for IN B-PP +September NNP B-NP +, , O +released VBN B-VP +yesterday NN B-NP +, , O +showed VBD B-VP +continued VBN B-NP +growth NN I-NP +in IN B-PP +corporate JJ B-NP +and CC I-NP +personal JJ I-NP +lending NN I-NP +, , O +which WDT B-NP +will MD B-VP +keep VB I-VP +pressure NN B-NP +on IN B-PP +the DT B-NP +government NN I-NP +to TO B-VP +maintain VB I-VP +tight JJ B-NP +credit NN I-NP +. . O + +Among IN B-PP +the DT B-NP +stocks NNS I-NP +featured VBN B-VP +in IN B-PP +the DT B-NP +market-makers NNS I-NP +' POS B-NP +squeeze NN I-NP +was VBD B-VP +Sears NNP B-NP +, , O +which WDT B-NP +closed VBD B-VP +at IN B-PP +107 CD B-NP +pence NN I-NP +-LRB- ( O +$ $ B-NP +1.70 CD I-NP +-RRB- ) O +a DT B-NP +share NN I-NP +, , O +up IN B-ADVP +3 CD B-NP +. . O + +General NNP B-NP +Universal NNP I-NP +Stores NNPS I-NP +, , O +another DT B-NP +top-tier JJ I-NP +stock NN I-NP +hit VBD B-VP +recently RB B-ADVP +by IN B-PP +concerns NNS B-NP +over IN B-PP +retail JJ B-NP +demand NN I-NP +in IN B-PP +the DT B-NP +face NN I-NP +of IN B-PP +high JJ B-NP +interest NN I-NP +rates NNS I-NP +, , O +gained VBD B-VP +20 CD B-NP +to TO B-PP +# # B-NP +10.44 CD I-NP +. . O + +Storehouse NNP B-NP +gained VBD B-VP +2 CD B-NP +to TO B-PP + +Another DT B-NP +active JJ I-NP +FT-SE NNP I-NP +100 CD I-NP +stock NN I-NP +was VBD B-VP +clothing NN B-NP +and CC I-NP +furniture NN I-NP +retailer NN I-NP +Burton NNP I-NP +, , O +which WDT B-NP +gained VBD B-VP +6 CD B-NP +to TO B-PP +196 CD B-NP +. . O + +Insurers NNS B-NP +recovered VBD B-VP +ground NN B-NP +again RB B-ADVP +on IN B-PP +market-maker NN B-NP +demand NN I-NP +and CC O +speculative JJ B-NP +buying NN I-NP +linked VBN B-VP +to TO B-PP +talk VB B-NP +of IN B-PP +mergers NNS B-NP +in IN B-PP +the DT B-NP +industry NN I-NP +before IN B-PP +the DT B-NP +European NNP I-NP +Community NNP I-NP +'s POS B-NP +planned VBN I-NP +market NN I-NP +unification NN I-NP +in IN B-PP + +Royal NNP B-NP +Insurance NNP I-NP +was VBD B-VP +the DT B-NP +sector NN I-NP +'s POS B-NP +hottest JJS I-NP +issue NN I-NP +, , O +ending VBG B-VP +15 CD B-NP +higher JJR B-ADJP +at IN B-PP +465 CD B-NP +. . O + +Sun NNP B-NP +Alliance NNP I-NP +fell VBD B-VP +1 CD B-NP +to TO B-VP +close VB I-VP +at IN B-PP +289 CD B-NP +, , O +and CC O +General NNP B-NP +Accident NNP I-NP +jumped VBD B-VP +10 CD B-NP +to TO B-PP +# # B-NP +10.13 CD I-NP +. . O + +B.A.T NNP B-NP +Industries NNPS I-NP +surged VBD B-VP +in IN B-PP +afternoon NN B-NP +dealings NNS I-NP +after IN B-SBAR +its PRP$ B-NP +shareholders NNS I-NP +approved VBD B-VP +a DT B-NP +plan NN I-NP +to TO B-VP +dispose VB I-VP +of IN B-PP +its PRP$ B-NP +U.S. NNP I-NP +and CC I-NP +U.K. NNP I-NP +retailing NN I-NP +operations NNS I-NP +to TO B-VP +fend VB I-VP +off IN B-PRT +Hoylake NNP B-NP +Investment NNP I-NP +'s POS B-NP +# # B-ADJP +13.4 CD O +billion CD O +-LRB- ( O +$ $ B-ADJP +21.33 CD O +billion CD O +-RRB- ) O +hostile JJ B-NP +bid NN I-NP +. . O + +With IN B-PP +the DT B-NP +company NN I-NP +also RB B-ADVP +exercising VBG B-VP +a DT B-NP +plan NN I-NP +to TO B-VP +buy VB I-VP +back RB B-ADVP +as RB B-NP +many JJ I-NP +as IN I-NP +10 CD I-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +shares NNS I-NP +outstanding JJ B-ADJP +, , O +B.A.T NNP B-NP +closed VBD B-VP +at IN B-PP +783 CD B-NP +, , O +up IN B-ADVP +27 CD B-NP +. . O + +Turnover NN B-NP +was VBD B-VP +6.8 CD B-NP +million CD I-NP +shares NNS I-NP +, , O +including VBG B-PP +about IN B-NP +four CD I-NP +million CD I-NP +shares NNS I-NP +traded VBN B-VP +in IN B-PP +the DT B-NP +afternoon NN I-NP +after IN B-PP +the DT B-NP +shareholders NNS I-NP +' POS B-NP +meeting NN I-NP +. . O + +B.A.T NNP B-NP +said VBD B-VP +it PRP B-NP +purchased VBD B-VP +2.5 CD B-NP +million CD I-NP +shares NNS I-NP +at IN B-PP +785 CD B-NP +. . O + +In IN B-PP +other JJ B-NP +European JJ I-NP +markets NNS I-NP +, , O +shares NNS B-NP +closed VBD B-VP +sharply RB B-ADJP +higher JJR I-ADJP +in IN B-PP +Stockholm NNP B-NP +, , I-NP +Frankfurt NNP I-NP +, , I-NP +Zurich NNP I-NP +and CC I-NP +Paris NNP I-NP +and CC O +higher JJR B-ADJP +in IN B-PP +Milan NNP B-NP +, , I-NP +Amsterdam NNP I-NP +and CC I-NP +Brussels NNP I-NP +. . O + +South JJ B-NP +African JJ I-NP +gold NN I-NP +stocks NNS I-NP +closed VBD B-VP +firmer JJR B-ADJP +. . O + +Prices NNS B-NP +also RB B-ADVP +closed VBD B-VP +higher JJR B-ADJP +in IN B-PP +Singapore NNP B-NP +, , O +Sydney NNP B-NP +, , O +Taipei NNP B-NP +, , O +Wellington NNP B-NP +, , O +Hong NNP B-NP +Kong NNP I-NP +and CC O +Manila NNP B-NP +but CC O +were VBD B-VP +lower JJR B-ADJP +in IN B-PP +Seoul NNP B-NP +. . O + +Here RB B-ADVP +are VBP B-VP +price NN B-NP +trends NNS I-NP +on IN B-PP +the DT B-NP +world NN I-NP +'s POS B-NP +major JJ I-NP +stock NN I-NP +markets NNS I-NP +, , O +as IN B-SBAR +calculated VBN B-VP +by IN B-PP +Morgan NNP B-NP +Stanley NNP I-NP +Capital NNP I-NP +International NNP I-NP +Perspective NNP I-NP +, , O +Geneva NNP B-NP +. . O + +To TO B-VP +make VB I-VP +them PRP B-NP +directly RB B-ADJP +comparable JJ I-ADJP +, , O +each DT B-NP +index NN I-NP +is VBZ B-VP +based VBN I-VP +on IN B-PP +the DT B-NP +close NN I-NP +of IN B-PP +1969 CD B-NP +equaling VBG B-VP +100 CD B-NP +. . O + +The DT B-NP +percentage NN I-NP +change NN I-NP +is VBZ B-VP +since IN B-PP +year-end NN B-NP +. . O + +The DT B-NP +federal JJ I-NP +response NN I-NP +to TO B-PP +California NNP B-NP +'s POS B-NP +earthquake NN I-NP +crisis NN I-NP +was VBD B-VP +marred VBN I-VP +by IN B-PP +coast-to-coast JJ B-NP +name-calling NN I-NP +between IN B-PP +the DT B-NP +White NNP I-NP +House NNP I-NP +and CC O +San NNP B-NP +Francisco NNP I-NP +'s POS B-NP +Mayor NNP I-NP +Art NNP I-NP +Agnos NNP I-NP +. . O + +Mr. NNP B-NP +Agnos NNP I-NP +complained VBD B-VP +that IN B-SBAR +he PRP B-NP +was VBD B-VP +`` `` I-VP +ticked VBD I-VP +off IN B-PRT +'' '' O +that IN B-SBAR +Vice NNP B-NP +President NNP I-NP +Dan NNP I-NP +Quayle NNP I-NP +, , O +who WP B-NP +toured VBD B-VP +the DT B-NP +earthquake NN I-NP +site NN I-NP +Wednesday NNP B-NP +, , O +did VBD B-VP +n't RB I-VP +schedule VB I-VP +a DT B-NP +private JJ I-NP +meeting NN I-NP +with IN B-PP +him PRP B-NP +. . O + +The DT B-NP +mayor NN I-NP +said VBD B-VP +the DT B-NP +Quayle NNP I-NP +visit NN I-NP +was VBD B-VP +`` `` O +a DT B-NP +publicity NN I-NP +stunt NN I-NP +. . O +'' '' O + +The DT B-NP +White NNP I-NP +House NNP I-NP +said VBD B-VP +Mr. NNP B-NP +Quayle NNP I-NP +'s POS B-NP +staff NN I-NP +had VBD B-VP +invited VBN I-VP +the DT B-NP +mayor NN I-NP +to TO B-PP +two CD B-NP +meetings NNS I-NP +of IN B-PP +the DT B-NP +vice NN I-NP +president NN I-NP +and CC O +groups NNS B-NP +of IN B-PP +local JJ B-NP +officials NNS I-NP +and CC O +had VBD B-VP +offered VBN I-VP +to TO I-VP +dispatch VB I-VP +a DT B-NP +helicopter NN I-NP +to TO B-VP +pick VB I-VP +him PRP B-NP +up RB B-PRT +. . O + +Mr. NNP B-NP +Agnos NNP I-NP +declined VBD B-VP +the DT B-NP +invitations NNS I-NP +, , O +the DT B-NP +White NNP I-NP +House NNP I-NP +said VBD B-VP +. . O + +Marlin NNP B-NP +Fitzwater NNP I-NP +, , O +White NNP B-NP +House NNP I-NP +press NN I-NP +secretary NN I-NP +, , O +also RB B-ADVP +asserted VBD B-VP +that IN B-SBAR +Mr. NNP B-NP +Agnos NNP I-NP +had VBD B-VP +failed VBN I-VP +to TO I-VP +return VB I-VP +telephone NN B-NP +calls VBZ I-NP +from IN B-PP +John NNP B-NP +Sununu NNP I-NP +, , O +White NNP B-NP +House NNP I-NP +chief NN I-NP +of IN B-PP +staff NN B-NP +. . O + +`` `` O +We PRP B-NP +regret VBP B-VP +very RB B-ADVP +much RB I-ADVP +that IN B-SBAR +the DT B-NP +mayor NN I-NP +of IN B-PP +San NNP B-NP +Francisco NNP I-NP +has VBZ B-VP +decided VBN I-VP +not RB O +to TO B-VP +cooperate VB I-VP +with IN B-PP +us PRP B-NP +on IN B-PP +this DT B-NP +matter NN I-NP +in IN B-PP +making VBG B-VP +sure JJ B-ADJP +that IN B-SBAR +there EX B-NP +is VBZ B-VP +adequate JJ B-NP +federal JJ I-NP +support NN I-NP +for IN B-PP +the DT B-NP +disaster NN I-NP +in IN B-PP +his PRP$ B-NP +city NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Fitzwater NNP I-NP +said VBD B-VP +. . O + +By IN B-PP +late JJ B-NP +yesterday NN I-NP +, , O +both DT B-NP +sides NNS I-NP +appeared VBD B-VP +prepared VBN I-VP +to TO I-VP +bury VB I-VP +the DT B-NP +hatchet NN I-NP +. . O + +The DT B-NP +White NNP I-NP +House NNP I-NP +announced VBD B-VP +that IN B-SBAR +Mr. NNP B-NP +Agnos NNP I-NP +, , O +along IN B-PP +with IN B-PP +the DT B-NP +mayors NNS I-NP +of IN B-PP +Oakland NNP B-NP +and CC I-NP +Alameda NNP I-NP +, , O +are VBP B-VP +to TO I-VP +accompany VB I-VP +President NNP B-NP +Bush NNP I-NP +on IN B-PP +a DT B-NP +tour NN I-NP +of IN B-PP +the DT B-NP +earthquake NN I-NP +area NN I-NP +today NN B-NP +. . O + +And CC O +one CD B-NP +White NNP I-NP +House NNP I-NP +official NN I-NP +reported VBD B-VP +that IN B-SBAR +Mr. NNP B-NP +Agnos NNP I-NP +had VBD B-VP +been VBN I-VP +`` `` O +very RB B-ADJP +helpful JJ I-ADJP +'' '' O +in IN B-PP +making VBG B-VP +arrangements NNS B-NP +for IN B-PP +Mr. NNP B-NP +Bush NNP I-NP +'s POS B-NP +hastily RB B-ADJP +scheduled VBN I-ADJP +trip NN B-NP +to TO B-PP +California NNP B-NP +. . O + +Gold NNP B-NP +and CC I-NP +silver NN I-NP +broker NN I-NP +Preston NNP I-NP +Semel NNP I-NP +asked VBD B-VP +a DT B-NP +federal JJ I-NP +court NN I-NP +to TO B-VP +halt VB I-VP +the DT B-NP +Commodity NNP I-NP +Exchange NNP I-NP +from IN B-PP +imposing VBG B-VP +a DT B-NP +record NN I-NP +$ $ I-NP +550,000 CD I-NP +fine JJ I-NP +on IN B-PP +his PRP$ B-NP +firm NN I-NP +. . O + +The DT B-NP +suit NN I-NP +, , O +filed VBN B-VP +in IN B-PP +federal JJ B-NP +court NN I-NP +in IN B-PP +Manhattan NNP B-NP +, , O +also RB B-ADVP +asks VBZ B-VP +that IN B-SBAR +the DT B-NP +Comex NNP I-NP +'s POS B-NP +nine-month JJ I-NP +suspension NN I-NP +of IN B-PP +Mr. NNP B-NP +Semel NNP I-NP +be VB B-VP +lifted VBN I-VP +, , O +pending VBG B-PP +the DT B-NP +broker NN I-NP +'s POS B-NP +appeal NN I-NP +of IN B-PP +the DT B-NP +disciplinary JJ I-NP +measures NNS I-NP +. . O + +The DT B-NP +fine NN I-NP +and CC I-NP +suspension NN I-NP +, , O +announced VBD B-VP +in IN B-PP +August NNP B-NP +, , O +are VBP B-VP +the DT B-NP +stiffest JJS I-NP +sanctions VBZ I-NP +the DT B-NP +Comex NNP I-NP +has VBZ B-VP +ever RB I-VP +ordered VBN I-VP +against IN B-PP +one CD B-NP +of IN B-PP +its PRP$ B-NP +members NNS I-NP +. . O + +The DT B-NP +Comex NNP I-NP +accused VBD B-VP +the DT B-NP +39-year-old NNP I-NP +Mr. NNP I-NP +Semel NNP I-NP +of IN B-PP +`` `` O +fraudulent JJ B-NP +conduct NN I-NP +'' '' O +and CC O +improper JJ B-NP +trading NN I-NP +. . O + +The DT B-NP +disciplinary JJ I-NP +proceedings NNS I-NP +stem VBP B-VP +from IN B-PP +trading NN B-NP +in IN B-PP +April NNP B-NP +1987 CD I-NP +. . O + +Mr. NNP B-NP +Semel NNP I-NP +and CC O +his PRP$ B-NP +firm NN I-NP +, , O +Semel NNP B-NP +& CC I-NP +Co. NNP I-NP +, , O +have VBP B-VP +appealed VBN I-VP +the DT B-NP +Comex NNP I-NP +decision NN I-NP +and CC O +the DT B-NP +sanctions NNS I-NP +to TO B-PP +the DT B-NP +Commodity NNP I-NP +Futures NNS I-NP +Trading NNP I-NP +Commission NNP I-NP +. . O + +The DT B-NP +commission NN I-NP +denied VBN B-VP +Mr. NNP B-NP +Semel NNP I-NP +'s POS B-NP +request NN I-NP +that IN B-SBAR +the DT B-NP +fine NN I-NP +and CC I-NP +suspension NN I-NP +be VB B-VP +delayed VBN I-VP +pending VBG B-PP +the DT B-NP +appeal NN I-NP +. . O + +The DT B-NP +lawsuit NN I-NP +states NNS B-VP +that IN B-SBAR +unless IN B-SBAR +the DT B-NP +sanctions NNS I-NP +are VBP B-VP +halted VBN I-VP +pending VBG B-PP +an DT B-NP +appeal NN I-NP +, , O +the DT B-NP +broker NN I-NP +and CC O +his PRP$ B-NP +firm NN I-NP +`` `` O +will MD B-VP +be VB I-VP +irreparably RB I-VP +injured VBN I-VP +and CC O +their PRP$ B-NP +business NN I-NP +will MD B-VP +be VB I-VP +totally RB I-VP +and CC I-VP +permanently RB I-VP +destroyed VBN I-VP +. . O +'' '' O + +Already RB B-ADVP +the DT B-NP +firm NN I-NP +has VBZ B-VP +paid VBN I-VP +$ $ B-NP +211,666 CD I-NP +of IN B-PP +the DT B-NP +fine NN I-NP +, , O +the DT B-NP +suit NN I-NP +said VBD B-VP +, , O +and CC O +it PRP B-NP +will MD B-VP +have VB I-VP +to TO I-VP +liquidate VB I-VP +additional JJ B-NP +assets NNS I-NP +in IN B-SBAR +order NN O +to TO B-VP +pay VB I-VP +the DT B-NP +rest NN I-NP +. . O + +A DT B-NP +spokesman NN I-NP +for IN B-PP +the DT B-NP +Comex NNP I-NP +could MD B-VP +n't RB I-VP +be VB I-VP +reached VBN I-VP +to TO B-VP +comment VB I-VP +. . O + +The DT B-NP +Federal NNP I-NP +National NNP I-NP +Mortgage NNP I-NP +Association NNP I-NP +said VBD B-VP +39 CD B-NP +lenders NNS I-NP +across IN B-PP +the DT B-NP +U.S. NNP I-NP +have VBP B-VP +agreed VBN I-VP +to TO I-VP +offer VB I-VP +home NN B-NP +loans NNS I-NP +under IN B-PP +Fannie NNP B-NP +Mae NNP I-NP +'s POS B-NP +pilot NN I-NP +program NN I-NP +for IN B-PP +elderly JJ B-NP +people NNS I-NP +. . O + +Fannie NNP B-NP +Mae NNP I-NP +, , O +a DT B-NP +federally RB I-NP +chartered JJ I-NP +and CC I-NP +shareholder-owned JJ I-NP +company NN I-NP +, , O +said VBD B-VP +the DT B-NP +lenders NNS I-NP +include VBP B-VP +Prudential NNP B-NP +Home NNP I-NP +Mortgage NNP I-NP +Co. NNP I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +Prudential NNP B-NP +Insurance NNP I-NP +Co. NNP I-NP +of IN B-PP +America NNP B-NP +that WDT B-NP +operates VBZ B-VP +in IN B-PP +every DT B-NP +state NN I-NP +. . O + +Prudential NNP B-NP +Insurance NNP I-NP +is VBZ B-VP +based VBN I-VP +in IN B-PP +Newark NNP B-NP +, , O +N.J NNP B-NP +. . O + +Fannie NNP B-NP +Mae NNP I-NP +has VBZ B-VP +agreed VBN I-VP +to TO I-VP +buy VB I-VP +as RB B-NP +much JJ I-NP +as IN I-NP +$ $ I-NP +100 CD I-NP +million CD I-NP +of IN B-PP +loans NNS B-NP +under IN B-PP +its PRP$ B-NP +Seniors NNS I-NP +' POS B-NP +Housing NNP I-NP +Opportunities NNS I-NP +pilot NN I-NP +program NN I-NP +, , O +which WDT B-NP +offers VBZ B-VP +four CD B-NP +types NNS I-NP +of IN B-PP +loans NNS B-NP +to TO B-PP +people NNS B-NP +62 CD B-NP +years NNS I-NP +of IN B-PP +age NN B-NP +or CC O +older JJR B-ADJP +to TO B-VP +help VB I-VP +them PRP B-NP +maintain VB B-VP +their PRP$ B-NP +home NN I-NP +or CC O +obtain VB B-VP +housing NN B-NP +. . O + +The DT B-NP +loans NNS I-NP +can MD B-VP +be VB I-VP +for IN B-PP +accessory NN B-NP +apartments NNS I-NP +, , O +for IN B-PP +cottages NNS B-NP +built VBN B-VP +in IN B-PP +a DT B-NP +relative NN I-NP +'s POS B-NP +yard NN I-NP +, , O +for IN B-PP +home-sharing NN B-NP +or CC B-PP +for IN B-PP +sale-lease-back JJ B-NP +transactions NNS I-NP +. . O + +Fannie NNP B-NP +Mae NNP I-NP +makes VBZ B-VP +a DT B-NP +secondary JJ I-NP +market NN I-NP +in IN B-PP +home NN B-NP +loans NNS I-NP +. . O + +It PRP B-NP +buys VBZ B-VP +loans NNS B-NP +from IN B-PP +lenders NNS B-NP +, , O +packages VBZ B-VP +some DT B-NP +into IN B-PP +securities NNS B-NP +for IN B-PP +sale NN B-NP +to TO B-PP +investors NNS B-NP +and CC O +holds VBZ B-VP +the DT B-NP +remainder NN I-NP +in IN B-PP +a DT B-NP +portfolio NN I-NP +. . O + +Robert NNP B-NP +M. NNP I-NP +Gintel NNP I-NP +, , O +senior JJ B-NP +partner NN I-NP +of IN B-PP +a DT B-NP +Greenwich NNP I-NP +, , I-NP +Conn. NNP I-NP +, , I-NP +investment NN I-NP +firm NN I-NP +, , O +said VBD B-VP +he PRP B-NP +plans VBZ B-VP +to TO I-VP +launch VB I-VP +a DT B-NP +proxy NN I-NP +fight NN I-NP +against IN B-PP +the DT B-NP +board NN I-NP +of IN B-PP +Boston-based JJ B-NP +Xtra NNP I-NP +Corp NNP I-NP +. . O + +Mr. NNP B-NP +Gintel NNP I-NP +, , O +head NN B-NP +of IN B-PP +Gintel NNP B-NP +& CC I-NP +Co. NNP I-NP +, , O +said VBD B-VP +he PRP B-NP +plans VBZ B-VP +to TO I-VP +conduct VB I-VP +a DT B-NP +proxy NN I-NP +contest NN I-NP +to TO B-VP +elect VB I-VP +a DT B-NP +majority NN I-NP +of IN B-PP +Xtra NNP B-NP +'s POS B-NP +board NN I-NP +at IN B-PP +the DT B-NP +next JJ I-NP +annual JJ I-NP +stockholders NNS I-NP +meeting NN I-NP +. . O + +Xtra NNP B-NP +, , O +a DT B-NP +transportation NN I-NP +leasing NN I-NP +company NN I-NP +, , O +said VBD B-VP +in IN B-PP +a DT B-NP +statement NN I-NP +it PRP B-NP +would MD B-VP +have VB I-VP +no DT B-NP +comment NN I-NP +on IN B-PP +Mr. NNP B-NP +Gintel NNP I-NP +'s POS B-NP +plans NNS I-NP +until IN B-SBAR +`` `` O +further JJ B-NP +information NN I-NP +has VBZ B-VP +been VBN I-VP +disclosed VBN I-VP +by IN B-PP +him PRP B-NP +. . O +'' '' O + +The DT B-NP +company NN I-NP +also RB B-ADVP +said VBD B-VP +its PRP$ B-NP +1990 CD I-NP +annual JJ I-NP +meeting NN I-NP +has VBZ B-VP +not RB I-VP +been VBN I-VP +scheduled VBN I-VP +. . O + +Mr. NNP B-NP +Gintel NNP I-NP +owns VBZ B-VP +300,000 CD B-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +6.3 CD I-NP +million CD I-NP +common JJ I-NP +shares NNS I-NP +outstanding JJ B-ADJP +. . O + +Xtra NNP B-NP +said VBD B-VP +it PRP B-NP +recently RB B-ADVP +bought VBD B-VP +back RB B-ADVP +approximately RB B-NP +55,000 CD I-NP +of IN B-PP +its PRP$ B-NP +shares NNS I-NP +pursuant JJ B-ADVP +to TO B-PP +its PRP$ B-NP +existing VBG I-NP +authorization NN I-NP +to TO B-VP +acquire VB I-VP +as RB B-NP +many JJ I-NP +as IN I-NP +650,000 CD I-NP +shares NNS I-NP +. . O + +Mr. NNP B-NP +Gintel NNP I-NP +has VBZ B-VP +filed VBN I-VP +suit NN B-NP +in IN B-PP +Delaware NNP B-NP +Chancery NNP I-NP +Court NNP I-NP +, , O +seeking VBG B-VP +to TO I-VP +block VB I-VP +Xtra NNP B-NP +'s POS B-NP +anti-takeover JJ I-NP +tactic NN I-NP +. . O + +In IN B-PP +a DT B-NP +filing NN I-NP +with IN B-PP +the DT B-NP +Securities NNP I-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +, , O +Mr. NNP B-NP +Gintel NNP I-NP +said VBD B-VP +Xtra NNP B-NP +`` `` O +has VBZ B-VP +pursued VBN I-VP +business NN B-NP +strategies NNS I-NP +that WDT B-NP +are VBP B-VP +n't RB O +in IN B-PP +the DT B-NP +best JJS I-NP +interest NN I-NP +of IN B-PP +stockholders NNS B-NP +. . O + +STOCKS NNS B-NP +AND CC I-NP +BONDS NNS I-NP +SURGED VBD B-VP +on IN B-PP +the DT B-NP +second JJ I-NP +anniversary NN I-NP +of IN B-PP +Black NNP B-NP +Monday NNP I-NP +as IN B-SBAR +a DT B-NP +favorable JJ I-NP +inflation NN I-NP +report NN I-NP +prompted VBD B-VP +speculation NN B-NP +of IN B-PP +lower JJR B-NP +interest NN I-NP +rates NNS I-NP +. . O + +The DT B-NP +Dow NNP I-NP +Jones NNP I-NP +industrials NNS I-NP +closed VBD B-VP +up IN B-ADVP +39.55 CD B-NP +, , O +at IN B-PP +2683.20 CD B-NP +, , O +after IN B-PP +rising VBG B-VP +over IN B-NP +60 CD I-NP +points NNS I-NP +in IN B-PP +mid-afternoon NN B-NP +. . O + +The DT B-NP +rally NN I-NP +brought VBD B-VP +the DT B-NP +gain NN I-NP +so RB B-ADVP +far RB I-ADVP +this DT B-NP +week NN I-NP +to TO B-PP +about IN B-NP +114 CD I-NP +points NNS I-NP +. . O + +The DT B-NP +dollar NN I-NP +finished VBD B-VP +mixed VBN B-ADJP +, , O +while IN B-SBAR +gold NN B-NP +declined VBD B-VP +. . O + +Consumer NN B-NP +prices NNS I-NP +climbed VBD B-VP +a DT B-NP +moderate JJ I-NP +0.2 CD I-NP +% NN I-NP +in IN B-PP +September NNP B-NP +, , O +mostly RB B-PP +due JJ I-PP +to TO B-PP +higher JJR B-NP +clothing NN I-NP +costs NNS I-NP +. . O + +Energy NN B-NP +prices NNS I-NP +continued VBD B-VP +to TO I-VP +fall VB I-VP +at IN B-PP +the DT B-NP +retail JJ I-NP +level NN I-NP +, , O +but CC O +economists NNS B-NP +worried VBN B-VP +about IN B-PP +a DT B-NP +big JJ I-NP +rise NN I-NP +in IN B-PP +wholesale JJ B-NP +energy NN I-NP +costs NNS I-NP +. . O + +British JJ B-NP +Airways NNPS I-NP +dropped VBD B-VP +out IN B-PP +of IN B-PP +the DT B-NP +current JJ I-NP +bidding NN I-NP +for IN B-PP +United NNP B-NP +Air NNP I-NP +'s POS B-NP +parent NN I-NP +, , O +leaving VBG B-VP +a DT B-NP +UAL NNP I-NP +management-pilots JJ I-NP +group NN I-NP +without IN B-PP +a DT B-NP +key JJ I-NP +partner NN I-NP +. . O + +British NNP B-NP +Air NNP I-NP +'s POS B-NP +move NN I-NP +raised VBD B-VP +new JJ B-NP +questions NNS I-NP +about IN B-PP +the DT B-NP +buy-out NN I-NP +group NN I-NP +'s POS B-NP +efforts NNS I-NP +to TO B-VP +revive VB I-VP +a DT B-NP +stalled VBN I-NP +bid NN I-NP +for IN B-PP +UAL NNP B-NP +. . O + +A DT B-NP +capital-gains NNS I-NP +tax-cut JJ I-NP +plan NN I-NP +was VBD B-VP +dropped VBN I-VP +by IN B-PP +Senate NNP B-NP +Democrats NNPS I-NP +under IN B-PP +pressure NN B-NP +from IN B-PP +their PRP$ B-NP +leadership NN I-NP +. . O + +The DT B-NP +move NN I-NP +is VBZ B-VP +a DT B-NP +setback NN I-NP +for IN B-PP +Bush NNP B-NP +, , O +who WP B-NP +needs VBZ B-VP +Democratic JJ B-NP +support NN I-NP +to TO B-VP +pass VB I-VP +a DT B-NP +capital-gains NNS I-NP +cut VBP I-NP +in IN B-PP +the DT B-NP +Senate NNP I-NP +. . O + +Other JJ B-NP +tax NN I-NP +breaks NNS I-NP +also RB B-ADVP +are VBP B-VP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +restored VBN I-VP +or CC I-VP +created VBN I-VP +in IN B-PP +the DT B-NP +coming VBG I-NP +months NNS I-NP +as IN B-SBAR +special JJ B-NP +interest NN I-NP +groups NNS I-NP +try VBP B-VP +to TO I-VP +undo VB I-VP +the DT B-NP +1986 CD I-NP +tax NN I-NP +overhaul NN I-NP +. . O + +Many JJ B-NP +retailers NNS I-NP +are VBP B-VP +worried VBN I-VP +that IN B-SBAR +a DT B-NP +price NN I-NP +war NN I-NP +could MD B-VP +erupt VB I-VP +this DT B-NP +Christmas NNP I-NP +if IN B-SBAR +cash-strapped JJ B-NP +firms NNS I-NP +such JJ B-PP +as IN I-PP +Campeau NNP B-NP +slash NN B-VP +prices NNS B-NP +to TO B-VP +spur VB I-VP +sales NNS B-NP +. . O + +AT&T NNP B-NP +unveiled VBD B-VP +a DT B-NP +sweetened VBN I-NP +early JJ I-NP +retirement NN I-NP +plan NN I-NP +for IN B-PP +management NN B-NP +that IN B-NP +the DT B-NP +company NN I-NP +hopes VBZ B-VP +will MD B-VP +save VB I-VP +it PRP B-NP +$ $ B-NP +450 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +next JJ I-NP +year NN I-NP +. . O + +Also RB B-ADVP +, , O +profit NN B-NP +rose VBD B-VP +19 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +. . O + +Chrysler NNP B-NP +will MD B-VP +idle VB I-VP +a DT B-NP +Toledo NNP I-NP +assembly NN I-NP +plant NN I-NP +temporarily RB B-ADVP +due JJ B-PP +to TO B-PP +slowing VBG B-NP +sales NNS I-NP +of IN B-PP +its PRP$ B-NP +profitable JJ I-NP +Jeep NNP I-NP +Cherokee NNP I-NP +and CC I-NP +Wagoneer NNP I-NP +sport NN I-NP +utility NN I-NP +vehicles NNS I-NP +. . O + +Digital NNP B-NP +Equipment NNP I-NP +'s POS B-NP +profit NN I-NP +fell VBD B-VP +32 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +latest JJS I-NP +quarter NN I-NP +, , O +prompting VBG B-VP +forecasts NNS B-NP +of IN B-PP +weaker JJR B-NP +results NNS I-NP +ahead RB B-ADVP +. . O + +Analysts NNS B-NP +were VBD B-VP +troubled JJ I-VP +by IN B-PP +signs NNS B-NP +of IN B-PP +flat JJ B-NP +U.S. NNP I-NP +orders NNS I-NP +at IN B-PP +the DT B-NP +computer NN I-NP +maker NN I-NP +. . O + +IBM NN B-NP +plans NNS B-VP +to TO I-VP +unveil VB I-VP +over IN B-NP +50 CD I-NP +software NN I-NP +products NNS I-NP +on IN B-PP +Tuesday NNP B-NP +to TO B-VP +try VB I-VP +to TO I-VP +end VB I-VP +some DT B-NP +of IN B-PP +the DT B-NP +problems NNS I-NP +in IN B-PP +computerizing VBG B-VP +manufacturing NN B-NP +operations NNS I-NP +. . O + +The DT B-NP +TV NN I-NP +units NNS I-NP +of IN B-PP +Paramount NNP B-NP +and CC I-NP +MCA NNP I-NP +are VBP B-VP +exploring VBG I-VP +offering NN I-VP +prime-time JJ B-NP +programming NN I-NP +to TO B-PP +independent JJ B-NP +stations NNS I-NP +two CD B-NP +nights NNS I-NP +a DT B-NP +week NN I-NP +. . O + +BankAmerica NNP B-NP +'s POS B-NP +profit NN I-NP +jumped VBD B-VP +34 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +. . O + +The DT B-NP +rapid JJ I-NP +recovery NN I-NP +continued VBD B-VP +to TO I-VP +be VB I-VP +fueled VBN I-VP +by IN B-PP +growth NN B-NP +in IN B-PP +consumer NN B-NP +loans NNS I-NP +, , O +higher JJR B-NP +interest NN I-NP +margins NNS I-NP +and CC O +only RB B-NP +minor JJ I-NP +loan NN I-NP +losses NNS I-NP +. . O + +Big NNP B-NP +Board NNP I-NP +short JJ I-NP +interest NN I-NP +fell VBD B-VP +4.2 CD B-NP +% NN I-NP +for IN B-PP +the DT B-NP +month NN I-NP +ended VBN B-VP +Oct. NNP B-NP +13 CD I-NP +, , O +the DT B-NP +second JJ I-NP +decline NN I-NP +in IN B-PP +a DT B-NP +row NN I-NP +. . O + +Borrowed VBN B-NP +shares NNS I-NP +on IN B-PP +the DT B-NP +Amex NNP I-NP +rose VBD B-VP +to TO B-PP +another DT B-NP +record NN I-NP +. . O + +Bell NNP B-NP +Atlantic NNP I-NP +posted VBD B-VP +a DT B-NP +strong JJ I-NP +earnings NNS I-NP +gain NN I-NP +for IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +, , O +as IN B-SBAR +did VBD O +Southern NNP B-NP +New NNP I-NP +England NNP I-NP +Telecommunications NNPS I-NP +. . O + +But CC O +Nynex NNP B-NP +, , O +Pacific NNP B-NP +Telesis NNP I-NP +and CC O +U NNP B-NP +S NNP I-NP +West NNP I-NP +had VBD B-VP +lower JJR B-NP +profits NNS I-NP +. . O + +B.A.T NNP B-NP +Industries NNPS I-NP +won VBD B-VP +shareholder NN B-NP +approval NN I-NP +for IN B-PP +a DT B-NP +defensive JJ I-NP +restructuring NN I-NP +to TO B-VP +fend VB I-VP +off IN B-PRT +Sir NNP B-NP +James NNP I-NP +Goldsmith NNP I-NP +. . O + +American NNP B-NP +Express NNP I-NP +'s POS B-NP +profit NN I-NP +climbed VBD B-VP +21 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +quarter NN I-NP +, , O +aided VBN B-VP +by IN B-PP +a DT B-NP +surge NN I-NP +in IN B-PP +its PRP$ B-NP +travel NN I-NP +business NN I-NP +and CC O +despite IN B-PP +a DT B-NP +big JJ I-NP +rise NN I-NP +in IN B-PP +Third NNP B-NP +World NNP I-NP +loan NN I-NP +reserves NNS I-NP +. . O + +Markets NNS B-NP +-- : O + +Stocks NNS B-NP +: : O +Volume NN B-NP +198,120,000 CD B-NP +shares NNS I-NP +. . O + +Dow NNP B-NP +Jones NNP I-NP +industrials NNS I-NP +2683.20 CD B-NP +, , O +up IN B-ADVP +39.55 CD B-NP +; : O +transportation NN B-NP +1263.51 CD B-NP +, , O +up IN B-ADVP +15.64 CD B-NP +; : O +utilities NNS B-NP +215.42 CD B-NP +, , O +up IN B-ADVP +1.45 CD B-NP +. . O + +Bonds NNS B-NP +: : O +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +Treasury NNP I-NP +index NN I-NP +3398.65 CD B-NP +, , O +up IN B-ADVP + +Commodities NNS B-NP +: : O +Dow NNP B-NP +Jones NNP I-NP +futures NNS I-NP +index NN I-NP +130.13 CD B-NP +, , O +up IN B-ADVP +0.23 CD B-NP +; : O +spot NN B-NP +index NN I-NP +130.46 CD B-NP +, , O +up IN B-ADVP +0.10 CD B-NP +. . O + +Dollar NN B-NP +: : O +141.70 CD B-NP +yen NN I-NP +, , O +up IN B-ADVP +0.25 CD B-NP +; : O +1.8470 CD B-NP +marks NNS I-NP +, , O +off IN B-ADVP +0.0015 CD B-NP +. . O + +Computer NNP B-NP +Sciences NNP I-NP +Corp. NNP I-NP +, , O +El NNP B-NP +Segundo NNP I-NP +, , O +Calif. NNP B-NP +, , O +said VBD B-VP +the DT B-NP +National NNP I-NP +Aeronautics NNP I-NP +and CC I-NP +Space NNP I-NP +Administration NNP I-NP +will MD B-VP +negotiate VB I-VP +details NNS B-NP +of IN B-PP +a DT B-NP +contract NN I-NP +valued VBN B-VP +at IN B-PP +about RB B-NP +$ $ I-NP +170 CD I-NP +million CD I-NP +to TO B-VP +provide VB I-VP +software NN B-NP +for IN B-PP +the DT B-NP +Ames NNP I-NP +Research NNP I-NP +Center NNP I-NP +. . O + +Included VBN B-VP +in IN B-PP +the DT B-NP +three-year JJ I-NP +contract NN I-NP +are VBP B-VP +options NNS B-NP +for IN B-PP +two CD B-NP +one-year JJ I-NP +renewals NNS I-NP +. . O + +NASA NNP B-NP +awarded VBD B-VP +the DT B-NP +contract NN I-NP +to TO B-PP +CSC NNP B-NP +in IN B-PP +November NNP B-NP +but CC O +an DT B-NP +appeal NN I-NP +by IN B-PP +Sterling NNP B-NP +Software NNP I-NP +Inc. NNP I-NP +of IN B-PP +Dallas NNP B-NP +sent VBD B-VP +the DT B-NP +contract NN I-NP +to TO B-PP +the DT B-NP +General NNP I-NP +Services NNP I-NP +Administration NNP I-NP +Board NNP I-NP +of IN B-PP +Contract NNP B-NP +Appeals NNPS I-NP +and CC O +the DT B-NP +board NN I-NP +required VBN B-VP +NASA NNP B-NP +to TO B-VP +re-evaluate VB I-VP +bidders NNS B-NP +' POS B-NP +proposals NNS I-NP +. . O + +Sterling NNP B-NP +had VBD B-VP +completed VBN I-VP +a DT B-NP +five-year JJ I-NP +contract NN I-NP +for IN B-PP +NASA NNP B-NP +but CC O +lost VBD B-VP +its PRP$ B-NP +bid NN I-NP +for IN B-PP +renewal NN B-NP +. . O + +As IN B-SBAR +directed VBN B-VP +by IN B-PP +the DT B-NP +board NN I-NP +, , O +NASA NNP B-NP +completed VBD B-VP +the DT B-NP +evaluation NN I-NP +and CC O +again RB B-VP +chose VBD I-VP +CSC NNP B-NP +. . O + +For IN B-PP +its PRP$ B-NP +fiscal JJ I-NP +year NN I-NP +ended VBN B-VP +March NNP B-NP +31 CD I-NP +, , O +CSC NNP B-NP +had VBD B-VP +revenue NN B-NP +of IN B-PP +$ $ B-NP +1.3 CD I-NP +billion CD I-NP +. . O + +AFTERSHOCKS NNS B-NP +RATTLED VBD B-VP +Northern NNP B-NP +California NNP I-NP +amid IN B-PP +an DT B-NP +earthquake NN I-NP +cleanup NN I-NP +. . O + +As IN B-SBAR +power NN B-NP +and CC I-NP +commuters NNS I-NP +returned VBD B-VP +to TO B-PP +much NN B-NP +of IN B-PP +downtown NN B-NP +San NNP I-NP +Francisco NNP I-NP +for IN B-PP +the DT B-NP +first JJ I-NP +time NN I-NP +since IN B-PP +Tuesday NNP B-NP +'s POS B-NP +temblor NN I-NP +in IN B-PP +the DT B-NP +Bay NNP I-NP +area NN I-NP +, , O +three CD B-NP +strong JJ I-NP +aftershocks NNS I-NP +, , O +one CD B-NP +measuring VBG B-VP +5.0 CD B-NP +on IN B-PP +the DT B-NP +Richter NNP I-NP +scale NN I-NP +, , O +jolted VBD B-VP +the DT B-NP +region NN I-NP +. . O + +Serious JJ B-NP +injuries NNS I-NP +or CC I-NP +damages NNS I-NP +were VBD B-VP +n't RB I-VP +reported VBN I-VP +. . O + +Californians NNS B-NP +, , O +meanwhile RB B-ADVP +, , O +tried VBD B-VP +to TO I-VP +cope VB I-VP +with IN B-PP +still-limited JJ B-NP +services NNS I-NP +, , O +blocked VBN B-NP +roadways NNS I-NP +and CC O +water NN B-NP +shortages NNS I-NP +in IN B-PP +the DT B-NP +aftermath NN I-NP +of IN B-PP +the DT B-NP +tremor NN I-NP +that WDT B-NP +left VBD B-VP +scores NNS B-NP +dead JJ B-ADJP +and CC I-ADJP +injured VBN I-ADJP +. . O + +Thousands NNS B-NP +remained VBD B-VP +homeless JJ B-ADJP +. . O + +Bush NNP B-NP +is VBZ B-VP +to TO B-VP +visit VB I-VP +the DT B-NP +area NN I-NP +today NN B-NP +, , O +and CC O +officials NNS B-NP +in IN B-PP +Washington NNP B-NP +estimated VBD B-VP +that DT B-SBAR +emergency NN B-NP +assistance NN I-NP +would MD B-VP +total VB I-VP +at IN B-NP +least JJS I-NP +$ $ I-NP +2.5 CD I-NP +billion CD I-NP +. . O + +A DT B-NP +series NN I-NP +of IN B-PP +earthquakes NNS B-NP +struck VBD B-VP +northern JJ B-NP +China NNP I-NP +, , O +killing VBG B-VP +at IN B-NP +least JJS I-NP +29 CD I-NP +people NNS I-NP +, , O +injuring VBG B-VP +hundreds NNS B-NP +and CC O +razing VBG B-VP +about IN B-NP +8,000 CD I-NP +homes NNS I-NP +, , O +the DT B-NP +Xinhua NNP I-NP +News NNP I-NP +Agency NNP I-NP +said VBD B-VP +. . O + +The DT B-NP +Senate NNP I-NP +rejected VBD B-VP +a DT B-NP +constitutional JJ I-NP +amendment NN I-NP +sought VBN B-VP +by IN B-PP +Bush NNP B-NP +to TO B-VP +prohibit VB I-VP +desecration NN B-NP +of IN B-PP +the DT B-NP +U.S. NNP I-NP +flag NN I-NP +. . O + +While IN B-SBAR +the DT B-NP +proposal NN I-NP +won VBD B-VP +a DT B-NP +slight JJ I-NP +majority NN I-NP +, , O +the DT B-NP +51-48 JJ I-NP +vote NN I-NP +was VBD B-VP +well JJ B-ADJP +short NN I-ADJP +of IN B-PP +the DT B-NP +two-thirds NNS I-NP +needed VBN B-VP +to TO B-VP +approve VB I-VP +changes NNS B-NP +in IN B-PP +the DT B-NP +Constitution NNP I-NP +. . O + +It PRP B-NP +was VBD B-VP +considered VBN I-VP +a DT B-NP +victory NN I-NP +for IN B-PP +Democratic JJ B-NP +leaders NNS I-NP +, , O +who WP B-NP +favor VBP B-VP +a DT B-NP +law NN I-NP +barring VBG B-VP +flag NN B-NP +burning VBG I-NP +. . O + +The DT B-NP +House NNP I-NP +approved VBD B-VP +an DT B-NP +$ $ I-NP +837 CD I-NP +million CD I-NP +aid NN I-NP +package NN I-NP +for IN B-PP +Poland NNP B-NP +and CC I-NP +Hungary NNP I-NP +, , O +nearly RB B-NP +double JJ I-NP +what WP I-NP +Bush NNP B-NP +had VBD B-VP +requested VBN I-VP +. . O + +The DT B-NP +vote NN I-NP +of IN B-PP +345-47 NN B-NP +sent VBD B-VP +the DT B-NP +measure NN I-NP +to TO B-PP +the DT B-NP +Senate NNP I-NP +. . O + +Britain NNP B-NP +'s POS B-NP +chief JJ I-NP +justice NN I-NP +quashed VBD B-VP +the DT B-NP +murder NN I-NP +convictions NNS I-NP +of IN B-PP +four CD B-NP +people NNS I-NP +for IN B-PP +Irish JJ B-NP +Republican NNP I-NP +Army NNP I-NP +bombings NNS I-NP +that WDT B-NP +killed VBD B-VP +seven CD B-NP +people NNS I-NP +in IN B-PP +1974 CD B-NP +. . O + +The DT B-NP +reversal NN I-NP +came VBD B-VP +after IN B-SBAR +the DT B-NP +government NN I-NP +conceded VBD B-VP +that IN B-SBAR +investigators NNS B-NP +may MD B-VP +have VB I-VP +faked VBN I-VP +evidence NN B-NP +. . O + +The DT B-NP +`` `` I-NP +Guildford NNP I-NP +Four CD I-NP +, , O +'' '' O +three CD B-NP +Irishmen NNPS I-NP +and CC O +an DT B-NP +Englishwoman NNP I-NP +, , O +have VBP B-VP +been VBN I-VP +imprisoned VBN I-VP +since IN B-PP +1975 CD B-NP +. . O + +The DT B-NP +Nobel NNP I-NP +Prize NNP I-NP +in IN B-PP +literature NN B-NP +was VBD B-VP +won VBN I-VP +by IN B-PP +Camilo NNP B-NP +Jose NNP I-NP +Cela NNP I-NP +, , O +a DT B-NP +Spanish JJ I-NP +writer NN I-NP +. . O + +His PRP$ B-NP +1942 CD I-NP +novel NN I-NP +`` `` O +The DT B-NP +Family NNP I-NP +of IN B-PP +Pascual NNP B-NP +Duarte NNP I-NP +'' '' O +is VBZ B-VP +considered VBN I-VP +the DT B-NP +most RBS I-NP +popular JJ I-NP +work NN I-NP +of IN B-PP +fiction NN B-NP +in IN B-PP +Spanish JJ B-NP +since IN B-SBAR +Cervantes NNP B-NP +'s POS B-NP +`` `` I-NP +Don NNP I-NP +Quixote NNP I-NP +'' '' O +was VBD B-VP +published VBN I-VP +400 CD B-NP +years NNS I-NP +ago RB B-ADVP +. . O + +The DT B-NP +Swedish NNP I-NP +Academy NNP I-NP +in IN B-PP +Stockholm NNP B-NP +cited VBD B-VP +the DT B-NP +73-year-old NNP I-NP +Cela NNP I-NP +for IN B-PP +`` `` O +rich JJ B-NP +and CC I-NP +intensive JJ I-NP +prose NN I-NP +. . O +'' '' O + +The DT B-NP +editor NN I-NP +of IN B-PP +Pravda NNP B-NP +was VBD B-VP +dismissed VBN I-VP +and CC O +succeeded VBN B-VP +by IN B-PP +a DT B-NP +confidant NN I-NP +of IN B-PP +Soviet JJ B-NP +leader NN I-NP +Gorbachev NNP I-NP +. . O + +The DT B-NP +action NN I-NP +at IN B-PP +the DT B-NP +Communist NNP I-NP +Party NNP I-NP +daily JJ I-NP +, , O +viewed VBN B-VP +as IN B-PP +the DT B-NP +Soviet NNP I-NP +Union NNP I-NP +'s POS B-NP +most RBS I-NP +authoritative JJ I-NP +newspaper NN I-NP +, , O +was VBD B-VP +considered VBN I-VP +the DT B-NP +most RBS I-NP +significant JJ I-NP +development NN I-NP +in IN B-PP +a DT B-NP +week NN I-NP +of IN B-PP +Kremlin NNP B-NP +wrangling VBG I-NP +over IN B-PP +the DT B-NP +press NN I-NP +, , O +including VBG B-PP +sharp JJ B-NP +criticism NN I-NP +from IN B-PP +Gorbachev NNP B-NP +. . O + +East NNP B-NP +Germany NNP I-NP +'s POS B-NP +new JJ I-NP +leader NN I-NP +met VBD B-VP +with IN B-PP +Lutheran NNP B-NP +Church NNP I-NP +officials NNS I-NP +to TO B-VP +discuss VB I-VP +a DT B-NP +growing VBG I-NP +opposition NN I-NP +movement NN I-NP +demanding VBG B-VP +democratic JJ B-NP +freedoms NNS I-NP +. . O + +As IN B-SBAR +they PRP B-NP +conferred VBD B-VP +near IN B-PP +East NNP B-NP +Berlin NNP I-NP +, , O +a DT B-NP +pro-democracy JJ I-NP +protest NN I-NP +erupted VBD B-VP +in IN B-PP +the DT B-NP +Baltic JJ I-NP +city NN I-NP +of IN B-PP +Greifswald NNP B-NP +, , O +and CC O +activists NNS B-NP +threatened VBD B-VP +further JJ B-NP +rallies NNS I-NP +against IN B-PP +leader NN B-NP +Krenz NNP I-NP +'s POS B-NP +expected VBN I-NP +hard-line JJ I-NP +policies NNS I-NP +. . O + +Police NNS B-NP +in IN B-PP +Prague NNP B-NP +raided VBD B-VP +an DT B-NP +international JJ I-NP +meeting NN I-NP +on IN B-PP +human JJ B-NP +rights NNS I-NP +, , O +detaining VBG B-VP +Czechoslovakia NNP B-NP +'s POS B-NP +former JJ I-NP +foreign JJ I-NP +minister NN I-NP +, , O +Jiri NNP B-NP +Hajak NNP I-NP +, , O +and CC O +14 CD B-NP +other JJ I-NP +activists NNS I-NP +. . O + +A DT B-NP +leading VBG I-NP +U.S. NNP I-NP +human-rights JJ I-NP +monitor NN I-NP +also RB B-ADVP +was VBD B-VP +briefly NN I-VP +held VBN I-VP +. . O + +Dissident JJ B-NP +playwright NN I-NP +Vaclav NNP I-NP +Havel NNP I-NP +reportedly RB B-ADVP +escaped VBD B-VP +the DT B-NP +crackdown NN I-NP +, , O +the DT B-NP +fourth JJ I-NP +against IN B-PP +activists NNS B-NP +in IN B-PP +recent JJ B-NP +days NNS I-NP +. . O + +Bush NNP B-NP +met VBD B-VP +in IN B-PP +Washington NNP B-NP +with IN B-PP +Spain NNP B-NP +'s POS B-NP +Prime NNP I-NP +Minister NNP I-NP +Gonzalez NNP I-NP +and CC O +discussed VBN B-VP +what WP B-NP +the DT B-NP +president NN I-NP +called VBN B-VP +`` `` O +the DT B-NP +unique JJ I-NP +role NN I-NP +'' '' O +that IN B-NP +Madrid NNP B-NP +can MD B-VP +play VB I-VP +in IN B-PP +furthering VBG B-VP +democracy NN B-NP +in IN B-PP +Eastern NNP B-NP +Europe NNP I-NP +and CC O +Latin NNP B-NP +America NNP I-NP +. . O + +Gonzalez NNP B-NP +, , O +who WP B-NP +pledged VBD B-VP +to TO I-VP +help VB I-VP +monitor VB I-VP +voting NN B-NP +in IN B-PP +Nicaragua NNP B-NP +, , O +was VBD B-VP +said VBD I-VP +to TO I-VP +be VB I-VP +carrying VBG I-VP +proposals NNS B-NP +for IN B-PP +free JJ B-NP +elections NNS I-NP +in IN B-PP +Panama NNP B-NP +. . O + +The DT B-NP +Galileo NNP I-NP +spacecraft NN I-NP +sped VBD B-VP +unerringly RB B-ADVP +toward IN B-PP +the DT B-NP +planet NN I-NP +Jupiter NNP I-NP +, , O +while IN B-SBAR +five CD B-NP +astronauts NNS I-NP +aboard IN B-PP +the DT B-NP +space NN I-NP +shuttle NN I-NP +Atlantis NNP I-NP +measured VBD B-VP +the DT B-NP +Earth NNP I-NP +'s POS B-NP +ozone NN I-NP +layer NN I-NP +. . O + +The DT B-NP +robot NN I-NP +probe NN I-NP +was VBD B-VP +dispatched VBN I-VP +Wednesday NNP B-NP +by IN B-PP +the DT B-NP +shuttle NN I-NP +crew NN I-NP +, , O +which WDT B-NP +is VBZ B-VP +to TO B-VP +conduct VB I-VP +a DT B-NP +series NN I-NP +of IN B-PP +medical JJ B-NP +and CC I-NP +other JJ I-NP +experiments NNS I-NP +before IN B-PP +their PRP$ B-NP +scheduled VBN I-NP +landing NN I-NP +Monday NNP B-NP +in IN B-PP +California NNP B-NP +. . O + +Argentina NNP B-NP +and CC I-NP +Britain NNP I-NP +agreed VBD B-VP +to TO I-VP +resume VB I-VP +diplomatic JJ B-NP +and CC I-NP +economic JJ I-NP +relations NNS I-NP +, , O +seven CD B-NP +years NNS I-NP +after IN B-SBAR +the DT B-NP +two CD I-NP +nations NNS I-NP +battled VBD B-VP +over IN B-PP +the DT B-NP +Falkland NNP I-NP +Islands NNPS I-NP +. . O + +The DT B-NP +announcement NN I-NP +, , O +in IN B-PP +which WDT B-NP +they PRP B-NP +said VBD B-VP +hostilities NNS B-NP +had VBD B-VP +ceased VBN I-VP +, , O +followed VBD B-VP +a DT B-NP +two-day JJ I-NP +meeting NN I-NP +in IN B-PP +Madrid NNP B-NP +. . O + +Rebel NN B-NP +artillerists NNS I-NP +bombarded VBD B-VP +the DT B-NP +capital NN I-NP +of IN B-PP +Afghanistan NNP B-NP +, , O +killing VBG B-VP +at IN B-NP +least JJS I-NP +12 CD I-NP +people NNS I-NP +, , O +as IN B-SBAR +the DT B-NP +Soviet NNP I-NP +Union NNP I-NP +was VBD B-VP +reported VBN I-VP +to TO I-VP +be VB I-VP +airlifting VBG I-VP +arms NNS B-NP +and CC I-NP +food NN I-NP +to TO B-PP +Kabul NNP B-NP +'s POS B-NP +forces NNS I-NP +. . O + +Fighting NNP B-NP +also RB B-ADVP +was VBD B-VP +reported VBN I-VP +around IN B-PP +the DT B-NP +strategic JJ I-NP +town NN I-NP +of IN B-PP +Khost NNP B-NP +, , O +near IN B-PP +the DT B-NP +Pakistani JJ I-NP +border NN I-NP +. . O + +Saudi NNP B-NP +Arabia NNP I-NP +'s POS B-NP +foreign JJ I-NP +minister NN I-NP +met VBD B-VP +in IN B-PP +Damascus NNP B-NP +with IN B-PP +President NNP B-NP +Assad NNP I-NP +to TO B-VP +develop VB I-VP +a DT B-NP +plan NN I-NP +for IN B-PP +the DT B-NP +withdrawal NN I-NP +of IN B-PP +Syria NNP B-NP +'s POS B-NP +40,000 CD I-NP +troops NNS I-NP +from IN B-PP +Lebanon NNP B-NP +as IN B-PP +part NN B-NP +of IN B-PP +a DT B-NP +settlement NN I-NP +of IN B-PP +that DT B-NP +nation NN I-NP +'s POS B-NP +14-year-old JJ I-NP +civil JJ I-NP +war NN I-NP +. . O + +The DT B-NP +talks NNS I-NP +came VBD B-VP +as IN B-SBAR +Lebanese JJ B-NP +negotiations NNS I-NP +on IN B-PP +political JJ B-NP +changes NNS I-NP +appeared VBD B-VP +deadlocked VBN B-ADJP +. . O + +GOP NNP B-NP +Sen. NNP I-NP +Specter NNP I-NP +of IN B-PP +Pennsylvania NNP B-NP +said VBD B-VP +he PRP B-NP +would MD B-VP +vote VB I-VP +to TO I-VP +acquit VB I-VP +federal JJ B-NP +Judge NNP I-NP +Alcee NNP I-NP +Hastings NNP I-NP +in IN B-PP +his PRP$ B-NP +impeachment NN I-NP +trial NN I-NP +on IN B-PP +charges NNS B-NP +of IN B-PP +perjury NN B-NP +and CC O +bribery NN B-NP +conspiracy NN I-NP +. . O + +Specter NNP B-NP +, , O +the DT B-NP +vice NN I-NP +chairman NN I-NP +of IN B-PP +the DT B-NP +Senate NNP I-NP +'s POS B-NP +evidence NN I-NP +panel NN I-NP +, , O +said VBD B-VP +there EX B-NP +was VBD B-VP +`` `` O +insufficient JJ B-NP +evidence NN I-NP +to TO B-VP +convict VB I-VP +'' '' O +the DT B-NP +Miami NNP I-NP +jurist NN I-NP +. . O + +After IN B-PP +slipping VBG B-VP +on IN B-PP +news NN B-NP +of IN B-PP +a DT B-NP +smaller-than-expected JJ I-NP +U.S. NNP I-NP +inflation NN I-NP +figure NN I-NP +, , O +the DT B-NP +dollar NN I-NP +rebounded VBD B-VP +later RB B-ADVP +in IN B-PP +the DT B-NP +trading NN I-NP +day NN I-NP +. . O + +The DT B-NP +U.S. NNP I-NP +unit NN I-NP +dipped VBD B-VP +to TO B-PP +a DT B-NP +session NN I-NP +low JJ I-NP +against IN B-PP +the DT B-NP +mark NN I-NP +just RB B-PP +after IN I-PP +the DT B-NP +release NN I-NP +of IN B-PP +the DT B-NP +U.S. NNP I-NP +consumer NN I-NP +price NN I-NP +index NN I-NP +. . O + +The DT B-NP +report NN I-NP +showed VBD B-VP +that IN B-SBAR +September NNP B-NP +consumer NN I-NP +prices NNS I-NP +rose VBD B-VP +just RB B-NP +0.2 CD I-NP +% NN I-NP +, , O +a DT B-NP +smaller JJR I-NP +increase NN I-NP +than IN B-SBAR +expected VBN B-VP +. . O + +The DT B-NP +market NN I-NP +had VBD B-VP +anticipated VBN I-VP +a DT B-NP +0.4 CD I-NP +% NN I-NP +rise NN I-NP +in IN B-PP +the DT B-NP +price NN I-NP +index NN I-NP +. . O + +The DT B-NP +September NNP I-NP +index NN I-NP +fueled VBD B-VP +speculation NN B-NP +, , O +damaging JJ B-ADJP +to TO B-PP +the DT B-NP +dollar NN I-NP +, , O +that IN B-SBAR +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +soon RB B-ADVP +will MD B-VP +ease VB I-VP +monetary JJ B-NP +policy NN I-NP +further JJ B-ADVP +. . O + +But CC O +foreign-exchange JJ B-NP +dealers NNS I-NP +said VBD B-VP +the DT B-NP +dollar NN I-NP +staged VBD B-VP +a DT B-NP +quick JJ I-NP +comeback NN I-NP +, , O +prompted VBN B-VP +by IN B-PP +a DT B-NP +round NN I-NP +of IN B-PP +short JJ B-NP +covering NN I-NP +and CC O +some DT B-NP +fresh JJ I-NP +buying NN I-NP +interest NN I-NP +later RB B-ADVP +in IN B-PP +the DT B-NP +trading NN I-NP +day NN I-NP +. . O + +Traders NNS B-NP +said VBD B-VP +that IN B-SBAR +a DT B-NP +nearly RB I-NP +40-point JJ I-NP +gain NN I-NP +in IN B-PP +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +, , O +fueled VBN B-VP +in IN B-PP +part NN B-NP +by IN B-PP +news NN B-NP +of IN B-PP +a DT B-NP +lower-than-expected JJ I-NP +price NN I-NP +index NN I-NP +, , O +had VBD B-VP +little JJ B-NP +influence NN I-NP +on IN B-PP +the DT B-NP +dollar NN I-NP +'s POS B-NP +moves NNS I-NP +. . O + +`` `` O +The DT B-NP +market NN I-NP +is VBZ B-VP +beginning VBG I-VP +to TO I-VP +disassociate VB I-VP +itself PRP B-NP +from IN B-PP +Wall NNP B-NP +Street NNP I-NP +, , O +'' '' O +said VBD B-VP +one CD B-NP +New NNP I-NP +York NNP I-NP +trader NN I-NP +. . O + +In IN B-PP +late JJ B-NP +New NNP I-NP +York NNP I-NP +trading NN I-NP +yesterday NN B-NP +, , O +the DT B-NP +dollar NN I-NP +was VBD B-VP +quoted VBN I-VP +at IN B-PP +1.8470 CD B-NP +marks NNS I-NP +, , O +down RB B-ADVP +from IN B-PP +1.8485 CD B-NP +marks NNS I-NP +late JJ B-NP +Wednesday NNP I-NP +, , B-PP +and CC I-PP +at IN B-PP +141.70 CD B-NP +yen NN I-NP +, , O +up IN B-ADVP +from IN B-PP +141.45 CD B-NP +yen NN I-NP +late JJ B-NP +Wednesday NNP I-NP +. . O + +Sterling NNP B-NP +was VBD B-VP +quoted VBN I-VP +at IN B-PP +$ $ B-NP +1.5990 CD I-NP +, , O +up IN B-ADVP +from IN B-PP +$ $ B-NP +1.5920 CD I-NP +late JJ B-NP +Wednesday NNP I-NP +. . O + +In IN B-PP +Tokyo NNP B-NP +Friday NNP B-NP +, , O +the DT B-NP +U.S. NNP I-NP +currency NN I-NP +opened VBD B-VP +for IN B-PP +trading NN B-NP +at IN B-PP +141.93 CD B-NP +yen NN I-NP +, , O +up IN B-ADVP +from IN B-PP +Thursday NNP B-NP +'s POS B-NP +Tokyo NNP I-NP +close NN I-NP +of IN B-PP +141.55 CD B-NP +yen NN I-NP +. . O + +Some DT B-NP +analysts NNS I-NP +said VBD B-VP +the DT B-NP +consumer NN I-NP +price NN I-NP +index NN I-NP +reflects VBZ B-VP +a DT B-NP +more RBR I-NP +significant JJ I-NP +slowdown NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +economy NN I-NP +than IN B-SBAR +earlier RBR B-ADVP +indicated VBD B-VP +. . O + +They PRP B-NP +point VBP B-VP +out RP B-PRT +that IN B-SBAR +September NNP B-NP +'s POS B-NP +producer-price JJ I-NP +index NN I-NP +showed VBD B-VP +a DT B-NP +0.9 CD I-NP +% NN I-NP +increase NN I-NP +. . O + +They PRP B-NP +noted VBD B-VP +that IN B-SBAR +because IN B-SBAR +the DT B-NP +consumer NN I-NP +price NN I-NP +index NN I-NP +, , O +known VBN B-VP +as IN B-PP +the DT B-NP +CPI NNP I-NP +, , O +is VBZ B-VP +a DT B-NP +more RBR I-NP +comprehensive JJ I-NP +measure NN I-NP +of IN B-PP +inflation NN B-NP +and CC O +is VBZ B-VP +rising VBG I-VP +less RBR B-ADVP +rapidly RB I-ADVP +than IN B-PP +the DT B-NP +producer-price JJ I-NP +index NN I-NP +, , O +or CC O +PPI NNP B-NP +, , O +it PRP B-NP +could MD B-VP +signal VB I-VP +further JJ B-NP +easing NN I-NP +by IN B-PP +Fed NNP B-NP +. . O + +Others NNS B-NP +suggested VBD B-VP +, , O +however RB B-ADVP +, , O +that IN B-SBAR +the DT B-NP +Fed NNP I-NP +will MD B-VP +hold VB I-VP +any DT B-NP +changes NNS I-NP +in IN B-PP +monetary JJ B-NP +policy NN I-NP +in IN B-PP +check NN B-NP +, , O +leaving VBG B-VP +fed VBN B-NP +funds NNS I-NP +at IN B-PP +around IN B-NP +8 CD I-NP +3\/4 CD I-NP +% NN I-NP +, , O +down RB B-ADVP +from IN B-PP +the DT B-NP +9 CD I-NP +% NN I-NP +level NN I-NP +that WDT B-NP +prevailed VBD B-VP +from IN B-PP +July NNP B-NP +through IN B-PP +September NNP B-NP +. . O + +Kevin NNP B-NP +Logan NNP I-NP +, , O +chief JJ B-NP +economist NN I-NP +with IN B-PP +the DT B-NP +Swiss NNP I-NP +Bank NNP I-NP +Corp. NNP I-NP +, , O +said VBD B-VP +that IN B-SBAR +both DT B-NP +PPI NNP I-NP +and CC I-NP +CPI NNP I-NP +climbed VBD B-VP +around IN B-NP +4 CD I-NP +1\/2 CD I-NP +% NN I-NP +year-to-year JJ B-ADJP +in IN B-PP +September NNP B-NP +. . O + +He PRP B-NP +argued VBD B-VP +that IN B-SBAR +both DT B-NP +CPI NNP I-NP +and CC I-NP +PPI NNP I-NP +have VBP B-VP +in IN B-PP +fact NN B-NP +decelerated VBN B-VP +since IN B-PP +spring NN B-NP +. . O + +`` `` O +The DT B-NP +Fed NNP I-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +stampeded VBN I-VP +into IN B-PP +easing VBG B-NP +, , O +'' '' O +Mr. NNP B-NP +Logan NNP I-NP +said VBD B-VP +, , O +predicting VBG B-VP +that IN B-SBAR +for IN B-PP +now RB B-NP +, , O +interest NN B-NP +rates NNS I-NP +will MD B-VP +stay VB I-VP +where WRB B-ADVP +they PRP B-NP +are VBP B-VP +. . O + +A DT B-NP +four-day JJ I-NP +matched VBN I-NP +sale-purchase NN I-NP +agreement NN I-NP +, , O +a DT B-NP +move NN I-NP +to TO B-VP +drain VB I-VP +liquidity NN B-NP +from IN B-PP +the DT B-NP +system NN I-NP +, , O +was VBD B-VP +viewed VBN I-VP +as IN B-PP +a DT B-NP +technical JJ I-NP +move NN I-NP +, , O +rather RB B-CONJP +than IN I-CONJP +an DT B-NP +indication NN I-NP +of IN B-PP +tightening VBG B-NP +credit NN I-NP +. . O + +Market NN B-NP +participants NNS I-NP +note VBP B-VP +that IN B-SBAR +the DT B-NP +mark NN I-NP +continues VBZ B-VP +to TO I-VP +post VB I-VP +heftier JJR B-NP +gains NNS I-NP +against IN B-PP +its PRP$ B-NP +U.S. NNP I-NP +counterpart NN I-NP +than IN B-PP +any DT B-NP +other JJ I-NP +major JJ I-NP +currency NN I-NP +, , O +particularly RB B-ADVP +the DT B-NP +yen NN I-NP +. . O + +`` `` O +There EX B-NP +'s VBZ B-VP +a DT B-NP +bottomless JJ I-NP +pit NN I-NP +of IN B-PP +dollar NN B-NP +demand NN I-NP +'' '' O +by IN B-PP +Japanese JJ B-NP +investors NNS I-NP +, , O +said VBD B-VP +Graham NNP B-NP +Beale NNP I-NP +, , O +managing VBG B-NP +director NN I-NP +of IN B-PP +foreign JJ B-NP +exchange NN I-NP +at IN B-PP +Hongkong NNP B-NP +& CC I-NP +Shanghai NNP I-NP +Banking NNP I-NP +Corp. NNP I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +, , O +adding VBG B-VP +that IN B-SBAR +purely RB B-NP +speculative JJ I-NP +demand NN I-NP +would MD B-VP +n't RB I-VP +hold VB I-VP +the DT B-NP +dollar NN I-NP +at IN B-PP +its PRP$ B-NP +recent JJ I-NP +levels NNS I-NP +against IN B-PP +the DT B-NP +Japanese JJ I-NP +currency NN I-NP +. . O + +Mr. NNP B-NP +Beale NNP I-NP +commented VBD B-VP +that IN B-SBAR +the DT B-NP +mark NN I-NP +remains VBZ B-VP +well JJ B-ADJP +bid NN I-ADJP +against IN B-PP +other JJ B-NP +currencies NNS I-NP +as IN B-ADVP +well RB I-ADVP +. . O + +Robert NNP B-NP +White NNP I-NP +, , O +manager NN B-NP +of IN B-PP +corporate JJ B-NP +trading NN I-NP +at IN B-PP +First NNP B-NP +Interstate NNP I-NP +of IN B-PP +California NNP B-NP +, , O +called VBD B-VP +the DT B-NP +market NN I-NP +`` `` O +psychologically RB B-ADJP +pro-mark JJ I-ADJP +, , O +'' '' O +noting VBG B-VP +that IN B-SBAR +the DT B-NP +U.S. NNP I-NP +remains VBZ B-VP +a DT B-NP +`` `` I-NP +veritable JJ I-NP +grab NN I-NP +bag NN I-NP +'' '' O +for IN B-PP +Japanese JJ B-NP +investors NNS I-NP +which WDT B-NP +accounts NNS B-VP +for IN B-PP +the DT B-NP +unabated JJ I-NP +demand NN I-NP +for IN B-PP +U.S. NNP B-NP +dollars NNS I-NP +. . O + +On IN B-PP +the DT B-NP +Commodity NNP I-NP +Exchange NNP I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +, , O +gold NN B-NP +dropped VBD B-VP +$ $ B-NP +1.60 CD I-NP +to TO B-PP +$ $ B-NP +367.10 CD I-NP +an DT B-NP +ounce NN I-NP +in IN B-PP +moderate JJ B-NP +trading NN I-NP +. . O + +Estimated VBN B-NP +volume NN I-NP +was VBD B-VP +three CD B-NP +million CD I-NP +ounces NNS I-NP +. . O + +In IN B-PP +early JJ B-NP +trading NN I-NP +in IN B-PP +Hong NNP B-NP +Kong NNP I-NP +Friday NNP B-NP +, , O +gold NN B-NP +was VBD B-VP +at IN B-PP +about RB B-NP +$ $ I-NP +366.85 CD I-NP +an DT B-NP +ounce NN I-NP +. . O + +Hotel NNP B-NP +Investors NNP I-NP +Trust NNP I-NP +and CC O +its PRP$ B-NP +affiliate NN I-NP +, , O +Hotel NNP B-NP +Investors NNP I-NP +Corp. NNP I-NP +, , O +said VBD B-VP +the DT B-NP +companies NNS I-NP +plan VBP B-VP +to TO I-VP +sell VB I-VP +all DT B-NP +of IN B-PP +the DT B-NP +hotels NNS I-NP +the DT B-NP +companies NNS I-NP +own JJ B-VP +and CC I-VP +operate VB I-VP +, , O +except IN B-PP +for IN B-PP +two CD B-NP +hotel-casinos NNS I-NP +in IN B-PP +Las NNP B-NP +Vegas NNP I-NP +, , O +Nev NNP B-NP +. . O + +The DT B-NP +hotels NNS I-NP +and CC I-NP +management NN I-NP +interests NNS I-NP +will MD B-VP +be VB I-VP +sold VBN I-VP +at IN B-PP +an DT B-NP +auction NN I-NP +, , O +said VBD B-VP +John NNP B-NP +Rothman NNP I-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +the DT B-NP +trust NN I-NP +and CC O +a DT B-NP +director NN I-NP +of IN B-PP +the DT B-NP +corporation NN I-NP +. . O + +Value NNP B-NP +of IN B-PP +the DT B-NP +properties NNS I-NP +and CC I-NP +management NN I-NP +interests NNS I-NP +was VBD B-VP +n't RB I-VP +disclosed VBN I-VP +. . O + +In IN B-PP +all DT B-NP +, , O +the DT B-NP +Los NNP I-NP +Angeles-based JJ I-NP +trust NN I-NP +plans NNS B-VP +to TO I-VP +sell VB I-VP +its PRP$ B-NP +interests NNS I-NP +in IN B-PP +36 CD B-NP +hotels NNS I-NP +, , O +while IN B-SBAR +the DT B-NP +corporation NN I-NP +will MD B-VP +sell VB I-VP +its PRP$ B-NP +management NN I-NP +interests NNS I-NP +in IN B-PP +32 CD B-NP +of IN B-PP +those DT B-NP +properties NNS I-NP +. . O + +Excluded VBN B-VP +from IN B-PP +the DT B-NP +sale NN I-NP +are VBP B-VP +the DT B-NP +interests NNS I-NP +of IN B-PP +the DT B-NP +trust NN I-NP +and CC O +the DT B-NP +corporation NN I-NP +in IN B-PP +two CD B-NP +Las NNP I-NP +Vegas NNP I-NP +hotel-casinos NNS I-NP +. . O + +After IN B-PP +completing VBG B-VP +the DT B-NP +sale NN I-NP +and CC O +paying VBG B-VP +debts NNS B-NP +, , O +the DT B-NP +trust NN I-NP +and CC I-NP +corporation NN I-NP +will MD B-VP +consider VB I-VP +a DT B-NP +number NN I-NP +of IN B-PP +options NNS B-NP +including VBG B-PP +a DT B-NP +stock NN I-NP +repurchase NN I-NP +, , O +payment NN B-NP +of IN B-PP +special JJ B-NP +dividend NN I-NP +or CC O +investment NN B-NP +in IN B-PP +more JJR B-NP +gaming NN I-NP +properties NNS I-NP +. . O + +The DT B-NP +companies NNS I-NP +will MD B-VP +retain VB I-VP +their PRP$ B-NP +current JJ I-NP +regular JJ I-NP +quarterly JJ I-NP +dividend NN I-NP +of IN B-PP +25 CD B-NP +cents NNS I-NP +during IN B-PP +the DT B-NP +sale NN I-NP +process NN I-NP +, , O +Mr. NNP B-NP +Rothman NNP I-NP +said VBD B-VP +. . O + +For IN B-PP +the DT B-NP +first JJ I-NP +six CD I-NP +months NNS I-NP +, , O +the DT B-NP +trust NN I-NP +and CC I-NP +corporation NN I-NP +had VBD B-VP +a DT B-NP +net JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +244,000 CD I-NP +. . O + +Baxter NNP B-NP +International NNP I-NP +Inc. NNP I-NP +, , O +citing VBG B-VP +cost-cutting JJ B-NP +moves NNS I-NP +and CC O +increased VBN B-NP +sales NNS I-NP +of IN B-PP +its PRP$ B-NP +home-care JJ I-NP +products NNS I-NP +and CC I-NP +dialysis NN I-NP +treatments NNS I-NP +, , O +posted VBD B-VP +a DT B-NP +20 CD I-NP +% NN I-NP +rise NN I-NP +in IN B-PP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +on IN B-PP +a DT B-NP +5.9 CD I-NP +% NN I-NP +sales NNS I-NP +boost NN I-NP +. . O + +The DT B-NP +Deerfield NNP I-NP +, , I-NP +Ill. NNP I-NP +, , I-NP +medical JJ I-NP +products NNS I-NP +and CC I-NP +services NNS I-NP +company NN I-NP +posted VBD B-VP +net NN B-NP +of IN B-PP +$ $ B-NP +102 CD I-NP +million CD I-NP +, , O +or CC O +34 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +compared VBN B-PP +with IN B-PP +$ $ B-NP +85 CD I-NP +million CD I-NP +, , O +or CC O +28 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Sales NNS B-NP +totaled VBD B-VP +$ $ B-NP +1.81 CD I-NP +billion CD I-NP +up IN B-ADVP +from IN B-PP +$ $ B-NP +1.71 CD I-NP +billion CD I-NP +the DT B-NP +previous JJ I-NP +year NN I-NP +. . O + +For IN B-PP +the DT B-NP +nine-month JJ I-NP +period NN I-NP +, , O +Baxter NNP B-NP +said VBD B-VP +net NN B-NP +rose VBD B-VP +15 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +307 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.02 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +267 CD I-NP +million CD I-NP +, , O +or CC O +89 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +during IN B-PP +the DT B-NP +year-ago JJ I-NP +period NN I-NP +. . O + +Sales NNS B-NP +for IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +were VBD B-VP +up IN B-ADVP +8 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +5.44 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +5.04 CD I-NP +billion CD I-NP +in IN B-PP +the DT B-NP +same JJ I-NP +period NN I-NP +in IN B-PP +1988 CD B-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +, , O +Baxter NNP B-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +22.25 CD I-NP +a DT B-NP +share NN I-NP +, , O +down RB B-ADVP +12.5 CD B-NP +cents NNS I-NP +. . O + +A DT B-NP +group NN I-NP +bidding NN B-VP +for IN B-PP +American NNP B-NP +Medical NNP I-NP +International NNP I-NP +Inc. NNP I-NP +, , O +New NNP B-NP +York NNP I-NP +, , O +said VBD B-VP +it PRP B-NP +formally RB B-VP +received VBD I-VP +the DT B-NP +final JJ I-NP +financing NN I-NP +needed VBN B-VP +for IN B-PP +a DT B-NP +$ $ I-NP +3 CD I-NP +billion CD I-NP +bid NN I-NP +for IN B-PP +about IN B-NP +86 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +hospital NN I-NP +operator NN I-NP +'s POS B-NP +stock NN I-NP +. . O + +The DT B-NP +offer NN I-NP +from IN B-PP +IMA NNP B-NP +Acquisition NNP I-NP +Corp. NNP I-NP +, , O +for IN B-PP +as RB B-NP +many JJ I-NP +as IN I-NP +63 CD I-NP +million CD I-NP +shares NNS I-NP +, , O +is VBZ B-VP +set VBN I-VP +to TO I-VP +expire VB I-VP +Wednesday NNP B-NP +. . O + +Earlier RBR B-NP +this DT I-NP +month NN I-NP +, , O +IMA NNP B-NP +said VBD B-VP +it PRP B-NP +had VBD B-VP +received VBN I-VP +about RB B-NP +$ $ I-NP +1 CD I-NP +billion CD I-NP +of IN B-PP +senior JJ B-NP +debt NN I-NP +financing NN I-NP +from IN B-PP +Chemical NNP B-NP +Bank NNP I-NP +and CC O +six CD B-NP +other JJ I-NP +banks NNS I-NP +; : O +Chemical NNP B-NP +Bank NNP I-NP +said VBD B-VP +it PRP B-NP +was VBD B-VP +`` `` B-ADJP +highly RB I-ADJP +confident JJ I-ADJP +'' '' O +it PRP B-NP +could MD B-VP +arrange VB I-VP +the DT B-NP +balance NN I-NP +of IN B-PP +about RB B-NP +$ $ I-NP +509 CD I-NP +million CD I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +the DT B-NP +$ $ I-NP +3 CD I-NP +billion CD I-NP +bid NN I-NP +includes VBZ B-VP +$ $ B-NP +1 CD I-NP +billion CD I-NP +of IN B-PP +debt NN B-NP +that WDT B-NP +will MD B-VP +be VB I-VP +assumed VBN I-VP +by IN B-PP +IMA NNP B-NP +, , O +$ $ B-NP +600 CD I-NP +million CD I-NP +of IN B-PP +high-yield JJ B-NP +junk NN I-NP +bonds NNS I-NP +that WDT B-NP +will MD B-VP +be VB I-VP +sold VBN I-VP +by IN B-PP +First NNP B-NP +Boston NNP I-NP +Corp. NNP I-NP +and CC O +$ $ B-NP +285 CD I-NP +million CD I-NP +of IN B-PP +equity NN B-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +yesterday NN B-NP +, , O +American NNP B-NP +Medical NNP I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +23.625 CD I-NP +, , O +up IN B-ADVP +$ $ B-NP +1.875 CD I-NP +. . O + +American NNP B-NP +Medical NNP I-NP +has VBZ B-VP +agreed VBN I-VP +to TO B-PP +the DT B-NP +offer NN I-NP +, , O +but CC O +earlier RBR B-NP +this DT I-NP +month NN I-NP +said VBD B-VP +it PRP B-NP +had VBD B-VP +received VBN I-VP +new JJ B-NP +`` `` I-NP +expressions NNS I-NP +of IN B-PP +interest NN B-NP +'' '' O +from IN B-PP +two CD B-NP +previous JJ I-NP +bidders NNS I-NP +. . O + +American NNP B-NP +Medical NNP I-NP +said VBD B-VP +it PRP B-NP +would MD B-VP +pursue VB I-VP +the DT B-NP +inquiries NNS I-NP +from IN B-PP +the DT B-NP +companies NNS I-NP +, , O +but CC O +would MD B-VP +n't RB I-VP +identify VB I-VP +them PRP B-NP +unless IN B-SBAR +they PRP B-NP +make VBP B-VP +firm NN B-NP +offers NNS I-NP +. . O + +H&R NNP B-NP +Block NNP I-NP +is VBZ B-VP +one CD B-NP +of IN B-PP +the DT B-NP +great JJ I-NP +success NN I-NP +stories NNS I-NP +of IN B-PP +U.S. NNP B-NP +business NN I-NP +. . O + +Oddly RB B-ADVP +enough RB I-ADVP +, , O +this DT B-NP +presents VBZ B-VP +a DT B-NP +problem NN I-NP +for IN B-PP +the DT B-NP +stock NN I-NP +. . O + +Some DT B-NP +money NN I-NP +managers NNS I-NP +are VBP B-VP +disenchanted VBN I-VP +with IN B-PP +H&R NNP B-NP +Block NNP I-NP +because IN B-SBAR +they PRP B-NP +suspect VBP B-VP +the DT B-NP +company NN I-NP +'s POS B-NP +glory NN I-NP +days NNS I-NP +are VBP B-VP +past JJ B-ADJP +, , O +or CC O +at IN B-VP +least JJS I-VP +passing VBG I-VP +. . O + +Block NNP B-NP +'s POS B-NP +tax-preparation NN I-NP +business NN I-NP +is VBZ B-VP +mature JJ B-ADJP +, , O +they PRP B-NP +say VBP B-VP +, , O +and CC O +some DT B-NP +of IN B-PP +its PRP$ B-NP +diversifications NNS I-NP +are VBP B-VP +facing VBG I-VP +tough JJ B-NP +competition NN I-NP +. . O + +It PRP B-NP +'s VBZ B-VP +no DT B-NP +secret NN I-NP +that IN B-SBAR +Block NNP B-NP +dominates VBZ B-VP +the DT B-NP +mass-market JJ I-NP +tax-preparation NN I-NP +business NN I-NP +. . O + +The DT B-NP +Street NNP I-NP +knows VBZ B-VP +all DT B-PP +about IN I-PP +the DT B-NP +predictability NN I-NP +of IN B-PP +its PRP$ B-NP +earnings NNS I-NP +, , O +which WDT B-NP +are VBP B-VP +headed VBN I-VP +for IN B-PP +a DT B-NP +ninth JJ I-NP +consecutive JJ I-NP +yearly JJ I-NP +increase NN I-NP +. . O + +The DT B-NP +company NN I-NP +has VBZ B-VP +consistently RB I-VP +earned VBN I-VP +more JJR B-NP +than IN B-PP +a DT B-NP +20 CD I-NP +% NN I-NP +annual JJ I-NP +return NN I-NP +on IN B-PP +its PRP$ B-NP +net JJ I-NP +worth NN I-NP +while IN B-SBAR +many JJ B-NP +companies NNS I-NP +would MD B-VP +be VB I-VP +happy JJ B-ADJP +with IN B-PP +15 CD B-NP +% NN I-NP +. . O + +But CC O +the DT B-NP +tax-preparation NN I-NP +business NN I-NP +simply RB B-ADVP +has VBZ B-VP +no DT B-NP +more JJR I-NP +room NN I-NP +to TO B-VP +grow VB I-VP +, , O +says VBZ B-VP +Mark NNP B-NP +Cremonie NNP I-NP +, , O +director NN B-NP +of IN B-PP +research NN B-NP +for IN B-PP +Capital NNP B-NP +Supervisors NNP I-NP +Inc. NNP I-NP +, , O +a DT B-NP +Chicago NNP I-NP +firm NN I-NP +that WDT B-NP +manages VBZ B-VP +$ $ B-NP +6.5 CD I-NP +billion CD I-NP +. . O + +`` `` O +You PRP B-NP +go VBP B-VP +to TO B-PP +any DT B-NP +medium-sized JJ I-NP +town NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +and CC O +you PRP B-NP +'re VBP B-VP +going VBG I-VP +to TO I-VP +see VB I-VP +H&R NNP B-NP +Block NNP I-NP +tax NN I-NP +services NNS I-NP +. . O +'' '' O + +Mr. NNP B-NP +Cremonie NNP I-NP +'s POS B-NP +firm NN I-NP +once RB B-ADVP +held VBD B-VP +about IN B-NP +4.8 CD I-NP +% NN I-NP +of IN B-PP +H&R NNP B-NP +Block NNP I-NP +. . O + +That DT B-NP +was VBD B-VP +before IN B-SBAR +the DT B-NP +1986 CD I-NP +tax NN I-NP +`` `` I-NP +reform NN I-NP +'' '' O +made VBN B-VP +taxes NNS B-NP +more RBR B-ADJP +complex JJ I-ADJP +than IN B-PP +ever RB B-NP +. . O + +`` `` O +One CD B-NP +thing NN I-NP +you PRP B-NP +can MD B-VP +bet VB I-VP +on IN B-PP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +, , O +`` `` O +is VBZ B-VP +that IN B-SBAR +Congress NNP B-NP +will MD B-VP +do VB I-VP +stupid JJ B-NP +things NNS I-NP +with IN B-PP +the DT B-NP +Tax NNP I-NP +Code NNP I-NP +. . O +'' '' O + +But CC O +Capital NNP B-NP +Supervisors NNP I-NP +sold VBN B-VP +the DT B-NP +last NN I-NP +of IN B-PP +its PRP$ B-NP +H&R NNP I-NP +Block NNP I-NP +holdings NNS I-NP +earlier RBR B-NP +this DT I-NP +year NN I-NP +. . O + +`` `` O +They PRP B-NP +'re VBP B-VP +thrashing VBG I-VP +around IN B-ADVP +for IN B-PP +diversification NN B-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +a DT B-NP +lot NN I-NP +of IN B-PP +their PRP$ B-NP +businesses NNS I-NP +are VBP B-VP +just RB B-ADJP +so-so JJ I-ADJP +. . O +'' '' O + +Last JJ B-NP +week NN I-NP +the DT B-NP +stock NN I-NP +hit VBD B-VP +an DT B-NP +all-time JJ I-NP +high NN I-NP +of IN B-PP +37 CD B-NP +1\/4 CD I-NP +before IN B-PP +getting VBG B-VP +roughed VBD I-VP +up IN B-PRT +in IN B-PP +the DT B-NP +Friday-the-13th JJ I-NP +minicrash NN I-NP +. . O + +It PRP B-NP +closed VBD B-VP +yesterday NN B-NP +at IN B-PP +34 CD B-NP +3\/4 CD I-NP +. . O + +To TO B-VP +be VB I-VP +sure JJ B-ADJP +, , O +the DT B-NP +stock NN I-NP +still RB B-ADVP +has VBZ B-VP +a DT B-NP +lot NN I-NP +of IN B-PP +fans NNS B-NP +. . O + +`` `` O +If IN B-SBAR +you PRP B-NP +invested VBD B-VP +$ $ B-NP +10,000 CD I-NP +in IN B-PP +the DT B-NP +initial JJ I-NP +public JJ I-NP +offering NN I-NP +in IN B-PP +1962 CD B-NP +, , O +it PRP B-NP +would MD B-VP +be VB I-VP +worth JJ B-ADJP +well RB B-NP +over IN I-NP +$ $ I-NP +5 NN I-NP +million CD I-NP +today NN B-NP +, , O +'' '' O +says VBZ B-VP +Fredric NNP B-NP +E. NNP I-NP +Russell NNP I-NP +, , O +a DT B-NP +Tulsa NNP I-NP +, , I-NP +Okla. NNP I-NP +, , I-NP +money NN I-NP +manager NN I-NP +. . O + +`` `` O +I PRP B-NP +do VBP B-VP +n't RB I-VP +know VB I-VP +what WP B-NP +the DT B-NP +risk NN I-NP +is VBZ B-VP +-LCB- ( O +of IN B-PP +holding VBG B-VP +the DT B-NP +stock NN I-NP +-RCB- ) O +. . O + +Taxes NNS B-NP +are VBP B-VP +not RB I-VP +going VBG I-VP +out IN B-ADJP +of IN B-PP +business NN B-NP +. . O +'' '' O + +Many JJ B-NP +of IN B-PP +his PRP$ B-NP +peers NNS I-NP +feel VBP B-VP +the DT B-NP +same JJ I-NP +way NN I-NP +. . O + +The DT B-NP +number NN I-NP +of IN B-PP +big JJ B-NP +institutions NNS I-NP +that IN B-NP +own JJ B-VP +H&R NNP B-NP +Block NNP I-NP +shares NNS I-NP +is VBZ B-VP +207 CD B-NP +and CC O +growing VBG B-VP +, , O +according VBG B-PP +to TO B-PP +a DT B-NP +midyear NN I-NP +tally NN I-NP +by IN B-PP +CDA NNP B-NP +Investment NNP I-NP +Technologies NNP I-NP +. . O + +Brokerage NN B-NP +houses NNS I-NP +are VBP B-VP +sweet JJ B-ADJP +on IN B-PP +H&R NNP B-NP +Block NNP I-NP +, , O +too RB B-ADVP +. . O + +Zacks NNP B-NP +Investment NNP I-NP +Research NNP I-NP +counts NNS B-VP +five CD B-NP +brokerage NN I-NP +houses NNS I-NP +that WDT B-NP +consider VBP B-VP +the DT B-NP +stock NN I-NP +a DT B-NP +buy NN I-NP +, , O +and CC O +four CD B-NP +that WDT B-NP +call VBP B-VP +it PRP B-NP +a DT B-NP +hold NN I-NP +. . O + +None NN B-NP +dare NN B-VP +say VBP I-VP +to TO B-VP +sell VB I-VP +it PRP B-NP +. . O + +But CC O +some DT B-NP +money NN I-NP +managers NNS I-NP +are VBP B-VP +doing VBG I-VP +just RB B-NP +that DT I-NP +. . O + +Eugene NNP B-NP +Sit VB I-NP +, , O +president NN B-NP +of IN B-PP +Sit VB B-NP +Investment NNP I-NP +Associates NNPS I-NP +in IN B-PP +Minneapolis NNP B-NP +, , O +says VBZ B-VP +, , O +`` `` O +When WRB B-ADVP +we PRP B-NP +bought VBD B-VP +it PRP B-NP +, , O +we PRP B-NP +thought VBD B-VP +the DT B-NP +growth NN I-NP +rate NN I-NP +was VBD B-VP +going VBG I-VP +to TO I-VP +accelerate VB I-VP +'' '' O +because IN B-PP +of IN I-PP +computerized JJ B-NP +tax NN I-NP +filing NN I-NP +and CC O +instant NN B-NP +refunds NNS I-NP +-LRB- ( O +the DT B-NP +customer NN I-NP +gets VBZ B-VP +a DT B-NP +refund NN I-NP +immediately RB B-ADVP +but CC O +pays VBZ B-VP +extra JJ B-NP +to TO B-PP +the DT B-NP +tax NN I-NP +preparer NN I-NP +, , O +which WDT B-NP +waits VBZ B-VP +for IN B-PP +Uncle NNP B-NP +Sam NNP I-NP +'s POS B-NP +check NN I-NP +-RRB- ) O +. . O + +But CC O +neither DT B-NP +of IN B-PP +those DT B-NP +developments NNS I-NP +did VBD B-VP +much JJ B-NP +to TO B-VP +juice NN I-VP +up IN B-PRT +growth NN B-NP +, , O +Mr. NNP B-NP +Sit VB I-NP +says VBZ B-VP +. . O + +He PRP B-NP +figures VBZ B-VP +Block NNP B-NP +earnings NNS I-NP +are VBP B-VP +now RB I-VP +growing VBG I-VP +at IN B-PP +about IN B-NP +a DT I-NP +10 CD I-NP +% NN I-NP +annual JJ I-NP +rate NN I-NP +-LRB- ( O +down RB B-ADVP +from IN B-PP +about IN B-NP +14 CD I-NP +% NN I-NP +the DT B-NP +past JJ I-NP +five CD I-NP +years NNS I-NP +-RRB- ) O +and CC O +will MD B-VP +grow VB I-VP +at IN B-PP +an DT B-NP +8%-10 JJ I-NP +% NN I-NP +rate NN I-NP +in IN B-PP +the DT B-NP +future NN I-NP +. . O + +That DT B-NP +'s VBZ B-VP +`` `` O +not RB B-ADJP +bad JJ I-ADJP +, , O +'' '' O +Mr. NNP B-NP +Sit VB I-NP +says VBZ B-VP +, , O +but CC O +it PRP B-NP +sure JJ B-ADVP +does VBZ B-VP +n't RB I-VP +justify VB I-VP +Block NNP B-NP +shares NNS I-NP +being VBG B-VP +priced VBN I-VP +at IN B-PP +15 CD B-NP +to TO I-NP +16 CD I-NP +times NNS I-NP +estimated VBD I-NP +earnings NNS I-NP +for IN B-PP +fiscal JJ B-NP +1990 CD I-NP +. . O + +He PRP B-NP +wants VBZ B-VP +stocks NNS B-NP +whose WP$ B-NP +price\/earnings NNS I-NP +ratio NN I-NP +is VBZ B-VP +less JJR B-ADJP +than IN B-PP +their PRP$ B-NP +growth NN I-NP +rate NN I-NP +; : O +as IN B-SBAR +he PRP B-NP +figures VBZ B-VP +it PRP B-NP +, , O +H&R NNP B-NP +Block NNP I-NP +does VBZ B-VP +n't RB I-VP +even RB I-VP +come VB I-VP +close NN B-ADVP +. . O + +Two CD B-NP +other JJ I-NP +money NN I-NP +managers NNS I-NP +, , O +in IN B-PP +explaining VBG B-VP +why WRB B-ADVP +they PRP B-NP +have VBP B-VP +sold VBN I-VP +large JJ B-NP +amounts NNS I-NP +of IN B-PP +H&R NNP B-NP +Block NNP I-NP +stock NN I-NP +this DT B-NP +year NN I-NP +, , O +spoke VBD B-VP +on IN B-PP +the DT B-NP +condition NN I-NP +they PRP B-NP +not RB O +be VBP B-VP +named VBN I-VP +. . O + +`` `` O +The DT B-NP +stock NN I-NP +was VBD B-VP +going VBG I-VP +no DT B-NP +place NN I-NP +and CC O +the DT B-NP +earnings NNS I-NP +were VBD B-VP +so-so JJ B-ADJP +, , O +'' '' O +said VBD B-VP +one CD B-NP +. . O + +-LRB- ( O +In IN B-PP +the DT B-NP +past JJ I-NP +two CD I-NP +years NNS I-NP +, , O +the DT B-NP +stock NN I-NP +almost RB B-ADVP +stalled VBD B-VP +out RB B-PRT +. . O + +It PRP B-NP +was VBD B-VP +above IN B-PP +33 CD B-NP +, , O +adjusted VBN B-VP +for IN B-PP +a DT B-NP +subsequent JJ I-NP +split NN I-NP +, , O +in IN B-PP +1987 CD B-NP +, , O +and CC O +has VBZ B-VP +n't RB I-VP +gotten VBN I-VP +much RB B-ADJP +higher JJR I-ADJP +since IN B-ADVP +. . O +-RRB- ) O + +`` `` O +There EX B-NP +'s VBZ B-VP +no DT B-NP +more JJR I-NP +growth NN I-NP +in IN B-PP +the DT B-NP +tax NN I-NP +business NN I-NP +-LCB- ( O +except IN O +-RCB- ) O +for IN B-PP +increasing VBG B-NP +prices NNS I-NP +, , O +'' '' O +the DT B-NP +money NN I-NP +manager NN I-NP +added VBD B-VP +. . O + +The DT B-NP +CompuServe NNP I-NP +subsidiary NN I-NP +-LRB- ( O +which WDT B-NP +provides VBZ B-VP +information NN B-NP +to TO B-PP +home-computer NN B-NP +users NNS I-NP +-RRB- ) O +is VBZ B-VP +`` `` O +where WRB B-ADVP +the DT B-NP +growth NN I-NP +is VBZ B-VP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +, , O +but CC O +its PRP$ B-NP +format NN I-NP +is VBZ B-VP +`` `` O +still RB B-ADVP +too RB B-ADJP +complicated VBN I-ADJP +. . O +'' '' O + +CompuServe NNP B-NP +provides VBZ B-VP +about IN B-NP +20 CD I-NP +% NN I-NP +of IN B-PP +both DT B-NP +sales NNS I-NP +and CC I-NP +earnings NNS I-NP +. . O + +The DT B-NP +tax NN I-NP +business NN I-NP +still RB B-ADVP +provides VBZ B-VP +about IN B-NP +70 CD I-NP +% NN I-NP +of IN B-PP +earnings NNS B-NP +, , O +on IN B-PP +about IN B-NP +50 CD I-NP +% NN I-NP +of IN B-PP +sales NNS B-NP +. . O + +Personnel NNP B-NP +Pool NNP I-NP +-LRB- ( O +temporary JJ B-NP +workers NNS I-NP +, , O +mostly RB B-PP +in IN I-PP +the DT B-NP +health-care NN I-NP +area NN I-NP +-RRB- ) O +chips NNS B-VP +in IN B-PRT +close RB B-NP +to TO I-NP +25 CD I-NP +% NN I-NP +of IN B-PP +sales NNS B-NP +but CC O +only RB B-NP +about IN I-NP +9 CD I-NP +% NN I-NP +of IN B-PP +earnings NNS B-NP +. . O + +The DT B-NP +shortage NN I-NP +of IN B-PP +nurses NNS B-NP +is VBZ B-VP +crimping VBG I-VP +profit NN B-NP +at IN B-PP +Personnel NNP B-NP +Pool NNP I-NP +, , O +said VBD B-VP +the DT B-NP +second JJ I-NP +money NN I-NP +manager NN I-NP +. . O + +He PRP B-NP +concedes VBZ B-VP +H&R NNP B-NP +Block NNP I-NP +is VBZ B-VP +`` `` O +well-entrenched JJ B-ADJP +'' '' O +and CC O +`` `` O +a DT B-NP +great JJ I-NP +company NN I-NP +, , O +'' '' O +but CC O +says VBZ B-VP +`` `` O +it PRP B-NP +does VBZ B-VP +n't RB I-VP +grow VB I-VP +fast RB B-ADVP +enough RB I-ADVP +for IN B-PP +us PRP B-NP +. . O + +We PRP B-NP +'re VBP B-VP +looking VBG I-VP +for IN B-PP +something NN B-NP +that WDT B-NP +grows VBZ B-VP +faster RBR B-ADVP +and CC O +sells VBZ B-VP +at IN B-PP +a DT B-NP +comparable JJ I-NP +-LCB- ( O +price-earnings JJ O +-RCB- ) O +multiple JJ B-NP +. . O +'' '' O + +Thomas NNP B-NP +M. NNP I-NP +Bloch NNP I-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +operating VBG I-NP +officer NN I-NP +, , O +says VBZ B-VP +`` `` O +I PRP B-NP +would MD B-VP +disagree VB I-VP +'' '' O +that IN B-SBAR +the DT B-NP +tax NN I-NP +business NN I-NP +is VBZ B-VP +mature JJ B-ADJP +. . O + +For IN B-PP +example NN B-NP +, , O +he PRP B-NP +says VBZ B-VP +, , O +the DT B-NP +company NN I-NP +is VBZ B-VP +planning VBG I-VP +to TO I-VP +go VB I-VP +nationwide JJ B-ADJP +with IN B-PP +a DT B-NP +new JJ I-NP +service NN I-NP +, , O +tested VBN B-VP +in IN B-PP +parts NNS B-NP +of IN B-PP +the DT B-NP +country NN I-NP +, , O +aimed VBN B-VP +at IN B-PP +taxpayers NNS B-NP +who WP B-NP +want VBP B-VP +refunds NNS B-NP +in IN B-PP +a DT B-NP +hurry NN I-NP +. . O + +Mr. NNP B-NP +Bloch NNP I-NP +concedes VBZ B-VP +that IN B-SBAR +a DT B-NP +recent JJ I-NP +diversification NN I-NP +attempt NN I-NP +fell VBD B-VP +through RB B-PRT +. . O + +`` `` O +We PRP B-NP +'re VBP B-VP +still RB B-ADVP +interested JJ B-ADJP +-LCB- ( O +in IN B-PP +diversifying VBG B-NP +-RCB- ) O +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +, , O +`` `` O +but CC O +we PRP B-NP +'d MD B-VP +rather RB I-VP +be VB I-VP +prudent JJ B-ADJP +than IN B-SBAR +make NN B-VP +a DT B-NP +mistake NN I-NP +. . O +'' '' O + +He PRP B-NP +also RB B-ADVP +says VBZ B-VP +CompuServe NNP B-NP +'s POS B-NP +earnings NNS I-NP +continue VBP B-VP +to TO I-VP +grow VB I-VP +`` `` O +20 CD B-NP +% NN I-NP +to TO O +30 CD B-NP +% NN I-NP +a DT B-NP +year NN I-NP +'' '' O +in IN B-PP +spite NN B-NP +of IN B-PP +tough JJ B-NP +competition NN I-NP +from IN B-PP +giants NNS B-NP +like IN B-PP +Sears NNP B-NP +and CC I-NP +IBM NNP I-NP +. . O + +And CC O +he PRP B-NP +says VBZ B-VP +Block NNP B-NP +'s POS B-NP +other JJ I-NP +businesses NNS I-NP +are VBP B-VP +growing VBG I-VP +, , O +although IN B-SBAR +less RBR B-ADVP +consistently RB I-ADVP +. . O + +H&R NNP B-NP +Block NNP I-NP +-LRB- ( O +NYSE NNP B-NP +; : O +Symbol:HRB NNP B-NP +-RRB- ) O + +Business NN B-NP +: : O +Tax NNP B-NP +Preparation NN I-NP + +Year NN B-NP +ended VBN B-VP +April NNP B-NP +30 CD I-NP +, , I-NP +1989 CD I-NP +: : O + +Revenue NN B-NP +: : O +$ $ B-NP +899.6 CD I-NP +million CD I-NP + +Net JJ B-NP +loss NN I-NP +: : O +$ $ B-NP +100.2 CD I-NP +million CD I-NP +; : O +$ $ B-NP +1.90 CD I-NP +a DT B-NP +share NN I-NP + +First JJ B-NP +quarter NN I-NP +, , O +July NNP B-NP +31 CD I-NP +, , I-NP +1989 CD I-NP +: : O + +Per-share JJ B-NP +earnings NNS I-NP +: : O +Loss NN B-NP +of IN B-PP +8 CD B-NP +cents NNS I-NP +vs. IN O +loss NN B-NP +of IN B-PP +9 CD B-NP +cents NNS I-NP + +Average NNP B-NP +daily JJ I-NP +trading NN I-NP +volume NN I-NP +: : O +145,954 CD B-NP +shares NNS I-NP + +Philips NNP B-NP +Industries NNP I-NP +Inc. NNP I-NP +said VBD B-VP +its PRP$ B-NP +board NN I-NP +authorized VBD B-VP +the DT B-NP +redemption NN I-NP +Dec. NNP B-NP +6 CD I-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +$ $ B-ADJP +1 CD O +cumulative JJ B-NP +convertible JJ I-NP +special JJ I-NP +preferred JJ I-NP +stock NN I-NP +at IN B-PP +$ $ B-NP +37.50 CD I-NP +a DT B-NP +share NN I-NP +, , O +not RB B-PP +including VBG I-PP +a DT B-NP +25 CD I-NP +cent NN I-NP +dividend NN I-NP +for IN B-PP +the DT B-NP +current JJ I-NP +quarter NN I-NP +, , O +and CC O +the DT B-NP +$ $ I-NP +3 CD I-NP +cumulative JJ I-NP +convertible JJ I-NP +preferred JJ I-NP +stock NN I-NP +at IN B-PP +$ $ B-NP +75 CD I-NP +, , O +plus CC B-PP +a DT B-NP +75 CD I-NP +cent NN I-NP +dividend NN I-NP +for IN B-PP +the DT B-NP +current JJ I-NP +quarter NN I-NP +. . O + +The DT B-NP +Dayton NNP I-NP +, , I-NP +Ohio NNP I-NP +, , I-NP +maker NN I-NP +of IN B-PP +parts NNS B-NP +for IN B-PP +the DT B-NP +building NN I-NP +and CC I-NP +transportation NN I-NP +industries NNS I-NP +said VBD B-VP +holders NNS B-NP +of IN B-PP +the DT B-NP +two CD I-NP +issues NNS I-NP +can MD B-VP +convert VB I-VP +their PRP$ B-NP +stock NN I-NP +into IN B-PP +common JJ B-NP +shares NNS I-NP +through IN B-PP +the DT B-NP +close NN I-NP +of IN B-PP +business NNP B-NP +Dec. NNP B-NP +1 CD I-NP +. . O + +Each DT B-NP +$ $ I-NP +1 CD I-NP +cumulative JJ I-NP +share NN I-NP +can MD B-VP +be VB I-VP +converted VBN I-VP +into IN B-PP +4.92 CD B-NP +common JJ I-NP +shares NNS I-NP +; : O +the DT B-NP +ratio NN I-NP +on IN B-PP +the DT B-NP +$ $ I-NP +3 CD I-NP +cumulative JJ I-NP +is VBZ B-VP +eight CD B-NP +common JJ I-NP +shares NNS I-NP +for IN B-PP +each DT B-NP +$ $ I-NP +3 CD I-NP +cumulative JJ I-NP +preferred JJ I-NP +. . O + +Philips NNP B-NP +did VBD B-VP +n't RB I-VP +indicate VB I-VP +how WRB B-ADVP +many JJ O +shares NNS B-NP +outstanding JJ B-ADJP +it PRP B-NP +has VBZ B-VP +of IN B-PP +either DT B-NP +issue NN I-NP +. . O + +Company NN B-NP +officials NNS I-NP +could MD B-VP +n't RB I-VP +be VB I-VP +reached VBN I-VP +. . O + +Earlier RBR B-NP +this DT I-NP +month NN I-NP +the DT B-NP +company NN I-NP +said VBD B-VP +its PRP$ B-NP +board NN I-NP +approved VBD B-VP +a DT B-NP +proposed VBN I-NP +management-led JJ I-NP +leveraged JJ I-NP +buy-out NN I-NP +at IN B-PP +$ $ B-NP +25.50 CD I-NP +a DT B-NP +share NN I-NP +, , O +or CC O +$ $ B-NP +750 CD I-NP +million CD I-NP +. . O + +-LRB- ( O +During IN B-PP +its PRP$ B-NP +centennial NN I-NP +year NN I-NP +, , O +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +will MD B-VP +report VB I-VP +events NNS B-NP +of IN B-PP +the DT B-NP +past JJ I-NP +century NN I-NP +that WDT B-NP +stand VBP B-VP +as IN B-PP +milestones NNS B-NP +of IN B-PP +American JJ B-NP +business NN I-NP +history NN I-NP +. . O +-RRB- ) O + +PUTS NNPS B-NP +AND CC I-NP +CALLS NNPS I-NP +, , O +STOCK NNP B-NP +MARKET NNP I-NP +PATOIS NNP I-NP +for IN B-PP +options NNS B-NP +to TO B-VP +sell VB I-VP +or CC I-VP +buy VB I-VP +a DT B-NP +company NN I-NP +'s POS B-NP +shares NNS I-NP +, , O +were VBD B-VP +long JJ B-ADVP +an DT B-NP +arcane JJ I-NP +Wall NNP I-NP +Street NNP I-NP +art NN I-NP +best RBS B-VP +left VBN I-VP +to TO B-PP +the DT B-NP +experts NNS I-NP +, , O +who WP B-NP +used VBD B-VP +them PRP B-NP +either DT O +as IN B-PP +a DT B-NP +hedge NN I-NP +or CC B-PP +for IN B-PP +pure JJ B-NP +speculation NN I-NP +. . O + +Options NNS B-NP +lost VBD B-VP +some DT B-NP +of IN B-PP +their PRP$ B-NP +mystery NN I-NP +in IN B-PP +1973 CD B-NP +when WRB B-ADVP +the DT B-NP +Chicago NNP I-NP +Board NNP I-NP +of IN B-PP +Trade NNP B-NP +set VBD B-VP +up IN B-PRT +a DT B-NP +special JJ I-NP +exchange NN I-NP +to TO B-VP +deal VB I-VP +in IN B-PP +them PRP B-NP +. . O + +Until IN B-PP +then RB B-NP +, , O +options NNS B-NP +had VBD B-VP +been VBN I-VP +traded VBN I-VP +only RB B-PP +in IN I-PP +the DT B-NP +over-the-counter JJ I-NP +market NN I-NP +, , O +mostly RB B-PP +in IN I-PP +New NNP B-NP +York NNP I-NP +, , O +and CC B-PP +in IN B-PP +an DT B-NP +almost RB I-NP +invisible JJ I-NP +secondary JJ I-NP +market NN I-NP +operating VBG B-VP +chiefly RB B-ADVP +by IN B-PP +telephone NN B-NP +. . O + +The DT B-NP +Chicago NNP I-NP +Board NNP I-NP +of IN B-PP +Trade NNP B-NP +, , O +the DT B-NP +No. NN I-NP +1 CD I-NP +U.S. NNP I-NP +grain NN I-NP +market NN I-NP +, , O +had VBD B-VP +long RB I-VP +chafed VBN I-VP +under IN B-PP +the DT B-NP +attention NN I-NP +won VBN B-VP +by IN B-PP +its PRP$ B-NP +innovative JJ I-NP +archrival NN I-NP +, , O +the DT B-NP +livestock-dealing JJ I-NP +Mercantile NNP I-NP +Exchange NNP I-NP +. . O + +So RB O +the DT B-NP +men NNS I-NP +who WP B-NP +ran VBD B-VP +the DT B-NP +grain NN I-NP +pits NNS I-NP +listened VBD B-VP +when WRB B-ADVP +Joseph NNP B-NP +Sullivan NNP I-NP +, , O +a DT B-NP +35-year-old JJ I-NP +former JJ I-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +newsman NN I-NP +, , O +offered VBD B-VP +them PRP B-NP +the DT B-NP +idea NN I-NP +of IN B-PP +all-options JJ B-NP +trading NN I-NP +. . O + +After IN B-PP +four CD B-NP +year NN I-NP +of IN B-PP +tinkering NN B-NP +and CC O +$ $ B-NP +2.4 CD I-NP +million CD I-NP +in IN B-PP +seed NN B-NP +money NN I-NP +, , O +the DT B-NP +board NN I-NP +set VBN B-VP +up IN B-PRT +the DT B-NP +new JJ I-NP +marketplace NN I-NP +, , O +titled VBD B-VP +it PRP B-NP +the DT B-NP +Chicago NNP I-NP +Board NNP I-NP +Options NNP I-NP +Exchange NNP I-NP +, , O +and CC O +named VBD B-VP +Sullivan NNP B-NP +its PRP$ B-NP +first JJ I-NP +president NN I-NP +. . O + +The DT B-NP +beginnings NNS I-NP +were VBD B-VP +modest JJ B-ADJP +. . O + +The DT B-NP +CBOE NNP I-NP +opened VBD B-VP +for IN B-PP +business NN B-NP +on IN B-PP +April NNP B-NP +26 CD I-NP +, , I-NP +1973 CD I-NP +, , O +in IN B-PP +what WP B-NP +had VBD B-VP +been VBN I-VP +a DT O +Board NNP O +of IN B-PP +Trade NNP B-NP +lunchroom NN B-NP +. . O + +It PRP B-NP +listed VBD B-VP +just RB B-NP +16 CD I-NP +options NNS I-NP +to TO B-VP +buy VB I-VP +a DT B-NP +`` `` I-NP +pilot NN I-NP +list NN I-NP +'' '' O +of IN B-PP +stocks NNS B-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +. . O + +-LRB- ( O +Puts VBZ B-NP +, , O +or CC O +sell VB B-NP +options NNS I-NP +, , O +would MD B-VP +not RB I-VP +be VB I-VP +added VBN I-VP +until IN B-PP +1977 CD B-NP +. . O +-RRB- ) O + +The DT B-NP +282 CD I-NP +members NNS I-NP +had VBD B-VP +paid VBN I-VP +$ $ B-NP +10,000 CD I-NP +apiece RB B-ADVP +for IN B-PP +seats NNS B-NP +. . O + +-LRB- ( O +The DT B-NP +1989 CD I-NP +price NN I-NP +: : O +$ $ B-NP +250,000 CD I-NP +. . O +-RRB- ) O + +The DT B-NP +first JJ I-NP +day NN I-NP +'s POS B-NP +business NN I-NP +was VBD B-VP +911 CD B-NP +contracts NNS I-NP +-LRB- ( O +each DT B-NP +for IN B-PP +100 CD B-NP +shares NNS I-NP +of IN B-PP +one CD B-NP +of IN B-PP +the DT B-NP +listed VBN I-NP +stocks NNS I-NP +-RRB- ) O +. . O + +By IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +1973 CD B-NP +, , O +the DT B-NP +number NN I-NP +of IN B-PP +`` `` B-NP +underlying VBG I-NP +'' '' I-NP +Big NNP I-NP +Board NNP I-NP +stocks NNS I-NP +had VBD B-VP +been VBN I-VP +increased VBN I-VP +to TO B-PP +50 CD B-NP +and CC O +the DT B-NP +options NNS I-NP +exchange VBP I-NP +had VBD B-VP +run VBN I-VP +up IN B-PRT +volume NN B-NP +of IN B-PP +1.1 CD B-NP +million CD I-NP +contracts NNS I-NP +. . O + +A DT B-NP +year NN I-NP +later RB B-ADVP +, , O +it PRP B-NP +was VBD B-VP +5.7 CD B-NP +million CD I-NP +. . O + +Last JJ B-NP +year NN I-NP +, , O +more JJR B-NP +than IN I-NP +1,800 CD I-NP +traders NNS I-NP +on IN B-PP +the DT B-NP +CBOE NNP I-NP +bought VBD B-VP +and CC I-VP +sold VBN I-VP +112 CD B-NP +million CD I-NP +contracts NNS I-NP +on IN B-PP +178 CD B-NP +listed VBN I-NP +stocks NNS I-NP +, , O +60 CD B-NP +% NN I-NP +of IN B-PP +all DT B-NP +U.S. NNP I-NP +listed VBD I-NP +options NNS I-NP +trading NN I-NP +. . O + +The DT B-NP +new JJ I-NP +exchange NN I-NP +drew VBD B-VP +instant NN B-NP +recognition NN I-NP +from IN B-PP +an DT B-NP +unwelcome JJ I-NP +quarter NN I-NP +. . O + +The DT B-NP +government NN I-NP +, , O +campaigning VBG B-VP +against IN B-PP +fixed VBN B-NP +brokerage NN I-NP +commissions NNS I-NP +, , O +promptly RB B-VP +sued VBD I-VP +the DT B-NP +CBOE NNP I-NP +over IN B-PP +its PRP$ B-NP +minimum-fee JJ I-NP +system NN I-NP +. . O + +The DT B-NP +Nuclear NNP I-NP +Regulatory NNP I-NP +Commission NNP I-NP +ruled VBD B-VP +unanimously RB B-ADVP +that IN B-SBAR +the DT B-NP +financial JJ I-NP +troubles NNS I-NP +facing VBG B-VP +the DT B-NP +Seabrook NNP I-NP +, , I-NP +N.H. NNP I-NP +, , I-NP +nuclear-power JJ I-NP +plant NN I-NP +have VBP B-VP +no DT B-NP +impact NN I-NP +on IN B-PP +whether IN B-SBAR +the DT B-NP +plant NN I-NP +receives VBZ B-VP +a DT B-NP +full-power JJ I-NP +license NN I-NP +. . O + +Massachusetts NNP B-NP +Attorney NNP I-NP +General NNP I-NP +James NNP I-NP +Shannon NNP I-NP +, , O +opposing VBG B-VP +the DT B-NP +license NN I-NP +, , O +said VBD B-VP +he PRP B-NP +will MD B-VP +appeal VB I-VP +the DT B-NP +ruling NN I-NP +in IN B-PP +federal JJ B-NP +court NN I-NP +. . O + +Seabrook NNP B-NP +officials NNS I-NP +said VBD B-VP +the DT B-NP +plant NN I-NP +could MD B-VP +receive VB I-VP +a DT B-NP +full-power JJ I-NP +license NN I-NP +by IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +year NN I-NP +. . O + +The DT B-NP +NRC NNP I-NP +rejected VBD B-VP +Mr. NNP B-NP +Shannon NNP I-NP +'s POS B-NP +argument NN I-NP +that IN B-SBAR +Public NNP B-NP +Service NNP I-NP +Co. NNP I-NP +of IN B-PP +New NNP B-NP +Hampshire NNP I-NP +, , O +which WDT B-NP +owns VBZ B-VP +the DT B-NP +largest JJS I-NP +share NN I-NP +of IN B-PP +Seabrook NNP B-NP +, , O +and CC O +11 CD B-NP +other JJ I-NP +owners NNS I-NP +are VBP B-VP +financially RB B-ADJP +unable JJ I-ADJP +to TO B-VP +guarantee VB I-VP +the DT B-NP +plant NN I-NP +'s POS B-NP +safe JJ I-NP +operation NN I-NP +. . O + +Mr. NNP B-NP +Shannon NNP I-NP +was VBD B-VP +seeking VBG I-VP +a DT B-NP +waiver NN I-NP +of IN B-PP +NRC NNP B-NP +policy NN I-NP +that WDT B-NP +ignores VBZ B-VP +financial JJ B-NP +considerations NNS I-NP +in IN B-PP +making VBG B-VP +licensing NN B-NP +decisions NNS I-NP +. . O + +In IN B-PP +its PRP$ B-NP +ruling NN I-NP +, , O +the DT B-NP +NRC NNP I-NP +said VBD B-VP +that IN B-SBAR +because IN B-SBAR +Seabrook NNP B-NP +will MD B-VP +be VB I-VP +allowed VBN I-VP +to TO I-VP +charge VB I-VP +rates NNS B-NP +sufficient JJ B-ADJP +to TO B-VP +run VB I-VP +the DT B-NP +plant NN I-NP +and CC O +make VB B-VP +payments NNS B-NP +on IN B-PP +past JJ B-NP +construction NN I-NP +costs NNS I-NP +, , O +consideration NN B-NP +of IN B-PP +the DT B-NP +owners NNS I-NP +' POS B-NP +financial JJ I-NP +condition NN I-NP +is VBZ B-VP +pointless JJ B-ADJP +. . O + +`` `` O +The DT B-NP +commissioners NNS I-NP +found VBD B-VP +the DT B-NP +circumstances NNS I-NP +of IN B-PP +the DT B-NP +case NN I-NP +did VBD B-VP +n't RB I-VP +undercut VB I-VP +the DT B-NP +assurance NN I-NP +from IN B-PP +government NN B-NP +rate NN I-NP +setters NNS I-NP +of IN B-PP +available JJ B-NP +funds NNS I-NP +adequate JJ B-ADJP +for IN B-PP +safe JJ B-NP +operation NN I-NP +, , O +'' '' O +said VBD B-VP +a DT B-NP +commission NN I-NP +spokesman NN I-NP +. . O + +In IN B-PP +January NNP B-NP +1988 CD I-NP +, , O +the DT B-NP +utility NN I-NP +filed VBN B-VP +for IN B-PP +protection NN B-NP +under IN B-PP +Chapter NN B-NP +11 CD I-NP +of IN B-PP +the DT B-NP +federal JJ I-NP +Bankruptcy NNP I-NP +Code NNP I-NP +, , O +allowing VBG B-VP +it PRP B-NP +to TO B-VP +continue VB I-VP +to TO I-VP +operate VB I-VP +while IN B-SBAR +protected VBN B-VP +from IN B-PP +creditors NNS B-NP +' POS B-NP +lawsuits NNS I-NP +. . O + +Bristol-Myers NNP B-NP +Squibb NNP I-NP +Co. NNP I-NP +, , O +New NNP B-NP +York NNP I-NP +, , O +the DT B-NP +newly RB I-NP +merged VBN I-NP +drug NN I-NP +and CC I-NP +health-care-product NN I-NP +company NN I-NP +, , O +reported VBD B-VP +record NN B-NP +third-quarter JJ I-NP +earnings NNS I-NP +for IN B-PP +both DT B-NP +companies NNS I-NP +in IN B-PP +the DT B-NP +merger NN I-NP +. . O + +Bristol-Myers NNP B-NP +Co. NNP I-NP +and CC O +Squibb NNP B-NP +Corp. NNP I-NP +, , O +Princeton NNP B-NP +, , O +N.J. NNP B-NP +, , O +merged VBN B-VP +Oct. NNP B-NP +4 CD I-NP +, , O +but CC O +the DT B-NP +new JJ I-NP +company NN I-NP +reported VBD B-VP +third-period JJ B-NP +earnings NNS I-NP +for IN B-PP +both DT B-NP +companies NNS I-NP +. . O + +For IN B-PP +the DT B-NP +fourth JJ I-NP +quarter NN I-NP +, , O +Bristol-Myers NNP B-NP +Squibb NNP I-NP +will MD B-VP +report VB I-VP +one CD B-NP +set VBN I-NP +of IN B-PP +earnings NNS B-NP +. . O + +Bristol-Myers NNP B-NP +said VBD B-VP +net JJ B-NP +income NN I-NP +rose VBD B-VP +15 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +266.2 CD I-NP +million CD I-NP +, , O +or CC O +93 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +232.3 CD I-NP +million CD I-NP +, , O +or CC O +81 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Sales NNS B-NP +gained VBD B-VP +5 NN B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +1.59 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +1.52 CD I-NP +billion CD I-NP +. . O + +Squibb NNP B-NP +Corp. NNP I-NP +said VBD B-VP +net NN B-NP +rose VBD B-VP +17 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +144.5 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.47 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +123 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.25 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Sales NNS B-NP +were VBD B-VP +$ $ B-NP +730.1 CD I-NP +million CD I-NP +, , O +up IN B-ADVP +7 CD B-NP +% NN I-NP +from IN B-PP +$ $ B-NP +679.5 CD I-NP +million CD I-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +, , O +Bristol-Myers NNP B-NP +Squibb NNP I-NP +rose VBD B-VP +$ $ B-NP +1.75 CD I-NP +to TO B-PP +$ $ B-NP +52.75 CD I-NP +. . O + +PPG NNP B-NP +Industries NNP I-NP +Inc. NNP I-NP +, , O +hurt VBN B-VP +by IN B-PP +softness NN B-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +automotive JJ I-NP +and CC I-NP +construction NN I-NP +industries NNS I-NP +, , O +said VBD B-VP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +fell VBD B-VP +5.5 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +106.7 CD I-NP +million CD I-NP +, , O +or CC O +97 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +112.9 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.03 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Sales NNS B-NP +were VBD B-VP +nearly RB B-ADJP +identical JJ I-ADJP +to TO B-PP +the DT B-NP +year-earlier JJ I-NP +$ $ I-NP +1.36 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +drop NN I-NP +in IN B-PP +earnings NNS B-NP +did VBD B-VP +n't RB I-VP +surprise VB I-VP +analysts NNS B-NP +who WP B-NP +said VBD B-VP +the DT B-NP +Pittsburgh NNP I-NP +glass NN I-NP +, , I-NP +coatings NNS I-NP +and CC I-NP +chemical NN I-NP +concern NN I-NP +had VBD B-VP +been VBN I-VP +predicting VBG I-VP +a DT B-NP +slow JJ I-NP +quarter NN I-NP +because IN B-PP +of IN I-PP +the DT B-NP +sluggish JJ I-NP +construction NN I-NP +industry NN I-NP +, , O +a DT B-NP +major JJ I-NP +market NN I-NP +for IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +flat JJ I-NP +glass NN I-NP +. . O + +Glass NN B-NP +sales NNS I-NP +to TO B-PP +Canadian JJ B-NP +and CC I-NP +European JJ I-NP +auto NN I-NP +makers NNS I-NP +and CC O +sales NNS B-NP +of IN B-PP +replacement NN B-NP +auto NN I-NP +glass NN I-NP +in IN B-PP +all DT B-NP +markets NNS I-NP +increased VBN B-VP +. . O + +The DT B-NP +coating NN I-NP +segment NN I-NP +also RB B-ADVP +posted VBD B-VP +higher JJR B-NP +sales NNS I-NP +particularly RB B-PP +in IN I-PP +North NNP B-NP +America NNP I-NP +and CC O +Europe NNP B-NP +. . O + +But CC O +sale NN B-NP +increases NNS I-NP +were VBD B-VP +offset VBN I-VP +by IN B-PP +slumping VBG B-NP +sales NNS I-NP +in IN B-PP +flat JJ B-NP +glass NN I-NP +and CC O +fiberglass NNS B-NP +reinforcements NNS I-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +. . O + +Also RB B-ADVP +, , O +chemicals NNS B-NP +sales NNS I-NP +were VBD B-VP +slightly RB B-ADJP +down RB I-ADJP +because IN B-PP +of IN I-PP +lower JJR B-NP +prices NNS I-NP +for IN B-PP +vinyl NN B-NP +chloride NN I-NP +monomer NN I-NP +and CC O +other JJ B-NP +chlorine NN I-NP +derivatives NNS I-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +, , O +PPG NNP B-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +41 CD I-NP +a DT B-NP +share NN I-NP +, , O +down RB B-ADVP +37.5 CD B-NP +cents NNS I-NP +. . O + +Jefferies NNP B-NP +Group NNP I-NP +Inc. NNP I-NP +said VBD B-VP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +fell VBD B-VP +4 CD B-NP +% NN I-NP +, , O +to TO B-PP +$ $ B-NP +2.2 CD I-NP +million CD I-NP +, , O +or CC O +35 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +2.3 CD I-NP +million CD I-NP +, , O +or CC O +31 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +on IN B-PP +more JJR B-NP +shares NNS I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Revenue NN B-NP +rose VBD B-VP +15 CD B-NP +% NN I-NP +, , O +to TO B-PP +$ $ B-NP +36 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +31.2 CD I-NP +million CD I-NP +. . O + +Jefferies NNP B-NP +, , O +a DT B-NP +Los NNP I-NP +Angeles NNP I-NP +holding VBG I-NP +company NN I-NP +primarily RB B-VP +engaged VBD I-VP +in IN B-PP +securities NNS B-NP +trading NN I-NP +, , O +also RB B-ADVP +said VBD B-VP +stock NN B-NP +market NN I-NP +declines NNS I-NP +since IN B-PP +the DT B-NP +quarter NN I-NP +ended VBN B-VP +Sept. NNP B-NP +30 CD I-NP +created VBN B-VP +an DT B-NP +unrealized JJ I-NP +pretax JJ I-NP +loss NN I-NP +of IN B-PP +about RB B-NP +$ $ I-NP +6 CD I-NP +million CD I-NP +in IN B-PP +its PRP$ B-NP +risk NN I-NP +arbitrage NN I-NP +account NN I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +Jefferies NNP B-NP +said VBD B-VP +net NN B-NP +fell VBD B-VP +39 CD B-NP +% NN I-NP +, , O +to TO B-PP +$ $ B-NP +6.8 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.07 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +11.1 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.50 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Revenue NN B-NP +fell VBD B-VP +3 CD B-NP +% NN I-NP +, , O +to TO B-PP +$ $ B-NP +105.2 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +108.4 CD I-NP +million CD I-NP +. . O + +Sony NNP B-NP +Corp. NNP I-NP +, , O +New NNP B-NP +York NNP I-NP +, , O +said VBD B-VP +its PRP$ B-NP +bids NNS I-NP +for IN B-PP +Columbia NNP B-NP +Pictures NNP I-NP +Entertainment NNP I-NP +Inc. NNP I-NP +and CC O +Guber-Peters NNP B-NP +Entertainment NNP I-NP +Co. NNP I-NP +have VBP B-VP +been VBN I-VP +cleared VBN I-VP +by IN B-PP +federal JJ B-NP +antitrust JJ I-NP +regulators NNS I-NP +. . O + +The DT B-NP +Japanese JJ I-NP +company NN I-NP +said VBD B-VP +the DT B-NP +waiting VBG I-NP +period NN I-NP +under IN B-PP +the DT B-NP +Hart-Scott-Rodino NNP I-NP +antitrust JJ I-NP +act NN I-NP +for IN B-PP +the DT B-NP +$ $ I-NP +3.4 CD I-NP +billion CD I-NP +bid NN I-NP +for IN B-PP +Columbia NNP B-NP +and CC O +the DT B-NP +$ $ I-NP +200 CD I-NP +million CD I-NP +offer NN I-NP +for IN B-PP +Guber-Peters NNP B-NP +expired VBD B-VP +Monday NNP B-NP +. . O + +Sony NNP B-NP +has VBZ B-VP +agreed VBN I-VP +to TO I-VP +buy VB I-VP +both DT B-NP +companies NNS I-NP +, , O +but CC O +is VBZ B-VP +in IN B-PP +a DT B-NP +legal JJ I-NP +battle NN I-NP +with IN B-PP +Warner NNP B-NP +Communications NNP I-NP +Inc. NNP I-NP +over IN B-PP +the DT B-NP +services NNS I-NP +of IN B-PP +producers NNS B-NP +Peter NNP I-NP +Guber NNP I-NP +and CC I-NP +Jon NNP I-NP +Peters NNP I-NP +. . O + +In IN B-PP +a DT B-NP +filing NN I-NP +with IN B-PP +the DT B-NP +Securities NNP I-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +, , O +Sony NNP B-NP +also RB B-ADVP +said VBD B-VP +two CD B-NP +more JJR I-NP +suits NNS I-NP +have VBP B-VP +been VBN I-VP +filed VBN I-VP +opposing VBG B-VP +the DT B-NP +company NN I-NP +'s POS B-NP +agreement NN I-NP +to TO B-VP +buy VB I-VP +Columbia NNP B-NP +. . O + +Sony NNP B-NP +added VBD B-VP +that IN B-SBAR +a DT B-NP +hearing NN I-NP +has VBZ B-VP +been VBN I-VP +set VBN I-VP +for IN B-PP +Thursday NNP B-NP +in IN B-PP +the DT B-NP +Delaware NNP I-NP +Chancery NNP I-NP +Court NNP I-NP +in IN B-PP +one CD B-NP +of IN B-PP +the DT B-NP +suits NNS I-NP +. . O + +Thursday NNP B-NP +, , O +October NNP B-NP +19 CD I-NP +, , I-NP +1989 CD I-NP + +The DT B-NP +key JJ I-NP +U.S. NNP I-NP +and CC I-NP +foreign JJ I-NP +annual JJ I-NP +interest NN I-NP +rates NNS I-NP +below IN B-ADVP +are VBP B-VP +a DT B-NP +guide NN I-NP +to TO B-PP +general JJ B-NP +levels NNS I-NP +but CC O +do VBP B-VP +n't RB I-VP +always RB I-VP +represent VB I-VP +actual JJ B-NP +transactions NNS I-NP +. . O + +PRIME JJ B-NP +RATE NN I-NP +: : O +10 CD B-NP +1\/2 CD I-NP +% NN I-NP +. . O + +The DT B-NP +base NN I-NP +rate NN I-NP +on IN B-PP +corporate JJ B-NP +loans NNS I-NP +at IN B-PP +large JJ B-NP +U.S. NNP I-NP +money NN I-NP +center NN I-NP +commercial JJ I-NP +banks NNS I-NP +. . O + +FEDERAL JJ B-NP +FUNDS NNS I-NP +: : O +8 CD B-NP +3\/4 CD I-NP +% NN I-NP +high JJ B-ADJP +, , O +8 CD B-NP +5\/8 CD I-NP +% NN I-NP +low JJ B-ADJP +, , O +8 CD B-NP +11\/16 CD I-NP +% NN I-NP +near IN B-PP +closing VBG B-NP +bid NN I-NP +, , O +8 CD B-NP +11\/16 CD I-NP +% NN I-NP +offered VBN B-VP +. . O + +Reserves NNS B-NP +traded VBN B-VP +among IN B-PP +commercial JJ B-NP +banks NNS I-NP +for IN B-PP +overnight JJ B-NP +use NN I-NP +in IN B-PP +amounts NNS B-NP +of IN B-PP +$ $ B-NP +1 CD I-NP +million CD I-NP +or CC I-NP +more JJR I-NP +. . O + +Source NN B-NP +: : O +Fulton NNP B-NP +Prebon NNP I-NP +-LRB- ( O +U.S.A NNP O +. . O +-RRB- ) O +Inc NNP B-NP +. . O + +DISCOUNT NN B-NP +RATE NN I-NP +: : O +7 CD B-NP +% NN I-NP +. . O + +The DT B-NP +charge NN I-NP +on IN B-PP +loans NNS B-NP +to TO B-PP +depository NN B-NP +institutions NNS I-NP +by IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Federal NNP I-NP +Reserve NNP I-NP +Bank NNP I-NP +. . O + +CALL NN B-NP +MONEY NN I-NP +: : O +9 CD B-NP +3\/4 CD I-NP +% NN I-NP +to TO O +10 CD B-NP +% NN I-NP +. . O + +The DT B-NP +charge NN I-NP +on IN B-PP +loans NNS B-NP +to TO B-PP +brokers NNS B-NP +on IN B-PP +stock NN B-NP +exchange NN I-NP +collateral NN I-NP +. . O + +COMMERCIAL JJ B-NP +PAPER NN I-NP +placed VBN B-VP +directly RB B-ADVP +by IN B-PP +General NNP B-NP +Motors NNPS I-NP +Acceptance NNP I-NP +Corp. NNP I-NP +: : O +8.45 CD B-NP +% NN I-NP +30 CD B-NP +to TO I-NP +44 CD I-NP +days NNS I-NP +; : O +8.25 CD B-NP +% NN I-NP +45 CD B-NP +to TO I-NP +73 CD I-NP +days NNS I-NP +; : O +8.325 CD B-NP +% NN I-NP +74 CD B-NP +to TO I-NP +99 CD I-NP +days NNS I-NP +; : O +7.75 CD B-NP +% NN I-NP +100 CD B-NP +to TO I-NP +179 CD I-NP +days NNS I-NP +; : O +7.50 CD B-NP +% NN I-NP +180 CD B-NP +to TO I-NP +270 CD I-NP +days NNS I-NP +. . O + +COMMERCIAL JJ B-NP +PAPER NN I-NP +: : O +High-grade JJ B-NP +unsecured JJ I-NP +notes NNS I-NP +sold VBN B-VP +through IN B-PP +dealers NNS B-NP +by IN B-PP +major JJ B-NP +corporations NNS I-NP +in IN B-PP +multiples NNS B-NP +of IN B-PP +$ $ B-NP +1,000 CD I-NP +: : O +8.525 CD B-NP +% NN I-NP +30 CD B-NP +days NNS I-NP +; : O +8.425 CD B-NP +% NN I-NP +60 CD B-NP +days NNS I-NP +; : O +8.375 CD B-NP +% NN I-NP +90 CD B-NP +days NNS I-NP +. . O + +CERTIFICATES NNS B-NP +OF IN B-PP +DEPOSIT NN B-NP +: : O +8.05 CD B-NP +% NN I-NP +one CD B-NP +month NN I-NP +; : O +8.02 CD B-NP +% NN I-NP +two CD B-NP +months NNS I-NP +; : O +8 CD B-NP +% NN I-NP +three CD B-NP +months NNS I-NP +; : O +7.98 CD B-NP +% NN I-NP +six CD B-NP +months NNS I-NP +; : O +7.95 CD B-NP +% NN I-NP +one CD B-NP +year NN I-NP +. . O + +Average NNP B-NP +of IN B-PP +top JJ B-NP +rates NNS I-NP +paid VBN B-VP +by IN B-PP +major JJ B-NP +New NNP I-NP +York NNP I-NP +banks NNS I-NP +on IN B-PP +primary JJ B-NP +new JJ I-NP +issues NNS I-NP +of IN B-PP +negotiable JJ B-NP +C.D.s NNS I-NP +, , O +usually RB B-ADVP +on IN B-PP +amounts NNS B-NP +of IN B-PP +$ $ B-NP +1 CD I-NP +million CD I-NP +and CC I-NP +more JJR I-NP +. . O + +The DT B-NP +minimum JJ I-NP +unit NN I-NP +is VBZ B-VP +$ $ B-NP +100,000 CD I-NP +. . O + +Typical JJ B-NP +rates NNS I-NP +in IN B-PP +the DT B-NP +secondary JJ I-NP +market NN I-NP +: : O +8.60 CD B-NP +% NN I-NP +one CD B-NP +month NN I-NP +; : O +8.60 CD B-NP +% NN I-NP +three CD B-NP +months NNS I-NP +; : O +8.45 CD B-NP +% NN I-NP +six CD B-NP +months NNS I-NP +. . O + +BANKERS NNS B-NP +ACCEPTANCES NNS I-NP +: : O +8.45 CD B-NP +% NN I-NP +30 CD B-NP +days NNS I-NP +; : O +8.32 CD B-NP +% NN I-NP +60 CD B-NP +days NNS I-NP +; : O +8.32 CD B-NP +% NN I-NP +90 CD B-NP +days NNS I-NP +; : O +8.17 CD B-NP +% NN I-NP +120 CD B-NP +days NNS I-NP +; : O +8.08 CD B-NP +% NN I-NP +150 CD B-NP +days NNS I-NP +; : O +7.98 CD B-NP +% NN I-NP +180 CD B-NP +days NNS I-NP +. . O + +Negotiable JJ B-NP +, , I-NP +bank-backed JJ I-NP +business NN I-NP +credit NN I-NP +instruments NNS I-NP +typically RB B-VP +financing VBG I-VP +an DT B-NP +import NN I-NP +order NN I-NP +. . O + +LONDON NNP B-NP +LATE JJ I-NP +EURODOLLARS NNS I-NP +: : O +8 CD B-NP +11\/16 CD I-NP +% NN I-NP +to TO O +8 CD B-NP +9\/16 CD I-NP +% NN I-NP +one CD B-NP +month NN I-NP +; : O +8 CD B-NP +11\/16 CD I-NP +% NN I-NP +to TO O +8 CD B-NP +9\/16 CD I-NP +% NN I-NP +two CD B-NP +months NNS I-NP +; : O +8 CD B-NP +11\/16 CD I-NP +% NN I-NP +to TO O +8 CD B-NP +9\/16 CD I-NP +% NN I-NP +three CD B-NP +months NNS I-NP +; : O +8 CD B-NP +5\/8 CD I-NP +% NN I-NP +to TO O +8 CD B-NP +1\/2 CD I-NP +% NN I-NP +four CD B-NP +months NNS I-NP +; : O +8 CD B-NP +9\/16 CD I-NP +% NN I-NP +to TO O +8 CD B-NP +7\/16 CD I-NP +% NN I-NP +five CD B-NP +months NNS I-NP +; : O +8 CD B-NP +9\/16 CD I-NP +% NN I-NP +to TO O +8 CD B-NP +7\/16 CD I-NP +% NN I-NP +six CD B-NP +months NNS I-NP +. . O + +LONDON NNP B-NP +INTERBANK NNP I-NP +OFFERED NNP I-NP +RATES NNS I-NP +-LRB- ( O +LIBOR NNP B-NP +-RRB- ) O +: : O +8 CD B-NP +3\/4 CD I-NP +% NN I-NP +one CD B-NP +month NN I-NP +; : O +8 CD B-NP +11\/16 CD I-NP +% NN I-NP +three CD B-NP +months NNS I-NP +; : O +8 CD B-NP +9\/16 CD I-NP +% NN I-NP +six CD B-NP +months NNS I-NP +; : O +8 CD B-NP +9\/16 CD I-NP +% NN I-NP +one CD B-NP +year NN I-NP +. . O + +The DT B-NP +average NN I-NP +of IN B-PP +interbank NN B-NP +offered VBD I-NP +rates NNS I-NP +for IN B-PP +dollar NN B-NP +deposits NNS I-NP +in IN B-PP +the DT B-NP +London NNP I-NP +market NN I-NP +based VBN B-VP +on IN B-PP +quotations NNS B-NP +at IN B-PP +five CD B-NP +major JJ I-NP +banks NNS I-NP +. . O + +FOREIGN JJ B-NP +PRIME JJ I-NP +RATES NNS I-NP +: : O +Canada NNP B-NP +13.50 CD B-NP +% NN I-NP +; : O +Germany NNP B-NP +8.50 CD B-NP +% NN I-NP +; : O +Japan NNP B-NP +4.875 CD B-NP +% NN I-NP +; : O +Switzerland NNP B-NP +8.50 CD B-NP +% NN I-NP +; : O +Britain NNP B-NP +15 CD B-NP +% NN I-NP +. . O + +These DT B-NP +rate NN I-NP +indications NNS I-NP +are VBP B-VP +n't RB O +directly RB B-ADJP +comparable JJ I-ADJP +; : O +lending NN B-NP +practices NNS I-NP +vary VBP B-VP +widely RB B-ADVP +by IN B-PP +location NN B-NP +. . O + +TREASURY NN B-NP +BILLS NNS I-NP +: : O +Results NNS B-NP +of IN B-PP +the DT B-NP +Monday NNP I-NP +, , I-NP +October NNP I-NP +16 CD I-NP +, , I-NP +1989 CD I-NP +, , I-NP +auction NN I-NP +of IN B-PP +short-term NNP B-NP +U.S. NNP I-NP +government NN I-NP +bills NNS I-NP +, , O +sold VBN B-VP +at IN B-PP +a DT B-NP +discount NN I-NP +from IN B-PP +face NN B-NP +value NN I-NP +in IN B-PP +units NNS B-NP +of IN B-PP +$ $ B-NP +10,000 CD I-NP +to TO I-NP +$ $ I-NP +1 CD I-NP +million CD I-NP +: : O +7.37 CD B-NP +% NN I-NP +13 CD B-NP +weeks NNS I-NP +; : O +7.42 CD B-NP +% NN I-NP +26 CD B-NP +weeks NNS I-NP +. . O + +FEDERAL NNP B-NP +HOME NNP I-NP +LOAN NNP I-NP +MORTGAGE NNP I-NP +CORP NNP I-NP +. . O +-LRB- ( O +Freddie NNP B-NP +Mac NNP I-NP +-RRB- ) O +: : O +Posted VBN B-NP +yields NNS I-NP +on IN B-PP +30-year JJ B-NP +mortgage NN I-NP +commitments NNS I-NP +for IN B-PP +delivery NN B-NP +within IN B-PP +30 CD B-NP +days NNS I-NP +. . O + +9.87 CD B-NP +% NN I-NP +, , O +standard JJ B-NP +conventional JJ I-NP +fixed-rate JJ I-NP +mortgages NNS I-NP +; : O +7.875 CD B-NP +% NN I-NP +, , O +2 CD B-NP +% NN I-NP +rate NN I-NP +capped VBD I-NP +one-year JJ I-NP +adjustable JJ I-NP +rate NN I-NP +mortgages NNS I-NP +. . O + +Source NN B-NP +: : O +Telerate NNP B-NP +Systems NNP I-NP +Inc NNP I-NP +. . O + +FEDERAL NNP B-NP +NATIONAL NNP I-NP +MORTGAGE NNP I-NP +ASSOCIATION NNP I-NP +-LRB- ( O +Fannie NNP B-NP +Mae NNP I-NP +-RRB- ) O +: : O +Posted VBN B-NP +yields NNS I-NP +on IN B-PP +30 CD B-NP +year NN I-NP +mortgage NN I-NP +commitments NNS I-NP +for IN B-PP +delivery NN B-NP +within IN B-PP +30 CD B-NP +days NNS I-NP +-LRB- ( O +priced VBN B-VP +at IN B-PP +par NN B-NP +-RRB- ) O +9.81 CD B-NP +% NN I-NP +, , O +standard JJ B-NP +conventional JJ I-NP +fixed-rate JJ I-NP +mortgages NNS I-NP +; : O +8.70 CD B-NP +% NN I-NP +, , O +6\/2 CD B-NP +rate NN I-NP +capped VBD I-NP +one-year JJ I-NP +adjustable JJ I-NP +rate NN I-NP +mortgages NNS I-NP +. . O + +Source NN B-NP +: : O +Telerate NNP B-NP +Systems NNP I-NP +Inc NNP I-NP +. . O + +MERRILL NNP B-NP +LYNCH NNP I-NP +READY NNP I-NP +ASSETS NNP I-NP +TRUST NNP I-NP +: : O +8.50 CD B-NP +% NN I-NP +. . O + +Annualized VBN B-NP +average JJ I-NP +rate NN I-NP +of IN B-PP +return NN B-NP +after IN B-PP +expenses NNS B-NP +for IN B-PP +the DT B-NP +past JJ I-NP +30 CD I-NP +days NNS I-NP +; : O +not RB B-NP +a DT I-NP +forecast NN I-NP +of IN B-PP +future NN B-NP +returns NNS I-NP +. . O + +China NNP B-NP +said VBD B-VP +the DT B-NP +question NN I-NP +of IN B-PP +Taiwan NNP B-NP +'s POS B-NP +membership NN I-NP +in IN B-PP +the DT B-NP +General NNP I-NP +Agreement NNP I-NP +on IN B-PP +Tariffs NNPS B-NP +and CC I-NP +Trade NNP I-NP +should MD B-VP +be VB I-VP +considered VBN I-VP +only RB B-SBAR +after IN I-SBAR +China NNP B-NP +'s POS B-NP +own JJ I-NP +membership NN I-NP +in IN B-PP +the DT B-NP +97-nation JJ I-NP +organization NN I-NP +is VBZ B-VP +restored VBN I-VP +. . O + +Both DT B-NP +China NNP I-NP +and CC I-NP +Taiwan NNP I-NP +are VBP B-VP +seeking VBG I-VP +seats NNS B-NP +in IN B-PP +GATT NNP B-NP +, , O +which WDT B-NP +sponsors VBZ B-VP +trade-liberalizing JJ B-NP +agreements NNS I-NP +and CC O +sets VBZ B-VP +world-commerce JJ B-NP +rules NNS I-NP +. . O + +`` `` O +As IN B-PP +one CD B-NP +of IN B-PP +China NNP B-NP +'s POS B-NP +provinces NNS I-NP +, , O +Taiwan NNP B-NP +has VBZ B-VP +no DT B-NP +right NN I-NP +to TO B-VP +join VB I-VP +GATT NNP B-NP +on IN B-PP +its PRP$ B-NP +own JJ I-NP +, , O +'' '' O +Foreign NNP B-NP +Ministry NNP I-NP +spokesman NN I-NP +Li NNP I-NP +Zhaoxing NNP I-NP +said VBD B-VP +. . O + +China NNP B-NP +, , O +under IN B-PP +the DT B-NP +Nationalist JJ I-NP +government NN I-NP +of IN B-PP +Chiang NNP B-NP +Kai-shek NNP I-NP +, , O +was VBD B-VP +a DT B-NP +founding NN I-NP +member NN I-NP +of IN B-PP +GATT NNP B-NP +in IN B-PP +1947 CD B-NP +. . O + +The DT B-NP +Nationalists NNPS I-NP +withdrew VBD B-VP +in IN B-PP +1950 CD B-NP +, , O +after IN B-PP +their PRP$ B-NP +flight NN I-NP +to TO B-PP +Taiwan NNP B-NP +, , O +and CC O +the DT B-NP +Communist NNP I-NP +government NN I-NP +in IN B-PP +Beijing NNP B-NP +applied VBD B-VP +for IN B-PP +restoration NN B-NP +of IN B-PP +China NNP B-NP +'s POS B-NP +membership NN I-NP +in IN B-PP +July NNP B-NP +1986 CD I-NP +. . O + +The DT B-NP +U.S. NNP I-NP +has VBZ B-VP +voiced VBN I-VP +opposition NN B-NP +to TO B-PP +China NNP B-NP +'s POS B-NP +bid NN I-NP +for IN B-PP +GATT NNP B-NP +membership NN I-NP +, , O +saying VBG B-VP +China NNP B-NP +has VBZ B-VP +yet RB I-VP +to TO I-VP +undertake VB I-VP +needed VBN B-NP +economic JJ I-NP +reforms NNS I-NP +. . O + +Japan NNP B-NP +'s POS B-NP +biggest JJS O +women NNS B-NP +'s POS B-NP +underwear NN I-NP +maker NN I-NP +, , O +Wacoal NNP B-NP +Corp. NNP I-NP +, , O +said VBD B-VP +that IN B-SBAR +it PRP B-NP +developed VBD B-VP +a DT B-NP +sports NNS I-NP +car NN I-NP +that IN B-NP +it PRP B-NP +plans VBZ B-VP +to TO I-VP +market VB I-VP +in IN B-PP +two CD B-NP +years NNS I-NP +. . O + +The DT B-NP +`` `` I-NP +Jiotto NNP I-NP +Caspita NNP I-NP +'' '' O +can MD B-VP +run VB I-VP +at IN B-PP +over IN B-NP +188 CD I-NP +miles NNS I-NP +an DT B-NP +hour NN I-NP +, , O +a DT B-NP +company NN I-NP +spokesman NN I-NP +said VBD B-VP +. . O + +The DT B-NP +base NN I-NP +price NN I-NP +of IN B-PP +the DT B-NP +car NN I-NP +is VBZ B-VP +estimated VBN I-VP +at IN B-PP +30 CD B-NP +million CD I-NP +yen NN I-NP +-LRB- ( O +about RB B-NP +$ $ I-NP +213,000 CD I-NP +-RRB- ) O +. . O + +Wacoal NNP B-NP +said VBD B-VP +it PRP B-NP +intends VBZ B-VP +to TO I-VP +produce VB I-VP +the DT B-NP +cars NNS I-NP +through IN B-PP +a DT B-NP +car NN I-NP +manufacturer NN I-NP +. . O + +Along IN B-PP +with IN B-PP +the DT B-NP +car NN I-NP +, , O +Wacoal NNP B-NP +plans VBZ B-VP +to TO I-VP +launch VB I-VP +a DT B-NP +series NN I-NP +of IN B-PP +Caspita-brand JJ B-NP +men NNS I-NP +'s POS B-NP +underwear NN I-NP +. . O + +`` `` O +Our PRP$ B-NP +image NN I-NP +is VBZ B-VP +a DT B-NP +company NN I-NP +that WDT B-NP +makes VBZ B-VP +women NNS B-NP +'s POS B-NP +products NNS I-NP +, , O +'' '' O +said VBD B-VP +a DT B-NP +Wacoal NNP I-NP +spokesman NN I-NP +. . O + +`` `` O +Now RB B-ADVP +, , O +we PRP B-NP +'re VBP B-VP +going VBG I-VP +to TO I-VP +sell VB I-VP +to TO B-PP +men NNS B-NP +. . O +'' '' O + +The DT B-NP +British JJ I-NP +satirical JJ I-NP +magazine NN I-NP +Private NNP I-NP +Eye NNP I-NP +won VBD B-VP +an DT B-NP +appeal NN I-NP +against IN B-PP +the DT B-NP +size NN I-NP +of IN B-PP +a DT B-NP +$ $ I-NP +960,000 CD I-NP +libel NN I-NP +award NN I-NP +to TO B-PP +Sonia NNP B-NP +Sutcliffe NNP I-NP +, , O +the DT B-NP +estranged VBN I-NP +wife NN I-NP +of IN B-PP +the DT B-NP +`` `` I-NP +Yorkshire NNP I-NP +Ripper NNP I-NP +'' '' I-NP +mass NN I-NP +murderer NN I-NP +. . O + +An DT B-NP +appeals-court NN I-NP +panel NN I-NP +slashed VBD B-VP +all DT B-NP +but CC I-NP +$ $ I-NP +40,000 CD I-NP +from IN B-PP +the DT B-NP +award NN I-NP +, , O +the DT B-NP +largest JJS I-NP +ever RB B-VP +set VBN I-VP +by IN B-PP +a DT B-NP +British JJ I-NP +jury NN I-NP +, , O +pending VBG B-PP +a DT B-NP +reassessment NN I-NP +of IN B-PP +the DT B-NP +damages NNS I-NP +. . O + +But CC O +the DT B-NP +panel NN I-NP +dismissed VBD B-VP +the DT B-NP +magazine NN I-NP +'s POS B-NP +contention NN I-NP +that IN B-SBAR +it PRP B-NP +had VBD B-VP +n't RB I-VP +libeled VBN I-VP +Mrs. NNP B-NP +Sutcliffe NNP I-NP +when WRB B-ADVP +it PRP B-NP +accused VBD B-VP +her PRP B-NP +of IN B-PP +trying VBG B-VP +to TO I-VP +sell VB I-VP +her PRP$ B-NP +story NN I-NP +to TO B-VP +capitalize VB I-VP +on IN B-PP +the DT B-NP +notoriety NN I-NP +of IN B-PP +her PRP$ B-NP +husband NN I-NP +. . O + +Private NNP B-NP +Eye NNP I-NP +had VBD B-VP +been VBN I-VP +threatened VBN I-VP +with IN B-PP +closure NN B-NP +because IN B-SBAR +it PRP B-NP +could MD B-VP +n't RB I-VP +afford VB I-VP +the DT B-NP +libel NN I-NP +payment NN I-NP +. . O + +Senshukai NNP B-NP +Co. NNP I-NP +, , O +a DT B-NP +travel NN I-NP +agent NN I-NP +based VBN B-VP +in IN B-PP +Osaka NNP B-NP +, , O +Japan NNP B-NP +, , O +announced VBD B-VP +that IN B-SBAR +it PRP B-NP +and CC O +Nissho NNP B-NP +Iwai NNP I-NP +Corp. NNP I-NP +, , O +a DT B-NP +major JJ I-NP +Japanese JJ I-NP +trading NN I-NP +house NN I-NP +, , O +will MD B-VP +jointly RB I-VP +build VB I-VP +a DT B-NP +130-unit JJ I-NP +condominium NN I-NP +in IN B-PP +Queensland NNP B-NP +, , O +Australia NNP B-NP +. . O + +Senshukai NNP B-NP +said VBD B-VP +the DT B-NP +partners NNS I-NP +plan VBP B-VP +to TO I-VP +rent VB I-VP +to TO B-PP +tourists NNS B-NP +but CC O +will MD B-VP +also RB I-VP +sell VB I-VP +to TO B-PP +interested JJ B-NP +parties NNS I-NP +. . O + +Senshukai NNP B-NP +has VBZ B-VP +a DT B-NP +60 CD I-NP +% NN I-NP +stake NN I-NP +in IN B-PP +the DT B-NP +venture NN I-NP +and CC O +Nissho NNP B-NP +Iwai NNP I-NP +has VBZ B-VP +the DT B-NP +rest NN I-NP +. . O + +Construction NN B-NP +of IN B-PP +the DT B-NP +34-floor JJ I-NP +building NN I-NP +will MD B-VP +begin VB I-VP +next JJ B-NP +May NNP I-NP +and CC O +should MD B-VP +be VB I-VP +completed VBN I-VP +in IN B-PP +April NNP B-NP +1992 CD I-NP +. . O + +Units NNP B-NP +will MD B-VP +cost VB I-VP +from IN B-NP +500,000 CD I-NP +to TO I-NP +3.5 CD I-NP +million CD I-NP +Australian JJ I-NP +dollars NNS I-NP +-LRB- ( O +about IN B-NP +US$ $ I-NP +386,000 CD I-NP +to TO I-NP +US$ $ I-NP +2.7 CD I-NP +million CD I-NP +-RRB- ) O +. . O + +The DT B-NP +Soviet NNP I-NP +Union NNP I-NP +has VBZ B-VP +halted VBN I-VP +construction NN B-NP +of IN B-PP +two CD B-NP +Chernobyl-type JJ I-NP +nuclear JJ I-NP +reactors NNS I-NP +and CC O +is VBZ B-VP +reassessing VBG I-VP +the DT B-NP +future NN I-NP +of IN B-PP +12 CD B-NP +other JJ I-NP +existing VBG I-NP +reactors NNS I-NP +. . O + +Viktor NNP B-NP +Sidorenko NNP I-NP +, , O +vice NN B-NP +chairman NN I-NP +of IN B-PP +the DT B-NP +State NNP I-NP +Committee NNP I-NP +on IN B-PP +Nuclear NNP B-NP +Safety NNP I-NP +, , O +said VBD B-VP +the DT B-NP +two CD I-NP +reactors NNS I-NP +were VBD B-VP +at IN B-PP +Kursk NNP B-NP +and CC I-NP +Smolensk NNP I-NP +. . O + +News NNS B-NP +of IN B-PP +the DT B-NP +halt NN I-NP +comes VBZ B-VP +amid IN B-PP +growing VBG B-NP +anger NN I-NP +in IN B-PP +the DT B-NP +Ukraine NNP I-NP +and CC O +Byelorussia NNP B-NP +over IN B-PP +continuing VBG B-NP +high JJ I-NP +levels NNS I-NP +of IN B-PP +radiation NN B-NP +from IN B-PP +Chernobyl NNP B-NP +. . O + +A DT B-NP +former JJ I-NP +vice NN I-NP +president NN I-NP +of IN B-PP +the DT B-NP +Singapore NNP I-NP +branch NN I-NP +of IN B-PP +Drexel NNP B-NP +Burnham NNP I-NP +Lambert NNP I-NP +Group NNP I-NP +Inc. NNP I-NP +was VBD B-VP +charged VBN I-VP +in IN B-PP +court NN B-NP +yesterday NN B-NP +on IN B-PP +19 CD B-NP +counts NNS I-NP +of IN B-PP +cheating NN B-NP +. . O + +Francis NNP B-NP +Dang NNP I-NP +, , O +41 CD B-NP +, , O +is VBZ B-VP +alleged VBN I-VP +to TO I-VP +have VB I-VP +been VBN I-VP +involved VBN I-VP +in IN B-PP +cheating NN B-VP +Drexel NNP B-NP +Burnham NNP I-NP +Lambert NNP I-NP +of IN B-PP +up IN B-NP +to TO I-NP +2.1 CD I-NP +million CD I-NP +Singapore NNP I-NP +dollars NNS I-NP +-LRB- ( O +US$ $ B-NP +1.1 CD I-NP +million CD I-NP +-RRB- ) O +by IN B-PP +carrying VBG B-VP +out RP B-PRT +unauthorized JJ B-NP +transactions NNS I-NP +on IN B-PP +the DT B-NP +London NNP I-NP +Commodities NNP I-NP +Exchange NNP I-NP +and CC O +the DT B-NP +International NNP I-NP +Petroleum NNP I-NP +Exchange NNP I-NP +. . O + +Mr. NNP B-NP +Dang NNP I-NP +is VBZ B-VP +alleged VBN I-VP +to TO I-VP +have VB I-VP +used VBN I-VP +the DT B-NP +account NN I-NP +of IN B-PP +Singapore NNP B-NP +hotel NN I-NP +and CC I-NP +property NN I-NP +magnate NN I-NP +Ong NNP I-NP +Beng NNP I-NP +Seng NNP I-NP +to TO B-VP +effect VB I-VP +the DT B-NP +transactions NNS I-NP +. . O + +Japan NNP B-NP +says VBZ B-VP +its PRP$ B-NP +economic JJ I-NP +growth NN I-NP +will MD B-VP +fall VB I-VP +sharply RB B-ADVP +if IN B-SBAR +it PRP B-NP +cuts VBZ B-VP +back RB B-ADVP +on IN B-PP +the DT B-NP +use NN I-NP +of IN B-PP +oil NN B-NP +, , I-NP +coal NN I-NP +and CC I-NP +gas NN I-NP +to TO B-VP +cap VB I-VP +emissions NNS B-NP +of IN B-PP +carbon NN B-NP +dioxide NN I-NP +. . O + +A DT O +Ministry NNP O +of IN B-PP +International NNP B-NP +Trade NNP I-NP +and CC I-NP +Industry NN I-NP +official NN B-NP +said VBD B-VP +that IN B-SBAR +a DT B-NP +study NN I-NP +found VBD B-VP +that IN B-SBAR +Japan NNP B-NP +'s POS B-NP +annual JJ I-NP +economic JJ I-NP +growth NN I-NP +rate NN I-NP +would MD B-VP +eventually RB I-VP +be VB I-VP +only RB B-NP +0.8 CD I-NP +% NN I-NP +if IN B-SBAR +carbon-dioxide NN B-NP +emissions NNS I-NP +remained VBD B-VP +at IN B-PP +this DT B-NP +year NN I-NP +'s POS B-NP +level NN I-NP +of IN B-PP +300 CD B-NP +million CD I-NP +tons NNS I-NP +. . O + +The DT B-NP +study NN I-NP +will MD B-VP +support VB I-VP +arguments NNS B-NP +against IN B-PP +capping VBG B-VP +carbon-dioxide NN B-NP +emissions NNS I-NP +that IN B-NP +Japan NNP B-NP +will MD B-VP +make VB I-VP +at IN B-PP +a DT B-NP +U.N.-backed JJ I-NP +conference NN I-NP +on IN B-PP +atmospheric JJ B-NP +pollution NN I-NP +next JJ B-NP +month NN I-NP +. . O + +The DT B-NP +study NN I-NP +said VBD B-VP +Japan NNP B-NP +'s POS B-NP +carbon-dioxide NN I-NP +emissions NNS I-NP +would MD B-VP +slightly RB I-VP +more JJR I-VP +than IN I-VP +double JJ I-VP +by IN B-PP +2010 CD B-NP +unless IN B-SBAR +the DT B-NP +nation NN I-NP +reduced VBD B-VP +its PRP$ B-NP +dependence NN I-NP +on IN B-PP +fossil JJ B-NP +fuels NNS I-NP +. . O + +It PRP B-NP +said VBD B-VP +that IN B-SBAR +expanding VBG B-VP +nuclear-power JJ B-NP +capability NN I-NP +is VBZ B-VP +the DT B-NP +quickest JJS I-NP +way NN I-NP +to TO B-VP +lessen VB I-VP +that DT B-NP +dependence NN I-NP +. . O + +But CC O +increased VBN B-NP +reliance NN I-NP +on IN B-PP +nuclear JJ B-NP +power NN I-NP +would MD B-VP +meet VB I-VP +stiff JJ B-NP +opposition NN I-NP +from IN B-PP +environmentalists NNS B-NP +, , O +a DT B-NP +second JJ I-NP +ministry NN I-NP +official NN I-NP +said VBD B-VP +. . O + +Just RB B-PP +in IN I-PP +time NN B-NP +for IN B-PP +Halloween NNP B-NP +, , O +Britain NNP B-NP +'s POS B-NP +Oxford NNP I-NP +University NNP I-NP +Press NNP I-NP +is VBZ B-VP +publishing VBG I-VP +a DT B-NP +`` `` I-NP +Dictionary NNP I-NP +of IN B-PP +Superstitions NNPS B-NP +. . O +'' '' O + +The DT B-NP +books NNS I-NP +1,500 CD B-NP +entries NNS I-NP +include VBP B-VP +stepping VBG I-VP +on IN B-PP +cracks NNS B-NP +and CC O +knocking VBG B-VP +on IN B-PP +wood NN B-NP +... : O +. . O + +In IN B-PP +New NNP B-NP +Zealand NNP I-NP +'s POS B-NP +tiny JJ I-NP +township NN I-NP +of IN B-PP +Kaitaia NNP B-NP +, , O +which WDT B-NP +has VBZ B-VP +had VBN I-VP +direct JJ B-NP +dialing NN I-NP +for IN B-PP +less JJR B-NP +than IN I-NP +a DT I-NP +year NN I-NP +, , O +about IN B-NP +30 CD I-NP +angry JJ I-NP +phone-company NN I-NP +customers NNS I-NP +questioned VBD B-VP +the DT B-NP +size NN I-NP +of IN B-PP +their PRP$ B-NP +bills NNS I-NP +. . O + +It PRP B-NP +turned VBD B-VP +out RP B-PRT +their PRP$ B-NP +children NNS I-NP +had VBD B-VP +been VBN I-VP +dialing VBG I-VP +a DT B-NP +`` `` I-NP +sex NN I-NP +fantasy NN I-NP +'' '' I-NP +service NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +. . O + +Slowing VBG B-NP +sales NNS I-NP +of IN B-PP +its PRP$ B-NP +profitable JJ I-NP +Jeep NNP I-NP +Cherokee NNP I-NP +and CC I-NP +Wagoneer NNP I-NP +sport NN I-NP +utility NN I-NP +vehicles NNS I-NP +are VBP B-VP +forcing VBG I-VP +Chrysler NNP B-NP +Corp. NNP I-NP +to TO B-VP +temporarily RB I-VP +idle JJ I-VP +its PRP$ B-NP +Toledo NNP I-NP +, , I-NP +Ohio NNP I-NP +, , I-NP +assembly NN I-NP +plant NN I-NP +for IN B-PP +the DT B-NP +first JJ I-NP +time NN I-NP +since IN B-PP +April NNP B-NP +1986 CD I-NP +. . O + +About IN B-NP +5,500 CD I-NP +hourly JJ I-NP +workers NNS I-NP +will MD B-VP +be VB I-VP +laid VBN I-VP +off IN B-PRT +for IN B-PP +a DT B-NP +week NN I-NP +beginning VBG O +Oct. NNP B-NP +23 CD I-NP +, , O +and CC O +overtime NN B-NP +has VBZ B-VP +been VBN I-VP +eliminated VBN I-VP +at IN B-PP +the DT B-NP +plant NN I-NP +for IN B-PP +the DT B-NP +fourth JJ I-NP +quarter NN I-NP +, , O +a DT B-NP +Chrysler NNP I-NP +spokesman NN I-NP +said VBD B-VP +. . O + +That DT B-NP +'s VBZ B-VP +a DT B-NP +significant JJ I-NP +change NN I-NP +from IN B-PP +earlier RBR B-NP +this DT I-NP +year NN I-NP +when WRB B-ADVP +the DT B-NP +plant NN I-NP +worked VBD B-VP +substantial JJ B-NP +overtime NN I-NP +only RB B-ADVP +to TO B-VP +have VB I-VP +sales NNS B-NP +fall VB B-VP +short NN B-ADVP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +bullish JJ I-NP +expectations NNS I-NP +. . O + +Sales NNS B-NP +of IN B-PP +Cherokee NNP B-NP +, , O +the DT B-NP +best-selling JJ I-NP +Jeep NN I-NP +, , O +and CC O +the DT B-NP +lower-volume JJ I-NP +Wagoneer NNP I-NP +were VBD B-VP +actually RB B-ADVP +up IN B-ADVP +about IN B-NP +10 CD I-NP +% NN I-NP +through IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +last JJ B-NP +month NN I-NP +. . O + +But CC O +that DT B-NP +'s VBZ B-VP +less JJR B-ADJP +than IN B-SBAR +Chrysler NNP B-NP +officials NNS I-NP +had VBD B-VP +hoped VBN I-VP +when WRB B-ADVP +they PRP B-NP +set VBD B-VP +ambitious JJ B-NP +production NN I-NP +schedules NNS I-NP +for IN B-PP +the DT B-NP +Toledo NNP I-NP +plant NN I-NP +earlier RBR B-NP +this DT I-NP +year NN I-NP +. . O + +Even RB B-ADVP +when WRB B-ADVP +it PRP B-NP +became VBD B-VP +clear VB B-ADJP +this DT B-NP +spring NN I-NP +that DT O +demand NN B-NP +was VBD B-VP +n't RB I-VP +coming VBG I-VP +up IN B-PP +to TO B-PP +expectations NNS B-NP +, , O +Chrysler NNP B-NP +officials NNS I-NP +`` `` B-VP +resisted VBN I-VP +'' '' O +cutting VBG B-VP +output NN B-NP +because IN B-SBAR +Cherokee NNP B-NP +and CC I-NP +Wagoneer NNP I-NP +are VBP B-VP +`` `` O +very RB B-NP +profitable JJ I-NP +vehicles NNS I-NP +, , O +'' '' O +the DT B-NP +spokesman NN I-NP +said VBD B-VP +. . O + +Instead RB B-ADVP +, , O +Chrysler NNP B-NP +officials NNS I-NP +in IN B-PP +late JJ B-NP +May NNP I-NP +slapped VBD B-VP +$ $ B-NP +1,000 CD I-NP +cash NN I-NP +rebates NNS I-NP +on IN B-PP +the DT B-NP +vehicles NNS I-NP +, , O +including VBG B-PP +the DT B-NP +first JJ I-NP +such JJ I-NP +incentives NNS I-NP +on IN B-PP +the DT B-NP +popular JJ I-NP +four-door JJ I-NP +Cherokee NNP I-NP +since IN B-SBAR +Chrysler NNP B-NP +bought VBD B-VP +Jeep NN B-NP +in IN B-PP +1987 CD B-NP +. . O + +The DT B-NP +incentives NNS I-NP +boosted VBD B-VP +sales NNS B-NP +for IN B-PP +a DT B-NP +while NN I-NP +, , O +but CC O +the DT B-NP +pace NN I-NP +had VBD B-VP +cooled VBN I-VP +by IN B-PP +last JJ B-NP +month NN I-NP +. . O + +The DT B-NP +result NN I-NP +: : O +Chrysler NNP B-NP +dealers NNS I-NP +had VBD B-VP +a DT B-NP +bloated JJ I-NP +82-day JJ I-NP +supply NN I-NP +of IN B-PP +the DT B-NP +Cherokee NNP I-NP +as IN B-PP +of IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +last JJ B-NP +month NN I-NP +and CC O +a DT B-NP +161-day JJ I-NP +supply NN I-NP +of IN B-PP +the DT B-NP +Comanche NNP I-NP +pickup NN I-NP +, , O +which WDT B-NP +Toledo NNP B-NP +also RB B-ADVP +builds VBZ B-VP +. . O + +A DT B-NP +60-day JJ I-NP +to TO I-NP +65-day VB I-NP +supply NN I-NP +is VBZ B-VP +considered VBN I-VP +normal JJ B-ADJP +. . O + +At IN B-PP +Jasper NNP B-NP +Jeep-Eagle NNP I-NP +, , O +one CD B-NP +of IN B-PP +the DT B-NP +largest JJS I-NP +Jeep NN I-NP +dealerships NNS I-NP +in IN B-PP +the DT B-NP +country NN I-NP +, , O +inventories NNS B-NP +have VBP B-VP +continued VBN I-VP +to TO I-VP +swell VB I-VP +. . O + +Steve NNP B-NP +Lowe NNP I-NP +, , O +general JJ B-NP +manager NN I-NP +of IN B-PP +Jasper NNP B-NP +, , I-NP +Ga. NNP I-NP +, , I-NP +dealership NN I-NP +, , O +said VBD B-VP +new JJ B-NP +rebates NNS I-NP +of IN B-PP +$ $ B-NP +500 CD I-NP +to TO I-NP +$ $ I-NP +1,000 CD I-NP +on IN B-PP +the DT B-NP +models NNS I-NP +have VBP B-VP +stimulated VBN I-VP +sales NNS B-NP +, , O +but CC O +not RB B-ADVP +enough RB I-ADVP +to TO B-VP +significantly RB I-VP +cut VB I-VP +dealer NN B-NP +stocks NNS I-NP +. . O + +`` `` O +If IN B-SBAR +people NNS B-NP +are VBP B-VP +n't RB I-VP +buying VBG I-VP +, , O +you PRP B-NP +have VBP B-VP +to TO I-VP +close VB I-VP +plants NNS B-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +Separately RB B-ADVP +, , O +Chrysler NNP B-NP +said VBD B-VP +it PRP B-NP +will MD B-VP +idle VB I-VP +for IN B-PP +four CD B-NP +weeks NNS I-NP +the DT B-NP +St. NNP I-NP +Louis NNP I-NP +assembly NN I-NP +plant NN I-NP +that WDT B-NP +builds VBZ B-VP +the DT B-NP +Chrysler NNP I-NP +LeBaron NNP I-NP +and CC I-NP +Dodge NNP I-NP +Daytona NNP I-NP +models NNS I-NP +. . O + +Chrysler NNP B-NP +officials NNS I-NP +said VBD B-VP +the DT B-NP +plant NN I-NP +is VBZ B-VP +scheduled VBN I-VP +to TO I-VP +resume VB I-VP +production NN B-NP +on IN B-PP +Nov. NNP B-NP +20. CD I-NP +, , O +and CC O +3,300 CD B-NP +hourly JJ I-NP +workers NNS I-NP +will MD B-VP +be VB I-VP +affected VBN I-VP +. . O + +General NNP B-NP +Motors NNPS I-NP +Corp. NNP I-NP +, , O +meanwhile RB B-ADVP +, , O +said VBD B-VP +it PRP B-NP +will MD B-VP +idle VB I-VP +for IN B-PP +yet RB B-NP +another DT I-NP +week NN I-NP +its PRP$ B-NP +Linden NNP I-NP +, , I-NP +N.J. NNP I-NP +, , I-NP +assembly NN I-NP +plant NN I-NP +, , O +bringing VBG B-VP +to TO B-PP +three CD B-NP +weeks NNS I-NP +the DT B-NP +total JJ I-NP +time NN I-NP +that DT B-NP +plant NN I-NP +will MD B-VP +be VB I-VP +idled VBN I-VP +during IN B-PP +October NNP B-NP +. . O + +GM NNP B-NP +said VBD B-VP +the DT B-NP +assembly NN I-NP +plant NN I-NP +, , O +which WDT B-NP +builds VBZ B-VP +the DT B-NP +Chevrolet NNP I-NP +Corsica NNP I-NP +and CC I-NP +Beretta NNP I-NP +compact JJ I-NP +cars NNS I-NP +, , O +originally RB B-VP +was VBD I-VP +scheduled VBN I-VP +to TO I-VP +reopen VB I-VP +Monday NNP B-NP +but CC O +now RB B-VP +will MD I-VP +not RB I-VP +resume VB I-VP +production NN B-NP +until IN B-PP +Oct. NNP B-NP +30 CD I-NP +. . O + +The DT B-NP +shutdown NN I-NP +affects VBZ B-VP +3,000 CD B-NP +workers NNS I-NP +and CC O +will MD B-VP +cut VB I-VP +output NN B-NP +by IN B-PP +about IN B-NP +4,320 CD I-NP +cars NNS I-NP +. . O + +Sluggish JJ B-NP +sales NNS I-NP +of IN B-PP +the DT B-NP +Beretta NNP I-NP +and CC I-NP +Corsica NNP I-NP +spurred VBD B-VP +GM NNP B-NP +to TO B-VP +offer VB I-VP +$ $ B-NP +800 CD I-NP +rebates NNS I-NP +on IN B-PP +those DT B-NP +cars NNS I-NP +. . O + +The DT B-NP +Corsica NNP I-NP +and CC I-NP +Beretta NNP I-NP +make VB B-VP +up IN B-PRT +the DT B-NP +highest-volume JJ I-NP +car NN I-NP +line NN I-NP +at IN B-PP +Chevrolet NNP B-NP +, , O +but CC O +sales NNS B-NP +of IN B-PP +the DT B-NP +cars NNS I-NP +are VBP B-VP +off IN B-ADVP +9.6 CD B-NP +% NN I-NP +for IN B-PP +the DT B-NP +year NN I-NP +, , O +and CC O +fell VBD B-VP +a DT B-NP +steep JJ I-NP +34.2 CD I-NP +% NN I-NP +early JJ B-NP +this DT I-NP +month NN I-NP +. . O + +GM NNP B-NP +has VBZ B-VP +scheduled VBN I-VP +overtime NN B-NP +at IN B-PP +its PRP$ B-NP +Lordstown NNP I-NP +, , I-NP +Ohio NNP I-NP +, , I-NP +and CC I-NP +Janesville NNP I-NP +, , I-NP +Wis. NNP I-NP +, , I-NP +assembly NN I-NP +plants NNS I-NP +, , O +which WDT B-NP +build VBP B-VP +the DT B-NP +Chevrolet NNP I-NP +Cavalier NNP I-NP +. . O + +Ford NNP B-NP +Motor NNP I-NP +Co. NNP I-NP +said VBD B-VP +it PRP B-NP +will MD B-VP +shut VB I-VP +down RB B-PRT +for IN B-PP +one CD B-NP +week NN I-NP +its PRP$ B-NP +Kentucky NNP I-NP +Truck NNP I-NP +Plant NNP I-NP +because IN B-PP +of IN I-PP +a DT B-NP +`` `` I-NP +shortage NN I-NP +of IN B-PP +dealer NN B-NP +orders NNS I-NP +. . O +'' '' O + +The DT B-NP +shutdown NN I-NP +will MD B-VP +idle VB I-VP +2,000 CD B-NP +hourly JJ I-NP +employees NNS I-NP +and CC O +eliminate VB B-VP +production NN B-NP +of IN B-PP +about IN B-NP +1,300 CD I-NP +medium NN I-NP +and CC I-NP +heavy JJ I-NP +duty NN I-NP +trucks NNS I-NP +. . O + +The DT B-NP +assembly NN I-NP +plant NN I-NP +is VBZ B-VP +scheduled VBN I-VP +to TO I-VP +resume VB I-VP +production NN B-NP +on IN B-PP +Oct. NNP B-NP +30 CD I-NP +. . O + +Meanwhile RB B-ADVP +, , O +the DT B-NP +nine CD I-NP +major JJ I-NP +U.S. NNP I-NP +auto NN I-NP +makers NNS I-NP +plan VBP B-VP +to TO I-VP +build VB I-VP +143,178 CD B-NP +cars NNS I-NP +this DT B-NP +week NN I-NP +, , O +down RB B-ADVP +11.7 CD B-NP +% NN I-NP +from IN B-PP +162,190 CD B-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +and CC O +flat JJ B-ADJP +with IN B-PP +last JJ B-NP +week NN I-NP +'s POS B-NP +142,117 CD I-NP +car NN I-NP +output NN I-NP +. . O + +f NN B-NP +- : O +Includes VBZ B-VP +Chevrolet NNP B-NP +Prizm NNP I-NP +and CC O +Toyota NNP B-NP +Corolla NNP I-NP +. . O + +r NN B-NP +- : O +Revised NNP B-VP +. . O + +x NN B-NP +- : O +Year-to-date JJ B-NP +1988 CD I-NP +figure NN I-NP +includes VBZ B-VP +Volkswagen NNP B-NP +domestic-production NN I-NP +through IN B-PP +July NNP B-NP +. . O + +LOTUS NNP B-NP +DEVELOPMENT NNP I-NP +Corp. NNP I-NP +'s POS B-NP +net JJ I-NP +income NN I-NP +rose VBD B-VP +61 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +from IN B-PP +the DT B-NP +year-earlier JJ I-NP +period NN I-NP +. . O + +Yesterday NN B-NP +'s POS B-NP +edition NN I-NP +misstated VBD B-VP +the DT B-NP +percentage NN I-NP +increase NN I-NP +. . O + +First NNP B-NP +Fidelity NNP I-NP +Bancorp. NNP I-NP +, , O +Lawrenceville NNP B-NP +, , O +N.J. NNP B-NP +, , O +reported VBD B-VP +a DT B-NP +24 CD I-NP +% NN I-NP +drop NN I-NP +in IN B-PP +third-quarter JJ B-NP +profit NN I-NP +, , O +because IN B-PP +of IN I-PP +a DT B-NP +decline NN I-NP +in IN B-PP +earning VBG B-NP +assets NNS I-NP +, , O +lower JJR B-NP +loan NN I-NP +volume NN I-NP +and CC O +tighter JJR B-NP +interest NN I-NP +margins NNS I-NP +. . O + +The DT B-NP +bank NN I-NP +holding VBG I-NP +company NN I-NP +posted VBD B-VP +net JJ B-NP +income NN I-NP +of IN B-PP +$ $ B-NP +54.4 CD I-NP +million CD I-NP +, , O +or CC O +87 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +including VBG B-PP +$ $ B-NP +1.7 CD I-NP +million CD I-NP +, , O +or CC O +three CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +one-time JJ B-NP +tax NN I-NP +benefits NNS I-NP +. . O + +A DT B-NP +year NN I-NP +earlier RBR B-ADVP +, , O +net NN B-NP +was VBD B-VP +$ $ B-NP +71.6 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.22 CD I-NP +a DT B-NP +share NN I-NP +. . O + +First NNP B-NP +Fidelity NNP I-NP +said VBD B-VP +non-performing JJ B-NP +assets NNS I-NP +increased VBN B-VP +to TO B-PP +$ $ B-NP +482.3 CD I-NP +million CD I-NP +Sept. NNP B-NP +30 CD I-NP +from IN B-PP +$ $ B-NP +393.1 CD I-NP +million CD I-NP +June NNP B-NP +30 CD I-NP +. . O + +The DT B-NP +rise NN I-NP +resulted VBD B-VP +from IN B-PP +the DT B-NP +transfer NN I-NP +to TO B-PP +non-accrual JJ B-NP +status NN I-NP +of IN B-PP +$ $ B-NP +96 CD I-NP +million CD I-NP +`` `` O +owed VBN B-VP +by IN B-PP +two CD B-NP +national JJ I-NP +borrowers NNS I-NP +and CC O +one CD B-NP +local JJ I-NP +commercial JJ I-NP +real-estate NN I-NP +customer NN I-NP +, , O +'' '' O +First NNP B-NP +Fidelity NNP I-NP +said VBD B-VP +. . O + +It PRP B-NP +said VBD B-VP +it PRP B-NP +does VBZ B-VP +n't RB I-VP +anticipate VB I-VP +any DT B-NP +loss NN I-NP +of IN B-PP +principal JJ B-NP +on IN B-PP +two CD B-NP +of IN B-PP +the DT B-NP +loans NNS I-NP +, , O +comprising VBG B-VP +$ $ B-NP +85 CD I-NP +million CD I-NP +of IN B-PP +these DT B-NP +credits NNS I-NP +. . O + +First NNP B-NP +Fidelity NNP I-NP +said VBD B-VP +it PRP B-NP +boosted VBD B-VP +its PRP$ B-NP +loan-loss NN I-NP +provision NN I-NP +to TO B-PP +$ $ B-NP +50.9 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +20.4 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +, , O +primarily RB B-PP +because IN I-PP +of IN I-PP +a DT B-NP +weaker JJR I-NP +real-estate NN I-NP +sector NN I-NP +in IN B-PP +the DT B-NP +region NN I-NP +. . O + +VIACOM NNP B-NP +Inc. NNP I-NP +'s POS B-NP +loss NN I-NP +narrowed VBD B-VP +to TO B-PP +$ $ B-NP +21.7 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +from IN B-PP +$ $ B-NP +56.9 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Thursday NNP B-NP +'s POS B-NP +edition NN I-NP +misstated VBD B-VP +the DT B-NP +narrowing NN I-NP +. . O + +Coastal NNP B-NP +Corp. NNP I-NP +said VBD B-VP +it PRP B-NP +signed VBD B-VP +a DT B-NP +definitive JJ I-NP +agreement NN I-NP +with IN B-PP +Aruba NNP B-NP +to TO B-VP +restart VB I-VP +a DT B-NP +150,000-barrel-a-day JJ I-NP +oil NN I-NP +refinery NN I-NP +. . O + +Coastal NNP B-NP +would MD B-VP +n't RB I-VP +disclose VB I-VP +the DT B-NP +terms NNS I-NP +. . O + +Coastal NNP B-NP +, , O +a DT B-NP +Houston NNP I-NP +oil NN I-NP +and CC I-NP +gas NN I-NP +company NN I-NP +, , O +said VBD B-VP +it PRP B-NP +expects VBZ B-VP +to TO I-VP +begin VB I-VP +operations NNS B-NP +in IN B-PP +October NNP B-NP +1990 CD I-NP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +it PRP B-NP +may MD B-VP +install VB I-VP +additional JJ B-NP +processing NN I-NP +units NNS I-NP +at IN B-PP +the DT B-NP +refinery NN I-NP +to TO B-VP +produce VB I-VP +higher JJR B-NP +octane NN I-NP +gasolines NNS I-NP +and CC O +other JJ B-NP +products NNS I-NP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +it PRP B-NP +was VBD B-VP +leasing VBG I-VP +the DT B-NP +site NN I-NP +of IN B-PP +the DT B-NP +refinery NN I-NP +from IN B-PP +Aruba NNP B-NP +. . O + +Exxon NNP B-NP +Corp. NNP I-NP +built VBD B-VP +the DT B-NP +plant NN I-NP +but CC O +closed VBD B-VP +it PRP B-NP +in IN B-PP +1985 CD B-NP +and CC O +sold VBN B-VP +off IN B-PRT +much NN B-NP +of IN B-PP +the DT B-NP +equipment NN I-NP +to TO B-PP +dismantling VBG B-NP +contractors NNS I-NP +, , O +from IN B-PP +whom WP B-NP +Coastal NNP B-NP +bought VBD B-VP +back JJ B-ADVP +much NN B-NP +of IN B-PP +the DT B-NP +equipment NN I-NP +. . O + +A DT B-NP +Coastal NNP I-NP +spokesman NN I-NP +said VBD B-VP +the DT B-NP +biggest JJS I-NP +expense NN I-NP +will MD B-VP +be VB I-VP +to TO B-VP +refurbish VB I-VP +the DT B-NP +refinery NN I-NP +but CC O +would MD B-VP +n't RB I-VP +say VB I-VP +how WRB B-NP +much JJ I-NP +that WDT B-NP +would MD B-VP +be VB I-VP +. . O + +The DT B-NP +prime JJ I-NP +minister NN I-NP +of IN B-PP +Aruba NNP B-NP +has VBZ B-VP +said VBD I-VP +it PRP B-NP +could MD B-VP +cost VB I-VP +around IN B-NP +$ $ I-NP +100 CD I-NP +million CD I-NP +. . O + +Coastal NNP B-NP +said VBD B-VP +the DT B-NP +refinery NN I-NP +'s POS B-NP +expected VBN I-NP +daily JJ I-NP +production NN I-NP +will MD B-VP +include VB I-VP +34,000 CD B-NP +barrels NNS I-NP +of IN B-PP +jet NN B-NP +fuel NN I-NP +, , O +32,000 CD B-NP +barrels NNS I-NP +of IN B-PP +low-sulfur JJ B-NP +diesel NN I-NP +fuel NN I-NP +, , O +30,000 CD B-NP +barrels NNS I-NP +of IN B-PP +naphtha NN B-NP +, , O +17,000 CD B-NP +barrels NNS I-NP +of IN B-PP +residual JJ B-NP +fuel NN I-NP +oil NN I-NP +, , O +8,000 CD B-NP +barrels NNS I-NP +of IN B-PP +asphalt NN B-NP +and CC O +25,000 CD B-NP +barrels NNS I-NP +of IN B-PP +low-sulfur JJ B-NP +catalytic JJ I-NP +cracker NN I-NP +feedstock NN I-NP +. . O + +Loral NNP B-NP +Corp. NNP I-NP +said VBD B-VP +fiscal JJ B-NP +second-quarter JJ I-NP +net JJ I-NP +income NN I-NP +was VBD B-VP +$ $ B-NP +19.8 CD I-NP +million CD I-NP +, , O +or CC O +79 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +compared VBN B-PP +with IN B-PP +year-earlier JJ B-NP +earnings NNS I-NP +from IN B-PP +continuing VBG B-NP +operations NNS I-NP +of IN B-PP +$ $ B-NP +15.6 CD I-NP +million CD I-NP +, , O +or CC O +62 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +Year-earlier JJ B-NP +net NN I-NP +of IN B-PP +$ $ B-NP +21 CD I-NP +million CD I-NP +, , O +or CC O +84 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +included VBD B-VP +the DT B-NP +results NNS I-NP +of IN B-PP +Loral NNP B-NP +'s POS B-NP +former JJ I-NP +Aircraft NNP I-NP +Braking NNP I-NP +Systems NNPS I-NP +and CC I-NP +Engineered NNP I-NP +Fabrics NNP I-NP +divisions NNS I-NP +, , O +which WDT B-NP +were VBD B-VP +sold VBN I-VP +April NNP B-NP +27 CD I-NP +to TO B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +chairman NN I-NP +, , O +Bernard NNP B-NP +L. NNP I-NP +Schwartz NNP I-NP +. . O + +The DT B-NP +defense NN I-NP +electronics NNS I-NP +concern VBP I-NP +attributed VBD B-VP +the DT B-NP +operating VBG I-NP +improvement NN I-NP +to TO B-PP +higher JJR B-NP +profit NN I-NP +margins NNS I-NP +and CC O +lower JJR B-NP +net JJ I-NP +interest NN I-NP +expense NN I-NP +. . O + +Loral NNP B-NP +also RB B-ADVP +reported VBD B-VP +that IN B-SBAR +its PRP$ B-NP +bookings NNS I-NP +more RBR B-VP +than IN I-VP +doubled VBN I-VP +to TO B-PP +$ $ B-NP +654 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +quarter NN I-NP +, , O +ended VBN B-VP +Sept. NNP B-NP +30 CD I-NP +, , O +from IN B-PP +$ $ B-NP +257 CD I-NP +million CD I-NP +, , O +in IN B-PP +the DT B-NP +year-before JJ I-NP +period NN I-NP +. . O + +The DT B-NP +increase NN I-NP +was VBD B-VP +due JJ B-ADJP +mainly RB I-ADJP +to TO B-PP +a DT B-NP +$ $ I-NP +325 CD I-NP +million CD I-NP +order NN I-NP +from IN B-PP +Turkey NNP B-NP +to TO B-VP +equip VB I-VP +its PRP$ B-NP +fleet NN I-NP +of IN B-PP +F-16 NNP B-NP +fighters NNS I-NP +with IN B-PP +Loral NNP B-NP +'s POS B-NP +ALQ-178 NNP I-NP +Rapport NNP I-NP +III NNP I-NP +electronic JJ I-NP +countermeasures NNS I-NP +system NN I-NP +. . O + +The DT B-NP +order NN I-NP +is VBZ B-VP +the DT B-NP +biggest JJS I-NP +in IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +history NN I-NP +. . O + +Sales NNS B-NP +in IN B-PP +the DT B-NP +latest JJS I-NP +period NN I-NP +edged VBD B-VP +up IN B-ADVP +to TO B-PP +$ $ B-NP +295.7 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +293.9 CD I-NP +million CD I-NP +. . O + +Mr. NNP B-NP +Schwartz NNP I-NP +said VBD B-VP +the DT B-NP +recent JJ I-NP +increase NN I-NP +in IN B-PP +orders NNS B-NP +`` `` O +puts VBZ B-VP +us PRP B-NP +well RB B-PP +on IN I-PP +the DT B-NP +way NN I-NP +to TO B-PP +our PRP$ B-NP +goal NN I-NP +of IN B-PP +$ $ B-NP +1.6 CD I-NP +billion CD I-NP +in IN B-PP +bookings NNS B-NP +for IN B-PP +the DT B-NP +year NN I-NP +. . O +'' '' O + +He PRP B-NP +added VBD B-VP +: : O +`` `` O +I PRP B-NP +expect VBP B-VP +to TO I-VP +see VB I-VP +the DT B-NP +earnings NNS I-NP +momentum NN I-NP +we PRP B-NP +experienced VBD B-VP +this DT B-NP +quarter NN I-NP +continue VB B-VP +for IN B-PP +the DT B-NP +rest NN I-NP +of IN B-PP +the DT B-NP +year NN I-NP +. . O +'' '' O + +Loral NNP B-NP +said VBD B-VP +it PRP B-NP +expects VBZ B-VP +sales NNS B-NP +to TO B-VP +accelerate VB I-VP +in IN B-PP +both DT B-NP +the DT I-NP +third JJ I-NP +and CC I-NP +fourth JJ I-NP +quarters NNS I-NP +of IN B-PP +this DT B-NP +fiscal JJ I-NP +year NN I-NP +. . O + +Loral NNP B-NP +'s POS B-NP +profit NN I-NP +from IN B-PP +continuing VBG B-NP +operations NNS I-NP +for IN B-PP +the DT B-NP +first JJ I-NP +six CD I-NP +months NNS I-NP +of IN B-PP +fiscal JJ B-NP +1990 CD I-NP +was VBD B-VP +$ $ B-NP +36.4 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.44 CD I-NP +a DT B-NP +share NN I-NP +, , O +up IN B-ADVP +31 CD B-NP +% NN I-NP +from IN B-PP +$ $ B-NP +27.8 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.11 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Net JJ B-NP +income NN I-NP +fell VBD B-VP +8.6 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +37.1 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.43 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +40.6 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.56 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Fiscal JJ B-NP +first-half JJ I-NP +sales NNS I-NP +slipped VBD B-VP +3.9 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +528.4 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +549.9 CD I-NP +million CD I-NP +. . O + +Bookings NNS B-NP +for IN B-PP +the DT B-NP +first JJ I-NP +half NN I-NP +totaled VBD B-VP +$ $ B-NP +813 CD I-NP +million CD I-NP +, , O +compared VBN B-PP +with IN B-PP +the DT B-NP +$ $ I-NP +432 CD I-NP +million CD I-NP +recorded VBN B-VP +last JJ B-NP +year NN I-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +, , O +Loral NNP B-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +33.25 CD I-NP +, , O +down RB B-ADVP +37.5 CD B-NP +cents NNS I-NP +. . O + +HealthVest NNP B-NP +said VBD B-VP +two CD B-NP +of IN B-PP +its PRP$ B-NP +lenders NNS I-NP +have VBP B-VP +given VBN I-VP +it PRP B-NP +notices NNS B-NP +of IN B-PP +default NN B-NP +on IN B-PP +bank NN B-NP +loans NNS I-NP +and CC O +said VBD B-VP +they PRP B-NP +may MD B-VP +take VB I-VP +actions NNS B-NP +to TO B-VP +recover VB I-VP +their PRP$ B-NP +loans NNS I-NP +. . O + +HealthVest NNP B-NP +, , O +an DT B-NP +Austin NNP I-NP +, , I-NP +Texas NNP I-NP +, , I-NP +real JJ I-NP +estate NN I-NP +investment NN I-NP +trust NN I-NP +, , O +said VBD B-VP +that IN B-SBAR +Chemical NNP B-NP +Bank NNP I-NP +, , O +the DT B-NP +lead NN I-NP +bank NN I-NP +under IN B-PP +its PRP$ B-NP +domestic JJ I-NP +bank NN I-NP +agreement NN I-NP +, , O +told VBD B-VP +it PRP B-NP +that IN B-SBAR +if IN B-SBAR +$ $ B-NP +3.3 CD I-NP +million CD I-NP +owed VBN B-VP +to TO B-PP +the DT B-NP +bank NN I-NP +group NN I-NP +is VBZ B-VP +n't RB I-VP +paid VBN I-VP +by IN B-PP +today NN B-NP +, , O +the DT B-NP +group NN I-NP +will MD B-VP +call VB I-VP +the DT B-NP +$ $ I-NP +120 CD I-NP +million CD I-NP +that IN B-NP +HealthVest NNP B-NP +has VBZ B-VP +outstanding JJ B-ADJP +under IN B-PP +the DT B-NP +credit NN I-NP +line NN I-NP +. . O + +The DT B-NP +bank NN I-NP +group NN I-NP +also RB B-ADVP +said VBD B-VP +that IN B-SBAR +it PRP B-NP +wo MD B-VP +n't RB I-VP +make VB I-VP +additional JJ B-NP +advances NNS I-NP +under IN B-PP +the DT B-NP +$ $ I-NP +150 CD I-NP +million CD I-NP +credit NN I-NP +line NN I-NP +. . O + +HealthVest NNP B-NP +missed VBD B-VP +a DT B-NP +payment NN I-NP +to TO B-PP +the DT B-NP +group NN I-NP +that WDT B-NP +was VBD B-VP +due JJ B-ADJP +in IN B-PP +late JJ B-NP +September NNP I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +HealthVest NNP B-NP +said VBD B-VP +Bank NNP B-NP +of IN B-PP +Tokyo NNP B-NP +Trust NNP I-NP +Co. NNP I-NP +also RB B-ADVP +has VBZ B-VP +notified VBN I-VP +it PRP B-NP +of IN B-PP +a DT B-NP +default NN I-NP +and CC O +said VBD B-VP +it PRP B-NP +might MD B-VP +take VB I-VP +action NN B-NP +to TO B-VP +cure VB I-VP +the DT B-NP +default NN I-NP +. . O + +HealthVest NNP B-NP +missed VBD B-VP +an DT B-NP +interest NN I-NP +payment NN I-NP +to TO B-PP +Bank NNP B-NP +of IN B-PP +Tokyo NNP B-NP +on IN B-PP +Oct. NNP B-NP +1 CD I-NP +. . O + +However RB B-ADVP +, , O +HealthVest NNP B-NP +said VBD B-VP +the DT B-NP +Tokyo NNP I-NP +bank NN I-NP +indicated VBD B-VP +that IN B-SBAR +it PRP B-NP +wo MD B-VP +n't RB I-VP +accelerate VB I-VP +HealthVest NNP B-NP +'s POS B-NP +$ $ B-ADJP +50 CD O +million CD O +loan NN B-NP +. . O + +HealthVest NNP B-NP +is VBZ B-VP +in IN B-PP +a DT B-NP +severe JJ I-NP +liquidity NN I-NP +bind NN I-NP +because IN B-SBAR +its PRP$ B-NP +affiliate NN I-NP +, , O +Healthcare NNP B-NP +International NNP I-NP +Inc. NNP I-NP +, , O +has VBZ B-VP +failed VBN I-VP +to TO I-VP +make VB I-VP +about RB B-NP +$ $ I-NP +10.6 CD I-NP +million CD I-NP +in IN B-PP +principal NN B-NP +and CC I-NP +interest NN I-NP +payments NNS I-NP +owed VBN B-VP +since IN B-PP +August NNP B-NP +. . O + +Healthcare NNP B-NP +operates VBZ B-VP +many NN B-NP +of IN B-PP +the DT B-NP +health-care NN I-NP +properties NNS I-NP +that IN B-NP +HealthVest NNP B-NP +owns VBZ B-VP +. . O + +EMPIRE NNP B-NP +PENCIL NNP I-NP +, , O +later RB B-VP +called VBN I-VP +Empire-Berol NNP B-NP +, , O +developed VBD B-VP +the DT B-NP +plastic NN I-NP +pencil NN I-NP +in IN B-PP +1973 CD B-NP +. . O + +Yesterday NN B-NP +'s POS B-NP +Centennial NNP I-NP +Journal NNP I-NP +misstated VBD B-VP +the DT B-NP +company NN I-NP +'s POS B-NP +name NN I-NP +. . O + +Storage NNP B-NP +Technology NNP I-NP +Corp. NNP I-NP +had VBD B-VP +net JJ B-NP +income NN I-NP +of IN B-PP +$ $ B-NP +8.3 CD I-NP +million CD I-NP +, , O +or CC O +32 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +for IN B-PP +its PRP$ B-NP +fiscal-third JJ I-NP +quarter NN I-NP +ended VBN B-VP +Sept. NNP B-NP +29 CD I-NP +, , O +almost RB B-NP +15 CD I-NP +times VBZ I-NP +the DT I-NP +$ $ I-NP +557,000 CD I-NP +, , O +or CC O +two CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +it PRP B-NP +posted VBD B-VP +for IN B-PP +the DT B-NP +year-ago JJ I-NP +period NN I-NP +. . O + +Storage NNP B-NP +, , O +Louisville NNP B-NP +, , O +Colo. NNP B-NP +, , O +which WDT B-NP +makes VBZ B-VP +data-storage JJ B-NP +devices NNS I-NP +for IN B-PP +mainframe NN B-NP +computers NNS I-NP +, , O +said VBD B-VP +the DT B-NP +huge JJ I-NP +increase NN I-NP +in IN B-PP +net NN B-NP +reflects VBZ B-VP +`` `` O +strong JJ B-NP +sales NNS I-NP +'' '' O +of IN B-PP +its PRP$ B-NP +tape NN I-NP +products NNS I-NP +, , O +particularly RB B-ADVP +the DT B-NP +4400 CD I-NP +Automated NNP I-NP +Cartridge NNP I-NP +System NNP I-NP +, , O +which WDT B-NP +holds VBZ B-VP +a DT B-NP +library NN I-NP +of IN B-PP +tape NN B-NP +cartridges NNS I-NP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +it PRP B-NP +recently RB B-ADVP +sold VBD B-VP +its PRP$ B-NP +750th JJ I-NP +cartridge NN I-NP +system NN I-NP +, , O +which WDT B-NP +cost VBP B-VP +$ $ B-NP +400,000 CD I-NP +to TO I-NP +$ $ I-NP +500,000 CD I-NP +each DT B-ADVP +. . O + +Quarter NN B-NP +revenue NN I-NP +was VBD B-VP +$ $ B-NP +232.6 CD I-NP +million CD I-NP +, , O +up IN B-ADVP +12 CD B-NP +% NN I-NP +from IN B-PP +$ $ B-NP +206 CD I-NP +million CD I-NP +last JJ B-NP +year NN I-NP +. . O + +The DT B-NP +stock NN I-NP +market NN I-NP +reacted VBD B-VP +strongly RB B-ADVP +to TO B-PP +the DT B-NP +news NN I-NP +. . O + +Storage NNP B-NP +rose VBD B-VP +$ $ B-NP +1.125 CD I-NP +a DT B-NP +share NN I-NP +, , O +to TO B-VP +close VB I-VP +at IN B-PP +$ $ B-NP +14 CD I-NP +, , O +in IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +Storage NNP B-NP +had VBD B-VP +net NN B-NP +of IN B-PP +$ $ B-NP +25.5 CD I-NP +million CD I-NP +, , O +or CC O +98 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +including VBG B-PP +an DT B-NP +$ $ I-NP +11.3 CD I-NP +million CD I-NP +extraordinary JJ I-NP +gain NN I-NP +for IN B-PP +the DT B-NP +anticipated VBN I-NP +proceeds NNS I-NP +from IN B-PP +liquidating VBG B-VP +an DT B-NP +Irish JJ I-NP +unit NN I-NP +. . O + +Net NN B-NP +was VBD B-VP +up IN B-ADVP +69 CD B-NP +% NN I-NP +from IN B-PP +$ $ B-NP +15.1 CD I-NP +million CD I-NP +, , O +or CC O +57 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +last JJ B-NP +year NN I-NP +. . O + +Revenue NN B-NP +for IN B-PP +the DT B-NP +latest JJS I-NP +period NN I-NP +was VBD B-VP +up IN B-ADVP +11 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +682.7 CD I-NP +million CD I-NP +, , O +from IN B-PP +$ $ B-NP +614.6 CD I-NP +million CD I-NP +. . O + +A DT B-NP +Canadian JJ I-NP +government NN I-NP +agency NN I-NP +conditionally RB B-VP +approved VBD I-VP +proposed VBN B-NP +exports NNS I-NP +to TO B-PP +the DT B-NP +U.S. NNP I-NP +of IN B-PP +natural JJ B-NP +gas NN I-NP +from IN B-PP +big JJ B-NP +, , I-NP +untapped JJ I-NP +fields NNS I-NP +in IN B-PP +the DT B-NP +Mackenzie NNP I-NP +River NNP I-NP +delta NN I-NP +area NN I-NP +of IN B-PP +the DT B-NP +western JJ I-NP +Canadian NNP I-NP +Arctic NNP I-NP +. . O + +Three CD B-NP +companies NNS I-NP +, , O +Esso NNP B-NP +Resources NNP I-NP +Canada NNP I-NP +Ltd. NNP I-NP +, , O +Shell NNP B-NP +Canada NNP I-NP +Ltd. NNP I-NP +and CC O +Gulf NNP B-NP +Canada NNP I-NP +Resources NNP I-NP +Ltd. NNP I-NP +, , O +applied VBN B-VP +to TO B-PP +the DT B-NP +Canadian NNP I-NP +National NNP I-NP +Energy NNP I-NP +Board NNP I-NP +to TO B-VP +export VB I-VP +9.2 CD B-NP +trillion CD I-NP +cubic JJ I-NP +feet NNS I-NP +of IN B-PP +Mackenzie NNP B-NP +delta NN I-NP +natural JJ I-NP +gas NN I-NP +over IN B-PP +20 CD B-NP +years NNS I-NP +starting VBG B-VP +in IN B-PP +1996 CD B-NP +. . O + +To TO B-VP +be VB I-VP +economically RB B-ADJP +feasible JJ I-ADJP +, , O +the DT O +11 CD O +billion CD O +Canadian JJ O +dollar NN O +-LRB- ( O +US$ $ B-ADJP +9.37 CD O +billion CD O +-RRB- ) O +project NN B-NP +requires VBZ B-VP +almost RB B-NP +a DT I-NP +doubling NN I-NP +of IN B-PP +natural JJ B-NP +gas NN I-NP +export NN I-NP +prices NNS I-NP +. . O + +It PRP B-NP +also RB B-ADVP +faces VBZ B-VP +numerous JJ B-NP +other JJ I-NP +hurdles NNS I-NP +including VBG B-PP +an DT B-NP +agreement NN I-NP +on IN B-PP +a DT B-NP +pipeline NN I-NP +route NN I-NP +for IN B-PP +the DT B-NP +gas NN I-NP +. . O + +The DT B-NP +board NN I-NP +said VBD B-VP +the DT B-NP +export NN I-NP +licenses NNS I-NP +would MD B-VP +be VB I-VP +issued VBN I-VP +on IN B-PP +the DT B-NP +condition NN I-NP +that IN B-SBAR +Canadian JJ B-NP +interests NNS I-NP +would MD B-VP +also RB I-VP +be VB I-VP +allowed VBN I-VP +to TO I-VP +bid VB I-VP +for IN B-PP +the DT B-NP +Mackenzie NNP I-NP +delta NN I-NP +gas NN I-NP +on IN B-PP +terms NNS B-NP +similar JJ B-ADJP +to TO B-PP +those DT B-NP +offered VBN B-VP +to TO B-PP +U.S. NNP B-NP +customers NNS I-NP +. . O + +U.S. NNP B-NP +buyers NNS I-NP +have VBP B-VP +already RB I-VP +been VBN I-VP +lined VBN I-VP +up RB B-PRT +. . O + +They PRP B-NP +include VBP B-VP +Enron NNP B-NP +Corp. NNP I-NP +, , O +Texas NNP B-NP +Eastern NNP I-NP +Corp. NNP I-NP +, , O +Pacific NNP B-NP +Interstate NNP I-NP +Transmission NNP I-NP +Co. NNP I-NP +and CC O +Tennessee NNP B-NP +Gas NNP I-NP +Pipeline NNP I-NP +Co NNP I-NP +. . O + +The DT B-NP +project NN I-NP +could MD B-VP +result VB I-VP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +taking VBG B-VP +more JJR B-NP +than IN I-NP +10 CD I-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +natural JJ I-NP +gas NN I-NP +supplies NNS I-NP +from IN B-PP +Canada NNP B-NP +, , O +up IN B-ADVP +from IN B-PP +about IN B-NP +5 NN I-NP +% NN I-NP +currently RB B-ADVP +. . O + +It PRP B-NP +would MD B-VP +bring VB I-VP +13 CD B-NP +gas NN I-NP +fields NNS I-NP +into IN B-PP +production NN B-NP +at IN B-PP +a DT B-NP +combined VBN I-NP +rate NN I-NP +of IN B-PP +about IN B-NP +1.2 CD I-NP +billion CD I-NP +cubic JJ I-NP +feet NNS I-NP +a DT B-NP +day NN I-NP +. . O + +The DT B-NP +board NN I-NP +estimated VBN B-VP +that IN B-SBAR +the DT B-NP +cost NN I-NP +of IN B-PP +building VBG B-VP +a DT B-NP +pipeline NN I-NP +from IN B-PP +the DT B-NP +Mackenzie NNP I-NP +delta NN I-NP +to TO B-PP +Alberta NNP B-NP +would MD B-VP +be VB I-VP +about IN B-NP +C$ $ I-NP +5.9 CD I-NP +million CD I-NP +. . O + +It PRP B-NP +also RB B-ADVP +said VBD B-VP +projections NNS B-NP +of IN B-PP +surging VBG B-NP +U.S. NNP I-NP +demand NN I-NP +for IN B-PP +natural JJ B-NP +gas NN I-NP +and CC O +price NN B-NP +forecasts NNS I-NP +of IN B-PP +C$ $ B-NP +5.25 CD I-NP +per IN B-PP +thousand CD B-NP +cubic JJ I-NP +feet NNS I-NP +by IN B-PP +2005 CD B-NP +would MD B-VP +make VB I-VP +the DT B-NP +project NN I-NP +economically RB B-ADJP +viable JJ I-ADJP +. . O + +Esso NNP B-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +Imperial NNP B-NP +Oil NNP I-NP +Ltd. NNP I-NP +which WDT B-NP +is VBZ B-VP +71%-owned JJ B-ADJP +by IN B-PP +Exxon NNP B-NP +Corp. NNP I-NP +, , O +will MD B-VP +be VB I-VP +allowed VBN I-VP +to TO I-VP +export VB I-VP +5.1 CD B-NP +trillion CD I-NP +cubic JJ I-NP +feet NNS I-NP +to TO B-PP +the DT B-NP +U.S. NNP I-NP +in IN B-PP +the DT B-NP +20-year JJ I-NP +period NN I-NP +. . O + +Shell NNP B-NP +, , O +a DT B-NP +subsidiary NN I-NP +of IN B-PP +Royal NNP B-NP +Dutch\/Shell NNP I-NP +Group NNP I-NP +, , O +will MD B-VP +be VB I-VP +allowed VBN I-VP +to TO I-VP +export VB I-VP +0.9 CD B-NP +trillion CD I-NP +cubic JJ I-NP +feet NNS I-NP +, , O +and CC O +Gulf NNP B-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +Olympia NNP B-NP +& CC I-NP +York NNP I-NP +Developments NNP I-NP +Ltd. NNP I-NP +will MD B-VP +be VB I-VP +allowed VBN I-VP +to TO I-VP +export VB I-VP +3.2 CD B-NP +trillion CD I-NP +cubic JJ I-NP +feet NNS I-NP +. . O + +Combustion NNP B-NP +Engineering NNP I-NP +Inc. NNP I-NP +, , O +Stamford NNP B-NP +, , O +Conn. NNP B-NP +, , O +said VBD B-VP +it PRP B-NP +sold VBD B-VP +and CC O +agreed VBD B-VP +to TO I-VP +sell VB I-VP +several JJ B-NP +investments NNS I-NP +and CC I-NP +nonstrategic JJ I-NP +businesses NNS I-NP +for IN B-PP +about RB B-NP +$ $ I-NP +100 CD I-NP +million CD I-NP +, , O +which WDT B-NP +will MD B-VP +be VB I-VP +used VBN I-VP +for IN B-PP +reducing VBG B-VP +debt NN B-NP +and CC O +general JJ B-NP +purposes NNS I-NP +. . O + +The DT B-NP +transactions NNS I-NP +are VBP B-VP +unrelated JJ B-ADJP +. . O + +The DT B-NP +company NN I-NP +agreed VBD B-VP +to TO I-VP +sell VB I-VP +its PRP$ B-NP +minority NN I-NP +investments NNS I-NP +in IN B-PP +makers NNS B-NP +of IN B-PP +steam-generating NN B-NP +and CC I-NP +related VBN I-NP +equipment NN I-NP +, , O +Stein NNP B-NP +Industrie NNP I-NP +and CC O +Energie NNP B-NP +& CC I-NP +Verfahrenstechnik NNP I-NP +, , O +to TO B-PP +the DT B-NP +major JJ I-NP +shareholder NN I-NP +in IN B-PP +the DT B-NP +companies NNS I-NP +, , O +Dutch-based JJ B-NP +GEC NNP I-NP +Alsthom NNP I-NP +N.V NNP I-NP +. . O + +Combustion NNP B-NP +Engineering NNP I-NP +, , O +which WDT B-NP +provides VBZ B-VP +engineered VBN B-NP +products NNS I-NP +, , O +systems NNS B-NP +and CC O +services NNS B-NP +for IN B-PP +power NN B-NP +generation NN I-NP +, , O +also RB B-ADVP +sold VBN B-VP +Illinois NNP B-NP +Minerals NNP I-NP +Co. NNP I-NP +, , O +based VBN B-VP +in IN B-PP +Cairo NNP B-NP +, , O +Ill NNP B-NP +. . O + +That DT B-NP +unit NN I-NP +of IN B-PP +its PRP$ B-NP +Georgia NNP I-NP +Kaolin NNP I-NP +Co. NNP I-NP +subsidiary NN I-NP +was VBD B-VP +sold VBN I-VP +to TO B-PP +a DT B-NP +unit NN I-NP +of IN B-PP +Unimin NNP B-NP +Corp NNP I-NP +. . O + +Assets NNS B-NP +of IN B-PP +Construction NNP B-NP +Equipment NNP I-NP +International NNP I-NP +, , O +Houston NNP B-NP +, , O +were VBD B-VP +sold VBN I-VP +to TO B-PP +Essex NNP B-NP +Crane NNP I-NP +Inc. NNP I-NP +, , O +and CC O +the DT B-NP +assets NNS I-NP +of IN B-PP +Elgin NNP B-NP +Electronics NNP I-NP +, , O +Erie NNP B-NP +, , O +Pa. NNP B-NP +, , O +were VBD B-VP +sold VBN I-VP +to TO B-PP +closely RB B-NP +held VBN I-NP +Charter NNP I-NP +Technologies NNP I-NP +Inc NNP I-NP +. . O + +Where WRB B-ADVP +do VBP O +Americans NNPS B-NP +put VB B-VP +their PRP$ B-NP +money NN I-NP +? . O + +It PRP B-NP +depends VBZ B-VP +on IN B-PP +when WRB B-ADVP +you PRP B-NP +look VBP B-VP +. . O + +In IN B-PP +1900 CD B-NP +, , O +for IN B-PP +instance NN B-NP +, , O +less JJR B-NP +than IN I-NP +8 CD I-NP +% NN I-NP +of IN B-PP +assets NNS B-NP +went VBD B-VP +into IN B-PP +bank NN B-NP +deposits NNS I-NP +. . O + +That DT B-NP +rose VBD B-VP +to TO B-PP +nearly RB B-NP +18 CD I-NP +% NN I-NP +during IN B-PP +the DT B-NP +Depression NNP I-NP +, , O +and CC O +has VBZ B-VP +n't RB I-VP +changed VBN I-VP +much JJ B-ADVP +since RB B-ADVP +. . O + +Pension NN B-NP +reserves NNS I-NP +, , O +on IN B-PP +the DT B-NP +other JJ I-NP +hand NN I-NP +, , O +made VBN B-VP +up IN B-PRT +a DT B-NP +relatively RB I-NP +small JJ I-NP +part NN I-NP +of IN B-PP +household NN B-NP +assets NNS I-NP +until IN B-PP +the DT B-NP +last JJ I-NP +decade NN I-NP +, , O +when WRB B-ADVP +they PRP B-NP +skyrocketed VBD B-VP +. . O + +And CC O +there EX B-NP +has VBZ B-VP +been VBN I-VP +a DT B-NP +drastic JJ I-NP +decline NN I-NP +in IN B-PP +the DT B-NP +importance NN I-NP +of IN B-PP +unincorporated JJ B-NP +business NN I-NP +assets NNS I-NP +-- : O +thanks NNS B-NP +to TO B-PP +industry NN B-NP +consolidation NN I-NP +and CC O +a DT B-NP +decline NN I-NP +in IN B-PP +family NN B-NP +farms NNS I-NP +. . O + +That DT B-NP +'s VBZ B-VP +some DT B-NP +of IN B-PP +what WP B-NP +emerges VBZ B-VP +from IN B-PP +the DT B-NP +following VBG I-NP +charts NNS I-NP +, , O +which WDT B-NP +show VBP B-VP +how WRB B-ADVP +Americans NNPS B-NP +have VBP B-VP +changed VBN I-VP +their PRP$ B-NP +investment NN I-NP +patterns NNS I-NP +over IN B-PP +the DT B-NP +past JJ I-NP +90 CD I-NP +years NNS I-NP +. . O + +Some DT B-NP +results NNS I-NP +are VBP B-VP +self-explanatory JJ B-ADJP +. . O + +But CC O +other JJ B-NP +figures NNS I-NP +are VBP B-VP +surprising JJ B-ADJP +. . O + +Housing NNP B-NP +, , O +for IN B-PP +instance NN B-NP +, , O +has VBZ B-VP +remained VBN I-VP +a DT B-NP +fairly RB I-NP +steady JJ I-NP +component NN I-NP +of IN B-PP +household NN B-NP +assets NNS I-NP +over IN B-PP +the DT B-NP +past JJ I-NP +decade NN I-NP +-- : O +although IN B-SBAR +common JJ B-NP +wisdom NN I-NP +would MD B-VP +have VB I-VP +expected VBN I-VP +an DT B-NP +increase NN I-NP +. . O + +`` `` O +There EX B-NP +is VBZ B-VP +a DT B-NP +lot NN I-NP +of IN B-PP +attention NN B-NP +paid VBN B-VP +to TO B-PP +housing NN B-NP +as IN B-PP +a DT B-NP +form NN I-NP +of IN B-PP +household NN B-NP +wealth NN I-NP +, , O +'' '' O +says VBZ B-VP +Edward NNP B-NP +N. NNP I-NP +Wolff NNP I-NP +, , O +professor NN B-NP +of IN B-PP +economics NNS B-NP +at IN B-PP +New NNP B-NP +York NNP I-NP +University NNP I-NP +. . O + +`` `` O +But CC O +it PRP B-NP +has VBZ B-VP +n't RB I-VP +increased VBN I-VP +much JJ B-ADVP +relative JJ B-ADVP +to TO B-PP +other JJ B-NP +assets NNS I-NP +. . O + +It PRP B-NP +suggests VBZ B-VP +that IN B-SBAR +households NNS B-NP +accumulate VBP B-VP +wealth NN B-NP +across IN B-PP +a DT B-NP +broad JJ I-NP +spectrum NN I-NP +of IN B-PP +assets NNS B-NP +. . O + +And CC O +housing NN B-NP +though IN B-SBAR +it PRP B-NP +appears VBZ B-VP +in IN B-PP +the DT B-NP +popular JJ I-NP +mind NN I-NP +as IN B-PP +being VBG B-VP +the DT B-NP +major JJ I-NP +-LCB- ( O +growing VBG O +-RCB- ) O +household NN B-NP +asset NN I-NP +, , O +is VBZ B-VP +n't RB O +. . O +'' '' O + +In IN B-PP +addition NN B-NP +, , O +investors NNS B-NP +' POS B-NP +desire NN I-NP +to TO B-VP +hold VB I-VP +stocks NNS B-NP +-- : O +directly RB B-ADVP +and CC O +through IN B-PP +mutual JJ B-NP +funds NNS I-NP +-- : O +has VBZ B-VP +held VBN I-VP +surprisingly RB B-ADJP +steady JJ I-ADJP +; : O +stocks NNS B-NP +' POS B-NP +importance NN I-NP +among IN B-PP +assets NNS B-NP +largely RB B-VP +reflects VBZ I-VP +the DT B-NP +ups NNS I-NP +and CC I-NP +downs NNS I-NP +of IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +, , B-NP +and CC I-NP +not RB I-NP +a DT B-NP +shift NN I-NP +in IN B-PP +stock-holding JJ B-NP +preferences NNS I-NP +. . O + +`` `` O +Stocks NNS B-NP +have VBP B-VP +not RB I-VP +spread VB I-VP +to TO B-PP +the DT B-NP +general JJ I-NP +public NN I-NP +, , O +despite IN B-PP +the DT B-NP +fact NN I-NP +that IN B-SBAR +the DT B-NP +environment NN I-NP +is VBZ B-VP +much JJ B-ADJP +different JJ I-ADJP +, , O +'' '' O +concludes VBZ B-VP +Robert NNP B-NP +Avery NNP I-NP +, , O +an DT B-NP +economist NN I-NP +at IN B-PP +Cornell NNP B-NP +University NNP I-NP +. . O + +`` `` O +To TO B-PP +me PRP B-NP +it PRP B-NP +says VBZ B-VP +that IN B-SBAR +despite IN B-PP +all PDT B-NP +the DT I-NP +views NNS I-NP +that IN B-SBAR +we PRP B-NP +spend VBP B-VP +too RB B-NP +much NN I-NP +of IN B-PP +our PRP$ B-NP +wealth NN I-NP +on IN B-PP +paper NN B-NP +assets NNS I-NP +, , O +we PRP B-NP +have VBP B-VP +ways NNS B-NP +of IN B-PP +holding VBG B-VP +wealth NN B-NP +similar JJ B-ADJP +to TO B-PP +100 CD B-NP +years NNS I-NP +ago RB B-ADVP +. . O +'' '' O + +-- : O +The DT B-NP +charts NNS I-NP +show VBP B-VP +how WRB B-ADVP +househld JJ B-NP +assets NNS I-NP +have VBP B-VP +been VBN I-VP +distributed VBN I-VP +over IN B-PP +time NN B-NP +. . O + +The DT B-NP +main JJ I-NP +components NNS I-NP +of IN B-PP +the DT B-NP +various JJ I-NP +asseet NN I-NP +categories NNS I-NP +: : O +Housing NNP B-NP +: : O +Primary JJ B-NP +home NN I-NP +, , B-NP +but CC I-NP +not RB I-NP +the DT B-NP +land NN I-NP +it PRP B-NP +'s VBZ B-VP +on RB B-PP +. . O + +Land NNP B-NP +and CC O +Other JJ B-NP +Real NNP I-NP +Estate NNP I-NP +: : O +Land NNP B-NP +on IN B-PP +which WDT B-NP +primary JJ B-NP +home NN I-NP +is VBZ B-VP +built VBN I-VP +, , O +investment NN B-NP +property NN I-NP +. . O + +Consumer NNP B-NP +Durables NNPS I-NP +: : O +Automobiles NNS B-NP +, , I-NP +appliances NNS I-NP +, , I-NP +furniture NN I-NP +. . O + +Bank NN B-NP +Deposits NNS I-NP +: : O +Currency NN B-NP +, , O +checking-account JJ B-NP +deposits NNS I-NP +, , O +small JJ B-NP +savings NNS I-NP +and CC I-NP +time NN I-NP +deposits NNS I-NP +, , O +certificates NNS B-NP +of IN B-PP +deposits NNS B-NP +, , O +money-market JJ B-NP +fund NN I-NP +shares NNS I-NP +. . O + +Bonds NNS B-NP +: : O +Excludes VBZ B-VP +bond NN B-NP +funds NNS I-NP +. . O + +Stocks\/Mutual NNP B-NP +Funds NNS I-NP +: : O +Stocks NNS B-NP +and CC O +mutual JJ B-NP +funds NNS I-NP +other JJ B-ADJP +than IN B-PP +money-market JJ B-NP +funds NNS I-NP +. . O + +Unincorporated NNP B-NP +Business NNP I-NP +: : O +Partnerships NNS B-NP +and CC O +sole JJ B-NP +proprietorships NNS I-NP +, , O +professional JJ B-NP +corporations NNS I-NP +. . O + +Pension NN B-NP +Reserves NNS I-NP +: : O +Holdings NNP B-NP +by IN B-PP +pension NN B-NP +funds NNS I-NP +. . O + +McCaw NNP B-NP +Cellular NNP I-NP +Communications NNP I-NP +Inc. NNP I-NP +said VBD B-VP +it PRP B-NP +sent VBD B-VP +a DT B-NP +letter NN I-NP +to TO B-PP +LIN NNP B-NP +Broadcasting NNP I-NP +Corp. NNP I-NP +clarifying VBG B-VP +its PRP$ B-NP +revised VBN I-NP +tender NN I-NP +offer NN I-NP +for IN B-PP +LIN NNP B-NP +and CC O +asking VBG B-VP +LIN NNP B-NP +to TO B-VP +conduct VB I-VP +`` `` O +a DT B-NP +fair JJ I-NP +auction NN I-NP +. . O +'' '' O + +The DT B-NP +letter NN I-NP +apparently RB B-ADVP +came VBD B-VP +in IN B-PP +response NN B-NP +to TO B-PP +a DT B-NP +request NN I-NP +for IN B-PP +clarification NN B-NP +by IN B-PP +LIN NNP B-NP +earlier RBR B-NP +this DT I-NP +week NN I-NP +. . O + +LIN NNP B-NP +, , O +which WDT B-NP +has VBZ B-VP +agreed VBN I-VP +with IN B-PP +BellSouth NNP B-NP +Corp. NNP I-NP +to TO B-VP +merge VB I-VP +their PRP$ B-NP +cellular-telephone JJ I-NP +businesses NNS I-NP +, , O +said VBD B-VP +then RB B-ADVP +that IN B-SBAR +it PRP B-NP +would MD B-VP +n't RB I-VP +take VB I-VP +a DT B-NP +position NN I-NP +on IN B-PP +McCaw NNP B-NP +'s POS B-NP +revised VBN I-NP +tender NN I-NP +offer NN I-NP +. . O + +Earlier RBR B-NP +this DT I-NP +month NN I-NP +, , O +McCaw NNP B-NP +revised VBD B-VP +its PRP$ B-NP +offer NN I-NP +to TO B-PP +$ $ B-NP +125 CD I-NP +a DT B-NP +share NN I-NP +for IN B-PP +22 CD B-NP +million CD I-NP +LIN NNP I-NP +shares NNS I-NP +. . O + +McCaw NNP B-NP +is VBZ B-VP +seeking VBG I-VP +50.3 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +cellular JJ I-NP +and CC I-NP +broadcasting NN I-NP +concern NN I-NP +; : O +the DT B-NP +revised VBN I-NP +offer NN I-NP +includes VBZ B-VP +a DT B-NP +feature NN I-NP +requiring VBG B-VP +McCaw NNP B-NP +to TO B-VP +begin VB I-VP +an DT B-NP +auction NN I-NP +process NN I-NP +in IN B-PP +July NNP B-NP +1994 CD I-NP +that WDT B-NP +would MD B-VP +buy VB I-VP +out RP B-PRT +remaining VBG B-NP +holders NNS I-NP +at IN B-PP +a DT B-NP +per-share JJ I-NP +price NN I-NP +roughly RB B-ADJP +equivalent NN I-ADJP +to TO B-PP +what WP B-NP +a DT B-NP +third JJ I-NP +party NN I-NP +might MD B-VP +then RB I-VP +have VB I-VP +to TO I-VP +pay VB I-VP +for IN B-PP +all DT B-NP +of IN B-PP +LIN NNP B-NP +. . O + +The DT B-NP +letter NN I-NP +outlines VBZ B-VP +broad JJ B-NP +powers NNS I-NP +for IN B-PP +an DT B-NP +independent JJ I-NP +group NN I-NP +of IN B-PP +directors NNS B-NP +provided VBN B-VP +for IN B-PRT +in IN B-PP +the DT B-NP +revised VBN I-NP +offer NN I-NP +. . O + +In IN B-PP +a DT B-NP +statement NN I-NP +, , O +Craig NNP B-NP +O. NNP I-NP +McCaw NNP I-NP +, , O +chairman NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +McCaw NNP B-NP +, , O +said VBD B-VP +: : O +`` `` O +We PRP B-NP +trust VBP B-VP +LIN NNP B-NP +will MD B-VP +take VB I-VP +no DT B-NP +further JJ I-NP +actions NNS I-NP +that WDT B-NP +favor VBP B-VP +BellSouth NNP B-NP +. . O +'' '' O + +McCaw NNP B-NP +said VBD B-VP +the DT B-NP +three CD I-NP +independent JJ I-NP +directors NNS I-NP +provided VBN B-VP +for IN B-PRT +in IN B-PP +the DT B-NP +offer NN I-NP +would MD B-VP +be VB I-VP +designated VBN I-VP +by IN B-PP +the DT B-NP +current JJ I-NP +board NN I-NP +. . O + +The DT B-NP +successors NNS I-NP +would MD B-VP +be VB I-VP +nominated VBN I-VP +by IN B-PP +the DT B-NP +independent JJ I-NP +directors NNS I-NP +. . O + +LIN NNP B-NP +would MD B-VP +have VB I-VP +a DT B-NP +priority NN I-NP +right NN I-NP +to TO B-VP +pursue VB I-VP +all DT B-NP +opportunities NNS I-NP +to TO B-VP +acquire VB I-VP +U.S. NNP B-NP +cellular JJ I-NP +interests NNS I-NP +in IN B-PP +markets NNS B-NP +other JJ B-ADJP +than IN B-PP +those DT B-NP +in NN B-PP +which WDT B-NP +McCaw NNP B-NP +holds VBZ B-VP +an DT B-NP +interest NN I-NP +, , O +or CC O +which WDT B-NP +are VBP B-VP +contiguous JJ B-ADJP +to TO B-PP +those DT B-NP +markets NNS I-NP +, , O +unless IN B-SBAR +LIN NNP B-NP +has VBZ B-VP +an DT B-NP +interest NN I-NP +there EX B-ADVP +or CC O +contiguous JJ B-ADJP +to TO B-PP +it PRP B-NP +. . O + +Independent JJ B-NP +directors NNS I-NP +would MD B-VP +have VB I-VP +veto NN B-NP +rights NNS I-NP +to TO B-PP +any DT B-NP +acquisition NN I-NP +if IN B-SBAR +they PRP B-NP +unanimously RB B-VP +decide VBP I-VP +it PRP B-NP +is VBZ B-VP +n't RB O +in IN B-PP +LIN NNP B-NP +'s POS B-NP +best JJS I-NP +interest NN I-NP +. . O + +Independent JJ B-NP +directors NNS I-NP +would MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +block VB I-VP +transactions NNS B-NP +they PRP B-NP +unanimously RB B-VP +deem VBP I-VP +would MD B-VP +be VB I-VP +likely JJ B-ADJP +to TO B-VP +depress VB I-VP +the DT B-NP +private JJ I-NP +market NN I-NP +value NN I-NP +of IN B-PP +LIN NNP B-NP +at IN B-PP +the DT B-NP +time NN I-NP +it PRP B-NP +is VBZ B-VP +to TO B-VP +be VB I-VP +sold VBN I-VP +in IN B-PP +five CD B-NP +years NNS I-NP +. . O + +If IN B-SBAR +LIN NNP B-NP +is VBZ B-VP +put VBN I-VP +up IN B-PRT +for IN B-PP +sale NN B-NP +rather RB B-CONJP +than IN I-CONJP +purchased VBN B-VP +by IN B-PP +McCaw NNP B-NP +in IN B-PP +five CD B-NP +years NNS I-NP +, , O +McCaw NNP B-NP +wo MD B-VP +n't RB I-VP +submit VB I-VP +a DT B-NP +bid NN I-NP +unless IN B-SBAR +the DT B-NP +independent JJ I-NP +directors NNS I-NP +request VBP B-VP +it PRP B-NP +, , O +and CC O +the DT B-NP +independent JJ I-NP +directors NNS I-NP +will MD B-VP +run VB I-VP +the DT B-NP +bidding NN I-NP +. . O + +The DT B-NP +directors NNS I-NP +would MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +sell VB I-VP +particular JJ B-NP +assets NNS I-NP +to TO B-VP +enable VB I-VP +such JJ B-NP +buyers NNS I-NP +as IN B-PP +the DT B-NP +regional JJ I-NP +Bell NNP I-NP +operating VBG I-NP +companies NNS I-NP +to TO B-VP +purchase VB I-VP +the DT B-NP +company NN I-NP +'s POS B-NP +interests NNS I-NP +. . O + +MCA NNP B-NP +Inc. NNP I-NP +said VBD B-VP +third-quarter JJ B-NP +net NN I-NP +fell VBD B-VP +6.3 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +50.8 CD I-NP +million CD I-NP +, , O +or CC O +69 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +54.3 CD I-NP +million CD I-NP +, , O +or CC O +74 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +MCA NNP B-NP +said VBD B-VP +revenue NN B-NP +rose VBD B-VP +14 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +918.4 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +806.7 CD I-NP +million CD I-NP +. . O + +The DT B-NP +entertainment NN I-NP +concern NN I-NP +said VBD B-VP +the DT B-NP +success NN I-NP +of IN B-PP +several JJ B-NP +movies NNS I-NP +released VBN B-VP +during IN B-PP +the DT B-NP +quarter NN I-NP +, , O +including VBG B-PP +`` `` O +Parenthood NNP B-NP +'' '' O +and CC O +`` `` O +Uncle NNP B-NP +Buck NNP I-NP +, , O +'' '' O +contributed VBD B-VP +to TO B-PP +record VB B-NP +revenue NN I-NP +for IN B-PP +its PRP$ B-NP +film NN I-NP +unit NN I-NP +. . O + +Both DT O +MCA NNP B-NP +'s POS B-NP +music-entertainment NN I-NP +and CC I-NP +book-publishing NN I-NP +units NNS I-NP +also RB B-ADVP +posted VBD B-VP +record NN B-NP +revenue NN I-NP +and CC I-NP +operating VBG I-NP +profit NN I-NP +. . O + +The DT B-NP +parent NN I-NP +company NN I-NP +'s POS B-NP +net NN I-NP +included VBD B-VP +a DT B-NP +loss NN I-NP +-- : O +which WDT B-NP +it PRP B-NP +did VBD B-VP +n't RB I-VP +specify VB I-VP +-- : O +that WDT B-NP +was VBD B-VP +related VBN B-ADJP +to TO B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +50 CD B-ADJP +% NN I-ADJP +stake NN B-NP +in IN B-PP +Cineplex NNP B-NP +Odeon NNP I-NP +Corp NNP I-NP +. . O + +Cineplex NNP B-NP +, , O +a DT B-NP +Toronto NNP I-NP +theater NN I-NP +chain NN I-NP +, , O +had VBD B-VP +a DT B-NP +second-quarter JJ I-NP +net JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +38.7 CD I-NP +million CD I-NP +. . O + +MCA NNP B-NP +said VBD B-VP +net JJ B-NP +also RB B-ADVP +included VBD B-VP +certain JJ B-NP +reserves NNS I-NP +related VBN B-ADJP +to TO B-PP +the DT B-NP +restructuring NN I-NP +of IN B-PP +its PRP$ B-NP +LJN NNP I-NP +Toys NNPS I-NP +' POS B-NP +international JJ I-NP +operations NNS I-NP +. . O + +These DT B-NP +items NNS I-NP +were VBD B-VP +partly RB I-VP +offset VB I-VP +, , O +MCA NNP B-NP +said VBD B-VP +, , O +by IN B-PP +an DT B-NP +unspecified JJ I-NP +gain NN I-NP +on IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +its PRP$ B-NP +Miller NNP I-NP +International NNP I-NP +unit NN I-NP +, , O +a DT B-NP +maker NN I-NP +and CC I-NP +distributor NN I-NP +of IN B-PP +budget-priced JJ B-NP +audio JJ I-NP +cassettes NNS I-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +, , O +MCA NNP B-NP +rose VBD B-VP +$ $ B-NP +1.50 CD I-NP +to TO B-PP +$ $ B-NP +64 CD I-NP +. . O + +In IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +net NN B-NP +rose VBD B-VP +35 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +120.1 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.64 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +89.2 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.22 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Revenue NN B-NP +increased VBN B-VP +22 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +2.5 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +2.1 CD I-NP +billion CD I-NP +. . O + +Past JJ B-NP +Due NNP I-NP +Impasse NNP I-NP + +I PRP B-NP +never RB B-ADVP +pay VBP B-VP +my PRP$ B-NP +bills NNS I-NP +Till IN B-PP +the DT B-NP +very RB I-NP +last JJ I-NP +day NN I-NP +; : O +I PRP B-NP +lose VBP B-VP +far RB B-NP +less JJR I-NP +interest NN I-NP +By IN B-PP +proceeding VBG B-VP +that DT B-NP +way NN I-NP +. . O + +But CC O +it PRP B-NP +all DT B-NP +evens VBZ B-VP +out IN B-PRT +, , O +It PRP B-NP +'s VBZ B-VP +so RB B-ADJP +easy JJ I-ADJP +to TO B-VP +see VB I-VP +: : O +Not RB B-PP +till IN I-PP +the DT B-NP +last JJ I-NP +moment NN I-NP +Am NNP O +I PRP B-NP +paid VBD B-VP +what WP B-NP +'s VBZ B-VP +due JJ B-ADJP +me PRP B-NP +. . O + +-- : B-NP +Arnold NNP I-NP +J. NNP I-NP +Zarett NNP I-NP +. . O + +Rex NNP B-NP +Tremendae NNP I-NP + +The DT B-NP +effete JJ I-NP +Tyrannosaurus NNP I-NP +Rex NNP I-NP +Had VBD B-VP +strict JJ B-NP +Cretaceous NNP I-NP +views NNS I-NP +on IN B-PP +sex NN B-NP +, , O +And CC O +that DT B-NP +is VBZ B-VP +why WRB B-ADVP +you PRP B-NP +only RB B-ADVP +see VBP B-VP +him PRP B-NP +Reproduced VBN B-VP +in IN B-PP +the DT B-NP +museum NN I-NP +. . O + +-- : B-NP +Laurence NNP I-NP +W. NNP I-NP +Thomas NNP I-NP +. . O + +Helmsley NNP B-NP +Enterprises NNPS I-NP +Inc. NNP I-NP +plans VBZ B-VP +to TO I-VP +close VB I-VP +its PRP$ B-NP +company-owned JJ I-NP +insurance NN I-NP +business NN I-NP +and CC O +is VBZ B-VP +seeking VBG I-VP +other JJ B-NP +brokers NNS I-NP +to TO B-VP +take VB I-VP +over IN B-PRT +its PRP$ B-NP +policies NNS I-NP +, , O +according VBG B-PP +to TO B-PP +individuals NNS B-NP +familiar JJ B-ADJP +with IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +firm NN I-NP +. . O + +Helmsley NNP B-NP +Enterprises NNPS I-NP +is VBZ B-VP +the DT B-NP +umbrella NN I-NP +organization NN I-NP +for IN B-PP +companies NNS B-NP +controlled VBN B-VP +by IN B-PP +Harry NNP B-NP +B. NNP I-NP +Helmsley NNP I-NP +. . O + +These DT B-NP +include VBP B-VP +office NN B-NP +and CC I-NP +residential JJ I-NP +real JJ I-NP +estate NN I-NP +giant NN I-NP +, , O +HelmsleySpear NNP B-NP +Inc. NNP I-NP +, , O +and CC O +Helmsley NNP B-NP +Hotels NNP I-NP +. . O + +The DT B-NP +insurance NN I-NP +brokerage NN I-NP +agency NN I-NP +, , O +just RB B-NP +a DT I-NP +fragment NN I-NP +of IN B-PP +Helmsley NNP B-NP +'s POS B-NP +vast JJ I-NP +empire NN I-NP +, , O +would MD B-VP +be VB I-VP +the DT B-NP +first JJ I-NP +piece NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +to TO B-VP +be VB I-VP +stripped VBN I-VP +away RB B-ADVP +since IN B-PP +last JJ B-NP +summer NN I-NP +when WRB B-ADVP +Mr. NNP B-NP +Helmsley NNP I-NP +'s POS B-NP +wife NN I-NP +, , O +Leona NNP B-NP +Helmsley NNP I-NP +, , O +was VBD B-VP +found VBN I-VP +guilty JJ B-ADJP +of IN B-PP +tax NN B-NP +evasion NN I-NP +. . O + +Industry NN B-NP +sources NNS I-NP +estimate VBP B-VP +the DT B-NP +agency NN I-NP +brokers NNS B-VP +property NN B-NP +and CC I-NP +casualty NN I-NP +premiums NNS I-NP +worth JJ B-ADJP +about RB B-NP +$ $ I-NP +25 CD I-NP +million CD I-NP +annually RB B-ADVP +, , O +and CC O +has VBZ B-VP +revenue NN B-NP +, , O +based VBN B-PP +on IN B-PP +a DT B-NP +standard JJ I-NP +10 CD I-NP +% NN I-NP +commission NN I-NP +rate NN I-NP +, , O +of IN B-PP +about RB B-NP +$ $ I-NP +2.5 CD I-NP +million CD I-NP +. . O + +The DT B-NP +insurance NN I-NP +firm NN I-NP +acts NNS B-VP +as IN B-PP +a DT B-NP +broker NN I-NP +on IN B-PP +policies NNS B-NP +covering VBG B-VP +buildings NNS B-NP +managed VBN B-VP +by IN B-PP +HelmsleySpear NNP B-NP +and CC I-NP +others NNS I-NP +. . O + +Many JJ B-NP +of IN B-PP +the DT B-NP +properties NNS I-NP +are VBP B-VP +owned VBN I-VP +through IN B-PP +limited JJ B-NP +partnerships NNS I-NP +controlled VBN B-VP +by IN B-PP +Mr. NNP B-NP +Helmsley NNP I-NP +. . O + +New NNP B-NP +York NNP I-NP +State NNP I-NP +law NN I-NP +prohibits VBZ B-VP +insurance NN B-NP +brokerages NNS I-NP +from IN B-PP +deriving VBG B-VP +more JJR B-NP +than IN I-NP +10 CD I-NP +% NN I-NP +of IN B-PP +revenue NN B-NP +from IN B-PP +insuring VBG B-VP +affiliated VBN B-NP +companies NNS I-NP +. . O + +Helmsley NNP B-NP +'s POS B-NP +insurance NN I-NP +division NN I-NP +had VBD B-VP +slightly RB I-VP +exceeded VBN I-VP +that DT B-NP +percentage NN I-NP +, , O +sources NNS B-NP +say VBP B-VP +, , O +but CC O +the DT B-NP +division NN I-NP +was VBD B-VP +n't RB I-VP +considered VBN I-VP +significant JJ B-ADJP +enough RB I-ADJP +to TO B-PP +the DT B-NP +company NN I-NP +to TO B-VP +be VB I-VP +restructured VBN I-VP +, , O +particularly RB B-PP +at IN I-PP +a DT B-NP +difficult JJ I-NP +time NN I-NP +for IN B-PP +the DT B-NP +firm NN I-NP +. . O + +Adverse JJ B-NP +publicity NN I-NP +from IN B-PP +the DT B-NP +scandal NN I-NP +surrounding VBG B-VP +its PRP$ B-NP +founder NN I-NP +'s POS B-NP +wife NN I-NP +and CC O +related VBN B-NP +management NN I-NP +strife NN I-NP +have VBP B-VP +put VBN I-VP +pressure NN B-NP +on IN B-PP +the DT B-NP +entire JJ I-NP +Helmsley NNP I-NP +organization NN I-NP +. . O + +However RB B-ADVP +, , O +individuals NNS B-NP +close VBP B-ADJP +to TO B-PP +the DT B-NP +company NN I-NP +insist VBP B-VP +shuttering VBG B-VP +the DT B-NP +insurance NN I-NP +division NN I-NP +, , O +a DT B-NP +sideline NN I-NP +from IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +core NN I-NP +property NN I-NP +management NN I-NP +business NN I-NP +, , O +is VBZ B-VP +n't RB O +the DT B-NP +beginning NN I-NP +of IN B-PP +a DT B-NP +sale NN I-NP +of IN B-PP +assets NNS B-NP +. . O + +Helmsley NNP B-NP +'s POS B-NP +insurance NN I-NP +premiums NNS I-NP +are VBP B-VP +expected VBN I-VP +to TO I-VP +be VB I-VP +transferred VBN I-VP +to TO B-PP +several JJ B-NP +different JJ I-NP +insurance NN I-NP +brokerage NN I-NP +companies NNS I-NP +. . O + +Frank NNP B-NP +B. NNP I-NP +Hall NNP I-NP +Inc. NNP I-NP +of IN B-PP +Briarcliff NNP B-NP +Manor NNP I-NP +, , O +N.Y. NNP B-NP +is VBZ B-VP +reportedly RB I-VP +working VBG I-VP +out RP B-PRT +an DT B-NP +agreement NN I-NP +with IN B-PP +Helmsley NNP B-NP +. . O + +Officials NNS B-NP +there EX B-ADVP +declined VBD B-VP +to TO I-VP +comment VB I-VP +, , O +as IN B-SBAR +did VBD O +Helmsley NNP B-NP +management NN I-NP +. . O + +Outside IN B-PP +the DT B-NP +white-walled JJ I-NP +headquarters NN I-NP +of IN B-PP +the DT B-NP +socalled JJ I-NP +Society NNP I-NP +of IN B-PP +Orange NNP B-NP +Workers NNPS I-NP +, , O +all DT B-NP +seems VBZ B-VP +normal JJ B-ADJP +in IN B-PP +South NNP B-NP +Africa NNP I-NP +'s POS B-NP +abnormal JJ I-NP +society NN I-NP +. . O + +A DT B-NP +pickup NN I-NP +truck NN I-NP +driven VBN B-VP +by IN B-PP +a DT B-NP +white JJ I-NP +farmer NN I-NP +rumbles VBZ B-VP +past JJ B-ADVP +with IN B-PP +a DT B-NP +load NN I-NP +of IN B-PP +black JJ B-NP +workers NNS I-NP +bouncing VBG B-VP +in IN B-PP +the DT B-NP +back RB I-NP +. . O + +Over IN B-PP +at IN B-PP +Conradies NNP B-NP +, , O +the DT B-NP +general JJ I-NP +store NN I-NP +, , O +a DT B-NP +black JJ I-NP +stock NN I-NP +boy NN I-NP +scurries NNS B-VP +to TO I-VP +help VB I-VP +an DT B-NP +elderly JJ I-NP +white JJ I-NP +woman NN I-NP +with IN B-PP +her PRP$ B-NP +packages NNS I-NP +. . O + +Down IN B-PP +the DT B-NP +street NN I-NP +, , O +a DT B-NP +car NN I-NP +pulls VBZ B-VP +into IN B-PP +the DT B-NP +Shell NNP I-NP +station NN I-NP +and CC O +is VBZ B-VP +surrounded VBN I-VP +by IN B-PP +black JJ B-NP +attendants NNS I-NP +. . O + +But CC O +inside IN B-PP +the DT B-NP +white JJ I-NP +walls NNS I-NP +of IN B-PP +the DT B-NP +Orange NNP I-NP +Workers NNPS I-NP +' POS B-NP +office NN I-NP +-- : O +just RB B-NP +about IN I-NP +the DT I-NP +largest JJS I-NP +building NN I-NP +in IN B-PP +town NN B-NP +, , O +save VB B-PP +for IN B-PP +the DT B-NP +Dutch NNP I-NP +Reformed NNP I-NP +Church NNP I-NP +and CC O +the DT B-NP +school NN I-NP +-- : O +South NNP B-NP +Africa NNP I-NP +'s POS B-NP +neat JJ I-NP +racial JJ I-NP +order NN I-NP +is VBZ B-VP +awry RB B-ADJP +. . O + +A DT B-NP +dozen NN I-NP +white JJ I-NP +office NN I-NP +workers NNS I-NP +fold VBP B-VP +newsletters NNS B-NP +and CC O +stuff NN B-VP +them PRP B-NP +into IN B-PP +envelopes NNS B-NP +. . O + +White JJ B-NP +women NNS I-NP +serve VBP B-VP +tea NN B-NP +and CC I-NP +coffee NN I-NP +, , O +and CC O +then JJ O +wash NN B-VP +the DT B-NP +cups NNS I-NP +and CC I-NP +saucers NNS I-NP +afterwards RB B-ADVP +. . O + +White JJ B-NP +children NNS I-NP +empty VB B-VP +the DT B-NP +wastepaper NN I-NP +baskets NNS I-NP +and CC O +squeegee VBP B-VP +the DT B-NP +windows NNS I-NP +. . O + +There EX B-NP +is VBZ B-VP +n't RB O +a DT B-NP +black JJ I-NP +worker NN I-NP +in IN B-PP +sight NN B-NP +. . O + +Not RB O +in IN B-PP +the DT B-NP +kitchen NN I-NP +, , O +or CC O +the DT B-NP +storeroom NN I-NP +or CC O +the DT B-NP +book NN I-NP +shop NN I-NP +. . O + +`` `` O +If IN B-SBAR +we PRP B-NP +want VBP B-VP +to TO I-VP +have VB I-VP +our PRP$ B-NP +own JJ I-NP +nation NN I-NP +, , O +then RB B-ADVP +we PRP B-NP +must MD B-VP +be VB I-VP +willing JJ B-ADJP +to TO B-VP +do VB I-VP +all PDT B-NP +the DT I-NP +work NN I-NP +ourselves PRP B-NP +, , O +'' '' O +says VBZ B-VP +Hendrik NNP B-NP +Verwoerd NNP I-NP +Jr. NNP I-NP +, , O +son NN B-NP +of IN B-PP +the DT B-NP +former JJ I-NP +prime JJ I-NP +minister NN I-NP +and CC O +the DT B-NP +leader NN I-NP +of IN B-PP +the DT B-NP +Orange NNP I-NP +Workers NNPS I-NP +, , O +founded VBN B-VP +in IN B-PP +1980 CD B-NP +. . O + +They PRP B-NP +do VBP B-VP +indeed RB I-VP +want VB I-VP +their PRP$ B-NP +own JJ I-NP +nation NN I-NP +. . O + +The DT B-NP +pillars NNS I-NP +of IN B-PP +apartheid NN B-NP +may MD B-VP +be VB I-VP +trembling VBG I-VP +in IN B-PP +the DT B-NP +rest NN I-NP +of IN B-PP +South NNP B-NP +Africa NNP I-NP +, , O +with IN B-PP +Johannesburg NNP B-NP +opening VBG B-VP +its PRP$ B-NP +public JJ I-NP +facilities NNS I-NP +to TO B-PP +all DT B-NP +races NNS I-NP +, , O +blacks NNS B-NP +storming VBG B-VP +the DT B-NP +all-white JJ I-NP +beaches NNS I-NP +of IN B-PP +the DT B-NP +Cape NNP I-NP +and CC O +the DT B-NP +government NN I-NP +releasing VBG B-VP +seven CD B-NP +leaders NNS I-NP +of IN B-PP +the DT B-NP +banned VBN I-NP +African NNP I-NP +National NNP I-NP +Congress NNP I-NP +. . O + +But CC O +here RB B-ADVP +in IN B-PP +Morgenzon NNP B-NP +, , O +a DT B-NP +sleepy JJ I-NP +town NN I-NP +amid IN B-PP +the DT B-NP +corn NN I-NP +fields NNS I-NP +of IN B-PP +the DT B-NP +eastern JJ I-NP +Transvaal NNP I-NP +, , O +the DT B-NP +Orange NNP I-NP +Workers NNPS I-NP +are VBP B-VP +holding VBG I-VP +the DT B-NP +pillars NNS I-NP +steady JJ B-ADJP +. . O + +The DT B-NP +Orange NNP I-NP +Workers NNPS I-NP +-- : O +who WP B-NP +take VBP B-VP +their PRP$ B-NP +name NN I-NP +from IN B-PP +William NNP B-NP +of IN B-PP +Orange NNP B-NP +of IN B-PP +the DT B-NP +Netherlands NNP I-NP +, , O +a DT B-NP +hero NN I-NP +of IN B-PP +the DT B-NP +Dutch-descended JJ I-NP +Afrikaners NNPS I-NP +-- : O +believe VBP B-VP +that IN B-SBAR +the DT B-NP +solution NN I-NP +to TO B-PP +South NNP B-NP +Africa NNP I-NP +'s POS B-NP +racial JJ I-NP +problems NNS I-NP +is VBZ B-VP +n't RB O +the DT B-NP +abolition NN I-NP +of IN B-PP +apartheid NN B-NP +, , O +it PRP B-NP +'s VBZ B-VP +the DT B-NP +perfection NN I-NP +of IN B-PP +apartheid NN B-NP +-- : O +complete JJ B-NP +and CC I-NP +total JJ I-NP +separation NN I-NP +of IN B-PP +the DT B-NP +races NNS I-NP +. . O + +Here RB B-ADVP +, , O +then RB B-ADVP +, , O +is VBZ B-VP +where WRB B-ADVP +the DT B-NP +Orange NNP I-NP +Workers NNPS I-NP +have VBP B-VP +come VBN I-VP +to TO B-VP +make VB I-VP +apartheid NN B-NP +'s POS B-NP +last JJ I-NP +stand NN I-NP +. . O + +Their PRP$ B-NP +idea NN I-NP +is VBZ B-VP +to TO B-VP +create VB I-VP +a DT B-NP +city NN I-NP +, , O +first JJ B-ADVP +, , O +and CC O +then RB O +an DT B-NP +entire JJ I-NP +nation NN I-NP +-- : O +without IN B-PP +blacks NNS B-NP +. . O + +This DT B-NP +may MD B-VP +seem VB I-VP +to TO I-VP +be VB I-VP +a DT B-NP +preposterous JJ I-NP +and CC I-NP +utterly RB I-NP +futile JJ I-NP +effort NN I-NP +in IN B-PP +Africa NNP B-NP +. . O + +And CC O +the DT B-NP +fact NN I-NP +that IN B-SBAR +there EX B-NP +are VBP B-VP +only RB B-NP +3,000 CD I-NP +card-carrying JJ I-NP +Orange NNP I-NP +Workers NNPS I-NP +may MD B-VP +put VB I-VP +them PRP B-NP +on IN B-PP +the DT B-NP +loony JJ I-NP +fringe NN I-NP +. . O + +But CC O +their PRP$ B-NP +ideal NN I-NP +of IN B-PP +an DT B-NP +Afrikaner JJ I-NP +homeland NN I-NP +, , O +an DT B-NP +all-white JJ I-NP +reserve NN I-NP +to TO B-VP +be VB I-VP +carved VBN I-VP +out IN B-ADVP +of IN B-PP +present-day JJ B-NP +South NNP I-NP +Africa NNP I-NP +, , O +is VBZ B-VP +a DT B-NP +mainstream NN I-NP +desire NN I-NP +of IN B-PP +the DT B-NP +right-wing NN I-NP +, , O +which WDT B-NP +embraces VBZ B-VP +about IN B-NP +one-third NN I-NP +of IN B-PP +the DT B-NP +country NN I-NP +'s POS B-NP +five CD I-NP +million CD I-NP +whites NNS I-NP +. . O + +Afrikaner JJ B-NP +philosophers NNS I-NP +and CC I-NP +theologians NNS I-NP +have VBP B-VP +long RB I-VP +ruminated VBN I-VP +on IN B-PP +the DT B-NP +need NN I-NP +for IN B-PP +a DT B-NP +white JJ I-NP +homeland NN I-NP +. . O + +The DT B-NP +Orange NNP I-NP +Workers NNPS I-NP +are VBP B-VP +just RB I-VP +putting VBG I-VP +this DT B-NP +preaching NN I-NP +into IN B-PP +practice NN B-NP +. . O + +Thus RB B-ADVP +, , O +farmer NN B-NP +Johan NNP I-NP +Fischer NNP I-NP +, , O +his PRP$ B-NP +T-shirt NN I-NP +and CC I-NP +jeans NNS I-NP +covered VBN B-VP +in IN B-PP +grease NN B-NP +, , O +crawls VBZ B-VP +around IN B-ADVP +under IN B-PP +his PRP$ B-NP +planter NN I-NP +, , O +tightening VBG B-VP +bolts NNS B-NP +and CC O +fixing VBG B-VP +dents NNS B-NP +. . O + +On IN B-PP +almost RB B-ADVP +every DT I-ADVP +other JJ B-NP +farm NN I-NP +in IN B-PP +South NNP B-NP +Africa NNP I-NP +, , O +black JJ B-NP +workers NNS I-NP +do VBP B-VP +the DT B-NP +repairs NNS I-NP +. . O + +But CC O +not RB O +here RB B-ADVP +. . O + +Mr. NNP B-NP +Fischer NNP I-NP +plows VBZ B-VP +his PRP$ B-NP +own JJ I-NP +fields NNS I-NP +, , O +sows VBZ B-VP +his PRP$ B-NP +own JJ I-NP +corn NN I-NP +and CC I-NP +sunflowers NNS I-NP +, , O +and CC O +feeds VBZ B-VP +his PRP$ B-NP +own JJ I-NP +sheep NN I-NP +. . O + +Over IN B-PP +at IN B-PP +the DT B-NP +fiberglass NNS I-NP +factory NN I-NP +, , O +four CD B-NP +white JJ I-NP +workers NNS I-NP +assemble VBP B-VP +water NN B-NP +tanks NNS I-NP +on IN B-PP +their PRP$ B-NP +own JJ I-NP +, , O +and CC O +in IN B-PP +their PRP$ B-NP +spare JJ I-NP +time NN I-NP +they PRP B-NP +build VBP B-VP +townhouses NNS B-NP +across IN B-PP +the DT B-NP +road NN I-NP +. . O + +On IN B-PP +Main NNP B-NP +Street NNP I-NP +, , O +Alida NNP B-NP +Verwoerd NNP I-NP +and CC O +her PRP$ B-NP +daughters NNS I-NP +look VBP B-VP +after IN B-PP +the DT B-NP +clothes NNS I-NP +and CC I-NP +fabric NN I-NP +shop NN I-NP +, , O +then JJ O +hurry NN B-VP +home NN B-ADVP +to TO B-VP +fix VB I-VP +lunch NN B-NP +for IN B-PP +the DT B-NP +rest NN I-NP +of IN B-PP +the DT B-NP +family NN I-NP +. . O + +Down IN B-PP +by IN B-PP +the DT B-NP +stream NN I-NP +, , O +a DT B-NP +group NN I-NP +of IN B-PP +Orange NNP B-NP +Workers NNPS I-NP +puts VBZ B-VP +the DT B-NP +finishing VBG I-NP +touches NNS I-NP +on IN B-PP +a DT B-NP +golf NN I-NP +course NN I-NP +. . O + +If IN B-SBAR +whites NNS B-NP +want VBP B-VP +to TO I-VP +play VB I-VP +there RB B-ADVP +by IN B-PP +themselves PRP B-NP +, , O +says VBZ B-VP +consulting NN B-NP +engineer NN I-NP +Willem NNP I-NP +van NNP I-NP +Heerden NNP I-NP +, , O +whites NNS B-NP +should MD B-VP +also RB I-VP +build VB I-VP +it PRP B-NP +by IN B-PP +themselves PRP B-NP +. . O + +`` `` O +If IN B-SBAR +we PRP B-NP +want VBP B-VP +to TO I-VP +survive VB I-VP +as IN B-PP +a DT B-NP +people NNS I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +, , O +`` `` O +we PRP B-NP +have VBP B-VP +to TO I-VP +change VB I-VP +our PRP$ B-NP +way NN I-NP +of IN B-PP +life NN B-NP +. . O + +The DT B-NP +Afrikaner JJ I-NP +must MD B-VP +end VB I-VP +his PRP$ B-NP +reliance NN I-NP +on IN B-PP +others NNS B-NP +. . O +'' '' O + +In IN B-PP +their PRP$ B-NP +quest NN I-NP +to TO B-VP +perfect JJ I-VP +apartheid NN B-NP +, , O +the DT B-NP +Orange NNP I-NP +Workers NNPS I-NP +have VBP B-VP +discovered VBN I-VP +a DT B-NP +truth NN I-NP +that IN B-NP +most RBS B-NP +of IN B-PP +privileged JJ B-NP +white JJ I-NP +South NNP I-NP +Africa NNP I-NP +tries VBZ B-VP +mightily RB B-ADVP +to TO B-VP +deny VB I-VP +: : O +The DT B-NP +master NN I-NP +ca MD B-VP +n't RB I-VP +become VB I-VP +dependent JJ B-ADJP +on IN B-PP +the DT B-NP +slave NN I-NP +and CC O +expect VBP B-VP +to TO I-VP +remain VB I-VP +master NN B-NP +forever RB B-ADVP +. . O + +`` `` O +If IN B-SBAR +apartheid NN B-NP +means VBZ B-VP +you PRP B-NP +want VBP B-VP +cheap JJ B-NP +black JJ I-NP +labor NN I-NP +and CC O +all PDT B-NP +the DT I-NP +comforts NNS I-NP +that WDT B-NP +go VBP B-VP +with IN B-PP +it PRP B-NP +, , O +but CC O +you PRP B-NP +also RB B-ADVP +want VBP B-VP +to TO I-VP +exclude VB I-VP +the DT B-NP +blacks NNS I-NP +from IN B-PP +social JJ B-NP +and CC I-NP +political JJ I-NP +integration NN I-NP +, , O +then RB B-ADVP +these DT B-NP +are VBP B-VP +two CD B-NP +contradictions NNS I-NP +that WDT B-NP +ca MD B-VP +n't RB I-VP +go VB I-VP +on IN B-PRT +forever RB B-ADVP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Verwoerd NNP I-NP +. . O + +He PRP B-NP +is VBZ B-VP +sitting VBG I-VP +in IN B-PP +his PRP$ B-NP +living NN I-NP +room NN I-NP +, , O +beneath IN B-PP +a DT B-NP +huge JJ I-NP +portrait NN I-NP +of IN B-PP +his PRP$ B-NP +late JJ I-NP +father NN I-NP +, , O +Hendrik NNP B-NP +F. NNP I-NP +Verwoerd NNP I-NP +, , O +apartheid NN B-NP +'s POS B-NP +architect NN I-NP +and CC O +South JJ B-NP +African JJ I-NP +prime JJ I-NP +minister NN I-NP +from IN B-PP +1958 CD B-NP +to TO B-PP +1966 CD B-NP +. . O + +Somewhere RB B-ADVP +, , O +the DT B-NP +son NN I-NP +sighs VBZ B-VP +, , O +things NNS B-NP +went VBN B-VP +terribly RB B-ADJP +wrong JJ I-ADJP +with IN B-PP +apartheid NN B-NP +; : O +today NN B-NP +, , O +whites NNS B-NP +even RB B-ADVP +rely VBP B-VP +on IN B-PP +blacks NNS B-NP +to TO B-VP +police VB I-VP +their PRP$ B-NP +separation NN I-NP +. . O + +`` `` O +People NNS B-NP +took VBD B-VP +separate JJ B-NP +development NN I-NP +as IN B-PP +an DT B-NP +opportunity NN I-NP +to TO B-VP +use VB I-VP +black JJ B-NP +labor NN I-NP +without IN B-PP +ever RB B-ADVP +getting VBG B-VP +rid JJ B-ADJP +of IN B-PP +it PRP B-NP +. . O + +But CC O +my PRP$ B-NP +father NN I-NP +meant VBD B-VP +it PRP B-NP +to TO B-VP +mean VB I-VP +real JJ B-NP +separation NN I-NP +, , O +'' '' O +says VBZ B-VP +the DT B-NP +son NN I-NP +. . O + +The DT B-NP +Orange NNP I-NP +Workers NNPS I-NP +speak VBP B-VP +sincerely RB B-ADVP +. . O + +`` `` O +We PRP B-NP +agree VBP B-VP +with IN B-PP +world NN B-NP +opinion NN I-NP +that IN B-SBAR +the DT B-NP +status NN I-NP +quo FW I-NP +in IN B-PP +South NNP B-NP +Africa NNP I-NP +is VBZ B-VP +morally RB B-ADJP +wrong JJ I-ADJP +, , O +'' '' O +says VBZ B-VP +Pieter NNP B-NP +Bruwer NNP I-NP +, , O +the DT B-NP +Orange NNP I-NP +Workers NNPS I-NP +' POS B-NP +chief JJ I-NP +scribe NN I-NP +and CC I-NP +pamphleteer NN I-NP +. . O + +`` `` O +We PRP B-NP +must MD B-VP +either DT I-VP +integrate VB I-VP +honestly RB B-ADVP +or CC O +segregate VB B-VP +honestly RB B-ADVP +. . O +'' '' O + +Morgenzon NNP B-NP +has VBZ B-VP +long RB I-VP +been VBN I-VP +a DT B-NP +special JJ I-NP +domain NN I-NP +of IN B-PP +Afrikanerdom NNP B-NP +. . O + +According VBG B-PP +to TO B-PP +Mr. NNP B-NP +Verwoerd NNP I-NP +, , O +the DT B-NP +early JJ I-NP +Afrikaner JJ I-NP +pioneers NNS I-NP +were VBD B-VP +the DT B-NP +first JJ I-NP +people NNS I-NP +to TO B-VP +settle VB I-VP +in IN B-PP +the DT B-NP +eastern JJ I-NP +Transvaal NNP I-NP +, , O +even RB B-PP +before IN I-PP +the DT B-NP +blacks NNS I-NP +. . O + +Then RB O +, , O +when WRB B-ADVP +Morgenzon NNP B-NP +was VBD B-VP +incorporated VBN I-VP +in IN B-PP +1908 CD B-NP +, , O +the DT B-NP +farmer NN I-NP +who WP B-NP +owned VBD B-VP +the DT B-NP +land NN I-NP +stipulated VBD B-VP +that IN B-SBAR +only JJ B-NP +whites NNS I-NP +could MD B-VP +reside VB I-VP +in IN B-PP +town NN B-NP +; : O +blacks NNS B-NP +could MD B-VP +work VB I-VP +there EX B-ADVP +, , O +but CC O +they PRP B-NP +had VBD B-VP +to TO I-VP +leave VB I-VP +at IN B-PP +night NN B-NP +. . O + +Today NN B-NP +, , O +Morgenzon NNP B-NP +is VBZ B-VP +a DT B-NP +town NN I-NP +of IN B-PP +800 CD B-NP +whites NNS I-NP +and CC O +two CD B-NP +paved JJ I-NP +roads NNS I-NP +. . O + +Weeds NNS B-NP +push VBP B-VP +up IN B-ADVP +through IN B-PP +the DT B-NP +cracks NNS I-NP +in IN B-PP +the DT B-NP +sidewalks NNS I-NP +, , O +and CC O +many JJ B-NP +houses NNS I-NP +and CC I-NP +storefronts NNS I-NP +are VBP B-VP +empty JJ B-ADJP +. . O + +There EX B-NP +are VBP B-VP +few JJ B-NP +factories NNS I-NP +and CC O +no DT B-NP +mines NNS I-NP +. . O + +It PRP B-NP +was VBD B-VP +an DT B-NP +ideal JJ I-NP +place NN I-NP +for IN B-SBAR +the DT B-NP +Orange NNP I-NP +Workers NNPS I-NP +to TO B-VP +start VB I-VP +their PRP$ B-NP +new JJ I-NP +nation NN I-NP +, , O +unencumbered JJ B-ADJP +by IN B-PP +the DT B-NP +demographics NNS I-NP +that WDT B-NP +have VBP B-VP +undermined VBN I-VP +apartheid NN B-NP +elsewhere RB B-ADVP +in IN B-PP +South NNP B-NP +Africa NNP I-NP +. . O + +So RB B-ADVP +far RB I-ADVP +, , O +about IN B-NP +150 CD I-NP +Orange NNP I-NP +Workers NNPS I-NP +have VBP B-VP +moved VBN I-VP +here RB B-ADVP +, , O +spending NN B-VP +nearly RB B-NP +$ $ I-NP +1 CD I-NP +million CD I-NP +buying VBG B-VP +up IN B-PRT +property NN B-NP +over IN B-PP +the DT B-NP +past JJ I-NP +three CD I-NP +years NNS I-NP +. . O + +Still RB B-ADVP +, , O +complete JJ B-NP +and CC I-NP +total JJ I-NP +segregation NN I-NP +remains VBZ B-VP +elusive JJ B-ADJP +. . O + +Just RB B-PP +beyond IN I-PP +the DT B-NP +city NN I-NP +limits NNS I-NP +is VBZ B-VP +a DT B-NP +shantytown NN I-NP +of IN B-PP +2,000 CD B-NP +blacks NNS I-NP +who WP B-NP +are VBP B-VP +employed VBN I-VP +throughout IN B-PP +the DT B-NP +area NN I-NP +. . O + +Despite IN B-PP +the DT B-NP +Orange NNP I-NP +Workers NNPS I-NP +' POS B-NP +intention NN I-NP +to TO B-VP +put VB I-VP +them PRP B-NP +all DT B-NP +out NN B-PP +of IN B-PP +work NN B-NP +, , O +they PRP B-NP +are VBP B-VP +in IN B-PP +no DT B-NP +hurry NN I-NP +to TO B-VP +leave VB I-VP +. . O + +A DT B-NP +young JJ I-NP +man NN I-NP +called VBN B-VP +July NNP B-NP +-LRB- ( O +that DT B-NP +'s VBZ B-VP +when WRB B-ADVP +he PRP B-NP +was VBD B-VP +born VBN I-VP +-RRB- ) O +, , O +who WP B-NP +works VBZ B-VP +at IN B-PP +the DT B-NP +railroad NN I-NP +station NN I-NP +just RB B-PP +up IN I-PP +the DT B-NP +street NN I-NP +from IN B-PP +the DT B-NP +Orange NNP I-NP +Workers NNPS I-NP +office NN I-NP +, , O +points VBZ B-VP +at IN B-PP +the DT B-NP +whitewalled JJ I-NP +building NN I-NP +and CC O +says VBZ B-VP +matter-of-factly RB B-ADVP +, , O +`` `` O +We PRP B-NP +'re VBP B-VP +not RB I-VP +allowed VBN I-VP +in IN B-PP +there EX B-NP +, , O +that DT B-NP +'s VBZ B-VP +all DT B-NP +I PRP B-NP +know VBP B-VP +. . O +'' '' O + +The DT B-NP +650-or-so JJ I-NP +local JJ I-NP +whites NNS I-NP +who WP B-NP +are VBP B-VP +n't RB O +Orange NNP B-NP +Workers NNPS I-NP +are VBP B-VP +more RBR B-ADJP +troubled JJ I-ADJP +. . O + +Try VB B-VP +as IN B-SBAR +they PRP B-NP +might MD B-VP +, , O +they PRP B-NP +just RB B-ADVP +ca MD B-VP +n't RB I-VP +conceive VB I-VP +of IN B-PP +life NN B-NP +without IN B-PP +black JJ B-NP +workers NNS I-NP +. . O + +`` `` O +Impossible JJ B-ADJP +, , I-ADJP +impossible JJ I-ADJP +, , O +'' '' O +say VBP B-VP +the DT B-NP +Conradies NNP I-NP +, , O +an DT B-NP +elderly JJ I-NP +couple NN I-NP +who WP B-NP +have VBP B-VP +run VBN I-VP +the DT B-NP +general JJ I-NP +store NN I-NP +for IN B-PP +decades NNS B-NP +. . O + +`` `` O +We PRP B-NP +ca MD B-VP +n't RB I-VP +do VB I-VP +without IN B-PP +their PRP$ B-NP +help NN I-NP +, , O +'' '' O +says VBZ B-VP +Mrs. NNP B-NP +Conradie NNP I-NP +. . O + +`` `` O +Oh UH B-INTJ +no DT I-INTJ +. . O + +We PRP B-NP +need VBP B-VP +them PRP B-NP +and CC O +I PRP B-NP +thank VBP B-VP +God NNP B-NP +for IN B-PP +them PRP B-NP +. . O +'' '' O + +Over IN B-PP +at IN B-PP +the DT B-NP +Shell NNP I-NP +station NN I-NP +, , O +owner NN B-NP +Rudi NNP I-NP +van NNP I-NP +Dyk NNP I-NP +, , O +who WP B-NP +doubles VBZ B-VP +as IN B-PP +Morgenzon NNP B-NP +'s POS B-NP +mayor NN I-NP +, , O +worries VBZ B-VP +that IN B-SBAR +the DT B-NP +Orange NNP I-NP +Workers NNPS I-NP +have VBP B-VP +made VBN I-VP +his PRP$ B-NP +town NN I-NP +the DT B-NP +laughingstock NN I-NP +of IN B-PP +the DT B-NP +nation NN I-NP +. . O + +`` `` O +What WP B-NP +they PRP B-NP +want VBP B-VP +us PRP B-NP +to TO B-VP +do VB I-VP +just RB B-ADVP +is VBZ B-VP +n't RB O +practical JJ B-ADJP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +, , O +noting VBG B-VP +that IN B-SBAR +he PRP B-NP +employs VBZ B-VP +16 CD B-NP +blacks NNS I-NP +. . O + +`` `` O +I PRP B-NP +could MD B-VP +n't RB I-VP +afford VB I-VP +to TO I-VP +hire VB I-VP +16 CD B-NP +whites NNS I-NP +. . O + +The DT B-NP +only RB I-NP +Afrikaners NNPS I-NP +who WP B-NP +would MD B-VP +be VB I-VP +willing JJ B-ADJP +to TO B-VP +work VB I-VP +for IN B-PP +this DT B-NP +salary NN I-NP +would MD B-VP +n't RB I-VP +know VB I-VP +how WRB B-ADVP +to TO B-VP +handle VB I-VP +money NN B-NP +. . O +'' '' O + +Back RB B-ADVP +at IN B-PP +the DT B-NP +Verwoerd NNP I-NP +house NN I-NP +, , O +Hendrik NNP B-NP +Sr. NNP I-NP +peers NNS B-VP +down RB B-ADVP +over IN B-PP +the DT B-NP +shoulder NN I-NP +of IN B-PP +Hendrik NNP B-NP +Jr NNP I-NP +. . O + +The DT B-NP +son NN I-NP +believes VBZ B-VP +that IN B-SBAR +when WRB B-ADVP +the DT B-NP +Afrikaners NNPS I-NP +finally RB B-ADVP +realize VB B-VP +there EX B-NP +is VBZ B-VP +no DT B-NP +turning VBG B-VP +back RB B-ADVP +the DT B-NP +integration NN I-NP +of IN B-PP +South JJ B-NP +African JJ I-NP +society NN I-NP +and CC I-NP +politics NNS I-NP +, , O +Morgenzon NNP B-NP +will MD B-VP +boom VB I-VP +. . O + +`` `` O +We PRP B-NP +urge VBP B-VP +our PRP$ B-NP +people NNS I-NP +not RB O +to TO B-VP +wait VB I-VP +until IN B-SBAR +they PRP B-NP +have VBP B-VP +to TO I-VP +fight VB I-VP +for IN B-PP +their PRP$ B-NP +own JJ I-NP +nation NN I-NP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Verwoerd NNP I-NP +. . O + +`` `` O +By IN B-PP +populating VBG B-VP +a DT B-NP +place NN I-NP +now RB B-ADVP +, , O +we PRP B-NP +make VBP B-VP +ourselves PRP B-NP +a DT B-NP +power NN I-NP +any DT B-NP +new JJ I-NP +government NN I-NP +will MD B-VP +have VB I-VP +to TO I-VP +take VB I-VP +into IN B-PP +account NN B-NP +. . O +'' '' O + +Curiously RB B-ADVP +, , O +he PRP B-NP +compares VBZ B-VP +the DT B-NP +Orange NNP I-NP +Workers NNPS I-NP +to TO B-PP +the DT B-NP +ANC NNP I-NP +, , O +which WDT B-NP +his PRP$ B-NP +father NN I-NP +outlawed VBN B-VP +in IN B-PP +1960 CD B-NP +. . O + +`` `` O +The DT B-NP +ANC NNP I-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +stopped VBN I-VP +until IN B-SBAR +there EX B-NP +is VBZ B-VP +a DT B-NP +provision NN I-NP +for IN B-PP +black JJ B-NP +aspirations NNS I-NP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Verwoerd NNP I-NP +. . O + +`` `` O +Likewise RB B-ADVP +, , O +no DT B-NP +government NN I-NP +will MD B-VP +stop VB I-VP +this DT B-NP +idea NN I-NP +of IN B-PP +the DT B-NP +Afrikaners NNPS I-NP +. . O +'' '' O + +He PRP B-NP +apologizes VBZ B-VP +for IN B-PP +sounding VBG B-VP +pushy JJ B-ADJP +. . O + +`` `` O +Look VB B-VP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +, , O +`` `` O +If IN B-SBAR +the DT B-NP +rest NN I-NP +of IN B-PP +South NNP B-NP +Africa NNP I-NP +wants VBZ B-VP +to TO I-VP +have VB I-VP +an DT B-NP +integrated VBN I-NP +melting VBG I-NP +pot NN I-NP +, , O +that DT B-NP +'s VBZ B-VP +their PRP$ B-NP +choice NN I-NP +. . O + +We PRP B-NP +'ll MD B-VP +leave VB I-VP +them PRP B-NP +alone RB B-ADVP +. . O + +We PRP B-NP +just RB B-ADVP +want VBP B-VP +to TO I-VP +have VB I-VP +our PRP$ B-NP +own JJ I-NP +cup NN I-NP +of IN B-PP +tea NN B-NP +. . O +'' '' O + +And CC O +they PRP B-NP +will MD B-VP +even RB I-VP +serve VB I-VP +it PRP B-NP +themselves PRP B-NP +. . O + +Okay UH B-INTJ +, , O +now RB B-ADVP +you PRP B-NP +can MD B-VP +pick VB I-VP +up IN B-PRT +that DT B-NP +phone NN I-NP +. . O + +But CC O +do VBP B-VP +n't RB I-VP +do VB I-VP +anything NN B-NP +rash NN B-ADJP +. . O + +After IN B-PP +last JJ B-NP +Friday NNP I-NP +'s POS B-NP +stock-market NN I-NP +plunge NN I-NP +, , O +investment NN B-NP +professionals NNS I-NP +cautioned VBD B-VP +people NNS B-NP +to TO B-VP +resist VB I-VP +the DT B-NP +urge NN I-NP +to TO B-VP +call VB I-VP +their PRP$ B-NP +brokers NNS I-NP +and CC O +sell VB B-VP +stocks NNS B-NP +. . O + +Not RB O +selling VBG B-VP +into IN B-PP +a DT B-NP +panic NN I-NP +turned VBD B-VP +out IN B-PRT +to TO B-VP +be VB I-VP +very RB B-NP +good JJ I-NP +advice NN I-NP +: : O +Despite IN B-PP +the DT B-NP +market NN I-NP +'s POS B-NP +volatility NN I-NP +, , O +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +has VBZ B-VP +surged VBN I-VP +114 CD B-NP +points NNS I-NP +in IN B-PP +the DT B-NP +past JJ I-NP +four CD I-NP +days NNS I-NP +. . O + +Now RB B-ADVP +, , O +with IN B-PP +a DT B-NP +semblance NN I-NP +of IN B-PP +normalcy NN B-NP +returning VBG B-VP +, , O +some DT B-NP +advisers NNS I-NP +say VBP B-VP +it PRP B-NP +'s VBZ B-VP +time NN B-NP +for IN B-SBAR +investors NNS B-NP +to TO B-VP +take VB I-VP +a DT B-NP +hard JJ I-NP +, , I-NP +cold JJ I-NP +look NN I-NP +at IN B-PP +the DT B-NP +stocks NNS I-NP +they PRP B-NP +own JJ B-VP +and CC O +consider VB B-VP +some DT B-NP +careful JJ I-NP +pruning NN I-NP +. . O + +`` `` O +The DT B-NP +market NN I-NP +is VBZ B-VP +sending VBG I-VP +nervous JJ B-NP +signals NNS I-NP +, , O +'' '' O +says VBZ B-VP +Peter NNP B-NP +J. NNP I-NP +Canelo NNP I-NP +, , O +chief JJ B-NP +market NN I-NP +strategist NN I-NP +for IN B-PP +Bear NNP B-NP +, , I-NP +Stearns NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +and CC O +it PRP B-NP +'s VBZ B-VP +`` `` O +unwise JJ B-ADJP +'' '' O +to TO B-VP +be VB I-VP +overcommitted VBN I-VP +to TO B-PP +stocks NNS B-NP +. . O + +Alan NNP B-NP +Weston NNP I-NP +, , O +president NN B-NP +of IN B-PP +Weston NNP B-NP +Capital NNP I-NP +Management NNP I-NP +, , O +a DT B-NP +Los NNP I-NP +Angeles NNP I-NP +money-management NN I-NP +firm NN I-NP +, , O +adds VBZ B-VP +that IN B-SBAR +in IN B-PP +periods NNS B-NP +of IN B-PP +uncertainty NN B-NP +like IN B-PP +today NN B-NP +, , O +`` `` O +it PRP B-NP +'s VBZ B-VP +a DT B-NP +good JJ I-NP +time NN I-NP +to TO B-VP +cut VB I-VP +out RP B-PRT +the IN B-NP +dead JJ I-NP +branches NNS I-NP +of IN B-PP +your PRP$ B-NP +portfolio NN I-NP +. . O +'' '' O + +Not RB B-NP +everybody NN I-NP +agrees VBZ B-VP +that IN B-SBAR +it PRP B-NP +'s VBZ B-VP +time NN B-NP +to TO B-VP +trim VB I-VP +. . O + +`` `` O +We PRP B-NP +are VBP B-VP +n't RB O +inclined VBN B-ADJP +to TO B-VP +prune VB I-VP +stock NN B-NP +portfolios NNS I-NP +now RB B-ADVP +, , O +'' '' O +says VBZ B-VP +Steven NNP B-NP +G. NNP I-NP +Einhorn NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +the DT B-NP +investment NN I-NP +policy NN I-NP +committee NN I-NP +of IN B-PP +Goldman NNP B-NP +, , I-NP +Sachs NNP I-NP +& CC I-NP +Co NNP I-NP +. . O + +`` `` O +Investors NNS B-NP +should MD B-VP +stay VB I-VP +with IN B-PP +their PRP$ B-NP +stocks NNS I-NP +. . O + +We PRP B-NP +expect VBP B-VP +a DT B-NP +choppy JJ I-NP +and CC I-NP +sloppy JJ I-NP +market NN I-NP +for IN B-PP +a DT B-NP +short JJ I-NP +period NN I-NP +, , O +but CC O +we PRP B-NP +do VBP B-VP +n't RB I-VP +think VB I-VP +it PRP B-NP +will MD B-VP +be VB I-VP +ugly JJ B-ADJP +. . O + +The DT B-NP +downside NN I-NP +is VBZ B-VP +limited JJ B-ADJP +. . O +'' '' O + +And CC O +even RB B-ADVP +those DT B-NP +who WP B-NP +say VBP B-VP +some DT B-NP +selective JJ I-NP +selling NN I-NP +may MD B-VP +be VB I-VP +in IN B-PP +order NN B-NP +stress NN B-VP +that IN B-SBAR +individuals NNS B-NP +need VBP B-VP +to TO I-VP +be VB I-VP +in IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +to TO B-VP +achieve VB I-VP +their PRP$ B-NP +long-term JJ I-NP +investment NN I-NP +objectives NNS I-NP +and CC O +to TO B-VP +help VB I-VP +balance VB I-VP +their PRP$ B-NP +other JJ I-NP +assets NNS I-NP +. . O + +Any DT B-NP +selling NN I-NP +, , O +they PRP B-NP +say VBP B-VP +, , O +should MD B-VP +be VB I-VP +well RB B-ADJP +thought-out JJ I-ADJP +, , O +and CC O +executed VBD B-VP +gradually RB B-ADVP +, , O +during IN B-PP +market NN B-NP +rallies NNS I-NP +. . O + +They PRP B-NP +offer VBP B-VP +these DT B-NP +suggestions NNS I-NP +: : O + +GET VB B-VP +RID VB I-VP +OF IN B-PP +THE DT B-NP +DOGS NNS I-NP +. . O + +`` `` O +Sell VB B-VP +stocks NNS B-NP +that WDT B-NP +are VBP B-VP +n't RB I-VP +doing VBG I-VP +well RB B-ADVP +now RB B-ADVP +, , O +and CC O +that DT B-NP +do VBP B-VP +n't RB I-VP +have VB I-VP +good JJ B-NP +earnings NNS I-NP +prospects NNS I-NP +, , O +'' '' O +says VBZ B-VP +Alfred NNP B-NP +Goldman NNP I-NP +, , O +technical JJ B-NP +analyst NN I-NP +at IN B-PP +St. NNP B-NP +Louis-based JJ I-NP +A.G. NNP I-NP +Edwards NNP I-NP +& CC I-NP +Sons NNP I-NP +. . O + +`` `` O +Most JJS B-NP +people NNS I-NP +do VBP B-VP +just RB B-NP +the DT I-NP +opposite JJ I-NP +: : O +They PRP B-NP +sell VBP B-VP +their PRP$ B-NP +winners NNS I-NP +and CC O +keep VB B-VP +their PRP$ B-NP +losers NNS I-NP +. . O +'' '' O + +Which WDT B-NP +types NNS I-NP +of IN B-PP +stocks NNS B-NP +are VBP B-VP +most RBS B-ADVP +likely JJ I-ADVP +to TO B-VP +qualify VB I-VP +? . O + +Technology NN B-NP +stocks NNS I-NP +, , O +says VBZ B-VP +Mr. NNP B-NP +Goldman NNP I-NP +. . O + +WATCH VB B-VP +FOR IN B-PP +EARNINGS NNS B-NP +DISAPPOINTMENTS NNS I-NP +. . O + +A DT B-NP +company NN I-NP +does VBZ B-VP +n't RB I-VP +have VB I-VP +to TO I-VP +post VB I-VP +a DT B-NP +loss NN I-NP +to TO B-VP +be VB I-VP +a DT B-NP +candidate NN I-NP +for IN B-PP +sale NN B-NP +, , O +says VBZ B-VP +Charles NNP B-NP +I. NNP I-NP +Clough NNP I-NP +Jr. NNP I-NP +, , O +chief JJ B-NP +market NN I-NP +strategist NN I-NP +at IN B-PP +Merrill NNP B-NP +Lynch NNP I-NP +& CC I-NP +Co NNP I-NP +. . O + +If IN B-SBAR +earnings NNS B-NP +do NN B-VP +n't RB I-VP +live VB I-VP +up IN B-PRT +to TO B-PP +analysts NNS B-NP +' POS B-NP +expectations NNS I-NP +, , O +he PRP B-NP +says VBZ B-VP +, , O +that DT B-NP +'s VBZ B-VP +enough RB B-ADJP +to TO B-VP +dump VB I-VP +the DT B-NP +stock NN I-NP +. . O + +John NNP B-NP +Markese NNP I-NP +, , O +director NN B-NP +of IN B-PP +research NN B-NP +for IN B-PP +the DT B-NP +American NNP I-NP +Association NNP I-NP +of IN B-PP +Individual JJ B-NP +Investors NNS I-NP +, , O +raises VBZ B-VP +a DT B-NP +cautionary JJ I-NP +note NN I-NP +. . O + +`` `` O +Substituting VBG B-VP +a DT B-NP +rule NN I-NP +of IN B-PP +thumb NN B-NP +for IN B-PP +your PRP$ B-NP +own JJ I-NP +judgment NN I-NP +'' '' O +can MD B-VP +be VB I-VP +a DT B-NP +mistake NN I-NP +, , O +he PRP B-NP +says VBZ B-VP +. . O + +An DT B-NP +earnings NNS I-NP +disappointment NN I-NP +may MD B-VP +reflect VB I-VP +a DT B-NP +situation NN I-NP +that WDT B-NP +'s VBZ B-VP +short-term JJ B-ADJP +. . O + +But CC O +Mr. NNP B-NP +Clough NNP I-NP +says VBZ B-VP +, , O +`` `` O +The DT B-NP +risk NN I-NP +is VBZ B-VP +that IN B-SBAR +earnings NNS B-NP +disappointments NNS I-NP +will MD B-VP +continue VB I-VP +. . O +'' '' O + +The DT B-NP +economy NN I-NP +is VBZ B-VP +decelerating VBG I-VP +after IN B-PP +six CD B-NP +good JJ I-NP +years NNS I-NP +, , O +and CC O +`` `` O +right RB B-ADVP +now RB I-ADVP +it PRP B-NP +'s VBZ B-VP +better JJR B-ADJP +to TO B-VP +shoot VB I-VP +first JJ B-ADVP +and CC O +ask VB B-VP +questions NNS B-NP +later RB B-ADVP +. . O +'' '' O + +Which WDT B-NP +types NNS I-NP +of IN B-PP +stocks NNS B-NP +currently RB B-ADVP +have VBP B-VP +the DT B-NP +greatest JJS I-NP +earnings NNS I-NP +risks NNS I-NP +? . O + +Computer NN B-NP +companies NNS I-NP +; : O +commodity NN B-NP +cyclical JJ I-NP +stocks NNS I-NP +, , O +like IN B-PP +autos NNS B-NP +; : O +and CC O +retailing NN B-NP +stocks NNS I-NP +, , O +he PRP B-NP +says VBZ B-VP +. . O + +BEWARE VB B-VP +OF IN B-PP +HEAVY JJ B-NP +DEBT NN I-NP +. . O + +The DT B-NP +companies NNS I-NP +apt JJ B-ADJP +to TO B-VP +run VB I-VP +into IN B-PP +earnings NNS B-NP +problems NNS I-NP +soonest JJS B-ADVP +are VBP B-VP +the DT B-NP +ones NNS I-NP +with IN B-PP +heavy JJ B-NP +debt NN I-NP +loads NNS I-NP +, , O +says VBZ B-VP +Larry NNP B-NP +Biehl NNP I-NP +, , O +partner NN B-NP +in IN B-PP +the DT B-NP +San NNP I-NP +Mateo NNP I-NP +, , I-NP +Calif. NNP I-NP +, , I-NP +money-management NN I-NP +firm NN I-NP +of IN B-PP +Bailard NNP B-NP +, , I-NP +Biehl NNP I-NP +& CC I-NP +Kaiser NNP I-NP +. . O + +Mr. NNP B-NP +Canelo NNP I-NP +of IN B-PP +Bear NNP B-NP +Stearns NNP I-NP +agrees VBZ B-VP +: : O +`` `` O +If IN B-SBAR +we PRP B-NP +do VBP B-VP +have VB I-VP +an DT B-NP +economic JJ I-NP +slowdown NN I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +, , O +`` `` O +companies NNS B-NP +with IN B-PP +high JJ B-NP +debt NN I-NP +ratios NNS I-NP +will MD B-VP +be VB I-VP +dumped VBN I-VP +en IN B-ADVP +masse FW I-ADVP +. . O +'' '' O + +The DT B-NP +best JJS I-NP +course NN I-NP +for IN B-PP +individual JJ B-NP +investors NNS I-NP +is VBZ B-VP +to TO B-VP +sell VB I-VP +these DT B-NP +stocks NNS I-NP +now RB B-ADVP +, , O +the DT B-NP +two CD I-NP +advisers NNS I-NP +say VBP B-VP +. . O + +SELL VB B-VP +` `` B-NP +WHISPER NN I-NP +' '' I-NP +STOCKS NNS I-NP +. . O + +UAL NNP B-NP +Corp. NNP I-NP +'s POS B-NP +difficulty NN I-NP +in IN B-PP +obtaining VBG B-VP +bank NN B-NP +financing NN I-NP +for IN B-PP +its PRP$ B-NP +leveraged JJ I-NP +buy-out NN I-NP +and CC O +its PRP$ B-NP +resulting VBG I-NP +price NN I-NP +plunge NN I-NP +is VBZ B-VP +a DT B-NP +tip-off NN I-NP +to TO B-PP +what WP B-NP +'s VBZ B-VP +going VBG I-VP +to TO I-VP +happen VB I-VP +to TO B-PP +`` `` O +takeover NN B-NP +stocks NNS I-NP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Canelo NNP I-NP +. . O + +Takeover NN B-NP +activity NN I-NP +will MD B-VP +slow VB I-VP +down RB B-PRT +as IN O +more JJR B-NP +and CC I-NP +more JJR I-NP +banks NNS I-NP +tighten VBP B-VP +their PRP$ B-NP +lending NN I-NP +requirements NNS I-NP +, , O +he PRP B-NP +says VBZ B-VP +. . O + +`` `` O +There EX B-NP +'ll MD B-VP +be VB I-VP +fewer JJR B-NP +and CC I-NP +fewer JJR I-NP +deals NNS I-NP +. . O +'' '' O + +Moreover RB B-ADVP +, , O +many JJ B-NP +financial JJ I-NP +advisers NNS I-NP +say VBP B-VP +individuals NNS B-NP +should MD B-VP +be VB I-VP +in IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +as IN B-PP +long-term JJ B-NP +investors NNS I-NP +, , B-PP +not RB I-PP +as IN B-PP +traders NNS B-NP +trying VBG B-VP +to TO I-VP +catch VB I-VP +the DT B-NP +next JJ I-NP +hot JJ I-NP +stock NN I-NP +. . O + +In IN B-PP +general JJ B-ADJP +, , O +they PRP B-NP +say VBP B-VP +, , O +avoid VB B-VP +takeover NN B-NP +stocks NNS I-NP +. . O + +COMPARE VB B-VP +P\/E NNP B-NP +RATIOS NNS I-NP +WITH IN B-PP +PROSPECTS NNS B-NP +. . O + +Mr. NNP B-NP +Canelo NNP I-NP +suggests VBZ B-VP +that IN B-SBAR +investors NNS B-NP +compare VBP B-VP +price\/earnings NNS B-NP +ratios NNS I-NP +-LRB- ( O +the DT B-NP +price NN I-NP +of IN B-PP +a DT B-NP +share NN I-NP +of IN B-PP +stock NN B-NP +divided VBN B-VP +by IN B-PP +a DT B-NP +company NN I-NP +'s POS B-NP +per-share JJ I-NP +earnings NNS I-NP +for IN B-PP +a DT B-NP +12-month JJ I-NP +period NN I-NP +-RRB- ) O +with IN B-PP +projected VBN B-NP +growth NN I-NP +rates NNS I-NP +. . O + +`` `` O +If IN B-SBAR +you PRP B-NP +think VBP B-VP +earnings NNS B-NP +will MD B-VP +grow VB I-VP +at IN B-PP +20 CD B-NP +% NN I-NP +a DT B-NP +year NN I-NP +, , O +it PRP B-NP +'s VBZ B-VP +all DT B-ADJP +right NN I-ADJP +to TO B-VP +pay VB I-VP +20 CD B-NP +times NNS I-NP +earnings NNS I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +`` `` O +But CC O +do VBP B-VP +n't RB I-VP +pay VB I-VP +30 CD B-NP +times NNS I-NP +earnings NNS I-NP +for IN B-PP +a DT B-NP +company NN I-NP +that WDT B-NP +'s VBZ B-VP +expected VBN I-VP +to TO I-VP +grow VB I-VP +at IN B-PP +15 CD B-NP +% NN I-NP +a DT B-NP +year NN I-NP +. . O +'' '' O + +Mr. NNP B-NP +Canelo NNP I-NP +thinks VBZ B-VP +the DT B-NP +market NN I-NP +will MD B-VP +probably RB I-VP +go VB I-VP +higher JJR B-ADVP +, , O +but CC O +`` `` O +will MD B-VP +be VB I-VP +ruthless JJ B-ADJP +with IN B-PP +stocks NNS B-NP +if IN B-SBAR +the DT B-NP +earnings NNS I-NP +are VBP B-VP +n't RB O +there RB B-ADVP +. . O +'' '' O + +Mr. NNP B-NP +Markese NNP I-NP +cautions VBZ B-VP +that IN B-SBAR +investors NNS B-NP +should MD B-VP +n't RB I-VP +slavishly RB I-VP +follow VB I-VP +any DT B-NP +specific JJ I-NP +price\/earnings NNS I-NP +sell VBP I-NP +trigger VB I-NP +. . O + +`` `` O +If IN B-SBAR +you PRP B-NP +say VBP B-VP +sell VB I-VP +anytime RB B-NP +a DT B-NP +company NN I-NP +'s POS B-NP +price\/earnings NNS I-NP +ratio NN I-NP +exceeds VBZ B-VP +15 CD B-NP +, , O +that WDT B-NP +knocks VBZ B-VP +out RP B-PRT +all DT B-NP +your PRP$ I-NP +growth NN I-NP +stocks NNS I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +`` `` O +You PRP B-NP +eliminate VBP B-VP +companies NNS B-NP +with IN B-PP +substantial JJ B-NP +prospects NNS I-NP +that WDT B-NP +are VBP B-VP +moving VBG I-VP +up IN B-ADVP +in IN B-PP +price NN B-NP +. . O +'' '' O + +EXAMINE VB B-VP +WHAT WP B-NP +HAS VBZ B-VP +CHANGED VBN I-VP +. . O + +Tom NNP B-NP +Schlesinger NNP I-NP +, , O +market NN B-NP +analyst NN I-NP +at IN B-PP +A.G. NNP B-NP +Edwards NNP I-NP +& CC I-NP +Sons NNP I-NP +Inc. NNP I-NP +, , O +says VBZ B-VP +investors NNS B-NP +should MD B-VP +consider VB I-VP +selling VBG B-NP +if IN B-SBAR +there EX B-NP +has VBZ B-VP +been VBN I-VP +a DT B-NP +fundamental JJ I-NP +change NN I-NP +in IN B-PP +a DT B-NP +company NN I-NP +since IN B-SBAR +they PRP B-NP +bought VBD B-VP +its PRP$ B-NP +stock NN I-NP +. . O + +Say VB B-VP +you PRP B-NP +purchased VBD B-VP +a DT B-NP +stock NN I-NP +because IN B-PP +of IN I-PP +a DT B-NP +new JJ I-NP +product NN I-NP +that WDT B-NP +was VBD B-VP +in IN B-PP +the DT B-NP +works NNS I-NP +. . O + +Now RB B-ADVP +, , O +because IN B-PP +of IN I-PP +various JJ B-NP +difficulties NNS I-NP +, , O +the DT B-NP +product NN I-NP +has VBZ B-VP +been VBN I-VP +scrapped VBN I-VP +. . O + +Time NNP B-NP +to TO B-VP +sell VB I-VP +, , O +says VBZ B-VP +Mr. NNP B-NP +Schlesinger NNP I-NP +. . O + +Similarly RB B-ADVP +, , O +he PRP B-NP +says VBZ B-VP +, , O +suppose VBP B-VP +you PRP B-NP +were VBD B-VP +attracted VBN I-VP +to TO B-PP +a DT B-NP +company NN I-NP +because IN B-PP +of IN I-PP +expectations NNS B-NP +that IN B-SBAR +sales NNS B-NP +would MD B-VP +hit VB I-VP +$ $ B-NP +200 CD I-NP +million CD I-NP +by IN B-PP +1990 CD B-NP +. . O + +If IN B-SBAR +things NNS B-NP +have VBP B-VP +n't RB I-VP +worked VBN I-VP +out RP B-PRT +that IN B-ADVP +well RB I-ADVP +, , O +and CC O +sales NNS B-NP +wo MD B-VP +n't RB I-VP +hit VB I-VP +$ $ B-NP +200 CD I-NP +million CD I-NP +until IN B-PP +1992 CD B-NP +, , O +it PRP B-NP +'s VBZ B-VP +time NN B-NP +to TO B-VP +consider VB I-VP +selling VBG B-NP +, , O +he PRP B-NP +says VBZ B-VP +. . O + +USX NNP B-NP +Corp. NNP I-NP +declined VBD B-VP +a DT B-NP +United NNP I-NP +Steelworkers NNPS I-NP +request NN I-NP +for IN B-PP +a DT B-NP +reopening VBG I-NP +of IN B-PP +its PRP$ B-NP +four-year JJ I-NP +labor NN I-NP +contract NN I-NP +that WDT B-NP +is VBZ B-VP +due JJ B-ADJP +to TO B-VP +expire VB I-VP +Jan. NNP B-NP +31 CD I-NP +, , I-NP +1991 CD I-NP +. . O + +The DT B-NP +union NN I-NP +on IN B-PP +Oct. NNP B-NP +5 NN I-NP +requested VBD B-VP +that IN B-SBAR +the DT B-NP +contract NN I-NP +be VB B-VP +reopened VBN I-VP +to TO B-VP +restore VB I-VP +all DT B-NP +pay NN I-NP +and CC I-NP +benefits NNS I-NP +that IN B-NP +the DT B-NP +union NN I-NP +gave VBD B-VP +up IN B-PRT +in IN B-PP +the DT B-NP +1982-83 CD I-NP +and CC I-NP +1986-87 CD I-NP +rounds NNS I-NP +of IN B-PP +bargaining NN B-NP +. . O + +A DT B-NP +United NNP I-NP +Steelworkers NNPS I-NP +spokeman NN I-NP +said VBD B-VP +Lynn NNP B-NP +Williams NNP I-NP +, , O +the DT B-NP +union NN I-NP +'s POS B-NP +president NN I-NP +, , O +was VBD B-VP +out IN B-PP +of IN B-PP +town NN B-NP +. . O + +The DT B-NP +union NN I-NP +wo MD B-VP +n't RB I-VP +respond VB I-VP +to TO B-PP +the DT B-NP +USX NNP I-NP +statement NN I-NP +until IN B-SBAR +Mr. NNP B-NP +Williams NNP I-NP +has VBZ B-VP +studied VBN I-VP +it PRP B-NP +, , O +the DT B-NP +spokesman NN I-NP +said VBD B-VP +. . O + +Robert NNP B-NP +A. NNP I-NP +Oswald NNP I-NP +, , O +chief JJ B-NP +financial JJ I-NP +officer NN I-NP +and CC O +a DT B-NP +director NN I-NP +of IN B-PP +this DT B-NP +natural-gas NN I-NP +pipeline NN I-NP +company NN I-NP +, , O +was VBD B-VP +elected VBN I-VP +to TO B-PP +the DT B-NP +additional JJ I-NP +position NN I-NP +of IN B-PP +executive JJ B-NP +vice NN I-NP +president NN I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +Michael NNP B-NP +W. NNP I-NP +O'Donnell NNP I-NP +, , O +executive JJ B-NP +vice NN I-NP +president NN I-NP +of IN B-PP +a DT B-NP +Columbia NNP I-NP +unit NN I-NP +, , O +was VBD B-VP +named VBN I-VP +assistant NN B-NP +chief NN I-NP +financial JJ I-NP +officer NN I-NP +and CC O +a DT B-NP +senior JJ I-NP +vice NN I-NP +president NN I-NP +of IN B-PP +the DT B-NP +parent NN I-NP +company NN I-NP +. . O + +The DT B-NP +appointments NNS I-NP +take VBP B-VP +effect NN B-NP +Nov. NNP B-NP +1 CD I-NP +. . O + +Both DT B-NP +men NNS I-NP +are VBP B-VP +44 CD B-NP +years NNS I-NP +old JJ B-ADJP +. . O + +This DT B-NP +magazine NN I-NP +and CC I-NP +book NN I-NP +publisher NN I-NP +said VBD B-VP +three CD B-NP +men NNS I-NP +were VBD B-VP +elected VBN I-VP +directors NNS B-NP +, , O +increasing VBG B-VP +the DT B-NP +board NN I-NP +to TO B-PP +10 CD B-NP +. . O + +They PRP B-NP +are VBP B-VP +: : O +James NNP B-NP +R. NNP I-NP +Eiszner NNP I-NP +, , O +62 CD B-NP +years NNS I-NP +old JJ B-ADJP +and CC O +chairman NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +CPC NNP B-NP +International NNP I-NP +Inc. NNP I-NP +; : O +Robert NNP B-NP +G. NNP I-NP +Schwartz NNP I-NP +, , O +61 CD B-NP +, , O +chairman NN B-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +Metropolitan NNP B-NP +Life NNP I-NP +Insurance NNP I-NP +Co. NNP I-NP +, , O +and CC O +Walter NNP B-NP +V. NNP I-NP +Shipley NNP I-NP +, , O +53 CD B-NP +, , O +chairman NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +Chemical NNP B-NP +Banking NNP I-NP +Corp NNP I-NP +. . O + +BankAmerica NNP B-NP +Corp. NNP I-NP +reported VBD B-VP +a DT B-NP +34 CD I-NP +% NN I-NP +jump NN I-NP +in IN B-PP +third-quarter JJ B-NP +earnings NNS I-NP +, , O +as IN B-SBAR +its PRP$ B-NP +rocket-like JJ I-NP +recovery NN I-NP +from IN B-PP +nearly RB B-NP +ruinous JJ I-NP +losses NNS I-NP +several JJ B-NP +years NNS I-NP +ago RB B-ADVP +continued VBD B-VP +to TO I-VP +be VB I-VP +fueled VBN I-VP +by IN B-PP +growth NN B-NP +in IN B-PP +consumer NN B-NP +loans NNS I-NP +, , O +higher JJR B-NP +interest NN I-NP +margins NNS I-NP +and CC O +negligible JJ B-NP +loan NN I-NP +losses NNS I-NP +. . O + +For IN B-PP +the DT B-NP +quarter NN I-NP +, , O +BankAmerica NNP B-NP +said VBD B-VP +it PRP B-NP +earned VBD B-VP +$ $ B-NP +254 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.16 CD I-NP +a DT B-NP +share NN I-NP +, , O +compared VBN B-PP +with IN B-PP +$ $ B-NP +190 CD I-NP +million CD I-NP +, , O +or CC O +97 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +BankAmerica NNP B-NP +spokesmen NNS I-NP +said VBD B-VP +preliminary JJ B-NP +reports NNS I-NP +indicate VBP B-VP +the DT B-NP +company NN I-NP +was VBD B-VP +n't RB I-VP +materially RB I-VP +affected VBN I-VP +by IN B-PP +the DT B-NP +Tuesday NNP I-NP +earthquake NN I-NP +. . O + +All DT B-NP +but CC I-NP +eight CD I-NP +of IN B-PP +the DT B-NP +850 CD I-NP +branches NNS I-NP +, , O +which WDT B-NP +had VBD B-VP +some DT B-NP +structural JJ I-NP +damage NN I-NP +, , O +reopened VBD B-VP +yesterday NN B-NP +for IN B-PP +business NN B-NP +. . O + +Automated NNP B-NP +teller NN I-NP +machine NN I-NP +operations NNS I-NP +also RB B-ADVP +were VBD B-VP +up IN B-ADVP +and CC O +operating VBG B-VP +yesterday NN B-NP +, , O +a DT B-NP +bank NN I-NP +spokesman NN I-NP +said VBD B-VP +. . O + +For IN B-PP +the DT B-NP +first JJ I-NP +time NN I-NP +in IN B-PP +nearly RB B-NP +two CD I-NP +years NNS I-NP +, , O +BankAmerica NNP B-NP +results NNS I-NP +failed VBD B-VP +to TO I-VP +improve VB I-VP +in IN B-PP +consecutive JJ B-NP +quarters NNS I-NP +, , O +but CC O +the DT B-NP +decline NN I-NP +from IN B-PP +the DT B-NP +second JJ I-NP +quarter NN I-NP +was VBD B-VP +attributable JJ B-ADJP +to TO B-PP +special JJ B-NP +factors NNS I-NP +. . O + +Third-quarter JJ B-NP +profit NN I-NP +was VBD B-VP +16 CD B-NP +% NN I-NP +below IN B-PP +the DT B-NP +$ $ I-NP +304 CD I-NP +million CD I-NP +, , I-NP +or CC I-NP +$ $ I-NP +1.50 CD I-NP +a DT B-NP +share NN I-NP +, , O +earned VBD B-VP +in IN B-PP +the DT B-NP +1989 CD I-NP +second JJ I-NP +quarter NN I-NP +. . O + +The DT B-NP +company NN I-NP +cited VBD B-VP +higher JJR B-NP +tax NN I-NP +credits NNS I-NP +in IN B-PP +the DT B-NP +second JJ I-NP +quarter NN I-NP +, , O +totaling VBG B-VP +$ $ B-NP +63 CD I-NP +million CD I-NP +, , O +compared VBN B-PP +with IN B-PP +$ $ B-NP +28 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +. . O + +Excluding VBG B-PP +tax NN B-NP +credits NNS I-NP +, , O +profit NN B-NP +was VBD B-VP +6 CD B-NP +% NN I-NP +below IN B-PP +the DT B-NP +second JJ I-NP +quarter NN I-NP +. . O + +But CC O +that DT B-NP +drop NN I-NP +was VBD B-VP +caused VBN I-VP +entirely RB B-ADVP +by IN B-PP +a DT B-NP +decline NN I-NP +in IN B-PP +Brazilian JJ B-NP +interest NN I-NP +paid VBN B-VP +, , O +to TO B-PP +$ $ B-NP +5 NN I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +54 CD I-NP +million CD I-NP +the DT B-NP +second JJ I-NP +quarter NN I-NP +. . O + +Moreover RB B-ADVP +, , O +BankAmerica NNP B-NP +continued VBD B-VP +to TO I-VP +build VB I-VP +its PRP$ B-NP +reserve NN I-NP +against IN B-PP +troubled JJ B-NP +foreign JJ I-NP +loans NNS I-NP +by IN B-PP +boosting VBG B-VP +its PRP$ B-NP +loan-loss NN I-NP +provision NN I-NP +to TO B-PP +$ $ B-NP +170 CD I-NP +million CD I-NP +, , O +about IN B-NP +the DT I-NP +same JJ I-NP +as IN B-PP +the DT B-NP +previous JJ I-NP +quarter NN I-NP +but CC O +well RB B-PP +above IN I-PP +the DT B-NP +$ $ I-NP +100 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +year-earlier JJ I-NP +quarter NN I-NP +. . O + +The DT B-NP +provision NN I-NP +rate NN I-NP +was VBD B-VP +far RB B-PP +above IN I-PP +BankAmerica NNP B-NP +'s POS B-NP +actual JJ I-NP +net JJ I-NP +credit NN I-NP +losses NNS I-NP +of IN B-PP +$ $ B-NP +24 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +, , O +compared VBN B-PP +with IN B-PP +$ $ B-NP +18 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +second JJ I-NP +period NN I-NP +and CC O +$ $ B-NP +38 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +As IN B-PP +a DT B-NP +result NN I-NP +, , O +BankAmerica NNP B-NP +said VBD B-VP +its PRP$ B-NP +reserve NN I-NP +against IN B-PP +troubled JJ B-NP +foreign-country JJ I-NP +loans NNS I-NP +, , O +once RB B-PP +below IN I-PP +25 CD B-NP +% NN I-NP +, , O +now RB B-ADVP +amounts VBZ B-VP +to TO B-PP +45 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +$ $ I-NP +6.4 CD I-NP +billion CD I-NP +of IN B-PP +non-trade JJ B-NP +debt NN I-NP +it PRP B-NP +calculates VBZ B-VP +it PRP B-NP +is VBZ B-VP +owed VBN I-VP +by IN B-PP +those DT B-NP +nations NNS I-NP +. . O + +That DT B-NP +level NN I-NP +is VBZ B-VP +about IN B-NP +the DT I-NP +same JJ I-NP +as IN B-PP +some DT B-NP +other JJ I-NP +big JJ I-NP +banks NNS I-NP +, , O +but CC O +far RB B-PP +below IN I-PP +the DT B-NP +85 CD I-NP +% NN I-NP +and CC I-NP +100 CD I-NP +% NN I-NP +reserves NNS I-NP +of IN B-PP +Bankers NNP B-NP +Trust NNP I-NP +New NNP I-NP +York NNP I-NP +Corp. NNP I-NP +and CC O +J.P. NNP B-NP +Morgan NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +respectively RB B-ADVP +. . O + +By IN B-PP +any DT B-NP +measure NN I-NP +, , O +third-quarter JJ B-NP +earnings NNS I-NP +were VBD B-VP +still RB B-ADVP +robust JJ B-ADJP +, , O +equivalent NN B-ADJP +to TO B-PP +a DT B-NP +0.92 CD I-NP +% NN I-NP +return NN I-NP +on IN B-PP +assets NNS B-NP +even RB B-VP +excluding VBG I-VP +tax NN B-NP +credits NNS I-NP +. . O + +By IN B-PP +that DT B-NP +key JJ I-NP +measure NN I-NP +of IN B-PP +operating VBG B-NP +efficiency NN I-NP +, , O +BankAmerica NNP B-NP +turned VBD B-VP +in IN B-PRT +a DT B-NP +better JJR I-NP +performance NN I-NP +than IN B-PP +its PRP$ B-NP +well-regarded JJ I-NP +Los NNP I-NP +Angeles-based JJ I-NP +competitor NN I-NP +, , O +Security NNP B-NP +Pacific NNP I-NP +Corp. NNP I-NP +, , O +which WDT B-NP +posted VBD B-VP +a DT B-NP +0.89 CD I-NP +% NN I-NP +return NN I-NP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +. . O + +But CC O +it PRP B-NP +continued VBD B-VP +to TO I-VP +badly RB I-VP +trail VBP I-VP +its PRP$ B-NP +San NNP I-NP +Francisco NNP I-NP +neighbor NN I-NP +, , O +Wells NNP B-NP +Fargo NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +which WDT B-NP +reported VBD B-VP +an DT B-NP +extraordinary JJ I-NP +1.25 CD I-NP +% NN I-NP +return NN I-NP +on IN B-PP +assets NNS B-NP +. . O + +Both DT B-NP +returns NNS I-NP +do VBP B-VP +n't RB I-VP +include VB I-VP +any DT B-NP +tax NN I-NP +credits NNS I-NP +. . O + +`` `` O +They PRP B-NP +-LCB- ( O +BankAmerica NNP B-NP +-RCB- ) O +continue VB B-VP +to TO I-VP +show VB I-VP +good JJ B-NP +performance NN I-NP +, , O +'' '' O +said VBD B-VP +Donald NNP B-NP +K. NNP I-NP +Crowley NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +with IN B-PP +Keefe NNP B-NP +, , I-NP +Bruyette NNP I-NP +& CC I-NP +Woods NNP I-NP +Inc. NNP I-NP +, , O +San NNP B-NP +Francisco NNP I-NP +. . O + +In IN B-PP +composite JJ B-NP +trading NN I-NP +yesterday NN B-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +, , O +BankAmerica NNP B-NP +common JJ I-NP +stock NN I-NP +edged VBD B-VP +up IN B-ADVP +12.5 CD B-NP +cents NNS I-NP +to TO B-VP +close VB I-VP +at IN B-PP +$ $ B-NP +32 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Shareholder NN B-NP +equity NN I-NP +improved VBN B-VP +to TO B-PP +4.68 CD B-NP +% NN I-NP +from IN B-PP +4.23 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +previous JJ I-NP +quarter NN I-NP +. . O + +The DT B-NP +4.52 CD I-NP +% NN I-NP +net JJ I-NP +interest NN I-NP +margin NN I-NP +, , O +or CC O +the DT B-NP +difference NN I-NP +between IN B-PP +the DT B-NP +yield NN I-NP +on IN B-PP +a DT B-NP +bank NN I-NP +'s POS B-NP +investments NNS I-NP +and CC O +the DT B-NP +rate NN I-NP +it PRP B-NP +pays VBZ B-VP +for IN B-PP +deposits NNS B-NP +and CC O +other JJ B-NP +borrowings NNS I-NP +, , O +was VBD B-VP +still RB B-ADVP +markedly RB B-ADJP +higher JJR I-ADJP +than IN B-PP +the DT B-NP +3.91 CD I-NP +% NN I-NP +ratio NN I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +, , O +and CC O +is VBZ B-VP +among IN B-PP +the DT B-NP +best JJS I-NP +in IN B-PP +the DT B-NP +industry NN I-NP +, , O +analysts NNS B-NP +said VBD B-VP +. . O + +The DT B-NP +high JJ I-NP +margin NN I-NP +partly RB B-VP +stems VBZ I-VP +from IN B-PP +continued VBN B-NP +strong JJ I-NP +growth NN I-NP +in IN B-PP +high-yielding JJ B-NP +consumer NN I-NP +loans NNS I-NP +, , O +which WDT B-NP +jumped VBD B-VP +31 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +17.47 CD I-NP +billion CD I-NP +from IN B-PP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +, , O +and CC O +residential JJ B-NP +mortgages NNS I-NP +, , O +which WDT B-NP +rose VBD B-VP +25 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +12 CD I-NP +billion CD I-NP +. . O + +BankAmerica NNP B-NP +'s POS B-NP +total JJ I-NP +loans NNS I-NP +rose VBD B-VP +8 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +71.36 CD I-NP +billion CD I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +BankAmerica NNP B-NP +profit NN I-NP +soared VBD B-VP +81 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +833 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +4.07 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +461 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +2.40 CD I-NP +a DT B-NP +share NN I-NP +. . O + +International NNP B-NP +Business NNP I-NP +Machines NNP I-NP +Corp. NNP I-NP +will MD B-VP +announce VB I-VP +on IN B-PP +Tuesday NNP B-NP +a DT B-NP +slew NN I-NP +of IN B-PP +software NN B-NP +products NNS I-NP +aimed VBN B-VP +at IN B-PP +eliminating VBG B-VP +some DT B-NP +of IN B-PP +the DT B-NP +major JJ I-NP +problems NNS I-NP +involved VBN B-ADJP +in IN B-PP +computerizing VBG B-VP +manufacturing NN B-NP +operations NNS I-NP +, , O +industry NN B-NP +executives NNS I-NP +said VBD B-VP +. . O + +Many JJ B-NP +plant NN I-NP +floors NNS I-NP +currently RB B-ADVP +resemble VBP B-VP +a DT B-NP +Tower NNP I-NP +of IN B-PP +Babel NNP B-NP +, , O +with IN B-PP +computers NNS B-NP +, , O +robots NNS B-NP +and CC O +machine NN B-NP +tools NNS I-NP +that WDT B-NP +generally RB B-ADVP +speak VB B-VP +their PRP$ B-NP +own JJ I-NP +language NN I-NP +and CC O +have VBP B-VP +trouble NN B-NP +talking VBG B-VP +to TO B-PP +each DT B-NP +other NN I-NP +. . O + +As IN B-PP +a DT B-NP +result NN I-NP +, , O +if IN B-SBAR +a DT B-NP +problem NN I-NP +develops VBZ B-VP +on IN B-PP +a DT B-NP +production NN I-NP +line NN I-NP +, , O +it PRP B-NP +is VBZ B-VP +unlikely JJ B-ADJP +some DT B-NP +supervisor NN I-NP +sitting VBG B-VP +in IN B-PP +front NN B-NP +of IN B-PP +a DT B-NP +personal JJ I-NP +computer NN I-NP +or CC I-NP +workstation NN I-NP +will MD B-VP +know VB I-VP +about IN B-PP +it PRP B-NP +or CC O +be VB B-VP +able JJ B-ADJP +to TO B-VP +correct VB I-VP +it PRP B-NP +. . O + +So RB O +IBM NNP B-NP +will MD B-VP +be VB I-VP +announcing VBG I-VP +more JJR B-NP +than IN I-NP +50 CD I-NP +products NNS I-NP +that WDT B-NP +will MD B-VP +be VB I-VP +aimed VBN I-VP +at IN B-PP +letting VBG B-VP +even RB B-NP +the DT I-NP +dumbest JJS I-NP +machine NN I-NP +tool NN I-NP +talk NN B-VP +to TO B-PP +the DT B-NP +smartest JJS I-NP +mainframe NN I-NP +, , O +or CC O +anything NN B-NP +in IN B-PP +between RB B-PP +. . O + +In IN B-PP +an DT B-NP +unusual JJ I-NP +display NN I-NP +of IN B-PP +openness NN B-NP +, , O +IBM NNP B-NP +also RB B-ADVP +will MD B-VP +be VB I-VP +helping VBG I-VP +customers NNS B-NP +tie VBP B-VP +together RB B-ADVP +operations NNS B-NP +that WDT B-NP +include VBP B-VP +lots NNS B-NP +of IN B-PP +equipment NN B-NP +made VBN B-VP +by IN B-PP +IBM NNP B-NP +'s POS B-NP +competitors NNS I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +the DT B-NP +executives NNS I-NP +said VBD B-VP +IBM NNP B-NP +will MD B-VP +be VB I-VP +offering NN I-VP +programming NN B-NP +tools NNS I-NP +designed VBN B-VP +to TO I-VP +let VB I-VP +anyone NN B-NP +working VBG B-VP +on IN B-PP +a DT B-NP +factory NN I-NP +floor NN I-NP +write VB B-VP +ad-hoc JJ B-NP +software NN I-NP +, , O +for IN B-PP +instance NN B-NP +, , O +to TO B-VP +do VB I-VP +statistical JJ B-NP +analysis NN I-NP +that WDT B-NP +would MD B-VP +pinpoint VB I-VP +a DT B-NP +problem NN I-NP +on IN B-PP +a DT B-NP +manufacturing NN I-NP +line NN I-NP +. . O + +In IN B-PP +Armonk NNP B-NP +, , O +N.Y. NNP B-NP +, , O +an DT B-NP +IBM NNP I-NP +spokeswoman NN I-NP +confirmed VBD B-VP +that IN B-SBAR +IBM NNP B-NP +executives NNS I-NP +will MD B-VP +be VB I-VP +announcing VBG I-VP +some DT B-NP +computer-integrated-manufacturing JJ I-NP +plans NNS I-NP +next JJ B-NP +week NN I-NP +but CC O +declined VBD B-VP +to TO I-VP +elaborate VB I-VP +. . O + +The DT B-NP +industry NN I-NP +executives NNS I-NP +said VBD B-VP +that IN B-SBAR +, , O +as IN B-PP +usual JJ B-ADJP +with IN B-PP +such JJ B-NP +broad JJ I-NP +announcements NNS I-NP +from IN B-PP +IBM NNP B-NP +, , O +this DT B-NP +one PRP I-NP +will MD B-VP +be VB I-VP +part NN B-NP +reality NN I-NP +and CC O +part NN B-NP +strategy NN I-NP +. . O + +So RB O +it PRP B-NP +will MD B-VP +take VB I-VP +many JJ B-NP +quarters NNS I-NP +for IN B-SBAR +IBM NNP B-NP +to TO B-VP +roll VB I-VP +out IN B-PRT +all PDT B-NP +the DT I-NP +products NNS I-NP +that IN B-NP +customers NNS B-NP +need VBP B-VP +, , O +and CC O +it PRP B-NP +will MD B-VP +take VB I-VP +years NNS B-NP +for IN B-SBAR +customers NNS B-NP +to TO B-VP +integrate VB I-VP +the DT B-NP +products NNS I-NP +into IN B-PP +their PRP$ B-NP +operations NNS I-NP +. . O + +Also RB B-ADVP +as IN B-PP +usual JJ B-ADJP +, , O +the DT B-NP +products NNS I-NP +will MD B-VP +appeal VB I-VP +mostly RB B-ADVP +to TO B-PP +heavy JJ B-NP +users NNS I-NP +of IN B-PP +IBM NNP B-NP +equipment NN I-NP +, , O +at IN B-ADVP +least JJS I-ADVP +initially RB B-ADVP +. . O + +Still RB B-ADVP +, , O +consultants NNS B-NP +and CC O +industry NN B-NP +executives NNS I-NP +said VBD B-VP +the DT B-NP +products NNS I-NP +could MD B-VP +help VB I-VP +make VB I-VP +manufacturing NN B-NP +operations NNS I-NP +more RBR B-ADJP +efficient JJ I-ADJP +, , O +and CC O +provide VB B-VP +a DT B-NP +boost NN I-NP +to TO B-PP +the DT B-NP +computer-integrated-manufacturing JJ I-NP +market NN I-NP +-- : O +a DT B-NP +market NN I-NP +that IN B-NP +Yankee NNP B-NP +Group NNP I-NP +, , O +a DT B-NP +research NN I-NP +firm NN I-NP +, , O +has VBZ B-VP +said VBD I-VP +may MD B-VP +double VB I-VP +to TO B-PP +$ $ B-NP +40 CD I-NP +billion CD I-NP +by IN B-PP +1993 CD B-NP +. . O + +`` `` O +This DT B-NP +is VBZ B-VP +a DT B-NP +step NN I-NP +in IN B-PP +the DT B-NP +right JJ I-NP +direction NN I-NP +, , O +'' '' O +said VBD B-VP +Martin NNP B-NP +Piszczalski NNP I-NP +, , O +a DT B-NP +Yankee NNP I-NP +Group NNP I-NP +analyst NN I-NP +. . O + +He PRP B-NP +added VBD B-VP +, , O +though RB B-ADVP +, , O +that IN B-SBAR +`` `` O +a DT B-NP +lot NN I-NP +of IN B-PP +this DT B-NP +is VBZ B-VP +intentions NNS B-NP +... : O +. . O + +We PRP B-NP +'ll MD B-VP +have VB I-VP +to TO I-VP +wait VB I-VP +and CC O +see VB B-VP +'' '' O +how WRB B-ADVP +the DT B-NP +plan NN I-NP +develops VBZ B-VP +. . O + +The DT B-NP +announcements NNS I-NP +also RB B-ADVP +should MD B-VP +help VB I-VP +IBM NNP B-NP +go VB B-VP +on IN B-PP +the DT B-NP +offensive NN I-NP +against IN B-PP +Digital NNP B-NP +Equipment NNP I-NP +Corp. NNP I-NP +on IN B-PP +the DT B-NP +plant NN I-NP +floor NN I-NP +. . O + +While IN B-SBAR +IBM NNP B-NP +has VBZ B-VP +traditionally RB I-VP +dominated VBN I-VP +the DT B-NP +market NN I-NP +for IN B-PP +computers NNS B-NP +on IN B-PP +the DT B-NP +business NN I-NP +side NN I-NP +of IN B-PP +manufacturing NN B-NP +operations NNS I-NP +and CC O +has VBZ B-VP +done VBN I-VP +well RB B-ADVP +in IN B-PP +the DT B-NP +market NN I-NP +for IN B-PP +design NN B-NP +tools NNS I-NP +, , O +Digital NNP B-NP +has VBZ B-VP +dominated VBN I-VP +computerized JJ B-NP +manufacturing NN I-NP +. . O + +Hewlett-Packard NNP B-NP +Co. NNP I-NP +also RB B-ADVP +has VBZ B-VP +begun VBN I-VP +to TO I-VP +gain VB I-VP +share NN B-NP +in IN B-PP +the DT B-NP +whole JJ I-NP +computer-integrated-manufacturing JJ I-NP +arena NN I-NP +. . O + +IBM NNP B-NP +will MD B-VP +face VB I-VP +an DT B-NP +uphill JJ I-NP +climb NN I-NP +against IN B-PP +Digital NNP B-NP +, , O +given VBN B-PP +Digital NNP B-NP +'s POS B-NP +reputation NN I-NP +for IN B-PP +being VBG B-VP +better JJR B-ADJP +than IN B-PP +IBM NNP B-NP +at IN B-PP +hooking VBG B-VP +together RB B-ADVP +different JJ B-NP +manufacturers NNS I-NP +' POS B-NP +computers NNS I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +Hewlett-Packard NNP B-NP +, , O +while IN B-SBAR +a DT B-NP +much RB I-NP +smaller JJR I-NP +player NN I-NP +, , O +has VBZ B-VP +made VBN I-VP +a DT B-NP +big JJ I-NP +commitment NN I-NP +to TO B-PP +the DT B-NP +sorts NNS I-NP +of IN B-PP +industry NN B-NP +standards NNS I-NP +that WDT B-NP +facilitate VBP B-VP +those DT B-NP +hookups NNS I-NP +and CC O +could MD B-VP +give VB I-VP +IBM NNP B-NP +some DT B-NP +problems NNS I-NP +. . O + +Both DT B-NP +can MD B-VP +be VB I-VP +expected VBN I-VP +to TO I-VP +go VB I-VP +after IN B-PP +the DT B-NP +market NN I-NP +aggressively RB B-ADVP +: : O +Gartner NNP B-NP +Group NNP I-NP +Inc. NNP I-NP +, , O +a DT B-NP +research NN I-NP +firm NN I-NP +, , O +estimated VBD B-VP +the DT B-NP +Digital NNP I-NP +gets VBZ B-VP +30 CD B-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +revenue NN I-NP +from IN B-PP +the DT B-NP +manufacturing NN I-NP +market NN I-NP +, , O +and CC O +Hewlett-Packard NNP B-NP +gets VBZ B-VP +50 CD B-NP +% NN I-NP +. . O + +IBM NNP B-NP +, , O +which WDT B-NP +Gartner NNP B-NP +Group NNP I-NP +said VBD B-VP +generates VBZ B-VP +22 CD B-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +revenue NN I-NP +in IN B-PP +this DT B-NP +market NN I-NP +, , O +should MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +take VB I-VP +advantage NN B-NP +of IN B-PP +its PRP$ B-NP +loyal JJ I-NP +following NN I-NP +among IN B-PP +buyers NNS B-NP +of IN B-PP +equipment NN B-NP +. . O + +That DT B-NP +is VBZ B-VP +because IN B-SBAR +many JJ B-NP +companies NNS I-NP +will MD B-VP +standardize VB I-VP +on IN B-PP +certain JJ B-NP +types NNS I-NP +of IN B-PP +equipment NN B-NP +as IN B-SBAR +the DT B-NP +various JJ I-NP +parts NNS I-NP +of IN B-PP +the DT B-NP +manufacturing NN I-NP +market NN I-NP +merge NN B-VP +, , O +and CC O +IBM NNP B-NP +is VBZ B-VP +the DT B-NP +biggest JJS I-NP +player NN I-NP +. . O + +But CC O +much NN B-NP +will MD B-VP +depend VB I-VP +on IN B-PP +how WRB B-ADVP +quickly RB I-ADVP +IBM NNP B-NP +can MD B-VP +move VB I-VP +. . O + +The DT B-NP +whole JJ I-NP +idea NN I-NP +of IN B-PP +computer-integrated JJ B-NP +manufacturing NN I-NP +, , O +CIM NNP B-NP +, , O +seems VBZ B-VP +to TO I-VP +be VB I-VP +making VBG I-VP +a DT B-NP +comeback NN I-NP +after IN B-PP +losing VBG B-VP +a DT B-NP +little JJ I-NP +luster NN I-NP +over IN B-PP +the DT B-NP +past JJ I-NP +couple NN I-NP +of IN B-PP +years NNS B-NP +when WRB B-ADVP +it PRP B-NP +became VBD B-VP +apparent JJ B-ADJP +that IN B-SBAR +it PRP B-NP +was VBD B-VP +n't RB O +a DT B-NP +panacea NN I-NP +that WDT B-NP +would MD B-VP +make VB I-VP +U.S. NNP B-NP +plants NNS I-NP +more RBR B-ADJP +efficient JJ I-ADJP +and CC O +banish VB B-VP +foreign JJ B-NP +competition NN I-NP +. . O + +Erik NNP B-NP +Keller NNP I-NP +, , O +a DT B-NP +Gartner NNP I-NP +Group NNP I-NP +analyst NN I-NP +, , O +said VBD B-VP +organizational JJ B-NP +changes NNS I-NP +may MD B-VP +still RB I-VP +be VB I-VP +required VBN I-VP +to TO B-VP +really RB I-VP +take VB I-VP +advantage NN B-NP +of IN B-PP +CIM NNP B-NP +'s POS B-NP +capabilities NNS I-NP +-- : O +someone NN B-NP +on IN B-PP +the DT B-NP +shop NN I-NP +floor NN I-NP +may MD B-VP +not RB I-VP +like IN I-VP +having VBG I-VP +someone NN B-NP +in IN B-PP +an DT B-NP +office NN I-NP +using VBG B-VP +a DT B-NP +personal JJ I-NP +computer NN I-NP +to TO B-VP +look VB I-VP +over IN B-PP +his PRP$ B-NP +shoulder NN I-NP +, , O +for IN B-PP +instance NN B-NP +, , O +and CC O +may MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +prevent VB I-VP +that IN B-NP +from IN B-PP +happening VBG B-NP +. . O + +But CC O +he PRP B-NP +said VBD B-VP +a DT B-NP +system NN I-NP +such JJ B-PP +as IN I-PP +IBM NNP B-NP +'s POS B-NP +should MD B-VP +help VB I-VP +significantly RB B-ADVP +. . O + +In IN B-PP +making VBG B-VP +polyethylene NN B-NP +sheets NNS I-NP +out IN B-ADVP +of IN B-PP +plastic NN B-NP +chips NNS I-NP +, , O +for IN B-PP +instance NN B-NP +, , O +a DT B-NP +chip NN I-NP +sometimes RB B-ADVP +does VBZ B-VP +n't RB I-VP +melt VB I-VP +, , O +gets VBZ B-VP +caught VBN I-VP +in IN B-PP +the DT B-NP +machinery NN I-NP +and CC O +creates VBZ B-VP +a DT B-NP +run NN I-NP +in IN B-PP +the DT B-NP +sheets NNS I-NP +. . O + +That DT B-NP +can MD B-VP +be VB I-VP +expensive JJ B-ADJP +, , O +because IN B-SBAR +the DT B-NP +problem NN I-NP +may MD B-VP +not RB I-VP +be VB I-VP +noticed VBN I-VP +for IN B-PP +a DT B-NP +while NN I-NP +, , O +and CC O +the DT B-NP +sheets NNS I-NP +are VBP B-VP +typically RB I-VP +thrown VBN I-VP +away RB B-ADVP +. . O + +But CC O +Mr. NNP B-NP +Keller NNP I-NP +said VBD B-VP +that IN B-SBAR +, , O +if IN B-SBAR +computers NNS B-NP +can MD B-VP +be VB I-VP +integrated VBN I-VP +into IN B-PP +the DT B-NP +process NN I-NP +, , O +they PRP B-NP +could MD B-VP +alert VB I-VP +an DT B-NP +operator NN I-NP +as RB B-ADVP +soon RB I-ADVP +as IN B-SBAR +the DT B-NP +problem NN I-NP +occurred VBD B-VP +. . O + +They PRP B-NP +could MD B-VP +also RB I-VP +check VB I-VP +through IN B-PP +the DT B-NP +orders NNS I-NP +on IN B-PP +file NN B-NP +to TO B-VP +find VB I-VP +a DT B-NP +customer NN I-NP +that WDT B-NP +was VBD B-VP +willing JJ B-ADJP +to TO B-VP +accept VB I-VP +a DT B-NP +lower JJR I-NP +grade NN I-NP +of IN B-PP +polyethylene NN B-NP +. . O + +The DT B-NP +computer NN I-NP +would MD B-VP +let VB I-VP +the DT B-NP +machine NN I-NP +run NN B-VP +just RB B-SBAR +until IN I-SBAR +that DT B-NP +order NN I-NP +was VBD B-VP +filled VBN I-VP +, , O +eliminating VBG B-VP +waste NN B-NP +. . O + +This DT B-NP +sort NN I-NP +of IN B-PP +improved VBN B-NP +link NN I-NP +figures NNS B-VP +to TO I-VP +eventually RB I-VP +become VB I-VP +a DT B-NP +significant JJ I-NP +weapon NN I-NP +for IN B-PP +some DT B-NP +companies NNS I-NP +. . O + +Companies NNS B-NP +might MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +tell VB I-VP +salespeople NN B-NP +daily JJ B-ADVP +, , O +for IN B-PP +instance NN B-NP +, , O +about IN B-PP +idle JJ B-NP +equipment NN I-NP +, , O +so IN B-SBAR +they PRP B-NP +could MD B-VP +offer VB I-VP +discounts NNS B-NP +on IN B-PP +whatever WDT B-NP +that DT B-NP +equipment NN I-NP +produces VBZ B-VP +. . O + +Salespeople NNS B-NP +also RB B-ADVP +could MD B-VP +get VB I-VP +a DT B-NP +precise JJ I-NP +reading NN I-NP +on IN B-PP +when WRB B-ADVP +products NNS B-NP +could MD B-VP +be VB I-VP +delivered VBN I-VP +-- : O +in IN B-PP +much JJ B-NP +the DT I-NP +same JJ I-NP +way NN I-NP +that IN B-ADVP +Federal NNP B-NP +Express NNP I-NP +has VBZ B-VP +marketed VBN I-VP +its PRP$ B-NP +ability NN I-NP +to TO B-VP +tell VB I-VP +exactly RB B-ADVP +where WRB I-ADVP +a DT B-NP +package NN I-NP +is VBZ B-VP +in IN B-PP +the DT B-NP +delivery NN I-NP +system NN I-NP +. . O + +Ford NNP B-NP +Motor NNP I-NP +Co. NNP I-NP +'s POS B-NP +Merkur NNP I-NP +, , O +the DT B-NP +company NN I-NP +'s POS B-NP +first JJ I-NP +new JJ I-NP +car NN I-NP +franchise NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +since IN B-SBAR +the DT B-NP +Edsel NNP I-NP +was VBD B-VP +unveiled VBN I-VP +in IN B-PP +1957 CD B-NP +, , O +now RB B-ADVP +will MD B-VP +share VB I-VP +Edsel NNP B-NP +'s POS B-NP +fate NN I-NP +. . O + +Ford NNP B-NP +said VBD B-VP +yesterday NN B-NP +it PRP B-NP +will MD B-VP +halt VB I-VP +imports NNS B-NP +of IN B-PP +the DT B-NP +Merkur NNP I-NP +Scorpio NNP I-NP +, , O +a DT B-NP +$ $ I-NP +28,000 CD I-NP +luxury NN I-NP +sedan NN I-NP +built VBN B-VP +by IN B-PP +Ford NNP B-NP +of IN B-PP +Europe NNP B-NP +in IN B-PP +West NNP B-NP +Germany NNP I-NP +. . O + +The DT B-NP +cars NNS I-NP +are VBP B-VP +sold VBN I-VP +under IN B-PP +a DT B-NP +separate JJ I-NP +franchise NN I-NP +with IN B-PP +its PRP$ B-NP +own JJ I-NP +sign NN I-NP +in IN B-PP +front NN B-NP +of IN B-PP +Lincoln-Mercury NNP B-NP +dealers NNS I-NP +-- : O +as IN B-SBAR +opposed VBN B-VP +to TO B-PP +new JJ B-NP +models NNS I-NP +such JJ B-PP +as IN I-PP +Taurus NNP B-NP +or CC I-NP +Escort NNP I-NP +, , O +which WDT B-NP +are VBP B-VP +sold VBN I-VP +under IN B-PP +existing VBG B-NP +Ford NNP I-NP +divisions NNS I-NP +. . O + +The DT B-NP +move NN I-NP +to TO B-VP +halt VB I-VP +imports NNS B-NP +-- : O +announced VBD B-VP +29 CD B-NP +years NNS I-NP +and CC O +11 CD B-NP +months NNS I-NP +to TO B-PP +the DT B-NP +day NN I-NP +after IN B-SBAR +Henry NNP B-NP +Ford NNP I-NP +II NNP I-NP +declared VBD B-VP +that IN B-SBAR +the DT B-NP +Edsel NNP I-NP +division NN I-NP +and CC O +its PRP$ B-NP +gawky JJ I-NP +car NN I-NP +would MD B-VP +be VB I-VP +scrapped VBN I-VP +-- : O +kills VBZ B-VP +the DT B-NP +four-year-old JJ I-NP +Merkur NNP I-NP +brand NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +market NN I-NP +. . O + +It PRP B-NP +will MD B-VP +continue VB I-VP +to TO I-VP +be VB I-VP +sold VBN I-VP +in IN B-PP +the DT B-NP +European JJ I-NP +market NN I-NP +. . O + +Merkur NNP B-NP +'s POS B-NP +death NN I-NP +is VBZ B-VP +n't RB O +nearly RB B-ADJP +as IN I-ADJP +costly JJ I-ADJP +to TO B-PP +Ford NNP B-NP +as IN B-SBAR +was VBD B-VP +the DT B-NP +Edsel NNP I-NP +debacle NN I-NP +, , O +because IN B-SBAR +Merkur NNP B-NP +was VBD B-VP +a DT B-NP +relatively RB I-NP +low-budget JJ I-NP +project NN I-NP +with IN B-PP +limited JJ B-NP +sales NNS I-NP +goals NNS I-NP +. . O + +Still RB B-ADVP +, , O +Merkur NNP B-NP +'s POS B-NP +demise NN I-NP +is VBZ B-VP +a DT B-NP +setback NN I-NP +for IN B-PP +Ford NNP B-NP +at IN B-PP +a DT B-NP +time NN I-NP +when WRB B-ADVP +the DT B-NP +company NN I-NP +'s POS B-NP +image NN I-NP +as IN B-PP +the DT B-NP +U.S. NNP I-NP +auto NN I-NP +maker NN I-NP +with IN B-PP +the DT B-NP +golden JJ I-NP +touch NN I-NP +is VBZ B-VP +showing VBG I-VP +signs NNS B-NP +of IN B-PP +strain NN B-NP +. . O + +The DT B-NP +No. NN I-NP +2 CD I-NP +auto NN I-NP +maker NN I-NP +'s POS B-NP +new JJ I-NP +Thunderbird NNP I-NP +and CC I-NP +Mercury NNP I-NP +Cougar NNP I-NP +models NNS I-NP +have VBP B-VP +n't RB I-VP +met VBN I-VP +sales NNS B-NP +expectations NNS I-NP +in IN B-PP +the DT B-NP +year NN I-NP +since IN B-SBAR +they PRP B-NP +were VBD B-VP +introduced VBN I-VP +, , O +and CC O +Ford NNP B-NP +'s POS B-NP +trucks NNS I-NP +are VBP B-VP +losing VBG I-VP +ground NN B-NP +to TO B-PP +their PRP$ B-NP +GM NNP I-NP +rivals NNS I-NP +. . O + +This DT B-NP +fall NN I-NP +, , O +Ford NNP B-NP +introduced VBD B-VP +only RB B-NP +one CD I-NP +new JJ I-NP +product NN I-NP +: : O +A DT B-NP +restyled VBN I-NP +version NN I-NP +of IN B-PP +its PRP$ B-NP +hulking JJ I-NP +Lincoln NNP I-NP +Town NNP I-NP +Car NNP I-NP +luxury NN I-NP +model NN I-NP +. . O + +The DT B-NP +demise NN I-NP +of IN B-PP +Merkur NNP B-NP +-LRB- ( O +pronounced VBN B-VP +mare-COOR NNP B-NP +-RRB- ) O +comes VBZ B-VP +after IN B-PP +a DT B-NP +September NNP I-NP +in IN B-PP +which WDT B-NP +670 CD B-NP +Merkur NNP I-NP +dealers NNS I-NP +managed VBD B-VP +to TO I-VP +sell VB I-VP +only RB B-NP +93 CD I-NP +Scorpios NNPS I-NP +. . O + +Total NNP B-NP +Merkur NNP I-NP +sales NNS I-NP +for IN B-PP +the DT B-NP +first JJ I-NP +nine CD I-NP +months NNS I-NP +dropped VBD B-VP +46 CD B-NP +% NN I-NP +from IN B-PP +a DT B-NP +year NN I-NP +ago RB B-ADVP +to TO B-PP +just RB B-NP +6,320 CD I-NP +cars NNS I-NP +. . O + +Merkur NNP B-NP +is VBZ B-VP +n't RB O +the DT B-NP +only RB I-NP +European JJ I-NP +luxury NN I-NP +brand NN I-NP +having VBG B-VP +problems NNS B-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +. . O + +The DT B-NP +Japanese JJ I-NP +assault NN I-NP +on IN B-PP +the DT B-NP +luxury NN I-NP +market NN I-NP +is VBZ B-VP +rapidly RB I-VP +overshadowing VBG I-VP +such JJ B-NP +European JJ I-NP +makes NNS I-NP +as IN B-PP +Audi NNP B-NP +and CC I-NP +Saab NNP I-NP +, , O +which WDT B-NP +at IN B-ADVP +least JJS I-ADVP +have VBP B-VP +clear JJ B-NP +brand NN I-NP +images NNS I-NP +. . O + +Merkur NNP B-NP +, , O +as IN B-PP +an DT B-NP +import NN I-NP +on IN B-PP +domestic JJ B-NP +car NN I-NP +lots NNS I-NP +, , O +suffered VBD B-VP +from IN B-PP +the DT B-NP +same JJ I-NP +sort NN I-NP +of IN B-PP +image NN B-NP +confusion NN I-NP +that WDT B-NP +is VBZ B-VP +hobbling VBG I-VP +sales NNS B-NP +of IN B-PP +imports NNS B-NP +at IN B-PP +General NNP B-NP +Motors NNPS I-NP +Corp. NNP I-NP +and CC O +Chrysler NNP B-NP +Corp NNP I-NP +. . O + +Merkur NNP B-NP +was VBD B-VP +originally RB I-VP +aimed VBN I-VP +at IN B-PP +enticing VBG B-VP +into IN B-PP +Lincoln-Mercury NNP B-NP +dealerships NNS I-NP +the DT B-NP +kind NN I-NP +of IN B-PP +young JJ B-NP +, , I-NP +affluent JJ I-NP +buyers NNS I-NP +who WP B-NP +would MD B-VP +n't RB I-VP +be VB I-VP +caught VBN I-VP +dead JJ B-ADJP +in IN B-PP +a DT B-NP +Town NNP I-NP +Car NNP I-NP +-- : O +a DT B-NP +vehicle NN I-NP +so RB B-ADJP +bargelike JJ I-ADJP +that IN B-SBAR +Ford NNP B-NP +is VBZ B-VP +staging VBG I-VP +a DT B-NP +press NN I-NP +event NN I-NP +next JJ B-NP +month NN I-NP +linking VBG B-VP +the DT B-NP +Town NNP I-NP +Car NNP I-NP +'s POS B-NP +launch NN I-NP +to TO B-PP +the DT B-NP +commissioning NN I-NP +of IN B-PP +a DT B-NP +new JJ I-NP +aircraft NN I-NP +carrier NN I-NP +in IN B-PP +Norfolk NNP B-NP +, , O +Va NNP B-NP +. . O + +But CC O +the DT B-NP +brand NN I-NP +had VBD B-VP +trouble NN B-NP +from IN B-PP +the DT B-NP +start NN I-NP +. . O + +The DT B-NP +first JJ I-NP +Merkur NNP I-NP +, , O +the DT B-NP +XR4Ti NNP I-NP +, , O +went VBD B-VP +on IN B-PP +sale NN B-NP +in IN B-PP +early JJ B-NP +1985 CD I-NP +. . O + +The DT B-NP +sporty JJ I-NP +coupe NN I-NP +foundered VBD B-VP +in IN B-PP +part NN B-NP +because IN B-SBAR +American JJ B-NP +buyers NNS I-NP +did VBD B-VP +n't RB I-VP +go VB I-VP +for IN B-PP +the DT B-NP +car NN I-NP +'s POS B-NP +unusual JJ I-NP +double-wing JJ I-NP +rear JJ I-NP +spoiler NN I-NP +. . O + +In IN B-PP +May NNP B-NP +1987 CD I-NP +, , O +Ford NNP B-NP +began VBD B-VP +importing VBG I-VP +the DT B-NP +Scorpio NNP I-NP +sedan NN I-NP +from IN B-PP +West NNP B-NP +Germany NNP I-NP +to TO B-VP +sell VB I-VP +next JJ B-ADVP +to TO B-PP +a DT B-NP +redesigned VBN I-NP +XR4Ti NNP I-NP +in IN B-PP +showrooms NNS B-NP +. . O + +Ford NNP B-NP +officials NNS I-NP +said VBD B-VP +they PRP B-NP +expected VBD B-VP +the DT B-NP +two CD I-NP +Merkurs NNPS I-NP +would MD B-VP +sell VB I-VP +about IN B-NP +15,000 CD I-NP +cars NNS I-NP +a DT B-NP +year NN I-NP +, , O +and CC O +in IN B-PP +1988 CD B-NP +they PRP B-NP +reached VBD B-VP +that DT B-NP +goal NN I-NP +, , O +as IN B-SBAR +sales NNS B-NP +hit VBD B-VP +15,261 CD B-NP +cars NNS I-NP +. . O + +It PRP B-NP +was VBD B-VP +downhill RB B-ADVP +from IN B-PP +there EX B-NP +, , O +however RB B-ADVP +. . O + +One CD B-NP +major JJ I-NP +factor NN I-NP +was VBD B-VP +the DT B-NP +decline NN I-NP +of IN B-PP +the DT B-NP +dollar NN I-NP +against IN B-PP +the DT B-NP +mark NN I-NP +, , O +which WDT B-NP +began VBD B-VP +less JJR B-NP +than IN I-NP +a DT I-NP +year NN I-NP +after IN B-PP +Merkur NNP B-NP +'s POS B-NP +1985 CD I-NP +launch NN I-NP +. . O + +As IN B-SBAR +the DT B-NP +West JJ I-NP +German JJ I-NP +currency NN I-NP +rose VBD B-VP +, , O +so RB B-ADVP +did VBD B-VP +Merkur NNP B-NP +prices NNS I-NP +. . O + +The DT B-NP +Merkur NNP I-NP +cars NNS I-NP +also RB B-ADVP +suffered VBD B-VP +from IN B-PP +spotty JJ B-NP +quality NN I-NP +, , O +some DT B-NP +dealers NNS I-NP +say VBP B-VP +. . O + +`` `` O +It PRP B-NP +was VBD B-VP +like IN B-PP +a DT B-NP +comedy NN I-NP +of IN B-PP +errors NNS B-NP +, , O +'' '' O +says VBZ B-VP +Martin NNP B-NP +J. NNP I-NP +`` `` I-NP +Hoot NNP I-NP +'' '' I-NP +McInerney NNP I-NP +, , O +a DT B-NP +big JJ I-NP +dealer NN I-NP +whose WP$ B-NP +Star NNP I-NP +Lincoln-Mercury-Merkur NNP I-NP +operation NN I-NP +in IN B-PP +Southfield NNP B-NP +, , O +Mich. NNP B-NP +, , O +sold VBN B-VP +more JJR B-NP +XR4Ti NNP I-NP +'s POS I-NP +than IN B-PP +any DT B-NP +other JJ I-NP +dealership NN I-NP +. . O + +But CC O +by IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +of IN B-PP +1988 CD B-NP +, , O +Scorpios NNPS B-NP +had VBD B-VP +a DT B-NP +high JJ I-NP +satisfaction NN I-NP +rating NN I-NP +in IN B-PP +internal JJ B-NP +Ford NNP I-NP +studies NNS I-NP +, , O +a DT B-NP +spokesman NN I-NP +said VBD B-VP +. . O + +Apparently RB B-ADVP +, , O +however RB B-ADVP +, , O +the DT B-NP +improvement NN I-NP +came VBD B-VP +too RB B-ADVP +late JJ I-ADVP +. . O + +Last JJ B-NP +fall NN I-NP +, , O +Ford NNP B-NP +announced VBD B-VP +it PRP B-NP +would MD B-VP +discontinue VB I-VP +the DT B-NP +XR4Ti NNP I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +at IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +1989 CD I-NP +model NN I-NP +year NN I-NP +. . O + +Ford NNP B-NP +said VBD B-VP +then RB B-ADVP +it PRP B-NP +would MD B-VP +keep VB I-VP +the DT B-NP +Scorpio NNP I-NP +. . O + +This DT B-NP +year NN I-NP +, , O +Scorpio NNP B-NP +sales NNS I-NP +plummeted VBD B-VP +, , O +and CC O +at IN B-PP +the DT B-NP +current JJ I-NP +sales NNS I-NP +pace NN I-NP +it PRP B-NP +would MD B-VP +take VB I-VP +Ford NNP B-NP +242 CD B-NP +days NNS I-NP +to TO B-VP +sell VB I-VP +off IN B-PRT +the DT B-NP +current JJ I-NP +Scorpio NNP I-NP +inventory NN I-NP +of IN B-PP +about IN B-NP +4,600 CD I-NP +cars NNS I-NP +. . O + +Canadian NNP B-NP +Pacific NNP I-NP +Ltd. NNP I-NP +said VBD B-VP +it PRP B-NP +proposed VBD B-VP +acquiring VBG I-VP +the DT B-NP +44 CD I-NP +% NN I-NP +of IN B-PP +Soo NNP B-NP +Line NNP I-NP +Corp. NNP I-NP +it PRP B-NP +does VBZ B-VP +n't RB I-VP +already RB I-VP +own JJ I-VP +for IN B-PP +$ $ B-NP +19.50 CD I-NP +a DT B-NP +share NN I-NP +, , O +or CC O +about RB B-NP +$ $ I-NP +81.9 CD I-NP +million CD I-NP +, , O +after IN B-PP +failing VBG B-VP +to TO I-VP +find VB I-VP +a DT B-NP +buyer NN I-NP +for IN B-PP +its PRP$ B-NP +majority NN I-NP +stake NN I-NP +earlier RBR B-NP +this DT I-NP +year NN I-NP +. . O + +Soo NNP B-NP +Line NNP I-NP +said VBD B-VP +its PRP$ B-NP +board NN I-NP +appointed VBD B-VP +a DT B-NP +special JJ I-NP +committee NN I-NP +of IN B-PP +independent JJ B-NP +directors NNS I-NP +to TO B-VP +study VB I-VP +the DT B-NP +proposal NN I-NP +. . O + +The DT B-NP +troubled JJ I-NP +Minneapolis-based JJ I-NP +railroad NN I-NP +concern NN I-NP +said VBD B-VP +the DT B-NP +committee NN I-NP +has VBZ B-VP +the DT B-NP +authority NN I-NP +to TO B-VP +hire VB I-VP +financial JJ B-NP +and CC I-NP +legal JJ I-NP +advisers NNS I-NP +to TO B-VP +assist VB I-VP +it PRP B-NP +. . O + +The DT B-NP +proposed VBN I-NP +acquisition NN I-NP +will MD B-VP +be VB I-VP +subject NN B-ADJP +to TO B-PP +approval NN B-NP +by IN B-PP +the DT B-NP +Interstate NNP I-NP +Commerce NNP I-NP +Commission NNP I-NP +, , O +Soo NNP B-NP +Line NNP I-NP +said VBD B-VP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +yesterday NN B-NP +, , O +Soo NNP B-NP +Line NNP I-NP +shares NNS I-NP +jumped VBD B-VP +well RB B-PP +above IN I-PP +the DT B-NP +proposed VBN I-NP +price NN I-NP +, , O +closing VBG B-VP +at IN B-PP +$ $ B-NP +20.25 CD I-NP +, , O +up IN B-ADVP +$ $ B-NP +2.75 CD I-NP +. . O + +Canadian NNP B-NP +Pacific NNP I-NP +put VB B-VP +its PRP$ B-NP +56 CD I-NP +% NN I-NP +stake NN I-NP +in IN B-PP +Soo NNP B-NP +Line NNP I-NP +up IN B-PP +for IN B-PP +sale NN B-NP +last JJ B-NP +year NN I-NP +but CC O +could MD B-VP +n't RB I-VP +find VB I-VP +any DT B-NP +takers NNS I-NP +. . O + +Canadian NNP B-NP +Pacific NNP I-NP +, , O +which WDT B-NP +has VBZ B-VP +interests NNS B-NP +in IN B-PP +transportation NN B-NP +, , O +telecommunications NNS B-NP +, , O +forest NN B-NP +products NNS I-NP +, , O +energy NN B-NP +and CC O +real JJ B-NP +estate NN I-NP +, , O +finally RB B-ADVP +took VBD B-VP +its PRP$ B-NP +majority NN I-NP +block NN I-NP +off IN B-PP +the DT B-NP +market NN I-NP +this DT B-NP +spring NN I-NP +. . O + +`` `` O +It PRP B-NP +turned VBD B-VP +out IN B-PRT +we PRP B-NP +could MD B-VP +n't RB I-VP +sell VB I-VP +it PRP B-NP +, , O +'' '' O +a DT B-NP +Canadian NNP I-NP +Pacific NNP I-NP +official NN I-NP +said VBD B-VP +, , O +adding VBG B-VP +that IN B-SBAR +acquiring VBG B-VP +the DT B-NP +remainder NN I-NP +of IN B-PP +Soo NNP B-NP +Line NNP I-NP +is VBZ B-VP +now RB B-ADVP +`` `` O +the DT B-NP +best JJS I-NP +way NN I-NP +to TO B-VP +rationalize VB I-VP +operations NNS B-NP +. . O +'' '' O + +Canadian NNP B-NP +Pacific NNP I-NP +is VBZ B-VP +Soo NNP B-NP +Line NNP I-NP +'s POS B-NP +biggest JJS I-NP +customer NN I-NP +and CC O +has VBZ B-VP +owned VBN I-VP +a DT B-NP +majority NN I-NP +stake NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +railroad NN I-NP +since IN B-PP +1947 CD B-NP +. . O + +Canadian NNP B-NP +Pacific NNP I-NP +and CC I-NP +Soo NNP I-NP +Line NNP I-NP +tracks VBZ I-NP +connect VB B-VP +at IN B-PP +two CD B-NP +points NNS I-NP +in IN B-PP +the DT B-NP +West NNP I-NP +on IN B-PP +the DT B-NP +Canada-U.S. NNP I-NP +border NN I-NP +and CC O +the DT B-NP +two CD I-NP +companies NNS I-NP +operate VBP B-VP +a DT B-NP +very RB I-NP +successful JJ I-NP +Chicago-Montreal NNP I-NP +rail NN I-NP +service NN I-NP +. . O + +Separately RB B-ADVP +, , O +for IN B-PP +the DT B-NP +first JJ I-NP +nine CD I-NP +months NNS I-NP +, , O +Soo NNP B-NP +Line NNP I-NP +reported VBD B-VP +a DT B-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +398,000 CD I-NP +, , O +or CC O +four CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +compared VBN B-PP +with IN B-PP +net JJ B-NP +income NN I-NP +of IN B-PP +$ $ B-NP +12.5 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.32 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Revenue NN B-NP +fell VBD B-VP +5.8 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +407.9 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +433.2 CD I-NP +million CD I-NP +. . O + +The DT B-NP +company NN I-NP +had VBD B-VP +a DT B-NP +loss NN I-NP +from IN B-PP +operations NNS B-NP +of IN B-PP +$ $ B-NP +1.7 CD I-NP +million CD I-NP +. . O + +Golden NNP B-NP +Nugget NNP I-NP +Inc. NNP I-NP +reported VBD B-VP +a DT B-NP +third-quarter JJ I-NP +net JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +13.1 CD I-NP +million CD I-NP +, , O +or CC O +76 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +based VBN B-PP +on IN B-PP +17.2 CD B-NP +million CD I-NP +common JJ I-NP +shares NNS I-NP +and CC I-NP +dilutive JJ I-NP +equivalents NNS I-NP +outstanding JJ I-NP +. . O + +The DT B-NP +results NNS I-NP +compare VBP B-VP +with IN B-PP +a DT B-NP +year-earlier JJ I-NP +net JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +1.5 CD I-NP +million CD I-NP +, , O +or CC O +seven CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +based VBN B-PP +on IN B-PP +20.3 CD B-NP +million CD I-NP +common JJ I-NP +and CC I-NP +dilutive JJ I-NP +equivalents NNS I-NP +outstanding JJ I-NP +. . O + +Operating NN B-NP +revenue NN I-NP +rose VBD B-VP +25 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +52.1 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +41.8 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Results NNS B-NP +for IN B-PP +the DT B-NP +latest JJS I-NP +quarter NN I-NP +include VBP B-VP +nonoperating VBG B-NP +items NNS I-NP +of IN B-PP +$ $ B-NP +23.9 CD I-NP +million CD I-NP +, , O +versus IN O +$ $ B-NP +8.4 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Most JJS B-NP +of IN B-PP +the DT B-NP +expenses NNS I-NP +stem VBP B-VP +from IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +huge JJ I-NP +Mirage NNP I-NP +resort-casino NN I-NP +scheduled VBN B-VP +to TO I-VP +open VB I-VP +next JJ B-NP +month NN I-NP +along IN B-PP +the DT B-NP +Strip NNP I-NP +, , O +and CC O +an DT B-NP +April NNP I-NP +1989 CD I-NP +financing NN I-NP +by IN B-PP +units NNS B-NP +operating VBG B-VP +the DT B-NP +downtown NN I-NP +Golden NNP I-NP +Nugget NNP I-NP +property NN I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +Golden NNP B-NP +Nugget NNP I-NP +reported VBD B-VP +a DT B-NP +net JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +11.4 CD I-NP +million CD I-NP +, , O +or CC O +69 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +based VBN B-PP +on IN B-PP +16.6 CD B-NP +million CD I-NP +common JJ I-NP +and CC I-NP +dilutive JJ I-NP +equivalents NNS I-NP +outstanding JJ I-NP +. . O + +The DT B-NP +year NN I-NP +earlier RBR B-ADVP +, , O +the DT B-NP +company NN I-NP +had VBD B-VP +a DT B-NP +net JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +4.3 CD I-NP +million CD I-NP +, , O +or CC O +20 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +based VBN B-PP +on IN B-PP +21 CD B-NP +million CD I-NP +common JJ I-NP +shares NNS I-NP +and CC I-NP +dilutive JJ I-NP +equivalents NNS I-NP +outstanding JJ I-NP +. . O + +The DT B-NP +1988 CD I-NP +results NNS I-NP +include VBP B-VP +a DT B-NP +$ $ I-NP +10.7 CD I-NP +million CD I-NP +charge NN I-NP +stemming VBG B-VP +from IN B-PP +a DT B-NP +litigation NN I-NP +judgment NN I-NP +. . O + +Separately RB B-ADVP +, , O +the DT B-NP +casino NN I-NP +operator NN I-NP +said VBD B-VP +its PRP$ B-NP +board NN I-NP +approved VBD B-VP +a DT B-NP +plan NN I-NP +to TO B-VP +buy-back VB I-VP +as RB B-NP +many JJ I-NP +as IN I-NP +three CD I-NP +million CD I-NP +common JJ I-NP +shares NNS I-NP +from IN B-PP +time NN B-NP +to TO B-PP +time VB B-NP +, , O +either DT O +in NN B-PP +the DT B-NP +open JJ I-NP +market NN I-NP +or CC B-PP +through IN B-PP +private JJ B-NP +transactions NNS I-NP +. . O + +An DT B-NP +additional JJ I-NP +299,000 CD I-NP +shares NNS I-NP +are VBP B-VP +authorized VBN I-VP +for IN B-PP +repurchase NN B-NP +under IN B-PP +an DT B-NP +earlier JJR I-NP +stock NN I-NP +buy-back NN I-NP +program NN I-NP +. . O + +John NNP B-NP +Uphoff NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +with IN B-PP +Raymond NNP B-NP +James NNP I-NP +& CC I-NP +Associates NNPS I-NP +, , O +said VBD B-VP +the DT B-NP +results NNS I-NP +were VBD B-VP +n't RB O +surprising JJ B-ADJP +, , O +and CC O +attributed VBD B-VP +the DT B-NP +buy-back NN I-NP +to TO B-PP +management NN B-NP +'s POS B-NP +confidence NN I-NP +in IN B-PP +the DT B-NP +Mirage NNP I-NP +'s POS B-NP +ability NN I-NP +to TO B-VP +generate VB I-VP +strong JJ B-NP +cash NN I-NP +flow NN I-NP +in IN B-PP +1990 CD B-NP +. . O + +Yesterday NN B-NP +, , O +in IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +, , O +Golden NNP B-NP +Nugget NNP I-NP +common NN I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +28.25 CD I-NP +, , O +up IN B-ADVP +$ $ B-NP +2 CD I-NP +. . O + +Capital NNP B-NP +Holding NNP I-NP +Corp. NNP I-NP +said VBD B-VP +it PRP B-NP +requested VBD B-VP +and CC I-VP +received VBD I-VP +the DT B-NP +resignation NN I-NP +of IN B-PP +John NNP B-NP +A. NNP I-NP +Franco NNP I-NP +, , O +its PRP$ B-NP +vice NN I-NP +chairman NN I-NP +, , O +as IN B-PP +an DT B-NP +officer NN I-NP +and CC O +a DT B-NP +director NN I-NP +of IN B-PP +the DT B-NP +life NN I-NP +insurance NN I-NP +holding VBG I-NP +company NN I-NP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +Mr. NNP B-NP +Franco NNP I-NP +developed VBD B-VP +a DT B-NP +plan NN I-NP +to TO B-VP +establish VB I-VP +a DT B-NP +business NN I-NP +that WDT B-NP +might MD B-VP +be VB I-VP +competitive JJ B-ADJP +with IN B-PP +Capital NNP B-NP +Holding NNP I-NP +Corp. NNP I-NP +'s POS B-NP +Accumulation NNP I-NP +and CC I-NP +Investment NNP I-NP +Group NNP I-NP +, , O +which WDT B-NP +Mr. NNP B-NP +Franco NNP I-NP +headed VBD B-VP +. . O + +The DT B-NP +group NN I-NP +temporarily RB B-ADVP +will MD B-VP +report VB I-VP +to TO B-PP +Irving NNP B-NP +W. NNP I-NP +Bailey NNP I-NP +II NNP I-NP +, , O +chairman NN B-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +Capital NNP B-NP +Holding NNP I-NP +. . O + +Mr. NNP B-NP +Franco NNP I-NP +, , O +47 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +said VBD B-VP +in IN B-PP +a DT B-NP +telephone NN I-NP +interview NN I-NP +that IN B-SBAR +he PRP B-NP +has VBZ B-VP +been VBN I-VP +considering VBG I-VP +and CC I-VP +discussing VBG I-VP +a DT B-NP +number NN I-NP +of IN B-PP +possible JJ B-NP +business NN I-NP +ventures NNS I-NP +, , O +but CC O +that IN B-SBAR +`` `` O +nothing NN B-NP +is VBZ B-VP +at IN B-PP +a DT B-NP +mature JJ I-NP +stage NN I-NP +. . O +'' '' O + +He PRP B-NP +said VBD B-VP +he PRP B-NP +`` `` O +did VBD B-VP +n't RB I-VP +argue VB I-VP +with IN B-PP +'' '' O +the DT B-NP +company NN I-NP +'s POS B-NP +decision NN I-NP +to TO B-VP +seek VB I-VP +his PRP$ B-NP +resignation NN I-NP +because IN B-SBAR +contemplating VBG B-VP +outside IN B-NP +business NN I-NP +ventures NNS I-NP +can MD B-VP +distract VB I-VP +an DT B-NP +executive NN I-NP +from IN B-PP +performing VBG B-VP +his PRP$ B-NP +best JJS I-NP +`` `` O +at IN B-PP +the DT B-NP +job NN I-NP +he PRP B-NP +is VBZ B-VP +paid VBN I-VP +to TO I-VP +do VB I-VP +. . O +'' '' O + +Martin NNP B-NP +H. NNP I-NP +Ruby NNP I-NP +, , O +a DT B-NP +managing VBG I-NP +director NN I-NP +of IN B-PP +Capital NNP B-NP +Holding NNP I-NP +'s POS B-NP +Accumulation NNP I-NP +and CC I-NP +Investment NNP I-NP +Group NNP I-NP +, , O +also RB B-ADVP +resigned VBD B-VP +to TO B-VP +pursue VB I-VP +other JJ B-NP +business NN I-NP +interests NNS I-NP +, , O +Capital NNP B-NP +Holding NNP I-NP +said VBD B-VP +. . O + +Mr. NNP B-NP +Ruby NNP I-NP +, , O +39 CD B-NP +, , O +said VBD B-VP +that IN B-SBAR +he PRP B-NP +had VBD B-VP +`` `` O +an DT B-NP +amicable JJ I-NP +parting NN I-NP +'' '' O +with IN B-PP +Capital NNP B-NP +Holding NNP I-NP +and CC O +that IN B-SBAR +he PRP B-NP +has VBZ B-VP +`` `` O +a DT B-NP +number NN I-NP +of IN B-PP +ventures NNS B-NP +in IN B-PP +the DT B-NP +financial-services NNS I-NP +area NN I-NP +'' '' O +under IN B-PP +consideration NN B-NP +. . O + +He PRP B-NP +said VBD B-VP +that IN O +his PRP$ B-NP +resignation NN I-NP +was VBD B-VP +a DT B-NP +mutual JJ I-NP +decision NN I-NP +with IN B-PP +Capital NNP B-NP +Holding NNP I-NP +management NN I-NP +, , O +but CC O +that IN B-SBAR +he PRP B-NP +was VBD B-VP +n't RB I-VP +actually RB I-VP +asked VBD I-VP +to TO B-VP +resign VB I-VP +. . O + +The DT B-NP +Accumulation NNP I-NP +and CC I-NP +Investment NNP I-NP +Group NNP I-NP +is VBZ B-VP +responsible JJ B-ADJP +for IN B-PP +the DT B-NP +investment NN I-NP +operations NNS I-NP +of IN B-PP +all DT B-NP +Capital NNP I-NP +Holding NNP I-NP +'s POS B-NP +insurance NN I-NP +businesses NNS I-NP +and CC O +markets NNS B-VP +guaranteed VBD B-NP +investment NN I-NP +contracts NNS I-NP +to TO B-PP +bank VB B-NP +trust NN I-NP +departments NNS I-NP +and CC O +other JJ B-NP +institutions NNS I-NP +. . O + +It PRP B-NP +also RB B-ADVP +sells VBZ B-VP +single-premium JJ B-NP +annuities NNS I-NP +to TO B-PP +individuals NNS B-NP +. . O + +Mr. NNP B-NP +Bailey NNP I-NP +said VBD B-VP +he PRP B-NP +expects VBZ B-VP +to TO I-VP +name VB I-VP +a DT B-NP +new JJ I-NP +group NN I-NP +president NN I-NP +to TO B-VP +head VB I-VP +that DT B-NP +operation NN I-NP +following VBG B-PP +the DT B-NP +Nov. NNP I-NP +8 CD I-NP +board NN I-NP +meeting NN I-NP +. . O + +@ IN O + +Money NNP B-NP +Market NNP I-NP +Deposits NNS I-NP +- : O +a DT B-NP +6.23 CD B-NP +% NN I-NP + +a DT B-NP +- : O +Average NNP B-NP +rate NN I-NP +paid VBD B-VP +yesterday NN B-NP +by IN B-PP +100 CD B-NP +large JJ I-NP +banks NNS I-NP +and CC I-NP +thrifts NNS I-NP +in IN B-PP +the DT B-NP +10 CD I-NP +largest JJS I-NP +metropolitan JJ I-NP +areas NNS I-NP +as IN B-SBAR +compiled VBN B-VP +by IN B-PP +Bank NNP B-NP +Rate NNP I-NP +Monitor NNP I-NP +. . O + +b NN B-NP +- : O +Current JJ B-NP +annual JJ I-NP +yield NN I-NP +. . O + +Guaranteed VBN B-NP +minimum JJ I-NP +6 CD B-NP +% NN I-NP +. . O + +-LRB- ( O +During IN B-PP +its PRP$ B-NP +centennial NN I-NP +year NN I-NP +, , O +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +will MD B-VP +report VB I-VP +events NNS B-NP +of IN B-PP +the DT B-NP +past JJ I-NP +century NN I-NP +that WDT B-NP +stand VBP B-VP +as IN B-PP +milestones NNS B-NP +of IN B-PP +American JJ B-NP +business NN I-NP +history NN I-NP +. . O +-RRB- ) O + +PLASTIC NN B-NP +PENCILS NNS I-NP +, , O +CODE-NAMED VBN B-VP +E-71 NNP B-NP +, , O +made VBD B-VP +their PRP$ B-NP +hush-hush JJ I-NP +debut NN I-NP +in IN B-PP +children NNS B-NP +'s POS B-NP +pencil NN I-NP +boxes NNS I-NP +at IN B-PP +five-and-dime JJ B-NP +stores NNS I-NP +in IN B-PP +1973 CD B-NP +. . O + +But CC O +few NN B-NP +knew VBD B-VP +it PRP B-NP +then RB B-ADVP +and CC O +most RBS B-NP +still RB B-ADVP +think VBP B-VP +all DT B-NP +pencils NNS I-NP +are VBP B-VP +wooden JJ B-ADJP +. . O + +Eagle NNP B-NP +Pencil NNP I-NP +of IN B-PP +Shelbyville NNP B-NP +, , O +Tenn. NNP B-NP +, , O +`` `` O +Pencil NNP B-NP +City NNP I-NP +U.S.A. NNP I-NP +, , O +'' '' O +had VBD B-VP +made VBN I-VP +its PRP$ B-NP +earliest JJS I-NP +pilot NN I-NP +plastic NN I-NP +pencils NNS I-NP +in IN B-PP +1971 CD B-NP +. . O + +But CC O +it PRP B-NP +was VBD B-VP +n't RB O +until IN B-PP +after IN B-SBAR +it PRP B-NP +hired VBD B-VP +Arthur NNP B-NP +D. NNP I-NP +Little NNP I-NP +, , O +a DT B-NP +Cambridge NNP I-NP +, , I-NP +Mass. NNP I-NP +, , I-NP +research NN I-NP +concern NN I-NP +, , O +that IN B-ADVP +its PRP$ B-NP +new JJ I-NP +product NN I-NP +was VBD B-VP +refined JJ I-VP +for IN B-PP +commercial JJ B-NP +sale NN I-NP +in IN B-PP +1973 CD B-NP +. . O + +Three CD B-NP +A.D.L. NNP I-NP +inventors NNS I-NP +applied VBD B-VP +April NNP B-NP +6 CD I-NP +, , I-NP +1973 CD I-NP +, , O +for IN B-PP +the DT B-NP +patent NN I-NP +, , O +which WDT B-NP +was VBD B-VP +assigned VBN I-VP +and CC I-VP +awarded VBN I-VP +in IN B-PP +1976 CD B-NP +to TO B-PP +Hasbro NNP B-NP +Industries NNPS I-NP +, , O +then RB B-ADVP +Eagle NNP B-NP +'s POS B-NP +parent NN I-NP +. . O + +Pencil NN B-NP +pushers NNS I-NP +chew VBP B-VP +and CC O +put VB B-VP +the DT B-NP +plastic NN I-NP +models NNS I-NP +behind IN B-PP +their PRP$ B-NP +ears NNS I-NP +just RB B-PP +like IN I-PP +traditional JJ B-NP +pencils NNS I-NP +made VBN B-VP +of IN B-PP +glued VBN B-NP +strips NNS I-NP +of IN B-PP +California NNP B-NP +incense NN I-NP +cedar NN I-NP +filled VBN B-VP +with IN B-PP +ceramic JJ B-NP +lead NN I-NP +. . O + +It PRP B-NP +takes VBZ B-VP +five CD B-NP +steps NNS I-NP +to TO B-VP +make VB I-VP +standard JJ B-NP +pencils NNS I-NP +, , O +just RB B-NP +one CD I-NP +for IN B-PP +the DT B-NP +plastic NN I-NP +type NN I-NP +. . O + +Automated NNP B-NP +machines NNS I-NP +coextrude VBP B-VP +long JJ B-NP +plastic NN I-NP +sheaths NNS I-NP +with IN B-PP +graphite-plastic JJ B-NP +cores NNS I-NP +that WDT B-NP +are VBP B-VP +printed VBN I-VP +, , I-VP +cut VB I-VP +, , I-VP +painted VBN I-VP +and CC I-VP +eraser-fitted JJ I-VP +. . O + +`` `` O +After IN B-PP +more JJR B-NP +than IN I-NP +200 CD I-NP +years NNS I-NP +, , O +something NN B-NP +new JJ B-ADJP +has VBZ B-VP +happened VBN I-VP +to TO B-PP +pencils NNS B-NP +, , O +'' '' O +said VBD B-VP +Arthur NNP B-NP +D. NNP I-NP +Little NNP I-NP +in IN B-PP +a DT B-NP +1974 CD I-NP +report NN I-NP +that IN B-NP +publicly RB B-VP +described VBN I-VP +the DT B-NP +previously RB I-NP +secret JJ I-NP +item NN I-NP +. . O + +Eagle NNP B-NP +'s POS B-NP +plastic NN I-NP +type NN I-NP +sharpens VBZ B-VP +and CC I-VP +looks VBZ I-VP +like IN B-PP +a DT B-NP +wooden JJ I-NP +pencil NN I-NP +. . O + +A DT B-NP +major JJ I-NP +difference NN I-NP +is VBZ B-VP +that IN B-SBAR +a DT B-NP +snapped VBN I-NP +wooden JJ I-NP +pencil NN I-NP +will MD B-VP +have VB I-VP +a DT B-NP +slivered VBN I-NP +break NN I-NP +while IN B-SBAR +a DT B-NP +plastic NN I-NP +model NN I-NP +will MD B-VP +break VB I-VP +cleanly RB B-ADVP +. . O + +The DT B-NP +softness NN I-NP +of IN B-PP +the DT B-NP +core NN I-NP +constrains VBZ B-VP +the DT B-NP +plastic NN I-NP +models NNS I-NP +to TO B-PP +No. VB B-NP +1 CD I-NP +, , I-NP +No. NN I-NP +2 CD I-NP +or CC I-NP +No. NN I-NP +3-type JJ I-NP +pencils NNS I-NP +, , O +which WDT B-NP +account VBP B-VP +for IN B-PP +the DT B-NP +bulk NN I-NP +of IN B-PP +the DT B-NP +market NN I-NP +. . O + +Artists NNS B-NP +and CC I-NP +draftsmen NNS I-NP +need VBP B-VP +harder JJR B-NP +`` `` I-NP +leads VBZ I-NP +. . O +'' '' O + +Eagle NNP B-NP +, , O +now RB B-VP +called VBN I-VP +Eagle-Berol NNP B-NP +, , O +remains VBZ B-VP +a DT B-NP +leading VBG I-NP +company NN I-NP +among IN B-PP +the DT B-NP +10 CD I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +that WDT B-NP +produced VBD B-VP +about IN B-NP +2.3 CD I-NP +billion CD I-NP +pencils NNS I-NP +last JJ B-NP +year NN I-NP +, , O +according VBG B-PP +to TO B-PP +the DT B-NP +Pencil NNP I-NP +Makers NNP I-NP +Association NNP I-NP +. . O + +It PRP B-NP +'s VBZ B-VP +a DT B-NP +trade NN I-NP +secret JJ I-NP +how WRB B-NP +many NN I-NP +were VBD B-VP +plastic NN B-NP +, , O +and CC O +most RBS B-NP +writers NNS I-NP +still RB B-ADVP +do VBP B-VP +n't RB I-VP +know VB I-VP +what WP B-NP +they PRP B-NP +'re VBP B-VP +using VBG I-VP +. . O + +H.F. NNP B-NP +Ahmanson NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +the DT B-NP +nation NN I-NP +'s POS B-NP +largest JJS I-NP +thrift NN I-NP +holding VBG I-NP +company NN I-NP +, , O +posted VBD B-VP +a DT B-NP +12 CD I-NP +% NN I-NP +earnings NNS I-NP +decline NN I-NP +for IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +while IN B-SBAR +another DT B-NP +large JJ I-NP +California NNP I-NP +savings NNS I-NP +and CC I-NP +loan NN I-NP +, , O +Great NNP B-NP +Western NNP I-NP +Financial NNP I-NP +Corp. NNP I-NP +, , O +reported VBD B-VP +a DT B-NP +slight JJ I-NP +earnings NNS I-NP +gain NN I-NP +. . O + +H.F. NNP B-NP +Ahmanson NNP I-NP +, , O +parent NN B-NP +of IN B-PP +Home NNP B-NP +Savings NNP I-NP +of IN B-PP +America NNP B-NP +, , O +reported VBD B-VP +third-quarter JJ B-NP +net NN I-NP +of IN B-PP +$ $ B-NP +49.2 CD I-NP +million CD I-NP +, , O +or CC O +50 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +down RB B-ADVP +from IN B-PP +$ $ B-NP +56.1 CD I-NP +million CD I-NP +, , O +or CC O +57 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +the DT B-NP +year-earlier JJ I-NP +period NN I-NP +. . O + +Most JJS B-NP +of IN B-PP +the DT B-NP +earnings NNS I-NP +decline NN I-NP +reflected VBD B-VP +an DT B-NP +increase NN I-NP +in IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +effective JJ I-NP +tax NN I-NP +rate NN I-NP +to TO B-PP +44 CD B-NP +% NN I-NP +from IN B-PP +37 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +year-ago JJ I-NP +third JJ I-NP +quarter NN I-NP +when WRB B-ADVP +nonrecurring VBG B-NP +tax NN I-NP +credits NNS I-NP +were VBD B-VP +recorded VBN I-VP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +. . O + +Pretax JJ B-NP +earnings NNS I-NP +declined VBD B-VP +1.3 CD B-NP +% NN I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +Los NNP B-NP +Angeles-based JJ I-NP +H.F. NNP I-NP +Ahmanson NNP I-NP +had VBD B-VP +profit NN B-NP +of IN B-PP +$ $ B-NP +128.1 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.29 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +4.6 CD I-NP +% NN I-NP +decline NN I-NP +from IN B-PP +earnings NNS B-NP +of IN B-PP +$ $ B-NP +134.2 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +year-ago JJ I-NP +nine CD I-NP +months NNS I-NP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +the DT B-NP +decline NN I-NP +was VBD B-VP +attributable JJ B-ADJP +to TO B-PP +a DT B-NP +79 CD I-NP +% NN I-NP +reduction NN I-NP +in IN B-PP +net JJ B-NP +gains NNS I-NP +on IN B-PP +loan NN B-NP +sales VBZ I-NP +this DT B-NP +year NN I-NP +. . O + +Third-quarter JJ B-NP +spreads NNS I-NP +widened VBN B-VP +to TO B-PP +the DT B-NP +highest JJS I-NP +level NN I-NP +in IN B-PP +two CD B-NP +years NNS I-NP +as IN B-SBAR +loan NN B-NP +portfolio NN I-NP +yields NNS I-NP +rose VBD B-VP +and CC O +money NN B-NP +costs NNS I-NP +declined VBD B-VP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +. . O + +Great NNP B-NP +Western NNP I-NP +Financial NNP I-NP +said VBD B-VP +third-quarter JJ B-NP +profit NN I-NP +rose VBD B-VP +slightly RB B-ADVP +to TO B-PP +$ $ B-NP +68.4 CD I-NP +million CD I-NP +, , O +or CC O +52 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +67.9 CD I-NP +million CD I-NP +, , O +or CC O +53 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Great NNP B-NP +Western JJ I-NP +, , O +based VBN B-VP +in IN B-PP +Beverly NNP B-NP +Hills NNP I-NP +, , O +Calif. NNP B-NP +, , O +is VBZ B-VP +a DT B-NP +financial JJ I-NP +services NNS I-NP +firm NN I-NP +and CC O +parent NN B-NP +to TO B-PP +Great NNP B-NP +Western NNP I-NP +Bank NNP I-NP +, , O +an DT B-NP +S&L NNP I-NP +. . O + +Great JJ B-NP +Western NN I-NP +said VBD B-VP +it PRP B-NP +had VBD B-VP +a DT B-NP +sharp JJ I-NP +increase NN I-NP +in IN B-PP +margins NNS B-NP +in IN B-PP +the DT B-NP +recent JJ I-NP +third JJ I-NP +quarter NN I-NP +. . O + +Margins NNS B-NP +are VBP B-VP +the DT B-NP +difference NN I-NP +between IN B-PP +the DT B-NP +yield NN I-NP +on IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +earning VBG I-NP +assets NNS I-NP +and CC O +its PRP$ B-NP +own JJ I-NP +cost NN I-NP +of IN B-PP +funds NNS B-NP +. . O + +But CC O +a DT B-NP +reduction NN I-NP +in IN B-PP +one-time JJ B-NP +gains NNS I-NP +on IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +various JJ B-NP +assets NNS I-NP +and CC O +an DT B-NP +increase NN I-NP +in IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +provision NN I-NP +for IN B-PP +loan NN B-NP +losses NNS I-NP +held VBN B-VP +down RP B-PRT +the DT B-NP +earnings NNS I-NP +gain NN I-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +. . O + +Great NNP B-NP +Western NN I-NP +'s POS B-NP +provision NN I-NP +for IN B-PP +loan NN B-NP +losses NNS I-NP +was VBD B-VP +increased VBN I-VP +to TO B-PP +$ $ B-NP +27.9 CD I-NP +million CD I-NP +for IN B-PP +the DT B-NP +recent JJ I-NP +quarter NN I-NP +compared VBN B-PP +with IN B-PP +$ $ B-NP +21.8 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +primarily RB B-PP +as IN I-PP +a DT B-NP +result NN I-NP +of IN B-PP +`` `` O +continued VBD B-NP +weakness NN I-NP +in IN B-PP +various JJ B-NP +commercial JJ I-NP +and CC I-NP +multifamily JJ I-NP +real JJ I-NP +estate NN I-NP +markets NNS I-NP +outside IN B-PP +California NNP B-NP +. . O +'' '' O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +Great NNP B-NP +Western NN I-NP +posted VBD B-VP +net NN B-NP +of IN B-PP +$ $ B-NP +177.5 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.37 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +5.9 CD I-NP +% NN I-NP +decline NN I-NP +from IN B-PP +$ $ B-NP +188.7 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.48 CD I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +the DT B-NP +year-ago JJ I-NP +period NN I-NP +. . O + +Dun NNP B-NP +& CC I-NP +Bradstreet NNP I-NP +Corp. NNP I-NP +posted VBD B-VP +a DT B-NP +15 CD I-NP +% NN I-NP +rise NN I-NP +in IN B-PP +third-quarter JJ B-NP +earnings NNS I-NP +. . O + +But CC O +revenue NN B-NP +declined VBD B-VP +more JJR B-NP +than IN I-NP +2 CD I-NP +% NN I-NP +, , O +reflecting VBG B-VP +in IN B-PP +part NN B-NP +a DT B-NP +continuing VBG I-NP +drop NN I-NP +in IN B-PP +sales NNS B-NP +of IN B-PP +credit NN B-NP +services NNS I-NP +in IN B-PP +the DT B-NP +wake NN I-NP +of IN B-PP +controversy NN B-NP +over IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +sales NNS I-NP +practices NNS I-NP +. . O + +The DT B-NP +information NN I-NP +company NN I-NP +also RB B-ADVP +cited VBD B-VP +the DT B-NP +stronger JJR I-NP +dollar NN I-NP +, , O +the DT B-NP +sale NN I-NP +last JJ B-NP +year NN I-NP +of IN B-PP +its PRP$ B-NP +former JJ I-NP +Official NNP I-NP +Airline NNP I-NP +Guides NNS I-NP +unit NN I-NP +and CC O +other JJ B-NP +factors NNS I-NP +. . O + +Net JJ B-NP +income NN I-NP +rose VBD B-VP +to TO B-PP +a DT B-NP +record NN I-NP +$ $ I-NP +155.3 CD I-NP +million CD I-NP +, , O +or CC O +83 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +134.8 CD I-NP +million CD I-NP +, , O +or CC O +72 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +Revenue NN B-NP +fell VBD B-VP +to TO B-PP +$ $ B-NP +1.04 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +1.07 CD I-NP +billion CD I-NP +. . O + +In IN B-PP +composite JJ B-NP +trading NN I-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +, , O +Dun NNP B-NP +& CC I-NP +Bradstreet NNP I-NP +closed VBD B-VP +yesterday NN B-NP +at IN B-PP +$ $ B-NP +53.75 CD I-NP +, , O +down RB B-ADVP +25 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +Analysts NNS B-NP +said VBD B-VP +the DT B-NP +results NNS I-NP +were VBD B-VP +as IN O +expected VBN B-VP +, , O +but CC O +several JJ B-NP +added VBD B-VP +that IN B-SBAR +the DT B-NP +earnings NNS I-NP +masked VBN B-VP +underlying VBG B-NP +weaknesses NNS I-NP +in IN B-PP +several JJ B-NP +businesses NNS I-NP +. . O + +`` `` O +The DT B-NP +quality NN I-NP +of IN B-PP +earnings NNS B-NP +was VBD B-VP +n't RB O +as RB B-ADJP +high JJ I-ADJP +as IN B-SBAR +I PRP B-NP +expected VBD B-VP +, , O +'' '' O +said VBD B-VP +Eric NNP B-NP +Philo NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +for IN B-PP +Goldman NNP B-NP +, , I-NP +Sachs NNP I-NP +& CC I-NP +Co NNP I-NP +. . O + +For IN B-PP +example NN B-NP +, , O +he PRP B-NP +noted VBD B-VP +, , O +operating VBG B-NP +profit NN I-NP +was VBD B-VP +weaker JJR B-ADJP +than IN B-SBAR +he PRP B-NP +had VBD B-VP +anticipated VBN I-VP +, , O +but CC O +nonoperating VBG B-NP +earnings NNS I-NP +of IN B-PP +$ $ B-NP +14.6 CD I-NP +million CD I-NP +and CC O +a DT B-NP +lower JJR I-NP +tax NN I-NP +rate NN I-NP +helped VBD B-VP +boost VB I-VP +net JJ B-NP +income NN I-NP +. . O + +Dun NNP B-NP +& CC I-NP +Bradstreet NNP I-NP +said VBD B-VP +operating VBG B-NP +earnings NNS I-NP +rose VBD B-VP +8 CD B-NP +% NN I-NP +, , O +excluding VBG B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +Official NNP B-NP +Airline NNP I-NP +Guides NNS I-NP +. . O + +Third-quarter JJ B-NP +sales NNS I-NP +of IN B-PP +U.S. NNP B-NP +credit NN I-NP +services NNS I-NP +were VBD B-VP +`` `` O +disappointingly RB B-ADVP +below IN B-PP +sales NNS B-NP +'' '' O +of IN B-PP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +, , O +Dun NNP B-NP +& CC I-NP +Bradstreet NNP I-NP +said VBD B-VP +. . O + +As IN B-SBAR +previously RB B-ADVP +reported VBD B-VP +, , O +those DT B-NP +sales NNS I-NP +have NN B-VP +been VBN I-VP +declining VBG I-VP +this DT B-NP +year NN I-NP +in IN B-PP +the DT B-NP +wake NN I-NP +of IN B-PP +allegations NNS B-NP +that IN B-SBAR +the DT B-NP +company NN I-NP +engaged VBN B-VP +in IN B-PP +unfair JJ B-NP +sales NNS I-NP +practices NNS I-NP +that WDT B-NP +encouraged VBD B-VP +customers NNS B-NP +to TO B-VP +overpurchase VB I-VP +services NNS B-NP +. . O + +The DT B-NP +company NN I-NP +has VBZ B-VP +denied VBN I-VP +the DT B-NP +allegations NNS I-NP +but CC O +has VBZ B-VP +negotiated VBN I-VP +a DT B-NP +proposed VBN I-NP +$ $ I-NP +18 CD I-NP +million CD I-NP +settlement NN I-NP +of IN B-PP +related VBN B-NP +lawsuits NNS I-NP +. . O + +Analysts NNS B-NP +predict VBP B-VP +the DT B-NP +sales NNS I-NP +impact NN I-NP +will MD B-VP +linger VB I-VP +. . O + +`` `` O +There EX B-NP +is VBZ B-VP +n't RB O +much JJ B-NP +question NN I-NP +there EX B-NP +will MD B-VP +continue VB I-VP +to TO I-VP +be VB I-VP +a DT B-NP +ripple NN I-NP +effect NN I-NP +, , O +'' '' O +said VBD B-VP +John NNP B-NP +Reidy NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +with IN B-PP +Drexel NNP B-NP +Burnham NNP I-NP +Lambert NNP I-NP +Inc NNP I-NP +. . O + +Dun NNP B-NP +& CC I-NP +Bradstreet NNP I-NP +noted VBD B-VP +that DT B-SBAR +price NN B-NP +competition NN I-NP +in IN B-PP +its PRP$ B-NP +Nielsen NNP I-NP +Marketing NNP I-NP +Research NNP I-NP +, , I-NP +Nielsen NNP I-NP +Clearing NNP I-NP +House NNP I-NP +and CC I-NP +Donnelley NNP I-NP +Marketing NNP I-NP +businesses NNS I-NP +also RB B-ADVP +restrained VBN B-VP +revenue NN B-NP +growth NN I-NP +. . O + +It PRP B-NP +cited VBD B-VP +cyclical JJ B-NP +conditions NNS I-NP +in IN B-PP +its PRP$ O +Moody NNP B-NP +'s POS B-NP +Investors NNP I-NP +Service NNP I-NP +Inc. NNP I-NP +and CC I-NP +D&B NNP I-NP +Plan NNP I-NP +Services NNPS I-NP +units NNS I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +net JJ B-NP +income NN I-NP +rose VBD B-VP +19 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +449 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +2.40 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +375.9 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +2.01 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Year-earlier JJ B-NP +earnings NNS I-NP +reflected VBD B-VP +costs NNS B-NP +of IN B-PP +$ $ B-NP +14.3 CD I-NP +million CD I-NP +related VBN B-ADJP +to TO B-PP +the DT B-NP +acquisition NN I-NP +of IN B-PP +IMS NNP B-NP +International NNP I-NP +. . O + +Revenue NN B-NP +rose VBD B-VP +slightly RB B-ADVP +to TO B-PP +$ $ B-NP +3.16 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +3.13 CD I-NP +billion CD I-NP +. . O + +Control NNP B-NP +Data NNP I-NP +Corp. NNP I-NP +said VBD B-VP +it PRP B-NP +licensed VBD B-VP +its PRP$ B-NP +airline NN I-NP +yield-management NN I-NP +software NN I-NP +to TO B-PP +the DT B-NP +International NNP I-NP +Air NNP I-NP +Transport NNP I-NP +Association NNP I-NP +. . O + +Terms NNS B-NP +include VBP B-VP +a DT B-NP +royalty NN I-NP +arrangement NN I-NP +, , O +but CC O +details NNS B-NP +were VBD B-VP +n't RB I-VP +disclosed VBN I-VP +. . O + +The DT B-NP +computer NN I-NP +equipment NN I-NP +and CC I-NP +financial JJ I-NP +services NNS I-NP +company NN I-NP +said VBD B-VP +IATA NNP B-NP +, , O +a DT B-NP +trade NN I-NP +group NN I-NP +, , O +will MD B-VP +sell VB I-VP +access NN B-NP +to TO B-PP +the DT B-NP +package NN I-NP +to TO B-PP +its PRP$ B-NP +180 CD I-NP +airline NN I-NP +members NNS I-NP +world-wide JJ B-ADVP +. . O + +Control NNP B-NP +Data NNP I-NP +will MD B-VP +receive VB I-VP +revenue NN B-NP +linked VBN B-VP +to TO B-PP +the DT B-NP +number NN I-NP +of IN B-PP +passengers NNS B-NP +served VBN B-VP +by IN B-PP +the DT B-NP +software NN I-NP +, , O +IATA NNP B-NP +said VBD B-VP +. . O + +The DT B-NP +package NN I-NP +helps VBZ B-VP +carriers NNS B-NP +solve VBP B-VP +pricing VBG B-NP +problems NNS I-NP +, , O +such JJ B-PP +as IN I-PP +how WRB B-ADVP +to TO B-VP +react VB I-VP +to TO B-PP +discounts NNS B-NP +offered VBN B-VP +by IN B-PP +competitors NNS B-NP +or CC O +what WP B-NP +would MD B-VP +be VB I-VP +the DT B-NP +optimum JJ I-NP +number NN I-NP +of IN B-PP +seats NNS B-NP +to TO B-VP +offer VB I-VP +at IN B-PP +a DT B-NP +given VBN I-NP +price NN I-NP +. . O + +Wheeling-Pittsburgh NNP B-NP +Steel NNP I-NP +Corp. NNP I-NP +said VBD B-VP +it PRP B-NP +decided VBD B-VP +to TO I-VP +proceed VB I-VP +with IN B-PP +installation NN B-NP +of IN B-PP +automatic JJ B-NP +gauge NN I-NP +and CC I-NP +shape NN I-NP +controls NNS I-NP +at IN B-PP +its PRP$ B-NP +60-inch JJ I-NP +tandem NN I-NP +cold JJ I-NP +rolling NN I-NP +mill NN I-NP +in IN B-PP +Allenport NNP B-NP +, , O +Pa NNP B-NP +. . O + +The DT B-NP +new JJ I-NP +equipment NN I-NP +, , O +which WDT B-NP +will MD B-VP +produce VB I-VP +steel NN B-NP +sheet NN I-NP +with IN B-PP +more JJR B-NP +uniform NN I-NP +thickness NN I-NP +and CC I-NP +flatness NN I-NP +, , O +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +cost VB I-VP +more JJR B-NP +than IN I-NP +$ $ I-NP +20 CD I-NP +million CD I-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +. . O + +When WRB B-ADVP +the DT B-NP +company NN I-NP +last RB B-ADVP +considered VBD B-VP +adding VBG I-VP +the DT B-NP +equipment NN I-NP +two CD B-NP +years NNS I-NP +ago RB B-ADVP +, , O +it PRP B-NP +estimated VBD B-VP +the DT B-NP +cost NN I-NP +at IN B-PP +$ $ B-NP +21 CD I-NP +million CD I-NP +to TO O +$ $ B-NP +22 CD I-NP +million CD I-NP +, , O +but CC O +a DT B-NP +task NN I-NP +force NN I-NP +will MD B-VP +have VB I-VP +to TO I-VP +prepare VB I-VP +a DT B-NP +detailed VBN I-NP +plan NN I-NP +before IN B-SBAR +the DT B-NP +company NN I-NP +can MD B-VP +predict VB I-VP +the DT B-NP +current JJ I-NP +cost NN I-NP +. . O + +The DT B-NP +time NN I-NP +schedule NN I-NP +for IN B-PP +installing VBG B-VP +the DT B-NP +equipment NN I-NP +also RB B-ADVP +will MD B-VP +be VB I-VP +developed VBN I-VP +by IN B-PP +the DT B-NP +task NN I-NP +force NN I-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +. . O + +Sir NNP B-NP +Richard NNP I-NP +Butler NNP I-NP +, , O +60-year-old JJ B-NP +chairman NN I-NP +of IN B-PP +Agricola NNP B-NP +-LRB- ( O +U.K NNP O +. . O +-RRB- ) O +Ltd. NNP B-NP +, , O +was VBD B-VP +named VBN I-VP +chairman NN B-NP +of IN B-PP +County NNP B-NP +NatWest NNP I-NP +Investment NNP I-NP +Management NNP I-NP +Ltd. NNP I-NP +, , O +the DT B-NP +investment NN I-NP +management NN I-NP +subsidiary NN I-NP +of IN B-PP +County NNP B-NP +NatWest NNP I-NP +Ltd. NNP I-NP +, , O +the DT B-NP +investment NN I-NP +banking NN I-NP +arm NN I-NP +of IN B-PP +this DT B-NP +British JJ I-NP +bank NN I-NP +. . O + +Sir NNP B-NP +Richard NNP I-NP +succeeds VBZ B-VP +John NNP B-NP +Plastow NNP I-NP +, , O +who WP B-NP +resigned VBD B-VP +in IN B-PP +July NNP B-NP +. . O + +Sir NNP B-NP +Richard NNP I-NP +is VBZ B-VP +also RB B-ADVP +a DT B-NP +non-executive JJ I-NP +director NN I-NP +at IN B-PP +National NNP B-NP +Westminister NNP I-NP +Bank NNP I-NP +and CC O +NatWest NNP B-NP +Investment NNP I-NP +Bank NNP I-NP +Ltd NNP I-NP +. . O + +In IN B-PP +the DT B-NP +long JJ I-NP +, , I-NP +frightening JJ I-NP +night NN I-NP +after IN B-PP +Tuesday NNP B-NP +'s POS B-NP +devastating JJ I-NP +earthquake NN I-NP +, , O +Bay NNP B-NP +Area NNP I-NP +residents NNS I-NP +searched VBD B-VP +for IN B-PP +comfort NN B-NP +and CC I-NP +solace NN I-NP +wherever WRB B-ADVP +they PRP B-NP +could MD B-VP +. . O + +Some DT B-NP +found VBD B-VP +it PRP B-NP +on IN B-PP +the DT B-NP +screen NN I-NP +of IN B-PP +a DT B-NP +personal JJ I-NP +computer NN I-NP +. . O + +Hundreds NNS B-NP +of IN B-PP +Californians NNS B-NP +made VBD B-VP +their PRP$ B-NP +way NN I-NP +to TO B-PP +their PRP$ B-NP +computers NNS I-NP +after IN B-PP +the DT B-NP +quake NN I-NP +, , O +and CC O +checked VBD B-VP +in IN B-PRT +with IN B-PP +each DT B-NP +other NN I-NP +on IN B-PP +electronic JJ B-NP +bulletin NN I-NP +boards NNS I-NP +, , O +which WDT B-NP +link VBP B-VP +computers NNS B-NP +CB-radio-style JJ B-ADVP +, , O +via IN B-PP +phone NN B-NP +lines NNS I-NP +. . O + +Some DT B-NP +of IN B-PP +the DT B-NP +most RBS I-NP +vivid JJ I-NP +bulletins NNS I-NP +came VBD B-VP +over IN B-PP +The DT B-NP +Well UH I-NP +, , O +a DT B-NP +Sausalito NNP I-NP +, , I-NP +Calif. NNP I-NP +, , I-NP +board NN I-NP +that WDT B-NP +is VBZ B-VP +one CD B-NP +of IN B-PP +the DT B-NP +liveliest JJS I-NP +outposts NNS I-NP +of IN B-PP +the DT B-NP +electronic JJ I-NP +underground NN I-NP +. . O + +About IN B-NP +two-thirds NNS I-NP +of IN B-PP +the DT B-NP +Well UH I-NP +'s POS B-NP +3,000 CD I-NP +subscribers NNS I-NP +live VBP B-VP +in IN B-PP +the DT B-NP +Bay NNP I-NP +Area NNP I-NP +. . O + +The DT B-NP +quake NN I-NP +knocked VBD B-VP +The DT B-NP +Well UH I-NP +out IN B-PRT +for IN B-PP +six CD B-NP +hours NNS I-NP +, , O +but CC O +when WRB B-ADVP +it PRP B-NP +came VBD B-VP +back RB B-ADVP +up IN B-ADJP +, , O +it PRP B-NP +teemed VBD B-VP +with IN B-PP +emotional JJ B-NP +first-hand JJ I-NP +reports NNS I-NP +. . O + +Following VBG B-VP +are VBP O +excerpts NNS B-NP +from IN B-PP +the DT B-NP +electronic JJ I-NP +traffic NN I-NP +that DT B-NP +night NN I-NP +. . O + +The DT B-NP +time NN I-NP +is VBZ B-VP +Pacific NNP B-NP +Daylight NNP I-NP +Time NNP I-NP +, , O +and CC O +the DT B-NP +initials NNS I-NP +or CC I-NP +nicknames NNS I-NP +are VBP B-VP +those DT B-NP +subscribers NNS B-NP +use VBP B-VP +to TO B-VP +identify VB I-VP +themselves PRP B-NP +. . O + +11:54 CD B-NP +p.m RB I-NP +. . O + +JCKC NNP B-NP +: : O + +Wow UH B-INTJ +! . O + +I PRP B-NP +was VBD B-VP +in IN B-PP +the DT B-NP +avenues NNS I-NP +, , O +on IN B-PP +the DT B-NP +third JJ I-NP +floor NN I-NP +of IN B-PP +an DT B-NP +old JJ I-NP +building NN I-NP +, , O +and CC O +except IN B-PP +for IN B-PP +my PRP$ B-NP +heart NN I-NP +-LRB- ( O +Beat NNP B-INTJ +, , I-INTJ +BEAT NN I-INTJ +! . O +-RRB- ) O +I PRP B-NP +'m VBP B-VP +OK JJ B-ADJP +. . O + +Got VBD B-VP +back RB B-ADVP +to TO B-PP +Bolinas NNP B-NP +, , O +and CC O +everything NN B-NP +had VBD B-VP +fallen VBN I-VP +: : O +broken VBN B-NP +poster NN I-NP +frames NNS I-NP +with IN B-PP +glass NN B-NP +on IN B-PP +the DT B-NP +floor NN I-NP +, , O +file VB B-NP +cabinets NNS I-NP +open JJ B-ADJP +or CC O +dumped VBD B-VP +onto IN B-PP +the DT B-NP +floor NN I-NP +. . O + +11:59 CD B-NP +p.m RB I-NP +. . O + +JKD NNP B-NP +: : O + +I PRP B-NP +was VBD B-VP +in IN B-PP +my PRP$ B-NP +favorite JJ I-NP +watering NN I-NP +hole NN I-NP +, , O +waiting VBG B-VP +for IN B-SBAR +the DT B-NP +game NN I-NP +to TO B-VP +start VB I-VP +. . O + +I PRP B-NP +felt VBD B-VP +the DT B-NP +temblor NN I-NP +begin VB B-VP +and CC O +glanced VBD B-VP +at IN B-PP +the DT B-NP +table NN I-NP +next JJ B-ADVP +to TO B-PP +mine VB B-NP +, , O +smiled VBD B-VP +that IN B-NP +guilty JJ I-NP +smile NN I-NP +and CC O +we PRP B-NP +both DT B-NP +mouthed VBD B-VP +the DT B-NP +words NNS I-NP +, , O +`` `` O +Earth-quake NN B-NP +! . O +'' '' O +together RB B-ADVP +. . O + +That DT B-NP +'s VBZ B-VP +usually RB B-ADVP +how WRB B-ADVP +long JJ O +it PRP B-NP +takes VBZ B-VP +for IN B-SBAR +the DT B-NP +temblors NNS I-NP +to TO B-VP +pass VB I-VP +. . O + +This DT B-NP +time NN I-NP +, , O +it PRP B-NP +just RB B-ADVP +got VBD B-VP +stronger JJR B-ADJP +and CC O +then RB O +the DT B-NP +building NN I-NP +started VBD B-VP +shaking VBG I-VP +violently RB B-ADVP +up IN B-ADVP +and CC I-ADVP +down RB I-ADVP +as IN B-SBAR +though IN I-SBAR +it PRP B-NP +were VBD B-VP +a DT B-NP +child NN I-NP +'s POS B-NP +toy NN I-NP +block NN I-NP +that WDT B-NP +was VBD B-VP +being VBG I-VP +tossed VBN I-VP +. . O + +12:06 CD B-NP +a.m RB I-NP +. . O + +HRH NNP B-NP +: : O + +I PRP B-NP +was VBD B-VP +in IN B-PP +the DT B-NP +Berkeley NNP I-NP +Main NNP I-NP +library NN I-NP +when WRB B-ADVP +it PRP B-NP +hit VBD B-VP +. . O + +Endless JJ B-NP +seconds NNS I-NP +wondering VBG B-VP +if IN B-SBAR +those DT B-NP +huge JJ I-NP +windows NNS I-NP +would MD B-VP +buckle VB I-VP +and CC O +shower NN B-VP +us PRP B-NP +with IN B-PP +glass NN B-NP +. . O + +Only RB B-NP +a DT I-NP +few JJ I-NP +books NNS I-NP +fell VBD B-VP +in IN B-PP +the DT B-NP +reading NN I-NP +room NN I-NP +. . O + +Then RB O +the DT B-NP +auto NN I-NP +paint NN I-NP +shop NN I-NP +fire NN I-NP +sent VBD B-VP +an DT B-NP +evil-looking JJ I-NP +cloud NN I-NP +of IN B-PP +black JJ B-NP +smoke NN I-NP +into IN B-PP +the DT B-NP +air NN I-NP +. . O + +12:07 CD B-NP +a.m RB I-NP +. . O + +ONEZIE NNP B-NP +: : O + +My PRP$ B-NP +younger JJR I-NP +daughter NN I-NP +and CC O +I PRP B-NP +are VBP B-VP +fine JJ B-ADJP +. . O + +This DT B-NP +building NN I-NP +shook VBD B-VP +like IN B-PP +hell NN B-NP +and CC O +it PRP B-NP +kept VBD B-VP +getting VBG I-VP +stronger JJR B-ADJP +. . O + +Except IN B-PP +for IN B-PP +the DT B-NP +gas NN I-NP +tank NN I-NP +at IN B-PP +Hustead NNP B-NP +'s POS B-NP +Towing NNP I-NP +Service NNP I-NP +exploding VBG B-VP +and CC I-VP +burning VBG I-VP +in IN B-PP +downtown NN B-NP +Berkeley NNP I-NP +, , O +things NNS B-NP +here RB B-ADVP +are VBP B-VP +quite RB B-ADJP +peaceful JJ I-ADJP +. . O + +A DT B-NP +lot NN I-NP +of IN B-PP +car NN B-NP +alarms NNS I-NP +went VBD B-VP +off RB B-PRT +. . O + +The DT B-NP +cats NNS I-NP +are VBP B-VP +fine JJ B-ADJP +, , I-ADJP +although IN I-ADJP +nervous JJ I-ADJP +. . O + +12:15 CD B-NP +a.m RB I-NP +. . O + +DHAWK NNP B-NP +: : O + +Huge JJ B-NP +fire NN I-NP +from IN B-PP +broken VBN B-NP +gas NN I-NP +main JJ I-NP +in IN B-PP +the DT B-NP +Marina NNP I-NP +in IN B-PP +SF NNP B-NP +. . O + +Areas NNS B-NP +that WDT B-NP +are VBP B-VP +made VBN I-VP +of IN B-PP +` `` O +fill NN B-NP +' '' O +liquefy VB B-VP +. . O + +A DT B-NP +woman NN I-NP +in IN B-PP +a DT B-NP +three-story JJ I-NP +apartment NN I-NP +was VBD B-VP +able JJ B-ADJP +to TO B-VP +walk VB I-VP +out RP B-PP +the IN B-NP +window NN I-NP +of IN B-PP +the DT B-NP +third JJ I-NP +floor NN I-NP +onto IN B-PP +street NN B-NP +level NN I-NP +after IN B-PP +the DT B-NP +quake NN I-NP +. . O + +The DT B-NP +house NN I-NP +just RB B-ADVP +settled VBD B-VP +right RB B-ADVP +down RB I-ADVP +into IN B-PP +the DT B-NP +ground NN I-NP +. . O + +12:38 CD B-NP +a.m RB I-NP +. . O + +DAYAC NNP B-NP +: : O + +I PRP B-NP +was VBD B-VP +driving VBG I-VP +my PRP$ B-NP +truck NN I-NP +, , O +stopped VBD B-VP +at IN B-PP +a DT B-NP +red JJ I-NP +light NN I-NP +at IN B-PP +the DT B-NP +corner NN I-NP +of IN B-PP +Shattuck NNP B-NP +and CC I-NP +Alcatraz NNP I-NP +at IN B-PP +the DT B-NP +Oakland-Berkeley NNP I-NP +border NN I-NP +when WRB B-ADVP +it PRP B-NP +hit VBD B-VP +. . O + +Worst JJS B-NP +part NN I-NP +was VBD B-VP +watching VBG I-VP +power NN B-NP +lines NNS I-NP +waving VBG B-VP +above IN B-PP +my PRP$ B-NP +head NN I-NP +and CC O +no DT B-NP +way NN I-NP +to TO B-VP +drive VB I-VP +away RB B-ADVP +. . O + +12:48 CD B-NP +a.m RB I-NP +. . O + +LMEYER NNP B-NP +: : O + +Was VBD B-VP +300 CD B-NP +ft. NN I-NP +out IN B-ADVP +on IN B-PP +a DT B-NP +pier NN I-NP +in IN B-PP +San NNP B-NP +Rafael NNP I-NP +. . O + +It PRP B-NP +flopped VBD B-VP +all DT B-ADVP +around IN I-ADVP +, , O +real JJ B-ADJP +dramatic JJ I-ADJP +! . O + +Many JJ B-NP +hairline NN I-NP +cracks NNS I-NP +in IN B-PP +the DT B-NP +concrete JJ I-NP +slabs NNS I-NP +afterwards RB B-ADVP +. . O + +Ruined VBN B-VP +the DT B-NP +damn JJ I-NP +fishing NN I-NP +! . O + +1:00 CD B-NP +a.m RB I-NP +. . O + +HEYNOW NNP B-NP +: : O + +I PRP B-NP +rode VBD B-VP +it PRP B-NP +out IN B-PRT +on IN B-PP +the DT B-NP +second JJ I-NP +floor NN I-NP +of IN B-PP +Leo NNP B-NP +'s POS B-NP +at IN B-PP +55th NN B-NP +and CC I-NP +Telegraph NNP I-NP +in IN B-PP +Oakland NNP B-NP +. . O + +I PRP B-NP +heard VBD B-VP +parts NNS B-NP +of IN B-PP +the DT B-NP +building NN I-NP +above IN B-PP +my PRP$ B-NP +head NN I-NP +cracking VBG B-VP +. . O + +I PRP B-NP +actually RB B-ADVP +thought VBD B-VP +that IN B-SBAR +I PRP B-NP +might MD B-VP +die VB I-VP +. . O + +I PRP B-NP +could MD B-VP +n't RB I-VP +decide VB I-VP +if IN B-SBAR +I PRP B-NP +should MD B-VP +come VB I-VP +home NN B-ADVP +to TO B-PP +Marin NNP B-NP +, , O +because IN B-SBAR +my PRP$ B-NP +house NN I-NP +is VBZ B-VP +on IN B-PP +stilts NNS B-NP +. . O + +I PRP B-NP +decided VBD B-VP +to TO I-VP +brave VB I-VP +the DT B-NP +storm NN I-NP +. . O + +There EX B-NP +was VBD B-VP +a DT B-NP +horrible JJ I-NP +smell NN I-NP +of IN B-PP +gas NN B-NP +as IN B-SBAR +I PRP B-NP +passed VBD B-VP +the DT B-NP +Chevron NNP I-NP +refinery NN I-NP +before IN B-PP +crossing VBG B-VP +the DT B-NP +Richmond-San NNP I-NP +Rafael NNP I-NP +Bridge NNP I-NP +. . O + +I PRP B-NP +could MD B-VP +also RB I-VP +see VB I-VP +the DT B-NP +clouds NNS I-NP +across IN B-PP +the DT B-NP +bay NN I-NP +from IN B-PP +the DT B-NP +horrible JJ I-NP +fire NN I-NP +in IN B-PP +the DT B-NP +Marina NNP I-NP +District NNP I-NP +of IN B-PP +San NNP B-NP +Francisco NNP I-NP +. . O + +I PRP B-NP +have VBP B-VP +felt VBN I-VP +many JJ B-NP +aftershocks NNS I-NP +. . O + +My PRP$ B-NP +back RB I-NP +is VBZ B-VP +still RB B-ADVP +in IN B-PP +knots NNS B-NP +and CC O +my PRP$ B-NP +hands NNS I-NP +are VBP B-VP +still RB I-VP +shaking VBG I-VP +. . O + +I PRP B-NP +think VBP B-VP +a DT B-NP +few NN I-NP +of IN B-PP +the DT B-NP +aftershocks NNS I-NP +might MD B-VP +just RB I-VP +be VB I-VP +my PRP$ B-NP +body NN I-NP +shaking VBG B-VP +. . O + +1:11 CD B-NP +a.m. NN I-NP + +GR8FLRED CD B-NP +: : O + +I PRP B-NP +could MD B-VP +see VB I-VP +the DT B-NP +flames NNS I-NP +from IN B-PP +San NNP B-NP +Francisco NNP I-NP +from IN B-PP +my PRP$ B-NP +house NN I-NP +across IN B-PP +the DT B-NP +bay NN I-NP +. . O + +It PRP B-NP +'s VBZ B-VP +hard JJ B-ADJP +to TO B-VP +believe VB I-VP +this DT B-NP +really RB B-ADVP +is VBZ B-VP +happening VBG I-VP +. . O + +1:11 CD B-NP +a.m RB I-NP +. . O + +RD NNP B-NP +: : O + +Building NNP B-NP +on IN B-PP +the DT B-NP +corner NN I-NP +severely RB B-VP +damaged VBD I-VP +, , O +so RB O +an DT B-NP +old JJ I-NP +lady NN I-NP +and CC O +her PRP$ B-NP +very RB I-NP +old JJ I-NP +mother NN I-NP +are VBP B-VP +in IN B-PP +the DT B-NP +guest NN I-NP +room NN I-NP +. . O + +Books NNS B-NP +and CC I-NP +software NN I-NP +everywhere RB B-ADVP +. . O + +This DT B-NP +being VBG B-VP +typed VBN I-VP +in IN B-PP +a DT B-NP +standing VBG I-NP +position NN I-NP +. . O + +1:20 CD B-NP +a.m RB I-NP +. . O + +DGAULT NNP B-NP +: : O + +Bolinas NNP B-NP +-- : O +astride IN B-PP +the DT B-NP +San NNP I-NP +Andreas NNP I-NP +Fault NNP I-NP +. . O + +Did VBD B-VP +n't RB I-VP +feel VB I-VP +a DT B-NP +thing NN I-NP +, , O +but CC O +noticed VBD B-VP +some DT B-NP +strange JJ I-NP +bird NN I-NP +behavior NN I-NP +. . O + +Duck NN B-NP +swarms NNS I-NP +. . O + +3:25 CD B-NP +a.m RB I-NP +. . O + +SAMURAI NNP B-NP +: : O + +I PRP B-NP +just RB B-ADVP +felt VBD B-VP +another DT B-NP +aftershock NN I-NP +a DT B-NP +few JJ I-NP +seconds NNS I-NP +ago RB B-ADVP +. . O + +I PRP B-NP +'m VBP B-VP +just RB B-ADVP +numb JJ B-ADJP +. . O + +3:25 CD B-NP +a.m RB I-NP +. . O + +MACPOST NNP B-NP +: : O + +Downtown NNP B-NP +Bolinas NNP I-NP +seems VBZ B-VP +to TO I-VP +be VB I-VP +the DT B-NP +part NN I-NP +of IN B-PP +town NN B-NP +that WDT B-NP +'s VBZ B-VP +worst JJS B-ADJP +off RB I-ADJP +. . O + +No DT B-NP +power NN I-NP +, , O +minimal JJ B-NP +phones NNS I-NP +, , O +and CC O +a DT B-NP +mess NN I-NP +of IN B-PP +mayonnaise NN B-NP +, , O +wine NN B-NP +, , O +and CC O +everything NN B-NP +else RB B-ADJP +all DT B-ADVP +over IN B-PP +the DT B-NP +floors NNS I-NP +of IN B-PP +the DT B-NP +big JJ I-NP +old JJ I-NP +general JJ I-NP +store NN I-NP +and CC O +the DT B-NP +People NNS I-NP +'s POS B-NP +Co-op NN I-NP +. . O + +The DT B-NP +quivers NNS I-NP +move VBP B-VP +through IN B-PP +my PRP$ B-NP +house NN I-NP +every DT B-NP +few JJ I-NP +minutes NNS I-NP +at IN B-PP +unpredictable JJ B-NP +intervals NNS I-NP +, , O +and CC O +the DT B-NP +mouse NN I-NP +that WDT B-NP +'s VBZ B-VP +been VBN I-VP +living VBG I-VP +in IN B-PP +my PRP$ B-NP +kitchen NN I-NP +has VBZ B-VP +taken VBN I-VP +refuge NN B-NP +under IN B-PP +my PRP$ B-NP +desk NN I-NP +. . O + +It PRP B-NP +runs VBZ B-VP +out IN B-ADVP +frantically RB B-ADVP +now RB B-ADVP +and CC I-ADVP +then RB I-ADVP +, , O +and CC O +is VBZ B-VP +clearly RB B-ADVP +pretty RB B-ADJP +distressed JJ I-ADJP +. . O + +I PRP B-NP +was VBD B-VP +in IN B-PP +Stinson NNP B-NP +Beach NNP I-NP +when WRB B-ADVP +the DT B-NP +quake NN I-NP +rolled VBD B-VP +through IN B-PP +town NN B-NP +. . O + +At IN B-ADVP +first JJ I-ADVP +, , O +we PRP B-NP +were VBD B-VP +unfazed VBN I-VP +. . O + +Then RB O +as IN B-SBAR +things NNS B-NP +got VBD B-VP +rougher JJR B-ADJP +, , O +we PRP B-NP +ran VBD B-VP +for IN B-PP +the DT B-NP +door NN I-NP +and CC O +spent VBD B-VP +the DT B-NP +next JJ I-NP +few JJ I-NP +minutes NNS I-NP +outside IN B-ADVP +watching VBG B-VP +the DT B-NP +brick NN I-NP +sidewalk NN I-NP +under IN B-PP +our PRP$ B-NP +feet NNS I-NP +oozing VBG B-VP +up IN B-ADVP +and CC I-ADVP +down RB I-ADVP +, , O +and CC O +the DT B-NP +flowers NNS I-NP +waving VBG B-VP +in IN B-PP +an DT B-NP +eerie JJ I-NP +rhythm NN I-NP +. . O + +Amazing JJ B-ADJP +what WP B-NP +it PRP B-NP +does VBZ B-VP +to TO B-PP +one CD B-NP +'s POS B-NP +heart NN I-NP +rate NN I-NP +and CC O +one CD B-NP +'s POS B-NP +short-term JJ I-NP +memory NN I-NP +. . O + +Everyone NN B-NP +looked VBD B-VP +calm JJ B-ADJP +, , O +but CC O +there EX B-NP +was VBD B-VP +this DT B-NP +surreal JJ I-NP +low JJ I-NP +level NN I-NP +of IN B-PP +confusion NN B-NP +as IN B-SBAR +the DT B-NP +aftershocks NNS I-NP +continued VBD B-VP +. . O + +4:02 CD B-NP +a.m RB I-NP +. . O + +SHIBUMI NNP B-NP +: : O + +Power NNP B-NP +is VBZ B-VP +back RB B-ADVP +on IN B-ADVP +, , O +and CC O +UCSF NNP B-NP +-LCB- ( O +medical JJ B-NP +center NN I-NP +-RCB- ) O +seems VBZ B-VP +to TO I-VP +have VB I-VP +quieted VBN I-VP +down RB B-PRT +for IN B-PP +the DT B-NP +night NN I-NP +-LRB- ( O +they PRP B-NP +were VBD B-VP +doing VBG I-VP +triage NN B-NP +out IN B-PP +in IN B-PP +the DT B-NP +parking NN I-NP +lot NN I-NP +from IN B-PP +the DT B-NP +sound NN I-NP +and CC I-NP +lights NNS I-NP +of IN B-PP +it PRP B-NP +-RRB- ) O +. . O + +A DT B-NP +friend NN I-NP +of IN B-PP +mine NN B-NP +was VBD B-VP +in IN B-PP +an DT B-NP +underground JJ I-NP +computer NN I-NP +center NN I-NP +in IN B-PP +downtown NN B-NP +SF NNP I-NP +when WRB B-ADVP +the DT B-NP +quake NN I-NP +hit VBD B-VP +. . O + +He PRP B-NP +said VBD B-VP +that IN B-SBAR +one CD B-NP +of IN B-PP +the DT B-NP +computers NNS I-NP +took VBD B-VP +a DT B-NP +three-foot JJ I-NP +trip NN I-NP +sliding VBG B-VP +across IN B-PP +the DT B-NP +floor NN I-NP +. . O + +Today NN B-NP +should MD B-VP +be VB I-VP +interesting JJ B-ADJP +as IN B-SBAR +people NNS B-NP +realize VBP B-VP +how WRB B-ADVP +hard JJ O +life NN B-NP +is VBZ B-VP +going VBG I-VP +to TO I-VP +be VB I-VP +here RB B-ADVP +for IN B-PP +a DT B-NP +while NN I-NP +. . O + +4:30 CD B-NP +a.m RB I-NP +. . O + +KIM NNP B-NP +: : O + +I PRP B-NP +got VBD B-VP +home NN B-NP +, , O +let VB B-VP +the DT B-NP +dogs NNS I-NP +into IN B-PP +the DT B-NP +house NN I-NP +and CC O +noticed VBD B-VP +some DT B-NP +sounds VBZ I-NP +above IN B-PP +my PRP$ B-NP +head NN I-NP +, , O +as IN B-SBAR +if IN I-SBAR +someone NN B-NP +were VBD B-VP +walking VBG I-VP +on IN B-PP +the DT B-NP +roof NN I-NP +, , O +or CC O +upstairs NN B-NP +. . O + +Then RB O +I PRP B-NP +noticed VBD B-VP +the DT B-NP +car NN I-NP +was VBD B-VP +bouncing VBG I-VP +up IN B-ADVP +and CC I-ADVP +down RB I-ADVP +as IN B-SBAR +if IN I-SBAR +someone NN B-NP +were VBD B-VP +jumping VBG I-VP +on IN B-PP +it PRP B-NP +. . O + +I PRP B-NP +realized VBD B-VP +what WP B-NP +was VBD B-VP +happening VBG I-VP +and CC O +screamed VBD B-VP +into IN B-PP +the DT B-NP +house NN I-NP +for IN B-PP +the DT B-NP +dogs NNS I-NP +. . O + +Cupboard NN B-NP +doors NNS I-NP +were VBD B-VP +flying VBG I-VP +, , O +the DT B-NP +trash NN I-NP +can MD I-NP +in IN B-PP +the DT B-NP +kitchen NN I-NP +walked VBD B-VP +a DT B-NP +few JJ I-NP +feet NNS I-NP +, , O +the DT B-NP +dogs NNS I-NP +came VBD B-VP +running VBG I-VP +, , O +and CC O +I PRP B-NP +scooted VBD B-VP +them PRP B-NP +into IN B-PP +the DT B-NP +dog NN I-NP +run NN I-NP +and CC O +stood VBD B-VP +in IN B-PP +the DT B-NP +doorway NN I-NP +myself PRP B-NP +, , O +watching VBG B-VP +the DT B-NP +outside JJ I-NP +trash NN I-NP +cans NNS I-NP +dance VBP B-VP +across IN B-PP +the DT B-NP +concrete NN I-NP +. . O + +When WRB B-ADVP +I PRP B-NP +realized VBD B-VP +it PRP B-NP +was VBD B-VP +over IN B-ADJP +, , O +I PRP B-NP +went VBD B-VP +and CC O +stood VBD B-VP +out IN B-ADVP +in IN B-PP +front NN B-NP +of IN B-PP +the DT B-NP +house NN I-NP +, , O +waiting VBG B-VP +and CC I-VP +praying VBG I-VP +for IN B-SBAR +Merrill NNP B-NP +to TO B-VP +come VB I-VP +home NN B-ADVP +, , O +shivering VBG B-VP +as IN B-SBAR +if IN I-SBAR +it PRP B-NP +were VBD B-VP +20 CD B-NP +below IN B-PP +zero CD B-NP +until IN B-SBAR +he PRP B-NP +got VBD B-VP +there RB B-ADVP +. . O + +Never RB B-ADVP +in IN B-PP +my PRP$ B-NP +life NN I-NP +have VBP O +I PRP B-NP +been VBN B-VP +so RB B-ADJP +frightened VBN I-ADJP +. . O + +When WRB B-ADVP +I PRP B-NP +saw VBD B-VP +the DT B-NP +pictures NNS I-NP +of IN B-PP +880 CD B-NP +and CC O +the DT B-NP +Bay NNP I-NP +Bridge NNP I-NP +, , O +I PRP B-NP +began VBD B-VP +to TO I-VP +cry VB I-VP +. . O + +5:09 CD B-NP +a.m RB I-NP +. . O + +JROE NNP B-NP +: : O + +The DT B-NP +Sunset NNP I-NP +-LCB- ( I-NP +District NNP I-NP +-RCB- ) O +was VBD B-VP +more JJR B-ADVP +or CC I-ADVP +less JJR I-ADVP +like IN B-PP +a DT B-NP +pajama NN I-NP +party NN I-NP +all DT B-NP +evening NN I-NP +, , O +lots NNS B-NP +of IN B-PP +people NNS B-NP +& CC I-NP +dogs NNS I-NP +walking VBG B-VP +around IN B-ADVP +, , O +drinking NN B-VP +beer NN B-NP +. . O + +6:50 CD B-NP +a.m RB I-NP +. . O + +CAROLG NNP B-NP +: : O + +I PRP B-NP +was VBD B-VP +just RB I-VP +sitting VBG I-VP +down RB B-PRT +to TO B-VP +meet VB I-VP +with IN B-PP +some DT B-NP +new JJ I-NP +therapy NN I-NP +clients NNS I-NP +, , O +a DT B-NP +couple NN I-NP +, , O +and CC O +the DT B-NP +building NN I-NP +started VBD B-VP +shaking VBG I-VP +like IN B-PP +crazy JJ B-ADJP +. . O + +It PRP B-NP +'s VBZ B-VP +a DT B-NP +flimsy JJ I-NP +structure NN I-NP +, , O +built VBN B-VP +up IN B-PP +on IN B-PP +supports VBZ B-NP +, , O +and CC O +it PRP B-NP +was VBD B-VP +really RB I-VP +rocking VBG I-VP +around RB B-ADVP +. . O + +The DT B-NP +three CD I-NP +of IN B-PP +us PRP B-NP +stopped VBD B-VP +breathing NN I-VP +for IN B-PP +a DT B-NP +moment NN I-NP +, , O +and CC O +then RB O +when WRB B-ADVP +it PRP B-NP +kept VBD B-VP +on IN B-PRT +coming VBG B-VP +we PRP B-NP +lunged VBD B-VP +for IN B-PP +the DT B-NP +doorway NN I-NP +. . O + +Needless JJ B-ADJP +to TO B-VP +say VB I-VP +, , O +it PRP B-NP +was VBD B-VP +an DT B-NP +interesting JJ I-NP +first JJ I-NP +session NN I-NP +! . O + +7:13 CD B-NP +a.m RB I-NP +. . O + +CALLIOPE NNP B-NP +: : O + +Albany NNP B-NP +escaped VBD B-VP +embarrassingly RB B-ADJP +unscathed JJ I-ADJP +. . O + +Biggest JJS B-NP +trouble NN I-NP +was VBD B-VP +scared VBN B-NP +family NN I-NP +who WP B-NP +could MD B-VP +n't RB I-VP +get VB I-VP +a DT B-NP +phone NN I-NP +line NN I-NP +through IN B-ADVP +, , O +and CC O +spent VBD B-VP +a DT B-NP +really RB I-NP +horrible JJ I-NP +hour NN I-NP +not RB O +knowing VBG B-VP +. . O + +8:01 CD B-NP +a.m RB I-NP +. . O + +HLR NNP B-NP +: : O + +Judy NNP B-NP +and CC I-NP +I PRP I-NP +were VBD B-VP +in IN B-PP +our PRP$ B-NP +back JJ I-NP +yard NN I-NP +when WRB B-ADVP +the DT B-NP +lawn NN I-NP +started VBD B-VP +rolling VBG I-VP +like IN B-PP +ocean NN B-NP +waves NNS I-NP +. . O + +We PRP B-NP +ran VBD B-VP +into IN B-PP +the DT B-NP +house NN I-NP +to TO B-VP +get VB I-VP +Mame NNP B-NP +, , O +but CC O +the DT B-NP +next JJ I-NP +tremor NN I-NP +threw VBD B-VP +me PRP B-NP +in IN B-PP +the DT B-NP +air NN I-NP +and CC O +bounced VBD B-VP +me PRP B-NP +as IN B-SBAR +I PRP B-NP +tried VBD B-VP +to TO I-VP +get VB I-VP +to TO B-PP +my PRP$ B-NP +feet NNS I-NP +. . O + +We PRP B-NP +are VBP B-VP +all DT O +fine JJ B-ADJP +here RB B-ADVP +, , O +although IN B-SBAR +Mame NNP B-NP +was VBD B-VP +extremely RB B-ADJP +freaked VBN I-ADJP +. . O + +Kitchen NNP B-NP +full JJ B-ADJP +of IN B-PP +broken VBN B-NP +crystal NN I-NP +. . O + +Books NNS B-NP +and CC I-NP +tapes NNS I-NP +all DT B-ADVP +over IN B-PP +my PRP$ B-NP +room NN I-NP +. . O + +Not RB B-NP +one CD I-NP +thing NN I-NP +in IN B-PP +the DT B-NP +house NN I-NP +is VBZ B-VP +where WRB B-ADVP +it PRP B-NP +is VBZ B-VP +supposed VBN I-VP +to TO I-VP +be VB I-VP +, , O +but CC O +the DT B-NP +structure NN I-NP +is VBZ B-VP +fine JJ B-ADJP +. . O + +While IN B-SBAR +I PRP B-NP +was VBD B-VP +standing VBG I-VP +on IN B-PP +the DT B-NP +lawn NN I-NP +with IN B-PP +Mame NNP B-NP +, , O +waiting VBG B-VP +for IN B-PP +another DT B-NP +tremor NN I-NP +, , O +I PRP B-NP +noticed VBD B-VP +that IN B-SBAR +all PDT B-NP +the DT I-NP +earthworms NNS I-NP +were VBD B-VP +emerging VBG I-VP +from IN B-PP +the DT B-NP +ground NN I-NP +and CC O +slithering VBG B-VP +across IN B-PP +the DT B-NP +lawn NN I-NP +! . O + +9:31 CD B-NP +a.m. NN I-NP + +GR8FLRED CD B-NP +: : O + +It PRP B-NP +'s VBZ B-VP +amazing JJ B-ADJP +how WRB B-ADVP +one CD B-NP +second JJ I-NP +can MD B-VP +so RB I-VP +completely RB I-VP +change VB I-VP +your PRP$ B-NP +life NN I-NP +. . O + +9:38 CD B-NP +a.m RB I-NP +. . O + +FIG NNP B-NP +: : O + +I PRP B-NP +guess VBP B-VP +we PRP B-NP +'re VBP B-VP +all DT O +living VBG B-VP +very RB B-ADVP +tentatively RB I-ADVP +here RB B-ADVP +, , O +waiting VBG B-VP +for IN B-PP +the DT B-NP +expected VBN I-NP +but CC I-NP +dreaded VBN I-NP +aftershock NN I-NP +. . O + +It PRP B-NP +'s VBZ B-VP +hard JJ B-ADJP +to TO B-VP +accept VB I-VP +that IN B-SBAR +it PRP B-NP +'s VBZ B-VP +over IN B-ADVP +and CC O +only RB B-VP +took VBD I-VP +15 CD B-NP +seconds NNS I-NP +. . O + +I PRP B-NP +wonder VBP B-VP +when WRB B-ADVP +we PRP B-NP +'ll MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +relax VB I-VP +. . O + +9:53 CD B-NP +a.m RB I-NP +. . O + +PANDA NNP B-NP +: : O + +Flesh NN B-NP +goes VBZ B-VP +to TO B-PP +total VB B-NP +alert JJ I-NP +for IN B-PP +flight NN B-NP +or CC I-NP +fight NN I-NP +. . O + +Nausea NN B-NP +seems VBZ B-VP +a DT B-NP +commonplace JJ I-NP +symptom NN I-NP +. . O + +Berkeley NNP B-NP +very RB B-ADJP +quiet JJ I-ADJP +right RB B-ADVP +now RB I-ADVP +. . O + +I PRP B-NP +walked VBD B-VP +along IN B-PP +Shattuck NNP B-NP +between IN B-PP +Delaware NNP B-NP +and CC I-NP +Cedar NNP I-NP +at IN B-PP +a DT B-NP +few JJ I-NP +minutes NNS I-NP +before IN B-PP +eight CD B-NP +this DT B-NP +morning NN I-NP +. . O + +Next JJ B-ADVP +to TO B-PP +Chez NNP B-NP +Panisse NNP I-NP +a DT B-NP +homeless JJ I-NP +couple NN I-NP +, , O +bundled VBN B-VP +into IN B-PP +a DT B-NP +blue JJ I-NP +sleeping NN I-NP +bag NN I-NP +, , O +sat VBD B-VP +up IN B-PRT +, , O +said VBD B-VP +, , O +`` `` O +Good JJ B-INTJ +morning NN I-INTJ +'' '' O +and CC O +then RB O +the DT B-NP +woman NN I-NP +smiled VBD B-VP +, , O +said VBD B-VP +, , O +`` `` O +Is VBZ O +n't RB O +it PRP B-NP +great JJ B-ADJP +just RB B-ADVP +to TO B-VP +be VB I-VP +alive JJ B-ADJP +? . O +'' '' O + +I PRP B-NP +agreed VBD B-VP +. . O + +It PRP B-NP +is VBZ B-VP +. . O + +Great NNP B-ADJP +. . O + +Georgia-Pacific NNP B-NP +Corp. NNP I-NP +, , O +exceeding VBG B-VP +some DT B-NP +analysts NNS I-NP +' POS B-NP +expectations NNS I-NP +, , O +said VBD B-VP +third-quarter JJ B-NP +earnings NNS I-NP +rose VBD B-VP +56 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +178 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +2.03 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +114 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.19 CD I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +the DT B-NP +year-earlier JJ I-NP +period NN I-NP +. . O + +Sales NNS B-NP +increased VBN B-VP +10 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +2.65 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +2.41 CD I-NP +billion CD I-NP +. . O + +Per-share JJ B-NP +earnings NNS I-NP +were VBD B-VP +enhanced VBN I-VP +by IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +share NN I-NP +buy-back NN I-NP +program NN I-NP +, , O +which WDT B-NP +reduced VBD B-VP +the DT B-NP +average JJ I-NP +shares NNS I-NP +outstanding JJ B-ADJP +to TO B-PP +87.5 CD B-NP +million CD I-NP +in IN B-PP +the DT B-NP +quarter NN I-NP +from IN B-PP +95.8 CD B-NP +million CD I-NP +in IN B-PP +the DT B-NP +same JJ I-NP +quarter NN I-NP +of IN B-PP +1988 CD B-NP +. . O + +With IN B-PP +strong JJ B-NP +prices NNS I-NP +in IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +two CD I-NP +major JJ I-NP +areas NNS I-NP +-- : O +building NN B-NP +products NNS I-NP +as RB B-NP +well RB I-NP +as IN I-NP +pulp NN B-NP +and CC I-NP +paper NN I-NP +-- : O +analysts NNS B-NP +had VBD B-VP +expected VBN I-VP +a DT B-NP +roaring VBG I-NP +quarter NN I-NP +. . O + +But CC O +the DT B-NP +performance NN I-NP +exceeded VBD B-VP +some DT B-NP +estimates NNS I-NP +of IN B-PP +around IN B-NP +$ $ I-NP +1.90 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Fueling VBG B-VP +the DT B-NP +growth NN I-NP +, , O +among IN B-PP +other JJ B-NP +things NNS I-NP +, , O +were VBD B-VP +higher-than-expected JJ B-NP +prices NNS I-NP +for IN B-PP +certain JJ B-NP +building NN I-NP +products NNS I-NP +. . O + +One CD B-NP +reason NN I-NP +: : O +efforts NNS B-NP +to TO B-VP +protect VB I-VP +the DT B-NP +spotted VBN I-NP +owl NN I-NP +led VBN B-VP +to TO B-PP +restrictions NNS B-NP +on IN B-PP +logging NN B-NP +in IN B-PP +the DT B-NP +Pacific NNP I-NP +Northwest NNP I-NP +, , O +constricting VBG B-VP +supply NN B-NP +and CC O +forcing VBG B-VP +prices NNS B-NP +up RB B-ADVP +. . O + +Another DT B-NP +reason NN I-NP +: : O +strikes NNS B-NP +, , O +both DT B-PP +at IN I-PP +Georgia-Pacific NNP B-NP +and CC O +other JJ B-NP +lumber NN I-NP +companies NNS I-NP +also RB B-ADVP +cut VBP B-VP +supplies NNS B-NP +and CC O +raised VBN B-VP +prices NNS B-NP +, , O +analysts NNS B-NP +said VBD B-VP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +Georgia-Pacific NNP B-NP +'s POS B-NP +earnings NNS I-NP +increased VBN B-VP +49 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +504 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +5.58 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +338 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +3.41 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Sales NNS B-NP +rose VBD B-VP +11 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +7.73 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +6.94 CD I-NP +billion CD I-NP +. . O + +In IN B-PP +composite JJ B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +Trading NN I-NP +, , O +Georgia-Pacific NNP B-NP +stock NN I-NP +rose VBD B-VP +$ $ B-NP +1.25 CD I-NP +a DT B-NP +share NN I-NP +yesterday NN B-NP +to TO B-VP +close VB I-VP +at IN B-PP +$ $ B-NP +58 CD I-NP +. . O + +The DT B-NP +House NNP I-NP +Public NNP I-NP +Works NNP I-NP +and CC I-NP +Transportation NNP I-NP +Committee NNP I-NP +approved VBD B-VP +a DT B-NP +bill NN I-NP +that WDT B-NP +would MD B-VP +give VB I-VP +the DT B-NP +Transportation NNP I-NP +Department NNP I-NP +power NN B-NP +to TO B-VP +block VB I-VP +airline NN B-NP +leveraged JJ I-NP +buy-outs NNS I-NP +, , O +despite IN B-PP +a DT B-NP +clear JJ I-NP +veto NN I-NP +threat NN I-NP +from IN B-PP +the DT B-NP +Bush NNP I-NP +administration NN I-NP +. . O + +The DT B-NP +23-5 JJ I-NP +vote NN I-NP +clears VBZ B-VP +the DT B-NP +way NN I-NP +for IN B-PP +consideration NN B-NP +on IN B-PP +the DT B-NP +House NNP I-NP +floor NN I-NP +next JJ B-NP +week NN I-NP +or CC O +the DT B-NP +week NN I-NP +after RB B-ADJP +. . O + +Transportation NNP B-NP +Secretary NNP I-NP +Samuel NNP I-NP +Skinner NNP I-NP +, , O +in IN B-PP +a DT B-NP +letter NN I-NP +to TO B-PP +the DT B-NP +committee NN I-NP +, , O +warned VBD B-VP +that IN B-SBAR +he PRP B-NP +would MD B-VP +urge VB I-VP +President NNP B-NP +Bush NNP I-NP +to TO B-VP +veto VB I-VP +the DT B-NP +legislation NN I-NP +if IN B-SBAR +it PRP B-NP +passed VBD B-VP +Congress NNP B-NP +. . O + +The DT B-NP +Senate NNP I-NP +Commerce NNP I-NP +Committee NNP I-NP +already RB B-ADVP +has VBZ B-VP +approved VBN I-VP +similar JJ B-NP +legislation NN I-NP +. . O + +On IN B-PP +Monday NNP B-NP +, , O +a DT B-NP +letter NN I-NP +from IN B-PP +Mr. NNP B-NP +Skinner NNP I-NP +'s POS B-NP +deputy NN I-NP +, , O +Elaine NNP B-NP +Chao NNP I-NP +, , O +said VBD B-VP +the DT B-NP +administration NN I-NP +opposed VBD B-VP +the DT B-NP +legislation NN I-NP +`` `` O +in IN B-PP +its PRP$ B-NP +present JJ I-NP +form NN I-NP +. . O +'' '' O + +Some DT B-NP +of IN B-PP +the DT B-NP +bill NN I-NP +'s POS B-NP +supporters NNS I-NP +had VBD B-VP +taken VBN I-VP +heart NN B-NP +from IN B-PP +the DT B-NP +fact NN I-NP +that IN B-SBAR +the DT B-NP +letter NN I-NP +was VBD B-VP +n't RB I-VP +signed VBN I-VP +by IN B-PP +Mr. NNP B-NP +Skinner NNP I-NP +and CC O +that IN B-SBAR +it PRP B-NP +did VBD B-VP +n't RB I-VP +contain VB I-VP +a DT B-NP +veto NN I-NP +threat NN I-NP +. . O + +The DT B-NP +stepped-up JJ I-NP +administration NN I-NP +warnings NNS I-NP +annoyed VBD B-VP +some DT B-NP +lawmakers NNS I-NP +, , O +especially RB B-NP +senior JJ I-NP +Republicans NNPS I-NP +who WP B-NP +supported VBD B-VP +the DT B-NP +bill NN I-NP +because IN B-SBAR +they PRP B-NP +thought VBD B-VP +the DT B-NP +Transportation NNP I-NP +Department NNP I-NP +favored VBD B-VP +it PRP B-NP +. . O + +`` `` O +We PRP B-NP +backed VBD B-VP +this DT B-NP +bill NN I-NP +because IN B-SBAR +we PRP B-NP +thought VBD B-VP +it PRP B-NP +would MD B-VP +help VB I-VP +Skinner NNP B-NP +, , O +'' '' O +one CD B-NP +Republican NNP I-NP +said VBD B-VP +, , O +`` `` O +and CC O +now RB B-ADVP +we PRP B-NP +'re VBP B-VP +out IN B-ADVP +there RB I-ADVP +dangling VBG B-VP +in IN B-PP +the DT B-NP +wind NN I-NP +. . O +'' '' O + +A DT B-NP +few JJ I-NP +weeks NNS I-NP +ago RB B-ADVP +, , O +Mr. NNP B-NP +Skinner NNP I-NP +testified VBD B-VP +before IN B-PP +Congress NNP B-NP +that IN B-SBAR +it PRP B-NP +would MD B-VP +be VB I-VP +`` `` O +cleaner JJR B-ADJP +, , O +more RBR B-ADJP +efficient JJ I-ADJP +'' '' O +if IN B-SBAR +he PRP B-NP +had VBD B-VP +authority NN B-NP +to TO B-VP +block VB I-VP +buy-outs NNS B-NP +in IN B-PP +advance NN B-NP +. . O + +But CC O +he PRP B-NP +never RB B-VP +took VBD I-VP +an DT B-NP +official JJ I-NP +position NN I-NP +on IN B-PP +the DT B-NP +bill NN I-NP +and CC O +has VBZ B-VP +steadfastly RB I-VP +maintained VBN I-VP +that IN B-SBAR +he PRP B-NP +already RB B-ADVP +has VBZ B-VP +enough JJ B-NP +authority NN I-NP +to TO B-VP +deal VB I-VP +with IN B-PP +buy-outs NNS B-NP +. . O + +Under IN B-PP +the DT B-NP +committee NN I-NP +bill NN I-NP +, , O +the DT B-NP +Transportation NNP I-NP +secretary NN I-NP +would MD B-VP +have VB I-VP +30 CD B-NP +days NNS I-NP +, , O +and CC O +an DT B-NP +additional JJ I-NP +20 CD I-NP +days NNS I-NP +if IN B-SBAR +needed VBN B-VP +, , O +to TO B-VP +review VB I-VP +any DT B-NP +proposed VBN I-NP +purchase NN I-NP +of IN B-PP +15 CD B-NP +% NN I-NP +or CC I-NP +more JJR I-NP +of IN B-PP +a DT B-NP +major JJ I-NP +U.S. NNP I-NP +airline NN I-NP +'s POS B-NP +voting NN I-NP +stock NN I-NP +. . O + +The DT B-NP +secretary NN I-NP +would MD B-VP +be VB I-VP +required VBN I-VP +to TO I-VP +block VB I-VP +an DT B-NP +acquisition NN I-NP +if IN B-SBAR +he PRP B-NP +concluded VBD B-VP +that IN B-SBAR +it PRP B-NP +would MD B-VP +so RB I-VP +weaken VB I-VP +an DT B-NP +airline NN I-NP +financially RB B-ADVP +that IN B-SBAR +it PRP B-NP +would MD B-VP +hurt VB I-VP +safety VB B-NP +or CC O +reduce VB B-VP +the DT B-NP +carrier NN I-NP +'s POS B-NP +ability NN I-NP +to TO B-VP +compete VB I-VP +, , O +or CC O +if IN B-SBAR +it PRP B-NP +gave VBD B-VP +control NN B-NP +to TO B-PP +a DT B-NP +foreign JJ I-NP +interest NN I-NP +. . O + +Although IN B-SBAR +the DT B-NP +legislation NN I-NP +would MD B-VP +apply VB I-VP +to TO B-PP +any DT B-NP +acquisition NN I-NP +of IN B-PP +a DT B-NP +major JJ I-NP +airline NN I-NP +, , O +it PRP B-NP +is VBZ B-VP +aimed VBN I-VP +at IN B-PP +transactions NNS B-NP +financed VBN B-VP +by IN B-PP +large JJ B-NP +amounts NNS I-NP +of IN B-PP +debt NN B-NP +. . O + +Supporters NNS B-NP +of IN B-PP +the DT B-NP +bill NN I-NP +are VBP B-VP +concerned VBN B-ADJP +an DT B-NP +airline NN I-NP +might MD B-VP +sacrifice VB I-VP +costly JJ B-NP +safety NN I-NP +measures NNS I-NP +in IN B-SBAR +order NN O +to TO B-VP +repay VB I-VP +debt NN B-NP +. . O + +The DT B-NP +panel NN I-NP +'s POS B-NP +action NN I-NP +occurs VBZ B-VP +in IN B-PP +a DT B-NP +politically RB I-NP +charged VBN I-NP +atmosphere NN I-NP +surrounding VBG B-VP +recent JJ B-NP +buy-out NN I-NP +proposals NNS I-NP +, , O +their PRP$ B-NP +apparent JJ I-NP +collapse NN I-NP +and CC O +the DT B-NP +volatile JJ I-NP +conditions NNS I-NP +in IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +. . O + +`` `` O +It PRP B-NP +became VBD B-VP +apparent JJ B-ADJP +in IN B-PP +hearings NNS B-NP +that IN B-SBAR +there EX B-NP +ought MD B-VP +to TO I-VP +be VB I-VP +regulation NN B-NP +of IN B-PP +leveraged JJ B-NP +buy-outs NNS I-NP +of IN B-PP +some DT B-NP +sort NN I-NP +, , O +'' '' O +Rep. NNP B-NP +James NNP I-NP +Oberstar NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Minn. NNP B-NP +-RRB- ) O +, , O +chairman NN B-NP +of IN B-PP +the DT B-NP +House NNP I-NP +Aviation NNP I-NP +Subcommittee NNP I-NP +, , O +said VBD B-VP +during IN B-PP +the DT B-NP +panel NN I-NP +'s POS B-NP +deliberations NNS I-NP +. . O + +`` `` O +I PRP B-NP +do VBP B-VP +n't RB I-VP +believe VB I-VP +in IN B-PP +the DT B-NP +airline NN I-NP +business NN I-NP +you PRP B-NP +can MD B-VP +be VB I-VP +totally RB B-ADJP +laissez-faire FW I-ADJP +because IN B-PP +of IN I-PP +the DT B-NP +high JJ I-NP +degree NN I-NP +of IN B-PP +public JJ B-NP +interest NN I-NP +'' '' O +at IN B-PP +stake NN B-NP +. . O + +But CC O +Mr. NNP B-NP +Skinner NNP I-NP +disagreed VBD B-VP +, , O +calling VBG B-VP +the DT B-NP +legislation NN I-NP +`` `` O +a DT B-NP +retreat NN I-NP +from IN B-PP +the DT B-NP +policy NN I-NP +of IN B-PP +deregulaton NN B-NP +of IN B-PP +the DT B-NP +airline NN I-NP +industry NN I-NP +. . O +'' '' O + +In IN B-PP +his PRP$ B-NP +letter NN I-NP +to TO B-PP +Committee NNP B-NP +Chairman NNP I-NP +Glenn NNP I-NP +Anderson NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Calif. NNP B-NP +-RRB- ) O +, , O +the DT B-NP +secretary NN I-NP +also RB B-ADVP +said VBD B-VP +the DT B-NP +bill NN I-NP +`` `` O +would MD B-VP +be VB I-VP +at IN B-PP +odds NNS B-NP +with IN B-PP +the DT B-NP +administration NN I-NP +'s POS B-NP +policies NNS I-NP +welcoming VBG B-VP +open JJ B-NP +foreign JJ I-NP +investment NN I-NP +and CC O +market NN B-NP +allocation NN I-NP +of IN B-PP +resources NNS B-NP +. . O +'' '' O + +Currently RB B-ADVP +, , O +the DT B-NP +Transportation NNP I-NP +Department NNP I-NP +does VBZ B-VP +n't RB I-VP +have VB I-VP +the DT B-NP +authority NN I-NP +to TO B-VP +block VB I-VP +a DT B-NP +takeover NN I-NP +in IN B-PP +advance NN B-NP +. . O + +However RB B-ADVP +, , O +if IN B-SBAR +the DT B-NP +secretary NN I-NP +concludes VBZ B-VP +that IN B-SBAR +a DT B-NP +transaction NN I-NP +has VBZ B-VP +made VBN I-VP +a DT B-NP +carrier NN I-NP +unfit JJ B-ADJP +to TO B-VP +operate VB I-VP +, , O +the DT B-NP +department NN I-NP +may MD B-VP +revoke VB I-VP +its PRP$ B-NP +certificate NN I-NP +, , O +grounding VBG B-VP +the DT B-NP +airline NN I-NP +. . O + +Such JJ B-NP +authority NN I-NP +is VBZ B-VP +more JJR B-ADJP +than IN B-PP +adequate JJ B-ADJP +, , O +say VBP B-VP +opponents NNS B-NP +of IN B-PP +the DT B-NP +legislation NN I-NP +. . O + +But CC O +supporters NNS B-NP +argue VBP B-VP +that IN B-SBAR +grounding VBG B-VP +an DT B-NP +airline NN I-NP +is VBZ B-VP +so RB B-ADJP +drastic JJ I-ADJP +that IN B-SBAR +the DT B-NP +department NN I-NP +would MD B-VP +hesitate VB I-VP +doing VBG I-VP +it PRP B-NP +. . O + +The DT B-NP +panel NN I-NP +rejected VBD B-VP +a DT B-NP +proposal NN I-NP +pushed VBN B-VP +by IN B-PP +AMR NNP B-NP +Corp. NNP I-NP +, , O +the DT B-NP +parent NN I-NP +of IN B-PP +American NNP B-NP +Airlines NNPS I-NP +, , O +to TO B-VP +allow VB I-VP +the DT B-NP +Transportation NNP I-NP +secretary NN I-NP +to TO B-VP +block VB I-VP +corporate JJ B-NP +raiders NNS I-NP +from IN B-PP +waging VBG B-VP +proxy NN B-NP +fights NNS I-NP +to TO B-VP +oust VB I-VP +boards NNS B-NP +that WDT B-NP +oppose VBP B-VP +a DT B-NP +leveraged JJ I-NP +buy-out NN I-NP +. . O + +It PRP B-NP +also RB B-ADVP +voted VBD B-VP +down JJ B-PRT +proposals NNS B-NP +to TO B-VP +give VB I-VP +the DT B-NP +secretary NN I-NP +much RB B-NP +more JJR I-NP +discretion NN I-NP +on IN B-PP +whether IN B-SBAR +to TO B-VP +block VB I-VP +a DT B-NP +buy-out NN I-NP +and CC O +to TO B-VP +require VB I-VP +the DT B-NP +department NN I-NP +to TO B-VP +consider VB I-VP +the DT B-NP +impact NN I-NP +of IN B-PP +a DT B-NP +buy-out NN I-NP +on IN B-PP +workers NNS B-NP +. . O + +London JJ B-NP +shares NNS I-NP +rallied VBD B-VP +to TO B-VP +post VB I-VP +strong JJ B-NP +gains NNS I-NP +after IN B-SBAR +initial JJ B-NP +fears NNS I-NP +evaporated VBD B-VP +that IN B-SBAR +the DT B-NP +California NNP I-NP +earthquake NN I-NP +would MD B-VP +depress VB I-VP +Wall NNP B-NP +Street NNP I-NP +prices NNS I-NP +. . O + +Tokyo NNP B-NP +stocks NNS I-NP +, , O +which WDT B-NP +rebounded VBD B-VP +strongly RB B-ADVP +Tuesday NNP B-NP +, , O +extended VBD B-VP +their PRP$ B-NP +gains NNS I-NP +yesterday NN B-NP +, , O +but CC O +most RBS B-NP +other JJ I-NP +Asian JJ I-NP +and CC I-NP +Pacific NNP I-NP +markets NNS I-NP +closed VBD B-VP +sharply RB B-ADJP +lower JJR I-ADJP +. . O + +In IN B-PP +London NNP B-NP +, , O +the DT B-NP +Financial NNP I-NP +Times-Stock NNP I-NP +Exchange NNP I-NP +100-share JJ I-NP +index NN I-NP +jumped VBD B-VP +34.6 CD B-NP +points NNS I-NP +to TO B-VP +close VB I-VP +at IN B-PP +its PRP$ B-NP +intraday JJ I-NP +high NN I-NP +of IN B-PP +2170.1 CD B-NP +. . O + +The DT B-NP +index NN I-NP +was VBD B-VP +under IN B-PP +pressure NN B-NP +for IN B-PP +most RBS B-NP +of IN B-PP +the DT B-NP +morning NN I-NP +over IN B-PP +concerns NNS B-NP +that IN B-SBAR +the DT B-NP +effects NNS I-NP +of IN B-PP +Tuesday NNP B-NP +night NN I-NP +'s POS B-NP +major JJ I-NP +earthquake NN I-NP +in IN B-PP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +area NN I-NP +would MD B-VP +undermine VB I-VP +the DT B-NP +U.S. NNP I-NP +market NN I-NP +. . O + +The DT B-NP +mood NN I-NP +changed VBN B-VP +after IN B-SBAR +dealers NNS B-NP +reappraised VBD B-VP +the DT B-NP +direct JJ I-NP +impact NN I-NP +of IN B-PP +the DT B-NP +disaster NN I-NP +on IN B-PP +shares NNS B-NP +and CC O +Wall NNP B-NP +Street NNP I-NP +rebounded VBD B-VP +from IN B-PP +early JJ B-NP +losses NNS I-NP +. . O + +The DT B-NP +Financial NNP I-NP +Times NNP I-NP +30-share JJ I-NP +index NN I-NP +settled VBD B-VP +27.8 CD B-NP +points NNS I-NP +higher JJR B-ADJP +at IN B-PP +1758.5 CD B-NP +. . O + +Volume NN B-NP +was VBD B-VP +449.3 CD B-NP +million CD I-NP +shares NNS I-NP +, , O +the DT B-NP +slowest JJS I-NP +of IN B-PP +a DT B-NP +hectic JJ I-NP +week NN I-NP +, , O +compared VBN B-PP +with IN B-PP +643.4 CD B-NP +million CD I-NP +Tuesday NNP B-NP +. . O + +U.K. NNP B-NP +composite JJ I-NP +, , I-NP +or CC I-NP +non-life JJ I-NP +, , I-NP +insurers NNS I-NP +, , O +which WDT B-NP +some DT B-NP +equity NN I-NP +analysts NNS I-NP +said VBD B-VP +might MD B-VP +be VB I-VP +heavily RB I-VP +hit VBN I-VP +by IN B-PP +the DT B-NP +earthquake NN I-NP +disaster NN I-NP +, , O +helped VBD B-VP +support NN I-VP +the DT B-NP +London NNP I-NP +market NN I-NP +by IN B-PP +showing VBG B-VP +only RB B-NP +narrow JJ I-NP +losses NNS I-NP +in IN B-PP +early JJ B-NP +trading NN I-NP +. . O + +The DT B-NP +insurers NNS I-NP +' POS B-NP +relative JJ I-NP +resilience NN I-NP +gave VBD B-VP +the DT B-NP +market NN I-NP +time NN B-NP +to TO B-VP +reappraise VB I-VP +the DT B-NP +impact NN I-NP +of IN B-PP +the DT B-NP +California NNP I-NP +disaster NN I-NP +on IN B-PP +U.K. NNP B-NP +equities NNS I-NP +, , O +dealers NNS B-NP +said VBD B-VP +. . O + +Dealers NNS B-NP +said VBD B-VP +the DT B-NP +market NN I-NP +still RB B-ADVP +has VBZ B-VP +n't RB I-VP +shaken VBN I-VP +off IN B-PRT +its PRP$ B-NP +nervousness NN I-NP +after IN B-PP +its PRP$ B-NP +bumpy JJ I-NP +ride NN I-NP +of IN B-PP +the DT B-NP +past JJ I-NP +several JJ I-NP +sessions NNS I-NP +, , O +caused VBN B-VP +by IN B-PP +interest-rate NN B-NP +increases NNS I-NP +last JJ B-NP +week NN I-NP +and CC O +Wall NNP B-NP +Street NNP I-NP +'s POS B-NP +6.9 CD B-ADJP +% NN I-ADJP +plunge NN B-NP +Friday NNP B-NP +. . O + +But CC O +technical JJ B-NP +factors NNS I-NP +, , O +including VBG B-PP +modest JJ B-NP +gains NNS I-NP +in IN B-PP +the DT B-NP +value NN I-NP +of IN B-PP +the DT B-NP +pound NN I-NP +, , O +helped VBD B-VP +draw VB I-VP +buying VBG B-NP +back RB B-ADVP +into IN B-PP +the DT B-NP +market NN I-NP +and CC O +reverse VB B-VP +losses NNS B-NP +posted VBD B-VP +a DT B-NP +day NN I-NP +earlier RBR B-ADVP +. . O + +Among IN B-PP +composite JJ B-NP +insurers NNS I-NP +, , O +General NNP B-NP +Accident NNP I-NP +rose VBD B-VP +10 CD B-NP +pence NN I-NP +to TO B-PP +# # B-NP +10.03 CD I-NP +-LRB- ( O +$ $ B-NP +15.80 CD I-NP +-RRB- ) O +a DT B-NP +share NN I-NP +, , O +Guardian NNP B-NP +Royal NNP I-NP +climbed VBD B-VP +5 NN B-NP +to TO B-PP +217 CD B-NP +pence NN I-NP +, , O +Sun NNP B-NP +Alliance NNP I-NP +rose VBD B-VP +3 CD B-NP +to TO B-PP +290 CD B-NP +, , O +and CC O +Royal NNP B-NP +Insurance NNP I-NP +jumped VBD B-VP +12 CD B-NP +to TO B-PP +450 CD B-NP +. . O + +Life NN B-NP +insurers NNS I-NP +fared VBD B-VP +similarly RB B-ADVP +, , O +with IN B-PP +Legal NNP B-NP +& CC I-NP +General NNP I-NP +advancing VBG B-VP +3 CD B-NP +to TO B-PP +344 CD B-NP +, , O +although IN B-SBAR +Prudential NNP B-NP +fell VBD B-VP +2 CD B-NP +to TO B-PP +184 CD B-NP +1\/2 CD I-NP +. . O + +Pearl NNP B-NP +Group NNP I-NP +rose VBD B-VP +5 NN B-NP +to TO B-PP +628 CD B-NP +, , O +and CC O +Sun NNP B-NP +Life NNP I-NP +finished VBD B-VP +unchanged JJ B-ADJP +at IN B-PP +# # B-NP +10.98 CD I-NP +. . O + +Most JJS B-NP +banking NN I-NP +issues NNS I-NP +retreated VBD B-VP +after IN B-PP +a DT B-NP +sector NN I-NP +downgrade NN I-NP +by IN B-PP +Warburg NNP B-NP +Securities NNP I-NP +, , O +although IN B-SBAR +National NNP B-NP +Westminister NNP I-NP +showed VBD B-VP +strength NN B-NP +on IN B-PP +positive JJ B-NP +comments NNS I-NP +from IN B-PP +brokerage NN B-NP +firms NNS I-NP +about IN B-PP +its PRP$ B-NP +long-term JJ I-NP +prospects NNS I-NP +. . O + +NatWest NNP B-NP +, , O +the DT B-NP +most RBS I-NP +actively RB I-NP +traded VBN I-NP +of IN B-PP +the DT B-NP +banks NNS I-NP +, , O +finished VBD B-VP +at IN B-PP +300 CD B-NP +, , O +up IN B-ADVP +1 CD B-NP +. . O + +B.A.T NNP B-NP +Industries NNPS I-NP +fell VBD B-VP +in IN B-PP +early JJ B-NP +dealings NNS I-NP +but CC O +recovered VBD B-VP +to TO B-VP +finish VB I-VP +at IN B-PP +754 CD B-NP +, , O +up IN B-ADVP +5 NN B-NP +. . O + +Dealers NNS B-NP +said VBD B-VP +the DT B-NP +market NN I-NP +was VBD B-VP +nervous JJ B-ADJP +ahead RB B-ADVP +of IN B-PP +a DT B-NP +special JJ I-NP +B.A.T NNP I-NP +holders NNS I-NP +' POS B-NP +meeting NN I-NP +today NN B-NP +. . O + +The DT B-NP +session NN I-NP +is VBZ B-VP +to TO B-VP +consider VB I-VP +a DT B-NP +defensive JJ I-NP +plan NN I-NP +to TO B-VP +spin VB I-VP +off IN B-PRT +assets NNS B-NP +to TO B-VP +fend VB I-VP +off IN B-PRT +Sir NNP B-NP +James NNP I-NP +Goldsmith NNP I-NP +'s POS B-NP +# # B-ADJP +13.4 CD O +billion CD O +bid NN B-NP +for IN B-PP +B.A.T NNP B-NP +. . O + +The DT B-NP +recent JJ I-NP +stock NN I-NP +market NN I-NP +drop NN I-NP +has VBZ B-VP +shaken VBN I-VP +confidence NN B-NP +in IN B-PP +the DT B-NP +plan NN I-NP +, , O +but CC O +dealers NNS B-NP +said VBD B-VP +the DT B-NP +shares NNS I-NP +fell VBD B-VP +initially RB B-ADVP +on IN B-PP +questions NNS B-NP +about IN B-PP +whether IN B-SBAR +Mr. NNP B-NP +Goldsmith NNP I-NP +'s POS B-NP +highly RB B-ADJP +leveraged JJ I-ADJP +bid NN B-NP +will MD B-VP +come VB I-VP +to TO B-PP +fruition NN B-NP +. . O + +Trading NN B-NP +was VBD B-VP +suspended VBN I-VP +in IN B-PP +WCRS NNP B-NP +Group NNP I-NP +, , O +a DT B-NP +U.K. NNP I-NP +advertising NN I-NP +concern NN I-NP +, , O +pending VBG B-PP +an DT B-NP +announcement NN I-NP +that IN B-SBAR +it PRP B-NP +is VBZ B-VP +buying VBG I-VP +the DT B-NP +remaining VBG I-NP +50 CD I-NP +% NN I-NP +of IN B-PP +France NNP B-NP +'s POS B-NP +Carat NNP I-NP +Holding NNP I-NP +for IN B-PP +2.02 CD B-NP +billion CD I-NP +French JJ I-NP +francs NNS I-NP +-LRB- ( O +$ $ B-NP +318.7 CD I-NP +million CD I-NP +-RRB- ) O +and CC O +expanding VBG B-VP +commercial NN B-NP +and CC I-NP +equity NN I-NP +ties NNS I-NP +with IN B-PP +advertising NN B-NP +group NN I-NP +Eurocom NNP I-NP +. . O + +Merchant NN B-NP +banker NN I-NP +Morgan NNP I-NP +Grenfell NNP I-NP +climbed VBD B-VP +14 CD B-NP +to TO B-PP +406 CD B-NP +on IN B-PP +renewed VBN B-NP +takeover NN I-NP +speculation NN I-NP +. . O + +S.G. NNP B-NP +Warburg NNP I-NP +, , O +also RB B-VP +mentioned VBN I-VP +in IN B-PP +the DT B-NP +rumor NN I-NP +mill NN I-NP +, , O +jumped VBD B-VP +14 CD B-NP +at IN B-PP +to TO B-PP +414 CD B-NP +. . O + +Jaguar NNP B-NP +advanced VBD B-VP +19 CD B-NP +to TO B-PP +673 CD B-NP +as IN B-SBAR +traders NNS B-NP +contemplated VBD B-VP +a DT B-NP +potential JJ I-NP +battle NN I-NP +between IN B-PP +General NNP B-NP +Motors NNPS I-NP +and CC O +Ford NNP B-NP +Motor NNP I-NP +for IN B-PP +control NN B-NP +of IN B-PP +the DT B-NP +U.K. NNP I-NP +luxury NN I-NP +auto NN I-NP +maker NN I-NP +. . O + +Tokyo NNP B-NP +'s POS B-NP +Nikkei NNP I-NP +index NN I-NP +of IN B-PP +225 CD B-NP +issues NNS I-NP +rose VBD B-VP +111.48 CD B-NP +points NNS I-NP +, , O +or CC O +0.32 CD B-NP +% NN I-NP +, , O +to TO B-PP +35107.56 CD B-NP +. . O + +The DT B-NP +index NN I-NP +gained VBD B-VP +527.39 CD B-NP +Tuesday NNP B-NP +. . O + +Volume NN B-NP +was VBD B-VP +estimated VBN I-VP +at IN B-PP +800 CD B-NP +million CD I-NP +shares NNS I-NP +, , O +compared VBN B-PP +with IN B-PP +678 CD B-NP +million CD I-NP +Tuesday NNP B-NP +. . O + +Declining VBG B-NP +issues NNS I-NP +outnumbered VBD B-VP +advancers NNS B-NP +505-455 JJ B-ADVP +, , O +with IN B-SBAR +172 CD B-NP +unchanged JJ B-ADJP +. . O + +The DT B-NP +Tokyo NNP I-NP +Stock NNP I-NP +Price NNP I-NP +Index NNP I-NP +of IN B-PP +all DT B-NP +issues NNS I-NP +listed VBN B-VP +in IN B-PP +the DT B-NP +first JJ I-NP +section NN I-NP +, , O +which WDT B-NP +gained VBD B-VP +41.76 CD B-NP +Tuesday NNP B-NP +, , O +was VBD B-VP +up IN B-ADVP +0.24 CD B-NP +points NNS I-NP +, , O +or CC O +0.01 CD B-NP +% NN I-NP +, , O +at IN B-PP +2642.88 CD B-NP +. . O + +In IN B-PP +early JJ B-NP +trading NN I-NP +in IN B-PP +Tokyo NNP B-NP +Thursday NNP B-NP +, , O +the DT B-NP +Nikkei NNP I-NP +index NN I-NP +rose VBD B-VP +135.09 CD B-NP +points NNS I-NP +to TO B-PP +35242.65 CD B-NP +. . O + +On IN B-PP +Wednesday NNP B-NP +, , O +shares NNS B-NP +were VBD B-VP +pushed VBN I-VP +up IN B-ADVP +by IN B-PP +index-related JJ B-NP +buying NN I-NP +on IN B-PP +the DT B-NP +part NN I-NP +of IN B-PP +investment NN B-NP +trusts NNS I-NP +as RB B-NP +well RB I-NP +as IN I-NP +small JJ B-NP +orders NNS I-NP +from IN B-PP +individuals NNS B-NP +and CC I-NP +corporations NNS I-NP +, , O +traders NNS B-NP +said VBD B-VP +. . O + +Institutions NNS B-NP +, , O +meanwhile RB B-ADVP +, , O +stepped VBD B-VP +back RB B-ADVP +to TO B-PP +the DT B-NP +sidelines NNS I-NP +as IN B-SBAR +the DT B-NP +direction NN I-NP +of IN B-PP +U.S. NNP B-NP +interest NN I-NP +rates NNS I-NP +remained VBD B-VP +unclear JJ B-ADJP +. . O + +The DT B-NP +uncertainty NN I-NP +was VBD B-VP +multiplied VBN I-VP +by IN B-PP +the DT B-NP +persistent JJ I-NP +strength NN I-NP +of IN B-PP +the DT B-NP +dollar NN I-NP +, , O +traders NNS B-NP +said VBD B-VP +, , O +and CC B-PP +by IN B-PP +the DT B-NP +U.S. NNP I-NP +trade NN I-NP +deficit NN I-NP +, , O +which WDT B-NP +widened VBD B-VP +by IN B-PP +31 CD B-NP +% NN I-NP +in IN B-PP +August NNP B-NP +from IN B-PP +the DT B-NP +previous JJ I-NP +month NN I-NP +. . O + +Traders NNS B-NP +and CC I-NP +analysts NNS I-NP +said VBD B-VP +they PRP B-NP +did VBD B-VP +n't RB I-VP +see VB I-VP +any DT B-NP +effect NN I-NP +on IN B-PP +Tokyo NNP B-NP +stocks NNS I-NP +from IN B-PP +the DT B-NP +California NNP I-NP +earthquake NN I-NP +. . O + +The DT B-NP +impact NN I-NP +on IN B-PP +Japanese JJ B-NP +insurers NNS I-NP +and CC I-NP +property NN I-NP +owners NNS I-NP +with IN B-PP +interests NNS B-NP +in IN B-PP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +area NN I-NP +is VBZ B-VP +still RB I-VP +being VBG I-VP +assessed VBN I-VP +, , O +they PRP B-NP +said VBD B-VP +. . O + +Buying VBG B-NP +was VBD B-VP +scattered VBN I-VP +across IN B-PP +a DT B-NP +wide JJ I-NP +range NN I-NP +of IN B-PP +issues NNS B-NP +, , O +making VBG B-VP +the DT B-NP +session NN I-NP +fairly RB B-ADJP +characterless JJ I-ADJP +, , O +traders NNS B-NP +said VBD B-VP +. . O + +With IN B-PP +uncertainty NN B-NP +still RB B-ADVP +hanging VBG B-VP +over IN B-PP +interest NN B-NP +rates NNS I-NP +and CC O +the DT B-NP +dollar NN I-NP +, , O +the DT B-NP +market NN I-NP +failed VBD B-VP +to TO I-VP +find VB I-VP +a DT B-NP +focus NN I-NP +that WDT B-NP +might MD B-VP +lead VB I-VP +to TO B-PP +further VB B-NP +investor NN I-NP +commitments NNS I-NP +, , O +they PRP B-NP +said VBD B-VP +. . O + +Some DT B-NP +traders NNS I-NP +said VBD B-VP +the DT B-NP +popularity NN I-NP +of IN B-PP +issues NNS B-NP +that WDT B-NP +gained VBD B-VP +yesterday NN B-NP +wo MD B-VP +n't RB I-VP +last JJ I-VP +long JJ B-ADVP +, , O +as IN B-SBAR +investors NNS B-NP +will MD B-VP +rotate VB I-VP +their PRP$ B-NP +buying NN I-NP +choices NNS I-NP +over IN B-PP +the DT B-NP +short JJ I-NP +term NN I-NP +. . O + +Interest NN B-NP +rate-sensitive JJ I-NP +shares NNS I-NP +such JJ B-PP +as IN I-PP +steel NN B-NP +, , I-NP +construction NN I-NP +and CC I-NP +electric JJ I-NP +utility NN I-NP +companies NNS I-NP +, , O +which WDT B-NP +rose VBD B-VP +early RB B-ADVP +in IN B-PP +the DT B-NP +week NN I-NP +, , O +saw VBD B-VP +their PRP$ B-NP +advance NN I-NP +weaken VB B-VP +yesterday NN B-NP +. . O + +Traders NNS B-NP +said VBD B-VP +these DT B-NP +issues NNS I-NP +need VBP B-VP +large-volume JJ B-NP +buying NN I-NP +to TO B-VP +push VB I-VP +up IN B-PRT +their PRP$ B-NP +prices NNS I-NP +, , O +so RB O +substantial JJ B-NP +gains NNS I-NP +are VBP B-VP +n't RB O +likely JJ B-ADJP +unless IN B-SBAR +institutional JJ B-NP +investors NNS I-NP +participate VBP B-VP +. . O + +An DT B-NP +outstanding JJ I-NP +issue NN I-NP +in IN B-PP +yesterday NN B-NP +'s POS B-NP +session NN I-NP +was VBD B-VP +Mitsubishi NNP B-NP +Rayon NNP I-NP +, , O +which WDT B-NP +surged VBD B-VP +95 CD B-NP +to TO B-PP +905 CD B-NP +yen NN I-NP +-LRB- ( O +$ $ B-NP +6.34 CD I-NP +-RRB- ) O +a DT B-NP +share NN I-NP +. . O + +Its PRP$ B-NP +popularity NN I-NP +was VBD B-VP +due JJ B-ADJP +to TO B-PP +speculation NN B-NP +about IN B-PP +the DT B-NP +strong JJ I-NP +earnings NNS I-NP +potential NN I-NP +of IN B-PP +a DT B-NP +new JJ I-NP +type NN I-NP +of IN B-PP +plastic NN B-NP +wrap NN I-NP +for IN B-PP +household NN B-NP +use NN I-NP +, , O +a DT B-NP +trader NN I-NP +at IN B-PP +County NNP B-NP +Natwest NNP I-NP +Securities NNP I-NP +Japan NNP I-NP +said VBD B-VP +. . O + +Some DT B-NP +laggard JJ I-NP +food NN I-NP +issues NNS I-NP +attracted VBD B-VP +bargain-hunters NNS B-NP +, , O +traders NNS B-NP +said VBD B-VP +. . O + +Kirin NNP B-NP +Brewery NNP I-NP +was VBD B-VP +up IN B-ADVP +100 CD B-NP +at IN B-PP +2,000 CD B-NP +, , O +and CC O +Ajinomoto NNP B-NP +gained VBD B-VP +70 CD B-NP +to TO B-PP +2,840 CD B-NP +. . O + +Pharmaceuticals NNP B-NP +were VBD B-VP +mostly RB B-ADJP +higher JJR I-ADJP +, , O +with IN B-PP +SS NNP B-NP +Pharmaceutical NNP I-NP +gaining VBG B-VP +140 CD B-NP +to TO B-PP +1,980 CD B-NP +. . O + +Shares NNS B-NP +closed VBD B-VP +lower JJR B-ADJP +in IN B-PP +other JJ B-NP +major JJ I-NP +Asian JJ I-NP +and CC I-NP +Pacific NNP I-NP +markets NNS I-NP +, , O +including VBG B-PP +Sydney NNP B-NP +, , O +Hong NNP B-NP +Kong NNP I-NP +, , O +Singapore NNP B-NP +, , O +Taipei NNP B-NP +, , O +Wellington NNP B-NP +, , O +Seoul NNP B-NP +and CC O +Manila NNP B-NP +. . O + +Most JJS B-NP +of IN B-PP +those DT B-NP +markets NNS I-NP +had VBD B-VP +rebounded VBN I-VP +the DT B-NP +day NN I-NP +before IN B-ADVP +from IN B-PP +Monday NNP B-NP +'s POS B-NP +slide NN I-NP +. . O + +But CC O +unlike IN B-PP +the DT B-NP +Tokyo NNP I-NP +exchange NN I-NP +, , O +they PRP B-NP +failed VBD B-VP +to TO I-VP +extend VB I-VP +the DT B-NP +rise NN I-NP +to TO B-PP +a DT B-NP +second JJ I-NP +session NN I-NP +. . O + +Elsewhere RB B-ADVP +, , O +prices NNS B-NP +surged VBD B-VP +for IN B-PP +a DT B-NP +second JJ I-NP +day NN I-NP +in IN B-PP +Frankfurt NNP B-NP +, , O +closed VBD B-VP +higher JJR B-ADJP +in IN B-PP +Zurich NNP B-NP +, , I-NP +Stockholm NNP I-NP +and CC I-NP +Amsterdam NNP I-NP +and CC O +were VBD B-VP +broadly RB B-ADJP +lower JJR I-ADJP +in IN B-PP +Milan NNP B-NP +, , I-NP +Paris NNP I-NP +and CC I-NP +Brussels NNP I-NP +. . O + +South JJ B-NP +African JJ I-NP +gold NN I-NP +stocks NNS I-NP +ended VBD B-VP +marginally RB B-ADJP +firmer JJR I-ADJP +. . O + +In IN B-PP +Brussels NNP B-NP +, , O +it PRP B-NP +was VBD B-VP +the DT B-NP +first JJ I-NP +trading NN I-NP +day NN I-NP +for IN B-PP +most RBS B-NP +major JJ I-NP +shares NNS I-NP +since IN B-SBAR +stocks NNS B-NP +tumbled VBD B-VP +on IN B-PP +Wall NNP B-NP +Street NNP I-NP +Friday NNP B-NP +. . O + +Trading NN B-NP +had VBD B-VP +been VBN I-VP +impeded VBN I-VP +by IN B-PP +a DT B-NP +major JJ I-NP +computer NN I-NP +failure NN I-NP +that WDT B-NP +took VBD B-VP +place NN B-NP +before IN B-PP +the DT B-NP +start NN I-NP +of IN B-PP +Monday NNP B-NP +'s POS B-NP +session NN I-NP +. . O + +Here RB B-ADVP +are VBP B-VP +price NN B-NP +trends NNS I-NP +on IN B-PP +the DT B-NP +world NN I-NP +'s POS B-NP +major JJ I-NP +stock NN I-NP +markets NNS I-NP +, , O +as IN B-SBAR +calculated VBN B-VP +by IN B-PP +Morgan NNP B-NP +Stanley NNP I-NP +Capital NNP I-NP +International NNP I-NP +Perspective NNP I-NP +, , O +Geneva NNP B-NP +. . O + +To TO B-VP +make VB I-VP +them PRP B-NP +directly RB B-ADJP +comparable JJ I-ADJP +, , O +each DT B-NP +index NN I-NP +is VBZ B-VP +based VBN I-VP +on IN B-PP +the DT B-NP +close NN I-NP +of IN B-PP +1969 CD B-NP +equaling VBG B-VP +100 CD B-NP +. . O + +The DT B-NP +percentage NN I-NP +change NN I-NP +is VBZ B-VP +since IN B-PP +year-end NN B-NP +. . O + +Housing NN B-NP +construction NN I-NP +sank VBD B-VP +in IN B-PP +September NNP B-NP +to TO B-PP +its PRP$ B-NP +lowest JJS I-NP +level NN I-NP +since IN B-PP +the DT B-NP +last JJ I-NP +recession NN I-NP +, , O +the DT B-NP +Commerce NNP I-NP +Department NNP I-NP +reported VBD B-VP +. . O + +Work NN B-NP +began VBD B-VP +on IN B-PP +homes NNS B-NP +and CC I-NP +apartments NNS I-NP +at IN B-PP +an DT B-NP +annual JJ I-NP +rate NN I-NP +of IN B-PP +1,263,000 CD B-NP +units NNS I-NP +last JJ B-NP +month NN I-NP +, , O +down RB B-ADVP +5.2 CD B-NP +% NN I-NP +from IN B-PP +August NNP B-NP +, , O +the DT B-NP +department NN I-NP +said VBD B-VP +. . O + +The DT B-NP +September NNP I-NP +decline NN I-NP +followed VBD B-VP +an DT B-NP +even RB I-NP +steeper JJR I-NP +drop NN I-NP +of IN B-PP +6.2 CD B-NP +% NN I-NP +in IN B-PP +August NNP B-NP +and CC O +left VBN B-VP +housing NN B-NP +starts VBZ I-NP +at IN B-PP +their PRP$ B-NP +weakest JJS I-NP +since IN B-PP +October NNP B-NP +1982 CD I-NP +, , O +when WRB B-ADVP +the DT B-NP +country NN I-NP +was VBD B-VP +nearing VBG I-VP +the DT B-NP +end NN I-NP +of IN B-PP +a DT B-NP +recession NN I-NP +. . O + +Originally RB B-ADVP +the DT B-NP +department NN I-NP +had VBD B-VP +reported VBN I-VP +the DT B-NP +August NNP I-NP +decline NN I-NP +as IN B-PP +5 NN B-NP +% NN I-NP +. . O + +The DT B-NP +numbers NNS I-NP +suggest VBP B-VP +that IN B-SBAR +the DT B-NP +housing NN I-NP +industry NN I-NP +is VBZ B-VP +still RB I-VP +suffering VBG I-VP +the DT B-NP +effects NNS I-NP +of IN B-PP +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +'s POS B-NP +battle NN I-NP +against IN B-PP +inflation NN B-NP +. . O + +The DT B-NP +industry NN I-NP +had VBD B-VP +shown VBN I-VP +signs NNS B-NP +of IN B-PP +recovery NN B-NP +this DT B-NP +summer NN I-NP +, , O +after IN B-SBAR +the DT B-NP +central JJ I-NP +bank NN I-NP +began VBD B-VP +to TO I-VP +relax VB I-VP +its PRP$ B-NP +clamp NN I-NP +on IN B-PP +credit NN B-NP +, , O +allowing VBG B-VP +interest NN B-NP +rates NNS I-NP +to TO B-VP +drop VB I-VP +a DT B-NP +bit NN I-NP +after IN B-PP +pushing VBG B-VP +them PRP B-NP +up IN B-PRT +for IN B-PP +a DT B-NP +year NN I-NP +. . O + +Sales NNS B-NP +of IN B-PP +new JJ B-NP +homes NNS I-NP +rose VBD B-VP +and CC O +inventories NNS B-NP +of IN B-PP +houses NNS B-NP +, , O +which WDT B-NP +had VBD B-VP +been VBN I-VP +climbing VBG I-VP +, , O +dropped VBD B-VP +. . O + +But CC O +last JJ B-NP +month NN I-NP +new JJ B-NP +construction NN I-NP +in IN B-PP +all DT B-NP +types NNS I-NP +of IN B-PP +homes NNS B-NP +waned VBD B-VP +, , O +from IN B-PP +single-family JJ B-NP +houses NNS I-NP +to TO B-PP +large JJ B-NP +apartment NN I-NP +complexes NNS I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +pretty RB B-ADJP +much JJ I-ADJP +weak JJ I-ADJP +across IN B-PP +the DT B-NP +board NN I-NP +, , O +'' '' O +said VBD B-VP +Martin NNP B-NP +Regalia NNP I-NP +, , O +chief JJ B-NP +economist NN I-NP +of IN B-PP +the DT B-NP +National NNP I-NP +Council NNP I-NP +of IN B-PP +Savings NNP B-NP +Institutions NNS I-NP +. . O + +Mr. NNP B-NP +Regalia NNP I-NP +said VBD B-VP +the DT B-NP +industry NN I-NP +may MD B-VP +be VB I-VP +reluctant JJ B-ADJP +to TO B-VP +step VB I-VP +up IN B-PRT +building NN B-NP +at IN B-PP +the DT B-NP +moment NN I-NP +for IN B-PP +fear NN B-NP +the DT B-NP +inventories NNS I-NP +of IN B-PP +unsold JJ B-NP +homes NNS I-NP +will MD B-VP +increase VB I-VP +again RB B-ADVP +. . O + +Another DT B-NP +reason NN I-NP +for IN B-PP +the DT B-NP +weakness NN I-NP +, , O +he PRP B-NP +said VBD B-VP +, , O +may MD B-VP +be VB I-VP +that IN B-SBAR +mortgage NN B-NP +rates NNS I-NP +have VBP B-VP +hit VBN I-VP +a DT B-NP +plateau NN I-NP +since IN B-SBAR +they PRP B-NP +began VBD B-VP +edging VBG I-VP +down RB B-ADVP +after IN B-PP +a DT B-NP +peak NN I-NP +in IN B-PP +March NNP B-NP +. . O + +In IN B-PP +August NNP B-NP +, , O +rates VBZ B-NP +on IN B-PP +30-year JJ B-NP +fixed-rate JJ I-NP +mortgages NNS I-NP +started VBD B-VP +creeping VBG I-VP +up IN B-ADVP +a DT B-NP +bit NN I-NP +, , O +but CC O +they PRP B-NP +inched VBD B-VP +down RB B-ADVP +again RB B-ADVP +through IN B-PP +September NNP B-NP +. . O + +`` `` O +Rates NNS B-NP +have VBP B-VP +n't RB I-VP +really RB I-VP +peeled VBN I-VP +off IN B-PRT +that DT B-NP +much NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Regalia NNP I-NP +said VBD B-VP +. . O + +`` `` O +We PRP B-NP +'ve VBP B-VP +kind NN I-VP +of IN I-VP +settled VBN I-VP +now RB B-ADVP +into IN B-PP +an DT B-NP +interest-rate NN I-NP +environment NN I-NP +that WDT B-NP +'s VBZ B-VP +fairly RB B-ADJP +high JJ I-ADJP +. . O +'' '' O + +Work NN B-NP +was VBD B-VP +begun VBN I-VP +on IN B-PP +single JJ B-NP +family NN I-NP +homes NNS I-NP +-- : O +the DT B-NP +core NN I-NP +of IN B-PP +the DT B-NP +housing NN I-NP +market NN I-NP +-- : O +at IN B-PP +an DT B-NP +annual JJ I-NP +rate NN I-NP +of IN B-PP +971,000 CD B-NP +in IN B-PP +September NNP B-NP +, , O +a DT B-NP +drop NN I-NP +of IN B-PP +2.1 CD B-NP +% NN I-NP +from IN B-PP +the DT B-NP +previous JJ I-NP +month NN I-NP +. . O + +That DT B-NP +followed VBD B-VP +a DT B-NP +3.3 CD I-NP +% NN I-NP +decline NN I-NP +in IN B-PP +August NNP B-NP +. . O + +Construction NN B-NP +of IN B-PP +apartments NNS B-NP +and CC O +other JJ B-NP +multi-family JJ I-NP +dwellings NNS I-NP +slipped VBD B-VP +2.2 CD B-NP +% NN I-NP +to TO B-PP +an DT B-NP +annual JJ I-NP +rate NN I-NP +of IN B-PP +1,022,000 CD B-NP +following VBG B-PP +a DT B-NP +3.5 CD I-NP +% NN I-NP +decline NN I-NP +in IN B-PP +August NNP B-NP +. . O + +The DT B-NP +number NN I-NP +of IN B-PP +building NN B-NP +permits VBZ I-NP +issued VBN B-VP +for IN B-PP +future NN B-NP +construction NN I-NP +dropped VBD B-VP +2.4 CD B-NP +% NN I-NP +to TO B-PP +a DT B-NP +1,296,000 CD I-NP +annual JJ I-NP +rate NN I-NP +after IN B-PP +rising VBG B-VP +3.7 CD B-NP +% NN I-NP +in IN B-PP +August NNP B-NP +. . O + +All DT B-NP +the DT I-NP +numbers NNS I-NP +were VBD B-VP +adjusted VBN I-VP +for IN B-PP +normal JJ B-NP +seasonal JJ I-NP +variations NNS I-NP +in IN B-PP +building NN B-NP +activity NN I-NP +. . O + +The DT B-NP +housing NN I-NP +starts VBZ I-NP +numbers NNS I-NP +, , O +however RB B-ADVP +, , O +are VBP B-VP +one CD B-NP +of IN B-PP +the DT B-NP +least JJS I-NP +precise JJ I-NP +of IN B-PP +the DT B-NP +government NN I-NP +'s POS B-NP +economic JJ I-NP +indicators NNS I-NP +and CC O +are VBP B-VP +often RB I-VP +revised VBN I-VP +significantly RB B-ADVP +as IN B-SBAR +more JJR B-NP +information NN I-NP +is VBZ B-VP +collected VBN I-VP +. . O + +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +Holdings NNP I-NP +Inc. NNP I-NP +posted VBD B-VP +a DT B-NP +sharp JJ I-NP +third-quarter JJ I-NP +turnaround NN I-NP +from IN B-PP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +, , O +but CC O +net JJ B-NP +income NN I-NP +would MD B-VP +have VB I-VP +dropped VBN I-VP +from IN B-PP +the DT B-NP +second JJ I-NP +quarter NN I-NP +without IN B-PP +a DT B-NP +$ $ I-NP +37 CD I-NP +million CD I-NP +after-tax JJ I-NP +gain NN I-NP +. . O + +The DT B-NP +securities NNS I-NP +firm NN I-NP +posted VBD B-VP +third-quarter JJ B-NP +net NN I-NP +of IN B-PP +$ $ B-NP +66 CD I-NP +million CD I-NP +, , O +or CC O +64 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +compared VBN B-PP +with IN B-PP +a DT B-NP +restated VBN I-NP +year-earlier JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +3 CD I-NP +million CD I-NP +, , O +or CC O +11 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +Revenue NN B-NP +climbed VBD B-VP +25 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +3.3 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +2.6 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +latest JJS I-NP +period NN I-NP +included VBD B-VP +the DT B-NP +gain NN I-NP +, , O +which WDT B-NP +was VBD B-VP +$ $ B-NP +77 CD I-NP +million CD I-NP +before IN B-PP +tax NN B-NP +, , O +from IN B-PP +the DT B-NP +previously RB I-NP +announced VBN I-NP +sale NN I-NP +of IN B-PP +the DT B-NP +institutional JJ I-NP +money NN I-NP +management NN I-NP +business NN I-NP +of IN B-PP +Lehman NNP B-NP +Management NNP I-NP +Co NNP I-NP +. . O + +The DT B-NP +1988 CD I-NP +period NN I-NP +was VBD B-VP +restated VBN I-VP +from IN B-PP +net JJ B-NP +income NN I-NP +of IN B-PP +$ $ B-NP +8 CD I-NP +million CD I-NP +to TO B-VP +correct VB I-VP +an DT B-NP +overstatement NN I-NP +in IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +Boston NNP I-NP +Co. NNP I-NP +subsidiary NN I-NP +. . O + +In IN B-PP +the DT B-NP +1989 CD I-NP +second JJ I-NP +quarter NN I-NP +, , O +Shearson NNP B-NP +had VBD B-VP +net JJ B-NP +income NN I-NP +of IN B-PP +$ $ B-NP +55 NN I-NP +million CD I-NP +, , O +or CC O +54 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +An DT B-NP +average JJ I-NP +102.5 CD I-NP +million CD I-NP +common JJ I-NP +shares NNS I-NP +were VBD B-VP +outstanding JJ B-ADJP +in IN B-PP +the DT B-NP +latest JJS I-NP +quarter NN I-NP +, , O +up IN B-ADVP +from IN B-PP +87.1 CD B-NP +million CD I-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +yesterday NN B-NP +, , O +Shearson NNP B-NP +shares NNS I-NP +lost VBD B-VP +37.5 CD B-NP +cents NNS I-NP +to TO B-PP +$ $ B-NP +18.125 CD I-NP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +the DT B-NP +improved VBN I-NP +performance NN I-NP +from IN B-PP +a DT B-NP +year NN I-NP +ago RB B-ADVP +reflects VBZ B-VP +higher JJR B-NP +commissions NNS I-NP +and CC I-NP +revenue NN I-NP +from IN B-PP +marketmaking NN B-NP +and CC I-NP +trading NN I-NP +for IN B-PP +its PRP$ B-NP +own JJ I-NP +account NN I-NP +. . O + +Commission NN B-NP +revenue NN I-NP +was VBD B-VP +$ $ B-NP +522 CD I-NP +million CD I-NP +, , O +up IN B-ADVP +49 CD B-NP +% NN I-NP +. . O + +But CC O +industrywide JJ B-NP +trading NN I-NP +activity NN I-NP +slowed VBD B-VP +in IN B-PP +September NNP B-NP +as IN B-SBAR +institutional JJ B-NP +investors NNS I-NP +turned VBD B-VP +cautious JJ B-ADJP +and CC O +individuals NNS B-NP +continued VBD B-VP +to TO I-VP +shy VB I-VP +away RB B-ADVP +from IN B-PP +the DT B-NP +market NN I-NP +. . O + +Investment NN B-NP +banking NN I-NP +revenue NN I-NP +fell VBD B-VP +32 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +205 CD I-NP +million CD I-NP +, , O +in IN B-PP +part NN B-NP +reflecting VBG B-VP +the DT B-NP +continued VBN I-NP +slowdown NN I-NP +of IN B-PP +the DT B-NP +underwriting NN I-NP +business NN I-NP +. . O + +In IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +net NN B-NP +fell VBD B-VP +3 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +106 CD I-NP +million CD I-NP +, , O +or CC O +98 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +110 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.05 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Revenue NN B-NP +advanced VBD B-VP +26 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +9.6 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +7.6 CD I-NP +billion CD I-NP +. . O + +Two CD B-NP +major JJ I-NP +drug NN I-NP +companies NNS I-NP +posted VBD B-VP +strong JJ B-NP +third-quarter JJ I-NP +earnings NNS I-NP +, , O +in IN B-PP +line NN B-NP +with IN B-PP +profits NNS B-NP +already RB B-VP +reported VBN I-VP +by IN B-PP +industry NN B-NP +leaders NNS I-NP +and CC O +analysts NNS B-NP +' POS B-NP +expectations NNS I-NP +. . O + +But CC O +Pfizer NNP B-NP +Inc. NNP I-NP +, , O +based VBN B-VP +in IN B-PP +New NNP B-NP +York NNP I-NP +, , O +reported VBD B-VP +flat JJ B-NP +earnings NNS I-NP +. . O + +Schering-Plough NNP B-NP +Corp. NNP I-NP +, , O +based VBN B-VP +in IN B-PP +Madison NNP B-NP +, , O +N.J. NNP B-NP +, , O +reported VBD B-VP +a DT B-NP +21 CD I-NP +% NN I-NP +rise NN I-NP +in IN B-PP +earnings NNS B-NP +as IN B-SBAR +American NNP B-NP +Home NNP I-NP +Products NNP I-NP +Corp. NNP I-NP +of IN B-PP +New NNP B-NP +York NNP I-NP +posted VBD B-VP +an DT B-NP +11 CD I-NP +% NN I-NP +increase NN I-NP +in IN B-PP +net NN B-NP +. . O + +American NNP B-NP +Home NNP I-NP +Products NNPS I-NP + +American NNP B-NP +Home NNP I-NP +Products NNPS I-NP +said VBD B-VP +sales NNS B-NP +and CC I-NP +earnings NNS I-NP +for IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +and CC O +nine CD B-NP +months NNS I-NP +were VBD B-VP +at IN B-PP +record NN B-NP +levels NNS I-NP +. . O + +Sales NNS B-NP +for IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +increased VBN B-VP +6.5 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +1.51 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +1.42 CD I-NP +billion CD I-NP +. . O + +Sales NNS B-NP +of IN B-PP +health-care NN B-NP +products NNS I-NP +increased VBN B-VP +6 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +, , O +based VBN B-PP +in IN B-PP +part NN B-NP +on IN B-PP +strong JJ B-NP +sales NNS I-NP +of IN B-PP +prescription NN B-NP +drugs NNS I-NP +such JJ B-PP +as IN I-PP +Premarin NNP B-NP +, , O +an DT B-NP +estrogen-replacement NN I-NP +drug NN I-NP +, , O +and CC O +sales NNS B-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +infant NN I-NP +formula NN I-NP +. . O + +American NNP B-NP +Home NNP I-NP +Products NNPS I-NP +said VBD B-VP +net JJ B-NP +income NN I-NP +benefited VBD B-VP +from IN B-PP +a DT B-NP +`` `` I-NP +lower JJR I-NP +effective JJ I-NP +tax NN I-NP +rate NN I-NP +, , O +'' '' O +reflecting VBG B-VP +a DT B-NP +reduction NN I-NP +of IN B-PP +foreign JJ B-NP +tax NN I-NP +rates NNS I-NP +, , O +and CC O +additional JJ B-NP +operations NNS I-NP +in IN B-PP +Puerto NNP B-NP +Rico NNP I-NP +. . O + +Net JJ B-NP +also RB B-ADVP +was VBD B-VP +aided VBN I-VP +by IN B-PP +a DT B-NP +gain NN I-NP +on IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +equity NN I-NP +interests NNS I-NP +in IN B-PP +South NNP B-NP +Africa NNP I-NP +effective JJ B-ADJP +Sept. NNP B-NP +1 CD I-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +yesterday NN B-NP +, , O +American NNP B-NP +Home NNP I-NP +Products NNPS I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +102.25 CD I-NP +a DT B-NP +share NN I-NP +, , O +down RB B-ADVP +75 CD B-NP +cents NNS I-NP +. . O + +Pfizer NNP B-NP + +Pfizer NNP B-NP +said VBD B-VP +third-quarter JJ B-NP +sales NNS I-NP +increased VBN B-VP +4 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +1.44 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +1.38 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +net JJ B-NP +income NN I-NP +was VBD B-VP +flat JJ B-ADJP +because IN B-PP +of IN I-PP +investment NN B-NP +in IN B-PP +research NN B-NP +and CC I-NP +development NN I-NP +and CC O +costs NNS B-NP +related VBN B-ADJP +to TO B-PP +launches NNS B-NP +of IN B-PP +several JJ B-NP +products NNS I-NP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +the DT B-NP +dollar NN I-NP +'s POS B-NP +continued VBD I-NP +strengthening VBG I-NP +reduced VBN B-VP +world-wide JJ B-NP +sales NNS I-NP +growth NN I-NP +by IN B-PP +three CD B-NP +percentage NN I-NP +points NNS I-NP +. . O + +Pfizer NNP B-NP +posted VBD B-VP +its PRP$ B-NP +largest JJS I-NP +gains NNS I-NP +in IN B-PP +healthcare NN B-NP +sales NNS I-NP +, , O +up IN B-ADVP +3 CD B-NP +% NN I-NP +, , O +and CC O +consumer NN B-NP +products NNS I-NP +, , O +up IN B-ADVP +23 CD B-NP +% NN I-NP +. . O + +Sales NNS B-NP +by IN B-PP +the DT B-NP +specialty NN I-NP +chemicals NNS I-NP +and CC I-NP +materials NNS I-NP +science NN I-NP +segments NNS I-NP +were VBD B-VP +flat JJ B-ADJP +, , O +and CC O +sales NNS B-NP +by IN B-PP +the DT B-NP +agriculture NN I-NP +segment NN I-NP +declined VBD B-VP +5 NN B-NP +% NN I-NP +. . O + +In IN B-PP +the DT B-NP +health-care NN I-NP +segment NN I-NP +, , O +pharmaceutical JJ B-NP +sales NNS I-NP +increased VBN B-VP +4 CD B-NP +% NN I-NP +and CC O +sales NNS B-NP +of IN B-PP +hospital NN B-NP +products NNS I-NP +increased VBN B-VP +1 CD B-NP +% NN I-NP +. . O + +During IN B-PP +the DT B-NP +quarter NN I-NP +, , O +Pfizer NNP B-NP +received VBD B-VP +federal JJ B-NP +approval NN I-NP +of IN B-PP +Procardia NNP B-NP +XL NNP I-NP +, , O +a DT B-NP +calcium NN I-NP +channel NN I-NP +blocker NN I-NP +approved VBD B-VP +for IN B-PP +both DT B-NP +angina NN I-NP +and CC I-NP +hypertension NN I-NP +, , O +and CC O +Monorail NNP B-NP +Piccolino NNP I-NP +, , O +used VBN B-VP +to TO B-VP +open VB I-VP +obstructed VBN B-NP +coronary JJ I-NP +arteries NNS I-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +yesterday NN B-NP +, , O +Pfizer NNP B-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +67.75 CD I-NP +a DT B-NP +share NN I-NP +, , O +up IN B-ADVP +75 CD B-NP +cents NNS I-NP +. . O + +Schering-Plough NNP B-NP + +Schering-Plough NNP B-NP +said VBD B-VP +sales NNS B-NP +gained VBD B-VP +2.7 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +743.7 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +724.4 CD I-NP +million CD I-NP +. . O + +In IN B-PP +the DT B-NP +period NN I-NP +, , O +the DT B-NP +company NN I-NP +completed VBD B-VP +the DT B-NP +sale NN I-NP +of IN B-PP +its PRP$ B-NP +European JJ I-NP +cosmetics NNS I-NP +businesses NNS I-NP +, , O +sold VBD B-VP +a DT B-NP +majority NN I-NP +interest NN I-NP +in IN B-PP +its PRP$ B-NP +Brazilian JJ I-NP +affiliate NN I-NP +, , O +and CC O +announced VBD B-VP +the DT B-NP +reorganization NN I-NP +of IN B-PP +its PRP$ B-NP +over-the-counter JJ I-NP +drug NN I-NP +businesses NNS I-NP +into IN B-PP +a DT B-NP +new JJ I-NP +unit NN I-NP +, , O +Schering-Plough NNP B-NP +Health NNP I-NP +Care NNP I-NP +Products NNPS I-NP +. . O + +These DT B-NP +actions NNS I-NP +did VBD B-VP +n't RB I-VP +affect VB I-VP +results NNS B-NP +because IN B-SBAR +the DT B-NP +gain NN I-NP +on IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +the DT B-NP +European JJ I-NP +cosmetics NNS I-NP +businesses NNS I-NP +was VBD B-VP +offset VBN I-VP +by IN B-PP +provisions NNS B-NP +relating VBG B-VP +to TO B-PP +the DT B-NP +Brazil NNP I-NP +divestiture NN I-NP +and CC I-NP +drug NN I-NP +restructuring NN I-NP +. . O + +U.S. NNP B-NP +pharmaceutical JJ I-NP +sales NNS I-NP +rose VBD B-VP +15 CD B-NP +% NN I-NP +, , O +led VBN B-VP +by IN B-PP +allergy NN B-NP +, , I-NP +asthma NN I-NP +and CC I-NP +cold JJ I-NP +products NNS I-NP +; : O +dermatological JJ B-NP +products NNS I-NP +; : O +anti-infectives NNS B-NP +and CC O +anti-cancer JJ B-NP +products NNS I-NP +; : O +and CC O +cardiovascular JJ B-NP +products NNS I-NP +. . O + +World-wide JJ B-NP +consumer NN I-NP +product NN I-NP +sales NNS I-NP +declined VBD B-VP +12 CD B-NP +% NN I-NP +, , O +primarily RB B-ADVP +because IN B-PP +of IN I-PP +the DT B-NP +European JJ I-NP +cosmetics NNS I-NP +sale NN I-NP +. . O + +Significantly RB B-NP +lower JJR I-NP +sales NNS I-NP +of IN B-PP +` `` B-NP +Stay VB I-NP +Trim NN I-NP +' '' I-NP +diet NN I-NP +aids NNS I-NP +also RB B-ADVP +were VBD B-VP +a DT B-NP +factor NN I-NP +in IN B-PP +the DT B-NP +drop NN I-NP +. . O + +The DT B-NP +Maybelline NNP I-NP +beauty NN I-NP +product NN I-NP +line NN I-NP +had VBD B-VP +higher JJR B-NP +sales NNS I-NP +following VBG B-PP +a DT B-NP +sluggish JJ I-NP +first JJ I-NP +half NN I-NP +. . O + +In IN B-PP +Big NNP B-NP +Board NNP I-NP +composite JJ I-NP +trading NN I-NP +, , O +Schering-Plough NNP B-NP +shares NNS I-NP +fell VBD B-VP +75 CD B-NP +cents NNS I-NP +to TO B-VP +close VB I-VP +at IN B-PP +$ $ B-NP +74.125 CD I-NP +. . O + +Swedish JJ B-NP +auto NN I-NP +and CC I-NP +aerospace NN I-NP +concern NN I-NP +Saab-Scania NNP I-NP +AB NNP I-NP +said VBD B-VP +it PRP B-NP +received VBD B-VP +a DT O +250 CD O +million CD O +krona NN O +-LRB- ( O +$ $ B-ADJP +39 CD O +million CD O +-RRB- ) O +order NN B-NP +from IN B-PP +Swiss NNP B-NP +Crossair NNP I-NP +, , O +one CD B-NP +of IN B-PP +Europe NNP B-NP +'s POS B-NP +leading VBG I-NP +regional JJ I-NP +air NN I-NP +companies NNS I-NP +, , O +for IN B-PP +five CD B-NP +Saab NNP I-NP +340B CD I-NP +turboprop NN I-NP +commuter NN I-NP +aircraft NN I-NP +. . O + +It PRP B-NP +is VBZ B-VP +quite RB B-ADJP +unfortunate JJ I-ADJP +that IN B-SBAR +you PRP B-NP +failed VBD B-VP +so RB B-ADVP +miserably RB I-ADVP +in IN B-PP +reporting VBG B-VP +the DT B-NP +Hurricane NNP I-NP +Hugo NNP I-NP +disaster NN I-NP +. . O + +Your PRP$ B-NP +Sept. NNP I-NP +27 CD I-NP +page-one JJ I-NP +article NN I-NP +`` `` O +Charleston NNP B-NP +Lost JJ B-VP +Quite RB B-NP +a DT I-NP +Lot NN I-NP +to TO B-PP +Hugo NNP B-NP +, , O +Especially RB B-NP +Gentility NN I-NP +'' '' O +leaves VBZ B-VP +the DT B-NP +impression NN I-NP +that IN B-SBAR +the DT B-NP +storm NN I-NP +was VBD B-VP +little RB B-ADJP +more JJR I-ADJP +than IN B-PP +an DT B-NP +inconvenience NN I-NP +. . O + +The DT B-NP +damage NN I-NP +reported VBD B-VP +focused VBN B-VP +on IN B-PP +a DT B-NP +select JJ I-NP +few JJ I-NP +who WP B-NP +owned VBD B-VP +irreplaceable JJ B-NP +historic JJ I-NP +homes NNS I-NP +on IN B-PP +the DT B-NP +Battery NNP I-NP +. . O + +Not RB B-VP +mentioned VBN I-VP +were VBD B-VP +the DT B-NP +50,000 CD I-NP +people NNS I-NP +rendered VBD B-VP +homeless JJ B-ADJP +, , O +and CC O +the DT B-NP +more JJR I-NP +than IN I-NP +200,000 CD I-NP +out IN B-ADJP +of IN B-PP +work NN B-NP +for IN B-PP +an DT B-NP +indeterminable JJ I-NP +period NN I-NP +; : O +the DT B-NP +$ $ I-NP +1 CD I-NP +billion-plus JJ I-NP +in IN B-PP +losses NNS B-NP +to TO B-PP +homes NNS B-NP +and CC O +personal JJ B-NP +property NN I-NP +on IN B-PP +the DT B-NP +barrier NN I-NP +islands NNS I-NP +; : O +the DT B-NP +near IN I-NP +- : I-NP +and CC I-NP +long-term JJ I-NP +impact NN I-NP +on IN B-PP +the DT B-NP +state NN I-NP +'s POS B-NP +largest JJS I-NP +industry NN I-NP +, , O +tourism NN B-NP +, , O +not RB B-CONJP +to TO O +mention VB O +the DT B-NP +human JJ I-NP +suffering NN I-NP +. . O + +In IN B-PP +centering VBG B-VP +on IN B-PP +the DT B-NP +disruption NN I-NP +of IN B-PP +a DT B-NP +few JJ I-NP +proud JJ I-NP +local JJ I-NP +customs NNS I-NP +such JJ B-PP +as IN I-PP +the DT B-NP +historic JJ I-NP +homes NNS I-NP +tour NN I-NP +and CC O +the DT B-NP +damage NN I-NP +to TO B-PP +the DT B-NP +antiquities NNS I-NP +, , O +your PRP$ B-NP +reporter NN I-NP +served VBN B-VP +to TO I-VP +only RB I-VP +perpetuate VB I-VP +an DT B-NP +outdated JJ I-NP +and CC I-NP +stereotypically RB I-NP +provincial JJ I-NP +view NN I-NP +of IN B-PP +this DT B-NP +otherwise RB I-NP +thriving VBG I-NP +port NN I-NP +city NN I-NP +. . O + +The DT B-NP +damage NN I-NP +will MD B-VP +undoubtedly RB I-VP +prove VB I-VP +to TO I-VP +be VB I-VP +one CD B-NP +of IN B-PP +the DT B-NP +epic NN I-NP +human JJ I-NP +and CC I-NP +economic JJ I-NP +disasters NNS I-NP +of IN B-PP +the DT B-NP +decade NN I-NP +in IN B-PP +this DT B-NP +country NN I-NP +. . O + +David NNP B-NP +M. NNP I-NP +Carroll NNP I-NP + +Columbia NNP B-NP +, , O +S.C NNP B-NP +. . O + +Your PRP$ B-NP +story NN I-NP +was VBD B-VP +tasteless JJ B-ADJP +and CC I-ADJP +insensitive JJ I-ADJP +. . O + +Depicting VBG B-VP +the DT B-NP +people NNS I-NP +of IN B-PP +a DT B-NP +traumatized VBN I-NP +city NN I-NP +reeling VBG B-VP +from IN B-PP +a DT B-NP +disaster NN I-NP +of IN B-PP +unprecedented JJ B-NP +proportions NNS I-NP +was VBD B-VP +at IN B-PP +the DT B-NP +very RB I-NP +best JJS I-NP +ludicrous JJ B-ADJP +under IN B-PP +the DT B-NP +circumstances NNS I-NP +. . O + +Your PRP$ B-NP +narrow JJ I-NP +focus NN I-NP +appears VBZ B-VP +to TO I-VP +be VB I-VP +a DT B-NP +contrived VBN I-NP +attempt NN I-NP +to TO B-VP +show VB I-VP +the DT B-NP +people NNS I-NP +of IN B-PP +that DT B-NP +historic JJ I-NP +city NN I-NP +to TO B-VP +be VB I-VP +doddering JJ B-NP +fools NNS I-NP +. . O + +You PRP B-NP +had VBD B-VP +to TO I-VP +have VB I-VP +been VBN I-VP +blind JJ B-ADJP +not RB O +to TO B-VP +see VB I-VP +the DT B-NP +scenario NN I-NP +there RB B-ADVP +for IN B-PP +what WP B-NP +it PRP B-NP +was VBD B-VP +and CC O +is VBZ B-VP +and CC O +will MD B-VP +continue VB I-VP +to TO I-VP +be VB I-VP +for IN B-PP +months NNS B-NP +and CC B-NP +even JJ I-NP +years NNS B-NP +-- : O +a DT B-NP +part NN I-NP +of IN B-PP +South NNP B-NP +Carolina NNP I-NP +that WDT B-NP +has VBZ B-VP +sustained VBN I-VP +a DT B-NP +blow NN I-NP +that IN B-NP +the DT B-NP +Red NNP I-NP +Cross NNP I-NP +expects VBZ B-VP +will MD B-VP +cost VB I-VP +that DT B-NP +organization NN I-NP +alone RB B-ADVP +some DT B-NP +$ $ I-NP +38 CD I-NP +million CD I-NP +. . O + +William NNP B-NP +C. NNP I-NP +Barksdale NNP I-NP +Jr NNP I-NP +. . O + +Columbia NNP B-NP +, , O +S.C NNP B-NP +. . O + +Charleston NNP B-NP +is VBZ B-VP +historic JJ B-ADJP +and CC I-ADJP +aristocratic JJ I-ADJP +, , O +as IN O +your PRP$ B-NP +reporter NN I-NP +said VBD B-VP +, , O +but CC O +not RB O +haughty JJ B-ADJP +, , O +as IN B-SBAR +he PRP B-NP +suggested VBD B-VP +. . O + +Charlestonians NNS B-NP +are VBP B-VP +instead RB B-ADVP +indomitable JJ B-ADJP +and CC O +have VBP B-VP +contributed VBN I-VP +mightily RB B-ADVP +to TO B-PP +the DT B-NP +culture NN I-NP +and CC I-NP +history NN I-NP +of IN B-PP +our PRP$ B-NP +country NN I-NP +for IN B-PP +more JJR B-NP +than IN I-NP +300 CD I-NP +years NNS I-NP +. . O + +I PRP B-NP +suggest VBP B-VP +your PRP$ B-NP +reporter NN I-NP +see VB B-VP +Charleston NNP B-NP +next JJ B-NP +spring NN I-NP +in IN B-PP +its PRP$ B-NP +full JJ I-NP +glory NN I-NP +. . O + +William NNP B-NP +C. NNP I-NP +Stuart NNP I-NP +III NNP I-NP + +Silver NNP B-NP +Spring NNP I-NP +, , O +Md NNP B-NP +. . O + +Affiliated NNP B-NP +Bankshares NNPS I-NP +of IN B-PP +Colorado NNP B-NP +Inc. NNP I-NP +said VBD B-VP +it PRP B-NP +agreed VBD B-VP +to TO I-VP +sell VB I-VP +its PRP$ B-NP +10 CD I-NP +% NN I-NP +interest NN I-NP +in IN B-PP +Rocky NNP B-NP +Mountain NNP I-NP +Bankcard NNP I-NP +Systems NNPS I-NP +for IN B-PP +$ $ B-NP +18.5 CD I-NP +million CD I-NP +to TO B-PP +Colorado NNP B-NP +National NNP I-NP +Bank NNP I-NP +of IN B-PP +Denver NNP B-NP +and CC O +Central NNP B-NP +Bank NNP I-NP +of IN B-PP +Denver NNP B-NP +. . O + +Colorado NNP B-NP +National NNP I-NP +is VBZ B-VP +a DT B-NP +unit NN I-NP +of IN B-PP +Colorado NNP B-NP +National NNP I-NP +Bankshares NNPS I-NP +Inc. NNP I-NP +and CC O +Central NNP B-NP +is VBZ B-VP +a DT B-NP +unit NN I-NP +of IN B-PP +First NNP B-NP +Bank NNP I-NP +System NNP I-NP +of IN B-PP +Minneapolis NNP B-NP +. . O + +Affiliated NNP B-NP +said VBD B-VP +it PRP B-NP +expects VBZ B-VP +to TO I-VP +record VB I-VP +a DT B-NP +pretax JJ I-NP +gain NN I-NP +of IN B-PP +about RB B-NP +$ $ I-NP +18.5 CD I-NP +million CD I-NP +from IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +the DT B-NP +credit-card NN I-NP +business NN I-NP +, , O +which WDT B-NP +should MD B-VP +more JJR I-VP +than IN I-VP +offset VB I-VP +any DT B-NP +reduction NN I-NP +in IN B-PP +the DT B-NP +carrying VBG I-NP +value NN I-NP +of IN B-PP +real JJ B-NP +estate NN I-NP +and CC O +real-estate NN B-NP +loans NNS I-NP +on IN B-PP +its PRP$ B-NP +books NNS I-NP +. . O + +The DT B-NP +U.S. NNP I-NP +Export-Import NNP I-NP +Bank NNP I-NP +tentatively RB B-VP +decided VBD I-VP +to TO I-VP +guarantee VB I-VP +commercial JJ B-NP +bank NN I-NP +financing NN I-NP +for IN B-PP +the DT B-NP +purchase NN I-NP +of IN B-PP +two CD B-NP +Boeing NNP I-NP +Co. NNP I-NP +767 CD I-NP +airliners NNS I-NP +by IN B-PP +Avianca NNP B-NP +, , O +Colombia NNP B-NP +'s POS B-NP +international JJ I-NP +airline NN I-NP +, , O +at IN B-PP +a DT B-NP +cost NN I-NP +of IN B-PP +about RB B-NP +$ $ I-NP +150 CD I-NP +million CD I-NP +. . O + +The DT B-NP +loan NN I-NP +guarantee NN I-NP +would MD B-VP +amount VB I-VP +to TO B-PP +about RB B-NP +$ $ I-NP +127.5 CD I-NP +million CD I-NP +, , O +or CC O +85 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +cost NN I-NP +of IN B-PP +the DT B-NP +aircraft NN I-NP +. . O + +Because IN B-PP +of IN I-PP +the DT B-NP +size NN I-NP +of IN B-PP +the DT B-NP +proposed VBN I-NP +loan NN I-NP +guarantee NN I-NP +, , O +the DT B-NP +Ex-Im NNP I-NP +Bank NNP I-NP +'s POS B-NP +preliminary JJ I-NP +commitment NN I-NP +is VBZ B-VP +subject NN B-ADJP +to TO B-PP +review VB B-NP +by IN B-PP +the DT B-NP +House NNP I-NP +and CC I-NP +Senate NNP I-NP +Banking NNP I-NP +committees NNS I-NP +. . O + +Ex-Im NNP B-NP +Bank NNP I-NP +officials NNS I-NP +said VBD B-VP +this DT B-NP +review NN I-NP +process NN I-NP +currently RB B-ADVP +is VBZ B-VP +under IN B-PP +way NN B-NP +. . O + +Sebastian NNP B-NP +Guzman NNP I-NP +Cabrera NNP I-NP +took VBD B-VP +over IN B-PRT +the DT B-NP +oil NN I-NP +workers NNS I-NP +union NN I-NP +, , O +Mexico NNP B-NP +'s POS B-NP +most RBS B-ADJP +powerful JJ I-ADJP +labor NN B-NP +organization NN I-NP +, , O +only RB B-NP +last JJ I-NP +January NNP I-NP +. . O + +But CC O +even RB B-PP +in IN I-PP +that DT B-NP +short JJ I-NP +time NN I-NP +Mr. NNP B-NP +Guzman NNP I-NP +Cabrera NNP I-NP +has VBZ B-VP +become VBN I-VP +as IN B-ADJP +controversial JJ I-ADJP +in IN B-PP +his PRP$ B-NP +own JJ I-NP +way NN I-NP +as IN B-PP +his PRP$ B-NP +deposed VBN I-NP +predecessor NN I-NP +, , O +Joaquin NNP B-NP +Hernandez NNP I-NP +Galicia NNP I-NP +, , O +known VBN B-VP +as IN B-PP +La NNP B-NP +Quina NNP I-NP +. . O + +President NNP B-NP +Carlos NNP I-NP +Salinas NNP I-NP +de FW I-NP +Gortari NNP I-NP +used VBD B-VP +the DT B-NP +army NN I-NP +to TO B-VP +oust VB I-VP +La NNP B-NP +Quina NNP I-NP +, , O +who WP B-NP +reigned VBD B-VP +for IN B-PP +28 CD B-NP +years NNS I-NP +over IN B-PP +a DT B-NP +graft-riddled JJ I-NP +empire NN I-NP +that WDT B-NP +made VBD B-VP +state-run JJ B-NP +Petroleos NNP I-NP +Mexicanos NNP I-NP +, , I-NP +or CC I-NP +Pemex NNP I-NP +, , O +one CD B-NP +of IN B-PP +the DT B-NP +world NN I-NP +'s POS B-NP +most RBS B-ADJP +inefficient JJ I-ADJP +oil NN B-NP +companies NNS I-NP +. . O + +Now RB B-ADVP +, , O +Mr. NNP B-NP +Guzman NNP I-NP +Cabrera NNP I-NP +is VBZ B-VP +facing VBG I-VP +accusations NNS B-NP +that IN B-SBAR +he PRP B-NP +'s VBZ B-VP +as IN B-NP +much JJ I-NP +a DT I-NP +company NN I-NP +man NN I-NP +as IN B-SBAR +La NNP B-NP +Quina NNP I-NP +was VBD B-VP +a DT B-NP +crook NN I-NP +. . O + +In IN B-PP +recent JJ B-NP +contract NN I-NP +negotiations NNS I-NP +with IN B-PP +Pemex NNP B-NP +management NN I-NP +, , O +Mr. NNP B-NP +Guzman NNP I-NP +Cabrera NNP I-NP +accepted VBD B-VP +major JJ B-NP +concessions NNS I-NP +that WDT B-NP +greatly RB B-VP +curtail VB I-VP +the DT B-NP +union NN I-NP +'s POS B-NP +role NN I-NP +in IN B-PP +subcontracting NN B-NP +, , O +long JJ B-ADVP +a DT B-NP +source NN I-NP +of IN B-PP +millions NNS B-NP +of IN B-PP +dollars NNS B-NP +in IN B-PP +illicit JJ B-NP +earnings NNS I-NP +. . O + +And CC O +with IN B-PP +the DT B-NP +quiet JJ I-NP +pragmatism NN I-NP +of IN B-PP +Mr. NNP B-NP +Guzman NNP I-NP +Cabrera NNP I-NP +replacing VBG B-VP +the DT B-NP +prickly JJ I-NP +populism NN I-NP +of IN B-PP +La NNP B-NP +Quina NNP I-NP +, , O +government NN B-NP +technocrats NNS I-NP +have VBP B-VP +been VBN I-VP +given VBN I-VP +a DT B-NP +free JJ I-NP +hand NN I-NP +to TO B-VP +open VB I-VP +the DT B-NP +petrochemical NN I-NP +sector NN I-NP +to TO B-PP +wider RBR B-NP +private JJ I-NP +and CC I-NP +foreign JJ I-NP +investment NN I-NP +. . O + +Mr. NNP B-NP +Guzman NNP I-NP +Cabrera NNP I-NP +'s POS B-NP +new JJ I-NP +order NN I-NP +has VBZ B-VP +n't RB I-VP +arrived VBN I-VP +without IN B-PP +resistance NN B-NP +. . O + +Brawls NNS B-NP +between IN B-PP +union NN B-NP +factions NNS I-NP +still RB B-ADVP +erupt VBP B-VP +at IN B-PP +Pemex NNP B-NP +installations NNS I-NP +. . O + +Leftist JJ B-NP +leader NN I-NP +Cuauhtemoc NNP I-NP +Cardenas NNP I-NP +publicly RB B-VP +questioned VBD I-VP +Mr. NNP B-NP +Guzman NNP I-NP +Cabrera NNP I-NP +'s POS B-NP +`` `` I-NP +moral JJ I-NP +quality NN I-NP +, , O +'' '' O +suggesting VBG B-VP +he PRP B-NP +is VBZ B-VP +part NN B-NP +of IN B-PP +a DT B-NP +conspiracy NN I-NP +to TO B-VP +turn VB I-VP +over IN B-PRT +the DT B-NP +country NN I-NP +'s POS B-NP +oil NN I-NP +, , O +a DT B-NP +symbol NN I-NP +of IN B-PP +Mexican JJ B-NP +nationalism NN I-NP +, , O +to TO B-PP +foreigners NNS B-NP +. . O + +The DT B-NP +61-year-old NNP I-NP +Mr. NNP I-NP +Guzman NNP I-NP +Cabrera NNP I-NP +takes VBZ B-VP +such JJ B-NP +criticisms NNS I-NP +in IN B-PP +stride NN B-NP +. . O + +`` `` O +This DT B-NP +is VBZ B-VP +n't RB O +a DT B-NP +new JJ I-NP +kind NN I-NP +of IN B-PP +union NN B-NP +leadership NN I-NP +, , O +it PRP B-NP +'s VBZ B-VP +a DT B-NP +new JJ I-NP +Mexico NNP I-NP +. . O + +We PRP B-NP +'re VBP B-VP +no RB B-ADVP +longer RB I-ADVP +afraid JJ B-ADJP +of IN B-PP +associating VBG B-VP +with IN B-PP +private JJ B-NP +or CC I-NP +foreign JJ I-NP +capital NN I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +Pemex NNP B-NP +, , O +which WDT B-NP +produces VBZ B-VP +40 CD B-NP +% NN I-NP +of IN B-PP +government NN B-NP +revenue NN I-NP +, , O +desperately RB B-VP +needs VBZ I-VP +new JJ B-NP +investment NN I-NP +. . O + +Since IN B-SBAR +world NN B-NP +oil NN I-NP +prices NNS I-NP +collapsed VBD B-VP +in IN B-PP +1982 CD B-NP +, , O +the DT B-NP +government NN I-NP +has VBZ B-VP +siphoned VBN I-VP +Pemex NNP B-NP +'s POS B-NP +coffers NNS I-NP +to TO B-VP +make VB I-VP +payments NNS B-NP +on IN B-PP +Mexico NNP B-NP +'s POS B-NP +$ $ B-ADJP +97 CD O +billion CD O +foreign JJ B-NP +debt NN I-NP +. . O + +Little JJ B-NP +money NN I-NP +has VBZ B-VP +been VBN I-VP +returned VBN I-VP +to TO B-VP +upgrade VB I-VP +Pemex NNP B-NP +'s POS B-NP +aging VBG I-NP +facilities NNS I-NP +. . O + +While IN B-SBAR +the DT B-NP +government NN I-NP +drains NNS B-VP +Pemex NNP B-NP +from IN B-PP +above IN B-NP +, , O +the DT B-NP +union NN I-NP +has VBZ B-VP +drained VBN I-VP +it PRP B-NP +from IN B-PP +below RB B-NP +. . O + +A DT B-NP +bloated JJ I-NP +payroll NN I-NP +and CC O +pervasive JJ B-NP +graft NN I-NP +caused VBN B-VP +Pemex NNP B-NP +'s POS B-NP +operating VBG I-NP +costs NNS I-NP +to TO B-VP +balloon VB I-VP +to TO B-PP +95 CD B-NP +cents NNS I-NP +of IN B-PP +each DT B-NP +$ $ I-NP +1 CD I-NP +in IN B-PP +sales NNS B-NP +, , O +far RB B-ADVP +above IN B-PP +the DT B-NP +industry NN I-NP +norm NN I-NP +. . O + +The DT B-NP +declines NNS I-NP +in IN B-PP +investment NN B-NP +and CC I-NP +efficiency NN I-NP +explain VB B-VP +in IN B-PP +part NN B-NP +why WRB B-ADVP +Mexico NNP B-NP +has VBZ B-VP +been VBN I-VP +importing VBG I-VP +gasoline NN B-NP +this DT B-NP +year NN I-NP +. . O + +Some DT B-NP +projections NNS I-NP +show VBP B-VP +Mexico NNP B-NP +importing VBG B-VP +crude NN B-NP +by IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +century NN I-NP +, , O +barring VBG B-PP +an DT B-NP +overhaul NN I-NP +of IN B-PP +operations NNS B-NP +. . O + +`` `` O +Whatever WDT B-NP +you PRP B-NP +tried VBD B-VP +to TO I-VP +change VB I-VP +, , O +whether IN B-SBAR +it PRP B-NP +was VBD B-VP +cutting VBG B-VP +costs NNS B-NP +or CC O +attracting VBG B-VP +new JJ B-NP +partners NNS I-NP +, , O +the DT B-NP +big JJ I-NP +obstacle NN I-NP +was VBD B-VP +the DT B-NP +old JJ I-NP +union NN I-NP +leadership NN I-NP +, , O +'' '' O +says VBZ B-VP +oil NN B-NP +consultant NN I-NP +George NNP I-NP +Baker NNP I-NP +. . O + +Enter VB B-VP +Mr. NNP B-NP +Guzman NNP I-NP +Cabrera NNP I-NP +, , O +who WP B-NP +has VBZ B-VP +a DT B-NP +clear JJ I-NP +understanding NN I-NP +of IN B-PP +where WRB B-ADVP +union NN B-NP +leaders NNS I-NP +fit VBP B-VP +in IN B-PP +the DT B-NP +pro-enterprise JJ I-NP +regime NN I-NP +of IN B-PP +President NNP B-NP +Salinas NNP I-NP +. . O + +`` `` O +I PRP B-NP +'m VBP B-VP +the DT B-NP +secretary-general NN I-NP +, , O +if IN B-SBAR +there EX B-NP +is VBZ B-VP +one CD B-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +, , O +greeting VBG B-VP +a DT B-NP +visitor NN I-NP +to TO B-PP +his PRP$ B-NP +office NN I-NP +. . O + +Beginning VBG B-VP +as IN B-PP +a DT B-NP +laborer NN I-NP +in IN B-PP +a DT B-NP +refinery NN I-NP +, , O +Mr. NNP B-NP +Guzman NNP I-NP +Cabrera NNP I-NP +put VB B-VP +in IN B-PRT +more JJR B-NP +than IN I-NP +40 CD I-NP +years NNS I-NP +at IN B-PP +Pemex NNP B-NP +before IN B-PP +being VBG B-VP +pushed VBN I-VP +into IN B-PP +retirement NN B-NP +by IN B-PP +La NNP B-NP +Quina NNP I-NP +after IN B-PP +a DT B-NP +dispute NN I-NP +two CD B-NP +years NNS I-NP +ago RB B-ADVP +. . O + +Though IN B-SBAR +he PRP B-NP +also RB B-ADVP +long JJ B-ADVP +benefited VBD B-VP +from IN B-PP +the DT B-NP +system NN I-NP +built VBN B-VP +by IN B-PP +La NNP B-NP +Quina NNP I-NP +, , O +Mr. NNP B-NP +Guzman NNP I-NP +Cabrera NNP I-NP +says VBZ B-VP +union NN B-NP +perks NNS I-NP +had VBN B-VP +simply RB I-VP +gotten VBN I-VP +out IN B-ADJP +of IN B-PP +hand NN B-NP +. . O + +They PRP B-NP +are VBP B-VP +`` `` O +at IN B-PP +the DT B-NP +base NN I-NP +of IN B-PP +all DT B-NP +of IN B-PP +the DT B-NP +problems NNS I-NP +of IN B-PP +corruption NN B-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +Thus RB B-ADVP +, , O +in IN B-PP +recent JJ B-NP +contract NN I-NP +negotiations NNS I-NP +, , O +Mr. NNP B-NP +Guzman NNP I-NP +Cabrera NNP I-NP +gave VBD B-VP +up IN B-PRT +the DT B-NP +union NN I-NP +'s POS B-NP +right NN I-NP +to TO B-VP +assign VB I-VP +40 CD B-NP +% NN I-NP +of IN B-PP +all DT B-NP +of IN B-PP +Pemex NNP B-NP +'s POS B-NP +outside IN I-NP +contracts NNS I-NP +-- : O +an DT B-NP +enormous JJ I-NP +source NN I-NP +of IN B-PP +kickbacks NNS B-NP +. . O + +The DT B-NP +union NN I-NP +also RB B-ADVP +ceded VBD B-VP +the DT B-NP +2 CD I-NP +% NN I-NP +commission NN I-NP +it PRP B-NP +had VBD B-VP +received VBN I-VP +on IN B-PP +all DT B-NP +Pemex NNP I-NP +maintenance NN I-NP +contracts NNS I-NP +. . O + +-LRB- ( O +The DT B-NP +union NN I-NP +will MD B-VP +keep VB I-VP +a DT B-NP +2 CD I-NP +% NN I-NP +commission NN I-NP +on IN B-PP +construction NN B-NP +projects NNS I-NP +. . O +-RRB- ) O + +The DT B-NP +new JJ I-NP +contract NN I-NP +also RB B-ADVP +eliminates VBZ B-VP +the DT B-NP +$ $ I-NP +15 CD I-NP +monthly JJ I-NP +coupon NN I-NP +, , O +good JJ B-ADJP +only RB B-ADVP +at IN B-PP +union-owned JJ B-NP +grocery NN I-NP +stores NNS I-NP +, , O +that WDT B-NP +was VBD B-VP +part NN B-NP +of IN B-PP +the DT B-NP +salary NN I-NP +of IN B-PP +every DT B-NP +worker NN I-NP +, , O +from IN B-PP +roughneck NN B-NP +to TO B-PP +chief JJ B-NP +executive NN I-NP +. . O + +About IN B-NP +9,800 CD I-NP +technical JJ I-NP +workers NNS I-NP +, , O +notably RB B-NP +chemists NNS I-NP +and CC I-NP +lawyers NNS I-NP +, , O +were VBD B-VP +switched VBN I-VP +to TO B-PP +non-union JJ B-NP +status NN I-NP +. . O + +Also RB B-ADVP +, , O +because IN B-PP +of IN I-PP +its PRP$ B-NP +reduced VBN I-NP +capital NN I-NP +budget NN I-NP +, , O +Pemex NNP B-NP +has VBZ B-VP +phased VBN I-VP +out IN B-PRT +about IN B-NP +50,000 CD I-NP +transitory JJ I-NP +construction NN I-NP +workers NNS I-NP +, , O +reducing VBG B-VP +the DT B-NP +work NN I-NP +force NN I-NP +to TO B-PP +about IN B-NP +140,000 CD I-NP +, , O +the DT B-NP +union NN I-NP +leader NN I-NP +says NNS B-VP +. . O + +Mr. NNP B-NP +Guzman NNP I-NP +Cabrera NNP I-NP +says VBZ B-VP +the DT B-NP +union NN I-NP +'s POS B-NP +sacrifices NNS I-NP +will MD B-VP +be VB I-VP +offset VB I-VP +by IN B-PP +a DT B-NP +wage NN I-NP +and CC I-NP +benefit NN I-NP +package NN I-NP +that IN B-NP +amounts NNS B-VP +to TO B-PP +a DT B-NP +22 CD I-NP +% NN I-NP +increase NN I-NP +in IN B-PP +compensation NN B-NP +. . O + +But CC O +Pemex NNP B-NP +managers NNS I-NP +are VBP B-VP +the DT B-NP +ones NNS I-NP +most RBS B-VP +thrilled VBN I-VP +by IN B-PP +the DT B-NP +contract NN I-NP +. . O + +`` `` O +We PRP B-NP +are VBP B-VP +retaking VBG I-VP +the DT B-NP +instruments NNS I-NP +of IN B-PP +administration NN B-NP +, , O +'' '' O +says VBZ B-VP +Raul NNP B-NP +Robles NNP I-NP +, , O +a DT B-NP +Pemex NNP I-NP +subdirector NN I-NP +. . O + +Pemex NNP B-NP +officials NNS I-NP +would MD B-VP +n't RB I-VP +say VB I-VP +how WRB B-NP +much JJ I-NP +money NN I-NP +the DT B-NP +new JJ I-NP +contract NN I-NP +would MD B-VP +save VB I-VP +the DT B-NP +company NN I-NP +, , O +but CC O +one CD B-NP +previous JJ I-NP +government NN I-NP +estimate NN I-NP +pegged VBD B-VP +savings NNS B-NP +at IN B-PP +around IN B-NP +$ $ I-NP +500 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +. . O + +Pemex NNP B-NP +'s POS B-NP +customers NNS I-NP +also RB B-ADVP +are VBP B-VP +pleased VBN I-VP +with IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +new JJ I-NP +spirit NN I-NP +. . O + +Grupo NNP B-NP +Desc NNP I-NP +, , O +a DT B-NP +big JJ I-NP +conglomerate NN I-NP +, , O +has VBZ B-VP +long RB I-VP +depended VBN I-VP +on IN B-PP +Pemex NNP B-NP +petrochemicals NNS I-NP +to TO B-VP +produce VB I-VP +plastic NN B-NP +packing VBG I-NP +material NN I-NP +. . O + +But CC O +when WRB B-ADVP +the DT B-NP +Pemex NNP I-NP +plant NN I-NP +shut VBN B-VP +down RB B-PRT +for IN B-PP +an DT B-NP +annual JJ I-NP +overhaul NN I-NP +, , O +it PRP B-NP +would MD B-VP +never RB I-VP +give VB I-VP +notice NN B-NP +to TO B-PP +its PRP$ B-NP +customers NNS I-NP +. . O + +`` `` O +The DT B-NP +capriciousness NN I-NP +would MD B-VP +completely RB I-VP +disrupt VB I-VP +our PRP$ B-NP +operations NNS I-NP +, , O +'' '' O +says VBZ B-VP +Ernesto NNP B-NP +Vega NNP I-NP +Velasco NNP I-NP +, , O +Desc NNP B-NP +'s POS B-NP +finance NN I-NP +director NN I-NP +. . O + +This DT B-NP +year NN I-NP +, , O +for IN B-PP +the DT B-NP +first JJ I-NP +time NN I-NP +, , O +Desc NNP B-NP +and CC O +other JJ B-NP +customers NNS I-NP +were VBD B-VP +consulted VBN I-VP +well RB B-ADVP +in IN B-PP +advance NN B-NP +of IN B-PP +the DT B-NP +Pemex NNP I-NP +plant NN I-NP +'s POS B-NP +shutdown NN I-NP +to TO B-VP +ensure VB I-VP +minimal JJ B-NP +inconvenience NN I-NP +. . O + +Taming VBG B-VP +the DT B-NP +union NN I-NP +complements VBZ B-VP +previous JJ B-NP +moves NNS I-NP +by IN B-PP +the DT B-NP +government NN I-NP +to TO B-VP +attract VB I-VP +private JJ B-NP +investment NN I-NP +in IN B-PP +petrochemicals NNS B-NP +, , O +which WDT B-NP +Mexico NNP B-NP +has VBZ B-VP +been VBN I-VP +forced VBN I-VP +to TO I-VP +import VB I-VP +in IN B-PP +large JJ B-NP +quantities NNS I-NP +in IN B-PP +recent JJ B-NP +years NNS I-NP +. . O + +In IN B-PP +May NNP B-NP +, , O +the DT B-NP +government NN I-NP +unveiled VBD B-VP +new JJ B-NP +foreign JJ I-NP +investment NN I-NP +regulations NNS I-NP +that WDT B-NP +create VBP B-VP +special JJ B-NP +trusts NNS I-NP +allowing VBG B-VP +foreigners NNS B-NP +, , O +long JJ B-VP +limited JJ I-VP +to TO B-PP +a DT B-NP +40 CD I-NP +% NN I-NP +stake NN I-NP +in IN B-PP +secondary JJ B-NP +petrochemical NN I-NP +companies NNS I-NP +, , O +to TO B-VP +own VB I-VP +up IN B-NP +to TO I-NP +100 CD I-NP +% NN I-NP +. . O + +Later RB B-ADVP +, , O +the DT B-NP +government NN I-NP +reclassified VBD B-VP +several JJ B-NP +basic JJ I-NP +petrochemicals NNS I-NP +as IN B-PP +secondary JJ B-NP +products NNS I-NP +. . O + +But CC O +Pemex NNP B-NP +'s POS B-NP +courtship NN I-NP +with IN B-PP +private JJ B-NP +companies NNS I-NP +, , O +and CC O +especially RB B-ADVP +foreign JJ B-NP +ones NNS I-NP +, , O +is VBZ B-VP +controversial JJ B-ADJP +in IN B-PP +a DT B-NP +country NN I-NP +where WRB B-ADVP +oil NN B-NP +has VBZ B-VP +been VBN I-VP +a DT B-NP +symbol NN I-NP +of IN B-PP +national JJ B-NP +sovereignty NN I-NP +since IN B-SBAR +foreign JJ B-NP +oil NN I-NP +holdings NNS I-NP +were VBD B-VP +nationalized VBN I-VP +in IN B-PP +1938 CD B-NP +. . O + +`` `` O +They PRP B-NP +are VBP B-VP +preparing VBG I-VP +the DT B-NP +workers NNS I-NP +for IN B-PP +what WP B-NP +'s VBZ B-VP +coming VBG I-VP +: : O +foreign JJ B-NP +control NN I-NP +, , O +'' '' O +wrote VBD B-VP +Heberto NNP B-NP +Castillo NNP I-NP +, , O +a DT B-NP +leftist JJ I-NP +leader NN I-NP +. . O + +Mr. NNP B-NP +Guzman NNP I-NP +Cabrera NNP I-NP +and CC O +government NN B-NP +officials NNS I-NP +insist VBP B-VP +that IN B-SBAR +foreigners NNS B-NP +will MD B-VP +be VB I-VP +limited JJ I-VP +to TO B-PP +investing VBG B-VP +in IN B-PP +secondary JJ B-NP +petroleum NN I-NP +products NNS I-NP +. . O + +But CC O +the DT B-NP +new JJ I-NP +union NN I-NP +leader NN I-NP +makes VBZ B-VP +no DT B-NP +apologies NNS I-NP +for IN B-PP +Pemex NNP B-NP +'s POS B-NP +more RBR B-ADJP +outward-looking JJ I-ADJP +attitude NN B-NP +. . O + +`` `` O +If IN B-SBAR +we PRP B-NP +do VBP B-VP +not RB I-VP +integrate VB I-VP +into IN B-PP +this DT B-NP +new JJ I-NP +world NN I-NP +of IN B-PP +interdependence NN B-NP +, , O +sooner RBR B-ADVP +or CC I-ADVP +later RB I-ADVP +we PRP B-NP +'re VBP B-VP +going VBG I-VP +to TO I-VP +become VB I-VP +victims NNS B-NP +of IN B-PP +our PRP$ B-NP +own JJ I-NP +isolation NN I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +Couple JJ B-NP +Counseling NN I-NP +Grows VBZ B-VP +to TO B-VP +Defuse VB I-VP +Stress NN B-NP + +MORE JJR B-NP +EXECUTIVES NNPS I-NP +and CC I-NP +their PRP$ I-NP +spouses NNS I-NP +are VBP B-VP +seeking VBG I-VP +counseling NN B-NP +as IN B-SBAR +work NN B-NP +and CC I-NP +family NN I-NP +pressures NNS I-NP +mount VBP B-VP +. . O + +Some DT B-NP +employers NNS I-NP +initiate VBP B-VP +referrals NNS B-NP +, , O +especially RB B-ADVP +if IN B-SBAR +work NN B-NP +problems NNS I-NP +threaten VBP B-VP +a DT B-NP +top JJ I-NP +manager NN I-NP +'s POS B-NP +job NN I-NP +. . O + +Many JJ B-NP +couples NNS I-NP +`` `` O +are VBP B-VP +like IN B-PP +ships NNS B-NP +passing VBG B-VP +in IN B-PP +the DT B-NP +night NN I-NP +, , O +'' '' O +a DT B-NP +communications NNS I-NP +gulf NN I-NP +that WDT B-NP +sparks VBZ B-VP +problems NNS B-NP +on IN B-PP +the DT B-NP +job NN I-NP +and CC B-PP +at IN B-PP +home NN B-NP +, , O +says VBZ B-VP +psychologist NN B-NP +Harry NNP I-NP +Levinson NNP I-NP +. . O + +His PRP$ B-NP +Levinson NNP I-NP +Institute NNP I-NP +in IN B-PP +Belmont NNP B-NP +, , O +Mass. NNP B-NP +, , O +has VBZ B-VP +seen VBN I-VP +in IN B-PP +recent JJ B-NP +years NNS I-NP +a DT B-NP +doubling NN I-NP +in IN B-PP +the DT B-NP +number NN I-NP +of IN B-PP +executives NNS B-NP +and CC I-NP +spouses NNS I-NP +at IN B-PP +its PRP$ B-NP +weeklong JJ I-NP +counseling NN I-NP +program NN I-NP +. . O + +Employers NNS B-NP +foot VBP B-VP +the DT B-NP +bill NN I-NP +, , O +he PRP B-NP +says VBZ B-VP +, , O +figuring VBG B-VP +what WP B-NP +'s VBZ B-VP +good JJ B-ADJP +for IN B-PP +the DT B-NP +couple NN I-NP +is VBZ B-VP +good JJ B-ADJP +for IN B-PP +the DT B-NP +company NN I-NP +. . O + +One CD B-NP +East NNP I-NP +Coast NNP I-NP +manufacturing NN I-NP +executive NN I-NP +, , O +faced VBN B-VP +with IN B-PP +a DT B-NP +job NN I-NP +transfer VB I-NP +his PRP$ B-NP +wife NN I-NP +resented VBD B-VP +, , O +found VBD B-VP +that DT B-SBAR +counseling NN B-NP +helped VBD B-VP +them PRP B-NP +both DT O +come JJ B-VP +to TO B-PP +grips NNS B-NP +with IN B-PP +the DT B-NP +move NN I-NP +. . O + +And CC O +the DT B-NP +vice NN I-NP +president NN I-NP +of IN B-PP +a DT B-NP +large JJ I-NP +Midwestern JJ I-NP +company NN I-NP +realized VBD B-VP +that IN B-SBAR +an DT B-NP +abrasive JJ I-NP +temperament NN I-NP +threatened VBD B-VP +his PRP$ B-NP +career NN I-NP +when WRB B-ADVP +his PRP$ B-NP +wife NN I-NP +confided VBD B-VP +that IN O +similar JJ B-NP +behavior NN I-NP +at IN B-PP +home NN B-NP +harmed VBD B-VP +their PRP$ B-NP +marriage NN I-NP +. . O + +More RBR B-NP +dual-career JJ I-NP +couples NNS I-NP +also RB B-ADVP +are VBP B-VP +getting VBG I-VP +help VB B-NP +, , O +with IN B-PP +men NNS B-NP +increasingly RB B-ADVP +bringing VBG B-VP +their PRP$ B-NP +working NN I-NP +wives NNS I-NP +for IN B-PP +joint JJ B-NP +counseling NN I-NP +. . O + +`` `` O +The DT B-NP +level NN I-NP +of IN B-PP +stress NN B-NP +for IN B-PP +a DT B-NP +woman NN I-NP +is VBZ B-VP +often RB B-ADVP +so RB B-ADJP +high JJ I-ADJP +, , O +it PRP B-NP +'s VBZ B-VP +the DT B-NP +husband NN I-NP +who WP B-NP +says VBZ B-VP +, , O +` `` O +I PRP B-NP +'m VBP B-VP +worried VBN B-ADJP +about IN B-PP +her PRP$ B-NP +, , O +' '' O +'' '' O +says VBZ B-VP +psychologist NN B-NP +Marjorie NNP I-NP +Hansen NNP I-NP +Shaevitz NNP I-NP +. . O + +Her PRP$ B-NP +Institute NNP I-NP +for IN B-PP +Family NNP B-NP +and CC I-NP +Work NN I-NP +Relationships NNPS I-NP +in IN B-PP +La NNP B-NP +Jolla NNP I-NP +, , O +Calif. NNP B-NP +, , O +has VBZ B-VP +noted VBN I-VP +a DT B-NP +doubling NN I-NP +in IN B-PP +the DT B-NP +number NN I-NP +of IN B-PP +couples NNS B-NP +seeking VBG B-VP +help VB B-NP +the DT B-NP +past JJ I-NP +two CD I-NP +years NNS I-NP +. . O + +`` `` O +No DT B-ADVP +matter NN I-ADVP +how WRB B-ADJP +competent JJ I-ADJP +and CC I-ADJP +smart JJ I-ADJP +you PRP B-NP +both DT O +are VBP B-VP +, , O +the DT B-NP +relationship NN I-NP +almost RB B-ADVP +certainly RB I-ADVP +will MD B-VP +erode VB I-VP +if IN B-SBAR +you PRP B-NP +do VBP B-VP +n't RB I-VP +have VB I-VP +time NN B-NP +to TO B-VP +talk VB I-VP +, , O +to TO B-VP +have VB I-VP +fun NN B-NP +and CC O +to TO B-VP +be VB I-VP +sexual JJ B-ADJP +, , O +'' '' O +says VBZ B-VP +Ms. NNP B-NP +Shaevitz NNP I-NP +. . O + +She PRP B-NP +urges VBZ B-VP +client NN B-NP +couples NNS I-NP +to TO B-VP +begin VB I-VP +a DT B-NP +`` `` I-NP +detoxification NN I-NP +'' '' I-NP +period NN I-NP +, , O +purging VBG B-VP +social JJ B-NP +and CC I-NP +other JJ I-NP +nonproductive JJ I-NP +activities NNS I-NP +and CC O +setting VBG B-VP +time NN B-NP +apart RB B-ADVP +for IN B-PP +themselves PRP B-NP +. . O + +`` `` O +Putting VBG B-VP +those DT B-NP +times NNS I-NP +on IN B-PP +the DT B-NP +calendar NN I-NP +, , O +'' '' O +she PRP B-NP +says VBZ B-VP +, , O +`` `` O +is VBZ B-VP +as RB B-ADJP +important JJ I-ADJP +as IN B-PP +remembering VBG B-VP +business NN B-NP +appointments NNS I-NP +. . O +'' '' O + +Power NNP B-NP +of IN B-PP +Suggestion NNP B-NP +Stronger JJR B-ADJP +in IN B-PP +Japan NNP B-NP + +HERE NNP B-ADVP +'S VBZ B-VP +ONE CD B-NP +more JJR I-NP +explanation NN I-NP +for IN B-PP +why WRB B-ADVP +Japan NNP B-NP +is VBZ B-VP +a DT B-NP +tough JJ I-NP +industrial JJ I-NP +competitor NN I-NP +: : O +Two CD B-NP +of IN I-NP +three CD I-NP +Japanese JJ I-NP +employees NNS I-NP +submit VBP B-VP +suggestions NNS B-NP +to TO B-VP +save VB I-VP +money NN B-NP +, , O +increase NN B-VP +efficiency NN B-NP +and CC O +boost VB B-VP +morale NN B-NP +, , O +while IN B-SBAR +only RB B-NP +8 CD I-NP +% NN I-NP +of IN B-PP +American JJ B-NP +workers NNS I-NP +do VBP B-VP +. . O + +And CC O +the DT B-NP +Japanese JJ I-NP +make NN B-VP +far RB B-NP +more JJR I-NP +suggestions NNS I-NP +-- : O +2,472 CD B-NP +per IN B-PP +100 CD B-NP +eligible JJ I-NP +employees NNS I-NP +vs. IN O +only RB B-NP +13 CD I-NP +per IN B-PP +100 CD B-NP +employees NNS I-NP +in IN B-PP +the DT O + +Data NNS B-NP +for IN B-PP +1987 CD B-NP +from IN B-PP +the DT B-NP +National NNP I-NP +Association NNP I-NP +of IN B-PP +Suggestion NNP B-NP +Systems NNPS I-NP +and CC O +the DT B-NP +Japan NNP I-NP +Human NNP I-NP +Relations NNP I-NP +Association NNP I-NP +also RB B-ADVP +indicate VB B-VP +that IN B-SBAR +Japanese JJ B-NP +employers NNS I-NP +adopt VBP B-VP +four CD B-NP +of IN I-NP +five CD I-NP +suggestions NNS I-NP +, , O +while IN B-SBAR +their PRP$ B-NP +U.S. NNP I-NP +counterparts NNS I-NP +accept VBP B-VP +just RB B-NP +one CD I-NP +in IN I-NP +four CD I-NP +. . O + +In IN B-PP +Japan NNP B-NP +, , O +small JJ B-NP +suggestions NNS I-NP +are VBP B-VP +encouraged VBN I-VP +. . O + +Each DT B-NP +new JJ I-NP +employee NN I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +submit VB I-VP +four CD B-NP +daily JJ B-ADVP +in IN B-PP +the DT B-NP +first JJ I-NP +few JJ I-NP +months NNS I-NP +on IN B-PP +the DT B-NP +job NN I-NP +. . O + +U.S. NNP B-NP +companies NNS I-NP +tend VBP B-VP +to TO I-VP +favor VB I-VP +suggestions NNS B-NP +`` `` O +that WDT B-NP +go VBP B-VP +for IN B-PP +the DT B-NP +home NN I-NP +runs VBZ I-NP +, , O +'' '' O +says VBZ B-VP +Gary NNP B-NP +Floss NNP I-NP +, , O +vice NN B-NP +president NN I-NP +of IN B-PP +corporate JJ B-NP +quality NN I-NP +at IN B-PP +Control NNP B-NP +Data NNP I-NP +Corp NNP I-NP +. . O + +That DT B-NP +helps VBZ B-VP +explain VB I-VP +why WRB B-ADVP +American JJ B-NP +employers NNS I-NP +grant VBP B-VP +an DT B-NP +average JJ I-NP +award NN I-NP +of IN B-PP +$ $ B-NP +604.72 CD I-NP +per IN B-PP +suggestion NN B-NP +, , O +while IN B-SBAR +Japan NNP B-NP +'s POS B-NP +payment NN I-NP +is VBZ B-VP +$ $ B-NP +3.23 CD I-NP +. . O + +Still RB B-ADVP +, , O +suggestions NNS B-NP +' POS B-NP +net JJ I-NP +savings NNS I-NP +per IN B-PP +100 CD B-NP +employees NNS I-NP +is VBZ B-VP +$ $ B-NP +274,475 CD I-NP +in IN B-PP +Japan NNP B-NP +vs. IN O +$ $ B-NP +24,891 CD I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +. . O + +U.S. NNP B-NP +companies NNS I-NP +developing VBG B-VP +management NN B-NP +teams NNS I-NP +are VBP B-VP +wrestling VBG I-VP +with IN B-PP +how WRB B-ADVP +to TO B-VP +handle VB I-VP +individual JJ B-NP +suggestion NN I-NP +systems NNS I-NP +. . O + +Control NNP B-NP +Data NNP I-NP +, , O +for IN B-PP +one CD B-NP +, , O +plays VBZ B-VP +down RB B-PRT +its PRP$ B-NP +employee NN I-NP +suggestion NN I-NP +program NN I-NP +because IN B-SBAR +it PRP B-NP +favors VBZ B-VP +the DT B-NP +team-management NN I-NP +focus NN I-NP +. . O + +Merger NNP B-NP +Fallout NNP I-NP +: : O +Beware VB B-VP +Employee NNP B-NP +Dishonesty NN I-NP + +CORPORATE JJ B-NP +security NN I-NP +directors NNS I-NP +increasingly RB B-ADVP +worry VBP B-VP +that DT O +merger NN B-NP +mania NN I-NP +spawns VBZ B-VP +a DT B-NP +rise NN I-NP +in IN B-PP +employee NN B-NP +dishonesty NN I-NP +. . O + +A DT B-NP +Security NNP I-NP +magazine NN I-NP +survey NN I-NP +places VBZ B-VP +the DT B-NP +effect NN I-NP +of IN B-PP +takeovers NNS B-NP +and CC I-NP +buy-outs NNS I-NP +among IN B-PP +the DT B-NP +industry NN I-NP +'s POS B-NP +10 CD I-NP +biggest JJS I-NP +challenges NNS I-NP +. . O + +`` `` O +If IN B-SBAR +it PRP B-NP +causes VBZ B-VP +management NN B-NP +to TO B-VP +take VB I-VP +their PRP$ B-NP +eye NN I-NP +off IN B-PP +the DT B-NP +ball NN I-NP +, , O +inventory NN B-NP +shrinkage NN I-NP +is VBZ B-VP +going VBG I-VP +to TO I-VP +be VB I-VP +affected VBN I-VP +, , O +'' '' O +says VBZ B-VP +Lewis NNP B-NP +Shealy NNP I-NP +, , O +vice NN B-NP +president NN I-NP +for IN B-PP +loss NN B-NP +prevention NN I-NP +at IN B-PP +Marshall NNP B-NP +Field NNP I-NP +'s POS B-NP +, , O +the DT B-NP +department NN I-NP +store NN I-NP +chain NN I-NP +. . O + +A DT B-NP +separate JJ I-NP +study NN I-NP +of IN B-PP +the DT B-NP +extent NN I-NP +of IN B-PP +employee NN B-NP +misconduct NN I-NP +linked VBD B-VP +general JJ B-NP +job NN I-NP +satisfaction NN I-NP +to TO B-PP +property NN B-NP +loss NN I-NP +. . O + +Co-author NN B-NP +Richard NNP I-NP +Hollinger NNP I-NP +cites VBZ B-VP +what WP B-NP +happened VBD B-VP +at IN B-PP +one CD B-NP +family-owned JJ I-NP +company NN I-NP +absorbed VBN B-VP +by IN B-PP +a DT B-NP +foreign JJ I-NP +giant NN I-NP +. . O + +Pilferage NN B-NP +climbed VBD B-VP +dramatically RB B-ADVP +as IN B-SBAR +many JJ B-NP +angry JJ I-NP +employees NNS I-NP +`` `` O +felt VBD B-VP +abandoned VBN B-ADJP +by IN B-PP +the DT B-NP +former JJ I-NP +owners NNS I-NP +, , O +'' '' O +says VBZ B-VP +the DT O +University NNP O +of IN B-PP +Florida NNP B-NP +sociologist NN B-NP +. . O + +But CC O +top JJ B-NP +management NN I-NP +should MD B-VP +watch VB I-VP +for IN B-PP +other JJ B-NP +tell-tale JJ I-NP +signs NNS I-NP +of IN B-PP +employee NN B-NP +misdeeds NNS I-NP +, , O +like IN B-PP +expense-account NN B-NP +fudging NN I-NP +and CC O +phone NN B-NP +misuse NN I-NP +. . O + +Security NN B-NP +consultant NN I-NP +Dennis NNP I-NP +Dalton NNP I-NP +of IN B-PP +Ventura NNP B-NP +, , O +Calif. NNP B-NP +, , O +thinks VBZ B-VP +mergers NNS B-NP +often RB B-ADVP +trigger VBP B-VP +longer RB B-NP +lunch NN I-NP +hours NNS I-NP +and CC O +increased VBN B-NP +absenteeism NN I-NP +, , O +conduct NN B-NP +which WDT B-NP +can MD B-VP +sap VB I-VP +the DT B-NP +bottom NN I-NP +line NN I-NP +more JJR B-ADVP +than IN B-PP +thefts NNS B-NP +. . O + +New JJ B-NP +management NN I-NP +can MD B-VP +take VB I-VP +several JJ B-NP +steps NNS I-NP +to TO B-VP +reduce VB I-VP +dishonesty NN B-NP +. . O + +Most JJS B-ADJP +important JJ I-ADJP +, , O +experts NNS B-NP +say VBP B-VP +, , O +is VBZ B-VP +to TO B-VP +show VB I-VP +that IN B-SBAR +a DT B-NP +company NN I-NP +'s POS B-NP +ethical JJ I-NP +tone NN I-NP +is VBZ B-VP +set VBN I-VP +at IN B-PP +the DT B-NP +top NN I-NP +. . O + +Mr. NNP B-NP +Dalton NNP I-NP +also RB B-ADVP +recommends VBZ B-VP +that IN B-SBAR +the DT B-NP +chief JJ I-NP +executive NN I-NP +establish VB B-VP +a DT B-NP +rumor NN I-NP +control NN I-NP +center NN I-NP +and CC O +move NN B-VP +swiftly RB B-ADVP +to TO B-VP +bolster VB I-VP +morale NN B-NP +. . O + +Consultant NNP B-NP +John NNP I-NP +Keller NNP I-NP +of IN B-PP +Southlake NNP B-NP +, , O +Texas NNP B-NP +, , O +urges VBZ B-VP +that IN B-SBAR +top JJ B-NP +management NN I-NP +adopt VB B-VP +a DT B-NP +`` `` I-NP +tough JJ I-NP +hands-on JJ I-NP +approach NN I-NP +'' '' O +with IN B-PP +very RB B-NP +tight JJ I-NP +controls NNS I-NP +and CC I-NP +monitoring NN I-NP +. . O + +And CC O +security NN B-NP +authority NN I-NP +Robert NNP I-NP +L. NNP I-NP +Duston NNP I-NP +favors VBZ B-VP +disciplining VBG I-VP +all DT B-NP +employees NNS I-NP +who WP B-NP +cheat VBP B-VP +. . O + +Firms NNS B-NP +Walk VBP B-VP +Fine NNP B-NP +Line NNP I-NP +In IN B-PP +Distributing VBG B-VP +Profits NNS B-NP + +ARE VBP O +CORPORATE JJ B-NP +profits NNS I-NP +distributed VBN B-VP +fairly RB B-ADVP +? . O + +A DT B-NP +survey NN I-NP +by IN B-PP +Sirota NNP B-NP +, , I-NP +Alper NNP I-NP +& CC I-NP +Pfau NNP I-NP +, , O +a DT B-NP +New NNP I-NP +York NNP I-NP +consulting NN I-NP +firm NN I-NP +, , O +underscores VBZ B-VP +the DT B-NP +difficulty NN I-NP +for IN B-PP +top JJ B-NP +management NN I-NP +in IN B-PP +satisfying JJ B-VP +employees NNS B-NP +and CC I-NP +investors NNS I-NP +on IN B-PP +that DT B-NP +score NN I-NP +. . O + +Nearly RB B-NP +seven CD I-NP +of IN I-NP +10 CD I-NP +investors NNS I-NP +think VBP B-VP +companies NNS B-NP +reinvest VBP B-VP +`` `` O +too RB B-NP +little JJ I-NP +'' '' O +of IN B-PP +their PRP$ B-NP +profits NNS I-NP +in IN B-PP +the DT B-NP +business NN I-NP +. . O + +And CC O +half PDT B-NP +the DT I-NP +employees NNS I-NP +surveyed VBN B-VP +think VBP B-VP +companies NNS B-NP +dole VBP B-VP +out IN B-PRT +too RB B-NP +little JJ I-NP +to TO B-PP +them PRP B-NP +. . O + +But CC O +both DT B-NP +see VB B-VP +a DT B-NP +common JJ I-NP +enemy NN I-NP +: : O +About IN B-NP +66 CD I-NP +% NN I-NP +of IN B-PP +employees NNS B-NP +and CC O +73 CD B-NP +% NN I-NP +of IN B-PP +investors NNS B-NP +think VBP B-VP +senior JJ B-NP +managers NNS I-NP +get VBP B-VP +too RB B-NP +big JJ I-NP +a DT I-NP +slice NN I-NP +of IN B-PP +the DT B-NP +profit NN I-NP +pie NN I-NP +. . O + +Bank NNP B-NP +of IN B-PP +New NNP B-NP +York NNP I-NP +Co. NNP I-NP +said VBD B-VP +it PRP B-NP +agreed VBD B-VP +in IN B-PP +principle NN B-NP +to TO B-VP +acquire VB I-VP +the DT B-NP +credit-card NN I-NP +business NN I-NP +of IN B-PP +Houston-based NNP B-NP +First NNP I-NP +City NNP I-NP +Bancorp. NNP I-NP +of IN B-PP +Texas NNP B-NP +for IN B-PP +between IN B-NP +$ $ I-NP +130 CD I-NP +million CD I-NP +and CC I-NP +$ $ I-NP +134 CD I-NP +million CD I-NP +. . O + +The DT B-NP +move NN I-NP +, , O +subject NN B-ADJP +to TO B-PP +a DT B-NP +definitive JJ I-NP +agreement NN I-NP +, , O +is VBZ B-VP +part NN B-NP +of IN B-PP +a DT B-NP +trend NN I-NP +by IN B-PP +big-city JJ B-NP +banks NNS I-NP +that WDT B-NP +have VBP B-VP +been VBN I-VP +buying VBG I-VP +up IN B-PRT +credit-card NN B-NP +portfolios NNS I-NP +to TO B-VP +expand VB I-VP +their PRP$ B-NP +business NN I-NP +. . O + +Just RB B-NP +last JJ I-NP +month NN I-NP +, , O +a DT O +Bank NNP O +of IN B-PP +New NNP B-NP +York NNP I-NP +subsidiary NN B-NP +agreed VBD B-VP +to TO I-VP +buy VB I-VP +the DT B-NP +credit-card NN I-NP +operation NN I-NP +of IN B-PP +Dreyfus NNP B-NP +Corp. NNP I-NP +'s POS B-NP +Dreyfus NNP I-NP +Consumer NNP I-NP +Bank NNP I-NP +for IN B-PP +$ $ B-NP +168 CD I-NP +million CD I-NP +, , O +a DT B-NP +transaction NN I-NP +that WDT B-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +be VB I-VP +completed VBN I-VP +by IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +year NN I-NP +. . O + +First NNP B-NP +City NNP I-NP +'s POS B-NP +portfolio NN I-NP +includes VBZ B-VP +approximately RB B-NP +640,000 CD I-NP +accounts NNS I-NP +with IN B-PP +about RB B-NP +$ $ I-NP +550 CD I-NP +million CD I-NP +in IN B-PP +loans NNS B-NP +outstanding JJ B-ADJP +. . O + +First NNP B-NP +City NNP I-NP +, , O +which WDT B-NP +issues VBZ B-VP +both DT B-NP +MasterCard NNP I-NP +and CC I-NP +Visa NNP I-NP +cards NNS I-NP +, , O +has VBZ B-VP +agreed VBN I-VP +to TO I-VP +act VB I-VP +as IN B-PP +an DT B-NP +agent NN I-NP +bank NN I-NP +. . O + +At IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +, , O +Bank NNP B-NP +of IN B-PP +New NNP B-NP +York NNP I-NP +'s POS B-NP +credit-card NN I-NP +business NN I-NP +consisted VBD B-VP +of IN B-PP +2.4 CD B-NP +million CD I-NP +accounts NNS I-NP +with IN B-PP +$ $ B-NP +3.6 CD I-NP +billion CD I-NP +in IN B-PP +loans NNS B-NP +outstanding JJ B-ADJP +. . O + +Bank NNP B-NP +of IN B-PP +New NNP B-NP +York NNP I-NP +is VBZ B-VP +currently RB B-ADVP +the DT B-NP +seventh-largest JJ I-NP +issuer NN I-NP +of IN B-PP +credit NN B-NP +cards NNS I-NP +in IN B-PP +the DT O + +First NNP B-NP +City NNP I-NP +said VBD B-VP +that IN B-SBAR +because IN B-PP +of IN I-PP +increased VBN B-NP +competition NN I-NP +in IN B-PP +the DT B-NP +credit-card NN I-NP +business NN I-NP +, , O +it PRP B-NP +had VBD B-VP +decided VBN I-VP +it PRP B-NP +either DT B-VP +had VBD I-VP +to TO I-VP +expand VB I-VP +its PRP$ B-NP +own JJ I-NP +holdings NNS I-NP +substantially RB B-ADVP +or CC O +sell VB B-VP +them PRP B-NP +. . O + +`` `` O +We PRP B-NP +think VBP B-VP +there EX B-NP +'s VBZ B-VP +a DT B-NP +good JJ I-NP +prospect NN I-NP +that DT O +competition NN B-NP +is VBZ B-VP +going VBG I-VP +to TO I-VP +get VB I-VP +pretty RB B-ADJP +fierce JJ I-ADJP +in IN B-PP +this DT B-NP +market NN I-NP +, , O +'' '' O +said VBD B-VP +James NNP B-NP +E. NNP I-NP +Day NNP I-NP +, , O +a DT B-NP +First NNP I-NP +City NNP I-NP +vice NN I-NP +president NN I-NP +. . O + +`` `` O +We PRP B-NP +see VBP B-VP +it PRP B-NP +becoming VBG B-VP +a DT B-NP +bargain-basement JJ I-NP +kind NN I-NP +of IN B-PP +business NN B-NP +. . O +'' '' O + +The DT B-NP +company NN I-NP +estimated VBN B-VP +that IN B-SBAR +the DT B-NP +transaction NN I-NP +would MD B-VP +enhance VB I-VP +its PRP$ B-NP +book NN I-NP +value NN I-NP +, , O +which WDT B-NP +stood VBD B-VP +at IN B-PP +$ $ B-NP +28.55 CD I-NP +a DT B-NP +share NN I-NP +on IN B-PP +Sept. NNP B-NP +30 CD I-NP +, , O +by IN B-PP +more JJR B-NP +than IN I-NP +$ $ I-NP +100 CD I-NP +million CD I-NP +, , O +or CC O +about RB B-NP +$ $ I-NP +4 CD I-NP +a DT B-NP +share NN I-NP +. . O + +The DT B-NP +company NN I-NP +also RB B-ADVP +said VBD B-VP +the DT B-NP +transaction NN I-NP +would MD B-VP +bolster VB I-VP +after-tax JJ B-NP +earnings NNS I-NP +by IN B-PP +$ $ B-NP +3.25 CD I-NP +a DT B-NP +share NN I-NP +when WRB B-ADVP +completed VBN B-VP +and CC O +boost VB B-VP +its PRP$ B-NP +primary JJ I-NP +capital NN I-NP +ratio NN I-NP +to TO B-PP +7 CD B-NP +% NN I-NP +from IN B-PP +6.63 CD B-NP +% NN I-NP +. . O + +First NNP B-NP +City NNP I-NP +, , O +which WDT B-NP +recently RB B-ADVP +purchased VBN B-VP +three CD B-NP +small JJ I-NP +Texas NNP I-NP +banking NN I-NP +concerns NNS I-NP +, , O +said VBD B-VP +it PRP B-NP +would MD B-VP +use VB I-VP +the DT B-NP +proceeds NNS I-NP +to TO B-VP +pursue VB I-VP +additional JJ B-NP +expansion NN I-NP +opportunities NNS I-NP +in IN B-PP +the DT B-NP +Southwest NNP I-NP +and CC O +elsewhere RB B-ADVP +. . O + +With IN B-SBAR +that DT B-NP +possibility NN I-NP +in IN B-PP +mind NN B-NP +, , O +analysts NNS B-NP +said VBD B-VP +the DT B-NP +transaction NN I-NP +was VBD B-VP +a DT B-NP +positive JJ I-NP +move NN I-NP +for IN B-PP +First NNP B-NP +City NNP I-NP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +they PRP B-NP +'ll MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +move VB I-VP +faster RBR B-ADVP +to TO B-VP +make VB I-VP +acquisitions NNS B-NP +in IN B-PP +Texas NNP B-NP +, , O +'' '' O +said VBD B-VP +Brent NNP B-NP +Erensel NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +with IN B-PP +Donaldson NNP B-NP +, , I-NP +Lufkin NNP I-NP +& CC I-NP +Jenrette NNP I-NP +. . O + +`` `` O +That DT B-NP +'s VBZ B-VP +something NN B-NP +they PRP B-NP +can MD B-VP +do VB I-VP +very RB B-ADVP +well RB I-ADVP +. . O + +British JJ B-NP +Airways NNP I-NP +PLC NNP I-NP +said VBD B-VP +it PRP B-NP +is VBZ B-VP +seeking VBG I-VP +improved VBN B-NP +terms NNS I-NP +and CC O +a DT B-NP +sharply RB I-NP +lower JJR I-NP +price NN I-NP +in IN B-PP +any DT B-NP +revised VBN I-NP +bid NN I-NP +for IN B-PP +United NNP B-NP +Airlines NNPS I-NP +parent NN I-NP +UAL NNP B-NP +Corp. NNP I-NP +following VBG B-PP +the DT B-NP +collapse NN I-NP +of IN B-PP +a DT B-NP +$ $ I-NP +6.79 CD I-NP +billion CD I-NP +, , I-NP +$ $ I-NP +300-a-share JJ I-NP +buy-out NN I-NP +bid NN I-NP +. . O + +Derek NNP B-NP +Stevens NNP I-NP +, , O +British NNP B-NP +Air NNP I-NP +'s POS B-NP +chief JJ I-NP +financial JJ I-NP +officer NN I-NP +, , O +told VBD B-VP +Dow NNP B-NP +Jones NNP I-NP +Professional NNP I-NP +Investor NNP I-NP +Report NNP I-NP +a DT B-NP +price NN I-NP +of IN B-PP +$ $ B-NP +230 CD I-NP +a DT B-NP +share NN I-NP +is VBZ B-VP +`` `` O +certainly RB B-ADVP +not RB O +too RB B-ADJP +low JJ I-ADJP +, , O +'' '' O +and CC O +indicated VBD B-VP +his PRP$ B-NP +company NN I-NP +would MD B-VP +like VB I-VP +to TO I-VP +reduce VB I-VP +the DT B-NP +size NN I-NP +of IN B-PP +its PRP$ B-NP +$ $ I-NP +750 CD I-NP +million CD I-NP +cash NN I-NP +investment NN I-NP +. . O + +He PRP B-NP +added VBD B-VP +the DT B-NP +airline NN I-NP +is VBZ B-VP +n't RB I-VP +committed VBN I-VP +to TO B-PP +going VBG B-VP +forward RB B-ADVP +with IN B-PP +any DT B-NP +new JJ I-NP +bid NN I-NP +, , O +and CC O +has VBZ B-VP +n't RB I-VP +participated VBN I-VP +in IN B-PP +bankers NNS B-NP +' POS B-NP +efforts NNS I-NP +to TO B-VP +revive VB I-VP +the DT B-NP +transaction NN I-NP +that WDT B-NP +collapsed VBD B-VP +. . O + +`` `` O +We PRP B-NP +'re VBP B-VP +in IN B-PP +no DT B-NP +way NN I-NP +committed VBN B-VP +to TO B-PP +a DT B-NP +deal NN I-NP +going VBG B-VP +through IN B-ADVP +at IN B-ADVP +all DT I-ADVP +. . O + +We PRP B-NP +'re VBP B-VP +not RB I-VP +rushing VBG I-VP +into IN B-PP +anything NN B-NP +. . O + +We PRP B-NP +do VBP B-VP +n't RB I-VP +want VB I-VP +to TO I-VP +be VB I-VP +party NN B-NP +to TO B-PP +a DT B-NP +second JJ I-NP +rejection NN I-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +, , O +adding VBG B-VP +that IN B-SBAR +coming VBG B-VP +up IN B-PRT +with IN B-PP +a DT B-NP +revised VBN I-NP +offer NN I-NP +could MD B-VP +easily RB I-VP +take VB I-VP +several JJ B-NP +weeks NNS I-NP +. . O + +Mr. NNP B-NP +Stevens NNP I-NP +'s POS B-NP +remarks NNS I-NP +, , O +confirming VBG B-VP +a DT B-NP +report NN I-NP +in IN B-PP +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +that IN B-SBAR +British NNP B-NP +Air NNP I-NP +wants VBZ B-VP +to TO I-VP +start VB I-VP +from IN B-PP +scratch NN B-NP +in IN B-PP +any DT B-NP +new JJ I-NP +bid NN I-NP +for IN B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +second-largest JJ I-NP +airline NN I-NP +, , O +helped VBD B-VP +push VB I-VP +UAL NNP B-NP +stock NN I-NP +lower JJR B-ADVP +for IN B-PP +the DT B-NP +fourth JJ I-NP +straight JJ I-NP +day NN I-NP +. . O + +UAL NNP B-NP +fell VBD B-VP +$ $ B-NP +6.25 CD I-NP +a DT B-NP +share NN I-NP +to TO B-PP +$ $ B-NP +191.75 CD I-NP +on IN B-PP +volume NN B-NP +of IN B-PP +2.3 CD B-NP +million CD I-NP +shares NNS I-NP +in IN B-PP +composite JJ B-NP +trading NN I-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +as IN B-SBAR +concern NN B-NP +deepened VBD B-VP +among IN B-PP +takeover NN B-NP +stock NN I-NP +traders NNS I-NP +about IN B-PP +the DT B-NP +length NN I-NP +of IN B-PP +time NN B-NP +it PRP B-NP +will MD B-VP +take VB I-VP +to TO B-VP +revive VB I-VP +the DT B-NP +purchase NN I-NP +. . O + +Under IN B-PP +the DT B-NP +original JJ I-NP +buy-out NN I-NP +approved VBN B-VP +by IN B-PP +the DT B-NP +UAL NNP I-NP +board NN I-NP +Sept. NNP B-NP +14 CD I-NP +, , O +UAL NNP B-NP +'s POS B-NP +pilots NNS I-NP +planned VBN B-VP +to TO I-VP +put VB I-VP +up IN B-PRT +$ $ B-NP +200 CD I-NP +million CD I-NP +in IN B-PP +cash NN B-NP +and CC O +make VB B-VP +$ $ B-NP +200 CD I-NP +million CD I-NP +in IN B-PP +annual JJ B-NP +cost NN I-NP +concessions NNS I-NP +for IN B-PP +a DT B-NP +75 CD I-NP +% NN I-NP +stake NN I-NP +. . O + +UAL NNP B-NP +management NN I-NP +was VBD B-VP +to TO I-VP +pay VB I-VP +$ $ B-NP +15 CD I-NP +million CD I-NP +for IN B-PP +10 CD B-NP +% NN I-NP +, , O +and CC O +British NNP B-NP +Air NNP I-NP +was VBD B-VP +to TO I-VP +receive VB I-VP +a DT B-NP +15 CD I-NP +% NN I-NP +stake NN I-NP +. . O + +The DT B-NP +buy-out NN I-NP +fell VBD B-VP +through IN B-ADVP +when WRB B-ADVP +Citicorp NNP B-NP +and CC O +Chase NNP B-NP +Manhattan NNP I-NP +Corp. NNP I-NP +unexpectedly RB B-ADVP +failed VBD B-VP +to TO I-VP +obtain VB I-VP +bank NN B-NP +financing NN I-NP +. . O + +Since IN B-PP +then RB B-NP +, , O +UAL NNP B-NP +stock NN I-NP +has VBZ B-VP +fallen VBN I-VP +33 CD B-NP +% NN I-NP +in IN B-PP +what WP B-NP +may MD B-VP +rank VB I-VP +as IN B-PP +the DT B-NP +largest JJS I-NP +collapse NN I-NP +of IN B-PP +a DT B-NP +takeover NN I-NP +stock NN I-NP +ever RB B-ADVP +. . O + +The DT B-NP +tenor NN I-NP +of IN B-PP +Mr. NNP B-NP +Stevens NNP I-NP +'s POS B-NP +remarks NNS I-NP +seemed VBD B-VP +to TO I-VP +indicate VB I-VP +that IN B-SBAR +British NNP B-NP +Air NNP I-NP +will MD B-VP +take VB I-VP +a DT B-NP +more RBR I-NP +active JJ I-NP +, , I-NP +high-profile JJ I-NP +role NN I-NP +in IN B-PP +pursuing VBG B-VP +any DT B-NP +new JJ I-NP +bid NN I-NP +. . O + +He PRP B-NP +said VBD B-VP +he PRP B-NP +believes VBZ B-VP +UAL NNP B-NP +management NN I-NP +was VBD B-VP +badly RB I-VP +advised VBN I-VP +on IN B-PP +the DT B-NP +funding NN I-NP +of IN B-PP +its PRP$ B-NP +original JJ I-NP +transaction NN I-NP +. . O + +Mr. NNP B-NP +Stevens NNP I-NP +said VBD B-VP +British NNP B-NP +Air NNP I-NP +has VBZ B-VP +n't RB I-VP +received VBN I-VP +any DT B-NP +new JJ I-NP +buy-out NN I-NP +proposals NNS I-NP +from IN B-PP +the DT B-NP +labor-management JJ I-NP +group NN I-NP +, , O +led VBN B-VP +by IN B-PP +UAL NNP B-NP +Chairman NNP I-NP +Stephen NNP I-NP +Wolf NNP I-NP +, , O +and CC O +has VBZ B-VP +n't RB I-VP +received VBN I-VP +any DT B-NP +indication NN I-NP +of IN B-PP +when WRB B-ADVP +one PRP B-NP +might MD B-VP +be VB I-VP +forthcoming JJ B-ADJP +. . O + +`` `` O +As RB B-ADVP +far RB I-ADVP +as IN B-SBAR +we PRP B-NP +'re VBP B-VP +concerned VBN B-ADJP +, , O +we PRP B-NP +'re VBP B-VP +waiting VBG I-VP +for IN B-SBAR +the DT B-NP +dust NN I-NP +to TO B-VP +settle VB I-VP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +Although IN B-SBAR +British NNP B-NP +Air NNP I-NP +is VBZ B-VP +waiting VBG I-VP +to TO I-VP +see VB I-VP +what WP B-NP +the DT B-NP +buy-out NN I-NP +group NN I-NP +comes VBZ B-VP +up IN B-PRT +with IN B-PP +, , O +Mr. NNP B-NP +Stevens NNP I-NP +said VBD B-VP +a DT B-NP +revised VBN I-NP +transaction NN I-NP +with IN B-PP +less JJR B-NP +debt NN I-NP +leverage NN I-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +more RBR B-ADJP +attractive JJ I-ADJP +to TO B-PP +banks NNS B-NP +. . O + +He PRP B-NP +said VBD B-VP +the DT B-NP +original JJ I-NP +proposal NN I-NP +is VBZ B-VP +dead JJ B-ADJP +, , O +and CC O +all DT B-NP +aspects NNS I-NP +of IN B-PP +a DT B-NP +revised VBN I-NP +version NN I-NP +are VBP B-VP +up IN B-ADVP +for IN B-PP +change NN B-NP +, , O +in IN B-PP +light NN B-NP +of IN B-PP +the DT B-NP +changes NNS I-NP +in IN B-PP +UAL NNP B-NP +'s POS B-NP +market NN I-NP +price NN I-NP +, , O +the DT B-NP +amount NN I-NP +of IN B-PP +debt NN B-NP +banks NNS B-NP +are VBP B-VP +willing JJ B-ADJP +to TO B-VP +fund VB I-VP +, , O +and CC O +the DT B-NP +price NN I-NP +British NNP B-NP +Air NNP I-NP +would MD B-VP +be VB I-VP +willing JJ B-ADJP +to TO B-VP +pay VB I-VP +. . O + +Mr. NNP B-NP +Stevens NNP I-NP +said VBD B-VP +he PRP B-NP +expects VBZ B-VP +the DT B-NP +new JJ I-NP +price NN I-NP +will MD B-VP +be VB I-VP +considerably RB B-ADJP +lower JJR I-ADJP +, , O +but CC O +declined VBD B-VP +to TO I-VP +specify VB I-VP +a DT B-NP +figure NN I-NP +. . O + +Asked VBN B-VP +whether IN B-SBAR +a DT B-NP +$ $ I-NP +230-a-share JJ I-NP +figure NN I-NP +circulating VBG B-VP +in IN B-PP +the DT B-NP +market NN I-NP +yesterday NN B-NP +is VBZ B-VP +too RB B-ADJP +low JJ I-ADJP +, , O +he PRP B-NP +said VBD B-VP +, , O +`` `` O +It PRP B-NP +'s VBZ B-VP +certainly RB B-ADVP +not RB O +too RB B-ADJP +low JJ I-ADJP +. . O +'' '' O + +He PRP B-NP +added VBD B-VP +the DT B-NP +original JJ I-NP +offer NN I-NP +was VBD B-VP +`` `` O +a DT B-NP +pretty RB I-NP +full JJ I-NP +price NN I-NP +, , O +'' '' O +and CC O +that IN B-SBAR +British NNP B-NP +Air NNP I-NP +'s POS B-NP +contribution NN I-NP +`` `` O +was VBD B-VP +quite RB B-NP +a DT I-NP +large JJ I-NP +chunk NN I-NP +for IN B-PP +us PRP B-NP +. . O +'' '' O + +British NNP B-NP +Air NNP I-NP +was VBD B-VP +originally RB I-VP +attracted VBN I-VP +to TO B-PP +the DT B-NP +chance NN I-NP +of IN B-PP +obtaining VBG B-VP +a DT B-NP +15 CD I-NP +% NN I-NP +stake NN I-NP +in IN B-PP +the DT B-NP +company NN I-NP +, , O +but CC O +was VBD B-VP +n't RB O +particularly RB B-ADJP +happy JJ I-ADJP +with IN B-PP +paying VBG B-VP +$ $ B-NP +750 CD I-NP +million CD I-NP +. . O + +`` `` O +If IN B-SBAR +the DT B-NP +-LCB- ( O +new JJ O +-RCB- ) O +deal NN B-NP +had VBD B-VP +us PRP B-NP +putting VBG B-VP +up IN B-PRT +less JJR B-NP +money NN I-NP +but CC O +still RB B-VP +having VBG I-VP +15 CD B-NP +% NN I-NP +, , O +that WDT B-NP +would MD B-VP +be VB I-VP +a DT B-NP +point NN I-NP +in IN B-PP +our PRP$ B-NP +favor NN I-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +In IN B-PP +any DT B-NP +new JJ I-NP +proposal NN I-NP +, , O +British NNP B-NP +Air NNP I-NP +would MD B-VP +expect VB I-VP +a DT B-NP +greater JJR I-NP +rate NN I-NP +of IN B-PP +return NN B-NP +than IN B-PP +the DT B-NP +20%-plus NN I-NP +in IN B-PP +the DT B-NP +original JJ I-NP +proposal NN I-NP +. . O + +In IN B-PP +the DT B-NP +event NN I-NP +that IN B-SBAR +the DT B-NP +buy-out NN I-NP +group NN I-NP +stalls NNS B-VP +in IN B-PP +reviving VBG B-VP +its PRP$ B-NP +bid NN I-NP +, , O +the DT B-NP +UAL NNP I-NP +board NN I-NP +could MD B-VP +remain VB I-VP +under IN B-PP +some DT B-NP +pressure NN I-NP +to TO B-VP +seek VB I-VP +another DT B-NP +transaction NN I-NP +, , O +even RB B-ADVP +without IN B-PP +any DT B-NP +legal JJ I-NP +obligation NN I-NP +to TO B-VP +do VB I-VP +so RB B-ADVP +. . O + +Roughly RB B-NP +one-third NN I-NP +of IN B-PP +its PRP$ B-NP +stock NN I-NP +is VBZ B-VP +believed VBN I-VP +held VBN I-VP +by IN B-PP +takeover NN B-NP +stock NN I-NP +traders NNS I-NP +, , O +who WP B-NP +could MD B-VP +vote VB I-VP +to TO I-VP +oust VB I-VP +the DT B-NP +board NN I-NP +if IN B-SBAR +they PRP B-NP +become VBP B-VP +impatient JJ B-NP +. . O + +Meanwhile RB B-ADVP +, , O +the DT B-NP +buy-out NN I-NP +group NN I-NP +'s POS B-NP +task NN I-NP +of IN B-PP +holding VBG B-VP +its PRP$ B-NP +fragile JJ I-NP +coalition NN I-NP +together RB B-ADVP +, , O +in IN B-PP +the DT B-NP +face NN I-NP +of IN B-PP +the DT B-NP +bid NN I-NP +'s POS B-NP +collapse NN I-NP +and CC O +internal JJ B-NP +opposition NN I-NP +from IN B-PP +two CD B-NP +other JJ I-NP +employee NN I-NP +groups NNS I-NP +, , O +has VBZ B-VP +been VBN I-VP +further RB I-VP +complicated VBN I-VP +by IN B-PP +an DT B-NP +apparent JJ I-NP +rift NN I-NP +in IN B-PP +the DT B-NP +ranks NNS I-NP +of IN B-PP +the DT B-NP +pilot NN I-NP +union NN I-NP +itself PRP B-NP +. . O + +A DT B-NP +pilot NN I-NP +representing VBG B-VP +a DT B-NP +group NN I-NP +of IN B-PP +220 CD B-NP +pilots NNS I-NP +hired VBN B-VP +during IN B-PP +United NNP B-NP +'s POS B-NP +1985 CD I-NP +strike NN I-NP +filed VBD B-VP +suit NN B-NP +Friday NNP B-NP +in IN B-PP +Chicago NNP B-NP +federal JJ I-NP +court NN I-NP +to TO B-VP +block VB I-VP +the DT B-NP +takeover NN I-NP +. . O + +The DT B-NP +dissident JJ I-NP +pilots NNS I-NP +oppose VBP B-VP +the DT B-NP +plan NN I-NP +because IN B-SBAR +it PRP B-NP +would MD B-VP +cause VB I-VP +them PRP B-NP +to TO B-VP +lose VB I-VP +their PRP$ B-NP +seniority NN I-NP +. . O + +UAL NNP B-NP +'s POS B-NP +management NN I-NP +agreed VBD B-VP +to TO I-VP +reduce VB I-VP +the DT B-NP +seniority NN I-NP +of IN B-PP +those DT B-NP +pilots NNS I-NP +in IN B-PP +exchange NN B-NP +for IN B-PP +the DT B-NP +support NN I-NP +of IN B-PP +the DT B-NP +United NNP I-NP +pilot NN I-NP +union NN I-NP +for IN B-PP +the DT B-NP +buy-out NN I-NP +proposal NN I-NP +. . O + +The DT B-NP +220 CD I-NP +pilots NNS I-NP +involved VBN B-VP +in IN B-PP +the DT B-NP +suit NN I-NP +are VBP B-VP +n't RB O +members NNS B-NP +of IN B-PP +the DT B-NP +union NN I-NP +. . O + +The DT B-NP +airline NN I-NP +had VBD B-VP +allowed VBN I-VP +them PRP B-NP +to TO B-VP +move VB I-VP +ahead RB B-ADVP +of IN B-PP +some DT B-NP +union NN I-NP +members NNS I-NP +in IN B-PP +seniority NN B-NP +following VBG B-PP +the DT B-NP +1985 CD I-NP +strike NN I-NP +, , O +a DT B-NP +move NN I-NP +the DT B-NP +union NN I-NP +had VBD B-VP +contested VBN I-VP +in IN B-PP +a DT B-NP +previous JJ I-NP +lawsuit NN I-NP +. . O + +Judith NNP B-NP +Valente NNP I-NP +contributed VBD B-VP +to TO B-PP +this DT B-NP +article NN I-NP +. . O + +Corporate JJ B-NP +efforts NNS I-NP +to TO B-VP +control VB I-VP +health-care NN B-NP +costs NNS I-NP +by IN B-PP +requiring VBG B-VP +evaluations NNS B-NP +prior RB B-PP +to TO I-PP +planned VBN B-NP +hospitalization NN I-NP +and CC I-NP +surgery NN I-NP +have VBP B-VP +n't RB I-VP +been VBN I-VP +sweeping VBG B-ADJP +enough RB I-ADJP +to TO B-VP +reduce VB I-VP +the DT B-NP +long-term JJ I-NP +rate NN I-NP +of IN B-PP +cost NN B-NP +increases NNS I-NP +, , O +according VBG B-PP +to TO B-PP +a DT B-NP +study NN I-NP +by IN B-PP +the DT B-NP +Institute NNP I-NP +of IN B-PP +Medicine NNP B-NP +. . O + +In IN B-PP +the DT B-NP +last JJ I-NP +decade NN I-NP +, , O +many JJ B-NP +corporations NNS I-NP +have VBP B-VP +embraced VBN I-VP +the DT B-NP +`` `` I-NP +utilization NN I-NP +management NN I-NP +'' '' I-NP +cost NN I-NP +containment NN I-NP +strategy NN I-NP +as IN B-PP +a DT B-NP +way NN I-NP +to TO B-VP +control VB I-VP +health-care NN B-NP +costs NNS I-NP +for IN B-PP +employees NNS B-NP +. . O + +These DT B-NP +programs NNS I-NP +vary VBP B-VP +widely RB B-ADVP +, , O +but CC O +often RB B-VP +require VB I-VP +second JJ B-NP +opinions NNS I-NP +on IN B-PP +proposed VBN B-NP +surgery NN I-NP +, , O +preadmission NN B-NP +reviews NNS I-NP +of IN B-PP +elective JJ B-NP +hospitalizations NNS I-NP +and CC O +reviews NNS B-NP +of IN B-PP +treatment NN B-NP +during IN B-PP +illnesses NNS B-NP +or CC O +recovery NN B-NP +periods NNS I-NP +. . O + +Between IN B-NP +50 CD I-NP +% NN I-NP +and CC I-NP +75 CD I-NP +% NN I-NP +of IN B-PP +today NN B-NP +'s POS B-NP +workers NNS I-NP +are VBP B-VP +covered VBN I-VP +by IN B-PP +such JJ B-NP +plans NNS I-NP +, , O +up IN B-ADVP +from IN B-PP +5 NN B-NP +% NN I-NP +five CD B-NP +years NNS I-NP +ago RB B-ADVP +. . O + +`` `` O +Although IN B-SBAR +it PRP B-NP +probably RB B-ADVP +has VBZ B-VP +reduced VBN I-VP +the DT B-NP +level NN I-NP +of IN B-PP +expenditures NNS B-NP +for IN B-PP +some DT B-NP +purchasers NNS I-NP +, , O +utilization NN B-NP +management NN I-NP +-- : O +like IN B-PP +most RBS B-NP +other JJ I-NP +cost NN I-NP +containment NN I-NP +strategies NNS I-NP +-- : O +does VBZ B-VP +n't RB I-VP +appear VB I-VP +to TO I-VP +have VB I-VP +altered VBN I-VP +the DT B-NP +long-term JJ I-NP +rate NN I-NP +of IN B-PP +increase NN B-NP +in IN B-PP +health-care NN B-NP +costs NNS I-NP +, , O +'' '' O +the DT B-NP +Institute NNP I-NP +of IN B-PP +Medicine NNP B-NP +, , O +an DT B-NP +affiliate NN I-NP +of IN B-PP +the DT B-NP +National NNP I-NP +Academy NNP I-NP +of IN B-PP +Sciences NNPS B-NP +, , O +concluded VBD B-VP +after IN B-PP +a DT B-NP +two-year JJ I-NP +study NN I-NP +. . O + +`` `` O +Employers NNS B-NP +who WP B-NP +saw VBD B-VP +a DT B-NP +short-term JJ I-NP +moderation NN I-NP +in IN B-PP +benefit NN B-NP +expenditures NNS I-NP +are VBP B-VP +seeing VBG I-VP +a DT B-NP +return NN I-NP +to TO B-PP +previous JJ B-NP +trends NNS I-NP +. . O +'' '' O + +While IN B-SBAR +utilization NN B-NP +management NN I-NP +frequently RB B-ADVP +reduces VBZ B-VP +hospitalization NN B-NP +costs NNS I-NP +, , O +these DT B-NP +savings NNS I-NP +are VBP B-VP +often RB I-VP +offset VB I-VP +by IN B-PP +increases NNS B-NP +in IN B-PP +outpatient NN B-NP +services NNS I-NP +and CC O +higher JJR B-NP +administrative JJ I-NP +costs NNS I-NP +, , O +according VBG B-PP +to TO B-PP +the DT B-NP +report NN I-NP +by IN B-PP +a DT B-NP +panel NN I-NP +of IN B-PP +health-care NN B-NP +experts NNS I-NP +. . O + +The DT B-NP +report NN I-NP +suggested VBD B-VP +that IN O +current JJ B-NP +review NN I-NP +programs NNS I-NP +are VBP B-VP +too RB B-ADJP +narrow JJ I-ADJP +. . O + +`` `` O +The DT B-NP +unnecessary JJ I-NP +and CC I-NP +inappropriate JJ I-NP +use NN I-NP +of IN B-PP +the DT B-NP +hospital NN I-NP +, , B-NP +and CC I-NP +not RB I-NP +the DT B-NP +actual JJ I-NP +need NN I-NP +for IN B-PP +a DT B-NP +particular JJ I-NP +procedure NN I-NP +, , O +has VBZ B-VP +been VBN I-VP +the DT B-NP +main JJ I-NP +focus NN I-NP +, , O +'' '' O +the DT B-NP +panel NN I-NP +said VBD B-VP +. . O + +`` `` O +As IN B-PP +a DT B-NP +general JJ I-NP +rule NN I-NP +, , O +prior-review JJ B-NP +programs NNS I-NP +have VBP B-VP +not RB I-VP +made VBN I-VP +case-by-case JJ B-NP +assessments NNS I-NP +of IN B-PP +the DT B-NP +comparative JJ I-NP +costs NNS I-NP +of IN B-PP +alternative NN B-NP +treatments NNS I-NP +or CC I-NP +sites NNS I-NP +of IN B-PP +care NN B-NP +. . O +'' '' O + +The DT B-NP +report NN I-NP +said VBD B-VP +that DT O +utilization NN B-NP +management NN I-NP +should MD B-VP +have VB I-VP +more JJR B-NP +of IN B-PP +an DT B-NP +impact NN I-NP +as IN B-SBAR +federal JJ B-NP +research NN I-NP +on IN B-PP +the DT B-NP +effectiveness NN I-NP +of IN B-PP +medical JJ B-NP +treatments NNS I-NP +helps VBZ B-VP +lead VBN I-VP +to TO B-PP +medical JJ B-NP +practice NN I-NP +guidelines NNS I-NP +. . O + +Howard NNP B-NP +Bailit NNP I-NP +, , O +a DT B-NP +panel NN I-NP +member NN I-NP +and CC O +a DT B-NP +vice NN I-NP +president NN I-NP +of IN B-PP +Aetna NNP B-NP +Life NNP I-NP +& CC I-NP +Casualty NNP I-NP +, , O +said VBD B-VP +that DT O +utilization NN B-NP +management NN I-NP +will MD B-VP +also RB I-VP +do VB I-VP +a DT B-NP +better JJR I-NP +job NN I-NP +of IN B-PP +containing VBG B-VP +costs NNS B-NP +as IN B-SBAR +it PRP B-NP +spreads VBZ B-VP +to TO I-VP +cover VB I-VP +medical JJ B-NP +services NNS I-NP +delivered VBN B-VP +outside IN B-ADVP +of IN B-PP +hospitals NNS B-NP +. . O + +`` `` O +There EX B-NP +'s VBZ B-VP +pretty RB B-NP +good JJ I-NP +evidence NN I-NP +that DT O +utilization NN B-NP +management NN I-NP +has VBZ B-VP +reduced VBN I-VP +inappropriate JJ B-NP +hospitalization NN I-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +But CC O +at IN B-PP +the DT B-NP +same JJ I-NP +time NN I-NP +, , O +spending NN B-NP +on IN B-PP +physician NN B-NP +services NNS I-NP +and CC O +ambulatory JJ B-NP +care NN I-NP +have VBP B-VP +mushroomed VBN I-VP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +like IN B-PP +squeezing VBG B-VP +a DT B-NP +balloon NN I-NP +, , O +'' '' O +Dr. NNP B-NP +Bailit NNP I-NP +said VBD B-VP +. . O + +David NNP B-NP +Rahill NNP I-NP +of IN B-PP +A. NNP B-NP +Foster NNP I-NP +Higgins NNP I-NP +& CC I-NP +Co. NNP I-NP +said VBD B-VP +that IN B-SBAR +clients NNS B-NP +of IN B-PP +his PRP$ B-NP +consulting NN I-NP +firm NN I-NP +report NN B-VP +that DT O +utilization NN B-NP +management NN I-NP +reduces VBZ B-VP +their PRP$ B-NP +hospital NN I-NP +care NN I-NP +bills NNS I-NP +by IN B-PP +about IN B-NP +5 NN I-NP +% NN I-NP +, , O +but CC O +he PRP B-NP +agreed VBD B-VP +that IN B-SBAR +for IN B-PP +the DT B-NP +health-care NN I-NP +system NN I-NP +as IN B-PP +whole JJ B-ADJP +, , O +some DT B-NP +of IN B-PP +these DT B-NP +savings NNS I-NP +are VBP B-VP +offset VB I-VP +by IN B-PP +administrative JJ O +and CC O +outpatient NN B-NP +care NN I-NP +costs NNS B-NP +. . O + +Jerome NNP B-NP +Grossman NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +the DT B-NP +panel NN I-NP +, , O +agrees VBZ B-VP +that IN B-SBAR +administrative JJ B-NP +costs NNS I-NP +of IN B-PP +utilization NN B-NP +management NN I-NP +programs NNS I-NP +can MD B-VP +be VB I-VP +high JJ B-ADJP +. . O + +`` `` O +You PRP B-NP +have VBP B-VP +a DT B-NP +whole JJ I-NP +staff NN I-NP +standing VBG B-VP +ready JJ B-ADJP +'' '' O +to TO B-VP +evaluate VB I-VP +the DT B-NP +appropriateness NN I-NP +of IN B-PP +recommended VBN B-NP +treatment NN I-NP +, , O +he PRP B-NP +said VBD B-VP +. . O + +Dr. NNP B-NP +Grossman NNP I-NP +, , O +who WP B-NP +also RB B-ADVP +is VBZ B-VP +president NN B-NP +of IN B-PP +New NNP B-NP +England NNP I-NP +Medical NNP I-NP +Center NNP I-NP +Hospitals NNS I-NP +in IN B-PP +Boston NNP B-NP +, , O +noted VBD B-VP +that IN B-SBAR +the DT B-NP +hospitals NNS I-NP +he PRP B-NP +runs VBZ B-VP +deal NN B-VP +with IN B-PP +more JJR B-NP +than IN I-NP +100 CD I-NP +utilization NN I-NP +management NN I-NP +firms NNS I-NP +and CC O +that IN B-SBAR +many NN B-NP +of IN B-PP +them PRP B-NP +have VBP B-VP +different JJ B-NP +procedures NNS I-NP +and CC I-NP +requirements NNS I-NP +. . O + +The DT B-NP +panel NN I-NP +urged VBD B-VP +greater JJR B-NP +efforts NNS I-NP +to TO B-VP +reduce VB I-VP +the DT B-NP +complexity NN I-NP +, , I-NP +paperwork NN I-NP +and CC I-NP +cost NN I-NP +of IN B-PP +utilization NN B-NP +review NN I-NP +. . O + +`` `` O +Utilization NN B-NP +management NN I-NP +needs VBZ B-VP +to TO I-VP +better JJR I-VP +demonstrate VB I-VP +that IN B-SBAR +it PRP B-NP +reduces VBZ B-VP +the DT B-NP +wasteful JJ I-NP +use NN I-NP +of IN B-PP +resources NNS B-NP +, , O +improves VBZ B-VP +the DT B-NP +appropriateness NN I-NP +of IN B-PP +patient NN B-NP +care NN I-NP +and CC O +imposes VBZ B-VP +only RB B-ADVP +reasonable JJ B-NP +burdens NNS I-NP +on IN B-PP +patients NNS B-NP +and CC I-NP +providers NNS I-NP +, , O +'' '' O +the DT B-NP +panel NN I-NP +concluded VBD B-VP +. . O + +Renault NNP B-NP +and CC O +DAF NNP B-NP +Trucks NNS I-NP +NV NNP I-NP +announced VBD B-VP +a DT B-NP +preliminary JJ I-NP +agreement NN I-NP +to TO B-VP +jointly RB I-VP +manufacture VB I-VP +a DT B-NP +line NN I-NP +of IN B-PP +trucks NNS B-NP +in IN B-PP +Britain NNP B-NP +and CC I-NP +France NNP I-NP +. . O + +Philippe NNP B-NP +Gras NNP I-NP +, , O +a DT B-NP +Renault NNP I-NP +managing VBG I-NP +director NN I-NP +, , O +said VBD B-VP +the DT B-NP +new JJ I-NP +line NN I-NP +will MD B-VP +cover VB I-VP +trucks NNS B-NP +of IN B-PP +between IN B-PP +2.5 CD B-NP +tons NNS I-NP +and CC O +4.2 CD B-NP +tons NNS I-NP +and CC O +will MD B-VP +be VB I-VP +built VBN I-VP +at IN B-PP +Renault NNP B-NP +'s POS B-NP +Bapilly NNP I-NP +plant NN I-NP +in IN B-PP +France NNP B-NP +and CC B-PP +at IN B-PP +DAF NNP B-NP +'s POS B-NP +British JJ I-NP +plant NN I-NP +. . O + +The DT B-NP +French JJ I-NP +state-controlled JJ I-NP +auto NN I-NP +group NN I-NP +and CC O +the DT B-NP +Dutch JJ I-NP +truck NN I-NP +maker NN I-NP +plan NN B-VP +to TO I-VP +incorporate VB I-VP +the DT B-NP +new JJ I-NP +trucks NNS I-NP +into IN B-PP +their PRP$ B-NP +product NN I-NP +lines NNS I-NP +when WRB B-ADVP +they PRP B-NP +begin VBP B-VP +production NN B-NP +toward IN B-PP +the DT B-NP +middle NN I-NP +of IN B-PP +the DT B-NP +1990s CD I-NP +. . O + +Mr. NNP B-NP +Gras NNP I-NP +said VBD B-VP +he PRP B-NP +expects VBZ B-VP +a DT B-NP +definitive JJ I-NP +agreement NN I-NP +between IN B-PP +the DT B-NP +two CD I-NP +companies NNS I-NP +to TO B-VP +be VB I-VP +completed VBN I-VP +in IN B-PP +the DT B-NP +next JJ I-NP +few JJ I-NP +months NNS I-NP +. . O + +The DT B-NP +venture NN I-NP +is VBZ B-VP +the DT B-NP +latest JJS I-NP +example NN I-NP +of IN B-PP +the DT B-NP +trend NN I-NP +toward IN B-PP +cooperative JJ B-NP +projects NNS I-NP +in IN B-PP +Europe NNP B-NP +ahead RB B-ADVP +of IN B-PP +the DT B-NP +1992 CD I-NP +deadline NN I-NP +for IN B-PP +eliminating VBG B-VP +trade NN B-NP +barriers NNS I-NP +within IN B-PP +the DT B-NP +European NNP I-NP +Community NNP I-NP +. . O + +Renault NNP B-NP +and CC I-NP +DAF NNP I-NP +are VBP B-VP +expected VBN I-VP +to TO I-VP +invest VB I-VP +a DT B-NP +total NN I-NP +of IN B-PP +about IN B-NP +three CD I-NP +billion CD I-NP +French JJ I-NP +francs NNS I-NP +-LRB- ( O +$ $ B-NP +157.8 CD I-NP +million CD I-NP +-RRB- ) O +in IN B-PP +the DT B-NP +venture NN I-NP +, , O +including VBG B-PP +FFr NNP B-NP +1 CD I-NP +billion CD I-NP +for IN B-PP +design NN B-NP +and CC I-NP +development NN I-NP +costs NNS I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +the DT B-NP +companies NNS I-NP +will MD B-VP +each DT O +spend VB B-VP +about IN B-NP +FFr NNP I-NP +1 CD I-NP +billion CD I-NP +on IN B-PP +tooling VBG B-VP +up IN B-PRT +their PRP$ B-NP +plants NNS I-NP +. . O + +Mr. NNP B-NP +Gras NNP I-NP +said VBD B-VP +the DT B-NP +joint JJ I-NP +venture NN I-NP +represents VBZ B-VP +considerable JJ B-NP +savings NNS I-NP +for IN B-PP +both DT B-NP +Renault NNP I-NP +and CC I-NP +DAF NNP I-NP +, , O +since IN B-SBAR +both DT B-NP +companies NNS I-NP +would MD B-VP +in IN B-PP +any DT B-NP +case NN I-NP +have VBP B-VP +had VBN I-VP +to TO I-VP +renew VB I-VP +their PRP$ B-NP +existing VBG I-NP +ranges NNS I-NP +of IN B-PP +light NN B-NP +goods NNS I-NP +vehicles NNS I-NP +. . O + +By IN B-PP +pooling VBG B-VP +their PRP$ B-NP +resources NNS I-NP +, , O +the DT B-NP +two CD I-NP +groups NNS I-NP +have VBP B-VP +effectively RB I-VP +halved VBN I-VP +the DT B-NP +design NN I-NP +and CC I-NP +development NN I-NP +costs NNS I-NP +that WDT B-NP +would MD B-VP +otherwise RB I-VP +have VB I-VP +been VBN I-VP +entailed VBN I-VP +, , O +he PRP B-NP +said VBD B-VP +. . O + +Renault NNP B-NP +officials NNS I-NP +said VBD B-VP +the DT B-NP +potential JJ I-NP +European JJ I-NP +market NN I-NP +for IN B-PP +light NN B-NP +trucks NNS I-NP +in IN B-PP +the DT B-NP +2.5-ton JJ I-NP +to TO I-NP +4.2-ton VB I-NP +range NN I-NP +is VBZ B-VP +between IN B-NP +700,000 CD I-NP +and CC I-NP +800,000 CD I-NP +vehicles NNS I-NP +annually RB B-ADVP +, , O +and CC O +Renault NNP B-NP +and CC I-NP +DAF NNP I-NP +are VBP B-VP +aiming VBG I-VP +for IN B-PP +a DT B-NP +combined VBN I-NP +market NN I-NP +share NN I-NP +of IN B-PP +about IN B-NP +11 CD I-NP +% NN I-NP +. . O + +Both DT B-NP +Renault NNP I-NP +and CC I-NP +DAF NNP I-NP +will MD B-VP +have VB I-VP +world-wide JJ B-NP +marketing NN I-NP +rights NNS I-NP +for IN B-PP +the DT B-NP +new JJ I-NP +range NN I-NP +of IN B-PP +vans NNS B-NP +and CC O +light NN B-NP +trucks NNS I-NP +. . O + +Under IN B-PP +a DT B-NP +separate JJ I-NP +arrangement NN I-NP +, , O +British NNP B-NP +Aerospace NNP I-NP +PLC NNP I-NP +'s POS B-NP +Rover NNP I-NP +Group NNP I-NP +PLC NNP I-NP +subsidiary NN I-NP +will MD B-VP +also RB I-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +offer VB I-VP +the DT B-NP +vehicles NNS I-NP +through IN B-PP +its PRP$ B-NP +dealers NNS I-NP +in IN B-PP +the DT B-NP +U.K. NNP I-NP +, , O +and CC O +Renault NNP B-NP +'s POS B-NP +truck-building JJ I-NP +subsidiary NN I-NP +Renault NNP I-NP +Vehicles NNPS I-NP +Industriels NNPS I-NP +will MD B-VP +have VB I-VP +similar JJ B-NP +rights NNS I-NP +in IN B-PP +France NNP B-NP +. . O + +DAF NNP B-NP +is VBZ B-VP +16%-owned JJ B-ADJP +by IN B-PP +British NNP B-NP +Aerospace NNP I-NP +, , O +with IN B-PP +a DT B-NP +further JJ I-NP +6.5 CD I-NP +% NN I-NP +held VBN B-VP +by IN B-PP +the DT B-NP +Dutch JJ I-NP +state-owned JJ I-NP +chemical NN I-NP +group NN I-NP +NV NNP B-NP +DSM NNP I-NP +. . O + +The DT B-NP +van NNP I-NP +Doorne NNP I-NP +family NN I-NP +of IN B-PP +the DT B-NP +Netherlands NNP I-NP +holds VBZ B-VP +an DT B-NP +additional JJ I-NP +11 CD I-NP +% NN I-NP +of IN B-PP +DAF NNP B-NP +'s POS B-NP +capital NN I-NP +. . O + +The DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +System NNP I-NP +is VBZ B-VP +the DT B-NP +standard JJ I-NP +object NN I-NP +of IN B-PP +suggestions NNS B-NP +for IN B-PP +organizational JJ B-NP +and CC I-NP +institutional JJ I-NP +changes NNS I-NP +, , O +for IN B-PP +two CD B-NP +reasons NNS I-NP +. . O + +First RB B-ADVP +, , O +its PRP$ B-NP +position NN I-NP +in IN B-PP +the DT B-NP +government NN I-NP +is VBZ B-VP +anomalous JJ B-ADJP +. . O + +It PRP B-NP +has VBZ B-VP +an DT B-NP +unusual JJ I-NP +kind NN I-NP +of IN B-PP +independence NN B-NP +from IN B-PP +elected VBN B-NP +officials NNS I-NP +and CC O +still RB B-VP +has VBZ I-VP +authority NN B-NP +over IN B-PP +one CD B-NP +of IN B-PP +the DT B-NP +most RBS I-NP +powerful JJ I-NP +of IN B-PP +government NN B-NP +'s POS B-NP +instruments NNS I-NP +-- : O +the DT B-NP +control NN I-NP +of IN B-PP +the DT B-NP +money NN I-NP +supply NN I-NP +. . O + +Thus RB B-ADVP +we PRP B-NP +have VBP B-VP +a DT B-NP +condition NN I-NP +that WDT B-NP +is VBZ B-VP +easily RB I-VP +described VBN I-VP +as IN B-PP +undemocratic JJ B-ADJP +. . O + +Second JJ B-ADVP +, , O +the DT B-NP +responsibilities NNS I-NP +of IN B-PP +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +as IN B-PP +guardian NN B-NP +of IN B-PP +the DT B-NP +currency NN I-NP +, , O +which WDT B-NP +means VBZ B-VP +as IN B-PP +guardian NN B-NP +of IN B-PP +the DT B-NP +stability NN I-NP +of IN B-PP +the DT B-NP +price NN I-NP +level NN I-NP +, , O +sometimes RB B-ADVP +lead VB B-VP +it PRP B-NP +to TO B-VP +take VB I-VP +measures NNS B-NP +that WDT B-NP +are VBP B-VP +unpopular JJ B-ADJP +. . O + +As IN B-SBAR +former JJ B-NP +Fed NNP I-NP +Chairman NNP I-NP +William NNP I-NP +McChesney NNP I-NP +Martin NNP I-NP +used VBD B-VP +to TO I-VP +say VB I-VP +, , O +they PRP B-NP +would MD B-VP +have VB I-VP +to TO I-VP +take VB I-VP +the DT B-NP +punch NN I-NP +bowl NN I-NP +away RB B-ADVP +just RB B-ADVP +as IN B-SBAR +the DT B-NP +party NN I-NP +is VBZ B-VP +getting VBG I-VP +interesting JJ B-ADJP +. . O + +So RB O +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +is VBZ B-VP +an DT B-NP +attractive JJ I-NP +target NN I-NP +for IN B-PP +complaint NN B-NP +by IN B-PP +politicians NNS B-NP +. . O + +The DT B-NP +Fed NNP I-NP +is VBZ B-VP +easily RB I-VP +assigned VBN I-VP +the DT B-NP +blame NN I-NP +for IN B-PP +unpleasantness NN B-NP +, , O +like IN B-PP +high JJ B-NP +interest NN I-NP +rates NNS I-NP +or CC O +slow JJ B-NP +economic JJ I-NP +growth NN I-NP +, , O +while IN B-SBAR +the DT B-NP +politicians NNS I-NP +can MD B-VP +escape VB I-VP +responsibility NN B-NP +by IN B-PP +pointing VBG B-VP +to TO B-PP +the DT B-NP +Fed NNP I-NP +'s POS B-NP +independence NN I-NP +. . O + +This DT B-NP +leads VBZ B-VP +to TO B-PP +proposals NNS B-NP +for IN B-PP +`` `` O +reform NN B-NP +'' '' O +of IN B-PP +the DT B-NP +Fed NNP I-NP +, , O +which WDT B-NP +have VBP B-VP +the DT B-NP +common JJ I-NP +feature NN I-NP +of IN B-PP +making VBG B-VP +the DT B-NP +Fed NNP I-NP +more RBR B-ADJP +responsive JJ I-ADJP +to TO B-PP +the DT B-NP +administration NN I-NP +, , O +to TO B-PP +the DT B-NP +Congress NNP I-NP +and CC B-PP +to TO B-PP +public JJ B-NP +opinion NN I-NP +-- : O +without IN B-PP +, , O +however RB B-ADVP +, , O +any DT B-NP +assumption NN I-NP +of IN B-PP +additional JJ B-NP +responsibility NN I-NP +by IN B-PP +the DT B-NP +politicians NNS I-NP +. . O + +These DT B-NP +proposals NNS I-NP +include VBP B-VP +changing VBG I-VP +the DT B-NP +term NN I-NP +of IN B-PP +the DT B-NP +chairman NN I-NP +, , O +shortening VBG B-VP +the DT B-NP +terms NNS I-NP +of IN B-PP +the DT B-NP +members NNS I-NP +, , O +eliminating VBG B-VP +the DT B-NP +presidents NNS I-NP +of IN B-PP +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +Banks NNP I-NP +from IN B-PP +the DT B-NP +decision-making NN I-NP +process NN I-NP +, , O +putting VBG B-VP +the DT B-NP +Secretary NNP I-NP +of IN B-PP +the DT B-NP +Treasury NNP I-NP +on IN B-PP +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +Board NNP I-NP +, , O +having VBG B-VP +the DT B-NP +Fed NNP I-NP +audited VBN B-VP +by IN B-PP +an DT B-NP +arm NN I-NP +of IN B-PP +Congress NNP B-NP +-LRB- ( O +the DT B-NP +General NNP I-NP +Accounting NNP I-NP +Office NNP I-NP +-RRB- ) O +, , O +putting VBG B-VP +the DT B-NP +Fed NNP I-NP +'s POS B-NP +expenditures NNS I-NP +in IN B-PP +the DT B-NP +budget NN I-NP +, , O +and CC O +requiring VBG B-VP +prompt VB B-NP +publication NN I-NP +of IN B-PP +the DT B-NP +Fed NNP I-NP +'s POS B-NP +minutes NNS I-NP +. . O + +Some DT B-NP +of IN B-PP +these DT B-NP +ideas NNS I-NP +are VBP B-VP +again RB B-ADVP +under IN B-PP +consideration NN B-NP +in IN B-PP +Congress NNP B-NP +. . O + +But CC O +these DT B-NP +proposals NNS I-NP +do VBP B-VP +not RB I-VP +rest VB I-VP +on IN B-PP +a DT B-NP +view NN I-NP +of IN B-PP +what WP B-NP +the DT B-NP +Fed NNP I-NP +'s POS B-NP +problem NN I-NP +is VBZ B-VP +or CC O +, , O +if IN B-SBAR +they PRP B-NP +do VBP B-VP +, , O +they PRP B-NP +rest VBP B-VP +on IN B-PP +an DT B-NP +incorrect JJ I-NP +view NN I-NP +. . O + +They PRP B-NP +would MD B-VP +not RB I-VP +solve VB I-VP +the DT B-NP +problem NN I-NP +; : O +they PRP B-NP +would MD B-VP +make VB I-VP +it PRP B-NP +worse JJR B-ADJP +. . O + +The DT B-NP +problem NN I-NP +is VBZ B-VP +not RB O +that IN B-SBAR +the DT B-NP +Fed NNP I-NP +is VBZ B-VP +too RB B-ADJP +unresponsive JJ I-ADJP +to TO B-PP +the DT B-NP +public JJ I-NP +interest NN I-NP +. . O + +On IN B-PP +the DT B-NP +contrary NN I-NP +, , O +it PRP B-NP +is VBZ B-VP +too RB B-ADJP +responsive JJ I-ADJP +to TO B-PP +an DT B-NP +incorrect JJ I-NP +view NN I-NP +of IN B-PP +the DT B-NP +public JJ I-NP +interest NN I-NP +. . O + +The DT B-NP +price NN I-NP +level NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +is VBZ B-VP +now RB B-ADVP +about IN B-ADJP +4 CD I-ADJP +1\/4 CD I-ADJP +times NNS I-ADJP +as RB I-ADJP +high JJ I-ADJP +as IN B-SBAR +it PRP B-NP +was VBD B-VP +30 CD B-NP +years NNS I-NP +ago RB B-ADVP +. . O + +On IN B-PP +average JJ B-NP +, , O +something NN B-NP +that DT B-NP +cost NN B-VP +$ $ B-NP +100 CD I-NP +30 CD B-NP +years NNS I-NP +ago RB B-ADVP +now RB B-ADVP +costs VBZ B-VP +$ $ B-NP +425 CD I-NP +. . O + +Or CC O +, , O +a DT B-NP +wage NN I-NP +that WDT B-NP +was VBD B-VP +$ $ B-NP +100 CD I-NP +30 CD B-NP +years NNS I-NP +ago RB B-ADVP +would MD B-VP +buy VB I-VP +only RB B-NP +$ $ I-NP +23.53 CD I-NP +worth NN I-NP +of IN B-PP +stuff NN B-NP +today NN B-NP +. . O + +On IN B-PP +two CD B-NP +occasions VBZ I-NP +the DT B-NP +inflation NN I-NP +rate NN I-NP +rose VBD B-VP +to TO B-PP +more JJR B-NP +than IN I-NP +10 CD I-NP +% NN I-NP +a DT B-NP +year NN I-NP +. . O + +In IN B-PP +each DT B-NP +case NN I-NP +the DT B-NP +ending NN I-NP +of IN B-PP +this DT B-NP +unsustainable JJ I-NP +inflation NN I-NP +caused VBD B-VP +a DT B-NP +severe JJ I-NP +recession NN I-NP +-- : O +the DT B-NP +two CD I-NP +worst JJS I-NP +of IN B-PP +the DT B-NP +postwar JJ I-NP +period NN I-NP +. . O + +The DT B-NP +enormous JJ I-NP +inflation NN I-NP +over IN B-PP +the DT B-NP +past JJ I-NP +30 CD I-NP +years NNS I-NP +was VBD B-VP +largely RB B-ADJP +due JJ I-ADJP +to TO B-PP +monetary JJ B-NP +policy NN I-NP +. . O + +At IN B-ADVP +least JJS I-ADVP +, , O +it PRP B-NP +would MD B-VP +not RB I-VP +have VB I-VP +happened VBN I-VP +without IN B-PP +the DT B-NP +support NN I-NP +of IN B-PP +monetary JJ B-NP +policy NN I-NP +that WDT B-NP +provided VBD B-VP +for IN B-PP +a DT B-NP +10-fold JJ I-NP +increase NN I-NP +in IN B-PP +the DT B-NP +money NN I-NP +supply NN I-NP +during IN B-PP +the DT B-NP +same JJ I-NP +period NN I-NP +. . O + +And CC O +that DT B-NP +increase NN I-NP +in IN B-PP +the DT B-NP +money NN I-NP +supply NN I-NP +would MD B-VP +not RB I-VP +have VB I-VP +happened VBN I-VP +without IN B-PP +the DT B-NP +consent NN I-NP +of IN B-PP +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +. . O + +The DT B-NP +basic JJ I-NP +problem NN I-NP +of IN B-PP +monetary JJ B-NP +policy NN I-NP +, , O +to TO B-PP +which WDT B-NP +reform NN B-NP +of IN B-PP +the DT B-NP +Fed NNP I-NP +should MD B-VP +be VB I-VP +addressed VBN I-VP +, , O +is VBZ B-VP +to TO B-VP +prevent VB I-VP +a DT B-NP +recurrence NN I-NP +of IN B-PP +this DT B-NP +experience NN I-NP +. . O + +There EX B-NP +were VBD B-VP +two CD B-NP +general JJ I-NP +reasons NNS I-NP +for IN B-PP +the DT B-NP +mistaken VBN I-NP +monetary JJ I-NP +policy NN I-NP +of IN B-PP +the DT B-NP +past JJ I-NP +30 CD I-NP +years NNS I-NP +: : O + +1 CD B-NP +. . O +To TO B-PP +some DT B-NP +extent NN I-NP +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +shared VBD B-VP +the DT B-NP +popular JJ I-NP +but CC I-NP +incorrect JJ I-NP +view NN I-NP +that IN B-SBAR +expansionary JJ B-NP +monetary JJ I-NP +policy NN I-NP +could MD B-VP +yield VB I-VP +a DT B-NP +net JJ I-NP +improvement NN I-NP +in IN B-PP +employment NN B-NP +and CC I-NP +output NN I-NP +. . O + +2 CD B-NP +. . O +Even RB B-ADVP +where WRB I-ADVP +the DT B-NP +Fed NNP I-NP +did VBD B-VP +not RB I-VP +share VB I-VP +this DT B-NP +view NN I-NP +it PRP B-NP +felt VBD B-VP +the DT B-NP +need NN I-NP +to TO B-VP +accommodate VB I-VP +to TO B-PP +it PRP B-NP +. . O + +Despite IN B-PP +all PDT B-NP +the DT I-NP +formal JJ I-NP +provisions NNS I-NP +for IN B-PP +its PRP$ B-NP +independence NN I-NP +, , O +the DT B-NP +Fed NNP I-NP +seems VBZ B-VP +constantly RB I-VP +to TO I-VP +feel VB I-VP +that IN B-SBAR +if IN B-SBAR +it PRP B-NP +uses VBZ B-VP +its PRP$ B-NP +independence NN I-NP +too RB B-ADVP +freely RB I-ADVP +it PRP B-NP +will MD B-VP +lose VB I-VP +it PRP B-NP +. . O + +The DT B-NP +common JJ I-NP +proposals NNS I-NP +for IN B-PP +reforming VBG B-VP +the DT B-NP +Fed NNP I-NP +would MD B-VP +only RB I-VP +make VB I-VP +the DT B-NP +situation NN I-NP +worse JJR B-ADJP +, , O +if IN B-SBAR +they PRP B-NP +had VBD B-VP +any DT B-NP +effect NN I-NP +at IN B-ADVP +all DT I-ADVP +. . O + +Putting VBG B-VP +the DT B-NP +Secretary NNP I-NP +of IN B-PP +the DT B-NP +Treasury NNP I-NP +on IN B-PP +the DT B-NP +Board NNP I-NP +of IN B-PP +Governors NNP B-NP +, , O +one CD B-NP +of IN B-PP +the DT B-NP +leading VBG I-NP +proposals NNS I-NP +today NN B-NP +, , O +is VBZ B-VP +an DT B-NP +example NN I-NP +. . O + +The DT B-NP +secretary NN I-NP +is VBZ B-VP +the DT B-NP +world NN I-NP +'s POS B-NP +biggest JJS I-NP +borrower NN I-NP +of IN B-PP +money NN B-NP +. . O + +He PRP B-NP +has VBZ B-VP +a DT B-NP +built-in NN I-NP +, , I-NP +constant JJ I-NP +longing NN I-NP +for IN B-PP +lower JJR B-NP +interest NN I-NP +rates NNS I-NP +. . O + +Moreover RB B-ADVP +, , O +he PRP B-NP +is VBZ B-VP +a DT B-NP +political JJ I-NP +agent NN I-NP +of IN B-PP +a DT B-NP +political JJ I-NP +president NN I-NP +, , O +who WP B-NP +naturally RB B-VP +gives VBZ I-VP +extraordinary JJ B-NP +weight NN I-NP +to TO B-PP +the DT B-NP +way NN I-NP +the DT B-NP +economy NN I-NP +will MD B-VP +perform VB I-VP +before IN B-PP +the DT B-NP +next JJ I-NP +election NN I-NP +, , O +and CC O +less JJR B-NP +to TO B-PP +its PRP$ B-NP +longer-run JJ I-NP +health NN I-NP +. . O + +These DT B-NP +days NNS I-NP +, , O +the DT B-NP +secretary NN I-NP +suffers VBZ B-VP +the DT B-NP +further JJ I-NP +disqualification NN I-NP +that IN B-SBAR +he PRP B-NP +is VBZ B-VP +a DT B-NP +member NN I-NP +of IN B-PP +a DT B-NP +club NN I-NP +of IN B-PP +seven CD B-NP +finance NN I-NP +ministers NNS I-NP +who WP B-NP +meet VBP B-VP +occasionally RB B-ADVP +to TO B-VP +decide VB I-VP +what WP B-NP +exchange NN B-NP +rates NNS I-NP +should MD B-VP +be VB I-VP +, , O +which WDT B-NP +is VBZ B-VP +a DT B-NP +diversion NN I-NP +from IN B-PP +the DT B-NP +real JJ I-NP +business NN I-NP +of IN B-PP +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +to TO B-VP +stabilize VB I-VP +the DT B-NP +price NN I-NP +level NN I-NP +. . O + +How WRB B-ADVP +should MD O +a DT B-NP +reasonable JJ I-NP +member NN I-NP +of IN B-PP +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +Board NNP I-NP +interpret VB B-VP +a DT B-NP +congressional JJ I-NP +decision NN I-NP +to TO B-VP +put VB I-VP +the DT B-NP +secretary NN I-NP +on IN B-PP +the DT B-NP +board NN I-NP +? . O + +Could MD O +he PRP B-NP +plausibly RB B-ADVP +interpret VB B-VP +it PRP B-NP +as IN B-PP +encouragement NN B-NP +for IN B-SBAR +the DT B-NP +Fed NNP I-NP +to TO B-VP +give VB I-VP +primary JJ B-NP +emphasis NN I-NP +to TO B-PP +stabilizing VBG B-VP +the DT B-NP +price NN I-NP +level NN I-NP +? . O + +Or CC O +would MD O +he PRP B-NP +interpret VB B-VP +it PRP B-NP +as IN B-PP +instruction NN B-NP +to TO B-VP +give VB I-VP +more JJR B-NP +weight NN I-NP +to TO B-PP +these DT B-NP +other JJ I-NP +objectives NNS I-NP +that IN B-NP +the DT B-NP +secretary NN I-NP +represents VBZ B-VP +-- : O +low JJ B-NP +interest NN I-NP +rates NNS I-NP +, , O +short-run JJ B-NP +economic JJ I-NP +expansion NN I-NP +, , O +and CC O +stabilization NN B-NP +of IN B-PP +exchange NN B-NP +rates NNS I-NP +at IN B-PP +internationally RB B-NP +managed VBD I-NP +levels NNS I-NP +? . O + +The DT B-NP +answer NN I-NP +seems VBZ B-VP +perfectly RB B-ADJP +clear JJ I-ADJP +. . O + +-LRB- ( O +True JJ B-ADVP +, , O +a DT B-NP +succession NN I-NP +of IN B-PP +Fed NNP B-NP +chairmen NNS I-NP +has VBZ B-VP +given VBN I-VP +color NN B-NP +to TO B-PP +the DT B-NP +notion NN I-NP +that IN B-SBAR +the DT B-NP +Secretary NNP I-NP +of IN B-PP +the DT B-NP +Treasury NNP I-NP +belongs VBZ B-VP +on IN B-PP +the DT B-NP +Fed NNP I-NP +. . O + +By IN B-PP +their PRP$ B-NP +constant JJ I-NP +readiness NN I-NP +to TO B-VP +advise VB I-VP +all DT B-NP +and CC I-NP +sundry JJ I-NP +about IN B-PP +federal JJ B-NP +budgetary JJ I-NP +matters NNS I-NP +the DT B-NP +chairmen NNS I-NP +have VBP B-VP +encouraged VBN I-VP +the DT B-NP +belief NN I-NP +that IN O +fiscal JJ B-NP +policy NN I-NP +and CC O +monetary JJ B-NP +policy NN I-NP +are VBP B-VP +ingredients NNS B-NP +of IN B-PP +a DT B-NP +common JJ I-NP +stew NN I-NP +, , O +in IN B-PP +which WDT B-NP +case NN I-NP +it PRP B-NP +is VBZ B-VP +natural JJ B-ADJP +that IN B-SBAR +the DT B-NP +Fed NNP I-NP +and CC O +the DT B-NP +Treasury NNP I-NP +, , B-NP +and CC I-NP +probably RB I-NP +also RB I-NP +the DT B-NP +Congress NNP I-NP +, , O +should MD B-VP +be VB I-VP +jointly RB I-VP +engaged VBN I-VP +in IN B-PP +stirring VBG B-VP +the DT B-NP +pot NN I-NP +. . O + +The DT B-NP +Fed NNP I-NP +'s POS B-NP +case NN I-NP +for IN B-PP +its PRP$ B-NP +own JJ I-NP +independence NN I-NP +would MD B-VP +be VB I-VP +a DT B-NP +little RB I-NP +stronger JJR B-ADJP +if IN B-SBAR +it PRP B-NP +were VBD B-VP +more RBR B-ADJP +solicitous JJ I-ADJP +of IN B-PP +the DT B-NP +independence NN I-NP +of IN B-PP +the DT B-NP +rest NN I-NP +of IN B-PP +the DT B-NP +government NN I-NP +. . O +-RRB- ) O + +The DT B-NP +Fed NNP I-NP +'s POS B-NP +problem NN I-NP +is VBZ B-VP +not RB O +that IN B-SBAR +it PRP B-NP +is VBZ B-VP +too RB B-ADJP +independent JJ I-ADJP +, , O +or CC O +too RB B-ADJP +unpolitical JJ I-ADJP +. . O + +The DT B-NP +Fed NNP I-NP +is VBZ B-VP +responsive JJ B-ADJP +to TO B-PP +, , O +and CC O +can MD B-VP +not RB I-VP +help VB I-VP +being VBG I-VP +responsive JJ B-ADJP +to TO B-PP +, , O +the DT B-NP +more RBR I-NP +overtly RB I-NP +political JJ I-NP +part NN I-NP +of IN B-PP +the DT B-NP +government NN I-NP +. . O + +The DT B-NP +Fed NNP I-NP +exercises VBZ B-VP +a DT B-NP +power NN I-NP +given VBN B-VP +to TO B-PP +it PRP B-NP +by IN B-PP +Congress NNP B-NP +and CC O +the DT B-NP +president NN I-NP +. . O + +But CC O +Congress NNP B-NP +and CC O +the DT B-NP +president NN I-NP +accept VB B-VP +no DT B-NP +responsibility NN I-NP +for IN B-PP +the DT B-NP +exercise NN I-NP +of IN B-PP +the DT B-NP +power NN I-NP +they PRP B-NP +have VBP B-VP +given VBN I-VP +the DT B-NP +Fed NNP I-NP +. . O + +Critics NNS B-NP +of IN B-PP +the DT B-NP +present JJ I-NP +arrangement NN I-NP +are VBP B-VP +correct JJ B-ADJP +to TO B-VP +say VB I-VP +that IN B-SBAR +it PRP B-NP +is VBZ B-VP +undemocratic JJ B-ADJP +. . O + +What WP B-NP +is VBZ B-VP +undemocratic JJ B-ADJP +is VBZ B-VP +the DT B-NP +unwillingness NN I-NP +of IN B-PP +the DT B-NP +more RBR I-NP +political JJ I-NP +parts NNS I-NP +of IN B-PP +the DT B-NP +government NN I-NP +to TO B-VP +take VB I-VP +the DT B-NP +responsibility NN I-NP +for IN B-PP +deciding VBG B-VP +the DT B-NP +basic JJ I-NP +question NN I-NP +of IN B-PP +monetary JJ B-NP +policy NN I-NP +, , O +which WDT B-NP +is VBZ B-VP +what WP B-NP +priority NN I-NP +should MD B-VP +be VB I-VP +given VBN I-VP +to TO B-PP +stabilizing VBG B-VP +the DT B-NP +price NN I-NP +level NN I-NP +. . O + +To TO B-VP +leave VB I-VP +this DT B-NP +decision NN I-NP +to TO B-PP +an DT B-NP +`` `` I-NP +independent JJ I-NP +'' '' I-NP +agency NN I-NP +is VBZ B-VP +not RB O +only RB O +undemocratic JJ B-ADJP +. . O + +It PRP B-NP +also RB B-ADVP +prevents VBZ B-VP +the DT B-NP +conduct NN I-NP +of IN B-PP +a DT B-NP +policy NN I-NP +that WDT B-NP +has VBZ B-VP +a DT B-NP +long-term JJ I-NP +rationale NN I-NP +, , O +because IN B-SBAR +it PRP B-NP +leaves VBZ B-VP +the DT B-NP +Fed NNP I-NP +guessing VBG B-VP +about IN B-PP +what WP B-NP +are VBP B-VP +the DT B-NP +expectations NNS I-NP +of IN B-PP +its PRP$ B-NP +masters NNS I-NP +, , O +the DT B-NP +politicians NNS I-NP +, , O +who WP B-NP +have VBP B-VP +never RB I-VP +had VBN I-VP +to TO I-VP +consider VB I-VP +the DT B-NP +long-term JJ I-NP +consequences NNS I-NP +of IN B-PP +monetary JJ B-NP +policy NN I-NP +. . O + +The DT B-NP +greatest JJS I-NP +contribution NN I-NP +Congress NNP B-NP +could MD B-VP +make VB I-VP +at IN B-PP +this DT B-NP +time NN I-NP +would MD B-VP +be VB I-VP +to TO B-VP +declare VB I-VP +that IN B-SBAR +stabilizing VBG B-VP +the DT B-NP +price NN I-NP +level NN I-NP +is VBZ B-VP +the DT B-NP +primary JJ I-NP +responsibility NN I-NP +of IN B-PP +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +System NNP I-NP +. . O + +Legislation NN B-NP +to TO B-PP +this DT B-NP +effect NN I-NP +has VBZ B-VP +been VBN I-VP +introduced VBN I-VP +in IN B-PP +Congress NNP B-NP +in IN B-PP +this DT B-NP +session NN I-NP +by IN B-PP +Rep. NNP B-NP +Stephen NNP I-NP +Neal NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +N.C NNP B-NP +. . O +-RRB- ) O +. . O + +It PRP B-NP +is VBZ B-VP +not RB O +the DT B-NP +kind NN I-NP +of IN B-PP +thing NN B-NP +that WDT B-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +enacted VBN I-VP +, , O +however RB B-ADVP +. . O + +Congress NNP B-NP +would MD B-VP +be VB I-VP +required VBN I-VP +to TO I-VP +make VB I-VP +a DT B-NP +hard JJ I-NP +decision NN I-NP +, , O +and CC O +Congress NNP B-NP +would MD B-VP +much RB I-VP +prefer VB I-VP +to TO I-VP +leave VB I-VP +the DT B-NP +hard JJ I-NP +decision NN I-NP +to TO B-PP +the DT B-NP +Fed NNP I-NP +and CC O +retain VB B-VP +its PRP$ B-NP +rights NNS I-NP +of IN B-PP +complaint NN B-NP +after IN B-PP +the DT B-NP +fact NN I-NP +. . O + +People NNS B-NP +will MD B-VP +say VB I-VP +that IN B-SBAR +the DT B-NP +nation NN I-NP +and CC O +the DT B-NP +government NN I-NP +have VBP B-VP +other JJ B-NP +objectives NNS I-NP +, , O +in IN B-PP +addition NN B-NP +to TO B-PP +stabilizing VBG B-VP +the DT B-NP +price NN I-NP +level NN I-NP +, , O +which WDT B-NP +is VBZ B-VP +true JJ B-ADJP +. . O + +But CC O +that DT B-NP +is VBZ B-VP +not RB O +the DT B-NP +same JJ I-NP +as IN B-PP +saying VBG B-VP +that IN B-SBAR +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +has VBZ B-VP +other JJ B-NP +objectives NNS I-NP +. . O + +The DT B-NP +government NN I-NP +has VBZ B-VP +other JJ B-NP +agencies NNS I-NP +and CC I-NP +instruments NNS I-NP +for IN B-PP +pursuing VBG B-VP +these DT B-NP +other JJ I-NP +objectives NNS I-NP +. . O + +But CC O +it PRP B-NP +has VBZ B-VP +only RB B-ADVP +the DT B-NP +Fed NNP I-NP +to TO B-VP +pursue VB I-VP +price-level JJ B-NP +stability NN I-NP +. . O + +And CC O +the DT B-NP +Fed NNP I-NP +has VBZ B-VP +at IN B-PP +most RBS B-NP +very RB B-NP +limited JJ I-NP +ability NN I-NP +to TO B-VP +contribute VB I-VP +to TO B-PP +the DT B-NP +achievement NN I-NP +of IN B-PP +other JJ B-NP +objectives NNS I-NP +by IN B-PP +means VBZ B-NP +other JJ B-ADVP +than IN B-PP +by IN B-PP +stabilizing VBG B-VP +the DT B-NP +price NN I-NP +level NN I-NP +. . O + +The DT B-NP +two CD I-NP +objectives NNS I-NP +most RBS B-VP +commonly RB I-VP +thought VBD I-VP +to TO I-VP +be VB I-VP +legitimate JJ B-NP +competitors NNS I-NP +for IN B-PP +the DT B-NP +attention NN I-NP +of IN B-PP +the DT B-NP +Fed NNP I-NP +are VBP B-VP +high JJ B-NP +employment NN I-NP +and CC O +rapid JJ B-NP +real JJ I-NP +growth NN I-NP +. . O + +But CC O +the DT B-NP +main JJ I-NP +lesson NN I-NP +of IN B-PP +economic JJ B-NP +policy NN I-NP +in IN B-PP +the DT B-NP +past JJ I-NP +30 CD I-NP +years NNS I-NP +is VBZ B-VP +that IN B-SBAR +if IN B-SBAR +the DT B-NP +Fed NNP I-NP +compromises NNS B-VP +with IN B-PP +the DT B-NP +price-stability NN I-NP +objective NN I-NP +in IN B-PP +the DT B-NP +pursuit NN I-NP +of IN B-PP +these DT B-NP +other JJ I-NP +goals NNS I-NP +, , O +the DT B-NP +result NN I-NP +is VBZ B-VP +not RB O +high JJ B-NP +employment NN I-NP +and CC O +rapid JJ B-NP +growth NN I-NP +but CC O +is VBZ B-VP +inflation NN B-NP +. . O + +A DT B-NP +former JJ I-NP +chairman NN I-NP +of IN B-PP +the DT B-NP +president NN I-NP +'s POS B-NP +Council NNP I-NP +of IN B-PP +Economic NNP B-NP +Advisers NNPS I-NP +, , O +Mr. NNP B-NP +Stein NNP I-NP +is VBZ B-VP +an DT B-NP +American NNP I-NP +Enterprise NNP I-NP +Institute NNP I-NP +fellow NN I-NP +. . O + +Republic NNP B-NP +New NNP I-NP +York NNP I-NP +Corp. NNP I-NP +joined VBD B-VP +the DT B-NP +list NN I-NP +of IN B-PP +banks NNS B-NP +boosting VBG B-VP +reserves NNS B-NP +for IN B-PP +losses NNS B-NP +on IN B-PP +loans NNS B-NP +to TO B-PP +less-developed JJ B-NP +countries NNS I-NP +, , O +setting VBG B-VP +out IN B-PRT +a DT B-NP +$ $ I-NP +200 CD I-NP +million CD I-NP +provision NN I-NP +and CC O +posting VBG B-VP +a DT B-NP +$ $ I-NP +155.4 CD I-NP +million CD I-NP +third-quarter JJ I-NP +net JJ I-NP +loss NN I-NP +as IN B-PP +a DT B-NP +result NN I-NP +. . O + +The DT B-NP +per-share JJ I-NP +loss NN I-NP +was VBD B-VP +$ $ B-NP +5.32 CD I-NP +. . O + +In IN B-PP +the DT B-NP +year NN I-NP +earlier JJR I-NP +period NN I-NP +, , O +the DT B-NP +New NNP I-NP +York NNP I-NP +parent NN I-NP +of IN B-PP +Republic NNP B-NP +National NNP I-NP +Bank NNP I-NP +had VBD B-VP +net JJ B-NP +income NN I-NP +of IN B-PP +$ $ B-NP +38.7 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.12 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Excluding VBG B-PP +the DT B-NP +provision NN I-NP +, , O +Republic NNP B-NP +earned VBD B-VP +$ $ B-NP +44.6 CD I-NP +million CD I-NP +, , O +up IN B-ADVP +15 CD B-NP +% NN I-NP +from IN B-PP +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +The DT B-NP +bank NN I-NP +'s POS B-NP +medium-term JJ B-ADJP +and CC I-ADJP +long-term JJ I-ADJP +loans NNS B-NP +to TO B-PP +less-developed JJ B-NP +countries NNS I-NP +total JJ B-VP +$ $ B-NP +293 CD I-NP +million CD I-NP +, , O +of IN B-PP +which WDT B-NP +$ $ B-NP +146 CD I-NP +million CD I-NP +are VBP B-VP +n't RB I-VP +accruing VBG I-VP +interest NN B-NP +, , O +the DT B-NP +bank NN I-NP +said VBD B-VP +. . O + +Republic NNP B-NP +'s POS B-NP +total NN I-NP +of IN B-PP +nonperforming JJ B-NP +assets NNS I-NP +was VBD B-VP +$ $ B-NP +167 CD I-NP +million CD I-NP +at IN B-PP +Sept. NNP B-NP +30 CD I-NP +, , O +with IN B-PP +its PRP$ B-NP +reserve NN I-NP +for IN B-PP +loan NN B-NP +losses NNS I-NP +now RB B-ADVP +standing VBG B-VP +at IN B-PP +$ $ B-NP +357 CD I-NP +million CD I-NP +. . O + +Abortion-rights NNS B-NP +advocates NNS I-NP +won VBD B-VP +last JJ B-NP +week NN I-NP +'s POS B-NP +battles NNS I-NP +, , O +but CC O +the DT B-NP +war NN I-NP +over IN B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +most-contentious RBS I-NP +social JJ I-NP +question NN I-NP +is VBZ B-VP +about IN O +to TO B-VP +pick VB I-VP +up IN B-PRT +again RB B-ADVP +on IN B-PP +turf NN B-NP +that WDT B-NP +favors VBZ B-VP +those DT B-NP +seeking VBG B-VP +to TO I-VP +restrict VB I-VP +abortions NNS B-NP +. . O + +Strict JJ B-NP +new JJ I-NP +regulations NNS I-NP +seem VBP B-VP +certain JJ B-ADJP +to TO B-VP +pass VB I-VP +the DT B-NP +state NN I-NP +House NNP I-NP +in IN B-PP +Pennsylvania NNP B-NP +next JJ B-NP +week NN I-NP +, , O +with IN B-PP +easy JJ B-NP +approval NN I-NP +by IN B-PP +the DT B-NP +Senate NNP I-NP +and CC B-PP +by IN B-PP +Democratic NNP B-NP +Gov. NNP I-NP +Bob NNP I-NP +Casey NNP I-NP +expected VBD B-VP +shortly RB B-ADVP +thereafter RB I-ADVP +. . O + +Legislation NN B-NP +to TO B-VP +require VB I-VP +the DT B-NP +consent NN I-NP +of IN B-PP +parents NNS B-NP +before IN B-SBAR +their PRP$ B-NP +daughters NNS I-NP +under IN B-PP +the DT B-NP +age NN I-NP +of IN B-PP +18 CD B-NP +can MD B-VP +have VB I-VP +abortions NNS B-NP +will MD B-VP +probably RB I-VP +pass VB I-VP +both DT B-NP +houses NNS I-NP +of IN B-PP +the DT B-NP +Michigan NNP I-NP +legislature NN I-NP +and CC O +set VBN B-VP +up IN B-PRT +a DT B-NP +grinding VBG I-NP +battle NN I-NP +to TO B-VP +override VB I-VP +the DT B-NP +expected VBN I-NP +veto NN I-NP +of IN B-PP +Democratic NNP B-NP +Gov. NNP I-NP +James NNP I-NP +Blanchard NNP I-NP +. . O + +The DT B-NP +short-term JJ I-NP +shift NN I-NP +in IN B-PP +the DT B-NP +political JJ I-NP +climate NN I-NP +surrounding VBG B-VP +abortion NN B-NP +reflects VBZ B-VP +two CD B-NP +factors NNS I-NP +that WDT B-NP +are VBP B-VP +likely JJ B-ADJP +to TO B-VP +govern VB I-VP +the DT B-NP +debate NN I-NP +in IN B-PP +the DT B-NP +next JJ I-NP +several JJ I-NP +months NNS I-NP +: : O +the DT B-NP +reawakening VBG I-NP +of IN B-PP +the DT B-NP +abortion-rights NNS I-NP +movement NN I-NP +as IN B-PP +a DT B-NP +potent JJ I-NP +force NN I-NP +after IN B-PP +years NNS B-NP +of IN B-PP +lassitude NN B-NP +, , O +and CC O +the DT B-NP +ability NN I-NP +of IN B-PP +each DT B-NP +side NN I-NP +to TO B-VP +counter VB I-VP +the DT B-NP +other NN I-NP +'s POS B-NP +advance NN I-NP +in IN B-PP +one CD B-NP +arena NN I-NP +with IN B-PP +a DT B-NP +victory NN I-NP +of IN B-PP +its PRP$ B-NP +own JJ I-NP +elsewhere RB B-ADVP +. . O + +The DT B-NP +action NN I-NP +in IN B-PP +Pennsylvania NNP B-NP +, , O +for IN B-PP +example NN B-NP +, , O +will MD B-VP +follow VB I-VP +last JJ B-NP +week NN I-NP +'s POS B-NP +collapse NN I-NP +of IN B-PP +a DT B-NP +special JJ I-NP +session NN I-NP +of IN B-PP +the DT B-NP +Florida NNP I-NP +legislature NN I-NP +to TO B-VP +enact VB I-VP +restrictions NNS B-NP +on IN B-PP +abortions NNS B-NP +in IN B-PP +that DT B-NP +state NN I-NP +, , O +and CC O +the DT B-NP +vote NN I-NP +here RB B-ADVP +in IN B-PP +Washington NNP B-NP +by IN B-PP +the DT B-NP +House NNP I-NP +to TO B-VP +permit VB I-VP +federally RB B-NP +paid VBN I-NP +abortions NNS I-NP +for IN B-PP +poor JJ B-NP +women NNS I-NP +who WP B-NP +are VBP B-VP +victims NNS B-NP +of IN B-PP +rape NN B-NP +or CC I-NP +incest NN I-NP +. . O + +But CC O +President NNP B-NP +Bush NNP I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +veto VB I-VP +the DT B-NP +congressional JJ I-NP +legislation NN I-NP +and CC O +that IN B-NP +, , O +along IN B-PP +with IN B-PP +the DT B-NP +easy JJ I-NP +approval NN I-NP +of IN B-PP +the DT B-NP +Pennsylvania NNP I-NP +measure NN I-NP +, , O +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +mute VB I-VP +the DT B-NP +abortion-rights NNS I-NP +activists NNS I-NP +' POS B-NP +claims NNS I-NP +of IN B-PP +momentum NN B-NP +and CC O +underline VB B-VP +the DT B-NP +challenges NNS I-NP +faced VBN B-VP +by IN B-PP +this DT B-NP +resurgent JJ I-NP +movement NN I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +great JJ B-ADJP +to TO B-VP +feel VB I-VP +good JJ B-ADJP +for IN B-PP +once RB B-NP +in IN B-PP +15 CD B-NP +years NNS I-NP +, , O +'' '' O +says VBZ B-VP +Harrison NNP B-NP +Hickman NNP I-NP +, , O +a DT B-NP +consultant NN I-NP +to TO B-PP +abortion-rights NNS B-NP +advocates NNS I-NP +, , O +reflecting VBG B-VP +the DT B-NP +relief NN I-NP +of IN B-PP +his PRP$ B-NP +compatriots NNS I-NP +after IN B-PP +last JJ B-NP +week NN I-NP +'s POS B-NP +victories NNS I-NP +, , O +the DT B-NP +first JJ I-NP +major JJ I-NP +events NNS I-NP +since IN B-SBAR +the DT B-NP +Supreme NNP I-NP +Court NNP I-NP +, , O +in IN B-PP +its PRP$ B-NP +July NNP I-NP +3 CD I-NP +Webster NNP I-NP +decision NN I-NP +, , O +permitted VBD B-VP +the DT B-NP +states NNS I-NP +to TO B-VP +enact VB I-VP +restrictions NNS B-NP +on IN B-PP +abortions NNS B-NP +. . O + +`` `` O +But CC O +how WRB B-NP +many RB I-NP +more JJR I-NP +times NNS I-NP +we PRP B-NP +'re VBP B-VP +going VBG I-VP +to TO I-VP +feel VB I-VP +good JJ B-ADJP +in IN B-PP +the DT B-NP +next JJ I-NP +15 CD I-NP +is VBZ B-VP +another DT B-NP +question NN I-NP +. . O +'' '' O + +Indeed RB B-ADVP +, , O +abortion-rights NNS B-NP +activists NNS I-NP +still JJ B-ADVP +face VB B-VP +their PRP$ B-NP +greatest JJS I-NP +tests NNS I-NP +. . O + +`` `` O +The DT B-NP +pro-choice JJ I-NP +movement NN I-NP +has VBZ B-VP +shown VBN I-VP +-- : O +finally RB B-ADVP +-- : O +that IN B-SBAR +it PRP B-NP +can MD B-VP +mobilize VB I-VP +, , O +'' '' O +says VBZ B-VP +Glen NNP B-NP +Halva-Neubauer NNP I-NP +, , O +a DT B-NP +Furman NNP I-NP +University NNP I-NP +political JJ I-NP +scientist NN I-NP +who WP B-NP +specializes VBZ B-VP +in IN B-PP +how WRB B-ADVP +state NN B-NP +legislators NNS I-NP +handle VBP B-VP +the DT B-NP +abortion NN I-NP +question NN I-NP +. . O + +`` `` O +But CC O +it PRP B-NP +still RB B-ADVP +has VBZ B-VP +n't RB I-VP +shown VBN I-VP +that IN B-SBAR +it PRP B-NP +can MD B-VP +win VB I-VP +in IN B-PP +a DT B-NP +state NN I-NP +like IN B-PP +Pennsylvania NNP B-NP +or CC I-NP +Missouri NNP I-NP +, , O +where WRB B-ADVP +abortion NN B-NP +has VBZ B-VP +been VBN I-VP +clearly RB B-ADVP +an DT B-NP +electoral JJ I-NP +issue NN I-NP +and CC O +where WRB B-ADVP +it PRP B-NP +'s VBZ B-VP +been VBN I-VP +an DT B-NP +emotional JJ I-NP +issue NN I-NP +for IN B-PP +a DT B-NP +long JJ I-NP +time NN I-NP +. . O +'' '' O + +The DT B-NP +foes NNS I-NP +of IN B-PP +abortion NN B-NP +hold NN B-VP +the DT B-NP +strong JJ I-NP +whip NN I-NP +hand NN I-NP +in IN B-PP +Pennsylvania NNP B-NP +, , O +where WRB B-ADVP +abortion-rights NNS B-NP +activists NNS I-NP +are VBP B-VP +so RB B-ADVP +much JJ I-ADVP +on IN B-PP +the DT B-NP +defensive NN I-NP +that IN B-SBAR +their PRP$ B-NP +strategy NN I-NP +is VBZ B-VP +less JJR B-ADVP +to TO B-VP +fight VB I-VP +the DT B-NP +proposed VBN I-NP +legislation NN I-NP +than IN B-SBAR +it PRP B-NP +is VBZ B-VP +to TO B-VP +stress VB I-VP +how WRB B-ADVP +the DT B-NP +state NN I-NP +legislature NN I-NP +does VBZ B-VP +n't RB I-VP +reflect VB I-VP +the DT B-NP +viewpoints NNS I-NP +of IN B-PP +the DT B-NP +state NN I-NP +'s POS B-NP +citizens NNS I-NP +. . O + +As IN B-PP +a DT B-NP +result NN I-NP +, , O +GOP NNP B-NP +state NN I-NP +Rep. NNP I-NP +Stephen NNP I-NP +Freind NNP I-NP +of IN B-PP +Delaware NNP B-NP +County NNP I-NP +, , O +the DT B-NP +legislature NN I-NP +'s POS B-NP +leading VBG I-NP +foe NN I-NP +of IN B-PP +abortion NN B-NP +, , O +has VBZ B-VP +been VBN I-VP +given VBN I-VP +all DT B-ADVP +but CC I-ADVP +free JJ B-NP +rein NN I-NP +to TO B-VP +press VB I-VP +a DT B-NP +strict JJ I-NP +seven-point JJ I-NP +plan NN I-NP +to TO B-VP +restrict VB I-VP +abortion NN B-NP +and CC O +, , O +he PRP B-NP +hopes VBZ B-VP +, , O +to TO B-VP +force VB I-VP +the DT B-NP +Supreme NNP I-NP +Court NNP I-NP +directly RB B-ADVP +to TO B-VP +reassess VB I-VP +its PRP$ B-NP +1973 CD I-NP +Roe NNP I-NP +v. CC I-NP +Wade NNP I-NP +decision NN I-NP +that WDT B-NP +established VBD B-VP +the DT B-NP +right NN I-NP +of IN B-PP +abortion NN B-NP +in IN B-PP +the DT B-NP +first JJ I-NP +place NN I-NP +. . O + +The DT B-NP +Freind NNP I-NP +legislation NN I-NP +-- : O +the DT B-NP +state NN I-NP +'s POS B-NP +House NNP I-NP +Judiciary NNP I-NP +Committee NNP I-NP +approved VBD B-VP +it PRP B-NP +in IN B-PP +Harrisburg NNP B-NP +this DT B-NP +week NN I-NP +and CC O +the DT B-NP +full JJ I-NP +Pennsylvania NNP I-NP +House NNP I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +take VB I-VP +up IN B-PRT +the DT B-NP +bill NN I-NP +next JJ B-NP +Tuesday NNP I-NP +-- : O +includes VBZ B-VP +a DT B-NP +provision NN I-NP +to TO B-VP +ban VB I-VP +abortions NNS B-NP +after IN B-PP +24 CD B-NP +weeks NNS I-NP +of IN B-PP +pregnancy NN B-NP +, , O +except VB O +to TO B-VP +avert VB I-VP +the DT B-NP +death NN I-NP +of IN B-PP +the DT B-NP +mother NN I-NP +. . O + +Mr. NNP B-NP +Freind NNP I-NP +calculates VBZ B-VP +that IN B-SBAR +the DT B-NP +provision NN I-NP +, , O +which WDT B-NP +attacks VBZ B-VP +the DT B-NP +trimester NN I-NP +standards NNS I-NP +that IN B-NP +Roe NNP B-NP +established VBD B-VP +, , O +will MD B-VP +`` `` O +make VB B-VP +it PRP B-NP +necessary JJ B-ADJP +'' '' O +for IN B-SBAR +the DT B-NP +Supreme NNP I-NP +Court NNP I-NP +to TO B-VP +review VB I-VP +Roe NNP B-NP +and CC O +, , O +perhaps RB B-VP +, , I-VP +to TO I-VP +overturn VB B-VP +it PRP B-NP +. . O + +But CC O +the DT B-NP +Pennsylvania NNP I-NP +measure NN I-NP +also RB B-ADVP +includes VBZ B-VP +an DT B-NP +`` `` I-NP +informed VBN I-NP +consent NN I-NP +'' '' I-NP +provision NN I-NP +that WDT B-NP +may MD B-VP +become VB I-VP +widely RB B-VP +imitated VBN I-VP +by IN B-PP +abortion NN B-NP +foes NNS I-NP +who WP B-NP +want VBP B-VP +to TO I-VP +make VB I-VP +women NNS B-NP +contemplating VBG B-VP +abortion NN B-NP +as RB B-ADJP +uncomfortable JJ I-ADJP +as IN B-PP +possible JJ B-ADJP +with IN B-PP +the DT B-NP +procedure NN I-NP +and CC B-PP +with IN B-PP +themselves PRP B-NP +. . O + +Under IN B-PP +this DT B-NP +legislation NN I-NP +, , O +a DT B-NP +woman NN I-NP +must MD B-VP +be VB I-VP +informed VBN I-VP +24 CD B-NP +hours NNS I-NP +before IN B-PP +the DT B-NP +operation NN I-NP +of IN B-PP +the DT B-NP +details NNS I-NP +of IN B-PP +the DT B-NP +procedure NN I-NP +and CC O +its PRP$ B-NP +risks NNS I-NP +. . O + +`` `` O +Regardless RB B-ADVP +of IN B-PP +whether IN B-SBAR +one CD B-NP +supports VBZ B-VP +or CC I-VP +opposes VBZ I-VP +the DT B-NP +right NN I-NP +to TO B-PP +an DT B-NP +abortion NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Freind NNP I-NP +argues VBZ B-VP +, , O +`` `` O +it PRP B-NP +is VBZ B-VP +virtually RB B-ADJP +impossible JJ I-ADJP +for IN B-SBAR +any DT B-NP +rational JJ I-NP +human JJ I-NP +being NN I-NP +to TO B-VP +disagree VB I-VP +with IN B-PP +the DT B-NP +concept NN I-NP +that IN B-SBAR +a DT B-NP +woman NN I-NP +has VBZ B-VP +the DT B-NP +right NN I-NP +to TO B-VP +have VB I-VP +all DT B-NP +of IN B-PP +the DT B-NP +appropriate JJ I-NP +materials NNS I-NP +and CC I-NP +advice NN I-NP +made VBD B-VP +available JJ B-ADJP +to TO B-PP +her PRP B-NP +before IN B-SBAR +she PRP B-NP +makes VBZ B-VP +a DT B-NP +decision NN I-NP +which WDT B-NP +, , O +one CD B-NP +way NN I-NP +or CC O +the DT B-NP +other NN I-NP +, , O +might MD B-VP +remain VB I-VP +with IN B-PP +her PRP B-NP +for IN B-PP +the DT B-NP +rest NN I-NP +of IN B-PP +her PRP$ B-NP +life NN I-NP +. . O +'' '' O + +In IN B-PP +Michigan NNP B-NP +, , O +where WRB B-ADVP +the DT B-NP +state NN I-NP +Senate NNP I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +approve VB I-VP +parental-consent JJ B-NP +legislation NN I-NP +by IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +next JJ B-NP +week NN I-NP +, , O +Gov. NNP B-NP +Blanchard NNP I-NP +is VBZ B-VP +the DT B-NP +principal JJ I-NP +obstacle NN I-NP +for IN B-PP +anti-abortionists NNS B-NP +. . O + +Susan NNP B-NP +Rogin NNP I-NP +, , O +a DT B-NP +consultant NN I-NP +to TO B-PP +abortion-rights NNS B-NP +activists NNS I-NP +in IN B-PP +the DT B-NP +state NN I-NP +, , O +takes VBZ B-VP +comfort NN B-NP +from IN B-PP +the DT B-NP +fact NN I-NP +that IN B-SBAR +the DT B-NP +state NN I-NP +'s POS B-NP +House NNP I-NP +abortion NN I-NP +opponents NNS I-NP +`` `` O +have VBP B-VP +n't RB I-VP +been VBN I-VP +able JJ B-ADJP +to TO B-VP +muster VB I-VP +the DT B-NP +votes NNS I-NP +to TO B-VP +overturn VB I-VP +a DT B-NP +veto NN I-NP +on IN B-PP +abortion NN B-NP +in IN B-PP +16 CD B-NP +years NNS I-NP +. . O +'' '' O + +But CC O +proponents NNS B-NP +believe VBP B-VP +they PRP B-NP +may MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +shake VB I-VP +enough RB B-NP +votes VBZ I-NP +loose JJ B-ADJP +to TO B-VP +override VB I-VP +the DT B-NP +veto NN I-NP +if IN B-SBAR +they PRP B-NP +are VBP B-VP +successful JJ B-ADJP +in IN B-PP +portraying VBG B-VP +the DT B-NP +legislation NN I-NP +as IN B-PP +a DT B-NP +matter NN I-NP +of IN B-PP +parents NNS B-NP +' POS B-NP +rights NNS I-NP +. . O + +In IN B-PP +Illinois NNP B-NP +, , O +lawmakers NNS B-NP +will MD B-VP +vote VB I-VP +before IN B-PP +next JJ B-NP +spring NN I-NP +on IN B-PP +legislation NN B-NP +requiring VBG B-VP +physicians NNS B-NP +to TO B-VP +perform VB I-VP +tests NNS B-NP +on IN B-PP +fetuses NNS B-NP +at IN B-PP +20 CD B-NP +weeks NNS I-NP +to TO B-VP +determine VB I-VP +their PRP$ B-NP +gestational JJ I-NP +age NN I-NP +, , I-NP +weight NN I-NP +and CC I-NP +lung NN I-NP +maturity NN I-NP +along IN B-ADVP +with IN B-PP +a DT B-NP +provision NN I-NP +requiring VBG B-VP +that IN B-SBAR +, , O +if IN B-SBAR +fetuses NNS B-NP +survive VBP B-VP +an DT B-NP +abortion NN I-NP +, , O +a DT B-NP +second JJ I-NP +doctor NN I-NP +must MD B-VP +be VB I-VP +on IN B-PP +hand NN B-NP +to TO B-VP +help VB I-VP +it PRP B-NP +survive VB B-VP +. . O + +The DT B-NP +legislation NN I-NP +failed VBN B-VP +by IN B-PP +one CD B-NP +vote NN I-NP +to TO B-VP +clear VB I-VP +the DT B-NP +House NNP I-NP +Rules NNP I-NP +Committee NNP I-NP +Tuesday NNP B-NP +, , O +but CC O +anti-abortionists NNS B-NP +still RB B-ADVP +may MD B-VP +succeed VB I-VP +in IN B-PP +bringing VBG B-VP +the DT B-NP +measure NN I-NP +to TO B-PP +the DT B-NP +floor NN I-NP +this DT B-NP +fall NN I-NP +. . O + +Pamela NNP B-NP +Sutherland NNP I-NP +, , O +executive JJ B-NP +director NN I-NP +of IN B-PP +the DT B-NP +Illinois NNP I-NP +Planned NNP I-NP +Parenthood NNP I-NP +Council NNP I-NP +, , O +says VBZ B-VP +she PRP B-NP +and CC O +her PRP$ B-NP +allies NNS I-NP +are VBP B-VP +`` `` B-ADJP +cautiously RB I-ADJP +optimistic JJ I-ADJP +'' '' O +they PRP B-NP +can MD B-VP +defeat VB I-VP +it PRP B-NP +if IN B-SBAR +it PRP B-NP +comes VBZ B-VP +to TO B-PP +a DT B-NP +floor NN I-NP +vote NN I-NP +. . O + +Abortion NN B-NP +foes NNS I-NP +in IN B-PP +Wisconsin NNP B-NP +, , O +meanwhile RB B-ADVP +, , O +expect VBP B-VP +a DT B-NP +parental-consent JJ I-NP +bill NN I-NP +to TO B-VP +be VB I-VP +sent VBN I-VP +to TO B-PP +the DT B-NP +state NN I-NP +assembly NN I-NP +floor NN I-NP +by IN B-PP +early JJ B-NP +November NNP I-NP +and CC O +are VBP B-VP +hopeful NN B-ADJP +of IN B-PP +prevailing VBG B-VP +in IN B-PP +both DT B-NP +houses NNS I-NP +by IN B-PP +next JJ B-NP +March NNP I-NP +. . O + +In IN B-PP +Texas NNP B-NP +, , O +abortion NN B-NP +opponents NNS I-NP +want VBP B-VP +to TO I-VP +pass VB I-VP +parental-consent JJ B-NP +legislation NN I-NP +along IN B-PP +with IN B-PP +a DT B-NP +statewide JJ I-NP +ban NN I-NP +on IN B-PP +the DT B-NP +use NN I-NP +of IN B-PP +public JJ B-NP +funds NNS I-NP +, , I-NP +personnel NNS I-NP +and CC I-NP +facilities NNS I-NP +for IN B-PP +abortion NN B-NP +, , O +and CC O +viability NN B-NP +tests NNS I-NP +for IN B-PP +fetuses NNS B-NP +19 CD B-NP +weeks NNS I-NP +and CC O +older JJR B-ADJP +. . O + +The DT B-NP +anti-abortionists NNS I-NP +are VBP B-VP +urging VBG I-VP +GOP NNP B-NP +Gov. NNP I-NP +Bill NNP I-NP +Clements NNP I-NP +to TO B-VP +press VB I-VP +the DT B-NP +issues NNS I-NP +in IN B-PP +a DT B-NP +special JJ I-NP +session NN I-NP +scheduled VBN B-VP +to TO I-VP +run VB I-VP +Nov. NNP B-NP +14 CD I-NP +to TO O +Dec. NNP B-NP +13 CD I-NP +. . O + +`` `` O +The DT B-NP +prognosis NN I-NP +is VBZ B-VP +only RB B-ADVP +fair JJ B-ADJP +, , O +'' '' O +says VBZ B-VP +Kathie NNP B-NP +Roberts NNP I-NP +, , O +administrative JJ B-NP +director NN I-NP +of IN B-PP +the DT O +Texas NNP O +Right NNP O +to TO B-PP +Life NNP B-NP +Committee NNP B-NP +. . O + +`` `` O +Next JJ B-NP +year NN I-NP +is VBZ B-VP +an DT B-NP +election NN I-NP +year NN I-NP +and CC O +the DT B-NP +legislators NNS I-NP +just RB B-ADVP +do VBP B-VP +n't RB I-VP +want VB I-VP +to TO I-VP +do VB I-VP +anything NN B-NP +about IN B-PP +this DT B-NP +now RB B-ADVP +. . O +'' '' O + +This DT B-NP +legislative JJ I-NP +activity NN I-NP +comes VBZ B-VP +as IN B-SBAR +both DT B-NP +sides NNS I-NP +are VBP B-VP +undertaking VBG I-VP +new JJ B-NP +mobilization NN I-NP +efforts NNS I-NP +, , O +plunging VBG B-VP +into IN B-PP +gubernatorial JJ B-NP +races NNS I-NP +in IN B-PP +Virginia NNP B-NP +and CC O +New NNP B-NP +Jersey NNP I-NP +, , O +and CC O +girding VBG B-VP +for IN B-PP +next JJ B-NP +autumn NN I-NP +'s POS B-NP +state NN I-NP +elections NNS I-NP +. . O + +At IN B-PP +the DT B-NP +same JJ I-NP +time NN I-NP +, , O +abortion NN B-NP +foes NNS I-NP +have VBP B-VP +developed VBN I-VP +a DT B-NP +national JJ I-NP +legislative JJ I-NP +strategy NN I-NP +, , O +deciding VBG B-VP +to TO I-VP +move VB I-VP +on IN B-PP +what WP B-NP +Jacki NNP B-NP +Ragan NNP I-NP +, , O +the DT O +National NNP O +Right NNP O +to TO B-PP +Life NNP B-NP +Committee NNP B-NP +'s POS B-NP +director NN I-NP +of IN B-PP +state NN B-NP +organizational JJ I-NP +development NN I-NP +, , O +calls VBZ B-VP +`` `` O +reasonable JJ B-NP +measures NNS I-NP +that IN B-NP +an DT B-NP +overwhelming JJ I-NP +mainstream NN I-NP +majority NN I-NP +of IN B-PP +Americans NNPS B-NP +support NN B-VP +. . O +'' '' O + +These DT B-NP +include VBP B-VP +bans NNS B-NP +on IN B-PP +the DT B-NP +use NN I-NP +of IN B-PP +abortion NN B-NP +for IN B-PP +birth NN B-NP +control NN I-NP +and CC O +sex NN B-NP +selection NN I-NP +, , O +and CC O +the DT B-NP +public JJ I-NP +funding NN I-NP +of IN B-PP +alternatives NNS B-NP +for IN B-PP +abortion NN B-NP +. . O + +`` `` O +Those DT B-NP +who WP B-NP +are VBP B-VP +on IN B-PP +the DT B-NP +other JJ I-NP +side NN I-NP +can MD B-VP +hardly RB I-VP +oppose VB I-VP +alternative NN B-NP +funding NN I-NP +if IN B-SBAR +they PRP B-NP +continue VBP B-VP +to TO I-VP +insist VB I-VP +on IN B-PP +calling VBG B-VP +themselves PRP B-NP +` `` B-ADJP +pro-choice JJ I-ADJP +' '' O +rather RB B-PP +than IN I-PP +` `` O +pro-abortion JJ B-ADJP +, , O +' '' O +'' '' O +says VBZ B-VP +Mary NNP B-NP +Spaulding NNP I-NP +, , O +the DT B-NP +group NN I-NP +'s POS B-NP +associate JJ I-NP +state NN I-NP +legislative JJ I-NP +coordinator NN I-NP +. . O + +Over IN B-PP +the DT B-NP +weekend NN I-NP +, , O +the DT B-NP +National NNP I-NP +Abortion NNP I-NP +Rights NNP I-NP +Action NNP I-NP +League NNP I-NP +singled VBD B-VP +out RP B-PRT +eight CD B-NP +politicians NNS I-NP +, , O +including VBG B-PP +Pennsylvania NNP B-NP +'s POS B-NP +Mr. NNP I-NP +Freind NNP I-NP +, , O +as IN B-PP +1990 CD B-NP +targets NNS I-NP +and CC O +held VBD B-VP +a DT B-NP +Washington NNP I-NP +seminar NN I-NP +designed VBN B-VP +to TO I-VP +train VB I-VP +its PRP$ B-NP +leaders NNS I-NP +in IN B-PP +political JJ B-NP +techniques NNS I-NP +, , O +including VBG B-PP +how WRB B-ADVP +to TO B-VP +put VB I-VP +the DT B-NP +anti-abortionists NNS I-NP +on IN B-PP +the DT B-NP +defensive NN I-NP +in IN B-PP +state NN B-NP +legislatures NNS I-NP +. . O + +`` `` O +We PRP B-NP +now RB B-ADVP +see VBP B-VP +pro-choice JJ B-NP +legislators NNS I-NP +going VBG B-VP +on IN B-PP +the DT B-NP +offensive NN I-NP +for IN B-PP +the DT B-NP +first JJ I-NP +time NN I-NP +, , O +'' '' O +says VBZ B-VP +Kate NNP B-NP +Michelman NNP I-NP +, , O +executive JJ B-NP +director NN I-NP +of IN B-PP +the DT B-NP +group NN I-NP +. . O + +Wall NNP B-NP +Street NNP I-NP + +When WRB B-ADVP +I PRP B-NP +was VBD B-VP +just RB B-NP +a DT I-NP +child NN I-NP +And CC O +confronted VBN B-VP +by IN B-PP +my PRP$ B-NP +fears NNS I-NP +, , O +The DT B-NP +things NNS I-NP +that IN B-NP +I PRP B-NP +thought VBD B-VP +would MD B-VP +get VB I-VP +me PRP B-NP +Had VBD B-VP +fangs NNS B-NP +and CC O +pointed VBD B-NP +ears NNS I-NP +. . O + +Nothing NN B-NP +much NN B-ADJP +has VBZ B-VP +changed VBN I-VP +-- : O +My PRP$ B-NP +periodic JJ I-NP +scares NNS I-NP +Are VBP B-VP +still RB B-ADVP +from IN B-PP +hostile JJ B-NP +animals NNS I-NP +, , O +Only RB O +now RB B-ADVP +, , O +they PRP B-NP +'re VBP B-VP +bulls NNS B-NP +and CC I-NP +bears VBZ I-NP +. . O + +-- : B-NP +Pat NNP I-NP +D'Amico NNP I-NP +. . O + +Daffynition NN B-NP + +Trained VBN B-NP +dolphins NNS I-NP +: : O +pur-poises NNS B-NP +. . O + +-- : B-NP +Marrill NNP I-NP +J. NNP I-NP +Pederson NNP I-NP +. . O + +This DT B-NP +maker NN I-NP +and CC I-NP +marketer NN I-NP +of IN B-PP +cartridge NN B-NP +tape NN I-NP +systems NNS I-NP +said VBD B-VP +it PRP B-NP +completed VBD B-VP +the DT B-NP +sale NN I-NP +of IN B-PP +2.85 CD B-NP +million CD I-NP +shares NNS I-NP +of IN B-PP +common JJ B-NP +priced VBN B-VP +at IN B-PP +$ $ B-NP +10 CD I-NP +a DT B-NP +share NN I-NP +in IN B-PP +an DT B-NP +initial JJ I-NP +public JJ I-NP +offering NN I-NP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +that IN B-SBAR +it PRP B-NP +is VBZ B-VP +selling VBG I-VP +two CD B-NP +million CD I-NP +shares NNS I-NP +and CC O +that IN B-SBAR +the DT B-NP +rest NN I-NP +are VBP B-VP +being VBG I-VP +sold VBN I-VP +by IN B-PP +certain JJ B-NP +stockholders NNS I-NP +. . O + +Proceeds NNS B-NP +will MD B-VP +be VB I-VP +used VBN I-VP +for IN B-PP +capital NN B-NP +expenditures NNS I-NP +and CC O +working VBG B-NP +capital NN I-NP +. . O + +Goldman NNP B-NP +, , I-NP +Sachs NNP I-NP +& CC I-NP +Co. NNP I-NP +and CC O +Montgomery NNP B-NP +Securities NNP I-NP +Inc. NNP I-NP +are VBP B-VP +co-managing JJ I-VP +the DT B-NP +offering NN I-NP +. . O + +Congress NNP B-NP +sent VBD B-VP +President NNP B-NP +Bush NNP I-NP +an DT B-NP +$ $ I-NP +18.4 CD I-NP +billion CD I-NP +fiscal JJ I-NP +1990 CD I-NP +Treasury NNP I-NP +and CC I-NP +Postal NNP I-NP +Service NNP I-NP +bill NN I-NP +providing VBG B-VP +$ $ B-NP +5.5 CD I-NP +billion CD I-NP +for IN B-PP +the DT B-NP +Internal NNP I-NP +Revenue NNP I-NP +Service NNP I-NP +and CC O +increasing VBG B-VP +the DT B-NP +Customs NNP I-NP +Service NNP I-NP +'s POS B-NP +air-interdiction NN I-NP +program NN I-NP +nearly RB B-NP +a DT I-NP +third JJ I-NP +. . O + +Final JJ B-NP +approval NN I-NP +came VBD B-VP +on IN B-PP +a DT B-NP +simple JJ I-NP +voice NN I-NP +vote NN I-NP +in IN B-PP +the DT B-NP +Senate NNP I-NP +, , O +and CC O +the DT B-NP +swift JJ I-NP +passage NN I-NP +contrasted VBN B-VP +with IN B-PP +months NNS B-NP +of IN B-PP +negotiations NNS B-NP +over IN B-PP +the DT B-NP +underlying VBG I-NP +bill NN I-NP +which WDT B-NP +is VBZ B-VP +laced VBN B-ADJP +with IN B-PP +special-interest JJ B-NP +provisions NNS I-NP +for IN B-PP +both DT B-NP +members NNS B-NP +and CC O +the DT B-NP +executive JJ I-NP +branch NN I-NP +. . O + +An DT B-NP +estimated VBN I-NP +$ $ I-NP +33 CD I-NP +million CD I-NP +was VBD B-VP +added VBN I-VP +for IN B-PP +university NN B-NP +and CC I-NP +science NN I-NP +grants NNS I-NP +, , O +including VBG B-PP +$ $ B-NP +1.5 CD I-NP +million CD I-NP +for IN B-PP +Smith NNP B-NP +College NNP I-NP +. . O + +And CC O +Southwest NNP B-NP +lawmakers NNS I-NP +were VBD B-VP +a DT B-NP +driving VBG I-NP +force NN I-NP +behind IN B-PP +$ $ B-NP +54.6 CD I-NP +million CD I-NP +for IN B-PP +U.S.-Mexico JJ B-NP +border NN I-NP +facilities NNS I-NP +, , O +or CC O +more JJR O +than IN O +double VB O +the DT B-NP +administration NN I-NP +'s POS B-NP +request NN I-NP +. . O + +More RBR B-NP +than IN I-NP +$ $ I-NP +1.8 CD I-NP +million CD I-NP +is VBZ B-VP +allocated VBN I-VP +for IN B-PP +pensions NNS B-NP +and CC I-NP +expenses NNS I-NP +for IN B-PP +former JJ B-NP +presidents NNS I-NP +, , O +and CC O +the DT B-NP +budget NN I-NP +for IN B-PP +the DT B-NP +official JJ I-NP +residence NN I-NP +of IN B-PP +Vice NNP B-NP +President NNP I-NP +Quayle NNP I-NP +is VBZ B-VP +more RBR I-VP +than IN I-VP +doubled VBN I-VP +, , O +with IN B-SBAR +$ $ B-NP +200,000 CD I-NP +designated VBN B-VP +for IN B-PP +improvements NNS B-NP +to TO B-PP +the DT B-NP +property NN I-NP +. . O + +Even RB B-NP +the DT I-NP +Office NNP I-NP +of IN B-PP +Management NNP B-NP +and CC I-NP +Budget NNP I-NP +is VBZ B-VP +remembered VBN I-VP +with IN B-PP +an DT B-NP +extra JJ I-NP +$ $ I-NP +1 CD I-NP +million CD I-NP +to TO B-VP +help VB I-VP +offset VB I-VP +pay NN B-NP +costs NNS I-NP +that IN B-NP +other JJ B-NP +government NN I-NP +departments NNS I-NP +are VBP B-VP +being VBG I-VP +asked VBN I-VP +to TO B-VP +absorb VB I-VP +. . O + +Within IN B-PP +the DT B-NP +IRS NNP I-NP +, , O +nearly RB B-NP +$ $ I-NP +1.95 CD I-NP +billion CD I-NP +is VBZ B-VP +provided VBN I-VP +for IN B-PP +processing NN B-VP +tax NN B-NP +returns NNS I-NP +, , O +a DT B-NP +12 CD I-NP +% NN I-NP +increase NN I-NP +over IN B-PP +fiscal JJ B-NP +1989 CD I-NP +and CC O +double JJ B-NP +what WP B-NP +the DT B-NP +government NN I-NP +was VBD B-VP +spending VBG I-VP +five CD B-NP +years NNS I-NP +ago RB B-ADVP +. . O + +Investigation NNP B-NP +and CC I-NP +taxpayer NN I-NP +service NN I-NP +accounts NNS I-NP +would MD B-VP +grow VB I-VP +to TO B-PP +$ $ B-NP +1.6 CD I-NP +billion CD I-NP +, , O +and CC O +Congress NNP B-NP +specifically RB B-ADVP +added VBD B-VP +$ $ B-NP +7.4 CD I-NP +million CD I-NP +for IN B-PP +stepped VBN O +up IN B-PRT +criminal JJ B-NP +investigations NNS I-NP +of IN B-PP +money NN B-NP +laundering NN I-NP +related VBN B-VP +to TO B-PP +drug NN B-NP +traffic NN I-NP +. . O + +The DT B-NP +large JJ I-NP +increase NN I-NP +in IN B-PP +Customs NNP B-NP +Service NNP I-NP +air-interdiction NN I-NP +funds NNS I-NP +is VBZ B-VP +also RB I-VP +intended VBN I-VP +to TO I-VP +counter VB I-VP +smuggling VBG B-NP +, , O +and CC O +the DT B-NP +annual JJ I-NP +appropriations NNS I-NP +level VBP I-NP +has VBZ B-VP +more RBR I-VP +than IN I-VP +quadrupled VBN I-VP +in IN B-PP +five CD B-NP +years NNS I-NP +. . O + +The DT B-NP +$ $ I-NP +196.7 CD I-NP +million CD I-NP +provided VBN B-VP +for IN B-PP +fiscal JJ B-NP +1990 CD I-NP +anticipates VBZ B-VP +the DT B-NP +purchase NN I-NP +of IN B-PP +a DT B-NP +Lockheed NNP I-NP +P-3 NN I-NP +surveillance NN I-NP +aircraft NN I-NP +and CC O +five CD B-NP +Cessna NNP I-NP +Citation NNP I-NP +II NNP I-NP +jets NNS I-NP +. . O + +Despite IN B-PP +administration NN B-NP +reservations NNS I-NP +, , O +the DT B-NP +plan NN I-NP +has VBZ B-VP +had VBN I-VP +the DT B-NP +quiet JJ I-NP +backing NN I-NP +of IN B-PP +customs NNS B-NP +officials NNS I-NP +as RB B-CONJP +well RB I-CONJP +as IN I-CONJP +influential JJ B-NP +lawmakers NNS I-NP +from IN B-PP +Cessna NNP B-NP +'s POS B-NP +home NN I-NP +state NN I-NP +, , O +Kansas NNP B-NP +. . O + +Among IN B-PP +legislative JJ B-NP +provisions NNS I-NP +attached VBN B-VP +to TO B-PP +the DT B-NP +bill NN I-NP +is VBZ B-VP +a DT B-NP +ban NN I-NP +on IN B-PP +any DT B-NP +Treasury NNP I-NP +Department NNP I-NP +expenditure NN I-NP +for IN B-PP +enforcement NN B-NP +of IN B-PP +a DT B-NP +1986 CD I-NP +tax NN I-NP +provision NN I-NP +intended VBN B-VP +to TO I-VP +counter VB I-VP +discrimination NN B-NP +in IN B-PP +employee-benefit JJ B-NP +plans NNS I-NP +. . O + +Small-business NN B-NP +interests NNS I-NP +have VBP B-VP +lobbied VBN I-VP +against IN B-PP +the DT B-NP +so-called JJ I-NP +Section NN I-NP +89 CD I-NP +tax NN I-NP +rules NNS I-NP +. . O + +Repeal NN B-NP +is VBZ B-VP +considered VBN I-VP +likely JJ B-ADJP +now RB B-ADVP +, , O +but CC O +the DT B-NP +Treasury NNP I-NP +Department NNP I-NP +bill NN I-NP +has VBZ B-VP +been VBN I-VP +used VBN I-VP +as IN B-PP +a DT B-NP +vehicle NN I-NP +to TO B-VP +raise VB I-VP +the DT B-NP +profile NN I-NP +of IN B-PP +the DT B-NP +issue NN I-NP +and CC O +block VB B-VP +any DT B-NP +action NN I-NP +in IN B-PP +the DT B-NP +interim NN I-NP +. . O + +Less RBR B-ADJP +noticed VBD I-ADJP +is VBZ B-VP +a DT B-NP +bit NN I-NP +of IN B-PP +legislative JJ B-NP +legerdemain NN I-NP +by IN B-PP +Houston NNP B-NP +Republicans NNPS I-NP +on IN B-PP +behalf NN B-NP +of IN B-PP +HEI NNP B-NP +Corp. NNP I-NP +of IN B-PP +Texas NNP B-NP +to TO B-VP +retroactively RB I-VP +`` `` I-VP +move NN I-VP +'' '' O +a DT B-NP +Missouri NNP I-NP +hospital NN I-NP +from IN B-PP +one CD B-NP +county NN I-NP +to TO B-PP +the DT B-NP +next JJ I-NP +to TO B-VP +justify VB I-VP +higher JJR B-NP +Medicare NNP I-NP +reimbursements NNS I-NP +. . O + +The DT B-NP +provision NN I-NP +seeks VBZ B-VP +to TO I-VP +wipe VB I-VP +out RP B-PRT +an DT B-NP +estimated VBN I-NP +$ $ I-NP +1.4 CD I-NP +million CD I-NP +in IN B-PP +claims NNS B-NP +made VBN B-VP +by IN B-PP +the DT B-NP +Health NNP I-NP +Care NNP I-NP +Finance NNP I-NP +Administration NNP I-NP +against IN B-PP +HEI NNP B-NP +, , O +which WDT B-NP +owned VBD B-VP +the DT B-NP +hospital NN I-NP +in IN B-PP +Sullivan NNP B-NP +, , O +Mo. NNP B-NP +, , O +during IN B-PP +most RBS B-NP +of IN B-PP +the DT B-NP +four-year JJ I-NP +period NN I-NP +-- : O +1983-1987 CD B-NP +-- : O +covered VBN B-VP +in IN B-PP +the DT B-NP +amendment NN I-NP +. . O + +In IN B-PP +a DT B-NP +separate JJ I-NP +development NN I-NP +, , O +a DT B-NP +private JJ I-NP +meeting NN I-NP +is VBZ B-VP +scheduled VBN I-VP +this DT B-NP +morning NN I-NP +between IN B-PP +House NNP B-NP +Appropriations NNP I-NP +Committee NNP I-NP +Chairman NNP I-NP +Jamie NNP I-NP +Whitten NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Miss NNP B-NP +. . O +-RRB- ) O +and CC O +Sen. NNP B-NP +Dale NNP I-NP +Bumpers NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Ark NNP B-NP +. . O +-RRB- ) O +in IN B-PP +an DT B-NP +effort NN I-NP +to TO B-VP +end VB I-VP +a DT B-NP +dispute NN I-NP +which WDT B-NP +for IN B-PP +two CD B-NP +weeks NNS I-NP +has VBZ B-VP +delayed VBN I-VP +action NN B-NP +on IN B-PP +an DT B-NP +estimated VBN I-NP +$ $ I-NP +44 CD I-NP +billion CD I-NP +agriculture NN I-NP +bill NN I-NP +. . O + +A DT B-NP +House-Senate NNP I-NP +conference NN I-NP +reached VBD B-VP +agreement NN B-NP +Oct. NNP B-NP +5 NN I-NP +on IN B-PP +virtually RB B-NP +all DT I-NP +major JJ I-NP +provisions NNS I-NP +of IN B-PP +the DT B-NP +bill NN I-NP +, , O +but CC O +final JJ B-NP +settlement NN I-NP +has VBZ B-VP +been VBN I-VP +stalled VBN I-VP +because IN B-PP +of IN I-PP +differences NNS B-NP +between IN B-PP +the DT B-NP +two CD I-NP +men NNS I-NP +over IN B-PP +the DT B-NP +fate NN I-NP +of IN B-PP +a DT B-NP +modest JJ I-NP +Arkansas-based JJ I-NP +program NN I-NP +to TO B-VP +provide VB I-VP +technical JJ B-NP +information NN I-NP +to TO B-PP +farmers NNS B-NP +seeking VBG B-VP +to TO I-VP +reduce VB I-VP +their PRP$ B-NP +dependence NN I-NP +on IN B-PP +chemical NN B-NP +fertilizers NNS I-NP +and CC I-NP +pesticides NNS I-NP +. . O + +The DT B-NP +program NN I-NP +'s POS B-NP +nonprofit JJ I-NP +sponsors NNS I-NP +received VBD B-VP +$ $ B-NP +900,000 CD I-NP +in IN B-PP +fiscal JJ B-NP +1989 CD I-NP +through IN B-PP +an DT B-NP +Extension NNP I-NP +Service NNP I-NP +grant NN I-NP +, , O +but CC O +Mr. NNP B-NP +Whitten NNP I-NP +has VBZ B-VP +been VBN I-VP +adamant JJ B-ADJP +in IN B-PP +insisting VBG B-VP +that IN B-SBAR +the DT B-NP +program NN I-NP +be VB B-VP +cut VBN I-VP +in IN B-PP +1990 CD B-NP +. . O + +The DT B-NP +79-year-old NNP I-NP +Mississippian NNP I-NP +takes VBZ B-VP +a DT B-NP +more RBR I-NP +orthodox JJ I-NP +, , I-NP +entrenched VBN I-NP +view NN I-NP +of IN B-PP +agriculture NN B-NP +policy NN I-NP +than IN B-PP +those DT B-NP +in NN B-PP +the DT B-NP +movement NN I-NP +to TO B-VP +reduce VB I-VP +chemical NN B-NP +use NN I-NP +, , O +but CC O +as IN B-PP +a DT B-NP +master NN I-NP +of IN B-PP +pork-barrel JJ B-NP +politics NNS I-NP +, , O +he PRP B-NP +is VBZ B-VP +believed VBN I-VP +to TO I-VP +be VB I-VP +annoyed VBN B-ADJP +as IN I-ADJP +well RB I-ADJP +that IN B-SBAR +the DT B-NP +project NN I-NP +moved VBD B-VP +to TO B-PP +Arkansas NNP B-NP +from IN B-PP +a DT B-NP +Tennessee NNP I-NP +center NN I-NP +near IN B-PP +Memphis NNP B-NP +and CC O +the DT B-NP +northern JJ I-NP +Mississippi NNP I-NP +border NN I-NP +. . O + +Michael NNP B-NP +F. NNP I-NP +Klatman NNP I-NP +, , O +director NN B-NP +of IN B-PP +corporate JJ B-NP +public JJ I-NP +relations NNS I-NP +at IN B-PP +Data NNP B-NP +General NNP I-NP +Corp. NNP I-NP +, , O +was VBD B-VP +named VBN I-VP +to TO B-PP +the DT B-NP +new JJ I-NP +position NN I-NP +of IN B-PP +vice NN B-NP +president NN I-NP +, , O +corporate JJ B-NP +communications NNS I-NP +, , O +of IN B-PP +this DT B-NP +maker NN I-NP +of IN B-PP +data NNS B-NP +storage NN I-NP +equipment NN I-NP +. . O + +B.A.T NNP B-NP +Industries NNP I-NP +PLC NNP I-NP +may MD B-VP +delay VB I-VP +aspects NNS B-NP +of IN B-PP +its PRP$ B-NP +defensive JJ I-NP +restructuring NN I-NP +plan NN I-NP +-- : O +including VBG B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +its PRP$ B-NP +Saks NNP I-NP +Fifth NNP I-NP +Avenue NNP I-NP +and CC I-NP +Marshall NNP I-NP +Field NNP I-NP +units NNS I-NP +-- : O +in IN B-PP +the DT B-NP +wake NN I-NP +of IN B-PP +the DT B-NP +current JJ I-NP +upheaval NN I-NP +in IN B-PP +financial JJ B-NP +markets NNS I-NP +, , O +company NN B-NP +officials NNS I-NP +said VBD B-VP +. . O + +The DT B-NP +British JJ I-NP +conglomerate NN I-NP +, , O +planning VBG B-VP +its PRP$ B-NP +own JJ I-NP +defensive JJ I-NP +restructuring NN I-NP +to TO B-VP +fight VB I-VP +off IN B-PRT +a DT O +# # O +13.35 CD O +billion CD O +-LRB- ( O +$ $ B-ADJP +21.03 CD O +billion CD O +-RRB- ) O +takeover NN B-NP +bid NN I-NP +by IN B-PP +Anglo-French JJ B-NP +financier NN I-NP +Sir NNP I-NP +James NNP I-NP +Goldsmith NNP I-NP +, , O +intends VBZ B-VP +to TO I-VP +press VB I-VP +ahead RB B-ADVP +with IN B-PP +an DT B-NP +extraordinary JJ I-NP +shareholder NN I-NP +vote NN I-NP +today NN B-NP +to TO B-VP +clear VB I-VP +the DT B-NP +way NN I-NP +for IN B-PP +its PRP$ B-NP +value-boosting JJ I-NP +measures NNS I-NP +. . O + +If IN O +anything NN B-NP +, , O +the DT B-NP +gyrations NNS I-NP +in IN B-PP +world NN B-NP +stock NN I-NP +markets NNS I-NP +-- : O +and CC O +in IN B-PP +B.A.T NNP B-NP +'s POS B-NP +share NN I-NP +price NN I-NP +-- : O +since IN B-PP +last JJ B-NP +Friday NNP I-NP +'s POS B-NP +sharp JJ I-NP +Wall NNP I-NP +Street NNP I-NP +sell-off NN I-NP +have VBP B-VP +increased VBN I-VP +the DT B-NP +likelihood NN I-NP +of IN B-PP +shareholder NN B-NP +approval NN I-NP +for IN B-PP +the DT B-NP +restructuring NN I-NP +, , O +analysts NNS B-NP +and CC O +several JJ B-NP +big JJ I-NP +institutional JJ I-NP +holders NNS I-NP +said VBD B-VP +. . O + +`` `` O +Thank VB B-VP +God NNP B-NP +we PRP B-NP +have VBP B-VP +some DT B-NP +deal NN I-NP +on IN B-PP +the DT B-NP +table NN I-NP +, , O +'' '' O +said VBD B-VP +Stewart NNP B-NP +Gilchrist NNP I-NP +, , O +a DT B-NP +director NN I-NP +at IN B-PP +Scottish NNP B-NP +Amicable NNP I-NP +Investment NNP I-NP +Managers NNS I-NP +, , O +which WDT B-NP +intends VBZ B-VP +to TO I-VP +vote VB I-VP +its PRP$ B-NP +roughly RB I-NP +1 CD I-NP +% NN I-NP +stake NN I-NP +in IN B-PP +favor NN B-NP +of IN B-PP +the DT B-NP +restructuring NN I-NP +. . O + +Investors NNS B-NP +in IN B-PP +B.A.T NNP B-NP +have VBP B-VP +been VBN I-VP +on IN B-PP +a DT B-NP +roller NN I-NP +coaster NN I-NP +. . O + +B.A.T NNP B-NP +has VBZ B-VP +been VBN I-VP +London NNP B-NP +'s POS B-NP +best-performing JJ I-NP +blue JJ I-NP +chip NN I-NP +over IN B-PP +the DT B-NP +past JJ I-NP +six CD I-NP +months NNS I-NP +, , O +up IN B-ADVP +40 CD B-NP +% NN I-NP +against IN B-PP +a DT B-NP +4 CD I-NP +% NN I-NP +rise NN I-NP +in IN B-PP +the DT B-NP +Financial NNP I-NP +Times NNP I-NP +100-Share NNP I-NP +Index NNP I-NP +. . O + +But CC O +this DT B-NP +week NN I-NP +, , O +B.A.T NNP B-NP +has VBZ B-VP +been VBN I-VP +hit VBN I-VP +harder JJR B-ADVP +than IN B-PP +other JJ B-NP +big JJ I-NP +U.K. NNP I-NP +stocks NNS I-NP +-- : O +first JJ B-ADVP +by IN B-PP +the DT B-NP +market NN I-NP +gyrations NNS I-NP +, , O +then RB B-ADVP +by IN B-PP +Tuesday NNP B-NP +'s POS B-NP +San NNP I-NP +Francisco NNP I-NP +earthquake NN I-NP +, , O +which WDT B-NP +could MD B-VP +leave VB I-VP +B.A.T NNP B-NP +'s POS B-NP +Farmers NNP I-NP +Group NNP I-NP +Inc. NNP I-NP +insurance NN I-NP +unit NN I-NP +facing VBG B-VP +big JJ B-NP +claims NNS I-NP +. . O + +B.A.T NNP B-NP +rose VBD B-VP +five CD B-NP +pence NN I-NP +-LRB- ( O +eight CD B-NP +cents NNS I-NP +-RRB- ) O +to TO B-PP +756 CD B-NP +pence NN I-NP +-LRB- ( O +$ $ B-NP +11.91 CD I-NP +-RRB- ) O +in IN B-PP +London NNP B-NP +yesterday NN B-NP +as IN B-SBAR +a DT B-NP +late JJ I-NP +market NN I-NP +rally NN I-NP +erased VBD B-VP +a DT B-NP +28-pence JJ I-NP +fall NN I-NP +earlier RBR B-ADVP +in IN B-PP +the DT B-NP +day NN I-NP +. . O + +To TO B-VP +fight VB I-VP +off IN B-PRT +predators NNS B-NP +, , O +B.A.T NNP B-NP +plans VBZ B-VP +to TO I-VP +spin VB I-VP +off IN B-PRT +about RB B-NP +$ $ I-NP +6 CD I-NP +billion CD I-NP +in IN B-PP +assets NNS B-NP +, , O +largely RB B-ADVP +by IN B-PP +selling VBG B-VP +such JJ B-NP +U.S. NNP I-NP +retailing NN I-NP +units NNS I-NP +as IN B-PP +Marshall NNP B-NP +Field NNP I-NP +and CC O +Saks NNP B-NP +and CC B-PP +by IN B-PP +floating VBG B-VP +its PRP$ B-NP +big JJ I-NP +paper NN I-NP +and CC I-NP +U.K. NNP I-NP +retailing NN I-NP +business NN I-NP +via IN B-PP +share NN B-NP +issues NNS I-NP +to TO B-PP +existing VBG B-NP +holders NNS I-NP +. . O + +Proceeds NNS B-NP +will MD B-VP +help VB I-VP +pay VB I-VP +for IN B-PP +a DT B-NP +planned VBN I-NP +buy-back NN I-NP +of IN B-PP +10 CD B-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +shares NNS I-NP +and CC O +a DT B-NP +50 CD I-NP +% NN I-NP +dividend NN I-NP +increase NN I-NP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +the DT B-NP +restructuring NN I-NP +will MD B-VP +get VB I-VP +the DT B-NP +required VBN I-NP +support NN I-NP +, , O +'' '' O +said VBD B-VP +Michael NNP B-NP +Pacitti NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +at IN B-PP +London NNP B-NP +stockbroker NN I-NP +UBS NNP I-NP +Phillips NNP I-NP +& CC I-NP +Drew NNP I-NP +. . O + +`` `` O +The DT B-NP +shareholders NNS I-NP +effectively RB B-ADVP +will MD B-VP +support VB I-VP +the DT B-NP +share NN I-NP +price NN I-NP +by IN B-PP +clearing VBG B-VP +the DT B-NP +share NN I-NP +buy-back NN I-NP +. . O +'' '' O + +But CC O +B.A.T NNP B-NP +'s POS B-NP +restructuring NN I-NP +, , O +which WDT B-NP +was VBD B-VP +never RB I-VP +going VBG I-VP +to TO I-VP +happen VB I-VP +quickly RB B-ADVP +, , O +now RB B-ADVP +will MD B-VP +take VB I-VP +longer RB B-ADVP +because IN B-PP +of IN I-PP +the DT B-NP +market NN I-NP +upheaval NN I-NP +. . O + +Company NN B-NP +officials NNS I-NP +, , I-NP +holders NNS I-NP +and CC I-NP +analysts NNS I-NP +who WP B-NP +previously RB B-ADVP +expected VBN B-VP +the DT B-NP +disposals NNS I-NP +to TO B-VP +be VB I-VP +substantially RB B-ADJP +complete JJ I-ADJP +by IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +next JJ B-NP +year NN I-NP +'s POS I-NP +first JJ B-NP +half NN I-NP +now RB B-ADVP +say VBP B-VP +the DT B-NP +market NN I-NP +gyrations NNS I-NP +could MD B-VP +delay VB I-VP +the DT B-NP +actions NNS I-NP +well RB B-ADVP +into IN B-PP +the DT B-NP +second JJ I-NP +half NN I-NP +. . O + +`` `` O +We PRP B-NP +are VBP B-VP +n't RB O +forced VBN B-NP +sellers NNS I-NP +. . O + +We PRP B-NP +do VBP B-VP +n't RB I-VP +have VB I-VP +an DT B-NP +absolute JJ I-NP +deadline NN I-NP +and CC O +if IN B-SBAR +market NN B-NP +conditions NNS I-NP +are VBP B-VP +truly RB B-ADJP +awful JJ I-ADJP +we PRP B-NP +might MD B-VP +decide VB I-VP +it PRP B-NP +is VBZ B-VP +not RB O +the DT B-NP +right JJ I-NP +time NN I-NP +, , O +'' '' O +to TO B-VP +take VB I-VP +particular JJ B-NP +steps NNS I-NP +, , O +said VBD B-VP +Michael NNP B-NP +Prideaux NNP I-NP +, , O +a DT B-NP +B.A.T NNP I-NP +spokesman NN I-NP +. . O + +Even RB B-SBAR +if IN I-SBAR +B.A.T NNP B-NP +receives VBZ B-VP +approval NN B-NP +for IN B-PP +the DT B-NP +restructuring NN I-NP +, , O +the DT B-NP +company NN I-NP +will MD B-VP +remain VB I-VP +in IN B-PP +play NN B-NP +, , O +say VBP B-VP +shareholders NNS B-NP +and CC I-NP +analysts NNS I-NP +, , O +though IN B-SBAR +the DT B-NP +situation NN I-NP +may MD B-VP +unfold VB I-VP +over IN B-PP +the DT B-NP +next JJ I-NP +12 CD I-NP +months NNS I-NP +, , O +rather RB B-PP +than IN I-PP +six CD B-NP +. . O + +The DT B-NP +new JJ I-NP +B.A.T NNP I-NP +will MD B-VP +be VB I-VP +a DT B-NP +smaller JJR I-NP +tobacco NN I-NP +and CC I-NP +financial-services NNS I-NP +hybrid JJ I-NP +whose WP$ B-NP +price-earnings JJ I-NP +ratio NN I-NP +may MD O +more RBR B-ADVP +closely RB I-ADVP +reflect VB B-VP +the DT B-NP +lower-growth JJ I-NP +tobacco NN I-NP +business NN I-NP +than IN B-PP +the DT B-NP +higher-multiple JJ I-NP +financial-services NNS I-NP +business NN I-NP +, , O +these DT B-NP +holders NNS I-NP +believe VBP B-VP +. . O + +Thus RB B-ADVP +B.A.T NNP B-NP +'s POS B-NP +restructuring NN I-NP +may MD B-VP +only RB I-VP +make VB I-VP +the DT B-NP +company NN I-NP +a DT B-NP +more RBR I-NP +manageable JJ I-NP +target NN I-NP +for IN B-PP +other JJ B-NP +corporate JJ I-NP +predators NNS I-NP +-- : O +possibly RB B-ADVP +such JJ B-NP +acquisitive JJ I-NP +bidders NNS I-NP +as IN B-PP +Hanson NNP B-NP +PLC NNP I-NP +. . O + +`` `` O +The DT B-NP +last JJ I-NP +few JJ I-NP +days NNS I-NP +will MD B-VP +surely RB I-VP +slow JJ I-VP +down RP B-PRT +the DT B-NP +pace NN I-NP +of IN B-PP +events NNS B-NP +, , O +'' '' O +says VBZ B-VP +Scottish NNP B-NP +Amicable NNP I-NP +'s POS B-NP +Mr. NNP I-NP +Gilchrist NNP I-NP +. . O + +`` `` O +But CC O +I PRP B-NP +would MD B-VP +n't RB I-VP +write VB I-VP +off IN B-PRT +'' '' O +Sir NNP B-NP +James NNP I-NP +or CC O +other JJ B-NP +potential JJ I-NP +bidders NNS I-NP +. . O + +Among IN B-PP +possible JJ B-NP +delays NNS I-NP +, , O +the DT B-NP +sales NNS I-NP +of IN B-PP +Saks NNP B-NP +and CC O +Marshall NNP B-NP +Field NNP I-NP +-- : O +which WDT B-NP +were VBD B-VP +expected VBN I-VP +to TO I-VP +be VB I-VP +on IN B-PP +the DT B-NP +block NN I-NP +soon RB B-ADVP +after IN B-PP +the DT B-NP +crucial JJ I-NP +Christmas NNP I-NP +season NN I-NP +-- : O +may MD B-VP +slide VB I-VP +into IN B-PP +the DT B-NP +second JJ I-NP +quarter NN I-NP +or CC I-NP +second JJ I-NP +half NN I-NP +. . O + +Analysts NNS B-NP +estimate VBP B-VP +that IN B-SBAR +sales NNS B-NP +of IN B-PP +the DT B-NP +two CD I-NP +businesses NNS I-NP +could MD B-VP +raise VB I-VP +roughly RB B-NP +$ $ I-NP +2 CD I-NP +billion CD I-NP +. . O + +B.A.T NNP B-NP +is VBZ B-VP +n't RB I-VP +predicting VBG I-VP +a DT B-NP +postponement NN I-NP +because IN B-SBAR +the DT B-NP +units NNS I-NP +`` `` O +are VBP B-VP +quality NN B-NP +businesses NNS I-NP +and CC O +we PRP B-NP +are VBP B-VP +encouraged VBN I-VP +by IN B-PP +the DT B-NP +breadth NN I-NP +of IN B-PP +inquiries NNS B-NP +, , O +'' '' O +said VBD B-VP +Mr. NNP B-NP +Prideaux NNP I-NP +. . O + +But CC O +the DT B-NP +delay NN I-NP +could MD B-VP +happen VB I-VP +if IN B-SBAR +B.A.T NNP B-NP +does VBZ B-VP +n't RB I-VP +get VB I-VP +adequate JJ B-NP +bids NNS I-NP +, , O +he PRP B-NP +said VBD B-VP +. . O + +People NNS B-NP +familiar JJ B-ADJP +with IN B-PP +B.A.T NNP B-NP +say VBP B-VP +possible JJ B-NP +acquirers NNS I-NP +for IN B-PP +the DT B-NP +units NNS I-NP +include VBP B-VP +managers NNS B-NP +from IN B-PP +both DT B-NP +retailing NN I-NP +chains NNS I-NP +, , O +and CC O +General NNP B-NP +Cinema NNP I-NP +Corp. NNP I-NP +, , O +which WDT B-NP +is VBZ B-VP +interested JJ B-ADJP +in IN B-PP +bidding NN B-VP +for IN B-PP +Saks NNP B-NP +. . O + +Other JJ B-NP +potential JJ I-NP +bidders NNS I-NP +for IN B-PP +parts NNS B-NP +of IN B-PP +B.A.T NNP B-NP +'s POS B-NP +U.S. NNP I-NP +retail JJ I-NP +unit NN I-NP +include VBP B-VP +Dillard NNP B-NP +Department NNP I-NP +Stores NNP I-NP +Inc. NNP I-NP +, , O +May NNP B-NP +Department NNP I-NP +Stores NNP I-NP +Co. NNP I-NP +and CC O +Limited NNP B-NP +Inc NNP I-NP +. . O + +B.A.T NNP B-NP +has VBZ B-VP +declined VBN I-VP +to TO I-VP +identify VB I-VP +the DT B-NP +potential JJ I-NP +bidders NNS I-NP +. . O + +Though IN O +Sir NNP B-NP +James NNP I-NP +has VBZ B-VP +said VBD I-VP +he PRP B-NP +intends VBZ B-VP +to TO I-VP +mount VB I-VP +a DT B-NP +new JJ I-NP +bid NN I-NP +for IN B-PP +B.A.T NNP B-NP +once RB B-SBAR +approval NN B-NP +from IN B-PP +U.S. NNP B-NP +insurance NN I-NP +regulators NNS I-NP +is VBZ B-VP +received VBN I-VP +, , O +jitters NNS B-NP +over IN B-PP +prospects NNS B-NP +for IN B-PP +junk-bond NN B-NP +financing NN I-NP +and CC O +U.S. NNP B-NP +leverage NN I-NP +buy-outs NNS I-NP +are VBP B-VP +making VBG I-VP +investors NNS B-NP +more RBR B-ADJP +skeptical JJ I-ADJP +about IN B-PP +Sir NNP B-NP +James NNP I-NP +'s POS B-NP +prospects NNS I-NP +. . O + +His PRP$ B-NP +initial JJ I-NP +offer NN I-NP +indicated VBD B-VP +he PRP B-NP +needed VBD B-VP +to TO I-VP +raise VB I-VP +as RB B-NP +much JJ I-NP +as IN I-NP +80 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +takeover NN I-NP +financing NN I-NP +through IN B-PP +the DT B-NP +debt NN I-NP +markets NNS I-NP +. . O + +Market NN B-NP +uncertainty NN I-NP +also RB B-ADVP +clouds VBZ B-VP +the DT B-NP +outlook NN I-NP +for IN B-PP +B.A.T NNP B-NP +'s POS B-NP +attracting VBG B-VP +a DT B-NP +premium NN I-NP +price NN I-NP +for IN B-PP +its PRP$ B-NP +U.S. NNP I-NP +retailing NN I-NP +properties NNS I-NP +. . O + +Finally RB B-ADVP +, , O +Tuesday NNP B-NP +'s POS B-NP +California NNP I-NP +earthquake NN I-NP +initially RB B-ADVP +knocked VBD B-VP +3.7 CD B-NP +% NN I-NP +off IN B-PP +B.A.T NNP B-NP +'s POS B-NP +share NN I-NP +price NN I-NP +in IN B-PP +London NNP B-NP +yesterday NN B-NP +because IN B-PP +of IN I-PP +fears NNS B-NP +of IN B-PP +the DT B-NP +potential JJ I-NP +claims NNS I-NP +to TO B-PP +Los NNP B-NP +Angeles-based JJ I-NP +Farmers NNP I-NP +, , O +which WDT B-NP +has VBZ B-VP +a DT B-NP +substantial JJ I-NP +portion NN I-NP +of IN B-PP +its PRP$ B-NP +property NN I-NP +and CC I-NP +casualty NN I-NP +exposure NN I-NP +in IN B-PP +California NNP B-NP +. . O + +On IN B-PP +Farmers NNP B-NP +, , O +Mr. NNP B-NP +Prideaux NNP I-NP +said VBD B-VP +it PRP B-NP +is VBZ B-VP +too RB B-ADVP +early JJ I-ADVP +to TO B-VP +quantify VB I-VP +the DT B-NP +level NN I-NP +of IN B-PP +potential JJ B-NP +claims NNS I-NP +. . O + +He PRP B-NP +added VBD B-VP +B.A.T NNP B-NP +`` `` O +has VBZ B-VP +no DT B-NP +expectation NN I-NP +of IN B-PP +a DT B-NP +material NN I-NP +impact NN I-NP +on IN B-PP +Farmers NNP B-NP +. . O + +Bridge NNP B-NP +and CC I-NP +highway NN I-NP +collapses VBZ I-NP +will MD B-VP +disrupt VB I-VP +truck NN B-NP +and CC I-NP +auto NN I-NP +transportation NN I-NP +in IN B-PP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +Bay NNP I-NP +area NN I-NP +for IN B-PP +months NNS B-NP +to TO B-VP +come VB I-VP +. . O + +But CC O +rail NN B-NP +, , I-NP +air NN I-NP +and CC I-NP +ocean-shipping NN I-NP +links NNS I-NP +to TO B-PP +the DT B-NP +area NN I-NP +escaped VBD B-VP +Tuesday NNP B-NP +'s POS B-NP +earthquake NN I-NP +with IN B-PP +only RB B-NP +minor JJ I-NP +damage NN I-NP +, , O +and CC O +many JJ B-NP +are VBP B-VP +expected VBN I-VP +to TO I-VP +be VB I-VP +operating VBG I-VP +normally RB B-ADVP +today NN B-NP +, , O +government NN B-NP +and CC I-NP +corporate JJ I-NP +transport NN I-NP +officials NNS I-NP +said VBD B-VP +. . O + +Air NN B-NP +traffic NN I-NP +at IN B-PP +San NNP B-NP +Francisco NNP I-NP +International NNP I-NP +Airport NNP I-NP +was VBD B-VP +running VBG I-VP +about IN B-NP +50 CD I-NP +% NN I-NP +of IN B-PP +normal JJ B-NP +yesterday NN B-NP +afternoon NN I-NP +, , O +but CC O +airport NN B-NP +officals NNS I-NP +said VBD B-VP +they PRP B-NP +expect VBP B-VP +a DT B-NP +return NN I-NP +to TO B-PP +full JJ B-NP +operations NNS I-NP +by IN B-PP +Saturday NNP B-NP +. . O + +The DT B-NP +major JJ I-NP +gateway NN I-NP +to TO B-PP +Asia NNP B-NP +and CC O +one CD B-NP +of IN B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +10 CD I-NP +busiest JJS I-NP +airports NNS I-NP +was VBD B-VP +closed VBN I-VP +to TO B-PP +all DT B-NP +but CC O +emergency NN B-NP +traffic NN I-NP +from IN B-PP +the DT B-NP +time NN I-NP +the DT B-NP +quake NN I-NP +hit VBD B-VP +Tuesday NNP B-NP +afternoon NN I-NP +, , O +until IN B-PP +6 CD B-NP +a.m. NN I-NP +PDT NNP I-NP +yesterday NN I-NP +when WRB B-ADVP +controllers NNS B-NP +returned VBD B-VP +to TO B-PP +the DT B-NP +tower NN I-NP +. . O + +Getting VBG B-VP +to TO B-PP +and CC I-PP +from IN I-PP +the DT B-NP +airport NN I-NP +in IN B-PP +coming VBG B-NP +weeks NNS I-NP +may MD B-VP +be VB I-VP +the DT B-NP +problem NN I-NP +, , O +however RB B-ADVP +. . O + +`` `` O +People NNS B-NP +'s POS B-NP +ability NN I-NP +to TO B-VP +drive VB I-VP +throughout IN B-PP +the DT B-NP +bay NN I-NP +area NN I-NP +is VBZ B-VP +greatly RB I-VP +restricted VBN I-VP +, , O +'' '' O +said VBD B-VP +a DT B-NP +spokesman NN I-NP +for IN B-PP +the DT B-NP +American NNP I-NP +Automobile NNP I-NP +Association NNP I-NP +. . O + +Tom NNP B-NP +Schumacher NNP I-NP +, , O +executive JJ B-NP +vice NN I-NP +president NN I-NP +and CC O +general JJ B-NP +manager NN I-NP +of IN B-PP +the DT B-NP +California NNP I-NP +Trucking NNP I-NP +Association NNP I-NP +in IN B-PP +Sacremento NNP B-NP +, , O +said VBD B-VP +his PRP$ B-NP +organization NN I-NP +urged VBD B-VP +trucking NN B-NP +firms NNS I-NP +to TO B-VP +halt VB I-VP +all DT B-NP +deliveries NNS I-NP +into IN B-PP +the DT B-NP +Bay NNP I-NP +area NN I-NP +yesterday NN B-NP +, , O +except IN B-PP +for IN B-PP +emergency-medical JJ B-NP +supplies NNS I-NP +. . O + +`` `` O +Some DT B-NP +foodstuff NN I-NP +shipments NNS I-NP +will MD B-VP +probably RB I-VP +resume VB I-VP +Thursday NNP B-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +`` `` O +Right RB B-ADVP +now RB I-ADVP +most RBS B-NP +of IN B-PP +the DT B-NP +roads NNS I-NP +into IN B-PP +the DT B-NP +Bay NNP I-NP +area NN I-NP +are VBP B-VP +closed VBN I-VP +, , O +but CC O +the DT B-NP +list NN I-NP +of IN B-PP +closings NNS B-NP +changes NNS B-VP +about IN B-NP +every DT I-NP +20 CD I-NP +minutes NNS I-NP +. . O + +This DT B-NP +-LCB- ( O +Wednesday NNP O +-RCB- ) O +morning NN B-NP +the DT B-NP +San NNP I-NP +Mateo NNP I-NP +bridge NN I-NP +was VBD B-VP +open JJ B-ADJP +and CC O +now RB B-ADVP +we PRP B-NP +are VBP B-VP +informed VBN I-VP +that IN B-SBAR +it PRP B-NP +is VBZ B-VP +closed VBN B-ADJP +, , O +'' '' O +Mr. NNP B-NP +Schumacher NNP I-NP +said VBD B-VP +. . O + +United NNP B-NP +Parcel NNP I-NP +Service NNP I-NP +, , O +Greenwich NNP B-NP +, , O +Conn. NNP B-NP +, , O +said VBD B-VP +its PRP$ B-NP +operations NNS I-NP +in IN B-PP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +area NN I-NP +have VBP B-VP +been VBN I-VP +reduced VBN I-VP +to TO B-PP +40 CD B-NP +% NN I-NP +of IN B-PP +normal JJ B-NP +. . O + +A DT B-NP +UPS NNP I-NP +spokesman NN I-NP +said VBD B-VP +that IN B-SBAR +although IN B-SBAR +none NN B-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +terminals NNS I-NP +, , I-NP +trucks NNS I-NP +or CC I-NP +airplanes NNS I-NP +were VBD B-VP +damaged VBN I-VP +in IN B-PP +the DT B-NP +quake NN I-NP +, , O +road NN B-NP +shutdowns NNS I-NP +and CC O +power NN B-NP +failures NNS I-NP +have VBP B-VP +impeded VBN I-VP +its PRP$ B-NP +pickup NN I-NP +and CC I-NP +delivery NN I-NP +of IN B-PP +packages NNS B-NP +. . O + +The DT B-NP +spokesman NN I-NP +noted VBD B-VP +four-hour JJ B-NP +to TO I-NP +five-hour JJ I-NP +traffic NN I-NP +delays NNS I-NP +on IN B-PP +the DT B-NP +San NNP I-NP +Mateo NNP I-NP +bridge NN I-NP +, , O +for IN B-PP +example NN B-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +power NN B-NP +failures NNS I-NP +prevented VBD B-VP +its PRP$ B-NP +package-sorting NN I-NP +facilities NNS I-NP +from IN B-PP +operating VBG B-VP +, , O +causing VBG B-VP +delays NNS B-NP +. . O + +But CC O +freight NN B-NP +railroads NNS I-NP +reported VBD B-VP +that DT O +damage NN B-NP +to TO B-PP +their PRP$ B-NP +facilities NNS I-NP +was VBD B-VP +relatively RB B-ADJP +minor JJ I-ADJP +, , O +with IN B-SBAR +Santa NNP B-NP +Fe NNP I-NP +Pacific NNP I-NP +Corp. NNP I-NP +'s POS B-NP +rail NN I-NP +unit NN I-NP +the DT B-NP +least RBS I-NP +affected VBN I-NP +by IN B-PP +the DT B-NP +quake NN I-NP +. . O + +Santa NNP B-NP +Fe NNP I-NP +stopped VBD B-VP +freight NN B-NP +trains NNS I-NP +Tuesday NNP B-NP +night NN I-NP +while IN B-SBAR +its PRP$ B-NP +officials NNS I-NP +inspected VBD B-VP +track NN B-NP +but CC O +resumed VBD B-VP +service NN B-NP +at IN B-PP +10:45 CD B-NP +p.m. NN I-NP +when WRB B-ADVP +they PRP B-NP +found VBD B-VP +no DT B-NP +damage NN I-NP +. . O + +Union NNP B-NP +Pacific NNP I-NP +Corp. NNP I-NP +'s POS B-NP +rail NN I-NP +unit NN I-NP +said VBD B-VP +that IN B-SBAR +except IN B-PP +for IN B-PP +damage NN B-NP +to TO B-PP +shipping VBG B-NP +containers NNS I-NP +in IN B-PP +its PRP$ B-NP +Oakland NNP I-NP +yard NN I-NP +, , O +its PRP$ B-NP +track NN I-NP +, , I-NP +bridges NNS I-NP +and CC I-NP +structures NNS I-NP +were VBD B-VP +unharmed JJ B-ADJP +. . O + +That DT B-NP +railroad NN I-NP +is VBZ B-VP +operating VBG I-VP +trains NNS B-NP +but CC B-PP +with IN B-PP +delays NNS B-NP +caused VBN B-VP +by IN B-PP +employees NNS B-NP +unable JJ B-ADJP +to TO B-VP +get VB I-VP +to TO B-PP +work VB B-NP +. . O + +Southern NNP B-NP +Pacific NNP I-NP +Transportation NNP I-NP +Co. NNP I-NP +, , O +the DT B-NP +hardest JJS I-NP +hit VBD I-NP +of IN B-PP +the DT B-NP +three CD I-NP +railroads NNS I-NP +in IN B-PP +the DT B-NP +Bay NNP I-NP +area NN I-NP +, , O +said VBD B-VP +service NN B-NP +on IN B-PP +its PRP$ B-NP +north-south JJ I-NP +coastline NN I-NP +, , O +which WDT B-NP +is VBZ B-VP +used VBN I-VP +by IN B-PP +an DT B-NP +Amtrak NNP I-NP +train NN I-NP +between IN B-PP +Los NNP B-NP +Angeles NNP I-NP +and CC O +Seattle NNP B-NP +, , O +was VBD B-VP +suspended VBN I-VP +temporarily RB B-ADVP +because IN B-PP +of IN I-PP +kinked JJ B-NP +rails NNS I-NP +near IN B-PP +the DT B-NP +epicenter NN I-NP +of IN B-PP +the DT B-NP +quake NN I-NP +. . O + +But CC O +service NN B-NP +on IN B-PP +the DT B-NP +line NN I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +resume VB I-VP +by IN B-PP +noon NN B-NP +today NN B-NP +. . O + +`` `` O +We PRP B-NP +had VBD B-VP +no DT B-NP +serious JJ I-NP +damage NN I-NP +on IN B-PP +the DT B-NP +railroad NN I-NP +, , O +'' '' O +said VBD B-VP +a DT B-NP +Southern NNP I-NP +Pacific NNP I-NP +spokesman NN I-NP +. . O + +`` `` O +We PRP B-NP +have VBP B-VP +no DT B-NP +problem NN I-NP +to TO B-PP +our PRP$ B-NP +freight NN I-NP +service NN I-NP +at IN B-ADVP +all DT I-ADVP +expect VBP B-PP +for IN B-PP +the DT B-NP +fact NN I-NP +businesses NNS B-NP +are VBP B-VP +shut VBN I-VP +down RB B-PRT +. . O +'' '' O + +Amtrak NNP B-NP +said VBD B-VP +it PRP B-NP +suspended VBD B-VP +train NN B-NP +service NN I-NP +into IN B-PP +its PRP$ B-NP +Oakland NNP I-NP +station NN I-NP +, , O +which WDT B-NP +sustained VBD B-VP +`` `` O +heavy JJ B-NP +structural JJ I-NP +damage NN I-NP +'' '' O +during IN B-PP +the DT B-NP +quake NN I-NP +. . O + +The DT B-NP +passenger NN I-NP +railroad NN I-NP +said VBD B-VP +it PRP B-NP +terminated VBD B-VP +some DT B-NP +runs VBZ I-NP +in IN B-PP +Sacramento NNP B-NP +, , O +relying VBG B-VP +on IN B-PP +buses NNS B-NP +to TO B-VP +ferry VB I-VP +passengers NNS B-NP +to TO B-PP +the DT B-NP +Bay NNP I-NP +area NN I-NP +. . O + +Amtrak NNP B-NP +said VBD B-VP +it PRP B-NP +planned VBD B-VP +to TO I-VP +resume VB I-VP +some DT B-NP +train NN I-NP +operations NNS I-NP +to TO B-PP +Oakland NNP B-NP +late JJ B-NP +yesterday NN I-NP +. . O + +Rail-transit NN B-NP +operations NNS I-NP +suffered VBD B-VP +little JJ B-NP +damage NN I-NP +, , O +according VBG B-PP +to TO B-PP +Albert NNP B-NP +Engelken NNP I-NP +, , O +deputy NN B-NP +executive JJ I-NP +director NN I-NP +of IN B-PP +the DT B-NP +American NNP I-NP +Public NNP I-NP +Transit NNP I-NP +Association NNP I-NP +in IN B-PP +Washington NNP B-NP +. . O + +The DT B-NP +Bay NNP I-NP +Area NNP I-NP +Rapid NNP I-NP +Transit NNP I-NP +`` `` O +withstood VBD B-VP +the DT B-NP +earthquake NN I-NP +perfectly RB B-ADVP +, , O +'' '' O +said VBD B-VP +Mr. NNP B-NP +Engelken NNP I-NP +, , O +adding VBG B-VP +that IN B-SBAR +the DT B-NP +rail NN I-NP +system NN I-NP +was VBD B-VP +running VBG I-VP +a DT B-NP +full JJ I-NP +fleet NN I-NP +of IN B-PP +45 CD B-NP +trains NNS I-NP +during IN B-PP +the DT B-NP +day NN I-NP +to TO B-VP +provide VB I-VP +an DT B-NP +alternative NN I-NP +for IN B-PP +highway NN B-NP +travelers NNS I-NP +. . O + +`` `` O +The DT B-NP +highway NN I-NP +system NN I-NP +is VBZ B-VP +screwed VBN I-VP +up IN B-PRT +'' '' O +by IN B-PP +the DT B-NP +earthquake NN I-NP +, , O +Mr. NNP B-NP +Engelken NNP I-NP +said VBD B-VP +. . O + +`` `` O +The DT B-NP +transit NN I-NP +system NN I-NP +is VBZ B-VP +how WRB B-ADVP +people NNS B-NP +are VBP B-VP +going VBG I-VP +to TO I-VP +be VB I-VP +getting VBG I-VP +around IN B-ADVP +. . O +'' '' O + +He PRP B-NP +added VBD B-VP +that IN B-SBAR +San NNP B-NP +Francisco NNP I-NP +'s POS B-NP +trolley NN I-NP +cars NNS I-NP +and CC I-NP +trolley NN I-NP +buses NNS I-NP +were VBD B-VP +also RB I-VP +running VBG I-VP +at IN B-PP +full JJ B-NP +service NN I-NP +levels NNS I-NP +. . O + +Although IN B-SBAR +air-traffic NN B-NP +delays NNS I-NP +in IN B-PP +San NNP B-NP +Francisco NNP I-NP +were VBD B-VP +significant JJ B-ADJP +yesterday NN B-NP +, , O +they PRP B-NP +did VBD B-VP +n't RB I-VP +appear VB I-VP +to TO I-VP +spread VB I-VP +to TO B-PP +other JJ B-NP +airports NNS I-NP +. . O + +The DT B-NP +earthquake NN I-NP +shattered VBD B-VP +windows NNS B-NP +at IN B-PP +San NNP B-NP +Francisco NNP I-NP +International NNP I-NP +'s POS B-NP +air-traffic NN I-NP +control NN I-NP +tower NN I-NP +and CC O +rained VBD B-VP +pieces NNS B-NP +of IN B-PP +the DT B-NP +ceiling NN I-NP +down RB B-ADVP +on IN B-PP +controllers NNS B-NP +, , O +three CD B-NP +of IN B-PP +whom WP B-NP +suffered VBD B-VP +minor JJ B-NP +injuries NNS I-NP +. . O + +Terminals NNS B-NP +at IN B-PP +San NNP B-NP +Francisco NNP I-NP +International NNP I-NP +also RB B-ADVP +were VBD B-VP +damaged VBN I-VP +, , O +but CC O +the DT B-NP +tower NN I-NP +itself PRP B-NP +was VBD B-VP +intact JJ B-ADJP +. . O + +Tuesday NNP B-NP +night NN I-NP +, , O +thousands NNS B-NP +were VBD B-VP +diverted VBN I-VP +to TO B-PP +other JJ B-NP +airports NNS I-NP +and CC O +had VBD B-VP +to TO I-VP +wait VB I-VP +a DT B-NP +day NN I-NP +to TO B-VP +resume VB I-VP +travel NN B-NP +. . O + +Runways NNS B-NP +at IN B-PP +San NNP B-NP +Francisco NNP I-NP +were VBD B-VP +n't RB I-VP +damaged VBN I-VP +, , O +but CC O +traffic NN B-NP +was VBD B-VP +being VBG I-VP +limited JJ I-VP +yesterday NN B-NP +to TO B-PP +27 CD B-NP +arrivals NNS I-NP +and CC O +27 CD B-NP +departures NNS I-NP +an DT B-NP +hour NN I-NP +-- : O +down RB B-ADVP +from IN B-PP +33 CD B-NP +to TO I-NP +45 CD I-NP +an DT B-NP +hour NN I-NP +normally RB B-ADVP +-- : O +mainly RB B-ADVP +because IN B-SBAR +the DT B-NP +noise NN I-NP +level NN I-NP +in IN B-PP +the DT B-NP +control NN I-NP +tower NN I-NP +was VBD B-VP +overwhelming JJ B-ADJP +without IN B-PP +the DT B-NP +windows NNS I-NP +, , O +an DT B-NP +FAA NNP I-NP +spokeswoman NN I-NP +said VBD B-VP +. . O + +While IN B-SBAR +the DT B-NP +airport NN I-NP +was VBD B-VP +closed VBN B-ADJP +, , O +flights NNS B-NP +were VBD B-VP +diverted VBN I-VP +to TO B-PP +airports NNS B-NP +in IN B-PP +Sacramento NNP B-NP +and CC I-NP +Stockton NNP I-NP +, , O +Calif. NNP B-NP +; : O +Reno NNP B-NP +and CC O +Las NNP B-NP +Vegas NNP I-NP +, , O +Nev. NNP B-NP +; : O +and CC O +Los NNP B-NP +Angeles NNP I-NP +. . O + +United NNP B-NP +Airlines NNPS I-NP +, , O +the DT B-NP +largest JJS I-NP +carrier NN I-NP +at IN B-PP +San NNP B-NP +Francisco NNP I-NP +, , O +was VBD B-VP +operating VBG I-VP +only RB B-NP +50 CD I-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +scheduled VBN I-NP +service NN I-NP +in IN B-PP +and CC I-PP +out IN I-PP +of IN B-PP +the DT B-NP +area NN I-NP +because IN B-PP +of IN I-PP +damage NN B-NP +to TO B-PP +its PRP$ B-NP +terminal NN I-NP +, , O +which WDT B-NP +in IN B-PP +turn NN B-NP +was VBD B-VP +causing VBG I-VP +delays NNS B-NP +for IN B-PP +travelers NNS B-NP +headed VBN B-VP +to TO B-PP +the DT B-NP +Bay NNP I-NP +area NN I-NP +. . O + +A DT B-NP +United NNP I-NP +spokesman NN I-NP +said VBD B-VP +14 CD B-NP +of IN B-PP +its PRP$ B-NP +21 CD I-NP +gates NNS I-NP +were VBD B-VP +unusable JJ B-ADJP +, , O +mainly RB B-ADVP +because IN B-PP +of IN I-PP +water NN B-NP +damage NN I-NP +caused VBN B-VP +when WRB B-ADVP +a DT B-NP +sprinkler NN I-NP +system NN I-NP +was VBD B-VP +triggered VBN I-VP +by IN B-PP +the DT B-NP +tremors NNS I-NP +. . O + +The DT B-NP +United NNP I-NP +spokesman NN I-NP +said VBD B-VP +none NN B-NP +of IN B-PP +its PRP$ B-NP +people NNS I-NP +were VBD B-VP +injured VBN I-VP +at IN B-PP +the DT B-NP +airport NN I-NP +; : O +in IN B-PP +fact NN B-NP +, , O +as IN B-SBAR +the DT B-NP +airport NN I-NP +was VBD B-VP +being VBG I-VP +evacuated VBN I-VP +Tuesday NNP B-NP +night NN I-NP +, , O +two CD B-NP +babies NNS I-NP +were VBD B-VP +born VBN I-VP +. . O + +Yesterday NN B-NP +, , O +the DT B-NP +United NNP I-NP +ticket NN I-NP +counter NN I-NP +was VBD B-VP +active JJ B-ADJP +, , O +with IN B-PP +people NNS B-NP +trying VBG B-VP +to TO I-VP +get VB I-VP +flights NNS B-NP +out IN B-ADJP +, , O +but CC O +the DT B-NP +airline NN I-NP +said VBD B-VP +demand NN B-NP +for IN B-PP +seats NNS B-NP +into IN B-PP +the DT B-NP +city NN I-NP +also RB B-ADVP +was VBD B-VP +active JJ B-ADJP +, , O +with IN B-PP +people NNS B-NP +trying VBG B-VP +to TO I-VP +get VB I-VP +there EX B-ADVP +to TO B-VP +help VB I-VP +family NN B-NP +and CC I-NP +friends NNS I-NP +. . O + +The DT B-NP +airports NNS I-NP +in IN B-PP +San NNP B-NP +Jose NNP I-NP +and CC O +Oakland NNP B-NP +were VBD B-VP +both DT O +fully RB B-ADJP +operational JJ I-ADJP +by IN B-PP +noon NN B-NP +yesterday NN B-NP +, , O +the DT B-NP +Federal NNP I-NP +Aviation NNP I-NP +Administration NNP I-NP +said VBD B-VP +. . O + +In IN B-PP +terms NNS B-NP +of IN B-PP +diversions NNS B-NP +, , O +Denver NNP B-NP +'s POS B-NP +Stapleton NNP I-NP +International NNP I-NP +may MD B-VP +have VB I-VP +experienced VBN I-VP +the DT B-NP +most RBS I-NP +far-flung JJ I-NP +: : O +A DT B-NP +United NNP I-NP +flight NN I-NP +from IN B-PP +Japan NNP B-NP +was VBD B-VP +rerouted VBN I-VP +there RB B-ADVP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +that DT B-NP +'s VBZ B-VP +the DT B-NP +first JJ I-NP +nonstop JJ I-NP +commercial JJ I-NP +passenger NN I-NP +flight NN I-NP +from IN B-PP +Japan NNP B-NP +to TO B-VP +land VB I-VP +here RB B-ADVP +, , O +'' '' O +an DT B-NP +airport NN I-NP +spokesman NN I-NP +said VBD B-VP +. . O + +A DT B-NP +Japan NNP I-NP +Air NNP I-NP +Lines NNPS I-NP +spokesman NN I-NP +said VBD B-VP +its PRP$ B-NP +flights NNS I-NP +into IN B-PP +and CC B-PP +out IN B-PP +of IN B-PP +San NNP B-NP +Francisco NNP I-NP +were VBD B-VP +n't RB I-VP +affected VBN I-VP +, , O +but CC O +getting VBG B-VP +information NN B-NP +about IN B-PP +its PRP$ B-NP +operations NNS I-NP +was VBD B-VP +difficult JJ B-ADJP +. . O + +Its PRP$ B-NP +telecommunications NNS I-NP +headquarters NN I-NP +in IN B-PP +Burlingame NNP B-NP +, , O +Calif. NNP B-NP +, , O +had VBD B-VP +been VBN I-VP +knocked VBN I-VP +out IN B-PRT +since IN B-PP +the DT B-NP +quake NN I-NP +. . O + +`` `` O +We PRP B-NP +'re VBP B-VP +in IN B-PP +the DT B-NP +dark NN I-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +Whitbread NNP B-NP +& CC I-NP +Co. NNP I-NP +put VB B-VP +its PRP$ B-NP +spirits NNS I-NP +division NN I-NP +up IN B-ADVP +for IN B-PP +sale NN B-NP +, , O +triggering VBG B-VP +a DT B-NP +scramble NN I-NP +among IN B-PP +global JJ B-NP +groups NNS I-NP +for IN B-PP +the DT B-NP +British JJ I-NP +company NN I-NP +'s POS B-NP +brands NNS I-NP +. . O + +Whitbread NNP B-NP +already RB B-ADVP +has VBZ B-VP +been VBN I-VP +approached VBN I-VP +by IN B-PP +`` `` B-NP +about IN I-NP +half PDT I-NP +a DT I-NP +dozen NN I-NP +'' '' I-NP +companies NNS I-NP +interested JJ B-ADJP +in IN B-PP +buying VBG B-VP +all DT B-NP +or CC I-NP +part NN I-NP +of IN B-PP +the DT B-NP +spirits NNS I-NP +business NN I-NP +, , O +a DT B-NP +spokesman NN I-NP +said VBD B-VP +. . O + +Analysts NNS B-NP +expect VBP B-VP +the DT B-NP +spirits NNS I-NP +operations NNS I-NP +and CC O +some DT B-NP +California NNP I-NP +vineyards NNS I-NP +that IN B-NP +also RB B-ADVP +are VBP B-VP +being VBG I-VP +sold VBN I-VP +to TO B-VP +fetch VB I-VP +about IN B-NP +# # I-NP +500 CD I-NP +million CD I-NP +-LRB- ( O +$ $ B-NP +788.8 CD I-NP +million CD I-NP +-RRB- ) O +. . O + +Among IN B-PP +the DT B-NP +brands NNS I-NP +for IN B-PP +sale NN B-NP +are VBP B-VP +Beefeater NNP B-NP +gin NN I-NP +, , O +the DT B-NP +No. NN I-NP +2 CD I-NP +imported VBN I-NP +gin NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +, , O +and CC O +Laphroaig NNP B-NP +single-malt JJ I-NP +whiskey NN I-NP +. . O + +Also RB B-ADVP +for IN B-PP +sale NN B-NP +are VBP B-VP +Buckingham NNP B-NP +Wile NNP I-NP +Co. NNP I-NP +, , O +which WDT B-NP +distributes VBZ B-VP +Cutty NNP B-NP +Sark NNP I-NP +blended JJ I-NP +whiskey NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +, , O +and CC O +Whitbread NNP B-NP +'s POS B-NP +Atlas NNP I-NP +Peak NNP I-NP +Vineyards NNS I-NP +in IN B-PP +California NNP B-NP +'s POS B-NP +Napa NNP I-NP +Valley NNP I-NP +. . O + +Beefeater NNP B-NP +alone RB B-ADVP +is VBZ B-VP +worth JJ B-ADJP +as RB B-NP +much JJ I-NP +as IN I-NP +# # I-NP +300 CD I-NP +million CD I-NP +, , O +analysts NNS B-NP +said VBD B-VP +. . O + +Whitbread NNP B-NP +bought VBD B-VP +the DT B-NP +Beefeater NNP I-NP +distillery NN I-NP +two CD B-NP +years NNS I-NP +ago RB B-ADVP +for IN B-PP +# # B-NP +174.5 CD I-NP +million CD I-NP +. . O + +That DT B-NP +purchase NN I-NP +represented VBD B-VP +an DT B-NP +attempt NN I-NP +by IN B-PP +Whitbread NNP B-NP +, , O +a DT B-NP +venerable JJ I-NP +British JJ I-NP +brewer NN I-NP +, , O +to TO B-VP +become VB I-VP +a DT B-NP +major JJ I-NP +player NN I-NP +in IN B-PP +the DT B-NP +global JJ I-NP +liquor NN I-NP +business NN I-NP +. . O + +But CC O +Whitbread NNP B-NP +has VBZ B-VP +been VBN I-VP +squeezed VBN I-VP +by IN B-PP +giant NN B-NP +rivals NNS I-NP +amid IN B-PP +widespread JJ B-NP +consolidation NN I-NP +in IN B-PP +the DT B-NP +industry NN I-NP +. . O + +Now RB B-ADVP +, , O +it PRP B-NP +wants VBZ B-VP +to TO I-VP +concentrate VB I-VP +on IN B-PP +beer NN B-NP +and CC O +its PRP$ B-NP +newer JJR I-NP +hotel NN I-NP +and CC I-NP +restaurant NN I-NP +operations NNS I-NP +. . O + +For IN B-PP +rival JJ B-NP +liquor NN I-NP +companies NNS I-NP +, , O +the DT B-NP +Whitbread NNP I-NP +auction NN I-NP +is VBZ B-VP +a DT B-NP +rare JJ I-NP +opportunity NN I-NP +to TO B-VP +acquire VB I-VP +valuable JJ B-NP +brands NNS I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +not RB O +very RB B-ADVP +often RB I-ADVP +something NN B-NP +like IN B-PP +this DT B-NP +comes VBZ B-VP +up IN B-PRT +, , O +'' '' O +said VBD B-VP +Ron NNP B-NP +Littleboy NNP I-NP +, , O +a DT B-NP +liquor NN I-NP +company NN I-NP +analyst NN I-NP +at IN B-PP +Nomura NNP B-NP +Research NNP I-NP +Institute NNP I-NP +in IN B-PP +London NNP B-NP +. . O + +`` `` O +The DT B-NP +division NN I-NP +will MD B-VP +be VB I-VP +sold VBN I-VP +off IN B-PRT +quite RB B-ADVP +rapidly RB I-ADVP +, , O +'' '' O +predicted VBD B-VP +Neill NNP B-NP +Junor NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +at IN B-PP +London NNP B-NP +brokers NNS I-NP +County NNP I-NP +NatWest NNP I-NP +WoodMac NNP I-NP +. . O + +Among IN B-PP +possible JJ B-NP +buyers NNS I-NP +, , O +Grand NNP B-NP +Metropolitan NNP I-NP +PLC NNP I-NP +might MD B-VP +find VB I-VP +Beefeater NNP B-NP +a DT B-NP +useful JJ I-NP +addition NN I-NP +to TO B-PP +its PRP$ B-NP +portfolio NN I-NP +. . O + +Grand NNP B-NP +Met NNP I-NP +owns VBZ B-VP +Bombay NNP B-NP +gin NN I-NP +, , O +the DT B-NP +No. NN I-NP +3 CD I-NP +imported VBN I-NP +gin NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +; : O +rival JJ B-NP +Guinness NNP I-NP +PLC NNP I-NP +has VBZ B-VP +the DT B-NP +No. NN I-NP +1 CD I-NP +imported VBN I-NP +brand NN I-NP +, , O +Tanqueray NNP B-NP +. . O + +The DT B-NP +Whitbread NNP I-NP +spirits NNS I-NP +auction NN I-NP +`` `` O +is VBZ B-VP +an DT B-NP +extremely RB I-NP +interesting JJ I-NP +development NN I-NP +... : O +and CC O +naturally RB B-ADVP +we PRP B-NP +'ll MD B-VP +be VB I-VP +considering VBG I-VP +it PRP B-NP +carefully RB B-ADVP +, , O +'' '' O +a DT B-NP +Grand NNP I-NP +Met NNP I-NP +spokesman NN I-NP +said VBD B-VP +. . O + +Guinness NNP B-NP +, , O +which WDT B-NP +owns VBZ B-VP +several JJ B-NP +leading NN I-NP +whiskey NN I-NP +brands NNS I-NP +plus CC O +Gordon NNP B-NP +'s POS B-NP +gin NN I-NP +, , O +the DT B-NP +world NN I-NP +'s POS B-NP +No. NN I-NP +1 CD I-NP +gin NN I-NP +, , O +is VBZ B-VP +considered VBN I-VP +less RBR B-ADJP +likely JJ I-ADJP +to TO B-VP +bid VB I-VP +for IN B-PP +the DT B-NP +Whitbread NNP I-NP +spirits NNS I-NP +. . O + +A DT B-NP +Guinness NNP I-NP +spokesman NN I-NP +declined VBD B-VP +to TO I-VP +comment VB I-VP +. . O + +Two CD B-NP +other JJ I-NP +global JJ I-NP +liquor NN I-NP +giants NNS I-NP +, , O +Canada NNP B-NP +'s POS B-NP +Seagram NNP I-NP +Co. NNP I-NP +and CC O +Britain NNP B-NP +'s POS B-NP +Allied-Lyons NNP I-NP +PLC NNP I-NP +, , O +also RB B-ADVP +are VBP B-VP +possible JJ B-NP +buyers NNS I-NP +. . O + +Seagram NNP B-NP +'s POS B-NP +gin NN I-NP +is VBZ B-VP +the DT B-NP +world NN I-NP +'s POS B-NP +No. NN I-NP +2 CD I-NP +gin NN I-NP +brand NN I-NP +, , O +but CC O +the DT B-NP +company NN I-NP +does VBZ B-VP +n't RB I-VP +own VB I-VP +any DT B-NP +of IN B-PP +the DT B-NP +major JJ I-NP +gin NN I-NP +brands NNS I-NP +imported VBN B-VP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +. . O + +Allied-Lyons NNP B-NP +, , O +while IN B-SBAR +powerful JJ B-ADJP +in IN B-PP +whiskey NN B-NP +, , O +does VBZ B-VP +n't RB I-VP +own VB I-VP +any DT B-NP +major JJ I-NP +white-spirit NN I-NP +brands NNS I-NP +. . O + +`` `` O +We PRP B-NP +will MD B-VP +certainly RB I-VP +have VB I-VP +to TO I-VP +take VB I-VP +a DT B-NP +look NN I-NP +at IN B-PP +'' '' O +the DT B-NP +Whitbread NNP I-NP +spirits NNS I-NP +business NN I-NP +, , O +an DT B-NP +Allied-Lyons NNP I-NP +spokesman NN I-NP +said VBD B-VP +. . O + +`` `` O +We PRP B-NP +would MD B-VP +certainly RB I-VP +like VB I-VP +to TO I-VP +have VB I-VP +a DT B-NP +major JJ I-NP +white-spirits JJ I-NP +brand NN I-NP +in IN B-PP +our PRP$ B-NP +portfolio NN I-NP +. . O +'' '' O + +A DT B-NP +Seagram NNP I-NP +spokesman NN I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +would MD B-VP +n't RB I-VP +comment VB I-VP +. . O + +Smaller JJR B-NP +liquor NN I-NP +companies NNS I-NP +, , O +such JJ B-PP +as IN I-PP +Brown-Forman NNP B-NP +Corp. NNP I-NP +and CC O +American NNP B-NP +Brands NNP I-NP +Inc. NNP I-NP +of IN B-PP +the DT B-NP +U.S. NNP I-NP +, , O +also RB B-ADVP +are VBP B-VP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +interested JJ B-ADJP +. . O + +Such JJ B-NP +companies NNS I-NP +`` `` O +are VBP B-VP +increasingly RB I-VP +being VBG I-VP +left VBN O +behind IN B-ADVP +'' '' O +in IN B-PP +the DT B-NP +global JJ I-NP +liquor NN I-NP +business NN I-NP +, , O +says VBZ B-VP +Nomura NNP B-NP +'s POS B-NP +Mr. NNP I-NP +Littleboy NNP I-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +, , O +a DT B-NP +spokesman NN I-NP +for IN B-PP +American NNP B-NP +Brands NNP I-NP +would MD B-VP +n't RB I-VP +comment VB I-VP +. . O + +Brown-Forman NNP B-NP +, , O +a DT B-NP +Louisville NNP I-NP +, , I-NP +Ky. NNP I-NP +distiller NN I-NP +, , O +also RB B-ADVP +declined VBD B-VP +to TO I-VP +comment VB I-VP +. . O + +Whitbread NNP B-NP +'s POS B-NP +wine NN B-UCP +, , I-UCP +spirits NNS I-UCP +and CC I-UCP +soft-drink NN I-UCP +operations NNS B-NP +had VBD B-VP +trading NN B-NP +profit NN I-NP +of IN B-PP +# # B-NP +35.4 CD I-NP +million CD I-NP +on IN B-PP +sales NNS B-NP +of IN B-PP +# # B-NP +315.5 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +year NN I-NP +ended VBN B-VP +Feb. NNP B-NP +25 CD I-NP +. . O + +The DT B-NP +company NN I-NP +, , O +which WDT B-NP +is VBZ B-VP +retaining VBG I-VP +most RBS B-NP +of IN B-PP +its PRP$ B-NP +wine NN I-NP +and CC O +all DT B-NP +of IN B-PP +its PRP$ B-NP +soft-drink NN I-NP +interests NNS B-NP +, , O +did VBD B-VP +n't RB I-VP +break VB I-VP +out RP B-PRT +results NNS B-NP +for IN B-PP +the DT B-NP +businesses NNS I-NP +it PRP B-NP +plans VBZ B-VP +to TO I-VP +sell VB I-VP +. . O + +But CC O +analysts NNS B-NP +estimate VBP B-VP +their PRP$ B-NP +trading NN I-NP +profit NN I-NP +at IN B-PP +# # B-NP +30 CD I-NP +million CD I-NP +. . O + +Whitbread NNP B-NP +had VBD B-VP +total JJ B-NP +pretax JJ I-NP +profit NN I-NP +in IN B-PP +the DT B-NP +year NN I-NP +ended VBN B-VP +Feb. NNP B-NP +25 CD I-NP +of IN B-PP +# # B-NP +223.2 CD I-NP +million CD I-NP +, , O +on IN B-PP +sales NNS B-NP +of IN B-PP +# # B-NP +2.26 CD I-NP +billion CD I-NP +. . O + +Whitbread NNP B-NP +'s POS B-NP +spirits NNS I-NP +auction NN I-NP +occurs VBZ B-VP +amid IN B-PP +a DT B-NP +parallel JJ I-NP +shakeup NN I-NP +in IN B-PP +the DT B-NP +British JJ I-NP +beer NN I-NP +industry NN I-NP +. . O + +Earlier RBR B-NP +this DT I-NP +year NN I-NP +, , O +the DT B-NP +government NN I-NP +announced VBD B-VP +plans NNS B-NP +to TO B-VP +foster VB I-VP +increased VBN B-NP +competition NN I-NP +in IN B-PP +the DT B-NP +industry NN I-NP +. . O + +British JJ B-NP +brewers NNS I-NP +currently RB B-ADVP +own JJ B-VP +thousands NNS B-NP +of IN B-PP +pubs NNS B-NP +, , O +which WDT B-NP +in IN B-PP +turn NN B-NP +sell NN B-VP +only RB B-ADVP +the DT B-NP +breweries NNS I-NP +' POS B-NP +beer NN I-NP +and CC I-NP +soft JJ I-NP +drinks NNS I-NP +. . O + +Under IN B-PP +new JJ B-NP +rules NNS I-NP +, , O +many NN B-NP +of IN B-PP +the DT B-NP +country NN I-NP +'s POS B-NP +pubs NNS I-NP +would MD B-VP +become VB I-VP +`` `` O +free JJ B-NP +houses NNS I-NP +, , O +'' '' O +selling VBG B-VP +beers NNS B-NP +of IN B-PP +their PRP$ B-NP +choice NN I-NP +. . O + +Whitbread NNP B-NP +now RB B-ADVP +intends VBZ B-VP +to TO I-VP +bolster VB I-VP +its PRP$ B-NP +brewing NN I-NP +interests NNS I-NP +, , O +in IN B-PP +an DT B-NP +effort NN I-NP +to TO B-VP +grab VB I-VP +a DT B-NP +share NN I-NP +of IN B-PP +sales NNS B-NP +to TO B-PP +free VB B-NP +houses NNS I-NP +. . O + +The DT B-NP +company NN I-NP +, , O +which WDT B-NP +last JJ B-NP +month NN I-NP +paid VBN B-VP +# # B-NP +50.7 CD I-NP +million CD I-NP +for IN B-PP +regional JJ B-NP +British JJ I-NP +brewer NN I-NP +Boddington NNP I-NP +Group NNP I-NP +PLC NNP I-NP +, , O +has VBZ B-VP +about IN B-NP +13 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +British JJ I-NP +beer NN I-NP +market NN I-NP +. . O + +Whitbread NNP B-NP +also RB B-ADVP +owns VBZ B-VP +the DT B-NP +license NN I-NP +to TO B-VP +brew VB I-VP +and CC I-VP +distribute VB I-VP +Heineken NNP B-NP +and CC O +Stella NNP B-NP +Artois NNP I-NP +beers NNS I-NP +in IN B-PP +Britain NNP B-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +Whitbread NNP B-NP +intends VBZ B-VP +to TO I-VP +focus VB I-VP +on IN B-PP +its PRP$ B-NP +newer JJR I-NP +hotel NN I-NP +, , I-NP +liquor NN I-NP +store NN I-NP +and CC I-NP +restaurant NN I-NP +businesses NNS I-NP +in IN B-PP +Europe NNP B-NP +and CC O +North NNP B-NP +America NNP I-NP +. . O + +In IN B-PP +Britain NNP B-NP +, , O +those DT B-NP +interests NNS I-NP +include VBP B-VP +the DT B-NP +Beefeater NNP I-NP +steakhouse NN I-NP +chain NN I-NP +and CC O +joint JJ B-NP +ownership NN I-NP +with IN B-PP +PepsiCo NNP B-NP +Inc. NNP I-NP +of IN B-PP +the DT B-NP +country NN I-NP +'s POS B-NP +Pizza NNP I-NP +Hut NNP I-NP +chain NN I-NP +. . O + +In IN B-PP +Canada NNP B-NP +and CC O +the DT B-NP +U.S. NNP I-NP +, , O +Whitbread NNP B-NP +owns VBZ B-VP +The DT B-NP +Keg NNP I-NP +chain NN I-NP +of IN B-PP +steak NN B-NP +and CC I-NP +seafood NN I-NP +restaurants NNS I-NP +. . O + +Focusing VBG B-VP +on IN B-PP +beer NN B-NP +, , I-NP +restaurants NNS I-NP +and CC I-NP +hotels NNS I-NP +means VBZ B-VP +`` `` O +we PRP B-NP +can MD B-VP +concentrate VB I-VP +our PRP$ B-NP +skills NNS I-NP +and CC I-NP +resources NNS I-NP +more RBR B-ADVP +effectively RB I-ADVP +, , O +'' '' O +Peter NNP B-NP +Jarvis NNP I-NP +, , O +Whitbread NNP B-NP +'s POS B-NP +managing VBG I-NP +director NN I-NP +, , O +said VBD B-VP +in IN B-PP +a DT B-NP +statement NN I-NP +. . O + +The DT B-NP +spirits NNS I-NP +business NN I-NP +`` `` O +would MD B-VP +require VB I-VP +substantial JJ B-NP +additional JJ I-NP +investment NN I-NP +to TO B-VP +enable VB I-VP +it PRP B-NP +to TO B-VP +compete VB I-VP +effectively RB B-ADVP +in IN B-PP +the DT B-NP +first JJ I-NP +division NN I-NP +of IN B-PP +global JJ B-NP +players NNS I-NP +. . O +'' '' O + +Whitbread NNP B-NP +also RB B-ADVP +announced VBD B-VP +that IN B-SBAR +Mr. NNP B-NP +Jarvis NNP I-NP +, , O +who WP B-NP +is VBZ B-VP +48 CD B-NP +, , O +will MD B-VP +become VB I-VP +the DT B-NP +company NN I-NP +'s POS B-NP +chief JJ I-NP +executive NN I-NP +March NNP B-NP +1 CD I-NP +. . O + +At IN B-PP +that DT B-NP +time NN I-NP +Sam NNP B-NP +Whitbread NNP I-NP +, , O +the DT B-NP +company NN I-NP +'s POS B-NP +chairman NN I-NP +and CC O +a DT B-NP +descendant NN I-NP +of IN B-PP +its PRP$ B-NP +18th-century JJ I-NP +founder NN I-NP +, , O +will MD B-VP +retire VB I-VP +from IN B-PP +executive NN B-NP +duties NNS I-NP +. . O + +He PRP B-NP +will MD B-VP +retain VB I-VP +the DT B-NP +honorary JJ I-NP +title NN I-NP +of IN B-PP +non-executive JJ B-NP +chairman NN I-NP +. . O + +The DT B-NP +Treasury NNP I-NP +plans VBZ B-VP +to TO I-VP +raise VB I-VP +$ $ B-NP +700 CD I-NP +million CD I-NP +in IN B-PP +new JJ B-NP +cash NN I-NP +with IN B-PP +the DT B-NP +sale NN I-NP +Tuesday NNP B-NP +of IN B-PP +about RB B-NP +$ $ I-NP +10 CD I-NP +billion CD I-NP +in IN B-PP +two-year JJ B-NP +notes NNS I-NP +to TO B-VP +redeem VB I-VP +$ $ B-NP +9.29 CD I-NP +billion CD I-NP +in IN B-PP +maturing VBG B-NP +notes NNS I-NP +. . O + +The DT B-NP +offering NN I-NP +will MD B-VP +be VB I-VP +dated VBN I-VP +Oct. NNP B-NP +31 CD I-NP +and CC O +mature NNP B-VP +Oct. NNP B-NP +31 CD I-NP +, , O + +Tenders NNS B-NP +for IN B-PP +the DT B-NP +notes NNS I-NP +, , O +available JJ B-ADJP +in IN B-PP +minimum JJ B-NP +$ $ I-NP +5,000 CD I-NP +denominations NNS I-NP +, , O +must MD B-VP +be VB I-VP +received VBN I-VP +by IN B-PP +1 CD B-NP +p.m. NN I-NP +EDT NNP I-NP +Tuesday NNP B-NP +at IN B-PP +the DT B-NP +Treasury NNP I-NP +or CC B-PP +at IN B-PP +Federal NNP B-NP +Reserve NNP I-NP +banks NNS I-NP +or CC I-NP +branches NNS I-NP +. . O + +NEWHALL NNP B-NP +LAND NNP I-NP +& CC I-NP +FARMING NNP I-NP +Co. NNP I-NP +, , O +Valencia NNP B-NP +, , O +Calif. NNP B-NP +, , O +announced VBD B-VP +a DT B-NP +2-for-1 JJ I-NP +split NN I-NP +in IN B-PP +the DT B-NP +real JJ I-NP +estate NN I-NP +limited JJ I-NP +partnership NN I-NP +'s POS B-NP +units NNS I-NP +and CC O +increased VBN B-VP +its PRP$ B-NP +regular JJ I-NP +quarterly JJ I-NP +cash NN I-NP +distribution NN I-NP +33 CD B-NP +% NN I-NP +, , O +to TO B-PP +40 CD B-NP +cents NNS I-NP +a DT B-NP +unit NN I-NP +. . O + +The DT B-NP +real JJ I-NP +estate NN I-NP +limited JJ I-NP +partnership NN I-NP +also RB B-ADVP +said VBD B-VP +it PRP B-NP +will MD B-VP +pay VB I-VP +a DT B-NP +special JJ I-NP +year-end NN I-NP +cash NN I-NP +distribution NN I-NP +of IN B-PP +10 CD B-NP +cents NNS I-NP +a DT B-NP +unit NN I-NP +. . O + +Both DT B-NP +distributions NNS I-NP +are VBP B-VP +payable JJ B-ADJP +Dec. NNP B-NP +4 CD I-NP +to TO B-PP +limited JJ B-NP +partners NNS I-NP +of IN B-PP +record NN B-NP +Nov. NNP B-NP +3 CD I-NP +. . O + +Mellon NNP B-NP +Bank NNP I-NP +Corp. NNP I-NP +said VBD B-VP +directors NNS B-NP +authorized VBD B-VP +the DT B-NP +buy-back NN I-NP +of IN B-PP +as RB B-NP +many JJ I-NP +as IN I-NP +250,000 CD I-NP +common JJ I-NP +shares NNS I-NP +. . O + +The DT B-NP +bank NN I-NP +holding VBG I-NP +company NN I-NP +said VBD B-VP +stock NN B-NP +repurchased VBN B-VP +will MD B-VP +be VB I-VP +used VBN I-VP +to TO B-VP +meet VB I-VP +requirements NNS B-NP +for IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +benefit NN I-NP +plans NNS I-NP +. . O + +Mellon NNP B-NP +has VBZ B-VP +36.6 CD B-NP +million CD I-NP +shares NNS I-NP +outstanding JJ B-ADJP +. . O + +Champion NNP B-NP +International NNP I-NP +Corp. NNP I-NP +'s POS B-NP +third-quarter JJ I-NP +profit NN I-NP +dropped VBD B-VP +17 CD B-NP +% NN I-NP +, , O +reflecting VBG B-VP +price NN B-NP +declines NNS I-NP +for IN B-PP +certain JJ B-NP +paper NN I-NP +products NNS I-NP +, , O +operating VBG B-NP +problems NNS I-NP +at IN B-PP +certain JJ B-NP +mills NNS I-NP +, , O +and CC O +other JJ B-NP +factors NNS I-NP +. . O + +The DT B-NP +paper NN I-NP +producer NN I-NP +reported VBD B-VP +that IN B-NP +net JJ I-NP +income NN I-NP +fell VBD B-VP +to TO B-PP +$ $ B-NP +102.1 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.09 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +122.4 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.29 CD I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +the DT B-NP +year-earlier JJ I-NP +period NN I-NP +. . O + +Sales NNS B-NP +rose VBD B-VP +2.6 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +1.32 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +1.29 CD I-NP +billion CD I-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +, , O +Champion NNP B-NP +'s POS B-NP +shares NNS I-NP +rose VBD B-VP +25 CD B-NP +cents NNS I-NP +to TO B-PP +$ $ B-NP +32.125 CD I-NP +. . O + +Digital NNP B-NP +Equipment NNP I-NP +Corp. NNP I-NP +is VBZ B-VP +planning VBG I-VP +a DT B-NP +big JJ I-NP +coming-out JJ I-NP +party NN I-NP +on IN B-PP +Tuesday NNP B-NP +for IN B-PP +its PRP$ B-NP +first JJ I-NP +line NN I-NP +of IN B-PP +mainframe NN B-NP +computers NNS I-NP +. . O + +But CC O +an DT B-NP +uninvited JJ I-NP +guest NN I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +try VB I-VP +to TO I-VP +crash VB I-VP +the DT B-NP +party NN I-NP +. . O + +On IN B-PP +the DT B-NP +morning NN I-NP +of IN B-PP +the DT B-NP +long-planned JJ I-NP +announcement NN I-NP +, , O +International NNP B-NP +Business NNP I-NP +Machines NNP I-NP +Corp. NNP I-NP +is VBZ B-VP +to TO I-VP +introduce VB I-VP +its PRP$ B-NP +own JJ I-NP +new JJ I-NP +mainframe NN I-NP +. . O + +`` `` O +Their PRP$ B-NP +attitude NN I-NP +is VBZ B-VP +, , O +` `` O +You PRP B-NP +want VBP B-VP +to TO I-VP +talk VB I-VP +mainframes NNS B-NP +, , O +we PRP B-NP +'ll MD B-VP +talk VB I-VP +mainframes NNS B-NP +, , O +' '' O +'' '' O +says VBZ B-VP +one CD B-NP +computer NN I-NP +industry NN I-NP +executive NN I-NP +. . O + +`` `` O +They PRP B-NP +'re VBP B-VP +deliberately RB I-VP +trying VBG I-VP +to TO I-VP +steal VB I-VP +our PRP$ B-NP +thunder NN I-NP +, , O +'' '' O +a DT B-NP +Digital NNP I-NP +executive NN I-NP +complains VBZ B-VP +. . O + +`` `` O +Maybe RB B-ADVP +we PRP B-NP +should MD B-VP +take VB I-VP +it PRP B-NP +as IN B-PP +a DT B-NP +compliment NN I-NP +. . O +'' '' O + +Digital NNP B-NP +'s POS B-NP +target NN I-NP +is VBZ B-VP +the DT B-NP +$ $ I-NP +40 CD I-NP +billion CD I-NP +market NN I-NP +for IN B-PP +mainframe NN B-NP +computers NNS I-NP +, , O +the DT B-NP +closet-sized JJ I-NP +number-crunchers NNS I-NP +that IN B-NP +nearly RB B-NP +every DT I-NP +big JJ I-NP +company NN I-NP +needs VBZ B-VP +to TO B-VP +run VB I-VP +its PRP$ B-NP +business NN I-NP +. . O + +IBM NNP B-NP +, , O +based VBN B-VP +in IN B-PP +Armonk NNP B-NP +, , O +N.Y. NNP B-NP +, , O +has VBZ B-VP +dominated VBN I-VP +the DT B-NP +market NN I-NP +for IN B-PP +decades NNS B-NP +. . O + +That DT B-NP +does VBZ B-VP +n't RB I-VP +scare VB I-VP +Digital NNP B-NP +, , O +which WDT B-NP +has VBZ B-VP +grown VBN I-VP +to TO I-VP +be VB I-VP +the DT B-NP +world NN I-NP +'s POS B-NP +second-largest JJ I-NP +computer NN I-NP +maker NN I-NP +by IN B-PP +poaching VBG B-VP +customers NNS B-NP +of IN B-PP +IBM NNP B-NP +'s POS B-NP +mid-range JJ I-NP +machines NNS I-NP +. . O + +Digital NNP B-NP +, , O +based VBN B-VP +in IN B-PP +Maynard NNP B-NP +, , O +Mass. NNP B-NP +, , O +hopes VBZ B-VP +to TO I-VP +stage VB I-VP +a DT B-NP +repeat NN I-NP +performance NN I-NP +in IN B-PP +mainframes NNS B-NP +, , O +and CC O +it PRP B-NP +has VBZ B-VP +spent VBN I-VP +almost RB B-NP +$ $ I-NP +1 CD I-NP +billion CD I-NP +developing VBG B-VP +the DT B-NP +new JJ I-NP +technology NN I-NP +. . O + +A DT B-NP +spoiler NN I-NP +, , O +nimble JJ B-NP +Tandem NNP I-NP +Computers NNP I-NP +Inc. NNP I-NP +in IN B-PP +Cupertino NNP B-NP +, , O +Calif. NNP B-NP +, , O +jumped VBD B-VP +into IN B-PP +the DT B-NP +fray NN I-NP +earlier RBR B-NP +this DT I-NP +week NN I-NP +with IN B-PP +an DT B-NP +aggressively RB I-NP +priced VBN I-NP +entry NN I-NP +. . O + +IBM NNP B-NP +appears VBZ B-VP +more RBR B-ADJP +worried VBN I-ADJP +about IN B-PP +Digital NNP B-NP +, , O +which WDT B-NP +has VBZ B-VP +a DT B-NP +broad JJ I-NP +base NN I-NP +of IN B-PP +customers NNS B-NP +waiting VBG B-VP +for IN B-PP +the DT B-NP +new JJ I-NP +line NN I-NP +, , O +dubbed VBD B-VP +the DT B-NP +VAX NNP I-NP +9000 CD I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +going VBG I-VP +to TO I-VP +be VB I-VP +nuclear JJ B-NP +war NN I-NP +, , O +'' '' O +says VBZ B-VP +Thomas NNP B-NP +Willmott NNP I-NP +, , O +a DT B-NP +consultant NN I-NP +with IN B-PP +Aberdeen NNP B-NP +Group NNP I-NP +Inc NNP I-NP +. . O + +The DT B-NP +surge NN I-NP +in IN B-PP +competition NN B-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +stir VB I-VP +new JJ B-NP +life NN I-NP +into IN B-PP +the DT B-NP +huge JJ I-NP +mainframe NN I-NP +market NN I-NP +, , O +where WRB B-ADVP +growth NN B-NP +has VBZ B-VP +slowed VBN I-VP +to TO B-PP +single VB B-NP +digits NNS I-NP +in IN B-PP +recent JJ B-NP +years NNS I-NP +. . O + +IBM NNP B-NP +'s POS B-NP +traditional JJ I-NP +mainframe NN I-NP +rivals NNS I-NP +, , O +including VBG B-PP +Unisys NNP B-NP +Corp. NNP I-NP +, , O +Control NNP B-NP +Data NNP I-NP +Corp. NNP I-NP +and CC O +NCR NNP B-NP +Corp. NNP I-NP +, , O +have VBP B-VP +struggled VBN I-VP +recently RB B-ADVP +. . O + +Digital NNP B-NP +is VBZ B-VP +promising JJ I-VP +a DT B-NP +new JJ I-NP +approach NN I-NP +. . O + +Robert NNP B-NP +M. NNP I-NP +Glorioso NNP I-NP +, , O +Digital NNP B-NP +'s POS B-NP +vice NN I-NP +president NN I-NP +for IN B-PP +high JJ B-NP +performance NN I-NP +systems NNS I-NP +, , O +says VBZ B-VP +Digital NNP B-NP +'s POS B-NP +mainframe NN I-NP +is VBZ B-VP +designed VBN I-VP +not RB O +as IN B-PP +a DT B-NP +central JJ I-NP +computer NN I-NP +around IN B-PP +which WDT B-NP +everything NN B-NP +revolves VBZ B-VP +, , B-PP +but CC I-PP +as IN B-PP +part NN B-NP +of IN B-PP +a DT B-NP +decentralized JJ I-NP +network NN I-NP +weaving VBG B-VP +together RB B-ADVP +hundreds NNS B-NP +of IN B-PP +workstations NNS B-NP +, , O +personal JJ B-NP +computers NNS I-NP +, , O +printers NNS B-NP +and CC O +other JJ B-NP +devices NNS I-NP +. . O + +And CC O +unlike IN B-PP +IBM NNP B-NP +'s POS B-NP +water-cooled JJ I-NP +mainframes NNS I-NP +, , O +it PRP B-NP +does VBZ B-VP +n't RB I-VP +need VB I-VP +any DT B-NP +plumbing NN I-NP +. . O + +The DT B-NP +challengers NNS I-NP +will MD B-VP +have VB I-VP +a DT B-NP +big JJ I-NP +price NN I-NP +advantage NN I-NP +. . O + +Digital NNP B-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +tag VB I-VP +its PRP$ B-NP +new JJ I-NP +line NN I-NP +from IN B-PP +about RB B-NP +$ $ I-NP +1.24 CD I-NP +million CD I-NP +to TO B-PP +$ $ B-NP +4.4 CD I-NP +million CD I-NP +and CC I-NP +up IN I-NP +, , O +depending VBG B-VP +on IN B-PP +configuration NN B-NP +. . O + +That DT B-NP +'s VBZ B-VP +about IN B-NP +half PDT I-NP +the DT I-NP +price NN I-NP +of IN B-PP +comparably RB B-NP +equipped VBN I-NP +IBM NNP I-NP +mainframes NNS I-NP +. . O + +Tandem NNP B-NP +'s POS B-NP +pricing NN I-NP +is VBZ B-VP +just RB B-ADJP +as IN I-ADJP +aggressive JJ I-ADJP +. . O + +The DT B-NP +heightened VBN I-NP +competition NN I-NP +will MD B-VP +hit VB I-VP +IBM NNP B-NP +at IN B-PP +a DT B-NP +difficult JJ I-NP +time NN I-NP +. . O + +The DT B-NP +computer NN I-NP +giant NN I-NP +'s POS B-NP +current JJ I-NP +mainframe NN I-NP +line NN I-NP +, , O +which WDT B-NP +has VBZ B-VP +sold VBN I-VP +well RB B-ADVP +and CC O +has VBZ B-VP +huge JJ B-NP +profit NN I-NP +margins NNS I-NP +, , O +is VBZ B-VP +starting VBG I-VP +to TO I-VP +show VB I-VP +its PRP$ B-NP +age NN I-NP +. . O + +The DT B-NP +new JJ I-NP +3090s CD I-NP +due JJ B-ADJP +next JJ B-NP +week NN I-NP +will MD B-VP +boost VB I-VP +performance NN B-NP +by IN B-PP +only RB B-NP +about IN I-NP +8 CD I-NP +% NN I-NP +to TO I-NP +10 CD I-NP +% NN I-NP +. . O + +And CC O +IBM NNP B-NP +is VBZ B-VP +n't RB I-VP +expected VBN I-VP +to TO I-VP +deliver VB I-VP +a DT B-NP +new JJ I-NP +generation NN I-NP +of IN B-PP +mainframes NNS B-NP +until IN B-PP +1991 CD B-NP +. . O + +Still RB B-ADVP +, , O +no DT B-NP +one CD I-NP +expects VBZ B-VP +IBM NNP B-NP +'s POS B-NP +rivals NNS I-NP +to TO B-VP +deliver VB I-VP +a DT B-NP +knockout NN I-NP +. . O + +IBM NNP B-NP +has VBZ B-VP +a DT B-NP +near-monopoly NN I-NP +on IN B-PP +mainframes NNS B-NP +, , O +with IN B-PP +an DT B-NP +estimated VBN I-NP +70 CD I-NP +% NN I-NP +share NN I-NP +of IN B-PP +the DT B-NP +market NN I-NP +. . O + +IBM NNP B-NP +is VBZ B-VP +five CD B-NP +times VBZ I-NP +the DT I-NP +size NN I-NP +of IN B-PP +Digital NNP B-NP +-- : O +and CC O +40 CD B-NP +times VBZ I-NP +the DT I-NP +size NN I-NP +of IN B-PP +Tandem NNP B-NP +-- : O +and CC O +wields VBZ B-VP +enormous JJ B-NP +market NN I-NP +power NN I-NP +. . O + +It PRP B-NP +counts VBZ B-VP +among IN B-PP +its PRP$ B-NP +customers NNS I-NP +a DT B-NP +majority NN I-NP +of IN B-PP +the DT B-NP +world NN I-NP +'s POS B-NP +largest JJS I-NP +corporations NNS I-NP +, , O +which WDT B-NP +entrust VBP B-VP +their PRP$ B-NP +most RBS I-NP +critical JJ I-NP +business NN I-NP +information NN I-NP +to TO B-PP +IBM NNP B-NP +computers NNS I-NP +. . O + +`` `` O +We PRP B-NP +'re VBP B-VP +not RB I-VP +going VBG I-VP +to TO I-VP +walk VB I-VP +in IN B-ADVP +and CC O +replace VB B-VP +a DT B-NP +company NN I-NP +'s POS B-NP +corporate JJ I-NP +accounting NN I-NP +system NN I-NP +if IN B-SBAR +it PRP B-NP +'s VBZ B-VP +already RB I-VP +running VBG I-VP +on IN B-PP +an DT B-NP +IBM NNP I-NP +mainframe NN I-NP +, , O +'' '' O +concedes VBZ B-VP +Kenneth NNP B-NP +H. NNP I-NP +Olsen NNP I-NP +, , O +Digital NNP B-NP +'s POS B-NP +president NN I-NP +. . O + +He PRP B-NP +says VBZ B-VP +Digital NNP B-NP +will MD B-VP +target VB I-VP +faster-growing JJR B-NP +market NN I-NP +segments NNS I-NP +such JJ B-PP +as IN I-PP +on-line JJ B-NP +transaction NN I-NP +processing NN I-NP +, , O +which WDT B-NP +includes VBZ B-VP +retail-sales JJ B-NP +tracking NN I-NP +, , O +airline NN B-NP +reservations NNS I-NP +and CC O +bank-teller NN B-NP +networks NNS I-NP +. . O + +Tandem NNP B-NP +, , O +which WDT B-NP +already RB B-ADVP +specializes VBZ B-VP +in IN B-PP +on-line JJ B-NP +transaction NN I-NP +processing NN I-NP +, , O +is VBZ B-VP +a DT B-NP +potent JJ I-NP +competitor NN I-NP +in IN B-PP +that DT B-NP +market NN I-NP +. . O + +A DT B-NP +key JJ I-NP +marketing NN I-NP +target NN I-NP +for IN B-PP +Digital NNP B-NP +will MD B-VP +be VB I-VP +the DT B-NP +large JJ I-NP +number NN I-NP +of IN B-PP +big JJ B-NP +customers NNS I-NP +who WP B-NP +already RB B-ADVP +own VB B-VP +both DT B-NP +Digital NNP I-NP +and CC I-NP +IBM NNP I-NP +systems NNS I-NP +. . O + +One CD B-NP +such JJ I-NP +company NN I-NP +is VBZ B-VP +Bankers NNP B-NP +Trust NNP I-NP +Co NNP I-NP +. . O + +Stanley NNP B-NP +Rose NNP I-NP +, , O +a DT B-NP +vice NN I-NP +president NN I-NP +, , O +technological JJ B-NP +and CC I-NP +strategic JJ I-NP +planning NN I-NP +at IN B-PP +Bankers NNP B-NP +Trust NNP I-NP +, , O +says VBZ B-VP +that IN B-SBAR +despite IN B-PP +Digital NNP B-NP +'s POS B-NP +low JJ I-NP +prices NNS I-NP +, , O +`` `` O +we PRP B-NP +are VBP B-VP +n't RB O +about IN O +to TO B-VP +unplug VB I-VP +our PRP$ B-NP +IBM NNP I-NP +mainframes NNS I-NP +for IN B-PP +a DT B-NP +DEC NNP I-NP +machine NN I-NP +. . O + +The DT B-NP +software NN I-NP +conversion NN I-NP +costs NNS I-NP +would MD B-VP +dwarf VB I-VP +any DT B-NP +savings NNS I-NP +. . O +'' '' O + +But CC O +Mr. NNP B-NP +Rose NNP I-NP +is VBZ B-VP +still RB I-VP +looking VBG I-VP +seriously RB B-ADVP +at IN B-PP +the DT B-NP +9000 CD I-NP +. . O + +Bankers NNP B-NP +Trust NNP I-NP +uses VBZ B-VP +Digital NNP B-NP +'s POS B-NP +VAX NNP I-NP +to TO B-VP +run VB I-VP +its PRP$ B-NP +huge JJ I-NP +money-transfer NN I-NP +and CC I-NP +capital NN I-NP +markets NNS I-NP +accounts NNS I-NP +, , O +juggling VBG B-VP +hundreds NNS B-NP +of IN B-PP +billions NNS B-NP +of IN B-PP +dollars NNS B-NP +each DT B-NP +day NN I-NP +, , O +he PRP B-NP +says VBZ B-VP +. . O + +As IN B-SBAR +that DT B-NP +system NN I-NP +grows VBZ B-VP +, , O +larger JJR B-NP +computers NNS I-NP +may MD B-VP +be VB I-VP +needed VBN I-VP +. . O + +`` `` O +In IN B-PP +the DT B-NP +past NN I-NP +, , O +customers NNS B-NP +had VBD B-VP +to TO I-VP +go VB I-VP +to TO B-PP +IBM NNP B-NP +when WRB B-ADVP +they PRP B-NP +outgrew VBD B-VP +the DT B-NP +VAX NNP I-NP +. . O + +Now RB B-ADVP +they PRP B-NP +do VBP B-VP +n't RB I-VP +have VB I-VP +to TO I-VP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +`` `` O +That DT B-NP +'s VBZ B-VP +going VBG I-VP +to TO I-VP +cost VB I-VP +IBM NNP B-NP +revenue NN B-NP +. . O +'' '' O + +Analysts NNS B-NP +say VBP B-VP +Digital NNP B-NP +can MD B-VP +expect VB I-VP +this DT B-NP +pent-up JJ I-NP +demand NN I-NP +for IN B-PP +the DT B-NP +new JJ I-NP +VAX NNP I-NP +to TO B-VP +fuel VB I-VP +strong JJ B-NP +sales NNS I-NP +next JJ B-NP +year NN I-NP +. . O + +Barry NNP B-NP +F. NNP I-NP +Willman NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +at IN B-PP +Sanford NNP B-NP +C. NNP I-NP +Bernstein NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +estimates VBZ B-VP +the DT B-NP +9000 CD I-NP +could MD B-VP +boost VB I-VP +sales NNS B-NP +by IN B-PP +more JJR B-NP +than IN I-NP +$ $ I-NP +1 CD I-NP +billion CD I-NP +in IN B-PP +the DT B-NP +fiscal JJ I-NP +year NN I-NP +beginning VBG B-VP +in IN B-PP +July NNP B-NP +. . O + +He PRP B-NP +bases VBZ B-VP +the DT B-NP +estimate NN I-NP +on IN B-PP +a DT B-NP +survey NN I-NP +of IN B-PP +hundreds NNS B-NP +of IN B-PP +Digital NNP B-NP +'s POS B-NP +largest JJS I-NP +customers NNS I-NP +. . O + +Although IN B-SBAR +Digital NNP B-NP +will MD B-VP +announce VB I-VP +a DT B-NP +full JJ I-NP +family NN I-NP +of IN B-PP +mainframes NNS B-NP +next JJ B-NP +week NN I-NP +, , O +it PRP B-NP +is VBZ B-VP +n't RB I-VP +expected VBN I-VP +to TO I-VP +begin VB I-VP +shipping VBG I-VP +in IN B-PP +volume NN B-NP +until IN B-PP +next JJ B-NP +year NN I-NP +. . O + +The DT B-NP +first JJ I-NP +model NN I-NP +available JJ B-ADJP +will MD B-VP +be VB I-VP +the DT B-NP +210 CD I-NP +, , O +which WDT B-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +appeal VB I-VP +to TO B-PP +many VB B-NP +technical JJ I-NP +and CC I-NP +scientific JJ I-NP +buyers NNS I-NP +interested JJ B-VP +in IN B-PP +the DT B-NP +optional JJ I-NP +super-charger NN I-NP +, , I-NP +or CC I-NP +vector NN I-NP +processor NN I-NP +, , O +says VBZ B-VP +Terry NNP B-NP +Shannon NNP I-NP +of IN B-PP +International NNP B-NP +Data NNP I-NP +Corp. NNP I-NP +, , O +a DT B-NP +market NN I-NP +research NN I-NP +concern NN I-NP +. . O + +Four CD B-NP +more JJR I-NP +models NNS I-NP +, , O +aimed VBD B-VP +squarely RB B-ADVP +at IN B-PP +IBM NNP B-NP +'s POS B-NP +commercial JJ I-NP +customers NNS I-NP +, , O +are VBP B-VP +expected VBN I-VP +to TO I-VP +begin VB I-VP +shipping VBG I-VP +in IN B-PP +late JJ B-NP +June NNP I-NP +. . O + +Most JJS B-NP +analysts NNS I-NP +do VBP B-VP +n't RB I-VP +expect VB I-VP +the DT B-NP +new JJ I-NP +mainframes NNS I-NP +to TO B-VP +begin VB I-VP +contributing VBG I-VP +significantly RB B-ADVP +to TO B-PP +revenue NN B-NP +before IN B-PP +the DT B-NP +fiscal JJ I-NP +first JJ I-NP +quarter NN I-NP +, , O +which WDT B-NP +begins VBZ B-VP +next JJ B-NP +July NNP I-NP +1 CD I-NP +. . O + +Digital NNP B-NP +'s POS B-NP +new JJ I-NP +line NN I-NP +has VBZ B-VP +been VBN I-VP +a DT B-NP +long JJ I-NP +time NN I-NP +coming VBG B-VP +. . O + +The DT B-NP +company NN I-NP +has VBZ B-VP +long RB I-VP +struggled VBN I-VP +to TO I-VP +deliver VB I-VP +a DT B-NP +strong JJ I-NP +mainframe-class JJ I-NP +product NN I-NP +, , O +and CC O +made VBD B-VP +a DT B-NP +costly JJ I-NP +decision NN I-NP +in IN B-PP +1988 CD B-NP +to TO B-VP +halt VB I-VP +development NN B-NP +of IN B-PP +an DT B-NP +interim JJ I-NP +product NN I-NP +meant VBD B-VP +to TO I-VP +stem VB I-VP +the DT B-NP +revenue NN I-NP +losses NNS I-NP +at IN B-PP +the DT B-NP +high JJ I-NP +end NN I-NP +. . O + +Digital NNP B-NP +'s POS B-NP +failure NN I-NP +to TO B-VP +deliver VB I-VP +a DT B-NP +true JJ I-NP +mainframe-class JJ I-NP +machine NN I-NP +before IN B-PP +now RB B-NP +may MD B-VP +have VB I-VP +cost VBN I-VP +the DT B-NP +company NN I-NP +as RB B-NP +much JJ I-NP +as IN I-NP +$ $ I-NP +1 CD I-NP +billion CD I-NP +in IN B-PP +revenue NN B-NP +in IN B-PP +fiscal JJ B-NP +1989 CD I-NP +, , O +Mr. NNP B-NP +Willman NNP I-NP +says VBZ B-VP +. . O + +IBM NNP B-NP +will MD B-VP +face VB I-VP +still RB B-NP +more JJR I-NP +competition NN I-NP +in IN B-PP +coming VBG B-NP +months NNS I-NP +. . O + +Amdahl NNP B-NP +Corp. NNP I-NP +, , O +backed VBN B-VP +by IN B-PP +Japan NNP B-NP +'s POS B-NP +Fujitsu NNP I-NP +Ltd. NNP I-NP +, , O +has VBZ B-VP +a DT B-NP +growing VBG I-NP +share NN I-NP +of IN B-PP +the DT B-NP +market NN I-NP +with IN B-PP +its PRP$ B-NP +low-priced JJ I-NP +, , I-NP +IBM-compatible JJ I-NP +machines NNS I-NP +. . O + +And CC O +National NNP B-NP +Advanced NNP I-NP +Systems NNPS I-NP +, , O +a DT B-NP +joint JJ I-NP +venture NN I-NP +of IN B-PP +Japan NNP B-NP +'s POS B-NP +Hitachi NNP I-NP +Ltd. NNP I-NP +and CC O +General NNP B-NP +Motors NNPS I-NP +Corp. NNP I-NP +'s POS B-NP +Electronic NNP I-NP +Data NNP I-NP +Systems NNPS I-NP +, , O +is VBZ B-VP +expected VBN I-VP +to TO I-VP +unveil VB I-VP +a DT B-NP +line NN I-NP +of IN B-PP +powerful JJ B-NP +IBM-compatible JJ I-NP +mainframes NNS I-NP +later RB B-NP +this DT I-NP +year NN I-NP +. . O + +NOTE NN B-NP +: : O + +NAS NNP B-NP +is VBZ B-VP +National NNP B-NP +Advanced NNP I-NP +Systems NNPS I-NP +, , O +CDC NNP B-NP +-- : O +Control NNP B-NP +Data NNP I-NP +Corp. NNP I-NP +, , B-NP +Bull NNP I-NP +NH NNP I-NP +Information NNP I-NP +Systems NNP I-NP +Inc NNP I-NP +. . O + +Source NN B-NP +: : O +International NNP B-NP +Data NNP I-NP +Corp NNP I-NP +. . O + +Compiled VBN B-VP +by IN B-PP +Publishers NNP B-NP +Weekly NNP I-NP +from IN B-PP +data NNS B-NP +from IN B-PP +large-city JJ B-NP +bookstores NNS I-NP +, , O +bookstore NN B-NP +chains NNS I-NP +and CC O +local JJ B-NP +bestseller NN I-NP +lists NNS I-NP +across IN B-PP +the DT B-NP +U.S. NNP I-NP +. . O + +Copyright NNP B-NP +1989 CD B-NP +by IN B-PP +Reed NNP B-NP +Publishing NNP I-NP +USA NNP I-NP +. . O + +The DT B-NP +frenetic JJ I-NP +stock NN I-NP +and CC I-NP +bond NN I-NP +markets NNS I-NP +cooled VBN B-VP +off IN B-ADVP +, , O +but CC O +the DT B-NP +dollar NN I-NP +slumped VBD B-VP +. . O + +Stocks NNS B-NP +rose VBD B-VP +slightly RB B-ADVP +as IN B-SBAR +trading NN B-NP +activity NN I-NP +slowed VBD B-VP +from IN B-PP +the DT B-NP +frenzied JJ I-NP +pace NN I-NP +earlier RBR B-NP +this DT I-NP +week NN I-NP +. . O + +Prices NNS B-NP +of IN B-PP +long-term JJ B-NP +Treasury NNP I-NP +bonds NNS I-NP +hovered VBD B-VP +in IN B-PP +a DT B-NP +narrow JJ I-NP +band NN I-NP +most RBS B-NP +of IN B-PP +the DT B-NP +day NN I-NP +, , O +finishing VBG B-VP +little RB B-ADJP +changed VBN I-ADJP +despite IN B-PP +the DT B-NP +dollar NN I-NP +'s POS B-NP +weakness NN I-NP +and CC O +fears NNS B-NP +about IN B-PP +a DT B-NP +wave NN I-NP +of IN B-PP +government NN B-NP +borrowing NN I-NP +coming VBG B-VP +soon RB B-ADVP +. . O + +Helped VBN B-VP +by IN B-PP +futures-related JJ B-NP +program NN I-NP +buying VBG I-NP +, , O +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +gained VBD B-VP +4.92 CD B-NP +points NNS I-NP +to TO B-VP +close VB I-VP +at IN B-PP +2643.65 CD B-NP +. . O + +But CC O +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Transportation NNP I-NP +Average NNP I-NP +fell VBD B-VP +for IN B-PP +the DT B-NP +seventh-consecutive JJ I-NP +session NN I-NP +as IN B-SBAR +more JJR B-NP +investors NNS I-NP +dumped VBD B-VP +UAL NNP B-NP +shares NNS I-NP +. . O + +Bond NN B-NP +prices NNS I-NP +rallied VBD B-VP +early JJ B-NP +yesterday NN I-NP +morning NN I-NP +as IN B-SBAR +traders NNS B-NP +scrambled VBD B-VP +to TO B-VP +buy VB I-VP +Treasury NNP B-NP +issues NNS I-NP +on IN B-PP +fears NNS B-NP +that IN B-SBAR +the DT B-NP +Northern NNP I-NP +California NNP I-NP +earthquake NN I-NP +might MD B-VP +lead VB I-VP +to TO B-PP +a DT B-NP +stock-market NN I-NP +debacle NN I-NP +. . O + +But CC O +when WRB B-ADVP +stocks NNS B-NP +held VBD B-VP +steady JJ B-ADJP +, , O +Treasury NNP B-NP +bonds NNS I-NP +later RB B-ADVP +retreated VBD B-VP +. . O + +Speculation NN B-NP +that IN B-SBAR +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +will MD B-VP +lower JJR I-VP +interest VB B-NP +rates NNS I-NP +in IN B-PP +coming VBG B-NP +weeks NNS I-NP +helped VBD B-VP +push VB I-VP +the DT B-NP +dollar NN I-NP +down RB B-ADVP +while IN O +boosting VBG B-VP +stocks NNS B-NP +, , O +traders NNS B-NP +said VBD B-VP +. . O + +But CC O +many JJ B-NP +investors NNS I-NP +remain VBP B-VP +wary JJ B-ADJP +about IN B-PP +stocks NNS B-NP +, , O +partly RB B-ADVP +because IN B-SBAR +they PRP B-NP +expect VBP B-VP +continued VBD B-NP +turbulence NN I-NP +in IN B-PP +the DT B-NP +junk-bond NN I-NP +market NN I-NP +that WDT B-NP +would MD B-VP +make VB I-VP +it PRP B-NP +more RBR B-ADJP +difficult JJ I-ADJP +to TO B-VP +finance VB I-VP +corporate JJ B-NP +takeovers NNS I-NP +. . O + +`` `` O +I PRP B-NP +'m VBP B-VP +surprised VBN B-ADJP +we PRP B-NP +did VBD B-VP +n't RB I-VP +see VB I-VP +more JJR B-NP +volatility NN I-NP +'' '' O +in IN B-PP +stocks NNS B-NP +, , O +said VBD B-VP +Raymond NNP B-NP +F. NNP I-NP +DeVoe NNP I-NP +Jr. NNP I-NP +, , O +market NN B-NP +strategist NN I-NP +at IN B-PP +Legg NNP B-NP +Mason NNP I-NP +Wood NNP I-NP +Walker NNP I-NP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +the DT B-NP +problems NNS I-NP +in IN B-PP +the DT B-NP +junk-bond NN I-NP +area NN I-NP +are VBP B-VP +just RB I-VP +beginning VBG I-VP +, , O +and CC O +this DT B-NP +will MD B-VP +be VB I-VP +very RB B-ADJP +unsettling JJ I-ADJP +for IN B-PP +companies NNS B-NP +that WDT B-NP +have VBP B-VP +issued VBN I-VP +junk NN B-NP +bonds NNS I-NP +. . O + +In IN B-PP +a DT B-NP +bull NN I-NP +market NN I-NP +, , O +credit NN B-NP +does VBZ B-VP +not RB I-VP +matter VB I-VP +, , O +'' '' O +Mr. NNP B-NP +DeVoe NNP I-NP +added VBD B-VP +. . O + +`` `` O +But CC O +when WRB B-ADVP +it PRP B-NP +does VBZ B-VP +matter NN I-VP +, , O +then RB O +it PRP B-NP +'s VBZ B-VP +the DT B-NP +only JJ I-NP +thing NN I-NP +that IN B-NP +matters NNS B-VP +. . O +'' '' O + +However RB B-ADVP +, , O +many JJ B-NP +institutional JJ I-NP +investors NNS I-NP +are VBP B-VP +reacting VBG I-VP +to TO B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +'s POS B-NP +plunge NN I-NP +as IN B-PP +`` `` O +a DT B-NP +great JJ I-NP +buying NN I-NP +opportunity NN I-NP +, , O +'' '' O +said VBD B-VP +Charles NNP B-NP +I. NNP I-NP +Clough NNP I-NP +, , O +chief JJ B-NP +investment NN I-NP +strategist NN I-NP +at IN B-PP +Merrill NNP B-NP +Lynch NNP I-NP +Capital NNP I-NP +Markets NNPS I-NP +. . O + +`` `` O +Things NNS B-NP +are VBP B-VP +beginning VBG I-VP +to TO I-VP +settle VB I-VP +down RB B-ADVP +. . O + +The DT B-NP +markets NNS I-NP +are VBP B-VP +returning VBG I-VP +to TO B-PP +normalcy NN B-NP +. . O +'' '' O + +Oil NN B-NP +prices NNS I-NP +initially RB B-ADVP +rose VBD B-VP +on IN B-PP +fears NNS B-NP +that IN B-SBAR +the DT B-NP +massive JJ I-NP +earthquake NN I-NP +in IN B-PP +Northern NNP B-NP +California NNP I-NP +would MD B-VP +disrupt VB I-VP +production NN B-NP +. . O + +But CC O +prices NNS B-NP +later RB B-ADVP +reversed VBD B-VP +course NN B-NP +, , O +finishing VBG B-VP +slightly RB B-ADJP +lower JJR I-ADJP +, , O +as IN B-SBAR +investors NNS B-NP +concluded VBD B-VP +that IN B-SBAR +any DT B-NP +cuts NNS I-NP +would MD B-VP +n't RB I-VP +be VB I-VP +large JJ B-ADJP +and CC O +that IN B-SBAR +foreign JJ B-NP +oil NN I-NP +producers NNS I-NP +would MD B-VP +quickly RB I-VP +pick VB I-VP +up IN B-PRT +the DT B-NP +slack NN I-NP +. . O + +In IN B-PP +major JJ B-NP +market NN I-NP +activity NN I-NP +: : O + +Stock NN B-NP +prices NNS I-NP +rose VBD B-VP +. . O + +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +volume NN I-NP +shrank VBD B-VP +to TO B-PP +166.9 CD B-NP +million CD I-NP +shares NNS I-NP +from IN B-PP +224.1 CD B-NP +million CD I-NP +Tuesday NNP B-NP +. . O + +Advancers NNS B-NP +on IN B-PP +the DT B-NP +Big NNP I-NP +Board NNP I-NP +outpaced VBD B-VP +decliners NNS B-NP +by IN B-PP +822 CD B-ADVP +to TO I-ADVP +668 CD I-ADVP +. . O + +Bond NN B-NP +prices NNS I-NP +were VBD B-VP +little RB B-ADJP +changed VBN I-ADJP +in IN B-PP +sluggish JJ B-NP +activity NN I-NP +. . O + +The DT B-NP +yield NN I-NP +on IN B-PP +the DT B-NP +Treasury NNP I-NP +'s POS B-NP +30-year JJ I-NP +issue NN I-NP +fell VBD B-VP +slightly RB B-ADVP +to TO B-PP +8.03 CD B-NP +% NN I-NP +. . O + +The DT B-NP +dollar NN I-NP +dropped VBD B-VP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +late JJ B-NP +yesterday NN I-NP +, , O +the DT B-NP +currency NN I-NP +was VBD B-VP +at IN B-PP +141.45 CD B-NP +yen NN I-NP +and CC O +1.8485 CD B-NP +marks NNS I-NP +, , O +down RB B-ADVP +from IN B-PP +142.75 CD B-NP +yen NN I-NP +and CC O +1.8667 CD B-NP +marks NNS I-NP +late JJ B-NP +Tuesday NNP I-NP +. . O + +James NNP B-NP +L. NNP I-NP +Madson NNP I-NP +, , O +46 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +was VBD B-VP +named VBN I-VP +a DT B-NP +vice NN I-NP +president NN I-NP +and CC O +assistant NN B-NP +general JJ I-NP +manager NN I-NP +of IN B-PP +this DT B-NP +producer NN I-NP +of IN B-PP +copper NN B-NP +and CC O +other JJ B-NP +minerals NNS I-NP +. . O + +He PRP B-NP +will MD B-VP +succeed VB I-VP +Arthur NNP B-NP +E. NNP I-NP +Himebaugh NNP I-NP +as IN B-PP +general JJ B-NP +manager NN I-NP +Feb. NNP B-NP +1 CD I-NP +, , O +when WRB B-ADVP +Mr. NNP B-NP +Himebaugh NNP I-NP +retires VBZ B-VP +. . O + +AMR NNP B-NP +Corp. NNP I-NP +posted VBD B-VP +an DT B-NP +8.8 CD I-NP +% NN I-NP +drop NN I-NP +in IN B-PP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +and CC O +said VBD B-VP +the DT B-NP +fourth JJ I-NP +quarter NN I-NP +will MD B-VP +be VB I-VP +`` `` O +disappointing JJ B-ADJP +'' '' O +as IN B-ADVP +well RB I-ADVP +, , O +primarily RB B-ADVP +because IN B-PP +of IN I-PP +slimmer JJR B-NP +profit NN I-NP +margins NNS I-NP +and CC O +increased VBN B-NP +fuel NN I-NP +costs NNS I-NP +. . O + +AMR NNP B-NP +'s POS B-NP +earnings NNS I-NP +decline NN I-NP +comes VBZ B-VP +a DT B-NP +year NN I-NP +after IN B-SBAR +the DT B-NP +parent NN I-NP +company NN I-NP +of IN B-PP +American NNP B-NP +Airlines NNPS I-NP +and CC O +the DT B-NP +rest NN I-NP +of IN B-PP +the DT B-NP +airline NN I-NP +industry NN I-NP +set VBD B-VP +profit NN B-NP +records NNS I-NP +. . O + +Some DT B-NP +analysts NNS I-NP +say VBP B-VP +the DT B-NP +latest JJS I-NP +results NNS I-NP +only RB B-ADVP +seem VBP B-VP +pale JJ B-ADJP +by IN B-PP +comparison NN B-NP +with IN B-PP +a DT B-NP +spectacular JJ I-NP +second JJ I-NP +half NN I-NP +of IN B-PP +1988 CD B-NP +. . O + +Still RB B-ADVP +, , O +AMR NNP B-NP +'s POS B-NP +stumble NN I-NP +does VBZ B-VP +n't RB I-VP +bode VB I-VP +well RB B-ADVP +for IN B-PP +the DT B-NP +rest NN I-NP +of IN B-PP +the DT B-NP +industry NN I-NP +. . O + +The DT B-NP +Fort NNP I-NP +Worth NNP I-NP +, , I-NP +Texas NNP I-NP +, , I-NP +company NN I-NP +is VBZ B-VP +generally RB I-VP +regarded VBN I-VP +as IN B-PP +one CD B-NP +of IN B-PP +the DT B-NP +best-run JJS I-NP +in IN B-PP +the DT B-NP +business NN I-NP +, , O +and CC O +its PRP$ B-NP +difficulties NNS I-NP +are VBP B-VP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +reflected VBN I-VP +industrywide JJ B-ADVP +as IN B-SBAR +other JJ B-NP +major JJ I-NP +carriers NNS I-NP +report VBP B-VP +third-quarter JJ B-NP +results NNS I-NP +over IN B-PP +the DT B-NP +next JJ I-NP +several JJ I-NP +days NNS I-NP +. . O + +Meanwhile RB B-ADVP +, , O +the DT B-NP +company NN I-NP +'s POS B-NP +board NN I-NP +, , O +which WDT B-NP +had VBD B-VP +said VBD I-VP +nothing NN B-NP +publicly RB B-ADVP +about IN B-PP +investor NN B-NP +Donald NNP I-NP +Trump NNP I-NP +'s POS B-NP +recently RB B-ADJP +withdrawn VBN I-ADJP +$ $ B-ADJP +7.5 CD O +billion CD O +offer NN B-NP +for IN B-PP +AMR NNP B-NP +, , O +issued VBD B-VP +a DT B-NP +statement NN I-NP +condemning VBG B-VP +`` `` B-NP +ill-conceived JJ I-NP +and CC I-NP +reckless JJ I-NP +'' '' I-NP +bids NNS I-NP +and CC O +saying VBG B-VP +it PRP B-NP +was VBD B-VP +`` `` B-ADJP +pleased VBN I-ADJP +'' '' O +that IN B-SBAR +Mr. NNP B-NP +Trump NNP I-NP +had VBD B-VP +backed VBN I-VP +out RB B-PRT +. . O + +In IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +, , O +AMR NNP B-NP +said VBD B-VP +, , O +net NN B-NP +fell VBD B-VP +to TO B-PP +$ $ B-NP +137 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +2.16 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +150.3 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +2.50 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Revenue NN B-NP +rose VBD B-VP +17 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +2.73 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +2.33 CD I-NP +billion CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +AMR NNP B-NP +'s POS B-NP +chairman NN I-NP +, , O +Robert NNP B-NP +L. NNP I-NP +Crandall NNP I-NP +, , O +said VBD B-VP +the DT B-NP +results NNS I-NP +were VBD B-VP +due JJ B-ADJP +to TO B-PP +an DT B-NP +11 CD I-NP +% NN I-NP +year-to-year JJ I-NP +increase NN I-NP +in IN B-PP +fuel NN B-NP +prices NNS I-NP +and CC O +a DT B-NP +slight JJ I-NP +decrease NN I-NP +in IN B-PP +yield NN B-NP +, , O +an DT B-NP +industry NN I-NP +measure NN I-NP +analogous JJ B-ADJP +to TO B-PP +profit VB B-NP +margin NN I-NP +on IN B-PP +each DT B-NP +seat NN I-NP +sold VBN B-VP +. . O + +`` `` O +We PRP B-NP +think VBP B-VP +these DT B-NP +trends NNS I-NP +will MD B-VP +continue VB I-VP +and CC O +will MD B-VP +produce VB I-VP +a DT B-NP +very RB I-NP +disappointing JJ I-NP +fourth JJ I-NP +quarter NN I-NP +as IN B-ADVP +well RB I-ADVP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +Tim NNP B-NP +Pettee NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +with IN B-PP +Merrill NNP B-NP +Lynch NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +said VBD B-VP +: : O +`` `` O +The DT B-NP +business NN I-NP +turned VBD B-VP +faster RBR B-ADVP +than IN B-SBAR +expected VBN B-VP +. . O + +Costs NNS B-NP +are VBP B-VP +giving VBG I-VP +them PRP B-NP +a DT B-NP +little JJ I-NP +bit NN I-NP +of IN B-PP +trouble NN B-NP +, , O +and CC O +the DT B-NP +whole JJ I-NP +industry NN I-NP +is VBZ B-VP +having VBG I-VP +a DT B-NP +pricing NN I-NP +problem NN I-NP +. . O +'' '' O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +AMR NNP B-NP +'s POS B-NP +net NN I-NP +rose VBD B-VP +15 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +415.9 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +6.59 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +360.1 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +5.99 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Revenue NN B-NP +jumped VBD B-VP +22 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +7.89 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +6.46 CD I-NP +billion CD I-NP +. . O + +AMR NNP B-NP +'s POS B-NP +board NN I-NP +, , O +in IN B-PP +a DT B-NP +statement NN I-NP +after IN B-PP +a DT B-NP +regular JJ I-NP +meeting NN I-NP +yesterday NN B-NP +, , O +said VBD B-VP +: : O +`` `` O +Ill-considered JJ B-NP +and CC I-NP +reckless JJ I-NP +acquisition NN I-NP +proposals NNS I-NP +adversely RB B-VP +affect VBP I-VP +employee NN B-NP +, , I-NP +financial JJ I-NP +and CC I-NP +business NN I-NP +relationships NNS I-NP +and CC O +are VBP B-VP +contrary JJ B-ADJP +to TO B-PP +the DT B-NP +best JJS I-NP +interests NNS I-NP +of IN B-PP +AMR NNP B-NP +shareholders NNS I-NP +... : O +. . O + +AMR NNP B-NP +has VBZ B-VP +not RB I-VP +been VBN I-VP +, , O +and CC O +is VBZ B-VP +not RB O +, , O +for IN B-PP +sale NN B-NP +. . O +'' '' O + +Mr. NNP B-NP +Crandall NNP I-NP +said VBD B-VP +the DT B-NP +company NN I-NP +'s POS B-NP +current JJ I-NP +decline NN I-NP +in IN B-PP +earnings NNS B-NP +is VBZ B-VP +exactly RB B-NP +the DT I-NP +kind NN I-NP +of IN B-PP +situation NN B-NP +that IN B-NP +an DT B-NP +excessively RB I-NP +leveraged JJ I-NP +company NN I-NP +laden JJ B-ADJP +with IN B-PP +debt NN B-NP +from IN B-PP +a DT B-NP +takeover NN I-NP +would MD B-VP +find VB I-VP +difficult JJ B-ADJP +to TO B-VP +weather VB I-VP +. . O + +`` `` O +Our PRP$ B-NP +very RB I-NP +disappointing JJ I-NP +third-quarter JJ I-NP +results NNS I-NP +and CC O +the DT B-NP +discouraging VBG I-NP +outlook NN I-NP +for IN B-PP +the DT B-NP +fourth JJ I-NP +quarter NN I-NP +underscore VBP B-VP +the DT B-NP +importance NN I-NP +of IN B-PP +an DT B-NP +adequate JJ I-NP +capital NN I-NP +base NN I-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +Christopher NNP B-NP +Whittington NNP I-NP +, , O +51-year-old JJ B-NP +deputy NN I-NP +chairman NN I-NP +of IN B-PP +this DT B-NP +British JJ I-NP +investment-banking NN I-NP +group NN I-NP +and CC O +chairman NN B-NP +of IN B-PP +Morgan NNP B-NP +Grenfell NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +the DT B-NP +group NN I-NP +'s POS B-NP +main JJ I-NP +banking NN I-NP +unit NN I-NP +, , O +has VBZ B-VP +retired VBN I-VP +from IN B-PP +his PRP$ B-NP +executive NN I-NP +duties NNS I-NP +. . O + +Succeeding VBG B-VP +Mr. NNP B-NP +Whittington NNP I-NP +as IN B-PP +deputy NN B-NP +chairman NN I-NP +of IN B-PP +the DT B-NP +group NN I-NP +is VBZ B-VP +Anthony NNP B-NP +Richmond-Watson NNP I-NP +, , O +43 CD B-NP +, , O +currently RB B-NP +a DT I-NP +main JJ I-NP +board NN I-NP +member NN I-NP +. . O + +Succeeding VBG B-VP +Mr. NNP B-NP +Whittington NNP I-NP +at IN B-PP +Morgan NNP B-NP +Grenfell NNP I-NP +& CC I-NP +Co. NNP I-NP +is VBZ B-VP +Richard NNP B-NP +Webb NNP I-NP +, , O +50 CD B-NP +, , O +currently JJ B-NP +deputy NN I-NP +chairman NN I-NP +. . O + +Mr. NNP B-NP +Whittington NNP I-NP +will MD B-VP +remain VB I-VP +on IN B-PP +the DT B-NP +main JJ I-NP +group NN I-NP +board NN I-NP +as IN B-PP +a DT B-NP +nonexecutive JJ I-NP +director NN I-NP +. . O + +Without IN B-PP +federal JJ B-NP +subsidies NNS I-NP +to TO B-PP +developers NNS B-NP +of IN B-PP +beach NN B-NP +houses NNS I-NP +, , O +the DT B-NP +economic JJ I-NP +and CC I-NP +structural JJ I-NP +damage NN I-NP +by IN B-PP +Hurricane NNP B-NP +Hugo NNP I-NP +in IN B-PP +South NNP B-NP +Carolina NNP I-NP +would MD B-VP +have VB I-VP +been VBN I-VP +much RB B-ADJP +less JJR I-ADJP +, , O +as IN O +highlighted VBN B-VP +by IN B-PP +your PRP$ B-NP +Oct. NNP I-NP +3 CD I-NP +editorial NN I-NP +`` `` O +Subsidizing VBG B-VP +Disaster NN B-NP +. . O +'' '' O + +Congress NNP B-NP +should MD B-VP +stop VB I-VP +throwing VBG I-VP +tax NN B-NP +dollars NNS I-NP +out IN B-PP +to TO B-PP +sea VB B-NP +by IN B-PP +subsidizing VBG B-VP +the DT B-NP +development NN I-NP +of IN B-PP +beach NN B-NP +communities NNS I-NP +on IN B-PP +ecologically RB B-NP +fragile JJ I-NP +coastal JJ I-NP +barrier NN I-NP +islands NNS I-NP +, , O +such JJ B-PP +as IN I-PP +the DT B-NP +hard-hit JJ I-NP +Isle NNP I-NP +of IN B-PP +Palms NNPS B-NP +near IN B-PP +Charleston NNP B-NP +. . O + +As IN B-SBAR +you PRP B-NP +mentioned VBD B-VP +, , O +subsidies NNS B-NP +for IN B-PP +development NN B-NP +on IN B-PP +a DT B-NP +number NN I-NP +of IN B-PP +barrier NN B-NP +islands NNS I-NP +were VBD B-VP +curtailed VBN I-VP +in IN B-PP +1982 CD B-NP +by IN B-PP +the DT B-NP +Coastal NNP I-NP +Barrier NNP I-NP +Resource NNP I-NP +System NNP I-NP +. . O + +The DT B-NP +National NNP I-NP +Taxpayers NNP I-NP +Union NNP I-NP +would MD B-VP +like IN I-VP +Congress NNP B-NP +to TO B-VP +add VB I-VP +800,000 CD B-NP +acres NNS I-NP +to TO B-PP +the DT B-NP +453,000 CD I-NP +of IN B-PP +shoreline NN B-NP +in IN B-PP +the DT B-NP +system NN I-NP +by IN B-PP +enacting VBG B-VP +`` `` O +The DT B-NP +Coastal NNP I-NP +Barrier NNP I-NP +Improvement NNP I-NP +Act NNP I-NP +of IN B-PP +1989 CD B-NP +. . O +'' '' O + +This DT B-NP +bill NN I-NP +simply RB B-ADVP +says VBZ B-VP +that IN B-SBAR +if IN B-SBAR +you PRP B-NP +want VBP B-VP +to TO I-VP +develop VB I-VP +property NN B-NP +on IN B-PP +a DT B-NP +barrier NN I-NP +island NN I-NP +you PRP B-NP +have VBP B-VP +to TO I-VP +do VB I-VP +so RB B-ADVP +without IN B-PP +taxpayer NN B-NP +support NN I-NP +. . O + +Private-property NN B-NP +rights NNS I-NP +would MD B-VP +be VB I-VP +upheld VBN I-VP +because IN B-SBAR +the DT B-NP +legislation NN I-NP +would MD B-VP +not RB I-VP +ban VB I-VP +coastal JJ B-NP +development NN I-NP +. . O + +However RB B-ADVP +, , O +home NN B-NP +builders NNS I-NP +would MD B-VP +have VB I-VP +to TO I-VP +bear VB I-VP +the DT B-NP +full JJ I-NP +costs NNS I-NP +of IN B-PP +such JJ B-NP +beach-house NN I-NP +construction NN I-NP +. . O + +A DT B-NP +Taxpayers NNP I-NP +Union NNP I-NP +study NN I-NP +concluded VBD B-VP +the DT B-NP +bill NN I-NP +would MD B-VP +save VB I-VP +taxpayers NNS B-NP +up IN B-NP +to TO I-NP +$ $ I-NP +9.3 CD I-NP +billion CD I-NP +in IN B-PP +barrier-island NN B-NP +subsidies NNS I-NP +over IN B-PP +20 CD B-NP +years NNS I-NP +. . O + +Already RB B-ADVP +, , O +the DT B-NP +1982 CD I-NP +legislation NN I-NP +has VBZ B-VP +saved VBN I-VP +an DT B-NP +estimated VBN I-NP +$ $ I-NP +800 CD I-NP +million CD I-NP +. . O + +Marshall NNP B-NP +Y. NNP I-NP +Taylor NNP I-NP + +Communications NNP B-NP +Director NNP I-NP + +National NNP B-NP +Taxpayers NNP I-NP +Union NNP I-NP + +The DT B-NP +government NN I-NP +said VBD B-VP +13.1 CD B-NP +% NN I-NP +of IN B-PP +Americans NNPS B-NP +, , O +or CC O +31.9 CD B-NP +million CD I-NP +people NNS I-NP +, , O +were VBD B-VP +living VBG I-VP +in IN B-PP +poverty NN B-NP +in IN B-PP +1988 CD B-NP +. . O + +While IN B-SBAR +last JJ B-NP +year NN I-NP +'s POS B-NP +figure NN I-NP +was VBD B-VP +down RB B-ADVP +from IN B-PP +13.4 CD B-NP +% NN I-NP +in IN B-PP +1987 CD B-NP +and CC O +marked VBD B-VP +the DT B-NP +fifth JJ I-NP +consecutive JJ I-NP +annual JJ I-NP +decline NN I-NP +in IN B-PP +the DT B-NP +poverty NN I-NP +rate NN I-NP +, , O +the DT B-NP +Census NNP I-NP +Bureau NNP I-NP +said VBD B-VP +the DT B-NP +1988 CD I-NP +drop NN I-NP +was VBD B-VP +n't RB O +statistically RB B-ADJP +significant JJ I-ADJP +. . O + +The DT B-NP +bureau NN I-NP +'s POS B-NP +report NN I-NP +also RB B-ADVP +showed VBD B-VP +that IN B-SBAR +while IN B-SBAR +some DT B-NP +measures NNS I-NP +of IN B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +economic JJ I-NP +well-being NN I-NP +improved VBN B-VP +modestly RB B-ADVP +in IN B-PP +1988 CD B-NP +, , O +the DT B-NP +fruits NNS I-NP +of IN B-PP +prosperity NN B-NP +were VBD B-VP +shared VBN I-VP +less RBR B-ADVP +equitably RB I-ADVP +than IN B-PP +the DT B-NP +year NN I-NP +before RB B-ADVP +. . O + +Summarizing VBG B-VP +data NNS B-NP +derived VBN B-VP +from IN B-PP +a DT B-NP +March NNP I-NP +1989 CD I-NP +survey NN I-NP +of IN B-PP +58,000 CD B-NP +households NNS I-NP +, , O +William NNP B-NP +Butz NNP I-NP +, , O +associate JJ B-NP +director NN I-NP +of IN B-PP +the DT B-NP +Census NNP I-NP +Bureau NNP I-NP +, , O +said VBD B-VP +that IN B-SBAR +`` `` O +most RBS B-NP +groups NNS I-NP +either DT O +stayed VBD B-VP +the DT B-NP +same JJ I-NP +or CC O +improved VBN B-VP +. . O +'' '' O + +But CC O +, , O +he PRP B-NP +added VBD B-VP +, , O +`` `` O +Since IN B-PP +the DT B-NP +late JJ I-NP +1960s CD I-NP +, , O +the DT B-NP +distribution NN I-NP +of IN B-PP +income NN B-NP +has VBZ B-VP +been VBN I-VP +slowly RB I-VP +getting VBG I-VP +less RBR B-ADJP +equal JJ I-ADJP +. . O + +There EX B-NP +was VBD B-VP +no DT B-NP +reversal NN I-NP +-LCB- ( O +of IN B-PP +that DT B-NP +trend NN I-NP +-RCB- ) O +between IN B-PP +1987 CD B-NP +and CC I-NP +1988 CD I-NP +. . O +'' '' O + +Per IN B-NP +capita NNS I-NP +income NN I-NP +, , O +a DT B-NP +widely RB I-NP +used VBN I-NP +measure NN I-NP +of IN B-PP +a DT B-NP +nation NN I-NP +'s POS B-NP +economic JJ I-NP +health NN I-NP +, , O +hit VBD B-VP +a DT B-NP +record NN I-NP +in IN B-PP +1988 CD B-NP +, , O +rising VBG B-VP +1.7 CD B-NP +% NN I-NP +after IN B-PP +inflation NN B-NP +adjustment NN I-NP +to TO B-PP +$ $ B-NP +13,120 CD I-NP +. . O + +But CC O +the DT B-NP +median JJ I-NP +income NN I-NP +of IN B-PP +American JJ B-NP +families NNS I-NP +fell VBD B-VP +0.2 CD B-NP +% NN I-NP +, , O +the DT B-NP +first JJ I-NP +time NN I-NP +it PRP B-NP +has VBZ B-VP +failed VBN I-VP +to TO I-VP +rise VB I-VP +since IN B-PP +1982 CD B-NP +. . O + +Mr. NNP B-NP +Butz NNP I-NP +said VBD B-VP +the DT B-NP +divergence NN I-NP +in IN B-PP +the DT B-NP +two CD I-NP +measures NNS I-NP +reflects VBZ B-VP +changes NNS B-NP +in IN B-PP +family NN B-NP +size NN I-NP +and CC I-NP +structure NN I-NP +, , O +including VBG B-PP +the DT B-NP +rising VBG I-NP +number NN I-NP +of IN B-PP +female-headed JJ B-NP +families NNS I-NP +and CC O +a DT B-NP +sharp JJ I-NP +increase NN I-NP +in IN B-PP +income NN B-NP +reported VBN B-VP +by IN B-PP +Americans NNPS B-NP +who WP B-NP +are VBP B-VP +n't RB I-VP +living VBG I-VP +in IN B-PP +families NNS B-NP +. . O + +As IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +last JJ B-NP +year NN I-NP +'s POS B-NP +decline NN I-NP +, , O +the DT B-NP +government NN I-NP +'s POS B-NP +estimate NN I-NP +for IN B-PP +the DT B-NP +number NN I-NP +of IN B-PP +people NNS B-NP +living VBG B-VP +below IN B-PP +the DT B-NP +poverty NN I-NP +line NN I-NP +declined VBN B-VP +by IN B-PP +about IN B-NP +500,000 CD I-NP +. . O + +The DT B-NP +poverty NN I-NP +threshold NN I-NP +, , O +defined VBN B-VP +as IN B-PP +three CD B-NP +times NNS I-NP +food NN B-NP +expenses NNS I-NP +as IN B-SBAR +calculated VBN B-VP +by IN B-PP +the DT B-NP +Agricultural NNP I-NP +Department NNP I-NP +, , O +last JJ B-NP +year NN I-NP +was VBD B-VP +$ $ B-NP +12,092 CD I-NP +for IN B-PP +a DT B-NP +family NN I-NP +of IN B-PP +four CD B-NP +. . O + +The DT B-NP +Census NNP I-NP +Bureau NNP I-NP +counts VBZ B-VP +all DT B-NP +cash NN I-NP +income NN I-NP +in IN B-PP +determining VBG B-VP +whether IN B-SBAR +families NNS B-NP +are VBP B-VP +below IN B-PP +the DT B-NP +line NN I-NP +, , O +but CC O +it PRP B-NP +does VBZ B-VP +n't RB I-VP +consider VB I-VP +other JJ B-NP +government NN I-NP +benefits NNS I-NP +, , O +such JJ B-PP +as IN I-PP +Medicare NNP B-NP +. . O + +Thanks NNS B-NP +largely RB B-ADVP +to TO B-PP +the DT B-NP +continued VBN I-NP +growth NN I-NP +of IN B-PP +the DT B-NP +U.S. NNP I-NP +economy NN I-NP +, , O +the DT B-NP +poverty NN I-NP +rate NN I-NP +is VBZ B-VP +now RB B-ADVP +substantially RB B-ADJP +lower JJR I-ADJP +than IN B-PP +the DT B-NP +1983 CD I-NP +peak NN I-NP +of IN B-PP +15.3 CD B-NP +% NN I-NP +, , O +but CC O +the DT B-NP +improvements NNS I-NP +have VBP B-VP +been VBN I-VP +modest JJ B-ADJP +in IN B-PP +the DT B-NP +past JJ I-NP +couple NN I-NP +of IN B-PP +years NNS B-NP +. . O + +Poverty NN B-NP +remains VBZ B-VP +far RB B-ADJP +more RBR I-ADJP +widespread JJ I-ADJP +among IN B-PP +blacks NNS B-NP +than IN B-PP +other JJ B-NP +Americans NNPS I-NP +. . O + +In IN B-PP +1988 CD B-NP +, , O +31.6 CD B-NP +% NN I-NP +of IN B-PP +blacks NNS B-NP +lived VBD B-VP +in IN B-PP +poverty NN B-NP +, , O +compared VBN B-PP +with IN B-PP +10.1 CD B-NP +% NN I-NP +for IN B-PP +whites NNS B-NP +and CC O +26.8 CD B-NP +% NN I-NP +for IN B-PP +Hispanics NNPS B-NP +. . O + +But CC O +two-thirds NNS B-NP +of IN B-PP +all DT B-NP +poor JJ I-NP +Americans NNPS I-NP +were VBD B-VP +white JJ B-ADJP +. . O + +More RBR B-NP +than IN I-NP +half NN I-NP +of IN B-PP +poor JJ B-NP +families NNS I-NP +were VBD B-VP +headed VBN I-VP +by IN B-PP +women NNS B-NP +living VBG B-VP +without IN B-PP +men NNS B-NP +, , O +the DT B-NP +bureau NN I-NP +said VBD B-VP +. . O + +More RBR B-NP +than IN I-NP +three-fourths JJ I-NP +of IN B-PP +poor JJ B-NP +black JJ I-NP +families NNS I-NP +were VBD B-VP +headed VBN I-VP +by IN B-PP +women NNS B-NP +. . O + +The DT B-NP +poverty NN I-NP +rate NN I-NP +of IN B-PP +children NNS B-NP +under IN B-NP +18 CD I-NP +years NNS I-NP +old JJ B-ADJP +dropped VBD B-VP +last JJ B-NP +year NN I-NP +to TO B-PP +19.7 CD B-NP +% NN I-NP +from IN B-PP +20.5 CD B-NP +% NN I-NP +in IN B-PP +1987 CD B-NP +, , O +but CC O +remained VBD B-VP +far RB B-ADJP +higher JJR I-ADJP +than IN B-PP +a DT B-NP +decade NN I-NP +ago RB B-ADVP +. . O + +The DT B-NP +rate NN I-NP +among IN B-PP +the DT B-NP +elderly JJ I-NP +-- : O +12 CD B-NP +% NN I-NP +in IN B-PP +1988 CD B-NP +-- : O +was VBD B-VP +n't RB O +significantly RB B-ADJP +lower JJR I-ADJP +than IN B-PP +the DT B-NP +year NN I-NP +before RB B-ADVP +. . O + +If IN B-SBAR +it PRP B-NP +were VBD B-VP +n't RB O +for IN B-PP +Social NNP B-NP +Security NNP I-NP +payments NNS I-NP +, , O +more JJR B-NP +than IN I-NP +three CD I-NP +times NNS I-NP +as IN I-NP +many JJ I-NP +elderly NN I-NP +would MD B-VP +be VB I-VP +below IN B-PP +the DT B-NP +poverty NN I-NP +line NN I-NP +, , O +Mr. NNP B-NP +Butz NNP I-NP +said VBD B-VP +. . O + +The DT B-NP +Census NNP I-NP +Bureau NNP I-NP +also RB B-ADVP +said VBD B-VP +: : O + +-- : O +Some DT B-NP +17.2 CD I-NP +% NN I-NP +of IN B-PP +all DT B-NP +money NN I-NP +income NN I-NP +received VBN B-VP +by IN B-PP +families NNS B-NP +in IN B-PP +1988 CD B-NP +went VBD B-VP +to TO B-PP +the DT B-NP +wealthiest JJS I-NP +5 NN I-NP +% NN I-NP +of IN B-PP +all DT B-NP +families NNS I-NP +, , O +up IN B-ADVP +from IN B-PP +16.9 CD B-NP +% NN I-NP +in IN B-PP +1987 CD B-NP +. . O + +That DT B-NP +is VBZ B-VP +the DT B-NP +greatest JJS I-NP +share NN I-NP +reported VBD B-VP +for IN B-PP +any DT B-NP +year NN I-NP +since IN B-PP +1950 CD B-NP +, , O +although IN B-SBAR +changing VBG B-NP +definitions NNS I-NP +over IN B-PP +the DT B-NP +years NNS I-NP +distort VBP B-VP +the DT B-NP +comparison NN I-NP +. . O + +-- : O +The DT B-NP +top JJ I-NP +fifth NN I-NP +of IN B-PP +all DT B-NP +families NNS I-NP +got VBD B-VP +44 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +income NN I-NP +, , O +up IN B-ADVP +from IN B-PP +41.5 CD B-NP +% NN I-NP +a DT B-NP +decade NN I-NP +earlier RBR B-ADVP +. . O + +The DT B-NP +bottom NN I-NP +fifth NN I-NP +of IN B-PP +all DT B-NP +families NNS I-NP +got VBD B-VP +4.6 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +income NN I-NP +, , O +down RB B-ADVP +from IN B-PP +5.2 CD B-NP +% NN I-NP +a DT B-NP +decade NN I-NP +earlier RBR B-ADVP +. . O + +-- : O +Confirming VBG B-VP +other JJ B-NP +government NN I-NP +data NNS I-NP +showing VBG B-VP +that IN B-SBAR +wages NNS B-NP +are VBP B-VP +n't RB I-VP +keeping VBG I-VP +pace NN B-NP +with IN B-PP +inflation NN B-NP +, , O +earnings NNS B-NP +of IN B-PP +year-round JJ B-NP +, , I-NP +full-time JJ I-NP +male JJ I-NP +workers NNS I-NP +fell VBD B-VP +1.3 CD B-NP +% NN I-NP +in IN B-PP +1988 CD B-NP +after IN B-PP +adjusting VBG B-VP +for IN B-PP +higher JJR B-NP +prices NNS I-NP +, , O +the DT B-NP +first JJ I-NP +such JJ I-NP +drop NN I-NP +since IN B-PP +1982 CD B-NP +. . O + +Earnings NNS B-NP +of IN B-PP +female JJ B-NP +workers NNS I-NP +were VBD B-VP +unchanged JJ B-ADJP +. . O + +-- : O +Women NNP B-NP +working VBG B-VP +full-time JJ B-ADVP +earned VBD B-VP +66 CD B-NP +cents NNS I-NP +for IN B-PP +every DT B-NP +dollar NN I-NP +earned VBN B-VP +by IN B-PP +men NNS B-NP +, , O +a DT B-NP +penny NN I-NP +more JJR B-ADJP +than IN B-PP +in IN B-PP +1987 CD B-NP +and CC O +seven CD B-NP +cents NNS I-NP +more JJR B-ADJP +than IN B-PP +in IN B-PP +1978 CD B-NP +. . O + +-- : O +Median JJ B-NP +household NN I-NP +income NN I-NP +-- : O +which WDT B-NP +includes VBZ B-VP +both DT B-NP +those DT B-NP +living VBG B-VP +in IN B-PP +families NNS B-NP +and CC O +those DT B-NP +who WP B-NP +are VBP B-VP +n't RB O +-- : O +rose VBD B-VP +0.3 CD B-NP +% NN I-NP +last JJ B-NP +year NN I-NP +to TO B-PP +$ $ B-NP +27,225 CD I-NP +after IN B-PP +inflation NN B-NP +. . O + +It PRP B-NP +rose VBD B-VP +sharply RB B-ADVP +in IN B-PP +the DT B-NP +Northeast NNP I-NP +and CC I-NP +Midwest NNP I-NP +and CC O +fell VBD B-VP +slightly RB B-ADVP +in IN B-PP +the DT B-NP +South NNP I-NP +and CC I-NP +West NNP I-NP +. . O + +Median JJ B-NP +family NN I-NP +income NN I-NP +was VBD B-VP +$ $ B-NP +32,191 CD I-NP +, , O +down RB B-ADVP +0.2 CD B-NP +% NN I-NP +. . O + +-- : O +Per IN B-NP +capita NNS I-NP +income NN I-NP +of IN B-PP +blacks NNS B-NP +, , O +though IN B-SBAR +still RB B-ADVP +only RB B-NP +60 CD I-NP +% NN I-NP +that IN I-NP +of IN B-PP +whites NNS B-NP +, , O +rose VBD B-VP +3.9 CD B-NP +% NN I-NP +in IN B-PP +1988 CD B-NP +, , O +while IN B-SBAR +per IN B-NP +capita NNS I-NP +income NN I-NP +of IN B-PP +whites NNS B-NP +rose VBD B-VP +only RB B-NP +1.5 CD I-NP +% NN I-NP +. . O + +-- : O +Among IN B-PP +married VBN B-NP +couples NNS I-NP +, , O +the DT B-NP +gap NN I-NP +between IN B-PP +blacks NNS B-NP +and CC I-NP +whites NNS I-NP +narrowed VBD B-VP +sharply RB B-ADVP +, , O +as IN B-SBAR +income NN B-NP +of IN B-PP +black JJ B-NP +families NNS I-NP +shot NN B-VP +up IN B-ADVP +6.8 CD B-NP +% NN I-NP +while IN O +income NN B-NP +of IN B-PP +whites NNS B-NP +did VBD B-VP +n't RB I-VP +budge VB I-VP +. . O + +Fueling VBG B-VP +a DT B-NP +controversy NN I-NP +that WDT B-NP +has VBZ B-VP +been VBN I-VP +simmering VBG I-VP +for IN B-PP +years NNS B-NP +, , O +the DT B-NP +Census NNP I-NP +Bureau NNP I-NP +also RB B-ADVP +said VBD B-VP +its PRP$ B-NP +figures NNS I-NP +would MD B-VP +look VB I-VP +far RB B-ADJP +rosier JJR I-ADJP +if IN B-SBAR +it PRP B-NP +recalculated VBD B-VP +the DT B-NP +poverty NN I-NP +threshold NN I-NP +using VBG B-VP +an DT B-NP +improved VBN I-NP +consumer-price JJ I-NP +measure NN I-NP +adopted VBN B-VP +in IN B-PP +1983 CD B-NP +. . O + +The DT B-NP +bureau NN I-NP +said VBD B-VP +some DT B-NP +3.5 CD I-NP +million CD I-NP +fewer JJR B-NP +people NNS I-NP +would MD B-VP +have VB I-VP +fallen VBN I-VP +below IN B-PP +the DT B-NP +poverty NN I-NP +line NN I-NP +in IN B-PP +1988 CD B-NP +-- : O +and CC O +the DT B-NP +poverty NN I-NP +rate NN I-NP +would MD B-VP +have VB I-VP +been VBN I-VP +10.5 CD B-NP +% NN I-NP +instead RB B-CONJP +of IN I-CONJP +13.1 CD B-NP +% NN I-NP +-- : O +under IN B-PP +the DT B-NP +alternative NN I-NP +calculation NN I-NP +. . O + +Critics NNS B-NP +on IN B-PP +the DT B-NP +left VBN I-NP +and CC I-NP +right NN I-NP +have VBP B-VP +been VBN I-VP +calling VBG I-VP +for IN B-PP +all DT B-NP +sorts NNS I-NP +of IN B-PP +revisions NNS B-NP +to TO B-PP +the DT B-NP +measure NN I-NP +for IN B-PP +years NNS B-NP +. . O + +A DT B-NP +report NN I-NP +by IN B-PP +the DT B-NP +staff NN I-NP +of IN B-PP +the DT B-NP +Joint NNP I-NP +Economic NNP I-NP +Committee NNP I-NP +of IN B-PP +Congress NNP B-NP +released VBD B-VP +yesterday NN B-NP +concluded VBD B-VP +, , O +`` `` O +It PRP B-NP +is VBZ B-VP +misleading JJ B-ADJP +to TO B-VP +make VB I-VP +this DT B-NP +change NN I-NP +without IN B-PP +adjusting VBG B-VP +for IN B-PP +other JJ B-NP +changes NNS I-NP +. . O +'' '' O + +The DT B-NP +official JJ I-NP +poverty NN I-NP +threshold NN I-NP +is VBZ B-VP +set VBN I-VP +by IN B-PP +the DT B-NP +Office NNP I-NP +of IN B-PP +Management NNP B-NP +and CC I-NP +Budget NNP I-NP +. . O + +John NNP B-NP +E. NNP I-NP +Hayes NNP I-NP +Jr. NNP I-NP +was VBD B-VP +elected VBN I-VP +chairman NN B-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +, , O +succeeding VBG B-VP +David NNP B-NP +S. NNP I-NP +Black NNP I-NP +, , O +who WP B-NP +retired VBD B-VP +. . O + +Mr. NNP B-NP +Hayes NNP I-NP +, , O +52 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +left VBN B-VP +Southwestern NNP B-NP +Bell NNP I-NP +Telephone NNP I-NP +Co. NNP I-NP +in IN B-PP +January NNP B-NP +, , O +where WRB B-ADVP +he PRP B-NP +had VBD B-VP +been VBN I-VP +chairman NN B-NP +, , O +president NN B-NP +and CC O +chief JJ B-NP +executive NN I-NP +, , O +to TO B-VP +join VB I-VP +Triad NNP B-NP +Capital NNP I-NP +Partners NNPS I-NP +, , O +a DT B-NP +St. NNP I-NP +Louis NNP I-NP +company NN I-NP +with IN B-PP +interests NNS B-NP +in IN B-PP +solid JJ B-NP +waste NN I-NP +and CC O +recycling NN B-NP +, , O +telecommunications NNS B-NP +and CC O +international JJ B-NP +venture NN I-NP +capital NN I-NP +. . O + +He PRP B-NP +has VBZ B-VP +resigned VBN I-VP +his PRP$ B-NP +posts NNS I-NP +at IN B-PP +Triad NNP B-NP +to TO B-VP +take VB I-VP +the DT B-NP +Kansas NNP I-NP +Power NNP I-NP +positions NNS I-NP +. . O + +Kansas NNP B-NP +Power NNP I-NP +said VBD B-VP +Mr. NNP B-NP +Black NNP I-NP +, , O +61 CD B-NP +, , O +chose VBD B-VP +early JJ B-NP +retirement NN I-NP +. . O + +The DT B-NP +space NN I-NP +shuttle NN I-NP +Atlantis NNP I-NP +boosted VBD B-VP +the DT B-NP +Galileo NNP I-NP +spacecraft NN I-NP +on IN B-PP +its PRP$ B-NP +way NN I-NP +to TO B-PP +Jupiter NNP B-NP +, , O +giving VBG B-VP +a DT B-NP +big JJ I-NP +lift NN I-NP +as IN B-ADVP +well RB I-ADVP +to TO B-PP +an DT B-NP +ambitious JJ I-NP +U.S. NNP I-NP +program NN I-NP +of IN B-PP +space NN B-NP +exploration NN I-NP +. . O + +Seven CD B-NP +years NNS I-NP +late RB B-ADJP +in IN B-PP +the DT B-NP +launching NN I-NP +, , O +$ $ B-NP +1 CD I-NP +billion CD I-NP +over IN B-PP +budget NN B-NP +and CC O +a DT B-NP +target NN I-NP +of IN B-PP +anti-nuclear JJ B-NP +protestors NNS I-NP +, , O +Galileo NNP B-NP +has VBZ B-VP +long RB I-VP +been VBN I-VP +a DT B-NP +symbol NN I-NP +of IN B-PP +trouble NN B-NP +for IN B-PP +the DT B-NP +National NNP I-NP +Aeronautics NNP I-NP +and CC I-NP +Space NNP I-NP +Administration NNP I-NP +. . O + +But CC O +yesterday NN B-NP +, , O +as IN B-SBAR +Atlantis NNP B-NP +rumbled VBD B-VP +into IN B-PP +a DT B-NP +patch NN I-NP +of IN B-PP +clear JJ B-NP +sky NN I-NP +above IN B-PP +Florida NNP B-NP +with IN B-PP +storm NN B-NP +clouds NNS I-NP +closing VBG B-VP +in IN B-PRT +on IN B-PP +it PRP B-NP +, , O +NASA NNP B-NP +sought VBD B-VP +to TO I-VP +turn VB I-VP +Galileo NNP B-NP +into IN B-PP +a DT B-NP +symbol NN I-NP +of IN B-PP +triumph NN B-NP +. . O + +`` `` O +NASA NNP B-NP +did VBD B-VP +it PRP B-NP +right NN B-ADVP +; : O +that DT B-NP +'s VBZ B-VP +the DT B-NP +message NN I-NP +, , O +'' '' O +said VBD B-VP +J.R. NNP B-NP +Thompson NNP I-NP +, , O +the DT B-NP +agency NN I-NP +'s POS B-NP +deputy NN I-NP +administrator NN I-NP +. . O + +The DT B-NP +$ $ I-NP +1.4 CD I-NP +billion CD I-NP +robot NN I-NP +spacecraft NN I-NP +faces VBZ B-VP +a DT B-NP +six-year JJ I-NP +journey NN I-NP +to TO B-VP +explore VB I-VP +Jupiter NNP B-NP +and CC O +its PRP$ B-NP +16 CD I-NP +known VBN I-NP +moons NNS I-NP +. . O + +If IN B-SBAR +all DT B-NP +goes VBZ B-VP +well RB B-ADVP +, , O +it PRP B-NP +will MD B-VP +parachute VB I-VP +a DT B-NP +probe NN I-NP +into IN B-PP +the DT B-NP +dense JJ I-NP +Jovian JJ I-NP +atmosphere NN I-NP +in IN B-PP +July NNP B-NP +1995 CD I-NP +to TO B-VP +pick VB I-VP +up IN B-PRT +detailed VBN B-NP +data NNS I-NP +about IN B-PP +gases NNS B-NP +that WDT B-NP +may MD B-VP +be VB I-VP +similar JJ B-ADJP +to TO B-PP +the DT B-NP +material NN I-NP +from IN B-PP +which WDT B-NP +the DT B-NP +solar JJ I-NP +system NN I-NP +was VBD B-VP +formed VBN I-VP +4.6 CD B-NP +billion CD I-NP +years NNS I-NP +ago RB B-ADVP +. . O + +Jupiter NNP B-NP +is VBZ B-VP +so RB B-ADJP +enormous JJ I-ADJP +-- : O +its PRP$ B-NP +mass NN I-NP +is VBZ B-VP +318 CD B-NP +times NNS I-NP +that IN I-NP +of IN B-PP +Earth NNP B-NP +-- : O +that IN B-SBAR +its PRP$ B-NP +gravity NN I-NP +may MD B-VP +have VB I-VP +trapped VBN I-VP +these DT B-NP +primordial JJ I-NP +gases NNS I-NP +and CC O +never RB B-VP +let VB I-VP +them PRP B-NP +escape VB B-VP +. . O + +Investigating VBG B-VP +Jupiter NNP B-NP +in IN B-PP +detail NN B-NP +may MD B-VP +provide VB I-VP +clues NNS B-NP +to TO B-PP +what WP B-NP +astronomer NN B-NP +Tobias NNP I-NP +Owen NNP I-NP +calls VBZ B-VP +the DT B-NP +`` `` I-NP +cosmic JJ I-NP +paradox NN I-NP +'' '' O +of IN B-PP +life NN B-NP +: : O +Jupiter NNP B-NP +and CC O +other JJ B-NP +bodies NNS I-NP +in IN B-PP +the DT B-NP +outer JJ I-NP +solar JJ I-NP +system NN I-NP +are VBP B-VP +rich JJ B-ADJP +in IN B-PP +elements NNS B-NP +such JJ B-PP +as IN I-PP +hydrogen NN B-NP +that WDT B-NP +are VBP B-VP +essential JJ B-ADJP +for IN B-PP +life NN B-NP +on IN B-PP +Earth NNP B-NP +, , O +but CC O +these DT B-NP +planets NNS I-NP +are VBP B-VP +lifeless JJ B-ADJP +; : O +Earth NNP B-NP +, , O +on IN B-PP +the DT B-NP +other JJ I-NP +hand NN I-NP +, , O +has VBZ B-VP +a DT B-NP +diminished VBN I-NP +store NN I-NP +of IN B-PP +such JJ B-NP +material NN I-NP +but CC O +is VBZ B-VP +rich JJ B-ADJP +in IN B-PP +life NN B-NP +. . O + +Some DT B-NP +scientists NNS I-NP +have VBP B-VP +suggested VBN I-VP +that IN B-SBAR +comets NNS B-NP +and CC I-NP +asteroids NNS I-NP +may MD B-VP +have VB I-VP +brought VBN I-VP +enough RB B-NP +of IN B-PP +this DT B-NP +kind NN I-NP +of IN B-PP +material NN B-NP +from IN B-PP +the DT B-NP +outer JJ I-NP +solar JJ I-NP +system NN I-NP +to TO B-PP +Earth NNP B-NP +to TO B-VP +spawn VB I-VP +life NN B-NP +. . O + +Beginning VBG B-PP +in IN B-PP +December NNP B-NP +1995 CD I-NP +, , O +Galileo NNP B-NP +will MD B-VP +begin VB I-VP +a DT B-NP +two-year JJ I-NP +tour NN I-NP +of IN B-PP +the DT B-NP +Jovian JJ I-NP +moons NNS I-NP +. . O + +In IN B-PP +1979 CD B-NP +, , O +two CD B-NP +Voyager NNP I-NP +spacecraft NN I-NP +sent VBD B-VP +back RB B-ADVP +stunning JJ B-NP +photos NNS I-NP +of IN B-PP +Jovian JJ B-NP +moons NNS I-NP +Io NNP I-NP +and CC I-NP +Europa NNP I-NP +that WDT B-NP +showed VBD B-VP +them PRP B-NP +to TO B-VP +be VB I-VP +among IN B-PP +the DT B-NP +most RBS I-NP +intriguing JJ I-NP +bodies NNS I-NP +in IN B-PP +the DT B-NP +solar JJ I-NP +system NN I-NP +. . O + +The DT B-NP +photos NNS I-NP +showed VBD B-VP +active JJ B-NP +geysers NNS I-NP +on IN B-PP +Io NNP B-NP +spewing VBG B-VP +sulfurous JJ B-NP +material NN I-NP +190 CD B-NP +miles NNS I-NP +into IN B-PP +its PRP$ B-NP +atmosphere NN I-NP +and CC O +indicated VBD B-VP +that IN B-SBAR +Europa NNP B-NP +may MD B-VP +have VB I-VP +an DT B-NP +ocean NN I-NP +hidden VBN B-VP +under IN B-PP +a DT B-NP +thick JJ I-NP +sheet NN I-NP +of IN B-PP +ice NN B-NP +. . O + +Galileo NNP B-NP +'s POS B-NP +photos NNS I-NP +of IN B-PP +Europa NNP B-NP +will MD B-VP +be VB I-VP +more JJR B-ADJP +than IN I-ADJP +1,000 CD I-ADJP +times NNS I-ADJP +as RB I-ADJP +sharp JJ I-ADJP +as IN B-PP +Voyager NNP B-NP +'s POS B-NP +, , O +according VBG B-PP +to TO B-PP +Torrence NNP B-NP +Johnson NNP I-NP +, , O +Galileo NNP B-NP +'s POS B-NP +project NN I-NP +scientist NN I-NP +, , O +and CC O +may MD B-VP +show VB I-VP +whether IN B-SBAR +it PRP B-NP +actually RB B-ADVP +has VBZ B-VP +the DT B-NP +only RB I-NP +known VBN I-NP +ocean NN I-NP +other JJ B-PP +than IN I-PP +those DT B-NP +on IN B-PP +Earth NNP B-NP +. . O + +Atlantis NNP B-NP +lifted VBD B-VP +Galileo NNP B-NP +from IN B-PP +the DT B-NP +launch NN I-NP +pad NN I-NP +at IN B-PP +12:54 CD B-NP +p.m. NN I-NP +EDT NNP I-NP +and CC O +released VBD B-VP +the DT B-NP +craft NN I-NP +from IN B-PP +its PRP$ B-NP +cargo NN I-NP +bay NN I-NP +about IN B-NP +six CD I-NP +hours NNS I-NP +later RB B-ADVP +. . O + +`` `` O +Galileo NNP B-NP +is VBZ B-VP +on IN B-PP +its PRP$ B-NP +way NN I-NP +to TO B-PP +another DT B-NP +world NN I-NP +in IN B-PP +the DT B-NP +hands NNS I-NP +of IN B-PP +the DT B-NP +best JJS I-NP +flight NN I-NP +controllers NNS I-NP +in IN B-PP +this DT B-NP +world NN I-NP +, , O +'' '' O +Atlantis NNP B-NP +Commander NNP I-NP +Donald NNP I-NP +Williams NNP I-NP +said VBD B-VP +. . O + +`` `` O +Fly VB B-VP +safely RB B-ADVP +. . O +'' '' O + +The DT B-NP +five-member JJ I-NP +Atlantis NNP I-NP +crew NN I-NP +will MD B-VP +conduct VB I-VP +several JJ B-NP +experiments NNS I-NP +, , O +including VBG B-PP +growing VBG B-VP +plants NNS B-NP +and CC O +processing VBG B-VP +polymeric JJ B-NP +materials NNS I-NP +in IN B-PP +space NN B-NP +, , O +before IN B-PP +their PRP$ B-NP +scheduled VBN I-NP +landing NN I-NP +at IN B-PP +Edwards NNP B-NP +Air NNP I-NP +Force NNP I-NP +Base NNP I-NP +, , O +Calif. NNP B-NP +, , O +Monday NNP B-NP +. . O + +The DT B-NP +Galileo NNP I-NP +project NN I-NP +started VBD B-VP +in IN B-PP +1977 CD B-NP +, , O +and CC O +a DT B-NP +number NN I-NP +of IN B-PP +project NN B-NP +veterans NNS I-NP +were VBD B-VP +on IN B-PP +hand NN B-NP +to TO B-VP +watch VB I-VP +the DT B-NP +launch NN I-NP +. . O + +An DT B-NP +ebullient JJ I-NP +Mr. NNP I-NP +Johnson NNP I-NP +, , O +wearing VBG B-VP +a DT B-NP +NASA NNP I-NP +baseball NN I-NP +cap NN I-NP +and CC O +carrying VBG B-VP +a DT B-NP +camera NN I-NP +and CC O +binoculars NNS B-NP +, , O +called VBD B-VP +the DT B-NP +launch NN I-NP +`` `` O +fantastic JJ B-ADJP +. . O +'' '' O + +Benny NNP B-NP +Chin NNP I-NP +, , O +manager NN B-NP +of IN B-PP +the DT B-NP +Galileo NNP I-NP +probe NN I-NP +, , O +compared VBD B-VP +it PRP B-NP +to TO B-PP +watching VBG B-VP +a DT B-NP +child NN I-NP +leave NN B-VP +home NN B-NP +. . O + +`` `` O +I PRP B-NP +'m VBP B-VP +happy JJ B-ADJP +and CC I-ADJP +sad JJ I-ADJP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +Anti-nuclear JJ B-NP +activists NNS I-NP +took VBD B-VP +a DT B-NP +less RBR I-NP +positive JJ I-NP +view NN I-NP +. . O + +Having VBG B-VP +argued VBN I-VP +that IN B-SBAR +Galileo NNP B-NP +'s POS B-NP +plutonium NN I-NP +power NN I-NP +source NN I-NP +could MD B-VP +have VB I-VP +released VBN I-VP +lethal JJ B-NP +doses NNS I-NP +of IN B-PP +radiation NN B-NP +if IN B-SBAR +the DT B-NP +shuttle NN I-NP +exploded VBD B-VP +yesterday NN B-NP +, , O +they PRP B-NP +were VBD B-VP +n't RB I-VP +quieted VBN I-VP +by IN B-PP +yesterday NN B-NP +'s POS B-NP +successful JJ I-NP +launch NN I-NP +. . O + +Galileo NNP B-NP +will MD B-VP +skim VB I-VP +past JJ B-PP +Earth NNP B-NP +in IN B-PP +1990 CD B-NP +and CC I-NP +1992 CD I-NP +, , O +collecting VBG B-VP +energy NN B-NP +from IN B-PP +the DT B-NP +planet NN I-NP +'s POS B-NP +gravitational JJ I-NP +field NN I-NP +to TO B-VP +gain VB I-VP +momentum NN B-NP +for IN B-PP +its PRP$ B-NP +trip NN I-NP +to TO B-PP +Jupiter NNP B-NP +. . O + +The DT B-NP +protesters NNS I-NP +point VBP B-VP +out RP B-PRT +that IN B-SBAR +Galileo NNP B-NP +also RB B-ADVP +could MD B-VP +crash VB I-VP +to TO B-PP +Earth NNP B-NP +then RB B-ADVP +. . O + +They PRP B-NP +said VBD B-VP +they PRP B-NP +dropped VBD B-VP +plans NNS B-NP +to TO B-VP +infiltrate VB I-VP +the DT B-NP +Kennedy NNP I-NP +Space NNP I-NP +Center NNP I-NP +after IN B-SBAR +NASA NNP B-NP +beefed VBD B-VP +up IN B-PRT +its PRP$ B-NP +security NN I-NP +. . O + +One CD B-NP +protest NN I-NP +did VBD B-VP +get VB I-VP +past JJ B-PP +NASA NNP B-NP +'s POS B-NP +guard NN I-NP +, , O +though IN B-ADVP +; : O +a DT B-NP +computer NN I-NP +virus NN I-NP +caused VBD B-VP +anti-Galileo JJ B-NP +messages NNS I-NP +to TO B-VP +flash VB I-VP +onto IN B-PP +some DT B-NP +computer NN I-NP +screens NNS I-NP +at IN B-PP +NASA NNP B-NP +centers NNS I-NP +. . O + +The DT B-NP +successful JJ I-NP +launch NN I-NP +continues VBZ B-VP +a DT B-NP +remarkable JJ I-NP +recovery NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +space-science NN I-NP +program NN I-NP +. . O + +An DT B-NP +unmanned JJ I-NP +spacecraft NN I-NP +, , O +Magellan NNP B-NP +, , O +already RB B-VP +is VBZ I-VP +heading VBG I-VP +to TO B-PP +Venus NNP B-NP +and CC O +is VBZ B-VP +due JJ B-ADJP +to TO B-VP +begin VB I-VP +mapping VBG I-VP +the DT B-NP +planet NN I-NP +next JJ B-NP +August NNP I-NP +. . O + +Voyager NNP B-NP +2 CD I-NP +sent VBD B-VP +back RB B-ADVP +spectacular JJ B-NP +photos NNS I-NP +of IN B-PP +Neptune NNP B-NP +and CC O +its PRP$ B-NP +moon NN I-NP +, , O +Triton NNP B-NP +, , O +this DT B-NP +summer NN I-NP +. . O + +Next JJ B-NP +month NN I-NP +, , O +NASA NNP B-NP +plans VBZ B-VP +to TO I-VP +launch VB I-VP +a DT B-NP +satellite NN I-NP +to TO B-VP +study VB I-VP +cosmic JJ B-NP +rays NNS I-NP +dating VBG B-VP +from IN B-PP +the DT B-NP +birth NN I-NP +of IN B-PP +the DT B-NP +universe NN I-NP +. . O + +In IN B-PP +December NNP B-NP +, , O +the DT B-NP +shuttle NN I-NP +Columbia NNP I-NP +will MD B-VP +try VB I-VP +to TO I-VP +retrieve VB I-VP +a DT B-NP +satellite NN I-NP +that WDT B-NP +'s VBZ B-VP +been VBN I-VP +in IN B-PP +orbit NN B-NP +for IN B-PP +nearly RB B-NP +five CD I-NP +years NNS I-NP +measuring VBG B-VP +the DT B-NP +deleterious JJ I-NP +effects NNS I-NP +of IN B-PP +space NN B-NP +on IN B-PP +materials NNS B-NP +and CC I-NP +instruments NNS I-NP +. . O + +Next NNP B-NP +March NNP I-NP +, , O +the DT B-NP +shuttle NN I-NP +Discovery NNP I-NP +will MD B-VP +launch VB I-VP +the DT B-NP +Hubble NNP I-NP +space NN I-NP +telescope NN I-NP +, , O +a DT B-NP +$ $ I-NP +1.5 CD I-NP +billion CD I-NP +instrument NN I-NP +designed VBN B-VP +to TO B-VP +see VB I-VP +the DT B-NP +faintest JJS I-NP +galaxies NNS I-NP +in IN B-PP +the DT B-NP +universe NN I-NP +. . O + +Not RB B-NP +all DT I-NP +of IN B-PP +NASA NNP B-NP +'s POS B-NP +space-science NN I-NP +work NN I-NP +will MD B-VP +be VB I-VP +so RB B-ADJP +auspicious JJ I-ADJP +, , O +though RB B-ADVP +. . O + +Around IN B-PP +Thanksgiving NNP B-NP +, , O +the DT B-NP +Solar NNP I-NP +Max NNP I-NP +satellite NN I-NP +, , O +which WDT B-NP +NASA NNP B-NP +repaired VBD B-VP +in IN B-PP +orbit NN B-NP +in IN B-PP +1984 CD B-NP +, , O +will MD B-VP +tumble VB I-VP +back RB B-ADVP +into IN B-PP +the DT B-NP +Earth NNP I-NP +'s POS B-NP +atmosphere NN I-NP +. . O + +NASA NNP B-NP +wo MD B-VP +n't RB I-VP +attempt VB I-VP +a DT B-NP +rescue NN I-NP +; : O +instead RB B-ADVP +, , O +it PRP B-NP +will MD B-VP +try VB I-VP +to TO I-VP +predict VB I-VP +whether IN B-SBAR +any DT B-NP +of IN B-PP +the DT B-NP +rubble NN I-NP +will MD B-VP +smash VB I-VP +to TO B-PP +the DT B-NP +ground NN I-NP +and CC O +where WRB B-ADVP +. . O + +The DT B-NP +Associated NNP I-NP +Press NNP I-NP +'s POS B-NP +earthquake NN I-NP +coverage NN I-NP +drew VBD B-VP +attention NN B-NP +to TO B-PP +a DT B-NP +phenomenon NN I-NP +that WDT B-NP +deserves VBZ B-VP +some DT B-NP +thought NN I-NP +by IN B-PP +public JJ B-NP +officials NNS I-NP +and CC O +other JJ B-NP +policy NN I-NP +makers NNS I-NP +. . O + +Private JJ B-NP +relief NN I-NP +agencies NNS I-NP +, , O +such JJ B-PP +as IN I-PP +the DT B-NP +Salvation NNP I-NP +Army NNP I-NP +and CC I-NP +Red NNP I-NP +Cross NNP I-NP +, , O +mobilized VBD B-VP +almost RB B-ADVP +instantly RB I-ADVP +to TO B-VP +help VB I-VP +people NNS B-NP +, , O +while IN B-SBAR +the DT B-NP +Washington NNP I-NP +bureaucracy NN I-NP +`` `` O +took VBD B-VP +hours NNS B-NP +getting VBG B-VP +into IN B-PP +gear NN B-NP +. . O +'' '' O + +One CD B-NP +news NN I-NP +show NN I-NP +we PRP B-NP +saw VBD B-VP +yesterday NN B-NP +even RB B-ADVP +displayed VBD B-VP +25 CD B-NP +federal JJ I-NP +officials NNS I-NP +meeting NN B-VP +around IN B-PP +a DT B-NP +table NN I-NP +. . O + +We PRP B-NP +recall VBP B-VP +that IN B-SBAR +the DT B-NP +mayor NN I-NP +of IN B-PP +Charleston NNP B-NP +complained VBD B-VP +bitterly RB B-ADVP +about IN B-PP +the DT B-NP +federal JJ I-NP +bureaucracy NN I-NP +'s POS B-NP +response NN I-NP +to TO B-PP +Hurricane NNP B-NP +Hugo NNP I-NP +. . O + +The DT B-NP +sense NN I-NP +grows VBZ B-VP +that IN B-SBAR +modern JJ B-NP +public JJ I-NP +bureaucracies NNS I-NP +simply RB B-ADVP +do VBP B-VP +n't RB I-VP +perform VB I-VP +their PRP$ B-NP +assigned VBN I-NP +functions NNS I-NP +well RB B-ADVP +. . O + +Bally NNP B-NP +Manufacturing NNP I-NP +Corp. NNP I-NP +and CC O +New NNP B-NP +York NNP I-NP +developer NN I-NP +Donald NNP I-NP +Trump NNP I-NP +have VBP B-VP +agreed VBN I-VP +in IN B-PP +principle NN B-NP +to TO B-PP +a DT B-NP +$ $ I-NP +6.5 CD I-NP +million CD I-NP +settlement NN I-NP +of IN B-PP +shareholder NN B-NP +litigation NN I-NP +stemming VBG B-VP +from IN B-PP +Bally NNP B-NP +'s POS B-NP +alleged VBN I-NP +greenmail NN I-NP +payment NN I-NP +to TO B-PP +Mr. NNP B-NP +Trump NNP I-NP +. . O + +According VBG B-PP +to TO B-PP +lawyers NNS B-NP +familiar JJ B-ADJP +with IN B-PP +the DT B-NP +settlement NN I-NP +talks NNS I-NP +, , O +the DT B-NP +verbal JJ I-NP +agreement NN I-NP +to TO B-VP +end VB I-VP +a DT B-NP +lawsuit NN I-NP +filed VBN B-VP +more JJR B-NP +than IN I-NP +two CD I-NP +years NNS I-NP +ago RB B-ADVP +was VBD B-VP +reached VBN I-VP +last JJ B-NP +week NN I-NP +and CC O +will MD B-VP +soon RB I-VP +be VB I-VP +submitted VBN I-VP +to TO B-PP +a DT B-NP +federal JJ I-NP +judge NN I-NP +in IN B-PP +Camden NNP B-NP +, , O +N.J NNP B-NP +. . O + +In IN B-PP +February NNP B-NP +1987 CD I-NP +, , O +Bally NNP B-NP +thwarted VBD B-VP +a DT B-NP +possible JJ I-NP +hostile JJ I-NP +takeover NN I-NP +bid NN I-NP +from IN B-PP +Mr. NNP B-NP +Trump NNP I-NP +by IN B-PP +agreeing VBG B-VP +to TO I-VP +buy VB I-VP +2.6 CD B-NP +million CD I-NP +of IN B-PP +Mr. NNP B-NP +Trump NNP I-NP +'s POS B-NP +3.1 CD I-NP +million CD I-NP +Bally NNP I-NP +shares NNS I-NP +for IN B-PP +$ $ B-NP +83.7 CD I-NP +million CD I-NP +-- : O +more JJR B-NP +than IN I-NP +$ $ I-NP +18 CD I-NP +million CD I-NP +above IN B-PP +market NN B-NP +price NN I-NP +. . O + +The DT B-NP +term NN I-NP +greenmail NN B-NP +refers VBZ B-VP +to TO B-PP +a DT B-NP +situation NN I-NP +where WRB B-ADVP +a DT B-NP +company NN I-NP +pays VBZ B-VP +a DT B-NP +premium NN I-NP +over IN B-PP +market NN B-NP +value NN I-NP +to TO B-VP +repurchase VB I-VP +a DT B-NP +stake NN I-NP +held VBN B-VP +by IN B-PP +a DT B-NP +potential JJ I-NP +acquirer NN I-NP +. . O + +Lawyers NNS B-NP +for IN B-PP +shareholders NNS B-NP +, , O +Bally NNP B-NP +and CC O +Mr. NNP B-NP +Trump NNP I-NP +all DT O +declined VBD B-VP +to TO I-VP +talk VB I-VP +publicly RB B-ADVP +about IN B-PP +the DT B-NP +proposed VBN I-NP +settlement NN I-NP +, , O +citing VBG B-VP +a DT B-NP +request NN I-NP +by IN B-PP +a DT B-NP +federal JJ I-NP +court NN I-NP +magistrate NN I-NP +not RB O +to TO B-VP +reveal VB I-VP +details NNS B-NP +of IN B-PP +the DT B-NP +agreement NN I-NP +until IN B-SBAR +it PRP B-NP +is VBZ B-VP +completed VBN I-VP +. . O + +But CC O +some DT B-NP +attorneys NNS I-NP +who WP B-NP +are VBP B-VP +familiar JJ B-ADJP +with IN B-PP +the DT B-NP +matter NN I-NP +said VBD B-VP +the DT B-NP +$ $ I-NP +6.5 CD I-NP +million CD I-NP +payment NN I-NP +will MD B-VP +be VB I-VP +shared VBN I-VP +by IN B-PP +Bally NNP B-NP +and CC O +Mr. NNP B-NP +Trump NNP I-NP +, , O +with IN B-PP +the DT B-NP +casino NN I-NP +and CC I-NP +hotel NN I-NP +concern NN I-NP +probably RB B-ADVP +paying VBG B-VP +the DT B-NP +bulk NN I-NP +of IN B-PP +the DT B-NP +money NN I-NP +. . O + +The DT B-NP +amount NN I-NP +Bally NNP B-NP +and CC O +Mr. NNP B-NP +Trump NNP I-NP +will MD B-VP +pay VB I-VP +to TO B-VP +settle VB I-VP +the DT B-NP +class-action JJ I-NP +suit NN I-NP +pales VBZ B-VP +in IN B-PP +comparison NN B-NP +to TO B-PP +the DT B-NP +$ $ I-NP +45 CD I-NP +million CD I-NP +Walt NNP B-NP +Disney NNP I-NP +Co. NNP I-NP +and CC O +Saul NNP B-NP +Steinberg NNP I-NP +'s POS B-NP +Reliance NNP I-NP +Group NNP I-NP +Holdings NNP I-NP +Inc. NNP I-NP +agreed VBD B-VP +to TO I-VP +pay VB I-VP +to TO B-VP +settle VB I-VP +a DT B-NP +similar JJ I-NP +suit NN I-NP +in IN B-PP +July NNP B-NP +. . O + +That DT B-NP +settlement NN I-NP +represented VBD B-VP +the DT B-NP +first JJ I-NP +time NN I-NP +shareholders NNS B-NP +were VBD B-VP +granted VBN I-VP +a DT B-NP +major JJ I-NP +payment NN I-NP +in IN B-PP +a DT B-NP +greenmail NN I-NP +case NN I-NP +. . O + +Mr. NNP B-NP +Steinberg NNP I-NP +made VBD B-VP +a DT B-NP +$ $ I-NP +59.7 CD I-NP +million CD I-NP +profit NN I-NP +on IN B-PP +the DT B-NP +sale NN I-NP +to TO B-PP +Disney NNP B-NP +of IN B-PP +his PRP$ B-NP +investment NN I-NP +in IN B-PP +the DT B-NP +company NN I-NP +in IN B-PP +1984 CD B-NP +. . O + +But CC O +lawyers NNS B-NP +said VBD B-VP +Mr. NNP B-NP +Steinberg NNP I-NP +probably RB B-ADVP +faced VBD B-VP +much RB B-NP +more RBR I-NP +potential JJ I-NP +liability NN I-NP +because IN B-SBAR +, , O +when WRB B-ADVP +he PRP B-NP +sued VBD B-VP +Disney NNP B-NP +during IN B-PP +his PRP$ B-NP +takeover NN I-NP +battle NN I-NP +, , O +he PRP B-NP +filed VBD B-VP +on IN B-PP +behalf NN B-NP +of IN B-PP +all DT B-NP +shareholders NNS I-NP +. . O + +When WRB B-ADVP +Disney NNP B-NP +offered VBD B-VP +to TO I-VP +pay VB I-VP +Mr. NNP B-NP +Steinberg NNP I-NP +a DT B-NP +premium NN I-NP +for IN B-PP +his PRP$ B-NP +shares NNS I-NP +, , O +the DT B-NP +New NNP I-NP +York NNP I-NP +investor NN I-NP +did VBD B-VP +n't RB I-VP +demand VB I-VP +the DT B-NP +company NN I-NP +also RB B-ADVP +pay VB B-VP +a DT B-NP +premium NN I-NP +to TO B-PP +other JJ B-NP +shareholders NNS I-NP +. . O + +When WRB B-ADVP +Mr. NNP B-NP +Trump NNP I-NP +sued VBD B-VP +Bally NNP B-NP +, , O +he PRP B-NP +sued VBD B-VP +only RB B-ADVP +on IN B-PP +behalf NN B-NP +of IN B-PP +himself PRP B-NP +. . O + +Mr. NNP B-NP +Trump NNP I-NP +and CC O +Bally NNP B-NP +also RB B-ADVP +appeared VBD B-VP +to TO I-VP +have VB I-VP +some DT B-NP +leverage NN I-NP +in IN B-PP +the DT B-NP +case NN I-NP +because IN O +in IN B-PP +the DT B-NP +state NN I-NP +of IN B-PP +Delaware NNP B-NP +, , O +where WRB B-ADVP +Bally NNP B-NP +is VBZ B-VP +incorporated VBN B-ADJP +, , O +courts NNS B-NP +have VBP B-VP +held VBN I-VP +that DT O +greenmail NN B-NP +is VBZ B-VP +often RB I-VP +protected VBN I-VP +by IN B-PP +the DT B-NP +business-judgment NN I-NP +rule NN I-NP +. . O + +That DT B-NP +rule NN I-NP +gives VBZ B-VP +boards NNS B-NP +of IN B-PP +directors NNS B-NP +wide JJ B-NP +latitude NN I-NP +in IN B-PP +deciding VBG B-VP +how WRB B-ADVP +to TO B-VP +deal VB I-VP +with IN B-PP +dissident JJ B-NP +shareholders NNS I-NP +. . O + +SENATE NNP B-NP +HEARS VBZ B-VP +final JJ B-NP +arguments NNS I-NP +in IN B-PP +impeachment NN B-NP +trial NN I-NP +of IN B-PP +federal JJ B-NP +judge NN I-NP +. . O + +Yesterday NN B-NP +, , O +U.S. NNP B-NP +Judge NNP I-NP +Alcee NNP I-NP +Hastings NNP I-NP +faced VBD B-VP +his PRP$ B-NP +jury NN I-NP +-- : O +the DT B-NP +full JJ I-NP +U.S. NNP I-NP +Senate NNP I-NP +-- : O +and CC O +said VBD B-VP +, , O +`` `` O +I PRP B-NP +am VBP B-VP +not RB O +guilty JJ B-ADJP +of IN B-PP +having VBG B-VP +committed VBN I-VP +any DT B-NP +crime NN I-NP +. . O +'' '' O + +Seventeen CD B-NP +articles NNS I-NP +of IN B-PP +impeachment NN B-NP +against IN B-PP +the DT B-NP +Florida NNP I-NP +judge NN I-NP +, , O +one CD B-NP +of IN B-PP +the DT B-NP +few JJ I-NP +blacks NNS I-NP +on IN B-PP +the DT B-NP +U.S. NNP I-NP +bench NN I-NP +, , O +were VBD B-VP +approved VBN I-VP +by IN B-PP +the DT B-NP +House NNP I-NP +in IN B-PP +August NNP B-NP +1988 CD I-NP +. . O + +The DT B-NP +central JJ I-NP +charge NN I-NP +against IN B-PP +Judge NNP B-NP +Hastings NNP I-NP +is VBZ B-VP +that IN B-SBAR +he PRP B-NP +conspired VBD B-VP +with IN B-PP +a DT B-NP +Washington NNP I-NP +lawyer NN I-NP +to TO B-VP +obtain VB I-VP +a DT B-NP +$ $ I-NP +150,000 CD I-NP +bribe NN I-NP +from IN B-PP +defendants NNS B-NP +in IN B-PP +a DT B-NP +criminal JJ I-NP +case NN I-NP +before IN B-PP +the DT B-NP +judge NN I-NP +, , O +in IN B-PP +return NN B-NP +for IN B-PP +leniency NN B-NP +. . O + +He PRP B-NP +is VBZ B-VP +also RB I-VP +accused VBN I-VP +of IN B-PP +lying VBG B-VP +under IN B-PP +oath NN B-NP +and CC B-PP +of IN B-PP +leaking VBG B-VP +information NN B-NP +obtained VBN B-VP +from IN B-PP +a DT B-NP +wiretap NN I-NP +he PRP B-NP +supervised VBD B-VP +. . O + +The DT B-NP +Senate NNP I-NP +'s POS B-NP +public JJ I-NP +gallery NN I-NP +was VBD B-VP +packed VBN B-ADJP +with IN B-PP +Judge NNP B-NP +Hastings NNP I-NP +' POS B-NP +supporters NNS I-NP +, , O +who WP B-NP +erupted VBD B-VP +into IN B-PP +applause NN B-NP +after IN B-SBAR +he PRP B-NP +finished VBD B-VP +his PRP$ B-NP +argument NN I-NP +. . O + +Judge NNP B-NP +Hastings NNP I-NP +, , O +who WP B-NP +was VBD B-VP +acquitted VBN I-VP +of IN B-PP +similar JJ B-NP +charges NNS I-NP +by IN B-PP +a DT B-NP +federal JJ I-NP +jury NN I-NP +in IN B-PP +1983 CD B-NP +, , O +claims NNS B-VP +he PRP B-NP +is VBZ B-VP +being VBG I-VP +victimized VBN I-VP +and CC O +that IN B-SBAR +the DT B-NP +impeachment NN I-NP +proceedings NNS I-NP +against IN B-PP +him PRP B-NP +constitute VBP B-VP +double JJ B-NP +jeopardy NN I-NP +. . O + +But CC O +Rep. NNP B-NP +John NNP I-NP +Bryant NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Texas NNP B-NP +-RRB- ) O +, , O +the DT B-NP +lead NN I-NP +counsel NN I-NP +for IN B-PP +the DT B-NP +House NNP I-NP +managers NNS I-NP +who WP B-NP +conducted VBD B-VP +a DT B-NP +lengthy JJ I-NP +inquiry NN I-NP +into IN B-PP +Judge NNP B-NP +Hastings NNP I-NP +' POS B-NP +activities NNS I-NP +, , O +said VBD B-VP +`` `` O +a DT B-NP +mountain NN I-NP +of IN B-PP +evidence NN B-NP +points NNS B-VP +to TO B-PP +his PRP$ B-NP +certain JJ I-NP +guilt NN I-NP +. . O +'' '' O + +The DT B-NP +Senate NNP I-NP +will MD B-VP +deliberate VB I-VP +behind IN B-PP +closed VBN B-NP +doors NNS I-NP +today NN B-NP +and CC O +is VBZ B-VP +scheduled VBN I-VP +to TO I-VP +vote VB I-VP +on IN B-PP +the DT B-NP +impeachment NN I-NP +tomorrow NN B-NP +. . O + +If IN B-SBAR +the DT B-NP +judge NN I-NP +is VBZ B-VP +impeached VBN I-VP +, , O +as IN B-SBAR +is VBZ B-VP +thought VBN I-VP +likely JJ B-ADJP +, , O +he PRP B-NP +will MD B-VP +be VB I-VP +removed VBN I-VP +from IN B-PP +office NN B-NP +immediately RB B-ADVP +. . O + +However RB B-ADVP +, , O +Judge NNP B-NP +Hastings NNP I-NP +has VBZ B-VP +said VBD I-VP +he PRP B-NP +will MD B-VP +continue VB I-VP +to TO I-VP +fight VB I-VP +and CC O +is VBZ B-VP +contemplating VBG I-VP +an DT B-NP +appeal NN I-NP +of IN B-PP +any DT B-NP +impeachment NN I-NP +to TO B-PP +the DT B-NP +U.S. NNP I-NP +Supreme NNP I-NP +Court NNP I-NP +. . O + +COMPANIES NNS B-NP +SEEKING VBG B-VP +to TO I-VP +make VB I-VP +insurers NNS B-NP +pay VB B-VP +for IN B-PP +pollution NN B-NP +cleanup NN I-NP +win NN B-VP +court NN B-NP +victory NN I-NP +. . O + +In IN B-PP +a DT B-NP +case NN I-NP +involving VBG B-VP +Avondale NNP B-NP +Industries NNP I-NP +Inc. NNP I-NP +and CC O +its PRP$ B-NP +insurer NN I-NP +, , O +Travelers NNP B-NP +Cos. NNP I-NP +, , O +the DT B-NP +Second NNP I-NP +U.S. NNP I-NP +Circuit NNP I-NP +Court NNP I-NP +of IN B-PP +Appeals NNPS B-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +ruled VBD B-VP +in IN B-PP +favor NN B-NP +of IN B-PP +the DT B-NP +company NN I-NP +on IN B-PP +two CD B-NP +issues NNS I-NP +that IN B-NP +lawyers NNS B-NP +say VBP B-VP +are VBP B-VP +central JJ B-ADJP +to TO B-PP +dozens NNS B-NP +of IN B-PP +pollution NN B-NP +cases NNS I-NP +around IN B-PP +the DT B-NP +country NN I-NP +. . O + +Travelers NNP B-NP +and CC O +other JJ B-NP +insurers NNS I-NP +have VBP B-VP +maintained VBN I-VP +that IN B-SBAR +cleanup NN B-NP +costs NNS I-NP +are VBP B-VP +n't RB O +damages VBZ B-NP +and CC O +thus RB B-ADVP +are VBP B-VP +n't RB I-VP +covered VBN I-VP +under IN B-PP +commercial JJ B-NP +policies NNS I-NP +. . O + +They PRP B-NP +also RB B-ADVP +have VBP B-VP +argued VBN I-VP +that IN B-SBAR +government NN B-NP +proceedings NNS I-NP +notifying VBG B-VP +a DT B-NP +company NN I-NP +of IN B-PP +potential JJ B-NP +responsibility NN I-NP +do VBP B-VP +n't RB I-VP +fit VB I-VP +the DT B-NP +legal JJ I-NP +definition NN I-NP +of IN B-PP +a DT B-NP +lawsuit NN I-NP +; : O +thus RB B-ADVP +, , O +such JJ B-NP +governmental JJ I-NP +proceedings NNS I-NP +are VBP B-VP +n't RB I-VP +covered VBN I-VP +by IN B-PP +the DT B-NP +policies NNS I-NP +, , O +the DT B-NP +insurers NNS I-NP +say VBP B-VP +. . O + +The DT B-NP +appeals NNS I-NP +court VBP I-NP +disagreed VBD B-VP +on IN B-PP +both DT B-NP +counts NNS I-NP +. . O + +Avondale NNP B-NP +was VBD B-VP +notified VBN I-VP +by IN B-PP +Louisiana NNP B-NP +officials NNS I-NP +in IN B-PP +1986 CD B-NP +that IN B-SBAR +it PRP B-NP +was VBD B-VP +potentially RB B-ADJP +responsible JJ I-ADJP +for IN B-PP +a DT B-NP +cleanup NN I-NP +at IN B-PP +an DT B-NP +oil-recycling NN I-NP +plant NN I-NP +. . O + +Avondale NNP B-NP +asked VBD B-VP +Travelers NNP B-NP +to TO B-VP +defend VB I-VP +it PRP B-NP +in IN B-PP +the DT B-NP +state NN I-NP +proceeding NN I-NP +, , O +but CC O +the DT B-NP +insurer NN I-NP +did VBD B-VP +n't RB I-VP +respond VB I-VP +. . O + +The DT B-NP +appeals NNS I-NP +court VBP I-NP +upheld VBD B-VP +a DT B-NP +district NN I-NP +judge NN I-NP +'s POS B-NP +ruling NN I-NP +that IN B-SBAR +the DT B-NP +insurer NN I-NP +had VBD B-VP +to TO I-VP +defend VB I-VP +the DT B-NP +company NN I-NP +in IN B-PP +such JJ B-NP +proceedings NNS I-NP +. . O + +The DT B-NP +appeals NNS I-NP +court VBP I-NP +also RB B-ADVP +said VBD B-VP +, , O +`` `` O +We PRP B-NP +think VBP B-VP +an DT B-NP +ordinary JJ I-NP +businessman NN I-NP +reading VBG B-VP +this DT B-NP +policy NN I-NP +would MD B-VP +have VB I-VP +believed VBN I-VP +himself PRP B-NP +covered VBD B-ADJP +for IN B-PP +the DT B-NP +demands NNS I-NP +and CC I-NP +potential JJ I-NP +damage NN I-NP +claims NNS I-NP +'' '' O +stemming VBG B-VP +from IN B-PP +any DT B-NP +cleanup NN I-NP +. . O + +`` `` O +This DT B-NP +decision NN I-NP +will MD B-VP +have VB I-VP +a DT B-NP +very RB I-NP +considerable JJ I-NP +impact NN I-NP +, , O +'' '' O +said VBD B-VP +Kenneth NNP B-NP +Abraham NNP I-NP +, , O +professor NN B-NP +of IN B-PP +environmental JJ B-NP +law NN I-NP +and CC O +insurance NN B-NP +law NN I-NP +at IN B-PP +the DT B-NP +University NNP I-NP +of IN B-PP +Virginia NNP B-NP +, , O +because IN B-SBAR +many JJ B-NP +commercial JJ I-NP +insurance NN I-NP +policies NNS I-NP +are VBP B-VP +issued VBN I-VP +by IN B-PP +companies NNS B-NP +based VBN B-VP +in IN B-PP +New NNP B-NP +York NNP I-NP +. . O + +William NNP B-NP +Greaney NNP I-NP +, , O +an DT B-NP +attorney NN I-NP +for IN B-PP +the DT B-NP +Chemical NNP I-NP +Manufacturers NNP I-NP +Association NNP I-NP +, , O +said VBD B-VP +that IN B-SBAR +while IN B-SBAR +other JJ B-NP +appeals NNS I-NP +courts NNS I-NP +have VBP B-VP +ruled VBN I-VP +differently RB B-ADVP +on IN B-PP +whether IN B-SBAR +cleanup NN B-NP +costs NNS I-NP +are VBP B-VP +damages NNS B-NP +, , O +the DT B-NP +influence NN I-NP +of IN B-PP +the DT B-NP +appeals NNS I-NP +court VBP I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +`` `` O +will MD B-VP +make VB I-VP +insurers NNS B-NP +sit VB B-VP +up VB B-ADVP +and CC O +listen VB B-VP +. . O +'' '' O + +He PRP B-NP +said VBD B-VP +the DT B-NP +decision NN I-NP +was VBD B-VP +the DT B-NP +first JJ I-NP +in IN B-PP +which WDT B-NP +a DT B-NP +federal JJ I-NP +appeals NNS I-NP +court VBP I-NP +has VBZ B-VP +ruled VBN I-VP +whether IN B-SBAR +administrative JJ B-NP +government NN I-NP +proceedings NNS I-NP +qualify VBP B-VP +as IN B-PP +litigation NN B-NP +. . O + +Barry NNP B-NP +R. NNP I-NP +Ostrager NNP I-NP +, , O +an DT B-NP +attorney NN I-NP +for IN B-PP +Travelers NNP B-NP +, , O +said VBD B-VP +, , O +`` `` O +there EX B-NP +are VBP B-VP +procedural JJ B-NP +bases NNS I-NP +on IN B-PP +which WDT B-NP +this DT B-NP +case NN I-NP +will MD B-VP +be VB I-VP +appealed VBN I-VP +further JJ B-ADVP +. . O +'' '' O + +NEW NNP B-NP +YORK NNP I-NP +'S VBZ B-NP +poor JJ I-NP +face NN B-VP +nearly RB B-NP +three CD I-NP +million CD I-NP +legal JJ I-NP +problems NNS I-NP +a DT B-NP +year NN I-NP +without IN B-PP +legal JJ B-NP +help NN I-NP +. . O + +That DT B-NP +is VBZ B-VP +the DT B-NP +conclusion NN I-NP +of IN B-PP +a DT B-NP +report NN I-NP +released VBN B-VP +by IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +State NNP I-NP +Bar NNP I-NP +Association NNP I-NP +. . O + +The DT B-NP +report NN I-NP +was VBD B-VP +based VBN I-VP +on IN B-PP +a DT B-NP +telephone NN I-NP +survey NN I-NP +of IN B-PP +1,250 CD B-NP +low-income JJ I-NP +households NNS I-NP +across IN B-PP +the DT B-NP +state NN I-NP +, , O +a DT B-NP +mail NN I-NP +survey NN I-NP +of IN B-PP +major JJ B-NP +legal-services NNS I-NP +programs NNS I-NP +and CC O +on-site JJ B-NP +interviews NNS I-NP +with IN B-PP +individuals NNS B-NP +in IN B-PP +the DT B-NP +field NN I-NP +. . O + +`` `` O +The DT B-NP +report NN I-NP +provides VBZ B-VP +detailed VBN B-NP +documentation NN I-NP +of IN B-PP +the DT B-NP +extent NN I-NP +and CC I-NP +nature NN I-NP +of IN B-PP +the DT B-NP +problem NN I-NP +and CC O +indicates VBZ B-VP +how WRB B-ADVP +we PRP B-NP +may MD B-VP +want VB I-VP +to TO I-VP +shape VB I-VP +solutions NNS B-NP +, , O +'' '' O +said VBD B-VP +Joseph NNP B-NP +Genova NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +the DT B-NP +committee NN I-NP +that WDT B-NP +oversaw VBD B-VP +the DT B-NP +survey NN I-NP +and CC O +a DT B-NP +partner NN I-NP +at IN B-PP +the DT B-NP +law NN I-NP +firm NN I-NP +of IN B-PP +Milbank NNP B-NP +, , I-NP +Tweed NNP I-NP +, , I-NP +Hadley NNP I-NP +& CC I-NP +McCloy NNP I-NP +. . O + +According VBG B-PP +to TO B-PP +the DT B-NP +study NN I-NP +, , O +slightly RB B-NP +more JJR I-NP +than IN I-NP +34 CD I-NP +% NN I-NP +of IN B-PP +those DT B-NP +surveyed VBN B-VP +reported VBD B-VP +having VBG I-VP +at IN B-NP +least JJS I-NP +one CD I-NP +housing NN I-NP +problem NN I-NP +every DT B-NP +year NN I-NP +for IN B-PP +which WDT B-NP +they PRP B-NP +had VBD B-VP +no DT B-NP +legal JJ I-NP +help NN I-NP +. . O + +Nearly RB B-NP +36 CD I-NP +% NN I-NP +ranked VBD B-VP +housing NN B-NP +problems NNS I-NP +as IN B-PP +their PRP$ B-NP +most RBS I-NP +serious JJ I-NP +unmet JJ I-NP +legal JJ I-NP +need NN I-NP +. . O + +Other JJ B-NP +areas NNS I-NP +targeted VBN B-VP +by IN B-PP +the DT B-NP +survey NN I-NP +'s POS B-NP +respondents NNS I-NP +included VBD B-VP +difficulty NN B-NP +obtaining VBG B-VP +or CC I-VP +maintaining VBG I-VP +public JJ B-NP +benefits NNS I-NP +-LRB- ( O +22 CD B-NP +% NN I-NP +-RRB- ) O +, , O +consumer NN B-NP +fraud NN I-NP +-LRB- ( O +15.4 CD B-NP +% NN I-NP +-RRB- ) O +, , O +and CC O +health-care NN B-NP +issues NNS I-NP +-LRB- ( O +15 CD B-NP +% NN I-NP +-RRB- ) O +. . O + +During IN B-PP +the DT B-NP +15-month JJ I-NP +survey NN I-NP +, , O +43 CD B-NP +% NN I-NP +of IN B-PP +all DT B-NP +legal-services NNS I-NP +programs NNS I-NP +said VBD B-VP +that IN B-SBAR +at IN B-PP +some DT B-NP +period NN I-NP +they PRP B-NP +were VBD B-VP +unable JJ B-ADJP +to TO B-VP +accept VB I-VP +new JJ B-NP +clients NNS I-NP +unless IN B-SBAR +they PRP B-NP +had VBD B-VP +an DT B-NP +emergency NN I-NP +. . O + +Mr. NNP B-NP +Genova NNP I-NP +said VBD B-VP +the DT B-NP +committee NN I-NP +may MD B-VP +meet VB I-VP +to TO B-VP +propose VB I-VP +solutions NNS B-NP +to TO B-PP +the DT B-NP +problems NNS I-NP +identified VBN B-VP +in IN B-PP +the DT B-NP +study NN I-NP +. . O + +PROSECUTOR NNP B-NP +TO TO B-VP +JOIN VB I-VP +Gibson NNP B-NP +Dunn NNP I-NP +: : O + +Assistant NNP B-NP +U.S. NNP I-NP +Attorney NNP I-NP +Randy NNP I-NP +Mastro NNP I-NP +, , O +who WP B-NP +headed VBD B-VP +the DT B-NP +government NN I-NP +'s POS B-NP +racketeering NN I-NP +case NN I-NP +against IN B-PP +the DT B-NP +International NNP I-NP +Brotherhood NNP I-NP +of IN B-PP +Teamsters NNPS B-NP +, , O +will MD B-VP +join VB I-VP +Gibson NNP B-NP +, , I-NP +Dunn NNP I-NP +& CC I-NP +Crutcher NNP I-NP +in IN B-PP +its PRP$ B-NP +New NNP I-NP +York NNP I-NP +office NN I-NP +. . O + +Mr. NNP B-NP +Mastro NNP I-NP +has VBZ B-VP +been VBN I-VP +with IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +U.S. NNP I-NP +attorney NN I-NP +'s POS B-NP +office NN I-NP +for IN B-PP +nearly RB B-NP +five CD I-NP +years NNS I-NP +. . O + +In IN B-PP +1987 CD B-NP +he PRP B-NP +became VBD B-VP +deputy NN B-NP +chief NN I-NP +of IN B-PP +the DT B-NP +civil JJ I-NP +division NN I-NP +. . O + +Mr. NNP B-NP +Mastro NNP I-NP +will MD B-VP +do VB I-VP +civil JJ B-NP +litigation NN I-NP +and CC O +white-collar JJ B-NP +defense NN I-NP +work NN I-NP +for IN B-PP +Gibson NNP B-NP +Dunn NNP I-NP +, , O +which WDT B-NP +is VBZ B-VP +based VBN I-VP +in IN B-PP +Los NNP B-NP +Angeles NNP I-NP +. . O + +FORMER JJ B-NP +APPLE NNP I-NP +COMPUTER NNP I-NP +Inc. NNP I-NP +general JJ I-NP +counsel NN I-NP +John NNP I-NP +P. NNP I-NP +Karalis NNP I-NP +has VBZ B-VP +joined VBN I-VP +the DT B-NP +Phoenix NNP I-NP +, , I-NP +Ariz. NNP I-NP +, , I-NP +law NN I-NP +firm NN I-NP +of IN B-PP +Brown NNP B-NP +& CC I-NP +Bain NNP I-NP +. . O + +Mr. NNP B-NP +Karalis NNP I-NP +, , O +51 CD B-NP +, , O +will MD B-VP +specialize VB I-VP +in IN B-PP +corporate JJ B-NP +law NN I-NP +and CC O +international JJ B-NP +law NN I-NP +at IN B-PP +the DT B-NP +110-lawyer JJ I-NP +firm NN I-NP +. . O + +Before IN B-PP +joining VBG B-VP +Apple NNP B-NP +in IN B-PP +1986 CD B-NP +, , O +Mr. NNP B-NP +Karalis NNP I-NP +served VBD B-VP +as IN B-PP +general JJ B-NP +counsel NN I-NP +at IN B-PP +Sperry NNP B-NP +Corp NNP I-NP +. . O + +After IN B-PP +failing VBG B-VP +to TO I-VP +find VB I-VP +a DT B-NP +buyer NN I-NP +for IN B-PP +the DT B-NP +Sears NNP I-NP +Tower NNP I-NP +in IN B-PP +Chicago NNP B-NP +, , O +Sears NNP B-NP +, , I-NP +Roebuck NNP I-NP +& CC I-NP +Co. NNP I-NP +is VBZ B-VP +negotiating VBG I-VP +with IN B-PP +Boston NNP B-NP +pension NN I-NP +fund NN I-NP +adviser NN I-NP +Aldrich NNP I-NP +, , I-NP +Eastman NNP I-NP +& CC I-NP +Waltch NNP I-NP +Inc. NNP I-NP +to TO B-VP +refinance VB I-VP +the DT B-NP +property NN I-NP +for IN B-PP +close RB B-NP +to TO I-NP +$ $ I-NP +850 CD I-NP +million CD I-NP +, , O +according VBG B-PP +to TO B-PP +people NNS B-NP +close VBP B-ADJP +to TO B-PP +the DT B-NP +negotiations NNS I-NP +. . O + +Under IN B-PP +the DT B-NP +proposed VBN I-NP +agreement NN I-NP +involving VBG B-VP +the DT B-NP +world NN I-NP +'s POS B-NP +tallest JJS I-NP +building NN I-NP +, , O +Chicago-based JJ B-NP +Sears NNP I-NP +would MD B-VP +receive VB I-VP +about IN B-NP +half PDT I-NP +the DT I-NP +money NN I-NP +through IN B-PP +conventional JJ B-NP +mortgage NN I-NP +financing NN I-NP +and CC O +the DT B-NP +other JJ I-NP +half NN I-NP +as IN B-PP +a DT B-NP +convertible JJ I-NP +mortgage NN I-NP +. . O + +At IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +term NN I-NP +of IN B-PP +the DT B-NP +convertible JJ I-NP +loan NN I-NP +, , O +Sears NNP B-NP +could MD B-VP +still RB I-VP +own JJ I-VP +half PDT B-NP +the DT I-NP +building NN I-NP +, , O +and CC O +AEW NNP B-NP +could MD B-VP +own VB I-VP +the DT B-NP +other JJ I-NP +half NN I-NP +. . O + +Neither CC B-NP +side NN I-NP +would MD B-VP +comment VB I-VP +. . O + +The DT B-NP +parties NNS I-NP +are VBP B-VP +currently RB I-VP +negotiating VBG I-VP +over IN B-PP +who WP B-NP +would MD B-VP +manage VB I-VP +the DT B-NP +building NN I-NP +, , O +which WDT B-NP +will MD B-VP +be VB I-VP +emptied VBN I-VP +of IN B-PP +6,000 CD B-NP +employees NNS I-NP +from IN B-PP +Sears NNP B-NP +' POS B-NP +merchandise NN I-NP +group NN I-NP +, , O +which WDT B-NP +is VBZ B-VP +moving VBG I-VP +elsewhere RB B-ADVP +. . O + +The DT B-NP +new JJ I-NP +manager NN I-NP +will MD B-VP +face VB I-VP +the DT B-NP +daunting JJ I-NP +task NN I-NP +of IN B-PP +leasing NN B-VP +1.8 CD B-NP +million CD I-NP +square NN I-NP +feet NNS I-NP +in IN B-PP +a DT B-NP +relatively RB I-NP +soft JJ I-NP +Chicago NNP I-NP +real JJ I-NP +estate NN I-NP +market NN I-NP +. . O + +Also RB B-ADVP +, , O +it PRP B-NP +has VBZ B-VP +not RB I-VP +yet RB I-VP +been VBN I-VP +decided VBN I-VP +exactly RB B-NP +how WRB I-NP +much NN I-NP +of IN B-PP +the DT B-NP +mortgage NN I-NP +AEW NNP B-NP +will MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +convert VB I-VP +into IN B-PP +equity NN B-NP +. . O + +Convertible JJ B-NP +mortgages NNS I-NP +have VBP B-VP +become VBN I-VP +an DT B-NP +increasingly RB I-NP +popular JJ I-NP +way NN I-NP +to TO B-VP +finance VB I-VP +prestigious JJ B-NP +buildings NNS I-NP +of IN B-PP +late JJ B-ADVP +. . O + +In IN B-PP +a DT B-NP +convertible JJ I-NP +mortgage NN I-NP +, , O +the DT B-NP +investor NN I-NP +lends VBZ B-VP +the DT B-NP +building NN I-NP +owner NN I-NP +a DT B-NP +certain JJ I-NP +amount NN I-NP +in IN B-PP +return NN B-NP +for IN B-PP +the DT B-NP +option NN I-NP +to TO B-VP +convert VB I-VP +its PRP$ B-NP +interest NN I-NP +into IN B-PP +equity NN B-NP +, , O +usually RB B-ADVP +less JJR B-NP +than IN I-NP +50 CD I-NP +% NN I-NP +, , O +at IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +loan NN I-NP +term NN I-NP +. . O + +During IN B-PP +the DT B-NP +term NN I-NP +, , O +the DT B-NP +lender NN I-NP +can MD B-VP +either DT I-VP +receive VB I-VP +a DT B-NP +percentage NN I-NP +of IN B-PP +cash NN B-NP +flow NN I-NP +, , O +a DT B-NP +percentage NN I-NP +of IN B-PP +the DT B-NP +building NN I-NP +'s POS B-NP +appreciation NN I-NP +or CC O +a DT B-NP +fixed VBN I-NP +return NN I-NP +. . O + +The DT B-NP +main JJ I-NP +advantage NN I-NP +of IN B-PP +a DT B-NP +convertible JJ I-NP +mortgage NN I-NP +is VBZ B-VP +that IN B-SBAR +it PRP B-NP +is VBZ B-VP +not RB O +a DT B-NP +sale NN I-NP +and CC O +therefore RB B-ADVP +does VBZ B-VP +not RB I-VP +trigger VB I-VP +costly JJ B-NP +transfer NN I-NP +taxes NNS I-NP +and CC I-NP +reappraisal NN I-NP +. . O + +Sears NNP B-NP +said VBD B-VP +it PRP B-NP +would MD B-VP +put VB I-VP +the DT B-NP +110-story JJ I-NP +tower NN I-NP +on IN B-PP +the DT B-NP +block NN I-NP +almost RB B-NP +a DT I-NP +year NN I-NP +ago RB B-ADVP +as IN B-PP +part NN B-NP +of IN B-PP +its PRP$ B-NP +anti-takeover JJ I-NP +restructuring NN I-NP +. . O + +But CC O +Japanese JJ B-NP +institutions NNS I-NP +shied VBD B-VP +away RB B-ADVP +from IN B-PP +bidding NN B-VP +on IN B-PP +the DT B-NP +high-profile JJ I-NP +tower NN I-NP +out IN B-PP +of IN B-PP +fear VB B-NP +their PRP$ B-NP +purchase NN I-NP +of IN B-PP +the DT B-NP +property NN I-NP +would MD B-VP +trigger VB I-VP +anti-Japanese JJ B-NP +sentiment NN I-NP +. . O + +Last JJ B-NP +summer NN I-NP +, , O +Sears NNP B-NP +appeared VBD B-VP +to TO I-VP +have VB I-VP +a DT B-NP +deal NN I-NP +with IN B-PP +Canadian JJ B-NP +developer NN I-NP +Olympia NNP I-NP +& CC I-NP +York NNP I-NP +Developments NNP I-NP +Ltd NNP I-NP +. . O + +But CC O +that DT B-NP +deal NN I-NP +fell VBD B-VP +through IN B-ADVP +in IN B-PP +September NNP B-NP +after IN B-SBAR +it PRP B-NP +became VBD B-VP +clear JJ B-ADJP +that IN B-SBAR +the DT B-NP +sale NN I-NP +would MD B-VP +lead VB I-VP +to TO B-PP +a DT B-NP +major JJ I-NP +real JJ I-NP +estate NN I-NP +tax NN I-NP +reassessment NN I-NP +, , O +raising VBG B-VP +property NN B-NP +taxes NNS I-NP +, , O +and CC O +making VBG B-VP +it PRP B-NP +difficult JJ B-ADJP +to TO B-VP +lease VB I-VP +the DT B-NP +building NN I-NP +at IN B-PP +competitive JJ B-NP +prices NNS I-NP +. . O + +Real JJ B-NP +estate NN I-NP +industry NN I-NP +executives NNS I-NP +said VBD B-VP +Sears NNP B-NP +' POS B-NP +investment NN I-NP +banker NN I-NP +, , O +Goldman NNP B-NP +, , I-NP +Sachs NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +sought VBD B-VP +financing NN B-NP +in IN B-PP +Japan NNP B-NP +. . O + +However RB B-ADVP +, , O +Japanese JJ B-NP +authorities NNS I-NP +apparently RB B-ADVP +were VBD B-VP +concerned VBN B-ADJP +that IN B-SBAR +a DT B-NP +refinancing NN I-NP +also RB B-ADVP +would MD B-VP +attract VB I-VP +too RB B-NP +much JJ I-NP +publicity NN I-NP +. . O + +Sears NNP B-NP +then RB B-ADVP +went VBD B-VP +back RB B-ADVP +to TO B-PP +AEW NNP B-NP +, , O +the DT B-NP +Boston NNP I-NP +pension NN I-NP +adviser NN I-NP +that WDT B-NP +had VBD B-VP +proposed VBN I-VP +a DT B-NP +convertible JJ I-NP +debt NN I-NP +deal NN I-NP +during IN B-PP +the DT B-NP +first JJ I-NP +round NN I-NP +of IN B-PP +bids NNS B-NP +last JJ B-NP +spring NN I-NP +. . O + +AEW NNP B-NP +has VBZ B-VP +$ $ B-NP +3.5 CD I-NP +billion CD I-NP +of IN B-PP +real JJ B-NP +estate NN I-NP +investments NNS I-NP +nationwide JJ B-ADVP +, , O +according VBG B-PP +to TO B-PP +a DT B-NP +spokesman NN I-NP +. . O + +Tandy NNP B-NP +Corp. NNP I-NP +said VBD B-VP +it PRP B-NP +signed VBD B-VP +a DT B-NP +definitive JJ I-NP +agreement NN I-NP +to TO B-VP +acquire VB I-VP +two CD B-NP +units NNS I-NP +of IN B-PP +Datatronic NNP B-NP +AB NNP I-NP +of IN B-PP +Stockholm NNP B-NP +for IN B-PP +cash NN B-NP +. . O + +The DT B-NP +amount NN I-NP +was VBD B-VP +n't RB I-VP +disclosed VBN I-VP +. . O + +The DT B-NP +electronics NNS I-NP +maker NN I-NP +and CC I-NP +retailer NN I-NP +previously RB B-ADVP +estimated VBD B-VP +the DT B-NP +sale NN I-NP +price NN I-NP +at IN B-PP +between IN B-NP +$ $ I-NP +100 CD I-NP +million CD I-NP +and CC I-NP +$ $ I-NP +200 CD I-NP +million CD I-NP +for IN B-PP +Datatronic NNP B-NP +'s POS B-NP +Victor NNP I-NP +microcomputer NN I-NP +and CC I-NP +Micronic NNP I-NP +hand-held JJ I-NP +computer NN I-NP +subsidiaries NNS I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +Tandy NNP B-NP +will MD B-VP +acquire VB I-VP +rights NNS B-NP +to TO B-PP +the DT B-NP +Victor NNP I-NP +and CC I-NP +Micronic NNP I-NP +names NNS I-NP +for IN B-PP +computers NNS B-NP +. . O + +During IN B-PP +1988 CD B-NP +, , O +the DT B-NP +Datatronic NNP I-NP +subsidiaries NNS I-NP +had VBD B-VP +combined VBN B-NP +sales NNS I-NP +in IN B-PP +excess NN B-NP +of IN B-PP +$ $ B-NP +200 CD I-NP +million CD I-NP +. . O + +The DT B-NP +transaction NN I-NP +will MD B-VP +give VB I-VP +Tandy NNP B-NP +a DT B-NP +well-known JJ I-NP +European JJ I-NP +computer NN I-NP +brand NN I-NP +that WDT B-NP +includes VBZ B-VP +2,700 CD B-NP +dealers NNS I-NP +and CC I-NP +distributors NNS I-NP +marketing NN B-VP +to TO B-PP +medium-sized JJ B-NP +business NN I-NP +and CC I-NP +educational JJ I-NP +institutions NNS I-NP +. . O + +Closing NN B-NP +of IN B-PP +the DT B-NP +transaction NN I-NP +is VBZ B-VP +subject NN B-ADJP +to TO B-PP +certain JJ B-NP +conditions NNS I-NP +and CC I-NP +regulatory JJ I-NP +approvals NNS I-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +. . O + +Two CD B-NP +rules NNS I-NP +in IN B-PP +pending VBG B-NP +congressional JJ I-NP +legislation NN I-NP +threaten VB B-VP +to TO I-VP +hinder VB I-VP +leveraged JJ B-NP +buy-outs NNS I-NP +by IN B-PP +raising VBG B-VP +the DT B-NP +price NN I-NP +tags NNS I-NP +of IN B-PP +such JJ B-NP +deals NNS I-NP +by IN B-PP +as RB B-NP +much JJ I-NP +as IN I-NP +10 CD I-NP +% NN I-NP +. . O + +Wall NNP B-NP +Street NNP I-NP +is VBZ B-VP +seething VBG I-VP +over IN B-PP +the DT B-NP +rules NNS I-NP +, , O +which WDT B-NP +would MD B-VP +curtail VB I-VP +the DT B-NP +tax NN I-NP +deductibility NN I-NP +of IN B-PP +debt NN B-NP +used VBN B-VP +in IN B-PP +most RBS B-NP +LBOs NNS I-NP +. . O + +The DT B-NP +provisions NNS I-NP +, , O +in IN B-PP +deficit-reduction NN B-NP +bills NNS I-NP +recently RB B-VP +passed VBN I-VP +by IN B-PP +the DT B-NP +House NNP I-NP +and CC I-NP +Senate NNP I-NP +, , O +could MD B-VP +further VB I-VP +cool VB I-VP +the DT B-NP +takeover NN I-NP +boom NN I-NP +that WDT B-NP +has VBZ B-VP +been VBN I-VP +the DT B-NP +driving VBG I-NP +force NN I-NP +behind IN B-PP +the DT B-NP +bull NN I-NP +market NN I-NP +in IN B-PP +stocks NNS B-NP +for IN B-PP +much NN B-NP +of IN B-PP +the DT B-NP +1980s CD I-NP +, , O +some DT B-NP +tax NN I-NP +experts NNS I-NP +and CC I-NP +investment NN I-NP +bankers NNS I-NP +argue VBP B-VP +. . O + +Indeed RB B-ADVP +, , O +some DT B-NP +investment NN I-NP +bankers NNS I-NP +have VBP B-VP +already RB I-VP +started VBN I-VP +restructuring NN I-VP +deals NNS B-NP +to TO B-VP +cope VB I-VP +with IN B-PP +the DT B-NP +expected VBN I-NP +rules NNS I-NP +. . O + +Wall NNP B-NP +Street NNP I-NP +has VBZ B-VP +all DT I-VP +but CC I-VP +conceded VBN I-VP +on IN B-PP +the DT B-NP +issue NN I-NP +and CC O +is VBZ B-VP +now RB I-VP +lobbying VBG I-VP +for IN B-PP +the DT B-NP +less RBR I-NP +onerous JJ I-NP +Senate NNP I-NP +version NN I-NP +of IN B-PP +one CD B-NP +of IN B-PP +the DT B-NP +provisions NNS I-NP +. . O + +At IN B-PP +issue NN B-NP +is VBZ B-VP +the DT B-NP +deductibility NN I-NP +of IN B-PP +certain JJ B-NP +junk NN I-NP +bonds NNS I-NP +that WDT B-NP +are VBP B-VP +used VBN I-VP +in IN B-PP +most RBS B-NP +LBOs NNS I-NP +. . O + +Such JJ B-NP +high-yield JJ I-NP +debt NN I-NP +is VBZ B-VP +similar JJ B-ADJP +to TO B-PP +a DT B-NP +zero-coupon JJ I-NP +bond NN I-NP +in IN B-SBAR +that DT I-SBAR +it PRP B-NP +is VBZ B-VP +sold VBN I-VP +at IN B-PP +a DT B-NP +discount NN I-NP +to TO B-PP +face VB B-NP +value NN I-NP +, , O +with IN B-PP +interest NN B-NP +accruing VBG B-VP +instead RB B-CONJP +of IN I-CONJP +being VBG B-VP +paid VBN I-VP +to TO B-PP +the DT B-NP +holder NN I-NP +. . O + +Under IN B-PP +current JJ B-NP +rules NNS I-NP +, , O +that IN B-NP +accrued VBN I-NP +interest NN I-NP +is VBZ B-VP +deductible JJ B-ADJP +by IN B-PP +the DT B-NP +company NN I-NP +issuing VBG B-VP +the DT B-NP +debt NN I-NP +. . O + +The DT B-NP +House NNP I-NP +version NN I-NP +of IN B-PP +the DT B-NP +legislation NN I-NP +would MD B-VP +kill VB I-VP +that DT B-NP +deduction NN I-NP +, , O +and CC O +label VB B-VP +any DT B-NP +such JJ I-NP +debt NN I-NP +as IN B-PP +equity NN B-NP +, , O +which WDT B-NP +is VBZ B-VP +n't RB O +deductible JJ B-ADJP +. . O + +The DT B-NP +less-rigorous JJR I-NP +Senate NNP I-NP +version NN I-NP +would MD B-VP +defer VB I-VP +the DT B-NP +deductibility NN I-NP +for IN B-PP +roughly RB B-NP +five CD I-NP +years NNS I-NP +. . O + +`` `` O +You PRP B-NP +see VBP B-VP +these DT B-NP +in NN B-PP +just RB B-ADVP +about IN I-ADVP +every DT B-NP +LBO NNP I-NP +, , O +'' '' O +said VBD B-VP +Robert NNP B-NP +Willens NNP I-NP +, , O +senior JJ B-NP +vice NN I-NP +president NN I-NP +in IN B-PP +charge NN B-NP +of IN B-PP +tax NN B-NP +issues NNS I-NP +at IN B-PP +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +Inc. NNP I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +. . O + +`` `` O +It PRP B-NP +becomes VBZ B-VP +a DT B-NP +source NN I-NP +of IN B-PP +cash NN B-NP +'' '' O +for IN B-PP +the DT B-NP +company NN I-NP +making VBG B-VP +the DT B-NP +LBO NNP I-NP +because IN B-SBAR +it PRP B-NP +gets VBZ B-VP +a DT B-NP +deduction NN I-NP +and CC O +does VBZ B-VP +n't RB I-VP +have VB I-VP +to TO I-VP +repay VB I-VP +the DT B-NP +debt NN I-NP +for IN B-PP +several JJ B-NP +years NNS I-NP +. . O + +Typically RB B-ADVP +, , O +Mr. NNP B-NP +Willens NNP I-NP +estimates VBZ B-VP +, , O +this DT B-NP +type NN I-NP +of IN B-PP +debt NN B-NP +makes VBZ B-VP +up IN B-PRT +15 CD B-NP +% NN I-NP +to TO O +20 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +financing NN I-NP +for IN B-PP +LBOs NNS B-NP +. . O + +These DT B-NP +types NNS I-NP +of IN B-PP +bonds NNS B-NP +have VBP B-VP +been VBN I-VP +used VBN I-VP +in IN B-PP +buy-outs NNS B-NP +of IN B-PP +companies NNS B-NP +such JJ B-PP +as IN I-PP +RJR NNP B-NP +Nabisco NNP I-NP +Inc. NNP I-NP +, , O +Storer NNP B-NP +Communications NNP I-NP +Inc. NNP I-NP +and CC O +Kroger NNP B-NP +Co NNP I-NP +. . O + +A DT B-NP +second JJ I-NP +provision NN I-NP +passed VBN B-VP +by IN B-PP +the DT B-NP +Senate NNP I-NP +and CC I-NP +House NNP I-NP +would MD B-VP +eliminate VB I-VP +a DT B-NP +rule NN I-NP +allowing VBG B-VP +companies NNS B-NP +that IN B-NP +post NN B-VP +losses NNS B-NP +resulting VBG B-VP +from IN B-PP +LBO NNP B-NP +debt NN I-NP +to TO B-VP +receive VB I-VP +refunds NNS B-NP +of IN B-PP +taxes NNS B-NP +paid VBN B-VP +over IN B-PP +the DT B-NP +previous JJ I-NP +three CD I-NP +years NNS I-NP +. . O + +For IN B-PP +example NN B-NP +, , O +if IN B-SBAR +a DT B-NP +company NN I-NP +posted VBD B-VP +a DT B-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +100 CD I-NP +million CD I-NP +from IN B-PP +buy-out NN B-NP +interest NN I-NP +payments NNS I-NP +, , O +the DT B-NP +existing VBG I-NP +rule NN I-NP +would MD B-VP +allow VB I-VP +the DT B-NP +concern NN I-NP +to TO B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +receive VB I-VP +a DT B-NP +refund NN I-NP +from IN B-PP +the DT B-NP +tax NN I-NP +it PRP B-NP +paid VBD B-VP +from IN B-PP +1986 CD B-NP +through IN B-PP +1989 CD B-NP +, , O +when WRB B-ADVP +it PRP B-NP +may MD B-VP +have VB I-VP +been VBN I-VP +a DT B-NP +profitable JJ I-NP +public JJ I-NP +company NN I-NP +. . O + +But CC O +that DT B-NP +rule NN I-NP +is VBZ B-VP +being VBG I-VP +virtually RB I-VP +overlooked VBN I-VP +by IN B-PP +Wall NNP B-NP +Street NNP I-NP +, , O +which WDT B-NP +is VBZ B-VP +concentrating VBG I-VP +on IN B-PP +coping VBG B-VP +with IN B-PP +the DT B-NP +deduction NN I-NP +issue NN I-NP +. . O + +`` `` O +Prices NNS B-NP +for IN B-PP +LBOs NNS B-NP +have VBP B-VP +to TO I-VP +come VB I-VP +down RB B-ADVP +if IN B-SBAR +you PRP B-NP +do VBP B-VP +n't RB I-VP +have VB I-VP +that DT B-NP +feature NN I-NP +, , O +'' '' O +argued VBD B-VP +Lawrence NNP B-NP +Schloss NNP I-NP +, , O +managing VBG B-NP +director NN I-NP +for IN B-PP +merchant NN B-NP +banking NN I-NP +at IN B-PP +Donaldson NNP B-NP +, , I-NP +Lufkin NNP I-NP +& CC I-NP +Jenrette NNP I-NP +Securities NNP I-NP +Corp. NNP I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +. . O + +Several NNP B-NP +Wall NNP I-NP +Street NNP I-NP +officials NNS I-NP +say VBP B-VP +the DT B-NP +proposed VBN I-NP +legislation NN I-NP +already RB B-ADVP +is VBZ B-VP +having VBG I-VP +an DT B-NP +impact NN I-NP +. . O + +An DT B-NP +investment NN I-NP +group NN I-NP +led VBN B-VP +by IN B-PP +Chicago NNP B-NP +'s POS B-NP +Pritzker NNP I-NP +family NN I-NP +recently RB B-ADVP +lowered VBD B-VP +a DT B-NP +$ $ I-NP +3.35 CD I-NP +billion CD I-NP +bid NN I-NP +for IN B-PP +American NNP B-NP +Medical NNP I-NP +International NNP I-NP +, , O +Beverly NNP B-NP +Hills NNP I-NP +, , O +Calif. NNP B-NP +, , O +because IN B-PP +of IN I-PP +the DT B-NP +threat NN I-NP +of IN B-PP +the DT B-NP +legislation NN I-NP +. . O + +Moreover RB B-ADVP +, , O +one CD B-NP +investment NN I-NP +banker NN I-NP +, , O +who WP B-NP +requested VBD B-VP +anonymity NN B-NP +, , O +said VBD B-VP +his PRP$ B-NP +firm NN I-NP +did VBD B-VP +n't RB I-VP +raise VB I-VP +the DT B-NP +ante NN I-NP +for IN B-PP +a DT B-NP +target NN I-NP +company NN I-NP +earlier RBR B-NP +this DT I-NP +month NN I-NP +after IN B-SBAR +a DT B-NP +stronger JJR I-NP +bid NN I-NP +emerged VBD B-VP +from IN B-PP +a DT B-NP +public JJ I-NP +company NN I-NP +that WDT B-NP +was VBD B-VP +n't RB O +concerned VBN B-ADJP +about IN B-PP +the DT B-NP +financing NN I-NP +provision NN I-NP +. . O + +`` `` O +We PRP B-NP +would MD B-VP +have VB I-VP +paid VBN I-VP +more JJR B-NP +if IN B-SBAR +we PRP B-NP +thought VBD B-VP +that DT B-NP +law NN I-NP +was VBD B-VP +n't RB I-VP +going VBG I-VP +to TO I-VP +pass VB I-VP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +One CD B-NP +possible JJ I-NP +solution NN I-NP +for IN B-PP +Wall NNP B-NP +Street NNP I-NP +is VBZ B-VP +to TO B-VP +increase VB I-VP +the DT B-NP +equity NN I-NP +part NN I-NP +of IN B-PP +the DT B-NP +transaction NN I-NP +-- : O +that DT B-NP +is VBZ B-VP +, , O +give VB B-VP +lenders NNS B-NP +a DT B-NP +bigger JJR I-NP +stake NN I-NP +in IN B-PP +the DT B-NP +surviving VBG I-NP +company NN I-NP +rather RB B-PP +than IN I-PP +just RB B-NP +interest NN I-NP +payments NNS I-NP +. . O + +That DT B-NP +would MD B-VP +force VB I-VP +the DT B-NP +buy-out NN I-NP +firm NN I-NP +and CC O +the DT B-NP +target NN I-NP +company NN I-NP +'s POS B-NP +management NN I-NP +to TO B-VP +reduce VB I-VP +their PRP$ B-NP +level NN I-NP +of IN B-PP +ownership NN B-NP +. . O + +`` `` O +The DT B-NP +pigs NNS I-NP +in IN B-PP +the DT B-NP +trough NN I-NP +may MD B-VP +have VB I-VP +to TO I-VP +give VB I-VP +a DT B-NP +little JJ I-NP +bit NN I-NP +of IN B-PP +the DT B-NP +slop NN I-NP +back RB B-ADVP +and CC O +then RB O +the DT B-NP +deal NN I-NP +can MD B-VP +go VB I-VP +through IN B-ADVP +, , O +'' '' O +said VBD B-VP +Peter NNP B-NP +C. NNP I-NP +Canellos NNP I-NP +, , O +tax NN B-NP +partner NN I-NP +at IN B-PP +Wachtell NNP B-NP +, , I-NP +Lipton NNP I-NP +, , I-NP +Rosen NNP I-NP +& CC I-NP +Katz NNP I-NP +. . O + +Another DT B-NP +solution NN I-NP +, , O +said VBD B-VP +a DT B-NP +tax NN I-NP +lawyer NN I-NP +who WP B-NP +requested VBD B-VP +anonymity NN B-NP +, , O +is VBZ B-VP +for IN B-SBAR +firms NNS B-NP +to TO B-VP +use VB I-VP +convertible JJ B-NP +bonds NNS I-NP +that WDT B-NP +sell VBP B-VP +at IN B-PP +a DT B-NP +discount NN I-NP +. . O + +Since IN B-SBAR +they PRP B-NP +have VBP B-VP +a DT B-NP +lower JJR I-NP +interest NN I-NP +rate NN I-NP +, , O +they PRP B-NP +would MD B-VP +n't RB I-VP +fall VB I-VP +under IN B-PP +the DT B-NP +junk-bond NN I-NP +category NN I-NP +that WDT B-NP +would MD B-VP +lose VB I-VP +its PRP$ B-NP +deductibility NN I-NP +. . O + +The DT B-NP +House NNP I-NP +version NN I-NP +of IN B-PP +the DT B-NP +bill NN I-NP +would MD B-VP +make VB I-VP +debt NN B-NP +non-deductible JJ B-ADJP +if IN B-SBAR +it PRP B-NP +pays VBZ B-VP +five CD B-NP +percentage NN I-NP +points NNS I-NP +above IN B-PP +Treasury NNP B-NP +notes NNS I-NP +, , O +has VBZ B-VP +at IN B-ADVP +least JJS I-ADVP +a DT B-NP +five-year JJ I-NP +maturity NN I-NP +and CC O +does VBZ B-VP +n't RB I-VP +pay VB I-VP +interest NN B-NP +for IN B-PP +at IN B-NP +least JJS I-NP +one CD I-NP +year NN I-NP +out IN B-PP +of IN B-PP +the DT B-NP +first JJ I-NP +five CD I-NP +. . O + +The DT B-NP +bill NN I-NP +would MD B-VP +then RB I-VP +declare VB I-VP +that IN B-SBAR +the DT B-NP +debt NN I-NP +is VBZ B-VP +equity NN B-NP +and CC O +therefore RB B-ADVP +is VBZ B-VP +n't RB O +deductible JJ B-ADJP +. . O + +The DT B-NP +Senate NNP I-NP +bill NN I-NP +would MD B-VP +only RB I-VP +deny VB I-VP +the DT B-NP +deduction NN I-NP +until IN B-SBAR +interest NN B-NP +is VBZ B-VP +actually RB I-VP +paid VBN I-VP +. . O + +Currently RB B-ADVP +, , O +even RB B-SBAR +though IN I-SBAR +the DT B-NP +issuer NN I-NP +does VBZ B-VP +n't RB I-VP +pay VB I-VP +tax NN B-NP +, , O +the DT B-NP +debt NN I-NP +holder NN I-NP +is VBZ B-VP +taxed VBN I-VP +on IN B-PP +the DT B-NP +accrued VBN I-NP +interest NN I-NP +. . O + +But CC O +those DT B-NP +holders NNS I-NP +are VBP B-VP +often RB B-ADVP +foreign JJ B-NP +investors NNS I-NP +and CC O +tax-exempt JJ B-NP +pension NN I-NP +funds NNS I-NP +that WDT B-NP +do VBP B-VP +n't RB I-VP +pay VB I-VP +taxes NNS B-NP +on IN B-PP +their PRP$ B-NP +holdings NNS I-NP +. . O + +The DT B-NP +Senate NNP I-NP +estimates NNS B-VP +that IN B-SBAR +its PRP$ B-NP +version NN I-NP +of IN B-PP +the DT B-NP +provision NN I-NP +would MD B-VP +yield VB I-VP +$ $ B-NP +17 CD I-NP +million CD I-NP +the DT B-NP +first JJ I-NP +year NN I-NP +and CC O +a DT B-NP +total NN I-NP +of IN B-PP +$ $ B-NP +409 CD I-NP +million CD I-NP +over IN B-PP +five CD B-NP +years NNS I-NP +. . O + +The DT B-NP +House NNP I-NP +version NN I-NP +would MD B-VP +raise VB I-VP +slightly RB B-NP +more JJR I-NP +. . O + +Even RB B-SBAR +if IN I-SBAR +Wall NNP B-NP +Street NNP I-NP +finds VBZ B-VP +ways NNS B-NP +around IN B-PP +the DT B-NP +new JJ I-NP +rules NNS I-NP +, , O +a DT B-NP +Senate NNP I-NP +aide NN I-NP +contends VBZ B-VP +LBOs NNS B-NP +will MD B-VP +become VB I-VP +somewhat RB B-ADJP +more RBR I-ADJP +difficult JJ I-ADJP +. . O + +`` `` O +There EX B-NP +'s VBZ B-VP +no DT B-NP +question NN I-NP +it PRP B-NP +will MD B-VP +make VB I-VP +LBOs NNS B-NP +more RBR B-ADJP +expensive JJ I-ADJP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +`` `` O +The DT B-NP +interest NN I-NP +deduction NN I-NP +was VBD B-VP +the DT B-NP +engine NN I-NP +that WDT B-NP +made VBD B-VP +these DT B-NP +things NNS I-NP +more RBR B-ADJP +productive JJ I-ADJP +. . O + +The DT B-NP +average JJ I-NP +publicly RB I-NP +offered VBN I-NP +commodity NN I-NP +fund NN I-NP +fell VBD B-VP +4.2 CD B-NP +% NN I-NP +in IN B-PP +September NNP B-NP +, , O +largely RB B-ADVP +because IN B-PP +of IN I-PP +the DT B-NP +volatile JJ I-NP +markets NNS I-NP +in IN B-PP +foreign JJ B-NP +currencies NNS I-NP +, , O +according VBG B-PP +to TO B-PP +Norwood NNP B-NP +Securities NNPS I-NP +. . O + +The DT B-NP +firm NN I-NP +said VBD B-VP +that IN B-SBAR +losers NNS B-NP +outnumbered VBD B-VP +gainers NNS B-NP +by IN B-PP +more JJR B-NP +than IN B-PP +three CD B-NP +to TO B-PP +one CD B-NP +among IN B-PP +the DT B-NP +122 CD I-NP +funds NNS I-NP +it PRP B-NP +tracks VBZ B-VP +. . O + +For IN B-PP +the DT B-NP +first JJ I-NP +nine CD I-NP +months NNS I-NP +of IN B-PP +the DT B-NP +year NN I-NP +, , O +Norwood NNP B-NP +said VBD B-VP +the DT B-NP +average JJ I-NP +fund NN I-NP +has VBZ B-VP +lost VBN I-VP +3.3 CD B-NP +% NN I-NP +. . O + +The DT B-NP +government NN I-NP +moved VBD B-VP +aggressively RB B-ADVP +to TO B-VP +open VB I-VP +the DT B-NP +spigots NNS I-NP +of IN B-PP +federal JJ B-NP +aid NN I-NP +for IN B-PP +victims NNS B-NP +of IN B-PP +the DT B-NP +California NNP I-NP +earthquake NN I-NP +, , O +but CC O +its PRP$ B-NP +reservoir NN I-NP +of IN B-PP +emergency NN B-NP +funds NNS I-NP +must MD B-VP +be VB I-VP +replenished VBN I-VP +soon RB B-ADVP +if IN B-SBAR +the DT B-NP +aid NN I-NP +is VBZ B-VP +to TO I-VP +continue VB I-VP +. . O + +President NNP B-NP +Bush NNP I-NP +signed VBD B-VP +a DT B-NP +disaster NN I-NP +declaration NN I-NP +covering VBG B-VP +seven CD B-NP +Northern NNP I-NP +California NNP I-NP +counties NNS I-NP +. . O + +The DT B-NP +declaration NN I-NP +immediately RB B-ADVP +made VBD B-VP +the DT B-NP +counties NNS I-NP +eligible JJ B-ADJP +for IN B-PP +temporary JJ B-NP +housing NN I-NP +, , O +grants NNS B-NP +and CC O +low-cost JJ B-NP +loans NNS I-NP +to TO B-VP +cover VB I-VP +uninsured JJ B-NP +property NN I-NP +losses NNS I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +an DT B-NP +unusually RB I-NP +wide JJ I-NP +array NN I-NP +of IN B-PP +federal JJ B-NP +agencies NNS I-NP +moved VBD B-VP +to TO I-VP +provide VB I-VP +specialized JJ B-NP +assistance NN I-NP +. . O + +The DT B-NP +Department NNP I-NP +of IN B-PP +Housing NNP B-NP +and CC O +Urban NNP B-NP +Development NNP I-NP +prepared VBD B-VP +to TO I-VP +make VB I-VP +as RB B-NP +many JJ I-NP +as IN I-NP +100 CD I-NP +vacant JJ I-NP +houses NNS I-NP +available JJ B-ADJP +for IN B-PP +those DT B-NP +left VBN B-VP +homeless JJ B-ADJP +, , O +the DT B-NP +Agriculture NNP I-NP +Department NNP I-NP +was VBD B-VP +set VBN I-VP +to TO I-VP +divert VB I-VP +food NN B-NP +from IN B-PP +the DT B-NP +school-lunch NN I-NP +program NN I-NP +to TO B-PP +earthquake NN B-NP +victims NNS I-NP +, , O +and CC O +the DT B-NP +Pentagon NNP I-NP +was VBD B-VP +providing VBG I-VP +everything NN B-NP +from IN B-PP +radio NN B-NP +communications NNS I-NP +to TO B-PP +blood NN B-NP +transfusions NNS I-NP +to TO B-PP +military JJ B-NP +police NN I-NP +for IN B-PP +directing VBG B-VP +traffic NN B-NP +. . O + +But CC O +the DT B-NP +pool NN I-NP +of IN B-PP +federal JJ B-NP +emergency-relief NN I-NP +funds NNS I-NP +already RB B-ADVP +is VBZ B-VP +running VBG I-VP +low JJ B-ADJP +because IN B-PP +of IN I-PP +the DT B-NP +heavy JJ I-NP +costs NNS I-NP +of IN B-PP +cleaning NN B-VP +up IN B-PRT +Hurricane NNP B-NP +Hugo NNP I-NP +, , O +and CC O +Congress NNP B-NP +will MD B-VP +be VB I-VP +under IN B-PP +pressure NN B-NP +to TO B-VP +allocate VB I-VP +more JJR B-NP +money NN I-NP +quickly RB B-ADVP +. . O + +In IN B-PP +Hugo NNP B-NP +'s POS B-NP +wake NN I-NP +, , O +Congress NNP B-NP +allocated VBD B-VP +$ $ B-NP +1.1 CD I-NP +billion CD I-NP +in IN B-PP +relief NN B-NP +funds NNS I-NP +, , O +and CC O +White NNP B-NP +House NNP I-NP +spokesman NN I-NP +Marlin NNP I-NP +Fitzwater NNP I-NP +said VBD B-VP +$ $ B-NP +273 CD I-NP +million CD I-NP +of IN B-PP +that DT B-NP +money NN I-NP +remains VBZ B-VP +and CC O +could MD B-VP +be VB I-VP +diverted VBN I-VP +for IN B-PP +quick JJ B-NP +expenditures NNS I-NP +related VBN B-ADJP +to TO B-PP +the DT B-NP +earthquake NN I-NP +. . O + +Now RB B-ADVP +, , O +though RB B-ADVP +, , O +enormous JJ B-NP +costs NNS I-NP +for IN B-PP +earthquake NN B-NP +relief NN I-NP +will MD B-VP +pile VB I-VP +on IN B-PP +top NN B-NP +of IN B-PP +outstanding JJ B-NP +costs NNS I-NP +for IN B-PP +hurricane NN B-NP +relief NN I-NP +. . O + +`` `` O +That DT B-NP +obviously RB B-ADVP +means VBZ B-VP +that IN B-SBAR +we PRP B-NP +wo MD B-VP +n't RB I-VP +have VB I-VP +enough RB B-NP +for IN B-PP +all DT B-NP +of IN B-PP +the DT B-NP +emergencies NNS I-NP +that WDT B-NP +are VBP B-VP +now RB I-VP +facing VBG I-VP +us PRP B-NP +, , O +and CC O +we PRP B-NP +will MD B-VP +have VB I-VP +to TO I-VP +consider VB I-VP +appropriate JJ B-NP +requests NNS I-NP +for IN B-PP +follow-on JJ B-NP +funding NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Fitzwater NNP I-NP +said VBD B-VP +. . O + +The DT B-NP +federal JJ I-NP +government NN I-NP +is VBZ B-VP +n't RB I-VP +even RB I-VP +attempting VBG I-VP +yet RB I-VP +to TO I-VP +estimate VB I-VP +how WRB B-NP +much JJ I-NP +the DT B-NP +earthquake NN I-NP +will MD B-VP +cost VB I-VP +it PRP B-NP +. . O + +But CC O +Mr. NNP B-NP +Fitzwater NNP I-NP +said VBD B-VP +, , O +`` `` O +There EX B-NP +will MD B-VP +be VB I-VP +, , O +I PRP B-NP +think VBP B-VP +quite RB B-ADVP +obviously RB I-ADVP +, , O +a DT B-NP +very RB I-NP +large JJ I-NP +amount NN I-NP +of IN B-PP +money NN B-NP +required VBN B-VP +from IN B-PP +all DT B-NP +levels NNS I-NP +of IN B-PP +government NN B-NP +. . O +'' '' O + +In IN B-PP +Congress NNP B-NP +, , O +lawmakers NNS B-NP +already RB B-ADVP +are VBP B-VP +looking VBG I-VP +for IN B-PP +ways NNS B-NP +to TO B-VP +add VB I-VP +relief NN B-NP +funds NNS I-NP +. . O + +Money NNP B-NP +could MD B-VP +be VB I-VP +added VBN I-VP +to TO B-PP +a DT B-NP +pending VBG I-NP +spending NN I-NP +bill NN I-NP +covering VBG B-VP +the DT B-NP +Federal NNP I-NP +Emergency NNP I-NP +Management NNP I-NP +Agency NNP I-NP +, , O +which WDT B-NP +coordinates VBZ B-VP +federal JJ B-NP +disaster NN I-NP +relief NN I-NP +. . O + +More RBR B-ADVP +likely JJ I-ADVP +, , O +relief NN B-NP +funds NNS I-NP +could MD B-VP +be VB I-VP +added VBN I-VP +to TO B-PP +an DT B-NP +omnibus JJ I-NP +spending NN I-NP +bill NN I-NP +that IN B-NP +Congress NNP B-NP +is VBZ B-VP +to TO I-VP +begin VB I-VP +considering VBG I-VP +next JJ B-NP +week NN I-NP +. . O + +But CC O +it PRP B-NP +is VBZ B-VP +n't RB O +just RB O +Washington NNP B-NP +'s POS B-NP +relief NN I-NP +dollars NNS I-NP +that WDT B-NP +are VBP B-VP +spread NN I-VP +thin JJ B-ADVP +; : O +its PRP$ B-NP +relief NN I-NP +manpower NN I-NP +also RB B-ADVP +is VBZ B-VP +stretched VBN I-VP +. . O + +FEMA NNP B-NP +still RB B-ADVP +has VBZ B-VP +special JJ B-NP +disaster NN I-NP +centers NNS I-NP +open JJ B-ADJP +to TO B-VP +handle VB I-VP +the DT B-NP +aftermath NN I-NP +of IN B-PP +Hugo NNP B-NP +, , O +and CC O +spokesman NN B-NP +Russell NNP I-NP +Clanahan NNP I-NP +acknowledged VBD B-VP +that IN B-SBAR +`` `` O +we PRP B-NP +'re VBP B-VP +pretty RB B-ADJP +thin JJ I-ADJP +. . O +'' '' O + +Mr. NNP B-NP +Clanahan NNP I-NP +says VBZ B-VP +FEMA NNP B-NP +now RB B-ADVP +possibly RB B-ADVP +may MD B-VP +have VB I-VP +the DT B-NP +heaviest JJS I-NP +caseload NN I-NP +in IN B-PP +its PRP$ B-NP +history NN I-NP +. . O + +To TO B-VP +further VB I-VP +complicate VB I-VP +relief NN B-NP +efforts NNS I-NP +, , O +the DT B-NP +privately RB I-NP +funded VBN I-NP +American NNP I-NP +Red NNP I-NP +Cross NNP I-NP +also RB B-ADVP +finds VBZ B-VP +itself PRP B-NP +strapped VBD B-ADJP +for IN B-PP +funds NNS B-NP +after IN B-PP +its PRP$ B-NP +big JJ I-NP +Hugo NNP I-NP +operation NN I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +been VBN I-VP +a DT B-NP +bad JJ I-NP +month NN I-NP +money-wise JJ B-ADVP +and CC B-ADVP +every DT B-NP +other JJ I-NP +way NN I-NP +, , O +'' '' O +said VBD B-VP +Sally NNP B-NP +Stewart NNP I-NP +, , O +a DT B-NP +spokeswoman NN I-NP +for IN B-PP +the DT B-NP +Red NNP I-NP +Cross NNP I-NP +. . O + +`` `` O +It PRP B-NP +just RB B-ADVP +makes VBZ B-VP +it PRP B-NP +a DT B-NP +little JJ I-NP +rough JJ B-ADJP +when WRB B-ADVP +you PRP B-NP +have VBP B-VP +to TO I-VP +worry VB I-VP +about IN B-PP +the DT B-NP +budget NN I-NP +. . O +'' '' O + +The DT B-NP +Red NNP I-NP +Cross NNP I-NP +has VBZ B-VP +opened VBN I-VP +30 CD B-NP +shelters NNS I-NP +in IN B-PP +the DT B-NP +Bay NNP I-NP +area NN I-NP +, , O +serving VBG B-VP +5,000 CD B-NP +people NNS I-NP +. . O + +Twenty-five CD B-NP +trucks NNS I-NP +capable JJ B-ADJP +of IN B-PP +cooking NN B-VP +food NN B-NP +were VBD B-VP +dispatched VBN I-VP +from IN B-PP +other JJ B-NP +states NNS I-NP +. . O + +All DT B-NP +the DT I-NP +precise JJ I-NP +types NNS I-NP +of IN B-PP +federal JJ B-NP +aid NN I-NP +that WDT B-NP +will MD B-VP +be VB I-VP +sent VBN I-VP +to TO B-PP +California NNP B-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +determined VBN I-VP +until IN B-SBAR +state NN B-NP +officials NNS I-NP +make VBP B-VP +specific JJ B-NP +requests NNS I-NP +to TO B-PP +FEMA NNP B-NP +, , O +agency NN B-NP +officials NNS I-NP +said VBD B-VP +. . O + +And CC O +in IN B-PP +the DT B-NP +confusion NN I-NP +after IN B-PP +the DT B-NP +earthquake NN I-NP +, , O +`` `` O +the DT B-NP +information NN I-NP +flow NN I-NP +is VBZ B-VP +a DT B-NP +little JJ I-NP +slow JJ B-ADJP +coming NN B-VP +in IN B-ADVP +from IN B-PP +the DT B-NP +affected VBN I-NP +area NN I-NP +, , O +'' '' O +said VBD B-VP +Carl NNP B-NP +Suchocki NNP I-NP +, , O +a DT B-NP +FEMA NNP I-NP +spokesman NN I-NP +. . O + +Still RB B-ADVP +, , O +some DT B-NP +aid NN I-NP +is VBZ B-VP +moving VBG I-VP +westward RB B-ADVP +from IN B-PP +Washington NNP B-NP +almost RB B-ADVP +immediately RB I-ADVP +. . O + +HUD NNP B-NP +officials NNS I-NP +said VBD B-VP +they PRP B-NP +will MD B-VP +make VB I-VP +available JJ B-ADJP +as RB B-NP +many JJ I-NP +as IN I-NP +100 CD I-NP +Bay NNP I-NP +area NN I-NP +houses NNS I-NP +that WDT B-NP +are VBP B-VP +under IN B-PP +HUD NNP B-NP +loans NNS I-NP +but CC O +now RB B-VP +are VBP I-VP +vacant JJ B-ADJP +after IN B-SBAR +the DT B-NP +houses NNS I-NP +have VBP B-VP +been VBN I-VP +inspected VBN I-VP +to TO B-VP +ensure VB I-VP +they PRP B-NP +are VBP B-VP +sound NN B-ADJP +. . O + +Additional JJ B-NP +housing NN I-NP +vouchers NNS I-NP +and CC I-NP +certificates NNS I-NP +will MD B-VP +be VB I-VP +made VBN I-VP +available JJ B-ADJP +, , O +officials NNS B-NP +said VBD B-VP +, , O +and CC O +some DT B-NP +housing NN I-NP +and CC I-NP +community-development NN I-NP +funds NNS I-NP +may MD B-VP +be VB I-VP +shifted VBN I-VP +from IN B-PP +other JJ B-NP +programs NNS I-NP +or CC O +made VBN B-VP +available JJ B-ADJP +for IN B-PP +emergency NN B-NP +use NN I-NP +. . O + +Another DT B-NP +federal JJ I-NP +agency NN I-NP +not RB B-VP +normally RB I-VP +associated VBN I-VP +with IN B-PP +disaster NN B-NP +relief NN I-NP +-- : O +the DT B-NP +Internal NNP I-NP +Revenue NNP I-NP +Service NNP I-NP +-- : O +moved VBD B-VP +quickly RB B-ADVP +as IN B-ADVP +well RB I-ADVP +. . O + +The DT B-NP +IRS NNP I-NP +said VBD B-VP +it PRP B-NP +will MD B-VP +waive VB I-VP +certain JJ B-NP +tax NN I-NP +penalties NNS I-NP +for IN B-PP +earthquake NN B-NP +victims NNS I-NP +unable JJ B-ADJP +to TO B-VP +meet VB I-VP +return NN B-NP +deadlines NNS I-NP +or CC O +make VB B-VP +payments NNS B-NP +because IN B-PP +of IN I-PP +the DT B-NP +quake NN I-NP +'s POS B-NP +devastation NN I-NP +. . O + +The DT B-NP +agency NN I-NP +plans NNS B-VP +to TO I-VP +announce VB I-VP +specific JJ B-NP +relief NN I-NP +procedures NNS I-NP +in IN B-PP +the DT B-NP +coming VBG I-NP +days NNS I-NP +. . O + +And CC O +the DT B-NP +Treasury NNP I-NP +said VBD B-VP +residents NNS B-NP +of IN B-PP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +area NN I-NP +will MD B-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +cash VB I-VP +in IN B-PRT +savings NNS B-NP +bonds NNS I-NP +even RB B-SBAR +if IN I-SBAR +they PRP B-NP +have VBP B-VP +n't RB I-VP +held VBN I-VP +them PRP B-NP +for IN B-PP +the DT B-NP +minimum JJ I-NP +six-month JJ I-NP +period NN I-NP +. . O + +One CD B-NP +advantage NN I-NP +that IN B-NP +federal JJ B-NP +officials NNS I-NP +have VBP B-VP +in IN B-PP +handling NN B-VP +earthquake NN B-NP +relief NN I-NP +is VBZ B-VP +the DT B-NP +large JJ I-NP +number NN I-NP +of IN B-PP +military JJ B-NP +facilities NNS I-NP +in IN B-PP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +Bay NNP I-NP +area NN I-NP +, , O +facilities NNS B-NP +that WDT B-NP +provide VBP B-VP +a DT B-NP +ready JJ I-NP +base NN I-NP +of IN B-PP +supplies NNS B-NP +and CC I-NP +workers NNS I-NP +. . O + +Even RB B-SBAR +before IN I-SBAR +the DT B-NP +full JJ I-NP +extent NN I-NP +of IN B-PP +the DT B-NP +devastation NN I-NP +was VBD B-VP +known VBN I-VP +, , O +Defense NNP B-NP +Secretary NNP I-NP +Dick NNP I-NP +Cheney NNP I-NP +ordered VBD B-VP +the DT B-NP +military JJ I-NP +services NNS I-NP +to TO B-VP +set VB I-VP +up IN B-PRT +an DT B-NP +emergency NN I-NP +command NN I-NP +center NN I-NP +in IN B-PP +the DT B-NP +Pentagon NNP I-NP +and CC O +prepare VB B-VP +to TO I-VP +respond VB I-VP +to TO B-PP +various JJ B-NP +FEMA NNP I-NP +requests NNS I-NP +for IN B-PP +assistance NN B-NP +. . O + +By IN B-PP +yesterday NN B-NP +afternoon NN I-NP +, , O +Air NNP B-NP +Force NNP I-NP +transport NN I-NP +planes NNS I-NP +began VBD B-VP +moving VBG I-VP +additional JJ B-NP +rescue NN I-NP +and CC I-NP +medical JJ I-NP +supplies NNS I-NP +, , I-NP +physicians NNS I-NP +, , I-NP +communications NNS I-NP +equipment NN I-NP +and CC I-NP +FEMA NNP I-NP +personnel NNS I-NP +to TO B-PP +California NNP B-NP +. . O + +A DT B-NP +military JJ I-NP +jet NN I-NP +flew VBD B-VP +a DT B-NP +congressional JJ I-NP +delegation NN I-NP +and CC O +senior JJ B-NP +Bush NNP I-NP +administration NN I-NP +officials NNS I-NP +to TO B-VP +survey VB I-VP +the DT B-NP +damage NN I-NP +. . O + +And CC O +the DT B-NP +Pentagon NNP I-NP +said VBD B-VP +dozens NNS B-NP +of IN B-PP +additional JJ B-NP +crews NNS I-NP +and CC I-NP +transport NN I-NP +aircraft NN I-NP +were VBD B-VP +on IN B-PP +alert JJ B-ADJP +`` `` O +awaiting VBG B-VP +orders NNS B-NP +to TO B-VP +move VB I-VP +emergency NN B-NP +supplies NNS I-NP +. . O +'' '' O + +Two CD B-NP +Air NNP I-NP +Force NNP I-NP +facilities NNS I-NP +near IN B-PP +Sacramento NNP B-NP +, , O +and CC O +Travis NNP B-NP +Air NNP I-NP +Force NNP I-NP +Base NNP I-NP +, , O +50 CD B-NP +miles NNS I-NP +northeast NN B-ADVP +of IN B-PP +San NNP B-NP +Francisco NNP I-NP +, , O +were VBD B-VP +designated VBN I-VP +to TO B-VP +serve VB I-VP +as IN B-PP +medical-airlift NN B-NP +centers NNS I-NP +. . O + +Some DT B-NP +victims NNS I-NP +also RB B-ADVP +were VBD B-VP +treated VBN I-VP +at IN B-PP +the DT B-NP +Letterman NNP I-NP +Army NNP I-NP +Medical NNP I-NP +Center NNP I-NP +in IN B-PP +San NNP B-NP +Francisco NNP I-NP +and CC B-PP +at IN B-PP +the DT B-NP +Naval NNP I-NP +Hospital NNP I-NP +in IN B-PP +Oakland NNP B-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +20 CD B-NP +military JJ I-NP +police NN I-NP +from IN B-PP +the DT B-NP +Presidio NNP I-NP +, , O +a DT B-NP +military JJ I-NP +base NN I-NP +in IN B-PP +San NNP B-NP +Francisco NNP I-NP +, , O +are VBP B-VP +assisting VBG I-VP +with IN B-PP +traffic NN B-NP +control NN I-NP +, , O +and CC O +a DT B-NP +Navy NNP I-NP +ship NN I-NP +was VBD B-VP +moved VBN I-VP +from IN B-PP +a DT B-NP +naval JJ I-NP +station NN I-NP +at IN B-PP +Treasure NNP B-NP +Island NNP I-NP +near IN B-PP +the DT B-NP +Bay NNP I-NP +Bridge NNP I-NP +to TO B-PP +San NNP B-NP +Francisco NNP I-NP +to TO B-VP +help VB I-VP +fight VB I-VP +fires NNS B-NP +. . O + +To TO B-VP +help VB I-VP +residents NNS B-NP +in IN B-PP +Northern NNP B-NP +California NNP I-NP +rebuild VB B-VP +, , O +FEMA NNP B-NP +intends VBZ B-VP +to TO I-VP +set VB I-VP +up IN B-PRT +17 CD B-NP +disaster NN I-NP +assistance NN I-NP +offices NNS I-NP +in IN B-PP +the DT B-NP +earthquake NN I-NP +area NN I-NP +in IN B-PP +the DT B-NP +next JJ I-NP +several JJ I-NP +days NNS I-NP +and CC O +to TO B-VP +staff VB I-VP +them PRP B-NP +with IN B-PP +400 CD B-NP +to TO I-NP +500 CD I-NP +workers NNS I-NP +from IN B-PP +various JJ B-NP +agencies NNS I-NP +, , O +said VBD B-VP +Robert NNP B-NP +Volland NNP I-NP +, , O +chief NN B-NP +of IN B-PP +the DT B-NP +agency NN I-NP +'s POS B-NP +individual JJ I-NP +assistance NN I-NP +division NN I-NP +. . O + +At IN B-PP +these DT B-NP +offices NNS I-NP +, , O +earthquake NN B-NP +victims NNS I-NP +will MD B-VP +be VB I-VP +helped VBN I-VP +in IN B-PP +filling VBG B-VP +out RP B-PRT +a DT B-NP +one-page JJ I-NP +form NN I-NP +that IN B-NP +they PRP B-NP +will MD B-VP +need VB I-VP +to TO B-VP +qualify VB I-VP +for IN B-PP +such JJ B-NP +federal JJ I-NP +assistance NN I-NP +as IN B-PP +home-improvement NN B-NP +loans NNS I-NP +and CC O +to TO B-VP +repair VB I-VP +houses NNS B-NP +. . O + +And CC O +federal JJ B-NP +officials NNS I-NP +are VBP B-VP +promising JJ I-VP +to TO I-VP +move VB I-VP +rapidly RB B-ADVP +with IN B-PP +federal JJ B-NP +highway NN I-NP +aid NN I-NP +to TO B-VP +rebuild VB I-VP +the DT B-NP +area NN I-NP +'s POS B-NP +severely RB B-ADJP +damaged VBN I-ADJP +road NN B-NP +system NN I-NP +. . O + +The DT B-NP +Federal NNP I-NP +Highway NNP I-NP +Administration NNP I-NP +has VBZ B-VP +an DT B-NP +emergency NN I-NP +relief NN I-NP +program NN I-NP +to TO B-VP +help VB I-VP +states NNS B-NP +and CC O +local JJ B-NP +governments NNS I-NP +repair VBP B-VP +federally RB B-NP +funded VBN I-NP +highways NNS I-NP +and CC I-NP +bridges NNS I-NP +seriously RB B-VP +damaged VBN I-VP +by IN B-PP +natural JJ B-NP +disasters NNS I-NP +. . O + +The DT B-NP +account NN I-NP +currently RB B-ADVP +has VBZ B-VP +$ $ B-NP +220 CD I-NP +million CD I-NP +. . O + +And CC O +though IN B-SBAR +federal JJ B-NP +law NN I-NP +dictates NNS B-VP +that IN B-SBAR +only RB B-NP +$ $ I-NP +100 CD I-NP +million CD I-NP +can MD B-VP +be VB I-VP +disbursed VBN I-VP +from IN B-PP +that DT B-NP +fund NN I-NP +in IN B-PP +any DT B-NP +one CD I-NP +state NN I-NP +per IN B-PP +disaster NN B-NP +, , O +administration NN B-NP +officials NNS I-NP +expect VBP B-VP +Congress NNP B-NP +to TO B-VP +move VB I-VP +in IN B-ADVP +to TO B-VP +authorize VB I-VP +spending NN I-VP +more RBR B-NP +now RB B-ADVP +in IN B-PP +California NNP B-NP +. . O + +To TO B-VP +get VB I-VP +that DT B-NP +money NN I-NP +, , O +states NNS B-NP +must MD B-VP +go VB I-VP +through IN B-PP +an DT B-NP +elaborate JJ I-NP +approval NN I-NP +process NN I-NP +, , O +but CC O +officials NNS B-NP +expect VBP B-VP +red JJ B-NP +tape NN I-NP +to TO B-VP +be VB I-VP +cut VBN I-VP +this DT B-NP +time NN I-NP +. . O + +Keith NNP B-NP +Mulrooney NNP I-NP +, , O +special JJ B-NP +assistant NN I-NP +to TO B-PP +Federal NNP B-NP +Highway NNP I-NP +Administrator NNP I-NP +Thomas NNP I-NP +Larson NNP I-NP +, , O +also RB B-ADVP +said VBD B-VP +that IN B-SBAR +after IN B-PP +the DT B-NP +1971 CD I-NP +San NNP I-NP +Fernando NNP I-NP +earthquake NN I-NP +in IN B-PP +Southern NNP B-NP +California NNP I-NP +, , O +the DT B-NP +state NN I-NP +set VBN B-VP +tougher JJR B-NP +standards NNS I-NP +for IN B-PP +bridges NNS B-NP +, , O +and CC O +with IN B-PP +federal JJ B-NP +aid NN I-NP +, , B-VP +began VBD I-VP +a DT B-NP +program NN I-NP +to TO B-VP +retrofit VB I-VP +highways NNS B-NP +and CC I-NP +bridges NNS I-NP +for IN B-PP +earthquake NN B-NP +hazards NNS I-NP +. . O + +The DT B-NP +first JJ I-NP +phase NN I-NP +of IN B-PP +the DT B-NP +program NN I-NP +has VBZ B-VP +been VBN I-VP +completed VBN I-VP +, , O +but CC O +two CD B-NP +other JJ I-NP +phases NNS I-NP +are VBP B-VP +continuing VBG I-VP +. . O + +The DT B-NP +two CD I-NP +major JJ I-NP +structures NNS I-NP +that WDT B-NP +failed VBD B-VP +Tuesday NNP B-NP +night NN I-NP +, , O +he PRP B-NP +said VBD B-VP +, , O +were VBD B-VP +both DT O +built VBN B-VP +well RB B-ADVP +before IN B-PP +the DT B-NP +1971 CD I-NP +earthquake NN I-NP +-- : O +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +Bay NNP I-NP +Bridge NNP I-NP +, , O +completed VBN B-VP +in IN B-PP +the DT B-NP +1930s CD I-NP +, , O +and CC O +the DT B-NP +section NN I-NP +of IN B-PP +I-880 NN B-NP +, , O +built VBN B-VP +in IN B-PP +the DT B-NP +1950s CD I-NP +. . O + +The DT B-NP +I-880 NN I-NP +section NN I-NP +had VBD B-VP +completed VBN I-VP +the DT B-NP +first JJ I-NP +phase NN I-NP +of IN B-PP +the DT B-NP +retrofitting NN I-NP +. . O + +Laurie NNP B-NP +McGinley NNP I-NP +contributed VBD B-VP +to TO B-PP +this DT B-NP +article NN I-NP +. . O + +FARMERS NNS B-NP +REAP VBP B-VP +abundant JJ B-NP +crops NNS I-NP +. . O + +But CC O +how WRB B-ADVP +much JJ I-ADVP +will MD O +shoppers NNS B-NP +benefit VB B-VP +? . O + +The DT B-NP +harvest NN I-NP +arrives VBZ B-VP +in IN B-PP +plenty NN B-NP +after IN B-PP +last JJ B-NP +year NN I-NP +'s POS B-NP +drought-ravaged JJ I-NP +effort NN I-NP +: : O +The DT B-NP +government NN I-NP +estimates NNS B-VP +corn NN B-NP +output NN I-NP +at IN B-PP +7.45 CD B-NP +billion CD I-NP +bushels NNS I-NP +, , O +up IN B-ADVP +51 CD B-NP +% NN I-NP +from IN B-PP +last JJ B-NP +fall NN I-NP +. . O + +Soybean NN B-NP +production NN I-NP +swells NNS B-VP +24 CD B-NP +% NN I-NP +. . O + +As IN B-PP +a DT B-NP +result NN I-NP +, , O +prices NNS B-NP +paid VBN B-VP +to TO B-PP +farmers NNS B-NP +for IN B-PP +the DT B-NP +commodities NNS I-NP +, , O +which WDT B-NP +are VBP B-VP +used VBN I-VP +in IN B-PP +products NNS B-NP +as RB B-ADJP +diverse JJ I-ADJP +as IN B-PP +bubble NN B-NP +gum NN I-NP +and CC O +chicken NN B-NP +feed NN I-NP +, , O +plummet VB B-VP +20 CD B-NP +% NN I-NP +to TO O +33 CD B-NP +% NN I-NP +. . O + +But CC O +do VBP B-VP +n't RB I-VP +expect VB I-VP +too RB B-NP +much JJ I-NP +in IN B-PP +the DT B-NP +way NN I-NP +of IN B-PP +price NN B-NP +breaks NNS I-NP +soon RB B-ADVP +at IN B-PP +the DT B-NP +supermarket NN I-NP +. . O + +Economists NNS B-NP +expect VBP B-VP +consumer NN B-NP +food NN I-NP +prices NNS I-NP +to TO B-VP +jump VB I-VP +5.5 CD B-NP +% NN I-NP +this DT B-NP +year NN I-NP +to TO B-PP +the DT B-NP +highest JJS I-NP +level NN I-NP +since IN B-PP +1980 CD B-NP +and CC O +up IN B-ADVP +from IN B-PP +last JJ B-NP +year NN I-NP +'s POS B-NP +4.1 CD B-ADJP +% NN I-ADJP +rise NN B-NP +. . O + +Next JJ B-NP +year NN I-NP +may MD B-VP +see VB I-VP +a DT B-NP +drop NN I-NP +of IN B-PP +one CD B-NP +percentage NN I-NP +point NN I-NP +. . O + +Beef NN B-NP +prices NNS I-NP +, , O +hovering VBG B-VP +near IN B-PP +records NNS B-NP +since IN B-PP +the DT B-NP +drought NN I-NP +, , O +could MD B-VP +drop VB I-VP +in IN B-PP +earnest NN B-ADJP +this DT B-NP +winter NN I-NP +if IN B-SBAR +ranchers NNS B-NP +expand VBP B-VP +herds NNS B-NP +. . O + +Lower JJR B-NP +feed NN I-NP +prices NNS I-NP +may MD B-VP +help VB I-VP +animals NNS B-NP +eat VB B-VP +more RBR B-ADVP +cheaply RB I-ADVP +, , O +but CC O +humans NNS B-NP +have VBP B-VP +to TO I-VP +factor VB I-VP +in IN B-PRT +an DT B-NP +expensive JJ I-NP +middleman NN I-NP +: : O +the DT B-NP +processor NN I-NP +. . O + +Food NN B-NP +companies NNS I-NP +probably RB B-ADVP +wo MD B-VP +n't RB I-VP +cut VB I-VP +their PRP$ B-NP +prices NNS I-NP +much JJ B-NP +, , O +blaming VBG B-VP +other JJ B-NP +costs NNS I-NP +. . O + +`` `` O +Labor NNP B-NP +takes VBZ B-VP +the DT B-NP +biggest JJS I-NP +single JJ I-NP +chunk NN I-NP +out IN B-PP +of IN B-PP +the DT B-NP +` `` I-NP +food NN I-NP +dollar NN I-NP +, , O +' '' O +'' '' O +says VBZ B-VP +Frank NNP B-NP +Pankyo NNP I-NP +of IN B-PP +the DT B-NP +Food NNP I-NP +Institute NNP I-NP +. . O + +Stokely NNP B-NP +says VBZ B-VP +stores NNS B-NP +revive VBP B-VP +specials NNS B-NP +like IN B-PP +three CD B-NP +cans NNS I-NP +of IN B-PP +peas NNS B-NP +for IN B-PP +99 CD B-NP +cents NNS I-NP +. . O + +Two CD B-NP +cans NNS I-NP +cost VBP B-VP +89 CD B-NP +cents NNS I-NP +during IN B-PP +the DT B-NP +drought NN I-NP +. . O + +IF IN B-SBAR +IN IN B-NP +VITRO NNP I-NP +fertilization NN I-NP +works NNS B-VP +, , O +it PRP B-NP +usually RB B-ADVP +does VBZ B-VP +so RB B-ADVP +after IN B-PP +only RB B-NP +a DT I-NP +few JJ I-NP +tries NNS I-NP +. . O + +Costly JJ B-NP +infertility NN I-NP +problems NNS I-NP +and CC I-NP +procedures NNS I-NP +proliferate VBP B-VP +as IN B-SBAR +aging VBG B-NP +baby NN I-NP +boomers NNS I-NP +and CC O +others NNS B-NP +decide VBP B-VP +to TO I-VP +have VB I-VP +children NNS B-NP +-- : O +now RB B-ADVP +. . O + +It PRP B-NP +'s VBZ B-VP +estimated VBN I-VP +that IN B-SBAR +one CD B-NP +in IN I-NP +six CD I-NP +couples NNS I-NP +experiences NNS B-VP +infertility NN B-NP +, , O +and CC O +in IN B-PP +1987 CD B-NP +, , O +Americans NNPS B-NP +spent VBD B-VP +about RB B-NP +$ $ I-NP +1 CD I-NP +billion CD I-NP +to TO B-VP +fight VB I-VP +the DT B-NP +problem NN I-NP +. . O + +Only RB B-NP +about IN I-NP +five CD I-NP +states NNS I-NP +now JJ B-ADVP +offer NN B-VP +some DT B-NP +form NN I-NP +of IN B-PP +insurance NN B-NP +coverage NN I-NP +, , O +but CC O +more RBR B-NP +are VBP B-VP +expected VBN I-VP +. . O + +A DT B-NP +letter NN I-NP +in IN B-PP +the DT B-NP +New NNP I-NP +England NNP I-NP +Journal NNP I-NP +of IN B-PP +Medicine NNP B-NP +notes NNS B-VP +that IN B-SBAR +while IN B-SBAR +technology NN B-NP +offers VBZ B-VP +`` `` O +almost RB B-NP +endless JJ I-NP +hope NN I-NP +... : O +when WRB B-ADVP +to TO B-VP +stop VB I-VP +has VBZ B-VP +become VBN I-VP +a DT B-NP +difficult JJ I-NP +question NN I-NP +... : O +. . O +'' '' O + +The DT B-NP +authors NNS I-NP +, , O +from IN B-PP +Boston NNP B-NP +'s POS B-NP +Beth NNP I-NP +Israel NNP I-NP +Hospital NNP I-NP +, , O +say VBP B-VP +that IN B-SBAR +84 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +50 CD I-NP +births NNS I-NP +they PRP B-NP +followed VBD B-VP +occurred VBN B-VP +after IN B-PP +only RB B-NP +two CD I-NP +in IN I-NP +vitro FW I-NP +cycles NNS I-NP +. . O + +It PRP B-NP +adds VBZ B-VP +that IN B-SBAR +births NNS B-NP +were VBD B-VP +`` `` O +extremely RB B-ADJP +unlikely JJ I-ADJP +'' '' O +after IN B-PP +the DT B-NP +fourth JJ I-NP +cycle NN I-NP +and CC O +concludes VBZ B-VP +couples NNS B-NP +who WP B-NP +do VBP B-VP +n't RB I-VP +achieve VB I-VP +a DT B-NP +pregnancy NN I-NP +after IN B-PP +four CD B-NP +to TO I-NP +six CD I-NP +procedures NNS I-NP +should MD B-VP +be VB I-VP +advised VBN I-VP +that DT O +success NN B-NP +is VBZ B-VP +unlikely JJ B-ADJP +. . O + +Some DT B-NP +couples NNS I-NP +continue VBP B-VP +to TO I-VP +try VB I-VP +. . O + +`` `` O +Such JJ B-NP +determination NN I-NP +may MD B-VP +translate VB I-VP +into IN B-PP +extreme JJ B-NP +physical NN I-NP +, , I-NP +emotional JJ I-NP +and CC I-NP +financial JJ I-NP +costs NNS I-NP +, , O +'' '' O +the DT B-NP +letter NN I-NP +warns VBZ B-VP +. . O + +MARKET NNP B-NP +MOVES VBZ B-VP +, , O +these DT B-NP +managers NNS I-NP +do VBP B-VP +n't RB O +. . O + +Only RB B-NP +three CD I-NP +of IN B-PP +the DT B-NP +25 CD I-NP +corporate JJ I-NP +pension NN I-NP +fund NN I-NP +managers NNS I-NP +attending VBG B-VP +a DT B-NP +Lowry NNP I-NP +Consulting NNP I-NP +Group NNP I-NP +client NN I-NP +conference NN I-NP +say VBP B-VP +they PRP B-NP +plan VBP B-VP +to TO I-VP +change VB I-VP +the DT B-NP +asset NN I-NP +allocation NN I-NP +mix NN I-NP +in IN B-PP +their PRP$ B-NP +portfolios NNS I-NP +because IN B-PP +of IN I-PP +the DT B-NP +market NN I-NP +drop NN I-NP +. . O + +WORLD NN B-NP +ODDITIES NNS I-NP +come VBP B-VP +alive JJ B-ADJP +in IN B-PP +a DT B-NP +multimedia NNS I-NP +version NN I-NP +of IN B-PP +the DT B-NP +Guinness NNP I-NP +Book NNP I-NP +of IN B-PP +Records NNPS B-NP +. . O + +The DT B-NP +$ $ I-NP +99 CD I-NP +CD-ROM NNP I-NP +disk NN I-NP +-LRB- ( O +it PRP B-NP +can MD B-VP +only RB I-VP +be VB I-VP +played VBN I-VP +on IN B-PP +an DT B-NP +Apple NNP I-NP +Macintosh NNP I-NP +computer NN I-NP +at IN B-PP +the DT B-NP +moment NN I-NP +-RRB- ) O +combines VBZ B-VP +animation NN B-NP +, , I-NP +music NN I-NP +and CC I-NP +sound NN I-NP +. . O + +Among IN B-PP +the DT B-NP +Guinness NNP I-NP +disk NN I-NP +'s POS B-NP +wonders NNS I-NP +: : O +the DT B-NP +world NN I-NP +'s POS B-NP +loudest RBS I-NP +recorded VBN I-NP +belch NN I-NP +. . O + +ARTY NNP B-NP +FAX NNP I-NP +from IN B-PP +David NNP B-NP +Hockney NNP I-NP +begins VBZ B-VP +a DT B-NP +tongue-in-cheek JJ I-NP +exhibit NN I-NP +today NN B-NP +at IN B-PP +New NNP B-NP +York NNP I-NP +'s POS B-NP +Andre NNP I-NP +Emmerich NNP I-NP +Gallery NNP I-NP +. . O + +One CD B-NP +of IN B-PP +the DT B-NP +artist NN I-NP +'s POS B-NP +earliest JJS I-NP +Fax NNP I-NP +works NNS I-NP +was VBD B-VP +`` `` O +Little NNP B-NP +Stanley NNP I-NP +Sleeping NNP B-VP +, , O +'' '' O +a DT B-NP +portrait NN I-NP +of IN B-PP +his PRP$ B-NP +dog NN I-NP +. . O + +PACS NNS B-NP +GIVE VBP B-VP +and CC I-VP +receive VB I-VP +in IN B-PP +a DT B-NP +debatable JJ I-NP +duet NN I-NP +with IN B-PP +employees NNS B-NP +' POS B-NP +favored VBN I-NP +charities NNS I-NP +. . O + +The DT B-NP +Federal NNP I-NP +Election NNP I-NP +Commission NNP I-NP +clears VBZ B-VP +corporate JJ B-NP +plans NNS I-NP +to TO B-VP +donate VB I-VP +to TO B-PP +an DT B-NP +employee NN I-NP +'s POS B-NP +chosen VBN I-NP +charity NN I-NP +in IN B-PP +exchange NN B-NP +for IN B-PP +the DT B-NP +worker NN I-NP +'s POS B-NP +gift NN I-NP +to TO B-PP +the DT B-NP +company NN I-NP +political JJ I-NP +action NN I-NP +committee NN I-NP +. . O + +Latest JJS B-NP +approvals NNS I-NP +: : O +Bell NNP B-NP +Atlantic NNP I-NP +'s POS B-NP +New NNP I-NP +Jersey NNP I-NP +Bell NNP I-NP +and CC O +General NNP B-NP +Dynamics NNP I-NP +. . O + +Companies NNS B-NP +get VBP B-VP +more RBR B-NP +political JJ I-NP +clout NN I-NP +plus CC B-NP +a DT B-NP +possible JJ I-NP +tax-deductible JJ I-NP +charitable JJ I-NP +donation NN I-NP +-- : O +so RB B-ADVP +far RB I-ADVP +no DT B-NP +word NN I-NP +from IN B-PP +the DT B-NP +IRS NNP I-NP +on IN B-PP +deductibility NN B-NP +. . O + +Detroit NNP B-NP +Edison NNP I-NP +, , O +the DT B-NP +plan NN I-NP +pioneer NN I-NP +, , O +generated VBD B-VP +$ $ B-NP +54,000 CD I-NP +in IN B-PP +matching VBG B-NP +funds VBZ I-NP +this DT B-NP +year NN I-NP +, , O +up IN B-ADVP +from IN B-PP +$ $ B-NP +39,000 CD I-NP +in IN B-PP +1988 CD B-NP +. . O + +But CC O +the DT B-NP +utility NN I-NP +may MD B-VP +not RB I-VP +continue VB I-VP +next JJ B-NP +year NN I-NP +. . O + +`` `` O +We PRP B-NP +'re VBP B-VP +on IN B-PP +a DT B-NP +tight JJ I-NP +budget NN I-NP +, , O +'' '' O +says VBZ B-VP +Detroit NNP B-NP +Edison NNP I-NP +'s POS B-NP +Carol NNP I-NP +Roskind NNP I-NP +. . O + +Two CD B-NP +election NN I-NP +commission NN I-NP +members NNS I-NP +opposed VBD B-VP +the DT B-NP +matching VBG I-NP +plans NNS I-NP +. . O + +Scott NNP B-NP +E. NNP I-NP +Thomas NNP I-NP +says VBZ B-VP +the DT B-NP +plans NNS I-NP +give VBP B-VP +employees NNS B-NP +`` `` O +a DT B-NP +bonus NN I-NP +in IN B-PP +the DT B-NP +form NN I-NP +of IN B-PP +charitable JJ B-NP +donations NNS I-NP +made VBN B-VP +from IN B-PP +an DT B-NP +employer NN I-NP +'s POS B-NP +treasury NN I-NP +'' '' O +in IN B-PP +exchange NN B-NP +for IN B-PP +the DT B-NP +political JJ I-NP +donation NN I-NP +. . O + +`` `` O +The DT B-NP +U.S. NNP I-NP +government NN I-NP +could MD B-VP +be VB I-VP +, , O +in IN B-PP +effect NN B-NP +, , O +subsidizing VBG B-VP +political JJ B-NP +contributions NNS I-NP +to TO B-PP +corporate JJ B-NP +PACs NNPS I-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +New NNP B-NP +Jersey NNP I-NP +Bell NNP I-NP +awaits VBZ B-VP +state NN B-NP +clearance NN I-NP +. . O + +Despite IN B-PP +federal JJ B-NP +approval NN I-NP +, , O +General NNP B-NP +Dynamics NNP I-NP +says VBZ B-VP +it PRP B-NP +decided VBD B-VP +it PRP B-NP +wo MD B-VP +n't RB I-VP +go VB I-VP +ahead RB B-ADVP +with IN B-PP +the DT B-NP +matching VBG I-NP +program NN I-NP +. . O + +CHRISTMAS NNP B-NP +SHOPPERS NNS I-NP +find VBP B-VP +a DT B-NP +helping VBG I-NP +hand NN I-NP +from IN B-PP +some DT B-NP +catalog NN I-NP +companies NNS I-NP +. . O + +Blunt NNP B-NP +Ellis NNP I-NP +& CC I-NP +Loewi NNP I-NP +estimates NNS B-VP +direct JJ B-NP +mail NN I-NP +catalog NN I-NP +sales NNS I-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +12 CD I-NP +billion CD I-NP +last JJ B-NP +year NN I-NP +. . O + +And CC O +while IN B-SBAR +it PRP B-NP +'s VBZ B-VP +too RB B-ADVP +soon RB I-ADVP +to TO B-VP +tell VB I-VP +how WRB B-ADVP +sales NNS B-NP +will MD B-VP +fare VB I-VP +in IN B-PP +the DT B-NP +important JJ I-NP +1989 CD I-NP +Christmas NNP I-NP +season NN I-NP +, , O +some DT B-NP +companies NNS I-NP +take VBP B-VP +steps NNS B-NP +to TO B-VP +ease VB I-VP +the DT B-NP +usual JJ I-NP +11th-hour JJ I-NP +crush NN I-NP +. . O + +Spiegel NNP B-NP +promises VBZ B-VP +a DT B-NP +`` `` I-NP +Guaranteed VBN I-NP +Christmas NNP I-NP +, , O +'' '' O +with IN B-PP +a DT B-NP +pledge NN I-NP +to TO B-VP +deliver VB I-VP +goods NNS B-NP +before IN B-PP +Christmas NNP B-NP +if IN B-SBAR +ordered VBN B-VP +by IN B-PP +Dec. NNP B-NP +20 CD I-NP +. . O + +And CC O +, , O +for IN B-PP +an DT B-NP +extra JJ I-NP +$ $ I-NP +6 CD I-NP +, , O +Land NNP B-NP +'s POS B-NP +End NN I-NP +will MD B-VP +deliver VB I-VP +orders NNS B-NP +within IN B-PP +two CD B-NP +days NNS I-NP +; : O +customers NNS B-NP +can MD B-VP +designate VB I-VP +the DT B-NP +day NN I-NP +. . O + +Spiegel NNP B-NP +, , O +which WDT B-NP +also RB B-ADVP +owns VBZ B-VP +Eddie NNP B-NP +Bauer NNP I-NP +and CC O +Honeybee NNP B-NP +, , O +says VBZ B-VP +that IN B-SBAR +since IN B-PP +1987 CD B-NP +, , O +sales NNS B-NP +have NN B-VP +doubled VBN I-VP +during IN B-PP +the DT B-NP +week NN I-NP +before IN B-PP +Christmas NNP B-NP +. . O + +An DT B-NP +L.L. NNP I-NP +Bean NNP I-NP +spokeswoman NN I-NP +notes NNS B-VP +: : O +`` `` O +People NNS B-NP +are VBP B-VP +just RB B-ADVP +used VBN B-ADJP +to TO B-PP +living VBG B-VP +in IN B-PP +a DT B-NP +last-minute JJ I-NP +society NN I-NP +. . O +'' '' O + +Blunt NNP B-NP +Ellis NNP I-NP +, , O +a DT B-NP +Milwaukee NNP I-NP +brokerage NN I-NP +firm NN I-NP +, , O +says VBZ B-VP +part NN B-NP +of IN B-PP +the DT B-NP +reason NN I-NP +catalog NN B-NP +sales NNS I-NP +grow VBP B-VP +in IN B-PP +popularity NN B-NP +is VBZ B-VP +because IN B-SBAR +consumers NNS B-NP +have VBP B-VP +more JJR B-NP +money NN I-NP +but CC O +less JJR B-NP +time NN I-NP +to TO B-VP +spend VB I-VP +it PRP B-NP +. . O + +L.L. NNP B-NP +Bean NNP I-NP +hires VBZ B-VP +about IN B-NP +2,700 CD I-NP +workers NNS I-NP +for IN B-PP +the DT B-NP +season NN I-NP +rush NN I-NP +, , O +about IN B-NP +300 CD I-NP +more JJR B-ADJP +than IN B-PP +last JJ B-NP +year NN I-NP +; : O +Land NNP B-NP +'s POS B-NP +End NN I-NP +hires VBZ B-VP +2,000 CD B-NP +. . O + +BRIEFS NNS B-NP +: : O + +Guarana NNP B-NP +Antarctica NNP I-NP +, , O +a DT B-NP +Brazilian JJ I-NP +soft JJ I-NP +drink NN I-NP +, , O +is VBZ B-VP +brought VBN I-VP +to TO B-PP +the DT B-NP +U.S. NNP I-NP +by IN B-PP +Amcap NNP B-NP +, , O +Chevy NNP B-NP +Chase NNP I-NP +, , O +Md NNP B-NP +. . O + +New NNP B-NP +Product NNP I-NP +News NNP I-NP +says VBZ B-VP +the DT B-NP +beverage NN I-NP +`` `` O +looks VBZ B-VP +like IN B-PP +ginger NN B-NP +ale NN I-NP +, , O +tastes VBZ B-VP +a DT B-NP +little JJ I-NP +like IN B-PP +cherries NNS B-NP +and CC O +smells VBZ B-VP +like IN B-PP +bubble NN B-NP +gum NN I-NP +. . O +'' '' O +... : O + +`` `` O +Amenities NNS B-NP +'' '' O +planned VBN B-VP +for IN B-PP +Chicago NNP B-NP +'s POS B-NP +new JJ I-NP +Parkshore NNP I-NP +Tower NNP I-NP +apartments NNS I-NP +include VBP B-VP +an DT B-NP +on-site JJ I-NP +investment NN I-NP +counselor NN I-NP +. . O + +Four CD B-NP +years NNS I-NP +ago RB B-ADVP +, , O +Pittsburgh NNP B-NP +was VBD B-VP +designated VBN I-VP +the DT B-NP +most-livable JJS I-NP +U.S. NNP I-NP +city NN I-NP +by IN B-PP +Rand NNP B-NP +McNally NNP I-NP +'s POS B-NP +Places NNS I-NP +Rated VBN I-NP +Almanac NNP I-NP +, , O +and CC O +the DT B-NP +honor NN I-NP +did VBD B-VP +wonders NNS B-NP +to TO B-VP +improve VB I-VP +Pittsburgh NNP B-NP +'s POS B-NP +soot-stained JJ I-NP +image NN I-NP +. . O + +`` `` O +People NNS B-NP +asked VBD B-VP +, , O +is VBZ O +it PRP B-NP +really RB B-ADVP +true JJ B-ADJP +? . O +'' '' O +says VBZ B-VP +Maury NNP B-NP +Kelley NNP I-NP +, , O +vice NN B-NP +president NN I-NP +, , O +marketing NN B-NP +services NNS I-NP +, , O +for IN B-PP +Beecham NNP B-NP +Products NNP I-NP +USA NNP I-NP +, , O +a DT B-NP +maker NN I-NP +of IN B-PP +health NN B-NP +and CC I-NP +personal-care JJ I-NP +products NNS I-NP +that WDT B-NP +used VBD B-VP +the DT B-NP +ranking NN I-NP +in IN B-PP +its PRP$ B-NP +recruiting NN I-NP +brochure NN I-NP +. . O + +Yuba NNP B-NP +City NNP I-NP +, , O +Calif. NNP B-NP +, , O +meanwhile RB B-ADVP +, , O +ranked VBD B-VP +dead JJ B-ADJP +last NN I-ADJP +among IN B-PP +329 CD B-NP +metro NN I-NP +areas NNS I-NP +. . O + +Unamused JJ B-ADJP +, , O +residents NNS B-NP +burned VBD B-VP +Rand NNP B-NP +McNally NNP I-NP +books NNS I-NP +and CC O +wore VBD B-VP +T-shirts NNS B-NP +that WDT B-NP +said VBD B-VP +: : O +`` `` O +Kiss VB B-VP +my PRP$ B-NP +Atlas NNP I-NP +. . O +'' '' O + +The DT B-NP +almanac NN I-NP +will MD B-VP +be VB I-VP +making VBG I-VP +new JJ B-NP +friends NNS I-NP +and CC I-NP +enemies NNS I-NP +on IN B-PP +Oct. NNP B-NP +27 CD I-NP +, , O +when WRB B-ADVP +an DT B-NP +updated VBN I-NP +version NN I-NP +will MD B-VP +be VB I-VP +released VBN I-VP +. . O + +Pittsburgh NNP B-NP +figures NNS B-VP +it PRP B-NP +will MD B-VP +be VB I-VP +dethroned VBN I-VP +but CC O +plans NNS B-VP +to TO I-VP +accept VB I-VP +its PRP$ B-NP +ouster NN I-NP +graciously RB B-ADVP +. . O + +The DT B-NP +city NN I-NP +'s POS B-NP +Office NNP I-NP +of IN B-PP +Promotion NNP B-NP +plans VBZ B-VP +media NNS B-NP +events NNS I-NP +to TO B-VP +welcome VB I-VP +its PRP$ B-NP +successor NN I-NP +. . O + +`` `` O +We PRP B-NP +'re VBP B-VP +encouraging VBG I-VP +a DT B-NP +graceful JJ I-NP +transition NN I-NP +, , O +'' '' O +says VBZ B-VP +Mary NNP B-NP +Kay NNP I-NP +Poppenberg NNP I-NP +, , O +the DT B-NP +organization NN I-NP +'s POS B-NP +president NN I-NP +. . O + +`` `` O +Our PRP$ B-NP +attitude NN I-NP +is VBZ B-VP +that IN O +-LRB- ( O +the DT B-NP +ranking JJ I-NP +-RRB- ) O +is VBZ B-VP +like IN B-PP +Miss NNP B-NP +America NNP I-NP +. . O + +Once RB O +you PRP B-NP +'re VBP B-VP +Miss NNP B-NP +America NNP I-NP +, , O +you PRP B-NP +'re VBP B-VP +always RB B-ADVP +Miss NNP B-NP +America NNP I-NP +. . O +'' '' O + +Tell VB B-VP +that IN B-NP +to TO B-PP +Atlanta NNP B-NP +, , O +which WDT B-NP +Pittsburgh NNP B-NP +replaced VBD B-VP +as IN B-PP +the DT B-NP +most-livable JJS I-NP +city NN I-NP +in IN B-PP +1985 CD B-NP +. . O + +Many JJ B-NP +Atlantans NNPS I-NP +thought VBD B-VP +Pittsburgh NNP B-NP +was VBD B-VP +an DT B-NP +unworthy JJ I-NP +heir NN I-NP +. . O + +A DT B-NP +columnist NN I-NP +in IN B-PP +the DT B-NP +Atlanta NNP I-NP +Journal NNP I-NP +and CC I-NP +Constitution NNP I-NP +wrote VBD B-VP +: : O +`` `` O +Who WP B-NP +did VBD B-VP +the DT B-NP +research NN I-NP +for IN B-PP +this DT B-NP +report NN I-NP +? . O + +Two CD B-NP +guys NNS I-NP +from IN B-PP +Gary NNP B-NP +, , O +Ind. NNP B-NP +? . O +'' '' O + +Not RB O +so RB B-ADJP +. . O + +Co-authors NNS B-NP +David NNP I-NP +Savageau NNP I-NP +and CC I-NP +Richard NNP I-NP +Boyer NNP I-NP +, , O +live VB B-VP +in IN B-PP +Gloucester NNP B-NP +, , O +Mass. NNP B-NP +, , O +and CC O +Asheville NNP B-NP +, , O +N.C. NNP B-NP +, , O +respectively RB B-ADVP +. . O + +`` `` O +Atlanta NNP B-NP +, , O +'' '' O +Mr. NNP B-NP +Savageau NNP I-NP +sniffs VBZ B-VP +, , O +`` `` O +has VBZ B-VP +unrealistic JJ B-NP +pretensions NNS I-NP +to TO B-PP +world-class JJ B-NP +status NN I-NP +. . O +'' '' O + +The DT B-NP +new JJ I-NP +edition NN I-NP +lists VBZ B-VP +the DT B-NP +top JJ I-NP +10 CD I-NP +metropolitan JJ I-NP +areas NNS I-NP +as IN B-PP +Anaheim-Santa NNP B-NP +Ana NNP I-NP +, , O +Calif. NNP B-NP +; : O +Boston NNP B-NP +; : O +Louisville NNP B-NP +, , O +Ky. NNP B-NP +; : O +Nassau-Suffolk NNP B-NP +, , O +N.Y. NNP B-NP +; : O +New NNP B-NP +York NNP I-NP +; : O +Pittsburgh NNP B-NP +; : O +San NNP B-NP +Diego NNP I-NP +; : O +San NNP B-NP +Francisco NNP I-NP +; : O +Seattle NNP B-NP +; : O +and CC O +Washington NNP B-NP +. . O + +Mr. NNP B-NP +Savageau NNP I-NP +says VBZ B-VP +earthquake NN B-NP +or CC O +not RB O +, , O +San NNP B-NP +Francisco NNP I-NP +makes VBZ B-VP +the DT B-NP +list NN I-NP +. . O + +But CC O +attention NN B-NP +also RB B-ADVP +rivets VBZ B-VP +on IN B-PP +who WP B-NP +finishes VBZ B-VP +last JJ B-ADVP +, , O +and CC O +Pine NNP B-NP +Bluff NNP I-NP +, , O +Ark. NNP B-NP +-- : O +which WDT B-NP +finished VBD B-VP +third JJ B-ADVP +to TO I-ADVP +last VB I-ADVP +in IN B-PP +1981 CD B-NP +and CC O +second JJ B-ADVP +to TO I-ADVP +last VB I-ADVP +in IN B-PP +1985 CD B-NP +-- : O +is VBZ B-VP +certainly RB B-ADVP +in IN B-PP +the DT B-NP +running NN I-NP +. . O + +`` `` O +I PRP B-NP +hate VBP B-VP +to TO I-VP +dignify VB I-VP +the DT B-NP +publication NN I-NP +by IN B-PP +commenting VBG B-VP +on IN B-PP +the DT B-NP +obscene JJ I-NP +rating NN I-NP +, , O +'' '' O +Mayor NNP B-NP +Carolyn NNP I-NP +Robinson NNP I-NP +says VBZ B-VP +, , O +adding VBG B-VP +that IN B-SBAR +cities NNS B-NP +have VBP B-VP +no DT B-NP +way NN I-NP +to TO B-VP +rebut VB I-VP +the DT B-NP +book NN I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +like IN B-PP +fighting VBG B-VP +your PRP$ B-NP +way NN I-NP +out IN B-ADVP +of IN B-PP +a DT B-NP +fog NN I-NP +. . O + +You PRP B-NP +do VBP B-VP +n't RB I-VP +know VB I-VP +which WDT B-ADVP +way NN O +to TO B-VP +punch VB I-VP +. . O + +Northrop NNP B-NP +Corp. NNP I-NP +'s POS B-NP +third-quarter JJ I-NP +net JJ I-NP +income NN I-NP +fell VBD B-VP +25 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +21.5 CD I-NP +million CD I-NP +, , O +or CC O +46 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +while IN B-SBAR +General NNP B-NP +Dynamics NNP I-NP +Corp. NNP I-NP +reported VBD B-VP +nearly RB B-NP +flat JJ I-NP +earnings NNS I-NP +of IN B-PP +$ $ B-NP +76.5 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.83 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Los NNP B-NP +Angeles-based JJ I-NP +Northrop NNP I-NP +recorded VBD B-VP +an DT B-NP +8.2 CD I-NP +% NN I-NP +decline NN I-NP +in IN B-PP +sales NNS B-NP +as IN B-SBAR +B-2 NNP B-NP +Stealth NNP I-NP +bomber NN I-NP +research-and-development NN I-NP +revenue NN I-NP +continued VBD B-VP +to TO I-VP +ebb VB I-VP +and CC O +high JJ B-NP +costs NNS I-NP +on IN B-PP +some DT B-NP +other JJ I-NP +programs NNS I-NP +cut VBP B-VP +into IN B-PP +profit NN B-NP +. . O + +The DT B-NP +aerospace NN I-NP +concern NN I-NP +earned VBD B-VP +$ $ B-NP +28.8 CD I-NP +million CD I-NP +, , O +or CC O +61 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Sales NNS B-NP +in IN B-PP +the DT B-NP +latest JJS I-NP +period NN I-NP +were VBD B-VP +$ $ B-NP +1.25 CD I-NP +billion CD I-NP +, , O +down RB B-ADVP +from IN B-PP +$ $ B-NP +1.36 CD I-NP +billion CD I-NP +in IN B-PP +the DT B-NP +1988 CD I-NP +quarter NN I-NP +. . O + +At IN B-PP +St. NNP B-NP +Louis-based JJ I-NP +General NNP I-NP +Dynamics NNP I-NP +, , O +sales NNS B-NP +rose VBD B-VP +10 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +2.52 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +2.29 CD I-NP +billion CD I-NP +. . O + +It PRP B-NP +earned VBD B-VP +$ $ B-NP +76.4 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.82 CD I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +the DT B-NP +1988 CD I-NP +quarter NN I-NP +. . O + +General NNP B-NP +Dynamics NNP I-NP +credited VBD B-VP +significant JJ B-NP +earnings NNS I-NP +gains NNS I-NP +in IN B-PP +its PRP$ B-NP +general JJ I-NP +aviation NN I-NP +and CC I-NP +material NN I-NP +service NN I-NP +segments NNS I-NP +, , O +an DT B-NP +earnings NNS I-NP +recovery NN I-NP +in IN B-PP +submarine NN B-NP +operations NNS I-NP +, , O +and CC O +higher JJR B-NP +military JJ I-NP +aircraft NN I-NP +sales NNS I-NP +. . O + +Northrop NNP B-NP +said VBD B-VP +sales NNS B-NP +fell VBD B-VP +because IN B-PP +of IN I-PP +the DT B-NP +decline NN I-NP +in IN B-PP +B-2 NNP B-NP +development NN I-NP +dollars NNS I-NP +from IN B-PP +the DT B-NP +government NN I-NP +as IN B-SBAR +the DT B-NP +plane NN I-NP +continues VBZ B-VP +its PRP$ B-NP +initial JJ I-NP +production NN I-NP +stage NN I-NP +and CC O +because IN B-SBAR +fewer JJR B-NP +F\/A-18 NNP I-NP +fighter NN I-NP +sections NNS I-NP +are VBP B-VP +being VBG I-VP +produced VBN I-VP +in IN B-PP +its PRP$ B-NP +subcontract NN I-NP +work NN I-NP +with IN B-PP +prime JJ B-NP +contractor NN I-NP +McDonnell NNP I-NP +Douglas NNP I-NP +Corp NNP I-NP +. . O + +In IN B-PP +composite JJ B-NP +trading NN I-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +, , O +Northrop NNP B-NP +shares NNS I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +21.125 CD I-NP +, , O +off IN B-ADVP +25 CD B-NP +cents NNS I-NP +. . O + +General NNP B-NP +Dynamics NNP I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +54.875 CD I-NP +, , O +up IN B-ADVP +50 CD B-NP +cents NNS I-NP +. . O + +Northrop NNP B-NP +, , O +which WDT B-NP +since IN B-PP +early JJ B-NP +1988 CD I-NP +has VBZ B-VP +declined VBN I-VP +to TO I-VP +accept VB I-VP +fixed-price JJ B-NP +contracts NNS I-NP +for IN B-PP +research NN B-NP +and CC I-NP +development NN I-NP +, , O +said VBD B-VP +earnings NNS B-NP +were VBD B-VP +hurt VBN I-VP +by IN B-PP +excessive JJ B-NP +costs NNS I-NP +on IN B-PP +a DT B-NP +number NN I-NP +of IN B-PP +such JJ B-NP +contracts NNS I-NP +won VBD B-VP +years NNS B-NP +ago RB B-ADVP +. . O + +Among IN B-PP +them PRP B-NP +were VBD B-VP +the DT B-NP +ALQ-135 NN I-NP +electronic JJ I-NP +countermeasures NNS I-NP +system NN I-NP +for IN B-PP +the DT B-NP +F-15 NNP I-NP +fighter NN I-NP +. . O + +Northrop NNP B-NP +'s POS B-NP +interest NN I-NP +expense NN I-NP +also RB B-ADVP +soared VBD B-VP +to TO B-PP +$ $ B-NP +35 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +17 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +It PRP B-NP +said VBD B-VP +debt NN B-NP +remained VBD B-VP +at IN B-PP +the DT B-NP +$ $ I-NP +1.22 CD I-NP +billion CD I-NP +that WDT B-NP +has VBZ B-VP +prevailed VBN I-VP +since IN B-PP +early JJ B-NP +1989 CD I-NP +, , O +although IN B-SBAR +that DT B-NP +compared VBD B-VP +with IN B-PP +$ $ B-NP +911 CD I-NP +million CD I-NP +at IN B-PP +Sept. NNP B-NP +30 CD I-NP +, , O +1988 CD B-NP +. . O + +The DT B-NP +backlog NN I-NP +of IN B-PP +undelivered JJ B-NP +orders NNS I-NP +at IN B-PP +Northrop NNP B-NP +on IN B-PP +Sept. NNP B-NP +30 CD I-NP +was VBD B-VP +$ $ B-NP +4.68 CD I-NP +billion CD I-NP +, , O +down RB B-ADVP +from IN B-PP +$ $ B-NP +5.16 CD I-NP +billion CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +Northrop NNP B-NP +reported VBD B-VP +a DT B-NP +net JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +46.9 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1 CD I-NP +a DT B-NP +share NN I-NP +, , O +compared VBN B-PP +with IN B-PP +profit NN B-NP +of IN B-PP +$ $ B-NP +190.3 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +4.05 CD I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +1988 CD B-NP +. . O + +Sales NNS B-NP +dipped VBD B-VP +3.6 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +3.92 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +4.07 CD I-NP +billion CD I-NP +. . O + +At IN B-PP +General NNP B-NP +Dynamics NNP I-NP +, , O +factors NNS B-NP +reducing VBG B-VP +earnings NNS B-NP +in IN B-PP +the DT B-NP +military JJ I-NP +aircraft NN I-NP +segment NN I-NP +included VBD B-VP +higher JJR B-NP +levels NNS I-NP +of IN B-PP +cost-sharing NN B-NP +in IN B-PP +development NN B-NP +of IN B-PP +the DT B-NP +Advanced NNP I-NP +Tactical NNP I-NP +Fighter NNP I-NP +, , O +and CC O +the DT B-NP +high JJ I-NP +cost NN I-NP +of IN B-PP +an DT B-NP +advanced VBN I-NP +version NN I-NP +of IN B-PP +the DT B-NP +F-16 NNP I-NP +fighter NN I-NP +. . O + +F-16 NN B-NP +deliveries NNS I-NP +also RB B-ADVP +have VBP B-VP +fallen VBN I-VP +`` `` O +slightly RB B-ADVP +behind IN B-PP +schedule NN B-NP +, , O +'' '' O +although IN B-SBAR +a DT B-NP +return NN I-NP +to TO B-PP +the DT B-NP +previous JJ I-NP +schedule NN I-NP +is VBZ B-VP +expected VBN I-VP +in IN B-PP +1990 CD B-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +. . O + +Backlog NN B-NP +at IN B-PP +General NNP B-NP +Dynamics NNP I-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +16.5 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +15.8 CD I-NP +billion CD I-NP +. . O + +Its PRP$ B-NP +interest NN I-NP +expense NN I-NP +surged VBD B-VP +to TO B-PP +$ $ B-NP +21.5 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +12.4 CD I-NP +million CD I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +General NNP B-NP +Dynamics NNP I-NP +earned VBD B-VP +$ $ B-NP +210.3 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +5.03 CD I-NP +a DT B-NP +share NN I-NP +, , O +up IN B-ADVP +marginally RB B-ADVP +from IN B-PP +$ $ B-NP +208.8 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +4.97 CD I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +a DT B-NP +4.9 CD I-NP +% NN I-NP +rise NN I-NP +in IN B-PP +sales NNS B-NP +to TO B-PP +$ $ B-NP +7.41 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +7.06 CD I-NP +billion CD I-NP +. . O + +Lotus NNP B-NP +Development NNP I-NP +Corp. NNP I-NP +reported VBD B-VP +a DT B-NP +surprisingly RB I-NP +strong JJ I-NP +51 CD I-NP +% NN I-NP +increase NN I-NP +in IN B-PP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +on IN B-PP +a DT B-NP +32 CD I-NP +% NN I-NP +sales NNS I-NP +gain NN I-NP +, , O +buoyed VBN B-VP +by IN B-PP +strong JJ B-NP +demand NN I-NP +for IN B-PP +a DT B-NP +new JJ I-NP +version NN I-NP +of IN B-PP +its PRP$ B-NP +1-2-3 JJ I-NP +computer NN I-NP +spreadsheet NN I-NP +. . O + +The DT B-NP +results NNS I-NP +topped VBD B-VP +analysts NNS B-NP +' POS B-NP +expectations NNS I-NP +and CC O +the DT B-NP +earnings NNS I-NP +growth NN I-NP +of IN B-PP +competitors NNS B-NP +, , O +prompting VBG B-VP +traders NNS B-NP +to TO B-VP +all DT I-VP +but CC I-VP +forget VB I-VP +the DT B-NP +product-launch NN I-NP +delays NNS I-NP +that WDT B-NP +bogged VBD B-VP +down RP B-PRT +the DT B-NP +company NN I-NP +for IN B-PP +much NN B-NP +of IN B-PP +the DT B-NP +past JJ I-NP +two CD I-NP +years NNS I-NP +. . O + +Yesterday NN B-NP +, , O +in IN B-PP +heavy JJ B-NP +, , I-NP +national JJ I-NP +over-the-counter JJ I-NP +trading NN I-NP +, , O +Lotus NNP B-NP +shares NNS I-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +32.50 CD I-NP +, , O +up IN B-ADVP +$ $ B-NP +1.25 CD I-NP +apiece RB B-ADVP +, , O +capping VBG B-VP +a DT B-NP +threemonth JJ I-NP +run-up NN I-NP +of IN B-PP +more JJR B-NP +than IN I-NP +40 CD I-NP +% NN I-NP +. . O + +Lotus NNP B-NP +said VBD B-VP +net NN B-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +23 CD I-NP +million CD I-NP +, , O +or CC O +54 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +sales NNS B-NP +of IN B-PP +$ $ B-NP +153.9 CD I-NP +million CD I-NP +. . O + +A DT B-NP +year NN I-NP +ago RB B-ADVP +, , O +net NN B-NP +was VBD B-VP +$ $ B-NP +14.3 CD I-NP +million CD I-NP +, , O +or CC O +31 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +sales NNS B-NP +of IN B-PP +$ $ B-NP +116.8 CD I-NP +million CD I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +net NN B-NP +of IN B-PP +$ $ B-NP +38.5 CD I-NP +million CD I-NP +, , O +or CC O +92 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +trailed VBD B-VP +the DT B-NP +year NN I-NP +earlier RBR I-NP +'s POS B-NP +$ $ I-NP +49.9 CD I-NP +million CD I-NP +, , I-NP +or CC I-NP +$ $ I-NP +1.08 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Sales NNS B-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +406 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +356 CD I-NP +million CD I-NP +the DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +In IN B-PP +the DT B-NP +first JJ I-NP +half NN I-NP +, , O +Lotus NNP B-NP +struggled VBD B-VP +to TO I-VP +keep VB I-VP +market NN B-NP +share NN I-NP +with IN B-PP +costly JJ B-NP +promotions NNS I-NP +while IN B-SBAR +customers NNS B-NP +awaited VBD B-VP +the DT B-NP +launch NN I-NP +of IN B-PP +1-2-3 NNP B-NP +Release NNP I-NP +3 CD I-NP +, , O +the DT B-NP +upgraded VBN I-NP +spreadsheet NN I-NP +software NN I-NP +. . O + +Lotus NNP B-NP +'s POS B-NP +results NNS I-NP +were VBD B-VP +about IN B-NP +10 CD I-NP +% NN I-NP +higher JJR B-ADJP +than IN B-PP +analysts NNS B-NP +' POS B-NP +average JJ I-NP +expectations NNS I-NP +and CC O +compared VBN B-VP +favorably RB B-ADVP +with IN B-PP +the DT B-NP +36 CD I-NP +% NN I-NP +earnings NNS I-NP +rise NN I-NP +reported VBD B-VP +a DT B-NP +day NN I-NP +earlier RBR B-ADVP +by IN B-PP +rival JJ B-NP +Microsoft NNP I-NP +Corp. NNP I-NP +of IN B-PP +Redmond NNP B-NP +, , O +Wash NNP B-NP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +results NNS B-NP +were VBD B-VP +bolstered VBN I-VP +by IN B-PP +upgrades NNS B-NP +to TO B-PP +Release NNP B-NP +3 CD I-NP +by IN B-PP +previous JJ B-NP +customers NNS I-NP +and CC O +improved VBN B-NP +profit NN I-NP +margins NNS I-NP +, , O +the DT B-NP +result NN I-NP +of IN B-PP +manufacturing-cost NN B-NP +controls NNS I-NP +. . O + +Rick NNP B-NP +Sherlund NNP I-NP +, , O +a DT B-NP +Goldman NNP I-NP +Sachs NNP I-NP +analyst NN I-NP +, , O +said VBD B-VP +Lotus NNP B-NP +had VBD B-VP +upgrade VB B-NP +revenue NN I-NP +of IN B-PP +about RB B-NP +$ $ I-NP +22 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +quarter NN I-NP +, , O +twice RB B-ADVP +what WP B-NP +he PRP B-NP +had VBD B-VP +expected VBN I-VP +. . O + +Also RB B-ADVP +, , O +he PRP B-NP +estimated VBD B-VP +unit NN B-NP +shipments NNS I-NP +of IN B-PP +1-2-3 JJ B-NP +in IN B-PP +all DT B-NP +its PRP$ I-NP +forms NNS I-NP +were VBD B-VP +about IN B-NP +315,000 CD I-NP +, , O +up IN B-ADVP +7 CD B-NP +% NN I-NP +from IN B-PP +1988 CD B-NP +'s POS B-NP +quarterly JJ I-NP +average NN I-NP +. . O + +Demand NN B-NP +for IN B-PP +the DT B-NP +new JJ I-NP +version NN I-NP +was VBD B-VP +enabling VBG I-VP +Lotus NNP B-NP +to TO B-VP +raise VB I-VP +prices NNS B-NP +with IN B-PP +distributors NNS B-NP +and CC O +to TO B-VP +hold VB I-VP +market NN B-NP +share NN I-NP +against IN B-PP +Microsoft NNP B-NP +and CC O +other JJ B-NP +competitors NNS I-NP +that WDT B-NP +tried VBD B-VP +to TO I-VP +exploit VB I-VP +the DT B-NP +earlier JJR I-NP +delays NNS I-NP +in IN B-PP +Release NNP B-NP +3 CD I-NP +'s POS B-NP +launch NN I-NP +, , O +Mr. NNP B-NP +Sherlund NNP I-NP +added VBD B-VP +. . O + +He PRP B-NP +estimated VBD B-VP +that IN B-SBAR +1-2-3 NN B-NP +outsold VBD B-VP +Microsoft NNP B-NP +'s POS B-NP +Excel NNP I-NP +spreadsheet NN I-NP +by IN B-PP +four-to-one RB B-ADVP +in IN B-PP +the DT B-NP +quarter NN I-NP +, , O +and CC O +held VBD B-VP +a DT B-NP +70 CD I-NP +% NN I-NP +or CC I-NP +better JJR I-NP +share NN I-NP +of IN B-PP +the DT B-NP +spreadsheet NN I-NP +market NN I-NP +. . O + +Silicon NNP B-NP +Valley NNP I-NP +heaved VBD B-VP +a DT B-NP +sigh NN I-NP +of IN B-PP +relief NN B-NP +yesterday NN B-NP +. . O + +Though IN B-SBAR +details NNS B-NP +were VBD B-VP +sketchy JJ B-ADJP +in IN B-PP +the DT B-NP +aftermath NN I-NP +of IN B-PP +the DT B-NP +violent JJ I-NP +earthquake NN I-NP +that WDT B-NP +shook VBD B-VP +the DT B-NP +high-tech JJ I-NP +corridor NN I-NP +along IN B-PP +with IN B-PP +the DT B-NP +rest NN I-NP +of IN B-PP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +Bay NNP I-NP +area NN I-NP +, , O +a DT B-NP +spot NN I-NP +check NN I-NP +of IN B-PP +computer NN B-NP +makers NNS I-NP +turned VBD B-VP +up IN B-PRT +little JJ O +, , O +if IN B-SBAR +any DT B-NP +, , O +potentially RB B-NP +lingering VBG I-NP +damage NN I-NP +to TO B-PP +facilities NNS B-NP +or CC O +fabrication NN B-NP +equipment NN I-NP +. . O + +Analysts NNS B-NP +and CC O +corporate JJ B-NP +officials NNS I-NP +said VBD B-VP +they PRP B-NP +expected VBD B-VP +practically RB B-NP +no DT I-NP +long-term JJ I-NP +disruption NN I-NP +in IN B-PP +shipments NNS B-NP +from IN B-PP +the DT B-NP +Valley NNP I-NP +of IN B-PP +either DT B-NP +hardware NN I-NP +or CC I-NP +software NN I-NP +goods NNS I-NP +. . O + +Intel NNP B-NP +Corp. NNP I-NP +, , O +Advanced NNP B-NP +Micro NNP I-NP +Devices NNP I-NP +Inc. NNP I-NP +and CC O +National NNP B-NP +Semiconductor NNP I-NP +Corp. NNP I-NP +were VBD B-VP +all DT O +up IN B-ADJP +and CC O +running VBG B-VP +yesterday NN B-NP +, , O +though IN B-SBAR +many JJ B-NP +workers NNS I-NP +were VBD B-VP +forced VBN I-VP +to TO I-VP +stay VB I-VP +home NN B-NP +because IN B-PP +of IN I-PP +damaged VBN B-NP +roadways NNS I-NP +; : O +others NNS B-NP +elected VBN B-VP +to TO I-VP +take VB I-VP +the DT B-NP +day NN I-NP +off RB B-PRT +. . O + +`` `` O +These DT B-NP +systems NNS I-NP +are VBP B-VP +more RBR B-ADJP +rugged JJ I-ADJP +than IN B-SBAR +many JJ B-NP +people NNS I-NP +would MD B-VP +believe VB I-VP +, , O +'' '' O +said VBD B-VP +Thomas NNP B-NP +Kurlak NNP I-NP +, , O +who WP B-NP +tracks VBZ B-VP +the DT B-NP +computer NN I-NP +industry NN I-NP +for IN B-PP +Merrill NNP B-NP +Lynch NNP I-NP +Research NNP I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +not RB O +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +world NN I-NP +if IN B-SBAR +you PRP B-NP +shake VBP B-VP +them PRP B-NP +up IN B-PRT +a DT B-NP +little JJ I-NP +bit NN I-NP +. . O +'' '' O + +Other JJ B-NP +companies NNS I-NP +, , O +including VBG B-PP +International NNP B-NP +Business NNP I-NP +Machines NNP I-NP +Corp. NNP I-NP +and CC O +Hewlett-Packard NNP B-NP +Co. NNP I-NP +, , O +completely RB B-VP +idled VBN I-VP +their PRP$ B-NP +operations NNS I-NP +because IN B-PP +of IN I-PP +Tuesday NNP B-NP +evening NN I-NP +'s POS B-NP +temblor NN I-NP +, , O +which WDT B-NP +registered VBD B-VP +6.9 CD B-NP +on IN B-PP +the DT B-NP +Richter NNP I-NP +scale NN I-NP +. . O + +Personnel NNP B-NP +spent VBD B-VP +the DT B-NP +morning NN I-NP +inspecting VBG B-VP +buildings NNS B-NP +for IN B-PP +structural JJ B-NP +weaknesses NNS I-NP +, , O +mopping VBG B-VP +up IN B-PRT +water NN B-NP +from IN B-PP +broken VBN B-NP +pipes NNS I-NP +and CC O +clearing VBG B-VP +ceiling NN B-NP +tiles NNS I-NP +and CC O +other JJ B-NP +debris NN I-NP +from IN B-PP +factory NN B-NP +floors NNS I-NP +. . O + +Still RB B-ADVP +, , O +many NN B-NP +were VBD B-VP +confident JJ B-ADJP +that IN B-SBAR +`` `` O +in IN B-PP +a DT B-NP +day NN I-NP +or CC I-NP +two CD I-NP +, , O +everything NN B-NP +should MD B-VP +be VB I-VP +back RB B-ADVP +to TO B-PP +normal JJ B-ADJP +, , O +'' '' O +according VBG B-PP +to TO B-PP +a DT B-NP +spokeswoman NN I-NP +for IN B-PP +the DT B-NP +Semiconductor NNP I-NP +Industry NNP I-NP +Association NNP I-NP +, , O +based VBN B-VP +in IN B-PP +Cupertino NNP B-NP +. . O + +IBM NNP B-NP +, , O +for IN B-PP +instance NN B-NP +, , O +said VBD B-VP +it PRP B-NP +anticipates VBZ B-VP +returning VBG I-VP +to TO B-PP +a DT B-NP +normal JJ I-NP +work NN I-NP +schedule NN I-NP +by IN B-PP +the DT B-NP +weekend NN I-NP +at IN B-PP +its PRP$ B-NP +San NNP I-NP +Jose NNP I-NP +plant NN I-NP +, , O +which WDT B-NP +puts VBZ B-VP +out RP B-PRT +disk NN B-NP +drives NNS I-NP +for IN B-PP +the DT B-NP +3090 CD I-NP +family NN I-NP +of IN B-PP +mainframes NNS B-NP +. . O + +A DT B-NP +Hewlett-Packard NNP I-NP +spokeswoman NN I-NP +said VBD B-VP +that IN B-SBAR +, , O +while IN B-SBAR +`` `` O +things NNS B-NP +are VBP B-VP +a DT B-NP +big JJ I-NP +mess NN I-NP +, , O +'' '' O +some DT B-NP +18,000 CD I-NP +Valley NNP I-NP +employees NNS I-NP +have VBP B-VP +been VBN I-VP +called VBN I-VP +back RB B-ADVP +to TO B-PP +work VB B-NP +today NN B-NP +. . O + +Apple NNP B-NP +Computer NNP I-NP +added VBD B-VP +that IN B-SBAR +it PRP B-NP +was VBD B-VP +being VBG I-VP +`` `` O +cautiously RB B-ADJP +optimistic JJ I-ADJP +, , O +'' '' O +despite IN B-PP +not RB B-ADVP +yet RB I-ADVP +closely RB B-VP +eyeballing VBG I-VP +all DT B-NP +of IN B-PP +its PRP$ B-NP +50 CD I-NP +buildings NNS I-NP +in IN B-PP +the DT B-NP +region NN I-NP +. . O + +Even RB B-NP +the DT I-NP +carefully RB I-NP +calibrated VBN I-NP +machinery NN I-NP +in IN B-PP +its PRP$ B-NP +giant NN I-NP +Fremont NNP I-NP +plant NN I-NP +, , O +to TO B-PP +the DT B-NP +north RB I-NP +of IN B-PP +the DT B-NP +Valley NNP I-NP +, , O +was VBD B-VP +believed VBN I-VP +to TO I-VP +be VB I-VP +undamaged JJ B-ADJP +. . O + +Sun NNP B-NP +Microsystems NNP I-NP +Inc. NNP I-NP +and CC O +Tandem NNP B-NP +Computers NNP I-NP +Inc. NNP I-NP +also RB B-ADVP +signaled VBD B-VP +that IN B-SBAR +they PRP B-NP +should MD B-VP +recover VB I-VP +quickly RB B-ADVP +. . O + +Digital NNP B-NP +Equipment NNP I-NP +Corp. NNP I-NP +, , O +with IN B-PP +major JJ B-NP +facilities NNS I-NP +in IN B-PP +Santa NNP B-NP +Clara NNP I-NP +, , O +Cupertino NNP B-NP +, , O +Palo NNP B-NP +Alto NNP I-NP +and CC O +Mountain NNP B-NP +View NNP I-NP +, , O +said VBD B-VP +that IN B-SBAR +all DT B-NP +of IN B-PP +its PRP$ B-NP +engineering NN I-NP +and CC I-NP +manufacturing NN I-NP +sites NNS I-NP +had VBD B-VP +reported VBN I-VP +to TO B-PP +corporate JJ B-NP +headquarters NN I-NP +in IN B-PP +Maynard NNP B-NP +, , O +Mass. NNP B-NP +, , O +Tuesday NNP B-NP +night NN I-NP +. . O + +None NN B-NP +sustained VBN B-VP +`` `` B-NP +significant JJ I-NP +'' '' I-NP +damage NN I-NP +, , O +a DT B-NP +spokesman NN I-NP +said VBD B-VP +, , O +adding VBG B-VP +that IN B-SBAR +`` `` O +the DT B-NP +delicate JJ I-NP +manufacturing NN I-NP +process NN I-NP +machines NNS I-NP +were VBD B-VP +checked VBN I-VP +and CC O +were VBD B-VP +all DT O +found VBD B-VP +to TO I-VP +be VB I-VP +operating VBG I-VP +normally RB B-ADVP +. . O +'' '' O + +For IN B-PP +many JJ B-NP +companies NNS I-NP +, , O +of IN B-PP +course NN B-NP +, , O +there EX B-NP +is VBZ B-VP +still RB B-ADVP +a DT B-NP +slew NN I-NP +of IN B-PP +nagging JJ B-NP +problems NNS I-NP +to TO B-VP +grapple VB I-VP +with IN B-PP +, , O +some DT B-NP +of IN B-PP +which WDT B-NP +have VBP B-VP +the DT B-NP +potential JJ I-NP +to TO B-VP +become VB I-VP +quite RB B-ADJP +serious JJ I-ADJP +. . O + +For IN B-PP +example NN B-NP +, , O +a DT B-NP +spokesman NN I-NP +for IN B-PP +Advanced NNP B-NP +Micro NNP I-NP +Devices NNPS I-NP +said VBD B-VP +the DT B-NP +Sunnyvale NNP I-NP +chip NN I-NP +maker NN I-NP +is VBZ B-VP +worried VBN B-ADJP +about IN B-PP +blackouts NNS B-NP +. . O + +A DT B-NP +sudden JJ I-NP +surge NN I-NP +or CC I-NP +drop NN I-NP +in IN B-PP +electric JJ B-NP +power NN I-NP +could MD B-VP +ruin VB I-VP +integrated VBN B-NP +circuits NNS I-NP +being VBG B-VP +built VBN I-VP +. . O + +But CC O +, , O +given VBN B-PP +what WP B-NP +might MD B-VP +have VB I-VP +happened VBN I-VP +to TO B-PP +the DT B-NP +fragile JJ I-NP +parts NNS I-NP +that WDT B-NP +are VBP B-VP +at IN B-PP +the DT B-NP +heart NN I-NP +of IN B-PP +the DT B-NP +microelectronics NNS I-NP +business NN I-NP +, , O +the DT B-NP +bulk NN I-NP +of IN B-PP +Valley NNP B-NP +companies NNS I-NP +seemed VBD B-VP +to TO I-VP +be VB I-VP +just RB I-VP +about IN I-VP +shouting VBG I-VP +hosannas NNS B-NP +. . O + +Several JJ B-NP +factors NNS I-NP +apparently RB B-ADVP +spared VBN B-VP +the DT B-NP +Valley NNP I-NP +-- : O +a DT B-NP +sprawling VBG I-NP +suburban JJ I-NP +stretch NN I-NP +from IN B-PP +San NNP B-NP +Jose NNP I-NP +to TO B-PP +Palo NNP B-NP +Alto NNP I-NP +-- : O +from IN B-PP +the DT B-NP +kind NN I-NP +of IN B-PP +impact NN B-NP +felt VBD B-VP +in IN B-PP +San NNP B-NP +Francisco NNP I-NP +, , O +an DT B-NP +hour NN I-NP +'s POS B-NP +drive NN I-NP +north RB I-NP +. . O + +For IN B-PP +one CD B-NP +thing NN I-NP +, , O +buildings NNS B-NP +there EX B-ADVP +tend VBP B-VP +to TO I-VP +be VB I-VP +newer JJR B-ADJP +and CC O +, , O +thus RB B-ADVP +, , O +in IN B-PP +step NN B-NP +with IN B-PP +the DT B-NP +latest JJS I-NP +safety NN I-NP +codes NNS I-NP +. . O + +Also RB B-ADVP +, , O +the DT B-NP +soil NN I-NP +in IN B-PP +the DT B-NP +Valley NNP I-NP +is VBZ B-VP +solid JJ B-ADJP +, , O +unlike IN B-PP +the DT B-NP +landfill NN I-NP +of IN B-PP +San NNP B-NP +Francisco NNP I-NP +'s POS B-NP +downtown NN I-NP +Marina NNP I-NP +District NNP I-NP +, , O +which WDT B-NP +was VBD B-VP +hit VBN I-VP +with IN B-PP +fires NNS B-NP +and CC O +vast JJ B-NP +destruction NN I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +some DT B-NP +microelectronics NNS I-NP +companies NNS I-NP +said VBD B-VP +they PRP B-NP +were VBD B-VP +prepared VBN B-ADJP +for IN B-PP +tremulous JJ B-NP +conditions NNS I-NP +like IN B-PP +Tuesday NNP B-NP +'s POS B-NP +. . O + +Their PRP$ B-NP +machine NN I-NP +tools NNS I-NP +are VBP B-VP +even RB I-VP +bolted VBN I-VP +to TO B-PP +the DT B-NP +shop NN I-NP +floor NN I-NP +. . O + +Intel NNP B-NP +said VBD B-VP +that IN B-SBAR +over IN B-PP +the DT B-NP +past JJ I-NP +decade NN I-NP +, , O +it PRP B-NP +has VBZ B-VP +installed VBN I-VP +computer NN B-NP +sensors NNS I-NP +and CC O +shutoff NN B-NP +valves NNS I-NP +, , O +sensitive JJ B-ADJP +to TO B-PP +the DT B-NP +shake NN I-NP +of IN B-PP +an DT B-NP +earthquake NN I-NP +, , O +in IN B-PP +the DT B-NP +pipes NNS I-NP +that WDT B-NP +snake NN B-VP +through IN B-PP +its PRP$ B-NP +plants NNS I-NP +. . O + +Like IN B-PP +other JJ B-NP +large JJ I-NP +Valley NNP I-NP +companies NNS I-NP +, , O +Intel NNP B-NP +also RB B-ADVP +noted VBD B-VP +that IN B-SBAR +it PRP B-NP +has VBZ B-VP +factories NNS B-NP +in IN B-PP +several JJ B-NP +parts NNS I-NP +of IN B-PP +the DT B-NP +nation NN I-NP +, , O +so RB B-SBAR +that IN I-SBAR +a DT B-NP +breakdown NN I-NP +at IN B-PP +one CD B-NP +location NN I-NP +should MD B-VP +n't RB I-VP +leave VB I-VP +customers NNS B-NP +in IN B-PP +a DT B-NP +total JJ I-NP +pinch NN I-NP +. . O + +That DT B-NP +'s VBZ B-VP +certainly RB B-ADVP +good JJ B-NP +news NN I-NP +for IN B-PP +such JJ B-NP +companies NNS I-NP +as IN B-PP +Compaq NNP B-NP +Computer NNP I-NP +Corp. NNP I-NP +, , O +Houston NNP B-NP +, , O +which WDT B-NP +has VBZ B-VP +only RB B-NP +a DT I-NP +four-day JJ I-NP +supply NN I-NP +of IN B-PP +microprocessors NNS B-NP +from IN B-PP +the DT B-NP +Valley NNP I-NP +on IN B-PP +hand NN B-NP +because IN B-PP +of IN I-PP +a DT B-NP +just-in-time JJ I-NP +manufacturing NN I-NP +approach NN I-NP +that IN B-NP +limits VBZ B-VP +the DT B-NP +buildup NN I-NP +of IN B-PP +inventory NN B-NP +. . O + +Compaq NNP B-NP +said VBD B-VP +it PRP B-NP +foresees VBZ B-VP +no DT B-NP +difficulties NNS I-NP +in IN B-PP +obtaining VBG B-VP +parts NNS B-NP +in IN B-PP +the DT B-NP +immediate JJ I-NP +future NN I-NP +. . O + +Computer NN B-NP +makers NNS I-NP +were VBD B-VP +scrambling VBG I-VP +to TO I-VP +help VB I-VP +customers NNS B-NP +recover VB B-VP +from IN B-PP +the DT B-NP +disaster NN I-NP +. . O + +Digital NNP B-NP +Equipment NNP I-NP +has VBZ B-VP +set VBN I-VP +up IN B-PRT +disaster-recovery JJ B-NP +response NN I-NP +centers NNS I-NP +in IN B-PP +Dallas NNP B-NP +, , O +Atlanta NNP B-NP +and CC O +Colorado NNP B-NP +Springs NNP I-NP +, , O +Colo NNP B-NP +. . O + +These DT B-NP +units NNS I-NP +were VBD B-VP +handling NN I-VP +calls VBZ B-NP +both DT O +from IN B-PP +people NNS B-NP +in IN B-PP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +area NN I-NP +and CC B-PP +from IN B-PP +computers NNS B-NP +themselves PRP O +, , O +which WDT B-NP +are VBP B-VP +set VBN I-VP +to TO I-VP +dial VB I-VP +Digital NNP B-NP +automatically RB B-ADVP +when WRB B-ADVP +trouble NN B-NP +arises VBZ B-VP +. . O + +They PRP B-NP +then RB B-ADVP +run VBP B-VP +remotely RB B-NP +controlled VBN I-NP +self-diagnostic JJ I-NP +programs NNS I-NP +. . O + +Digital NNP B-NP +also RB B-ADVP +said VBD B-VP +it PRP B-NP +has VBZ B-VP +dispatched VBN I-VP +teams NNS B-NP +of IN B-PP +technicians NNS B-NP +to TO B-PP +California NNP B-NP +. . O + +Meanwhile RB B-ADVP +, , O +several JJ B-NP +other JJ I-NP +major JJ I-NP +installations NNS I-NP +around IN B-PP +the DT B-NP +Valley NNP I-NP +-- : O +America NNP B-NP +'s POS B-NP +center NN I-NP +of IN B-PP +high-tech JJ B-NP +-- : O +said VBD B-VP +they PRP B-NP +, , O +too RB B-ADVP +, , O +fared VBD B-VP +as RB B-ADVP +well RB I-ADVP +as IN B-SBAR +could MD B-VP +be VB I-VP +expected VBN I-VP +. . O + +Lawrence NNP B-NP +Livermore NNP I-NP +National NNP I-NP +Laboratory NNP I-NP +, , O +where WRB B-ADVP +the DT B-NP +Energy NNP I-NP +Department NNP I-NP +tests NNS B-VP +and CC O +conducts VBZ B-VP +research NN B-NP +on IN B-PP +nuclear JJ B-NP +weapons NNS I-NP +, , O +had VBD B-VP +only RB B-ADVP +`` `` O +superficial JJ B-NP +damage NN I-NP +, , O +'' '' O +a DT B-NP +spokesman NN I-NP +said VBD B-VP +. . O + +At IN B-PP +Lockheed NNP B-NP +Corp. NNP I-NP +'s POS B-NP +missiles NNS I-NP +and CC I-NP +space NN I-NP +systems NNS I-NP +group VBP I-NP +in IN B-PP +Sunnyvale NNP B-NP +, , O +about IN B-NP +40 CD I-NP +miles NNS I-NP +south RB B-ADVP +of IN B-PP +San NNP B-NP +Francisco NNP I-NP +, , O +workers NNS B-NP +were VBD B-VP +asked VBN I-VP +to TO B-VP +head VB I-VP +to TO B-PP +work VB B-NP +yesterday NN B-NP +after IN B-SBAR +it PRP B-NP +was VBD B-VP +realized VBN I-VP +that IN B-SBAR +`` `` O +there EX B-NP +were VBD B-VP +no DT B-NP +show-stoppers NNS I-NP +'' '' O +in IN B-PP +the DT B-NP +150-plus JJ I-NP +buildings NNS I-NP +on IN B-PP +its PRP$ B-NP +one-square-mile JJ I-NP +campus NN I-NP +. . O + +Several JJ B-NP +engineering NN I-NP +and CC I-NP +research NN I-NP +offices NNS I-NP +needed VBN B-VP +closer JJR B-NP +scrutiny NN I-NP +to TO B-VP +make VB I-VP +sure JJ B-ADJP +they PRP B-NP +were VBD B-VP +n't RB O +in IN B-PP +danger NN B-NP +of IN B-PP +crumbling VBG B-NP +, , O +but CC O +`` `` O +the DT B-NP +bulk NN I-NP +of IN B-PP +the DT B-NP +place NN I-NP +is VBZ B-VP +in IN B-PP +pretty RB B-NP +good JJ I-NP +shape NN I-NP +, , O +'' '' O +an DT B-NP +official NN I-NP +said VBD B-VP +. . O + +One CD B-NP +of IN B-PP +Lockheed NNP B-NP +'s POS B-NP +most RBS B-ADJP +lucrative JJ I-ADJP +sectors NNS B-NP +-- : O +accounting NN B-VP +for IN B-PP +more JJR O +than IN O +half PDT O +the DT B-NP +aerospace NN I-NP +company NN I-NP +'s POS B-NP +$ $ I-NP +10.59 CD I-NP +billion CD I-NP +in IN B-PP +sales NNS B-NP +in IN B-PP +1988 CD B-NP +-- : O +the DT B-NP +missiles NNS I-NP +and CC I-NP +space NN I-NP +group NN I-NP +is VBZ B-VP +the DT B-NP +prime JJ I-NP +Pentagon NNP I-NP +contractor NN I-NP +on IN B-PP +the DT B-NP +Trident NNP I-NP +II NNP I-NP +ballistic JJ I-NP +missile NN I-NP +. . O + +It PRP B-NP +also RB B-ADVP +generates VBZ B-VP +pieces NNS B-NP +of IN B-PP +the DT B-NP +missile NN I-NP +shield NN I-NP +called VBD B-VP +the DT B-NP +Strategic NNP I-NP +Defense NNP I-NP +Initiative NNP I-NP +. . O + +Fortunately RB B-ADVP +, , O +the DT B-NP +Hubble NNP I-NP +Space NNP I-NP +Telescope NNP I-NP +-- : O +set VBN B-VP +to TO I-VP +be VB I-VP +launched VBN I-VP +on IN B-PP +the DT B-NP +shuttle NN I-NP +next JJ B-NP +year NN I-NP +in IN B-PP +a DT B-NP +search NN I-NP +for IN B-PP +distant JJ B-NP +solar JJ I-NP +systems NNS I-NP +and CC O +light NN B-NP +emitted VBN B-VP +14 CD B-NP +billion CD I-NP +years NNS I-NP +ago RB B-ADVP +from IN B-PP +the DT B-NP +farthest JJS I-NP +reaches NNS I-NP +of IN B-PP +the DT B-NP +universe NN I-NP +-- : O +was VBD B-VP +moved VBN I-VP +from IN B-PP +Sunnyvale NNP B-NP +to TO B-PP +the DT B-NP +Kennedy NNP I-NP +Space NNP I-NP +Center NNP I-NP +in IN B-PP +Florida NNP B-NP +at IN B-PP +the DT B-NP +beginning NN I-NP +of IN B-PP +October NNP B-NP +. . O + +John NNP B-NP +R. NNP I-NP +Wilke NNP I-NP +contribued VBD B-VP +to TO B-PP +this DT B-NP +article NN I-NP +. . O + +Michael NNP B-NP +Maynard NNP I-NP +offered VBD B-VP +the DT B-NP +world NN I-NP +a DT B-NP +faster JJR I-NP +way NN I-NP +to TO B-VP +break VB I-VP +eggs NNS B-NP +. . O + +As IN B-PP +thanks NNS B-NP +, , O +the DT B-NP +egg NN I-NP +industry NN I-NP +tried VBD B-VP +to TO I-VP +break VB I-VP +him PRP B-NP +. . O + +And CC O +the DT B-NP +egg NN I-NP +producers NNS I-NP +have VBP B-VP +done VBN I-VP +a DT B-NP +pretty RB I-NP +good JJ I-NP +job NN I-NP +. . O + +They PRP B-NP +tried VBD B-VP +to TO I-VP +put VB I-VP +Mr. NNP B-NP +Maynard NNP I-NP +out IN B-ADJP +of IN B-PP +business NN B-NP +by IN B-PP +an DT B-NP +act NN I-NP +of IN B-PP +Congress NNP B-NP +. . O + +Egg-industry NN B-NP +lobbying VBG I-NP +helped VBN B-VP +persuade VB I-VP +six CD B-NP +states NNS I-NP +to TO B-VP +ban VB I-VP +Mr. NNP B-NP +Maynard NNP I-NP +'s POS B-NP +automatic JJ I-NP +egg-breaking NN I-NP +machine NN I-NP +because IN B-PP +of IN I-PP +fears NNS B-NP +over IN B-PP +salmonella NN B-NP +. . O + +His PRP$ B-NP +company NN I-NP +, , O +Misa NNP B-NP +Manufacturing NNP I-NP +Inc. NNP I-NP +, , O +was VBD B-VP +forced VBN I-VP +to TO I-VP +seek VB I-VP +protection NN B-NP +from IN B-PP +creditors NNS B-NP +under IN B-PP +federal JJ B-NP +bankruptcy NN I-NP +law NN I-NP +in IN B-PP +1987 CD B-NP +and CC O +has VBZ B-VP +since IN I-VP +been VBN I-VP +liquidated VBN I-VP +. . O + +Monthly JJ B-NP +sales NNS I-NP +of IN B-PP +his PRP$ B-NP +Egg NNP I-NP +King NNP I-NP +machine NN I-NP +-- : O +which WDT B-NP +he PRP B-NP +now RB B-ADVP +is VBZ B-VP +marketing VBG I-VP +through IN B-PP +a DT B-NP +new JJ I-NP +company NN I-NP +-- : O +have VBP B-VP +sunk VBN I-VP +to TO B-PP +about IN B-NP +half PDT I-NP +a DT I-NP +dozen NN I-NP +from IN B-PP +a DT B-NP +peak NN I-NP +of IN B-PP +75 CD B-NP +, , O +says VBZ B-VP +the DT B-NP +46-year-old JJ I-NP +businessman NN I-NP +. . O + +Mr. NNP B-NP +Maynard NNP I-NP +is VBZ B-VP +n't RB O +the DT B-NP +first JJ I-NP +entrepreneur NN I-NP +to TO B-VP +bump VB I-VP +up IN B-PRT +against IN B-PP +entrenched VBN B-NP +interests NNS I-NP +. . O + +But CC O +his PRP$ B-NP +case NN I-NP +is VBZ B-VP +notable JJ B-ADJP +both DT O +for IN B-PP +the DT B-NP +scale NN I-NP +of IN B-PP +the DT B-NP +fight NN I-NP +-- : O +it PRP B-NP +is VBZ B-VP +n't RB O +often RB B-ADVP +that IN B-ADVP +a DT B-NP +congressional JJ I-NP +hearing NN I-NP +is VBZ B-VP +held VBN I-VP +to TO B-VP +determine VB I-VP +whether IN B-SBAR +one CD B-NP +small JJ I-NP +businessman NN I-NP +is VBZ B-VP +a DT B-NP +threat NN I-NP +to TO B-PP +the DT B-NP +republic NN I-NP +-- : O +and CC B-PP +for IN B-PP +what WP B-NP +it PRP B-NP +tells VBZ B-VP +about IN B-PP +the DT B-NP +pitfalls NNS I-NP +of IN B-PP +marketing VBG B-VP +a DT B-NP +new JJ I-NP +product NN I-NP +. . O + +Now RB B-ADVP +one PRP B-NP +might MD B-VP +ask VB I-VP +why WRB B-ADVP +people NNS B-NP +who WP B-NP +sell VBP B-VP +eggs NNS B-NP +would MD B-VP +fight VB I-VP +someone NN B-NP +who WP B-NP +is VBZ B-VP +trying VBG I-VP +to TO I-VP +make VB I-VP +it PRP B-NP +easier JJR B-ADJP +to TO B-VP +crack VB I-VP +them PRP B-NP +. . O + +Part NN B-NP +of IN B-PP +the DT B-NP +answer NN I-NP +lies VBZ B-VP +in IN B-PP +the DT B-NP +nature NN I-NP +of IN B-PP +the DT B-NP +industry NN I-NP +. . O + +Many RB B-NP +larger JJR I-NP +egg NN I-NP +producers NNS I-NP +are VBP B-VP +also RB B-ADVP +egg NN B-NP +processors NNS I-NP +, , O +who WP B-NP +crack VBP B-VP +, , I-VP +inspect VB I-VP +, , I-VP +and CC I-VP +sanitize VBP I-VP +billions NNS B-NP +of IN B-PP +eggs NNS B-NP +, , O +turning VBG B-VP +them PRP B-NP +into IN B-PP +powdered JJ B-NP +, , I-NP +liquified JJ I-NP +or CC I-NP +frozen VBN I-NP +egg NN I-NP +products NNS I-NP +. . O + +However RB B-ADVP +, , O +dozens NNS B-NP +of IN B-PP +bakers NNS B-NP +, , O +restaurant NN B-NP +chefs NNS I-NP +and CC O +other JJ B-NP +food NN I-NP +preparers NNS I-NP +who WP B-NP +flocked VBD B-VP +to TO B-PP +Mr. NNP B-NP +Maynard NNP I-NP +'s POS B-NP +defense NN I-NP +say VBP B-VP +that IN B-SBAR +products NNS B-NP +ranging VBG B-VP +from IN B-PP +egg NN B-NP +bread NN I-NP +to TO B-PP +eclairs NNS B-NP +lose VBP B-VP +some DT B-NP +zip NN I-NP +when WRB B-ADVP +the DT B-NP +eggs NNS I-NP +come VBP B-VP +in IN B-PP +30-pound JJ B-NP +cans NNS I-NP +instead RB B-CONJP +of IN I-CONJP +shells NNS B-NP +. . O + +But CC O +for IN B-PP +companies NNS B-NP +that IN B-NP +use NN B-VP +hundreds NNS B-NP +of IN B-PP +eggs NNS B-NP +a DT B-NP +day NN I-NP +, , O +breaking VBG B-VP +them PRP B-NP +by IN B-PP +hand NN B-NP +can MD B-VP +get VB I-VP +, , O +well RB B-ADVP +, , O +out IN B-ADJP +of IN B-PP +hand NN B-NP +. . O + +The DT B-NP +idea NN I-NP +behind IN B-PP +the DT B-NP +Egg NNP I-NP +King NNP I-NP +is VBZ B-VP +pretty RB B-NP +simple JJ I-NP +: : O +put VB B-VP +the DT B-NP +eggs NNS I-NP +into IN B-PP +a DT B-NP +cylinder NN I-NP +that WDT B-NP +contains VBZ B-VP +perforated JJ B-NP +baskets NNS I-NP +, , O +spin VB B-VP +them PRP B-NP +at IN B-PP +a DT B-NP +high JJ I-NP +speed NN I-NP +to TO B-VP +break VB I-VP +the DT B-NP +shells NNS I-NP +and CC O +strain VB B-VP +the DT B-NP +edible JJ I-NP +part NN I-NP +through IN B-PP +the DT B-NP +baskets NNS I-NP +. . O + +One CD B-NP +Egg NNP I-NP +King NNP I-NP +-- : O +which WDT B-NP +at IN B-PP +just RB B-ADVP +under IN I-ADVP +four CD B-NP +feet NNS I-NP +tall JJ B-ADJP +and CC O +two CD B-NP +feet NNS I-NP +wide JJ B-ADJP +has VBZ B-VP +been VBN I-VP +likened VBN I-VP +to TO B-PP +the DT B-NP +robot NN I-NP +R2-D2 NN B-NP +-- : O +can MD B-VP +crack VB I-VP +about IN B-NP +20,000 CD I-NP +eggs NNS I-NP +an DT B-NP +hour NN I-NP +. . O + +Because IN B-SBAR +fresh JJ B-NP +eggs NNS I-NP +are VBP B-VP +less RBR B-ADJP +expensive JJ I-ADJP +than IN B-PP +processed VBN B-NP +ones NNS I-NP +, , O +a DT B-NP +big JJ I-NP +egg NN I-NP +user NN I-NP +can MD B-VP +recover VB I-VP +the DT B-NP +Egg NNP I-NP +King NNP I-NP +'s POS B-NP +$ $ B-ADJP +3,390 CD O +cost NN B-NP +in IN B-PP +a DT B-NP +few JJ I-NP +months NNS I-NP +, , O +says VBZ B-VP +Mr. NNP B-NP +Maynard NNP I-NP +. . O + +Such JJ B-NP +centrifugal JJ I-NP +egg NN I-NP +breakers NNS I-NP +have VBP B-VP +been VBN I-VP +around IN B-ADJP +since IN B-PP +the DT B-NP +1890s CD I-NP +. . O + +But CC O +when WRB B-ADVP +Mr. NNP B-NP +Maynard NNP I-NP +came VBD B-VP +forward RB B-ADVP +with IN B-PP +his PRP$ B-NP +machine NN I-NP +in IN B-PP +the DT B-NP +early JJ I-NP +1970s NNS I-NP +nobody NN B-NP +else RB B-ADJP +was VBD B-VP +offering VBG I-VP +them PRP B-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +. . O + +The DT B-NP +main JJ I-NP +reason NN I-NP +: : O +salmonella NN B-NP +. . O + +Chickens NNS B-NP +carry VBP B-VP +this DT B-NP +bacteria NNS I-NP +, , O +which WDT B-NP +can MD B-VP +cause VB I-VP +upset VBN B-NP +stomachs NNS I-NP +and CC O +, , O +in IN B-PP +rare JJ B-NP +cases NNS I-NP +, , O +death NN B-NP +among IN B-PP +people NNS B-NP +. . O + +Hens NNS B-NP +sometimes RB B-ADVP +pass VBP B-VP +salmonella NN B-NP +to TO B-PP +the DT B-NP +eggs NNS I-NP +, , O +and CC O +it PRP B-NP +can MD B-VP +also RB I-VP +be VB I-VP +found VBN I-VP +on IN B-PP +unclean JJ B-NP +shells NNS I-NP +. . O + +Thus RB B-ADVP +, , O +any DT B-NP +machine NN I-NP +that IN B-NP +breaks VBZ B-VP +large JJ B-NP +amounts NNS I-NP +of IN B-PP +eggs NNS B-NP +at IN B-ADVP +once RB I-ADVP +has VBZ B-VP +the DT B-NP +potential JJ I-NP +to TO B-VP +spread VB I-VP +salmonella NN B-NP +if IN B-SBAR +a DT B-NP +bad JJ I-NP +egg NN I-NP +gets VBZ B-VP +in IN B-ADJP +with IN B-PP +the DT B-NP +good JJ I-NP +ones NNS I-NP +. . O + +Mr. NNP B-NP +Maynard NNP I-NP +claims VBZ B-VP +this DT B-NP +is VBZ B-VP +a DT B-NP +manageable JJ I-NP +problem NN I-NP +. . O + +The DT B-NP +Egg NNP I-NP +King NNP I-NP +carries VBZ B-VP +written VBN B-NP +instructions NNS I-NP +to TO B-VP +break VB I-VP +only RB B-NP +high-grade JJ I-NP +eggs NNS I-NP +that WDT B-NP +have VBP B-VP +been VBN I-VP +properly RB I-VP +sanitized VBN I-VP +and CC O +, , O +as IN B-PP +an DT B-NP +added VBN I-NP +precaution NN I-NP +, , B-VP +to TO I-VP +use VB B-VP +the DT B-NP +eggs NNS I-NP +only RB B-ADVP +in IN B-PP +products NNS B-NP +that WDT B-NP +will MD B-VP +be VB I-VP +cooked VBN I-VP +enough RB B-ADVP +to TO B-VP +kill VB I-VP +bacteria NNS B-NP +. . O + +With IN B-SBAR +nearly RB B-NP +4,000 CD I-NP +machines NNS I-NP +in IN B-PP +use NN B-NP +, , O +there EX B-NP +have VBP B-VP +been VBN I-VP +no DT B-NP +salmonella NN I-NP +problems NNS I-NP +as RB B-ADVP +long RB I-ADVP +as IN B-SBAR +instructions NNS B-NP +were VBD B-VP +followed VBN I-VP +, , O +Mr. NNP B-NP +Maynard NNP I-NP +boasts VBZ B-VP +. . O + +He PRP B-NP +says VBZ B-VP +the DT B-NP +handful NN I-NP +of IN B-PP +salmonella NN B-NP +cases NNS I-NP +involving VBG B-VP +products NNS B-NP +that WDT B-NP +may MD B-VP +have VB I-VP +used VBN I-VP +eggs NNS B-NP +broken VBN B-VP +by IN B-PP +an DT B-NP +Egg NNP I-NP +King NNP I-NP +stemmed VBD B-VP +from IN B-PP +a DT B-NP +failure NN I-NP +to TO B-VP +adequately RB I-VP +cook VBP I-VP +the DT B-NP +products NNS I-NP +. . O + +But CC O +he PRP B-NP +says VBZ B-VP +that DT B-NP +'s VBZ B-VP +no DT B-NP +more JJR I-NP +a DT I-NP +reason NN I-NP +for IN B-PP +banning VBG B-VP +Egg NNP B-NP +Kings NNP I-NP +than IN B-SBAR +bad JJ B-NP +drivers NNS I-NP +are VBP B-VP +a DT B-NP +reason NN I-NP +for IN B-PP +banning VBG B-VP +cars NNS B-NP +. . O + +Opponents NNS B-NP +do VBP B-VP +n't RB I-VP +buy VB I-VP +such JJ B-NP +arguments NNS I-NP +. . O + +`` `` O +Human NNP B-NP +nature NN I-NP +being VBG B-VP +what WP B-NP +it PRP B-NP +is VBZ B-VP +, , O +people NNS B-NP +do VBP B-VP +n't RB I-VP +always RB I-VP +follow VB I-VP +instructions NNS B-NP +, , O +'' '' O +says VBZ B-VP +Jack NNP B-NP +Guzewich NNP I-NP +, , O +chief NN B-NP +of IN B-PP +food NN B-NP +protection NN I-NP +for IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +state NN I-NP +Health NNP I-NP +Department NNP I-NP +. . O + +Leading VBG B-VP +the DT B-NP +assault NN I-NP +against IN B-PP +the DT B-NP +Egg NNP I-NP +King NNP I-NP +has VBZ B-VP +been VBN I-VP +United NNP B-NP +Egg NNP I-NP +Producers NNS I-NP +. . O + +The DT B-NP +Decatur NNP I-NP +, , I-NP +Ga. NNP I-NP +, , I-NP +trade NN I-NP +group NN I-NP +has VBZ B-VP +issued VBN I-VP +a DT B-NP +`` `` I-NP +briefing NN I-NP +book NN I-NP +'' '' O +that IN B-NP +claims VBZ B-VP +the DT B-NP +machine NN I-NP +is VBZ B-VP +`` `` O +a DT B-NP +health NN I-NP +hazard NN I-NP +'' '' O +and CC O +that IN B-SBAR +Mr. NNP B-NP +Maynard NNP I-NP +is VBZ B-VP +trying VBG I-VP +`` `` O +to TO B-VP +make VB I-VP +a DT B-NP +fast JJ I-NP +buck NN I-NP +at IN B-PP +the DT B-NP +expense NN I-NP +of IN B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +egg NN I-NP +producers NNS I-NP +. . O +'' '' O + +The DT B-NP +UEP NNP I-NP +declines NNS B-VP +to TO I-VP +comment VB I-VP +, , O +but CC O +the DT B-NP +group NN I-NP +'s POS B-NP +attorney NN I-NP +, , O +Alfred NNP B-NP +Frawley NNP I-NP +, , O +says VBZ B-VP +the DT B-NP +group NN I-NP +'s POS B-NP +actions NNS I-NP +are VBP B-VP +motivated VBN I-VP +solely RB B-ADVP +by IN B-PP +`` `` O +health NN B-NP +concerns NNS I-NP +. . O +'' '' O + +An DT B-NP +early JJ I-NP +battleground NN I-NP +was VBD B-VP +the DT B-NP +U.S. NNP I-NP +Department NNP I-NP +of IN B-PP +Agriculture NNP B-NP +. . O + +Mr. NNP B-NP +Maynard NNP I-NP +initially RB B-ADVP +won VBD B-VP +approval NN B-NP +for IN B-SBAR +his PRP$ B-NP +machine NN I-NP +to TO B-VP +be VB I-VP +used VBN I-VP +at IN B-PP +egg-processing JJ B-NP +facilities NNS I-NP +regulated VBN B-VP +by IN B-PP +the DT B-NP +USDA NNP I-NP +'s POS B-NP +Food NNP I-NP +Safety NNP I-NP +Inspection NNP I-NP +Service NNP I-NP +. . O + +Unfortunately RB B-ADVP +for IN B-PP +Mr. NNP B-NP +Maynard NNP I-NP +, , O +another DT B-NP +branch NN I-NP +of IN B-PP +the DT B-NP +USDA NNP I-NP +, , O +the DT B-NP +Agricultural NNP I-NP +Marketing NNP I-NP +Service NNP I-NP +, , O +was VBD B-VP +in IN B-PP +charge NN B-NP +of IN B-PP +eggs NNS B-NP +. . O + +After IN B-PP +receiving VBG B-VP +complaints NNS B-NP +from IN B-PP +egg NN B-NP +producers NNS I-NP +, , O +this DT B-NP +branch NN I-NP +got VBD B-VP +the DT B-NP +other JJ I-NP +branch NN I-NP +to TO B-VP +rescind VB I-VP +its PRP$ B-NP +approval NN I-NP +, , O +thus RB B-ADVP +limiting VBG B-VP +the DT B-NP +machine NN I-NP +'s POS B-NP +potential JJ I-NP +market NN I-NP +to TO B-PP +bakeries NNS B-NP +and CC O +restaurants NNS B-NP +and CC O +other JJ B-NP +establishments NNS I-NP +that WDT B-NP +are VBP B-VP +n't RB I-VP +regulated VBN I-VP +by IN B-PP +the DT B-NP +USDA NNP I-NP +. . O + +The DT B-NP +egg NN I-NP +producers NNS I-NP +also RB B-ADVP +lobbied VBD B-VP +the DT B-NP +Food NNP I-NP +and CC I-NP +Drug NNP I-NP +Administration NNP I-NP +. . O + +But CC O +the DT B-NP +FDA NNP I-NP +in IN B-PP +a DT B-NP +1985 CD I-NP +letter NN I-NP +to TO B-PP +the DT B-NP +United NNP I-NP +Egg NNP I-NP +Producers NNS I-NP +said VBD B-VP +that IN B-SBAR +there EX B-NP +was VBD B-VP +`` `` O +little JJ B-NP +likelihood NN I-NP +'' '' O +of IN B-PP +a DT B-NP +health NN I-NP +problem NN I-NP +as RB B-ADVP +long RB I-ADVP +as IN B-SBAR +instructions NNS B-NP +were VBD B-VP +followed VBN I-VP +. . O + +So RB O +the DT B-NP +producers NNS I-NP +went VBD B-VP +to TO B-PP +Capitol NNP B-NP +Hill NNP I-NP +, , O +where WRB B-ADVP +a DT B-NP +congressman NN I-NP +from IN B-PP +Georgia NNP B-NP +introduced VBD B-VP +a DT B-NP +measure NN I-NP +to TO B-VP +ban VB I-VP +centrifugal JJ B-NP +egg-breaking NN I-NP +machines NNS I-NP +. . O + +Mr. NNP B-NP +Maynard NNP I-NP +, , O +whose WP$ B-NP +company NN I-NP +at IN B-PP +the DT B-NP +time NN I-NP +was VBD B-VP +based VBN I-VP +in IN B-PP +Santa NNP B-NP +Ana NNP I-NP +, , O +Calif. NNP B-NP +, , O +enlisted VBD B-VP +his PRP$ B-NP +local JJ I-NP +congressman NN I-NP +, , O +and CC O +the DT B-NP +battle NN I-NP +was VBD B-VP +joined VBN I-VP +. . O + +Mr. NNP B-NP +Maynard NNP I-NP +'s POS B-NP +forces NNS I-NP +finally RB B-ADVP +defeated VBN B-VP +the DT B-NP +measure NN I-NP +, , O +though IN B-SBAR +it PRP B-NP +took VBD B-VP +a DT B-NP +vote NN I-NP +on IN B-PP +the DT B-NP +floor NN I-NP +of IN B-PP +the DT B-NP +House NNP I-NP +of IN B-PP +Representatives NNPS B-NP +to TO B-VP +do VB I-VP +it PRP B-NP +. . O + +Even RB B-ADVP +then RB I-ADVP +, , O +opponents NNS B-NP +managed VBD B-VP +to TO I-VP +get VB I-VP +a DT B-NP +congressional JJ I-NP +hearing NN I-NP +to TO B-VP +examine VB I-VP +what WP B-NP +one CD B-NP +congressman NN I-NP +called VBD B-VP +an DT B-NP +`` `` I-NP +unscrupulous JJ I-NP +'' '' I-NP +method NN I-NP +for IN B-PP +breaking VBG B-VP +eggs NNS B-NP +. . O + +Foiled VBN B-VP +in IN B-PP +their PRP$ B-NP +effort NN I-NP +to TO B-VP +get VB I-VP +a DT B-NP +national JJ I-NP +ban NN I-NP +, , O +the DT B-NP +egg NN I-NP +producers NNS I-NP +turned VBD B-VP +their PRP$ B-NP +attention NN I-NP +to TO B-PP +the DT B-NP +states NNS I-NP +. . O + +So RB B-ADVP +far RB I-ADVP +, , O +New NNP B-NP +York NNP I-NP +, , O +New NNP B-NP +Jersey NNP I-NP +, , O +Nebraska NNP B-NP +, , O +Georgia NNP B-NP +, , O +Michigan NNP B-NP +and CC O +Minnesota NNP B-NP +have VBP B-VP +outlawed VBN I-VP +Mr. NNP B-NP +Maynard NNP I-NP +'s POS B-NP +device NN I-NP +, , O +citing VBG B-VP +health NN B-NP +concerns NNS I-NP +. . O + +An DT B-NP +antitrust JJ I-NP +suit NN I-NP +that IN B-NP +Mr. NNP B-NP +Maynard NNP I-NP +'s POS B-NP +company NN I-NP +filed VBN B-VP +in IN B-PP +Los NNP B-NP +Angeles NNP I-NP +federal JJ I-NP +court NN I-NP +against IN B-PP +the DT B-NP +United NNP I-NP +Egg NNP I-NP +Producers NNS I-NP +and CC O +others NNS B-NP +only RB B-ADVP +added VBD B-VP +to TO B-PP +the DT B-NP +entrepreneur NN I-NP +'s POS B-NP +woes NNS I-NP +. . O + +The DT B-NP +judge NN I-NP +dismissed VBD B-VP +the DT B-NP +suit NN I-NP +and CC O +ordered VBD B-VP +Mr. NNP B-NP +Maynard NNP I-NP +'s POS B-NP +company NN I-NP +to TO B-VP +pay VB I-VP +over IN B-NP +$ $ I-NP +100,000 CD I-NP +in IN B-PP +legal JJ B-NP +fees NNS I-NP +to TO B-PP +the DT B-NP +defendants NNS I-NP +' POS B-NP +lawyers NNS I-NP +. . O + +Mr. NNP B-NP +Maynard NNP I-NP +says VBZ B-VP +the DT B-NP +ruling NN I-NP +pushed VBD B-VP +his PRP$ B-NP +company NN I-NP +into IN B-PP +bankruptcy NN B-NP +court NN I-NP +. . O + +Now RB B-ADVP +he PRP B-NP +has VBZ B-VP +moved VBN I-VP +to TO B-PP +Oklahoma NNP B-NP +where WRB B-ADVP +costs NNS B-NP +are VBP B-VP +lower JJR B-ADJP +, , O +and CC O +started VBD B-VP +a DT B-NP +new JJ I-NP +company NN I-NP +, , O +Adsi NNP B-NP +Inc. NNP I-NP +, , O +to TO B-VP +market VB I-VP +his PRP$ B-NP +machine NN I-NP +. . O + +But CC O +, , O +so RB B-ADVP +far RB I-ADVP +, , O +the DT B-NP +change NN I-NP +of IN B-PP +scenery NN B-NP +has VBZ B-VP +n't RB I-VP +ended VBN I-VP +his PRP$ B-NP +string NN I-NP +of IN B-PP +bad JJ B-NP +breaks NNS I-NP +. . O + +Mr. NNP B-NP +Maynard NNP I-NP +recently RB B-ADVP +fell VBD B-VP +from IN B-PP +a DT B-NP +horse NN I-NP +and CC O +fractured VBN B-VP +his PRP$ B-NP +arm NN I-NP +. . O + +Michelle NNP B-NP +Pfeiffer NNP I-NP +ca MD B-VP +n't RB I-VP +chew VB I-VP +gum NN B-NP +and CC O +sing VB B-VP +at IN B-PP +the DT B-NP +same JJ I-NP +time NN I-NP +. . O + +But CC O +on IN B-PP +the DT B-NP +evidence NN I-NP +of IN B-PP +`` `` O +The DT B-NP +Fabulous NNP I-NP +Baker NNP I-NP +Boys NNPS I-NP +, , O +'' '' O +that WDT B-NP +may MD B-VP +be VB I-VP +the DT B-NP +only JJ I-NP +thing NN I-NP +she PRP B-NP +ca MD B-VP +n't RB I-VP +do VB I-VP +, , O +at IN B-ADVP +least JJS I-ADVP +when WRB B-ADVP +she PRP B-NP +'s VBZ B-VP +acting VBG I-VP +in IN B-PP +movies NNS B-NP +. . O + +As IN B-PP +the DT B-NP +tough JJ I-NP +, , I-NP +slinky JJ I-NP +lounge NN I-NP +chanteuse NN I-NP +in IN B-PP +`` `` O +The DT B-NP +Fabulous NNP I-NP +Baker NNP I-NP +Boys NNPS I-NP +, , O +'' '' O +Ms. NNP B-NP +Pfeiffer NNP I-NP +sings VBZ B-VP +for IN B-PP +herself PRP B-NP +, , O +and CC O +more JJR B-ADVP +than IN I-ADVP +passably RB I-ADVP +well RB I-ADVP +. . O + +Her PRP$ B-NP +Susie NNP I-NP +Diamond NNP I-NP +handles VBZ B-VP +a DT B-NP +song NN I-NP +the DT B-NP +way NN I-NP +the DT B-NP +greats NNS I-NP +do VBP B-VP +, , O +like IN B-SBAR +she PRP B-NP +'s VBZ B-VP +hearing VBG I-VP +the DT B-NP +way NN I-NP +it PRP B-NP +should MD B-VP +sound VB I-VP +inside IN B-PP +her PRP$ B-NP +head NN I-NP +and CC O +she PRP B-NP +'s VBZ B-VP +concentrating VBG I-VP +on IN B-PP +matching VBG B-VP +that IN B-NP +internal JJ I-NP +tone NN I-NP +. . O + +Yet RB O +her PRP$ B-NP +intensity NN I-NP +stops VBZ B-VP +and CC I-VP +starts VBZ I-VP +with IN B-PP +the DT B-NP +music NN I-NP +. . O + +When WRB B-ADVP +she PRP B-NP +is VBZ B-VP +n't RB I-VP +performing VBG I-VP +for IN B-PP +an DT B-NP +audience NN I-NP +, , O +she PRP B-NP +prepares VBZ B-VP +for IN B-PP +a DT B-NP +song NN I-NP +by IN B-PP +removing VBG B-VP +the DT B-NP +wad NN I-NP +of IN B-PP +gum NN B-NP +from IN B-PP +her PRP$ B-NP +mouth NN I-NP +, , O +and CC O +indicates VBZ B-VP +that IN B-SBAR +she PRP B-NP +'s VBZ B-VP +finished VBN I-VP +by IN B-PP +sticking VBG B-VP +the DT B-NP +gum NN I-NP +back RB B-ADVP +in RB B-PP +. . O + +Like IN B-PP +almost JJ B-NP +everything NN I-NP +in IN B-PP +this DT B-NP +wonderfully RB I-NP +romantic JJ I-NP +and CC I-NP +edgy JJ I-NP +movie NN I-NP +, , O +Ms. NNP B-NP +Pfeiffer NNP I-NP +'s POS B-NP +Susie NNP I-NP +seems VBZ B-VP +like IN B-PP +someone NN B-NP +you PRP B-NP +'ve VBP B-VP +seen VBN I-VP +before RB B-ADVP +, , O +in IN B-PP +numerous JJ B-NP +show-biz NN I-NP +stories NNS I-NP +-LRB- ( O +even RB B-NP +her PRP$ I-NP +name NN I-NP +, , O +Susie NNP B-NP +Diamond NNP I-NP +, , O +sounds VBZ B-VP +like IN B-PP +a DT B-NP +character NN I-NP +Marilyn NNP B-NP +Monroe NNP I-NP +must MD B-VP +have VB I-VP +played VBN I-VP +-RRB- ) O +. . O + +Yet RB O +nothing NN B-NP +about IN B-PP +`` `` O +Baker NNP B-NP +Boys NNPS I-NP +, , O +'' '' O +and CC O +certainly RB B-ADVP +nothing NN B-NP +about IN B-PP +Ms. NNP B-NP +Pfeiffer NNP I-NP +, , O +really RB B-ADVP +is VBZ B-VP +like IN B-PP +something NN B-NP +from IN B-PP +the DT B-NP +video NN I-NP +vault NN I-NP +. . O + +Steve NNP B-NP +Kloves NNP I-NP +, , O +the DT B-NP +young JJ I-NP +writer NN I-NP +and CC I-NP +director NN I-NP +-LRB- ( O +he PRP B-NP +is VBZ B-VP +n't RB O +yet RB B-ADVP +30 CD B-NP +-RRB- ) O +, , O +has VBZ B-VP +only RB B-NP +one CD I-NP +produced VBN I-NP +picture NN I-NP +to TO B-PP +his PRP$ B-NP +credit NN I-NP +; : O +he PRP B-NP +wrote VBD B-VP +the DT B-NP +screenplay NN I-NP +for IN B-PP +`` `` O +Racing NNP B-VP +With IN B-PP +the DT B-NP +Moon NNP I-NP +, , O +'' '' O +a DT B-NP +lovely JJ I-NP +coming-of-age JJ I-NP +picture NN I-NP +set VBN B-VP +in IN B-PP +the DT B-NP +'40s NNS I-NP +. . O + +Both DT B-NP +movies NNS I-NP +are VBP B-VP +infused VBN I-VP +with IN B-PP +the DT B-NP +nostalgic JJ I-NP +sensibility NN I-NP +of IN B-PP +someone NN B-NP +much RB B-ADJP +older JJR I-ADJP +, , O +someone NN B-NP +who WP B-NP +does VBZ B-VP +n't RB I-VP +dismiss VB I-VP +dreams NNS B-NP +, , O +but CC O +who WP B-NP +also RB B-ADVP +has VBZ B-VP +enough JJ B-NP +experience NN I-NP +to TO B-VP +see VB I-VP +his PRP$ B-NP +limits NNS I-NP +. . O + +However RB B-ADVP +, , O +Mr. NNP B-NP +Kloves NNP I-NP +directs VBZ B-VP +his PRP$ B-NP +own JJ I-NP +material NN I-NP +without IN B-PP +sentimentality NN B-NP +and CC B-PP +at IN B-PP +its PRP$ B-NP +own JJ I-NP +eccentric JJ I-NP +pace NN I-NP +; : O +`` `` O +Baker NNP B-NP +Boys NNPS I-NP +'' '' O +is VBZ B-VP +both DT B-ADJP +bluesy JJ I-ADJP +and CC I-ADJP +funny JJ I-ADJP +. . O + +He PRP B-NP +'s VBZ B-VP +put VBN I-VP +a DT B-NP +fresh JJ I-NP +spin NN I-NP +on IN B-PP +material NN B-NP +that WDT B-NP +could MD B-VP +come VB I-VP +off IN B-PRT +terribly RB B-ADJP +cliched JJ I-ADJP +; : O +for IN B-PP +example NN B-NP +, , O +the DT B-NP +way NN I-NP +Susie NNP B-NP +wows VBZ B-VP +an DT B-NP +audience NN I-NP +the DT B-NP +first JJ I-NP +time NN I-NP +she PRP B-NP +sings VBZ B-VP +with IN B-PP +the DT B-NP +Baker NNP I-NP +Boys NNPS I-NP +. . O + +Of IN B-PP +course NN B-NP +, , O +it PRP B-NP +does VBZ B-VP +n't RB I-VP +hurt VBN I-VP +that IN B-SBAR +Mr. NNP B-NP +Kloves NNP I-NP +has VBZ B-VP +made VBN I-VP +up IN B-PRT +for IN B-PP +his PRP$ B-NP +lack NN I-NP +of IN B-PP +experience NN B-NP +behind IN B-PP +the DT B-NP +camera NN I-NP +with IN B-PP +technicians NNS B-NP +who WP B-NP +know VBP B-VP +exactly RB B-NP +what WP I-NP +they PRP B-NP +'re VBP B-VP +doing VBG I-VP +. . O + +Much RB B-NP +of IN B-PP +the DT B-NP +picture NN I-NP +'s POS B-NP +sensuality NN I-NP +emerges VBZ B-VP +from IN B-PP +cinematographer NN B-NP +Michael NNP I-NP +Ballhaus NNP I-NP +'s POS B-NP +slyly RB B-ADJP +seductive JJ I-ADJP +lens NN B-NP +work NN I-NP +. . O + +After IN B-PP +working VBG B-VP +for IN B-PP +years NNS B-NP +with IN B-PP +Werner NNP B-NP +Rainer NNP I-NP +Fassbinder NNP I-NP +, , O +the DT B-NP +late JJ I-NP +German JJ I-NP +director NN I-NP +, , B-PP +and CC I-PP +more RBR B-ADVP +recently RB I-ADVP +with IN B-PP +Martin NNP B-NP +Scorsese NNP I-NP +-LRB- ( O +`` `` O +After IN B-NP +Hours NNS I-NP +, , O +'' '' O +`` `` O +The DT B-NP +Color NNP I-NP +of IN B-PP +Money NNP B-NP +, , O +'' '' O +`` `` O +The DT B-NP +Last JJ I-NP +Temptation NN I-NP +of IN B-PP +Christ NNP B-NP +'' '' O +-RRB- ) O +, , O +Mr. NNP B-NP +Ballhaus NNP I-NP +has VBZ B-VP +developed VBN I-VP +a DT B-NP +distinctively RB I-NP +fluid NN I-NP +style NN I-NP +. . O + +And CC O +Dave NNP B-NP +Grusin NNP I-NP +'s POS B-NP +witty JJ I-NP +score NN I-NP +embraces VBZ B-VP +the DT B-NP +banal JJ I-NP +requirements NNS I-NP +of IN B-PP +banquet-hall NN B-NP +musicianship NN I-NP +-LRB- ( O +`` `` O +Feelings NNS B-NP +'' '' O +is VBZ B-VP +a DT B-NP +must MD O +-RRB- ) O +without IN B-PP +condescension NN B-NP +. . O + +Though IN B-SBAR +Ms. NNP B-NP +Pfeiffer NNP I-NP +has VBZ B-VP +the DT B-NP +flashy JJ I-NP +part NN I-NP +-- : O +she PRP B-NP +gets VBZ B-VP +the DT B-NP +best JJS I-NP +comic JJ I-NP +bits NNS I-NP +and CC O +to TO B-VP +wear VB I-VP +glamorous JJ B-NP +dresses NNS I-NP +and CC O +spiked JJ B-NP +heels NNS I-NP +the DT B-NP +boys NNS I-NP +are VBP B-VP +pretty RB B-ADJP +great JJ I-ADJP +, , O +too RB B-ADVP +. . O + +What WP B-NP +seemed VBD B-VP +like IN B-PP +a DT B-NP +good JJ I-NP +idea NN I-NP +, , O +to TO B-VP +cast VB I-VP +the DT B-NP +Bridges NNP I-NP +brothers NNS I-NP +-LRB- ( O +Jeff NNP B-NP +and CC I-NP +Beau NNP I-NP +-RRB- ) O +as IN B-PP +the DT B-NP +Baker NNP I-NP +brothers NNS I-NP +, , O +actually RB B-ADVP +turned VBD B-VP +out IN B-PRT +to TO B-VP +be VB I-VP +a DT B-NP +good JJ I-NP +idea NN I-NP +. . O + +Anyone NN B-NP +who WP B-NP +'s VBZ B-VP +tried VBD I-VP +to TO I-VP +appear VB I-VP +`` `` O +natural JJ B-ADJP +'' '' O +in IN B-PP +front NN B-NP +of IN B-PP +a DT B-NP +camera NN I-NP +knows VBZ B-VP +that IN B-SBAR +it PRP B-NP +'s VBZ B-VP +much RB B-ADJP +more RBR I-ADJP +natural JJ I-ADJP +to TO B-VP +end VB I-VP +up IN B-ADVP +looking VBG B-VP +like IN B-PP +a DT B-NP +stiff NN I-NP +. . O + +So RB O +it PRP B-NP +'s VBZ B-VP +quite RB B-ADJP +possible JJ I-ADJP +that IN B-SBAR +the DT B-NP +terrific JJ I-NP +play NN I-NP +between IN B-PP +the DT B-NP +brothers NNS I-NP +is VBZ B-VP +n't RB O +natural JJ B-ADJP +at IN B-ADVP +all DT I-ADVP +, , O +that IN B-SBAR +Jeff NNP B-NP +and CC I-NP +Beau NNP I-NP +had VBD B-VP +to TO I-VP +work VB I-VP +like IN B-PP +crazy JJ B-ADJP +to TO B-VP +make VB I-VP +their PRP$ B-NP +brotherly JJ I-NP +love NN I-NP +-- : O +and CC O +resentment NN B-NP +and CC I-NP +frustration NN I-NP +and CC I-NP +rage NN I-NP +-- : O +seem VB B-VP +so RB B-ADJP +very RB I-ADJP +real JJ I-ADJP +. . O + +When WRB B-ADVP +the DT B-NP +movie NN I-NP +opens VBZ B-VP +the DT B-NP +Baker NNP I-NP +brothers NNS I-NP +are VBP B-VP +doing VBG I-VP +what WP B-NP +they PRP B-NP +'ve VBP B-VP +done VBN I-VP +for IN B-PP +15 CD B-NP +years NNS I-NP +professionally RB B-ADVP +, , O +and CC O +twice RB B-ADVP +as RB I-ADVP +long RB I-ADVP +as IN B-PP +that DT B-NP +for IN B-PP +themselves PRP B-NP +: : O +They PRP B-NP +'re VBP B-VP +playing VBG I-VP +proficient JJ B-NP +piano NN I-NP +, , O +face-to-face JJ B-ADVP +, , O +on IN B-PP +twin JJ B-NP +pianos NNS I-NP +. . O + +They PRP B-NP +'re VBP B-VP +small JJ B-NP +time NN I-NP +in IN B-PP +the DT B-NP +small JJ I-NP +time-hotels NNS I-NP +-LRB- ( O +not RB O +the DT B-NP +best JJS I-NP +ones NNS I-NP +-RRB- ) O +and CC O +restaurants NNS B-NP +in IN B-PP +Seattle NNP B-NP +. . O + +Yet RB O +they PRP B-NP +do VBP B-VP +n't RB I-VP +disparage VB I-VP +their PRP$ B-NP +audiences NNS I-NP +by IN B-PP +disparaging VBG B-VP +their PRP$ B-NP +act NN I-NP +. . O + +They PRP B-NP +wear VBP B-VP +tuxedos NNS B-NP +most RBS B-NP +nights NNS I-NP +, , O +unless IN B-SBAR +circumstances NNS B-NP +-LRB- ( O +a DT B-NP +regular JJ I-NP +gig NN I-NP +at IN B-PP +a DT B-NP +`` `` I-NP +tropical JJ I-NP +'' '' I-NP +lounge NN I-NP +, , O +for IN B-PP +example NN B-NP +-RRB- ) O +require VB B-VP +them PRP B-NP +to TO B-VP +wear VB I-VP +special JJ B-NP +costumes NNS I-NP +, , O +like IN B-PP +Hawaiian NNP B-NP +shirts NNS I-NP +. . O + +Plump JJ B-NP +Beau NNP I-NP +, , O +looking VBG B-VP +eager JJ B-ADJP +to TO B-VP +please VB I-VP +with IN B-PP +his PRP$ B-NP +arched JJ I-NP +eyebrows NNS I-NP +and CC I-NP +round NN I-NP +face NN I-NP +, , O +plays VBZ B-VP +the DT B-NP +older JJR I-NP +brother NN I-NP +, , O +Frank NNP B-NP +. . O + +Frank NNP B-NP +plans VBZ B-VP +the DT B-NP +program NN I-NP +, , O +takes VBZ B-VP +care NN B-NP +of IN B-PP +business NN B-NP +, , O +and CC O +approaches VBZ B-VP +the DT B-NP +work NN I-NP +like IN B-PP +any DT B-NP +other JJ I-NP +job NN I-NP +. . O + +He PRP B-NP +'s VBZ B-VP +even RB B-ADVP +able JJ B-ADJP +to TO B-VP +think VB I-VP +of IN B-PP +a DT B-NP +job NN I-NP +that WDT B-NP +takes VBZ B-VP +him PRP B-NP +out IN B-ADVP +of IN B-PP +the DT B-NP +house NN I-NP +300 CD B-NP +nights NNS I-NP +a DT B-NP +week NN I-NP +as IN B-PP +an DT B-NP +ordinary JJ I-NP +job NN I-NP +. . O + +He PRP B-NP +'s VBZ B-VP +got VBD I-VP +a DT B-NP +wife NN I-NP +and CC O +two CD B-NP +kids NNS I-NP +and CC O +a DT B-NP +house NN I-NP +in IN B-PP +the DT B-NP +suburbs NNS I-NP +; : O +the DT B-NP +audience NN I-NP +sees VBZ B-VP +only RB B-NP +the DT I-NP +house NN I-NP +, , O +and CC O +only RB B-ADVP +near IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +movie NN I-NP +. . O + +Frank NNP B-NP +grovels VBZ B-VP +a DT B-NP +little JJ I-NP +for IN B-PP +the DT B-NP +bookers NNS I-NP +, , O +probably RB B-ADVP +no DT I-ADVP +more JJR I-ADVP +or CC I-ADVP +less JJR I-ADVP +than IN B-SBAR +he PRP B-NP +would MD B-VP +have VB I-VP +to TO I-VP +if IN B-SBAR +he PRP B-NP +worked VBD B-VP +for IN B-PP +a DT B-NP +big JJ I-NP +corporation NN I-NP +. . O + +On IN B-PP +his PRP$ B-NP +off-hours JJ I-NP +he PRP B-NP +wears VBZ B-VP +cardigan NN B-NP +sweaters NNS I-NP +. . O + +Jeff NNP B-NP +Bridges NNP I-NP +is VBZ B-VP +the DT B-NP +younger JJR I-NP +brother NN I-NP +, , O +Jack NNP B-NP +, , O +who WP B-NP +fancies VBZ B-VP +himself PRP B-NP +the DT B-NP +rebellious JJ I-NP +artist NN I-NP +; : O +he PRP B-NP +lives VBZ B-VP +in IN B-PP +a DT B-NP +loft NN I-NP +with IN B-PP +his PRP$ B-NP +sick JJ I-NP +dog NN I-NP +and CC O +the DT B-NP +occasional JJ I-NP +visit NN I-NP +from IN B-PP +the DT B-NP +little JJ I-NP +girl NN I-NP +upstairs NN B-NP +, , O +who WP B-NP +climbs VBZ B-VP +down RP B-PP +the DT B-NP +fire NN I-NP +escape NN I-NP +. . O + +Yet RB O +Jack NNP B-NP +'s POS B-VP +the DT B-NP +one CD I-NP +who WP B-NP +can MD B-VP +remember VB I-VP +every DT B-NP +dive NN I-NP +they PRP B-NP +ever RB B-ADVP +played VBD B-VP +, , O +and CC O +when WRB B-ADVP +, , O +and CC O +he PRP B-NP +dutifully RB B-VP +shows VBZ I-VP +up IN B-PRT +for IN B-PP +work NN B-NP +night NN B-NP +after IN B-PP +night NN B-NP +-LRB- ( O +he PRP B-NP +consoles VBZ B-VP +himself PRP B-NP +with IN B-PP +booze NN B-NP +and CC B-PP +by IN B-PP +showing VBG B-VP +up IN B-PRT +at IN B-PP +the DT B-NP +last JJ I-NP +minute NN I-NP +-RRB- ) O +. . O + +Looking VBG B-VP +leaner JJR B-ADJP +than IN B-SBAR +he PRP B-NP +has VBZ B-VP +in IN B-PP +a DT B-NP +while NN I-NP +, , O +the DT O +younger JJR B-NP +Mr. NNP I-NP +Bridges NNP I-NP +'s POS B-NP +Jack NNP I-NP +is VBZ B-VP +sexy JJ B-ADJP +and CC I-ADJP +cynical JJ I-ADJP +and CC O +a DT B-NP +far RB I-NP +sadder JJR I-NP +case NN I-NP +than IN B-PP +Frank NNP B-NP +, , O +who WP B-NP +'s VBZ B-VP +managed VBD I-VP +to TO I-VP +chisel VB I-VP +his PRP$ B-NP +dreams NNS I-NP +to TO B-VP +fit VB I-VP +reality NN B-NP +without IN B-PP +feeling NN B-VP +too RB B-ADJP +cheated VBD I-ADJP +. . O + +He PRP B-NP +can MD B-VP +live VB I-VP +with IN B-PP +little JJ B-NP +pleasures NNS I-NP +. . O + +Mr. NNP B-NP +Kloves NNP I-NP +has VBZ B-VP +put VBN I-VP +together RB B-ADVP +some DT B-NP +priceless JJ I-NP +moments NNS I-NP +. . O + +These DT B-NP +include VBP B-VP +Jennifer NNP B-NP +Tilly NNP I-NP +'s POS B-NP +audition NN I-NP +to TO B-VP +be VB I-VP +the DT B-NP +Baker NNP I-NP +Boys NNPS I-NP +' POS B-NP +girl NN I-NP +singer NN I-NP +. . O + +Ms. NNP B-NP +Tilly NNP I-NP +of IN B-PP +the DT B-NP +tweety-bird JJ I-NP +voice NN I-NP +showed VBD B-VP +great JJ B-NP +comic JJ I-NP +promise NN I-NP +during IN B-PP +her PRP$ B-NP +stint NN I-NP +as IN B-PP +the DT B-NP +mobster NN I-NP +'s POS B-NP +girlfriend NN I-NP +on IN B-PP +the DT B-NP +television NN I-NP +show NN I-NP +, , O +`` `` O +Hill NNP B-NP +Street NNP I-NP +Blues NNPS I-NP +. . O +'' '' O + +Here RB B-ADVP +she PRP B-NP +delivers VBZ B-VP +, , O +especially RB B-ADVP +during IN B-PP +her PRP$ B-NP +enthusiastically RB I-NP +awful JJ I-NP +rendition NN I-NP +of IN B-PP +the DT B-NP +`` `` I-NP +Candy NN I-NP +Man NN I-NP +, , O +'' '' O +which WDT B-NP +she PRP B-NP +sings VBZ B-VP +while IN B-SBAR +prancing NN B-VP +around IN B-ADVP +in IN B-PP +a DT B-NP +little JJ I-NP +cotton NN I-NP +candy NN I-NP +pink JJ I-NP +angora NN I-NP +sweater NN I-NP +that WDT B-NP +could MD B-VP +n't RB I-VP +be VB I-VP +more RBR B-ADJP +perfect JJ I-ADJP +. . O + +-LRB- ( O +It PRP B-NP +matches VBZ B-VP +her PRP$ B-NP +voice NN I-NP +. . O +-RRB- ) O + +And CC O +Ms. NNP B-NP +Pfeiffer NNP I-NP +'s POS B-NP +particular JJ I-NP +version NN I-NP +of IN B-PP +`` `` O +Making VBG B-VP +Whoopee NN B-NP +'' '' O +-- : O +and CC O +the DT B-NP +way NN I-NP +Mr. NNP B-NP +Ballhaus NNP I-NP +photographs VBZ B-VP +her PRP$ B-NP +, , O +from IN B-PP +the DT B-NP +tips NNS I-NP +of IN B-PP +her PRP$ B-NP +red JJ I-NP +high JJ I-NP +heels NNS I-NP +right NN B-ADVP +up IN B-PP +her PRP$ B-NP +clingy JJ I-NP +red JJ I-NP +velvet NN I-NP +dress NN I-NP +-- : O +might MD B-VP +make VB I-VP +you PRP B-NP +think VB B-VP +of IN B-PP +Marilyn NNP B-NP +Monroe NNP I-NP +if IN B-SBAR +Ms. NNP B-NP +Pfeiffer NNP I-NP +had VBD B-VP +n't RB I-VP +gone VBN I-VP +and CC O +become VB B-VP +a DT B-NP +star NN I-NP +in IN B-PP +her PRP$ B-NP +own JJ I-NP +right NN I-NP +. . O + +VIDEO NN B-NP +TIP NN I-NP +: : O + +If IN B-SBAR +you PRP B-NP +'d MD B-VP +like VB I-VP +to TO I-VP +see VB I-VP +the DT B-NP +first JJ I-NP +time NN I-NP +Michelle NNP B-NP +Pfeiffer NNP I-NP +sang VBD B-VP +on IN B-PP +screen NN B-NP +, , O +and CC O +you PRP B-NP +have VBP B-VP +a DT B-NP +lot NN I-NP +of IN B-PP +patience NN B-NP +, , O +take VB B-VP +a DT B-NP +look NN I-NP +at IN B-PP +`` `` O +Grease NN B-NP +2 CD I-NP +. . O +'' '' O + +You PRP B-NP +'ll MD B-VP +find VB I-VP +her PRP$ B-NP +there RB B-ADVP +. . O + +Better NNP B-ADVP +yet RB I-ADVP +, , O +check NN B-VP +out IN B-PRT +the IN B-NP +emergence NN I-NP +of IN B-PP +her PRP$ B-NP +comic JJ I-NP +persona NN I-NP +in IN B-PP +`` `` O +Married VBN B-VP +to TO B-PP +the DT B-NP +Mob NN I-NP +, , O +'' '' O +Jonathan NNP B-NP +Demme NNP I-NP +'s POS B-NP +delightful JJ I-NP +Mafia NNP I-NP +comedy NN I-NP +. . O + +International NNP B-NP +Proteins NNPS I-NP +Corp. NNP I-NP +definitively RB B-VP +agreed VBD I-VP +to TO I-VP +pay VB I-VP +$ $ B-NP +49 CD I-NP +million CD I-NP +and CC O +2,850,000 CD B-NP +of IN B-PP +its PRP$ B-NP +shares NNS I-NP +for IN B-PP +Hanson NNP B-NP +PLC NNP I-NP +'s POS B-NP +Ground NNP I-NP +Round NNP I-NP +restaurant NN I-NP +subsidiary NN I-NP +. . O + +Shareholders NNS B-NP +of IN B-PP +International NNP B-NP +Proteins NNPS I-NP +, , O +a DT B-NP +food NN I-NP +and CC I-NP +agriproducts NNS I-NP +company NN I-NP +, , O +will MD B-VP +vote VB I-VP +on IN B-PP +the DT B-NP +transaction NN I-NP +at IN B-PP +a DT B-NP +meeting NN I-NP +late JJ B-NP +next JJ I-NP +month NN I-NP +. . O + +Hanson NNP B-NP +is VBZ B-VP +a DT B-NP +London NNP I-NP +producer NN I-NP +of IN B-PP +consumer NN B-NP +and CC I-NP +other JJ I-NP +goods NNS I-NP +. . O + +International NNP B-NP +Proteins NNPS I-NP +shares NNS I-NP +did VBD B-VP +n't RB I-VP +trade VB I-VP +yesterday NN B-NP +on IN B-PP +the DT B-NP +American NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +. . O + +They PRP B-NP +closed VBD B-VP +Tuesday NNP B-NP +in IN B-PP +composite JJ B-NP +trading NN I-NP +at IN B-PP +$ $ B-NP +13.625 CD I-NP +, , O +down RB B-ADVP +37.5 CD B-NP +cents NNS I-NP +, , O +giving VBG B-VP +the DT B-NP +stock NN I-NP +portion NN I-NP +of IN B-PP +the DT B-NP +transaction NN I-NP +an DT B-NP +indicated VBN I-NP +value NN I-NP +of IN B-PP +$ $ B-NP +38.8 CD I-NP +million CD I-NP +. . O + +Control NNP B-NP +Data NNP I-NP +Corp. NNP I-NP +agreed VBD B-VP +to TO I-VP +sell VB I-VP +its PRP$ B-NP +idle JJ I-NP +supercomputer NN I-NP +manufacturing NN I-NP +plant NN I-NP +here RB B-ADVP +to TO B-PP +Minnesota NNP B-NP +Mining NNP I-NP +& CC I-NP +Manufacturing NNP I-NP +Co. NNP I-NP +for IN B-PP +$ $ B-NP +5.8 CD I-NP +million CD I-NP +. . O + +The DT B-NP +tentative JJ I-NP +agreement NN I-NP +calls VBZ B-VP +for IN B-SBAR +3M CD B-NP +to TO B-VP +use VB I-VP +the DT B-NP +115,000-square-foot JJ I-NP +plant NN I-NP +and CC O +19 CD B-NP +acres NNS I-NP +of IN B-PP +land NN B-NP +for IN B-PP +research NN B-NP +laboratories NNS I-NP +. . O + +Control NNP B-NP +Data NNP I-NP +has VBZ B-VP +been VBN I-VP +seeking VBG I-VP +a DT B-NP +buyer NN I-NP +for IN B-PP +the DT B-NP +facility NN I-NP +since IN B-SBAR +it PRP B-NP +folded VBD B-VP +its PRP$ B-NP +ETA NNP I-NP +Systems NNP I-NP +Inc. NNP I-NP +supercomputer NN I-NP +unit NN I-NP +this DT B-NP +past JJ I-NP +April NNP I-NP +. . O + +General NNP B-NP +Dynamics NNP I-NP +Corp. NNP I-NP +was VBD B-VP +awarded VBN I-VP +contracts NNS B-NP +totaling VBG B-VP +$ $ B-NP +589 CD I-NP +million CD I-NP +for IN B-PP +one CD B-NP +Navy NNP I-NP +Trident NNP I-NP +submarine NN I-NP +and CC B-PP +for IN B-PP +Air NNP B-NP +Force NNP I-NP +research NN I-NP +on IN B-PP +the DT B-NP +National NNP I-NP +Aerospace NNP I-NP +plane NN I-NP +. . O + +Grumman NNP B-NP +Corp. NNP I-NP +won VBD B-VP +a DT B-NP +$ $ I-NP +58.9 CD I-NP +million CD I-NP +Navy NNP I-NP +contract NN I-NP +for IN B-PP +12 CD B-NP +F-14 NN I-NP +aircraft NN I-NP +. . O + +Raytheon NNP B-NP +Co. NNP I-NP +was VBD B-VP +issued VBN I-VP +a DT B-NP +$ $ I-NP +19.2 CD I-NP +million CD I-NP +Air NNP I-NP +Force NNP I-NP +contract NN I-NP +for IN B-PP +support NN B-NP +of IN B-PP +the DT B-NP +Milstar NNP I-NP +communications NNS I-NP +satellite NN I-NP +. . O + +McDonnell NNP B-NP +Douglas NNP I-NP +Corp. NNP I-NP +got VBD B-VP +a DT B-NP +$ $ I-NP +12.5 CD I-NP +million CD I-NP +Air NNP I-NP +Force NNP I-NP +contract NN I-NP +for IN B-PP +support NN B-NP +work NN I-NP +on IN B-PP +the DT B-NP +National NNP I-NP +Aerospace NNP I-NP +plane NN I-NP +. . O + +Denis NNP B-NP +C. NNP I-NP +Smith NNP I-NP +was VBD B-VP +named VBN I-VP +to TO B-PP +the DT B-NP +new JJ I-NP +post NN I-NP +of IN B-PP +vice NN B-NP +president NN I-NP +of IN B-PP +world-wide JJ B-NP +advanced VBD I-NP +materials NNS I-NP +operations NNS I-NP +for IN B-PP +this DT B-NP +chemicals NNS I-NP +concern VBP I-NP +. . O + +Mr. NNP B-NP +Smith NNP I-NP +, , O +50 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +was VBD B-VP +formerly RB B-ADVP +responsible JJ B-ADJP +for IN B-PP +advanced VBN B-NP +materials NNS I-NP +, , O +which WDT B-NP +include VBP B-VP +plastic NN B-NP +composites NNS I-NP +and CC O +alloys NNS B-NP +, , O +in IN B-PP +North NNP B-NP +America NNP I-NP +only RB B-ADVP +. . O + +Himont NNP B-NP +is VBZ B-VP +81%-owned JJ B-ADJP +by IN B-PP +Montedison NNP B-NP +S.p NNP I-NP +. . I-NP +A. NNP I-NP +of IN B-PP +Milan NNP B-NP +, , O +Italy NNP B-NP +. . O + +Galveston-Houston NNP B-NP +Co. NNP I-NP +said VBD B-VP +it PRP B-NP +will MD B-VP +redeem VB I-VP +all DT B-NP +3,950 CD I-NP +shares NNS I-NP +of IN B-PP +its PRP$ B-NP +privately RB I-NP +held VBN I-NP +6.5 CD I-NP +% NN I-NP +convertible JJ I-NP +Series NNP I-NP +C NN I-NP +preferred JJ I-NP +stock NN I-NP +Nov. NNP B-NP +8 CD I-NP +. . O + +Holders NNS B-NP +can MD B-VP +either DT I-VP +convert NN I-VP +each DT B-NP +share NN I-NP +into IN B-PP +421 CD B-NP +shares NNS I-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +common JJ I-NP +stock NN I-NP +, , O +or CC O +surrender VB B-VP +their PRP$ B-NP +shares NNS I-NP +at IN B-PP +the DT B-NP +per-share JJ I-NP +price NN I-NP +of IN B-PP +$ $ B-NP +1,000 CD I-NP +, , O +plus CC O +accumulated VBD B-NP +dividends NNS I-NP +of IN B-PP +$ $ B-NP +6.71 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Galveston-Houston NNP B-NP +makes VBZ B-VP +and CC I-VP +markets NNS I-VP +products NNS B-NP +for IN B-PP +the DT B-NP +construction NN I-NP +, , I-NP +mining NN I-NP +and CC I-NP +energy NN I-NP +industries NNS I-NP +. . O + +Bank NNP B-NP +Building NNP I-NP +& CC I-NP +Equipment NNP I-NP +Corp. NNP I-NP +of IN B-PP +America NNP B-NP +, , O +which WDT B-NP +previously RB B-ADVP +said VBD B-VP +accounting NN B-NP +discrepancies NNS I-NP +its PRP$ B-NP +auditors NNS I-NP +uncovered VBN B-VP +would MD B-VP +hurt VB I-VP +earnings NNS B-NP +and CC O +require VB B-VP +restatement NN B-NP +of IN B-PP +earlier JJR B-NP +results NNS I-NP +, , O +increased VBD B-VP +its PRP$ B-NP +projections NNS I-NP +of IN B-PP +the DT B-NP +negative JJ I-NP +fiscal JJ I-NP +impact NN I-NP +, , O +and CC O +said VBD B-VP +it PRP B-NP +was VBD B-VP +exploring VBG I-VP +the DT B-NP +company NN I-NP +'s POS B-NP +sale NN I-NP +. . O + +Bank NNP B-NP +Building NNP I-NP +, , O +which WDT B-NP +builds VBZ B-VP +and CC I-VP +equips VBZ I-VP +banks NNS B-NP +, , O +had VBN B-VP +announced VBD I-VP +it PRP B-NP +would MD B-VP +restate VB I-VP +the DT B-NP +first-three JJ I-NP +quarters NNS I-NP +of IN B-PP +this DT B-NP +fiscal JJ I-NP +year NN I-NP +, , O +which WDT B-NP +ends VBZ B-VP +Oct. NNP B-NP +31 CD I-NP +. . O + +On IN B-PP +Oct. NNP B-NP +5 NN I-NP +, , O +the DT B-NP +company NN I-NP +estimated VBD B-VP +after-tax JJ B-NP +effects NNS I-NP +on IN B-PP +the DT B-NP +year NN I-NP +'s POS B-NP +earnings NNS I-NP +would MD B-VP +be VB I-VP +`` `` B-NP +at IN I-NP +least JJS I-NP +'' '' I-NP +$ $ I-NP +1.3 CD I-NP +million CD I-NP +. . O + +Yesterday NN B-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +the DT B-NP +negative JJ I-NP +after-tax JJ I-NP +effect NN I-NP +on IN B-PP +earnings NNS B-NP +for IN B-PP +the DT B-NP +year NN I-NP +will MD B-VP +be VB I-VP +about RB B-NP +$ $ I-NP +3.3 CD I-NP +million CD I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +ended VBD B-VP +July NNP B-NP +31 CD I-NP +, , O +Bank NNP B-NP +Building NNP I-NP +had VBD B-VP +a DT B-NP +net JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +1 CD I-NP +million CD I-NP +, , O +on IN B-PP +revenue NN B-NP +of IN B-PP +$ $ B-NP +66.5 CD I-NP +million CD I-NP +. . O + +Bank NNP B-NP +Building NNP I-NP +, , O +which WDT B-NP +expects VBZ B-VP +to TO I-VP +report VB I-VP +a DT B-NP +fourth-quarter JJ I-NP +loss NN I-NP +, , O +said VBD B-VP +it PRP B-NP +engaged VBD B-VP +advisers NNS B-NP +to TO B-VP +`` `` O +explore VB B-VP +financial JJ B-NP +alternatives NNS I-NP +for IN B-PP +the DT B-NP +company NN I-NP +including VBG B-PP +the DT B-NP +possible JJ I-NP +sale NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +or CC O +one CD B-NP +or CC I-NP +more JJR I-NP +of IN B-PP +its PRP$ B-NP +units NNS I-NP +. . O +'' '' O + +Company NN B-NP +auditors NNS I-NP +are VBP B-VP +continuing VBG I-VP +their PRP$ B-NP +review NN I-NP +, , O +and CC O +final JJ B-NP +restated VBN I-NP +figures NNS I-NP +are VBP B-VP +n't RB O +yet RB B-ADVP +available JJ B-ADJP +. . O + +Bank NNP B-NP +Building NNP I-NP +earlier RBR B-ADVP +said VBD B-VP +the DT B-NP +restatement NN I-NP +is VBZ B-VP +necessitated VBN I-VP +by IN B-PP +`` `` O +certain JJ B-NP +errors NNS I-NP +in IN B-PP +recording NN B-VP +receivables NN B-NP +and CC I-NP +payables NNS I-NP +'' '' O +at IN B-PP +its PRP$ B-NP +Loughman NNP I-NP +Cabinet NNP I-NP +division NN I-NP +. . O + +That DT B-NP +division NN I-NP +'s POS B-NP +manager NN I-NP +has VBZ B-VP +been VBN I-VP +fired VBN I-VP +. . O + +In IN B-PP +American NNP B-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +, , O +Bank NNP B-NP +Building NNP I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +4 CD I-NP +a DT B-NP +share NN I-NP +, , O +down RB B-ADVP +62.5 CD B-NP +cents NNS I-NP +. . O + +Gen. NNP B-NP +Paul NNP I-NP +X. NNP I-NP +Kelley NNP I-NP +, , O +retired VBN B-NP +commandant NN I-NP +of IN B-PP +the DT B-NP +U.S. NNP I-NP +Marine NNP I-NP +Corps NNP I-NP +, , O +was VBD B-VP +elected VBN I-VP +a DT B-NP +director NN I-NP +of IN B-PP +this DT B-NP +plastics NNS I-NP +, , I-NP +specialty NN I-NP +materials NNS I-NP +and CC I-NP +aerospace NN I-NP +concern NN I-NP +, , O +succeeding VBG B-VP +Jewel NNP B-NP +Lafontant NNP I-NP +, , O +who WP B-NP +resigned VBD B-VP +to TO B-VP +accept VB I-VP +a DT B-NP +government NN I-NP +position NN I-NP +. . O + +Rep. NNP B-NP +Mary NNP I-NP +Rose NNP I-NP +Oakar NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Ohio NNP B-NP +-RRB- ) O +at IN B-PP +last JJ B-NP +week NN I-NP +'s POS B-NP +hearings NNS I-NP +on IN B-PP +irregularities NNS B-NP +in IN B-PP +programs NNS B-NP +at IN B-PP +the DT B-NP +Department NNP I-NP +of IN B-PP +Housing NNP B-NP +and CC I-NP +Urban NNP I-NP +Development NNP I-NP +: : O + +I PRP B-NP +do VBP B-VP +n't RB I-VP +want VB I-VP +to TO I-VP +feel VB I-VP +guilty JJ B-ADJP +representing VBG B-VP +my PRP$ B-NP +constituents NNS I-NP +. . O + +And CC O +if IN B-SBAR +I PRP B-NP +think VBP B-VP +that IN B-SBAR +some DT B-NP +people NNS I-NP +-LCB- ( O +on IN B-PP +HUD NNP B-NP +Secretary NNP I-NP +Jack NNP I-NP +Kemp NNP I-NP +'s POS B-NP +-RCB- ) I-NP +staff NN I-NP +are VBP B-VP +off IN B-ADJP +base NN I-ADJP +in IN B-PP +terms NNS B-NP +in IN B-PP +which WDT B-NP +they PRP B-NP +'re VBP B-VP +evaluating VBG I-VP +certain JJ B-NP +things NNS I-NP +affecting VBG B-VP +my PRP$ B-NP +hometown NN I-NP +, , O +I PRP B-NP +have VBP B-VP +to TO I-VP +tell VB I-VP +you PRP B-NP +something NN B-NP +-- : O +I PRP B-NP +'m VBP B-VP +not RB I-VP +going VBG I-VP +to TO I-VP +take VB I-VP +it PRP B-NP +. . O + +I PRP B-NP +think VBP B-VP +that IN B-SBAR +I PRP B-NP +'m VBP B-VP +elected VBN I-VP +to TO B-VP +represent VB I-VP +the DT B-NP +people NNS I-NP +that WDT B-NP +sent VBD B-VP +me PRP B-NP +here RB B-ADVP +. . O + +And CC O +one CD B-NP +of IN B-PP +our PRP$ B-NP +charges NNS I-NP +is VBZ B-VP +to TO B-VP +be VB I-VP +an DT B-NP +ombudsman NN I-NP +for IN B-PP +our PRP$ B-NP +area NN I-NP +. . O + +And CC O +if IN B-SBAR +we PRP B-NP +'re VBP B-VP +not RB O +ombudsman NN B-NP +for IN B-PP +our PRP$ B-NP +area NN I-NP +, , O +we PRP B-NP +ought MD B-VP +to TO I-VP +be VB I-VP +thrown VBN I-VP +out IN B-ADVP +of IN B-PP +office NN B-NP +. . O + +On IN B-PP +the DT B-NP +other JJ I-NP +hand NN I-NP +, , O +if IN B-SBAR +we PRP B-NP +'re VBP B-VP +asking VBG I-VP +for IN B-PP +something NN B-NP +unreasonable JJ B-ADJP +or CC O +unethical JJ B-ADJP +and CC O +so RB B-ADVP +on IN I-ADVP +, , O +then RB B-ADVP +that DT B-NP +'s VBZ B-VP +a DT B-NP +whole JJ I-NP +different JJ I-NP +story NN I-NP +. . O + +But CC O +if IN B-SBAR +I PRP B-NP +feel VBP B-VP +that IN B-SBAR +there EX B-NP +are VBP B-VP +situations NNS B-NP +where WRB B-ADVP +I PRP B-NP +'m VBP B-VP +trying VBG I-VP +to TO I-VP +get VB I-VP +housing NN B-NP +for IN B-PP +our PRP$ B-NP +area NN I-NP +-- : O +whatever WDT B-NP +it PRP B-NP +happens VBZ B-VP +to TO I-VP +be VB I-VP +-- : O +and CC O +I PRP B-NP +have VBP B-VP +to TO I-VP +feel VB I-VP +that IN B-SBAR +I PRP B-NP +ca MD B-VP +n't RB I-VP +even RB I-VP +ask VB I-VP +a DT B-NP +question NN I-NP +, , O +I PRP B-NP +'ve VBP B-VP +got VBD I-VP +to TO I-VP +tell VB I-VP +you PRP B-NP +, , O +I PRP B-NP +think VBP B-VP +that DT B-NP +'s VBZ B-VP +outrageous JJ B-ADJP +. . O +. . O + +I PRP B-NP +think VBP B-VP +these DT B-NP +regulations NNS I-NP +that WDT B-NP +would MD B-VP +prohibit VB I-VP +well-operated JJ B-NP +programs NNS I-NP +in IN B-PP +areas NNS B-NP +across IN B-PP +this DT B-NP +country NN I-NP +would MD B-VP +be VB I-VP +wrong JJ B-ADJP +to TO B-VP +change VB I-VP +... : O +. . O + +I PRP B-NP +do VBP B-VP +n't RB I-VP +want VB I-VP +to TO I-VP +see VB I-VP +some DT B-NP +guidelines NNS I-NP +change VBP I-NP +that DT B-NP +'s VBZ B-VP +going VBG I-VP +to TO I-VP +inhibit VB I-VP +my PRP$ B-NP +city NN I-NP +'s POS B-NP +opportunity NN I-NP +to TO B-VP +use VB I-VP +its PRP$ B-NP +money NN I-NP +. . O + +The DT B-NP +Chicago NNP I-NP +Mercantile NNP I-NP +Exchange NNP I-NP +said VBD B-VP +it PRP B-NP +fined VBD B-VP +Capcom NNP B-NP +Futures NNP I-NP +Inc. NNP I-NP +$ $ B-NP +500,000 CD I-NP +and CC O +accepted VBN B-VP +its PRP$ B-NP +withdrawal NN I-NP +from IN B-PP +membership NN B-NP +as IN B-PP +part NN B-NP +of IN B-PP +a DT B-NP +settlement NN I-NP +of IN B-PP +disciplinary JJ B-NP +actions NNS I-NP +against IN B-PP +the DT B-NP +firm NN I-NP +. . O + +Capcom NNP B-NP +Futures NNS I-NP +is VBZ B-VP +a DT B-NP +Chicago NNP I-NP +subsidiary NN I-NP +of IN B-PP +Capcom NNP B-NP +Financial NNP I-NP +Services NNP I-NP +Ltd. NNP I-NP +, , O +a DT B-NP +London NNP I-NP +financial JJ I-NP +firm NN I-NP +that WDT B-NP +was VBD B-VP +implicated VBN I-VP +last JJ B-NP +year NN I-NP +in IN B-PP +a DT B-NP +scheme NN I-NP +to TO B-VP +launder VB I-VP +drug NN B-NP +money NN I-NP +. . O + +The DT B-NP +case NN I-NP +is VBZ B-VP +pending VBG B-ADJP +. . O + +The DT B-NP +firm NN I-NP +was VBD B-VP +indicted VBN I-VP +in IN B-PP +Tampa NNP B-NP +, , O +Fla. NNP B-NP +, , O +on IN B-PP +money-laundering NN B-NP +charges NNS I-NP +. . O + +In IN B-PP +June NNP B-NP +, , O +the DT B-NP +Chicago NNP I-NP +Board NNP I-NP +of IN B-PP +Trade NNP B-NP +said VBD B-VP +it PRP B-NP +suspended VBD B-VP +Capcom NNP B-NP +Financial NNP I-NP +. . O + +The DT B-NP +Capcom NNP I-NP +Futures NNS I-NP +unit NN I-NP +withdrew VBD B-VP +from IN B-PP +Board NNP O +of IN B-PP +Trade NNP B-NP +membership NN B-NP +voluntarily RB B-ADVP +in IN B-PP +August NNP B-NP +, , O +a DT O +Board NNP O +of IN B-PP +Trade NNP B-NP +spokesman NN B-NP +said VBD B-VP +. . O + +Capcom NNP B-NP +Futures NNS I-NP +, , O +while IN B-SBAR +neither DT B-VP +admitting VBG I-VP +nor CC I-VP +denying VBG I-VP +the DT B-NP +Merc NNP I-NP +charges NNS I-NP +, , O +said VBD B-VP +in IN B-PP +a DT B-NP +statement NN I-NP +that IN B-SBAR +the DT B-NP +Merc NNP I-NP +charges NNS I-NP +were VBD B-VP +`` `` O +technical JJ B-ADJP +in IN B-PP +nature NN B-NP +'' '' O +and CC O +that IN B-SBAR +`` `` O +no DT B-NP +customers NNS I-NP +were VBD B-VP +hurt VBN I-VP +'' '' O +as IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +the DT B-NP +violations NNS I-NP +cited VBN B-VP +by IN B-PP +the DT B-NP +Merc NNP I-NP +. . O + +The DT B-NP +Merc NNP I-NP +alleged VBD B-VP +that IN B-SBAR +, , O +among IN B-PP +other JJ B-NP +things NNS I-NP +, , O +from IN B-PP +April NNP B-NP +1987 CD I-NP +through IN B-PP +October NNP B-NP +1988 CD I-NP +Capcom NNP B-NP +Futures NNS I-NP +failed VBD B-VP +to TO I-VP +document VB I-VP +trades NNS B-NP +between IN B-PP +Capcom NNP B-NP +Futures NNS I-NP +and CC O +people NNS B-NP +or CC I-NP +entities NNS I-NP +directly RB B-VP +or CC I-VP +indirectly RB I-VP +controlled VBN I-VP +by IN B-PP +Capcom NNP B-NP +Futures NNS I-NP +shareholders NNS I-NP +. . O + +Frederick NNP B-NP +W. NNP I-NP +Lang NNP I-NP +, , O +65 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +the DT B-NP +founder NN I-NP +of IN B-PP +this DT B-NP +software NN I-NP +services NNS I-NP +concern VBP I-NP +, , O +was VBD B-VP +elected VBN I-VP +to TO B-PP +the DT B-NP +new JJ I-NP +post NN I-NP +of IN B-PP +chairman NN B-NP +. . O + +Formerly RB B-ADVP +president NN B-NP +and CC I-NP +treasurer NN I-NP +, , O +Mr. NNP B-NP +Lang NNP I-NP +remains VBZ B-VP +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +. . O + +Victor NNP B-NP +C. NNP I-NP +Benda NNP I-NP +, , O +58 CD B-NP +, , O +formerly RB B-ADVP +executive JJ B-NP +vice NN I-NP +president NN I-NP +, , O +succeeds VBZ B-VP +Mr. NNP B-NP +Lang NNP I-NP +as IN B-PP +president NN B-NP +and CC O +becomes VBZ B-VP +chief JJ B-NP +operating VBG I-NP +officer NN I-NP +, , O +a DT B-NP +new JJ I-NP +post NN I-NP +. . O + +Maurice NNP B-NP +Warren NNP I-NP +, , O +56-year-old JJ B-NP +group NN I-NP +managing VBG I-NP +director NN I-NP +, , O +was VBD B-VP +named VBN I-VP +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +this DT B-NP +food NN I-NP +and CC I-NP +agriculture NN I-NP +group NN I-NP +. . O + +The DT B-NP +post NN I-NP +of IN B-PP +chief JJ B-NP +executive NN I-NP +has VBZ B-VP +been VBN I-VP +vacant JJ B-ADJP +since IN B-PP +July NNP B-NP +when WRB B-ADVP +Terry NNP B-NP +Pryce NNP I-NP +, , O +55 NN B-NP +, , O +left VBD B-VP +the DT B-NP +company NN I-NP +. . O + +Money-market NN B-NP +mutual JJ I-NP +fund NN I-NP +assets NNS I-NP +grew VBD B-VP +at IN B-PP +nearly RB B-NP +three CD I-NP +times NNS I-NP +their PRP$ I-NP +usual JJ I-NP +rate NN I-NP +in IN B-PP +the DT B-NP +latest JJS I-NP +week NN I-NP +, , O +as IN B-SBAR +investors NNS B-NP +opted VBD B-VP +for IN B-PP +safety NN B-NP +instead RB B-CONJP +of IN I-CONJP +the DT B-NP +stock NN I-NP +market NN I-NP +. . O + +Money-fund JJ B-NP +assets NNS I-NP +soared VBD B-VP +$ $ B-NP +4.5 CD I-NP +billion CD I-NP +in IN B-PP +the DT B-NP +week NN I-NP +ended VBN B-VP +Tuesday NNP B-NP +, , O +to TO B-PP +a DT B-NP +record NN I-NP +$ $ I-NP +348.4 CD I-NP +billion CD I-NP +, , O +according VBG B-PP +to TO B-PP +IBC\/Donoghue NN B-NP +'s POS B-NP +Money NNP I-NP +Fund NNP I-NP +Report NNP I-NP +, , O +a DT B-NP +Holliston NNP I-NP +, , I-NP +Mass.-based JJ I-NP +newsletter NN I-NP +. . O + +`` `` O +We PRP B-NP +were VBD B-VP +expecting VBG I-VP +it PRP B-NP +, , O +following VBG B-PP +the DT B-NP +fall NN I-NP +of IN B-PP +the DT B-NP +Dow NNP I-NP +Friday NNP B-NP +, , O +'' '' O +said VBD B-VP +Brenda NNP B-NP +Malizia NNP I-NP +Negus NNP I-NP +, , O +editor NN B-NP +of IN B-PP +Money NNP B-NP +Fund NNP I-NP +Report NNP I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +the DT B-NP +proverbial JJ I-NP +flight NN I-NP +to TO B-PP +safety VB B-NP +. . O +'' '' O + +Despite IN B-PP +recent JJ B-NP +declines NNS I-NP +in IN B-PP +interest NN B-NP +rates NNS I-NP +, , O +money NN B-NP +funds NNS I-NP +continue VBP B-VP +to TO I-VP +offer VB I-VP +better JJR B-NP +yields NNS I-NP +than IN B-PP +other JJ B-NP +comparable JJ I-NP +investments NNS I-NP +. . O + +The DT B-NP +average JJ I-NP +seven-day JJ I-NP +compound NN I-NP +yield NN I-NP +on IN B-PP +the DT B-NP +400 CD I-NP +taxable JJ I-NP +funds NNS I-NP +tracked VBN B-VP +by IN B-PP +IBC\/Donoghue NN B-NP +'s POS B-NP +was VBD B-VP +8.55 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +latest JJS I-NP +week NN I-NP +, , O +down RB B-ADVP +from IN B-PP +8.60 CD B-NP +% NN I-NP +. . O + +Compound JJ B-NP +yields NNS I-NP +assume VBP B-VP +reinvestment NN B-NP +of IN B-PP +dividends NNS B-NP +and CC O +that IN B-SBAR +current JJ B-NP +yields NNS I-NP +continue VBP B-VP +for IN B-PP +a DT B-NP +year NN I-NP +. . O + +Most JJS B-NP +short-term JJ I-NP +certificates NNS I-NP +of IN B-PP +deposit NN B-NP +are VBP B-VP +yielding VBG I-VP +about IN B-NP +8 CD I-NP +% NN I-NP +or CC I-NP +less JJR I-NP +at IN B-PP +major JJ B-NP +banks NNS I-NP +, , O +and CC O +the DT B-NP +yields NNS I-NP +on IN B-PP +Treasury NNP B-NP +bills NNS I-NP +sold VBN B-VP +at IN B-PP +Monday NNP B-NP +'s POS B-NP +auction NN I-NP +fell VBD B-VP +to TO B-PP +7.61 CD B-NP +% NN I-NP +for IN B-PP +three CD B-NP +months NNS I-NP +and CC O +7.82 CD B-NP +% NN I-NP +for IN B-PP +six CD B-NP +months NNS I-NP +. . O + +Money-fund JJ B-NP +assets NNS I-NP +have VBP B-VP +been VBN I-VP +rising VBG I-VP +at IN B-PP +an DT B-NP +average JJ I-NP +rate NN I-NP +of IN B-PP +$ $ B-NP +1.6 CD I-NP +billion CD I-NP +a DT B-NP +week NN I-NP +in IN B-PP +recent JJ B-NP +months NNS I-NP +, , O +Ms. NNP B-NP +Negus NNP I-NP +said VBD B-VP +, , O +reflecting VBG B-VP +the DT B-NP +relatively RB I-NP +high JJ I-NP +yields NNS I-NP +. . O + +In IN B-PP +the DT B-NP +latest JJS I-NP +week NN I-NP +, , O +funds NNS B-NP +open JJ B-ADJP +to TO B-PP +institutions NNS B-NP +alone RB B-ADVP +grew VBN B-VP +by IN B-PP +$ $ B-NP +1.8 CD I-NP +billion CD I-NP +. . O + +Some DT B-NP +fund NN I-NP +managers NNS I-NP +say VBP B-VP +inflows NNS B-NP +could MD B-VP +increase VB I-VP +in IN B-PP +coming VBG B-NP +days NNS I-NP +as IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +stock NN B-NP +selling VBG I-NP +in IN B-PP +the DT B-NP +wake NN I-NP +of IN B-PP +Friday NNP B-NP +'s POS B-NP +190.58 CD B-ADJP +point NN I-ADJP +drop NN B-NP +in IN B-PP +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +. . O + +`` `` O +If IN B-SBAR +you PRP B-NP +'re VBP B-VP +selling VBG I-VP +equities NNS B-NP +, , O +you PRP B-NP +do VBP B-VP +n't RB I-VP +start VB I-VP +getting VBG I-VP +proceeds NNS B-NP +for IN B-PP +five CD B-NP +to TO I-NP +seven CD I-NP +days NNS I-NP +, , O +'' '' O +said VBD B-VP +Frank NNP B-NP +Rachwalski NNP I-NP +, , O +who WP B-NP +manages VBZ B-VP +the DT B-NP +Kemper NNP I-NP +Money NNP I-NP +Market NNP I-NP +Fund NNP I-NP +. . O + +Neal NNP B-NP +Litvack NNP I-NP +, , O +marketing NN B-NP +vice NN I-NP +president NN I-NP +for IN B-PP +Fidelity NNP B-NP +Investments NNPS I-NP +, , O +said VBD B-VP +inflows NNS B-NP +Friday NNP B-NP +into IN B-PP +Fidelity NNP B-NP +'s POS B-NP +Spartan NNP I-NP +and CC I-NP +Cash NNP I-NP +Reserves NNS I-NP +money-market JJ I-NP +funds NNS I-NP +were VBD B-VP +about IN B-NP +twice RB I-NP +normal JJ I-NP +levels NNS I-NP +, , O +with IN B-PP +about IN B-NP +half NN I-NP +coming VBG B-VP +from IN B-PP +equity NN B-NP +and CC I-NP +junk-bond NN I-NP +funds NNS I-NP +. . O + +Monday NNP B-NP +and CC I-NP +Tuesday NNP I-NP +`` `` O +were VBD B-VP +lackluster JJ B-ADJP +in IN B-PP +comparison NN B-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +`` `` O +People NNS B-NP +are VBP B-VP +n't RB I-VP +necessarily RB I-VP +running VBG I-VP +scared VBN B-ADJP +, , O +'' '' O +Mr. NNP B-NP +Litvack NNP I-NP +said VBD B-VP +. . O + +`` `` O +They PRP B-NP +'re VBP B-VP +maintaining VBG I-VP +their PRP$ B-NP +attitude NN I-NP +toward IN B-PP +investing VBG B-NP +, , O +which WDT B-NP +has VBZ B-VP +leaned VBN I-VP +toward IN B-PP +the DT B-NP +conservative JJ I-NP +recently RB B-ADVP +. . O +'' '' O + +Money-fund JJ B-NP +yields NNS I-NP +tend VBP B-VP +to TO I-VP +lag VB I-VP +interestrate NN B-NP +trends NNS I-NP +as IN B-SBAR +portfolio NN B-NP +managers NNS I-NP +adjust VBP B-VP +the DT B-NP +maturities NNS I-NP +of IN B-PP +their PRP$ B-NP +investments NNS I-NP +-- : O +short-term NNP B-NP +Treasury NNP I-NP +securities NNS I-NP +, , O +commercial JJ B-NP +paper NN I-NP +and CC O +the DT B-NP +like NN I-NP +-- : O +to TO B-VP +capture VB I-VP +the DT B-NP +highest JJS I-NP +yields NNS I-NP +. . O + +Maturities NNS B-NP +usually RB B-ADVP +are VBP B-VP +shorter JJR B-ADJP +when WRB B-ADVP +rates NNS B-NP +are VBP B-VP +rising VBG I-VP +and CC O +longer RB B-ADJP +when WRB B-ADVP +they PRP B-NP +are VBP B-VP +falling VBG I-VP +. . O + +The DT B-NP +average JJ I-NP +maturity NN I-NP +of IN B-PP +the DT B-NP +funds NNS I-NP +tracked VBN B-VP +by IN B-PP +IBC\/Donoghue NN B-NP +'s POS B-NP +remained VBD B-VP +at IN B-PP +38 CD B-NP +days NNS I-NP +for IN B-PP +the DT B-NP +third JJ I-NP +consecutive JJ I-NP +week NN I-NP +. . O + +It PRP B-NP +was VBD B-VP +as RB B-ADJP +short JJ I-ADJP +as IN B-PP +29 CD B-NP +days NNS I-NP +at IN B-PP +the DT B-NP +start NN I-NP +of IN B-PP +this DT B-NP +year NN I-NP +, , O +when WRB B-ADVP +rates NNS B-NP +were VBD B-VP +marching VBG I-VP +steadily RB B-ADVP +upward RB B-ADVP +, , O +and CC O +hit VBD B-VP +42 CD B-NP +days NNS I-NP +in IN B-PP +August NNP B-NP +. . O + +The DT B-NP +average JJ I-NP +seven-day JJ I-NP +simple JJ I-NP +yield NN I-NP +of IN B-PP +the DT B-NP +funds NNS I-NP +fell VBD B-VP +to TO B-PP +8.21 CD B-NP +% NN I-NP +this DT B-NP +week NN I-NP +from IN B-PP +8.26 CD B-NP +% NN I-NP +. . O + +The DT B-NP +average JJ I-NP +30-day JJ I-NP +simple JJ I-NP +yield NN I-NP +was VBD B-VP +8.26 CD B-NP +% NN I-NP +, , O +compared VBN B-PP +with IN B-PP +8.27 CD B-NP +% NN I-NP +the DT B-NP +week NN I-NP +before RB I-NP +, , O +and CC O +the DT B-NP +30-day JJ I-NP +compound NN I-NP +yield NN I-NP +slid VBD B-VP +to TO B-PP +8.60 CD B-NP +% NN I-NP +from IN B-PP +8.61 CD B-NP +% NN I-NP +. . O + +Some DT B-NP +funds NNS I-NP +are VBP B-VP +posting VBG I-VP +yields NNS B-NP +far RB B-ADJP +higher JJR I-ADJP +than IN B-PP +the DT B-NP +average NN I-NP +. . O + +The DT B-NP +highest JJS I-NP +yielding VBG I-NP +taxable JJ I-NP +fund NN I-NP +this DT B-NP +week NN I-NP +was VBD B-VP +Harbor NNP B-NP +Money NNP I-NP +Market NNP I-NP +Fund NNP I-NP +, , O +with IN B-PP +a DT B-NP +seven-day JJ I-NP +compound NN I-NP +yield NN I-NP +of IN B-PP +12.75 CD B-NP +% NN I-NP +. . O + +That DT B-NP +included VBN B-VP +capital NN B-NP +gains NNS I-NP +that WDT B-NP +were VBD B-VP +passed VBN I-VP +along IN B-ADVP +to TO B-PP +customers NNS B-NP +. . O + +Among IN B-PP +the DT B-NP +other JJ I-NP +high-yielding JJ I-NP +funds NNS I-NP +, , O +Fidelity NNP B-NP +'s POS B-NP +Spartan NNP I-NP +Fund NNP I-NP +had VBD B-VP +a DT B-NP +seven-day JJ I-NP +compound NN I-NP +yield NN I-NP +of IN B-PP +9.33 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +latest JJS I-NP +week NN I-NP +. . O + +The DT B-NP +seven-day JJ I-NP +compound NN I-NP +yield NN I-NP +of IN B-PP +the DT B-NP +Dreyfus NNP I-NP +Worldwide NNP I-NP +Dollar NNP I-NP +Fund NNP I-NP +was VBD B-VP +9.51 CD B-NP +% NN I-NP +. . O + +whose WP$ B-NP +Della NNP I-NP +Femina NNP I-NP +McNamee NNP I-NP +WCRS NNP I-NP +agency NN I-NP +created VBD B-VP +liar NN B-NP +Joe NNP I-NP +Isuzu NNP I-NP +, , O +among IN B-PP +others NNS B-NP +-- : O +announced VBD B-VP +a DT B-NP +massive JJ I-NP +restructuring NN I-NP +that WDT B-NP +largely RB B-VP +removes VBZ I-VP +it PRP B-NP +from IN B-PP +the DT B-NP +advertising NN I-NP +business NN I-NP +and CC O +includes VBZ B-VP +selling VBG I-VP +the DT B-NP +majority NN I-NP +of IN B-PP +its PRP$ B-NP +advertising NN I-NP +unit NN I-NP +to TO B-PP +Paris-based JJ B-NP +Eurocom NNP I-NP +. . O + +The DT B-NP +complex JJ I-NP +restructuring NN I-NP +, , O +which WDT B-NP +was VBD B-VP +long RB I-VP +expected VBN I-VP +, , O +transforms VBZ B-VP +London-based NNP B-NP +WCRS NNP I-NP +from IN B-PP +primarily RB B-NP +a DT I-NP +creator NN I-NP +of IN B-PP +advertising NN B-NP +into IN B-PP +one CD B-NP +of IN B-PP +Europe NNP B-NP +'s POS B-NP +largest JJS I-NP +buyers NNS I-NP +of IN B-PP +advertising NN B-NP +time NN I-NP +and CC I-NP +space NN I-NP +. . O + +It PRP B-NP +also RB B-ADVP +creates VBZ B-VP +a DT B-NP +newly RB I-NP +merged VBN I-NP +world-wide JJ I-NP +ad NN I-NP +agency NN I-NP +controlled VBN B-VP +by IN B-PP +Eurocom NNP B-NP +and CC O +headed VBN B-VP +jointly RB B-ADVP +by IN B-PP +New NNP B-NP +York NNP I-NP +ad NN I-NP +man NN I-NP +Jerry NNP I-NP +Della NNP I-NP +Femina NNP I-NP +and CC O +two CD B-NP +top JJ I-NP +WCRS NNP I-NP +executives NNS I-NP +. . O + +The DT B-NP +merged VBN I-NP +agency NN I-NP +'s POS I-NP +admittedly RB B-ADJP +ambitious JJ I-ADJP +goal NN B-NP +: : O +to TO B-VP +become VB I-VP +one CD B-NP +of IN B-PP +the DT B-NP +world NN I-NP +'s POS B-NP +10 CD I-NP +largest JJS I-NP +agencies NNS I-NP +, , O +while IN B-SBAR +attracting VBG B-VP +more RBR B-NP +multinational JJ I-NP +clients NNS I-NP +than IN B-PP +the DT B-NP +agencies NNS I-NP +were VBD B-VP +able JJ B-ADJP +to TO B-VP +attract VB I-VP +alone RB B-ADVP +. . O + +WCRS NNP B-NP +'s POS B-NP +restructuring NN I-NP +reflects VBZ B-VP +the DT B-NP +growing VBG I-NP +importance NN I-NP +of IN B-PP +media NNS B-NP +buying VBG I-NP +in IN B-PP +Europe NNP B-NP +, , O +where WRB B-ADVP +the DT B-NP +only JJ I-NP +way NN I-NP +to TO B-VP +get VB I-VP +a DT B-NP +good JJ I-NP +price NN I-NP +on IN B-PP +advertising NN B-NP +time NN I-NP +and CC I-NP +space NN I-NP +is VBZ B-VP +to TO B-VP +buy VB I-VP +it PRP B-NP +in IN B-PP +bulk NN B-NP +. . O + +For IN B-PP +Eurocom NNP B-NP +, , O +meanwhile RB B-ADVP +, , O +the DT B-NP +move NN I-NP +gives VBZ B-VP +it PRP B-NP +a DT B-NP +strong JJ I-NP +U.S. NNP I-NP +foothold NN I-NP +in IN B-PP +Della NNP B-NP +Femina NNP I-NP +, , O +and CC O +more JJR B-VP +than IN I-VP +quadruples VBZ I-VP +the DT B-NP +size NN I-NP +of IN B-PP +its PRP$ B-NP +ad NN I-NP +agency NN I-NP +business NN I-NP +world-wide JJ B-ADVP +. . O + +It PRP B-NP +also RB B-ADVP +gives VBZ B-VP +the DT B-NP +outspoken JJ I-NP +Mr. NNP I-NP +Della NNP I-NP +Femina NNP I-NP +-- : O +who WP B-NP +often RB B-ADVP +generates VBZ B-VP +as IN B-NP +much JJ I-NP +publicity NN I-NP +for IN B-PP +himself PRP B-NP +as IN B-PP +for IN B-PP +his PRP$ B-NP +clients NNS I-NP +-- : O +an DT B-NP +international JJ I-NP +platform NN I-NP +that IN B-NP +he PRP B-NP +most RBS B-ADVP +certainly RB I-ADVP +wo MD B-VP +n't RB I-VP +be VB I-VP +loath JJ B-ADJP +to TO B-VP +use VB I-VP +. . O + +According VBG B-PP +to TO B-PP +terms NNS B-NP +, , O +WCRS NNP B-NP +will MD B-VP +pay VB I-VP +2.02 CD B-NP +billion CD I-NP +French JJ I-NP +francs NNS I-NP +-LRB- ( O +$ $ B-NP +318.6 CD I-NP +million CD I-NP +-RRB- ) O +for IN B-PP +the DT B-NP +50 CD I-NP +% NN I-NP +it PRP B-NP +does VBZ B-VP +n't RB I-VP +already RB I-VP +own JJ I-VP +of IN B-PP +Carat NNP B-NP +Holding NNP I-NP +S.A. NNP I-NP +, , O +one CD B-NP +of IN B-PP +Europe NNP B-NP +'s POS B-NP +largest JJS I-NP +media NNS I-NP +buyers NNS I-NP +. . O + +Meanwhile RB B-ADVP +, , O +Eurocom NNP B-NP +, , O +which WDT B-NP +had VBD B-VP +held VBN I-VP +20 CD B-NP +% NN I-NP +of IN B-PP +WCRS NNP B-NP +'s POS B-NP +ad NN I-NP +unit NN I-NP +, , O +will MD B-VP +pay VB I-VP +# # B-NP +43.5 CD I-NP +million CD I-NP +-LRB- ( O +$ $ B-NP +68.5 CD I-NP +million CD I-NP +-RRB- ) O +to TO B-VP +raise VB I-VP +its PRP$ B-NP +stake NN I-NP +to TO B-PP +60 CD B-NP +% NN I-NP +. . O + +That DT B-NP +price NN I-NP +also RB B-ADVP +covers VBZ B-VP +Eurocom NNP B-NP +raising VBG B-VP +to TO B-PP +60 CD B-NP +% VB I-NP +its PRP$ B-NP +51 CD I-NP +% NN I-NP +stake NN I-NP +in IN B-PP +Europe NNP B-NP +'s POS B-NP +Belier NNP I-NP +Group NNP I-NP +, , O +a DT B-NP +joint JJ I-NP +venture NN I-NP +ad NN I-NP +agency NN I-NP +network NN I-NP +it PRP B-NP +owns VBZ B-VP +with IN B-PP +WCRS NNP B-NP +. . O + +Eurocom NNP B-NP +will MD B-VP +also RB I-VP +have VB I-VP +the DT B-NP +right NN I-NP +to TO B-VP +buy VB I-VP +the DT B-NP +remaining VBG I-NP +40 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +merged VBN I-NP +ad NN I-NP +agency NN I-NP +group NN I-NP +in IN B-PP +six CD B-NP +years NNS I-NP +. . O + +The DT B-NP +transaction NN I-NP +places VBZ B-VP +the DT B-NP +three CD I-NP +executives NNS I-NP +squarely RB B-ADVP +at IN B-PP +the DT B-NP +helm NN I-NP +of IN B-PP +a DT B-NP +major JJ I-NP +agency NN I-NP +with IN B-PP +the DT B-NP +rather RB I-NP +unwieldy JJ I-NP +name NN I-NP +of IN B-PP +Eurocom NNP B-NP +WCRS NNP I-NP +Della NNP I-NP +Femina NNP I-NP +Ball NNP I-NP +Ltd. NNP I-NP +, , O +or CC O +EWDB NNP B-NP +. . O + +The DT B-NP +merged VBN I-NP +agency NN I-NP +will MD B-VP +include VB I-VP +Della NNP B-NP +Femina NNP I-NP +McNamee NNP I-NP +based VBD B-VP +in IN B-PP +New NNP B-NP +York NNP I-NP +, , O +Eurocom NNP B-NP +'s POS B-NP +various JJ I-NP +agencies NNS I-NP +in IN B-PP +France NNP B-NP +, , O +the DT B-NP +Belier NNP I-NP +Group NNP I-NP +in IN B-PP +Europe NNP B-NP +and CC O +WCRS NNP B-NP +'s POS B-NP +other JJ I-NP +advertising NN I-NP +and CC I-NP +direct JJ I-NP +marketing NN I-NP +operations NNS I-NP +. . O + +Mr. NNP B-NP +Della NNP I-NP +Femina NNP I-NP +will MD B-VP +be VB I-VP +joint JJ B-NP +chairman NN I-NP +with IN B-PP +former JJ B-NP +WCRS NNP I-NP +executive NN I-NP +Robin NNP I-NP +Wight NNP I-NP +. . O + +Both DT B-NP +will MD B-VP +report VB I-VP +to TO B-PP +Tim NNP B-NP +Breene NNP I-NP +, , O +a DT B-NP +former JJ I-NP +WCRS NNP I-NP +executive NN I-NP +who WP B-NP +will MD B-VP +be VB I-VP +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +at IN B-PP +the DT B-NP +new JJ I-NP +agency NN I-NP +. . O + +In IN B-PP +an DT B-NP +interview NN I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +, , O +Mr. NNP B-NP +Breene NNP I-NP +, , O +fresh JJ B-ADJP +from IN B-PP +a DT B-NP +Concorde NNP I-NP +flight NN I-NP +from IN B-PP +Paris NNP B-NP +where WRB B-ADVP +executives NNS B-NP +had VBD B-VP +worked VBN I-VP +through IN B-PP +most RBS B-NP +of IN B-PP +the DT B-NP +night NN I-NP +, , O +outlined VBN B-VP +big JJ B-NP +plans NNS I-NP +for IN B-PP +the DT B-NP +new JJ I-NP +agency NN I-NP +. . O + +`` `` O +Our PRP$ B-NP +goal NN I-NP +is VBZ B-VP +to TO B-VP +develop VB I-VP +quite RB B-ADVP +rapidly RB I-ADVP +to TO B-PP +a DT B-NP +top-10 JJ I-NP +position NN I-NP +... : O +by IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +three CD B-NP +years NNS I-NP +from IN B-PP +now RB B-NP +. . O + +It PRP B-NP +implies VBZ B-VP +very RB B-NP +dramatic JJ I-NP +growth NN I-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +He PRP B-NP +added VBD B-VP +that IN B-SBAR +Eurocom NNP B-NP +and CC I-NP +WCRS NNP I-NP +had VBD B-VP +agreed VBN I-VP +to TO I-VP +provide VB I-VP +a DT B-NP +development NN I-NP +fund NN I-NP +of IN B-PP +# # B-NP +100 CD I-NP +million CD I-NP +for IN B-PP +acquisitions NNS B-NP +. . O + +The DT B-NP +new JJ I-NP +agency NN I-NP +group NN I-NP +is VBZ B-VP +already RB B-ADVP +in IN B-PP +discussions NNS B-NP +about IN B-PP +a DT B-NP +possible JJ I-NP +purchase NN I-NP +in IN B-PP +Spain NNP B-NP +, , O +while IN B-SBAR +Mr. NNP B-NP +Breene NNP I-NP +said VBD B-VP +it PRP B-NP +also RB B-ADVP +plans VBZ B-VP +to TO I-VP +make VB I-VP +acquisitions NNS B-NP +in IN B-PP +Scandinavia NNP B-NP +, , I-NP +Germany NNP I-NP +and CC O +elsewhere RB B-ADVP +. . O + +Cracking VBG B-VP +the DT B-NP +top JJ I-NP +10 CD I-NP +within IN B-PP +three CD B-NP +years NNS I-NP +will MD B-VP +be VB I-VP +difficult JJ B-ADJP +at IN B-ADVP +best JJS I-ADVP +. . O + +Della NNP B-NP +Femina NNP I-NP +had VBD B-VP +billings NNS B-NP +of IN B-PP +just RB B-NP +$ $ I-NP +660 CD I-NP +million CD I-NP +last JJ B-NP +year NN I-NP +and CC O +ranked VBD B-VP +as IN B-PP +the DT B-NP +U.S. NNP I-NP +'s POS B-NP +24th-largest JJ I-NP +ad NN I-NP +agency NN I-NP +. . O + +The DT B-NP +merged VBN I-NP +company NN I-NP +that IN B-NP +it PRP B-NP +now RB B-ADVP +becomes VBZ B-VP +part NN B-NP +of IN B-PP +will MD B-VP +have VB I-VP +billings NNS B-NP +of IN B-PP +just RB B-NP +more JJR I-NP +than IN I-NP +$ $ I-NP +2.6 CD I-NP +billion CD I-NP +-- : O +most RBS B-NP +of IN B-PP +that DT B-NP +in NN B-PP +Europe NNP B-NP +-- : O +bringing VBG B-VP +it PRP B-NP +to TO B-PP +about IN B-NP +14th JJ I-NP +world-wide JJ B-ADVP +. . O + +To TO B-VP +make VB I-VP +it PRP B-NP +to TO B-PP +top-10 JJ B-NP +status NN I-NP +, , O +it PRP B-NP +would MD B-VP +have VB I-VP +to TO I-VP +leapfrog VB I-VP +over IN B-PP +such JJ B-NP +formidable JJ I-NP +forces NNS I-NP +as IN B-PP +Grey NNP B-NP +Advertising NNP I-NP +, , O +D'Arcy NNP B-NP +Masius NNP I-NP +Benton NNP I-NP +& CC I-NP +Bowles NNP I-NP +and CC O +Omnicom NNP B-NP +'s POS B-NP +DDB NNP I-NP +Needham NNP I-NP +. . O + +The DT B-NP +merged VBN I-NP +agency NN I-NP +'s POS B-NP +game NN I-NP +plan NN I-NP +to TO B-VP +attract VB I-VP +multinational JJ B-NP +packaged-goods NNS I-NP +advertisers NNS I-NP +may MD B-VP +prove VB I-VP +equally RB B-ADJP +difficult JJ I-ADJP +. . O + +When WRB B-ADVP +WCRS NNP B-NP +created VBD B-VP +Della NNP B-NP +Femina NNP I-NP +McNamee NNP I-NP +out IN B-ADVP +of IN B-PP +the DT B-NP +merger NN I-NP +of IN B-PP +three CD B-NP +smaller JJR I-NP +agency NN I-NP +units NNS I-NP +in IN B-PP +1988 CD B-NP +, , O +it PRP B-NP +said VBD B-VP +it PRP B-NP +did VBD B-VP +so RB B-ADVP +in IN B-SBAR +order NN O +to TO B-VP +attract VB I-VP +larger JJR B-NP +clients NNS I-NP +, , O +especially RB B-ADVP +packaged-goods NNS B-NP +companies NNS I-NP +. . O + +Since IN B-PP +then RB B-NP +, , O +Della NNP B-NP +Femina NNP I-NP +won VBD B-VP +Pan NNP B-NP +Am NNP I-NP +as IN B-PP +an DT B-NP +international JJ I-NP +client NN I-NP +and CC O +also RB B-ADVP +does VBZ B-VP +work NN B-NP +for IN B-PP +a DT B-NP +few JJ I-NP +packaged-goods NNS I-NP +clients NNS I-NP +, , O +including VBG B-PP +Dow NNP B-NP +Chemical NNP I-NP +Co. NNP I-NP +'s POS B-NP +Saran NNP I-NP +Wrap NNP I-NP +. . O + +But CC O +major JJ B-NP +packaged-goods NNS I-NP +players NNS I-NP +of IN B-PP +the DT B-NP +world NN I-NP +-- : O +such JJ B-PP +as IN I-PP +Procter NNP B-NP +& CC I-NP +Gamble NNP I-NP +, , O +Colgate-Palmolive NNP B-NP +and CC O +Unilever NNP B-NP +-- : O +have VBP B-VP +steadfastly RB I-VP +eluded VBN I-VP +the DT B-NP +agency NN I-NP +. . O + +`` `` O +Three CD B-NP +of IN B-PP +our PRP$ B-NP +favorite JJ I-NP +names NNS I-NP +, , O +'' '' O +Mr. NNP B-NP +Della NNP I-NP +Femina NNP I-NP +calls VBZ B-VP +that DT B-NP +roster NN I-NP +, , O +adding VBG B-VP +hopefully RB B-ADVP +, , O +`` `` O +We PRP B-NP +'re VBP B-VP +a DT O +much RB B-ADVP +more RBR I-ADVP +attractive JJ B-NP +agency NN I-NP +to TO B-PP +large JJ B-NP +multinationals NNS I-NP +today NN B-NP +than IN B-SBAR +we PRP B-NP +were VBD B-VP +yesterday NN B-NP +. . O +'' '' O + +Still RB B-ADVP +, , O +the DT B-NP +restructuring NN I-NP +could MD B-VP +create VB I-VP +one CD B-NP +of IN B-PP +the DT B-NP +most RBS I-NP +powerful JJ I-NP +alliances NNS I-NP +between IN B-PP +advertising NN B-NP +and CC I-NP +media-buying JJ I-NP +firms NNS I-NP +that IN B-NP +Europe NNP B-NP +has VBZ B-VP +seen VBN I-VP +. . O + +As IN B-PP +part NN B-NP +of IN B-PP +the DT B-NP +restructuring NN I-NP +, , O +WCRS NNP B-NP +and CC I-NP +Eurocom NNP I-NP +said VBD B-VP +they PRP B-NP +will MD B-VP +look VB I-VP +for IN B-PP +ways NNS B-NP +to TO B-VP +combine VB I-VP +their PRP$ B-NP +media NNS I-NP +buying VBG I-NP +across IN B-PP +Europe NNP B-NP +. . O + +What WP B-NP +'s VBZ B-VP +more JJR B-ADJP +, , O +both DT B-NP +Eurocom NNP B-NP +and CC O +brothers NNS B-NP +Francis NNP I-NP +and CC I-NP +Gilbert NNP I-NP +Gross NNP I-NP +, , O +who WP B-NP +founded VBD B-VP +Carat NNP B-NP +, , O +will MD B-VP +acquire VB I-VP +14.99 CD B-NP +% NN I-NP +stakes NNS I-NP +in IN B-PP +WCRS NNP B-NP +Group NNP I-NP +, , O +creating VBG B-VP +a DT B-NP +powerful JJ I-NP +link NN I-NP +between IN B-PP +Eurocom NNP B-NP +and CC I-NP +Carat NNP I-NP +. . O + +Carat NNP B-NP +will MD B-VP +receive VB I-VP +its PRP$ B-NP +WCRS NNP I-NP +stake NN I-NP +as IN B-PP +part NN B-NP +of IN B-PP +payment NN B-NP +for IN B-PP +the DT B-NP +50 CD I-NP +% NN I-NP +Carat NNP I-NP +stake NN I-NP +that IN B-NP +WCRS NNP B-NP +is VBZ B-VP +buying VBG I-VP +, , O +while IN B-SBAR +Eurocom NNP B-NP +said VBD B-VP +it PRP B-NP +expects VBZ B-VP +to TO I-VP +pay VB I-VP +about IN B-NP +# # I-NP +32 CD I-NP +million CD I-NP +for IN B-PP +its PRP$ B-NP +WCRS NNP I-NP +stake NN I-NP +. . O + +Mr. NNP B-NP +Della NNP I-NP +Femina NNP I-NP +says VBZ B-VP +he PRP B-NP +plans VBZ B-VP +to TO I-VP +remain VB I-VP +heavily RB B-ADJP +involved VBN I-ADJP +in IN B-PP +the DT B-NP +creative JJ I-NP +product NN I-NP +at IN B-PP +the DT B-NP +world-wide JJ I-NP +agency NN I-NP +, , O +serving VBG B-VP +as IN B-PP +a DT B-NP +sort NN I-NP +of IN B-PP +`` `` O +creative JJ B-NP +conscience NN I-NP +. . O +'' '' O + +Louise NNP B-NP +McNamee NNP I-NP +, , O +Della NNP B-NP +Femina NNP I-NP +'s POS B-NP +president NN I-NP +, , O +will MD B-VP +continue VB I-VP +running VBG I-VP +the DT B-NP +U.S. NNP I-NP +agency NN I-NP +day-to-day JJ B-ADVP +. . O + +They PRP B-NP +and CC O +other JJ B-NP +top JJ I-NP +executives NNS I-NP +signed VBD B-VP +long-term JJ B-NP +employment NN I-NP +contracts NNS I-NP +and CC O +Mr. NNP B-NP +Della NNP I-NP +Femina NNP I-NP +will MD B-VP +receive VB I-VP +an DT B-NP +additional JJ I-NP +multimillion-dollar JJ I-NP +sum NN I-NP +, , O +which WDT B-NP +some DT B-NP +industry NN I-NP +executives NNS I-NP +pegged VBN B-VP +at IN B-PP +about RB B-NP +$ $ I-NP +10 CD I-NP +million CD I-NP +. . O + +WCRS NNP B-NP +Group NNP I-NP +, , O +for IN B-PP +its PRP$ B-NP +part NN I-NP +, , O +will MD B-VP +now RB I-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +follow VB I-VP +its PRP$ B-NP +longstanding JJ I-NP +plan NN I-NP +of IN B-PP +becoming VBG B-VP +`` `` O +a DT B-NP +holding VBG I-NP +company NN I-NP +for IN B-PP +a DT B-NP +series NN I-NP +of IN B-PP +media-related JJ B-NP +businesses NNS I-NP +, , O +'' '' O +said VBD B-VP +Peter NNP B-NP +Scott NNP I-NP +, , O +the DT B-NP +firm NN I-NP +'s POS B-NP +chief JJ I-NP +executive NN I-NP +. . O + +In IN B-PP +addition NN B-NP +to TO B-PP +Carat NNP B-NP +, , O +WCRS NNP B-NP +will MD B-VP +hold VB I-VP +onto IN B-PP +its PRP$ B-NP +public JJ I-NP +relations NNS I-NP +, , I-NP +TV NN I-NP +programming NN I-NP +and CC I-NP +other JJ I-NP +businesses NNS I-NP +. . O + +WCRS NNP B-NP +says VBZ B-VP +its PRP$ B-NP +debt NN I-NP +will MD B-VP +be VB I-VP +cut VBN I-VP +to TO B-PP +# # B-NP +24 CD I-NP +million CD I-NP +from IN B-PP +# # B-NP +66 CD I-NP +million CD I-NP +as IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +the DT B-NP +transaction NN I-NP +. . O + +For IN B-PP +Carat NNP B-NP +, , O +meanwhile RB B-ADVP +, , O +the DT B-NP +alliance NN I-NP +with IN B-PP +Eurocom NNP B-NP +and CC I-NP +WCRS NNP I-NP +is VBZ B-VP +intended VBN I-VP +to TO I-VP +strengthen VB I-VP +its PRP$ B-NP +own JJ I-NP +push NN I-NP +outside IN B-PP +France NNP B-NP +. . O + +Carat NNP B-NP +'s POS B-NP +Gross NNP I-NP +brothers NNS I-NP +invented VBD B-VP +the DT B-NP +idea NN I-NP +of IN B-PP +large-scale JJ B-NP +buying NN I-NP +of IN B-PP +media NNS B-NP +space NN I-NP +. . O + +By IN B-PP +buying VBG B-VP +the DT B-NP +space NN I-NP +in IN B-PP +bulk NN B-NP +, , O +they PRP B-NP +obtain VBP B-VP +discounts NNS B-NP +as RB B-ADJP +high JJ I-ADJP +as IN B-PP +50 CD B-NP +% NN I-NP +, , O +which WDT B-NP +they PRP B-NP +can MD B-VP +pass VB I-VP +on IN B-ADVP +to TO B-PP +customers NNS B-NP +. . O + +They PRP B-NP +thus RB B-ADVP +have VBP B-VP +won VBN I-VP +the DT B-NP +French JJ I-NP +space-buying NN I-NP +business NN I-NP +of IN B-PP +such JJ B-NP +advertising NN I-NP +giants NNS I-NP +as IN B-PP +Coca-Cola NNP B-NP +Co. NNP I-NP +, , O +Fiat NNP B-NP +S.p NNP I-NP +. . I-NP +A. NNP I-NP +, , O +Gillette NNP B-NP +and CC O +Kodak NNP B-NP +. . O + +But CC O +now RB B-ADVP +, , O +other JJ B-NP +agencies NNS I-NP +are VBP B-VP +getting VBG I-VP +into IN B-PP +the DT B-NP +business NN I-NP +with IN B-PP +their PRP$ B-NP +own JJ I-NP +competing VBG I-NP +media-buying JJ I-NP +groups NNS I-NP +-- : O +and CC O +Carat NNP B-NP +wants VBZ B-VP +to TO I-VP +expand VB I-VP +to TO B-PP +the DT B-NP +rest NN I-NP +of IN B-PP +Europe NNP B-NP +. . O + +To TO B-VP +help VB I-VP +finance VB I-VP +the DT B-NP +Carat NNP I-NP +purchase NN I-NP +, , O +WCRS NNP B-NP +said VBD B-VP +it PRP B-NP +plans VBZ B-VP +an DT B-NP +issue NN I-NP +of IN B-PP +Euroconvertible JJ B-NP +preferred JJ I-NP +shares NNS I-NP +once RB B-SBAR +the DT B-NP +market NN I-NP +settles VBZ B-VP +down RB B-ADVP +. . O + +But CC O +WCRS NNP B-NP +added VBD B-VP +that IN B-SBAR +`` `` O +in IN B-PP +the DT B-NP +light NN I-NP +of IN B-PP +the DT B-NP +current JJ I-NP +uncertainty NN I-NP +in IN B-PP +the DT B-NP +equity NN I-NP +markets NNS I-NP +, , O +'' '' O +it PRP B-NP +has VBZ B-VP +arranged VBN I-VP +medium-term JJ B-NP +debt NN I-NP +financing NN I-NP +, , O +which WDT B-NP +would MD B-VP +be VB I-VP +underwritten VBN I-VP +by IN B-PP +Samuel NNP B-NP +Montagu NNP I-NP +& CC I-NP +Co. NNP I-NP +Ltd NNP I-NP +. . O + +Earthquake NN B-NP +'s POS B-NP +Damage NN I-NP + +Tuesday NNP B-NP +'s POS B-NP +earthquake NN I-NP +brought VBD B-VP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +ad NN I-NP +scene NN I-NP +to TO B-PP +a DT B-NP +screeching VBG I-NP +halt NN I-NP +yesterday NN B-NP +, , O +with IN B-PP +only RB B-NP +a DT I-NP +few JJ I-NP +staffers NNS I-NP +showing VBG B-VP +up IN B-PRT +at IN B-PP +their PRP$ B-NP +offices NNS I-NP +, , O +mainly RB B-ADVP +to TO B-VP +survey VB I-VP +the DT B-NP +damage NN I-NP +or CC O +to TO B-VP +wring VB I-VP +their PRP$ B-NP +hands NNS I-NP +about IN B-PP +imminent JJ B-NP +new-business NN I-NP +presentations NNS I-NP +. . O + +While IN B-SBAR +no DT B-NP +agencies NNS I-NP +reported VBD B-VP +injuries NNS B-NP +to TO B-PP +employees NNS B-NP +, , O +the DT B-NP +quake NN I-NP +damaged VBD B-VP +the DT B-NP +offices NNS I-NP +of IN B-PP +J. NNP B-NP +Walter NNP I-NP +Thompson NNP I-NP +, , O +Chiat\/Day\/Mojo NNP B-NP +and CC O +DDB NNP B-NP +Needham NNP I-NP +, , O +among IN B-PP +others NNS B-NP +, , O +spokesmen NNS B-NP +for IN B-PP +those DT B-NP +agencies NNS I-NP +said VBD B-VP +. . O + +Staffers NNS B-NP +at IN B-PP +Thompson NNP B-NP +, , O +whose WP$ B-NP +offices NNS I-NP +are VBP B-VP +in IN B-PP +the DT B-NP +ultramodern JJ I-NP +Embarcadero NNP I-NP +Center NNP I-NP +, , O +watched VBD B-VP +pictures NNS B-NP +drop VBP B-VP +from IN B-PP +the DT B-NP +walls NNS I-NP +and CC O +then RB O +felt VBD B-VP +the DT B-NP +skyscraper NN I-NP +sway NN B-VP +seven CD B-NP +to TO I-NP +eight CD I-NP +feet NNS I-NP +, , O +according VBG B-PP +to TO B-PP +a DT B-NP +spokeswoman NN I-NP +. . O + +Plaster NNP B-NP +fell VBD B-VP +and CC O +windows NNS B-NP +were VBD B-VP +broken VBN I-VP +at IN B-PP +Chiat\/Day\/Mojo NNP B-NP +, , O +a DT B-NP +spokesman NN I-NP +for IN B-PP +that DT B-NP +agency NN I-NP +said VBD B-VP +. . O + +Late JJ B-NP +yesterday NN I-NP +afternoon NN I-NP +, , O +DDB NNP B-NP +Needham NNP I-NP +executives NNS I-NP +were VBD B-VP +scrambling VBG I-VP +to TO I-VP +figure VB I-VP +out IN B-PRT +what WP B-NP +to TO B-VP +do VB I-VP +about IN B-PP +a DT B-NP +new JJ I-NP +business NN I-NP +presentation NN I-NP +that WDT B-NP +had VBD B-VP +been VBN I-VP +scheduled VBN I-VP +for IN B-PP +today NN B-NP +, , O +a DT B-NP +spokesman NN I-NP +said VBD B-VP +. . O + +DDB NNP B-NP +Needham NNP I-NP +'s POS B-NP +office NN I-NP +building NN I-NP +may MD B-VP +have VB I-VP +sustained VBN I-VP +structural JJ B-NP +damage NN I-NP +, , O +the DT B-NP +spokesman NN I-NP +added VBD B-VP +. . O + +`` `` O +All DT B-NP +operations NNS I-NP +have VBP B-VP +stopped VBN I-VP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +A DT B-NP +number NN I-NP +of IN B-PP +agencies NNS B-NP +, , O +including VBG B-PP +Thompson NNP B-NP +and CC I-NP +Foote NNP I-NP +, , I-NP +Cone NNP I-NP +& CC I-NP +Belding NNP I-NP +, , O +said VBD B-VP +some DT B-NP +employees NNS I-NP +who WP B-NP +live VBP B-VP +outside IN B-PP +of IN B-PP +San NNP B-NP +Francisco NNP I-NP +, , O +fearful JJ B-ADJP +that IN B-SBAR +they PRP B-NP +would MD B-VP +n't RB I-VP +be VB I-VP +able JJ B-ADJP +to TO B-VP +get VB I-VP +home NN B-ADVP +, , O +spent VBD B-VP +the DT B-NP +night NN I-NP +at IN B-PP +the DT B-NP +agency NN I-NP +. . O + +Ad NN B-NP +Notes NNS I-NP +... : O +. . O + +NEW JJ B-NP +ACCOUNT NN I-NP +: : O + +Chesebrough-Pond NNP B-NP +'s POS B-NP +Inc. NNP I-NP +, , O +Greenwich NNP B-NP +, , O +Conn. NNP B-NP +, , O +awarded VBD B-VP +its PRP$ B-NP +Faberge NNP I-NP +hair NN I-NP +care NN I-NP +accounts NNS I-NP +to TO B-PP +J. NNP B-NP +Walter NNP I-NP +Thompson NNP I-NP +, , O +New NNP B-NP +York NNP I-NP +. . O + +Thompson NNP B-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +WPP NNP B-NP +Group NNP I-NP +, , O +will MD B-VP +handle VB I-VP +Faberge NNP B-NP +Organic NNP I-NP +shampoo NN I-NP +and CC I-NP +conditioner NN I-NP +and CC O +Aqua NNP B-NP +Net JJ I-NP +hairspray NN I-NP +. . O + +The DT B-NP +accounts NNS I-NP +, , O +which WDT B-NP +billed VBD B-VP +about RB B-NP +$ $ I-NP +7 CD I-NP +million CD I-NP +last JJ B-NP +year NN I-NP +, , O +according VBG B-PP +to TO B-PP +Leading VBG B-NP +National NNP I-NP +Advertisers NNS I-NP +, , O +were VBD B-VP +previously RB I-VP +handled VBN I-VP +at IN B-PP +Bozell NNP B-NP +, , O +New NNP B-NP +York NNP I-NP +. . O + +WHO WP B-NP +'S VBZ B-VP +NEWS NN B-NP +: : O + +William NNP B-NP +Morrissey NNP I-NP +, , O +44 CD B-NP +, , O +was VBD B-VP +named VBN I-VP +executive JJ B-NP +vice NN I-NP +president NN I-NP +, , O +world-wide JJ B-NP +director NN I-NP +of IN B-PP +McCann NNP B-NP +Direct JJ I-NP +, , O +the DT B-NP +direct JJ I-NP +marketing NN I-NP +unit NN I-NP +of IN B-PP +Interpublic NNP B-NP +Group NNP I-NP +'s POS B-NP +McCann-Erickson NNP I-NP +agency NN I-NP +. . O + +He PRP B-NP +had VBD B-VP +been VBN I-VP +president NN B-NP +and CC O +chief JJ B-NP +operating VBG I-NP +officer NN I-NP +of IN B-PP +Ogilvy NNP B-NP +& CC I-NP +Mather NNP I-NP +Direct JJ I-NP +. . O + +BOZELL NNP B-NP +: : O + +Los NNP B-NP +Angeles NNP I-NP +will MD B-VP +be VB I-VP +the DT B-NP +site NN I-NP +of IN B-PP +a DT B-NP +new JJ I-NP +entertainment NN I-NP +division NN I-NP +for IN B-PP +the DT B-NP +ad NN I-NP +agency NN I-NP +. . O + +The DT B-NP +division NN I-NP +will MD B-VP +be VB I-VP +headed VBN I-VP +by IN B-PP +Dick NNP B-NP +Porter NNP I-NP +, , O +who WP B-NP +returns VBZ B-VP +to TO B-PP +Bozell NNP B-NP +after IN B-PP +being VBG B-VP +vice NN B-NP +president NN I-NP +of IN B-PP +media NNS B-NP +at IN B-PP +MGM NNP B-NP +. . O + +AC&R NNP B-NP +ADVERTISING NNP I-NP +: : O + +The DT B-NP +agency NN I-NP +'s POS B-NP +three CD I-NP +California NNP I-NP +offices NNS I-NP +, , O +previously RB B-VP +called VBN I-VP +AC&R\/CCL NNP B-NP +Advertising NNP I-NP +, , O +will MD B-VP +now RB I-VP +be VB I-VP +called VBN I-VP +AC&R NNP B-NP +Advertising NNP I-NP +to TO B-VP +match VB I-VP +the DT B-NP +name NN I-NP +of IN B-PP +its PRP$ B-NP +New NNP I-NP +York NNP I-NP +office NN I-NP +. . O + +AC&R NNP B-NP +Advertising NNP I-NP +is VBZ B-VP +a DT B-NP +unit NN I-NP +of IN B-PP +Saatchi NNP B-NP +& CC I-NP +Saatchi NNP I-NP +Co NNP I-NP +. . O + +NEW JJ B-NP +BEER NN I-NP +: : O + +Sibra NNP B-NP +Products NNP I-NP +Inc. NNP I-NP +, , O +Greenwich NNP B-NP +, , O +Conn. NNP B-NP +, , O +awarded VBD B-VP +its PRP$ B-NP +Cardinal NNP I-NP +Amber NNP I-NP +Light NNP I-NP +beer NN I-NP +account NN I-NP +to TO B-PP +Heidelberg NNP B-NP +& CC I-NP +Associates NNPS I-NP +, , O +New NNP B-NP +York NNP I-NP +. . O + +Budget NNP B-NP +is VBZ B-VP +set VBN I-VP +at IN B-PP +$ $ B-NP +1.5 CD I-NP +million CD I-NP +. . O + +The DT B-NP +new JJ I-NP +beer NN I-NP +, , O +introduced VBD B-VP +this DT B-NP +week NN I-NP +at IN B-PP +a DT B-NP +liquor NN I-NP +industry NN I-NP +convention NN I-NP +, , O +is VBZ B-VP +imported VBN I-VP +from IN B-PP +Switzerland NNP B-NP +'s POS B-NP +Cardinal NNP I-NP +brewery NN I-NP +. . O + +Heidelberg NNP B-NP +'s POS B-NP +first JJ I-NP +ads NNS I-NP +for IN B-PP +the DT B-NP +brand NN I-NP +, , O +which WDT B-NP +Sibra NNP B-NP +says VBZ B-VP +will MD B-VP +compete VB I-VP +with IN B-PP +imported VBN B-NP +light NN I-NP +beer NN I-NP +leader NN I-NP +Amstel NNP I-NP +Light NNP I-NP +, , O +feature NN B-VP +the DT B-NP +line NN I-NP +`` `` O +The DT B-NP +best JJS I-NP +tasting VBG I-NP +light NN I-NP +beer NN I-NP +you PRP B-NP +'ve VBP B-VP +ever RB I-VP +seen VBN I-VP +. . O + +Diamond-Star NNP B-NP +Motors NNPS I-NP +Corp. NNP I-NP +, , O +a DT B-NP +joint JJ I-NP +venture NN I-NP +of IN B-PP +Chrysler NNP B-NP +Corp. NNP I-NP +and CC O +Mitsubishi NNP B-NP +Motors NNPS I-NP +Corp. NNP I-NP +said VBD B-VP +it PRP B-NP +will MD B-VP +begin VB I-VP +shipping VBG I-VP +Mitsubishi NNP B-NP +Eclipse NNP I-NP +cars NNS I-NP +to TO B-PP +Japan NNP B-NP +next JJ B-NP +week NN I-NP +, , O +emulating VBG B-VP +other JJ B-NP +Japanese JJ I-NP +auto NN I-NP +ventures NNS I-NP +shipping VBG B-VP +U.S.-built JJ B-NP +vehicles NNS I-NP +back RB B-ADVP +to TO B-PP +Japan NNP B-NP +. . O + +Diamond-Star NNP B-NP +said VBD B-VP +it PRP B-NP +will MD B-VP +export VB I-VP +about IN B-NP +1,500 CD I-NP +Eclipse NNP I-NP +cars NNS I-NP +to TO B-PP +Japan NNP B-NP +by IN B-PP +year NN B-NP +'s POS B-NP +end NN I-NP +. . O + +Honda NNP B-NP +Motor NNP I-NP +Co. NNP I-NP +, , O +the DT B-NP +first JJ I-NP +Japanese JJ I-NP +auto NN I-NP +maker NN I-NP +to TO B-VP +ship VB I-VP +cars NNS B-NP +to TO B-PP +Japan NNP B-NP +from IN B-PP +the DT B-NP +U.S. NNP I-NP +, , O +is VBZ B-VP +now RB I-VP +exporting VBG I-VP +more JJR B-NP +than IN I-NP +5,000 CD I-NP +Accord NNP I-NP +Coupes NNP I-NP +a DT B-NP +year NN I-NP +from IN B-PP +its PRP$ B-NP +Marysville NNP I-NP +, , I-NP +Ohio NNP I-NP +, , I-NP +factory NN I-NP +. . O + +One CD B-NP +of IN B-PP +the DT B-NP +most RBS I-NP +remarkable JJ I-NP +features NNS I-NP +of IN B-PP +the DT B-NP +forced VBN I-NP +marches NNS I-NP +of IN B-PP +the DT B-NP +ethnic JJ I-NP +Turks NNPS I-NP +out IN B-PP +of IN B-PP +Bulgaria NNP B-NP +over IN B-PP +the DT B-NP +past JJ I-NP +five CD I-NP +months NNS I-NP +has VBZ B-VP +been VBN I-VP +the DT B-NP +lack NN I-NP +of IN B-PP +international JJ B-NP +attention NN I-NP +. . O + +The DT B-NP +deportation NN I-NP +of IN B-PP +more JJR B-NP +than IN I-NP +315,000 CD I-NP +men NNS I-NP +, , I-NP +women NNS I-NP +and CC I-NP +children NNS I-NP +by IN B-PP +the DT B-NP +Bulgarian JJ I-NP +regime NN I-NP +adds VBZ B-VP +up IN B-PRT +to TO B-PP +one CD B-NP +of IN B-PP +the DT B-NP +largest JJS I-NP +migrations NNS I-NP +seen VBN B-VP +in IN B-PP +the DT B-NP +postwar JJ I-NP +years NNS I-NP +. . O + +Yet RB O +some DT B-NP +people NNS I-NP +are VBP B-VP +advancing VBG I-VP +a DT B-NP +chilling VBG I-NP +casuistry NN I-NP +: : O +that IN B-SBAR +what WP B-NP +we PRP B-NP +are VBP B-VP +seeing VBG I-VP +is VBZ B-VP +somehow RB B-ADVP +the DT B-NP +understandable JJ I-NP +result NN I-NP +of IN B-PP +the DT B-NP +historical JJ I-NP +sins NNS I-NP +committed VBN B-VP +by IN B-PP +the DT B-NP +Turks NNPS I-NP +in IN B-PP +the DT B-NP +16th JJ I-NP +century NN I-NP +. . O + +Today NN B-NP +'s POS B-NP +Turks NNPS I-NP +in IN B-PP +Bulgaria NNP B-NP +, , O +in IN B-PP +other JJ B-NP +words NNS I-NP +, , O +deserve VBP B-VP +what WP B-NP +is VBZ B-VP +coming VBG I-VP +to TO B-PP +them PRP B-NP +four CD B-NP +centuries NNS I-NP +later RB B-ADVP +. . O + +As IN B-SBAR +if IN I-SBAR +this DT B-NP +were VBD B-VP +n't RB O +enough RB B-ADVP +, , O +the DT B-NP +Senate NNP I-NP +Judiciary NNP I-NP +Committee NNP I-NP +is VBZ B-VP +getting VBG I-VP +into IN B-PP +the DT B-NP +act NN I-NP +. . O + +On IN B-PP +Tuesday NNP B-NP +it PRP B-NP +approved VBD B-VP +Senator NNP B-NP +Bob NNP I-NP +Dole NNP I-NP +'s POS B-NP +proposed VBN I-NP +commemorative JJ I-NP +resolution NN I-NP +designating VBG B-VP +April NNP B-NP +24 CD I-NP +, , O +1990 CD B-NP +, , O +as IN B-PP +the DT B-NP +`` `` I-NP +National NNP I-NP +Day NNP I-NP +of IN B-PP +Remembrance NN B-NP +of IN B-PP +the DT B-NP +75th CD I-NP +Anniversary NNP I-NP +of IN B-PP +the DT B-NP +Armenian JJ I-NP +Genocide NN I-NP +of IN B-PP +1915-1923 CD B-NP +, , O +'' '' O +suffered VBD B-VP +at IN B-PP +the DT B-NP +hands NNS I-NP +of IN B-PP +the DT B-NP +warring VBG I-NP +Ottoman NNP I-NP +Empire NNP I-NP +. . O + +There EX B-NP +can MD B-VP +be VB I-VP +no DT B-NP +quibbling VBG I-NP +that IN B-SBAR +the DT B-NP +Armenians NNPS I-NP +endured VBD B-VP +terrible JJ B-NP +suffering NN I-NP +, , O +but CC O +one CD B-NP +has VBZ B-VP +to TO I-VP +wonder VB I-VP +what WP B-NP +possible JJ I-NP +good JJ I-NP +such JJ B-NP +a DT I-NP +resolution NN I-NP +will MD B-VP +achieve VB I-VP +. . O + +It PRP B-NP +puts VBZ B-VP +great JJ B-NP +strain NN I-NP +on IN B-PP +a DT B-NP +longstanding JJ I-NP +U.S. NNP I-NP +friendship NN I-NP +with IN B-PP +Turkey NNP B-NP +, , O +a DT B-NP +country NN I-NP +that WDT B-NP +has VBZ B-VP +been VBN I-VP +one CD B-NP +of IN B-PP +America NNP B-NP +'s POS B-NP +strongest JJS I-NP +allies NNS I-NP +in IN B-PP +NATO NNP B-NP +. . O + +The DT B-NP +resolution NN I-NP +also RB B-ADVP +comes VBZ B-VP +at IN B-PP +a DT B-NP +time NN I-NP +when WRB B-ADVP +Turkey NNP B-NP +has VBZ B-VP +been VBN I-VP +seeking VBG I-VP +help VB B-NP +from IN B-PP +the DT B-NP +United NNP I-NP +States NNPS I-NP +in IN B-PP +resolving VBG B-VP +its PRP$ B-NP +Bulgarian JJ I-NP +emigration NN I-NP +controversy NN I-NP +and CC O +pursuing VBG B-VP +democratic JJ B-NP +reforms NNS I-NP +that WDT B-NP +may MD B-VP +lead VB I-VP +to TO B-PP +membership NN B-NP +in IN B-PP +the DT B-NP +European NNP I-NP +Community NNP I-NP +. . O + +Turkey NNP B-NP +has VBZ B-VP +been VBN I-VP +fighting VBG I-VP +its PRP$ B-NP +past JJ I-NP +for IN B-PP +years NNS B-NP +, , O +and CC O +thus RB B-VP +far RB I-VP +has VBZ I-VP +been VBN I-VP +only RB B-ADJP +partially RB I-ADJP +successful JJ I-ADJP +. . O + +Must MD O +it PRP B-NP +now RB B-ADVP +accept VB B-VP +that IN B-SBAR +one CD B-NP +of IN B-PP +its PRP$ B-NP +strongest JJS I-NP +allies NNS I-NP +blames VBZ B-VP +it PRP B-NP +for IN B-PP +the DT B-NP +genocide NN I-NP +of IN B-PP +another DT B-NP +people NNS I-NP +? . O + +Such JJ B-NP +sentiment NN I-NP +only RB B-ADVP +encourages VBZ B-VP +the DT B-NP +adverse JJ I-NP +feelings NNS I-NP +toward IN B-PP +Turkey NNP B-NP +that WDT B-NP +surfaced VBD B-VP +when WRB B-ADVP +Turkey NNP B-NP +asked VBD B-VP +for IN B-PP +assistance NN B-NP +in IN B-PP +dealing VBG B-VP +with IN B-PP +its PRP$ B-NP +Bulgarian JJ I-NP +emigration NN I-NP +crisis NN I-NP +. . O + +Mr. NNP B-NP +Dole NNP I-NP +'s POS B-NP +odd JJ I-NP +effort NN I-NP +notwithstanding IN B-PP +, , O +most RBS B-NP +of IN B-PP +Turkey NNP B-NP +'s POS B-NP +political JJ I-NP +problems NNS I-NP +lie VBP B-VP +with IN B-PP +the DT B-NP +Europeans NNPS I-NP +. . O + +Part NN B-NP +of IN B-PP +the DT B-NP +problem NN I-NP +some DT B-NP +Europeans NNPS I-NP +have VBP B-VP +with IN B-PP +Turkey NNP B-NP +seems VBZ B-VP +to TO I-VP +stem VB I-VP +from IN B-PP +its PRP$ B-NP +location NN I-NP +-- : O +Turkey NNP B-NP +is VBZ B-VP +n't RB O +really RB B-ADVP +part NN B-NP +of IN B-PP +Europe NNP B-NP +. . O + +Why WRB B-ADVP +, , O +they PRP B-NP +wonder VBP B-VP +, , O +should MD O +it PRP B-NP +belong VB B-VP +to TO B-PP +the DT B-NP +EC NNP I-NP +? . O + +Another DT B-NP +anti-Turkish JJ I-NP +hook NN I-NP +is VBZ B-VP +the DT B-NP +Islamic NNP I-NP +faith NN I-NP +of IN B-PP +the DT B-NP +majority NN I-NP +of IN B-PP +the DT B-NP +Turkish JJ I-NP +people NNS I-NP +: : O +Turkey NNP B-NP +, , O +we PRP B-NP +are VBP B-VP +told VBN I-VP +, , O +is VBZ B-VP +not RB O +a DT B-NP +Christian NNP I-NP +nation NN I-NP +; : O +its PRP$ B-NP +people NNS I-NP +simply RB B-ADVP +wo MD B-VP +n't RB I-VP +fit VB I-VP +in IN B-PRT +with IN B-PP +the DT B-NP +Western JJ I-NP +European JJ I-NP +Judeo-Christian JJ I-NP +tradition NN I-NP +. . O + +It PRP B-NP +'s VBZ B-VP +when WRB B-ADVP +these DT B-NP +rationalizations NNS I-NP +fall VBP B-VP +on IN B-PP +deaf JJ B-NP +ears NNS I-NP +that IN B-SBAR +the DT B-NP +old JJ I-NP +standby NN I-NP +of IN B-PP +retribution NN B-NP +for IN B-PP +treatment NN B-NP +at IN B-PP +the DT B-NP +hands NNS I-NP +of IN B-PP +the DT B-NP +Ottoman NNP I-NP +Empire NNP I-NP +comes VBZ B-VP +to TO B-PP +the DT B-NP +fore NN I-NP +. . O + +No DT B-NP +one CD I-NP +has VBZ B-VP +to TO I-VP +accept VB I-VP +the DT B-NP +sins NNS I-NP +of IN B-PP +the DT B-NP +Ottoman NNP I-NP +Empire NNP I-NP +to TO B-VP +reject VB I-VP +that DT B-NP +argument NN I-NP +. . O + +Turkey NNP B-NP +in IN B-PP +any DT B-NP +event NN I-NP +is VBZ B-VP +long JJ B-ADVP +past JJ O +it PRP B-NP +. . O + +The DT B-NP +country NN I-NP +has VBZ B-VP +in IN B-PP +recent JJ B-NP +years NNS I-NP +accepted VBN B-VP +more JJR B-NP +than IN I-NP +500,000 CD I-NP +refugees NNS I-NP +from IN B-PP +at IN B-NP +least JJS I-NP +four CD I-NP +bordering VBG I-NP +nations NNS I-NP +. . O + +Kurds NNPS B-NP +, , O +suffering VBG B-VP +what WP B-NP +many JJ B-NP +people NNS I-NP +consider VBP B-VP +to TO I-VP +be VB I-VP +a DT B-NP +current JJ I-NP +extermination NN I-NP +campaign NN I-NP +at IN B-PP +the DT B-NP +hands NNS I-NP +of IN B-PP +Syria NNP B-NP +, , I-NP +Iran NNP I-NP +and CC I-NP +Iraq NNP I-NP +have VBP B-VP +inundated VBN I-VP +eastern JJ B-NP +Turkey NNP I-NP +. . O + +Now RB B-ADVP +it PRP B-NP +is VBZ B-VP +their PRP$ B-NP +fellow NN I-NP +Turks NNPS I-NP +arriving VBG B-VP +as IN B-PP +refugees NNS B-NP +from IN B-PP +Bulgaria NNP B-NP +. . O + +The DT B-NP +Turkish JJ I-NP +refugee NN I-NP +tragedy NN I-NP +and CC O +the DT B-NP +ongoing JJ I-NP +crisis NN I-NP +can MD B-VP +not RB I-VP +be VB I-VP +ignored VBN I-VP +and CC O +shuttled VBD B-VP +off IN B-ADVP +to TO B-PP +that IN B-NP +notorious JJ I-NP +dustbin NN I-NP +of IN B-PP +history NN B-NP +that WDT B-NP +has VBZ B-VP +become VBN I-VP +so RB B-ADJP +convenient JJ I-ADJP +recently RB B-ADVP +. . O + +Surely RB B-ADVP +, , O +the DT B-NP +past JJ I-NP +suffering NN I-NP +of IN B-PP +any DT B-NP +people NNS I-NP +at IN B-PP +any DT B-NP +time NN I-NP +can MD B-VP +not RB I-VP +be VB I-VP +simply RB I-VP +filed VBN I-VP +away RB B-ADVP +and CC O +forgotten VBN B-VP +. . O + +But CC O +what WP B-NP +the DT B-NP +Senate NNP I-NP +Judiciary NNP I-NP +Committee NNP I-NP +has VBZ B-VP +done VBN I-VP +in IN B-PP +supporting VBG B-VP +the DT B-NP +strongly RB I-NP +worded VBN I-NP +Armenian JJ I-NP +resolution NN I-NP +achieves VBZ B-VP +no DT B-NP +useful JJ I-NP +end NN I-NP +; : O +it PRP B-NP +merely RB B-ADVP +produces VBZ B-VP +more JJR B-NP +controversy NN I-NP +and CC O +embittered VBN B-NP +memories NNS I-NP +. . O + +Congress NNP B-NP +has VBZ B-VP +enough JJ B-NP +difficulty NN I-NP +dealing VBG B-VP +with IN B-PP +the DT B-NP +realities NNS I-NP +of IN B-PP +the DT B-NP +world NN I-NP +as IN B-SBAR +it PRP B-NP +currently RB B-ADVP +exists VBZ B-VP +. . O + +Bulgaria NNP B-NP +'s POS B-NP +government NN I-NP +has VBZ B-VP +been VBN I-VP +behaving VBG I-VP +beyond IN B-PP +the DT B-NP +pale NN I-NP +for IN B-PP +months NNS B-NP +, , O +and CC O +the DT B-NP +U.S. NNP I-NP +does VBZ B-VP +its PRP$ B-NP +values NNS I-NP +no DT B-NP +credit NN I-NP +by IN B-PP +ignoring VBG B-VP +that IN B-NP +while IN B-SBAR +casting VBG B-VP +its PRP$ B-NP +votes NNS I-NP +into IN B-PP +the DT B-NP +past NN I-NP +. . O + +Many JJ B-NP +in IN B-PP +Washington NNP B-NP +say VBP B-VP +President NNP B-NP +Bush NNP I-NP +will MD B-VP +have VB I-VP +to TO I-VP +raise VB I-VP +taxes NNS B-NP +to TO B-VP +pay VB I-VP +for IN B-PP +his PRP$ B-NP +war NN I-NP +on IN B-PP +drugs NNS B-NP +. . O + +We PRP B-NP +have VBP B-VP +a DT B-NP +better JJR I-NP +idea NN I-NP +: : O +Dismantle VB B-VP +HUD NNP B-NP +to TO B-VP +pay VB I-VP +for IN B-PP +the DT B-NP +war NN I-NP +on IN B-PP +drugs NNS B-NP +. . O + +Housing NNP B-NP +and CC O +Urban NNP B-NP +Development NNP I-NP +'s POS B-NP +budget NN I-NP +is VBZ B-VP +$ $ B-NP +17 CD I-NP +billion CD I-NP +. . O + +From IN B-PP +what WP B-NP +we PRP B-NP +and CC O +the DT B-NP +nation NN I-NP +have VBP B-VP +been VBN I-VP +reading NN I-VP +, , O +the DT B-NP +money NN I-NP +is VBZ B-VP +n't RB I-VP +being VBG I-VP +spent VBN I-VP +very RB B-ADVP +well RB I-ADVP +. . O + +The DT B-NP +single JJ I-NP +most RBS I-NP +important JJ I-NP +contribution NN I-NP +the DT B-NP +government NN I-NP +could MD B-VP +make VB I-VP +now RB B-ADVP +to TO B-VP +help VB I-VP +the DT B-NP +poor NN I-NP +is VBZ B-VP +to TO B-VP +get VB I-VP +the DT B-NP +specter NN I-NP +of IN B-PP +drugs NNS B-NP +out IN B-PP +of IN B-PP +their PRP$ B-NP +neighborhoods NNS I-NP +. . O + +If IN B-SBAR +that DT B-NP +takes VBZ B-VP +money NN B-NP +, , O +take VB B-VP +it PRP B-NP +away RB B-ADVP +from IN B-PP +this DT B-NP +discredited VBN I-NP +federal JJ I-NP +department NN I-NP +. . O + +But CC O +of IN B-PP +course NN B-NP +the DT B-NP +Democrats NNPS I-NP +pillorying VBG B-VP +HUD NNP B-NP +in IN B-PP +hearings NNS B-NP +and CC B-PP +in IN B-PP +the DT B-NP +press NN I-NP +have VBP B-VP +no DT B-NP +such JJ I-NP +solution NN I-NP +in IN B-PP +mind NN B-NP +. . O + +Instead RB B-ADVP +, , O +they PRP B-NP +'re VBP B-VP +scrambling VBG I-VP +to TO I-VP +protect VB I-VP +the DT B-NP +very JJ I-NP +programs NNS I-NP +at IN B-PP +the DT B-NP +heart NN I-NP +of IN B-PP +the DT B-NP +HUD NNP I-NP +scandal NN I-NP +. . O + +This DT B-NP +month NN I-NP +, , O +HUD NNP B-NP +Secretary NNP I-NP +Jack NNP I-NP +Kemp NNP I-NP +unveiled VBD B-VP +a DT B-NP +series NN I-NP +of IN B-PP +proposed VBN B-NP +reforms NNS I-NP +to TO B-VP +improve VB I-VP +management NN B-NP +at IN B-PP +HUD NNP B-NP +. . O + +No DT B-NP +doubt NN I-NP +many NN B-NP +of IN B-PP +his PRP$ B-NP +ideas NNS I-NP +are VBP B-VP +worthy JJ B-ADJP +, , O +but CC O +ultimately RB B-ADVP +he PRP B-NP +is VBZ B-VP +proposing VBG I-VP +to TO I-VP +make VB I-VP +fundamentally RB B-NP +flawed JJ I-NP +programs NNS I-NP +work VBP B-VP +slightly RB B-ADVP +more RBR I-ADVP +fairly RB I-ADVP +and CC I-ADVP +efficiently RB I-ADVP +. . O + +Congress NNP B-NP +is VBZ B-VP +unlikely JJ B-ADJP +to TO B-VP +go VB I-VP +even RB B-ADVP +that DT I-ADVP +far RB I-ADVP +. . O + +Last JJ B-NP +week NN I-NP +, , O +Secretary NNP B-NP +Kemp NNP I-NP +ran VBD B-VP +into IN B-PP +a DT B-NP +buzzsaw NN I-NP +of IN B-PP +criticism NN B-NP +from IN B-PP +House NNP B-NP +Banking NNP I-NP +Committee NNP I-NP +members NNS I-NP +. . O + +They PRP B-NP +were VBD B-VP +appalled VBN B-ADJP +, , O +for IN B-PP +instance NN B-NP +, , O +that IN B-SBAR +he PRP B-NP +wanted VBD B-VP +to TO I-VP +target VB I-VP +more JJR B-NP +of IN B-PP +the DT B-NP +$ $ I-NP +3 CD I-NP +billion CD I-NP +Community NNP I-NP +Development NNP I-NP +Block NNP I-NP +Grant NNP I-NP +-LRB- ( O +CDBG NNP O +-RRB- ) O +program NN B-NP +to TO B-PP +low-income JJ B-NP +projects NNS I-NP +and CC O +zero CD B-VP +out RP B-PRT +the IN B-NP +notorious JJ I-NP +`` `` I-NP +discretionary JJ I-NP +'' '' I-NP +funds NNS I-NP +that WDT B-NP +have VBP B-VP +allowed VBN I-VP +HUD NNP B-NP +officials NNS I-NP +to TO B-VP +steer VB I-VP +contracts NNS B-NP +to TO B-PP +political JJ B-NP +cronies NNS I-NP +. . O + +These DT B-NP +development NN I-NP +grants NNS I-NP +mainly RB B-ADVP +enrich VBP B-VP +developers NNS B-NP +who WP B-NP +want VBP B-VP +to TO I-VP +put VB I-VP +up IN B-PRT +shopping NN B-NP +centers NNS I-NP +and CC O +parking NN B-NP +garages NNS I-NP +. . O + +They PRP B-NP +also RB B-ADVP +give VBP B-VP +those DT B-NP +in NN B-PP +Congress NNP B-NP +political JJ B-NP +credit NN I-NP +for IN B-PP +bringing VBG B-VP +home NN B-ADVP +the DT B-NP +pork NN I-NP +, , O +and CC O +so IN O +they PRP B-NP +are VBP B-VP +popular JJ B-ADJP +with IN B-PP +such JJ B-NP +Members NNS I-NP +as IN B-PP +Mary NNP B-NP +Rose NNP I-NP +Oakar NNP I-NP +. . O + +Rep. NNP B-NP +Oakar NNP I-NP +, , O +a DT B-NP +Democrat NNP I-NP +from IN B-PP +Cleveland NNP B-NP +, , O +wants VBZ B-VP +a DT B-NP +$ $ I-NP +6.9 CD I-NP +million CD I-NP +grant NN I-NP +so RB B-SBAR +Cleveland NNP B-NP +can MD B-VP +build VB I-VP +an DT B-NP +18-story NNP I-NP +Rock NNP I-NP +and CC I-NP +Roll NNP I-NP +Hall NNP I-NP +of IN B-PP +Fame NNP B-NP +. . O + +She PRP B-NP +says VBZ B-VP +it PRP B-NP +'d MD B-VP +create VB I-VP +600 CD B-NP +jobs NNS I-NP +and CC O +bring VB B-VP +Cleveland NNP B-NP +tourist NN B-NP +revenue NN I-NP +. . O + +HUD NNP B-NP +says VBZ B-VP +the DT B-NP +project NN I-NP +does VBZ B-VP +n't RB I-VP +qualify VB I-VP +, , O +and CC O +Mr. NNP B-NP +Kemp NNP I-NP +says VBZ B-VP +that DT O +rock NN B-NP +'n' NN I-NP +roll NN I-NP +musicians NNS I-NP +and CC O +the DT B-NP +music NN I-NP +industry NN I-NP +ought MD B-VP +to TO I-VP +put VB I-VP +up IN B-PRT +the DT B-NP +money NN I-NP +. . O + +At IN B-PP +the DT B-NP +hearing NN I-NP +, , O +Rep. NNP B-NP +Oakar NNP I-NP +started VBD B-VP +wailing VBG I-VP +about IN B-PP +`` `` O +phoney JJ B-NP +baloney NN I-NP +regulations NNS I-NP +'' '' O +that WDT B-NP +would MD B-VP +stand VB I-VP +between IN B-PP +her PRP$ B-NP +and CC O +`` `` O +housing NN B-NP +for IN B-PP +downtown NN B-NP +Cleveland NNP I-NP +. . O +'' '' O + +Rep. NNP B-NP +Chalmers NNP I-NP +Wylie NNP I-NP +, , O +an DT B-NP +Ohio NNP I-NP +Republican NNP I-NP +, , O +rallied VBD B-VP +to TO B-PP +the DT B-NP +cause NN I-NP +: : O +`` `` O +I PRP B-NP +think VBP B-VP +the DT B-NP +gentlelady NN I-NP +is VBZ B-VP +making VBG I-VP +an DT B-NP +important JJ I-NP +statement NN I-NP +. . O + +The DT B-NP +implication NN I-NP +that IN B-SBAR +if IN B-SBAR +a DT B-NP +congressman NN I-NP +calls VBZ B-VP +about IN B-PP +a DT B-NP +project NN I-NP +in IN B-PP +his PRP$ B-NP +district NN I-NP +there EX B-NP +'s VBZ B-VP +something NN B-NP +wrong JJ B-ADJP +, , O +I PRP B-NP +think VBP B-VP +is VBZ B-VP +most RBS B-ADJP +unfortunate JJ I-ADJP +. . O +'' '' O + +We PRP B-NP +'re VBP B-VP +sure JJ B-ADJP +some DT B-NP +theologian NN I-NP +can MD B-VP +explain VB I-VP +the DT B-NP +difference NN I-NP +between IN B-PP +what WP B-NP +the DT B-NP +Republican NNP I-NP +consultants NNS I-NP +have VBP B-VP +been VBN I-VP +doing VBG I-VP +with IN B-PP +HUD NNP B-NP +and CC O +what WP B-NP +these DT B-NP +gentleladies NNS I-NP +and CC I-NP +gentlemen NNS I-NP +want VBP B-VP +to TO I-VP +do VB I-VP +with IN B-PP +HUD NNP B-NP +. . O + +Our PRP$ B-NP +view NN I-NP +is VBZ B-VP +that IN O +given VBN B-PP +Congress NNP B-NP +'s POS B-NP +attitude NN I-NP +toward IN B-PP +HUD NNP B-NP +, , O +the DT B-NP +place NN I-NP +probably RB B-ADVP +is VBZ B-VP +beyond IN B-PP +reform NN B-NP +. . O + +For IN B-PP +more JJR B-NP +than IN I-NP +50 CD I-NP +years NNS I-NP +the DT B-NP +federal JJ I-NP +government NN I-NP +has VBZ B-VP +tried VBN I-VP +various JJ B-NP +ways NNS I-NP +to TO B-VP +provide VB I-VP +housing NN B-NP +for IN B-PP +the DT B-NP +poor JJ I-NP +and CC O +revive VB B-VP +cities NNS B-NP +. . O + +In IN B-PP +the DT B-NP +process NN I-NP +HUD NNP B-NP +has VBZ B-VP +wasted VBN I-VP +untold JJ B-NP +billions NNS I-NP +, , O +created VBN B-VP +slums NNS B-NP +and CC O +invited VBN B-VP +corruption NN B-NP +. . O + +Much RB B-NP +of IN B-PP +HUD NNP B-NP +'s POS B-NP +spending NN I-NP +actually RB B-ADVP +is VBZ B-VP +disguised VBN B-NP +welfare NN I-NP +for IN B-PP +developers NNS B-NP +or CC O +the DT B-NP +middle NN I-NP +class NN I-NP +. . O + +That DT B-NP +includes VBZ B-VP +the DT B-NP +CDBG NNP I-NP +funds NNS I-NP +and CC O +the DT B-NP +Federal NNP I-NP +Housing NNP I-NP +Administration NNP I-NP +, , O +which WDT B-NP +loans VBZ B-VP +out RP B-PRT +money NN B-NP +for IN B-PP +private JJ B-NP +home NN I-NP +mortgages NNS I-NP +and CC O +has VBZ B-VP +just RB I-VP +been VBN I-VP +discovered VBN I-VP +to TO I-VP +be VB I-VP +$ $ B-NP +4 CD I-NP +billion CD I-NP +in IN B-PP +the DT B-NP +hole NN I-NP +. . O + +Selling VBG B-VP +the DT B-NP +FHA NNP I-NP +'s POS B-NP +loan NN I-NP +portfolio NN I-NP +to TO B-PP +the DT B-NP +highest JJS I-NP +bidder NN I-NP +would MD B-VP +save VB I-VP +the DT B-NP +taxpayers NNS I-NP +untold JJ B-NP +billions NNS I-NP +in IN B-PP +future NN B-NP +losses NNS I-NP +. . O + +Some DT B-NP +HUD NNP I-NP +money NN I-NP +actually RB B-ADVP +does VBZ B-VP +trickle NN I-VP +down RB B-ADVP +to TO B-PP +the DT B-NP +poor NN I-NP +, , O +and CC O +zeroing VBG B-VP +out RP B-PRT +housing NN B-NP +middlemen NNS I-NP +would MD B-VP +free VB I-VP +up IN B-PRT +more JJR B-NP +money NN I-NP +for IN B-SBAR +public JJ B-NP +housing NN I-NP +tenants NNS I-NP +to TO B-VP +manage VB I-VP +and CC O +even RB B-ADVP +own JJ B-VP +their PRP$ B-NP +units NNS I-NP +. . O + +The DT B-NP +rest NN I-NP +ought MD B-VP +to TO I-VP +be VB I-VP +used VBN I-VP +to TO B-VP +clean VB I-VP +out RP B-PRT +drugs NNS B-NP +from IN B-PP +the DT B-NP +neighbhorhoods NNS I-NP +. . O + +Rival JJ B-NP +gangs NNS I-NP +have VBP B-VP +turned VBN I-VP +cities NNS B-NP +into IN B-PP +combat NN B-NP +zones NNS I-NP +. . O + +Even RB O +suburban JJ O +Prince NNP B-NP +George NNP I-NP +'s POS B-NP +County NNP I-NP +, , O +Md. NNP B-NP +, , O +reported VBD B-VP +last JJ B-NP +week NN I-NP +there EX B-NP +have VBP B-VP +been VBN I-VP +a DT B-NP +record NN I-NP +96 CD I-NP +killings NNS I-NP +there EX B-ADVP +this DT B-NP +year NN I-NP +, , O +most RBS B-NP +of IN B-PP +them PRP B-NP +drug-related JJ B-ADJP +. . O + +Innocent JJ B-NP +bystanders NNS I-NP +often RB B-ADVP +are VBP B-VP +the DT B-NP +victims NNS I-NP +. . O + +A DT B-NP +man NN I-NP +in IN B-PP +a DT B-NP +wheelchair NN I-NP +was VBD B-VP +gunned VBN I-VP +down RB B-ADVP +in IN B-PP +the DT B-NP +crossfire NN I-NP +of IN B-PP +a DT B-NP +Miami NNP I-NP +drug NN I-NP +battle NN I-NP +. . O + +A DT B-NP +three-year-old JJ I-NP +Brooklyn NNP I-NP +boy NN I-NP +was VBD B-VP +used VBN I-VP +as IN B-PP +a DT B-NP +shield NN I-NP +by IN B-PP +a DT B-NP +drug NN I-NP +dealer NN I-NP +. . O + +Decent JJ B-NP +life NN I-NP +in IN B-PP +the DT B-NP +inner JJ I-NP +cities NNS I-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +restored VBN I-VP +unless IN B-SBAR +the DT B-NP +government NN I-NP +reclaims VBZ B-VP +the DT B-NP +streets NNS I-NP +from IN B-PP +the DT B-NP +drug NN I-NP +gangs NNS I-NP +. . O + +Until IN B-PP +then RB B-NP +, , O +the DT B-NP +billions NNS I-NP +HUD NNP B-NP +spends VBZ B-VP +on IN B-PP +inner-city JJ B-NP +housing NN I-NP +simply RB B-ADVP +is VBZ B-VP +wasted VBN I-VP +. . O + +It PRP B-NP +'s VBZ B-VP +still RB B-ADVP +unclear JJ B-ADJP +whether IN B-SBAR +Secretary NNP B-NP +Kemp NNP I-NP +wants VBZ B-VP +to TO I-VP +completely RB I-VP +overhaul NN I-VP +the DT B-NP +engine NN I-NP +room NN I-NP +at IN B-PP +HUD NNP B-NP +or CC O +just RB B-ADVP +tighten VB B-VP +a DT B-NP +few JJ I-NP +screws NNS I-NP +here RB B-ADVP +and CC I-ADVP +there RB I-ADVP +. . O + +No DT B-NP +doubt NN I-NP +he PRP B-NP +believes VBZ B-VP +the DT B-NP +place NN I-NP +can MD B-VP +be VB I-VP +salvaged VBN I-VP +. . O + +Having VBG B-VP +seen VBN I-VP +the DT B-NP +hypocrisy NN I-NP +with IN B-PP +which WDT B-NP +Congress NNP B-NP +has VBZ B-VP +addressed VBN I-VP +the DT B-NP +HUD NNP I-NP +scandals NNS I-NP +, , O +we PRP B-NP +disagree VBP B-VP +. . O + +It PRP B-NP +'s VBZ B-VP +time NN B-NP +to TO B-VP +scrap VB I-VP +the DT B-NP +politically RB I-NP +infested VBN I-NP +spending NN I-NP +machine NN I-NP +HUD NNP B-NP +has VBZ B-VP +become VBN I-VP +and CC O +channel VB B-VP +the DT B-NP +resources NNS I-NP +into IN B-PP +the DT B-NP +drug NN I-NP +war NN I-NP +. . O + +Randy NNP B-NP +Delchamps NNP I-NP +was VBD B-VP +named VBN I-VP +chairman NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +this DT B-NP +grocery NN I-NP +chain NN I-NP +. . O + +Mr. NNP B-NP +Delchamps NNP I-NP +, , O +46 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +succeeds VBZ B-VP +A.F. NNP B-NP +Delchamps NNP I-NP +Jr. NNP I-NP +, , O +who WP B-NP +died VBD B-VP +in IN B-PP +a DT B-NP +plane NN I-NP +crash NN I-NP +on IN B-PP +Sunday NNP B-NP +at IN B-PP +the DT B-NP +age NN I-NP +of IN B-PP +58 CD B-NP +. . O + +Randy NNP B-NP +Delchamps NNP I-NP +retains VBZ B-VP +his PRP$ B-NP +position NN I-NP +as IN B-PP +president NN B-NP +. . O + +Natural JJ B-NP +upheavals NNS I-NP +, , O +and CC O +most RBS B-ADVP +particularly RB I-ADVP +earthquakes NNS B-NP +, , O +are VBP B-VP +not RB B-CONJP +only RB O +horrible JJ B-NP +realities NNS I-NP +in IN B-PP +and CC I-PP +of IN I-PP +themselves PRP B-NP +, , O +but CC B-CONJP +also RB I-CONJP +symbols NNS B-NP +through IN B-PP +which WDT B-NP +the DT B-NP +state NN I-NP +of IN B-PP +a DT B-NP +society NN I-NP +can MD B-VP +be VB I-VP +construed VBN I-VP +. . O + +The DT B-NP +rubble NN I-NP +after IN B-PP +the DT B-NP +Armenian JJ I-NP +earthquake NN I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +disclosed VBD B-VP +, , O +quite RB B-ADVP +literally RB I-ADVP +, , O +a DT B-NP +city NN I-NP +whose WP$ B-NP +larger JJR I-NP +structures NNS I-NP +had VBD B-VP +been VBN I-VP +built VBN I-VP +with IN B-PP +sand NN B-NP +. . O + +The DT B-NP +extent NN I-NP +of IN B-PP +the DT B-NP +disaster NN I-NP +stemmed VBD B-VP +from IN B-PP +years NNS B-NP +of IN B-PP +chicanery NN B-NP +and CC O +bureaucratic JJ B-NP +indifference NN I-NP +. . O + +The DT B-NP +larger RBR I-NP +parallel JJ I-NP +after IN B-PP +the DT B-NP +earthquake NN I-NP +centered VBN B-VP +south RB B-ADVP +of IN B-PP +San NNP B-NP +Francisco NNP I-NP +is VBZ B-VP +surely RB B-ADVP +with IN B-PP +the DT B-NP +state NN I-NP +of IN B-PP +the DT B-NP +U.S. NNP I-NP +economy NN I-NP +. . O + +Did VBD O +the DT B-NP +stock-market NN I-NP +tremors NNS I-NP +of IN B-PP +Friday NNP B-NP +, , O +Oct. NNP B-NP +13 CD I-NP +, , O +presage VB B-VP +larger JJR B-NP +fragility NN I-NP +, , O +far RB B-NP +greater JJR I-NP +upheavals NNS I-NP +? . O + +Are VBP O +the DT B-NP +engineering NN I-NP +and CC I-NP +architecture NN I-NP +of IN B-PP +the DT B-NP +economy NN I-NP +as RB B-ADJP +vulnerable JJ I-ADJP +as IN B-PP +the DT B-NP +spans NNS I-NP +of IN B-PP +the DT B-NP +Bay NNP I-NP +Bridge NNP I-NP +? . O + +The DT B-NP +eerie JJ I-NP +complacency NN I-NP +of IN B-PP +the DT B-NP +Reagan-Bush JJ I-NP +era NN I-NP +has VBZ B-VP +produced VBN I-VP +Panglossian JJ B-NP +paeans NNS I-NP +about IN B-PP +the DT B-NP +present JJ I-NP +perfection NN I-NP +of IN B-PP +U.S. NNP B-NP +economic JJ I-NP +and CC I-NP +social JJ I-NP +arrangements NNS I-NP +. . O + +A DT B-NP +licensed VBN I-NP +government NN I-NP +intellectual JJ I-NP +, , O +Francis NNP B-NP +Fukuyama NNP I-NP +, , O +recently RB B-ADVP +announced VBD B-VP +in IN B-PP +The DT B-NP +National NNP I-NP +Interest NN I-NP +that DT B-SBAR +history NN B-NP +is VBZ B-VP +, , O +so RB B-ADVP +to TO B-VP +speak VB I-VP +, , O +at IN B-PP +an DT B-NP +end NN I-NP +since IN B-SBAR +the DT B-NP +course NN I-NP +of IN B-PP +human JJ B-NP +progress NN I-NP +has VBZ B-VP +now RB I-VP +culminated VBN I-VP +in IN B-PP +the DT B-NP +glorious JJ I-NP +full JJ I-NP +stop NN I-NP +of IN B-PP +American JJ B-NP +civilization NN I-NP +. . O + +His PRP$ B-NP +observations NNS I-NP +were VBD B-VP +taken VBN I-VP +seriously RB B-ADVP +. . O + +But CC O +we PRP B-NP +are VBP B-VP +, , O +in IN B-PP +reality NN B-NP +, , O +witnessing VBG B-VP +the DT B-NP +continuing VBG I-NP +decline NN I-NP +of IN B-PP +the DT B-NP +political JJ I-NP +economy NN I-NP +of IN B-PP +capitalism NN B-NP +: : O +not RB B-NP +so RB B-ADVP +much JJ I-ADVP +the DT B-NP +end NN I-NP +of IN B-PP +history NN B-NP +but CC O +the DT B-NP +history NN I-NP +of IN B-PP +the DT B-NP +end NN I-NP +. . O + +The DT B-NP +financial JJ I-NP +equivalent NN I-NP +of IN B-PP +the DT B-NP +sand NN I-NP +used VBN B-VP +by IN B-PP +those DT B-NP +Armenian JJ I-NP +contractors NNS I-NP +is VBZ B-VP +junk NN B-NP +bonds NNS I-NP +and CC O +the DT B-NP +leveraged JJ I-NP +buy-outs NNS I-NP +associated VBN B-VP +with IN B-PP +them PRP B-NP +. . O + +Builders NNS B-NP +get VB B-VP +away RB B-ADVP +with IN B-PP +using VBG B-VP +sand NN B-NP +and CC O +financiers NNS B-NP +junk NN B-NP +when WRB B-ADVP +society NN B-NP +decides VBZ B-VP +it PRP B-NP +'s VBZ B-VP +okay JJ B-ADJP +, , O +necessary JJ B-ADJP +even RB B-ADVP +, , O +to TO B-VP +look VB I-VP +the DT B-NP +other JJ I-NP +way NN I-NP +. . O + +And CC O +by IN B-PP +the DT B-NP +early JJ I-NP +1980s CD I-NP +U.S. NNP B-NP +capitalists NNS I-NP +had VBD B-VP +ample JJ B-NP +reason NN I-NP +to TO B-VP +welcome VB I-VP +junk NN B-NP +bonds NNS I-NP +, , O +to TO B-VP +look VB I-VP +the DT B-NP +other JJ I-NP +way NN I-NP +. . O + +By IN B-PP +that DT B-NP +time NN I-NP +they PRP B-NP +found VBD B-VP +extremely RB B-NP +low JJ I-NP +profit NN I-NP +rates NNS I-NP +from IN B-PP +non-financial JJ B-NP +corporate JJ I-NP +investment NN I-NP +. . O + +Government NN B-NP +statistics NNS I-NP +in IN B-PP +fact NN B-NP +show NN B-VP +that IN B-SBAR +the DT B-NP +profit NN I-NP +rate NN I-NP +-- : O +net JJ B-NP +pretax JJ I-NP +profits NNS I-NP +divided VBN B-VP +by IN B-PP +capital NN B-NP +stock NN I-NP +-- : O +peaked VBD B-VP +in IN B-PP +1965 CD B-NP +at IN B-PP +17.2 CD B-NP +% NN I-NP +. . O + +That DT B-NP +same JJ I-NP +calculation NN I-NP +saw VBD B-VP +profit NN B-NP +rates NNS I-NP +fall VBP B-VP +to TO B-PP +4.6 CD B-NP +% NN I-NP +in IN B-PP +the DT B-NP +recession NN I-NP +year NN I-NP +1982 CD B-NP +and CC O +the DT B-NP +supposed VBN I-NP +miracle NN I-NP +that WDT B-NP +followed VBD B-VP +has VBZ B-VP +seen VBN I-VP +the DT B-NP +profit NN I-NP +rate NN I-NP +rise NN B-VP +only RB B-ADVP +to TO B-PP +8.1 CD B-NP +% NN I-NP +in IN B-PP +1986 CD B-NP +and CC O +8 CD B-NP +% NN I-NP +in IN B-PP +1987 CD B-NP +. . O + +Corresponding VBG B-VP +to TO B-PP +the DT B-NP +fall NN I-NP +in IN B-PP +profit NN B-NP +rates NNS I-NP +was VBD B-VP +-- : O +in IN B-PP +the DT B-NP +early JJ I-NP +1980s CD I-NP +-- : O +the DT B-NP +drop NN I-NP +in IN B-PP +the DT B-NP +number NN I-NP +arrived VBD B-VP +at IN B-PP +if IN B-SBAR +you PRP B-NP +divide VBP B-VP +the DT B-NP +market NN I-NP +value NN I-NP +of IN B-PP +firms NNS B-NP +by IN B-PP +the DT B-NP +replacement NN I-NP +costs NNS I-NP +of IN B-PP +their PRP$ B-NP +assets NNS I-NP +, , O +the DT B-NP +famous JJ I-NP +Q NN I-NP +ratio NN I-NP +associated VBN B-VP +with IN B-PP +Prof. NNP B-NP +James NNP I-NP +Tobin NNP I-NP +. . O + +In IN B-PP +theory NN B-NP +, , O +the DT B-NP +value NN I-NP +attached VBN B-VP +to TO B-PP +a DT B-NP +firm NN I-NP +by IN B-PP +the DT B-NP +market NN I-NP +and CC O +the DT B-NP +cost NN I-NP +of IN B-PP +replacing VBG B-VP +its PRP$ B-NP +assets NNS I-NP +should MD B-VP +be VB I-VP +the DT B-NP +same JJ I-NP +. . O + +But CC O +of IN B-PP +course NN B-NP +the DT B-NP +market NN I-NP +could MD B-VP +decide VB I-VP +that IN B-SBAR +the DT B-NP +firm NN I-NP +'s POS B-NP +capital NN I-NP +stock NN I-NP +-- : O +its PRP$ B-NP +assets NNS I-NP +-- : O +means VBZ B-VP +nothing NN B-NP +if IN B-SBAR +the DT B-NP +firm NN I-NP +is VBZ B-VP +not RB I-VP +producing VBG I-VP +profits NNS B-NP +. . O + +This DT B-NP +is VBZ B-VP +indeed RB B-ADVP +what WP B-NP +the DT B-NP +market NN I-NP +decided VBD B-VP +. . O + +By IN B-PP +1982 CD B-NP +the DT B-NP +ratio NN I-NP +was VBD B-VP +43.5 CD B-NP +% NN I-NP +, , O +meaning NN B-VP +that IN B-SBAR +the DT B-NP +market NN I-NP +was VBD B-VP +valuing VBG I-VP +every DT B-NP +dollar NN I-NP +'s POS B-NP +worth NN I-NP +of IN B-PP +the DT B-NP +average JJ I-NP +firm NN I-NP +'s POS B-NP +assets NNS I-NP +at IN B-PP +43 CD B-NP +cents NNS I-NP +. . O + +From IN B-PP +the DT B-NP +history NN I-NP +of IN B-PP +capitalism NN B-NP +we PRP B-NP +can MD B-VP +take VB I-VP +it PRP B-NP +as IN B-PP +a DT B-NP +sound NN I-NP +bet NN I-NP +that IN B-SBAR +if IN B-SBAR +it PRP B-NP +takes VBZ B-VP +only RB B-NP +43 CD I-NP +cents NNS I-NP +to TO B-VP +buy VB I-VP +a DT B-NP +dollar NN I-NP +'s POS B-NP +worth NN I-NP +of IN B-PP +a DT B-NP +firm NN I-NP +'s POS B-NP +capital NN I-NP +stock NN I-NP +, , O +an DT B-NP +alert JJ I-NP +entrepreneur NN I-NP +wo MD B-VP +n't RB I-VP +look VB I-VP +the DT B-NP +other JJ I-NP +way NN I-NP +. . O + +His PRP$ B-NP +assumption NN I-NP +is VBZ B-VP +that IN B-SBAR +the DT B-NP +underlying VBG I-NP +profitability NN I-NP +rate NN I-NP +will MD B-VP +go VB I-VP +up IN B-ADVP +and CC O +the DT B-NP +capital NN I-NP +assets NNS I-NP +he PRP B-NP +bought VBD B-VP +on IN B-PP +the DT B-NP +cheap JJ I-NP +will MD B-VP +soon RB I-VP +be VB I-VP +producing VBG I-VP +profits NNS B-NP +, , O +thus RB B-ADVP +restoring VBG B-VP +the DT B-NP +market NN I-NP +'s POS B-NP +faith NN I-NP +in IN B-PP +them PRP B-NP +. . O + +Hence RB B-ADVP +the DT B-NP +LBO NNP I-NP +craze NN I-NP +. . O + +But CC O +here RB B-NP +is VBZ B-VP +where WRB B-ADVP +the DT B-NP +entrepreneur NN I-NP +made VBD B-VP +a DT B-NP +very RB I-NP +risky JJ I-NP +bet NN I-NP +, , O +and CC O +where WRB B-ADVP +society NN B-NP +was VBD B-VP +maybe RB B-ADVP +foolish JJ B-ADJP +to TO B-VP +look VB I-VP +the DT B-NP +other JJ I-NP +way NN I-NP +. . O + +The DT B-NP +profit NN I-NP +rate NN I-NP +is VBZ B-VP +still RB B-ADVP +low JJ B-ADJP +and CC O +the DT B-NP +Q NN I-NP +ratio NN I-NP +was VBD B-VP +only RB B-NP +65 CD I-NP +% NN I-NP +in IN B-PP +1987 CD B-NP +and CC O +68.9 CD B-NP +% NN I-NP +in IN B-PP +1988 CD B-NP +. . O + +Result NN B-NP +: : O +a DT B-NP +landscape NN I-NP +littered VBN B-VP +with IN B-PP +lemons NNS B-NP +, , O +huge JJ B-NP +debt NN I-NP +burdens NNS I-NP +crushing VBG B-VP +down RB B-ADVP +upon IN B-PP +the DT B-NP +arch NN I-NP +and CC I-NP +spans NNS I-NP +of IN B-PP +corporate JJ B-NP +America NNP I-NP +. . O + +The DT B-NP +mounting VBG I-NP +risks NNS I-NP +did VBD B-VP +not RB I-VP +go VB I-VP +unobserved JJ B-ADJP +, , O +even RB B-PP +in IN I-PP +the DT B-NP +mid-1980s NNS I-NP +. . O + +But CC O +there EX B-NP +were VBD B-VP +enough JJ B-NP +promoters NNS I-NP +announcing VBG B-VP +the DT B-NP +end NN I-NP +of IN B-PP +history NN B-NP +-LRB- ( O +in IN B-PP +this DT B-NP +case NN I-NP +suspension NN B-NP +of IN B-PP +normal JJ B-NP +laws NNS I-NP +of IN B-PP +economic JJ B-NP +gravity NN I-NP +-RRB- ) O +for IN B-SBAR +society NN B-NP +to TO B-VP +continue VB I-VP +shielding VBG I-VP +its PRP$ B-NP +eyes NNS I-NP +. . O + +Mainstream NN B-NP +economists NNS I-NP +and CC I-NP +commentators NNS I-NP +, , O +craning VBG B-VP +their PRP$ B-NP +necks NNS I-NP +up IN B-ADVP +at IN B-PP +the DT B-NP +great JJ I-NP +pyramids NNS I-NP +of IN B-PP +junk NN B-NP +financing NN I-NP +, , O +swiveling VBG B-VP +their PRP$ B-NP +heads NNS I-NP +to TO B-VP +watch VB I-VP +the DT B-NP +avalanche NN I-NP +of IN B-PP +leveraged JJ B-NP +buy-outs NNS I-NP +, , O +claimed VBD B-VP +the DT B-NP +end NN I-NP +result NN I-NP +would MD B-VP +be VB I-VP +a DT B-NP +leaner JJR I-NP +, , I-NP +meaner JJR I-NP +corporate JJ I-NP +America NNP I-NP +, , O +with IN B-PP +soaring VBG B-NP +productivity NN I-NP +and CC I-NP +profits NNS I-NP +and CC O +the DT B-NP +weaker RBR I-NP +gone VBN B-VP +to TO B-PP +the DT B-NP +wall NN I-NP +. . O + +But CC O +this DT B-NP +is VBZ B-VP +not RB O +where WRB B-ADVP +the DT B-NP +rewards NNS I-NP +of IN B-PP +junk NN B-NP +financing NN I-NP +were VBD B-VP +found VBN I-VP +. . O + +The DT B-NP +beneficiaries NNS I-NP +were VBD B-VP +those DT B-NP +financiers NNS I-NP +whose WP$ B-NP +icon NN I-NP +was VBD B-VP +the DT B-NP +topic NN I-NP +figure NN I-NP +of IN B-PP +'80s NNS B-NP +capitalism NN I-NP +, , O +Michael NNP B-NP +Milken NNP I-NP +'s POS B-NP +$ $ B-ADJP +517 CD O +million CD O +salary NN B-NP +in IN B-PP +one CD B-NP +year NN I-NP +. . O + +Left-stream JJ B-NP +economists NNS I-NP +I PRP B-NP +associate JJ B-VP +with IN B-PP +-- : O +fellows NNS B-NP +in IN B-PP +the DT B-NP +Union NNP I-NP +of IN B-PP +Radical NNP B-NP +Political JJ I-NP +Economists NNS I-NP +, , O +most RBS B-ADVP +particularly RB I-ADVP +Robert NNP B-NP +Pollin NNP I-NP +of IN B-PP +the DT B-NP +economics NNS I-NP +faculty NN I-NP +at IN B-PP +the DT B-NP +University NNP I-NP +of IN B-PP +California NNP B-NP +at IN B-PP +Riverside NNP B-NP +-- : O +were VBD B-VP +not RB I-VP +hypnotized VBN I-VP +in IN B-PP +the DT B-NP +manner NN I-NP +of IN B-PP +their PRP$ B-NP +pliant JJ I-NP +colleagues NNS I-NP +. . O + +All DT B-ADVP +along IN I-ADVP +they PRP B-NP +have VBP B-VP +been VBN I-VP +noting VBG I-VP +the DT B-NP +tremors NNS I-NP +and CC O +pointing VBG B-VP +out RP B-PRT +the IN B-NP +underlying VBG I-NP +realities NNS I-NP +. . O + +Profit NN B-NP +rates NNS I-NP +after IN B-PP +the DT B-NP +great JJ I-NP +merger NN I-NP +wave NN I-NP +are VBP B-VP +no DT B-ADJP +higher JJR I-ADJP +, , O +and CC O +now RB B-ADVP +we PRP B-NP +have VBP B-VP +an DT B-NP +extremely RB I-NP +high-interest JJ I-NP +burden NN I-NP +relative JJ B-ADJP +to TO B-PP +cash VB B-NP +flow NN I-NP +. . O + +The DT B-NP +consequences NNS I-NP +of IN B-PP +building NN B-VP +empires NNS B-NP +with IN B-PP +sand NN B-NP +are VBP B-VP +showing VBG I-VP +up RB B-PRT +. . O + +In IN B-PP +contrast NN B-NP +to TO B-PP +previous JJ B-NP +estimates NNS I-NP +reckoning VBG B-VP +the DT B-NP +default NN I-NP +rate NN I-NP +on IN B-PP +junk NN B-NP +bonds NNS I-NP +at IN B-PP +2 CD B-NP +% NN I-NP +or CC O +3 CD B-NP +% NN I-NP +, , O +a DT B-NP +Harvard NNP I-NP +study NN I-NP +published VBN B-VP +in IN B-PP +April NNP B-NP +of IN B-PP +this DT B-NP +year NN I-NP +-LRB- ( O +and CC O +discussed VBN B-VP +in IN B-PP +a DT B-NP +lead NN I-NP +story NN I-NP +in IN B-PP +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +for IN B-PP +Sept. NNP B-NP +18 CD I-NP +-RRB- ) O +found VBD B-VP +the DT B-NP +default NN I-NP +rate NN I-NP +on IN B-PP +these DT B-NP +junk NN I-NP +bonds NNS I-NP +is VBZ B-VP +34 CD B-NP +% NN I-NP +. . O + +What WP B-NP +is VBZ B-VP +the DT B-NP +consequence NN I-NP +of IN B-PP +a DT B-NP +high-interest JJ I-NP +burden NN I-NP +, , O +high JJ B-NP +default NN I-NP +rates NNS I-NP +and CC O +continued VBD B-NP +low JJ I-NP +profitability NN I-NP +? . O + +Corporations NNS B-NP +need VBP B-VP +liquidity NN B-NP +, , O +in IN B-PP +the DT B-NP +form NN I-NP +of IN B-PP +borrowed VBN B-NP +funds NNS I-NP +. . O + +Without IN B-PP +liquidity NN B-NP +from IN B-PP +the DT B-NP +junk-bond NN I-NP +market NN I-NP +or CC O +cash NN B-NP +flow NN I-NP +from IN B-PP +profits NNS B-NP +, , O +they PRP B-NP +look VBP B-VP +to TO B-PP +the DT B-NP +government NN I-NP +, , O +which WDT B-NP +obediently RB B-VP +assists VBZ I-VP +the DT B-NP +natural JJ I-NP +motions NNS I-NP +of IN B-PP +the DT B-NP +capitalist JJ I-NP +economy NN I-NP +with IN B-PP +charity NN B-NP +in IN B-PP +the DT B-NP +form NN I-NP +of IN B-PP +cuts NNS B-NP +in IN B-PP +the DT B-NP +capital-gains NNS I-NP +tax VBP I-NP +rate NN I-NP +or CC O +bailouts NNS B-NP +. . O + +The DT B-NP +consequence NN I-NP +can MD B-VP +be VB I-VP +inflation NN B-NP +, , O +brought VBN B-VP +on IN B-PRT +as IN B-PP +the DT B-NP +effect NN I-NP +of IN B-PP +a DT B-NP +desperate JJ I-NP +bid NN I-NP +to TO B-VP +avoid VB I-VP +the DT B-NP +deflationary JJ I-NP +shock NN I-NP +of IN B-PP +a DT B-NP +sudden JJ I-NP +crash NN I-NP +. . O + +Attacks VBZ B-NP +on IN B-PP +inflation NN B-NP +come VB B-VP +with IN B-PP +another DT B-NP +strategy NN I-NP +of IN B-PP +capital NN B-NP +of IN B-PP +a DT B-NP +very RB I-NP +traditional JJ I-NP +sort NN I-NP +: : O +an DT B-NP +assault NN I-NP +on IN B-PP +wages NNS B-NP +. . O + +Mr. NNP B-NP +Fukuyama NNP I-NP +, , O +peering VBG B-VP +through IN B-PP +binoculars NNS B-NP +at IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +history NN B-NP +, , O +said VBD B-VP +in IN B-PP +his PRP$ B-NP +essay NN I-NP +that IN B-SBAR +`` `` O +the DT B-NP +class NN I-NP +issue NN I-NP +has VBZ B-VP +actually RB I-VP +been VBN I-VP +successfully RB I-VP +resolved VBN I-VP +in IN B-PP +the DT B-NP +West NNP I-NP +... : O + +the DT B-NP +egalitarianism NN I-NP +of IN B-PP +modern JJ B-NP +America NNP I-NP +represents VBZ B-VP +the DT B-NP +essential JJ I-NP +achievement NN I-NP +of IN B-PP +the DT B-NP +classless JJ I-NP +society NN I-NP +envisioned VBN B-VP +by IN B-PP +Marx NNP B-NP +. . O +'' '' O + +Mr. NNP B-NP +Fukuyama NNP I-NP +might MD B-VP +want VB I-VP +to TO I-VP +consult VB I-VP +some DT B-NP +American JJ I-NP +workers NNS I-NP +on IN B-PP +the DT B-NP +subject NN I-NP +of IN B-PP +class NN B-NP +and CC I-NP +egalitarianism NN I-NP +. . O + +From IN B-PP +its PRP$ B-NP +peak NN I-NP +in IN B-PP +1972 CD B-NP +of IN B-PP +$ $ B-NP +198.41 CD I-NP +, , O +the DT B-NP +average JJ I-NP +American JJ I-NP +weekly JJ I-NP +wage NN I-NP +had VBD B-VP +fallen VBN I-VP +to TO B-PP +$ $ B-NP +169.28 CD I-NP +in IN B-PP +1987 CD B-NP +-- : O +both DT B-NP +figures NNS I-NP +being VBG B-VP +expressed VBN I-VP +in IN B-PP +1977 CD B-NP +dollars NNS I-NP +. . O + +In IN B-PP +other JJ B-NP +words NNS I-NP +, , O +after IN B-PP +the DT B-NP +glory NN I-NP +boom NN I-NP +of IN B-PP +the DT B-NP +Reagan NNP I-NP +years NNS I-NP +, , O +wages NNS B-NP +had VBD B-VP +sunk VBN I-VP +from IN B-PP +the DT B-NP +post NN I-NP +World NNP I-NP +War NNP I-NP +II NNP I-NP +peak NN I-NP +by IN B-PP +16 CD B-NP +% NN I-NP +as IN B-SBAR +capitalists NNS B-NP +, , O +helped VBN B-VP +by IN B-PP +the DT B-NP +government NN I-NP +, , O +turned VBD B-VP +down RP B-PRT +the DT B-NP +screws NNS I-NP +or CC O +went VBD B-VP +offshore JJ B-ADVP +. . O + +But CC O +there EX B-NP +are VBP B-VP +signs NNS B-NP +now RB B-ADVP +-- : O +the DT B-NP +strikes NNS I-NP +by IN B-PP +miners NNS B-NP +, , O +Boeing NNP B-NP +workers NNS I-NP +, , O +telephone NN B-NP +workers NNS I-NP +, , B-NP +etc. FW I-NP +-- : O +that IN B-SBAR +this DT B-NP +attack NN I-NP +on IN B-PP +wages NNS B-NP +is VBZ B-VP +being VBG I-VP +more RBR I-VP +fiercely RB I-VP +resisted VBN I-VP +. . O + +These DT B-NP +are VBP B-VP +long-term JJ B-NP +Richter NNP I-NP +readings NNS I-NP +on IN B-PP +American JJ B-NP +capitalism NN I-NP +. . O + +The DT B-NP +whole JJ I-NP +structure NN I-NP +is VBZ B-VP +extremely RB B-ADJP +shaky JJ I-ADJP +. . O + +Governments NNS B-NP +have VBP B-VP +become VBN I-VP +sophisticated JJ B-ADJP +in IN B-PP +handling NN B-VP +moments NNS B-NP +of IN B-PP +panic NN B-NP +-LRB- ( O +a DT B-NP +word NN I-NP +the DT B-NP +London NNP I-NP +Times NNP I-NP +forbade VBD B-VP +my PRP$ B-NP +father NN I-NP +to TO B-VP +use VB I-VP +when WRB B-ADVP +he PRP B-NP +was VBD B-VP +reporting VBG I-VP +the DT B-NP +Wall NNP I-NP +Street NNP I-NP +crash NN I-NP +in IN B-PP +1929 CD B-NP +-RRB- ) O +. . O + +But CC O +sophistication NN B-NP +has VBZ B-VP +its PRP$ B-NP +limits NNS I-NP +. . O + +The DT B-NP +S&L NNP I-NP +bailout NN I-NP +could MD B-VP +cost VB I-VP +$ $ B-NP +300 CD I-NP +billion CD I-NP +, , O +computing VBG B-VP +interest NN B-NP +on IN B-PP +the DT B-NP +government NN I-NP +'s POS B-NP +loans NNS I-NP +. . O + +These DT B-NP +are VBP B-VP +real JJ B-NP +costs NNS I-NP +. . O + +Under IN B-PP +what WP B-NP +weights VBZ I-NP +will MD O +the DT B-NP +Federal NNP I-NP +Deposit NNP I-NP +Insurance NNP I-NP +Corporation NNP I-NP +totter VB B-VP +? . O + +Capitalism NN B-NP +may MD B-VP +now RB I-VP +be VB I-VP +engineered VBN I-VP +to TO B-VP +withstand VB I-VP +sudden JJ B-NP +shocks NNS I-NP +, , O +but CC O +there EX B-NP +are VBP B-VP +fault NN B-NP +lines NNS I-NP +-- : O +the DT B-NP +crisis NN I-NP +in IN B-PP +profits NNS B-NP +, , O +the DT B-NP +assault NN I-NP +on IN B-PP +wages NNS B-NP +, , O +the DT B-NP +structural JJ I-NP +inequity NN I-NP +of IN B-PP +the DT B-NP +system NN I-NP +-- : O +that WDT B-NP +make VBP B-VP +fools NNS B-NP +of IN B-PP +those DT B-NP +who WP B-NP +claim VBP B-VP +that IN B-SBAR +the DT B-NP +future NN I-NP +is VBZ B-VP +here RB B-ADVP +and CC O +that DT O +history NN B-NP +is VBZ B-VP +over RB B-ADVP +. . O + +Mr. NNP B-NP +Cockburn NNP I-NP +is VBZ B-VP +a DT B-NP +columnist NN I-NP +for IN B-PP +The DT B-NP +Nation NN I-NP +and CC O +LA NNP B-NP +Weekly NNP I-NP +. . O + +Japan NNP B-NP +Air NNP I-NP +Lines NNPS I-NP +, , O +Lufthansa NNP B-NP +German JJ I-NP +Airlines NNPS I-NP +and CC O +Air NNP B-NP +France NNP I-NP +reportedly RB B-ADVP +plan VBP B-VP +to TO I-VP +form VB I-VP +an DT B-NP +international JJ I-NP +air-freight NN I-NP +company NN I-NP +this DT B-NP +year NN I-NP +, , O +a DT B-NP +move NN I-NP +that WDT B-NP +could MD B-VP +further VB I-VP +consolidate VB I-VP +the DT B-NP +industry NN I-NP +. . O + +Japanese JJ B-NP +newspaper NN I-NP +Nihon NNP I-NP +Keizai NNP I-NP +Shimbun NNP I-NP +reported VBD B-VP +that IN B-SBAR +the DT B-NP +three CD I-NP +giants NNS I-NP +plan VBP B-VP +to TO I-VP +integrate VB I-VP +their PRP$ B-NP +cargo NN I-NP +computers NNS I-NP +and CC O +ground-cargo NN B-NP +and CC I-NP +air-cargo NN I-NP +systems NNS I-NP +. . O + +They PRP B-NP +reportedly RB B-ADVP +will MD B-VP +invest VB I-VP +a DT B-NP +total NN I-NP +of IN B-PP +20 CD B-NP +billion CD I-NP +yen NN I-NP +-LRB- ( O +$ $ B-NP +140 CD I-NP +million CD I-NP +-RRB- ) O +in IN B-PP +the DT B-NP +venture NN I-NP +, , O +whose WP$ B-NP +headquarters NN I-NP +would MD B-VP +be VB I-VP +in IN B-PP +France NNP B-NP +or CC O +West NNP B-NP +Germany NNP I-NP +. . O + +The DT B-NP +action NN I-NP +follows VBZ B-VP +Federal NNP B-NP +Express NNP I-NP +Corp. NNP I-NP +'s POS B-NP +acquisition NN I-NP +of IN B-PP +Flying NNP B-NP +Tiger NNP I-NP +Line NNP I-NP +Inc. NNP I-NP +in IN B-PP +August NNP B-NP +. . O + +After IN B-PP +that DT B-NP +, , O +`` `` O +it PRP B-NP +would MD B-VP +make VB I-VP +sense NN B-NP +for IN B-SBAR +airlines NNS B-NP +to TO B-VP +talk VB I-VP +about IN B-PP +doing VBG B-VP +things NNS B-NP +jointly RB B-ADVP +, , O +'' '' O +said VBD B-VP +Cotton NNP B-NP +Daly NNP I-NP +, , O +director NN B-NP +of IN B-PP +cargo NN B-NP +services NNS I-NP +for IN B-PP +New NNP B-NP +York NNP I-NP +consulting NN I-NP +firm NN I-NP +Simat NNP I-NP +, , I-NP +Helliesen NNP I-NP +& CC I-NP +Eichner NNP I-NP +Inc NNP I-NP +. . O + +Mr. NNP B-NP +Daly NNP I-NP +said VBD B-VP +such JJ B-NP +discussions NNS I-NP +are VBP B-VP +motivated VBN I-VP +by IN B-PP +the DT B-NP +competitive JJ I-NP +threat NN I-NP +posed VBN B-VP +by IN B-PP +Federal NNP B-NP +Express NNP I-NP +, , O +United NNP B-NP +Parcel NNP I-NP +Service NNP I-NP +of IN B-PP +America NNP B-NP +Inc. NNP I-NP +and CC O +other JJ B-NP +fast-growing JJ I-NP +air-freight NN I-NP +companies NNS I-NP +. . O + +Many JJ B-NP +airlines NNS I-NP +are VBP B-VP +talking VBG I-VP +about IN B-PP +cargo NN B-NP +ventures NNS I-NP +, , O +and CC O +there EX B-NP +have VBP B-VP +been VBN I-VP +rumors NNS B-NP +about IN B-PP +such JJ B-NP +a DT I-NP +tie NN I-NP +between IN B-PP +JAL NNP B-NP +and CC O +European JJ B-NP +airlines NNS I-NP +. . O + +In IN B-PP +Tokyo NNP B-NP +, , O +a DT B-NP +JAL NNP I-NP +spokesman NN I-NP +said VBD B-VP +he PRP B-NP +could MD B-VP +n't RB I-VP +confirm VB I-VP +or CC I-VP +deny VB I-VP +the DT B-NP +latest JJS I-NP +Japanese JJ I-NP +report NN I-NP +. . O + +But CC O +he PRP B-NP +said VBD B-VP +JAL NNP B-NP +is VBZ B-VP +talking VBG I-VP +to TO B-PP +Lufthansa NNP B-NP +and CC O +Air NNP B-NP +France NNP I-NP +about IN B-PP +some DT B-NP +sort NN I-NP +of IN B-PP +cargo NN B-NP +venture NN I-NP +. . O + +`` `` O +It PRP B-NP +is VBZ B-VP +just RB B-NP +one CD I-NP +of IN B-PP +a DT B-NP +number NN I-NP +of IN B-PP +strategies NNS B-NP +JAL NNP B-NP +has VBZ B-VP +embarked VBN I-VP +upon IN B-PP +to TO B-VP +come VB I-VP +to TO B-PP +terms NNS B-NP +with IN B-PP +the DT B-NP +situation NN I-NP +in IN B-PP +Europe NNP B-NP +after IN B-PP +1992 CD B-NP +, , O +'' '' O +the DT B-NP +deadline NN I-NP +for IN B-PP +ending VBG B-VP +trade NN B-NP +barriers NNS I-NP +in IN B-PP +the DT B-NP +EC NNP I-NP +, , O +he PRP B-NP +said VBD B-VP +. . O + +In IN B-PP +Frankfurt NNP B-NP +, , O +a DT B-NP +Lufthansa NNP I-NP +spokesman NN I-NP +confirmed VBD B-VP +talks NNS B-NP +are VBP B-VP +under IN B-PP +way NN B-NP +, , O +but CC O +declined VBD B-VP +to TO I-VP +comment VB I-VP +. . O + +A DT B-NP +Lufthansa NNP I-NP +spokeswoman NN I-NP +in IN B-PP +Tokyo NNP B-NP +said VBD B-VP +the DT B-NP +head NN I-NP +of IN B-PP +Lufthansa NNP B-NP +'s POS B-NP +cargo NN I-NP +operations NNS I-NP +had VBD B-VP +been VBN I-VP +in IN B-PP +Toyko NNP B-NP +last JJ B-NP +week NN I-NP +for IN B-PP +talks NNS B-NP +with IN B-PP +JAL NNP B-NP +. . O + +In IN B-PP +Paris NNP B-NP +, , O +Air NNP B-NP +France NNP I-NP +declined VBD B-VP +to TO I-VP +comment VB I-VP +. . O + +`` `` O +Nothing NN B-NP +is VBZ B-VP +defined VBN I-VP +or CC I-VP +signed VBN I-VP +at IN B-PP +this DT B-NP +point NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Daly NNP I-NP +said VBD B-VP +of IN B-PP +the DT B-NP +talks NNS I-NP +. . O + +Whatever WDT B-NP +accord VBP I-NP +the DT B-NP +three CD I-NP +carriers NNS I-NP +reach VBP B-VP +, , O +he PRP B-NP +said VBD B-VP +, , O +he PRP B-NP +is VBZ B-VP +skeptical JJ B-ADJP +it PRP B-NP +would MD B-VP +create VB I-VP +a DT B-NP +separate JJ I-NP +airline NN I-NP +. . O + +If IN B-SBAR +the DT B-NP +three CD I-NP +companies NNS I-NP +pool VBP B-VP +their PRP$ B-NP +air-freight NN I-NP +businesses NNS I-NP +, , O +their PRP$ B-NP +clout NN I-NP +would MD B-VP +be VB I-VP +considerable JJ B-ADJP +. . O + +According VBG B-PP +to TO B-PP +figures NNS B-NP +from IN B-PP +the DT B-NP +International NNP I-NP +Air NNP I-NP +Transport NNP I-NP +Association NNP I-NP +, , O +they PRP B-NP +carried VBD B-VP +a DT B-NP +combined VBN I-NP +1.8 CD I-NP +million CD I-NP +tons NNS I-NP +of IN B-PP +freight NN B-NP +last JJ B-NP +year NN I-NP +. . O + +Federal NNP B-NP +Express NNP I-NP +and CC O +Flying NNP B-NP +Tiger NNP I-NP +, , O +as IN B-PP +separate JJ B-NP +companies NNS I-NP +, , O +carried VBD B-VP +a DT B-NP +combined VBN I-NP +2.6 CD I-NP +million CD I-NP +tons NNS I-NP +. . O + +Air NNP B-NP +France NNP I-NP +and CC O +Lufthansa NNP B-NP +last JJ B-NP +month NN I-NP +concluded VBD B-VP +a DT B-NP +far-reaching JJ I-NP +cooperation NN I-NP +accord NN I-NP +that WDT B-NP +includes VBZ B-VP +air-freight NN B-NP +activities NNS I-NP +. . O + +They PRP B-NP +plan VBP B-VP +to TO I-VP +increase VB I-VP +cooperation NN B-NP +in IN B-PP +freight NN B-NP +ground-handling NNS I-NP +and CC O +create VB B-VP +a DT B-NP +world-wide JJ I-NP +computer NN I-NP +system NN I-NP +to TO B-VP +process VB I-VP +cargo NN B-NP +. . O + +Other JJ B-NP +airlines NNS I-NP +would MD B-VP +have VB I-VP +access NN B-NP +to TO B-PP +the DT B-NP +system NN I-NP +, , O +they PRP B-NP +said VBD B-VP +, , O +and CC O +negotiations NNS B-NP +with IN B-PP +partners NNS B-NP +were VBD B-VP +already RB B-ADVP +under IN B-PP +way NN B-NP +. . O + +Both DT B-NP +European JJ I-NP +airlines NNS I-NP +operate VBP B-VP +extensive JJ B-NP +fleets NNS I-NP +of IN B-PP +Boeing NNP B-NP +747 CD I-NP +freighters NNS I-NP +and CC O +747 CD B-NP +Combis NNPS I-NP +, , O +aircraft NN B-NP +that WDT B-NP +carry VBP B-VP +both DT B-NP +freight NN I-NP +and CC I-NP +passengers NNS I-NP +on IN B-PP +the DT B-NP +main JJ I-NP +deck NN I-NP +. . O + +They PRP B-NP +currently RB B-ADVP +have VBP B-VP +large JJ B-NP +orders NNS I-NP +for IN B-PP +cargo NN B-NP +planes NNS I-NP +. . O + +Several JJ B-NP +airlines NNS I-NP +, , O +including VBG B-PP +Lufthansa NNP B-NP +, , O +JAL NNP B-NP +and CC O +Cathay NNP B-NP +Pacific NNP I-NP +Airways NNPS I-NP +, , O +are VBP B-VP +working VBG I-VP +on IN B-PP +a DT B-NP +so-called JJ I-NP +global JJ I-NP +cargo NN I-NP +system NN I-NP +and CC O +are VBP B-VP +trying VBG I-VP +to TO I-VP +attract VB I-VP +other JJ B-NP +carriers NNS I-NP +to TO B-VP +join VB I-VP +, , O +Mr. NNP B-NP +Daly NNP I-NP +said VBD B-VP +. . O + +JAL NNP B-NP +also RB B-ADVP +has VBZ B-VP +signaled VBN I-VP +it PRP B-NP +is VBZ B-VP +looking VBG I-VP +for IN B-PP +toeholds NNS B-NP +in IN B-PP +Europe NNP B-NP +before IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +1992 CD B-NP +. . O + +Last JJ B-NP +month NN I-NP +, , O +the DT B-NP +carrier NN I-NP +said VBD B-VP +it PRP B-NP +wanted VBD B-VP +to TO I-VP +lease VB I-VP +crews NNS B-NP +and CC I-NP +planes NNS I-NP +from IN B-PP +British JJ B-NP +Airways NNPS I-NP +so IN B-SBAR +it PRP B-NP +could MD B-VP +funnel VB I-VP +its PRP$ B-NP +passengers NNS I-NP +from IN B-PP +London NNP B-NP +to TO B-PP +other JJ B-NP +European JJ I-NP +destinations NNS I-NP +. . O + +British JJ B-NP +Airways NNPS I-NP +said VBD B-VP +it PRP B-NP +has VBZ B-VP +n't RB I-VP +received VBN I-VP +a DT B-NP +proposal NN I-NP +from IN B-PP +JAL NNP B-NP +. . O + +But CC O +last JJ B-NP +week NN I-NP +there EX B-NP +were VBD B-VP +air-traffic NN B-NP +negotiations NNS I-NP +between IN B-PP +the DT B-NP +U.K. NNP I-NP +and CC O +Japan NNP B-NP +, , O +a DT B-NP +likely JJ I-NP +first JJ I-NP +step NN I-NP +to TO B-PP +any DT B-NP +commercial JJ I-NP +agreement NN I-NP +between IN B-PP +JAL NNP B-NP +and CC O +British JJ B-NP +Airways NNPS I-NP +or CC O +another DT B-NP +U.K. NNP I-NP +carrier NN I-NP +. . O + +Federal NNP B-NP +Paper NNP I-NP +Board NNP I-NP +Co. NNP I-NP +said VBD B-VP +it PRP B-NP +completed VBD B-VP +the DT B-NP +previously RB I-NP +announced VBN I-NP +purchase NN I-NP +of IN B-PP +Imperial NNP B-NP +Cup NNP I-NP +Corp. NNP I-NP +, , O +a DT B-NP +closely RB I-NP +held VBN I-NP +maker NN I-NP +of IN B-PP +paper NN B-NP +cups NNS I-NP +based VBN B-VP +in IN B-PP +Kenton NNP B-NP +, , O +Ohio NNP B-NP +. . O + +Terms NNS B-NP +were VBD B-VP +n't RB I-VP +disclosed VBN I-VP +. . O + +Imperial NNP B-NP +Cup NNP I-NP +has VBZ B-VP +annual JJ B-NP +sales NNS I-NP +of IN B-PP +approximately RB B-NP +$ $ I-NP +75 CD I-NP +million CD I-NP +. . O + +Federal NNP B-NP +Paper NNP I-NP +Board NNP I-NP +sells VBZ B-VP +paper NN B-NP +and CC I-NP +wood NN I-NP +products NNS I-NP +. . O + +In IN B-PP +a DT B-NP +move NN I-NP +to TO B-VP +prevent VB I-VP +any DT B-NP +dislocation NN I-NP +in IN B-PP +the DT B-NP +financial JJ I-NP +markets NNS I-NP +from IN B-PP +the DT B-NP +California NNP I-NP +earthquake NN I-NP +, , O +the DT B-NP +Securities NNPS I-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +said VBD B-VP +it PRP B-NP +temporarily RB B-ADVP +reassigned VBD B-VP +options NNS B-NP +listed VBN B-VP +on IN B-PP +the DT B-NP +Pacific NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +to TO B-PP +the DT B-NP +American NNP I-NP +, , I-NP +New NNP I-NP +York NNP I-NP +and CC I-NP +Philadelphia NNP I-NP +stock NN I-NP +exchanges NNS I-NP +and CC B-PP +to TO B-PP +the DT B-NP +Chicago NNP I-NP +Board NNP I-NP +Options NNP I-NP +Exchange NNP I-NP +. . O + +The DT B-NP +decision NN I-NP +, , O +which WDT B-NP +affects VBZ B-VP +millions NNS B-NP +of IN B-PP +dollars NNS B-NP +of IN B-PP +trading NN B-NP +positions NNS I-NP +, , O +was VBD B-VP +made VBN I-VP +late JJ B-NP +yesterday NN I-NP +because IN B-SBAR +the DT B-NP +Pacific NNP I-NP +exchange NN I-NP +'s POS B-NP +options NNS I-NP +floor NN I-NP +was VBD B-VP +shut VBN I-VP +down RB B-PRT +as IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +Tuesday NNP B-NP +'s POS B-NP +earthquake NN I-NP +. . O + +The DT B-NP +SEC NNP I-NP +, , O +faced VBN B-VP +with IN B-PP +a DT B-NP +major JJ I-NP +squeeze NN I-NP +on IN B-PP +options NNS B-NP +positions NNS I-NP +, , O +said VBD B-VP +it PRP B-NP +was VBD B-VP +necessary JJ B-ADJP +to TO B-VP +ensure VB I-VP +that IN B-SBAR +options NNS B-NP +listed VBN B-VP +on IN B-PP +the DT B-NP +exchange NN I-NP +could MD B-VP +be VB I-VP +traded VBN I-VP +today NN B-NP +and CC I-NP +tomorrow NN I-NP +. . O + +SEC NNP B-NP +Chairman NNP I-NP +Richard NNP I-NP +Breeden NNP I-NP +said VBD B-VP +the DT B-NP +cooperation NN I-NP +by IN B-PP +the DT B-NP +exchanges NNS I-NP +would MD B-VP +enable VB I-VP +investors NNS B-NP +to TO B-VP +buy VB I-VP +and CC I-VP +sell VB I-VP +options NNS B-NP +listed VBN B-VP +solely RB B-ADVP +on IN B-PP +the DT B-NP +Pacific NNP I-NP +exchange NN I-NP +, , O +guaranteeing VBG B-VP +the DT B-NP +liquidity NN I-NP +of IN B-PP +the DT B-NP +market NN I-NP +. . O + +Officials NNS B-NP +at IN B-PP +the DT B-NP +four CD I-NP +exchanges NNS I-NP +said VBD B-VP +well RB B-NP +over IN I-NP +50 CD I-NP +traders NNS I-NP +from IN B-PP +the DT B-NP +Pacific NNP I-NP +exchange NN I-NP +were VBD B-VP +taking VBG I-VP +flights NNS B-NP +from IN B-PP +San NNP B-NP +Francisco NNP I-NP +late JJ B-NP +yesterday NN I-NP +to TO B-PP +the DT B-NP +American NNP I-NP +, , I-NP +New NNP I-NP +York NNP I-NP +and CC I-NP +Philadelphia NNP I-NP +exchanges NNS I-NP +and CC B-PP +to TO B-PP +the DT B-NP +CBOE NNP I-NP +, , O +where WRB B-ADVP +they PRP B-NP +would MD B-VP +continue VB I-VP +making VBG I-VP +markets NNS B-NP +in IN B-PP +the DT B-NP +Pacific-listed JJ I-NP +options NNS I-NP +. . O + +The DT B-NP +Big NNP I-NP +Board NNP I-NP +said VBD B-VP +carpenters NNS B-NP +quickly RB B-VP +erected VBN I-VP +a DT B-NP +new JJ I-NP +options NNS I-NP +floor NN I-NP +to TO B-VP +accomodate VB I-VP +40 CD B-NP +traders NNS I-NP +from IN B-PP +the DT B-NP +Pacific NNP I-NP +exchange NN I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +specialists NNS B-NP +on IN B-PP +the DT B-NP +exchanges NNS I-NP +agreed VBD B-VP +to TO I-VP +provide VB I-VP +backup NN B-NP +capital NN I-NP +for IN B-PP +market-making NN B-NP +in IN B-PP +Pacific NNP B-NP +exchange NN I-NP +options NNS I-NP +traded VBN B-VP +on IN B-PP +the DT B-NP +exchanges NNS I-NP +. . O + +Trading NN B-NP +was VBD B-VP +light NN B-ADJP +on IN B-PP +the DT B-NP +Pacific NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +yesterday NN B-NP +, , O +with IN B-PP +workers NNS B-NP +at IN B-PP +the DT B-NP +exchange NN I-NP +'s POS B-NP +main JJ I-NP +floor NN I-NP +in IN B-PP +San NNP B-NP +Francisco NNP I-NP +struggling VBG B-VP +to TO I-VP +execute VB I-VP +orders NNS B-NP +by IN B-PP +flashlight NN B-NP +as IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +a DT B-NP +continuing VBG I-NP +power NN I-NP +outage NN I-NP +. . O + +The DT B-NP +most RBS I-NP +pressing VBG I-NP +problem NN I-NP +was VBD B-VP +the DT B-NP +suspension NN I-NP +of IN B-PP +options NNS B-NP +trading NN I-NP +. . O + +The DT B-NP +Pacific NNP I-NP +exchange NN I-NP +has VBZ B-VP +options NNS B-NP +for IN B-PP +129 CD B-NP +underlying VBG I-NP +stock NN I-NP +issues NNS I-NP +, , O +including VBG B-PP +highly RB B-NP +active JJ I-NP +Hilton NNP I-NP +Hotels NNP I-NP +Corp. NNP I-NP +, , O +which WDT B-NP +is VBZ B-VP +listed VBN I-VP +on IN B-PP +the DT B-NP +Big NNP I-NP +Board NNP I-NP +. . O + +Investors NNS B-NP +were VBD B-VP +concerned VBN B-ADJP +that IN B-SBAR +they PRP B-NP +might MD B-VP +be VB I-VP +unable JJ B-ADJP +to TO B-VP +exercise VB I-VP +options NNS B-NP +that WDT B-NP +expire VBP B-VP +tomorrow NN B-NP +. . O + +But CC O +professionals NNS B-NP +said VBD B-VP +throughout IN B-PP +the DT B-NP +day NN I-NP +that IN B-SBAR +the DT B-NP +shutdown NN I-NP +would MD B-VP +n't RB I-VP +be VB I-VP +a DT B-NP +cause NN I-NP +for IN B-PP +alarm NN B-NP +even RB B-SBAR +if IN I-SBAR +it PRP B-NP +were VBD B-VP +to TO I-VP +persist VB I-VP +for IN B-PP +several JJ B-NP +days NNS I-NP +. . O + +`` `` O +I PRP B-NP +'ve VBP B-VP +told VBD I-VP +my PRP$ B-NP +staff NN I-NP +and CC I-NP +clients NNS I-NP +that IN B-SBAR +they PRP B-NP +still RB B-ADVP +have VBP B-VP +the DT B-NP +ability NN I-NP +to TO B-VP +exercise VB I-VP +their PRP$ B-NP +options NNS I-NP +, , O +because IN B-SBAR +they PRP B-NP +are VBP B-VP +guaranteed VBN I-VP +by IN B-PP +the DT B-NP +Options NNP I-NP +Clearing NNP I-NP +Corp. NNP I-NP +, , O +'' '' O +said VBD B-VP +Michael NNP B-NP +Schwartz NNP I-NP +, , O +a DT B-NP +senior JJ I-NP +registered VBN I-NP +options NNS I-NP +strategist NN I-NP +at IN B-PP +Oppenheimer NNP B-NP +& CC I-NP +Co NNP I-NP +. . O + +The DT B-NP +SEC NNP I-NP +reassigned VBD B-VP +trading NN B-NP +in IN B-PP +the DT B-NP +options NNS I-NP +, , O +however RB B-ADVP +, , O +to TO B-VP +allow VB I-VP +investors NNS B-NP +to TO B-VP +do VB I-VP +more JJR B-NP +than IN B-SBAR +simply JJ B-ADVP +exercise NN B-VP +the DT B-NP +options NNS I-NP +. . O + +While IN B-SBAR +the DT B-NP +exchange NN I-NP +'s POS B-NP +equities NNS I-NP +floor NN I-NP +in IN B-PP +San NNP B-NP +Francisco NNP I-NP +remained VBD B-VP +open JJ B-ADJP +on IN B-PP +a DT B-NP +limited JJ I-NP +basis NN I-NP +, , O +orders NNS B-NP +were VBD B-VP +being VBG I-VP +routed VBN I-VP +and CC I-VP +executed VBN I-VP +in IN B-PP +Los NNP B-NP +Angeles NNP I-NP +. . O + +Workers NNS B-NP +could MD B-VP +dial VB I-VP +out IN B-ADVP +, , O +but CC O +they PRP B-NP +could MD B-VP +n't RB I-VP +receive VB I-VP +telephone NN B-NP +calls NNS I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +a DT B-NP +very RB I-NP +uncertain JJ I-NP +situation NN I-NP +right RB B-ADVP +now RB I-ADVP +, , O +'' '' O +said VBD B-VP +Navin NNP B-NP +Vyas NNP I-NP +, , O +administrative JJ B-NP +assistant NN I-NP +of IN B-PP +trading NN B-NP +floor NN I-NP +operations NNS I-NP +of IN B-PP +the DT B-NP +exchange NN I-NP +, , O +which WDT B-NP +has VBZ B-VP +daily JJ B-NP +volume NN I-NP +of IN B-PP +about IN B-NP +10 CD I-NP +million CD I-NP +shares NNS I-NP +. . O + +Because IN B-SBAR +the DT B-NP +exchange NN I-NP +'s POS B-NP +computer NN I-NP +was VBD B-VP +rerouting VBG I-VP +orders NNS B-NP +to TO B-PP +the DT B-NP +exchange NN I-NP +'s POS B-NP +trading NN I-NP +operations NNS I-NP +in IN B-PP +Los NNP B-NP +Angeles NNP I-NP +, , O +`` `` O +business NN B-NP +is VBZ B-VP +as IN B-PP +usual JJ B-ADJP +'' '' O +Mr. NNP B-NP +Vyas NNP I-NP +said VBD B-VP +. . O + +`` `` O +If IN B-SBAR +one CD B-NP +city NN I-NP +is VBZ B-VP +down RB B-ADJP +, , O +the DT B-NP +other NN I-NP +can MD B-VP +take VB I-VP +over IN B-PRT +. . O +'' '' O + +Meanwhile RB B-ADVP +, , O +the DT B-NP +brokerage NN I-NP +firms NNS I-NP +in IN B-PP +San NNP B-NP +Francisco NNP I-NP +were VBD B-VP +trying VBG I-VP +to TO I-VP +cope VB I-VP +. . O + +Charles NNP B-NP +Daggs NNP I-NP +, , O +chairman NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +of IN B-PP +Sutro NNP B-NP +& CC I-NP +Co. NNP I-NP +, , O +said VBD B-VP +traders NNS B-NP +came VBD B-VP +to TO B-PP +work VB B-NP +at IN B-PP +5 NN B-NP +a.m. NN I-NP +PDT NNP I-NP +-- : O +many JJ B-NP +on IN B-PP +foot NN B-NP +because IN B-PP +of IN I-PP +uncertain JJ B-NP +road NN I-NP +and CC I-NP +traffic NN I-NP +conditions NNS I-NP +-- : O +but CC O +learned VBD B-VP +that IN B-SBAR +they PRP B-NP +would MD B-VP +have VB I-VP +to TO I-VP +await VB I-VP +a DT B-NP +required VBN I-NP +inspection NN I-NP +by IN B-PP +the DT B-NP +city NN I-NP +in IN B-SBAR +order NN O +to TO B-VP +turn VB I-VP +the DT B-NP +power NN I-NP +back RB B-ADVP +on IN B-PRT +at IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +two CD I-NP +main JJ I-NP +facilities NNS I-NP +there RB I-NP +. . O + +That DT B-NP +should MD B-VP +happen VB I-VP +by IN B-PP +today NN B-NP +, , O +he PRP B-NP +said VBD B-VP +. . O + +Traders NNS B-NP +worked VBD B-VP +with IN B-PP +the DT B-NP +help NN I-NP +of IN B-PP +sunlight NN B-NP +streaming VBG B-VP +through IN B-PP +windows NNS B-NP +, , O +despite IN B-PP +large JJ B-NP +cracks NNS I-NP +in IN B-PP +the DT B-NP +walls NNS I-NP +and CC O +a DT B-NP +lack NN I-NP +of IN B-PP +incoming JJ B-NP +phone NN I-NP +calls NNS I-NP +. . O + +Also RB B-ADVP +, , O +most RBS B-NP +of IN B-PP +the DT B-NP +telecommunications NNS I-NP +equipment NN I-NP +was VBD B-VP +out RB B-ADJP +. . O + +The DT B-NP +traders NNS I-NP +were VBD B-VP +executing VBG I-VP +municipal JJ B-NP +bond NN I-NP +, , O +mutual JJ B-NP +fund NN I-NP +and CC O +other JJ B-NP +orders NNS B-NP +through IN B-PP +a DT B-NP +sister NN I-NP +firm NN I-NP +, , O +Tucker NNP B-NP +Anthony NNP I-NP +Inc. NNP I-NP +, , O +which WDT B-NP +is VBZ B-VP +also RB I-VP +owned VBN I-VP +by IN B-PP +John NNP B-NP +Hancock NNP I-NP +Freedom NNP I-NP +Securities NNPS I-NP +but CC O +is VBZ B-VP +based VBN I-VP +in IN B-PP +New NNP B-NP +York NNP I-NP +. . O + +`` `` O +We PRP B-NP +are VBP B-VP +having VBG I-VP +a DT B-NP +regular JJ I-NP +day NN I-NP +. . O + +Volume NN B-NP +is VBZ B-VP +down RB B-ADVP +out IN B-PP +of IN B-PP +San NNP B-NP +Francisco NNP I-NP +, , B-PP +but CC I-PP +not RB I-PP +out IN B-PP +of IN B-PP +the DT B-NP +11 CD I-NP +outlying JJ I-NP +offices NNS I-NP +, , O +'' '' O +Mr. NNP B-NP +Daggs NNP I-NP +added VBD B-VP +. . O + +Sutro NNP B-NP +'s POS B-NP +Oakland NNP I-NP +office NN I-NP +executed VBD B-VP +orders NNS B-NP +through IN B-PP +the DT B-NP +Sacramento NNP I-NP +office NN I-NP +, , O +which WDT B-NP +was VBD B-VP +n't RB I-VP +affected VBN I-VP +by IN B-PP +the DT B-NP +quake NN I-NP +. . O + +Others NNS B-NP +, , O +like IN B-PP +Prudential-Bache NNP B-NP +Securities NNP I-NP +Inc. NNP I-NP +, , O +which WDT B-NP +has VBZ B-VP +eight CD B-NP +offices NNS I-NP +in IN B-PP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +area NN I-NP +, , O +set VBN B-VP +up IN B-PRT +an DT B-NP +800 CD I-NP +number NN I-NP +yesterday NN B-NP +morning NN I-NP +for IN B-SBAR +customers NNS B-NP +to TO B-VP +obtain VB I-VP +market NN B-NP +commentary NN I-NP +and CC O +other JJ B-NP +help NN I-NP +. . O + +At IN B-PP +Kidder NNP B-NP +, , I-NP +Peabody NNP I-NP +& CC I-NP +Co. NNP I-NP +'s POS B-NP +Sacramento NNP I-NP +branch NN I-NP +, , O +Manager NNP B-NP +Janet NNP I-NP +White NNP I-NP +received VBD B-VP +calls VBZ B-NP +yesterday NN B-NP +morning NN I-NP +from IN B-PP +workers NNS B-NP +in IN B-PP +San NNP B-NP +Francisco NNP I-NP +who WP B-NP +offered VBD B-VP +to TO I-VP +work VB I-VP +in IN B-PP +Sacramento NNP B-NP +. . O + +Then RB O +she PRP B-NP +discovered VBD B-VP +that IN B-SBAR +Quotron NNP B-NP +Systems NNP I-NP +Inc. NNP I-NP +'s POS B-NP +Sacramento NNP I-NP +lines NNS I-NP +were VBD B-VP +down RB B-ADJP +, , O +because IN B-SBAR +they PRP B-NP +are VBP B-VP +normally RB I-VP +tied VBN I-VP +in IN B-ADVP +through IN B-PP +a DT B-NP +system NN I-NP +that WDT B-NP +goes VBZ B-VP +through IN B-PP +San NNP B-NP +Francisco NNP I-NP +. . O + +So RB O +the DT B-NP +Kidder NNP I-NP +brokers NNS I-NP +had VBD B-VP +to TO I-VP +call VB I-VP +other JJ B-NP +company NN I-NP +offices NNS I-NP +to TO B-VP +get VB I-VP +quotes NNS B-NP +on IN B-PP +stocks NNS B-NP +. . O + +At IN B-PP +Quotron NNP B-NP +, , O +the DT B-NP +company NN I-NP +'s POS B-NP +National NNP I-NP +Call-In NN I-NP +Center NNP I-NP +, , O +which WDT B-NP +swung VBD B-VP +into IN B-PP +action NN B-NP +for IN B-PP +the DT B-NP +first JJ I-NP +time NN I-NP +last JJ B-NP +month NN I-NP +for IN B-PP +Hurricane NNP B-NP +Hugo NNP I-NP +, , O +assembled VBD B-VP +a DT B-NP +tactical JJ I-NP +team NN I-NP +at IN B-PP +5 NN B-NP +a.m. NN I-NP +yesterday NN B-NP +to TO B-VP +begin VB I-VP +rerouting VBG I-VP +lines NNS B-NP +and CC O +restore VB B-VP +service NN B-NP +to TO B-PP +brokers NNS B-NP +and CC I-NP +traders NNS I-NP +. . O + +The DT B-NP +company NN I-NP +dispatched VBD B-VP +as RB B-NP +many JJ I-NP +as IN I-NP +200 CD I-NP +people NNS I-NP +in IN B-PP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +area NN I-NP +to TO B-VP +do VB I-VP +the DT B-NP +work NN I-NP +, , O +though IN B-SBAR +most RBS B-NP +of IN B-PP +the DT B-NP +rerouting VBG I-NP +was VBD B-VP +done VBN I-VP +by IN B-PP +computer NN B-NP +. . O + +Service NNP B-NP +appeared VBD B-VP +to TO I-VP +be VB I-VP +down RB B-ADJP +throughout IN B-PP +the DT B-NP +financial JJ I-NP +district NN I-NP +in IN B-PP +downtown NN B-NP +San NNP I-NP +Francisco NNP I-NP +, , O +while IN B-SBAR +just RB B-NP +parts NNS I-NP +of IN B-PP +Oakland NNP B-NP +and CC O +San NNP B-NP +Jose NNP I-NP +were VBD B-VP +knocked VBN I-VP +out RB B-PRT +. . O + +But CC O +Dale NNP B-NP +Irvine NNP I-NP +, , O +director NN B-NP +of IN B-PP +the DT B-NP +emergency NN I-NP +center NN I-NP +, , O +said VBD B-VP +service NN B-NP +was VBD B-VP +being VBG I-VP +restored VBN I-VP +to TO B-PP +outlying JJ B-NP +San NNP I-NP +Francisco NNP I-NP +areas NNS I-NP +. . O + +In IN B-PP +Chicago NNP B-NP +yesterday NN B-NP +, , O +Options NNP B-NP +Clearing NNP I-NP +confirmed VBD B-VP +that IN B-SBAR +it PRP B-NP +guarantees VBZ B-VP +the DT B-NP +Pacific NNP I-NP +exchange NN I-NP +options NNS I-NP +. . O + +The DT B-NP +firm NN I-NP +also RB B-ADVP +will MD B-VP +permit VB I-VP +its PRP$ B-NP +members NNS I-NP +and CC O +the DT B-NP +public JJ I-NP +`` `` O +to TO B-VP +exercise VB I-VP +their PRP$ B-NP +put NN I-NP +and CC I-NP +call VB I-NP +options NNS I-NP +contracts NNS I-NP +traded VBN B-VP +on IN B-PP +the DT B-NP +Pacific NNP I-NP +exchange NN I-NP +'' '' O +even RB B-SBAR +if IN I-SBAR +the DT B-NP +exchange NN I-NP +is VBZ B-VP +closed VBN B-ADJP +, , O +said VBD B-VP +Wayne NNP B-NP +Luthringshausen NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +Options NNP B-NP +Clearing NNP I-NP +. . O + +-LRB- ( O +Put VB B-NP +options NNS I-NP +give VB B-VP +holders NNS B-NP +the DT B-NP +right NN I-NP +, , B-NP +but CC I-NP +not RB I-NP +the DT B-NP +obligation NN I-NP +, , O +to TO B-VP +sell VB I-VP +a DT B-NP +financial JJ I-NP +instrument NN I-NP +at IN B-PP +a DT B-NP +specified VBN I-NP +price NN I-NP +, , O +while IN B-SBAR +call NN B-NP +options NNS I-NP +give VBP B-VP +holders NNS B-NP +the DT B-NP +right NN I-NP +, , B-NP +but CC I-NP +not RB I-NP +the DT B-NP +obligation NN I-NP +, , O +to TO B-VP +buy VB I-VP +a DT B-NP +financial JJ I-NP +instrument NN I-NP +at IN B-PP +a DT B-NP +specified VBN I-NP +price NN I-NP +-RRB- ) O +. . O + +Investors NNS B-NP +and CC I-NP +traders NNS I-NP +in IN B-PP +Pacific NNP B-NP +exchange NN I-NP +options NNS I-NP +`` `` O +are VBP B-VP +protected VBN I-VP +to TO B-PP +the DT B-NP +extent NN I-NP +that IN B-SBAR +they PRP B-NP +can MD B-VP +convert VB I-VP +their PRP$ B-NP +put NN I-NP +and CC I-NP +call VB I-NP +options NNS I-NP +into IN B-PP +the DT B-NP +underlying VBG I-NP +instrument NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Luthringshausen NNP I-NP +said VBD B-VP +. . O + +`` `` O +We PRP B-NP +are VBP B-VP +seeing VBG I-VP +such JJ B-NP +exercises NNS I-NP +today NN B-NP +, , O +in IN B-PP +fact NN B-NP +. . O + +International NNP B-NP +Business NNP I-NP +Machines NNP I-NP +Corp. NNP I-NP +said VBD B-VP +its PRP$ B-NP +board NN I-NP +approved VBD B-VP +the DT B-NP +purchase NN I-NP +of IN B-PP +$ $ B-NP +1 CD I-NP +billion CD I-NP +of IN B-PP +its PRP$ B-NP +common JJ I-NP +shares NNS I-NP +, , O +a DT B-NP +move NN I-NP +that WDT B-NP +should MD B-VP +help VB I-VP +support VB I-VP +its PRP$ B-NP +battered VBN I-NP +stock NN I-NP +. . O + +Even RB B-SBAR +as IN I-SBAR +the DT B-NP +stock NN I-NP +market NN I-NP +has VBZ B-VP +generally RB I-VP +done VBN I-VP +well RB B-ADVP +this DT B-NP +year NN I-NP +, , O +IBM NNP B-NP +'s POS B-NP +shares NNS I-NP +have VBP B-VP +slipped VBN I-VP +steadily RB B-ADVP +from IN B-PP +its PRP$ B-NP +52-week JJ I-NP +high NN I-NP +of IN B-PP +$ $ B-NP +130.875 CD I-NP +. . O + +Yesterday NN B-NP +'s POS B-NP +closing VBG I-NP +price NN I-NP +of IN B-PP +$ $ B-NP +101.75 CD I-NP +, , O +down RB B-ADVP +50 CD B-NP +cents NNS I-NP +, , O +in IN B-PP +composite JJ B-NP +trading NN I-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +, , O +puts VBZ B-VP +the DT B-NP +stock NN I-NP +at IN B-PP +about IN B-NP +1 CD I-NP +1\/2 CD I-NP +times NNS I-NP +book NN I-NP +value NN I-NP +, , O +which WDT B-NP +is VBZ B-VP +as RB B-ADJP +low JJ I-ADJP +as IN B-SBAR +it PRP B-NP +has VBZ B-VP +sunk VBN I-VP +over IN B-PP +the DT B-NP +past JJ I-NP +decade NN I-NP +. . O + +The DT B-NP +announcement NN I-NP +came VBD B-VP +after IN B-PP +the DT B-NP +market NN I-NP +'s POS B-NP +close NN I-NP +. . O + +The DT B-NP +move NN I-NP +by IN B-PP +IBM NNP B-NP +was VBD B-VP +n't RB O +exactly RB B-ADVP +a DT B-NP +surprise NN I-NP +. . O + +The DT B-NP +company NN I-NP +has VBZ B-VP +spent VBN I-VP +some DT B-NP +$ $ I-NP +5 NN I-NP +billion CD I-NP +over IN B-PP +the DT B-NP +past JJ I-NP +3 CD I-NP +1\/2 CD I-NP +years NNS I-NP +to TO B-VP +buy VB I-VP +back RB B-ADVP +42 CD B-NP +million CD I-NP +common JJ I-NP +shares NNS I-NP +, , O +or CC O +roughly RB B-NP +7 CD I-NP +% NN I-NP +of IN B-PP +those DT B-NP +outstanding JJ B-ADJP +. . O + +In IN B-PP +addition NN B-NP +, , O +despite IN B-PP +IBM NNP B-NP +'s POS B-NP +well-publicized JJ I-NP +recent JJ I-NP +problems NNS I-NP +, , O +the DT B-NP +computer NN I-NP +giant NN I-NP +still RB B-ADVP +generates VBZ B-VP +enormous JJ B-NP +amounts NNS I-NP +of IN B-PP +cash NN B-NP +. . O + +As IN B-PP +of IN B-PP +the DT B-NP +end NN I-NP +of IN B-PP +the DT B-NP +second JJ I-NP +quarter NN I-NP +, , O +it PRP B-NP +had VBD B-VP +$ $ B-NP +4.47 CD I-NP +billion CD I-NP +of IN B-PP +cash NN B-NP +and CC O +marketable JJ B-NP +securities NNS I-NP +on IN B-PP +hand NN B-NP +. . O + +As IN B-PP +a DT B-NP +result NN I-NP +, , O +some DT B-NP +securities NNS I-NP +analysts NNS I-NP +had VBD B-VP +predicted VBN I-VP +in IN B-PP +recent JJ B-NP +days NNS I-NP +that IN B-SBAR +IBM NNP B-NP +would MD B-VP +authorize VB I-VP +additional JJ B-NP +purchases NNS I-NP +. . O + +In IN B-PP +Armonk NNP B-NP +, , O +N.Y. NNP B-NP +, , O +a DT B-NP +spokesman NN I-NP +said VBD B-VP +that IN B-SBAR +although IN B-SBAR +IBM NNP B-NP +did VBD B-VP +n't RB I-VP +view VB I-VP +its PRP$ B-NP +spending NN I-NP +as IN B-PP +necessarily RB B-NP +a DT I-NP +way NN I-NP +to TO B-VP +support VB I-VP +the DT B-NP +stock NN I-NP +, , O +it PRP B-NP +thought VBD B-VP +the DT B-NP +purchases NNS I-NP +were VBD B-VP +a DT B-NP +good JJ I-NP +way NN I-NP +to TO B-VP +improve VB I-VP +such JJ B-NP +financial JJ I-NP +measurements NNS I-NP +as IN B-PP +per-share JJ B-NP +earnings NNS I-NP +and CC O +return NN B-NP +on IN B-PP +equity NN B-NP +. . O + +`` `` O +We PRP B-NP +view VBP B-VP +it PRP B-NP +as IN B-PP +a DT B-NP +good JJ I-NP +long-term JJ I-NP +investment NN I-NP +, , O +'' '' O +the DT B-NP +spokesman NN I-NP +said VBD B-VP +. . O + +In IN B-PP +the DT B-NP +short JJ I-NP +term NN I-NP +, , O +the DT B-NP +move NN I-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +have VB I-VP +little JJ B-NP +effect NN I-NP +. . O + +At IN B-PP +yesterday NN B-NP +'s POS B-NP +closing VBG I-NP +price NN I-NP +, , O +$ $ B-NP +1 CD I-NP +billion CD I-NP +would MD B-VP +buy VB I-VP +back RB B-ADVP +about IN B-NP +10 CD I-NP +million CD I-NP +shares NNS I-NP +, , O +or CC O +less JJR B-NP +than IN I-NP +2 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +roughly RB I-NP +580 CD I-NP +million CD I-NP +outstanding JJ B-ADJP +. . O + +In IN B-PP +addition NN B-NP +, , O +as IN B-PP +of IN B-PP +Sept. NNP B-NP +30 CD I-NP +, , O +the DT B-NP +company NN I-NP +still RB B-ADVP +had VBD B-VP +authorization NN B-NP +to TO B-VP +buy VB I-VP +$ $ B-NP +368 CD I-NP +million CD I-NP +of IN B-PP +stock NN B-NP +under IN B-PP +a DT B-NP +prior JJ I-NP +repurchase NN I-NP +program NN I-NP +. . O + +Over IN B-PP +the DT B-NP +long JJ I-NP +term NN I-NP +, , O +however RB B-ADVP +, , O +IBM NNP B-NP +'s POS B-NP +stock NN I-NP +repurchases NNS I-NP +-- : O +along IN B-PP +with IN B-PP +its PRP$ B-NP +hefty JJ I-NP +, , I-NP +$ $ I-NP +4.84-a-share CD I-NP +annual JJ I-NP +dividend NN I-NP +and CC O +generally RB B-NP +loyal JJ I-NP +following NN I-NP +among IN B-PP +large JJ B-NP +institutional JJ I-NP +investors NNS I-NP +-- : O +are VBP B-VP +providing VBG I-VP +a DT B-NP +floor NN I-NP +for IN B-PP +the DT B-NP +stock NN I-NP +price NN I-NP +. . O + +Although IN B-SBAR +IBM NNP B-NP +last JJ B-NP +year NN I-NP +produced VBD B-VP +its PRP$ B-NP +first JJ I-NP +strong JJ I-NP +results NNS I-NP +in IN B-PP +four CD B-NP +years NNS I-NP +and CC O +was VBD B-VP +expected VBN I-VP +to TO I-VP +continue VB I-VP +to TO I-VP +roll VB I-VP +this DT B-NP +year NN I-NP +, , O +it PRP B-NP +began VBD B-VP +faltering VBG I-VP +as RB B-ADVP +early RB I-ADVP +as IN B-PP +January NNP B-NP +. . O + +First RB B-ADVP +, , O +it PRP B-NP +had VBD B-VP +trouble NN B-NP +manufacturing VBG B-VP +a DT B-NP +chip NN I-NP +for IN B-PP +its PRP$ B-NP +mainframes NNS I-NP +, , O +IBM NNP B-NP +'s POS B-NP +bread-and-butter JJ I-NP +business NN I-NP +. . O + +Then RB O +it PRP B-NP +had VBD B-VP +a DT B-NP +series NN I-NP +of IN B-PP +smaller JJR B-NP +glitches NNS I-NP +, , O +including VBG B-PP +problems NNS B-NP +manufacturing NN B-VP +certain JJ B-NP +personal JJ I-NP +computers NNS I-NP +and CC O +the DT B-NP +delay NN I-NP +in IN B-PP +the DT B-NP +announcement NN I-NP +of IN B-PP +some DT B-NP +important JJ I-NP +workstations NNS I-NP +. . O + +Finally RB B-ADVP +, , O +IBM NNP B-NP +had VBD B-VP +to TO I-VP +delay VB I-VP +the DT B-NP +introduction NN I-NP +of IN B-PP +some DT B-NP +high-end JJ I-NP +disk NN I-NP +drives NNS I-NP +, , O +which WDT B-NP +account VBP B-VP +for IN B-PP +10 CD B-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +$ $ I-NP +60 CD I-NP +billion CD I-NP +of IN B-PP +annual JJ B-NP +revenue NN I-NP +. . O + +None NN B-NP +of IN B-PP +the DT B-NP +problems NNS I-NP +is VBZ B-VP +necessarily RB B-ADJP +fatal JJ I-ADJP +, , O +and CC O +they PRP B-NP +are VBP B-VP +n't RB O +all DT O +necessarily RB B-ADJP +even RB I-ADJP +related VBN I-ADJP +. . O + +There EX B-NP +are VBP B-VP +also RB B-ADVP +other JJ B-NP +factors NNS I-NP +at IN B-PP +work NN B-NP +that WDT B-NP +are VBP B-VP +outside IN B-PP +IBM NNP B-NP +'s POS B-NP +control NN I-NP +, , O +such JJ B-PP +as IN I-PP +currency NN B-NP +exchange NN I-NP +rates NNS I-NP +. . O + +The DT B-NP +strong JJ I-NP +dollar NN I-NP +, , O +which WDT B-NP +reduces VBZ B-VP +the DT B-NP +value NN I-NP +of IN B-PP +overseas JJ B-NP +earnings NNS I-NP +and CC I-NP +revenue NN I-NP +when WRB B-ADVP +they PRP B-NP +are VBP B-VP +translated VBN I-VP +into IN B-PP +dollars NNS B-NP +, , O +is VBZ B-VP +expected VBN I-VP +to TO I-VP +knock VB I-VP +80 CD B-NP +to TO I-NP +85 CD I-NP +cents NNS I-NP +off IN B-PP +IBM NNP B-NP +'s POS B-NP +per-share JJ I-NP +earnings NNS I-NP +for IN B-PP +the DT B-NP +full JJ I-NP +year NN I-NP +. . O + +Without IN B-PP +that DT B-NP +problem NN I-NP +, , O +IBM NNP B-NP +might MD B-VP +have VB I-VP +matched VBN I-VP +last JJ B-NP +year NN I-NP +'s POS B-NP +earnings NNS I-NP +of IN B-PP +$ $ B-NP +5.81 CD I-NP +billion CD I-NP +, , O +or CC O +$ $ B-NP +9.80 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Still RB B-ADVP +, , O +investors NNS B-NP +will MD B-VP +take VB I-VP +some DT B-NP +convincing NN I-NP +before IN B-SBAR +they PRP B-NP +get VBP B-VP +back RB B-ADVP +into IN B-PP +IBM NNP B-NP +'s POS B-NP +stock NN I-NP +in IN B-PP +a DT B-NP +big JJ I-NP +way NN I-NP +. . O + +Steve NNP B-NP +Milunovich NNP I-NP +, , O +a DT B-NP +securities NNS I-NP +analyst NN I-NP +at IN B-PP +First NNP B-NP +Boston NNP I-NP +, , O +said VBD B-VP +that IN B-SBAR +while IN B-SBAR +investors NNS B-NP +were VBD B-VP +looking VBG I-VP +for IN B-PP +an DT B-NP +excuse NN I-NP +to TO B-VP +buy VB I-VP +IBM NNP B-NP +shares VBZ I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +, , O +even RB B-NP +the DT I-NP +big JJ I-NP +institutional JJ I-NP +investors NNS I-NP +are VBP B-VP +looking VBG I-VP +for IN B-PP +a DT B-NP +reason NN I-NP +to TO B-VP +avoid VB I-VP +the DT B-NP +stock NN I-NP +these DT B-NP +days NNS I-NP +. . O + +On IN B-PP +Wall NNP B-NP +Street NNP I-NP +yesterday NN B-NP +, , O +northern JJ B-NP +California NNP I-NP +'s POS B-NP +killer NN I-NP +earthquake NN I-NP +was VBD B-VP +just RB B-NP +another DT I-NP +chance NN I-NP +to TO B-VP +make VB I-VP +a DT B-NP +buck NN I-NP +. . O + +At IN B-PP +the DT B-NP +opening NN I-NP +bell NN I-NP +, , O +investors NNS B-NP +quickly RB B-VP +began VBD I-VP +singling VBG I-VP +out RP B-PRT +shares NNS B-NP +of IN B-PP +companies NNS B-NP +expected VBN B-VP +to TO I-VP +profit VB I-VP +or CC I-VP +suffer VB I-VP +in IN B-PP +some DT B-NP +way NN I-NP +from IN B-PP +the DT B-NP +California NNP I-NP +disaster NN I-NP +, , O +including VBG B-PP +insurers NNS B-NP +, , O +construction-related JJ B-NP +companies NNS I-NP +, , O +refiners NNS B-NP +and CC O +housing NN B-NP +lenders NNS I-NP +. . O + +Brokerage NN B-NP +houses NNS I-NP +jumped VBD B-VP +in IN B-ADVP +, , O +touting VBG B-VP +`` `` B-NP +post-quake JJ I-NP +demand NN I-NP +'' '' I-NP +stocks NNS I-NP +, , O +and CC O +Kidder NNP B-NP +, , I-NP +Peabody NNP I-NP +& CC I-NP +Co. NNP I-NP +set VBD B-VP +up IN B-PRT +a DT B-NP +toll-free JJ I-NP +hot JJ I-NP +line NN I-NP +for IN B-PP +San NNP B-NP +Franciscans NNP I-NP +who WP B-NP +might MD B-VP +need VB I-VP +emergency NN B-NP +investment NN I-NP +advice NN I-NP +and CC O +help VB B-NP +in IN B-PP +transferring VBG B-VP +funds NNS B-NP +. . O + +`` `` O +Wall NNP B-NP +Street NNP I-NP +thinks VBZ B-VP +of IN B-PP +everything NN B-NP +in IN B-PP +terms NNS B-NP +of IN B-PP +money NN B-NP +, , O +'' '' O +says VBZ B-VP +Tom NNP B-NP +Gallagher NNP I-NP +, , O +a DT B-NP +senior JJ I-NP +Oppenheimer NNP I-NP +& CC I-NP +Co. NNP I-NP +trader NN I-NP +. . O + +However RB B-ADVP +, , O +he PRP B-NP +added VBD B-VP +, , O +such JJ B-NP +event-driven JJ I-NP +trading NN I-NP +moves NNS I-NP +typically RB B-VP +last JJ I-VP +only RB B-NP +a DT I-NP +few JJ I-NP +hours NNS I-NP +and CC O +are VBP B-VP +often RB I-VP +made VBN I-VP +without IN B-PP +full JJ B-NP +information NN I-NP +. . O + +The DT B-NP +most RBS I-NP +popular JJ I-NP +plays NNS I-NP +of IN B-PP +the DT B-NP +day NN I-NP +were VBD B-VP +insurance NN B-NP +companies NNS I-NP +such JJ B-PP +as IN I-PP +General NNP B-NP +Re NNP I-NP +Corp. NNP I-NP +, , O +which WDT B-NP +rose VBD B-VP +$ $ B-NP +2.75 CD I-NP +to TO B-PP +$ $ B-NP +86.50 CD I-NP +, , O +Nac NNP B-NP +Re NNP I-NP +Corp. NNP I-NP +, , O +up IN B-ADVP +$ $ B-NP +2 CD I-NP +to TO B-PP +$ $ B-NP +37.75 CD I-NP +, , O +American NNP B-NP +International NNP I-NP +Group NNP I-NP +Inc. NNP I-NP +, , O +up IN B-ADVP +$ $ B-NP +3.25 CD I-NP +to TO B-PP +$ $ B-NP +102.625 CD I-NP +, , O +and CC O +Cigna NNP B-NP +Corp. NNP I-NP +, , O +up IN B-ADVP +87.5 CD B-NP +cents NNS I-NP +to TO B-PP +$ $ B-NP +62.50 CD I-NP +. . O + +Yesterday NN B-NP +, , O +the DT B-NP +brokerage NN I-NP +firm NN I-NP +Conning NNP B-NP +& CC I-NP +Co. NNP I-NP +said VBD B-VP +insurers NNS B-NP +will MD B-VP +use VB I-VP +the DT B-NP +earthquake NN I-NP +as IN B-PP +an DT B-NP +excuse NN I-NP +to TO B-VP +raise VB I-VP +insurance NN B-NP +rates NNS I-NP +, , O +ending VBG B-VP +their PRP$ B-NP +long JJ I-NP +price NN I-NP +wars NNS I-NP +. . O + +Before IN B-SBAR +this DT B-NP +bullish JJ I-NP +theory NN I-NP +surfaced VBD B-VP +, , O +some DT B-NP +insurance NN I-NP +stocks NNS I-NP +initially RB B-ADVP +fell VBD B-VP +, , O +indicating VBG B-VP +that IN B-SBAR +investors NNS B-NP +thought VBD B-VP +the DT B-NP +quake NN I-NP +might MD B-VP +cost VB I-VP +insurers NNS B-NP +a DT B-NP +lot NN I-NP +of IN B-PP +money NN B-NP +. . O + +In IN B-PP +fact NN B-NP +, , O +Fireman NNP B-NP +'s POS B-NP +Fund NNP I-NP +Corp. NNP I-NP +, , O +which WDT B-NP +ended VBD B-VP +the DT B-NP +day NN I-NP +off IN B-ADVP +50 CD B-NP +cents NNS I-NP +to TO B-PP +$ $ B-NP +36.50 CD I-NP +, , O +said VBD B-VP +earthquake NN B-NP +damage NN I-NP +would MD B-VP +slightly RB I-VP +hurt VBN I-VP +fourth-quarter JJ B-NP +profit NN I-NP +. . O + +On IN B-PP +the DT B-NP +prospect NN I-NP +for IN B-PP +rebuilding VBG B-VP +northern JJ B-NP +California NNP I-NP +, , O +investors NNS B-NP +bid VBP B-VP +up IN B-PRT +cement-makers NNS B-NP +Calmat NNP I-NP +Co. NNP I-NP +, , O +up IN B-ADVP +$ $ B-NP +2.75 CD I-NP +to TO B-PP +$ $ B-NP +28.75 CD I-NP +, , O +and CC O +Lone NNP B-NP +Star NNP I-NP +Industries NNP I-NP +Inc. NNP I-NP +, , O +up IN B-ADVP +$ $ B-NP +1.75 CD I-NP +to TO B-PP +$ $ B-NP +29.25 CD I-NP +. . O + +Bridge NNP B-NP +and CC I-NP +road NN I-NP +builders NNS I-NP +had VBD B-VP +a DT B-NP +field NN I-NP +day NN I-NP +, , O +including VBG B-PP +Kasler NNP B-NP +Corp. NNP I-NP +, , O +up IN B-ADVP +$ $ B-NP +2.125 CD I-NP +to TO B-PP +$ $ B-NP +9.875 CD I-NP +, , O +Guy NNP B-NP +F. NNP I-NP +Atkinson NNP I-NP +Co. NNP I-NP +, , O +up IN B-ADVP +87.5 CD B-NP +to TO B-PP +$ $ B-NP +61.875 CD I-NP +, , O +and CC O +Morrison NNP B-NP +Knudsen NNP I-NP +Corp. NNP I-NP +, , O +which WDT B-NP +reported VBD B-VP +higher JJR B-NP +third-quarter JJ I-NP +earnings NNS I-NP +yesterday NN B-NP +, , O +up IN B-ADVP +$ $ B-NP +2.25 CD I-NP +to TO B-PP +$ $ B-NP +44.125 CD I-NP +. . O + +Fluor NNP B-NP +Corp. NNP I-NP +, , O +a DT B-NP +construction NN I-NP +engineering NN I-NP +firm NN I-NP +, , O +gained VBD B-VP +75 CD B-NP +cents NNS I-NP +to TO B-PP +$ $ B-NP +33.375 CD I-NP +. . O + +But CC O +home-building JJ B-NP +stocks NNS I-NP +were VBD B-VP +a DT B-NP +mixed VBN I-NP +bag NN I-NP +. . O + +Timber NN B-NP +stocks NNS I-NP +got VBD B-VP +a DT B-NP +big JJ I-NP +boost NN I-NP +. . O + +Georgia NNP B-NP +Pacific NNP I-NP +Corp. NNP I-NP +, , O +up IN B-ADVP +$ $ B-NP +1.25 CD I-NP +to TO B-PP +$ $ B-NP +58 CD I-NP +, , O +and CC O +Maxxam NNP B-NP +Inc. NNP I-NP +, , O +up IN B-ADVP +$ $ B-NP +3 CD I-NP +to TO B-PP +$ $ B-NP +43.75 CD I-NP +, , O +both DT O +reported VBD B-VP +strong JJ B-NP +profits NNS I-NP +. . O + +Merrill NNP B-NP +Lynch NNP I-NP +& CC I-NP +Co. NNP I-NP +touted VBD B-VP +Georgia-Pacific NNP B-NP +, , O +Louisiana NNP B-NP +Pacific NNP I-NP +Corp. NNP I-NP +and CC O +Willamette NNP B-NP +Industries NNP I-NP +Inc. NNP I-NP +as IN B-PP +the DT B-NP +best JJS I-NP +post-quake JJ I-NP +plywood NN I-NP +plays NNS I-NP +. . O + +Other JJ B-NP +gainers NNS I-NP +were VBD B-VP +companies NNS B-NP +with IN B-PP +one CD B-NP +or CC I-NP +more RBR I-NP +undamaged JJ I-NP +California NNP I-NP +refineries NNS I-NP +. . O + +Tosco NNP B-NP +Corp. NNP I-NP +jumped VBD B-VP +$ $ B-NP +1.125 CD I-NP +to TO B-PP +$ $ B-NP +20.125 CD I-NP +and CC O +Chevron NNP B-NP +Corp. NNP I-NP +, , O +despite IN B-PP +a DT B-NP +temporary JJ I-NP +pipeline NN I-NP +shutdown NN I-NP +, , O +rose VBD B-VP +$ $ B-NP +1 CD I-NP +to TO B-PP +$ $ B-NP +65 CD I-NP +. . O + +Meanwhile RB B-ADVP +, , O +shares VBZ B-NP +of IN B-PP +some DT B-NP +big JJ I-NP +housing NN I-NP +lenders NNS I-NP +got VBD B-VP +hit VBN I-VP +, , O +on IN B-PP +the DT B-NP +likelihood NN I-NP +that IN B-SBAR +the DT B-NP +lenders NNS I-NP +' POS B-NP +collateral NN I-NP +-- : O +people NNS B-NP +'s POS B-NP +homes NNS I-NP +-- : O +suffered VBD B-VP +physical JJ B-NP +damage NN I-NP +and CC O +perhaps RB B-ADVP +a DT B-NP +loss NN I-NP +in IN B-PP +value NN B-NP +. . O + +Wells NNP B-NP +Fargo NNP I-NP +& CC I-NP +Co. NNP I-NP +fell VBD B-VP +50 CD B-NP +cents NNS I-NP +to TO B-PP +$ $ B-NP +81.50 CD I-NP +, , O +and CC O +BankAmerica NNP B-NP +Corp. NNP I-NP +fell VBD B-VP +50 CD B-NP +cents NNS I-NP +to TO B-PP +$ $ B-NP +31.875 CD I-NP +. . O + +Some DT B-NP +California NNP I-NP +thrift NN I-NP +stocks NNS I-NP +also RB B-ADVP +fell VBD B-VP +, , O +including VBG B-PP +Golden NNP B-NP +West NNP I-NP +Financial NNP I-NP +Corp. NNP I-NP +and CC O +H.F. NNP B-NP +Ahmanson NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +which WDT B-NP +reported VBD B-VP +lower JJR B-NP +earnings NNS I-NP +yesterday NN B-NP +. . O + +`` `` O +Property NNP B-NP +values NNS I-NP +did VBD B-VP +n't RB I-VP +go VB I-VP +up IN B-ADVP +in IN B-PP +California NNP B-NP +yesterday NN B-NP +, , O +'' '' O +says VBZ B-VP +one CD B-NP +money NN I-NP +manager NN I-NP +. . O + +Pacific NNP B-NP +Gas NNP I-NP +& CC I-NP +Electric NNP I-NP +Co. NNP I-NP +fell VBD B-VP +37.5 CD B-NP +cents NNS I-NP +to TO B-PP +$ $ B-NP +19.625 CD I-NP +. . O + +One CD B-NP +of IN B-PP +its PRP$ B-NP +power NN I-NP +generators NNS I-NP +was VBD B-VP +damaged VBN I-VP +, , O +though IN B-SBAR +the DT B-NP +company NN I-NP +said VBD B-VP +there EX B-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +any DT B-NP +financial JJ I-NP +impact NN I-NP +. . O + +Pacific NNP B-NP +Telesis NNP I-NP +Group NNP I-NP +lost VBD B-VP +62.5 CD B-NP +cents NNS I-NP +to TO B-PP +$ $ B-NP +44.625 CD I-NP +. . O + +A DT B-NP +computer NN I-NP +failure NN I-NP +delayed VBD B-VP +its PRP$ B-NP +earnings NNS I-NP +announcement NN I-NP +, , O +and CC O +some DT B-NP +investors NNS I-NP +think VBP B-VP +it PRP B-NP +might MD B-VP +have VB I-VP +extra JJ B-NP +costs NNS I-NP +to TO B-VP +repair VB I-VP +damaged VBN B-NP +telephone NN I-NP +lines NNS I-NP +. . O + +Heavy JJ B-NP +construction NN I-NP +, , O +property-casualty JJ B-NP +insurance NN I-NP +and CC O +forest NN B-NP +products NNS I-NP +were VBD B-VP +among IN B-PP +the DT B-NP +best JJS I-NP +performing VBG I-NP +industry NN I-NP +groups NNS I-NP +in IN B-PP +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Equity NNP I-NP +Market NNP I-NP +Index NNP I-NP +yesterday NN B-NP +. . O + +Friday NNP B-NP +'s POS B-NP +stock NN I-NP +market NN I-NP +plunge NN I-NP +claimed VBD B-VP +its PRP$ B-NP +second JJ I-NP +victim NN I-NP +among IN B-PP +the DT B-NP +scores NNS I-NP +of IN B-PP +futures NNS B-NP +and CC I-NP +options NNS I-NP +trading NN I-NP +firms NNS I-NP +here RB B-ADVP +. . O + +Petco NNP B-NP +Options NNPS I-NP +, , O +an DT B-NP +options NNS I-NP +trading NN I-NP +firm NN I-NP +owned VBN B-VP +by IN B-PP +the DT B-NP +family NN I-NP +of IN B-PP +the DT O +deceased JJ O +former JJ O +Chicago NNP O +Board NNP O +of IN B-PP +Trade NNP B-NP +chairman NN B-NP +Ralph NNP B-NP +Peters NNP I-NP +, , O +is VBZ B-VP +getting VBG I-VP +out IN B-ADVP +of IN B-PP +the DT B-NP +trade NN I-NP +clearing VBG I-NP +, , O +or CC O +processing NN O +and CC O +guaranteeing VBG O +, , O +business NN B-NP +after IN B-PP +sustaining VBG B-VP +a DT B-NP +multimillion JJ I-NP +dollar NN I-NP +loss NN I-NP +Friday NNP B-NP +, , O +options NNS B-NP +industry NN I-NP +officials NNS I-NP +said VBD B-VP +. . O + +Nearly RB B-NP +75 CD I-NP +options NNS I-NP +traders NNS I-NP +on IN B-PP +the DT B-NP +Chicago NNP I-NP +Board NNP I-NP +Options NNP I-NP +Exchange NNP I-NP +who WP B-NP +cleared VBD B-VP +trades NNS B-NP +through IN B-PP +Petco NNP B-NP +, , O +including VBG B-PP +a DT B-NP +handful NN I-NP +of IN B-PP +traders NNS B-NP +who WP B-NP +lost VBD B-VP +between IN B-NP +$ $ I-NP +500,000 CD I-NP +to TO I-NP +$ $ I-NP +1 CD I-NP +million CD I-NP +themselves PRP O +as IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +Friday NNP B-NP +'s POS B-NP +debacle NN I-NP +, , O +are VBP B-VP +trying VBG I-VP +to TO I-VP +transfer VB I-VP +their PRP$ B-NP +business NN I-NP +to TO B-PP +other JJ B-NP +clearing NN I-NP +firms NNS I-NP +, , O +CBOE NNP B-NP +members NNS I-NP +said VBD B-VP +. . O + +Timothy NNP B-NP +Vincent NNP I-NP +, , O +Petco NNP B-NP +chief JJ I-NP +executive JJ I-NP +officer NN I-NP +, , O +confirmed VBD B-VP +that IN B-SBAR +Petco NNP B-NP +was VBD B-VP +withdrawing VBG I-VP +from IN B-PP +the DT B-NP +clearing VBG I-NP +business NN I-NP +. . O + +`` `` O +The DT B-NP +owners NNS I-NP +of IN B-PP +the DT B-NP +company NN I-NP +got VBD B-VP +a DT B-NP +look NN I-NP +at IN B-PP +the DT B-NP +potential JJ I-NP +risks NNS I-NP +in IN B-PP +this DT B-NP +business NN I-NP +, , O +and CC O +after IN B-PP +Monday NNP B-NP +they PRP B-NP +felt VBD B-VP +they PRP B-NP +did VBD B-VP +n't RB I-VP +want VB I-VP +to TO I-VP +be VB I-VP +exposed VBN I-VP +any DT B-ADVP +more JJR I-ADVP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +He PRP B-NP +added VBD B-VP +that IN B-SBAR +Petco NNP B-NP +remained VBD B-VP +in IN B-PP +compliance NN B-NP +with IN B-PP +all DT B-NP +industry NN I-NP +capital NN I-NP +requirements NNS I-NP +during IN B-PP +the DT B-NP +market NN I-NP +'s POS B-NP +rapid JJ I-NP +plunge NN I-NP +Friday NNP B-NP +and CC O +Monday NNP B-NP +'s POS B-NP +rebound NN I-NP +. . O + +A DT B-NP +CBOE NNP I-NP +spokeswoman NN I-NP +declined VBD B-VP +comment VB B-NP +on IN B-PP +Petco NNP B-NP +. . O + +Over IN B-PP +the DT B-NP +weekend NN I-NP +Fossett NNP B-NP +Corp. NNP I-NP +, , O +another DT B-NP +options NNS I-NP +trading NN I-NP +firm NN I-NP +, , O +transferred VBD B-VP +the DT B-NP +clearing VBG I-NP +accounts NNS I-NP +of IN B-PP +about IN B-NP +160 CD I-NP +traders NNS I-NP +to TO B-PP +First NNP B-NP +Options NNPS I-NP +of IN B-PP +Chicago NNP B-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +Continental NNP B-NP +Bank NNP I-NP +Corp. NNP I-NP +, , O +because IN B-SBAR +it PRP B-NP +could MD B-VP +n't RB I-VP +meet VB I-VP +regulatory JJ B-NP +capital NN I-NP +requirements NNS I-NP +after IN B-PP +Friday NNP B-NP +'s POS B-NP +market NN I-NP +slide NN I-NP +. . O + +The DT B-NP +unprecedented JJ I-NP +transfer NN I-NP +of IN B-PP +accounts NNS B-NP +underscored VBD B-VP +the DT B-NP +options NNS I-NP +industry NN I-NP +'s POS B-NP +desire NN I-NP +not RB O +to TO B-VP +have VB I-VP +its PRP$ B-NP +credibility NN I-NP +tarnished VBN B-VP +by IN B-PP +potentially RB B-NP +widespread JJ I-NP +trading NN I-NP +defaults NNS I-NP +on IN B-PP +Monday NNP B-NP +. . O + +The DT B-NP +CBOE NNP I-NP +, , O +American NNP B-NP +Stock NNP I-NP +Exchange NNP I-NP +, , O +Options NNP B-NP +Clearing NNP I-NP +Corp. NNP I-NP +and CC O +Stephen NNP B-NP +Fossett NNP I-NP +, , O +owner NN B-NP +of IN B-PP +Fossett NNP B-NP +, , O +joined VBD B-VP +in IN B-PP +putting VBG B-VP +up IN B-PRT +$ $ B-NP +50 CD I-NP +million CD I-NP +to TO B-VP +guarantee VB I-VP +the DT B-NP +accounts NNS I-NP +at IN B-PP +First NNP B-NP +Options NNPS I-NP +. . O + +The DT B-NP +head NN I-NP +of IN B-PP +another DT B-NP +small JJ I-NP +options NNS I-NP +clearing VBG I-NP +firm NN I-NP +, , O +who WP B-NP +asked VBD B-VP +not RB O +to TO B-VP +be VB I-VP +identified VBN I-VP +, , O +said VBD B-VP +that IN B-SBAR +the DT B-NP +heightened VBN I-NP +volatility NN I-NP +in IN B-PP +the DT B-NP +financial JJ I-NP +markets NNS I-NP +in IN B-PP +recent JJ B-NP +years NNS I-NP +makes VBZ B-VP +it PRP B-NP +increasingly RB B-ADJP +difficult JJ I-ADJP +for IN B-SBAR +any DT B-NP +but CC B-PP +the DT B-NP +largest JJS I-NP +financial JJ I-NP +trading NN I-NP +firms NNS I-NP +to TO B-VP +shoulder VB I-VP +the DT B-NP +risk NN I-NP +inherent JJ B-ADJP +in IN B-PP +the DT B-NP +highly RB I-NP +leveraged JJ I-NP +options NNS I-NP +and CC I-NP +futures NNS I-NP +business NN I-NP +. . O + +Prior RB B-PP +to TO I-PP +the DT B-NP +introduction NN I-NP +of IN B-PP +financial JJ B-NP +futures NNS I-NP +in IN B-PP +the DT B-NP +late JJ I-NP +1970s NNS I-NP +, , O +most RBS B-NP +trading NN I-NP +firms NNS I-NP +clustered VBN B-VP +around IN B-PP +the DT B-NP +LaSalle NNP I-NP +Street NNP I-NP +financial JJ I-NP +district NN I-NP +here RB B-ADVP +were VBD B-VP +family NN B-NP +operations NNS I-NP +handed VBD B-VP +down RB B-ADVP +from IN B-PP +one CD B-NP +generation NN I-NP +to TO B-PP +the DT B-NP +next JJ I-NP +. . O + +Most JJS B-NP +also RB B-ADVP +were VBD B-VP +relatively RB B-ADJP +undercapitalized JJ I-ADJP +compared VBN B-PP +with IN B-PP +the DT B-NP +size NN I-NP +of IN B-PP +most RBS B-NP +Wall NNP I-NP +Street NNP I-NP +securities NNS I-NP +firms NNS I-NP +. . O + +Mr. NNP B-NP +Peters NNP I-NP +, , O +a DT B-NP +LaSalle NNP I-NP +Street NNP I-NP +legend NN I-NP +among IN B-PP +the DT B-NP +post-World NNP I-NP +War NNP I-NP +II NNP I-NP +generation NN I-NP +of IN B-PP +commodity NN B-NP +traders NNS I-NP +, , O +was VBD B-VP +rumored VBN I-VP +to TO I-VP +have VB I-VP +amassed VBN I-VP +a DT B-NP +multimillion-dollar JJ I-NP +fortune NN I-NP +from IN B-PP +commodity NN B-NP +trading NN I-NP +and CC O +other JJ B-NP +activities NNS I-NP +by IN B-PP +the DT B-NP +time NN I-NP +he PRP B-NP +died VBD B-VP +in IN B-PP +May NNP B-NP +. . O + +Part NN B-NP +of IN B-PP +a DT B-NP +Series NNP I-NP +-RCB- ) O + +Betty NNP B-NP +Lombardi NNP I-NP +is VBZ B-VP +a DT B-NP +mild-mannered JJ I-NP +homemaker NN I-NP +and CC I-NP +grandmother NN I-NP +in IN B-PP +rural JJ B-NP +Hunterdon NNP I-NP +County NNP I-NP +, , O +N.J NNP B-NP +. . O + +But CC O +put VB B-VP +her PRP B-NP +behind IN B-PP +a DT B-NP +shopping NN I-NP +cart NN I-NP +and CC O +she PRP B-NP +turns VBZ B-VP +ruthless JJ B-ADJP +. . O + +If IN B-SBAR +Colgate NNP B-NP +toothpaste NN I-NP +offers VBZ B-VP +a DT B-NP +tempting JJ I-NP +money-saving JJ I-NP +coupon NN I-NP +, , O +she PRP B-NP +'ll MD B-VP +cross VB I-VP +Crest NNP B-NP +off IN B-PP +her PRP$ B-NP +shopping NN I-NP +list NN I-NP +without IN B-PP +a DT B-NP +second NN I-NP +thought VBD I-NP +. . O + +Never RB B-ADVP +mind NN B-VP +that IN O +her PRP$ B-NP +husband NN I-NP +prefers VBZ B-VP +Crest NNP B-NP +. . O + +Some DT B-NP +weeks NNS I-NP +when WRB B-ADVP +her PRP$ B-NP +supermarket NN I-NP +runs VBZ B-VP +a DT B-NP +double-coupon NN I-NP +promotion NN I-NP +, , O +she PRP B-NP +boasts VBZ B-VP +that IN B-SBAR +she PRP B-NP +shaves VBZ B-VP +$ $ B-NP +22 CD I-NP +off IN B-PP +her PRP$ B-NP +bill NN I-NP +. . O + +Money NNP B-NP +is VBZ B-VP +n't RB O +the DT B-NP +only JJ I-NP +thing NN I-NP +that WDT B-NP +makes VBZ B-VP +her PRP$ B-NP +dump NN B-VP +once RB B-NP +favorite JJ I-NP +brands NNS I-NP +. . O + +After IN B-SBAR +she PRP B-NP +heard VBD B-VP +about IN B-PP +the DT B-NP +artery-clogging NN I-NP +hazards NNS I-NP +of IN B-PP +tropical JJ B-NP +oils NNS I-NP +in IN B-PP +many JJ B-NP +cookies NNS I-NP +, , O +she PRP B-NP +dropped VBD B-VP +Pepperidge NNP B-NP +Farm NNP I-NP +and CC O +started VBD B-VP +buying VBG I-VP +brands NNS B-NP +free JJ B-ADJP +of IN B-PP +such JJ B-NP +oils NNS I-NP +. . O + +`` `` O +I PRP B-NP +always RB B-ADVP +thought VBD B-VP +Pepperidge NNP B-NP +Farm NNP I-NP +was VBD B-VP +tasty JJ B-ADJP +and CC O +high JJ B-ADJP +quality NN I-ADJP +, , O +'' '' O +Mrs. NNP B-NP +Lombardi NNP I-NP +says VBZ B-VP +. . O + +`` `` O +But CC O +I PRP B-NP +do VBP B-VP +n't RB I-VP +want VB I-VP +any DT B-NP +of IN B-PP +that DT B-NP +oil NN I-NP +for IN B-PP +my PRP$ B-NP +grandkids NNS I-NP +. . O +'' '' O + +-LRB- ( O +Pepperidge NNP B-NP +Farm NNP I-NP +says VBZ B-VP +it PRP B-NP +ca MD B-VP +n't RB I-VP +tell VB I-VP +exactly RB B-NP +how WRB I-NP +many JJ I-NP +customers NNS I-NP +it PRP B-NP +has VBZ B-VP +lost VBN I-VP +, , O +but CC O +it PRP B-NP +hopes VBZ B-VP +to TO I-VP +remove VB I-VP +the DT B-NP +objectionable JJ I-NP +tropical JJ I-NP +oil NN I-NP +from IN B-PP +all DT B-NP +its PRP$ I-NP +products NNS I-NP +by IN B-PP +year NN B-NP +end NN I-NP +. . O +-RRB- ) O + +Clearly RB B-ADVP +, , O +people NNS B-NP +like IN B-PP +Mrs. NNP B-NP +Lombardi NNP I-NP +are VBP B-VP +giving VBG I-VP +marketers NNS B-NP +fits VBZ B-NP +. . O + +She PRP B-NP +represents VBZ B-VP +a DT B-NP +new JJ I-NP +breed NN I-NP +of IN B-PP +savvy JJ B-NP +consumer NN I-NP +who WP B-NP +puts VBZ B-VP +bargain NN B-NP +prices NNS I-NP +, , O +nutritional JJ B-NP +and CC I-NP +environmental JJ I-NP +concerns NNS I-NP +, , O +and CC O +other JJ B-NP +priorities NNS I-NP +ahead RB B-ADVP +of IN B-PP +old-fashioned JJ B-NP +brand NN I-NP +loyalty NN I-NP +. . O + +While IN B-SBAR +brand NN B-NP +loyalty NN I-NP +is VBZ B-VP +far RB B-PP +from IN B-PP +dead JJ B-ADJP +, , O +marketing NN B-NP +experts NNS I-NP +say VBP B-VP +it PRP B-NP +has VBZ B-VP +eroded VBN I-VP +during IN B-PP +the DT B-NP +1980s CD I-NP +. . O + +Marketers NNS B-NP +themselves PRP O +are VBP B-VP +partly RB B-ADVP +to TO B-PP +blame VB B-ADJP +: : O +They PRP B-NP +'ve VBP B-VP +increased VBN I-VP +spending NN B-NP +for IN B-PP +coupons NNS B-NP +and CC O +other JJ B-NP +short-term JJ I-NP +promotions NNS I-NP +at IN B-PP +the DT B-NP +expense NN I-NP +of IN B-PP +image-building JJ B-NP +advertising NN I-NP +. . O + +What WP B-NP +'s VBZ B-VP +more JJR B-NP +, , O +a DT B-NP +flood NN I-NP +of IN B-PP +new JJ B-NP +products NNS I-NP +has VBZ B-VP +given VBN I-VP +consumers NNS B-NP +a DT B-NP +dizzying JJ I-NP +choice NN I-NP +of IN B-PP +brands NNS B-NP +, , O +many NN B-NP +of IN B-PP +which WDT B-NP +are VBP B-VP +virtually JJ B-ADVP +carbon NN B-NP +copies NNS I-NP +of IN B-PP +one CD B-NP +other JJ I-NP +. . O + +`` `` O +Marketers NNS B-NP +have VBP B-VP +brought VBN I-VP +this DT B-NP +on IN B-PP +themselves PRP B-NP +with IN B-PP +their PRP$ B-NP +heavy JJ I-NP +use NN I-NP +'' '' O +of IN B-PP +promotions NNS B-NP +, , O +contends VBZ B-VP +Joe NNP B-NP +Plummer NNP I-NP +, , O +an DT B-NP +executive JJ I-NP +vice NN I-NP +president NN I-NP +at IN B-PP +the DT B-NP +D'Arcy NNP I-NP +Masius NNP I-NP +Benton NNP I-NP +& CC I-NP +Bowles NNP I-NP +ad NN I-NP +agency NN I-NP +. . O + +`` `` O +Without IN B-PP +some DT B-NP +real JJ I-NP +product NN I-NP +improvements NNS I-NP +, , O +it PRP B-NP +'s VBZ B-VP +going VBG I-VP +to TO I-VP +be VB I-VP +difficult JJ B-ADJP +to TO B-VP +win VB I-VP +that DT B-NP +loyalty NN I-NP +back RB B-ADVP +. . O +'' '' O + +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +'s POS B-NP +`` `` O +American JJ O +Way NN O +of IN B-PP +Buying VBG B-NP +'' '' B-NP +survey NN I-NP +this DT B-NP +year NN I-NP +found VBD B-VP +that IN B-SBAR +most RBS B-NP +consumers NNS I-NP +switch VBP B-VP +brands NNS B-NP +for IN B-PP +many NN B-NP +of IN B-PP +the DT B-NP +products NNS I-NP +they PRP B-NP +use VBP B-VP +. . O + +For IN B-PP +the DT B-NP +survey NN I-NP +, , O +Peter NNP B-NP +D. NNP I-NP +Hart NNP I-NP +Research NNP I-NP +Associates NNPS I-NP +asked VBD B-VP +some DT B-NP +2,000 CD I-NP +consumers NNS I-NP +, , O +including VBG B-PP +Mrs. NNP B-NP +Lombardi NNP I-NP +, , O +whether IN B-SBAR +they PRP B-NP +usually RB B-VP +buy VBP I-VP +one CD B-NP +brand NN I-NP +of IN B-PP +a DT B-NP +certain JJ I-NP +type NN I-NP +of IN B-PP +product NN B-NP +or CC O +have VBP B-VP +no DT B-NP +brand NN I-NP +loyalty NN I-NP +. . O + +More RBR B-NP +than IN I-NP +half PDT I-NP +the DT I-NP +users NNS I-NP +of IN B-PP +17 CD B-NP +of IN B-PP +the DT B-NP +25 CD I-NP +products NNS I-NP +included VBD B-VP +in IN B-PP +the DT B-NP +survey NN I-NP +said VBD B-VP +they PRP B-NP +'re VBP B-VP +brand NN B-NP +switchers NNS I-NP +. . O + +Overall RB B-ADVP +, , O +12 CD B-NP +% NN I-NP +of IN B-PP +consumers NNS B-NP +are VBP B-VP +n't RB O +brand VBP B-ADJP +loyal JJ I-ADJP +for IN B-PP +any DT B-NP +of IN B-PP +the DT B-NP +25 CD I-NP +product NN I-NP +categories NNS I-NP +. . O + +About IN B-NP +47 CD I-NP +% NN I-NP +are VBP B-VP +loyal JJ B-ADJP +for IN B-PP +one CD B-NP +to TO I-NP +five CD I-NP +of IN B-PP +the DT B-NP +products NNS I-NP +. . O + +Only RB B-NP +2 CD I-NP +% NN I-NP +are VBP B-VP +brand NN B-ADJP +loyal JJ I-ADJP +in IN B-PP +16 CD B-NP +to TO I-NP +20 CD I-NP +of IN B-PP +the DT B-NP +categories NNS I-NP +, , O +and CC O +no DT B-NP +one CD I-NP +is VBZ B-VP +loyal JJ B-ADJP +for IN B-PP +more JJR B-NP +than IN I-NP +20 CD I-NP +types NNS I-NP +of IN B-PP +products NNS B-NP +. . O + +For IN B-PP +such JJ B-NP +products NNS I-NP +as IN B-PP +canned JJ B-NP +vegetables NNS I-NP +and CC O +athletic JJ B-NP +shoes NNS I-NP +, , O +devotion NN B-NP +to TO B-PP +a DT B-NP +single JJ I-NP +brand NN I-NP +was VBD B-VP +quite RB B-ADJP +low JJ I-ADJP +, , O +with IN B-PP +fewer JJR B-NP +than IN I-NP +30 CD I-NP +% NN I-NP +saying VBG B-VP +they PRP B-NP +usually RB B-ADVP +buy VBP B-VP +the DT B-NP +same JJ I-NP +brand NN I-NP +. . O + +Only RB B-ADVP +for IN B-PP +cigarettes NNS B-NP +, , I-NP +mayonnaise NN I-NP +and CC I-NP +toothpaste NN I-NP +did VBD O +more JJR B-NP +than IN I-NP +60 CD I-NP +% NN I-NP +of IN B-PP +users NNS B-NP +say VBP B-VP +they PRP B-NP +typically RB B-ADVP +stick VBP B-VP +with IN B-PP +the DT B-NP +same JJ I-NP +brand NN I-NP +. . O + +People NNS B-NP +tend VBP B-VP +to TO I-VP +be VB I-VP +most RBS B-ADJP +loyal JJ I-ADJP +to TO B-PP +brands NNS B-NP +that WDT B-NP +have VBP B-VP +distinctive JJ B-NP +flavors NNS I-NP +, , O +such JJ B-PP +as IN I-PP +cigarettes NNS B-NP +and CC I-NP +ketchup NN I-NP +. . O + +Kathie NNP B-NP +Huff NNP I-NP +, , O +a DT B-NP +respondent NN I-NP +in IN B-PP +the DT B-NP +Journal NNP I-NP +survey NN I-NP +from IN B-PP +Spokane NNP B-NP +, , O +Wash. NNP B-NP +, , O +says VBZ B-VP +her PRP$ B-NP +husband NN I-NP +is VBZ B-VP +adamant JJ B-ADJP +about IN B-PP +eating VBG B-VP +only RB O +Hunt NNP B-NP +'s POS B-NP +ketchup NN I-NP +. . O + +He PRP B-NP +simply RB B-ADVP +ca MD B-VP +n't RB I-VP +stomach VB I-VP +the DT B-NP +taste NN I-NP +of IN B-PP +Heinz NNP B-NP +, , O +she PRP B-NP +says VBZ B-VP +. . O + +The DT B-NP +31-year-old JJ I-NP +homemaker NN I-NP +adds VBZ B-VP +, , O +`` `` O +The DT B-NP +only RB I-NP +other JJ I-NP +thing NN I-NP +I PRP B-NP +'m VBP B-VP +really RB B-ADJP +loyal JJ I-ADJP +to TO B-PP +is VBZ B-VP +my PRP$ B-NP +Virginia NNP I-NP +Slims NNPS I-NP +cigarettes NNS I-NP +. . O + +Coke NNP B-NP +and CC I-NP +Pepsi NNP I-NP +are VBP B-VP +all PDT O +the DT B-NP +same JJ I-NP +to TO B-PP +me PRP B-NP +, , O +and CC O +I PRP B-NP +usually RB B-ADVP +buy VBP B-VP +whichever WDT B-NP +brand VBP I-NP +of IN B-PP +coffee NN B-NP +happens VBZ B-VP +to TO I-VP +be VB I-VP +on IN B-PP +sale NN B-NP +. . O +'' '' O + +Brand NN B-NP +imagery NN I-NP +plays VBZ B-VP +a DT B-NP +significant JJ I-NP +role NN I-NP +in IN B-PP +loyalty NN B-NP +to TO B-PP +such JJ B-NP +products NNS I-NP +as IN B-PP +cigarettes NNS B-NP +, , I-NP +perfume NN I-NP +and CC I-NP +beer NN I-NP +. . O + +People NNS B-NP +often RB B-ADVP +stay VBP B-VP +with IN B-PP +a DT B-NP +particular JJ I-NP +brand NN I-NP +because IN B-SBAR +they PRP B-NP +want VBP B-VP +to TO I-VP +be VB I-VP +associated VBN I-VP +with IN B-PP +the DT B-NP +image VB I-NP +its PRP$ B-NP +advertising NN I-NP +conveys VBZ B-VP +, , O +whether IN B-SBAR +that DT B-NP +'s VBZ B-VP +macho JJ B-NP +Marlboro NNP I-NP +cigarettes NNS I-NP +or CC O +Cher NNP B-NP +'s POS B-NP +Uninhibited NNP I-NP +perfume NN I-NP +. . O + +Loyalty NN B-NP +lags VBZ B-VP +most RBS B-ADVP +for IN B-PP +utilitarian JJ B-NP +products NNS I-NP +like IN B-PP +trash NN B-NP +bags NNS I-NP +and CC O +batteries NNS B-NP +. . O + +Only RB B-NP +23 CD I-NP +% NN I-NP +of IN B-PP +trash-bag NN B-NP +users NNS I-NP +in IN B-PP +the DT B-NP +Journal NNP I-NP +survey NN I-NP +usually RB B-ADVP +buy VB B-VP +the DT B-NP +same JJ I-NP +brand NN I-NP +, , O +and CC O +just RB B-NP +29 CD I-NP +% NN I-NP +of IN B-PP +battery NN B-NP +buyers NNS I-NP +stick VBP B-VP +to TO B-PP +one CD B-NP +brand NN I-NP +. . O + +Underwear NN B-NP +scored VBD B-VP +a DT B-NP +middling JJ I-NP +36 CD I-NP +% NN I-NP +in IN B-PP +brand NN B-NP +loyalty NN I-NP +, , O +but CC O +consumer NN B-NP +researchers NNS I-NP +say VBP B-VP +that DT B-NP +'s VBZ B-VP +actually RB B-ADVP +quite RB B-ADJP +high JJ I-ADJP +for IN B-PP +such JJ B-NP +a DT I-NP +mundane JJ I-NP +product NN I-NP +. . O + +`` `` O +In IN B-PP +the DT B-NP +past NN I-NP +, , O +you PRP B-NP +just RB B-VP +wore VBD I-VP +Fruit NNP B-NP +of IN B-PP +the DT B-NP +Loom NNP I-NP +and CC O +did VBD B-VP +n't RB I-VP +care VB I-VP +, , O +'' '' O +says VBZ B-VP +Peter NNP B-NP +Kim NNP I-NP +, , O +U.S. NNP B-NP +director NN I-NP +of IN B-PP +consumer NN B-NP +behavior NN I-NP +research NN I-NP +for IN B-PP +the DT B-NP +J. NNP I-NP +Walter NNP I-NP +Thompson NNP I-NP +ad NN I-NP +agency NN I-NP +. . O + +`` `` O +The DT B-NP +high JJ I-NP +score NN I-NP +reflects VBZ B-VP +the DT B-NP +attempts NNS I-NP +to TO B-VP +make VB I-VP +underwear NN B-NP +more JJR B-NP +of IN B-PP +a DT B-NP +fashion NN I-NP +image NN I-NP +business NN I-NP +for IN B-PP +both DT B-NP +men NNS I-NP +and CC I-NP +women NNS I-NP +. . O +'' '' O + +He PRP B-NP +believes VBZ B-VP +there EX B-NP +'s VBZ B-VP +opportunity NN B-NP +for IN B-SBAR +a DT B-NP +smart JJ I-NP +gasoline NN I-NP +marketer NN I-NP +to TO B-VP +create VB I-VP +a DT B-NP +strong JJ I-NP +brand NN I-NP +image NN I-NP +and CC O +more JJR B-NP +consumer NN I-NP +loyalty NN I-NP +. . O + +What WP B-NP +loyalty NN I-NP +there EX B-NP +is VBZ B-VP +to TO B-PP +gas VB B-NP +brands NNS I-NP +, , O +he PRP B-NP +believes VBZ B-VP +, , O +is VBZ B-VP +a DT B-NP +matter NN I-NP +of IN B-PP +stopping VBG B-VP +at IN B-PP +the DT O +most RBS B-ADVP +conveniently RB I-ADVP +located VBN B-NP +service NN I-NP +stations NNS I-NP +. . O + +Brand NN B-NP +loyalty NN I-NP +was VBD B-VP +stronger JJR B-ADJP +among IN B-PP +older JJR B-NP +consumers NNS I-NP +in IN B-PP +the DT B-NP +Journal NNP I-NP +survey NN I-NP +. . O + +Nearly RB B-NP +one-fourth NN I-NP +of IN B-PP +participants NNS B-NP +age VBP B-NP +60 CD I-NP +and CC O +older JJR B-ADJP +claim NN B-VP +brand NN B-NP +loyalty NN I-NP +for IN B-PP +more JJR B-NP +than IN I-NP +10 CD I-NP +of IN B-PP +the DT B-NP +25 CD I-NP +products NNS I-NP +in IN B-PP +the DT B-NP +survey NN I-NP +; : O +only RB B-NP +9 CD I-NP +% NN I-NP +of IN B-PP +those DT B-NP +age NN B-NP +18 CD B-NP +to TO I-NP +29 CD I-NP +have VBP B-VP +such JJ B-NP +strong JJ I-NP +allegiance NN I-NP +. . O + +Higher-income JJR B-NP +people NNS I-NP +also RB B-ADVP +tend VBP B-VP +to TO I-VP +be VB I-VP +more JJR B-NP +brand NN I-NP +loyal JJ I-NP +these DT B-NP +days NNS I-NP +, , O +the DT B-NP +Journal NNP I-NP +survey NN I-NP +and CC O +other JJ B-NP +research NN I-NP +studies NNS I-NP +indicate VBP B-VP +. . O + +Marketers NNS B-NP +speculate VBP B-VP +that IN B-SBAR +more RBR B-NP +affluent JJ I-NP +people NNS I-NP +tend VBP B-VP +to TO I-VP +lead VB I-VP +more RBR B-NP +pressured VBN I-NP +lives NNS I-NP +and CC O +do VBP B-VP +n't RB I-VP +have VB I-VP +time NN B-NP +to TO B-VP +research VB I-VP +the DT B-NP +products NNS I-NP +they PRP B-NP +buy VBP B-VP +for IN B-PP +the DT B-NP +highest JJS I-NP +quality NN I-NP +and CC I-NP +most RBS I-NP +reasonable JJ I-NP +price NN I-NP +. . O + +An DT B-NP +established VBN I-NP +brand NN I-NP +name NN I-NP +is VBZ B-VP +insurance NN B-NP +that IN B-SBAR +at IN B-ADVP +least JJS I-ADVP +the DT B-NP +product NN I-NP +will MD B-VP +be VB I-VP +of IN B-PP +acceptable JJ B-NP +quality NN I-NP +, , O +if IN B-CONJP +not RB I-CONJP +always RB B-NP +the DT I-NP +best JJS I-NP +value NN I-NP +for IN B-PP +the DT B-NP +money NN I-NP +. . O + +It PRP B-NP +'s VBZ B-VP +sort NN B-ADVP +of IN I-ADVP +loyalty NN B-NP +by IN B-PP +default NN B-NP +. . O + +Meanwhile RB B-ADVP +, , O +`` `` O +the DT B-NP +bottom NN I-NP +end NN I-NP +of IN B-PP +the DT B-NP +market NN I-NP +is VBZ B-VP +becoming VBG I-VP +less RBR B-ADJP +loyal JJ I-ADJP +, , O +'' '' O +says VBZ B-VP +Laurel NNP B-NP +Cutler NNP I-NP +, , O +vice NN B-NP +chairman NN I-NP +of IN B-PP +the DT B-NP +ad NN I-NP +agency NN I-NP +FCB\/Leber NNP B-NP +Katz NNP I-NP +Partners NNPS I-NP +. . O + +`` `` O +They PRP B-NP +'re VBP B-VP +buying VBG I-VP +whatever WDT B-NP +'s POS B-VP +cheaper JJR B-ADJP +. . O +'' '' O + +The DT B-NP +biggest JJS I-NP +wild JJ I-NP +card NN I-NP +in IN B-PP +the DT B-NP +brand NN I-NP +loyalty NN I-NP +game NN I-NP +: : O +How WRB B-ADVP +those DT B-NP +hotly RB I-NP +pursued VBN I-NP +but CC I-NP +highly RB I-NP +unpredictable JJ I-NP +baby NN I-NP +boomers NNS I-NP +will MD B-VP +behave VB I-VP +as IN B-SBAR +they PRP B-NP +move VBP B-VP +into IN B-PP +middle NN B-NP +age NN I-NP +. . O + +They PRP B-NP +grew VBD B-VP +up IN B-ADVP +with IN B-PP +more JJR B-NP +brand NN I-NP +choices NNS I-NP +than IN B-PP +any DT B-NP +generation NN I-NP +and CC O +have VBP B-VP +shown VBN I-VP +less JJR B-NP +allegiance NN I-NP +so RB B-ADVP +far RB I-ADVP +. . O + +But CC O +now RB B-SBAR +that IN I-SBAR +they PRP B-NP +'re VBP B-VP +settling VBG I-VP +down RB B-ADVP +and CC O +raising VBG B-VP +families NNS B-NP +, , O +might MD O +they PRP B-NP +also RB B-ADVP +show VB B-VP +more JJR B-NP +stability NN I-NP +in IN B-PP +their PRP$ B-NP +brand NN I-NP +choices NNS I-NP +? . O + +Mr. NNP B-NP +Kim NNP I-NP +of IN B-PP +J. NNP B-NP +Walter NNP I-NP +Thompson NNP I-NP +does VBZ B-VP +n't RB I-VP +think VB I-VP +so RB B-ADVP +. . O + +He PRP B-NP +believes VBZ B-VP +baby NN B-NP +boomers NNS I-NP +will MD B-VP +continue VB I-VP +to TO I-VP +be VB I-VP +selective JJ B-ADJP +in IN B-PP +their PRP$ B-NP +brand NN I-NP +loyalties NNS I-NP +. . O + +`` `` O +Earlier JJR B-NP +generations NNS I-NP +were VBD B-VP +brand NN B-ADJP +loyal JJ I-ADJP +across IN B-PP +categories NNS B-NP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +, , O +`` `` O +but CC O +boomers NNS B-NP +tend VBP B-VP +to TO I-VP +be VB I-VP +brand NN B-ADJP +loyal JJ I-ADJP +in IN B-PP +categories NNS B-NP +like IN B-PP +running VBG B-NP +shoes NNS I-NP +and CC O +bottled JJ B-NP +water NN I-NP +, , O +but CC O +less RBR B-ADJP +so RB I-ADJP +in IN B-PP +others NNS B-NP +like IN B-PP +toilet NN B-NP +paper NN I-NP +and CC O +appliances NNS B-NP +. . O +'' '' O + +While IN B-SBAR +not RB O +as IN B-ADJP +brand NN I-ADJP +loyal JJ I-ADJP +as IN B-PP +in IN B-PP +the DT B-NP +past NN I-NP +, , O +consumers NNS B-NP +today NN B-ADVP +do VBP B-VP +n't RB I-VP +buy VB I-VP +products NNS B-NP +capriciously RB B-ADVP +, , O +either RB B-ADVP +. . O + +Rather RB B-ADVP +, , O +they PRP B-NP +tend VBP B-VP +to TO I-VP +have VB I-VP +a DT B-NP +set NN I-NP +of IN B-PP +two CD B-NP +or CC I-NP +three CD I-NP +favorites NNS I-NP +. . O + +Sometimes RB B-ADVP +, , O +they PRP B-NP +'ll MD B-VP +choose VB I-VP +Ragu NNP B-NP +spaghetti NNS I-NP +sauce NN I-NP +; : O +other JJ B-NP +times NNS I-NP +, , O +it PRP B-NP +will MD B-VP +be VB I-VP +Prego NNP B-NP +. . O + +Advertisers NNS B-NP +attribute VBP B-VP +this DT B-NP +shared VBN I-NP +loyalty NN I-NP +to TO B-PP +the DT B-NP +striking JJ I-NP +similarity NN I-NP +among IN B-PP +brands NNS B-NP +. . O + +If IN B-SBAR +a DT B-NP +more RBR I-NP +absorbent JJ I-NP +Pampers NNPS I-NP +hits VBZ B-VP +the DT B-NP +market NN I-NP +, , O +you PRP B-NP +can MD B-VP +be VB I-VP +sure JJ B-ADJP +a DT B-NP +new JJ I-NP +and CC I-NP +improved VBN I-NP +Huggies NNPS I-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +far RB B-ADVP +behind RB I-ADVP +. . O + +The DT B-NP +BBDO NNP I-NP +Worldwide NNP I-NP +ad NN I-NP +agency NN I-NP +studied VBN B-VP +`` `` O +brand NN B-NP +parity NN I-NP +'' '' O +and CC O +found VBD B-VP +that IN B-SBAR +consumers NNS B-NP +believe VBP B-VP +all DT B-NP +brands NNS I-NP +are VBP B-VP +about IN B-NP +the DT I-NP +same JJ I-NP +in IN B-PP +a DT B-NP +number NN I-NP +of IN B-PP +categories NNS B-NP +, , O +particularly RB B-ADVP +credit VBP B-NP +cards NNS I-NP +, , O +paper NN B-NP +towels NNS I-NP +, , O +dry JJ B-NP +soups NNS I-NP +and CC O +snack NN B-NP +chips NNS I-NP +. . O + +`` `` O +When WRB B-ADVP +there EX B-NP +'s VBZ B-VP +a DT B-NP +clutter NN I-NP +of IN B-PP +brands NNS B-NP +, , O +consumers NNS B-NP +simplify VBP B-VP +the DT B-NP +complexity NN I-NP +by IN B-PP +telling VBG B-VP +themselves PRP B-NP +, , O +` `` O +All DT B-NP +brands NNS I-NP +are VBP B-VP +the DT B-NP +same JJ I-NP +so RB O +what WP B-NP +difference NN I-NP +does VBZ O +it PRP B-NP +make VBP B-VP +which WDT B-NP +I PRP B-NP +buy VBP B-VP +, , O +' '' O +'' '' O +says VBZ B-VP +Karen NNP B-NP +Olshan NNP I-NP +, , O +a DT B-NP +senior JJ I-NP +vice NN I-NP +president NN I-NP +at IN B-PP +BBDO NNP B-NP +. . O + +`` `` O +Too RB B-ADVP +often RB I-ADVP +, , O +advertising NN B-NP +imagery NN I-NP +has VBZ B-VP +n't RB I-VP +done VBN I-VP +a DT B-NP +good JJ I-NP +job NN I-NP +of IN B-PP +forging VBG B-VP +a DT B-NP +special JJ I-NP +emotional JJ I-NP +bond NN I-NP +between IN B-PP +a DT B-NP +brand NN I-NP +and CC O +the DT B-NP +consumer NN I-NP +. . O +'' '' O + +But CC O +given VBN B-PP +such JJ B-NP +strong JJ I-NP +brand NN I-NP +disloyalty NN I-NP +, , O +some DT B-NP +marketers NNS I-NP +are VBP B-VP +putting VBG I-VP +renewed VBN B-NP +emphasis NN I-NP +on IN B-PP +image NN B-NP +advertising NN I-NP +. . O + +A DT B-NP +small JJ I-NP +but CC I-NP +growing VBG I-NP +number NN I-NP +of IN B-PP +companies NNS B-NP +are VBP B-VP +also RB I-VP +trying VBG I-VP +to TO I-VP +instill VB I-VP +more RBR B-NP +fervent JJ I-NP +brand NN I-NP +loyalty NN I-NP +through IN B-PP +such JJ B-NP +personalized VBN I-NP +direct-marketing NN I-NP +ploys NNS I-NP +as IN B-PP +catalogs NNS B-NP +, , O +magazines NNS B-NP +and CC O +membership NN B-NP +clubs NNS I-NP +for IN B-PP +brand NN B-NP +users NNS I-NP +. . O + +While IN B-SBAR +discount NN B-NP +promotions NNS I-NP +are VBP B-VP +essential JJ B-ADJP +for IN B-PP +most RBS B-NP +brands NNS I-NP +, , O +some DT B-NP +companies NNS I-NP +concede VBP B-VP +they PRP B-NP +went VBD B-VP +overboard RB B-ADVP +in IN B-PP +shifting VBG B-VP +money NN B-NP +from IN B-PP +advertising NN B-NP +to TO B-PP +coupons NNS B-NP +, , O +refunds NNS B-NP +and CC O +other JJ B-NP +sales NNS I-NP +incentives NNS I-NP +. . O + +Some DT B-NP +people NNS I-NP +argue VBP B-VP +that IN B-SBAR +strong JJ B-NP +brands NNS I-NP +can MD B-VP +afford VB I-VP +to TO I-VP +stop VB I-VP +advertising NN I-VP +for IN B-PP +a DT B-NP +time NN I-NP +because IN B-PP +of IN I-PP +the DT B-NP +residual JJ I-NP +impact NN I-NP +of IN B-PP +hundreds NNS B-NP +of IN B-PP +millions NNS B-NP +of IN B-PP +dollars NNS B-NP +spent VBD B-VP +on IN B-PP +advertising NN B-NP +through IN B-PP +the DT B-NP +years NNS I-NP +. . O + +But CC O +most RBS B-NP +companies NNS I-NP +are VBP B-VP +too RB B-ADJP +afraid JJ I-ADJP +to TO B-VP +take VB I-VP +that DT B-NP +chance NN I-NP +. . O + +And CC O +perhaps RB B-ADVP +with IN B-PP +good JJ B-NP +reason NN I-NP +. . O + +Says VBZ B-VP +Clayt NNP B-NP +Wilhite NNP I-NP +, , O +president NN B-NP +of IN B-PP +the DT B-NP +D'Arcy NNP I-NP +Masius NNP I-NP +ad NN I-NP +agency NN I-NP +'s POS B-NP +U.S. NNP I-NP +division NN I-NP +, , O +`` `` O +Every DT B-NP +time NN I-NP +24 CD B-NP +hours NNS I-NP +pass VBP B-VP +without IN B-PP +any DT B-NP +advertising NN I-NP +reinforcement NN I-NP +, , O +brand NN B-NP +loyalty NN I-NP +will MD B-VP +diminish VB I-VP +ever RB B-ADVP +so RB I-ADVP +slightly RB I-ADVP +-- : O +even RB B-ADVP +for IN B-PP +a DT B-NP +powerful JJ I-NP +brand NN I-NP +like IN B-PP +Budweiser NNP B-NP +. . O +'' '' O + +Consider VB B-VP +, , O +for IN B-PP +example NN B-NP +, , O +what WP B-NP +happened VBD B-VP +to TO B-PP +Maxwell NNP B-NP +House NNP I-NP +coffee NN I-NP +. . O + +The DT B-NP +Kraft NNP I-NP +General NNP I-NP +Foods NNPS I-NP +brand NN I-NP +stopped VBD B-VP +advertising NN I-VP +for IN B-PP +about IN B-NP +a DT I-NP +year NN I-NP +in IN B-PP +1987 CD B-NP +and CC O +gave VBD B-VP +up IN B-PRT +several JJ B-NP +market NN I-NP +share NN I-NP +points NNS I-NP +and CC O +its PRP$ B-NP +leadership NN I-NP +position NN I-NP +in IN B-PP +the DT B-NP +coffee NN I-NP +business NN I-NP +. . O + +But CC O +since IN B-PP +returning VBG B-VP +to TO B-PP +advertising NN B-NP +, , O +Maxwell NNP B-NP +House NNP I-NP +has VBZ B-VP +regained VBN I-VP +the DT B-NP +lost VBN I-NP +share NN I-NP +and CC O +is VBZ B-VP +running VBG I-VP +neck NN B-ADVP +and CC I-ADVP +neck NN I-ADVP +with IN B-PP +archrival JJ B-NP +Folgers NNP I-NP +. . O + +`` `` O +Now RB B-ADVP +, , O +Philip NNP B-NP +Morris NNP I-NP +-LCB- ( O +Kraft NNP B-NP +General NNP I-NP +Foods NNPS I-NP +' POS B-NP +parent NN I-NP +company NN I-NP +-RCB- ) O +is VBZ B-VP +committed VBN B-ADJP +to TO B-PP +the DT B-NP +coffee NN I-NP +business NN I-NP +and CC B-PP +to TO B-PP +increased VB B-NP +advertising NN I-NP +for IN B-PP +Maxwell NNP B-NP +House NNP I-NP +, , O +'' '' O +says VBZ B-VP +Dick NNP B-NP +Mayer NNP I-NP +, , O +president NN B-NP +of IN B-PP +the DT B-NP +General NNP I-NP +Foods NNP I-NP +USA NNP I-NP +division NN I-NP +. . O + +`` `` O +Even RB B-SBAR +though IN I-SBAR +brand NN B-NP +loyalty NN I-NP +is VBZ B-VP +rather RB B-ADJP +strong JJ I-ADJP +for IN B-PP +coffee NN B-NP +, , O +we PRP B-NP +need VBP B-VP +advertising VBG B-NP +to TO B-VP +maintain VB I-VP +and CC I-VP +strengthen VB I-VP +it PRP B-NP +. . O +'' '' O + +Campbell NNP B-NP +Soup NNP I-NP +Co. NNP I-NP +, , O +for IN B-PP +one CD B-NP +, , O +has VBZ B-VP +concluded VBN I-VP +that IN B-SBAR +it PRP B-NP +makes VBZ B-VP +good JJ B-NP +sense NN I-NP +to TO B-VP +focus VB I-VP +more JJR B-ADVP +on IN B-PP +its PRP$ B-NP +most RBS I-NP +loyal JJ I-NP +customers NNS I-NP +than IN B-PP +on IN B-PP +people NNS B-NP +who WP B-NP +buy VBP B-VP +competitive JJ B-NP +brands NNS I-NP +. . O + +`` `` O +The DT B-NP +probability NN I-NP +of IN B-PP +converting VBG B-VP +a DT B-NP +non-user NN I-NP +to TO B-PP +your PRP$ B-NP +brand NN I-NP +is VBZ B-VP +about IN B-NP +three CD I-NP +in IN B-PP +1,000 CD B-NP +, , O +'' '' O +says VBZ B-VP +Tony NNP B-NP +Adams NNP I-NP +, , O +the DT B-NP +company NN I-NP +'s POS B-NP +vice NN I-NP +president NN I-NP +for IN B-PP +marketing NN B-NP +research NN I-NP +. . O + +`` `` O +The DT B-NP +best JJS I-NP +odds NNS I-NP +are VBP B-VP +with IN B-PP +your PRP$ B-NP +core NN I-NP +franchise NN I-NP +. . O + +Our PRP$ B-NP +heavy JJ I-NP +users NNS I-NP +consume VBP B-VP +two CD B-NP +to TO I-NP +three CD I-NP +cans NNS I-NP +of IN B-PP +soup NN B-NP +a DT B-NP +week NN I-NP +, , O +and CC O +we PRP B-NP +'d MD B-VP +like VB I-VP +to TO I-VP +increase VB I-VP +that DT B-NP +. . O +'' '' O + +So RB O +Campbell NNP B-NP +is VBZ B-VP +talking VBG I-VP +to TO B-PP +its PRP$ B-NP +`` `` I-NP +brand NN I-NP +enthusiasts NNS I-NP +, , O +'' '' O +probing VBG B-VP +their PRP$ B-NP +psychological JJ I-NP +attachment NN I-NP +to TO B-PP +its PRP$ B-NP +soup NN I-NP +. . O + +In IN B-PP +one CD B-NP +consumer NN I-NP +focus NN I-NP +group NN I-NP +, , O +a DT B-NP +fan NN I-NP +declared VBD B-VP +that IN B-SBAR +, , O +`` `` O +Campbell NNP B-NP +'s POS B-NP +soup NN I-NP +is VBZ B-VP +like IN B-PP +getting VBG B-VP +a DT B-NP +hug NN I-NP +from IN B-PP +a DT B-NP +friend NN I-NP +. . O +'' '' O + +That DT B-NP +helped VBD B-VP +persuade VB I-VP +the DT B-NP +company NN I-NP +to TO B-VP +introduce VB I-VP +a DT B-NP +new JJ I-NP +advertising NN I-NP +slogan NN I-NP +: : O +`` `` O +A DT B-NP +warm JJ I-NP +hug NN I-NP +from IN B-PP +Campbell NNP B-NP +'s POS B-NP +. . O +'' '' O + +Insurers NNS B-NP +face VBP B-VP +the DT B-NP +prospect NN I-NP +of IN B-PP +paying VBG B-VP +out RP B-PRT +billions NNS B-NP +of IN B-PP +dollars NNS B-NP +for IN B-PP +damages NNS B-NP +caused VBN B-VP +by IN B-PP +this DT B-NP +week NN I-NP +'s POS B-NP +California NNP I-NP +earthquake NN I-NP +. . O + +Getting VBG B-VP +a DT B-NP +grip NN I-NP +on IN B-PP +the DT B-NP +extent NN I-NP +of IN B-PP +the DT B-NP +damages NNS I-NP +is VBZ B-VP +proving VBG I-VP +a DT O +far RB B-ADVP +more RBR I-ADVP +difficult JJ B-NP +task NN I-NP +than IN B-PP +what WP B-NP +insurers NNS B-NP +faced VBN B-VP +after IN B-SBAR +Hurricane NNP B-NP +Hugo NNP I-NP +ripped VBD B-VP +through IN B-PP +the DT B-NP +Caribbean NNP I-NP +and CC O +the DT B-NP +Carolinas NNPS I-NP +last JJ B-NP +month NN I-NP +. . O + +The DT B-NP +earthquake NN I-NP +'s POS B-NP +toll NN I-NP +, , O +including VBG B-PP +possible JJ B-NP +deep JJ I-NP +structural JJ I-NP +damage NN I-NP +, , O +goes VBZ B-VP +far RB B-ADVP +beyond IN B-PP +the DT O +more RBR B-ADVP +easily RB I-ADVP +observed VBN B-NP +damage NN I-NP +from IN B-PP +a DT B-NP +hurricane NN I-NP +, , O +says VBZ B-VP +George NNP B-NP +Reider NNP I-NP +, , O +a DT B-NP +vice NN I-NP +president NN I-NP +in IN B-PP +Aetna NNP B-NP +Life NNP I-NP +& CC I-NP +Casualty NNP I-NP +Insurance NNP I-NP +Co. NNP I-NP +'s POS B-NP +claims NNS I-NP +division NN I-NP +. . O + +But CC O +investors NNS B-NP +are VBP B-VP +betting VBG I-VP +that IN B-SBAR +the DT B-NP +financial JJ I-NP +and CC I-NP +psychological JJ I-NP +impact NN I-NP +of IN B-PP +the DT B-NP +earthquake NN I-NP +, , O +coming VBG B-VP +so RB B-ADVP +soon RB I-ADVP +after IN B-PP +the DT B-NP +hurricane NN I-NP +, , O +will MD B-VP +help VB I-VP +stem VB I-VP +more JJR B-NP +than IN I-NP +two CD I-NP +years NNS I-NP +of IN B-PP +intense JJ B-NP +price-cutting NN I-NP +wars NNS I-NP +among IN B-PP +business NN B-NP +insurers NNS I-NP +. . O + +Reflecting VBG B-VP +that DT B-NP +logic NN I-NP +, , O +insurance-company NN B-NP +stocks NNS I-NP +posted VBD B-VP +strong JJ B-NP +gains NNS I-NP +. . O + +Aetna NNP B-NP +and CC O +other JJ B-NP +insurers NNS I-NP +are VBP B-VP +hiring VBG I-VP +engineers NNS B-NP +and CC I-NP +architects NNS I-NP +to TO B-VP +help VB I-VP +them PRP B-NP +assess VB B-VP +structural JJ B-NP +damage NN I-NP +. . O + +Most JJS B-NP +insurers NNS I-NP +already RB B-ADVP +have VBP B-VP +mobilized VBN I-VP +their PRP$ B-NP +`` `` I-NP +catastrophe NN I-NP +'' '' I-NP +teams NNS I-NP +to TO B-VP +begin VB I-VP +processing NN I-VP +claims NNS B-NP +from IN B-PP +their PRP$ B-NP +policyholders NNS I-NP +in IN B-PP +northern JJ B-NP +California NNP I-NP +. . O + +Since IN B-SBAR +commercial JJ B-NP +air NN I-NP +travel NN I-NP +is VBZ B-VP +interrupted VBN I-VP +, , O +Aetna NNP B-NP +, , O +based VBN B-VP +in IN B-PP +Hartford NNP B-NP +, , O +Conn. NNP B-NP +, , O +chartered JJ B-VP +three CD B-NP +planes NNS I-NP +to TO B-VP +fly VB I-VP +claims NNS B-NP +adjusters NNS I-NP +into IN B-PP +Sacramento NNP B-NP +and CC O +then RB O +planned VBN B-VP +for IN B-SBAR +them PRP B-NP +to TO B-VP +drive VB I-VP +to TO B-PP +the DT B-NP +Bay NNP I-NP +area NN I-NP +. . O + +About IN B-NP +25 CD I-NP +adjusters NNS I-NP +were VBD B-VP +dispatched VBN I-VP +yesterday NN B-NP +afternoon NN I-NP +, , O +along IN B-PP +with IN B-PP +laptop NN B-NP +computers NNS I-NP +, , O +cellular JJ B-NP +phones NNS I-NP +and CC O +blank JJ B-NP +checks NNS I-NP +. . O + +Some DT B-NP +adjusters NNS I-NP +, , O +already RB B-ADVP +in IN B-PP +other JJ B-NP +parts NNS I-NP +of IN B-PP +California NNP B-NP +, , O +drove VBD B-VP +to TO B-PP +the DT B-NP +disaster NN I-NP +area NN I-NP +with IN B-PP +recreational JJ B-NP +vehicles NNS I-NP +and CC O +mobile JJ B-NP +homes NNS I-NP +that WDT B-NP +could MD B-VP +be VB I-VP +used VBN I-VP +as IN B-PP +makeshift JJ B-NP +claims-processing NN I-NP +centers NNS I-NP +. . O + +Insurers NNS B-NP +will MD B-VP +be VB I-VP +advertising NN I-VP +800 CD B-NP +numbers NNS I-NP +-- : O +probably RB B-ADVP +on IN B-PP +the DT B-NP +radio NN I-NP +-- : O +that IN B-NP +policyholders NNS B-NP +can MD B-VP +call VB I-VP +to TO B-VP +get VB I-VP +assistance NN B-NP +on IN B-PP +how WRB B-ADVP +to TO B-VP +submit VB I-VP +claims NNS B-NP +. . O + +State NNP B-NP +Farm NNP I-NP +Mutual NNP I-NP +Automobile NNP I-NP +Insurance NNP I-NP +Co. NNP I-NP +, , O +the DT B-NP +largest JJS I-NP +home NN I-NP +and CC I-NP +auto NN I-NP +insurer NN I-NP +in IN B-PP +California NNP B-NP +, , O +believes VBZ B-VP +the DT B-NP +losses NNS I-NP +from IN B-PP +the DT B-NP +earthquake NN I-NP +could MD B-VP +be VB I-VP +somewhat RB B-ADJP +less JJR I-ADJP +than IN B-PP +the DT B-NP +$ $ I-NP +475 CD I-NP +million CD I-NP +in IN B-PP +damages NNS B-NP +it PRP B-NP +expects VBZ B-VP +to TO I-VP +pay VB I-VP +out RP B-PRT +for IN B-PP +claims NNS B-NP +resulting VBG B-VP +from IN B-PP +Hurricane NNP B-NP +Hugo NNP I-NP +. . O + +State NNP B-NP +Farm NNP I-NP +, , O +based VBN B-VP +in IN B-PP +Bloomington NNP B-NP +, , O +Ind. NNP B-NP +, , O +is VBZ B-VP +also RB B-ADVP +the DT B-NP +largest JJS I-NP +writer NN I-NP +of IN B-PP +personal-property NN B-NP +earthquake NN I-NP +insurance NN I-NP +in IN B-PP +California NNP B-NP +. . O + +Earthquake NN B-NP +insurance NN I-NP +is VBZ B-VP +sold VBN I-VP +as IN B-PP +a DT B-NP +separate JJ I-NP +policy NN I-NP +or CC O +a DT B-NP +specific JJ I-NP +endorsement NN I-NP +`` `` I-NP +rider NN I-NP +'' '' O +on IN B-PP +a DT B-NP +homeowner NN I-NP +'s POS B-NP +policy NN I-NP +in IN B-PP +California NNP B-NP +, , O +because IN B-PP +of IN I-PP +the DT B-NP +area NN I-NP +'s POS B-NP +vulnerability NN I-NP +to TO B-PP +earthquakes NNS B-NP +. . O + +State NNP B-NP +Farm NNP I-NP +said VBD B-VP +about IN B-NP +25 CD I-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +policyholders NNS I-NP +in IN B-PP +California NNP B-NP +have VBP B-VP +also RB I-VP +purchased VBN I-VP +earthquake NN B-NP +insurance NN I-NP +. . O + +Allstate NNP B-NP +Insurance NNP I-NP +Co. NNP I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +Sears NNP B-NP +, , I-NP +Roebuck NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +said VBD B-VP +about IN B-NP +23 CD I-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +personal JJ I-NP +property NN I-NP +policyholders NNS I-NP +-- : O +about IN B-NP +28 CD I-NP +% NN I-NP +in IN B-PP +the DT B-NP +San NNP I-NP +Franciso NNP I-NP +area NN I-NP +-- : O +also RB B-ADVP +have VBP B-VP +earthquake NN B-NP +coverage NN I-NP +. . O + +The DT B-NP +Association NNP I-NP +of IN B-PP +California NNP B-NP +Insurance NNP I-NP +Companies NNS I-NP +estimated VBD B-VP +damage NN B-NP +to TO B-PP +residential JJ B-NP +property NN I-NP +could MD B-VP +total VB I-VP +$ $ B-NP +500 CD I-NP +million CD I-NP +, , O +but CC O +only RB B-NP +$ $ I-NP +100 CD I-NP +million CD I-NP +to TO I-NP +$ $ I-NP +150 CD I-NP +million CD I-NP +is VBZ B-VP +insured VBN I-VP +, , O +it PRP B-NP +said VBD B-VP +. . O + +Officials NNS B-NP +from IN B-PP +the DT B-NP +American NNP I-NP +Insurance NNP I-NP +Association NNP I-NP +'s POS B-NP +property-claim NN I-NP +service NN I-NP +division NN I-NP +, , O +which WDT B-NP +coordinates VBZ B-VP +the DT B-NP +efforts NNS I-NP +of IN B-PP +the DT B-NP +claims NNS I-NP +adjusters NNS I-NP +in IN B-PP +an DT B-NP +area NN I-NP +after IN B-PP +a DT B-NP +natural JJ I-NP +disaster NN I-NP +, , O +will MD B-VP +be VB I-VP +flying VBG I-VP +to TO B-PP +San NNP B-NP +Francisco NNP I-NP +today NN B-NP +. . O + +They PRP B-NP +expect VBP B-VP +to TO I-VP +have VB I-VP +a DT B-NP +preliminary JJ I-NP +estimate NN I-NP +of IN B-PP +the DT B-NP +damages NNS I-NP +in IN B-PP +a DT B-NP +day NN I-NP +or CC I-NP +two CD I-NP +. . O + +Roads NNP B-NP +and CC I-NP +bridges NNS I-NP +in IN B-PP +the DT B-NP +Bay NNP I-NP +area NN I-NP +appear VB B-VP +to TO I-VP +have VB I-VP +suffered VBN I-VP +some DT B-NP +of IN B-PP +the DT B-NP +most RBS I-NP +costly JJ I-NP +damage NN I-NP +. . O + +Highways NNS B-NP +, , O +such JJ B-PP +as IN I-PP +the DT B-NP +section NN I-NP +of IN B-PP +Interstate NNP B-NP +880 CD I-NP +that WDT B-NP +collapsed VBD B-VP +in IN B-PP +Oakland NNP B-NP +, , O +generally RB B-ADVP +do VBP B-VP +n't RB I-VP +have VB I-VP +insurance NN B-NP +coverage NN I-NP +. . O + +Industry NN B-NP +officials NNS I-NP +say VBP B-VP +the DT B-NP +Bay NNP I-NP +Bridge NNP I-NP +-- : O +unlike IN B-PP +some DT B-NP +bridges NNS I-NP +-- : O +has VBZ B-VP +no DT B-NP +earthquake NN I-NP +coverage NN I-NP +, , O +either DT B-ADVP +, , O +so RB O +the DT B-NP +cost NN I-NP +of IN B-PP +repairing VBG B-VP +it PRP B-NP +probably RB B-ADVP +would MD B-VP +have VB I-VP +to TO I-VP +be VB I-VP +paid VBN I-VP +out IN B-PP +of IN B-PP +state NN B-NP +general JJ I-NP +operating NN I-NP +funds NNS I-NP +. . O + +However RB B-ADVP +, , O +the DT B-NP +bridge NN I-NP +, , O +which WDT B-NP +charges VBZ B-VP +a DT B-NP +$ $ I-NP +1 CD I-NP +toll NN I-NP +each DT B-NP +way NN I-NP +, , O +does VBZ B-VP +have VBP I-VP +`` `` O +loss NN O +of IN B-PP +income NN B-NP +'' '' B-NP +insurance NN I-NP +to TO B-VP +replace VB I-VP +lost VBD B-NP +revenue NN I-NP +if IN B-SBAR +the DT B-NP +operation NN I-NP +of IN B-PP +the DT B-NP +bridge NN I-NP +is VBZ B-VP +interrupted VBN B-ADJP +for IN B-PP +more JJR B-NP +than IN I-NP +seven CD I-NP +days NNS I-NP +. . O + +That DT B-NP +coverage NN I-NP +is VBZ B-VP +provided VBN I-VP +by IN B-PP +a DT B-NP +syndicate NN I-NP +of IN B-PP +insurance NN B-NP +companies NNS I-NP +including VBG B-PP +Fireman NNP B-NP +'s POS B-NP +Fund NNP I-NP +Corp. NNP I-NP +, , O +based VBN B-VP +in IN B-PP +Novato NNP B-NP +, , O +Calif. NNP B-NP +, , O +and CC O +Cigna NNP B-NP +Corp. NNP I-NP +, , O +based VBN B-VP +in IN B-PP +Philadelphia NNP B-NP +. . O + +Earthquake-related JJ B-NP +claims NNS I-NP +are VBP B-VP +n't RB I-VP +expected VBN I-VP +to TO I-VP +cause VB I-VP +significant JJ B-NP +financial JJ I-NP +problems NNS I-NP +for IN B-PP +the DT B-NP +insurance NN I-NP +industry NN I-NP +as IN B-PP +a DT B-NP +whole NN I-NP +. . O + +Instead RB B-ADVP +, , O +even RB B-ADVP +with IN B-PP +the DT B-NP +liabilities NNS I-NP +of IN B-PP +two CD B-NP +natural JJ I-NP +disasters NNS I-NP +in IN B-PP +recent JJ B-NP +weeks NNS I-NP +, , O +analysts NNS B-NP +said VBD B-VP +the DT B-NP +total JJ I-NP +capital NN I-NP +of IN B-PP +the DT B-NP +industry NN I-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +higher JJR B-ADJP +at IN B-PP +year NN B-NP +end NN I-NP +than IN B-SBAR +it PRP B-NP +was VBD B-VP +at IN B-PP +midyear NN B-NP +. . O + +Indeed RB B-ADVP +, , O +the DT B-NP +earthquake NN I-NP +could MD B-VP +contribute VB I-VP +to TO B-PP +a DT B-NP +turnaround NN I-NP +in IN B-PP +the DT B-NP +insurance NN I-NP +cycle NN I-NP +in IN B-PP +a DT B-NP +couple NN I-NP +of IN B-PP +ways NNS B-NP +. . O + +For IN B-PP +example NN B-NP +, , O +insurers NNS B-NP +may MD B-VP +seek VB I-VP +to TO I-VP +limit VB I-VP +their PRP$ B-NP +future NN I-NP +exposure NN I-NP +to TO B-PP +catastrophes NNS B-NP +by IN B-PP +increasing VBG B-VP +the DT B-NP +amount NN I-NP +of IN B-PP +reinsurance NN B-NP +they PRP B-NP +buy VBP B-VP +. . O + +Such JJ B-NP +increased VBN I-NP +demand NN I-NP +for IN B-PP +reinsurance NN B-NP +, , O +along IN B-PP +with IN B-PP +the DT B-NP +losses NNS I-NP +the DT B-NP +reinsurers NNS I-NP +will MD B-VP +bear VB I-VP +from IN B-PP +these DT B-NP +two CD I-NP +disasters NNS I-NP +, , O +are VBP B-VP +likely JJ B-ADJP +to TO B-VP +spur VB I-VP +increases NNS B-NP +in IN B-PP +reinsurance NN B-NP +prices NNS I-NP +that WDT B-NP +will MD B-VP +later RB I-VP +be VB I-VP +translated VBN I-VP +into IN B-PP +an DT B-NP +overall JJ I-NP +price NN I-NP +rise NN I-NP +. . O + +Reinsurance NNP B-NP +is VBZ B-VP +protection NN B-NP +taken VBN B-VP +out IN B-ADVP +by IN B-PP +the DT B-NP +insurance NN I-NP +firms NNS I-NP +themselves PRP O +. . O + +`` `` O +We PRP B-NP +are VBP B-VP +saying VBG I-VP +this DT B-NP +is VBZ B-VP +the DT B-NP +breaking VBG I-NP +point NN I-NP +, , O +this DT B-NP +is VBZ B-VP +the DT B-NP +event NN I-NP +that WDT B-NP +will MD B-VP +change VB I-VP +the DT B-NP +psychology NN I-NP +of IN B-PP +the DT B-NP +marketplace NN I-NP +, , O +'' '' O +said VBD B-VP +William NNP B-NP +Yankus NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +with IN B-PP +Conning NNP B-NP +& CC I-NP +Co. NNP I-NP +, , O +a DT B-NP +Hartford NNP I-NP +firm NN I-NP +that WDT B-NP +specializes VBZ B-VP +in IN B-PP +the DT B-NP +insurance NN I-NP +industry NN I-NP +. . O + +His PRP$ B-NP +firm NN I-NP +, , O +along IN B-PP +with IN B-PP +some DT B-NP +others NNS I-NP +, , O +issued VBN B-VP +new JJ B-NP +buy NN I-NP +recommendations NNS I-NP +on IN B-PP +insurer NN B-NP +stocks NNS I-NP +yesterday NN B-NP +. . O + +Among IN B-PP +the DT B-NP +insurance NN I-NP +stocks NNS I-NP +, , O +big JJ B-NP +gainers NNS I-NP +included VBD B-VP +American NNP B-NP +International NNP I-NP +Group NNP I-NP +, , O +up IN B-ADVP +$ $ B-NP +3.25 CD I-NP +to TO B-PP +$ $ B-NP +102.625 CD I-NP +; : O +General NNP B-NP +Re NNP I-NP +Corp. NNP I-NP +, , O +up IN B-ADVP +$ $ B-NP +2.75 CD I-NP +to TO B-PP +$ $ B-NP +86.50 CD I-NP +; : O +Aetna NNP B-NP +, , O +up IN B-ADVP +$ $ B-NP +2.375 CD I-NP +to TO B-PP +$ $ B-NP +59.50 CD I-NP +; : O +and CC O +Marsh NNP B-NP +& CC I-NP +McLennan NNP I-NP +Inc. NNP I-NP +, , O +up IN B-ADVP +$ $ B-NP +3.125 CD I-NP +to TO B-PP +$ $ B-NP +75.875 CD I-NP +. . O + +Still RB B-ADVP +, , O +a DT B-NP +few JJ I-NP +individual JJ I-NP +companies NNS I-NP +, , O +most RBS B-ADVP +likely RB I-ADVP +smaller JJR B-NP +ones NNS I-NP +, , O +could MD B-VP +be VB I-VP +devastated VBN I-VP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +there EX B-NP +is VBZ B-VP +a DT B-NP +damned JJ I-NP +good JJ I-NP +chance NN I-NP +someone NN B-NP +is VBZ B-VP +going VBG I-VP +to TO I-VP +hit VB I-VP +the DT B-NP +skids NNS I-NP +on IN B-PP +this DT B-NP +, , O +'' '' O +said VBD B-VP +Oppenheimer NNP B-NP +& CC I-NP +Co. NNP I-NP +analyst NN I-NP +Myron NNP I-NP +Picoult NNP I-NP +. . O + +He PRP B-NP +suspects VBZ B-VP +some DT B-NP +insurers NNS I-NP +who WP B-NP +had VBD B-VP +purchased VBN I-VP +reinsurance NN B-NP +to TO B-VP +limit VB I-VP +their PRP$ B-NP +exposure NN I-NP +to TO B-PP +catastrophes NNS B-NP +will MD B-VP +discover VB I-VP +that DT B-NP +reinsurance NN I-NP +was VBD B-VP +used VBN I-VP +up IN B-PRT +by IN B-PP +Hurricane NNP B-NP +Hugo NNP I-NP +. . O + +British JJ B-NP +, , I-NP +West JJ I-NP +German NN I-NP +, , I-NP +Scandinavian NNP I-NP +and CC I-NP +other JJ I-NP +overseas JJ I-NP +insurers NNS I-NP +are VBP B-VP +bracing VBG I-VP +for IN B-PP +big JJ B-NP +claims NNS I-NP +from IN B-PP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +earthquake NN I-NP +disaster NN I-NP +. . O + +Although IN B-SBAR +it PRP B-NP +'s VBZ B-VP +unclear JJ B-ADJP +how WRB B-ADVP +much JJ O +exposure NN B-NP +the DT B-NP +London NNP I-NP +market NN I-NP +will MD B-VP +face VB I-VP +, , O +U.K. NNP B-NP +underwriters NNS O +traditionally RB B-ADVP +have VBP B-VP +a DT B-NP +large JJ I-NP +reinsurance NN I-NP +exposure NN I-NP +to TO B-PP +U.S. NNP B-NP +catastrophe NN I-NP +coverage NN I-NP +. . O + +Jack NNP B-NP +Byrne NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +Fireman NNP B-NP +'s POS B-NP +Fund NNP I-NP +, , O +said VBD B-VP +this DT B-NP +disaster NN I-NP +will MD B-VP +test VB I-VP +the DT B-NP +catastrophe NN I-NP +reinsurance NN I-NP +market NN I-NP +, , O +causing VBG B-VP +these DT B-NP +rates NNS I-NP +to TO B-VP +soar VB I-VP +. . O + +The DT B-NP +catastrophe NN I-NP +losses NNS I-NP +sustained VBN B-VP +by IN B-PP +insurers NNS B-NP +this DT B-NP +year NN I-NP +will MD B-VP +probably RB I-VP +be VB I-VP +the DT B-NP +worst JJS I-NP +on IN B-PP +an DT B-NP +inflation-adjusted JJ I-NP +basis NN I-NP +since IN B-PP +1906 CD B-NP +-- : O +when WRB B-ADVP +another DT B-NP +earthquake NN I-NP +sparked VBD B-VP +the DT B-NP +Great NNP I-NP +San NNP I-NP +Francisco NNP I-NP +Fire NNP I-NP +. . O + +Orin NNP B-NP +Kramer NNP I-NP +, , O +an DT B-NP +insurance NN I-NP +consultant NN I-NP +in IN B-PP +New NNP B-NP +York NNP I-NP +, , O +estimates VBZ B-VP +that IN B-SBAR +the DT B-NP +1906 CD I-NP +San NNP I-NP +Francisco NNP I-NP +destruction NN I-NP +, , O +on IN B-PP +an DT B-NP +inflation-adjusted JJ I-NP +basis NN I-NP +, , O +included VBD B-VP +insured VBN B-NP +losses NNS I-NP +of IN B-PP +$ $ B-NP +5.8 CD I-NP +billion CD I-NP +. . O + +He PRP B-NP +is VBZ B-VP +estimating VBG I-VP +this DT B-NP +week NN I-NP +'s POS B-NP +disaster NN I-NP +will MD B-VP +generate VB I-VP +insured VBN B-NP +losses NNS I-NP +of IN B-PP +$ $ B-NP +2 CD I-NP +billion CD I-NP +to TO O +$ $ B-NP +4 CD I-NP +billion CD I-NP +, , O +following VBG B-PP +about RB B-NP +$ $ I-NP +4 CD I-NP +billion CD I-NP +in IN B-PP +costs NNS B-NP +to TO B-PP +insurers NNS B-NP +from IN B-PP +Hurricane NNP B-NP +Hugo NNP I-NP +. . O + +Silicon NNP B-NP +Graphics NNP I-NP +Inc. NNP I-NP +'s POS B-NP +first-quarter JJ I-NP +profit NN I-NP +rose VBD B-VP +sharply RB B-ADVP +to TO B-PP +$ $ B-NP +5.2 CD I-NP +million CD I-NP +, , O +or CC O +28 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +1 CD I-NP +million CD I-NP +, , O +or CC O +six CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +The DT B-NP +maker NN I-NP +of IN B-PP +computer NN B-NP +workstations NNS I-NP +said VBD B-VP +a DT B-NP +surge NN I-NP +of IN B-PP +government NN B-NP +orders NNS I-NP +contributed VBD B-VP +to TO B-PP +the DT B-NP +increase NN I-NP +. . O + +Revenue NN B-NP +rose VBD B-VP +95 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +86.4 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +44.3 CD I-NP +million CD I-NP +the DT B-NP +year NN I-NP +earlier RBR B-ADJP +. . O + +In IN B-PP +national JJ B-NP +over-the-counter JJ I-NP +trading NN I-NP +, , O +the DT B-NP +company NN I-NP +closed VBD B-VP +yesterday NN B-NP +at IN B-PP +$ $ B-NP +23.25 CD I-NP +a DT B-NP +share NN I-NP +, , O +down RB B-ADVP +25 CD B-NP +cents NNS I-NP +. . O + +Hunter NNP B-NP +Environmental NNP I-NP +Services NNP I-NP +Inc. NNP I-NP +said VBD B-VP +it PRP B-NP +reached VBD B-VP +a DT B-NP +preliminary JJ I-NP +accord NN I-NP +on IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +its PRP$ B-NP +environmental JJ I-NP +consulting NN I-NP +and CC I-NP +services NNS I-NP +business NN I-NP +for IN B-PP +about RB B-NP +$ $ I-NP +40 CD I-NP +million CD I-NP +and CC O +assumption NN B-NP +of IN B-PP +related VBN B-NP +debt NN I-NP +. . O + +The DT B-NP +buyer NN I-NP +was VBD B-VP +n't RB I-VP +identified VBN I-VP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +it PRP B-NP +also RB B-ADVP +is VBZ B-VP +making VBG I-VP +progress NN B-NP +in IN B-PP +negotiating VBG B-VP +the DT B-NP +buy-out NN I-NP +of IN B-PP +its PRP$ B-NP +design NN I-NP +division NN I-NP +by IN B-PP +management NN B-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +Hunter NNP B-NP +said VBD B-VP +it PRP B-NP +will MD B-VP +use VB I-VP +proceeds NNS B-NP +from IN B-PP +a DT B-NP +private JJ I-NP +placement NN I-NP +of IN B-PP +$ $ B-NP +8 CD I-NP +million CD I-NP +of IN B-PP +preferred JJ B-NP +shares NNS I-NP +to TO B-VP +purchase VB I-VP +an DT B-NP +interest NN I-NP +in IN B-PP +a DT B-NP +start-up JJ I-NP +company NN I-NP +to TO B-VP +underwrite VB I-VP +environmental JJ B-NP +impairment NN I-NP +insurance NN I-NP +. . O + +Hunter NNP B-NP +wants VBZ B-VP +to TO I-VP +concentrate VB I-VP +its PRP$ B-NP +resources NNS I-NP +on IN B-PP +the DT B-NP +insurance NN I-NP +business NN I-NP +and CC B-PP +on IN B-PP +a DT B-NP +project NN I-NP +to TO B-VP +store VB I-VP +hazardous JJ B-NP +wastes NNS I-NP +in IN B-PP +salt NN B-NP +domes NNS I-NP +. . O + +Jaguar NNP B-NP +PLC NNP I-NP +'s POS B-NP +chairman NN I-NP +said VBD B-VP +he PRP B-NP +hopes VBZ B-VP +to TO I-VP +reach VB I-VP +a DT B-NP +friendly JJ I-NP +pact NN I-NP +with IN B-PP +General NNP B-NP +Motors NNPS I-NP +Corp. NNP I-NP +within IN B-PP +a DT B-NP +month NN I-NP +that WDT B-NP +may MD B-VP +involve VB I-VP +the DT B-NP +British JJ I-NP +luxury-car NN I-NP +maker NN I-NP +'s VBZ I-NP +producing VBG B-VP +a DT B-NP +cheaper JJR I-NP +executive JJ I-NP +model NN I-NP +. . O + +Sir NNP B-NP +John NNP I-NP +Egan NNP I-NP +told VBD B-VP +reporters NNS B-NP +at IN B-PP +London NNP B-NP +'s POS B-NP +Motorfair NNP I-NP +yesterday NN B-NP +he PRP B-NP +`` `` O +would MD B-VP +be VB I-VP +disappointed VBN B-ADJP +if IN B-SBAR +we PRP B-NP +could MD B-VP +n't RB I-VP +do VB I-VP +-LCB- ( O +the DT B-NP +deal NN I-NP +-RCB- ) O +within IN B-PP +a DT B-NP +month NN I-NP +. . O +'' '' O + +He PRP B-NP +said VBD B-VP +the DT B-NP +tie-up NN I-NP +would MD B-VP +mean VB I-VP +Jaguar NNP B-NP +could MD B-VP +`` `` O +develop VB B-VP +cars NNS B-NP +down JJ B-ADJP +range NN I-ADJP +-LCB- ( O +in IN B-PP +price NN B-NP +-RCB- ) O +from IN B-PP +where WRB B-ADVP +we PRP B-NP +are VBP B-VP +'' '' O +by IN B-PP +offering NN B-VP +access NN B-NP +to TO B-PP +GM NNP B-NP +'s POS B-NP +high-volume JJ I-NP +parts NNS I-NP +production NN I-NP +. . O + +Besides IN B-PP +creating VBG B-VP +joint JJ B-NP +manufacturing NN I-NP +ventures NNS I-NP +, , O +the DT B-NP +accord NN I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +give VB I-VP +GM NNP B-NP +about IN B-NP +a DT I-NP +15 CD I-NP +% NN I-NP +stake NN I-NP +that IN B-NP +eventually RB B-ADVP +would MD B-VP +rise VB I-VP +to TO B-PP +about IN B-NP +30 CD I-NP +% NN I-NP +. . O + +Jaguar NN B-NP +figures VBZ B-VP +a DT B-NP +friendly JJ I-NP +alliance NN I-NP +with IN B-PP +GM NNP B-NP +will MD B-VP +fend VB I-VP +off IN B-PRT +unwelcome JJ B-NP +advances NNS I-NP +from IN B-PP +Ford NNP B-NP +Motor NNP I-NP +Co NNP I-NP +. . O + +But CC O +Ford NNP B-NP +, , O +Jaguar NNP B-NP +'s POS B-NP +biggest JJS I-NP +shareholder NN I-NP +since IN B-PP +lifting VBG B-VP +its PRP$ B-NP +stake NN I-NP +to TO B-PP +10.4 CD B-NP +% NN I-NP +this DT B-NP +week NN I-NP +, , O +is VBZ B-VP +pressing VBG I-VP +harder JJR B-ADVP +for IN B-PP +talks NNS B-NP +with IN B-PP +Sir NNP B-NP +John NNP I-NP +. . O + +`` `` O +We PRP B-NP +'re VBP B-VP +getting VBG I-VP +to TO B-PP +the DT B-NP +point NN I-NP +where WRB B-ADVP +we PRP B-NP +are VBP B-VP +going VBG I-VP +to TO I-VP +have VB I-VP +to TO I-VP +meet VB I-VP +'' '' O +with IN B-PP +him PRP B-NP +, , O +one CD B-NP +Ford NNP I-NP +official NN I-NP +said VBD B-VP +yesterday NN B-NP +. . O + +Ford NNP B-NP +probably RB B-ADVP +will MD B-VP +renew VB I-VP +its PRP$ B-NP +request NN I-NP +for IN B-PP +such JJ B-NP +a DT I-NP +meeting NN I-NP +soon RB B-ADVP +, , O +he PRP B-NP +added VBD B-VP +. . O + +Sir NNP B-NP +John NNP I-NP +has VBZ B-VP +spurned VBN I-VP +Ford NNP B-NP +'s POS B-NP +advances NNS I-NP +since IN B-SBAR +the DT B-NP +U.S. NNP I-NP +auto NN I-NP +giant NN I-NP +launched VBD B-VP +a DT B-NP +surprise NN I-NP +bid NN I-NP +for IN B-PP +as RB B-NP +much JJ I-NP +as IN I-NP +15 CD I-NP +% NN I-NP +of IN B-PP +Jaguar NNP B-NP +last JJ B-NP +month NN I-NP +. . O + +Ford NNP B-NP +has VBZ B-VP +signaled VBN I-VP +it PRP B-NP +might MD B-VP +acquire VB I-VP +a DT B-NP +majority NN I-NP +interest NN I-NP +later RB B-ADVP +. . O + +`` `` O +I PRP B-NP +'m VBP B-VP +not RB I-VP +obligated VBN I-VP +to TO I-VP +sit VB I-VP +down RB B-ADVP +and CC O +talk VB B-VP +to TO B-PP +anybody NN B-NP +, , O +'' '' O +the DT B-NP +Jaguar NNP I-NP +chairman NN I-NP +asserted VBD B-VP +yesterday NN B-NP +. . O + +He PRP B-NP +did VBD B-VP +n't RB I-VP +rule VB I-VP +out RP B-PRT +negotiations NNS B-NP +with IN B-PP +Ford NNP B-NP +, , O +however RB B-ADVP +. . O + +The DT B-NP +fiercely RB I-NP +proud JJ I-NP +but CC I-NP +financially RB I-NP +strapped VBN I-NP +British JJ I-NP +company NN I-NP +prefers VBZ B-VP +to TO I-VP +remain VB I-VP +independent JJ B-ADJP +and CC O +publicly RB B-ADJP +held VBN I-ADJP +, , O +despite IN B-PP +Ford NNP B-NP +'s POS B-NP +promise NN I-NP +of IN B-PP +access NN B-NP +to TO B-PP +cash VB B-NP +and CC O +technological JJ B-NP +know-how NN I-NP +. . O + +Sir NNP B-NP +John NNP I-NP +noted VBD B-VP +that IN B-SBAR +GM NNP B-NP +, , O +a DT B-NP +longtime JJ I-NP +Jaguar NNP I-NP +supplier NN I-NP +, , O +agrees VBZ B-VP +`` `` O +we PRP B-NP +should MD B-VP +remain VB I-VP +an DT B-NP +independent JJ I-NP +company NN I-NP +. . O +'' '' O + +He PRP B-NP +said VBD B-VP +Jaguar NNP B-NP +started VBD B-VP +negotiating VBG I-VP +with IN B-PP +GM NNP B-NP +and CC O +several JJ B-NP +other JJ I-NP +car NN I-NP +makers NNS I-NP +over IN B-NP +a DT I-NP +year NN I-NP +ago RB B-ADVP +, , O +but CC O +the DT B-NP +rest NN I-NP +`` `` O +dropped VBN B-VP +by IN B-PP +the DT B-NP +wayside NN I-NP +ever RB B-ADVP +since IN B-SBAR +the DT B-NP +share NN I-NP +price NN I-NP +went VBD B-VP +above IN B-PP +# # B-NP +4 CD I-NP +-LRB- ( O +$ $ B-NP +6.30 CD I-NP +-RRB- ) O +a DT B-NP +share NN I-NP +. . O +'' '' O + +Jaguar NN B-NP +shares NNS I-NP +stood VBD B-VP +at IN B-PP +405 CD B-NP +pence NN I-NP +before IN B-PP +Ford NNP B-NP +'s POS B-NP +initial JJ I-NP +announcement NN I-NP +, , O +but CC O +the DT B-NP +subsequent JJ I-NP +takeover NN I-NP +frenzy NN I-NP +has VBZ B-VP +driven VBN I-VP +them PRP B-NP +up RB B-ADVP +. . O + +The DT B-NP +stock NN I-NP +traded VBD B-VP +late JJ B-NP +yesterday NN I-NP +on IN B-PP +London NNP B-NP +'s POS B-NP +stock NN I-NP +exchange NN I-NP +at IN B-PP +673 CD B-NP +pence NN I-NP +, , O +up IN B-ADVP +19 CD B-NP +pence NN I-NP +. . O + +Developing VBG B-VP +an DT B-NP +executive-model JJ I-NP +range NN I-NP +would MD B-VP +mark VB I-VP +a DT B-NP +major JJ I-NP +departure NN I-NP +for IN B-PP +Britain NNP B-NP +'s POS B-NP +leading VBG I-NP +luxury-car NN I-NP +maker NN I-NP +. . O + +A DT B-NP +typical JJ I-NP +British JJ I-NP +executive JJ I-NP +car NN I-NP +is VBZ B-VP +mass NN B-ADJP +produced VBN I-ADJP +and CC O +smaller JJR B-ADJP +than IN B-PP +a DT B-NP +luxury NN I-NP +car NN I-NP +. . O + +It PRP B-NP +generally RB B-ADVP +fetches VBZ B-VP +no DT B-NP +more JJR I-NP +than IN B-PP +# # B-NP +25,000 CD I-NP +-LRB- ( O +$ $ B-NP +39,400 CD I-NP +-RRB- ) O +-- : O +roughly RB B-NP +# # I-NP +16,000 CD I-NP +less JJR B-ADJP +than IN B-PP +the DT B-NP +highest-priced JJS I-NP +Jaguars NNPS I-NP +, , O +which WDT B-NP +are VBP B-VP +all DT O +known VBN B-VP +for IN B-PP +their PRP$ B-NP +hand-crafted JJ I-NP +leather NN I-NP +work NN I-NP +. . O + +`` `` O +We PRP B-NP +have VBP B-VP +designs NNS B-NP +for IN B-PP +such JJ B-NP +-LCB- ( I-NP +executive NN I-NP +-RCB- ) I-NP +cars NNS I-NP +, , O +but CC O +have VBP B-VP +never RB I-VP +been VBN I-VP +able JJ B-ADJP +to TO B-VP +develop VB I-VP +them PRP B-NP +, , O +'' '' O +Sir NNP B-NP +John NNP I-NP +said VBD B-VP +. . O + +GM NNP B-NP +'s POS B-NP +help NN I-NP +would MD B-VP +`` `` O +make VB B-VP +it PRP B-NP +possible JJ B-ADJP +-LCB- ( B-SBAR +for IN I-SBAR +Jaguar NNP B-NP +-RCB- ) O +to TO B-VP +build VB I-VP +a DT B-NP +wider JJR I-NP +range NN I-NP +of IN B-PP +cars NNS B-NP +. . O +'' '' O + +An DT B-NP +executive JJ I-NP +model NN I-NP +would MD B-VP +significantly RB I-VP +boost VB I-VP +Jaguar NNP B-NP +'s POS B-NP +yearly JJ I-NP +output NN I-NP +of IN B-PP +50,000 CD B-NP +cars NNS I-NP +. . O + +`` `` O +You PRP B-NP +are VBP B-VP +talking VBG I-VP +about IN B-PP +a DT B-NP +couple NN I-NP +hundred CD I-NP +thousand CD I-NP +a DT B-NP +year NN I-NP +, , O +'' '' O +said VBD B-VP +Bob NNP B-NP +Barber NNP I-NP +, , O +an DT B-NP +auto-industry NN I-NP +analyst NN I-NP +at IN B-PP +U.K. NNP B-NP +brokerage NN I-NP +James NNP I-NP +Capel NNP I-NP +& CC I-NP +Co NNP I-NP +. . O + +A DT B-NP +pact NN I-NP +with IN B-PP +GM NNP B-NP +may MD B-VP +emerge VB I-VP +in IN B-PP +as RB B-NP +little JJ I-NP +as IN I-NP +two CD I-NP +weeks NNS I-NP +, , O +according VBG B-PP +to TO B-PP +sources NNS B-NP +close VBP B-ADJP +to TO B-PP +the DT B-NP +talks NNS I-NP +. . O + +The DT B-NP +deal NN I-NP +would MD B-VP +require VB I-VP +approval NN B-NP +by IN B-PP +a DT B-NP +majority NN I-NP +of IN B-PP +Jaguar NNP B-NP +shareholders NNS I-NP +. . O + +`` `` O +We PRP B-NP +have VBP B-VP +to TO I-VP +make VB I-VP +it PRP B-NP +attractive JJ B-ADJP +enough RB I-ADJP +that IN B-SBAR +-LCB- ( O +holders NNS B-NP +-RCB- ) O +would MD B-VP +accept VB I-VP +it PRP B-NP +, , O +'' '' O +Sir NNP B-NP +John NNP I-NP +said VBD B-VP +. . O + +That DT B-NP +may MD B-VP +be VB I-VP +difficult JJ B-ADJP +, , O +the DT B-NP +Jaguar NNP I-NP +chairman NN I-NP +acknowledged VBD B-VP +, , O +`` `` O +when WRB B-ADVP +you PRP B-NP +have VBP B-VP +somebody NN B-NP +else JJ B-ADJP +breathing NN B-VP +down RB B-PP +your PRP$ B-NP +neck NN I-NP +. . O + +'' '' O +Ford NNP B-NP +probably RB B-ADVP +would MD B-VP +try VB I-VP +to TO I-VP +kill VB I-VP +the DT B-NP +proposal NN I-NP +by IN B-PP +enlisting VBG B-VP +support NN B-NP +from IN B-PP +U.S. NNP B-NP +takeover-stock JJ I-NP +speculators NNS I-NP +and CC O +holding VBG B-VP +out RP B-PRT +the IN B-NP +carrot NN I-NP +of IN B-PP +a DT B-NP +larger JJR I-NP +bid NN I-NP +later RB B-ADVP +, , O +said VBD B-VP +Stephen NNP B-NP +Reitman NNP I-NP +, , O +European JJ B-NP +auto NN I-NP +analyst NN I-NP +at IN B-PP +London NNP B-NP +brokers NNS I-NP +UBS NNP I-NP +Phillips NNP I-NP +& CC I-NP +Drew NNP I-NP +. . O + +Ford NNP B-NP +ca MD B-VP +n't RB I-VP +make VB I-VP +a DT B-NP +full-fledged JJ I-NP +bid NN I-NP +for IN B-PP +Jaguar NNP B-NP +until IN B-SBAR +U.K. NNP B-NP +government NN I-NP +restrictions NNS I-NP +expire VBP B-VP +. . O + +The DT B-NP +anti-takeover JJ I-NP +measure NN I-NP +prevents VBZ B-VP +any DT B-NP +outside JJ I-NP +investor NN I-NP +from IN B-PP +buying VBG B-VP +more JJR B-NP +than IN I-NP +15 CD I-NP +% NN I-NP +of IN B-PP +Jaguar NNP B-NP +shares NNS I-NP +without IN B-PP +permission NN B-NP +until IN B-PP +Dec. NNP B-NP +31 CD I-NP +, , I-NP +1990 CD I-NP +. . O + +But CC O +with IN B-PP +its PRP$ B-NP +10.4 CD I-NP +% NN I-NP +stake NN I-NP +, , O +Ford NNP B-NP +can MD B-VP +convene VB I-VP +a DT O +special JJ O +Jaguar NNP B-NP +shareholders NNS I-NP +' POS B-NP +meeting NN I-NP +and CC O +urge VB B-VP +them PRP B-NP +to TO B-VP +drop VB I-VP +the DT B-NP +restrictions NNS I-NP +prematurely RB B-ADVP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +a DT B-NP +very RB I-NP +valuable JJ I-NP +weapon NN I-NP +in IN B-PP +their PRP$ B-NP +armory NN I-NP +, , O +'' '' O +which WDT B-NP +could MD B-VP +enable VB I-VP +Ford NNP B-NP +to TO B-VP +bid VB I-VP +sooner RBR B-ADVP +for IN B-PP +Jaguar NNP B-NP +, , O +observed VBN B-VP +Mr. NNP B-NP +Barber NNP I-NP +of IN B-PP +James NNP B-NP +Capel NNP I-NP +. . O + +Otherwise RB B-ADVP +, , O +Jaguar NNP B-NP +may MD B-VP +have VB I-VP +to TO I-VP +tolerate VB I-VP +the DT B-NP +two CD I-NP +U.S. NNP I-NP +auto NN I-NP +giants NNS I-NP +each DT O +owning VBG B-VP +a DT B-NP +15 CD I-NP +% NN I-NP +stake NN I-NP +for IN B-PP +more JJR B-NP +than IN B-PP +a DT B-NP +year NN I-NP +. . O + +`` `` O +It PRP B-NP +would MD B-VP +be VB I-VP +difficult JJ B-ADJP +to TO B-VP +see VB I-VP +how WRB B-ADVP +a DT B-NP +car NN I-NP +company NN I-NP +can MD B-VP +be VB I-VP +owned VBN I-VP +by IN B-PP +a DT B-NP +collective NN I-NP +, , O +'' '' O +Sir NNP B-NP +John NNP I-NP +said VBD B-VP +. . O + +`` `` O +It PRP B-NP +has VBZ B-VP +never RB I-VP +been VBN I-VP +done VBN I-VP +before RB B-ADVP +, , O +but CC O +there EX B-NP +'s VBZ B-VP +always RB B-ADVP +a DT B-NP +first JJ I-NP +. . O + +Although IN B-SBAR +two CD B-NP +Baby NNP I-NP +Bells NNPS I-NP +showed VBD B-VP +strong JJ B-NP +growth NN I-NP +in IN B-PP +access NN B-NP +lines NNS I-NP +, , O +usage NN B-NP +and CC O +unregulated JJ B-NP +business NN I-NP +revenue NN I-NP +, , O +one CD B-NP +reported VBD B-VP +a DT B-NP +modest JJ I-NP +gain NN I-NP +in IN B-PP +third-quarter JJ B-NP +net NN I-NP +while IN B-SBAR +the DT B-NP +other NN I-NP +posted VBD B-VP +a DT B-NP +small JJ I-NP +drop NN I-NP +. . O + +Ameritech NNP B-NP +Corp. NNP I-NP +'s POS B-NP +earnings NNS I-NP +increased VBN B-VP +2.8 CD B-NP +% NN I-NP +, , O +after IN B-SBAR +strong JJ B-NP +revenue NN I-NP +gains NNS I-NP +were VBD B-VP +offset VBN I-VP +somewhat RB B-ADVP +by IN B-PP +refunds NNS B-NP +and CC O +rate NN B-NP +reductions NNS I-NP +imposed VBN B-VP +by IN B-PP +regulators NNS B-NP +in IN B-PP +its PRP$ B-NP +Midwest NNP I-NP +territory NN I-NP +. . O + +BellSouth NNP B-NP +Corp. NNP I-NP +'s POS B-NP +third-quarter JJ I-NP +earnings NNS I-NP +dropped VBD B-VP +3.8 CD B-NP +% NN I-NP +as IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +debt NN B-NP +refinancing NN I-NP +, , O +the DT B-NP +recent JJ I-NP +acquisition NN I-NP +of IN B-PP +a DT B-NP +cellular JJ I-NP +and CC I-NP +paging NN I-NP +property NN I-NP +and CC O +rate NN B-NP +reductions NNS I-NP +in IN B-PP +its PRP$ B-NP +Southeast NNP I-NP +territory NN I-NP +. . O + +BellSouth NNP B-NP + +At IN B-PP +BellSouth NNP B-NP +, , O +based VBN B-VP +in IN B-PP +Atlanta NNP B-NP +, , O +customer NN B-NP +access NN I-NP +lines NNS I-NP +grew VBN B-VP +by IN B-PP +162,000 CD B-NP +, , O +or CC O +3.5 CD B-NP +% NN I-NP +, , O +during IN B-PP +the DT B-NP +12-month JJ I-NP +period NN I-NP +ended VBN B-VP +Sept NNP B-NP +. . O + +For IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +, , O +total JJ B-NP +operating NN I-NP +revenue NN I-NP +grew VBD B-VP +2.6 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +3.55 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +3.46 CD I-NP +billion CD I-NP +. . O + +Total JJ B-NP +operating NN I-NP +expenses NNS I-NP +increased VBN B-VP +3.5 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +2.78 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +2.69 CD I-NP +billion CD I-NP +. . O + +Overall JJ B-NP +access NN I-NP +minutes NNS I-NP +of IN B-PP +use NN B-NP +increased VBN B-VP +10.3 CD B-NP +% NN I-NP +and CC O +toll NN B-NP +messages NNS I-NP +jumped VBD B-VP +5.2 CD B-NP +% NN I-NP +. . O + +BellSouth NNP B-NP +Chairman NNP I-NP +and CC I-NP +Chief NNP I-NP +Executive NNP I-NP +Officer NNP I-NP +John NNP I-NP +L. NNP I-NP +Clendenin NNP I-NP +said VBD B-VP +three CD B-NP +factors NNS I-NP +accounted VBD B-VP +for IN B-PP +the DT B-NP +drop NN I-NP +in IN B-PP +third-quarter JJ B-NP +earnings NNS I-NP +. . O + +The DT B-NP +refinancing NN I-NP +of IN B-PP +$ $ B-NP +481 CD I-NP +million CD I-NP +in IN B-PP +long-term JJ B-NP +debt NN I-NP +reduced VBD B-VP +net JJ B-NP +income NN I-NP +by IN B-PP +$ $ B-NP +22 CD I-NP +million CD I-NP +, , O +or CC O +five CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +but CC O +in IN B-PP +the DT B-NP +long JJ I-NP +run NN I-NP +will MD B-VP +save VB B-VP +more JJR B-NP +than IN I-NP +$ $ I-NP +250 CD I-NP +million CD I-NP +in IN B-PP +interest NN B-NP +costs NNS I-NP +. . O + +The DT B-NP +company NN I-NP +previously RB B-ADVP +said VBD B-VP +that IN B-SBAR +the DT B-NP +recent JJ I-NP +acquisition NN I-NP +of IN B-PP +Mobile NNP B-NP +Communications NNP I-NP +Corp. NNP I-NP +of IN B-PP +America NNP B-NP +would MD B-VP +dilute VB I-VP +1989 CD B-NP +earnings NNS I-NP +by IN B-PP +about IN B-NP +3 CD I-NP +% NN I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +earnings NNS B-NP +were VBD B-VP +reduced VBN I-VP +by IN B-PP +rate NN B-NP +reductions NNS I-NP +in IN B-PP +Florida NNP B-NP +, , I-NP +Kentucky NNP I-NP +, , I-NP +Alabama NNP I-NP +, , I-NP +Tennessee NNP I-NP +and CC I-NP +Louisiana NNP I-NP +. . O + +Ameritech NNP B-NP + +At IN B-PP +Ameritech NNP B-NP +, , O +based VBN B-VP +in IN B-PP +Chicago NNP B-NP +, , O +customer NN B-NP +access NN I-NP +lines NNS I-NP +increased VBN B-VP +by IN B-PP +402,000 CD B-NP +, , O +or CC O +2.6 CD B-NP +% NN I-NP +, , O +and CC O +cellular JJ B-NP +mobile JJ I-NP +lines NNS I-NP +increased VBN B-VP +by IN B-PP +80,000 CD B-NP +, , O +or CC O +62.3 CD B-NP +% NN I-NP +, , O +for IN B-PP +the DT B-NP +12-month JJ I-NP +period NN I-NP +ended VBN B-VP +Sept. NNP B-NP +30 CD I-NP +. . O + +For IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +, , O +revenue NN B-NP +increased VBN B-VP +1.9 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +2.55 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +2.51 CD I-NP +billion CD I-NP +. . O + +Operating NN B-NP +expenses NNS I-NP +increased VBN B-VP +2.6 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +2.04 CD I-NP +billion CD I-NP +, , O +including VBG B-PP +one-time JJ B-NP +pretax JJ I-NP +charges NNS I-NP +of IN B-PP +$ $ B-NP +40 CD I-NP +million CD I-NP +for IN B-PP +labor NN B-NP +contract NN I-NP +signing VBG I-NP +bonuses NNS I-NP +. . O + +Local JJ B-NP +service NN I-NP +revenue NN I-NP +increased VBN B-VP +3.5 CD B-NP +% NN I-NP +and CC O +directory NN B-NP +and CC I-NP +unregulated JJ I-NP +business NN I-NP +revenue NN I-NP +jumped VBD B-VP +9.5 CD B-NP +% NN I-NP +. . O + +But CC O +network NN B-NP +access NN I-NP +revenue NN I-NP +dropped VBD B-VP +4 CD B-NP +% NN I-NP +and CC O +toll NN B-NP +revenue NN I-NP +dropped VBD B-VP +1.4 CD B-NP +% NN I-NP +. . O + +a DT B-NP +- : O +reflects VBZ B-VP +2-for-1 JJ B-NP +stock NN I-NP +split NN I-NP +effective JJ B-ADJP +Dec. NNP B-NP +30 CD I-NP +, , I-NP +1988 CD I-NP +. . O + +b NN B-NP +- : O +reflects VBZ B-VP +extraordinary JJ B-NP +loss NN I-NP +of IN B-PP +five CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +for IN B-PP +early JJ B-NP +debt NN I-NP +retirement NN I-NP +. . O + +c NN B-NP +- : O +reflects VBZ B-VP +extraordinary JJ B-NP +loss NN I-NP +of IN B-PP +five CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +and CC O +extraordinary JJ B-NP +gain NN I-NP +of IN B-PP +14 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +from IN B-PP +cumulative JJ B-NP +effect NN I-NP +of IN B-PP +accounting NN B-NP +change NN I-NP +. . O + +The DT O +Wall NNP O +Street NNP O +Journal NNP O +`` `` O +American JJ O +Way NN O +of IN B-PP +Buying VBG B-NP +'' '' B-NP +Survey NNP I-NP +consists VBZ B-VP +of IN B-PP +two CD B-NP +separate JJ I-NP +, , I-NP +door-to-door JJ I-NP +nationwide JJ I-NP +polls NNS I-NP +conducted VBN B-VP +for IN B-PP +the DT B-NP +Journal NNP I-NP +by IN B-PP +Peter NNP B-NP +D. NNP I-NP +Hart NNP I-NP +Research NNP I-NP +Associates NNPS I-NP +and CC O +the DT B-NP +Roper NNP I-NP +Organization NNP I-NP +. . O + +The DT B-NP +two CD I-NP +surveys NNS I-NP +, , O +which WDT B-NP +asked VBD B-VP +different JJ B-NP +questions NNS I-NP +, , O +were VBD B-VP +conducted VBN I-VP +using VBG B-VP +national JJ B-NP +random JJ I-NP +probability NN I-NP +samples NNS I-NP +. . O + +The DT B-NP +poll NN I-NP +conducted VBN B-VP +by IN B-PP +Peter NNP B-NP +D. NNP I-NP +Hart NNP I-NP +Research NNP I-NP +Associates NNPS I-NP +interviewed VBN B-VP +2,064 CD B-NP +adults NNS I-NP +age VBP B-NP +18 CD I-NP +and CC O +older JJR B-ADJP +from IN B-PP +June NNP B-NP +15 CD I-NP +to TO B-PP +June NNP B-NP +30 CD I-NP +, , I-NP +1989 CD I-NP +. . O + +The DT B-NP +poll NN I-NP +conducted VBN B-VP +by IN B-PP +the DT B-NP +Roper NNP I-NP +Organization NNP I-NP +interviewed VBD B-VP +2,002 CD B-NP +adults NNS I-NP +age VBP B-NP +18 CD I-NP +and CC O +older JJR B-ADJP +from IN B-PP +July NNP B-NP +7 CD I-NP +to TO B-PP +July NNP B-NP +15 CD I-NP +, , I-NP +1989 CD I-NP +. . O + +Responses NNS B-NP +were VBD B-VP +weighted JJ I-VP +on IN B-PP +the DT B-NP +basis NN I-NP +of IN B-PP +age NN B-NP +and CC I-NP +gender NN I-NP +to TO B-VP +conform VB I-VP +with IN B-PP +U.S. NNP B-NP +Census NNP I-NP +data NNS I-NP +. . O + +For IN B-PP +each DT B-NP +poll NN I-NP +, , O +the DT B-NP +odds NNS I-NP +are VBP B-VP +19 CD B-NP +out IN B-PP +of IN B-PP +20 CD B-NP +that IN O +if IN B-SBAR +pollsters NNS B-NP +had VBD B-VP +sought VBN I-VP +to TO I-VP +survey VB I-VP +every DT B-NP +household NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +using VBG B-VP +the DT B-NP +same JJ I-NP +questionnaire NN I-NP +, , O +the DT B-NP +findings NNS I-NP +would MD B-VP +differ VB I-VP +from IN B-PP +these DT B-NP +poll NN I-NP +results NNS I-NP +by IN B-PP +no DT B-NP +more JJR I-NP +than IN I-NP +2 CD I-NP +1\/2 CD I-NP +percentage NN I-NP +points NNS I-NP +in IN B-PP +either DT B-NP +direction NN I-NP +. . O + +The DT B-NP +margin NN I-NP +of IN B-PP +error NN B-NP +for IN B-PP +subgroups NNS B-NP +-- : O +for IN B-PP +example NN B-NP +, , O +married VBN B-NP +women NNS I-NP +with IN B-PP +children NNS B-NP +at IN B-PP +home NN B-NP +-- : O +would MD B-VP +be VB I-VP +larger JJR B-ADJP +. . O + +In IN B-PP +addition NN B-NP +, , O +in IN B-PP +any DT B-NP +survey NN I-NP +, , O +there EX B-NP +is VBZ B-VP +always RB B-ADVP +the DT B-NP +chance NN I-NP +that IN B-SBAR +other JJ B-NP +factors NNS I-NP +such JJ B-PP +as IN I-PP +question NN B-NP +wording NN I-NP +could MD B-VP +introduce VB I-VP +errors NNS B-NP +into IN B-PP +the DT B-NP +findings NNS I-NP +. . O + +Program NN B-NP +traders NNS I-NP +were VBD B-VP +buying VBG I-VP +and CC I-VP +selling VBG I-VP +at IN B-PP +full JJ B-NP +steam NN I-NP +Monday NNP B-NP +, , O +the DT B-NP +first JJ I-NP +trading NN I-NP +session NN I-NP +after IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +'s POS B-NP +190.58-point JJ I-NP +plunge NN I-NP +Friday NNP B-NP +. . O + +They PRP B-NP +accounted VBD B-VP +for IN B-PP +a DT B-NP +hefty JJ I-NP +16 CD I-NP +% NN I-NP +of IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +volume NN I-NP +Monday NNP B-NP +, , O +the DT B-NP +fourth JJ I-NP +busiest JJS I-NP +session NN I-NP +ever RB B-ADVP +. . O + +On IN B-PP +Friday NNP B-NP +, , O +13 CD B-NP +% NN I-NP +of IN B-PP +volume NN B-NP +was VBD B-VP +in IN B-PP +computer-guided JJ B-NP +program NN I-NP +trades NNS I-NP +. . O + +In IN B-PP +August NNP B-NP +, , O +by IN B-PP +contrast NN B-NP +, , O +program NN B-NP +trading NN I-NP +averaged VBD B-VP +10.3 CD B-NP +% NN I-NP +of IN B-PP +daily JJ B-NP +Big NNP I-NP +Board NNP I-NP +turnover NN I-NP +. . O + +Program NN B-NP +traders NNS I-NP +were VBD B-VP +publicly RB I-VP +castigated VBN I-VP +following VBG B-PP +the DT B-NP +508-point JJ I-NP +crash NN I-NP +Oct. NNP B-NP +19 CD I-NP +, , I-NP +1987 CD I-NP +, , O +and CC O +a DT B-NP +number NN I-NP +of IN B-PP +brokerage NN B-NP +firms NNS I-NP +pulled VBD B-VP +back RB B-ADVP +from IN B-PP +using VBG B-VP +this DT B-NP +strategy NN I-NP +for IN B-PP +a DT B-NP +while NN I-NP +. . O + +But CC O +as IN B-SBAR +the DT B-NP +outcry NN I-NP +faded VBN B-VP +by IN B-PP +the DT B-NP +spring NN I-NP +of IN B-PP +1988 CD B-NP +, , O +they PRP B-NP +resumed VBD B-VP +. . O + +Some DT B-NP +observers NNS I-NP +thought VBD B-VP +that IN B-SBAR +after IN B-PP +Friday NNP B-NP +'s POS B-NP +sharp JJ I-NP +drop NN I-NP +, , O +the DT B-NP +firms NNS I-NP +would MD B-VP +rein VB I-VP +in IN B-PRT +their PRP$ B-NP +program NN I-NP +traders NNS I-NP +to TO B-VP +avoid VB I-VP +stoking VBG I-VP +more JJR B-NP +controversy NN I-NP +. . O + +But CC O +the DT B-NP +statistics NNS I-NP +released VBD B-VP +yesterday NN B-NP +show NN B-VP +the DT B-NP +firms NNS I-NP +did VBD B-VP +nothing NN B-NP +of IN B-PP +the DT B-NP +sort NN I-NP +. . O + +One CD B-NP +reason NN I-NP +, , O +they PRP B-NP +said VBD B-VP +, , O +was VBD B-VP +that IN B-SBAR +the DT B-NP +official JJ I-NP +reports NNS I-NP +on IN B-PP +the DT B-NP +1987 CD I-NP +crash NN I-NP +exonerated VBD B-VP +program NN B-NP +trading NN I-NP +as IN B-PP +a DT B-NP +cause NN I-NP +. . O + +Stock-index NN B-NP +arbitrage NN I-NP +is VBZ B-VP +the DT B-NP +most RBS I-NP +controversial JJ I-NP +form NN I-NP +of IN B-PP +program NN B-NP +trading NN I-NP +because IN B-SBAR +it PRP B-NP +accelerates VBZ B-VP +market NN B-NP +moves NNS I-NP +, , O +if IN B-SBAR +not RB O +actually RB B-ADVP +causing VBG B-VP +them PRP B-NP +. . O + +In IN B-PP +it PRP B-NP +, , O +traders NNS B-NP +buy VBP B-VP +or CC I-VP +sell VB I-VP +stocks NNS B-NP +and CC O +offset VB B-VP +those DT B-NP +positions NNS I-NP +in IN B-PP +stock-index NN B-NP +futures NNS I-NP +contracts NNS I-NP +to TO B-VP +profit VB I-VP +from IN B-PP +fleeting JJ B-NP +price NN I-NP +discrepancies NNS I-NP +. . O + +Under IN B-PP +the DT B-NP +exchange NN I-NP +'s POS B-NP +definitions NNS I-NP +, , O +program NN B-NP +trading NN I-NP +also RB B-ADVP +describes VBZ B-VP +a DT B-NP +number NN I-NP +of IN B-PP +other JJ B-NP +strategies NNS I-NP +that IN B-NP +, , O +in IN B-PP +the DT B-NP +opinion NN I-NP +of IN B-PP +some DT B-NP +traders NNS I-NP +, , O +do VBP B-VP +n't RB I-VP +cause VB I-VP +big JJ B-NP +swings NNS I-NP +in IN B-PP +the DT B-NP +market NN I-NP +. . O + +The DT B-NP +Big NNP I-NP +Board NNP I-NP +'s POS B-NP +disclosure NN I-NP +of IN B-PP +program NN B-NP +trading NN I-NP +activity NN I-NP +on IN B-PP +these DT B-NP +two CD I-NP +days NNS I-NP +was VBD B-VP +unusual JJ B-ADJP +. . O + +Though IN B-SBAR +it PRP B-NP +collects VBZ B-VP +such JJ B-NP +data NNS I-NP +daily JJ B-ADVP +, , O +its PRP$ B-NP +monthly JJ I-NP +reports NNS I-NP +on IN B-PP +program NN B-NP +trading NN I-NP +usually RB B-ADVP +come VB B-VP +out IN B-ADVP +about IN B-NP +three CD I-NP +weeks NNS I-NP +after IN B-SBAR +each DT B-NP +month NN I-NP +ends NNS B-VP +. . O + +The DT B-NP +September NNP I-NP +figures NNS I-NP +are VBP B-VP +due JJ B-ADJP +to TO B-VP +be VB I-VP +released VBN I-VP +this DT B-NP +week NN I-NP +. . O + +The DT B-NP +Big NNP I-NP +Board NNP I-NP +declined VBD B-VP +to TO I-VP +name VB I-VP +the DT B-NP +Wall NNP I-NP +Street NNP I-NP +firms NNS I-NP +involved VBN B-VP +in IN B-PP +the DT B-NP +activity NN I-NP +Friday NNP B-NP +and CC I-NP +Monday NNP I-NP +, , O +or CC O +the DT B-NP +type NN I-NP +of IN B-PP +strategies NNS B-NP +used VBN B-VP +. . O + +But CC O +traders NNS B-NP +on IN B-PP +the DT B-NP +exchange NN I-NP +floor NN I-NP +, , O +who WP B-NP +can MD B-VP +observe VB I-VP +the DT B-NP +computer-guided JJ I-NP +trading NN I-NP +activity NN I-NP +on IN B-PP +monitor NN B-NP +screens NNS I-NP +, , O +said VBD B-VP +most RBS B-NP +of IN B-PP +the DT B-NP +top JJ I-NP +program-trading JJ I-NP +firms NNS I-NP +were VBD B-VP +active JJ B-ADJP +both DT B-NP +days NNS I-NP +. . O + +Through IN B-PP +August NNP B-NP +, , O +the DT B-NP +top JJ I-NP +five CD I-NP +program NN I-NP +trading NN I-NP +firms NNS I-NP +in IN B-PP +volume NN B-NP +were VBD B-VP +Morgan NNP B-NP +Stanley NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +Kidder NNP B-NP +, , I-NP +Peabody NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +Merrill NNP B-NP +Lynch NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +PaineWebber NNP B-NP +Group NNP I-NP +Inc. NNP I-NP +and CC O +Salomon NNP B-NP +Brothers NNP I-NP +Inc NNP I-NP +. . O + +Though IN B-SBAR +brokerage NN B-NP +officials NNS I-NP +defended VBD B-VP +their PRP$ B-NP +use NN I-NP +of IN B-PP +program NN B-NP +trading NN I-NP +, , O +one CD B-NP +sign NN I-NP +of IN B-PP +what WP B-NP +an DT I-NP +issue NN I-NP +it PRP B-NP +remains VBZ B-VP +was VBD B-VP +that IN B-SBAR +few JJ B-NP +executives NNS I-NP +would MD B-VP +comment VB I-VP +on IN B-PP +the DT B-NP +record NN I-NP +. . O + +Besides IN B-PP +reciting VBG B-VP +the DT B-NP +pardon NN I-NP +for IN B-PP +program NN B-NP +trading NN I-NP +contained VBD B-VP +in IN B-PP +the DT B-NP +Brady NNP I-NP +Commission NNP I-NP +report NN I-NP +, , O +they PRP B-NP +said VBD B-VP +stock-index NN B-NP +arbitrage NN I-NP +was VBD B-VP +actually RB I-VP +needed VBN I-VP +Monday NNP B-NP +to TO B-VP +restore VB I-VP +the DT B-NP +markets NNS I-NP +' POS B-NP +equilibrium NN I-NP +. . O + +On IN B-PP +Friday NNP B-NP +, , O +the DT B-NP +stock-index NN I-NP +futures NNS I-NP +market NN I-NP +was VBD B-VP +unhinged VBN I-VP +from IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +when WRB B-ADVP +the DT B-NP +Chicago NNP I-NP +Mercantile NNP I-NP +Exchange NNP I-NP +halted VBD B-VP +trading NN B-NP +in IN B-PP +Standard NNP B-NP +& CC I-NP +Poor NNP I-NP +'s POS B-NP +500 CD I-NP +futures NNS I-NP +contract VBP I-NP +-- : O +a DT B-NP +`` `` I-NP +circuit NN I-NP +breaker NN I-NP +'' '' I-NP +procedure NN I-NP +instituted VBN B-VP +after IN B-PP +the DT B-NP +1987 CD I-NP +crash NN I-NP +and CC O +implemented VBN B-VP +for IN B-PP +the DT B-NP +first JJ I-NP +time NN I-NP +. . O + +Futures NNS B-NP +trading NN I-NP +resumed VBD B-VP +a DT B-NP +half-hour NN I-NP +later RB B-ADVP +, , O +but CC O +the DT B-NP +session NN I-NP +ended VBD B-VP +shortly RB B-ADVP +thereafter RB I-ADVP +, , O +leaving VBG B-VP +the DT B-NP +stock NN I-NP +market NN I-NP +set VBN B-VP +up IN B-PRT +for IN B-PP +more JJR B-NP +sell NN I-NP +programs NNS I-NP +, , O +traders NNS B-NP +said VBD B-VP +. . O + +By IN B-PP +Monday NNP B-NP +morning NN I-NP +, , O +they PRP B-NP +said VBD B-VP +, , O +stock-index NN B-NP +arbitrage NN I-NP +sell NN I-NP +programs NNS I-NP +helped VBD B-VP +re-establish VB I-VP +the DT B-NP +link NN I-NP +between IN B-PP +stocks NNS B-NP +and CC I-NP +futures NNS I-NP +. . O + +But CC O +stunning JJ B-NP +volatility NN I-NP +was VBD B-VP +produced VBN I-VP +in IN B-PP +the DT B-NP +process NN I-NP +. . O + +The DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +plunged VBD B-VP +a DT B-NP +breathtaking JJ I-NP +63.52 CD I-NP +points NNS I-NP +in IN B-PP +the DT B-NP +first JJ I-NP +40 CD I-NP +minutes NNS I-NP +of IN B-PP +trading NN B-NP +Monday NNP B-NP +as IN B-SBAR +stock-index NN B-NP +arbitrage NN I-NP +sell NN I-NP +programs NNS I-NP +kicked VBD B-VP +in RB B-PRT +. . O + +At IN B-PP +about IN B-NP +10:10 CD I-NP +a.m. NN I-NP +EDT NNP I-NP +, , O +the DT B-NP +market NN I-NP +abruptly RB B-VP +turned VBD I-VP +upward RB B-ADVP +on IN B-PP +stock-index NN B-NP +arbitrage NN I-NP +buy NN I-NP +programs NNS I-NP +. . O + +By IN B-PP +day NN B-NP +'s POS B-NP +end NN I-NP +, , O +the DT B-NP +Dow NNP I-NP +industrials NNS I-NP +had VBD B-VP +rebounded VBN I-VP +88.12 CD B-NP +points NNS I-NP +, , O +or CC O +nearly RB B-NP +half NN I-NP +of IN B-PP +Friday NNP B-NP +'s POS B-NP +drop NN I-NP +. . O + +FREDERICK NNP B-NP +'S VBZ B-NP +OF IN B-PP +HOLLYWOOD NNP B-NP +Inc. NNP I-NP +, , O +Los NNP B-NP +Angeles NNP I-NP +, , O +said VBD B-VP +its PRP$ B-NP +board NN I-NP +voted VBD B-VP +a DT B-NP +50 CD I-NP +% NN I-NP +increase NN I-NP +in IN B-PP +the DT B-NP +specialty NN I-NP +boutique-store NN I-NP +operator NN I-NP +'s POS B-NP +semiannual JJ I-NP +dividend NN I-NP +, , O +to TO B-PP +five CD B-NP +cents NNS I-NP +a DT B-NP +common JJ I-NP +share NN I-NP +. . O + +The DT B-NP +dividend NN I-NP +is VBZ B-VP +payable JJ B-ADJP +Dec. NNP B-NP +15 CD I-NP +to TO B-PP +stock VB B-NP +of IN B-PP +record NN B-NP +Nov. NNP B-NP +15 CD I-NP +. . O + +Valley NNP B-NP +National NNP I-NP +Corp. NNP I-NP +reported VBD B-VP +a DT B-NP +third-quarter JJ I-NP +net JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +72.2 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +3.65 CD I-NP +a DT B-NP +share NN I-NP +, , O +and CC O +suspended VBD B-VP +its PRP$ B-NP +quarterly JJ I-NP +dividend NN I-NP +because IN B-PP +of IN I-PP +potential JJ B-NP +losses NNS I-NP +on IN B-PP +its PRP$ B-NP +Arizona NNP I-NP +real JJ I-NP +estate NN I-NP +holdings NNS I-NP +. . O + +The DT B-NP +Phoenix-based JJ I-NP +holding NN I-NP +company NN I-NP +for IN B-PP +Arizona NNP B-NP +'s POS B-NP +largest JJS I-NP +bank NN I-NP +said VBD B-VP +it PRP B-NP +added VBD B-VP +$ $ B-NP +121 CD I-NP +million CD I-NP +to TO B-PP +its PRP$ B-NP +allowance NN I-NP +for IN B-PP +losses NNS B-NP +on IN B-PP +loans NNS B-NP +and CC B-PP +for IN B-PP +real JJ B-NP +estate NN I-NP +owned VBN B-VP +. . O + +The DT B-NP +company NN I-NP +earned VBD B-VP +$ $ B-NP +18.7 CD I-NP +million CD I-NP +, , O +or CC O +95 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +Valley NNP B-NP +National NNP I-NP +posted VBD B-VP +a DT B-NP +net JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +136.4 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +6.90 CD I-NP +a DT B-NP +share NN I-NP +. . O + +It PRP B-NP +had VBD B-VP +profit NN B-NP +of IN B-PP +$ $ B-NP +48.6 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +2.46 CD I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +the DT B-NP +1988 CD I-NP +period NN I-NP +. . O + +Valley NNP B-NP +National NNP I-NP +had VBD B-VP +been VBN I-VP +paying VBG I-VP +a DT B-NP +quarterly JJ I-NP +dividend NN I-NP +of IN B-PP +36 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +`` `` O +The DT B-NP +Arizona NNP I-NP +real JJ I-NP +estate NN I-NP +market NN I-NP +continues VBZ B-VP +to TO I-VP +be VB I-VP +depressed JJ I-VP +, , O +and CC O +there EX B-NP +is VBZ B-VP +still JJ B-ADVP +uncertainty NN B-NP +as IN B-PP +to TO B-PP +when WRB B-ADVP +values NNS B-NP +will MD B-VP +recover VB I-VP +, , O +'' '' O +James NNP B-NP +P. NNP I-NP +Simmons NNP I-NP +, , O +chairman NN B-NP +, , O +said VBD B-VP +. . O + +The DT B-NP +decision NN I-NP +to TO B-VP +increase VB I-VP +the DT B-NP +loan-loss NN I-NP +reserve NN I-NP +and CC O +suspend VB B-VP +the DT B-NP +dividend NN I-NP +is VBZ B-VP +`` `` O +both DT O +prudent JJ B-ADJP +and CC O +in IN B-PP +the DT B-NP +best JJS I-NP +long-term JJ I-NP +interest NN I-NP +of IN B-PP +the DT B-NP +shareholders NNS I-NP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +Valley NNP B-NP +National NNP I-NP +said VBD B-VP +it PRP B-NP +made VBD B-VP +the DT B-NP +decision NN I-NP +on IN B-PP +the DT B-NP +basis NN I-NP +of IN B-PP +an DT B-NP +`` `` I-NP +overall JJ I-NP +assessment NN I-NP +of IN B-PP +the DT B-NP +marketplace NN I-NP +'' '' O +and CC O +the DT B-NP +condition NN I-NP +of IN B-PP +its PRP$ B-NP +loan NN I-NP +portfolio NN I-NP +and CC B-PP +after IN B-PP +reviewing VBG B-VP +it PRP B-NP +with IN B-PP +federal JJ B-NP +regulators NNS I-NP +. . O + +The DT B-NP +addition NN I-NP +to TO B-PP +reserves NNS B-NP +comes VBZ B-VP +on IN B-PP +top NN B-NP +of IN B-PP +a DT B-NP +provision NN I-NP +of IN B-PP +$ $ B-NP +199.7 CD I-NP +million CD I-NP +that WDT B-NP +was VBD B-VP +announced VBN I-VP +in IN B-PP +June NNP B-NP +. . O + +In IN B-PP +July NNP B-NP +, , O +Moody NNP B-NP +'s POS B-NP +downgraded VBD B-VP +$ $ B-NP +400 CD I-NP +million CD I-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +debt NN I-NP +, , O +saying VBG B-VP +the DT B-NP +bank NN I-NP +holding VBG I-NP +company NN I-NP +had VBD B-VP +n't RB I-VP +taken VBN I-VP +adequate JJ B-NP +write-offs NNS I-NP +against IN B-PP +potential JJ B-NP +losses NNS I-NP +on IN B-PP +real JJ B-NP +estate NN I-NP +loans NNS I-NP +despite IN B-PP +its PRP$ B-NP +second-quarter JJ I-NP +write-down NN I-NP +. . O + +Richard NNP B-NP +M. NNP I-NP +Greenwood NNP I-NP +, , O +Valley NNP B-NP +National NNP I-NP +'s POS B-NP +executive JJ I-NP +vice NN I-NP +president NN I-NP +, , O +said VBD B-VP +then RB B-ADVP +that IN B-SBAR +the DT B-NP +company NN I-NP +believed VBD B-VP +the DT B-NP +write-downs NNS I-NP +were VBD B-VP +`` `` O +adequate JJ B-ADJP +'' '' O +and CC O +did VBD B-VP +n't RB I-VP +plan VB I-VP +to TO I-VP +increase VB I-VP +its PRP$ B-NP +reserves NNS I-NP +again RB B-ADVP +. . O + +Bruce NNP B-NP +Hoyt NNP I-NP +, , O +a DT B-NP +banking NN I-NP +analyst NN I-NP +with IN B-PP +Boettcher NNP B-NP +& CC I-NP +Co. NNP I-NP +, , O +a DT B-NP +Denver NNP I-NP +brokerage NN I-NP +firm NN I-NP +, , O +said VBD B-VP +Valley NNP B-NP +National NNP I-NP +`` `` O +is VBZ B-VP +n't RB O +out IN B-PP +of IN B-PP +the DT B-NP +woods NNS I-NP +yet RB B-ADVP +. . O +'' '' O + +The DT B-NP +key NN I-NP +will MD B-VP +be VB I-VP +whether IN B-SBAR +Arizona NNP B-NP +real JJ I-NP +estate NN I-NP +turns VBZ B-VP +around IN B-ADVP +or CC O +at IN B-VP +least JJS I-VP +stabilizes VBZ I-VP +, , O +he PRP B-NP +said VBD B-VP +. . O + +`` `` O +They PRP B-NP +'ve VBP B-VP +stepped VBD I-VP +up IN B-ADVP +to TO B-PP +the DT B-NP +plate NN I-NP +to TO B-VP +take VB I-VP +the DT B-NP +write-downs NNS I-NP +, , O +but CC O +when WRB B-ADVP +markets NNS B-NP +head VBP B-VP +down RB B-ADVP +, , O +a DT B-NP +company NN I-NP +is VBZ B-VP +always RB I-VP +exposed VBN I-VP +to TO B-PP +further VB B-NP +negative JJ I-NP +surprises NNS I-NP +, , O +'' '' O +Mr. NNP B-NP +Hoyt NNP I-NP +said VBD B-VP +. . O + +Valley NNP B-NP +National NNP I-NP +closed VBD B-VP +yesterday NN B-NP +at IN B-PP +$ $ B-NP +24.25 CD I-NP +a DT B-NP +share NN I-NP +, , O +down RB B-ADVP +$ $ B-NP +1 CD I-NP +, , O +in IN B-PP +national JJ B-NP +over-the-counter JJ I-NP +trading NN I-NP +. . O + +Two CD B-NP +years NNS I-NP +of IN B-PP +coddling NN B-NP +, , O +down RP B-PP +the DT B-NP +drain NN I-NP +. . O + +That DT B-NP +'s VBZ B-VP +the DT B-NP +way NN I-NP +a DT B-NP +lot NN I-NP +of IN B-PP +brokers NNS B-NP +feel VBP B-VP +today NN B-NP +on IN B-PP +the DT B-NP +second JJ I-NP +anniversary NN I-NP +of IN B-PP +the DT B-NP +1987 CD I-NP +stock-market NN I-NP +crash NN I-NP +. . O + +Ever RB B-ADVP +since IN B-PP +that DT B-NP +fearful JJ I-NP +Black NNP I-NP +Monday NNP I-NP +, , O +they PRP B-NP +'ve VBP B-VP +been VBN I-VP +tirelessly RB I-VP +wooing VBG I-VP +wary JJ B-NP +individual JJ I-NP +investors NNS I-NP +-- : O +trying VBG B-VP +to TO I-VP +convince VB I-VP +them PRP B-NP +that IN B-SBAR +Oct. NNP B-NP +19 CD I-NP +, , I-NP +1987 CD I-NP +, , O +was VBD B-VP +a DT B-NP +fluke NN I-NP +and CC O +that IN B-SBAR +the DT B-NP +stock NN I-NP +market NN I-NP +really RB B-ADVP +is VBZ B-VP +a DT B-NP +safe JJ I-NP +place NN I-NP +for IN B-SBAR +average JJ B-NP +Americans NNPS I-NP +to TO B-VP +put VB I-VP +their PRP$ B-NP +hard-earned JJ I-NP +dollars NNS I-NP +. . O + +And CC O +until IN B-PP +last JJ B-NP +Friday NNP I-NP +, , O +it PRP B-NP +seemed VBD B-VP +those DT B-NP +efforts NNS I-NP +were VBD B-VP +starting VBG I-VP +to TO I-VP +pay VB I-VP +off RB B-PRT +. . O + +`` `` O +Some DT B-NP +of IN B-PP +those DT B-NP +folks NNS I-NP +were VBD B-VP +coming VBG I-VP +back RB B-ADVP +, , O +'' '' O +says VBZ B-VP +Leslie NNP B-NP +Quick NNP I-NP +Jr. NNP I-NP +, , O +chairman NN B-NP +, , O +of IN B-PP +discount NN B-NP +brokers NNS I-NP +Quick NNP I-NP +& CC I-NP +Reilly NNP I-NP +Group NNP I-NP +Inc NNP I-NP +. . O + +`` `` O +We PRP B-NP +had VBD B-VP +heard VBN I-VP +from IN B-PP +people NNS B-NP +who WP B-NP +had VBD B-VP +n't RB I-VP +been VBN I-VP +active JJ B-ADJP +'' '' O +for IN B-PP +a DT B-NP +long JJ I-NP +time NN I-NP +. . O + +Then RB O +came VBD B-VP +the DT B-NP +frightening JJ I-NP +190-point JJ I-NP +plunge NN I-NP +in IN B-PP +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +and CC O +a DT B-NP +new JJ I-NP +wave NN I-NP +of IN B-PP +stock-market NN B-NP +volatility NN I-NP +. . O + +All DT B-ADVP +of IN B-PP +a DT B-NP +sudden JJ I-NP +, , O +it PRP B-NP +was VBD B-VP +back RB B-ADVP +to TO B-PP +square VB B-NP +one CD I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +going VBG I-VP +to TO I-VP +set VB I-VP +things NNS B-NP +back RB B-ADVP +for IN B-PP +a DT B-NP +period NN I-NP +, , O +because IN B-SBAR +it PRP B-NP +reinforces VBZ B-VP +the DT B-NP +concern NN I-NP +of IN B-PP +volatility NN B-NP +, , O +'' '' O +says VBZ B-VP +Jeffrey NNP B-NP +B. NNP I-NP +Lane NNP I-NP +, , O +president NN B-NP +of IN B-PP +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +Inc NNP I-NP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +it PRP B-NP +will MD B-VP +shake VB I-VP +confidence NN B-NP +one CD B-NP +more JJR I-NP +time NN I-NP +, , O +and CC O +a DT B-NP +lot NN I-NP +of IN B-PP +this DT B-NP +business NN I-NP +is VBZ B-VP +based VBN I-VP +on IN B-PP +client NN B-NP +confidence NN I-NP +. . O +'' '' O + +Brokers NNS B-NP +around IN B-PP +the DT B-NP +country NN I-NP +say VBP B-VP +the DT B-NP +reaction NN I-NP +from IN B-PP +individual JJ B-NP +investors NNS I-NP +this DT B-NP +week NN I-NP +has VBZ B-VP +been VBN I-VP +almost RB B-ADJP +eerie JJ I-ADJP +. . O + +Customers NNS B-NP +and CC O +potential JJ B-NP +customers NNS I-NP +are VBP B-VP +suddenly RB I-VP +complaining VBG I-VP +about IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +in IN B-PP +the DT B-NP +exact JJ I-NP +way NN I-NP +they PRP B-NP +did VBD B-VP +in IN B-PP +post-crash JJ B-NP +1987 CD I-NP +. . O + +`` `` O +The DT B-NP +kinds NNS I-NP +of IN B-PP +questions NNS B-NP +you PRP B-NP +had VBD B-VP +before IN B-ADVP +have VBP B-VP +resurfaced VBN I-VP +, , O +'' '' O +says VBZ B-VP +Raymond NNP B-NP +A. NNP I-NP +`` `` I-NP +Chip NNP I-NP +'' '' I-NP +Mason NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +regional JJ B-NP +brokerage NN I-NP +firm NN I-NP +Legg NNP I-NP +Mason NNP I-NP +Inc. NNP I-NP +, , O +Baltimore NNP B-NP +. . O + +`` `` O +I PRP B-NP +can MD B-VP +just RB I-VP +tell VB I-VP +the DT B-NP +questions NNS I-NP +are VBP B-VP +right RB B-ADVP +back RB I-ADVP +where WRB B-ADVP +they PRP B-NP +were VBD B-VP +: : O +` `` O +What WP B-NP +'s VBZ B-VP +going VBG I-VP +on IN B-PRT +? . O +, , O +' '' O +` `` O +Ca MD O +n't RB O +anything NN B-NP +be VB B-VP +done VBN I-VP +about IN B-PP +program NN B-NP +trading NN I-NP +? . O +, , O +' '' O +` `` O +Does VBZ O +n't RB O +the DT B-NP +exchange NN I-NP +understand VB B-VP +? . O +, , O +' '' O +` `` O +Where WRB B-ADVP +is VBZ O +the DT B-NP +SEC NNP I-NP +on IN B-PP +this DT B-NP +? . O +' '' O +'' '' O + +Mr. NNP B-NP +Mason NNP I-NP +says VBZ B-VP +he PRP B-NP +'s VBZ B-VP +convinced VBN B-ADJP +the DT B-NP +public JJ I-NP +still RB B-ADVP +wants VBZ B-VP +to TO I-VP +invest VB I-VP +in IN B-PP +common JJ B-NP +stocks NNS I-NP +, , O +even RB B-SBAR +though IN I-SBAR +they PRP B-NP +believe VBP B-VP +the DT B-NP +deck NN I-NP +is VBZ B-VP +stacked VBN I-VP +against IN B-PP +them PRP B-NP +. . O + +But CC O +`` `` O +these DT B-NP +wide JJ I-NP +swings NNS I-NP +scare VBP B-VP +them PRP B-NP +to TO B-PP +death NN B-NP +. . O +'' '' O + +All DT B-NP +of IN B-PP +this DT B-NP +is VBZ B-VP +bad JJ B-NP +news NN I-NP +for IN B-PP +the DT B-NP +big JJ I-NP +brokerage NN I-NP +firms NNS I-NP +such JJ B-PP +as IN I-PP +Shearson NNP B-NP +and CC O +Merrill NNP B-NP +Lynch NNP I-NP +& CC I-NP +Co. NNP I-NP +that WDT B-NP +have VBP B-VP +big JJ B-NP +`` `` I-NP +retail JJ I-NP +, , I-NP +'' '' I-NP +or CC I-NP +individual-investor NN I-NP +, , I-NP +businesses NNS I-NP +. . O + +After IN B-PP +expanding VBG B-VP +rapidly RB B-ADVP +during IN B-PP +the DT B-NP +bull-market NN I-NP +years NNS I-NP +up IN B-PP +to TO B-PP +the DT B-NP +1987 CD I-NP +crash NN I-NP +, , O +retail JJ B-NP +brokerage NN I-NP +operations NNS I-NP +these DT B-NP +days NNS I-NP +are VBP B-VP +getting VBG I-VP +barely RB B-NP +enough JJ I-NP +business NN I-NP +to TO B-VP +pay VB I-VP +the DT B-NP +overhead NN I-NP +. . O + +True JJ B-ADJP +, , O +the DT B-NP +amount NN I-NP +of IN B-PP +money NN B-NP +investors NNS B-NP +are VBP B-VP +willing JJ B-ADJP +to TO B-VP +entrust VB I-VP +to TO B-PP +their PRP$ B-NP +brokers NNS I-NP +has VBZ B-VP +been VBN I-VP +growing VBG I-VP +lately RB B-ADVP +. . O + +But CC O +those DT B-NP +dollars NNS I-NP +have VBP B-VP +been VBN I-VP +going VBG I-VP +into IN B-PP +such JJ B-NP +`` `` I-NP +safe JJ I-NP +'' '' I-NP +products NNS I-NP +as IN B-PP +money NN B-NP +market NN I-NP +funds NNS I-NP +, , O +which WDT B-NP +do VBP B-VP +n't RB I-VP +generate VB I-VP +much JJ B-NP +in IN B-PP +the DT B-NP +way NN I-NP +of IN B-PP +commissions NNS B-NP +for IN B-PP +the DT B-NP +brokerage NN I-NP +firms NNS I-NP +. . O + +At IN B-PP +discount NN B-NP +brokerage NN I-NP +Charles NNP I-NP +Schwab NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +such JJ B-NP +`` `` I-NP +cash-equivalent JJ I-NP +'' '' I-NP +investments NNS I-NP +recently RB B-ADVP +accounted VBD B-VP +for IN B-PP +a DT B-NP +record NN I-NP +$ $ I-NP +8 CD I-NP +billion CD I-NP +of IN B-PP +the DT B-NP +firm NN I-NP +'s POS B-NP +$ $ I-NP +25 CD I-NP +billion CD I-NP +of IN B-PP +client NN B-NP +'s POS B-NP +assets NNS I-NP +. . O + +The DT B-NP +brokers NNS I-NP +' POS B-NP +hope NN I-NP +has VBZ B-VP +been VBN I-VP +that IN B-SBAR +they PRP B-NP +could MD B-VP +soon RB I-VP +coax VB I-VP +investors NNS B-NP +into IN B-PP +shifting VBG B-VP +some DT B-NP +of IN B-PP +their PRP$ B-NP +hoard NN I-NP +into IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +. . O + +And CC O +before IN B-PP +last JJ B-NP +Friday NNP I-NP +, , O +they PRP B-NP +were VBD B-VP +actually RB I-VP +making VBG I-VP +modest JJ B-NP +progress NN I-NP +. . O + +A DT B-NP +slightly RB I-NP +higher JJR I-NP +percentage NN I-NP +of IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +volume NN I-NP +has VBZ B-VP +been VBN I-VP +attributed VBN I-VP +to TO B-PP +retail VB B-NP +investors NNS I-NP +in IN B-PP +recent JJ B-NP +months NNS I-NP +compared VBN B-PP +with IN B-PP +post-crash JJ B-NP +1988 CD I-NP +, , O +according VBG B-PP +to TO B-PP +Securities NNP B-NP +Industry NNP I-NP +Association NNP I-NP +data NNS I-NP +. . O + +In IN B-PP +1987 CD B-NP +, , O +an DT B-NP +average JJ I-NP +19.7 CD I-NP +% NN I-NP +of IN B-PP +Big NNP B-NP +Board NNP I-NP +volume NN I-NP +was VBD B-VP +retail JJ B-NP +business NN I-NP +, , O +with IN B-SBAR +the DT B-NP +monthly JJ I-NP +level NN I-NP +never RB B-ADVP +more JJR B-NP +than IN I-NP +21.4 CD I-NP +% NN I-NP +. . O + +The DT B-NP +retail JJ I-NP +participation NN I-NP +dropped VBD B-VP +to TO B-PP +an DT B-NP +average JJ I-NP +18.2 CD I-NP +% NN I-NP +in IN B-PP +1988 CD B-NP +, , O +and CC O +shriveled VBD B-VP +to TO B-PP +barely RB B-NP +14 CD I-NP +% NN I-NP +some DT B-NP +months NNS I-NP +during IN B-PP +the DT B-NP +year NN I-NP +. . O + +Yet RB O +in IN B-PP +1989 CD B-NP +, , O +retail JJ B-NP +participation NN I-NP +has VBZ B-VP +been VBN I-VP +more JJR B-NP +than IN I-NP +20 CD I-NP +% NN I-NP +in IN B-PP +every DT B-NP +month NN I-NP +, , O +and CC O +was VBD B-VP +23.5 CD B-NP +% NN I-NP +in IN B-PP +August NNP B-NP +, , O +the DT B-NP +latest JJS I-NP +month NN I-NP +for IN B-PP +which WDT B-NP +figures NNS B-NP +are VBP B-VP +available JJ B-ADJP +. . O + +Jeffrey NNP B-NP +Schaefer NNP I-NP +, , O +the DT B-NP +SIA NNP I-NP +'s POS B-NP +research NN I-NP +director NN I-NP +, , O +says VBZ B-VP +that IN B-SBAR +all DT B-NP +of IN B-PP +his PRP$ B-NP +group NN I-NP +'s POS B-NP +retail-volume NN I-NP +statistics NNS I-NP +could MD B-VP +be VB I-VP +overstated VBN I-VP +by IN B-PP +as RB B-NP +much JJ I-NP +as IN I-NP +five CD I-NP +percentage NN I-NP +points NNS I-NP +because IN B-SBAR +corporate JJ B-NP +buy-backs NNS I-NP +are VBP B-VP +sometimes RB I-VP +inadvertently RB I-VP +included VBD I-VP +in IN B-PP +Big NNP B-NP +Board NNP I-NP +data NNS I-NP +. . O + +But CC O +there EX B-NP +did VBD B-VP +seem VB I-VP +to TO I-VP +be VB I-VP +a DT B-NP +retail JJ I-NP +activity NN I-NP +pickup NN I-NP +. . O + +But CC O +`` `` O +Friday NNP B-NP +did VBD B-VP +n't RB I-VP +help VB I-VP +things NNS B-NP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Schaefer NNP I-NP +. . O + +With IN B-PP +the DT B-NP +gyrations NNS I-NP +of IN B-PP +recent JJ B-NP +days NNS I-NP +, , O +says VBZ B-VP +Hugo NNP B-NP +Quackenbush NNP I-NP +, , O +senior JJ B-NP +vice NN I-NP +president NN I-NP +at IN B-PP +Charles NNP B-NP +Schwab NNP I-NP +, , O +many JJ B-NP +small JJ I-NP +investors NNS I-NP +are VBP B-VP +absolutely RB B-ADJP +convinced VBN I-ADJP +that IN B-SBAR +`` `` O +they PRP B-NP +should MD B-VP +n't RB I-VP +play VB I-VP +in IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +. . O +'' '' O + +Joseph NNP B-NP +Grano NNP I-NP +, , O +president NN B-NP +of IN B-PP +retail JJ B-NP +sales NNS I-NP +and CC O +marketing NN B-NP +at IN B-PP +PaineWebber NNP B-NP +Group NNP I-NP +Inc. NNP I-NP +, , O +still RB B-ADVP +thinks VBZ B-VP +that IN B-SBAR +individual JJ B-NP +investors NNS I-NP +will MD B-VP +eventually RB I-VP +go VB I-VP +back RB B-ADVP +into IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +. . O + +Investors NNS B-NP +will MD B-VP +develop VB I-VP +`` `` O +thicker JJR B-NP +skins NNS I-NP +, , O +'' '' O +and CC O +their PRP$ B-NP +confidence NN I-NP +will MD B-VP +return VB I-VP +, , O +he PRP B-NP +says VBZ B-VP +. . O + +Friday NNP B-NP +'s POS B-NP +plunge NN I-NP +, , O +he PRP B-NP +is VBZ B-VP +telling VBG I-VP +PaineWebber NNP B-NP +brokers NNS I-NP +, , O +was VBD B-VP +nothing NN B-ADJP +more JJR I-ADJP +than IN B-PP +a DT B-NP +`` `` I-NP +tremendous JJ I-NP +reaction NN I-NP +to TO B-PP +leveraged JJ B-NP +buy-out NN I-NP +stocks NNS I-NP +. . O +'' '' O + +Meanwhile RB B-ADVP +, , O +PaineWebber NNP B-NP +remains VBZ B-VP +among IN B-PP +the DT B-NP +leaders NNS I-NP +in IN B-PP +efforts NNS B-NP +to TO B-VP +simply RB I-VP +persuade VB I-VP +investors NNS B-NP +to TO B-VP +keep VB I-VP +giving VBG I-VP +Wall NNP B-NP +Street NNP I-NP +their PRP$ B-NP +money NN I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +more JJR B-NP +of IN B-PP +an DT B-NP +important JJ I-NP +issue NN I-NP +to TO B-VP +keep VB I-VP +control NN B-NP +of IN B-PP +those DT B-NP +assets NNS I-NP +, , O +rather RB B-CONJP +than IN I-CONJP +push NN B-VP +the DT B-NP +investor NN I-NP +to TO B-VP +move VB I-VP +into IN B-PP +-LRB- ( O +specific JJ O +-RRB- ) O +products NNS B-NP +such JJ B-PP +as IN I-PP +equities NNS B-NP +, , O +'' '' O +Mr. NNP B-NP +Grano NNP I-NP +says VBZ B-VP +. . O + +`` `` O +The DT B-NP +equity NN I-NP +decision NN I-NP +will MD B-VP +come VB I-VP +when WRB B-ADVP +the DT B-NP +client NN I-NP +is VBZ B-VP +ready JJ B-ADJP +and CC O +when WRB B-ADVP +there EX B-NP +'s VBZ B-VP +a DT B-NP +semblance NN I-NP +of IN B-PP +confidence NN B-NP +. . O +'' '' O + +It PRP B-NP +could MD B-VP +be VB I-VP +a DT B-NP +long JJ I-NP +wait NN I-NP +, , O +say VBP B-VP +some DT B-NP +industry NN I-NP +observers NNS I-NP +. . O + +`` `` O +Some DT B-NP +investors NNS I-NP +will MD B-VP +tiptoe VB I-VP +back RB B-ADVP +in IN B-ADVP +, , O +'' '' O +says VBZ B-VP +Richard NNP B-NP +Ross NNP I-NP +, , O +a DT B-NP +market NN I-NP +research NN I-NP +director NN I-NP +for IN B-PP +Elrick NNP B-NP +& CC I-NP +Lavidge NNP I-NP +in IN B-PP +Chicago NNP B-NP +. . O + +`` `` O +Then RB O +there EX B-NP +'ll MD B-VP +be VB I-VP +another DT B-NP +swing NN I-NP +. . O + +Given VBN B-PP +enough RB B-NP +of IN B-PP +these DT B-NP +, , O +this DT B-NP +will MD B-VP +drive VB I-VP +everyone NN B-NP +out IN B-ADVP +except IN B-PP +the DT B-NP +most RBS I-NP +hardy JJ I-NP +, , O +'' '' O +he PRP B-NP +adds VBZ B-VP +. . O + +Mr. NNP B-NP +Ross NNP I-NP +, , O +who WP B-NP +has VBZ B-VP +been VBN I-VP +studying VBG I-VP +retail JJ B-NP +investors NNS I-NP +' POS B-NP +perception NN I-NP +of IN B-PP +risks NNS B-NP +in IN B-PP +the DT B-NP +brokerage NN I-NP +industry NN I-NP +, , O +said VBD B-VP +a DT B-NP +market NN I-NP +plunge NN I-NP +like IN B-PP +Friday NNP B-NP +'s POS B-NP +`` `` O +shatters NNS B-VP +investors NNS B-NP +' '' B-NP +confidence NN I-NP +in IN B-PP +their PRP$ B-NP +ability NN I-NP +to TO B-VP +make VB I-VP +any DT B-NP +judgments NNS I-NP +on IN B-PP +the DT B-NP +market NN I-NP +. . O +'' '' O + +The DT B-NP +long-term JJ I-NP +outlook NN I-NP +for IN B-PP +the DT B-NP +retail JJ I-NP +brokerage NN I-NP +business NN I-NP +is VBZ B-VP +`` `` O +miserable JJ B-ADJP +, , O +'' '' O +Mr. NNP B-NP +Ross NNP I-NP +declares VBZ B-VP +. . O + +The DT B-NP +following VBG I-NP +were VBD B-VP +among IN B-PP +yesterday NN B-NP +'s POS B-NP +offerings NNS I-NP +and CC I-NP +pricings NNS I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +and CC I-NP +non-U.S. JJ I-NP +capital NN I-NP +markets NNS I-NP +, , O +with IN B-PP +terms NNS B-NP +and CC I-NP +syndicate NN I-NP +manager NN I-NP +, , O +as IN B-SBAR +compiled VBN B-VP +by IN B-PP +Dow NNP B-NP +Jones NNP I-NP +Capital NNP I-NP +Markets NNP I-NP +Report NNP I-NP +: : O + +Washington NNP B-NP +, , O +D.C. NNP B-NP +-- : O + +$ $ B-NP +200 CD I-NP +million CD I-NP +of IN B-PP +general JJ B-NP +obligation NN I-NP +tax NN I-NP +revenue NN I-NP +anticipation NN I-NP +notes NNS I-NP +, , O +Series NNP B-NP +1990 CD I-NP +, , O +due JJ B-ADJP +Sept. NNP B-NP +28 CD I-NP +, , I-NP +1990 CD I-NP +. . O + +About IN B-NP +$ $ I-NP +190 CD I-NP +million CD I-NP +were VBD B-VP +offered VBN I-VP +through IN B-PP +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +Inc NNP I-NP +. . O + +Shearson NNP B-NP +is VBZ B-VP +offering VBG I-VP +the DT B-NP +notes NNS I-NP +as IN B-PP +6 CD B-NP +3\/4 CD I-NP +% NN I-NP +securities NNS I-NP +priced VBN B-VP +to TO B-VP +yield VB I-VP +6.15 CD B-NP +% NN I-NP +. . O + +J.P. NNP B-NP +Morgan NNP I-NP +Securities NNP I-NP +Inc. NNP I-NP +is VBZ B-VP +offering VBG I-VP +the DT B-NP +remaining VBG I-NP +$ $ I-NP +10 CD I-NP +million CD I-NP +of IN B-PP +notes NNS B-NP +. . O + +The DT B-NP +notes NNS I-NP +are VBP B-VP +rated VBN I-VP +MIG-1 JJ B-ADJP +by IN B-PP +Moody NNP B-NP +'s POS B-NP +Investors NNP I-NP +Service NNP I-NP +Inc NNP I-NP +. . O + +Standard NNP B-NP +& CC I-NP +Poor NNP I-NP +'s POS B-NP +Corp. NNP I-NP +has VBZ B-VP +them PRP B-NP +under IN B-PP +review NN B-NP +. . O + +Federal NNP B-NP +National NNP I-NP +Mortgage NNP I-NP +Association NNP I-NP +-- : O + +$ $ B-NP +400 CD I-NP +million CD I-NP +of IN B-PP +Remic NNP B-NP +mortgage NN I-NP +securities NNS I-NP +being VBG B-VP +offered VBN I-VP +in IN B-PP +16 CD B-NP +classes NNS I-NP +by IN B-PP +Bear NNP B-NP +, , I-NP +Stearns NNP I-NP +& CC I-NP +Co NNP I-NP +. . O + +The DT B-NP +offering NN I-NP +, , O +Series NNP B-NP +1989-83 CD I-NP +, , O +is VBZ B-VP +backed VBN I-VP +by IN B-PP +Fannie NNP B-NP +Mae NNP I-NP +9 CD I-NP +% NN I-NP +securities NNS I-NP +. . O + +The DT B-NP +offering NN I-NP +used VBD B-VP +at-market JJ B-NP +pricing NN I-NP +. . O + +Separately RB B-ADVP +, , O +Fannie NNP B-NP +Mae NNP I-NP +issued VBD B-VP +$ $ B-NP +400 CD I-NP +million CD I-NP +of IN B-PP +Remic NNP B-NP +mortgage NN I-NP +securities NNS I-NP +in IN B-PP +12 CD B-NP +classes NNS I-NP +through IN B-PP +First NNP B-NP +Boston NNP I-NP +Corp NNP I-NP +. . O + +The DT B-NP +offering NN I-NP +, , O +Series NNP B-NP +1989-84 CD I-NP +, , O +is VBZ B-VP +backed VBN I-VP +by IN B-PP +Fannie NNP B-NP +Mae NNP I-NP +9 CD I-NP +% NN I-NP +securities NNS I-NP +. . O + +Pricing NN B-NP +details NNS I-NP +were VBD B-VP +n't RB O +available JJ B-ADJP +. . O + +The DT B-NP +two CD I-NP +offerings NNS I-NP +bring VBP B-VP +Fannie NNP B-NP +Mae NNP I-NP +'s POS B-NP +1989 CD I-NP +Remic NNP I-NP +issuance NN I-NP +to TO B-PP +$ $ B-NP +31 CD I-NP +billion CD I-NP +and CC O +its PRP$ B-NP +total JJ I-NP +volume NN I-NP +to TO B-PP +$ $ B-NP +43.3 CD I-NP +billion CD I-NP +since IN B-SBAR +the DT B-NP +program NN I-NP +began VBD B-VP +in IN B-PP +April NNP B-NP +1987 CD I-NP +. . O + +Societa NNP B-NP +per IN I-NP +Azioni NNP I-NP +Finanziaria NNP I-NP +Industria NNP I-NP +Manaifatturiera NNP I-NP +-LRB- ( O +Italy NNP B-NP +-RRB- ) O +-- : O + +$ $ B-NP +150 CD I-NP +million CD I-NP +of IN B-PP +9 CD B-NP +% NN I-NP +depository NN I-NP +receipts NNS I-NP +due JJ B-ADJP +Nov. NNP B-NP +27 CD I-NP +, , I-NP +1994 CD I-NP +, , O +priced VBN B-VP +at IN B-PP +101.60 CD B-NP +to TO B-VP +yield VB I-VP +9.07 CD B-NP +% NN I-NP +less JJR B-PP +fees NNS B-NP +, , O +via IN B-PP +Bankers NNP B-NP +Trust NNP I-NP +International NNP I-NP +Ltd NNP I-NP +. . O + +Fees NNS B-NP +1 CD B-NP +7\/8 CD I-NP +. . O + +Mitsubishi NNP B-NP +Corp NNP I-NP +. . I-NP +Finance NNP I-NP +-LRB- ( O +Japanese JJ B-NP +parent NN I-NP +-RRB- ) O +-- : O + +$ $ B-NP +100 CD I-NP +million CD I-NP +of IN B-PP +8 CD B-NP +5\/8 CD I-NP +% NN I-NP +bonds NNS I-NP +due JJ B-ADJP +Nov. NNP B-NP +1 CD I-NP +, , I-NP +1993 CD I-NP +priced VBN B-VP +at IN B-PP +101 CD B-NP +1\/4 CD I-NP +to TO B-VP +yield VB I-VP +8.74 CD B-NP +% NN I-NP +annually RB B-ADVP +less RBR B-PP +full JJ B-NP +fees NNS I-NP +, , O +via IN B-PP +Yamaichi NNP B-NP +International NNP I-NP +-LRB- ( O +Europe NNP O +-RRB- ) O +Ltd NNP B-NP +. . O + +Fees NNS B-NP +1 CD B-NP +5\/8 CD I-NP +. . O + +Indian NNP B-NP +Oil NNP I-NP +Corp NNP I-NP +. . O +-LRB- ( O +India NNP B-NP +-RRB- ) O +-- : O + +$ $ B-NP +200 CD I-NP +million CD I-NP +of IN B-PP +floating-rate JJ B-NP +notes NNS I-NP +due JJ B-ADJP +November NNP B-NP +1994 CD I-NP +, , O +paying VBG B-VP +six-month JJ B-NP +London NNP I-NP +interbank NN I-NP +offered VBD I-NP +rate NN I-NP +plus CC O +3\/16 CD B-NP +point NN I-NP +and CC O +priced VBN B-VP +at IN B-PP +par NN B-NP +via IN B-PP +Credit NNP B-NP +Suisse NNP I-NP +First NNP I-NP +Boston NNP I-NP +Ltd NNP I-NP +. . O + +Guaranteed VBN B-VP +by IN B-PP +India NNP B-NP +. . O + +Fees NNS B-NP +0.36 CD B-NP +. . O + +Notes NNS B-NP +offered VBN B-VP +at IN B-PP +a DT B-NP +fixed VBN I-NP +level NN I-NP +of IN B-PP +99.75 CD B-NP +. . O + +National NNP B-NP +Westminster NNP I-NP +Bank NNP I-NP +PLC NNP I-NP +-LRB- ( O +U.K. NNP B-NP +-RRB- ) O +-- : O + +# # B-NP +200 CD I-NP +million CD I-NP +of IN B-PP +undated JJ B-NP +variable-rate JJ I-NP +notes NNS I-NP +priced VBN B-VP +at IN B-PP +par NN B-NP +via IN B-PP +Merill NNP B-NP +Lynch NNP I-NP +International NNP I-NP +Ltd NNP I-NP +. . O + +Initial JJ B-NP +interest NN I-NP +rate NN I-NP +set VBN B-VP +at IN B-PP +0.375 CD B-NP +point NN I-NP +over IN B-PP +three-month JJ B-NP +Libor NNP I-NP +. . O + +Subsequent JJ B-NP +margins NNS I-NP +set VBN B-VP +by IN B-PP +agreement NN B-NP +between IN B-PP +NatWest NNP B-NP +and CC I-NP +Merrill NNP I-NP +. . O + +If IN B-SBAR +no DT B-NP +margin NN I-NP +agreed VBD B-ADJP +, , O +there EX B-NP +is VBZ B-VP +a DT B-NP +fallback NN I-NP +rate NN I-NP +of IN B-PP +Libor NNP B-NP +plus CC O +0.75 CD B-NP +point NN I-NP +in IN B-PP +years NNS B-NP +one CD I-NP +to TO I-NP +15 CD I-NP +, , O +and CC O +Libor NNP B-NP +plus CC O +1.25 CD B-NP +point NN I-NP +thereafter RB B-ADVP +. . O + +Keihin NNP B-NP +Electric NNP I-NP +Express NNP I-NP +Railway NNP I-NP +Co NNP I-NP +. . O +-LRB- ( O +Japan NNP B-NP +-RRB- ) O +-- : O + +$ $ B-NP +150 CD I-NP +million CD I-NP +of IN B-PP +bonds NNS B-NP +due JJ B-ADJP +Nov. NNP B-NP +9 CD I-NP +, , I-NP +1993 CD I-NP +, , O +with IN B-PP +equity-purchase JJ B-NP +warrants NNS I-NP +, , O +indicating VBG B-VP +a DT B-NP +4 CD I-NP +% NN I-NP +coupon NN I-NP +at IN B-PP +par NN B-NP +via IN B-PP +Yamaichi NNP B-NP +International NNP I-NP +-LRB- ( O +Europe NNP O +-RRB- ) O +Ltd NNP B-NP +. . O + +Each DT B-NP +$ $ I-NP +5,000 CD I-NP +bond NN I-NP +carries VBZ B-VP +one CD B-NP +warrant NN I-NP +, , O +exercisable JJ B-ADJP +from IN B-PP +Dec. NNP B-NP +1 CD I-NP +, , I-NP +1989 CD I-NP +, , O +through IN B-PP +Nov. NNP B-NP +2 CD I-NP +, , I-NP +1993 CD I-NP +, , O +to TO B-VP +buy VB I-VP +company NN B-NP +shares NNS I-NP +at IN B-PP +an DT B-NP +expected VBN I-NP +premium NN I-NP +of IN B-PP +2 CD B-NP +1\/2 CD I-NP +% NN I-NP +to TO B-PP +the DT B-NP +closing VBG I-NP +share NN I-NP +price NN I-NP +when WRB B-ADVP +terms NNS B-NP +are VBP B-VP +fixed VBN I-VP +Oct. NNP B-NP +24 CD I-NP +. . O + +Seiren NNP B-NP +Co NNP I-NP +. . O +-LRB- ( O +Japan NNP B-NP +-RRB- ) O +-- : O + +110 CD B-NP +million CD I-NP +Swiss JJ I-NP +francs NNS I-NP +of IN B-PP +privately RB B-NP +placed VBN I-NP +convertible JJ I-NP +notes NNS I-NP +due JJ B-ADJP +March NNP B-NP +31 CD I-NP +, , I-NP +1994 CD I-NP +, , O +with IN B-PP +an DT B-NP +indicated VBD I-NP +0.25 CD I-NP +% NN I-NP +coupon NN I-NP +at IN B-PP +par NN B-NP +, , O +via IN B-PP +Bank NNP B-NP +Leu NNP I-NP +Ltd NNP I-NP +. . O + +Put VB B-NP +option NN I-NP +on IN B-PP +March NNP B-NP +31 CD I-NP +, , I-NP +1992 CD I-NP +, , O +at IN B-PP +an DT B-NP +indicated VBD I-NP +109 CD I-NP +to TO B-VP +yield VB I-VP +3.865 CD B-NP +% NN I-NP +. . O + +Callable JJ B-ADJP +on IN B-PP +March NNP B-NP +31 CD I-NP +, , I-NP +1992 CD I-NP +, , O +at IN B-PP +109 CD B-NP +, , O +also RB B-VP +beginning VBG I-VP +Sept. NNP B-NP +30 CD I-NP +, , I-NP +1992 CD I-NP +, , O +from IN B-PP +101 CD B-NP +1\/2 CD I-NP +and CC O +declining VBG B-VP +half PDT B-NP +a DT I-NP +point NN I-NP +semiannually RB B-ADVP +to TO B-PP +par NN B-NP +. . O + +Each DT B-NP +50,000 CD I-NP +Swiss JJ I-NP +franc NN I-NP +note NN I-NP +is VBZ B-VP +convertible JJ B-ADJP +from IN B-PP +Nov. NNP B-NP +20 CD I-NP +, , I-NP +1989 CD I-NP +, , O +to TO B-PP +March NNP B-NP +17 CD I-NP +, , I-NP +1994 CD I-NP +, , O +at IN B-PP +an DT B-NP +indicated VBN I-NP +5 NN I-NP +% NN I-NP +premium NN I-NP +over IN B-PP +the DT B-NP +closing VBG I-NP +share NN I-NP +price NN I-NP +Oct. NNP B-NP +25 CD I-NP +, , O +when WRB B-ADVP +terms NNS B-NP +are VBP B-VP +scheduled VBN I-VP +to TO I-VP +be VB I-VP +fixed VBN I-VP +. . O + +N. NNP B-NP +Nomura NNP I-NP +& CC I-NP +Co NNP I-NP +. . O +-LRB- ( O +Japan NNP B-NP +-RRB- ) O +-- : O + +50 CD B-NP +million CD I-NP +Swiss JJ I-NP +francs NNS I-NP +of IN B-PP +privately RB B-NP +placed VBN I-NP +convertible JJ I-NP +notes NNS I-NP +due JJ B-ADJP +March NNP B-NP +31 CD I-NP +, , I-NP +1994 CD I-NP +, , O +with IN B-PP +an DT B-NP +indicated VBD I-NP +0.5 CD I-NP +% NN I-NP +coupon NN I-NP +at IN B-PP +par NN B-NP +, , O +via IN B-PP +Bank NNP B-NP +Julius NNP I-NP +Baer NNP I-NP +. . O + +Put VB B-NP +option NN I-NP +on IN B-PP +March NNP B-NP +31 CD I-NP +, , I-NP +1992 CD I-NP +, , O +at IN B-PP +an DT B-NP +indicated VBD I-NP +108 CD I-NP +1\/4 CD I-NP +to TO B-VP +yield VB I-VP +3.846 CD B-NP +% NN I-NP +. . O + +Each DT B-NP +50,000 CD I-NP +Swiss JJ I-NP +franc NN I-NP +note NN I-NP +is VBZ B-VP +convertible JJ B-ADJP +from IN B-PP +Nov. NNP B-NP +20 CD I-NP +, , I-NP +1989 CD I-NP +, , O +to TO B-PP +March NNP B-NP +17 CD I-NP +, , I-NP +1994 CD I-NP +, , O +at IN B-PP +a DT B-NP +5 NN I-NP +% NN I-NP +premium NN I-NP +over IN B-PP +the DT B-NP +closing VBG I-NP +share NN I-NP +price NN I-NP +Oct. NNP B-NP +21 CD I-NP +, , O +when WRB B-ADVP +terms NNS B-NP +are VBP B-VP +scheduled VBN I-VP +to TO I-VP +be VB I-VP +fixed VBN I-VP +. . O + +Aegon NNP B-NP +N.V NNP I-NP +. . O +-LRB- ( O +Netherlands NNP B-NP +-RRB- ) O +-- : O + +250 CD B-NP +million CD I-NP +Dutch JJ I-NP +guilders NNS I-NP +of IN B-PP +7 CD B-NP +3\/4 CD I-NP +% NN I-NP +bonds NNS I-NP +due JJ B-ADJP +Nov. NNP B-NP +15 CD I-NP +, , I-NP +1999 CD I-NP +, , O +priced VBN B-VP +at IN B-PP +101 CD B-NP +1\/4 CD I-NP +to TO B-VP +yield VB I-VP +7.57 CD B-NP +% NN I-NP +at IN B-PP +issue NN B-NP +price NN I-NP +and CC O +7.86 CD B-NP +% NN I-NP +less RBR B-PP +full JJ B-NP +fees NNS I-NP +, , O +via IN B-PP +AMRO NNP B-NP +Bank NNP I-NP +. . O + +Fees NNS B-NP +2 CD B-NP +. . O + +Continental NNP B-NP +Airlines NNPS I-NP +-- : O + +a DT B-NP +four-part JJ I-NP +, , I-NP +$ $ I-NP +71 CD I-NP +million CD I-NP +issue NN I-NP +of IN B-PP +secured VBN B-NP +equipment NN I-NP +certificates NNS I-NP +priced VBN B-VP +through IN B-PP +Drexel NNP B-NP +Burnham NNP I-NP +Lambert NNP I-NP +Inc NNP I-NP +. . O + +The DT B-NP +size NN I-NP +of IN B-PP +the DT B-NP +issue NN I-NP +was VBD B-VP +decreased VBN I-VP +from IN B-PP +an DT B-NP +originally RB I-NP +planned VBN I-NP +$ $ I-NP +95.2 CD I-NP +million CD I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +a DT B-NP +planned VBN I-NP +two-part JJ I-NP +offering NN I-NP +of IN B-PP +$ $ B-NP +58 CD I-NP +million CD I-NP +in IN B-PP +unsecured JJ B-NP +notes NNS I-NP +was VBD B-VP +n't RB I-VP +offered VBN I-VP +. . O + +The DT B-NP +first JJ I-NP +part NN I-NP +, , O +consisting VBG B-VP +of IN B-PP +$ $ B-NP +2.5 CD I-NP +million CD I-NP +of IN B-PP +11 CD B-NP +1\/4 CD I-NP +% NN I-NP +secured VBD I-NP +equipment NN I-NP +certificates NNS I-NP +due JJ B-ADJP +June NNP B-NP +15 CD I-NP +, , I-NP +1990 CD I-NP +, , O +was VBD B-VP +priced VBN I-VP +at IN B-PP +98.481 CD B-NP +with IN B-PP +a DT B-NP +yield NN I-NP +to TO B-PP +maturity NN B-NP +of IN B-PP +13.75 CD B-NP +% NN I-NP +. . O + +The DT B-NP +second JJ I-NP +part NN I-NP +, , O +consisting VBG B-VP +of IN B-PP +$ $ B-NP +28 CD I-NP +million CD I-NP +of IN B-PP +11 CD B-NP +3\/4 CD I-NP +% NN I-NP +secured VBD I-NP +equipment NN I-NP +certificates NNS I-NP +due JJ B-ADJP +June NNP B-NP +15 CD I-NP +, , I-NP +1995 CD I-NP +, , O +was VBD B-VP +priced VBN I-VP +at IN B-PP +87.026 CD B-NP +with IN B-PP +a DT B-NP +yield NN I-NP +to TO B-PP +maturity NN B-NP +of IN B-PP +15.25 CD B-NP +% NN I-NP +. . O + +The DT B-NP +third JJ I-NP +part NN I-NP +, , O +consisting VBG B-VP +of IN B-PP +$ $ B-NP +18.5 CD I-NP +million CD I-NP +of IN B-PP +12 CD B-NP +1\/8 CD I-NP +% NN I-NP +secured VBD I-NP +equipment NN I-NP +certificates NNS I-NP +due JJ B-ADJP +April NNP B-NP +15 CD I-NP +, , I-NP +1996 CD I-NP +, , O +was VBD B-VP +priced VBN I-VP +at IN B-PP +85.60 CD B-NP +with IN B-PP +a DT B-NP +yield NN I-NP +to TO B-PP +maturity NN B-NP +of IN B-PP +15.75 CD B-NP +% NN I-NP +. . O + +The DT B-NP +fourth JJ I-NP +part NN I-NP +, , O +consisting VBG B-VP +of IN B-PP +$ $ B-NP +22 CD I-NP +million CD I-NP +of IN B-PP +12 CD B-NP +1\/2 CD I-NP +% NN I-NP +secured VBD I-NP +equipment NN I-NP +certificates NNS I-NP +due JJ B-ADJP +April NNP B-NP +15 CD I-NP +, , I-NP +1999 CD I-NP +, , O +was VBD B-VP +priced VBN I-VP +at IN B-PP +85.339 CD B-NP +with IN B-PP +a DT B-NP +yield NN I-NP +to TO B-PP +maturity NN B-NP +of IN B-PP +15.50 CD B-NP +% NN I-NP +. . O + +The DT B-NP +issue NN I-NP +was VBD B-VP +rated VBN I-VP +single-B-2 JJ B-ADJP +by IN B-PP +Moody NNP B-NP +'s POS B-NP +and CC O +single-B JJ B-ADJP +by IN B-PP +S&P NNP B-NP +. . O + +All DT B-NP +parts NNS I-NP +of IN B-PP +the DT B-NP +issue NN I-NP +are VBP B-VP +callable JJ B-ADJP +at IN B-PP +any DT B-NP +time NN I-NP +at IN B-PP +par NN B-NP +. . O + +Continental NNP B-NP +Airlines NNPS I-NP +is VBZ B-VP +a DT B-NP +unit NN I-NP +of IN B-PP +Texas NNP B-NP +Air NNP I-NP +Corp NNP I-NP +. . O + +John NNP B-NP +V. NNP I-NP +Holmes NNP I-NP +, , O +an DT B-NP +investment-newsletter NN I-NP +publisher NN I-NP +, , O +and CC O +three CD B-NP +venture-capital JJ I-NP +firms NNS I-NP +he PRP B-NP +organized VBD B-VP +were VBD B-VP +enjoined VBN I-VP +from IN B-PP +violating VBG B-VP +the DT B-NP +registration NN I-NP +provisions NNS I-NP +of IN B-PP +the DT B-NP +securities NNS I-NP +laws NNS I-NP +governing VBG B-VP +investment NN B-NP +companies NNS I-NP +. . O + +As IN B-PP +part NN B-NP +of IN B-PP +an DT B-NP +agreement NN I-NP +that WDT B-NP +settled VBD B-VP +charges NNS B-NP +brought VBN B-VP +by IN B-PP +the DT B-NP +Securities NNP I-NP +and CC I-NP +Exchange NNP I-NP +Commission NNP I-NP +, , O +a DT B-NP +receiver NN I-NP +was VBD B-VP +also RB I-VP +appointed VBN I-VP +for IN B-PP +the DT B-NP +three CD I-NP +venture-capital JJ I-NP +firms NNS I-NP +. . O + +Mr. NNP B-NP +Holmes NNP I-NP +was VBD B-VP +the DT B-NP +subject NN I-NP +of IN B-PP +a DT B-NP +page NN I-NP +one CD I-NP +profile NN I-NP +in IN B-PP +The DT B-NP +Wall NNP I-NP +Street NNP I-NP +Journal NNP I-NP +in IN B-PP +1984 CD B-NP +, , O +after IN B-SBAR +the DT B-NP +SEC NNP I-NP +questioned VBD B-VP +him PRP B-NP +about IN B-PP +ties NNS B-NP +between IN B-PP +him PRP B-NP +and CC O +companies NNS B-NP +he PRP B-NP +touted VBD B-VP +in IN B-PP +a DT B-NP +newsletter NN I-NP +. . O + +In IN B-PP +1986 CD B-NP +, , O +in IN B-PP +another DT B-NP +consent NN I-NP +agreement NN I-NP +with IN B-PP +the DT B-NP +SEC NNP I-NP +, , O +Mr. NNP B-NP +Holmes NNP I-NP +was VBD B-VP +enjoined VBN I-VP +from IN B-PP +violating VBG B-VP +the DT B-NP +stock-registration NN I-NP +and CC I-NP +anti-fraud JJ I-NP +provisions NNS I-NP +of IN B-PP +the DT B-NP +securities NNS I-NP +laws NNS I-NP +. . O + +Without IN B-PP +any DT B-NP +admission NN I-NP +or CC I-NP +denial NN I-NP +of IN B-PP +guilt NN B-NP +by IN B-PP +Mr. NNP B-NP +Holmes NNP I-NP +, , O +that DT B-NP +agreement NN I-NP +settled VBD B-VP +SEC NNP B-NP +charges NNS I-NP +that IN B-SBAR +Mr. NNP B-NP +Holmes NNP I-NP +sold VBD B-VP +unregistered JJ B-NP +securities NNS I-NP +and CC O +misled VBD B-VP +investors NNS B-NP +. . O + +In IN B-PP +charges NNS B-NP +filed VBD B-VP +last JJ B-NP +week NN I-NP +in IN B-PP +federal JJ B-NP +district NN I-NP +court NN I-NP +in IN B-PP +Charlotte NNP B-NP +, , O +N.C. NNP B-NP +, , O +the DT B-NP +SEC NNP I-NP +alleged VBD B-VP +that IN B-SBAR +Venture NNP B-NP +Capitalists NNPS I-NP +Inc. NNP I-NP +, , O +Venture NNP B-NP +Finance NNP I-NP +Corp. NNP I-NP +and CC O +New NNP B-NP +Ventures NNP I-NP +Fund NNP I-NP +Inc. NNP I-NP +, , O +all DT B-NP +of IN B-PP +Charlotte NNP B-NP +, , O +failed VBD B-VP +repeatedly RB I-VP +to TO I-VP +file VB I-VP +proper JJ B-NP +documents NNS I-NP +. . O + +The DT B-NP +SEC NNP I-NP +also RB B-ADVP +charged VBD B-VP +that IN B-SBAR +Mr. NNP B-NP +Holmes NNP I-NP +acted VBD B-VP +as IN B-PP +an DT B-NP +officer NN I-NP +or CC I-NP +director NN I-NP +of IN B-PP +New NNP B-NP +Ventures NNP I-NP +, , O +in IN B-PP +violation NN B-NP +of IN B-PP +his PRP$ B-NP +previous JJ I-NP +consent NN I-NP +agreement NN I-NP +. . O + +`` `` O +Some DT B-NP +companies NNS I-NP +were VBD B-VP +delinquent JJ B-ADJP +in IN B-PP +filings NNS B-NP +and CC O +other JJ B-NP +actions NNS I-NP +, , O +all DT B-NP +of IN B-PP +which WDT B-NP +cost VBP B-VP +money NN B-NP +, , O +'' '' O +Mr. NNP B-NP +Holmes NNP I-NP +said VBD B-VP +. . O + +Two CD B-NP +of IN B-PP +Mr. NNP B-NP +Holmes NNP I-NP +'s POS B-NP +business NN I-NP +associates NNS I-NP +who WP B-NP +worked VBD B-VP +for IN B-PP +Venture NNP B-NP +Capitalists NNPS I-NP +, , O +Kimberly NNP B-NP +Ann NNP I-NP +Smith NNP I-NP +and CC O +Frederick NNP B-NP +Byrum NNP I-NP +, , O +also RB B-ADVP +consented VBD B-VP +to TO I-VP +being VBG I-VP +enjoined VBN I-VP +from IN B-PP +violations NNS B-NP +of IN B-PP +registration NN B-NP +provisions NNS I-NP +of IN B-PP +the DT B-NP +securities NNS I-NP +laws NNS I-NP +. . O + +Ms. NNP B-NP +Smith NNP I-NP +also RB B-ADVP +agreed VBD B-VP +to TO B-PP +a DT B-NP +permanent JJ I-NP +injunction NN I-NP +barring VBG B-VP +her PRP B-NP +from IN B-PP +acting VBG B-VP +as IN B-PP +an DT B-NP +officer NN I-NP +, , I-NP +director NN I-NP +or CC I-NP +investment NN I-NP +adviser NN I-NP +of IN B-PP +any DT B-NP +mutual JJ I-NP +fund NN I-NP +, , I-NP +unit NN I-NP +investment NN I-NP +trust NN I-NP +or CC I-NP +face-amount JJ I-NP +certificate NN I-NP +company NN I-NP +. . O + +Mr. NNP B-NP +Byrum NNP I-NP +and CC O +Ms. NNP B-NP +Smith NNP I-NP +could MD B-VP +n't RB I-VP +be VB I-VP +reached VBN I-VP +for IN B-PP +comment NN B-NP +. . O + +In IN B-PP +consenting VBG B-VP +to TO B-PP +the DT B-NP +injunctions NNS I-NP +, , O +none NN B-NP +of IN B-PP +the DT B-NP +individuals NNS I-NP +or CC I-NP +companies NNS I-NP +admitted VBD B-VP +or CC I-VP +denied VBD I-VP +the DT B-NP +allegations NNS I-NP +. . O + +Senate NNP B-NP +Republicans NNPS I-NP +have VBP B-VP +settled VBN I-VP +on IN B-PP +a DT B-NP +proposal NN I-NP +that WDT B-NP +would MD B-VP +cut VB I-VP +the DT B-NP +capital-gains NNS I-NP +tax VBP I-NP +for IN B-PP +individuals NNS B-NP +and CC I-NP +corporations NNS I-NP +. . O + +At IN B-PP +the DT B-NP +same JJ I-NP +time NN I-NP +, , O +a DT B-NP +small JJ I-NP +group NN I-NP +of IN B-PP +Senate NNP B-NP +Democrats NNPS I-NP +are VBP B-VP +working VBG I-VP +on IN B-PP +a DT B-NP +similar JJ I-NP +plan NN I-NP +and CC O +may MD B-VP +introduce VB I-VP +it PRP B-NP +soon RB B-ADVP +. . O + +Sen. NNP B-NP +Bob NNP I-NP +Packwood NNP I-NP +-LRB- ( O +R. NNP B-NP +, , O +Ore. NNP B-NP +-RRB- ) O +, , O +the DT B-NP +lead NN I-NP +sponsor NN I-NP +of IN B-PP +the DT B-NP +GOP NNP I-NP +proposal NN I-NP +, , O +said VBD B-VP +he PRP B-NP +intends VBZ B-VP +to TO I-VP +unveil VB I-VP +the DT B-NP +plan NN I-NP +today NN B-NP +and CC O +to TO B-VP +offer VB I-VP +it PRP B-NP +as IN B-PP +an DT B-NP +amendment NN I-NP +to TO B-PP +whatever WDT B-NP +legislation NN I-NP +comes VBZ B-VP +along IN B-ADVP +, , O +particularly RB B-ADVP +this DT B-NP +month NN I-NP +'s POS B-NP +bill NN I-NP +to TO B-VP +raise VB I-VP +the DT B-NP +federal JJ I-NP +borrowing NN I-NP +limit NN I-NP +. . O + +He PRP B-NP +gave VBD B-VP +10-to-1 JJ B-NP +odds NNS I-NP +that IN B-SBAR +a DT B-NP +capital-gains NNS I-NP +tax VBP I-NP +cut VB I-NP +of IN B-PP +some DT B-NP +sort NN I-NP +would MD B-VP +be VB I-VP +approved VBN I-VP +this DT B-NP +year NN I-NP +, , O +though IN B-SBAR +it PRP B-NP +probably RB B-ADVP +wo MD B-VP +n't RB I-VP +be VB I-VP +included VBN I-VP +in IN B-PP +the DT B-NP +pending VBG I-NP +deficit-reduction NN I-NP +bill NN I-NP +. . O + +He PRP B-NP +added VBD B-VP +that IN B-SBAR +he PRP B-NP +expects VBZ B-VP +to TO I-VP +talk VB I-VP +to TO B-PP +the DT B-NP +Democrats NNPS I-NP +who WP B-NP +also RB B-ADVP +wanted VBD B-VP +to TO I-VP +cut VB I-VP +the DT B-NP +gains NNS I-NP +tax VBP I-NP +about IN B-PP +drafting VBG B-VP +a DT B-NP +joint JJ I-NP +proposal NN I-NP +. . O + +For IN B-PP +individuals NNS B-NP +, , O +the DT B-NP +Packwood NNP I-NP +plan NN I-NP +would MD B-VP +exclude VB I-VP +from IN B-PP +income NN B-NP +5 NN B-NP +% NN I-NP +of IN B-PP +the DT B-NP +gain NN I-NP +from IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +a DT B-NP +capital NN I-NP +asset NN I-NP +held VBN B-VP +for IN B-PP +more JJR B-NP +than IN I-NP +one CD I-NP +year NN I-NP +. . O + +The DT B-NP +exclusion NN I-NP +would MD B-VP +rise VB I-VP +five CD B-NP +percentage NN I-NP +points NNS I-NP +for IN B-PP +each DT B-NP +year NN I-NP +the DT B-NP +asset NN I-NP +was VBD B-VP +held VBN I-VP +until IN B-SBAR +it PRP B-NP +reached VBD B-VP +a DT B-NP +maximum NN I-NP +of IN B-PP +35 CD B-NP +% NN I-NP +. . O + +The DT B-NP +exclusion NN I-NP +would MD B-VP +apply VB I-VP +to TO B-PP +assets NNS B-NP +sold VBN B-VP +after IN B-PP +Oct. NNP B-NP +1 CD I-NP +, , I-NP +1989 CD I-NP +. . O + +As IN B-PP +an DT B-NP +alternative NN I-NP +, , O +he PRP B-NP +said VBD B-VP +, , O +taxpayers NNS B-NP +could MD B-VP +chose VBD I-VP +to TO I-VP +reduce VB I-VP +their PRP$ B-NP +gains NNS I-NP +by IN B-PP +an DT B-NP +inflation NN I-NP +index NN I-NP +. . O + +For IN B-PP +corporations NNS B-NP +, , O +the DT B-NP +top JJ I-NP +tax NN I-NP +rate NN I-NP +on IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +assets NNS B-NP +held VBN B-VP +for IN B-PP +more JJR B-NP +than IN I-NP +three CD I-NP +years NNS I-NP +would MD B-VP +be VB I-VP +cut VBN I-VP +to TO B-PP +33 CD B-NP +% NN I-NP +from IN B-PP +the DT B-NP +current JJ I-NP +top JJ I-NP +rate NN I-NP +of IN B-PP +34 CD B-NP +% NN I-NP +. . O + +That DT B-NP +rate NN I-NP +would MD B-VP +gradually RB I-VP +decline VB I-VP +to TO B-PP +as RB B-NP +little JJ I-NP +as IN I-NP +29 CD I-NP +% NN I-NP +for IN B-PP +corporate JJ B-NP +assets NNS I-NP +held VBN B-VP +for IN B-PP +15 CD B-NP +years NNS I-NP +. . O + +The DT B-NP +Packwood NNP I-NP +plan NN I-NP +would MD B-VP +also RB I-VP +include VB I-VP +a DT B-NP +proposal NN I-NP +, , O +designed VBN B-VP +by IN B-PP +Sen. NNP B-NP +William NNP I-NP +Roth NNP I-NP +-LRB- ( O +R. NNP B-NP +, , O +Del. NNP B-NP +-RRB- ) O +, , O +that WDT B-NP +would MD B-VP +expand VB I-VP +and CC I-VP +alter VB I-VP +the DT B-NP +deduction NN I-NP +for IN B-PP +individual JJ B-NP +retirement NN I-NP +accounts NNS I-NP +. . O + +The DT B-NP +Roth NNP I-NP +plan NN I-NP +would MD B-VP +create VB I-VP +a DT B-NP +new JJ I-NP +, , I-NP +non-deductible JJ I-NP +IRA NNP I-NP +from IN B-PP +which WDT B-NP +money NN B-NP +could MD B-VP +be VB I-VP +withdrawn VBN I-VP +tax-free JJ B-ADVP +not RB B-CONJP +only RB O +for IN B-PP +retirement NN B-NP +, , O +but CC B-CONJP +also RB I-CONJP +for IN B-PP +the DT B-NP +purchase NN I-NP +of IN B-PP +a DT B-NP +first JJ I-NP +home NN I-NP +and CC O +to TO B-VP +pay VB I-VP +education NN B-NP +and CC I-NP +medical JJ I-NP +expenses NNS I-NP +. . O + +Current JJ B-NP +IRAs NNS I-NP +could MD B-VP +be VB I-VP +rolled VBN I-VP +over IN B-ADVP +into IN B-PP +the DT B-NP +new JJ I-NP +IRAs NNS I-NP +but CC O +would MD B-VP +be VB I-VP +subject NN B-ADJP +to TO B-PP +tax VB B-NP +. . O + +For IN B-PP +their PRP$ B-NP +part NN I-NP +, , O +the DT B-NP +group NN I-NP +of IN B-PP +Democrats NNPS B-NP +are VBP B-VP +working VBG I-VP +on IN B-PP +a DT B-NP +plan NN I-NP +that IN B-NP +, , O +like IN B-PP +the DT B-NP +Packwood NNP I-NP +proposal NN I-NP +, , O +would MD B-VP +grant VB I-VP +larger JJR B-NP +exclusions NNS I-NP +to TO B-PP +assets NNS B-NP +the DT B-ADVP +longer RB I-ADVP +they PRP B-NP +were VBD B-VP +held VBN I-VP +by IN B-PP +individuals NNS B-NP +and CC I-NP +companies NNS I-NP +. . O + +Newly RB B-NP +acquired VBN I-NP +assets NNS I-NP +would MD B-VP +get VB I-VP +a DT B-NP +bigger JJR I-NP +break NN I-NP +than IN B-PP +those DT B-NP +currently RB B-VP +held VBN I-VP +. . O + +An DT B-NP +extra JJ I-NP +exclusion NN I-NP +would MD B-VP +be VB I-VP +given VBN I-VP +to TO B-PP +long-held JJ B-NP +stock NN I-NP +in IN B-PP +small JJ B-NP +and CC I-NP +medium-size JJ I-NP +corporations NNS I-NP +just RB B-VP +starting VBG I-VP +up RB B-PRT +. . O + +No DT B-NP +one CD I-NP +in IN B-PP +the DT B-NP +Senate NNP I-NP +is VBZ B-VP +considering VBG I-VP +the DT B-NP +capital-gains NNS I-NP +plan VBP I-NP +passed VBN B-VP +by IN B-PP +the DT B-NP +House NNP I-NP +. . O + +That DT B-NP +plan NN I-NP +would MD B-VP +provide VB I-VP +a DT B-NP +30 CD I-NP +% NN I-NP +exclusion NN I-NP +to TO B-PP +assets NNS B-NP +sold VBN B-VP +over IN B-PP +a DT B-NP +2 CD I-NP +1\/2-year JJ I-NP +period NN I-NP +ending VBG B-VP +Dec. NNP B-NP +31 CD I-NP +, , I-NP +1991 CD I-NP +. . O + +After IN B-PP +then RB B-NP +, , O +the DT B-NP +House NNP I-NP +measure NN I-NP +would MD B-VP +boost VB I-VP +the DT B-NP +tax NN I-NP +rate NN I-NP +to TO B-PP +28 CD B-NP +% NN I-NP +and CC O +exclude VB B-VP +from IN B-PP +tax NN B-NP +the DT B-NP +gain NN I-NP +attributable JJ B-ADJP +to TO B-PP +inflation NN B-NP +. . O + +Senators NNS B-NP +are VBP B-VP +focusing VBG I-VP +on IN B-PP +making VBG B-VP +a DT B-NP +capital-gains NNS I-NP +differential JJ I-NP +permanent JJ B-ADJP +. . O + +Separately RB B-ADVP +, , O +Chairman NNP B-NP +Dan NNP I-NP +Rostenkowski NNP I-NP +-LRB- ( O +D. NNP B-NP +, , O +Ill NNP B-NP +. . O +-RRB- ) O +of IN B-PP +the DT B-NP +House NNP I-NP +Ways NNPS I-NP +and CC I-NP +Means NNP I-NP +Committee NNP I-NP +said VBD B-VP +he PRP B-NP +did VBD B-VP +n't RB I-VP +want VB I-VP +the DT B-NP +capital-gains NNS I-NP +tax VBP I-NP +cut VB I-NP +or CC O +any DT B-NP +other JJ I-NP +amendments NNS I-NP +attached VBN B-VP +to TO B-PP +the DT B-NP +pending VBG I-NP +bill NN I-NP +raising VBG B-VP +the DT B-NP +federal JJ I-NP +borrowing NN I-NP +limit NN I-NP +. . O + +The DT B-NP +current JJ I-NP +debt NN I-NP +limit NN I-NP +expires VBZ B-VP +Oct. NNP B-NP +31 CD I-NP +. . O + +He PRP B-NP +also RB B-ADVP +urged VBD B-VP +House NNP B-NP +and CC I-NP +Senate NNP I-NP +negotiators NNS I-NP +to TO B-VP +rid VB I-VP +the DT B-NP +deficit-reduction NN I-NP +bill NN I-NP +of IN B-PP +all DT B-NP +provisions NNS I-NP +that WDT B-NP +increase VBP B-VP +the DT B-NP +budget NN I-NP +deficit NN I-NP +, , O +including VBG B-PP +the DT B-NP +House-passed JJ I-NP +capital-gains NNS I-NP +provision NN I-NP +. . O + +From IN B-PP +a DT B-NP +helicopter NN I-NP +a DT B-NP +thousand CD I-NP +feet NNS I-NP +above IN B-PP +Oakland NNP B-NP +after IN B-PP +the DT B-NP +second-deadliest JJ I-NP +earthquake NN I-NP +in IN B-PP +U.S. NNP B-NP +history NN I-NP +, , O +a DT B-NP +scene NN I-NP +of IN B-PP +devastation NN B-NP +emerges VBZ B-VP +: : O +a DT B-NP +freeway NN I-NP +crumbled VBD B-VP +into IN B-PP +a DT B-NP +concrete JJ I-NP +sandwich NN I-NP +, , O +hoses NNS B-NP +pumping VBG B-VP +water NN B-NP +into IN B-PP +once-fashionable JJ B-NP +apartments NNS I-NP +, , O +abandoned VBN B-NP +autos NNS I-NP +. . O + +But CC O +this DT B-NP +quake NN I-NP +was VBD B-VP +n't RB O +the DT B-NP +big JJ I-NP +one CD I-NP +, , O +the DT B-NP +replay NN I-NP +of IN B-PP +1906 CD B-NP +that WDT B-NP +has VBZ B-VP +been VBN I-VP +feared VBN I-VP +for IN B-PP +so RB B-NP +many JJ I-NP +years NNS I-NP +. . O + +Despite IN B-PP +the DT B-NP +tragic JJ I-NP +loss NN I-NP +of IN B-PP +more JJR B-NP +than IN I-NP +270 CD I-NP +lives NNS I-NP +, , O +and CC O +damage NN B-NP +estimated VBN B-VP +in IN B-PP +the DT B-NP +billions NNS I-NP +, , O +most RBS B-NP +businesses NNS I-NP +and CC O +their PRP$ B-NP +plants NNS I-NP +and CC I-NP +offices NNS I-NP +in IN B-PP +the DT B-NP +Bay NNP I-NP +area NN I-NP +were VBD B-VP +n't RB I-VP +greatly RB I-VP +affected VBN I-VP +. . O + +The DT B-NP +economic JJ I-NP +life NN I-NP +of IN B-PP +the DT B-NP +region NN I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +revive VB I-VP +in IN B-PP +a DT B-NP +day NN I-NP +or CC I-NP +two CD I-NP +, , O +although IN B-SBAR +some DT B-NP +transportation NN I-NP +problems NNS I-NP +may MD B-VP +last VB I-VP +weeks NNS B-NP +or CC I-NP +months NNS I-NP +. . O + +A DT B-NP +main JJ I-NP +factor NN I-NP +mitigating VBG B-VP +more RBR B-NP +widespread JJ I-NP +damage NN I-NP +was VBD B-VP +the DT B-NP +location NN I-NP +of IN B-PP +the DT B-NP +quake NN I-NP +'s POS B-NP +epicenter NN I-NP +-- : O +20 CD B-NP +miles NNS I-NP +from IN B-PP +the DT B-NP +heart NN I-NP +of IN B-PP +the DT B-NP +Silicon NNP I-NP +Valley NNP I-NP +and CC B-PP +more JJR B-NP +than IN I-NP +50 CD I-NP +miles NNS I-NP +from IN B-PP +downtown NN B-NP +San NNP I-NP +Francisco NNP I-NP +and CC O +Oakland NNP B-NP +. . O + +Also RB B-ADVP +, , O +the DT B-NP +region NN I-NP +'s POS B-NP +insistence NN I-NP +on IN B-PP +strict JJ B-NP +building NN I-NP +codes NNS I-NP +helped VBD B-VP +prevent VB I-VP +wider JJR B-NP +damage NN I-NP +. . O + +The DT B-NP +tremendous JJ I-NP +energy NN I-NP +of IN B-PP +the DT B-NP +quake NN I-NP +was VBD B-VP +dissipated VBN I-VP +by IN B-PP +the DT B-NP +distance NN I-NP +, , O +so RB B-SBAR +that IN I-SBAR +most RBS B-NP +parts NNS I-NP +of IN B-PP +the DT B-NP +valley NN I-NP +and CC O +the DT B-NP +major JJ I-NP +cities NNS I-NP +suffered VBD B-VP +largely RB B-NP +cosmetic JJ I-NP +damage NN I-NP +-- : O +broken VBN B-NP +windows NNS I-NP +, , O +falling VBG B-NP +brick NN I-NP +and CC I-NP +cornices NNS I-NP +, , O +buckled VBD B-NP +asphalt NN I-NP +or CC I-NP +sidewalks NNS I-NP +. . O + +Of IN B-PP +course NN B-NP +, , O +the DT B-NP +quake NN I-NP +was VBD B-VP +the DT B-NP +worst JJS I-NP +since IN B-SBAR +the DT B-NP +emergence NN I-NP +of IN B-PP +the DT B-NP +computer NN I-NP +era NN I-NP +turned VBD B-VP +Silicon NNP B-NP +Valley NNP I-NP +into IN B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +capital NN I-NP +of IN B-PP +high JJ B-NP +technology NN I-NP +. . O + +Like IN B-PP +other JJ B-NP +major JJ I-NP +American JJ I-NP +cities NNS I-NP +, , O +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +-- : I-NP +Oakland NNP I-NP +area NN I-NP +owes VBZ B-VP +its PRP$ B-NP +current JJ I-NP +prosperity NN I-NP +more JJR B-ADVP +to TO B-PP +its PRP$ B-NP +infrastructure NN I-NP +of IN B-PP +fiber-optic JJ B-NP +cables NNS I-NP +linking VBG B-VP +thousands NNS B-NP +of IN B-PP +computer NN B-NP +terminals NNS I-NP +and CC O +telephones NNS B-NP +than IN B-PP +to TO B-PP +its PRP$ B-NP +location NN I-NP +astride IN B-PP +one CD B-NP +of IN B-PP +the DT B-NP +world NN I-NP +'s POS B-NP +great JJ I-NP +natural JJ I-NP +harbors NNS I-NP +. . O + +When WRB B-ADVP +the DT B-NP +tremors NNS I-NP +struck VBD B-VP +, , O +the DT B-NP +region NN I-NP +'s POS B-NP +largely RB B-ADJP +unseen JJ I-ADJP +high-tech JJ B-NP +fabric NN I-NP +held VBN B-VP +up IN B-PRT +surprisingly RB B-ADVP +well RB I-ADVP +despite IN B-PP +the DT B-NP +devastation NN I-NP +visible JJ B-ADJP +from IN B-PP +the DT B-NP +air NN I-NP +. . O + +Michael NNP B-NP +L. NNP I-NP +Bandler NNP I-NP +, , O +vice NN B-NP +president NN I-NP +for IN B-PP +network NN B-NP +technology NN I-NP +at IN B-PP +Pacific NNP B-NP +Bell NNP I-NP +Telephone NNP I-NP +Co. NNP I-NP +, , O +says VBZ B-VP +nearly RB O +all PDT O +the DT B-NP +network NN I-NP +'s POS B-NP +computer NN I-NP +switches NNS I-NP +, , O +which WDT B-NP +move VBP B-VP +thousands NNS B-NP +of IN B-PP +calls VBZ B-NP +a DT B-NP +minute NN I-NP +from IN B-PP +one CD B-NP +location NN I-NP +to TO B-PP +another DT B-NP +, , O +changed VBN B-VP +to TO B-PP +battery NN B-NP +power NN I-NP +when WRB B-ADVP +the DT B-NP +city NN I-NP +lost VBD B-VP +power NN B-NP +. . O + +The DT B-NP +battery NN I-NP +packs NNS I-NP +have VBP B-VP +enough JJ B-NP +power NN I-NP +for IN B-PP +only RB B-NP +three CD I-NP +hours NNS I-NP +, , O +but CC O +that DT B-NP +gave VBD B-VP +emergency NN B-NP +crews NNS I-NP +time NN B-NP +to TO B-VP +turn VB I-VP +on IN B-PRT +an DT B-NP +emergency NN I-NP +system NN I-NP +that WDT B-NP +runs VBZ B-VP +primarily RB B-ADVP +on IN B-PP +diesel NN B-NP +fuel NN I-NP +. . O + +Of IN B-PP +some DT B-NP +160 CD I-NP +switches NNS I-NP +in IN B-PP +Pacific NNP B-NP +Bell NNP I-NP +'s POS B-NP +network NN I-NP +, , O +only RB B-NP +four CD I-NP +went VBD B-VP +down RB B-ADVP +. . O + +One CD B-NP +of IN B-PP +those DT B-NP +was VBD B-VP +in IN B-PP +Hollister NNP B-NP +, , O +Calif. NNP B-NP +, , O +near IN B-PP +the DT B-NP +earthquake NN I-NP +'s POS B-NP +epicenter NN I-NP +. . O + +Few JJ B-NP +telephone NN I-NP +lines NNS I-NP +snapped VBD B-VP +. . O + +That DT B-NP +'s VBZ B-VP +because IN B-SBAR +the DT B-NP +widely RB I-NP +used VBN I-NP +fiber-optic JJ I-NP +cable NN I-NP +has VBZ B-VP +been VBN I-VP +installed VBN I-VP +underground JJ B-ADVP +with IN B-PP +25 CD B-NP +extra JJ I-NP +feet NNS I-NP +of IN B-PP +cable NN B-NP +between IN B-PP +junction NN B-NP +points NNS I-NP +. . O + +The DT B-NP +slack NN I-NP +absorbs VBZ B-VP +the DT B-NP +pulling VBG I-NP +strain NN I-NP +generated VBN B-VP +by IN B-PP +an DT B-NP +earthquake NN I-NP +. . O + +Nevertheless RB B-ADVP +, , O +phone NN B-NP +service NN I-NP +was VBD B-VP +sporadic JJ B-ADJP +; : O +many JJ B-NP +computer NN I-NP +terminals NNS I-NP +remained VBD B-VP +dark JJ B-ADJP +, , O +and CC O +by IN B-PP +late JJ B-NP +yesterday NN I-NP +a DT B-NP +third JJ I-NP +of IN B-PP +San NNP B-NP +Francisco NNP I-NP +remained VBD B-VP +without IN B-PP +power NN B-NP +. . O + +Business NN B-NP +in IN B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +fourth-largest JJ I-NP +metropolitan JJ I-NP +region NN I-NP +was VBD B-VP +nearly RB I-VP +paralyzed VBN I-VP +; : O +an DT B-NP +estimated VBN I-NP +one CD I-NP +million CD I-NP +members NNS I-NP +of IN B-PP +the DT B-NP +work NN I-NP +force NN I-NP +stayed VBD B-VP +at IN B-PP +home NN B-NP +. . O + +The DT B-NP +economic JJ I-NP +dislocation NN I-NP +was VBD B-VP +as RB B-ADJP +abrupt JJ I-ADJP +as IN B-PP +the DT B-NP +earthquake NN I-NP +itself PRP B-NP +, , O +as IN B-SBAR +virtually RB B-NP +all DT I-NP +businesses NNS I-NP +shut VBN B-VP +down RB B-PRT +. . O + +The DT B-NP +$ $ I-NP +125-billion-a-year NNP I-NP +Bay NNP I-NP +area NN I-NP +economy NN I-NP +represents VBZ B-VP +one-fourth NN B-NP +of IN B-PP +the DT B-NP +economy NN I-NP +of IN B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +most RBS B-ADJP +populous JJ I-ADJP +state NN B-NP +and CC O +accounts NNS B-VP +for IN B-PP +2 CD B-NP +% NN I-NP +to TO O +3 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +nation NN I-NP +'s POS B-NP +total JJ I-NP +output NN I-NP +of IN B-PP +goods NNS B-NP +and CC I-NP +services NNS I-NP +, , O +according VBG B-PP +to TO B-PP +the DT B-NP +Center NNP I-NP +for IN B-PP +Continuing VBG B-NP +Study NNP I-NP +of IN B-PP +the DT B-NP +California NNP I-NP +Economy NNP I-NP +in IN B-PP +Palo NNP B-NP +Alto NNP I-NP +. . O + +In IN B-PP +high-tech JJ B-NP +, , O +the DT B-NP +Bay NNP I-NP +area NN I-NP +accounts NNS B-VP +for IN B-PP +15 CD B-NP +% NN I-NP +to TO O +20 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +U.S. NNP I-NP +computer-related JJ I-NP +industry NN I-NP +. . O + +`` `` O +This DT B-NP +has VBZ B-VP +been VBN I-VP +a DT B-NP +major JJ I-NP +disruption NN I-NP +for IN B-PP +the DT B-NP +Bay NNP I-NP +area NN I-NP +economy NN I-NP +, , O +'' '' O +says VBZ B-VP +Pauline NNP B-NP +Sweezey NNP I-NP +, , O +the DT B-NP +chief JJ I-NP +economist NN I-NP +at IN B-PP +the DT B-NP +California NNP I-NP +Department NNP I-NP +of IN B-PP +Finance NNP B-NP +. . O + +`` `` O +Obviously RB B-ADVP +, , O +things NNS B-NP +are VBP B-VP +going VBG I-VP +to TO I-VP +have VB I-VP +to TO I-VP +go VB I-VP +on IN B-PP +hold NN B-NP +for IN B-PP +many JJ B-NP +companies NNS I-NP +. . O +'' '' O + +The DT B-NP +damage NN I-NP +to TO B-PP +the DT B-NP +Bay NNP I-NP +area NN I-NP +'s POS B-NP +roadways NNS I-NP +could MD B-VP +cause VB I-VP +significant JJ B-NP +economic JJ I-NP +hardship NN I-NP +. . O + +A DT B-NP +quarter NN I-NP +of IN I-NP +a DT I-NP +million CD I-NP +people NNS I-NP +cross VBP B-VP +the DT B-NP +Bay NNP I-NP +Bridge NNP I-NP +every DT B-NP +day NN I-NP +, , O +far RB B-ADJP +more JJR I-ADJP +than IN B-PP +the DT B-NP +100,000 CD I-NP +that DT B-NP +use NN B-VP +the DT B-NP +Bay NNP I-NP +Area NNP I-NP +Rapid NNP I-NP +Transit NNP I-NP +system NN I-NP +-LRB- ( O +BART NNP B-NP +-RRB- ) O +-- : O +which WDT B-NP +was VBD B-VP +working VBG I-VP +but CC O +was VBD B-VP +n't RB I-VP +stopping VBG I-VP +in IN B-PP +the DT B-NP +city NN I-NP +'s POS B-NP +Financial NNP I-NP +District NNP I-NP +yesterday NN B-NP +afternoon NN I-NP +because IN B-SBAR +electricity NN B-NP +was VBD B-VP +shut VBN I-VP +off IN B-PRT +and CC O +the DT B-NP +area NN I-NP +was VBD B-VP +being VBG I-VP +checked VBN I-VP +for IN B-PP +gas NN B-NP +leaks NNS I-NP +. . O + +California JJ B-NP +state NN I-NP +transportation NN I-NP +officials NNS I-NP +interviewed VBN B-VP +by IN B-PP +telephone NN B-NP +say VBP B-VP +they PRP B-NP +nevertheless RB B-ADVP +do VBP B-VP +n't RB I-VP +expect VB I-VP +serious JJ B-NP +problems NNS I-NP +for IN B-PP +commerce NN B-NP +in IN B-PP +and CC B-PP +out IN B-PP +of IN B-PP +the DT B-NP +Bay NNP I-NP +area NN I-NP +. . O + +All DT B-NP +major JJ I-NP +roadways NNS I-NP +except IN B-PP +Interstate NNP B-NP +880 CD I-NP +, , O +known VBN B-VP +as IN B-PP +the DT B-NP +Nimitz NNP I-NP +Freeway NNP I-NP +, , O +and CC O +the DT B-NP +Bay NNP I-NP +Bridge NNP I-NP +were VBD B-VP +open JJ B-ADJP +by IN B-PP +1 CD B-NP +p.m. NN I-NP +yesterday NN B-NP +. . O + +Officials NNS B-NP +expect VBP B-VP +difficulty NN B-NP +routing VBG B-VP +traffic NN B-NP +through IN B-PP +downtown NN B-NP +San NNP I-NP +Francisco NNP I-NP +. . O + +The DT B-NP +earthquake NN I-NP +caused VBD B-VP +many JJ B-NP +streets NNS I-NP +to TO B-VP +buckle VB I-VP +and CC I-VP +crack NN I-VP +, , O +making VBG B-VP +them PRP B-NP +impassible JJ B-ADJP +. . O + +Other JJ B-NP +roads NNS I-NP +were VBD B-VP +obstructed VBN I-VP +by IN B-PP +collapsed JJ B-NP +buildings NNS I-NP +and CC O +damaged VBN B-NP +water NN I-NP +and CC I-NP +power NN I-NP +lines NNS I-NP +, , O +an DT B-NP +emergency NN I-NP +relief NN I-NP +spokesman NN I-NP +says NNS B-VP +. . O + +San NNP B-NP +Francisco NNP I-NP +Mayor NNP I-NP +Art NNP I-NP +Agnos NNP I-NP +estimated VBD B-VP +the DT B-NP +damage NN I-NP +to TO B-PP +his PRP$ B-NP +city NN I-NP +alone RB B-ADVP +at IN B-PP +$ $ B-NP +2 CD I-NP +billion CD I-NP +. . O + +But CC O +many NN B-NP +predicted VBD B-VP +that IN B-SBAR +the DT B-NP +commercial JJ I-NP +disruption NN I-NP +would MD B-VP +be VB I-VP +short-lived JJ B-ADJP +. . O + +Of IN B-PP +the DT B-NP +scores NNS I-NP +of IN B-PP +companies NNS B-NP +contacted VBN B-VP +by IN B-PP +this DT B-NP +newspaper NN I-NP +, , O +few NN B-NP +reported VBD B-VP +any DT B-NP +damage NN I-NP +that IN B-NP +they PRP B-NP +did VBD B-VP +n't RB I-VP +expect VB I-VP +to TO I-VP +have VB I-VP +remedied VBN I-VP +within IN B-PP +a DT B-NP +day NN I-NP +or CC I-NP +two CD I-NP +. . O + +It PRP B-NP +is VBZ B-VP +possible JJ B-ADJP +, , O +of IN B-PP +course NN B-NP +, , O +that IN B-SBAR +some DT B-NP +of IN B-PP +the DT O +most RBS B-ADVP +seriously RB I-ADVP +damaged VBN B-NP +companies NNS I-NP +could MD B-VP +n't RB I-VP +be VB I-VP +reached VBN I-VP +, , O +particularly RB B-ADVP +in IN B-PP +areas NNS B-NP +nearest JJS B-PP +the DT B-NP +epicenter NN I-NP +. . O + +Typical JJ B-ADJP +, , O +perhaps RB B-ADVP +, , O +was VBD B-VP +the DT B-NP +situation NN I-NP +at IN B-PP +New NNP B-NP +United NNP I-NP +Motor NNP I-NP +Manufacturing NNP I-NP +Inc. NNP I-NP +, , O +the DT B-NP +General NNP I-NP +Motors NNPS I-NP +Corp.-Toyota JJ I-NP +joint-venture JJ I-NP +auto NN I-NP +plant NN I-NP +in IN B-PP +Fremont NNP B-NP +, , O +about IN B-NP +35 CD I-NP +miles NNS I-NP +south RB B-ADVP +of IN B-PP +Oakland NNP B-NP +. . O + +Ten CD B-NP +of IN B-PP +the DT B-NP +plant NN I-NP +'s POS B-NP +workers NNS I-NP +were VBD B-VP +injured VBN I-VP +when WRB B-ADVP +the DT B-NP +quake NN I-NP +hit VBD B-VP +about IN B-NP +a DT I-NP +half-hour NN I-NP +into IN B-PP +the DT B-NP +afternoon NN I-NP +shift NN I-NP +; : O +seven CD B-NP +were VBD B-VP +hospitalized VBN I-VP +. . O + +Metal NN B-NP +racks NNS I-NP +on IN B-PP +the DT B-NP +plant NN I-NP +floor NN I-NP +fell VBD B-VP +over IN B-ADVP +, , O +and CC O +water NN B-NP +mains NNS I-NP +ruptured VBN B-VP +, , O +a DT B-NP +spokeswoman NN I-NP +says NNS B-VP +. . O + +The DT B-NP +plant NN I-NP +was VBD B-VP +evacuated VBN I-VP +and CC O +workers NNS B-NP +sent VBD B-VP +home NN B-ADVP +. . O + +But CC O +the DT B-NP +plant NN I-NP +was VBD B-VP +able JJ B-ADJP +to TO B-VP +resume VB I-VP +limited JJ B-NP +production NN I-NP +of IN B-PP +its PRP$ B-NP +Toyota NNP I-NP +Corollas NNPS I-NP +and CC I-NP +Geo NNP I-NP +Prizms NNPS I-NP +by IN B-PP +6 CD B-NP +a.m. NN I-NP +yesterday NN B-NP +, , O +and CC O +absenteeism NN B-NP +was VBD B-VP +only RB B-NP +7 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +work NN I-NP +force NN I-NP +, , O +about IN B-ADJP +twice RB I-ADJP +normal JJ I-ADJP +. . O + +Computer NN B-NP +maker NN I-NP +Hewlett-Packard NNP I-NP +Co. NNP I-NP +, , O +based VBN B-VP +in IN B-PP +Palo NNP B-NP +Alto NNP I-NP +, , O +says VBZ B-VP +one CD B-NP +of IN B-PP +its PRP$ B-NP +buildings NNS I-NP +sustained VBD B-VP +severe JJ B-NP +damage NN I-NP +when WRB B-ADVP +it PRP B-NP +was VBD B-VP +knocked VBN I-VP +off IN B-PP +its PRP$ B-NP +foundation NN I-NP +. . O + +Other JJ B-NP +buildings NNS I-NP +had VBD B-VP +broken VBN B-NP +glass NN I-NP +, , O +dangling VBG B-NP +light NN I-NP +fixtures NNS I-NP +and CC O +broken VBN B-NP +pipes NNS I-NP +, , O +a DT B-NP +spokesperson NN I-NP +says VBZ B-VP +, , O +estimating VBG B-VP +the DT B-NP +cost NN I-NP +of IN B-PP +reconstruction NN B-NP +`` `` O +in IN B-PP +the DT B-NP +millions NNS I-NP +. . O +'' '' O + +Most JJS B-NP +banks NNS I-NP +were VBD B-VP +closed VBN B-ADJP +but CC O +were VBD B-VP +expected VBN I-VP +to TO I-VP +reopen VB I-VP +today NN B-NP +with IN B-SBAR +few JJ B-NP +problems NNS I-NP +anticipated VBN B-VP +. . O + +At IN B-PP +the DT B-NP +Federal NNP I-NP +Reserve NNP I-NP +Bank NNP I-NP +of IN B-PP +San NNP B-NP +Francisco NNP I-NP +, , O +Vice NNP B-NP +President NNP I-NP +Robert NNP I-NP +Fienberg NNP I-NP +says VBZ B-VP +operations NNS B-NP +were VBD B-VP +`` `` O +steaming VBG B-VP +along IN B-ADVP +as IN B-PP +usual JJ B-ADJP +'' '' O +yesterday NN B-NP +afternoon NN I-NP +. . O + +` `` O +When WRB B-ADVP +the DT B-NP +quake NN I-NP +hit VBD B-VP +, , O +we PRP B-NP +turned VBD B-VP +on IN B-PRT +our PRP$ B-NP +emergency NN I-NP +generator NN I-NP +and CC O +brought VBN B-VP +our PRP$ B-NP +computers NNS I-NP +up IN B-PRT +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +The DT B-NP +Fed NNP I-NP +serves VBZ B-VP +as IN B-PP +a DT B-NP +middleman NN I-NP +for IN B-PP +banks NNS B-NP +, , O +taking VBG B-VP +checks NNS B-NP +from IN B-PP +one CD B-NP +bank NN I-NP +and CC O +sending VBG B-VP +them PRP B-NP +to TO B-PP +another DT B-NP +, , O +an DT B-NP +operation NN I-NP +that IN B-NP +it PRP B-NP +handled VBD B-VP +smoothly RB B-ADVP +Tuesday NNP B-NP +night NN I-NP +after IN B-PP +the DT B-NP +quake NN I-NP +. . O + +`` `` O +The DT B-NP +volume NN I-NP +we PRP B-NP +received VBD B-VP +from IN B-PP +the DT B-NP +banks NNS I-NP +was VBD B-VP +a DT B-NP +lot NN I-NP +lower JJR B-ADJP +than IN B-PP +usual JJ B-ADJP +, , O +'' '' O +he PRP B-NP +says VBZ B-VP +. . O + +A DT B-NP +disaster-contingency NN I-NP +plan NN I-NP +in IN B-PP +which WDT B-NP +the DT B-NP +Los NNP I-NP +Angeles NNP I-NP +Fed NNP I-NP +would MD B-VP +come VB I-VP +to TO B-PP +San NNP B-NP +Francisco NNP I-NP +'s POS B-NP +aid NN I-NP +was VBD B-VP +n't RB I-VP +needed VBN I-VP +, , O +he PRP B-NP +adds VBZ B-VP +. . O + +Most JJS B-NP +of IN B-PP +the DT B-NP +telephone NN I-NP +problems NNS I-NP +in IN B-PP +the DT B-NP +immediate JJ I-NP +aftermath NN I-NP +stemmed VBD B-VP +from IN B-PP +congestion NN B-NP +. . O + +The DT B-NP +telephone NN I-NP +network NN I-NP +simply RB B-ADVP +could MD B-VP +n't RB I-VP +handle VB I-VP +the DT B-NP +large JJ I-NP +number NN I-NP +of IN B-PP +people NNS B-NP +seeking VBG B-VP +to TO I-VP +make VB I-VP +a DT B-NP +call NN I-NP +at IN B-PP +the DT B-NP +same JJ I-NP +time NN I-NP +. . O + +The DT B-NP +volume NN I-NP +resulted VBD B-VP +in IN B-PP +dial-tone NN B-NP +delays NNS I-NP +that WDT B-NP +were VBD B-VP +as RB B-ADJP +short JJ I-ADJP +as IN B-PP +15 CD B-NP +seconds NNS I-NP +and CC O +as RB B-ADJP +long RB I-ADJP +as IN B-PP +five CD B-NP +minutes NNS I-NP +. . O + +Mr. NNP B-NP +Bandler NNP I-NP +puts VBZ B-VP +traffic NN B-NP +volume NN I-NP +at IN B-PP +10 CD B-NP +to TO I-NP +50 CD I-NP +times NNS I-NP +normal JJ I-NP +. . O + +American NNP B-NP +Telephone NNP I-NP +& CC I-NP +Telegraph NNP I-NP +Co. NNP I-NP +, , O +MCI NNP B-NP +Communications NNP I-NP +Inc. NNP I-NP +and CC O +United NNP B-NP +Telecommunications NNP I-NP +' POS B-NP +U NNP I-NP +S NNP I-NP +Sprint NNP I-NP +unit NN I-NP +were VBD B-VP +blocking VBG I-VP +phone NN B-NP +calls NNS I-NP +into IN B-PP +the DT B-NP +Bay NNP I-NP +area NN I-NP +to TO B-VP +alleviate VB I-VP +congestion NN B-NP +. . O + +The DT B-NP +companies NNS I-NP +block VBP B-VP +traffic NN B-NP +much JJ B-SBAR +as IN I-SBAR +highway NN B-NP +on-ramps NNS I-NP +are VBP B-VP +blocked VBN I-VP +when WRB B-ADVP +traffic NN B-NP +backs NNS B-VP +up RB B-PRT +. . O + +William NNP B-NP +E. NNP I-NP +Downing NNP I-NP +, , O +Pacific NNP B-NP +Bell NNP I-NP +'s POS B-NP +vice NN I-NP +president NN I-NP +of IN B-PP +customer NN B-NP +services NNS I-NP +for IN B-PP +the DT B-NP +Bay NNP I-NP +area NN I-NP +, , O +says VBZ B-VP +most RBS B-NP +long-distance JJ I-NP +companies NNS I-NP +were VBD B-VP +blocking VBG I-VP +about IN B-NP +50 CD I-NP +% NN I-NP +of IN B-PP +all DT B-NP +calls VBZ I-NP +. . O + +Pacific NNP B-NP +Telesis NNP I-NP +says VBZ B-VP +its PRP$ B-NP +Pacific NNP I-NP +Bell NNP I-NP +unit NN I-NP +also RB B-ADVP +was VBD B-VP +blocking VBG I-VP +about IN B-NP +50 CD I-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +calls NNS I-NP +locally RB B-ADVP +. . O + +Ironically RB B-ADVP +, , O +the DT B-NP +long-term JJ I-NP +effect NN I-NP +of IN B-PP +the DT B-NP +earthquake NN I-NP +may MD B-VP +be VB I-VP +to TO B-VP +bolster VB I-VP +the DT B-NP +Bay NNP I-NP +area NN I-NP +'s POS B-NP +economic JJ I-NP +fortunes NNS I-NP +and CC O +, , O +indeed RB B-ADVP +, , O +the DT B-NP +nation NN I-NP +'s POS B-NP +gross JJ I-NP +national JJ I-NP +product NN I-NP +. . O + +It PRP B-NP +may MD B-VP +also RB I-VP +lead VB I-VP +to TO B-PP +new JJ B-NP +safeguards NNS I-NP +in IN B-PP +major JJ B-NP +construction NN I-NP +projects NNS I-NP +such JJ B-PP +as IN I-PP +double-deck JJ B-NP +highways NNS I-NP +. . O + +`` `` O +It PRP B-NP +would MD B-VP +in IN B-PP +the DT B-NP +near-term JJ I-NP +give NN B-VP +a DT B-NP +boost NN I-NP +to TO B-PP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +economy NN I-NP +because IN B-SBAR +there EX B-NP +will MD B-VP +be VB I-VP +an DT B-NP +influx NN I-NP +of IN B-PP +people NNS B-NP +to TO B-VP +help VB I-VP +, , O +'' '' O +says VBZ B-VP +Beth NNP B-NP +Burnham NNP I-NP +Mace NNP I-NP +, , O +a DT B-NP +regional JJ I-NP +economist NN I-NP +at IN B-PP +DRI\/McGraw NNP B-NP +Hill NNP I-NP +, , O +a DT B-NP +Lexington NNP I-NP +, , I-NP +Mass. NNP I-NP +, , I-NP +forecasting NN I-NP +firm NN I-NP +. . O + +The DT B-NP +construction NN I-NP +industry NN I-NP +is VBZ B-VP +sure JJ B-ADJP +to TO B-VP +feel VB I-VP +increased VBN B-NP +demand NN I-NP +. . O + +`` `` O +There EX B-NP +will MD B-VP +be VB I-VP +a DT B-NP +big JJ I-NP +influx NN I-NP +of IN B-PP +federal JJ B-NP +dollars NNS I-NP +and CC O +gains NNS B-NP +in IN B-PP +state NN B-NP +, , I-NP +federal JJ I-NP +and CC I-NP +local JJ I-NP +employment NN I-NP +, , O +'' '' O +Ms. NNP B-NP +Mace NNP I-NP +says VBZ B-VP +. . O + +Adds VBZ B-VP +Stacy NNP B-NP +Kotman NNP I-NP +, , O +an DT B-NP +economist NN I-NP +at IN B-PP +Georgia NNP B-NP +State NNP I-NP +University NNP I-NP +, , O +`` `` O +There EX B-NP +'s VBZ B-VP +nothing NN B-NP +positive JJ B-ADJP +about IN B-PP +an DT B-NP +earthquake NN I-NP +, , O +but CC O +it PRP B-NP +will MD B-VP +probably RB I-VP +generate VB I-VP +more JJR B-NP +construction NN I-NP +activity NN I-NP +. . O +'' '' O + +Wall NNP B-NP +Street NNP I-NP +reacted VBD B-VP +swiftly RB B-ADVP +yesterday NN B-NP +to TO B-PP +the DT B-NP +disaster NN I-NP +by IN B-PP +bidding NN B-VP +up IN B-ADVP +stocks NNS B-NP +of IN B-PP +construction NN B-NP +and CC I-NP +related VBN I-NP +companies NNS I-NP +. . O + +Shares NNS B-NP +of IN B-PP +Lone NNP B-NP +Star NNP I-NP +Industries NNP I-NP +Inc. NNP I-NP +, , O +a DT B-NP +cement NN I-NP +maker NN I-NP +, , O +rose VBD B-VP +sharply RB B-ADVP +in IN B-PP +anticipation NN B-NP +of IN B-PP +stepped-up JJ B-NP +demand NN I-NP +. . O + +In IN B-PP +Greenwich NNP B-NP +, , O +Conn. NNP B-NP +, , O +Lone NNP B-NP +Star NNP I-NP +spokesman NN I-NP +Michael NNP I-NP +London NNP I-NP +says VBZ B-VP +, , O +`` `` O +Obviously RB B-ADVP +with IN B-PP +an DT B-NP +earthquake NN I-NP +of IN B-PP +this DT B-NP +size NN I-NP +, , O +there EX B-NP +are VBP B-VP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +construction NN B-NP +projects NNS I-NP +that WDT B-NP +would MD B-VP +n't RB I-VP +otherwise RB I-VP +have VB I-VP +been VBN I-VP +anticipated VBN I-VP +. . O + +But CC O +any DT B-NP +increase NN I-NP +is VBZ B-VP +n't RB O +likely JJ B-ADJP +to TO B-VP +be VB I-VP +any DT B-NP +kind NN I-NP +of IN B-PP +a DT B-NP +surge NN I-NP +. . O + +It PRP B-NP +'s VBZ B-VP +something NN B-NP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +spread VBN I-VP +out IN B-ADVP +over IN B-PP +a DT B-NP +long JJ I-NP +period NN I-NP +of IN B-PP +time NN B-NP +. . O + +There EX B-NP +will MD B-VP +be VB I-VP +a DT B-NP +lot NN I-NP +of IN B-PP +repair NN B-NP +work NN I-NP +that WDT B-NP +wo MD B-VP +n't RB I-VP +require VB I-VP +the DT B-NP +quantities NNS I-NP +of IN B-PP +cement NN B-NP +or CC I-NP +concrete JJ I-NP +that IN B-NP +new JJ B-NP +constructon NN I-NP +would MD B-VP +. . O +'' '' O + +Lone NNP B-NP +Star NNP I-NP +'s POS B-NP +San NNP I-NP +Francisco NNP I-NP +facilities NNS I-NP +were VBD B-VP +n't RB I-VP +damaged VBN I-VP +in IN B-PP +the DT B-NP +quake NN I-NP +. . O + +The DT B-NP +earthquake NN I-NP +is VBZ B-VP +likely JJ B-ADJP +to TO B-VP +reduce VB I-VP +GNP NNP B-NP +negligibly RB B-ADVP +in IN B-PP +the DT B-NP +near JJ I-NP +term NN I-NP +and CC O +then RB O +could MD B-VP +raise VB I-VP +it PRP B-NP +a DT B-NP +bit NN I-NP +as IN B-SBAR +rebuilding VBG B-NP +begins VBZ B-VP +. . O + +The DT B-NP +first JJ I-NP +effects NNS I-NP +are VBP B-VP +, , O +of IN B-PP +course NN B-NP +, , O +negative JJ B-ADJP +as IN B-SBAR +work NN B-NP +is VBZ B-VP +disrupted VBN I-VP +and CC O +people NNS B-NP +lose VBP B-VP +income NN B-NP +and CC O +cut VB B-VP +spending NN B-NP +. . O + +Corporate JJ B-NP +profits NNS I-NP +may MD B-VP +also RB I-VP +dip VB I-VP +initially RB B-ADVP +. . O + +Many JJ B-NP +of IN B-PP +the DT B-NP +lost VBN I-NP +tourism NN I-NP +dollars NNS I-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +recovered VBN I-VP +; : O +many JJ B-NP +trips NNS I-NP +delayed VBN B-VP +never RB B-ADVP +take VB B-VP +place NN B-NP +. . O + +Subsequently RB B-ADVP +, , O +however RB B-ADVP +, , O +the DT B-NP +ill JJ I-NP +effects NNS I-NP +are VBP B-VP +likely JJ B-ADJP +to TO B-VP +be VB I-VP +offset VB I-VP +, , O +at IN B-ADVP +least JJS I-ADVP +in IN B-PP +economic JJ B-NP +terms NNS I-NP +, , O +as IN B-SBAR +construction NN B-NP +activity NN I-NP +begins VBZ B-VP +. . O + +Because IN B-PP +of IN I-PP +the DT B-NP +way NN I-NP +the DT B-NP +government NN I-NP +keeps VBZ B-VP +its PRP$ B-NP +books NNS I-NP +, , O +the DT B-NP +damage NN I-NP +to TO B-PP +the DT B-NP +Bay NNP I-NP +Bridge NNP I-NP +, , O +however RB B-ADJP +costly JJ I-ADJP +, , O +wo MD B-VP +n't RB I-VP +be VB I-VP +counted VBN I-VP +as IN B-PP +a DT B-NP +minus CC I-NP +. . O + +The DT B-NP +money NN I-NP +spent VBD B-VP +on IN B-PP +repairs NNS B-NP +will MD B-VP +be VB I-VP +counted VBN I-VP +as IN B-PP +a DT B-NP +plus CC I-NP +. . O + +`` `` O +It PRP B-NP +'s VBZ B-VP +very RB B-ADJP +difficult JJ I-ADJP +to TO B-VP +model VB I-VP +the DT B-NP +long-term JJ I-NP +impact NN I-NP +of IN B-PP +this DT B-NP +, , O +'' '' O +says VBZ B-VP +Andrew NNP B-NP +Goldberg NNP I-NP +, , O +who WP B-NP +studies VBZ B-VP +the DT B-NP +public-policy NN I-NP +and CC I-NP +crisis-management JJ I-NP +aspects NNS I-NP +of IN B-PP +earthquakes NNS B-NP +at IN B-PP +the DT B-NP +Center NNP I-NP +for IN B-PP +Strategic NNP B-NP +International NNP I-NP +Studies NNS I-NP +in IN B-PP +Washington NNP B-NP +, , O +D.C NNP B-NP +. . O + +`` `` O +You PRP B-NP +certainly RB B-ADVP +can MD B-VP +say VB I-VP +it PRP B-NP +'s VBZ B-VP +going VBG I-VP +to TO I-VP +be VB I-VP +extremely RB B-ADJP +severe JJ I-ADJP +. . O + +We PRP B-NP +really RB B-ADVP +are VBP B-VP +talking VBG I-VP +about IN B-PP +shutting VBG B-VP +down RP B-PRT +a DT B-NP +major JJ I-NP +American JJ I-NP +city NN I-NP +for IN B-PP +a DT B-NP +number NN I-NP +of IN B-PP +days NNS B-NP +, , O +maybe RB B-ADVP +for IN B-PP +a DT B-NP +few JJ I-NP +weeks NNS I-NP +. . O +'' '' O + +Mr. NNP B-NP +Goldberg NNP I-NP +says VBZ B-VP +the DT B-NP +cost NN I-NP +of IN B-PP +the DT B-NP +earthquake NN I-NP +will MD B-VP +definitely RB I-VP +top JJ I-VP +$ $ B-NP +1 CD I-NP +billion CD I-NP +and CC O +could MD B-VP +reach VB I-VP +$ $ B-NP +4 CD I-NP +billion CD I-NP +. . O + +He PRP B-NP +cautions VBZ B-VP +that IN B-SBAR +early JJ B-NP +damage NN I-NP +estimates NNS I-NP +are VBP B-VP +often RB B-ADVP +low JJ B-ADJP +; : O +the DT B-NP +damage NN I-NP +totals VBZ I-NP +in IN B-PP +Hurricane NNP B-NP +Hugo NNP I-NP +increased VBD B-VP +tenfold RB B-ADVP +as IN B-SBAR +more JJR B-NP +information NN I-NP +was VBD B-VP +received VBN I-VP +. . O + +The DT B-NP +earthquake NN I-NP +damage NN I-NP +, , O +of IN B-PP +course NN B-NP +, , O +would MD B-VP +have VB I-VP +been VBN I-VP +far RB B-ADJP +greater JJR I-ADJP +if IN B-SBAR +the DT B-NP +epicenter NN I-NP +had VBD B-VP +been VBN I-VP +in IN B-PP +downtown NN B-NP +San NNP I-NP +Francisco NNP I-NP +. . O + +A DT B-NP +direct JJ I-NP +hit VBD I-NP +on IN B-PP +a DT B-NP +major JJ I-NP +city NN I-NP +, , O +Mr. NNP B-NP +Goldberg NNP I-NP +figures VBZ B-VP +, , O +would MD B-VP +cause VB I-VP +$ $ B-NP +20 CD I-NP +billion CD I-NP +to TO O +$ $ B-NP +40 CD I-NP +billion CD I-NP +of IN B-PP +damage NN B-NP +. . O + +Experts NNS B-NP +caution VBP B-VP +that IN B-SBAR +it PRP B-NP +is VBZ B-VP +far RB B-ADVP +too RB I-ADVP +soon RB I-ADVP +for IN B-PP +reliable JJ B-NP +estimates NNS I-NP +of IN B-PP +the DT B-NP +quake NN I-NP +'s POS B-NP +total JJ I-NP +damage NN I-NP +, , O +but CC O +it PRP B-NP +'s VBZ B-VP +clear JJ B-ADJP +that IN B-SBAR +insurers NNS B-NP +are VBP B-VP +likely JJ B-ADJP +to TO B-VP +pay VB I-VP +out RP B-PRT +enormous JJ B-NP +sums NNS I-NP +. . O + +Jack NNP B-NP +Byrne NNP I-NP +, , O +the DT B-NP +chairman NN I-NP +of IN B-PP +Fireman NNP B-NP +'s POS B-NP +Fund NNP I-NP +Corp. NNP I-NP +, , O +which WDT B-NP +is VBZ B-VP +based VBN I-VP +in IN B-PP +Novato NNP B-NP +, , O +Calif. NNP B-NP +, , O +estimates NNS B-VP +insured VBD B-NP +losses NNS I-NP +resulting VBG B-VP +the DT B-NP +earthquake NN I-NP +could MD B-VP +total VB I-VP +$ $ B-NP +2 CD I-NP +billion CD I-NP +. . O + +The DT B-NP +impact NN I-NP +on IN B-PP +the DT B-NP +insurance NN I-NP +industry NN I-NP +`` `` O +will MD B-VP +be VB I-VP +big JJ B-ADJP +and CC I-ADJP +harsh JJ I-ADJP +, , O +but CC O +less JJR B-ADJP +than IN B-PP +-LCB- ( B-NP +Hurricane NNP I-NP +-RCB- ) I-NP +Hugo NNP I-NP +, , O +'' '' O +says VBZ B-VP +Mr. NNP B-NP +Byrne NNP I-NP +, , O +who WP B-NP +toured VBD B-VP +the DT B-NP +Bay NNP I-NP +area NN I-NP +by IN B-PP +car NN B-NP +yesterday NN B-NP +afternoon NN I-NP +to TO B-VP +get VB I-VP +a DT B-NP +sense NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +exposure NN I-NP +to TO B-PP +the DT B-NP +earthquake NN I-NP +. . O + +Mr. NNP B-NP +Byrne NNP I-NP +says VBZ B-VP +Fireman NNP B-NP +'s POS B-NP +Fund NNP I-NP +will MD B-VP +probably RB I-VP +pay VB I-VP +hundreds NNS B-NP +of IN B-PP +millions NNS B-NP +in IN B-PP +primary JJ B-NP +claims NNS I-NP +, , O +but CC O +, , O +after IN B-PP +taxes NNS B-NP +and CC O +use NN B-NP +of IN B-PP +its PRP$ B-NP +reinsurance NN I-NP +lines NNS I-NP +, , O +the DT B-NP +company NN I-NP +'s POS B-NP +fourthquarter NN I-NP +charge NN I-NP +against IN B-PP +earnings NNS B-NP +should MD B-VP +n't RB I-VP +top JJ I-VP +$ $ B-NP +50 CD I-NP +million CD I-NP +. . O + +The DT B-NP +company NN I-NP +was VBD B-VP +able JJ B-ADJP +to TO B-VP +assess VB I-VP +its PRP$ B-NP +damage NN I-NP +liability NN I-NP +quickly RB B-ADVP +because IN B-SBAR +it PRP B-NP +has VBZ B-VP +computerized JJ B-NP +maps NNS I-NP +of IN B-PP +Northern NNP B-NP +California NNP I-NP +showing VBG B-VP +the DT B-NP +exact JJ I-NP +locations NNS I-NP +of IN B-PP +all PDT B-NP +the DT I-NP +property NN I-NP +it PRP B-NP +insures VBZ B-VP +. . O + +Fireman NNP B-NP +'s POS B-NP +Fund NNP I-NP +had VBD B-VP +claims NNS B-NP +adjusters NNS I-NP +on IN B-PP +the DT B-NP +streets NNS I-NP +of IN B-PP +San NNP B-NP +Francisco NNP I-NP +right NN B-ADVP +after IN B-PP +sunrise NN B-NP +yesterday NN B-NP +and CC O +was VBD B-VP +paying VBG I-VP +as IN B-NP +many JJ I-NP +claims NNS I-NP +as IN B-SBAR +it PRP B-NP +could MD B-VP +right VB B-ADVP +on IN B-PP +the DT B-NP +spot NN I-NP +. . O + +Fireman NNP B-NP +'s POS B-NP +Fund NNP I-NP +insures VBZ B-VP +37,300 CD B-NP +homes NNS I-NP +and CC I-NP +autos NNS I-NP +and CC O +35,000 CD B-NP +businesses NNS I-NP +in IN B-PP +the DT B-NP +Bay NNP I-NP +area NN I-NP +. . O + +In IN B-PP +addition NN B-NP +to TO B-PP +paying VBG B-VP +for IN B-PP +earthquake NN B-NP +and CC I-NP +fire NN I-NP +damage NN I-NP +, , O +the DT B-NP +insurer NN I-NP +must MD B-VP +cover VB I-VP +worker-compensation NN B-NP +claims NNS I-NP +and CC O +also RB B-ADVP +losses NNS B-NP +due JJ B-ADJP +to TO B-PP +businesses NNS B-NP +being VBG B-VP +shut VBN I-VP +down RB B-ADVP +by IN B-PP +lack NN B-NP +of IN B-PP +power NN B-NP +or CC O +phone NN B-NP +service NN I-NP +. . O + +But CC O +many JJ B-NP +Californians NNS I-NP +may MD B-VP +not RB I-VP +have VB I-VP +adequate JJ B-NP +insurance NN I-NP +coverage NN I-NP +to TO B-VP +pay VB I-VP +for IN B-PP +damages NNS B-NP +to TO B-PP +their PRP$ B-NP +property NN I-NP +. . O + +The DT B-NP +Independent NNP I-NP +Insurance NNP I-NP +Agents NNS I-NP +of IN B-PP +America NNP B-NP +says VBZ B-VP +fewer JJR B-NP +than IN I-NP +one CD I-NP +of IN I-NP +every DT I-NP +five CD I-NP +California NNP I-NP +homeowners NNS I-NP +has VBZ B-VP +earthquake NN B-NP +insurance NN I-NP +. . O + +A DT B-NP +somewhat RB I-NP +higher JJR I-NP +percentage NN I-NP +of IN B-PP +people NNS B-NP +living VBG B-VP +in IN B-PP +the DT B-NP +Bay NNP I-NP +area NN I-NP +have VBP B-VP +bought VBN I-VP +the DT B-NP +additional JJ I-NP +insurance NN I-NP +protection NN I-NP +, , O +but CC O +the DT B-NP +great JJ I-NP +majority NN I-NP +are VBP B-VP +n't RB I-VP +covered VBN I-VP +. . O + +Earthquake NN B-NP +insurance NN I-NP +typically RB B-ADVP +runs VBZ B-VP +$ $ B-NP +200 CD I-NP +or CC I-NP +more JJR I-NP +a DT B-NP +year NN I-NP +for IN B-PP +a DT B-NP +small JJ I-NP +house NN I-NP +. . O + +Whatever WDT B-NP +the DT B-NP +long-term JJ I-NP +economic JJ I-NP +effect NN I-NP +, , O +the DT B-NP +scene NN I-NP +from IN B-PP +the DT B-NP +helicopter NN I-NP +above IN B-PP +Oakland NNP B-NP +is VBZ B-VP +one CD B-NP +of IN B-PP +tragedy NN B-NP +. . O + +Gargantuan JJ B-NP +sections NNS I-NP +of IN B-PP +a DT B-NP +double-decker JJ I-NP +freeway NN I-NP +have VBP B-VP +been VBN I-VP +heaved VBN I-VP +about IN B-PRT +like IN B-PP +plastic NN B-NP +building NN I-NP +blocks NNS I-NP +. . O + +Atop IN B-PP +them PRP B-NP +sit VBP B-VP +cars NNS B-NP +and CC I-NP +trucks NNS I-NP +abandoned VBN B-VP +in IN B-PP +a DT B-NP +terrifying JJ I-NP +scramble NN I-NP +to TO B-VP +safety VB I-VP +the DT B-NP +day NN I-NP +before RB I-NP +. . O + +In IN B-PP +areas NNS B-NP +where WRB B-ADVP +the DT B-NP +freeway NN I-NP +made VBD B-VP +giant NN B-NP +concrete JJ I-NP +sandwiches NNS I-NP +of IN B-PP +itself PRP B-NP +lie VBP B-VP +cars NNS B-NP +that WDT B-NP +police NN B-NP +say VBP B-VP +have VBP B-VP +been VBN I-VP +flattened VBN I-VP +into IN B-PP +foot-thick JJ B-NP +slabs NNS I-NP +. . O + +On IN B-PP +the DT B-NP +periphery NN I-NP +, , O +rescue NN B-NP +workers NNS I-NP +seem VBP B-VP +, , O +from IN B-PP +the DT B-NP +air NN I-NP +, , O +to TO B-VP +move VB I-VP +in IN B-PP +slow JJ B-NP +motion NN I-NP +. . O + +They PRP B-NP +peck VBP B-VP +away RB B-ADVP +at IN B-PP +the DT B-NP +1 CD I-NP +1\/2-mile JJ I-NP +section NN I-NP +of IN B-PP +rubble NN B-NP +, , O +searching VBG B-VP +for IN B-PP +more JJR B-NP +of IN B-PP +the DT B-NP +250 CD I-NP +people NNS I-NP +thought VBD B-VP +to TO I-VP +have VB I-VP +died VBN I-VP +here RB B-ADVP +. . O + +About IN B-NP +20 CD I-NP +other JJ I-NP +deaths NNS I-NP +were VBD B-VP +also RB I-VP +attributed VBN I-VP +to TO B-PP +the DT B-NP +earthquake NN I-NP +. . O + +The DT B-NP +heart NN I-NP +of IN B-PP +the DT B-NP +earthquake NN I-NP +, , O +6.9 CD B-NP +on IN B-PP +the DT B-NP +Richter NNP I-NP +scale NN I-NP +, , O +was VBD B-VP +50 CD B-NP +miles NNS I-NP +to TO B-PP +the DT B-NP +south RB I-NP +, , O +near IN B-PP +Santa NNP B-NP +Cruz NNP I-NP +, , O +but CC O +its PRP$ B-NP +terrible JJ I-NP +fist NN I-NP +struck VBD B-VP +here RB B-ADVP +on IN B-PP +the DT B-NP +Nimitz NNP I-NP +Freeway NNP I-NP +, , O +a DT B-NP +major JJ I-NP +artery NN I-NP +serving VBG B-VP +the DT B-NP +Bay NNP I-NP +Bridge NNP I-NP +between IN B-PP +Oakland NNP B-NP +and CC O +San NNP B-NP +Francisco NNP I-NP +. . O + +Along IN B-PP +the DT B-NP +way NN I-NP +, , O +the DT B-NP +quake NN I-NP +toppled VBD B-VP +a DT B-NP +mall NN I-NP +in IN B-PP +Santa NNP B-NP +Cruz NNP I-NP +, , O +knocked VBD B-VP +down JJ B-PRT +buildings NNS B-NP +in IN B-PP +San NNP B-NP +Francisco NNP I-NP +'s POS B-NP +fashionable JJ I-NP +Marina NNP I-NP +District NNP I-NP +and CC O +sent VBD B-VP +a DT B-NP +wall NN I-NP +of IN B-PP +bricks NNS B-NP +crashing VBG B-VP +on IN B-PP +motorists NNS B-NP +in IN B-PP +the DT B-NP +city NN I-NP +'s POS B-NP +Financial NNP I-NP +District NNP I-NP +. . O + +Just RB B-NP +a DT I-NP +short JJ I-NP +span NN I-NP +across IN B-PP +the DT B-NP +bay NN I-NP +to TO B-PP +the DT B-NP +west NN I-NP +, , O +the DT B-NP +quake NN I-NP +also RB B-ADVP +showed VBD B-VP +its PRP$ B-NP +mettle NN I-NP +: : O +A DT B-NP +four-square-block JJ I-NP +area NN I-NP +of IN B-PP +the DT B-NP +Marina NNP I-NP +District NNP I-NP +lies VBZ B-VP +smoldering VBG B-VP +under IN B-PP +a DT B-NP +steady JJ I-NP +stream NN I-NP +of IN B-PP +seawater NN B-NP +being VBG B-VP +pumped VBN I-VP +onto IN B-PP +rubble NN B-NP +to TO B-VP +prevent VB I-VP +it PRP B-NP +from IN B-PP +blazing VBG B-VP +anew RB B-ADVP +. . O + +Many JJ B-NP +of IN B-PP +the DT B-NP +buildings NNS I-NP +, , O +mostly JJ B-NP +condominiums NNS I-NP +and CC I-NP +apartments NNS I-NP +, , O +were VBD B-VP +flattened VBN I-VP +almost RB B-ADVP +instantly RB I-ADVP +as IN B-SBAR +the DT B-NP +underlying VBG I-NP +soil NN I-NP +-- : O +much NN B-NP +of IN B-PP +it PRP B-NP +landfill NN B-NP +-- : O +was VBD B-VP +literally RB I-VP +turned VBN I-VP +to TO B-PP +ooze VB B-NP +by IN B-PP +the DT B-NP +quake NN I-NP +'s POS B-NP +intensive JJ I-NP +shaking NN I-NP +, , O +rupturing VBG B-VP +gas NN B-NP +lines NNS I-NP +. . O + +Onlookers NNS B-NP +say VBP B-VP +three CD B-NP +persons NNS I-NP +died VBD B-VP +when WRB B-ADVP +one CD B-NP +of IN B-PP +the DT B-NP +buildings NNS I-NP +exploded VBD B-VP +into IN B-PP +a DT B-NP +fireball NN I-NP +shortly RB B-ADVP +after IN B-SBAR +the DT B-NP +quake NN I-NP +struck VBD B-VP +. . O + +Efforts NNS B-NP +to TO B-VP +fight VB I-VP +the DT B-NP +blaze NN I-NP +were VBD B-VP +hampered VBN I-VP +because IN B-SBAR +water NN B-NP +mains NNS I-NP +were VBD B-VP +severed VBN I-VP +as IN B-ADVP +well RB I-ADVP +. . O + +From IN B-PP +the DT B-NP +air NN I-NP +, , O +ribbons NNS B-NP +of IN B-PP +yellow JJ B-NP +fire NN I-NP +hose NN I-NP +carry NN B-VP +water NN B-NP +from IN B-PP +the DT B-NP +bay NN I-NP +to TO B-PP +high-pressure JJ B-NP +nozzles NNS I-NP +trained VBN B-VP +on IN B-PP +the DT B-NP +site NN I-NP +. . O + +As IN B-SBAR +onlookers NNS B-NP +stand VBP B-VP +behind IN B-PP +barricades NNS B-NP +, , O +helmeted JJ B-NP +firemen NNS I-NP +and CC I-NP +building NN I-NP +inspectors NNS I-NP +survey VBP B-VP +rows NNS B-NP +of IN B-PP +nearby JJ B-NP +buildings NNS I-NP +that WDT B-NP +were VBD B-VP +twisted VBN I-VP +from IN B-PP +their PRP$ B-NP +foundations NNS I-NP +and CC O +seem VB B-VP +on IN B-PP +the DT B-NP +verge NN I-NP +of IN B-PP +collapse NN B-NP +. . O + +In IN B-PP +the DT B-NP +Marina NNP I-NP +District NNP I-NP +, , O +residents NNS B-NP +spent VBD B-VP +yesterday NN B-NP +assessing VBG B-VP +damage NN B-NP +, , O +cleaning NN B-VP +up IN B-PRT +and CC O +trying VBG B-VP +to TO I-VP +find VB I-VP +friends NNS B-NP +and CC I-NP +neighbors NNS I-NP +. . O + +Evelyn NNP B-NP +Boccone NNP I-NP +, , O +85 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +has VBZ B-VP +lived VBN I-VP +in IN B-PP +the DT B-NP +district NN I-NP +most RBS B-NP +of IN B-PP +her PRP$ B-NP +life NN I-NP +. . O + +Her PRP$ B-NP +parents NNS I-NP +lost VBD B-VP +everything NN B-NP +in IN B-PP +the DT B-NP +1906 CD I-NP +earthquake NN I-NP +. . O + +`` `` O +Now RB B-ADVP +, , O +we PRP B-NP +realize VBP B-VP +what WP B-NP +our PRP$ B-NP +mothers NNS I-NP +must MD B-VP +have VB I-VP +gone VBN I-VP +through IN B-PP +, , O +'' '' O +she PRP B-NP +says VBZ B-VP +. . O + +`` `` O +We PRP B-NP +always RB B-ADVP +heard VBD B-VP +about IN B-PP +the DT B-NP +earthquake NN I-NP +, , O +but CC O +as IN B-PP +children NNS B-NP +we PRP B-NP +did VBD B-VP +n't RB I-VP +always RB I-VP +listen VB I-VP +. . O + +PRINCE NNP B-NP +HENRI NNP I-NP +is VBZ B-VP +the DT B-NP +crown NN I-NP +prince NN I-NP +and CC I-NP +hereditary JJ I-NP +grand JJ I-NP +duke NN I-NP +of IN B-PP +Luxembourg NNP B-NP +. . O + +An DT B-NP +article NN I-NP +in IN B-PP +the DT B-NP +World NNP I-NP +Business NNP I-NP +Report NNP I-NP +of IN B-PP +Sept. NNP B-NP +22 CD I-NP +editions NNS I-NP +incorrectly RB B-VP +referred VBN I-VP +to TO B-PP +his PRP$ B-NP +father NN I-NP +, , O +Grand NNP B-NP +Duke NNP I-NP +Jean NNP I-NP +, , O +as IN B-PP +the DT B-NP +crown NN I-NP +prince NN I-NP +. . O + +Resolution NNP B-NP +Funding NNP I-NP +Corp. NNP I-NP +plans VBZ B-VP +to TO I-VP +sell VB I-VP +$ $ B-NP +4.5 CD I-NP +billion CD I-NP +of IN B-PP +30-year JJ B-NP +bonds NNS I-NP +Wednesday NNP B-NP +in IN B-PP +the DT B-NP +agency NN I-NP +'s POS B-NP +first JJ I-NP +sale NN I-NP +of IN B-PP +securities NNS B-NP +. . O + +The DT B-NP +new JJ I-NP +bonds NNS I-NP +will MD B-VP +be VB I-VP +dated VBN I-VP +Oct. NNP B-NP +30 CD I-NP +and CC O +mature NNP B-VP +Oct. NNP B-NP +15 CD I-NP +, , I-NP +2019 CD I-NP +. . O + +Tenders NNS B-NP +for IN B-PP +the DT B-NP +bonds NNS I-NP +, , O +available JJ B-ADJP +in IN B-PP +minimum JJ B-NP +denominations NNS I-NP +of IN B-PP +$ $ B-NP +1,000 CD I-NP +, , O +must MD B-VP +be VB I-VP +received VBN I-VP +by IN B-PP +1 CD B-NP +p.m. NN I-NP +EDT NNP I-NP +Wednesday NNP B-NP +at IN B-PP +Federal NNP B-NP +Reserve NNP I-NP +banks NNS I-NP +. . O + +Refcorp NNP B-NP +, , O +created VBN B-VP +by IN B-PP +the DT B-NP +thrift-overhaul NN I-NP +law NN I-NP +enacted VBN B-VP +in IN B-PP +August NNP B-NP +, , O +will MD B-VP +use VB I-VP +the DT B-NP +proceeds NNS I-NP +to TO B-VP +merge VB I-VP +or CC O +sell VB B-VP +off IN B-PRT +ailing VBG B-NP +savings-and-loan JJ I-NP +institutions NNS I-NP +. . O + +Congress NNP B-NP +authorized VBD B-VP +$ $ B-NP +50 CD I-NP +billion CD I-NP +to TO B-VP +be VB I-VP +borrowed VBN I-VP +to TO B-VP +pay VB I-VP +for IN B-PP +the DT B-NP +thrift NN I-NP +bailout NN I-NP +. . O + +Of IN B-PP +that DT B-NP +amount NN I-NP +, , O +$ $ B-NP +20 CD I-NP +billion CD I-NP +has VBZ B-VP +already RB I-VP +been VBN I-VP +borrowed VBN I-VP +by IN B-PP +the DT B-NP +Treasury NNP I-NP +Department NNP I-NP +. . O + +Unless IN B-SBAR +otherwise RB B-VP +specified VBN I-VP +in IN B-PP +a DT B-NP +particular JJ I-NP +offer NN I-NP +, , O +the DT B-NP +bonds NNS I-NP +wo MD B-VP +n't RB I-VP +be VB I-VP +subject NN B-ADJP +to TO B-PP +redemption NN B-NP +prior RB B-ADVP +to TO B-PP +maturity NN B-NP +. . O + +Interest NN B-NP +payments NNS I-NP +on IN B-PP +the DT B-NP +bonds NNS I-NP +will MD B-VP +be VB I-VP +payable JJ B-ADJP +semiannually RB B-ADVP +. . O + +The DT B-NP +bonds NNS I-NP +are VBP B-VP +subject NN B-ADJP +to TO B-PP +federal JJ B-NP +taxation NN I-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +, , O +including VBG B-PP +income NN B-NP +taxes NNS I-NP +. . O + +At IN B-PP +the DT B-NP +state NN I-NP +and CC I-NP +local JJ I-NP +level NN I-NP +, , O +the DT B-NP +bonds NNS I-NP +are VBP B-VP +subject NN B-ADJP +to TO B-PP +surtaxes NNS B-NP +and CC O +estate NN B-NP +, , I-NP +inheritance NN I-NP +and CC I-NP +gift NN I-NP +taxes NNS I-NP +, , O +but CC O +exempt JJ B-ADJP +from IN B-PP +taxation NN B-NP +as IN B-PP +to TO B-PP +principal NN B-NP +and CC I-NP +interest NN I-NP +. . O + +G.D. NNP B-NP +Searle NNP I-NP +& CC I-NP +Co. NNP I-NP +, , O +a DT B-NP +Monsanto NNP I-NP +Co. NNP I-NP +unit NN I-NP +, , O +is VBZ B-VP +launching VBG I-VP +a DT B-NP +program NN I-NP +to TO B-VP +give VB I-VP +consumers NNS B-NP +more JJR B-NP +information NN I-NP +about IN B-PP +its PRP$ B-NP +drugs NNS I-NP +when WRB B-ADVP +doctors NNS B-NP +prescribe VBP B-VP +them PRP B-NP +. . O + +Called VBN B-VP +Patients NNS B-NP +in IN B-PP +the DT B-NP +Know VB I-NP +, , O +the DT B-NP +program NN I-NP +features NNS B-VP +fact NN B-NP +sheets NNS I-NP +designed VBN B-VP +to TO I-VP +be VB I-VP +easy JJ B-ADJP +to TO B-VP +understand VB I-VP +. . O + +The DT B-NP +sheets NNS I-NP +tell VBP B-VP +how WRB B-ADVP +the DT B-NP +medicine NN I-NP +works NNS B-VP +, , O +describe VB B-VP +how WRB B-ADVP +to TO B-VP +use VB I-VP +it PRP B-NP +and CC O +list VB B-VP +its PRP$ B-NP +possible JJ I-NP +side NN I-NP +effects NNS I-NP +. . O + +They PRP B-NP +are VBP B-VP +designed VBN I-VP +to TO I-VP +be VB I-VP +given VBN I-VP +to TO B-PP +patients NNS B-NP +by IN B-PP +their PRP$ B-NP +doctors NNS I-NP +when WRB B-ADVP +the DT B-NP +medicines NNS I-NP +are VBP B-VP +prescribed VBN I-VP +and CC O +include VBP B-VP +space NN B-NP +for IN B-SBAR +the DT B-NP +doctor NN I-NP +to TO B-VP +write VB I-VP +special JJ B-NP +instructions NNS I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +Searle NNP B-NP +will MD B-VP +give VB I-VP +pharmacists NNS B-NP +brochures NNS B-NP +on IN B-PP +the DT B-NP +use NN I-NP +of IN B-PP +prescription NN B-NP +drugs NNS I-NP +for IN B-PP +distribution NN B-NP +in IN B-PP +their PRP$ B-NP +stores NNS I-NP +. . O + +Consumer NN B-NP +groups NNS I-NP +have VBP B-VP +long RB I-VP +advocated VBN I-VP +that IN B-SBAR +drug NN B-NP +companies NNS I-NP +and CC O +doctors NNS B-NP +make VBP B-VP +more JJR B-NP +information NN I-NP +available JJ B-ADJP +to TO B-PP +patients NNS B-NP +. . O + +`` `` O +We PRP B-NP +believe VBP B-VP +that IN B-SBAR +every DT B-NP +drug NN I-NP +that WDT B-NP +'s VBZ B-VP +marketed VBN I-VP +to TO B-PP +a DT B-NP +consumer NN I-NP +should MD B-VP +have VB I-VP +a DT B-NP +consumer NN I-NP +label NN I-NP +, , O +'' '' O +said VBD B-VP +Douglas NNP B-NP +Teich NNP I-NP +of IN B-PP +the DT B-NP +Public NNP I-NP +Citizen NNP I-NP +Health NNP I-NP +Research NNP I-NP +Group NNP I-NP +, , O +a DT B-NP +Ralph NNP I-NP +Nader NNP I-NP +affiliate NN I-NP +. . O + +Dr. NNP B-NP +Teich NNP I-NP +said VBD B-VP +Searle NNP B-NP +is VBZ B-VP +`` `` O +the DT B-NP +only JJ I-NP +company NN I-NP +I PRP B-NP +know VBP B-VP +that IN B-NP +voluntarily RB B-VP +'' '' I-VP +will MD I-VP +make VB B-VP +consumer NN B-NP +information NN I-NP +available JJ B-ADJP +. . O + +According VBG B-PP +to TO B-PP +federal JJ B-NP +officials NNS I-NP +and CC O +drug-industry NN B-NP +studies NNS I-NP +, , O +nearly RB B-NP +half NN I-NP +of IN B-PP +the DT B-NP +1.6 CD I-NP +billion CD I-NP +prescriptions NNS I-NP +filled VBD B-VP +each DT B-NP +year NN I-NP +are VBP B-VP +n't RB I-VP +used VBN I-VP +properly RB B-ADVP +, , O +meaning VBG B-VP +that DT O +money NN B-NP +is VBZ B-VP +wasted VBN I-VP +on IN B-PP +some DT B-NP +prescriptions NNS I-NP +and CC O +patients NNS B-NP +are VBP B-VP +deprived VBN I-VP +of IN B-PP +the DT B-NP +benefits NNS I-NP +of IN B-PP +medication NN B-NP +. . O + +`` `` O +We PRP B-NP +think VBP B-VP +it PRP B-NP +'s VBZ B-VP +very RB B-ADJP +important JJ I-ADJP +to TO B-VP +provide VB I-VP +as IN B-NP +much JJ I-NP +information NN I-NP +as IN B-PP +possible JJ B-ADJP +on IN B-PP +the DT B-NP +drugs NNS I-NP +consumers NNS B-NP +take VBP B-VP +, , O +'' '' O +said VBD B-VP +Searle NNP B-NP +Chairman NNP I-NP +Sheldon NNP I-NP +Gilgore NNP I-NP +. . O + +Bond NN B-NP +prices NNS I-NP +rambled VBD B-VP +yesterday NN B-NP +as IN B-SBAR +investors NNS B-NP +kept VBD B-VP +close VB B-NP +watch NN I-NP +on IN B-PP +the DT B-NP +stock NN I-NP +market NN I-NP +and CC O +worried VBN B-VP +about IN B-PP +a DT B-NP +wave NN I-NP +of IN B-PP +new JJ B-NP +supply NN I-NP +. . O + +Early JJ B-NP +yesterday NN I-NP +, , O +bonds NNS B-NP +rose VBD B-VP +as IN B-SBAR +investors NNS B-NP +rushed VBD B-VP +to TO I-VP +buy VB I-VP +Treasury NNP B-NP +securities NNS I-NP +on IN B-PP +the DT B-NP +prospect NN I-NP +that IN B-SBAR +stocks NNS B-NP +would MD B-VP +plummet VB I-VP +in IN B-PP +the DT B-NP +aftermath NN I-NP +of IN B-PP +the DT B-NP +massive JJ I-NP +California NNP I-NP +earthquake NN I-NP +. . O + +For IN B-PP +example NN B-NP +, , O +some DT B-NP +securities NNS I-NP +analysts NNS I-NP +warned VBD B-VP +that IN B-SBAR +stocks NNS B-NP +of IN B-PP +certain JJ B-NP +insurance NN I-NP +companies NNS I-NP +, , O +which WDT B-NP +face VBP B-VP +massive JJ B-NP +damage NN I-NP +claims NNS I-NP +, , O +would MD B-VP +get VB I-VP +hit VB I-VP +hard JJ B-ADVP +. . O + +But CC O +when WRB B-ADVP +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +rose VBD B-VP +instead RB B-ADVP +, , O +bonds NNS B-NP +drifted VBD B-VP +lower JJR B-ADVP +. . O + +With IN B-SBAR +stocks NNS B-NP +not RB B-NP +a DT I-NP +major JJ I-NP +focus NN I-NP +, , O +`` `` O +we PRP B-NP +'re VBP B-VP +waiting VBG I-VP +for IN B-PP +the DT B-NP +next JJ I-NP +guiding VBG I-NP +light NN I-NP +, , O +'' '' O +said VBD B-VP +Brian NNP B-NP +J. NNP I-NP +Fabbri NNP I-NP +, , O +chief JJ B-NP +economist NN I-NP +at IN B-PP +Midland NNP B-NP +Montagu NNP I-NP +Securities NNP I-NP +Inc NNP I-NP +. . O + +`` `` O +If IN B-SBAR +the DT B-NP +stock NN I-NP +market NN I-NP +tremors NNS I-NP +are VBP B-VP +behind IN B-PP +us PRP B-NP +, , O +then RB B-ADVP +the DT B-NP +bond NN I-NP +market NN I-NP +will MD B-VP +go VB I-VP +back RB B-ADVP +to TO B-PP +looking VBG B-VP +at IN B-PP +the DT B-NP +next JJ I-NP +batch NN I-NP +of IN B-PP +economic JJ B-NP +numbers NNS I-NP +to TO B-VP +determine VB I-VP +'' '' O +where WRB B-ADVP +interest NN B-NP +rates NNS I-NP +are VBP B-VP +heading VBG I-VP +. . O + +The DT B-NP +Treasury NNP I-NP +'s POS B-NP +benchmark NN I-NP +30-year JJ I-NP +bond NN I-NP +, , O +which WDT B-NP +jumped VBD B-VP +3\/8 CD B-NP +point NN I-NP +, , O +or CC O +about RB B-NP +$ $ I-NP +3.75 CD I-NP +for IN B-PP +each DT B-NP +$ $ I-NP +1,000 CD I-NP +face NN I-NP +amount NN I-NP +, , O +during IN B-PP +the DT B-NP +first JJ I-NP +hour NN I-NP +of IN B-PP +trading NN B-NP +, , O +ended VBD B-VP +little RB B-VP +changed VBN I-VP +. . O + +Interest NN B-NP +rates NNS I-NP +barely RB B-VP +budged VBD I-VP +from IN B-PP +Tuesday NNP B-NP +'s POS B-NP +levels NNS I-NP +. . O + +Most JJS B-NP +junk NN I-NP +bonds NNS I-NP +, , O +which WDT B-NP +have VBP B-VP +been VBN I-VP +battered VBN I-VP +in IN B-PP +recent JJ B-NP +weeks NNS I-NP +, , O +continued VBD B-VP +a DT B-NP +slow JJ I-NP +recuperation NN I-NP +and CC O +ended VBD B-VP +unchanged JJ B-ADJP +to TO O +slightly RB B-ADJP +higher JJR I-ADJP +. . O + +But CC O +some DT B-NP +so-called JJ I-NP +high-quality JJ I-NP +junk NN I-NP +issues NNS I-NP +fell VBD B-VP +as IN B-SBAR +some DT B-NP +mutual JJ I-NP +funds NNS I-NP +sold VBD B-VP +their PRP$ B-NP +most RBS I-NP +liquid JJ I-NP +issues NNS I-NP +to TO B-VP +raise VB I-VP +cash NN B-NP +. . O + +RJR NNP B-NP +Holdings NNP I-NP +Capital NNP I-NP +Corp. NNP I-NP +'s POS B-NP +14.7 CD B-ADJP +% NN I-ADJP +bonds NNS B-NP +due JJ B-ADJP +2009 CD B-NP +fell VBD B-VP +one CD B-NP +point NN I-NP +. . O + +Other NNP B-NP +RJR NNP I-NP +issues NNS I-NP +fell VBD B-VP +between IN B-PP +1\/2 CD B-NP +point NN I-NP +and CC O +1 CD B-NP +1\/2 CD I-NP +point NN I-NP +. . O + +In IN B-PP +the DT B-NP +latest JJS I-NP +sign NN I-NP +of IN B-PP +how WRB B-ADJP +difficult JJ I-ADJP +it PRP B-NP +is VBZ B-VP +to TO B-VP +place VB I-VP +certain JJ B-NP +junk NN I-NP +bonds NNS I-NP +, , O +Continental NNP B-NP +Airlines NNPS I-NP +said VBD B-VP +it PRP B-NP +was VBD B-VP +forced VBN I-VP +to TO I-VP +scale VB I-VP +back RB B-PRT +the DT B-NP +size NN I-NP +of IN B-PP +its PRP$ B-NP +latest JJS I-NP +offering NN I-NP +. . O + +Continental NNP B-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +Texas NNP B-NP +Air NNP I-NP +Corp. NNP I-NP +, , O +slashed VBD B-VP +the DT B-NP +size NN I-NP +of IN B-PP +its PRP$ B-NP +note NN I-NP +offering NN I-NP +from IN B-PP +$ $ B-NP +150 CD I-NP +million CD I-NP +to TO B-PP +$ $ B-NP +71 CD I-NP +million CD I-NP +. . O + +The DT B-NP +move NN I-NP +had VBD B-VP +been VBN I-VP +widely RB B-ADJP +expected VBN I-ADJP +. . O + +In IN B-PP +the DT B-NP +multipart JJ I-NP +offering NN I-NP +, , O +the DT B-NP +company NN I-NP +sold VBD B-VP +a DT B-NP +portion NN I-NP +of IN B-PP +secured VBN B-NP +notes NNS I-NP +but CC O +shelved VBD B-VP +all PDT B-NP +the DT I-NP +unsecured JJ I-NP +notes NNS I-NP +. . O + +A DT B-NP +Continental NNP I-NP +spokeswoman NN I-NP +said VBD B-VP +the DT B-NP +notes NNS I-NP +may MD B-VP +be VB I-VP +offered VBN I-VP +at IN B-PP +a DT B-NP +later JJ I-NP +date NN I-NP +. . O + +`` `` O +This DT B-NP +was VBD B-VP +not RB O +a DT B-NP +do-or-die JJ I-NP +deal NN I-NP +, , O +'' '' O +she PRP B-NP +said VBD B-VP +. . O + +`` `` O +I PRP B-NP +think VBP B-VP +this DT B-NP +is VBZ B-VP +a DT B-NP +market NN I-NP +that WDT B-NP +required VBD B-VP +some DT B-NP +level NN I-NP +of IN B-PP +security NN B-NP +. . O + +It PRP B-NP +did VBD B-VP +not RB I-VP +make VB I-VP +sense NN B-NP +to TO B-VP +offer VB I-VP +unsecured JJ B-NP +paper NN I-NP +in IN B-PP +an DT B-NP +unsettling JJ I-NP +market NN I-NP +. . O +'' '' O + +Investors NNS B-NP +have VBP B-VP +been VBN I-VP +speculating VBG I-VP +for IN B-PP +weeks NNS B-NP +about IN B-PP +the DT B-NP +market NN I-NP +'s POS B-NP +ability NN I-NP +to TO B-VP +place VB I-VP +the DT B-NP +$ $ I-NP +7 CD I-NP +billion CD I-NP +to TO I-NP +$ $ I-NP +10 CD I-NP +billion CD I-NP +of IN B-PP +new JJ B-NP +junk NN I-NP +bonds NNS I-NP +scheduled VBN B-VP +to TO B-VP +be VB I-VP +sold VBN I-VP +by IN B-PP +year NN B-NP +end NN I-NP +. . O + +Supply NN B-NP +troubles NNS I-NP +were VBD B-VP +also RB B-ADVP +on IN B-PP +the DT B-NP +minds NNS I-NP +of IN B-PP +Treasury NNP B-NP +investors NNS I-NP +yesterday NN B-NP +, , O +who WP B-NP +worried VBD B-VP +about IN B-PP +the DT B-NP +flood NN I-NP +of IN B-PP +new JJ B-NP +government NN I-NP +securities NNS I-NP +coming VBG B-VP +next JJ B-NP +week NN I-NP +. . O + +`` `` O +We PRP B-NP +'re VBP B-VP +being VBG I-VP +bombarded VBN I-VP +by IN B-PP +new JJ B-NP +Treasury NNP I-NP +and CC I-NP +agency NN I-NP +debt NN I-NP +offerings NNS I-NP +, , O +'' '' O +said VBD B-VP +William NNP B-NP +Sullivan NNP I-NP +Jr. NNP I-NP +, , O +director NN B-NP +of IN B-PP +money-market JJ B-NP +research NN I-NP +at IN B-PP +Dean NNP B-NP +Witter NNP I-NP +Reynolds NNP I-NP +Inc NNP I-NP +. . O + +`` `` O +The DT B-NP +market NN I-NP +is VBZ B-VP +concerned VBN B-ADJP +about IN B-PP +its PRP$ B-NP +ability NN I-NP +to TO B-VP +underwrite VB I-VP +all PDT B-NP +this DT I-NP +debt NN I-NP +at IN B-PP +current JJ B-NP +levels NNS I-NP +. . O +'' '' O + +In IN B-PP +addition NN B-NP +to TO B-PP +the DT B-NP +$ $ I-NP +15.6 CD I-NP +billion CD I-NP +of IN B-PP +Treasury NNP B-NP +bills NNS I-NP +to TO B-VP +be VB I-VP +sold VBN I-VP +at IN B-PP +next JJ B-NP +week NN I-NP +'s POS B-NP +regular JJ I-NP +Monday NNP I-NP +auction NN I-NP +, , O +the DT B-NP +government NN I-NP +will MD B-VP +sell VB I-VP +$ $ B-NP +10 CD I-NP +billion CD I-NP +of IN B-PP +new JJ B-NP +two-year JJ I-NP +Treasury NNP I-NP +notes NNS I-NP +. . O + +And CC O +Resolution NNP B-NP +Funding NNP I-NP +Corp. NNP I-NP +said VBD B-VP +late JJ B-NP +yesterday NN I-NP +that IN B-SBAR +it PRP B-NP +will MD B-VP +sell VB I-VP +$ $ B-NP +4.5 CD I-NP +billion CD I-NP +of IN B-PP +30-year JJ B-NP +bonds NNS I-NP +Wednesday NNP B-NP +. . O + +Refcorp NNP B-NP +is VBZ B-VP +the DT B-NP +financing NN I-NP +unit NN I-NP +of IN B-PP +Resolution NNP B-NP +Trust NNP I-NP +Corp. NNP I-NP +, , O +a DT B-NP +new JJ I-NP +government NN I-NP +agency NN I-NP +created VBN B-VP +to TO B-VP +rescue VB I-VP +the DT B-NP +nation NN I-NP +'s POS B-NP +troubled JJ I-NP +thrifts NNS I-NP +. . O + +Its PRP$ B-NP +securities NNS I-NP +have VBP B-VP +been VBN I-VP +dubbed VBN I-VP +`` `` O +bailout NN B-NP +bonds NNS I-NP +'' '' O +by IN B-PP +traders NNS B-NP +. . O + +In IN B-PP +when-issued JJ B-NP +trading NN I-NP +, , O +the DT B-NP +two-year JJ I-NP +Treasurys NNPS I-NP +had VBD B-VP +a DT B-NP +yield NN I-NP +of IN B-PP +about IN B-NP +7.88 CD I-NP +% NN I-NP +. . O + +In IN B-PP +the DT B-NP +municipal JJ I-NP +market NN I-NP +, , O +all DT B-NP +eyes NNS I-NP +were VBD B-VP +on IN B-PP +California NNP B-NP +debt NN I-NP +as IN B-SBAR +investors NNS B-NP +tried VBD B-VP +to TO I-VP +gauge VB I-VP +the DT B-NP +financial JJ I-NP +ramifications NNS I-NP +of IN B-PP +Tuesday NNP B-NP +'s POS B-NP +earthquake NN I-NP +. . O + +But CC O +traders NNS B-NP +said VBD B-VP +the DT B-NP +quake NN I-NP +had VBD B-VP +only RB B-NP +a DT I-NP +minor JJ I-NP +impact NN I-NP +on IN B-PP +the DT B-NP +trading NN I-NP +of IN B-PP +California NNP B-NP +state NN I-NP +and CC I-NP +local JJ I-NP +municipal JJ I-NP +debt NN I-NP +. . O + +`` `` O +There EX B-NP +are VBP B-VP +certain JJ B-NP +bonds NNS I-NP +traders NNS B-NP +refer VBP B-VP +to TO B-PP +as IN B-PP +` `` B-NP +earthquake NN I-NP +' '' I-NP +bonds NNS I-NP +because IN B-SBAR +the DT B-NP +-LRB- ( I-NP +issuers NNS I-NP +-RRB- ) O +are VBP B-VP +on IN B-PP +top NN B-NP +of IN B-PP +the DT B-NP +San NNP I-NP +Andreas NNP I-NP +fault NN I-NP +, , O +'' '' O +said VBD B-VP +Zane NNP B-NP +Mann NNP I-NP +, , O +editor NN B-NP +of IN B-PP +the DT B-NP +California NNP I-NP +Municipal NNP I-NP +Bond NNP I-NP +Advisor NNP I-NP +, , O +a DT B-NP +newsletter NN I-NP +for IN B-PP +investors NNS B-NP +. . O + +Since IN B-SBAR +those DT B-NP +bonds NNS I-NP +already RB B-ADVP +pay VBP B-VP +a DT B-NP +slightly RB I-NP +higher JJR I-NP +yield VB I-NP +, , O +an DT B-NP +extra JJ I-NP +premium NN I-NP +for IN B-PP +the DT B-NP +earthquake NN I-NP +risk NN I-NP +, , O +they PRP B-NP +were VBD B-VP +n't RB I-VP +materially RB I-VP +affected VBN I-VP +. . O + +But CC O +some DT B-NP +bond NN I-NP +market NN I-NP +analysts NNS I-NP +said VBD B-VP +that WDT B-NP +could MD B-VP +quickly RB I-VP +change VB I-VP +if IN B-SBAR +property NN B-NP +casualty NN I-NP +insurance NN I-NP +companies NNS I-NP +scramble VBP B-VP +to TO I-VP +sell VB I-VP +portions NNS B-NP +of IN B-PP +their PRP$ B-NP +municipal JJ I-NP +portfolios NNS I-NP +to TO B-VP +raise VB I-VP +cash NN B-NP +to TO B-VP +pay VB I-VP +damage NN B-NP +claims NNS I-NP +. . O + +`` `` O +Insurance NNP B-NP +companies NNS I-NP +will MD B-VP +foot VB I-VP +a DT B-NP +substantial JJ I-NP +amount NN I-NP +of IN B-PP +the DT B-NP +bill NN I-NP +to TO B-VP +reconstruct VB I-VP +San NNP B-NP +Francisco NNP I-NP +, , O +'' '' O +said VBD B-VP +Charles NNP B-NP +Lieberman NNP I-NP +, , O +chief JJ B-NP +economist NN I-NP +at IN B-PP +Manufacturers NNP B-NP +Hanover NNP I-NP +Securities NNP I-NP +Corp NNP I-NP +. . O + +He PRP B-NP +also RB B-ADVP +expects VBZ B-VP +the DT B-NP +performance NN I-NP +of IN B-PP +municipals NNS B-NP +to TO B-VP +lag VB I-VP +Treasurys NNPS B-NP +as IN B-SBAR +California NNP B-NP +is VBZ B-VP +forced VBN I-VP +to TO I-VP +issue VB I-VP +new JJ B-NP +debt NN I-NP +over IN B-PP +time NN B-NP +to TO B-VP +repair VB I-VP +public JJ B-NP +facilities NNS I-NP +. . O + +A DT B-NP +report NN I-NP +issued VBD B-VP +late JJ B-NP +yesterday NN I-NP +by IN B-PP +Standard NNP B-NP +& CC I-NP +Poor NNP I-NP +'s POS B-NP +Corp. NNP I-NP +concluded VBD B-VP +the DT B-NP +quake NN I-NP +wo MD B-VP +n't RB I-VP +cause VB I-VP +`` `` O +wide-scale JJ B-NP +credit NN I-NP +deterioration NN I-NP +'' '' O +for IN B-PP +issuers NNS B-NP +and CC O +debt NN B-NP +issues NNS I-NP +in IN B-PP +the DT B-NP +12-county JJ I-NP +area NN I-NP +of IN B-PP +Northern NNP B-NP +California NNP I-NP +affected VBN B-VP +by IN B-PP +the DT B-NP +quake NN I-NP +. . O + +Treasury NNP B-NP +Securities NNPS I-NP + +Treasury NN B-NP +bonds NNS I-NP +ended VBD B-VP +narrowly RB B-ADJP +mixed VBN I-ADJP +in IN B-PP +quiet JJ B-NP +trading NN I-NP +. . O + +The DT B-NP +benchmark NN I-NP +30-year JJ I-NP +bond NN I-NP +ended VBD B-VP +at IN B-PP +a DT B-NP +price NN I-NP +of IN B-PP +100 CD B-NP +29\/32 CD I-NP +to TO B-VP +yield VB I-VP +8.03 CD B-NP +% NN I-NP +, , O +compared VBN B-PP +with IN B-PP +100 CD B-NP +28\/32 CD I-NP +to TO B-VP +yield VB I-VP +8.04 CD B-NP +% NN I-NP +Tuesday NNP B-NP +. . O + +The DT B-NP +latest JJS I-NP +10-year JJ I-NP +notes NNS I-NP +were VBD B-VP +quoted VBN I-VP +late RB B-ADVP +at IN B-PP +a DT B-NP +price NN I-NP +of IN B-PP +99 CD B-NP +26\/32 CD I-NP +to TO B-VP +yield VB I-VP +8 CD B-NP +% NN I-NP +, , O +compared VBN B-PP +with IN B-PP +99 CD B-NP +25\/32 CD I-NP +to TO B-VP +yield VB I-VP +8.01 CD B-NP +% NN I-NP +. . O + +Short-term JJ B-NP +rates NNS I-NP +were VBD B-VP +little RB I-VP +changed VBN I-VP +. . O + +Corporate JJ B-NP +Issues NNS I-NP + +Investment-grade JJ B-NP +corporate JJ I-NP +bonds NNS I-NP +ended VBD B-VP +1\/4 CD B-NP +point NN I-NP +lower JJR B-ADJP +. . O + +The DT B-NP +Continental NNP I-NP +junk NN I-NP +bond NN I-NP +offering NN I-NP +, , O +underwritten VBN B-VP +by IN B-PP +Drexel NNP B-NP +Burnham NNP I-NP +Lambert NNP I-NP +Inc. NNP I-NP +, , O +was VBD B-VP +the DT B-NP +only RB I-NP +new JJ I-NP +issue NN I-NP +priced VBD B-VP +yesterday NN B-NP +. . O + +In IN B-PP +the DT B-NP +four-part JJ I-NP +offering NN I-NP +, , O +the DT B-NP +$ $ I-NP +71 CD I-NP +million CD I-NP +of IN B-PP +secured VBN B-NP +equipment NN I-NP +certificates NNS I-NP +was VBD B-VP +priced VBN I-VP +to TO B-VP +yield VB I-VP +13.75 CD B-NP +% NN I-NP +to TO O +15.75 CD B-NP +% NN I-NP +. . O + +Municipals NNS B-NP + +Municipal JJ B-NP +bonds NNS I-NP +ended VBD B-VP +about IN B-NP +1\/8 CD I-NP +to TO I-NP +3\/8 CD I-NP +point NN I-NP +lower RBR B-ADJP +, , O +hurt VBN B-VP +by IN B-PP +the DT B-NP +circulation NN I-NP +of IN B-PP +two CD B-NP +`` `` I-NP +bid-wanted JJ I-NP +'' '' I-NP +lists NNS I-NP +totaling VBG B-VP +$ $ B-NP +655 CD I-NP +million CD I-NP +. . O + +Chemical NNP B-NP +Securities NNP I-NP +Inc. NNP I-NP +is VBZ B-VP +acting VBG I-VP +as IN B-PP +agent NN B-NP +for IN B-PP +the DT B-NP +seller NN I-NP +. . O + +Meanwhile RB B-ADVP +, , O +some DT B-NP +California NNP I-NP +issues NNS I-NP +were VBD B-VP +down RP B-ADVP +a DT B-NP +touch NN I-NP +more JJR B-ADJP +than IN B-PP +the DT B-NP +broad JJ I-NP +market NN I-NP +, , O +but CC O +traders NNS B-NP +said VBD B-VP +there EX B-NP +had VBD B-VP +n't RB I-VP +been VBN I-VP +much JJ B-NP +investor NN I-NP +selling VBG I-NP +because IN B-PP +of IN I-PP +the DT B-NP +quake NN I-NP +. . O + +But CC O +New NNP B-NP +York NNP I-NP +City NNP I-NP +general JJ I-NP +obligation NN I-NP +bonds NNS I-NP +came VBD B-VP +under IN B-PP +selling VBG B-NP +pressure NN I-NP +. . O + +Traders NNS B-NP +said VBD B-VP +a DT B-NP +steady JJ I-NP +stream NN I-NP +of IN B-PP +bonds NNS B-NP +was VBD B-VP +put VBN I-VP +up IN B-ADVP +for IN B-PP +sale NN B-NP +yesterday NN B-NP +, , O +pushing VBG B-VP +yields NNS B-NP +for IN B-PP +longer RB B-NP +maturities NNS I-NP +up IN B-ADVP +0.05 CD B-NP +percentage NN I-NP +point NN I-NP +. . O + +Traders NNS B-NP +said VBD B-VP +investors NNS B-NP +were VBD B-VP +reacting VBG I-VP +to TO B-PP +recent JJ B-NP +negative JJ I-NP +news NN I-NP +on IN B-PP +the DT B-NP +city NN I-NP +'s POS B-NP +finances NNS I-NP +and CC O +are VBP B-VP +nervous JJ B-ADJP +ahead RB B-PP +of IN B-PP +the DT B-NP +Nov. NNP I-NP +7 CD I-NP +election NN I-NP +. . O + +Washington NNP B-NP +, , O +D.C. NNP B-NP +, , O +topped VBD B-VP +the DT B-NP +competitive JJ I-NP +slate NN I-NP +yesterday NN B-NP +with IN B-PP +a DT B-NP +sale NN I-NP +of IN B-PP +$ $ B-NP +200 CD I-NP +million CD I-NP +of IN B-PP +general JJ B-NP +obligation NN I-NP +tax NN I-NP +revenue NN I-NP +anticipation NN I-NP +notes NNS I-NP +. . O + +In IN B-PP +late JJ B-NP +trading NN I-NP +, , O +New NNP B-NP +Jersey NNP I-NP +Turnpike NNP I-NP +Authority NNP I-NP +'s POS B-NP +7.20 CD B-ADJP +% NN I-ADJP +issue NN B-NP +of IN B-PP +2018 CD B-NP +was VBD B-VP +off IN B-ADVP +1\/4 CD B-NP +point NN I-NP +at IN B-PP +98 CD B-NP +bid NN B-VP +. . O + +The DT B-NP +yield NN I-NP +was VBD B-VP +7.35 CD B-NP +% NN I-NP +, , O +up IN B-ADVP +0.01 CD B-NP +percentage NN I-NP +point NN I-NP +. . O + +Mortgage-Backed JJ B-NP +Securities NNPS I-NP + +Mortgage NN B-NP +securities NNS I-NP +ended VBD B-VP +little RB B-ADJP +changed VBN I-ADJP +after IN B-PP +light NN B-NP +dealings NNS I-NP +. . O + +There EX B-NP +was VBD B-VP +no DT B-NP +appreciable JJ I-NP +market NN I-NP +impact NN I-NP +from IN B-PP +the DT B-NP +California NNP I-NP +earthquake NN I-NP +. . O + +Dealers NNS B-NP +said VBD B-VP +there EX B-NP +was VBD B-VP +some DT B-NP +concern NN I-NP +that IN B-SBAR +insurance NN B-NP +companies NNS I-NP +might MD B-VP +be VB I-VP +forced VBN I-VP +to TO I-VP +sell VB I-VP +mortgage NN B-NP +securities NNS I-NP +to TO B-VP +help VB I-VP +pay VB I-VP +earthquake-related JJ B-NP +claims NNS I-NP +, , O +but CC O +no DT B-NP +selling NN I-NP +materialized VBD B-VP +. . O + +The DT B-NP +Federal NNP I-NP +Home NNP I-NP +Loan NNP I-NP +Mortgage NNP I-NP +Corp. NNP I-NP +and CC I-NP +Federal NNP I-NP +National NNP I-NP +Mortgage NNP I-NP +Association NNP I-NP +, , O +two CD B-NP +dominant JJ I-NP +issuers NNS I-NP +of IN B-PP +mortgage NN B-NP +securities NNS I-NP +, , O +have VBP B-VP +a DT B-NP +sizable JJ I-NP +amount NN I-NP +of IN B-PP +California NNP B-NP +home NN I-NP +loans NNS I-NP +in IN B-PP +their PRP$ B-NP +mortgagebacked JJ I-NP +pools NNS I-NP +. . O + +But CC O +their PRP$ B-NP +potential JJ I-NP +quake NN I-NP +exposure NN I-NP +is VBZ B-VP +seen VBN I-VP +as IN B-PP +small JJ B-ADJP +given VBN B-PP +that IN B-SBAR +they PRP B-NP +require VBP B-VP +a DT B-NP +financial JJ I-NP +cushion NN I-NP +on IN B-PP +all PDT B-NP +the DT I-NP +loans NNS I-NP +they PRP B-NP +purchase VBP B-VP +. . O + +And CC O +because IN B-SBAR +Northern NNP B-NP +California NNP I-NP +home NN I-NP +prices NNS I-NP +are VBP B-VP +so RB B-ADJP +high JJ I-ADJP +, , O +loans VBZ B-NP +from IN B-PP +the DT B-NP +region NN I-NP +often RB B-ADVP +are VBP B-VP +too RB B-ADJP +large JJ I-ADJP +to TO B-VP +be VB I-VP +included VBN I-VP +in IN B-PP +Freddie NNP B-NP +Mac NNP I-NP +and CC I-NP +Fannie NNP I-NP +Mae NNP I-NP +pools NNS I-NP +. . O + +Meanwhile RB B-ADVP +, , O +Government NNP B-NP +National NNP I-NP +Mortgage NNP I-NP +Association NNP I-NP +9 CD I-NP +% NN I-NP +securities NNS I-NP +for IN B-PP +November NNP B-NP +delivery NN I-NP +ended VBD B-VP +at IN B-PP +97 CD B-NP +29\/32 CD I-NP +, , O +unchanged JJ B-ADJP +. . O + +Freddie NNP B-NP +Mac NNP I-NP +9 CD I-NP +% NN I-NP +securities NNS I-NP +were VBD B-VP +at IN B-PP +97 CD B-NP +4\/32 CD I-NP +, , O +down RB B-ADVP +1\/32 CD B-NP +. . O + +In IN B-PP +derivative JJ B-NP +markets NNS I-NP +, , O +Fannie NNP B-NP +Mae NNP I-NP +issued VBD B-VP +two CD B-NP +$ $ I-NP +400 CD I-NP +million CD I-NP +real JJ I-NP +estate NN I-NP +mortgage NN I-NP +investment NN I-NP +conduits NNS I-NP +backed VBN B-VP +by IN B-PP +its PRP$ B-NP +9 CD I-NP +% NN I-NP +securities NNS I-NP +. . O + +Foreign JJ B-NP +Bonds NNS I-NP + +British JJ B-NP +government NN I-NP +bonds NNS I-NP +, , O +or CC O +gilts NNS B-NP +, , O +ended VBD B-VP +moderately RB B-ADJP +lower JJR I-ADJP +as IN B-SBAR +equities NNS B-NP +there RB B-ADVP +recovered VBD B-VP +from IN B-PP +Tuesday NNP B-NP +'s POS B-NP +drop NN I-NP +. . O + +The DT B-NP +Treasury NNP I-NP +'s POS B-NP +11 CD B-ADJP +3\/4 CD I-ADJP +% NN I-ADJP +bond NN B-NP +due JJ B-ADJP +2003\/2007 CD B-NP +fell VBD B-VP +11\/32 CD B-NP +to TO B-PP +111 CD B-NP +31\/32 CD I-NP +to TO B-VP +yield VB I-VP +10.08 CD B-NP +% NN I-NP +, , O +while IN B-SBAR +the DT B-NP +12 CD I-NP +% NN I-NP +notes NNS I-NP +due JJ B-ADJP +1995 CD B-NP +were VBD B-VP +down RB B-ADVP +7\/32 CD B-NP +to TO B-PP +103 CD B-NP +22\/32 CD I-NP +to TO B-VP +yield VB I-VP +11.04 CD B-NP +% NN I-NP +. . O + +Traders NNS B-NP +said VBD B-VP +today NN B-NP +may MD B-VP +be VB I-VP +an DT B-NP +anxious JJ I-NP +day NN I-NP +for IN B-PP +the DT B-NP +market NN I-NP +. . O + +Several JJ B-NP +key JJ I-NP +economic JJ I-NP +figures NNS I-NP +are VBP B-VP +due JJ B-ADJP +out IN I-ADJP +and CC O +Chancellor NNP O +of IN B-PP +the DT B-NP +Exchequer NNP I-NP +Nigel NNP B-NP +Lawson NNP I-NP +is VBZ B-VP +scheduled VBN I-VP +to TO I-VP +give VB I-VP +the DT B-NP +annual JJ I-NP +`` `` I-NP +Mansion NNP I-NP +House NNP I-NP +'' '' I-NP +address NN I-NP +to TO B-PP +the DT B-NP +financial JJ I-NP +community NN I-NP +. . O + +The DT B-NP +chancellor NN I-NP +sometimes RB B-ADVP +has VBZ B-VP +used VBN I-VP +the DT B-NP +occasion NN I-NP +to TO B-VP +announce VB I-VP +major JJ B-NP +economic JJ I-NP +policy NN I-NP +changes NNS I-NP +. . O + +Economists NNS B-NP +do VBP B-VP +n't RB I-VP +expect VB I-VP +any DT B-NP +such JJ I-NP +changes NNS I-NP +in IN B-PP +this DT B-NP +year NN I-NP +'s POS B-NP +address NN I-NP +, , O +given VBN B-PP +Mr. NNP B-NP +Lawson NNP I-NP +'s POS B-NP +apparent JJ I-NP +reluctance NN I-NP +to TO B-VP +adjust VB I-VP +policy NN B-NP +currently RB B-ADVP +. . O + +Meanwhile RB B-ADVP +, , O +Japanese JJ B-NP +government NN I-NP +bonds NNS I-NP +retreated VBD B-VP +in IN B-PP +quiet JJ B-NP +trading NN I-NP +, , O +stymied VBN B-VP +by IN B-PP +the DT B-NP +dollar NN I-NP +'s POS B-NP +resiliency NN I-NP +. . O + +Japan NNP B-NP +'s POS B-NP +bellwether NN O +4.6 CD B-ADJP +% NN I-ADJP +bond NN B-NP +due JJ B-ADJP +1998 CD B-NP +ended VBD B-VP +on IN B-PP +brokers NNS B-NP +' POS B-NP +screens NNS I-NP +at IN B-PP +95.75 CD B-NP +to TO B-VP +yield VB I-VP +5.315 CD B-NP +% NN I-NP +. . O + +In IN B-PP +West NNP B-NP +Germany NNP I-NP +, , O +investors NNS B-NP +stayed VBD B-VP +on IN B-PP +the DT B-NP +sidelines NNS I-NP +as IN B-SBAR +the DT B-NP +bond NN I-NP +market NN I-NP +searched VBD B-VP +for IN B-PP +direction NN B-NP +. . O + +The DT B-NP +government NN I-NP +'s POS B-NP +7 CD B-ADJP +% NN I-ADJP +issue NN B-NP +due JJ B-ADJP +October NNP B-NP +1999 CD I-NP +fell VBD B-VP +0.05 CD B-NP +point NN I-NP +to TO B-PP +99.90 CD B-NP +to TO B-VP +yield VB I-VP +7.01 CD B-NP +% NN I-NP +. . O + +The DT B-NP +Berlin NNP I-NP +Wall NNP I-NP +still RB B-ADVP +stands VBZ B-VP +. . O + +But CC O +the DT B-NP +man NN I-NP +who WP B-NP +built VBD B-VP +it PRP B-NP +has VBZ B-VP +fallen VBN I-VP +. . O + +East NNP B-NP +Germany NNP I-NP +yesterday NN B-NP +removed VBN B-VP +Erich NNP B-NP +Honecker NNP I-NP +, , O +one CD B-NP +of IN B-PP +the DT B-NP +staunchest JJS I-NP +holdouts NNS I-NP +against IN B-PP +the DT B-NP +reform NN I-NP +rumbling VBG B-VP +through IN B-PP +the DT B-NP +Communist NNP I-NP +world NN I-NP +, , O +in IN B-PP +an DT B-NP +effort NN I-NP +to TO B-VP +win VB I-VP +back RB B-ADVP +the DT B-NP +confidence NN I-NP +of IN B-PP +its PRP$ B-NP +increasingly RB I-NP +rebellious JJ I-NP +citizens NNS I-NP +. . O + +But CC O +while IN B-SBAR +it PRP B-NP +was VBD B-VP +a DT B-NP +move NN I-NP +that WDT B-NP +stunned VBD B-VP +the DT B-NP +East NNP I-NP +bloc NN I-NP +, , O +it PRP B-NP +hardly RB B-ADVP +ushers VBZ B-VP +in IN B-ADVP +an DT B-NP +era NN I-NP +of IN B-PP +reform NN B-NP +-- : O +at IN B-ADVP +least JJS I-ADVP +anytime RB I-ADVP +soon RB I-ADVP +. . O + +For IN O +the DT B-NP +Politburo NNP I-NP +replaced VBD B-VP +Mr. NNP B-NP +Honecker NNP I-NP +, , O +who WP B-NP +had VBD B-VP +led VBN I-VP +East NNP B-NP +Germany NNP I-NP +for IN B-PP +18 CD B-NP +years NNS I-NP +and CC O +before IN B-PP +that DT B-NP +headed VBD B-VP +its PRP$ B-NP +security NN I-NP +apparatus NN I-NP +, , O +with IN B-PP +a DT B-NP +man NN I-NP +cut NN B-VP +of IN B-PP +the DT B-NP +same JJ I-NP +cloth NN I-NP +: : O +Egon NNP B-NP +Krenz NNP I-NP +, , O +the DT B-NP +most RBS I-NP +recent JJ I-NP +internal-security NN I-NP +chief NN I-NP +and CC O +a DT B-NP +longtime JJ I-NP +Honecker NNP I-NP +protege NN I-NP +. . O + +East NNP B-NP +Germany NNP I-NP +, , O +it PRP B-NP +is VBZ B-VP +clear JJ B-ADJP +, , O +is VBZ B-VP +no DT B-NP +Poland NNP I-NP +, , O +where WRB B-ADVP +the DT B-NP +Communist NNP I-NP +Party NNP I-NP +now RB B-ADVP +shares NNS B-VP +power VBP B-NP +with IN B-PP +the DT B-NP +democratically RB I-NP +elected VBN I-NP +Solidarity NNP I-NP +union NN I-NP +. . O + +Nor CC O +is VBZ O +it PRP B-NP +a DT B-NP +Hungary NNP I-NP +, , O +where WRB B-ADVP +yesterday NN B-NP +the DT B-NP +parliament NN I-NP +approved VBD B-VP +constitutional JJ B-NP +changes NNS I-NP +meant VBD B-VP +to TO I-VP +help VB I-VP +turn VB I-VP +the DT B-NP +Communist NNP I-NP +nation NN I-NP +into IN B-PP +a DT B-NP +multiparty NN I-NP +democracy NN I-NP +. . O + +Still RB B-ADVP +, , O +any DT B-NP +change NN I-NP +in IN B-PP +East NNP B-NP +Germany NNP I-NP +has VBZ B-VP +enormous JJ B-NP +implications NNS I-NP +, , O +for IN B-PP +both DT B-NP +East NNP I-NP +and CC I-NP +West NNP I-NP +. . O + +It PRP B-NP +raises VBZ B-VP +the DT B-NP +long-cherished JJ I-NP +hopes NNS I-NP +of IN B-PP +many JJ B-NP +Germans NNPS I-NP +for IN B-PP +reunification NN B-NP +-- : O +a DT B-NP +prospect NN I-NP +that IN B-NP +almost RB B-VP +equally RB I-VP +alarms VBZ I-VP +political JJ B-NP +leaders NNS I-NP +in IN B-PP +Moscow NNP B-NP +, , O +Washington NNP B-NP +and CC O +Western NNP B-NP +Europe NNP I-NP +. . O + +Mr. NNP B-NP +Krenz NNP I-NP +, , O +52 CD B-NP +, , O +was VBD B-VP +named VBN I-VP +the DT B-NP +new JJ I-NP +party NN I-NP +chief NN I-NP +just RB B-NP +minutes NNS I-NP +after IN B-SBAR +the DT B-NP +Party NNP I-NP +'s POS B-NP +163-member NNP I-NP +Central NNP I-NP +Committee NNP I-NP +convened VBD B-VP +in IN B-PP +East NNP B-NP +Berlin NNP I-NP +. . O + +Although IN B-SBAR +the DT B-NP +East JJ I-NP +German JJ I-NP +news NN I-NP +agency NN I-NP +ADN NNP I-NP +claimed VBD B-VP +Mr. NNP B-NP +Honecker NNP I-NP +had VBD B-VP +asked VBN I-VP +to TO I-VP +be VB I-VP +relieved VBN I-VP +of IN B-PP +his PRP$ B-NP +duties NNS I-NP +for IN B-PP +`` `` O +health NN B-NP +reasons NNS I-NP +, , O +'' '' O +West JJ B-NP +German JJ I-NP +government NN I-NP +sources NNS I-NP +said VBD B-VP +the DT B-NP +26-man NNP I-NP +Politburo NNP I-NP +had VBD B-VP +asked VBN I-VP +for IN B-PP +his PRP$ B-NP +resignation NN I-NP +at IN B-PP +a DT B-NP +separate JJ I-NP +meeting NN I-NP +late JJ B-NP +Tuesday NNP I-NP +. . O + +-LRB- ( O +Mr. NNP B-NP +Honecker NNP I-NP +was VBD B-VP +twice RB I-VP +hospitalized VBN I-VP +this DT B-NP +summer NN I-NP +for IN B-PP +a DT B-NP +gall NN I-NP +bladder NN I-NP +ailment NN I-NP +and CC O +his PRP$ B-NP +physical JJ I-NP +condition NN I-NP +has VBZ B-VP +been VBN I-VP +the DT B-NP +subject NN I-NP +of IN B-PP +intense JJ B-NP +speculation NN I-NP +in IN B-PP +the DT B-NP +Western JJ I-NP +media NNS I-NP +. . O +-RRB- ) O + +ADN NNP B-NP +said VBD B-VP +Mr. NNP B-NP +Honecker NNP I-NP +, , O +a DT B-NP +hard-line JJ I-NP +Stalinist JJ I-NP +who WP B-NP +in IN B-PP +1961 CD B-NP +supervised VBD B-VP +the DT B-NP +construction NN I-NP +of IN B-PP +the DT B-NP +Berlin NNP I-NP +Wall NNP I-NP +, , O +also RB B-ADVP +was VBD B-VP +relieved VBN I-VP +of IN B-PP +his PRP$ B-NP +title NN I-NP +as IN B-PP +head NN B-NP +of IN B-PP +state NN B-NP +and CC O +his PRP$ B-NP +position NN I-NP +as IN B-PP +chief NN B-NP +of IN B-PP +the DT B-NP +military NN I-NP +. . O + +Mr. NNP B-NP +Krenz NNP I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +be VB I-VP +formally RB I-VP +named VBN I-VP +to TO B-PP +all DT B-NP +three CD I-NP +positions NNS I-NP +once RB B-SBAR +the DT B-NP +nation NN I-NP +'s POS B-NP +parliament NN I-NP +convenes VBZ B-VP +later RB B-NP +this DT I-NP +week NN I-NP +. . O + +Mr. NNP B-NP +Honecker NNP I-NP +'s POS B-NP +ignoble JJ I-NP +fall NN I-NP +culminates VBZ B-VP +nearly RB B-NP +two CD I-NP +decades NNS I-NP +of IN B-PP +iron-handed JJ B-NP +leadership NN I-NP +during IN B-PP +which WDT B-NP +Mr. NNP B-NP +Honecker NNP I-NP +, , O +now RB O +77 CD B-NP +years NNS I-NP +old JJ B-ADJP +, , O +built VBN B-VP +East NNP B-NP +Germany NNP I-NP +into IN B-PP +the DT B-NP +most RBS I-NP +economically RB I-NP +advanced VBD I-NP +nation NN I-NP +in IN B-PP +the DT B-NP +Soviet JJ I-NP +bloc NN I-NP +. . O + +His PRP$ B-NP +grip NN I-NP +on IN B-PP +power NN B-NP +unraveled VBD B-VP +this DT B-NP +summer NN I-NP +as IN B-SBAR +thousands NNS B-NP +of IN B-PP +his PRP$ B-NP +countrymen NNS I-NP +, , O +dissatisfied JJ B-VP +by IN B-PP +the DT B-NP +harshness NN I-NP +of IN B-PP +his PRP$ B-NP +rule NN I-NP +, , O +fled VBD B-VP +to TO B-PP +the DT B-NP +West NNP I-NP +. . O + +Thousands NNS B-NP +more RBR I-NP +have VBP B-VP +taken VBN I-VP +to TO B-PP +the DT B-NP +streets NNS I-NP +in IN B-PP +the DT B-NP +last JJ I-NP +month NN I-NP +in IN B-PP +East NNP B-NP +Germany NNP I-NP +'s POS B-NP +largest JJS I-NP +wave NN I-NP +of IN B-PP +domestic JJ B-NP +unrest NN I-NP +since IN B-PP +a DT B-NP +workers NNS I-NP +' POS B-NP +uprising NN I-NP +in IN B-PP +1953 CD B-NP +. . O + +In IN B-PP +Washington NNP B-NP +, , O +the DT B-NP +Bush NNP I-NP +administration NN I-NP +took VBD B-VP +a DT B-NP +characteristically RB I-NP +cautious JJ I-NP +and CC I-NP +skeptical JJ I-NP +view NN I-NP +of IN B-PP +the DT B-NP +leadership NN I-NP +change NN I-NP +. . O + +The DT B-NP +official JJ I-NP +line NN I-NP +was VBD B-VP +to TO B-VP +offer VB I-VP +warmer JJR B-NP +ties NNS I-NP +to TO B-PP +Mr. NNP B-NP +Krenz NNP I-NP +, , O +provided VBD B-PP +he PRP B-NP +is VBZ B-VP +willing JJ B-ADJP +to TO B-VP +institute VB I-VP +reforms NNS B-NP +. . O + +But CC O +U.S. NNP B-NP +officials NNS I-NP +have VBP B-VP +strong JJ B-NP +doubts NNS I-NP +that IN B-SBAR +he PRP B-NP +is VBZ B-VP +a DT B-NP +reformer NN I-NP +. . O + +President NNP B-NP +Bush NNP I-NP +told VBD B-VP +reporters NNS B-NP +: : O +`` `` O +Whether IN B-SBAR +that DT B-NP +-LCB- ( O +the DT B-NP +leadership NN I-NP +change NN I-NP +-RCB- ) O +reflects VBZ B-VP +a DT B-NP +change NN I-NP +in IN B-PP +East-West NNP B-NP +relations NNS I-NP +, , O +I PRP B-NP +do VBP B-VP +n't RB I-VP +think VB I-VP +so RB B-ADVP +. . O + +Because IN B-SBAR +Mr. NNP B-NP +Krenz NNP I-NP +has VBZ B-VP +been VBN I-VP +very RB B-ADVP +much RB I-ADVP +in IN B-PP +accord NN B-NP +with IN B-PP +the DT B-NP +policies NNS I-NP +of IN B-PP +Honecker NNP B-NP +. . O +'' '' O + +One CD B-NP +top JJ I-NP +U.S. NNP I-NP +expert NN I-NP +on IN B-PP +East NNP B-NP +Germany NNP I-NP +added VBD B-VP +: : O +`` `` O +There EX B-NP +is VBZ B-VP +no DT B-NP +clear-cut JJ I-NP +champion NN I-NP +of IN B-PP +reform NN B-NP +, , O +that IN B-NP +we PRP B-NP +know VBP B-VP +of IN B-PP +, , O +in IN B-PP +the DT B-NP +East JJ I-NP +German JJ I-NP +leadership NN I-NP +. . O +'' '' O + +Indeed RB B-ADVP +, , O +Mr. NNP B-NP +Krenz NNP I-NP +said VBD B-VP +on IN B-PP +East JJ B-NP +German JJ I-NP +television NN I-NP +last JJ B-NP +night NN I-NP +that IN B-SBAR +there EX B-NP +will MD B-VP +be VB I-VP +no DT B-NP +sharing NN I-NP +of IN B-PP +power NN B-NP +with IN B-PP +pro-democracy JJ B-NP +groups NNS I-NP +. . O + +He PRP B-NP +said VBD B-VP +, , O +while IN B-SBAR +dialogue NN B-NP +is VBZ B-VP +important JJ B-ADJP +, , O +enough JJ B-NP +forums NNS I-NP +already RB B-ADVP +exist VBP B-VP +`` `` O +in IN B-PP +which WDT B-NP +different JJ B-NP +interests NNS I-NP +'' '' O +can MD B-VP +express VB I-VP +themselves PRP B-NP +. . O + +The DT B-NP +removal NN I-NP +of IN B-PP +Mr. NNP B-NP +Honecker NNP I-NP +was VBD B-VP +apparently RB B-ADVP +the DT B-NP +result NN I-NP +of IN B-PP +bitter JJ B-NP +infighting NN I-NP +within IN B-PP +the DT B-NP +top JJ I-NP +ranks NNS I-NP +of IN B-PP +the DT B-NP +Communist NNP I-NP +party NN I-NP +. . O + +According VBG B-PP +to TO B-PP +West JJ B-NP +German JJ I-NP +government NN I-NP +sources NNS I-NP +, , O +Mr. NNP B-NP +Honecker NNP I-NP +and CC O +several JJ B-NP +senior JJ I-NP +Politburo NNP I-NP +members NNS I-NP +fought VBD B-VP +over IN B-PP +the DT B-NP +last JJ I-NP +week NN I-NP +to TO B-VP +delay VB I-VP +any DT B-NP +decisions NNS I-NP +about IN B-PP +a DT B-NP +leadership NN I-NP +change NN I-NP +. . O + +But CC O +, , O +with IN B-PP +public JJ B-NP +demonstrations NNS I-NP +in IN B-PP +the DT B-NP +country NN I-NP +growing VBG B-VP +in IN B-PP +size NN B-NP +and CC I-NP +intensity NN I-NP +, , O +Mr. NNP B-NP +Honecker NNP I-NP +and CC O +several JJ B-NP +key JJ I-NP +allies NNS I-NP +lost VBD B-VP +out IN B-ADVP +in IN B-PP +this DT B-NP +battle NN I-NP +, , O +officials NNS B-NP +say VBP B-VP +. . O + +Those DT B-NP +allies NNS I-NP +included VBD B-VP +Politburo NNP O +members NNS O +Guenter NNP O +Mittag NNP O +, , O +who WP B-NP +has VBZ B-VP +long RB I-VP +headed VBN I-VP +economic JJ B-NP +affairs NNS I-NP +, , B-NP +and CC I-NP +Joachim NNP I-NP +Hermann NNP I-NP +, , O +chief NN B-NP +of IN B-PP +information NN B-NP +policy NN I-NP +. . O + +Both DT B-NP +men NNS I-NP +were VBD B-VP +also RB I-VP +relieved VBN I-VP +of IN B-PP +their PRP$ B-NP +duties NNS I-NP +yesterday NN B-NP +. . O + +Although IN B-SBAR +other JJ B-NP +resignations NNS I-NP +may MD B-VP +follow VB I-VP +, , O +it PRP B-NP +'s VBZ B-VP +still RB B-ADVP +not RB O +clear JJ B-ADJP +to TO B-PP +what WP B-NP +extent NN I-NP +the DT B-NP +change NN I-NP +in IN B-PP +party NN B-NP +personnel NNS I-NP +will MD B-VP +alter VB I-VP +the DT B-NP +government NN I-NP +'s POS B-NP +resistance NN I-NP +to TO B-PP +fundamental JJ B-NP +change NN I-NP +. . O + +Clearly RB B-ADVP +, , O +the DT B-NP +central JJ I-NP +figure NN I-NP +in IN B-PP +this DT B-NP +process NN I-NP +is VBZ B-VP +Egon NNP B-NP +Krenz NNP I-NP +. . O + +Born VBN B-VP +in IN B-PP +1937 CD B-NP +in IN B-PP +a DT B-NP +Baltic NNP I-NP +Sea NNP I-NP +town NN I-NP +now JJ B-ADVP +part NN B-NP +of IN B-PP +Poland NNP B-NP +, , O +he PRP B-NP +was VBD B-VP +eight CD B-NP +years NNS I-NP +old JJ B-ADJP +when WRB B-ADVP +World NNP B-NP +War NNP I-NP +II NNP I-NP +ended VBD B-VP +. . O + +Like IN B-PP +West JJ B-NP +German NNP I-NP +Chancellor NNP I-NP +Helmut NNP I-NP +Kohl NNP I-NP +, , O +he PRP B-NP +represents VBZ B-VP +the DT B-NP +postwar JJ I-NP +generation NN I-NP +that WDT B-NP +has VBZ B-VP +grown VBN I-VP +up IN B-ADVP +during IN B-PP +Germany NNP B-NP +'s POS B-NP +division NN I-NP +. . O + +Since IN B-PP +joining VBG B-VP +the DT B-NP +Politburo NNP I-NP +in IN B-PP +1983 CD B-NP +as IN B-PP +its PRP$ B-NP +youngest JJS I-NP +member NN I-NP +, , O +Mr. NNP B-NP +Krenz NNP I-NP +had VBD B-VP +acquired VBN I-VP +the DT B-NP +nickname NN I-NP +`` `` O +crown NN B-NP +prince NN I-NP +, , O +'' '' O +a DT B-NP +reference NN I-NP +to TO B-PP +the DT B-NP +widely RB I-NP +held VBN I-NP +view NN I-NP +that IN B-SBAR +he PRP B-NP +was VBD B-VP +the DT B-NP +hand-picked JJ I-NP +successor NN I-NP +to TO B-PP +Mr. NNP B-NP +Honecker NNP I-NP +. . O + +In IN B-PP +fact NN B-NP +, , O +the DT B-NP +two CD I-NP +men NNS I-NP +have VBP B-VP +had VBN I-VP +strikingly RB B-NP +similar JJ I-NP +career NN I-NP +paths NNS I-NP +, , O +both DT B-NP +having VBG B-VP +served VBN I-VP +as IN B-PP +chief NN B-NP +of IN B-PP +internal JJ B-NP +security NN I-NP +before IN B-PP +their PRP$ B-NP +rise NN I-NP +to TO B-PP +the DT B-NP +top JJ I-NP +party NN I-NP +position NN I-NP +. . O + +Moreover RB B-ADVP +, , O +both DT B-NP +men NNS I-NP +have VBP B-VP +hewn VBN I-VP +to TO B-PP +a DT B-NP +similar JJ I-NP +hard-line JJ I-NP +philosophy NN I-NP +. . O + +Notably RB B-ADVP +, , O +one CD B-NP +of IN B-PP +Mr. NNP B-NP +Krenz NNP I-NP +'s POS B-NP +few JJ I-NP +official JJ I-NP +visits NNS I-NP +overseas NN B-ADVP +came VBD B-VP +a DT B-NP +few JJ I-NP +months NNS I-NP +ago RB B-ADVP +, , O +when WRB B-ADVP +he PRP B-NP +visited VBD B-VP +China NNP B-NP +after IN B-PP +the DT B-NP +massacre NN I-NP +in IN B-PP +Beijing NNP B-NP +. . O + +He PRP B-NP +later RB B-ADVP +defended VBD B-VP +the DT B-NP +Chinese JJ I-NP +government NN I-NP +'s POS B-NP +response NN I-NP +during IN B-PP +a DT B-NP +separate JJ I-NP +visit NN I-NP +to TO B-PP +West NNP B-NP +Germany NNP I-NP +. . O + +East JJ B-NP +German NNP I-NP +Protestantism NNP I-NP +in IN B-PP +particular JJ B-ADJP +fears NNS B-VP +Mr. NNP B-NP +Krenz NNP I-NP +, , O +in IN B-PP +part NN B-NP +because IN B-PP +of IN I-PP +an DT B-NP +incident NN I-NP +in IN B-PP +January NNP B-NP +1988 CD I-NP +when WRB B-ADVP +he PRP B-NP +was VBD B-VP +believed VBN I-VP +to TO I-VP +have VB I-VP +ordered VBN I-VP +the DT B-NP +arrest NN I-NP +of IN B-PP +hundreds NNS B-NP +of IN B-PP +dissidents NNS B-NP +who WP B-NP +had VBD B-VP +sought VBN I-VP +refuge NN B-NP +in IN B-PP +the DT B-NP +Church NNP I-NP +. . O + +However RB B-ADVP +, , O +Mr. NNP B-NP +Krenz NNP I-NP +also RB B-ADVP +has VBZ B-VP +a DT B-NP +reputation NN I-NP +for IN B-PP +being VBG B-VP +politically RB B-ADJP +savvy JJ I-ADJP +. . O + +His PRP$ B-NP +shrewd JJ I-NP +ability NN I-NP +to TO B-VP +read VB I-VP +the DT B-NP +shifting VBG I-NP +popular JJ I-NP +mood NN I-NP +in IN B-PP +East NNP B-NP +Germany NNP I-NP +is VBZ B-VP +best RBS I-VP +illustrated VBN I-VP +by IN B-PP +his PRP$ B-NP +apparent JJ I-NP +break NN I-NP +with IN B-PP +his PRP$ B-NP +old JJ I-NP +mentor NN I-NP +, , O +Mr. NNP B-NP +Honecker NNP I-NP +. . O + +Indeed RB B-ADVP +, , O +according VBG B-PP +to TO B-PP +West JJ B-NP +German JJ I-NP +government NN I-NP +sources NNS I-NP +, , O +he PRP B-NP +was VBD B-VP +one CD B-NP +of IN B-PP +the DT B-NP +leaders NNS I-NP +in IN B-PP +the DT B-NP +power NN I-NP +struggle NN I-NP +that WDT B-NP +toppled VBD B-VP +Mr. NNP B-NP +Honecker NNP I-NP +. . O + +In IN B-PP +recent JJ B-NP +days NNS I-NP +, , O +Mr. NNP B-NP +Krenz NNP I-NP +has VBZ B-VP +sought VBN I-VP +to TO I-VP +project VB I-VP +a DT B-NP +kinder JJR I-NP +image NN I-NP +. . O + +According VBG B-PP +to TO B-PP +a DT B-NP +report NN I-NP +widely RB B-VP +circulating VBG I-VP +in IN B-PP +East NNP B-NP +Berlin NNP I-NP +, , O +it PRP B-NP +was VBD B-VP +Mr. NNP B-NP +Krenz NNP I-NP +who WP B-NP +ordered VBD B-VP +police NN B-NP +to TO B-VP +stop VB I-VP +using VBG I-VP +excessive JJ B-NP +force NN I-NP +against IN B-PP +demonstrators NNS B-NP +in IN B-PP +Leipzig NNP B-NP +. . O + +`` `` O +He PRP B-NP +does VBZ B-VP +n't RB I-VP +want VB I-VP +to TO I-VP +have VB I-VP +the DT B-NP +image NN I-NP +of IN B-PP +the DT B-NP +gun NN I-NP +man NN I-NP +, , O +'' '' O +says VBZ B-VP +Fred NNP B-NP +Oldenburg NNP I-NP +, , O +an DT B-NP +expert NN I-NP +at IN B-PP +the DT B-NP +Bonn-sponsored NNP I-NP +Institute NNP I-NP +of IN B-PP +East NNP B-NP +European JJ I-NP +and CC I-NP +International NNP I-NP +Studies NNS I-NP +in IN B-PP +Cologne NNP B-NP +. . O + +`` `` O +He PRP B-NP +'s VBZ B-VP +not RB O +a DT B-NP +reformer JJ I-NP +-- : O +he PRP B-NP +wants VBZ B-VP +to TO I-VP +have VB I-VP +the DT B-NP +image NN I-NP +of IN B-PP +a DT B-NP +reformer NN I-NP +. . O +'' '' O + +As IN B-PP +part NN B-NP +of IN B-PP +his PRP$ B-NP +image NN I-NP +polishing VBG I-NP +, , O +Mr. NNP B-NP +Krenz NNP I-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +take VB I-VP +modest JJ B-NP +steps NNS I-NP +toward IN B-PP +reform NN B-NP +to TO B-VP +rebuild VB I-VP +confidence NN B-NP +among IN B-PP +the DT B-NP +people NNS I-NP +and CC O +reassert VB B-VP +the DT B-NP +party NN I-NP +'s POS B-NP +authority NN I-NP +. . O + +Besides IN B-PP +sacking VBG B-VP +other JJ B-NP +senior JJ I-NP +Politburo NNP I-NP +officials NNS I-NP +who WP B-NP +allied VBD B-VP +themselves PRP B-NP +with IN B-PP +Mr. NNP B-NP +Honecker NNP I-NP +, , O +Mr. NNP B-NP +Krenz NNP I-NP +could MD B-VP +loosen VB I-VP +controls NNS B-NP +on IN B-PP +the DT B-NP +news NN I-NP +media NNS I-NP +, , O +free JJ B-VP +up IN B-PRT +travel NN B-NP +restrictions NNS I-NP +, , O +and CC O +establish VB B-VP +a DT B-NP +dialogue NN I-NP +with IN B-PP +various JJ B-NP +dissident JJ I-NP +groups NNS I-NP +. . O + +But CC O +will MD O +it PRP B-NP +be VB B-VP +enough RB B-ADJP +? . O + +West JJ B-NP +German JJ I-NP +government NN I-NP +officials NNS I-NP +and CC O +Western JJ B-NP +analysts NNS I-NP +are VBP B-VP +doubtful JJ B-ADJP +. . O + +`` `` O +He PRP B-NP +does VBZ B-VP +n't RB I-VP +signify VB I-VP +what WP B-NP +people NNS B-NP +want VBP B-VP +, , O +so RB O +the DT B-NP +unrest NN I-NP +will MD B-VP +go VB I-VP +on IN B-ADVP +, , O +'' '' O +Mr. NNP B-NP +Oldenburg NNP I-NP +predicts VBZ B-VP +. . O + +At IN B-PP +the DT B-NP +same JJ I-NP +time NN I-NP +, , O +the DT B-NP +expectations NNS I-NP +of IN B-PP +the DT B-NP +East JJ I-NP +German JJ I-NP +people NNS I-NP +are VBP B-VP +great JJ B-ADJP +and CC O +will MD B-VP +continue VB I-VP +to TO I-VP +grow VB I-VP +. . O + +Says VBZ B-VP +one CD B-NP +West JJ I-NP +German JJ I-NP +official NN I-NP +: : O +`` `` O +What WP B-NP +'s VBZ B-VP +necessary JJ B-ADJP +now RB B-ADVP +is VBZ B-VP +the DT B-NP +process NN I-NP +of IN B-PP +democratization NN B-NP +. . O + +Not RB B-ADVP +just RB I-ADVP +that IN B-SBAR +people NNS B-NP +are VBP B-VP +being VBG I-VP +heard VBN I-VP +but CC O +that IN B-SBAR +their PRP$ B-NP +interests NNS I-NP +are VBP B-VP +being VBG I-VP +taken VBN I-VP +seriously RB B-ADVP +. . O +'' '' O + +Chancellor NNP B-NP +Kohl NNP I-NP +, , O +meanwhile RB B-ADVP +, , O +has VBZ B-VP +invited VBN I-VP +Mr. NNP B-NP +Krenz NNP I-NP +to TO B-VP +open VB I-VP +discussions NNS B-NP +with IN B-PP +Bonn NNP B-NP +on IN B-PP +a DT B-NP +wide JJ I-NP +range NN I-NP +of IN B-PP +subjects NNS B-NP +. . O + +Reports NNS B-NP +in IN B-PP +the DT B-NP +West JJ I-NP +German JJ I-NP +press NN I-NP +, , O +citing VBG B-VP +sources NNS B-NP +in IN B-PP +East NNP B-NP +Germany NNP I-NP +, , O +suggest VBP B-VP +Mr. NNP B-NP +Krenz NNP I-NP +may MD B-VP +serve VB I-VP +only RB B-ADVP +as IN B-PP +a DT B-NP +bridge NN I-NP +between IN B-PP +Mr. NNP B-NP +Honecker NNP I-NP +and CC O +a DT B-NP +genuine JJ I-NP +reform NN I-NP +leader NN I-NP +. . O + +Adding VBG B-VP +to TO B-PP +that DT B-NP +speculation NN I-NP +is VBZ B-VP +Mr. NNP B-NP +Krenz NNP I-NP +'s POS B-NP +reputation NN I-NP +as IN B-PP +a DT B-NP +heavy JJ I-NP +drinker NN I-NP +, , O +who WP B-NP +is VBZ B-VP +said VBD I-VP +to TO I-VP +also RB I-VP +suffer VB I-VP +from IN B-PP +diabetes NN B-NP +. . O + +`` `` O +This DT B-NP +is VBZ B-VP +a DT B-NP +dynamic JJ I-NP +process NN I-NP +and CC O +we PRP B-NP +'re VBP B-VP +experiencing VBG I-VP +the DT B-NP +first JJ I-NP +step NN I-NP +, , O +'' '' O +the DT B-NP +Bonn NNP I-NP +official NN I-NP +adds VBZ B-VP +. . O + +The DT B-NP +selection NN I-NP +of IN B-PP +Mr. NNP B-NP +Krenz NNP I-NP +may MD B-VP +also RB I-VP +disappoint VB I-VP +Moscow NNP B-NP +. . O + +Soviet JJ B-NP +leader NN I-NP +Mikhail NNP I-NP +Gorbachev NNP I-NP +has VBZ B-VP +pressed VBN I-VP +hard JJ B-ADVP +for IN B-PP +a DT B-NP +change NN I-NP +in IN B-PP +East NNP B-NP +Germany NNP I-NP +'s POS B-NP +rigid JJ I-NP +stance NN I-NP +. . O + +Two CD B-NP +reform-minded JJ I-NP +party NN I-NP +leaders NNS I-NP +favored VBN B-VP +by IN B-PP +Moscow NNP B-NP +as IN B-PP +possible JJ B-NP +successors NNS I-NP +to TO B-PP +Mr. NNP B-NP +Honecker NNP I-NP +, , O +Dresden NNP B-NP +party NN I-NP +secretary NN I-NP +Hans NNP I-NP +Modrow NNP I-NP +and CC O +Politburo NNP B-NP +member NN I-NP +Guenter NNP I-NP +Schabowski NNP I-NP +, , O +were VBD B-VP +passed VBN I-VP +over RB B-ADVP +. . O + +If IN B-SBAR +Mr. NNP B-NP +Krenz NNP I-NP +sticks VBZ B-VP +to TO B-PP +rigid JJ B-NP +policies NNS I-NP +the DT B-NP +pressure NN I-NP +from IN B-PP +the DT B-NP +Soviet NNP I-NP +Union NNP I-NP +could MD B-VP +intensify VB I-VP +. . O + +In IN B-PP +Moscow NNP B-NP +, , O +Mr. NNP B-NP +Gorbachev NNP I-NP +sent VBD B-VP +Mr. NNP B-NP +Krenz NNP I-NP +a DT B-NP +congratulatory JJ I-NP +telegram NN I-NP +that WDT B-NP +appeared VBD B-VP +to TO I-VP +urge VB I-VP +the DT B-NP +new JJ I-NP +leadership NN I-NP +to TO B-VP +heed VB I-VP +growing VBG B-NP +calls VBZ I-NP +for IN B-PP +change NN B-NP +. . O + +According VBG B-PP +to TO B-PP +the DT B-NP +Soviet JJ I-NP +news NN I-NP +agency NN I-NP +Tass NNP B-NP +, , O +`` `` O +Gorbachev NNP B-NP +expressed VBD B-VP +the DT B-NP +conviction NN I-NP +that IN B-SBAR +the DT B-NP +leadership NN I-NP +of IN B-PP +the DT B-NP +Socialist NNP I-NP +Unity NNP I-NP +Party NNP I-NP +of IN B-PP +-LCB- ( B-NP +East NNP I-NP +-RCB- ) I-NP +Germany NNP I-NP +, , O +being VBG B-VP +sensitive JJ B-ADJP +to TO B-PP +the DT B-NP +demands NNS I-NP +of IN B-PP +the DT B-NP +time NN I-NP +, , O +... : O +will MD B-VP +find VB I-VP +solutions NNS B-NP +to TO B-PP +complicated VBN B-NP +problems NNS I-NP +the DT B-NP +GDR NNP I-NP +-LCB- ( O +German JJ B-NP +Democratic NNP I-NP +Republic NNP I-NP +-RCB- ) O +encountered VBN B-VP +. . O +'' '' O + +A DT B-NP +force NN I-NP +of IN B-PP +younger JJR B-NP +pro-Gorbachev JJ I-NP +members NNS I-NP +in IN B-PP +the DT B-NP +East JJ I-NP +German JJ I-NP +bureaucracy NN I-NP +has VBZ B-VP +for IN B-PP +some DT B-NP +time NN I-NP +been VBN B-VP +pushing VBG I-VP +for IN B-PP +relaxation NN B-NP +within IN B-PP +their PRP$ B-NP +country NN I-NP +. . O + +The DT B-NP +older JJR I-NP +generation NN I-NP +has VBZ B-VP +been VBN I-VP +torn VBN I-VP +between IN B-PP +a DT B-NP +fear NN I-NP +of IN B-PP +tampering VBG B-VP +with IN B-PP +the DT B-NP +status NN I-NP +quo FW I-NP +and CC O +a DT B-NP +fear NN I-NP +of IN B-PP +what WP B-NP +might MD B-VP +happen VB I-VP +if IN B-SBAR +they PRP B-NP +did VBD B-VP +n't RB O +. . O + +From IN B-PP +the DT B-NP +perspective NN I-NP +of IN B-PP +East NNP B-NP +Germany NNP I-NP +'s POS B-NP +old JJ I-NP +guard NN I-NP +, , O +reforms NNS B-NP +that IN B-NP +smack RB B-VP +of IN B-PP +capitalism NN B-NP +and CC O +Western-style JJ B-NP +democracy NN I-NP +could MD B-VP +eliminate VB I-VP +their PRP$ B-NP +country NN I-NP +'s POS B-NP +reason NN I-NP +for IN B-PP +being VBG B-NP +. . O + +Unlike IN B-PP +the DT B-NP +other JJ I-NP +nations NNS I-NP +of IN B-PP +the DT B-NP +bloc NN I-NP +, , O +East NNP B-NP +Germany NNP I-NP +is VBZ B-VP +a DT B-NP +creature NN I-NP +of IN B-PP +the DT B-NP +Cold NNP I-NP +War NNP I-NP +. . O + +Erasing VBG B-VP +the DT B-NP +differences NNS I-NP +still RB B-VP +dividing VBG I-VP +Europe NNP B-NP +, , O +and CC O +the DT B-NP +vast JJ I-NP +international JJ I-NP +reordering NN I-NP +that DT B-NP +implies VBZ B-VP +, , O +wo MD B-VP +n't RB I-VP +endanger VB I-VP +the DT B-NP +statehood NN I-NP +of IN B-PP +a DT B-NP +Poland NNP I-NP +or CC O +a DT B-NP +Hungary NNP I-NP +. . O + +But CC O +it PRP B-NP +could MD B-VP +ultimately RB I-VP +lead VB I-VP +to TO B-PP +German JJ B-NP +reunification NN I-NP +and CC O +the DT B-NP +disappearance NN I-NP +of IN B-PP +East NNP B-NP +Germany NNP I-NP +from IN B-PP +the DT B-NP +map NN I-NP +. . O + +Which WDT B-NP +is VBZ B-VP +what WP B-NP +the DT B-NP +Old NNP I-NP +Guard NNP I-NP +fears NNS B-VP +. . O + +`` `` O +I PRP B-NP +'m VBP B-VP +sure JJ B-ADJP +they PRP B-NP +'ll MD B-VP +formulate VB I-VP +a DT B-NP +reform NN I-NP +that WDT B-NP +will MD B-VP +be VB I-VP +a DT B-NP +recipe NN I-NP +for IN B-PP +the DT B-NP +GDR NNP I-NP +'s POS B-NP +future NN I-NP +as IN B-PP +a DT B-NP +separately RB I-NP +identifiable JJ I-NP +state NN I-NP +, , O +'' '' O +says VBZ B-VP +Michael NNP B-NP +Simmons NNP I-NP +, , O +a DT B-NP +British JJ I-NP +journalist NN I-NP +whose WP$ B-NP +book NN I-NP +on IN B-PP +East NNP B-NP +Germany NNP I-NP +, , O +entitled VBN B-VP +`` `` O +The DT B-NP +Unloved NNP I-NP +Country NNP I-NP +, , O +'' '' O +was VBD B-VP +published VBN I-VP +this DT B-NP +month NN I-NP +. . O + +Up IN B-PP +to TO B-PP +now RB B-NP +, , O +that DT B-NP +recipe NN I-NP +has VBZ B-VP +consisted VBN I-VP +of IN B-PP +a DT B-NP +dogged VBN I-NP +effort NN I-NP +by IN B-PP +former JJ B-NP +leader NN I-NP +Walter NNP I-NP +Ulbricht NNP I-NP +to TO B-VP +establish VB I-VP +the DT B-NP +country NN I-NP +'s POS B-NP +international JJ I-NP +legitimacy NN I-NP +, , O +followed VBN B-VP +by IN B-PP +Mr. NNP B-NP +Honecker NNP I-NP +'s POS B-NP +campaign NN I-NP +to TO B-VP +build VB I-VP +the DT B-NP +East NNP I-NP +bloc NN I-NP +'s POS B-NP +only RB I-NP +successful JJ I-NP +Stalinist JJ I-NP +economy NN I-NP +into IN B-PP +a DT B-NP +consumer NN I-NP +paradise NN I-NP +. . O + +Neither CC B-NP +man NN I-NP +achieved VBD B-VP +perfection NN B-NP +. . O + +Early RB B-ADVP +in IN B-PP +1987 CD B-NP +, , O +Mr. NNP B-NP +Honecker NNP I-NP +and CC O +his PRP$ B-NP +team NN I-NP +stopped VBD B-VP +paying VBG I-VP +thin JJ B-NP +compliments NNS I-NP +to TO B-PP +Mr. NNP B-NP +Gorbachev NNP I-NP +and CC O +joined VBD B-VP +with IN B-PP +Romania NNP B-NP +in IN B-PP +rejecting VBG B-VP +any DT B-NP +necessity NN I-NP +for IN B-PP +adjustments NNS B-NP +in IN B-PP +their PRP$ B-NP +systems NNS I-NP +. . O + +The DT B-NP +less-self-confident JJ I-NP +Czechoslovaks NNPS I-NP +and CC I-NP +Bulgarians NNPS I-NP +, , O +in IN B-PP +contrast NN B-NP +, , O +declared VBD B-VP +their PRP$ B-NP +intentions NNS I-NP +to TO B-VP +reform VB I-VP +, , O +while IN B-SBAR +doing VBG B-VP +nothing NN B-NP +concrete JJ B-ADJP +about IN B-PP +it PRP B-NP +. . O + +The DT B-NP +East JJ I-NP +German JJ I-NP +media NNS I-NP +soon RB B-ADVP +began VBD B-VP +presenting VBG I-VP +Mr. NNP B-NP +Gorbachev NNP I-NP +'s POS B-NP +speeches NNS I-NP +only RB B-ADVP +as IN B-PP +sketchy JJ B-NP +summaries NNS I-NP +, , O +and CC O +giving VBG B-VP +space NN B-NP +to TO B-PP +his PRP$ B-NP +opponents NNS I-NP +. . O + +By IN B-PP +late JJ B-NP +1988 CD I-NP +, , O +they PRP B-NP +were VBD B-VP +banning VBG I-VP +Soviet JJ B-NP +publications NNS I-NP +. . O + +The DT B-NP +country NN I-NP +abandoned VBD B-VP +its PRP$ B-NP +former JJ I-NP +devotion NN I-NP +to TO B-PP +socialist JJ B-NP +unity NN I-NP +and CC O +took VBD B-VP +to TO B-PP +insisting VBG B-VP +instead RB B-ADVP +that IN B-SBAR +each DT B-NP +country NN I-NP +in IN B-PP +the DT B-NP +bloc NN I-NP +ought MD B-VP +to TO I-VP +travel VB I-VP +its PRP$ B-NP +own JJ I-NP +road NN I-NP +. . O + +Mr. NNP B-NP +Honecker NNP I-NP +spoke VBD B-VP +of IN B-PP +`` `` O +generally RB B-NP +valid JJ I-NP +objective NN I-NP +laws NNS I-NP +of IN B-PP +socialism NN B-NP +'' '' O +and CC O +left VBD B-VP +no DT B-NP +room NN I-NP +for IN B-PP +debate NN B-NP +. . O + +With IN B-PP +this DT B-NP +year NN I-NP +'s POS B-NP +dislocations NNS I-NP +in IN B-PP +China NNP B-NP +and CC O +the DT B-NP +Soviet NNP I-NP +Union NNP I-NP +, , O +and CC O +the DT B-NP +drive NN I-NP +to TO B-PP +democracy NN B-NP +in IN B-PP +Poland NNP B-NP +and CC I-NP +Hungary NNP I-NP +, , O +the DT B-NP +East JJ I-NP +German JJ I-NP +leadership NN I-NP +grew VBD B-VP +still RB B-ADJP +more RBR I-ADJP +defensive JJ B-ADJP +. . O + +Politburo NNP B-NP +member NN I-NP +Joachim NNP I-NP +Herrman NNP I-NP +confessed VBD B-VP +to TO B-PP +a DT B-NP +`` `` I-NP +grave JJ I-NP +concern NN I-NP +'' '' O +over IN B-PP +Hungarian JJ B-NP +democracy NN I-NP +. . O + +`` `` O +Under IN B-PP +the DT B-NP +banner NN I-NP +that WDT B-NP +proclaims VBZ B-VP +the DT B-NP +` `` I-NP +renewal NN I-NP +of IN B-PP +socialism NN B-NP +, , O +' '' O +'' '' O +he PRP B-NP +said VBD B-VP +, , O +`` `` O +forces NNS B-NP +are VBP B-VP +at IN B-PP +work NN B-NP +that WDT B-NP +are VBP B-VP +striving VBG I-VP +to TO I-VP +eliminate VB I-VP +socialism NN B-NP +. . O +'' '' O + +Some DT B-NP +loyal JJ I-NP +voices NNS I-NP +, , O +in IN B-PP +and CC B-PP +out IN B-PP +of IN B-PP +the DT B-NP +East JJ I-NP +German NNP I-NP +Communist NNP I-NP +party NN I-NP +, , O +saw VBD B-VP +the DT B-NP +nation NN I-NP +'s POS B-NP +unrest NN I-NP +coming VBG B-VP +. . O + +The DT B-NP +first JJ I-NP +signs NNS I-NP +were VBD B-VP +economic JJ B-ADJP +. . O + +Despite IN B-PP +heavily RB B-NP +subsidized JJ I-NP +consumer NN I-NP +industries NNS I-NP +, , O +East NNP B-NP +Germans NNPS I-NP +have VBP B-VP +for IN B-PP +years NNS B-NP +watched VBD B-VP +the DT B-NP +West NNP I-NP +pull NN B-VP +farther RB B-ADVP +out IN I-ADVP +ahead RB I-ADVP +. . O + +In IN B-PP +1988 CD B-NP +, , O +for IN B-PP +the DT B-NP +first JJ I-NP +time NN I-NP +, , O +economic JJ B-NP +growth NN I-NP +came VBD B-VP +to TO B-PP +a DT B-NP +dead JJ I-NP +stop NN I-NP +. . O + +Gingerly RB B-ADVP +, , O +some DT B-NP +economists NNS I-NP +began VBD B-VP +to TO I-VP +blame VB I-VP +central JJ B-NP +planning NN I-NP +. . O + +Some DT B-NP +writers NNS I-NP +in IN B-PP +theoretical JJ B-NP +journals NNS I-NP +even RB B-ADVP +raised VBN B-VP +the DT B-NP +notion NN I-NP +of IN B-PP +introducing VBG B-VP +democracy NN B-NP +, , O +at IN B-ADVP +least JJS I-ADVP +in IN B-PP +the DT B-NP +workplace NN I-NP +. . O + +By IN B-PP +summer NN B-NP +, , O +an DT B-NP +independent JJ I-NP +reform NN I-NP +movement NN I-NP +was VBD B-VP +saying VBG I-VP +out IN B-ADVP +loud JJ I-ADVP +what WP B-NP +it PRP B-NP +had VBD B-VP +only RB I-VP +whispered VBN I-VP +before RB B-ADVP +. . O + +But CC O +they PRP B-NP +are VBP B-VP +stalwart JJ B-NP +socialists NNS I-NP +. . O + +Their PRP$ B-NP +proclaimed VBD I-NP +purpose NN I-NP +is VBZ B-VP +to TO B-VP +cleanse VB I-VP +East NNP B-NP +Germany NNP I-NP +of IN B-PP +its PRP$ B-NP +Stalinist JJ I-NP +muck NN I-NP +, , O +not RB O +to TO B-VP +merge VB I-VP +with IN B-PP +the DT B-NP +West NNP I-NP +. . O + +One CD B-NP +of IN B-PP +their PRP$ B-NP +pastors NNS I-NP +has VBZ B-VP +envisioned VBN I-VP +a DT B-NP +`` `` I-NP +new JJ I-NP +utopia NN I-NP +'' '' O +of IN B-PP +`` `` O +creative JJ B-NP +socialism NN I-NP +. . O +'' '' O + +Meanwhile RB B-ADVP +, , O +the DT B-NP +man NN I-NP +Mr. NNP B-NP +Krenz NNP I-NP +replaces VBZ B-VP +has VBZ B-VP +left VBN I-VP +an DT B-NP +indelible JJ I-NP +mark NN I-NP +on IN B-PP +East JJ B-NP +German JJ I-NP +society NN I-NP +. . O + +Imprisoned VBN B-VP +by IN B-PP +the DT B-NP +Nazis NNPS I-NP +during IN B-PP +World NNP B-NP +War NNP I-NP +II NNP I-NP +for IN B-PP +his PRP$ B-NP +political JJ I-NP +beliefs NNS I-NP +, , O +Mr. NNP B-NP +Honecker NNP I-NP +typified VBD B-VP +the DT B-NP +postwar JJ I-NP +generation NN I-NP +of IN B-PP +committed VBN B-NP +Communist NNP I-NP +leaders NNS I-NP +in IN B-PP +Eastern NNP B-NP +Europe NNP I-NP +who WP B-NP +took VBD B-VP +their PRP$ B-NP +cues NNS I-NP +from IN B-PP +Moscow NNP B-NP +. . O + +He PRP B-NP +was VBD B-VP +a DT B-NP +`` `` I-NP +socialist JJ I-NP +warrior NN I-NP +'' '' O +who WP B-NP +felt VBD B-VP +rankled VBN I-VP +by IN B-PP +West NNP B-NP +Germany NNP I-NP +'s POS B-NP +enormous JJ I-NP +postwar JJ I-NP +prosperity NN I-NP +and CC O +the DT B-NP +Bonn NNP I-NP +government NN I-NP +'s POS B-NP +steadfast JJ I-NP +refusal NN I-NP +to TO B-VP +recognize VB I-VP +the DT B-NP +legitimacy NN I-NP +of IN B-PP +his PRP$ B-NP +state NN I-NP +. . O + +Finally RB B-ADVP +, , O +during IN B-PP +his PRP$ B-NP +first JJ I-NP +and CC I-NP +only JJ I-NP +state NN I-NP +visit NN I-NP +to TO B-PP +Bonn NNP B-NP +two CD B-NP +years NNS I-NP +ago RB B-ADVP +, , O +he PRP B-NP +won VBD B-VP +some DT B-NP +measure NN I-NP +of IN B-PP +the DT B-NP +recognition NN I-NP +he PRP B-NP +had VBD B-VP +long JJ I-VP +sought VBD I-VP +. . O + +But CC O +ultimately RB B-ADVP +he PRP B-NP +was VBD B-VP +undone VBN I-VP +by IN B-PP +forces NNS B-NP +unleashed VBN B-VP +by IN B-PP +his PRP$ B-NP +own JJ I-NP +comrade NN I-NP +, , O +Mr. NNP B-NP +Gorbachev NNP I-NP +. . O + +Mr. NNP B-NP +Honecker NNP I-NP +'s POS B-NP +removal NN I-NP +`` `` O +was VBD B-VP +bound VBN I-VP +to TO I-VP +happen VB I-VP +, , O +'' '' O +says VBZ B-VP +one CD B-NP +aide NN I-NP +to TO B-PP +Chancellor NNP B-NP +Kohl NNP I-NP +. . O + +`` `` O +It PRP B-NP +was VBD B-VP +only RB B-ADVP +a DT B-NP +matter NN I-NP +of IN B-PP +time NN B-NP +. . O +'' '' O + +The DT B-NP +European NNP I-NP +Community NNP I-NP +Commission NNP I-NP +increased VBD B-VP +its PRP$ B-NP +forecast NN I-NP +for IN B-PP +economic JJ B-NP +growth NN I-NP +in IN B-PP +the DT B-NP +EC NNP I-NP +in IN B-PP +1989 CD B-NP +to TO B-PP +3.5 CD B-NP +% NN I-NP +, , O +slightly RB B-ADJP +higher JJR I-ADJP +than IN B-PP +its PRP$ B-NP +June NNP I-NP +projection NN I-NP +of IN B-PP +3.25 CD B-NP +% NN I-NP +. . O + +In IN B-PP +its PRP$ B-NP +annual JJ I-NP +economic JJ I-NP +report NN I-NP +for IN B-PP +1989-1990 CD B-NP +, , O +the DT B-NP +commission NN I-NP +also RB B-ADVP +projected VBD B-VP +1990 CD B-NP +gross JJ I-NP +domestic JJ I-NP +product NN I-NP +growth NN I-NP +for IN B-PP +the DT B-NP +12 CD I-NP +EC NNP I-NP +members NNS I-NP +at IN B-PP +3 CD B-NP +% NN I-NP +. . O + +EC NNP B-NP +inflation NN I-NP +was VBD B-VP +seen VBN I-VP +at IN B-PP +4.8 CD B-NP +% NN I-NP +in IN B-PP +1989 CD B-NP +, , O +higher JJR B-ADJP +than IN B-PP +1988 CD B-NP +'s POS B-NP +3.6 CD B-ADJP +% NN I-ADJP +price NN B-NP +rise NN I-NP +. . O + +However RB B-ADVP +, , O +inflation NN B-NP +for IN B-PP +1990 CD B-NP +was VBD B-VP +seen VBN I-VP +slowing VBG I-VP +to TO B-PP +4.5 CD B-NP +% NN I-NP +. . O + +Leading VBG B-VP +EC NNP B-NP +growth NN I-NP +forecasts NNS I-NP +in IN B-PP +1989 CD B-NP +was VBD B-VP +Ireland NNP B-NP +, , O +seen VBN B-VP +growing VBG I-VP +5 NN B-NP +% NN I-NP +at IN B-PP +constant JJ B-NP +prices NNS I-NP +. . O + +Slower JJR B-NP +growth NN I-NP +countries NNS I-NP +included VBD B-VP +Greece NNP B-NP +, , O +at IN B-PP +2.5 CD B-NP +% NN I-NP +, , O +the DT B-NP +U.K. NNP I-NP +, , O +at IN B-PP +2.25 CD B-NP +% NN I-NP +, , O +and CC O +Denmark NNP B-NP +, , O +at IN B-PP +1.75 CD B-NP +% NN I-NP +. . O + +Inflation NN B-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +be VB I-VP +highest JJS B-ADJP +in IN B-PP +Greece NNP B-NP +, , O +where WRB B-ADVP +it PRP B-NP +is VBZ B-VP +projected VBN I-VP +at IN B-PP +14.25 CD B-NP +% NN I-NP +, , O +and CC O +Portugal NNP B-NP +, , O +at IN B-PP +13 CD B-NP +% NN I-NP +. . O + +At IN B-PP +the DT B-NP +other JJ I-NP +end NN I-NP +of IN B-PP +the DT B-NP +spectrum NN I-NP +, , O +West JJ B-NP +German JJ I-NP +inflation NN I-NP +was VBD B-VP +forecast NN I-VP +at IN B-PP +3 CD B-NP +% NN I-NP +in IN B-PP +1989 CD B-NP +and CC O +2.75 CD B-NP +% NN I-NP +in IN B-PP +1990 CD B-NP +. . O + +Nestle NNP B-NP +Korea NNP I-NP +Ltd. NNP I-NP +opened VBD B-VP +a DT B-NP +coffee NN I-NP +and CC I-NP +non-dairy-creamer NN I-NP +plant NN I-NP +in IN B-PP +Chongju NNP B-NP +, , O +South NNP B-NP +Korea NNP I-NP +. . O + +An DT B-NP +official NN I-NP +at IN B-PP +Nestle NNP B-NP +Korea NNP I-NP +, , O +a DT B-NP +50-50 JJ I-NP +joint JJ I-NP +venture NN I-NP +between IN B-PP +Nestle NNP B-NP +S.A. NNP I-NP +and CC O +the DT B-NP +Doosan NNP I-NP +Group NNP I-NP +, , O +said VBD B-VP +the DT B-NP +new JJ I-NP +facility NN I-NP +will MD B-VP +manufacture VB I-VP +all DT B-NP +types NNS I-NP +of IN B-PP +soluble JJ B-NP +, , I-NP +roasted VBN I-NP +and CC I-NP +ground NN I-NP +coffee NN I-NP +, , O +coffee NN B-NP +mix NN I-NP +and CC O +nondairy JJ B-NP +coffee NN I-NP +creamer NN I-NP +. . O + +The DT B-NP +South JJ I-NP +Korean JJ I-NP +coffee NN I-NP +market NN I-NP +, , O +consisting VBG B-VP +mostly RB B-ADVP +of IN B-PP +instant NN B-NP +coffee NN I-NP +, , O +was VBD B-VP +estimated VBN I-VP +at IN B-PP +about IN B-NP +100 CD I-NP +billion CD I-NP +won VBD I-NP +-LRB- ( O +$ $ B-NP +150.7 CD I-NP +million CD I-NP +-RRB- ) O +last JJ B-NP +year NN I-NP +. . O + +Brands NNP B-NP +made VBN B-VP +by IN B-PP +the DT B-NP +Kraft NNP I-NP +General NNP I-NP +Foods NNPS I-NP +unit NN I-NP +of IN B-PP +Philip NNP B-NP +Morris NNP I-NP +Cos. NNP I-NP +had VBD B-VP +about IN B-NP +95 CD I-NP +% NN I-NP +of IN B-PP +the DT B-NP +market NN I-NP +share NN I-NP +. . O + +Nestle NNP B-NP +currently RB B-ADVP +has VBZ B-VP +only RB B-NP +about IN I-NP +a DT I-NP +2 CD I-NP +% NN I-NP +share NN I-NP +with IN B-PP +its PRP$ O +Taster NNP B-NP +'s POS B-NP +Choice NN I-NP +coffee NN I-NP +. . O + +Poland NNP B-NP +plans VBZ B-VP +to TO I-VP +start VB I-VP +negotiations NNS B-NP +soon RB B-ADVP +on IN B-PP +purchasing VBG B-VP +natural JJ B-NP +gas NN I-NP +from IN B-PP +Iran NNP B-NP +, , O +the DT B-NP +official NN I-NP +Islamic NNP I-NP +Republic NNP I-NP +News NNP I-NP +Agency NNP I-NP +reported VBD B-VP +. . O + +The DT B-NP +agency NN I-NP +said VBD B-VP +Polish NNP B-NP +Prime NNP I-NP +Minister NNP I-NP +Tadeusz NNP I-NP +Mazowiecki NNP I-NP +told VBD B-VP +Iranian NNP B-NP +Deputy NNP I-NP +Foreign NNP I-NP +Minister NNP I-NP +Mahmoud NNP I-NP +Vaezi NNP I-NP +of IN B-PP +Poland NNP B-NP +'s POS B-NP +willingess NN I-NP +to TO B-VP +purchase VB I-VP +the DT B-NP +gas NN I-NP +during IN B-PP +Mr. NNP B-NP +Vaezi NNP I-NP +'s POS B-NP +current JJ I-NP +visit NN I-NP +to TO B-PP +Warsaw NNP B-NP +. . O + +The DT B-NP +agency NN I-NP +did VBD B-VP +n't RB I-VP +mention VB I-VP +possible JJ B-NP +quantities NNS I-NP +and CC O +did VBD B-VP +n't RB I-VP +say VB I-VP +how WRB B-ADVP +the DT B-NP +gas NN I-NP +would MD B-VP +be VB I-VP +delivered VBN I-VP +. . O + +A DT B-NP +Chinese JJ I-NP +official NN I-NP +harshly RB B-VP +criticized VBD I-VP +plans NNS B-NP +to TO B-VP +close VB I-VP +a DT B-NP +British JJ I-NP +naval JJ I-NP +base NN I-NP +in IN B-PP +downtown NN B-NP +Hong NNP I-NP +Kong NNP I-NP +. . O + +Hong NNP B-NP +Kong NNP I-NP +officials NNS I-NP +announced VBD B-VP +last JJ B-NP +week NN I-NP +that IN B-SBAR +the DT B-NP +base NN I-NP +will MD B-VP +be VB I-VP +relocated VBN I-VP +to TO B-PP +a DT B-NP +small JJ I-NP +island NN I-NP +to TO B-VP +allow VB I-VP +downtown NN B-NP +redevelopment NN I-NP +. . O + +But CC O +Beijing NNP B-NP +wants VBZ B-VP +to TO I-VP +use VB I-VP +the DT B-NP +base NN I-NP +for IN B-PP +the DT B-NP +People NNS I-NP +'s POS B-NP +Liberation NNP I-NP +Army NNP I-NP +after IN B-PP +1997 CD B-NP +, , O +when WRB B-ADVP +the DT B-NP +territory NN I-NP +returns NNS B-VP +to TO B-PP +Chinese JJ B-NP +sovereignty NN I-NP +. . O + +Ke NNP B-NP +Zaishuo NNP I-NP +, , O +head NN B-NP +of IN B-PP +China NNP B-NP +'s POS B-NP +delegation NN I-NP +to TO B-PP +a DT B-NP +Chinese-British JJ I-NP +Liaison NNP I-NP +Committee NNP I-NP +on IN B-PP +Hong NNP B-NP +Kong NNP I-NP +, , O +accused VBN B-VP +Britain NNP B-NP +of IN B-PP +trying VBG B-VP +to TO I-VP +impose VB I-VP +a DT B-NP +fait NN I-NP +accompli NN I-NP +and CC O +said VBD B-VP +, , O +`` `` O +This DT B-NP +is VBZ B-VP +something NN B-NP +we PRP B-NP +can MD B-VP +not RB I-VP +accept VB I-VP +. . O +'' '' O + +The DT B-NP +Israeli JJ I-NP +and CC I-NP +Soviet JJ I-NP +national JJ I-NP +airlines NNS I-NP +have VBP B-VP +reached VBN I-VP +preliminary JJ B-NP +agreement NN I-NP +for IN B-PP +launching VBG B-VP +the DT B-NP +first JJ I-NP +direct JJ I-NP +flights NNS I-NP +between IN B-PP +Tel NNP B-NP +Aviv NNP I-NP +and CC O +Moscow NNP B-NP +, , O +a DT B-NP +spokesman NN I-NP +for IN B-PP +the DT B-NP +Israeli JJ I-NP +airline NN I-NP +, , O +El NNP B-NP +Al NNP I-NP +, , O +said VBD B-VP +. . O + +El NNP B-NP +Al NNP I-NP +director NN I-NP +Rafi NNP I-NP +Har-Lev NNP I-NP +and CC O +top JJ B-NP +officials NNS I-NP +of IN B-PP +the DT B-NP +Soviet NNP I-NP +Union NNP I-NP +'s POS B-NP +Aeroflot NNP I-NP +negotiated VBD B-VP +a DT B-NP +preliminary JJ I-NP +pact NN I-NP +in IN B-PP +Moscow NNP B-NP +this DT B-NP +week NN I-NP +, , O +the DT B-NP +spokesman NN I-NP +said VBD B-VP +. . O + +He PRP B-NP +added VBD B-VP +that IN B-SBAR +concluding VBG B-VP +the DT B-NP +deal NN I-NP +requires VBZ B-VP +approval NN B-NP +by IN B-PP +the DT B-NP +governments NNS I-NP +of IN B-PP +both DT B-NP +countries NNS I-NP +, , O +which WDT B-NP +have VBP B-VP +never RB I-VP +had VBN I-VP +direct JJ B-NP +air NN I-NP +links NNS I-NP +. . O + +The DT B-NP +chairman NN I-NP +and CC O +a DT B-NP +director NN I-NP +of IN B-PP +one CD B-NP +of IN B-PP +the DT B-NP +Republic NNP I-NP +of IN B-PP +Singapore NNP B-NP +'s POS B-NP +leading VBG I-NP +property NN I-NP +companies NNS I-NP +, , O +City NNP B-NP +Development NNP I-NP +Ltd. NNP I-NP +, , O +or CC O +CDL NNP B-NP +, , O +were VBD B-VP +charged VBN I-VP +yesterday NN B-NP +with IN B-PP +criminal JJ B-NP +breach NN I-NP +of IN B-PP +trust NN B-NP +of IN B-PP +some DT B-NP +800,000 CD I-NP +Singapore NNP I-NP +dollars NNS I-NP +-LRB- ( O +about IN B-NP +US$ $ I-NP +409,000 CD I-NP +-RRB- ) O +. . O + +Kwek NNP B-NP +Hong NNP I-NP +Png NNP I-NP +, , O +chairman NN B-NP +of IN B-PP +CDL NNP B-NP +, , O +and CC O +director NN B-NP +Quek NNP I-NP +Leng NNP I-NP +Chye NNP I-NP +were VBD B-VP +arrested VBN I-VP +by IN B-PP +the DT B-NP +republic NN I-NP +'s POS B-NP +Corrupt NNP I-NP +Practices NNP I-NP +Investigation NNP I-NP +Bureau NNP I-NP +Tuesday NNP B-NP +night NN I-NP +. . O + +In IN B-PP +addition NN B-NP +to TO B-PP +abetting VBG B-VP +in IN B-PP +the DT B-NP +alleged VBN I-NP +criminal JJ I-NP +breach NN I-NP +of IN B-PP +trust NN B-NP +, , O +Kwek NNP B-NP +Hong NNP I-NP +Png NNP I-NP +was VBD B-VP +also RB I-VP +charged VBN I-VP +with IN B-PP +dishonestly RB B-VP +receiving VBG I-VP +S$ $ B-NP +500,000 CD I-NP +that WDT B-NP +had VBD B-VP +been VBN I-VP +stolen VBN I-VP +. . O + +Both DT B-NP +men NNS I-NP +were VBD B-VP +charged VBN I-VP +in IN B-PP +a DT B-NP +subordinate JJ I-NP +court NN I-NP +and CC O +released VBN B-VP +on IN B-PP +bail NN B-NP +of IN B-PP +S$ $ B-NP +1 CD I-NP +million CD I-NP +. . O + +The DT B-NP +charges NNS I-NP +are VBP B-VP +the DT B-NP +culmination NN I-NP +of IN B-PP +weeks NNS B-NP +of IN B-PP +rumors NNS B-NP +concerning VBG B-VP +CDL NNP B-NP +that WDT B-NP +have VBP B-VP +depressed VBD I-VP +the DT B-NP +company NN I-NP +'s POS B-NP +share NN I-NP +price NN I-NP +and CC O +to TO B-PP +a DT B-NP +lesser JJR I-NP +extent NN I-NP +the DT B-NP +shares NNS I-NP +of IN B-PP +all DT B-NP +companies NNS I-NP +owned VBN B-VP +by IN B-PP +CDL NNP B-NP +'s POS B-NP +controlling VBG I-NP +Quek NNP I-NP +family NN I-NP +, , O +brokers NNS B-NP +in IN B-PP +Singapore NNP B-NP +say VBP B-VP +. . O + +The DT B-NP +Queks NNPS I-NP +control NN B-VP +the DT B-NP +Hong NNP I-NP +Leong NNP I-NP +Group NNP I-NP +, , O +which WDT B-NP +has VBZ B-VP +widespread JJ B-NP +interests NNS I-NP +in IN B-PP +manufacturing NN B-NP +, , I-NP +property NN I-NP +and CC I-NP +finance NN I-NP +in IN B-PP +both DT B-NP +Malaysia NNP I-NP +and CC I-NP +Singapore NNP I-NP +. . O + +News NNS B-NP +of IN B-PP +the DT B-NP +arrest NN I-NP +and CC I-NP +charging VBG I-NP +of IN B-PP +the DT B-NP +two CD I-NP +men NNS I-NP +helped VBD B-VP +to TO I-VP +push VB I-VP +prices NNS B-NP +on IN B-PP +the DT B-NP +Singapore NNP I-NP +Stock NNP I-NP +market NN I-NP +sharply RB B-ADJP +lower JJR I-ADJP +in IN B-PP +early JJ B-NP +trading NN I-NP +yesterday NN B-NP +, , O +but CC O +brokers NNS B-NP +said VBD B-VP +that IN B-SBAR +the DT B-NP +market NN I-NP +and CC O +CDL NNP B-NP +shares NNS I-NP +recovered VBD B-VP +once RB B-SBAR +it PRP B-NP +became VBD B-VP +apparent JJ B-ADJP +the DT B-NP +charges NNS I-NP +were VBD B-VP +limited JJ I-VP +to TO B-PP +the DT B-NP +two CD I-NP +men NNS I-NP +personally RB B-ADVP +. . O + +One CD B-NP +of IN B-PP +the DT B-NP +two CD I-NP +British JJ I-NP +companies NNS I-NP +still RB B-VP +making VBG I-VP +hard JJ B-NP +toilet NN I-NP +paper NN I-NP +stopped VBD B-VP +production NN B-NP +of IN B-PP +it PRP B-NP +. . O + +British JJ B-NP +Tissues NNPS I-NP +decided VBD B-VP +to TO I-VP +do VB I-VP +away RB B-ADVP +with IN B-PP +its PRP$ B-NP +hard JJ I-NP +paper NN I-NP +after IN B-SBAR +a DT B-NP +major JJ I-NP +customer NN I-NP +, , O +British NNP B-NP +Rail NNP I-NP +, , O +switched VBD B-VP +to TO B-PP +softer JJR B-NP +tissues NNS I-NP +for IN B-PP +train NN B-NP +bathrooms NNS I-NP +... : O +. . O + +Peasants NNS B-NP +in IN B-PP +Inner NNP B-NP +Mongolia NNP I-NP +have VBP B-VP +partly RB I-VP +dismantled VBN I-VP +a DT B-NP +20-mile JJ I-NP +section NN I-NP +of IN B-PP +China NNP B-NP +'s POS B-NP +famed JJ I-NP +Great NNP I-NP +Wall NNP I-NP +, , O +the DT O +official JJ O +People NNS B-NP +'s POS B-NP +Daily NNP I-NP +said VBD B-VP +. . O + +The DT B-NP +paper NN I-NP +said VBD B-VP +the DT B-NP +bricks NNS I-NP +were VBD B-VP +used VBN I-VP +to TO B-VP +build VB I-VP +homes NNS B-NP +and CC I-NP +furnaces NNS I-NP +and CC O +, , O +as IN B-PP +a DT B-NP +result NN I-NP +, , O +the DT B-NP +wall NN I-NP +`` `` O +is VBZ B-VP +in IN B-PP +terrible JJ B-NP +shape NN I-NP +. . O + +Wednesday NNP B-NP +, , O +October NNP B-NP +18 CD I-NP +, , I-NP +1989 CD I-NP + +The DT B-NP +key JJ I-NP +U.S. NNP I-NP +and CC I-NP +foreign JJ I-NP +annual JJ I-NP +interest NN I-NP +rates NNS I-NP +below IN B-ADVP +are VBP B-VP +a DT B-NP +guide NN I-NP +to TO B-PP +general JJ B-NP +levels NNS I-NP +but CC O +do VBP B-VP +n't RB I-VP +always RB I-VP +represent VB I-VP +actual JJ B-NP +transactions NNS I-NP +. . O + +PRIME JJ B-NP +RATE NN I-NP +: : O +10 CD B-NP +1\/2 CD I-NP +% NN I-NP +. . O + +The DT B-NP +base NN I-NP +rate NN I-NP +on IN B-PP +corporate JJ B-NP +loans NNS I-NP +at IN B-PP +large JJ B-NP +U.S. NNP I-NP +money NN I-NP +center NN I-NP +commercial JJ I-NP +banks NNS I-NP +. . O + +FEDERAL JJ B-NP +FUNDS NNS I-NP +: : O +8 CD B-NP +15\/16 CD I-NP +% NN I-NP +high JJ B-ADJP +, , O +8 CD B-NP +5\/8 CD I-NP +% NN I-NP +low JJ B-ADJP +, , O +8 CD B-NP +3\/4 CD I-NP +% NN I-NP +near IN B-PP +closing VBG B-NP +bid NN I-NP +, , O +8 CD B-NP +7\/8 CD I-NP +% NN I-NP +offered VBN B-VP +. . O + +Reserves NNS B-NP +traded VBN B-VP +among IN B-PP +commercial JJ B-NP +banks NNS I-NP +for IN B-PP +overnight JJ B-NP +use NN I-NP +in IN B-PP +amounts NNS B-NP +of IN B-PP +$ $ B-NP +1 CD I-NP +million CD I-NP +or CC I-NP +more JJR I-NP +. . O + +Source NN B-NP +: : O +Fulton NNP B-NP +Prebon NNP I-NP +-LRB- ( O +U.S.A NNP O +. . O +-RRB- ) O +Inc NNP B-NP +. . O + +DISCOUNT NN B-NP +RATE NN I-NP +: : O +7 CD B-NP +% NN I-NP +. . O + +The DT B-NP +charge NN I-NP +on IN B-PP +loans NNS B-NP +to TO B-PP +depository NN B-NP +institutions NNS I-NP +by IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Federal NNP I-NP +Reserve NNP I-NP +Bank NNP I-NP +. . O + +CALL NN B-NP +MONEY NN I-NP +: : O +9 CD B-NP +3\/4 CD I-NP +% NN I-NP +to TO O +10 CD B-NP +% NN I-NP +. . O + +The DT B-NP +charge NN I-NP +on IN B-PP +loans NNS B-NP +to TO B-PP +brokers NNS B-NP +on IN B-PP +stock NN B-NP +exchange NN I-NP +collateral NN I-NP +. . O + +COMMERCIAL JJ B-NP +PAPER NN I-NP +placed VBN B-VP +directly RB B-ADVP +by IN B-PP +General NNP B-NP +Motors NNPS I-NP +Acceptance NNP I-NP +Corp. NNP I-NP +: : O +8.45 CD B-NP +% NN I-NP +30 CD B-NP +to TO I-NP +44 CD I-NP +days NNS I-NP +; : O +8.25 CD B-NP +% NN I-NP +45 CD B-NP +to TO I-NP +74 CD I-NP +days NNS I-NP +; : O +8.30 CD B-NP +% NN I-NP +75 CD B-NP +to TO I-NP +99 CD I-NP +days NNS I-NP +; : O +7.75 CD B-NP +% NN I-NP +100 CD B-NP +to TO I-NP +179 CD I-NP +days NNS I-NP +; : O +7.50 CD B-NP +% NN I-NP +180 CD B-NP +to TO I-NP +270 CD I-NP +days NNS I-NP +. . O + +COMMERCIAL JJ B-NP +PAPER NN I-NP +: : O +High-grade JJ B-NP +unsecured JJ I-NP +notes NNS I-NP +sold VBN B-VP +through IN B-PP +dealers NNS B-NP +by IN B-PP +major JJ B-NP +corporations NNS I-NP +in IN B-PP +multiples NNS B-NP +of IN B-PP +$ $ B-NP +1,000 CD I-NP +: : O +8.55 CD B-NP +% NN I-NP +30 CD B-NP +days NNS I-NP +; : O +8.45 CD B-NP +% NN I-NP +60 CD B-NP +days NNS I-NP +; : O +8.375 CD B-NP +% NN I-NP +90 CD B-NP +days NNS I-NP +. . O + +CERTIFICATES NNS B-NP +OF IN B-PP +DEPOSIT NN B-NP +: : O +8.05 CD B-NP +% NN I-NP +one CD B-NP +month NN I-NP +; : O +8.02 CD B-NP +% NN I-NP +two CD B-NP +months NNS I-NP +; : O +8 CD B-NP +% NN I-NP +three CD B-NP +months NNS I-NP +; : O +7.98 CD B-NP +% NN I-NP +six CD B-NP +months NNS I-NP +; : O +7.95 CD B-NP +% NN I-NP +one CD B-NP +year NN I-NP +. . O + +Average NNP B-NP +of IN B-PP +top JJ B-NP +rates NNS I-NP +paid VBN B-VP +by IN B-PP +major JJ B-NP +New NNP I-NP +York NNP I-NP +banks NNS I-NP +on IN B-PP +primary JJ B-NP +new JJ I-NP +issues NNS I-NP +of IN B-PP +negotiable JJ B-NP +C.D.s NNS I-NP +, , O +usually RB B-ADVP +on IN B-PP +amounts NNS B-NP +of IN B-PP +$ $ B-NP +1 CD I-NP +million CD I-NP +and CC I-NP +more JJR I-NP +. . O + +The DT B-NP +minimum JJ I-NP +unit NN I-NP +is VBZ B-VP +$ $ B-NP +100,000 CD I-NP +. . O + +Typical JJ B-NP +rates NNS I-NP +in IN B-PP +the DT B-NP +secondary JJ I-NP +market NN I-NP +: : O +8.53 CD B-NP +% NN I-NP +one CD B-NP +month NN I-NP +; : O +8.48 CD B-NP +% NN I-NP +three CD B-NP +months NNS I-NP +; : O +8.40 CD B-NP +% NN I-NP +six CD B-NP +months NNS I-NP +. . O + +BANKERS NNS B-NP +ACCEPTANCES NNS I-NP +: : O +8.42 CD B-NP +% NN I-NP +30 CD B-NP +days NNS I-NP +; : O +8.30 CD B-NP +% NN I-NP +60 CD B-NP +days NNS I-NP +; : O +8.28 CD B-NP +% NN I-NP +90 CD B-NP +days NNS I-NP +; : O +8.15 CD B-NP +% NN I-NP +120 CD B-NP +days NNS I-NP +; : O +8.05 CD B-NP +% NN I-NP +150 CD B-NP +days NNS I-NP +; : O +7.95 CD B-NP +% NN I-NP +180 CD B-NP +days NNS I-NP +. . O + +Negotiable JJ B-NP +, , I-NP +bank-backed JJ I-NP +business NN I-NP +credit NN I-NP +instruments NNS I-NP +typically RB B-VP +financing VBG I-VP +an DT B-NP +import NN I-NP +order NN I-NP +. . O + +LONDON NNP B-NP +LATE JJ I-NP +EURODOLLARS NNS I-NP +: : O +8 CD B-NP +11\/16 CD I-NP +% NN I-NP +to TO O +8 CD B-NP +9\/16 CD I-NP +% NN I-NP +one CD B-NP +month NN I-NP +; : O +8 CD B-NP +5\/8 CD I-NP +% NN I-NP +to TO O +8 CD B-NP +1\/2 CD I-NP +% NN I-NP +two CD B-NP +months NNS I-NP +; : O +8 CD B-NP +5\/8 CD I-NP +% NN I-NP +to TO O +8 CD B-NP +1\/2 CD I-NP +% NN I-NP +three CD B-NP +months NNS I-NP +; : O +8 CD B-NP +9\/16 CD I-NP +% NN I-NP +to TO O +8 CD B-NP +7\/16 CD I-NP +% NN I-NP +four CD B-NP +months NNS I-NP +; : O +8 CD B-NP +1\/2 CD I-NP +% NN I-NP +to TO O +8 CD B-NP +3\/8 CD I-NP +% NN I-NP +five CD B-NP +months NNS I-NP +; : O +8 CD B-NP +1\/2 CD I-NP +% NN I-NP +to TO O +8 CD B-NP +3\/8 CD I-NP +% NN I-NP +six CD B-NP +months NNS I-NP +. . O + +LONDON NNP B-NP +INTERBANK NNP I-NP +OFFERED NNP I-NP +RATES NNS I-NP +-LRB- ( O +LIBOR NNP B-NP +-RRB- ) O +: : O +8 CD B-NP +11\/16 CD I-NP +% NN I-NP +one CD B-NP +month NN I-NP +; : O +8 CD B-NP +11\/16 CD I-NP +% NN I-NP +three CD B-NP +months NNS I-NP +; : O +8 CD B-NP +1\/2 CD I-NP +% NN I-NP +six CD B-NP +months NNS I-NP +; : O +8 CD B-NP +1\/2 CD I-NP +% NN I-NP +one CD B-NP +year NN I-NP +. . O + +The DT B-NP +average NN I-NP +of IN B-PP +interbank NN B-NP +offered VBD I-NP +rates NNS I-NP +for IN B-PP +dollar NN B-NP +deposits NNS I-NP +in IN B-PP +the DT B-NP +London NNP I-NP +market NN I-NP +based VBN B-PP +on IN B-PP +quotations NNS B-NP +at IN B-PP +five CD B-NP +major JJ I-NP +banks NNS I-NP +. . O + +FOREIGN JJ B-NP +PRIME JJ I-NP +RATES NNS I-NP +: : O +Canada NNP B-NP +13.50 CD B-NP +% NN I-NP +; : O +Germany NNP B-NP +8.50 CD B-NP +% NN I-NP +; : O +Japan NNP B-NP +4.875 CD B-NP +% NN I-NP +; : O +Switzerland NNP B-NP +8.50 CD B-NP +% NN I-NP +; : O +Britain NNP B-NP +15 CD B-NP +% NN I-NP +. . O + +These DT B-NP +rate NN I-NP +indications NNS I-NP +are VBP B-VP +n't RB O +directly RB B-ADJP +comparable JJ I-ADJP +; : O +lending NN B-NP +practices NNS I-NP +vary VBP B-VP +widely RB B-ADVP +by IN B-PP +location NN B-NP +. . O + +TREASURY NN B-NP +BILLS NNS I-NP +: : O +Results NNS B-NP +of IN B-PP +the DT B-NP +Monday NNP I-NP +, , I-NP +October NNP I-NP +16 CD I-NP +, , I-NP +1989 CD I-NP +, , I-NP +auction NN I-NP +of IN B-PP +short-term NNP B-NP +U.S. NNP I-NP +government NN I-NP +bills NNS I-NP +, , O +sold VBN B-VP +at IN B-PP +a DT B-NP +discount NN I-NP +from IN B-PP +face NN B-NP +value NN I-NP +in IN B-PP +units NNS B-NP +of IN B-PP +$ $ B-NP +10,000 CD I-NP +to TO O +$ $ B-NP +1 CD I-NP +million CD I-NP +: : O +7.37 CD B-NP +% NN I-NP +13 CD B-NP +weeks NNS I-NP +; : O +7.42 CD B-NP +% NN I-NP +26 CD B-NP +weeks NNS I-NP +. . O + +FEDERAL NNP B-NP +HOME NNP I-NP +LOAN NNP I-NP +MORTGAGE NNP I-NP +CORP NNP I-NP +. . O +-LRB- ( O +Freddie NNP B-NP +Mac NNP I-NP +-RRB- ) O +: : O + +Posted VBN B-NP +yields NNS I-NP +on IN B-PP +30-year JJ B-NP +mortgage NN I-NP +commitments NNS I-NP +for IN B-PP +delivery NN B-NP +within IN B-PP +30 CD B-NP +days NNS I-NP +. . O + +9.88 CD B-NP +% NN I-NP +, , O +standard JJ B-NP +conventional JJ I-NP +fixed-rate JJ I-NP +mortgages NNS I-NP +; : O +7.875 CD B-NP +% NN I-NP +, , O +2 CD B-NP +% NN I-NP +rate NN I-NP +capped VBD I-NP +one-year JJ I-NP +adjustable JJ I-NP +rate NN I-NP +mortgages NNS I-NP +. . O + +Source NN B-NP +: : O +Telerate NNP B-NP +Systems NNP I-NP +Inc NNP I-NP +. . O + +FEDERAL NNP B-NP +NATIONAL NNP I-NP +MORTGAGE NNP I-NP +ASSOCIATION NNP I-NP +-LRB- ( O +Fannie NNP B-NP +Mae NNP I-NP +-RRB- ) O +: : O + +Posted VBN B-NP +yields NNS I-NP +on IN B-PP +30 CD B-NP +year NN I-NP +mortgage NN I-NP +commitments NNS I-NP +for IN B-PP +delivery NN B-NP +within IN B-PP +30 CD B-NP +days NNS I-NP +-LRB- ( O +priced VBN B-VP +at IN B-PP +par NN B-NP +-RRB- ) O +9.83 CD B-NP +% NN I-NP +, , O +standard JJ B-NP +conventional JJ I-NP +fixed-rate JJ I-NP +mortgages NNS I-NP +; : O +8.70 CD B-NP +% NN I-NP +, , O +6\/2 CD B-NP +rate NN I-NP +capped VBD I-NP +one-year JJ I-NP +adjustable JJ I-NP +rate NN I-NP +mortgages NNS I-NP +. . O + +Source NN B-NP +: : O +Telerate NNP B-NP +Systems NNP I-NP +Inc NNP I-NP +. . O + +MERRILL NNP B-NP +LYNCH NNP I-NP +READY NNP I-NP +ASSETS NNP I-NP +TRUST NNP I-NP +: : O +8.50 CD B-NP +% NN I-NP +. . O + +Annualized VBN B-NP +average JJ I-NP +rate NN I-NP +of IN B-PP +return NN B-NP +after IN B-PP +expenses NNS B-NP +for IN B-PP +the DT B-NP +past JJ I-NP +30 CD I-NP +days NNS I-NP +; : B-NP +not RB I-NP +a DT B-NP +forecast NN I-NP +of IN B-PP +future NN B-NP +returns NNS I-NP +. . O + +A DT B-NP +grand JJ I-NP +jury NN I-NP +here RB B-ADVP +indicted VBD B-VP +Norton NNP B-NP +Co. NNP I-NP +'s POS B-NP +former JJ I-NP +director NN I-NP +of IN B-PP +advanced-ceramics NN B-NP +research NN I-NP +, , O +charging VBG B-VP +him PRP B-NP +with IN B-PP +interstate JJ B-NP +transportation NN I-NP +of IN B-PP +stolen VBN B-NP +property NN I-NP +. . O + +Norton NNP B-NP +and CC O +General NNP B-NP +Electric NNP I-NP +Co. NNP I-NP +last JJ B-NP +month NN I-NP +filed VBD B-VP +a DT B-NP +lawsuit NN I-NP +against IN B-PP +the DT B-NP +former JJ I-NP +research NN I-NP +manager NN I-NP +, , O +Chien-Min NNP B-NP +Sung NNP I-NP +, , O +charging VBG B-VP +him PRP B-NP +with IN B-PP +stealing VBG B-VP +trade NN B-NP +secrets NNS I-NP +. . O + +Mr. NNP B-NP +Sung NNP I-NP +formerly RB B-ADVP +worked VBD B-VP +at IN B-PP +General NNP B-NP +Electric NNP I-NP +in IN B-PP +research NN B-NP +on IN B-PP +synthetic JJ B-NP +diamonds NNS I-NP +. . O + +The DT B-NP +criminal JJ I-NP +charges NNS I-NP +brought VBN B-VP +against IN B-PP +him PRP B-NP +involved VBD B-VP +GE NNP B-NP +technology NN I-NP +, , O +according VBG B-PP +the DT B-NP +court NN I-NP +documents NNS I-NP +. . O + +If IN B-SBAR +convicted VBN B-VP +, , O +he PRP B-NP +could MD B-VP +be VB I-VP +imprisoned VBN I-VP +for IN B-PP +up IN B-NP +to TO I-NP +10 CD I-NP +years NNS I-NP +and CC O +fined VBN B-VP +$ $ B-NP +250,000 CD I-NP +. . O + +Mr. NNP B-NP +Sung NNP I-NP +could MD B-VP +n't RB I-VP +be VB I-VP +reached VBN I-VP +for IN B-PP +comment NN B-NP +. . O + +He PRP B-NP +earlier RBR B-ADVP +denied VBN B-VP +the DT B-NP +allegations NNS I-NP +against IN B-PP +him PRP B-NP +in IN B-PP +the DT B-NP +lawsuit NN I-NP +by IN B-PP +Norton NNP B-NP +and CC I-NP +GE NNP I-NP +. . O + +Norton NNP B-NP +makes VBZ B-VP +sandpaper NN B-NP +and CC O +other JJ B-NP +abrasives NNS I-NP +, , O +diamond NN B-NP +tools NNS I-NP +, , O +specialty NN B-NP +plastics NNS I-NP +and CC O +ceramics NNS B-NP +. . O + +As IN B-SBAR +the DT B-NP +citizens NNS I-NP +of IN B-PP +San NNP B-NP +Francisco NNP I-NP +and CC O +surrounding VBG B-NP +communities NNS I-NP +began VBD B-VP +assessing VBG I-VP +the DT B-NP +damage NN I-NP +from IN B-PP +Tuesday NNP B-NP +'s POS B-NP +devastating JJ I-NP +earthquake NN I-NP +, , O +NBC NNP B-NP +News NNP I-NP +began VBD B-VP +assessing VBG I-VP +the DT B-NP +damage NN I-NP +from IN B-PP +what WP B-NP +some DT B-NP +said VBD B-VP +was VBD B-VP +a DT B-NP +failure NN I-NP +to TO B-VP +provide VB I-VP +comprehensive JJ B-NP +coverage NN I-NP +in IN B-PP +the DT B-NP +earthquake NN I-NP +'s POS B-NP +initial JJ I-NP +moments NNS I-NP +. . O + +`` `` O +In IN B-PP +terms NNS B-NP +of IN B-PP +coverage NN B-NP +, , O +it PRP B-NP +was VBD B-VP +a DT B-NP +disaster NN I-NP +equal JJ B-ADJP +to TO B-PP +the DT B-NP +earthquakes NNS I-NP +, , O +'' '' O +said VBD B-VP +Eric NNP B-NP +Premner NNP I-NP +, , O +president NN B-NP +for IN B-PP +broadcasting NN B-NP +of IN B-PP +King NNP B-NP +Broadcasting NNP I-NP +Co. NNP I-NP +, , O +which WDT B-NP +owns VBZ B-VP +the DT B-NP +NBC NNP I-NP +affiliate NN I-NP +in IN B-PP +Seattle NNP B-NP +, , O +Wash NNP B-NP +. . O + +While IN B-SBAR +rival JJ B-NP +ABC NNP I-NP +News NNP I-NP +outstripped NN B-VP +the DT B-NP +competition NN I-NP +in IN B-PP +live VB B-NP +coverage NN I-NP +of IN B-PP +the DT B-NP +event NN I-NP +by IN B-PP +sheer JJ B-NP +luck NN I-NP +-- : O +the DT B-NP +network NN I-NP +was VBD B-VP +broadcasting VBG I-VP +the DT B-NP +World NNP I-NP +Series NNP I-NP +from IN B-PP +Candlestick NNP B-NP +Park NNP I-NP +when WRB B-ADVP +the DT B-NP +quake NN I-NP +struck VBD B-VP +-- : O +NBC NNP B-NP +News NNP I-NP +was VBD B-VP +unable JJ B-ADJP +to TO B-VP +get VB I-VP +its PRP$ B-NP +signal NN I-NP +out IN B-PP +of IN B-PP +San NNP B-NP +Francisco NNP I-NP +for IN B-PP +the DT B-NP +first JJ I-NP +hour NN I-NP +after IN B-PP +the DT B-NP +quake NN I-NP +. . O + +`` `` O +I PRP B-NP +have VBP B-VP +to TO I-VP +attribute VB I-VP +the DT B-NP +lackluster JJ I-NP +performance NN I-NP +to TO B-PP +a DT B-NP +natural JJ I-NP +disaster NN I-NP +, , O +'' '' O +said VBD B-VP +Mr. NNP B-NP +Premner NNP I-NP +. . O + +`` `` O +So RB O +before IN B-SBAR +I PRP B-NP +start VBP B-VP +to TO I-VP +be VB I-VP +really RB B-ADJP +critical JJ I-ADJP +of IN B-PP +NBC NNP B-NP +, , O +I PRP B-NP +would MD B-VP +like VB I-VP +to TO I-VP +know VB I-VP +more JJR B-NP +about IN B-PP +what WP B-NP +happened VBD B-VP +. . O +'' '' O + +There EX B-NP +were VBD B-VP +no DT B-NP +complaints NNS I-NP +from IN B-PP +affiliates NNS B-NP +of IN B-PP +CBS NNP B-NP +Inc. NNP I-NP +and CC O +Cable NNP B-NP +News NNP I-NP +Network NNP I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +Turner NNP B-NP +Broadcasting NNP I-NP +System NNP I-NP +Inc NNP I-NP +. . O + +But CC O +that DT B-NP +was VBD B-VP +not RB O +the DT B-NP +case NN I-NP +at IN B-PP +NBC NNP B-NP +News NNP I-NP +, , O +which WDT B-NP +has VBZ B-VP +been VBN I-VP +dogged VBN I-VP +with IN B-PP +the DT B-NP +image NN I-NP +of IN B-PP +not RB B-VP +being VBG I-VP +aggressive JJ B-ADJP +on IN B-PP +major JJ B-NP +breaking NN I-NP +stories NNS I-NP +. . O + +Last JJ B-NP +summer NN I-NP +, , O +the DT B-NP +affiliates NNS I-NP +bitterly RB B-VP +complained VBD I-VP +to TO B-PP +network VB B-NP +executives NNS I-NP +about IN B-PP +the DT B-NP +poor JJ I-NP +coverage NN I-NP +of IN B-PP +the DT B-NP +student NN I-NP +uprising NN I-NP +in IN B-PP +China NNP B-NP +. . O + +`` `` O +I PRP B-NP +was VBD B-VP +not RB I-VP +pleased VBN I-VP +with IN B-PP +the DT B-NP +slow JJ I-NP +start NN I-NP +, , O +and CC O +neither DT B-ADVP +was VBD O +NBC NNP B-NP +News NNP I-NP +, , O +'' '' O +said VBD B-VP +Guy NNP B-NP +Hempel NNP I-NP +, , O +general JJ B-NP +manager NN I-NP +of IN B-PP +NBC NNP B-NP +affiliate NN I-NP +WAVE NNP I-NP +in IN B-PP +Louisville NNP B-NP +, , O +Ky NNP B-NP +. . O + +A DT B-NP +spokesman NN I-NP +for IN B-PP +National NNP B-NP +Broadcasting NNP I-NP +Co. NNP I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +General NNP B-NP +Electric NNP I-NP +Co. NNP I-NP +, , O +said VBD B-VP +the DT B-NP +network NN I-NP +was VBD B-VP +`` `` O +looking VBG B-VP +into IN B-PP +what WP B-NP +happened VBD B-VP +. . O +'' '' O + +The DT B-NP +stations NNS I-NP +said VBD B-VP +they PRP B-NP +were VBD B-VP +pleased VBN I-VP +with IN B-PP +the DT B-NP +extended VBN I-NP +coverage NN I-NP +yesterday NN B-NP +, , O +including VBG B-PP +a DT B-NP +special JJ I-NP +five-hour JJ I-NP +edition NN I-NP +of IN B-PP +`` `` O +Today NN B-NP +. . O +'' '' O + +Don NNP B-NP +Browne NNP I-NP +, , O +director NN B-NP +of IN B-PP +news NN B-NP +at IN B-PP +NBC NNP B-NP +News NNP I-NP +, , O +said VBD B-VP +in IN B-PP +an DT B-NP +interview NN I-NP +that IN B-SBAR +`` `` O +we PRP B-NP +could MD B-VP +n't RB I-VP +get VB I-VP +a DT B-NP +signal NN I-NP +out IN B-PP +of IN B-PP +San NNP B-NP +Francisco NNP I-NP +. . O + +We PRP B-NP +were VBD B-VP +out IN B-PP +of IN B-PP +the DT B-NP +box NN I-NP +. . O + +It PRP B-NP +was VBD B-VP +horrible JJ B-ADJP +. . O + +The DT B-NP +comment NN I-NP +we PRP B-NP +'re VBP B-VP +hearing VBG I-VP +is VBZ B-VP +that IN B-SBAR +we PRP B-NP +were VBD B-VP +slow JJ B-ADJP +out IN B-PP +of IN B-PP +the DT B-NP +box NN I-NP +, , O +but CC O +beat VB B-VP +everyone NN B-NP +else RB B-ADJP +in IN B-PP +the DT B-NP +stretch NN I-NP +. . O +'' '' O + +NBC NNP B-NP +broadcast NN B-VP +throughout IN B-PP +the DT B-NP +entire JJ I-NP +night NN I-NP +and CC O +did VBD B-VP +not RB I-VP +go VB I-VP +off IN B-PP +the DT B-NP +air NN I-NP +until IN B-PP +noon NN B-NP +yesterday NN B-NP +. . O + +The DT B-NP +quake NN I-NP +postponed VBD B-VP +the DT B-NP +third JJ I-NP +and CC I-NP +fourth JJ I-NP +games NNS I-NP +of IN B-PP +the DT B-NP +World NNP I-NP +Series NNP I-NP +. . O + +In IN B-PP +place NN B-NP +of IN B-PP +the DT B-NP +games NNS I-NP +, , O +ABC NNP B-NP +said VBD B-VP +it PRP B-NP +planned VBD B-VP +to TO I-VP +broadcast VB I-VP +next JJ B-NP +week NN I-NP +'s POS B-NP +episodes NNS I-NP +of IN B-PP +its PRP$ B-NP +prime-time JJ I-NP +Wednesday NNP I-NP +and CC I-NP +Thursday NNP I-NP +lineups NNS I-NP +, , O +except IN B-PP +for IN B-PP +a DT B-NP +one-hour JJ I-NP +special NN I-NP +on IN B-PP +the DT B-NP +earthquake NN I-NP +at IN B-PP +10 CD B-NP +p.m. NN I-NP +last JJ B-NP +night NN I-NP +. . O + +The DT B-NP +series NN I-NP +is VBZ B-VP +scheduled VBN I-VP +to TO I-VP +resume VB I-VP +Tuesday NNP B-NP +evening NN I-NP +in IN B-PP +San NNP B-NP +Francisco NNP I-NP +. . O + +`` `` O +There EX B-NP +are VBP B-VP +no DT B-NP +commercials NNS I-NP +to TO B-VP +make VB I-VP +up IN B-PRT +for IN B-PP +since IN B-SBAR +we PRP B-NP +'re VBP B-VP +going VBG I-VP +to TO I-VP +eventually RB I-VP +broadcast NN I-VP +the DT B-NP +World NNP I-NP +Series NNP I-NP +, , O +'' '' O +said VBD B-VP +a DT B-NP +network NN I-NP +spokesman NN I-NP +. . O + +Pinnacle NNP B-NP +West NNP I-NP +Capital NNP I-NP +Corp. NNP I-NP +said VBD B-VP +it PRP B-NP +suspended VBD B-VP +indefinitely RB B-ADVP +its PRP$ B-NP +common JJ I-NP +stock NN I-NP +dividend NN I-NP +and CC O +reported VBD B-VP +a DT B-NP +91 CD I-NP +% NN I-NP +plunge NN I-NP +in IN B-PP +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +. . O + +The DT B-NP +announcement NN I-NP +, , O +made VBN B-VP +after IN B-PP +the DT B-NP +close NN I-NP +of IN B-PP +trading NN B-NP +, , O +caught VBN B-VP +analysts NNS B-NP +by IN B-PP +surprise NN B-NP +. . O + +The DT B-NP +company NN I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +12 CD I-NP +a DT B-NP +share NN I-NP +, , O +down RB B-ADVP +62.5 CD B-NP +cents NNS I-NP +, , O +in IN B-PP +composite JJ B-NP +trading NN I-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +. . O + +Pinnacle NNP B-NP +West NNP I-NP +slashed VBD B-VP +its PRP$ B-NP +quarterly JJ I-NP +dividend NN I-NP +to TO B-PP +40 CD B-NP +cents NNS I-NP +per IN B-PP +share NN B-NP +from IN B-PP +70 CD B-NP +cents NNS I-NP +in IN B-PP +December NNP B-NP +, , O +saying VBG B-VP +at IN B-PP +the DT B-NP +time NN I-NP +that IN B-SBAR +it PRP B-NP +believed VBD B-VP +the DT B-NP +new JJ I-NP +, , I-NP +lower JJR I-NP +dividend NN I-NP +was VBD B-VP +`` `` O +sustainable JJ B-ADJP +. . O +'' '' O + +A DT B-NP +company NN I-NP +spokesman NN I-NP +said VBD B-VP +the DT B-NP +decision NN I-NP +to TO B-VP +eliminate VB I-VP +the DT B-NP +dividend NN I-NP +resulted VBD B-VP +from IN B-PP +a DT B-NP +quarterly JJ I-NP +appraisal NN I-NP +and CC O +that IN B-SBAR +circumstances NNS B-NP +had VBD B-VP +changed VBN I-VP +since IN B-PP +the DT B-NP +December NNP I-NP +announcement NN I-NP +. . O + +He PRP B-NP +declined VBD B-VP +to TO I-VP +elaborate VB I-VP +. . O + +Edward NNP B-NP +J. NNP I-NP +Tirello NNP I-NP +Jr. NNP I-NP +, , O +an DT B-NP +analyst NN I-NP +at IN B-PP +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +Inc. NNP I-NP +, , O +speculated VBD B-VP +that IN B-SBAR +the DT B-NP +sudden JJ I-NP +dividend NN I-NP +elimination NN I-NP +presages VBZ B-VP +an DT B-NP +expensive JJ I-NP +agreement NN I-NP +with IN B-PP +thrift NN B-NP +regulators NNS I-NP +over IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +insolvent JJ I-NP +MeraBank NNP I-NP +savings NNS I-NP +and CC I-NP +loan NN I-NP +unit NN I-NP +. . O + +Analysts NNS B-NP +have VBP B-VP +estimated VBN I-VP +that IN B-SBAR +Pinnacle NNP B-NP +West NNP I-NP +may MD B-VP +have VB I-VP +to TO I-VP +inject VB I-VP +between IN B-NP +$ $ I-NP +300 CD I-NP +million CD I-NP +and CC I-NP +$ $ I-NP +400 CD I-NP +million CD I-NP +into IN B-PP +the DT B-NP +MeraBank NNP I-NP +unit NN I-NP +before IN B-PP +turning VBG B-VP +the DT B-NP +thrift NN I-NP +over IN B-PRT +to TO B-PP +federal JJ B-NP +regulators NNS I-NP +. . O + +The DT B-NP +latest JJS I-NP +financial JJ I-NP +results NNS I-NP +at IN B-PP +the DT B-NP +troubled JJ I-NP +utility NN I-NP +and CC I-NP +thrift NN I-NP +holding VBG I-NP +company NN I-NP +, , O +based VBN B-VP +in IN B-PP +Phoenix NNP B-NP +, , O +Ariz. NNP B-NP +, , O +reflect VB B-VP +continuing VBG B-NP +problems NNS I-NP +at IN B-PP +MeraBank NNP B-NP +and CC O +losses NNS B-NP +in IN B-PP +real-estate NN B-NP +, , I-NP +venture-capital NN I-NP +and CC I-NP +uranium-mining NN I-NP +operations NNS I-NP +. . O + +Third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +slid VBD B-VP +to TO B-PP +$ $ B-NP +5.1 CD I-NP +million CD I-NP +, , O +or CC O +six CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +56 CD I-NP +million CD I-NP +, , O +or CC O +65 CD B-NP +cents NNS I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Utility NN B-NP +operations NNS I-NP +, , O +the DT B-NP +only JJ I-NP +company NN I-NP +unit NN I-NP +operating VBG B-VP +in IN B-PP +the DT B-NP +black NN I-NP +in IN B-PP +the DT B-NP +latest JJS I-NP +period NN I-NP +, , O +had VBD B-VP +a DT B-NP +26 CD I-NP +% NN I-NP +drop NN I-NP +in IN B-PP +profit NN B-NP +, , O +to TO B-PP +$ $ B-NP +86.3 CD I-NP +million CD I-NP +, , O +largely RB B-ADVP +as IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +outages NNS B-NP +at IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +huge JJ I-NP +Palo NNP I-NP +Verde NNP I-NP +nuclear JJ I-NP +facility NN I-NP +and CC O +the DT B-NP +cost NN I-NP +of IN B-PP +purchased VBN B-NP +replacement NN I-NP +power NN I-NP +. . O + +In IN B-PP +other JJ B-NP +operations NNS I-NP +, , O +losses NNS B-NP +at IN B-PP +MeraBank NNP B-NP +totaled VBD B-VP +$ $ B-NP +85.7 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +latest JJS I-NP +quarter NN I-NP +, , O +compared VBN B-PP +with IN B-PP +a DT B-NP +$ $ I-NP +2.5 CD I-NP +million CD I-NP +profit NN I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +The DT B-NP +latest JJS I-NP +quarter NN I-NP +includes VBZ B-VP +a DT B-NP +$ $ I-NP +42.7 CD I-NP +million CD I-NP +addition NN I-NP +to TO B-PP +loan-loss NN B-NP +reserves NNS I-NP +. . O + +As RB B-ADVP +recently RB I-ADVP +as IN B-PP +August NNP B-NP +, , O +the DT B-NP +company NN I-NP +said VBD B-VP +it PRP B-NP +did VBD B-VP +n't RB I-VP +foresee VB I-VP +a DT B-NP +need NN I-NP +for IN B-PP +substantial JJ B-NP +additions NNS I-NP +to TO B-PP +reserves NNS B-NP +. . O + +Pinnacle NNP B-NP +'s POS B-NP +SunCor NNP I-NP +Development NNP I-NP +Co NNP I-NP +. . I-NP +real-estate NN I-NP +unit NN I-NP +'s POS B-NP +loss NN I-NP +narrowed VBD B-VP +to TO B-PP +$ $ B-NP +13.8 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +78.4 CD I-NP +million CD I-NP +. . O + +The DT B-NP +latest JJS I-NP +period NN I-NP +included VBD B-VP +a DT B-NP +$ $ I-NP +9 CD I-NP +million CD I-NP +write-down NN I-NP +on IN B-PP +undeveloped JJ B-NP +land NN I-NP +, , O +while IN B-SBAR +the DT B-NP +year-earlier JJ I-NP +period NN I-NP +included VBD B-VP +a DT B-NP +$ $ I-NP +46 CD I-NP +million CD I-NP +reserve NN I-NP +for IN B-PP +real-estate NN B-NP +losses NNS I-NP +. . O + +Losses NNS B-NP +at IN B-PP +its PRP$ B-NP +Malapai NNP I-NP +Resources NNP I-NP +Co NNP I-NP +. . I-NP +uranium-mining NN I-NP +unit NN I-NP +narrowed VBD B-VP +to TO B-PP +$ $ B-NP +3.4 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +18 CD I-NP +million CD I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +, , O +which WDT B-NP +included VBD B-VP +a DT B-NP +$ $ I-NP +9 CD I-NP +million CD I-NP +write-down NN I-NP +of IN B-PP +utility NN B-NP +inventories NNS I-NP +. . O + +Losses NNS B-NP +at IN B-PP +El NNP B-NP +Dorado NNP I-NP +Investment NNP I-NP +Co. NNP I-NP +, , O +the DT B-NP +venture-capital JJ I-NP +operation NN I-NP +, , O +widened VBD B-VP +to TO B-PP +$ $ B-NP +6.8 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +425,000 CD I-NP +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +The DT B-NP +latest JJS I-NP +quarter NN I-NP +included VBD B-VP +a DT B-NP +$ $ I-NP +6.6 CD I-NP +million CD I-NP +write-down NN I-NP +of IN B-PP +investments NNS B-NP +. . O + +Equitec NNP B-NP +Financial NNP I-NP +Group NNP I-NP +said VBD B-VP +it PRP B-NP +will MD B-VP +ask VB I-VP +as RB B-NP +many JJ I-NP +as IN I-NP +100,000 CD I-NP +investors NNS I-NP +in IN B-PP +12 CD B-NP +of IN B-PP +its PRP$ B-NP +public JJ I-NP +real-estate NN I-NP +limited JJ I-NP +partnerships NNS I-NP +to TO B-VP +give VB I-VP +approval NN B-NP +to TO B-PP +rolling VBG B-VP +them PRP B-NP +up IN B-PRT +into IN B-PP +a DT B-NP +new JJ I-NP +master NN I-NP +limited JJ I-NP +partnership NN I-NP +. . O + +Under IN B-PP +the DT B-NP +proposal NN I-NP +by IN B-PP +Equitec NNP B-NP +, , O +a DT B-NP +financially RB I-NP +troubled JJ I-NP +real-estate NN I-NP +syndicator NN I-NP +, , O +New NNP B-NP +York-based JJ I-NP +Hallwood NNP I-NP +Group NNP I-NP +Inc. NNP I-NP +would MD B-VP +replace VB I-VP +Equitec NNP B-NP +as IN B-PP +the DT B-NP +newly RB I-NP +formed VBN I-NP +master NN I-NP +limited JJ I-NP +partnership NN I-NP +'s POS B-NP +general JJ I-NP +partner NN I-NP +and CC I-NP +manager NN I-NP +. . O + +Shares NNS B-NP +of IN B-PP +the DT B-NP +new JJ I-NP +partnership NN I-NP +would MD B-VP +trade VB I-VP +on IN B-PP +an DT B-NP +exchange NN I-NP +like IN B-PP +a DT B-NP +stock NN I-NP +. . O + +Hallwood NNP B-NP +is VBZ B-VP +a DT B-NP +merchant NN I-NP +bank NN I-NP +whose WP$ B-NP +activities NNS I-NP +include VBP B-VP +the DT B-NP +ownership NN I-NP +, , I-NP +management NN I-NP +and CC I-NP +financial JJ I-NP +restructuring NN I-NP +of IN B-PP +shopping NN B-NP +centers NNS I-NP +, , O +office NN B-NP +buildings NNS I-NP +, , O +apartments NNS B-NP +and CC O +other JJ B-NP +real JJ I-NP +estate NN I-NP +. . O + +In IN B-PP +a DT B-NP +statement NN I-NP +, , O +Equitec NNP B-NP +Chairman NNP I-NP +Richard NNP I-NP +L. NNP I-NP +Saalfeld NNP I-NP +said VBD B-VP +the DT B-NP +transfer NN I-NP +will MD B-VP +benefit VB I-VP +both DT B-NP +the DT B-NP +company NN I-NP +and CC O +investors NNS B-NP +in IN B-PP +the DT B-NP +12 CD I-NP +limited JJ I-NP +partnerships NNS I-NP +included VBD B-VP +in IN B-PP +the DT B-NP +proposed VBN I-NP +rollup NN I-NP +. . O + +While IN B-SBAR +he PRP B-NP +did VBD B-VP +n't RB I-VP +describe VB I-VP +the DT B-NP +partnerships NNS I-NP +' POS B-NP +financial JJ I-NP +condition NN I-NP +, , O +he PRP B-NP +said VBD B-VP +their PRP$ B-NP +operations NNS I-NP +`` `` O +continue VB B-VP +to TO I-VP +drain VB I-VP +the DT B-NP +resources NNS I-NP +of IN B-PP +Equitec NNP B-NP +. . O +'' '' O + +Equitec NNP B-NP +posted VBD B-VP +a DT B-NP +$ $ I-NP +3.3 CD I-NP +million CD I-NP +net JJ I-NP +loss NN I-NP +in IN B-PP +the DT B-NP +second JJ I-NP +quarter NN I-NP +on IN B-PP +$ $ B-NP +11.8 CD I-NP +million CD I-NP +of IN B-PP +revenue NN B-NP +, , O +compared VBN B-PP +with IN B-PP +a DT B-NP +net JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +12.9 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +year-earlier JJ I-NP +period NN I-NP +on IN B-PP +revenue NN B-NP +of IN B-PP +$ $ B-NP +9.1 CD I-NP +million CD I-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +, , O +Equitec NNP B-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +2.625 CD I-NP +a DT B-NP +share NN I-NP +, , O +unchanged JJ B-ADJP +. . O + +Because IN B-PP +of IN I-PP +Tuesday NNP B-NP +'s POS B-NP +earthquake NN I-NP +in IN B-PP +Northern NNP B-NP +California NNP I-NP +, , O +company NN B-NP +officials NNS I-NP +could MD B-VP +n't RB I-VP +immediately RB I-VP +be VB I-VP +reached VBN I-VP +for IN B-PP +additional JJ B-NP +comment NN I-NP +. . O + +A DT B-NP +spokesman NN I-NP +for IN B-PP +Hallwood NNP B-NP +said VBD B-VP +the DT B-NP +12 CD I-NP +limited JJ I-NP +partnerships NNS I-NP +, , O +which WDT B-NP +were VBD B-VP +marketed VBN I-VP +by IN B-PP +brokerage NN B-NP +firms NNS I-NP +and CC O +financial JJ B-NP +planners NNS I-NP +between IN B-PP +1979 CD B-NP +and CC I-NP +1984 CD I-NP +, , O +raised VBN B-VP +several JJ B-NP +hundred CD I-NP +million CD I-NP +dollars NNS I-NP +from IN B-PP +investors NNS B-NP +. . O + +With IN B-SBAR +airline NN B-NP +deals NNS I-NP +in IN B-PP +a DT B-NP +tailspin NN I-NP +, , O +legendary JJ B-NP +Wall NNP I-NP +Street NNP I-NP +trader NN I-NP +Michael NNP I-NP +Steinhardt NNP I-NP +could MD B-VP +have VB I-VP +trouble NN B-NP +parachuting VBG B-VP +out IN B-PP +of IN B-PP +USAir NNP B-NP +Group NNP I-NP +, , O +traders NNS B-NP +say VBP B-VP +. . O + +Only RB B-NP +a DT I-NP +week NN I-NP +ago RB B-ADVP +, , O +when WRB B-ADVP +airline NN B-NP +buy-out NN I-NP +fever NN I-NP +was VBD B-VP +already RB I-VP +winding VBG I-VP +down RB B-ADVP +, , O +Mr. NNP B-NP +Steinhardt NNP I-NP +was VBD B-VP +engaged VBN B-ADJP +in IN B-PP +a DT B-NP +duel NN I-NP +with IN B-PP +USAir NNP B-NP +. . O + +He PRP B-NP +was VBD B-VP +threatening VBG I-VP +to TO I-VP +take VB I-VP +over IN B-PRT +the DT B-NP +carrier NN I-NP +, , O +after IN B-PP +spending VBG B-VP +an DT B-NP +estimated VBN I-NP +$ $ I-NP +167 CD I-NP +million CD I-NP +to TO B-VP +build VB I-VP +an DT B-NP +8.4 CD I-NP +% NN I-NP +USAir NNP I-NP +stake NN I-NP +for IN B-PP +his PRP$ B-NP +investment NN I-NP +clients NNS I-NP +. . O + +The DT B-NP +would-be JJ I-NP +raider NN I-NP +even RB B-VP +hired VBD I-VP +an DT B-NP +investment NN I-NP +banker NN I-NP +to TO B-VP +give VB I-VP +teeth NNS B-NP +to TO B-PP +his PRP$ B-NP +takeover NN I-NP +threat NN I-NP +, , O +which WDT B-NP +was VBD B-VP +widely RB I-VP +interpreted VBN I-VP +as IN B-PP +an DT B-NP +effort NN I-NP +to TO B-VP +flush VB I-VP +out RP B-PRT +an DT B-NP +acquirer NN I-NP +for IN B-PP +USAir NNP B-NP +, , B-PP +or CC I-PP +for IN B-PP +his PRP$ B-NP +own JJ I-NP +stake NN I-NP +. . O + +In IN B-PP +fighting VBG B-VP +USAir NNP B-NP +, , O +Mr. NNP B-NP +Steinhardt NNP I-NP +was VBD B-VP +pitted VBN I-VP +against IN B-PP +another DT B-NP +investor NN I-NP +, , O +billionnaire NN B-NP +Warren NNP I-NP +Buffett NNP I-NP +, , O +who WP B-NP +bought VBD B-VP +into IN B-PP +USAir NNP B-NP +to TO B-VP +help VB I-VP +fend VB I-VP +off IN B-PRT +Mr. NNP B-NP +Steinhardt NNP I-NP +. . O + +Mr. NNP B-NP +Buffett NNP I-NP +'s POS B-NP +firm NN I-NP +, , O +Berkshire NNP B-NP +Hathaway NNP I-NP +, , O +holds VBZ B-VP +a DT B-NP +much RB I-NP +bigger JJR I-NP +stake NN I-NP +in IN B-PP +the DT B-NP +carrier NN I-NP +than IN B-PP +Mr. NNP B-NP +Steinhardt NNP I-NP +'s POS B-NP +firm NN I-NP +, , O +Steinhardt NNP B-NP +Partners NNPS I-NP +. . O + +Now RB B-ADVP +, , O +in IN B-PP +the DT B-NP +wake NN I-NP +of IN B-PP +UAL NNP B-NP +'s POS B-NP +troubles NNS I-NP +in IN B-PP +financing VBG B-VP +its PRP$ B-NP +buy-out NN I-NP +, , O +the DT B-NP +airline NN I-NP +raiding VBG I-NP +game NN I-NP +has VBZ B-VP +been VBN I-VP +grounded VBN I-VP +. . O + +Instead RB B-PP +of IN I-PP +hoping VBG B-VP +to TO I-VP +sell VB I-VP +his PRP$ B-NP +USAir NNP I-NP +stake NN I-NP +at IN B-PP +analysts NNS B-NP +' POS B-NP +estimated VBN I-NP +buy-out NN I-NP +price NN I-NP +of IN B-PP +$ $ B-NP +80 CD I-NP +a DT B-NP +share NN I-NP +, , O +Mr. NNP B-NP +Steinhardt NNP I-NP +is VBZ B-VP +stuck VBN I-VP +with IN B-PP +roughly RB B-NP +3.7 CD I-NP +million CD I-NP +USAir NNP I-NP +shares VBZ I-NP +that DT B-NP +cost NN B-VP +him PRP B-NP +$ $ B-NP +45 CD I-NP +, , O +on IN B-PP +average JJ B-NP +, , O +but CC O +yesterday NN B-NP +closed VBD B-VP +at IN B-PP +40 CD B-NP +1\/2 CD I-NP +, , O +up IN B-ADVP +1\/4 CD B-NP +, , O +in IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +. . O + +`` `` O +It PRP B-NP +does VBZ B-VP +n't RB I-VP +make VB I-VP +sense NN B-NP +to TO B-VP +parachute VB I-VP +out IN B-ADVP +at IN B-PP +this DT B-NP +price NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Steinhardt NNP I-NP +says VBZ B-VP +, , O +though IN B-SBAR +he PRP B-NP +has VBZ B-VP +stopped VBN I-VP +his PRP$ B-NP +takeover NN I-NP +talk NN I-NP +and CC O +now RB B-VP +commends VBZ I-VP +USAir NNP B-NP +managers NNS I-NP +' POS B-NP +`` `` I-NP +operating VBG I-NP +skills NNS I-NP +. . O +'' '' O + +At IN B-PP +the DT B-NP +current JJ I-NP +price NN I-NP +, , O +the DT B-NP +USAir NNP I-NP +holding VBG I-NP +represents VBZ B-VP +9 CD B-NP +% NN I-NP +of IN B-PP +all PDT B-NP +the DT I-NP +assets NNS I-NP +that IN B-NP +Mr. NNP B-NP +Steinhardt NNP I-NP +manages VBZ B-VP +. . O + +A DT B-NP +week NN I-NP +ago RB B-ADVP +, , O +USAir NNP B-NP +stock NN I-NP +briefly NN B-ADVP +soared VBD B-VP +above IN B-PP +52 CD B-NP +after IN B-PP +a DT B-NP +report NN I-NP +in IN B-PP +USA NNP B-NP +Today NN I-NP +that IN B-SBAR +Mr. NNP B-NP +Steinhardt NNP I-NP +might MD B-VP +launch VB I-VP +a DT B-NP +hostile JJ I-NP +bid NN I-NP +for IN B-PP +the DT B-NP +carrier NN I-NP +, , O +though IN B-SBAR +takeover NN B-NP +speculators NNS I-NP +say VBP B-VP +they PRP B-NP +were VBD B-VP +skeptical JJ B-ADJP +. . O + +`` `` O +If IN B-SBAR +USAir NNP B-NP +is VBZ B-VP +worth JJ B-ADJP +80 CD B-NP +as IN B-PP +a DT B-NP +takeover NN I-NP +and CC O +the DT B-NP +stock NN I-NP +went VBD B-VP +to TO B-PP +52 CD B-NP +, , O +the DT B-NP +market NN I-NP +was VBD B-VP +saying VBG I-VP +Steinhardt NNP B-NP +'s POS B-NP +presence NN I-NP +was VBD B-VP +n't RB O +worth JJ B-ADJP +anything NN B-NP +, , O +in IN B-PP +terms NNS B-NP +of IN B-PP +getting VBG B-VP +a DT B-NP +deal NN I-NP +done VBN B-ADJP +, , O +'' '' O +says VBZ B-VP +a DT B-NP +veteran NN I-NP +takeover NN I-NP +speculator NN I-NP +. . O + +Traders NNS B-NP +say VBP B-VP +this DT B-NP +all DT O +goes VBZ B-VP +to TO I-VP +show VB I-VP +that IN B-SBAR +even RB B-NP +the DT I-NP +smartest JJS I-NP +money NN I-NP +manager NN I-NP +can MD B-VP +get VB I-VP +infected VBN I-VP +with IN B-PP +crowd NN B-NP +passions NNS I-NP +. . O + +In IN B-PP +trying VBG B-VP +to TO I-VP +raid VB I-VP +USAir NNP B-NP +, , O +Mr. NNP B-NP +Steinhardt NNP I-NP +abandoned VBD B-VP +his PRP$ B-NP +usual JJ I-NP +role NN I-NP +as IN B-PP +a DT B-NP +passive JJ I-NP +investor NN I-NP +, , O +and CC O +ran VBD B-VP +into IN B-PP +snags NNS B-NP +. . O + +Moreover RB B-ADVP +, , O +unlike IN B-PP +Mr. NNP B-NP +Buffett NNP I-NP +, , O +who WP B-NP +often RB B-ADVP +holds VBZ B-VP +big JJ B-NP +stakes NNS I-NP +in IN B-PP +companies NNS B-NP +for IN B-PP +years NNS B-NP +, , O +Mr. NNP B-NP +Steinhardt NNP I-NP +has VBZ B-VP +n't RB O +in IN B-PP +the DT B-NP +past RB I-NP +done VBN B-VP +much JJ B-NP +long-term JJ I-NP +investing NN I-NP +. . O + +Mr. NNP B-NP +Steinhardt NNP I-NP +, , O +who WP B-NP +runs VBZ B-VP +about RB B-NP +$ $ I-NP +1.7 CD I-NP +billion CD I-NP +for IN B-PP +Steinhardt NNP B-NP +Partners NNPS I-NP +, , O +made VBD B-VP +his PRP$ B-NP +name NN I-NP +as IN B-PP +a DT B-NP +gunslinging VBG I-NP +trader NN I-NP +, , O +moving VBG B-VP +in IN B-PP +and CC B-PP +out RP B-PP +of IN B-PP +stocks NNS B-NP +with IN B-PP +agility NN B-NP +-- : O +enriching VBG B-VP +himself PRP B-NP +and CC O +his PRP$ B-NP +investment NN I-NP +clients NNS I-NP +. . O + +Meanwhile RB B-ADVP +, , O +his PRP$ B-NP +big JJ I-NP +losses NNS I-NP +, , O +for IN B-PP +instance NN B-NP +in IN B-PP +1987 CD B-NP +'s POS B-NP +crash NN I-NP +, , O +generally RB B-ADVP +have VBP B-VP +been VBN I-VP +trading NN B-NP +losses NNS I-NP +. . O + +So RB O +, , O +some DT B-NP +see VB B-VP +a DT B-NP +special JJ I-NP +irony NN I-NP +in IN B-PP +the DT B-NP +fact NN I-NP +that IN B-SBAR +Mr. NNP B-NP +Steinhardt NNP I-NP +, , O +the DT B-NP +trader NN I-NP +, , O +now RB B-ADVP +is VBZ B-VP +encumbered VBN I-VP +with IN B-PP +a DT B-NP +massive JJ I-NP +, , I-NP +illiquid JJ I-NP +airline NN I-NP +holding VBG I-NP +. . O + +Analysts NNS B-NP +say VBP B-VP +USAir NNP B-NP +stock NN I-NP +might MD B-VP +lose VB I-VP +four CD B-NP +or CC I-NP +five CD I-NP +points NNS I-NP +if IN B-SBAR +the DT B-NP +Steinhardt NNP I-NP +stake NN I-NP +was VBD B-VP +dumped VBN I-VP +all DT B-ADVP +at IN I-ADVP +once RB I-ADVP +. . O + +As IN B-PP +a DT B-NP +result NN I-NP +, , O +Mr. NNP B-NP +Steinhardt NNP I-NP +must MD B-VP +reconcile VB I-VP +himself PRP B-NP +to TO B-PP +selling VBG B-VP +USAir NNP B-NP +at IN B-PP +a DT B-NP +loss NN I-NP +, , B-PP +or CC I-PP +to TO B-PP +holding VBG B-VP +the DT B-NP +shares NNS I-NP +as IN B-PP +an DT B-NP +old-fashioned JJ I-NP +investment NN I-NP +. . O + +`` `` O +Long-term JJ B-NP +investing NN I-NP +-- : O +that DT B-NP +'s VBZ B-VP +not RB O +Steinhardt NNP B-NP +'s POS B-NP +style NN I-NP +, , O +'' '' O +chuckles VBZ B-VP +an DT B-NP +investor NN I-NP +who WP B-NP +once RB B-ADVP +worked VBD B-VP +at IN B-PP +Steinhardt NNP B-NP +Partners NNPS I-NP +. . O + +`` `` O +He PRP B-NP +does VBZ B-VP +n't RB I-VP +usually RB I-VP +risk VBP I-VP +that IN B-NP +much JJ I-NP +unless IN B-SBAR +he PRP B-NP +thinks VBZ B-VP +he PRP B-NP +has VBZ B-VP +an DT B-NP +ace NN I-NP +in IN B-PP +the DT B-NP +hole NN I-NP +, , O +'' '' O +adds VBZ B-VP +another DT B-NP +Steinhardt NNP I-NP +Partners NNPS I-NP +alumnus NN I-NP +. . O + +In IN B-PP +recent JJ B-NP +days NNS I-NP +, , O +traders NNS B-NP +say VBP B-VP +USAir NNP B-NP +has VBZ B-VP +been VBN I-VP +buying VBG I-VP +its PRP$ B-NP +own JJ I-NP +shares NNS I-NP +, , O +as IN B-PP +part NN B-NP +of IN B-PP +a DT B-NP +program NN I-NP +to TO B-VP +retire VB I-VP +about IN B-NP +eight CD I-NP +million CD I-NP +USAir NNP I-NP +shares NNS I-NP +, , O +though IN B-SBAR +the DT B-NP +carrier NN I-NP +wo MD B-VP +n't RB I-VP +discuss VB I-VP +its PRP$ B-NP +buy-back NN I-NP +program NN I-NP +. . O + +If IN B-SBAR +USAir NNP B-NP +stepped VBD B-VP +up IN B-PRT +its PRP$ B-NP +share NN I-NP +purchases NNS I-NP +, , O +that WDT B-NP +might MD B-VP +be VB I-VP +a DT B-NP +way NN I-NP +for IN B-SBAR +Mr. NNP B-NP +Steinhardt NNP I-NP +to TO B-VP +get VB I-VP +out IN B-ADVP +, , O +says VBZ B-VP +Timothy NNP B-NP +Pettee NNP I-NP +, , O +a DT B-NP +Merrill NNP I-NP +Lynch NNP I-NP +analyst NN I-NP +. . O + +But CC O +USAir NNP B-NP +might MD B-VP +not RB I-VP +want VB I-VP +to TO I-VP +help VB I-VP +Mr. NNP B-NP +Steinhardt NNP I-NP +, , O +he PRP B-NP +adds VBZ B-VP +. . O + +In IN B-PP +1987 CD B-NP +, , O +USAir NNP B-NP +Chairman NNP I-NP +Edwin NNP I-NP +Colodny NNP I-NP +stonewalled VBD B-VP +when WRB B-ADVP +Trans NNP B-NP +World NNP I-NP +Airlines NNP I-NP +Chairman NNP I-NP +Carl NNP I-NP +Icahn NNP I-NP +threatened VBD B-VP +to TO I-VP +take VB I-VP +over IN B-PRT +the DT B-NP +carrier NN I-NP +. . O + +Mr. NNP B-NP +Icahn NNP I-NP +, , O +a DT O +much RB B-ADVP +more RBR I-ADVP +practiced VBN B-NP +raider NN I-NP +than IN B-PP +Mr. NNP B-NP +Steinhardt NNP I-NP +, , O +eventually RB B-ADVP +sold VBN B-VP +a DT B-NP +big JJ I-NP +USAir NNP I-NP +stake NN I-NP +at IN B-PP +a DT B-NP +tiny JJ I-NP +profit NN I-NP +through IN B-PP +Bear NNP B-NP +, , I-NP +Stearns NNP I-NP +. . O + +Mr. NNP B-NP +Steinhardt NNP I-NP +also RB B-ADVP +could MD B-VP +take VB I-VP +that DT B-NP +route NN I-NP +. . O + +He PRP B-NP +confers VBZ B-VP +big JJ B-NP +trading NN I-NP +commissions NNS I-NP +on IN B-PP +Wall NNP B-NP +Street NNP I-NP +firms NNS I-NP +. . O + +However RB B-ADVP +, , O +with IN B-PP +airline NN B-NP +stocks NNS I-NP +cratering VBG B-VP +, , O +he PRP B-NP +might MD B-VP +not RB I-VP +get VB I-VP +a DT B-NP +very RB I-NP +good JJ I-NP +price NN I-NP +for IN B-PP +his PRP$ B-NP +shares NNS I-NP +, , O +traders NNS B-NP +say VBP B-VP +. . O + +Especially RB B-ADJP +galling JJ I-ADJP +for IN B-PP +Mr. NNP B-NP +Steinhardt NNP I-NP +, , O +say VBP B-VP +people NNS B-NP +close VBP B-ADJP +to TO B-PP +him PRP B-NP +, , O +is VBZ B-VP +that IN B-SBAR +USAir NNP B-NP +'s POS B-NP +Mr. NNP I-NP +Colodny NNP I-NP +wo MD B-VP +n't RB I-VP +even RB I-VP +take VB I-VP +his PRP$ B-NP +telephone NN I-NP +calls NNS I-NP +. . O + +While IN B-SBAR +USAir NNP B-NP +is VBZ B-VP +n't RB I-VP +considered VBN I-VP +absolutely RB B-ADJP +takeover-proof JJ I-ADJP +, , O +its PRP$ B-NP +defenses NNS I-NP +, , O +including VBG B-PP +the DT B-NP +sale NN I-NP +in IN B-PP +August NNP B-NP +of IN B-PP +a DT B-NP +12 CD I-NP +% NN I-NP +stake NN I-NP +in IN B-PP +the DT B-NP +company NN I-NP +to TO B-PP +Mr. NNP B-NP +Buffett NNP I-NP +'s POS B-NP +Berkshire NNP I-NP +Hathaway NNP I-NP +, , O +are VBP B-VP +pretty RB B-ADJP +strong JJ I-ADJP +. . O + +USAir NNP B-NP +'s POS B-NP +deal NN I-NP +with IN B-PP +Mr. NNP B-NP +Buffett NNP I-NP +`` `` O +was VBD B-VP +n't RB O +exactly RB B-ADVP +a DT B-NP +shining VBG I-NP +example NN I-NP +of IN B-PP +shareholder NN B-NP +democracy NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Steinhardt NNP I-NP +says VBZ B-VP +. . O + +Since IN B-PP +last JJ B-NP +April NNP I-NP +, , O +the DT B-NP +investor NN I-NP +has VBZ B-VP +made VBN I-VP +seven CD B-NP +so-called JJ I-NP +13D CD I-NP +filings NNS I-NP +in IN B-PP +USAir NNP B-NP +, , O +as IN B-SBAR +he PRP B-NP +bought VBD B-VP +and CC I-VP +sold VBD I-VP +the DT B-NP +company NN I-NP +'s POS B-NP +stock NN I-NP +. . O + +Such JJ B-NP +disclosures NNS I-NP +of IN B-PP +big JJ B-NP +holdings NNS I-NP +often RB B-ADVP +are VBP B-VP +used VBN I-VP +by IN B-PP +raiders NNS B-NP +to TO B-VP +try VB I-VP +to TO I-VP +scare VB I-VP +a DT B-NP +company NN I-NP +'s POS B-NP +managers NNS I-NP +, , O +and CC O +to TO B-VP +stir VB I-VP +interest NN B-NP +in IN B-PP +the DT B-NP +stock NN I-NP +. . O + +But CC O +of IN B-PP +course NN B-NP +it PRP B-NP +would MD B-VP +be VB I-VP +highly RB B-ADJP +unusual JJ I-ADJP +for IN B-SBAR +an DT B-NP +investment NN I-NP +fund NN I-NP +such JJ B-PP +as IN I-PP +Steinhardt NNP B-NP +Partners NNPS I-NP +to TO B-VP +take VB I-VP +over IN B-PRT +a DT B-NP +company NN I-NP +. . O + +USAir NNP B-NP +and CC O +Mr. NNP B-NP +Buffett NNP I-NP +wo MD B-VP +n't RB I-VP +talk VB I-VP +about IN B-PP +Mr. NNP B-NP +Steinhardt NNP I-NP +at IN B-ADVP +all DT I-ADVP +. . O + +Analysts NNS B-NP +say VBP B-VP +USAir NNP B-NP +has VBZ B-VP +great JJ B-NP +promise NN I-NP +. . O + +By IN B-PP +the DT B-NP +second JJ I-NP +half NN I-NP +of IN B-PP +1990 CD B-NP +, , O +USAir NNP B-NP +stock NN I-NP +could MD B-VP +hit VB I-VP +60 CD B-NP +, , O +says VBZ B-VP +Helane NNP B-NP +Becker NNP I-NP +of IN B-PP +Shearson NNP B-NP +Lehman NNP I-NP +Hutton NNP I-NP +. . O + +She PRP B-NP +thinks VBZ B-VP +traders NNS B-NP +should MD B-VP +buy VB I-VP +the DT B-NP +stock NN I-NP +if IN B-SBAR +it PRP B-NP +tumbles VBZ B-VP +to TO B-PP +35 CD B-NP +. . O + +But CC O +meanwhile RB B-ADVP +, , O +USAir NNP B-NP +is VBZ B-VP +expected VBN I-VP +to TO I-VP +show VB I-VP +losses NNS B-NP +or CC O +lackluster JJ B-NP +profit NN I-NP +for IN B-PP +several JJ B-NP +quarters NNS I-NP +as IN B-SBAR +it PRP B-NP +tries VBZ B-VP +to TO I-VP +digest VB I-VP +Piedmont NNP B-NP +Airlines NNPS I-NP +, , O +which WDT B-NP +it PRP B-NP +acquired VBD B-VP +. . O + +Moreover RB B-ADVP +, , O +some DT B-NP +investors NNS I-NP +think VBP B-VP +a DT B-NP +recession NN I-NP +or CC O +renewed VBN B-NP +airfare NN I-NP +wars NNS I-NP +will MD B-VP +pummel VB I-VP +airline NN B-NP +stocks NNS I-NP +in IN B-PP +coming VBG B-NP +months NNS I-NP +. . O + +However RB B-ADVP +, , O +Mr. NNP B-NP +Steinhardt NNP I-NP +says VBZ B-VP +he PRP B-NP +'s VBZ B-VP +`` `` O +comfortable JJ B-ADJP +holding NN B-VP +USAir NNP B-NP +as IN B-PP +an DT B-NP +investment NN I-NP +. . O +'' '' O + +While IN B-SBAR +he PRP B-NP +has VBZ B-VP +bought VBN I-VP +and CC I-VP +sold VBD I-VP +some DT B-NP +USAir NNP I-NP +shares NNS I-NP +in IN B-PP +recent JJ B-NP +days NNS I-NP +, , O +he PRP B-NP +says VBZ B-VP +that IN B-SBAR +contrary JJ B-ADVP +to TO B-PP +rumors NNS B-NP +, , O +he PRP B-NP +has VBZ B-VP +n't RB I-VP +tried VBN I-VP +to TO I-VP +unload VB I-VP +his PRP$ B-NP +holding NN I-NP +. . O + +Mr. NNP B-NP +Steinhardt NNP I-NP +adds VBZ B-VP +that IN B-SBAR +he PRP B-NP +bought VBD B-VP +USAir NNP B-NP +stock NN I-NP +earlier RBR B-NP +this DT I-NP +year NN I-NP +as IN B-PP +`` `` O +part NN B-NP +of IN B-PP +a DT B-NP +fundamental JJ I-NP +investment NN I-NP +in IN B-PP +the DT B-NP +airline NN I-NP +group NN I-NP +. . O +'' '' O + +In IN B-PP +1989 CD B-NP +, , O +Mr. NNP B-NP +Steinhardt NNP I-NP +says VBZ B-VP +he PRP B-NP +made VBD B-VP +money NN B-NP +trading NN B-VP +in IN B-PP +Texas NNP B-NP +Air NNP I-NP +, , O +AMR NNP B-NP +and CC O +UAL NNP B-NP +. . O + +Overall RB B-ADVP +, , O +his PRP$ B-NP +investments NNS I-NP +so RB B-ADVP +far RB I-ADVP +this DT B-NP +year NN I-NP +are VBP B-VP +showing VBG I-VP +gains NNS B-NP +of IN B-PP +about IN B-NP +20 CD I-NP +% NN I-NP +, , O +he PRP B-NP +adds VBZ B-VP +. . O + +Does VBZ O +Mr. NNP B-NP +Steinhardt NNP I-NP +regret VBP B-VP +his PRP$ B-NP +incursion NN I-NP +into IN B-PP +the DT B-NP +takeover-threat NN I-NP +game NN I-NP +? . O + +People NNS B-NP +close VBP B-ADJP +to TO B-PP +the DT B-NP +investor NN I-NP +say VBP B-VP +that WDT B-NP +was VBD B-VP +an DT B-NP +experiment NN I-NP +he PRP B-NP +is VBZ B-VP +unlikely JJ B-ADJP +to TO B-VP +repeat VB I-VP +. . O + +`` `` O +I PRP B-NP +do VBP B-VP +n't RB I-VP +think VB I-VP +you PRP B-NP +'ll MD B-VP +find VB I-VP +I PRP B-NP +'m VBP B-VP +making VBG I-VP +a DT B-NP +radical JJ I-NP +change NN I-NP +in IN B-PP +my PRP$ B-NP +traditional JJ I-NP +investment NN I-NP +style NN I-NP +, , O +'' '' O +Mr. NNP B-NP +Steinhardt NNP I-NP +says VBZ B-VP +. . O + +Addington NNP B-NP +Resources NNP I-NP +Inc. NNP I-NP +said VBD B-VP +it PRP B-NP +called VBD B-VP +for IN B-PP +redemption NN B-NP +on IN B-PP +Nov. NNP B-NP +21 CD I-NP +its PRP$ B-NP +$ $ I-NP +25.8 CD I-NP +million CD I-NP +outstanding JJ B-ADJP +of IN B-PP +8 CD B-NP +% NN I-NP +convertible JJ I-NP +subordinated VBN I-NP +debentures NNS I-NP +due JJ B-ADJP +2013 CD B-NP +. . O + +The DT B-NP +debentures NNS I-NP +were VBD B-VP +issued VBN I-VP +in IN B-PP +the DT B-NP +face NN I-NP +amount NN I-NP +of IN B-PP +$ $ B-NP +46 CD I-NP +million CD I-NP +on IN B-PP +July NNP B-NP +11 CD I-NP +, , I-NP +1988 CD I-NP +, , O +the DT B-NP +Ashland NNP I-NP +, , I-NP +Ky. NNP I-NP +, , I-NP +coal NN I-NP +mining NN I-NP +, , I-NP +water NN I-NP +transportation NN I-NP +and CC I-NP +construction NN I-NP +company NN I-NP +said VBD B-VP +. . O + +The DT B-NP +company NN I-NP +said VBD B-VP +the DT B-NP +redemption NN I-NP +is VBZ B-VP +permitted VBN I-VP +because IN B-SBAR +the DT B-NP +price NN I-NP +of IN B-PP +Addington NNP B-NP +'s POS B-NP +stock NN I-NP +has VBZ B-VP +equaled VBN I-VP +or CC I-VP +exceeded VBN I-VP +$ $ B-NP +19.60 CD I-NP +for IN B-PP +20 CD B-NP +consecutive JJ I-NP +trading NN I-NP +days NNS I-NP +, , O +a DT B-NP +condition NN I-NP +set VBN B-VP +in IN B-PP +the DT B-NP +terms NNS I-NP +of IN B-PP +the DT B-NP +debentures NNS I-NP +. . O + +Debenture NN B-NP +holders NNS I-NP +are VBP B-VP +expected VBN I-VP +to TO I-VP +convert VB I-VP +most RBS B-NP +of IN B-PP +the DT B-NP +debentures NNS I-NP +into IN B-PP +common JJ B-NP +because IN B-SBAR +the DT B-NP +value NN I-NP +of IN B-PP +the DT B-NP +stock NN I-NP +received VBD B-VP +in IN B-PP +a DT B-NP +conversion NN I-NP +would MD B-VP +exceed VB I-VP +the DT B-NP +$ $ I-NP +1,103.11 CD I-NP +redemption NN I-NP +price NN I-NP +. . O + +Commodore NNP B-NP +International NNP I-NP +Ltd. NNP I-NP +said VBD B-VP +it PRP B-NP +will MD B-VP +report VB I-VP +a DT B-NP +loss NN I-NP +for IN B-PP +the DT B-NP +first JJ I-NP +quarter NN I-NP +ended VBN B-VP +Sept. NNP B-NP +30 CD I-NP +because IN B-SBAR +sales NNS B-NP +of IN B-PP +personal JJ B-NP +computers NNS I-NP +for IN B-PP +the DT B-NP +home NN I-NP +market NN I-NP +remained VBD B-VP +weak JJ B-ADJP +in IN B-PP +some DT B-NP +major JJ I-NP +countries NNS I-NP +. . O + +That DT B-NP +will MD B-VP +mark VB I-VP +the DT B-NP +second JJ I-NP +consecutive JJ I-NP +quarterly JJ I-NP +loss NN I-NP +for IN B-PP +Commodore NNP B-NP +and CC O +will MD B-VP +raise VB I-VP +additional JJ B-NP +questions NNS I-NP +about IN B-PP +whether IN B-SBAR +it PRP B-NP +can MD B-VP +sustain VB I-VP +the DT B-NP +turnaround NN I-NP +it PRP B-NP +had VBD B-VP +seemed VBN I-VP +to TO I-VP +be VB I-VP +engineering NN I-VP +. . O + +Commodore NNP B-NP +, , O +West NNP B-NP +Chester NNP I-NP +, , O +Pa. NNP B-NP +, , O +had VBD B-VP +said VBD I-VP +in IN B-PP +August NNP B-NP +that IN B-SBAR +it PRP B-NP +was VBD B-VP +consolidating VBG I-VP +manufacturing NN B-NP +to TO B-VP +cut VB I-VP +costs NNS B-NP +and CC O +expected VBN B-VP +to TO I-VP +be VB I-VP +profitable JJ B-ADJP +in IN B-PP +the DT B-NP +fiscal JJ I-NP +first JJ I-NP +quarter NN I-NP +. . O + +Commodore NNP B-NP +said VBD B-VP +that IN O +its PRP$ B-NP +announcement NN I-NP +is VBZ B-VP +based VBN I-VP +on IN B-PP +preliminary JJ B-NP +information NN I-NP +and CC O +that IN B-SBAR +the DT B-NP +situation NN I-NP +could MD B-VP +look VB I-VP +different JJ B-ADJP +by IN B-PP +the DT B-NP +time NN I-NP +final JJ B-NP +results NNS I-NP +are VBP B-VP +announced VBN I-VP +early JJ B-NP +next JJ I-NP +month NN I-NP +. . O + +In IN B-PP +fact NN B-NP +, , O +Commodore NNP B-NP +'s POS B-NP +fiscal JJ I-NP +fourth-quarter JJ I-NP +loss NN I-NP +was VBD B-VP +$ $ B-NP +2 CD I-NP +million CD I-NP +narrower JJR B-ADJP +than IN B-SBAR +Commodore NNP B-NP +had VBD B-VP +expected VBN I-VP +a DT B-NP +few JJ I-NP +weeks NNS I-NP +after IN B-SBAR +the DT B-NP +quarter NN I-NP +closed VBD B-VP +. . O + +Still RB B-ADVP +, , O +even RB B-NP +results VBZ I-NP +approaching VBG B-VP +break-even NN B-NP +would MD B-VP +mark VB I-VP +a DT B-NP +sharp JJ I-NP +weakening NN I-NP +compared VBN B-PP +with IN B-PP +fiscal JJ B-NP +1989 CD I-NP +first-quarter JJ I-NP +earnings NNS I-NP +of IN B-PP +$ $ B-NP +9.6 CD I-NP +million CD I-NP +, , O +or CC O +30 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +on IN B-PP +sales NNS B-NP +of IN B-PP +$ $ B-NP +200.2 CD I-NP +million CD I-NP +. . O + +Reflecting VBG B-VP +concerns NNS B-NP +about IN B-PP +Commodore NNP B-NP +'s POS B-NP +outlook NN I-NP +, , O +its PRP$ B-NP +stock NN I-NP +has VBZ B-VP +plunged VBN I-VP +more JJR B-NP +than IN I-NP +50 CD I-NP +% NN I-NP +since IN B-PP +May NNP B-NP +, , O +closing VBG B-VP +yesterday NN B-NP +unchanged JJ B-ADJP +at IN B-PP +$ $ B-NP +8.875 CD I-NP +a DT B-NP +share NN I-NP +in IN B-PP +composite JJ B-NP +trading NN I-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +. . O + +The DT B-NP +price NN I-NP +can MD B-VP +be VB I-VP +expected VBN I-VP +to TO I-VP +erode VB I-VP +further RBR B-ADVP +, , O +because IN B-SBAR +the DT B-NP +loss NN I-NP +estimate NN I-NP +came VBD B-VP +after IN B-SBAR +the DT B-NP +market NN I-NP +closed VBD B-VP +. . O + +Commodore NNP B-NP +has VBZ B-VP +seemed VBN I-VP +to TO I-VP +be VB I-VP +setting VBG I-VP +the DT B-NP +stage NN I-NP +recently RB B-ADVP +for IN B-PP +progress NN B-NP +in IN B-PP +the DT B-NP +U.S. NNP I-NP +, , O +where WRB B-ADVP +its PRP$ B-NP +personal-computer NN I-NP +sales NNS I-NP +have NN B-VP +been VBN I-VP +so RB B-ADJP +dismal JJ I-ADJP +for IN B-PP +years NNS B-NP +that IN B-SBAR +Commodore NNP B-NP +is VBZ B-VP +close RB B-ADJP +to TO B-PP +dropping VBG B-VP +off IN B-PRT +research NN B-NP +firms NNS I-NP +' POS B-NP +market-share JJ I-NP +charts NNS I-NP +. . O + +Commodore NNP B-NP +has VBZ B-VP +assembled VBN I-VP +an DT B-NP +experienced VBN I-NP +management NN I-NP +team NN I-NP +, , O +it PRP B-NP +has VBZ B-VP +persuaded VBN I-VP +many RB B-NP +more JJR I-NP +dealers NNS I-NP +to TO B-VP +carry VB I-VP +its PRP$ B-NP +products NNS I-NP +and CC O +it PRP B-NP +has VBZ B-VP +unleashed VBN I-VP +a DT B-NP +slick JJ I-NP +advertising NN I-NP +campaign NN I-NP +. . O + +But CC O +those DT B-NP +represent VB B-VP +long-term JJ B-NP +strategies NNS I-NP +that IN B-NP +probably RB B-ADVP +wo MD B-VP +n't RB I-VP +succeed VB I-VP +quickly RB B-ADVP +, , O +even RB B-SBAR +if IN I-SBAR +they PRP B-NP +turn VBP B-VP +out IN I-VP +to TO I-VP +be VB I-VP +the DT B-NP +right NN I-NP +ones NNS I-NP +. . O + +In IN B-PP +the DT B-NP +meantime NN I-NP +, , O +the DT B-NP +strategies NNS I-NP +will MD B-VP +increase VB I-VP +expenses NNS B-NP +. . O + +Commodore NNP B-NP +had VBD B-VP +been VBN I-VP +counting VBG I-VP +on IN B-PP +its PRP$ B-NP +consumer NN I-NP +business NN I-NP +to TO B-VP +stay VB I-VP +sufficiently RB B-ADJP +healthy JJ I-ADJP +to TO B-VP +support VB I-VP +its PRP$ B-NP +efforts NNS I-NP +in IN B-PP +other JJ B-NP +areas NNS I-NP +-- : O +mainly RB B-ADVP +in IN B-PP +getting VBG B-VP +schools NNS B-NP +and CC I-NP +businesses NNS I-NP +to TO B-VP +use VB I-VP +its PRP$ B-NP +Amiga NNP I-NP +, , O +which WDT B-NP +has VBZ B-VP +slick JJ B-NP +graphics NNS I-NP +yet RB O +has VBZ B-VP +been VBN I-VP +slow JJ B-ADJP +to TO B-VP +catch VB I-VP +on IN B-PRT +because IN B-SBAR +it PRP B-NP +is VBZ B-VP +n't RB O +compatible JJ B-ADJP +with IN B-PP +Apple NNP B-NP +Computer NNP I-NP +Inc. NNP I-NP +or CC I-NP +International NNP I-NP +Business NNP I-NP +Machines NNP I-NP +Corp. NNP I-NP +hardware NN I-NP +. . O + +But CC O +sales NNS B-NP +to TO B-PP +consumers NNS B-NP +have VBP B-VP +become VBN I-VP +difficult JJ B-ADJP +during IN B-PP +the DT B-NP +past JJ I-NP +several JJ I-NP +months NNS I-NP +, , O +even RB B-ADVP +in IN B-PP +West NNP B-NP +Germany NNP I-NP +, , O +which WDT B-NP +has VBZ B-VP +been VBN I-VP +by IN B-PP +far RB B-ADVP +Commodore NNP B-NP +'s POS B-NP +strongest JJS I-NP +market NN I-NP +. . O + +The DT B-NP +Commodore NNP I-NP +64 CD I-NP +and CC I-NP +128 CD I-NP +, , O +mainly RB B-VP +used VBN I-VP +for IN B-PP +children NNS B-NP +'s POS B-NP +educational JJ I-NP +software NN I-NP +and CC I-NP +games NNS I-NP +, , O +had VBD B-VP +surprised VBN I-VP +market NN B-NP +researchers NNS I-NP +by IN B-PP +continuing VBG B-VP +to TO I-VP +produce VB I-VP +strong JJ B-NP +sales NNS I-NP +even RB B-SBAR +though IN I-SBAR +other JJ B-NP +low-profit JJ I-NP +personal JJ I-NP +computers NNS I-NP +now RB B-ADVP +operate VBP B-VP +several JJ B-NP +times NNS I-NP +as IN B-ADVP +fast RB I-ADVP +and CC O +have VBP B-VP +much RB B-NP +more JJR I-NP +memory NN I-NP +. . O + +Commodore NNP B-NP +has VBZ B-VP +said VBD I-VP +it PRP B-NP +expects VBZ B-VP +sales NNS B-NP +to TO B-VP +rebound VB I-VP +, , O +but CC O +market NN B-NP +researchers NNS I-NP +have VBP B-VP +said VBD I-VP +that IN B-SBAR +sales NNS B-NP +of IN B-PP +the DT B-NP +low-end JJ I-NP +products NNS I-NP +may MD B-VP +finally RB I-VP +be VB I-VP +trailing VBG I-VP +off RB B-ADVP +. . O + +Stock NN B-NP +prices NNS I-NP +closed VBD B-VP +slightly RB B-ADJP +higher JJR I-ADJP +in IN B-PP +the DT B-NP +first JJ I-NP +routine JJ I-NP +trading NN I-NP +day NN I-NP +since IN B-PP +Friday NNP B-NP +'s POS B-NP +big JJ I-NP +plunge NN I-NP +. . O + +Some DT B-NP +issues NNS I-NP +were VBD B-VP +affected VBN I-VP +by IN B-PP +Tuesday NNP B-NP +'s POS B-NP +devastating JJ I-NP +earthquake NN I-NP +in IN B-PP +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +area NN I-NP +. . O + +Activity NN B-NP +continued VBD B-VP +to TO I-VP +slow VB I-VP +from IN B-PP +the DT B-NP +hectic JJ I-NP +pace NN I-NP +set VBN B-VP +during IN B-PP +the DT B-NP +market NN I-NP +'s POS B-NP +plunge NN I-NP +late JJ B-NP +Friday NNP I-NP +and CC O +its PRP$ B-NP +rebound NN I-NP +Monday NNP B-NP +, , O +as IN B-SBAR +players NNS B-NP +began VBD B-VP +to TO I-VP +set VB I-VP +their PRP$ B-NP +sights NNS I-NP +on IN B-PP +events NNS B-NP +coming VBG B-VP +later RB B-NP +this DT I-NP +week NN I-NP +. . O + +The DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Industrial NNP I-NP +Average NNP I-NP +drifted VBD B-VP +through IN B-PP +the DT B-NP +session NN I-NP +within IN B-PP +a DT B-NP +trading NN I-NP +range NN I-NP +of IN B-PP +about IN B-NP +30 CD I-NP +points NNS I-NP +before IN B-PP +closing VBG B-VP +with IN B-PP +a DT B-NP +gain NN I-NP +of IN B-PP +4.92 CD B-NP +at IN B-PP +2643.65 CD B-NP +. . O + +Broader JJR B-NP +averages NNS I-NP +also RB B-ADVP +posted VBD B-VP +modest JJ B-NP +gains NNS I-NP +. . O + +Standard NNP B-NP +& CC I-NP +Poor NNP I-NP +'s POS B-NP +500-Stock NNP I-NP +Index NNP I-NP +rose VBD B-VP +0.60 CD B-NP +to TO B-PP +341.76 CD B-NP +, , O +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Equity NNP I-NP +Market NNP I-NP +Index NNP I-NP +rose VBD B-VP +0.71 CD B-NP +to TO B-PP +320.54 CD B-NP +and CC O +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +Composite NNP I-NP +Index NNP I-NP +gained VBD B-VP +0.43 CD B-NP +to TO B-PP +189.32 CD B-NP +. . O + +Some DT B-NP +822 CD I-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +issues NNS I-NP +advanced VBD B-VP +in IN B-PP +price NN B-NP +, , O +while IN B-SBAR +668 CD B-NP +declined VBD B-VP +. . O + +But CC O +the DT B-NP +Dow NNP I-NP +Jones NNP I-NP +Transportation NNP I-NP +Average NNP I-NP +went VBD B-VP +down RB B-ADVP +for IN B-PP +the DT B-NP +seventh JJ I-NP +consecutive JJ I-NP +session NN I-NP +, , O +due JJ B-PP +largely RB B-ADVP +to TO B-PP +further VB B-NP +selling NN I-NP +in IN B-PP +UAL NNP B-NP +. . O + +The DT B-NP +average NN I-NP +dropped VBD B-VP +6.40 CD B-NP +to TO B-PP +1247.87 CD B-NP +and CC O +has VBZ B-VP +now RB I-VP +lost VBN I-VP +21.7 CD B-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +value NN I-NP +since IN B-SBAR +the DT B-NP +losing VBG I-NP +streak NN I-NP +began VBD B-VP +Oct. NNP B-NP +10 CD I-NP +. . O + +Big NNP B-NP +Board NNP I-NP +volume NN I-NP +dropped VBD B-VP +to TO B-PP +166,900,000 CD B-NP +shares NNS I-NP +, , O +in IN B-PP +line NN B-NP +with IN B-PP +the DT B-NP +level NN I-NP +of IN B-PP +trading NN B-NP +over IN B-PP +the DT B-NP +past JJ I-NP +few JJ I-NP +weeks NNS I-NP +, , O +from IN B-PP +224.1 CD B-NP +million CD I-NP +Tuesday NNP B-NP +. . O + +Traders NNS B-NP +cited VBD B-VP +anticipation NN B-NP +of IN B-PP +the DT B-NP +consumer NN I-NP +price NN I-NP +report NN I-NP +for IN B-PP +September NNP B-NP +, , O +due JJ B-ADJP +today NN B-NP +, , O +and CC O +tomorrow NN B-NP +'s POS B-NP +expiration NN I-NP +of IN B-PP +October NNP B-NP +stock-index NN I-NP +futures NNS I-NP +and CC I-NP +options NNS I-NP +as IN B-PP +major JJ B-NP +factors NNS I-NP +in IN B-PP +the DT B-NP +slowdown NN I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +activity NN B-NP +at IN B-PP +a DT B-NP +number NN I-NP +of IN B-PP +San NNP B-NP +Francisco-based JJ I-NP +brokerage NN I-NP +houses NNS I-NP +was VBD B-VP +curtailed VBN I-VP +as IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +the DT B-NP +earthquake NN I-NP +, , O +which WDT B-NP +knocked VBD B-VP +out RP B-PRT +power NN B-NP +lines NNS I-NP +and CC O +telephone NN B-NP +service NN I-NP +throughout IN B-PP +the DT B-NP +Bay NNP I-NP +area NN I-NP +. . O + +Stocks NNS B-NP +retreated VBD B-VP +to TO B-PP +session NN B-NP +lows NNS I-NP +just RB B-ADVP +after IN B-PP +the DT B-NP +opening NN I-NP +amid IN B-PP +worries NNS B-NP +about IN B-PP +the DT B-NP +market NN I-NP +impact NN I-NP +of IN B-PP +the DT B-NP +quake NN I-NP +, , O +but CC O +quickly RB B-VP +snapped VBD I-VP +back RB B-ADVP +to TO B-PP +higher JJR B-NP +levels NNS I-NP +with IN B-PP +the DT B-NP +help NN I-NP +of IN B-PP +futures-related JJ B-NP +program NN I-NP +buying VBG I-NP +. . O + +The DT B-NP +early JJ I-NP +move NN I-NP +essentially RB B-ADVP +established VBD B-VP +the DT B-NP +day NN I-NP +'s POS B-NP +trading NN I-NP +range NN I-NP +, , O +and CC O +traders NNS B-NP +said VBD B-VP +they PRP B-NP +saw VBD B-VP +little JJ B-NP +of IN B-PP +the DT B-NP +program NN I-NP +activity NN I-NP +that WDT B-NP +has VBZ B-VP +battered VBN I-VP +the DT B-NP +market NN I-NP +recently RB B-ADVP +. . O + +`` `` O +I PRP B-NP +did VBD B-VP +n't RB I-VP +expect VB I-VP +it PRP B-NP +to TO B-VP +be VB I-VP +this DT B-NP +quiet NN I-NP +. . O + +I PRP B-NP +expected VBD B-VP +to TO I-VP +see VB I-VP +more JJR B-NP +volatility NN I-NP +as IN B-SBAR +some DT B-NP +of IN B-PP +the DT B-NP +institutions NNS I-NP +who WP B-NP +were VBD B-VP +spooked VBN I-VP +last JJ B-NP +Friday NNP I-NP +did VBD B-VP +some DT B-NP +selling NN I-NP +, , O +'' '' O +said VBD B-VP +Raymond NNP B-NP +F. NNP I-NP +DeVoe NNP I-NP +, , O +a DT B-NP +market NN I-NP +strategist NN I-NP +at IN B-PP +Legg NNP B-NP +Mason NNP I-NP +Wood NNP I-NP +Walker NNP I-NP +, , O +Baltimore NNP B-NP +. . O + +Mr. NNP B-NP +DeVoe NNP I-NP +said VBD B-VP +he PRP B-NP +expects VBZ B-VP +prices NNS B-NP +to TO B-VP +show VB I-VP +some DT B-NP +renewed VBN I-NP +instability NN I-NP +over IN B-PP +the DT B-NP +next JJ I-NP +few JJ I-NP +sessions NNS I-NP +as IN B-SBAR +institutions NNS B-NP +re-evaluate VBP B-VP +their PRP$ B-NP +stance NN I-NP +toward IN B-PP +the DT B-NP +market NN I-NP +in IN B-PP +light NN B-NP +of IN B-PP +its PRP$ B-NP +decline NN I-NP +. . O + +`` `` O +I PRP B-NP +would MD B-VP +suspect VB I-VP +that IN B-SBAR +a DT B-NP +lot NN I-NP +of IN B-PP +investment NN B-NP +committees NNS I-NP +are VBP B-VP +looking VBG I-VP +into IN B-PP +whether IN B-SBAR +-LRB- ( O +they PRP B-NP +-RRB- ) O +want VBP B-VP +to TO I-VP +be VB I-VP +in IN B-PP +stocks NNS B-NP +at IN B-ADVP +all DT I-ADVP +, , O +'' '' O +he PRP B-NP +said VBD B-VP +. . O + +Insurance NN B-NP +stocks NNS I-NP +were VBD B-VP +sold VBN I-VP +at IN B-PP +the DT B-NP +opening NN I-NP +amid IN B-PP +concerns NNS B-NP +about IN B-PP +the DT B-NP +level NN I-NP +of IN B-PP +damage NN B-NP +claims VBZ I-NP +the DT B-NP +companies NNS I-NP +would MD B-VP +receive VB I-VP +as IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +the DT B-NP +earthquake NN I-NP +. . O + +But CC O +those DT B-NP +issues NNS I-NP +recovered VBD B-VP +quickly RB B-ADVP +and CC O +turned VBD B-VP +higher JJR B-ADJP +because IN B-PP +of IN I-PP +expectations NNS B-NP +that IN B-SBAR +the DT B-NP +quake NN I-NP +and CC O +the DT B-NP +recent JJ I-NP +Hurricane NNP I-NP +Hugo NNP I-NP +would MD B-VP +set VB I-VP +the DT B-NP +stage NN I-NP +for IN B-PP +an DT B-NP +increase NN I-NP +in IN B-PP +premium NN B-NP +rates NNS I-NP +. . O + +Issues NNS B-NP +of IN B-PP +insurance NN B-NP +brokers NNS I-NP +were VBD B-VP +especially RB B-ADJP +strong JJ I-ADJP +. . O + +Marsh NNP B-NP +& CC I-NP +McLennan NNP I-NP +advanced VBD B-VP +3 CD B-NP +1\/8 CD I-NP +to TO B-PP +75 CD B-NP +7\/8 CD I-NP +, , O +Alexander NNP B-NP +& CC I-NP +Alexander NNP I-NP +Services NNP I-NP +climbed VBD B-VP +2 CD B-NP +to TO B-PP +32 CD B-NP +and CC O +Corroon NNP B-NP +& CC I-NP +Black NNP I-NP +firmed VBD B-VP +1 CD B-NP +7\/8 CD I-NP +to TO B-PP +37 CD B-NP +1\/2 CD I-NP +. . O + +Elsewhere RB B-ADVP +in IN B-PP +the DT B-NP +group NN I-NP +, , O +General NNP B-NP +Re NNP I-NP +rose VBD B-VP +2 CD B-NP +3\/4 CD I-NP +to TO B-PP +86 CD B-NP +1\/2 CD I-NP +, , O +American NNP B-NP +International NNP I-NP +Group NNP I-NP +gained VBD B-VP +3 CD B-NP +1\/4 CD I-NP +to TO B-PP +102 CD B-NP +5\/8 CD I-NP +, , O +Aetna NNP B-NP +Life NNP I-NP +& CC I-NP +Casualty NNP I-NP +added VBD B-VP +2 CD B-NP +3\/8 CD I-NP +to TO B-PP +59 CD B-NP +1\/2 CD I-NP +and CC O +Cigna NNP B-NP +advanced VBD B-VP +7\/8 CD B-NP +to TO B-PP +62 CD B-NP +1\/2 CD I-NP +. . O + +Loews NNP B-NP +, , O +the DT B-NP +parent NN I-NP +of IN B-PP +CNA NNP B-NP +Financial NNP I-NP +, , O +rose VBD B-VP +1 CD B-NP +3\/8 CD I-NP +to TO B-PP +123 CD B-NP +1\/8 CD I-NP +. . O + +Companies NNS B-NP +in IN B-PP +the DT B-NP +construction NN I-NP +, , I-NP +engineering NN I-NP +and CC I-NP +building-products NNS I-NP +sectors NNS I-NP +were VBD B-VP +among IN B-PP +other JJ B-NP +beneficiaries NNS I-NP +of IN B-PP +earthquake-related JJ B-NP +buying NN I-NP +. . O + +The DT B-NP +heavy-construction NN I-NP +sector NN I-NP +was VBD B-VP +the DT B-NP +session NN I-NP +'s POS B-NP +best JJS I-NP +performer NN I-NP +among IN B-PP +Dow NNP B-NP +Jones NNP I-NP +industry NN I-NP +groups NNS I-NP +; : O +Fluor NNP B-NP +rose VBD B-VP +3\/4 CD B-NP +to TO B-PP +33 CD B-NP +3\/8 CD I-NP +, , O +Morrison NNP B-NP +Knudsen NNP I-NP +gained VBD B-VP +2 CD B-NP +1\/4 CD I-NP +to TO B-PP +44 CD B-NP +1\/8 CD I-NP +, , O +Foster NNP B-NP +Wheeler NNP I-NP +added VBD B-VP +3\/8 CD B-NP +to TO B-PP +18 CD B-NP +1\/4 CD I-NP +and CC O +Ameron NNP B-NP +climbed VBD B-VP +2 CD B-NP +3\/8 CD I-NP +to TO B-PP +39 CD B-NP +3\/4 CD I-NP +. . O + +Among IN B-PP +engineering NN B-NP +firms NNS I-NP +, , O +CRS NNP B-NP +Sirrine NNP I-NP +rose VBD B-VP +5\/8 CD B-NP +to TO B-PP +34 CD B-NP +1\/4 CD I-NP +on IN B-PP +the DT B-NP +Big NNP I-NP +Board NNP I-NP +and CC O +four CD B-NP +others NNS I-NP +rallied VBD B-VP +on IN B-PP +the DT B-NP +American NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +: : O +Jacobs NNP B-NP +Engineering NNP I-NP +Group NNP I-NP +, , O +which WDT B-NP +gained VBD B-VP +1 CD B-NP +1\/8 CD I-NP +to TO B-PP +25 CD B-NP +3\/8 CD I-NP +, , O +Greiner NNP B-NP +Engineering NNP I-NP +, , O +which WDT B-NP +rose VBD B-VP +3 CD B-NP +1\/2 CD I-NP +to TO B-PP +22 CD B-NP +1\/2 CD I-NP +; : O +Michael NNP B-NP +Baker NNP I-NP +, , O +which WDT B-NP +added VBD B-VP +1 CD B-NP +1\/4 CD I-NP +to TO B-PP +15 CD B-NP +1\/4 CD I-NP +, , O +and CC O +American NNP B-NP +Science NNP I-NP +& CC I-NP +Engineering NNP I-NP +, , O +up IN B-ADVP +1\/2 CD B-NP +to TO B-PP +8 CD B-NP +1\/2 CD I-NP +. . O + +Within IN B-PP +the DT B-NP +building-materials NNS I-NP +group VBP I-NP +, , O +Georgia-Pacific NNP B-NP +climbed VBD B-VP +1 CD B-NP +1\/4 CD I-NP +to TO B-PP +58 CD B-NP +and CC O +Louisiana-Pacific NNP B-NP +added VBD B-VP +1 CD B-NP +to TO B-PP +40 CD B-NP +3\/4 CD I-NP +after IN B-SBAR +Merrill NNP B-NP +Lynch NNP I-NP +recommended VBD B-VP +the DT B-NP +forest-products NNS I-NP +issues NNS I-NP +. . O + +CalMat NNP B-NP +advanced VBD B-VP +2 CD B-NP +3\/4 CD I-NP +to TO B-PP +28 CD B-NP +3\/4 CD I-NP +, , O +Lone NNP B-NP +Star NNP I-NP +Industries NNPS I-NP +gained VBD B-VP +1 CD B-NP +3\/4 CD I-NP +to TO B-PP +29 CD B-NP +1\/4 CD I-NP +, , O +Lafarge NNP B-NP +rose VBD B-VP +1 CD B-NP +to TO B-PP +19 CD B-NP +1\/2 CD I-NP +, , O +Southdown NNP B-NP +added VBD B-VP +5\/8 CD B-NP +to TO B-PP +24 CD B-NP +5\/8 CD I-NP +and CC O +Eljer NNP B-NP +Industries NNP I-NP +rose VBD B-VP +1 CD B-NP +1\/4 CD I-NP +to TO B-PP +24 CD B-NP +7\/8 CD I-NP +. . O + +Pacific NNP B-NP +Gas NNP I-NP +& CC I-NP +Electric NNP I-NP +fell VBD B-VP +3\/8 CD B-NP +to TO B-PP +19 CD B-NP +5\/8 CD I-NP +in IN B-PP +Big NNP B-NP +Board NNP I-NP +composite JJ I-NP +trading NN I-NP +of IN B-PP +1.7 CD B-NP +million CD I-NP +shares NNS I-NP +and CC O +Pacific NNP B-NP +Telesis NNP I-NP +Group NNP I-NP +slipped VBD B-VP +5\/8 CD B-NP +to TO B-PP +44 CD B-NP +5\/8 CD I-NP +as IN B-SBAR +the DT B-NP +companies NNS I-NP +worked VBD B-VP +to TO I-VP +restore VB I-VP +service NN B-NP +to TO B-PP +areas NNS B-NP +affected VBN B-VP +by IN B-PP +the DT B-NP +quake NN I-NP +. . O + +Chevron NNP B-NP +added VBD B-VP +1 CD B-NP +to TO B-PP +65 CD B-NP +. . O + +The DT B-NP +company NN I-NP +, , O +based VBN B-VP +in IN B-PP +San NNP B-NP +Francisco NNP I-NP +, , O +said VBD B-VP +it PRP B-NP +had VBD B-VP +to TO I-VP +shut VB I-VP +down RP B-PRT +a DT B-NP +crude-oil NN I-NP +pipeline NN I-NP +in IN B-PP +the DT B-NP +Bay NNP I-NP +area NN I-NP +to TO B-VP +check VB I-VP +for IN B-PP +leaks NNS B-NP +but CC O +added VBD B-VP +that IN O +its PRP$ B-NP +refinery NN I-NP +in IN B-PP +nearby JJ B-NP +Richmond NNP I-NP +, , I-NP +Calif. NNP I-NP +, , O +was VBD B-VP +undamaged JJ B-ADJP +. . O + +Other JJ B-NP +companies NNS I-NP +based VBN B-VP +in IN B-PP +the DT B-NP +area NN I-NP +include VBP B-VP +Hewlett-Packard NNP B-NP +, , O +which WDT B-NP +rose VBD B-VP +1\/4 CD B-NP +to TO B-PP +49 CD B-NP +; : O +National NNP B-NP +Semiconductor NNP I-NP +, , O +which WDT B-NP +went VBD B-VP +up IN B-ADVP +1\/4 CD B-NP +to TO B-PP +7 CD B-NP +5\/8 CD I-NP +, , O +and CC O +Genentech NNP B-NP +, , O +which WDT B-NP +eased VBD B-VP +1\/4 CD B-NP +to TO B-PP +19 CD B-NP +5\/8 CD I-NP +. . O + +None NN B-NP +of IN B-PP +the DT B-NP +firms NNS I-NP +reported VBD B-VP +any DT B-NP +major JJ I-NP +damage NN I-NP +to TO B-PP +facilities NNS B-NP +as IN B-PP +a DT B-NP +result NN I-NP +of IN B-PP +the DT B-NP +quake NN I-NP +. . O + +BankAmerica NNP B-NP +eased VBD B-VP +1\/2 CD B-NP +to TO B-PP +31 CD B-NP +7\/8 CD I-NP +and CC O +Wells NNP B-NP +Fargo NNP I-NP +lost VBD B-VP +1\/2 CD B-NP +to TO B-PP +81 CD B-NP +1\/2 CD I-NP +; : O +the DT B-NP +two CD I-NP +bank NN I-NP +holding VBG I-NP +companies NNS I-NP +, , O +based VBN B-VP +in IN B-PP +San NNP B-NP +Francisco NNP I-NP +, , O +were VBD B-VP +forced VBN I-VP +to TO I-VP +curtail VB I-VP +some DT B-NP +operations NNS I-NP +due JJ B-ADVP +to TO B-PP +the DT B-NP +temblor NN I-NP +. . O + +Among IN B-PP +California NNP B-NP +savings-and-loan JJ I-NP +stocks NNS I-NP +, , O +H.F. NNP B-NP +Ahmanson NNP I-NP +eased VBD B-VP +3\/8 CD B-NP +to TO B-PP +22 CD B-NP +1\/4 CD I-NP +, , O +CalFed NNP B-NP +slid VBD B-VP +3\/4 CD B-NP +to TO B-PP +24 CD B-NP +1\/8 CD I-NP +, , O +Great NNP B-NP +Western NNP I-NP +Financial NNP I-NP +dropped VBD B-VP +1\/2 CD B-NP +to TO B-PP +21 CD B-NP +1\/4 CD I-NP +and CC O +Golden NNP B-NP +West NNP I-NP +Financial NNP I-NP +fell VBD B-VP +5\/8 CD B-NP +to TO B-PP +29 CD B-NP +1\/4 CD I-NP +. . O + +UAL NNP B-NP +, , O +the DT B-NP +parent NN I-NP +company NN I-NP +of IN B-PP +United NNP B-NP +Airlines NNPS I-NP +, , O +swung VBD B-VP +within IN B-PP +a DT B-NP +14-point JJ I-NP +range NN I-NP +during IN B-PP +the DT B-NP +course NN I-NP +of IN B-PP +the DT B-NP +session NN I-NP +before IN B-PP +closing VBG B-VP +at IN B-PP +191 CD B-NP +3\/4 CD I-NP +, , O +down RB B-ADVP +6 CD B-NP +1\/4 CD I-NP +, , O +on IN B-PP +2.3 CD B-NP +million CD I-NP +shares NNS I-NP +. . O + +British JJ B-NP +Airways NNPS I-NP +, , O +a DT B-NP +member NN I-NP +of IN B-PP +the DT B-NP +group NN I-NP +that WDT B-NP +had VBD B-VP +offered VBN I-VP +$ $ B-NP +300 CD I-NP +a DT B-NP +share NN I-NP +for IN B-PP +UAL NNP B-NP +in IN B-PP +a DT B-NP +leveraged JJ I-NP +buy-out NN I-NP +, , O +said VBD B-VP +it PRP B-NP +had VBD B-VP +yet RB I-VP +to TO I-VP +receive VB I-VP +a DT B-NP +revised VBN I-NP +proposal NN I-NP +and CC O +it PRP B-NP +was VBD B-VP +`` `` O +in IN B-PP +no DT B-NP +way NN I-NP +committed VBN B-VP +'' '' O +to TO B-PP +the DT B-NP +completion NN I-NP +of IN B-PP +a DT B-NP +bid NN I-NP +. . O + +Separately RB B-ADVP +, , O +investor NN B-NP +Marvin NNP I-NP +Davis NNP I-NP +withdrew VBD B-VP +his PRP$ B-NP +backup NN I-NP +$ $ I-NP +300-a-share JJ I-NP +takeover NN I-NP +offer NN I-NP +. . O + +While IN B-SBAR +UAL NNP B-NP +faltered VBD B-VP +, , O +AMR NNP B-NP +, , O +the DT B-NP +parent NN I-NP +of IN B-PP +American NNP B-NP +Airlines NNPS I-NP +, , O +pulled VBD B-VP +out IN B-PP +of IN B-PP +its PRP$ B-NP +recent JJ I-NP +nosedive NN I-NP +by IN B-PP +rising VBG B-VP +3\/4 CD B-NP +to TO B-PP +74 CD B-NP +. . O + +The DT B-NP +stock NN I-NP +had VBD B-VP +been VBN I-VP +on IN B-PP +the DT B-NP +decline NN I-NP +since IN B-SBAR +the DT B-NP +financing NN I-NP +for IN B-PP +the DT B-NP +UAL NNP I-NP +buy-out NN I-NP +fell VBD B-VP +through IN B-ADVP +on IN B-PP +Friday NNP B-NP +and CC O +developer NN B-NP +Donald NNP I-NP +Trump NNP I-NP +subsequently RB B-ADVP +withdrew VBD B-VP +a DT B-NP +takeover NN I-NP +offer NN I-NP +of IN B-PP +$ $ B-NP +120 CD I-NP +a DT B-NP +share NN I-NP +for IN B-PP +AMR NNP B-NP +. . O + +Also RB B-ADVP +, , O +AMR NNP B-NP +was VBD B-VP +the DT B-NP +most RBS I-NP +active JJ I-NP +Big NNP I-NP +Board NNP I-NP +issue NN I-NP +; : O +2.8 CD B-NP +million CD I-NP +shares NNS I-NP +changed VBD B-VP +hands NNS B-NP +. . O + +GTE NNP B-NP +added VBD B-VP +1 CD B-NP +1\/4 CD I-NP +to TO B-PP +65 CD B-NP +3\/8 CD I-NP +. . O + +PaineWebber NNP B-NP +repeated VBD B-VP +a DT B-NP +buy NN I-NP +recommendation NN I-NP +on IN B-PP +the DT B-NP +stock NN I-NP +and CC O +raised VBN B-VP +its PRP$ B-NP +1990 CD I-NP +earnings NNS I-NP +estimate NN I-NP +by IN B-PP +35 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +to TO B-PP +$ $ B-NP +5.10 CD I-NP +. . O + +Colgate-Palmolive NNP B-NP +advanced VBD B-VP +1 CD B-NP +5\/8 CD I-NP +to TO B-PP +63 CD B-NP +after IN B-PP +saying VBG B-VP +it PRP B-NP +was VBD B-VP +comfortable JJ B-ADJP +with IN B-PP +analysts NNS B-NP +' POS B-NP +projections NNS I-NP +that IN B-SBAR +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +from IN B-PP +continuing VBG B-NP +operations NNS I-NP +would MD B-VP +be VB I-VP +between IN B-PP +95 CD B-NP +cents NNS I-NP +and CC O +$ $ B-NP +1.05 CD I-NP +a DT B-NP +share NN I-NP +, , O +up IN B-ADVP +from IN B-PP +69 CD B-NP +cents NNS I-NP +a DT B-NP +year NN I-NP +ago RB B-ADVP +. . O + +Springs NNP B-NP +Industries NNPS I-NP +dropped VBD B-VP +1 CD B-NP +3\/8 CD I-NP +to TO B-PP +36 CD B-NP +. . O + +Analysts NNS B-NP +at IN B-PP +several JJ B-NP +brokerage NN I-NP +firms NNS I-NP +lowered VBD B-VP +their PRP$ B-NP +1989 CD I-NP +and CC I-NP +1990 CD I-NP +earnings NNS I-NP +estimates NNS I-NP +on IN B-PP +the DT B-NP +company NN I-NP +after IN B-SBAR +its PRP$ B-NP +third-quarter JJ I-NP +results NNS I-NP +proved VBD B-VP +disappointing JJ B-ADJP +. . O + +Trinova NNP B-NP +third-quarter JJ I-NP +loss NN I-NP +after IN B-PP +a DT B-NP +charge NN I-NP +for IN B-PP +a DT B-NP +planned VBN I-NP +restructuring NN I-NP +, , O +which WDT B-NP +will MD B-VP +include VB I-VP +the DT B-NP +closing VBG I-NP +or CC I-NP +downsizing VBG I-NP +of IN B-PP +about IN B-NP +25 CD I-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +plants NNS I-NP +and CC O +a DT B-NP +work NN I-NP +force NN I-NP +cut NN I-NP +of IN B-PP +about IN B-NP +1,500 CD I-NP +over IN B-PP +three CD B-NP +years NNS I-NP +. . O + +The DT B-NP +Amex NNP I-NP +Market NNP I-NP +Value NNP I-NP +Index NNP I-NP +snapped VBD B-VP +a DT B-NP +five-session JJ I-NP +losing NN I-NP +streak NN I-NP +by IN B-PP +rising VBG B-VP +2.91 CD B-NP +to TO B-PP +378.07 CD B-NP +. . O + +Volume NN B-NP +totaled VBD B-VP +12,500,000 CD B-NP +shares NNS I-NP +. . O + +Carnival NNP B-NP +Cruise NNP I-NP +Lines NNP I-NP +Class NNP I-NP +A DT I-NP +rose VBD B-VP +1 CD B-NP +1\/4 CD I-NP +to TO B-PP +22 CD B-NP +3\/8 CD I-NP +. . O + +The DT B-NP +company NN I-NP +, , O +citing VBG B-VP +market NN B-NP +conditions NNS I-NP +, , O +postponed VBD B-VP +a DT B-NP +$ $ I-NP +200 CD I-NP +million CD I-NP +debt NN I-NP +offer NN I-NP +. . O + +Philip NNP B-NP +Morris NNP I-NP +Cos. NNP I-NP +posted VBD B-VP +a DT B-NP +20 CD I-NP +% NN I-NP +jump NN I-NP +in IN B-PP +third-quarter JJ B-NP +profit NN I-NP +on IN B-PP +a DT B-NP +45 CD I-NP +% NN I-NP +revenue NN I-NP +increase NN I-NP +, , O +reflecting VBG B-VP +strength NN B-NP +in IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +cigarette NN I-NP +, , I-NP +food NN I-NP +and CC I-NP +brewing NN I-NP +businesses NNS I-NP +. . O + +Net JJ B-NP +income NN I-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +748 CD I-NP +million CD I-NP +, , O +or CC O +81 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +the DT B-NP +year-earlier JJ I-NP +$ $ I-NP +621 CD I-NP +million CD I-NP +, , O +or CC O +67 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +. . O + +Per-share JJ B-NP +figures NNS I-NP +have VBP B-VP +been VBN I-VP +adjusted VBN I-VP +for IN B-PP +a DT B-NP +4-for-1 JJ I-NP +stock NN I-NP +split NN I-NP +paid VBN B-VP +earlier RBR B-NP +this DT I-NP +month NN I-NP +. . O + +The DT B-NP +New NNP I-NP +York-based JJ I-NP +tobacco NN I-NP +, , I-NP +food NN I-NP +and CC I-NP +beer NN I-NP +concern NN I-NP +said VBD B-VP +revenue NN B-NP +increased VBN B-VP +to TO B-PP +$ $ B-NP +11.25 CD I-NP +billion CD I-NP +from IN B-PP +$ $ B-NP +7.74 CD I-NP +billion CD I-NP +. . O + +In IN B-PP +composite JJ B-NP +trading NN I-NP +on IN B-PP +the DT B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +, , O +Philip NNP B-NP +Morris NNP I-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +43.375 CD I-NP +, , O +up IN B-ADVP +12.5 CD B-NP +cents NNS I-NP +. . O + +Philip NNP B-NP +Morris NNP I-NP +disclosed VBD B-VP +little RB B-NP +detailed VBN I-NP +information NN I-NP +about IN B-PP +performance NN B-NP +by IN B-PP +major JJ B-NP +business NN I-NP +lines NNS I-NP +except VB O +to TO B-VP +say VB I-VP +that IN B-SBAR +most RBS B-NP +, , O +including VBG B-PP +Philip NNP B-NP +Morris NNP I-NP +U.S.A. NNP I-NP +, , O +Kraft NNP B-NP +General NNP I-NP +Foods NNPS I-NP +and CC O +Miller NNP B-NP +Brewing NNP I-NP +Co. NNP I-NP +, , O +posted VBD B-VP +increased VBN B-NP +revenues NNS I-NP +. . O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +net JJ B-NP +increased VBN B-VP +4.4 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +2.08 CD I-NP +billion CD I-NP +, , O +or CC O +$ $ B-NP +2.25 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +2 CD I-NP +billion CD I-NP +, , O +which WDT B-NP +included VBD B-VP +$ $ B-NP +273 CD I-NP +million CD I-NP +reflecting VBG B-VP +the DT B-NP +effect NN I-NP +of IN B-PP +an DT B-NP +accounting NN I-NP +change NN I-NP +. . O + +Granges NNP B-NP +Inc. NNP I-NP +, , O +citing VBG B-VP +depressed JJ B-NP +gold NN I-NP +prices NNS I-NP +, , O +said VBD B-VP +it PRP B-NP +plans VBZ B-VP +to TO I-VP +suspend VB I-VP +operations NNS B-NP +for IN B-PP +an DT B-NP +indefinite JJ I-NP +period NN I-NP +at IN B-PP +its PRP$ B-NP +Tartan NNP I-NP +gold NN I-NP +mine NN I-NP +in IN B-PP +Manitoba NNP B-NP +. . O + +Granges NNP B-NP +said VBD B-VP +in IN B-PP +Vancouver NNP B-NP +, , O +British NNP B-NP +Columbia NNP I-NP +, , O +that IN B-SBAR +the DT B-NP +production NN I-NP +halt NN I-NP +will MD B-VP +be VB I-VP +phased VBN I-VP +in IN B-ADVP +over IN B-PP +a DT B-NP +10-week JJ I-NP +period NN I-NP +. . O + +Tartan NNP B-NP +currently RB B-ADVP +produces VBZ B-VP +gold NN B-NP +at IN B-PP +a DT B-NP +cash NN I-NP +operating VBG I-NP +cost NN I-NP +of IN B-PP +$ $ B-NP +393 CD I-NP +an DT B-NP +ounce NN I-NP +, , O +which WDT B-NP +is VBZ B-VP +high JJ B-ADJP +by IN B-PP +industry NN B-NP +standards NNS I-NP +and CC O +$ $ B-NP +25 CD I-NP +or CC I-NP +so RB I-NP +above IN B-PP +the DT B-NP +current JJ I-NP +spot NN I-NP +price NN I-NP +. . O + +Granges NNP B-NP +said VBD B-VP +it PRP B-NP +also RB B-ADVP +plans VBZ B-VP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +to TO B-VP +write VB I-VP +down RP B-PRT +the DT B-NP +carrying VBG I-NP +value NN I-NP +of IN B-PP +the DT B-NP +Tartan NNP I-NP +mine NN I-NP +by IN B-PP +2.5 CD B-NP +million CD I-NP +Canadian JJ I-NP +dollars NNS I-NP +-LRB- ( O +US$ $ B-NP +2.12 CD I-NP +million CD I-NP +-RRB- ) O +, , O +and CC O +to TO B-VP +write VB I-VP +off IN B-PRT +most RBS B-NP +of IN B-PP +the DT B-NP +C$ $ I-NP +6.3 CD I-NP +million CD I-NP +carrying VBG I-NP +value NN I-NP +of IN B-PP +its PRP$ B-NP +Windflower NNP I-NP +gold NN I-NP +property NN I-NP +in IN B-PP +British NNP B-NP +Columbia NNP I-NP +. . O + +Granges NNP B-NP +did VBD B-VP +n't RB I-VP +say VB I-VP +what WP B-NP +impact NN I-NP +the DT B-NP +moves NNS I-NP +would MD B-VP +have VB I-VP +on IN B-PP +total JJ B-NP +gold NN I-NP +output NN I-NP +or CC O +earnings NNS B-NP +, , O +and CC O +company NN B-NP +officials NNS I-NP +were VBD B-VP +n't RB O +available JJ B-ADJP +. . O + +Computer NNP B-NP +Associates NNP I-NP +International NNP I-NP +Inc. NNP I-NP +, , O +Garden NNP B-NP +City NNP I-NP +, , O +N.Y. NNP B-NP +, , O +and CC O +Digital NNP B-NP +Equipment NNP I-NP +Corp. NNP I-NP +said VBD B-VP +they PRP B-NP +agreed VBD B-VP +to TO I-VP +jointly RB I-VP +develop VB I-VP +software NN B-NP +to TO B-VP +help VB I-VP +manage VB I-VP +Digital NNP B-NP +'s POS B-NP +Vax NNP I-NP +computers NNS I-NP +. . O + +Computer NNP B-NP +Associates NNPS I-NP +has VBZ B-VP +carved VBN I-VP +out RP B-PRT +a DT B-NP +huge JJ I-NP +business NN I-NP +selling VBG B-VP +such JJ B-NP +software NN I-NP +for IN B-PP +use NN B-NP +in IN B-PP +managing VBG B-NP +networks NNS I-NP +of IN B-PP +International NNP B-NP +Business NNP I-NP +Machines NNP I-NP +Corp. NNP I-NP +computers NNS I-NP +but CC O +needs VBZ B-VP +to TO I-VP +find VB I-VP +new JJ B-NP +markets NNS I-NP +if IN B-SBAR +it PRP B-NP +is VBZ B-VP +to TO I-VP +maintain VB I-VP +its PRP$ B-NP +growth NN I-NP +rate NN I-NP +of IN B-PP +30 CD B-NP +% NN I-NP +and CC I-NP +more JJR I-NP +each DT B-NP +year NN I-NP +. . O + +The DT B-NP +market NN I-NP +for IN B-PP +system-management NN B-NP +software NN I-NP +for IN B-PP +Digital NNP B-NP +'s POS B-NP +hardware NN I-NP +is VBZ B-VP +fragmented JJ I-VP +enough RB B-ADVP +that IN B-SBAR +a DT B-NP +giant NN I-NP +such JJ B-PP +as IN I-PP +Computer NNP B-NP +Associates NNPS I-NP +should MD B-VP +do VB I-VP +well RB B-ADVP +there RB B-ADVP +. . O + +At IN B-PP +the DT B-NP +same JJ I-NP +time NN I-NP +, , O +the DT B-NP +market NN I-NP +is VBZ B-VP +smaller JJR B-ADJP +than IN B-PP +the DT B-NP +market NN I-NP +for IN B-PP +IBM-compatible JJ B-NP +software NN I-NP +. . O + +For IN B-PP +one CD B-NP +thing NN I-NP +, , O +Digital NNP B-NP +, , O +Maynard NNP B-NP +, , O +Mass. NNP B-NP +, , O +has VBZ B-VP +sold VBN I-VP +fewer JJR B-NP +machines NNS I-NP +. . O + +In IN B-PP +addition NN B-NP +, , O +its PRP$ B-NP +machines NNS I-NP +are VBP B-VP +typically RB B-ADVP +easier JJR B-ADJP +to TO B-VP +operate VB I-VP +, , O +so RB O +customers NNS B-NP +require VBP B-VP +less JJR B-NP +assistance NN I-NP +from IN B-PP +software NN B-NP +. . O + +Wang NNP B-NP +Laboratories NNP I-NP +Inc. NNP I-NP +, , O +Lowell NNP B-NP +, , O +Mass. NNP B-NP +, , O +beset VBN B-VP +by IN B-PP +declining VBG B-NP +demand NN I-NP +for IN B-PP +its PRP$ B-NP +computers NNS I-NP +, , O +reported VBD B-VP +a DT B-NP +$ $ I-NP +62.1 CD I-NP +million CD I-NP +, , I-NP +38-cents-a-share JJ I-NP +loss NN I-NP +in IN B-PP +its PRP$ B-NP +first JJ I-NP +quarter NN I-NP +ended VBN B-VP +Sept. NNP B-NP +30 CD I-NP +. . O + +Revenue NN B-NP +fell VBD B-VP +12.7 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +596.8 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +684 CD I-NP +million CD I-NP +, , O +although IN B-SBAR +some DT B-NP +of IN B-PP +the DT B-NP +decline NN I-NP +was VBD B-VP +caused VBN I-VP +by IN B-PP +discontinued JJ B-NP +operations NNS I-NP +. . O + +Wang NNP B-NP +had VBD B-VP +previously RB I-VP +forecast VBP I-VP +a DT B-NP +loss NN I-NP +. . O + +The DT B-NP +company NN I-NP +reiterated VBD B-VP +that IN B-SBAR +it PRP B-NP +expects VBZ B-VP +another DT B-NP +loss NN I-NP +in IN B-PP +the DT B-NP +second JJ I-NP +quarter NN I-NP +and CC B-PP +for IN B-PP +the DT B-NP +full JJ I-NP +year NN I-NP +, , O +although IN B-SBAR +it PRP B-NP +expects VBZ B-VP +a DT B-NP +profitable JJ I-NP +fourth JJ I-NP +quarter NN I-NP +. . O + +A DT B-NP +year NN I-NP +ago RB B-ADVP +, , O +Wang NNP B-NP +had VBD B-VP +earnings NNS B-NP +of IN B-PP +$ $ B-NP +13.1 CD I-NP +million CD I-NP +, , O +or CC O +eight CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +its PRP$ B-NP +first JJ I-NP +quarter NN I-NP +, , O +including VBG B-PP +a DT B-NP +$ $ I-NP +3.1 CD I-NP +million CD I-NP +loss NN I-NP +from IN B-PP +discontinued VBN B-NP +operations NNS I-NP +. . O + +The DT B-NP +latest JJS I-NP +period NN I-NP +loss NN I-NP +included VBD B-VP +a DT B-NP +$ $ I-NP +12.9 CD I-NP +pretax JJ I-NP +charge NN I-NP +for IN B-PP +severance NN B-NP +payments NNS I-NP +. . O + +Dayton NNP B-NP +Hudson NNP I-NP +Corp. NNP I-NP +said VBD B-VP +it PRP B-NP +accepted VBD B-VP +for IN B-PP +purchase NN B-NP +seven CD B-NP +million CD I-NP +common JJ I-NP +shares NNS I-NP +at IN B-PP +$ $ B-NP +62.875 CD I-NP +each DT B-NP +, , O +under IN B-PP +the DT B-NP +terms NNS I-NP +of IN B-PP +a DT B-NP +Dutch JJ I-NP +auction NN I-NP +self-tender JJ I-NP +offer NN I-NP +. . O + +The DT B-NP +offer NN I-NP +expired VBD B-VP +at IN B-PP +12:01 CD B-NP +a.m. NN I-NP +yesterday NN B-NP +. . O + +In IN B-PP +a DT B-NP +Dutch JJ I-NP +auction NN I-NP +, , O +the DT B-NP +buyer NN I-NP +sets VBZ B-VP +a DT B-NP +price NN I-NP +range NN I-NP +and CC O +holders NNS B-NP +give VBP B-VP +a DT B-NP +price NN I-NP +in IN B-PP +that DT B-NP +range NN I-NP +at IN B-PP +which WDT B-NP +they PRP B-NP +'re VBP B-VP +willing JJ B-ADJP +to TO B-VP +sell VB I-VP +their PRP$ B-NP +shares NNS I-NP +. . O + +The DT B-NP +buyer NN I-NP +then RB B-ADVP +picks VBZ B-VP +a DT B-NP +price NN I-NP +and CC O +buys VBZ B-VP +shares NNS B-NP +at IN B-PP +that DT B-NP +price NN I-NP +from IN B-PP +holders NNS B-NP +who WP B-NP +offered VBD B-VP +to TO I-VP +sell VB I-VP +at IN B-PP +that DT B-NP +price NN I-NP +or CC O +lower JJR B-ADVP +. . O + +Dayton NNP B-NP +Hudson NNP I-NP +'s POS B-NP +repurchase NN I-NP +offer NN I-NP +, , O +representing VBG B-VP +about IN B-NP +9 CD I-NP +% NN I-NP +of IN B-PP +its PRP$ B-NP +common JJ I-NP +shares NNS I-NP +outstanding JJ B-ADJP +, , O +had VBD B-VP +established VBN I-VP +a DT B-NP +range NN I-NP +of IN B-PP +between IN B-NP +$ $ I-NP +60 CD I-NP +and CC I-NP +$ $ I-NP +65 CD I-NP +for IN B-PP +the DT B-NP +buy-back NN I-NP +. . O + +Dayton NNP B-NP +Hudson NNP I-NP +said VBD B-VP +it PRP B-NP +accepted VBD B-VP +all DT B-NP +odd-lot JJ I-NP +shares NNS I-NP +tendered VBN B-VP +at IN B-PP +or CC I-PP +below IN I-PP +the DT B-NP +final JJ I-NP +$ $ I-NP +62.875 CD I-NP +price NN I-NP +; : O +the DT B-NP +preliminary JJ I-NP +proration NN I-NP +factor NN I-NP +for IN B-PP +other JJ B-NP +shares NNS I-NP +tendered VBN B-VP +at IN B-PP +or CC I-PP +below IN I-PP +the DT B-NP +final JJ I-NP +price NN I-NP +is VBZ B-VP +98 CD B-NP +% NN I-NP +. . O + +The DT B-NP +Minneapolis-based JJ I-NP +retailer NN I-NP +said VBD B-VP +it PRP B-NP +expects VBZ B-VP +to TO I-VP +pay VB I-VP +for IN B-PP +the DT B-NP +seven CD I-NP +million CD I-NP +shares NNS I-NP +next JJ B-NP +Thursday NNP I-NP +. . O + +Tendered JJ B-NP +shares NNS I-NP +not RB B-VP +purchased VBN I-VP +will MD B-VP +be VB I-VP +returned VBN I-VP +to TO B-PP +holders NNS B-NP +. . O + +In IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +, , O +Dayton NNP B-NP +rose VBD B-VP +$ $ B-NP +1 CD I-NP +to TO B-PP +$ $ B-NP +61.125 CD I-NP +. . O + +Continental NNP B-NP +Bank NNP I-NP +Corp. NNP I-NP +'s POS B-NP +third-quarter JJ I-NP +net JJ I-NP +income NN I-NP +slipped VBD B-VP +11 CD B-NP +% NN I-NP +despite IN B-PP +a DT B-NP +big JJ I-NP +gain NN I-NP +from IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +the DT B-NP +company NN I-NP +'s POS B-NP +London NNP I-NP +headquarters NN I-NP +building NN I-NP +. . O + +The DT B-NP +$ $ I-NP +55 NN I-NP +million CD I-NP +gain NN I-NP +on IN B-PP +the DT B-NP +sale NN I-NP +was VBD B-VP +offset VBN I-VP +by IN B-PP +lower JJR B-NP +interest NN I-NP +income NN I-NP +, , O +poorer JJR B-NP +results NNS I-NP +from IN B-PP +foreign-exchange JJ B-NP +trading NN I-NP +and CC O +a DT B-NP +$ $ I-NP +9 CD I-NP +million CD I-NP +loss NN I-NP +on IN B-PP +the DT B-NP +sale NN I-NP +of IN B-PP +a DT B-NP +unit NN I-NP +, , O +Securities NNP B-NP +Settlement NNP I-NP +Corp NNP I-NP +. . O + +Chicago-based JJ B-NP +Continental NNP I-NP +earned VBD B-VP +$ $ B-NP +65.2 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.04 CD I-NP +a DT B-NP +share NN I-NP +, , O +compared VBN B-PP +with IN B-PP +$ $ B-NP +73.6 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.19 CD I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +The DT B-NP +1988 CD I-NP +quarter NN I-NP +also RB B-ADVP +included VBD B-VP +one-time JJ B-NP +gains NNS I-NP +totaling VBG B-VP +about RB B-NP +$ $ I-NP +35 CD I-NP +million CD I-NP +. . O + +The DT B-NP +bank NN I-NP +, , O +which WDT B-NP +has VBZ B-VP +loss NN B-NP +reserves NNS I-NP +equal JJ B-ADJP +to TO B-PP +about IN B-NP +half VB I-NP +its PRP$ I-NP +long-term JJ I-NP +and CC I-NP +medium-term JJ I-NP +loans NNS I-NP +to TO B-PP +less-developed JJ B-NP +nations NNS I-NP +, , O +said VBD B-VP +it PRP B-NP +does VBZ B-VP +n't RB I-VP +think VB I-VP +additional JJ B-NP +reserves NNS I-NP +are VBP B-VP +required VBN I-VP +. . O + +Enron NNP B-NP +Corp. NNP I-NP +said VBD B-VP +a DT B-NP +subsidiary NN I-NP +and CC O +two CD B-NP +United NNP I-NP +Kingdom NNP I-NP +firms NNS I-NP +are VBP B-VP +studying VBG I-VP +the DT B-NP +feasibility NN I-NP +of IN B-PP +constructing VBG B-VP +a DT B-NP +1,500 CD I-NP +megawatt NN I-NP +gas-fired JJ I-NP +power NN I-NP +plant NN I-NP +in IN B-PP +northern JJ B-NP +England NNP I-NP +as IN B-PP +an DT B-NP +outgrowth NN I-NP +of IN B-PP +the DT B-NP +government NN I-NP +'s POS B-NP +privatization NN I-NP +program NN I-NP +. . O + +Enron NNP B-NP +Power NNP I-NP +Corp. NNP I-NP +, , O +a DT B-NP +unit NN I-NP +of IN B-PP +the DT B-NP +Houston NNP I-NP +natural JJ I-NP +gas NN I-NP +pipeline NN I-NP +company NN I-NP +, , O +would MD B-VP +design VB I-VP +, , I-VP +construct VB I-VP +and CC I-VP +run VB I-VP +the DT B-NP +plant NN I-NP +. . O + +Gas NNP B-NP +to TO B-VP +fuel VB I-VP +it PRP B-NP +would MD B-VP +be VB I-VP +piped VBN I-VP +from IN B-PP +the DT B-NP +North NNP I-NP +Sea NNP I-NP +. . O + +A DT B-NP +subsidiary NN I-NP +of IN B-PP +Britain NNP B-NP +'s POS B-NP +Imperial NNP I-NP +Chemical NNP I-NP +Industries NNPS I-NP +would MD B-VP +buy VB I-VP +electricity NN B-NP +and CC I-NP +steam NN I-NP +from IN B-PP +the DT B-NP +proposed VBN I-NP +station NN I-NP +. . O + +Surplus JJ B-NP +power NN I-NP +would MD B-VP +be VB I-VP +sold VBN I-VP +on IN B-PP +the DT B-NP +open JJ I-NP +market NN I-NP +, , O +Enron NNP B-NP +said VBD B-VP +. . O + +Also RB B-ADVP +participating VBG B-VP +in IN B-PP +the DT B-NP +study NN I-NP +, , O +Enron NNP B-NP +said VBD B-VP +, , O +is VBZ B-VP +the DT B-NP +National NNP I-NP +Power NNP I-NP +division NN I-NP +of IN B-PP +Britain NNP B-NP +'s POS B-NP +Central NNP I-NP +Electricity NNP I-NP +Generating NNP I-NP +Board NNP I-NP +. . O + +Upon IN B-PP +privatization NN B-NP +, , O +National NNP B-NP +Power NNP I-NP +will MD B-VP +be VB I-VP +responsible JJ B-ADJP +for IN B-PP +70 CD B-NP +% NN I-NP +of IN B-PP +the DT B-NP +country NN I-NP +'s POS B-NP +power NN I-NP +generating VBG I-NP +business NN I-NP +. . O + +Viacom NNP B-NP +Inc. NNP I-NP +, , O +New NNP B-NP +York NNP I-NP +, , O +reported VBD B-VP +that IN B-SBAR +its PRP$ B-NP +third-quarter JJ I-NP +loss NN I-NP +widened VBD B-VP +to TO B-PP +$ $ B-NP +21.7 CD I-NP +million CD I-NP +, , O +or CC O +41 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +primarily RB B-ADVP +because IN B-PP +of IN I-PP +interest NN B-NP +expense NN I-NP +of IN B-PP +$ $ B-NP +70.1 CD I-NP +million CD I-NP +. . O + +A DT B-NP +year NN I-NP +ago RB B-ADVP +, , O +Viacom NNP B-NP +had VBD B-VP +a DT B-NP +net JJ I-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +56.9 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.07 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Interest NN B-NP +expense NN I-NP +in IN B-PP +the DT B-NP +1988 CD I-NP +third JJ I-NP +quarter NN I-NP +was VBD B-VP +$ $ B-NP +75.3 CD I-NP +million CD I-NP +. . O + +In IN B-PP +the DT B-NP +year-ago JJ I-NP +quarter NN I-NP +, , O +Viacom NNP B-NP +also RB B-ADVP +paid VBD B-VP +preferred JJ B-NP +stock NN I-NP +dividends NNS I-NP +of IN B-PP +$ $ B-NP +17 CD I-NP +million CD I-NP +; : O +Viacom NNP B-NP +exchanged VBD B-VP +its PRP$ B-NP +preferred JJ I-NP +stock NN I-NP +for IN B-PP +debt NN B-NP +in IN B-PP +March NNP B-NP +. . O + +The DT B-NP +communications NNS I-NP +and CC I-NP +entertainment NN I-NP +company NN I-NP +said VBD B-VP +revenue NN B-NP +rose VBD B-VP +to TO B-PP +$ $ B-NP +345.5 CD I-NP +million CD I-NP +, , O +from IN B-PP +$ $ B-NP +311.6 CD I-NP +million CD I-NP +. . O + +Viacom NNP B-NP +attributed VBD B-VP +the DT B-NP +improvement NN I-NP +to TO B-PP +higher JJR B-NP +earnings NNS I-NP +from IN B-PP +operations NNS B-NP +in IN B-PP +its PRP$ B-NP +networks NNS I-NP +segment VBP I-NP +, , O +which WDT B-NP +includes VBZ B-VP +the DT B-NP +MTV NNP I-NP +and CC I-NP +Showtime NNP I-NP +networks NNS I-NP +. . O + +Viacom NNP B-NP +said VBD B-VP +it PRP B-NP +also RB B-ADVP +restructured VBD B-VP +bank NN B-NP +debt NN I-NP +under IN B-PP +a DT B-NP +$ $ I-NP +1.5 CD I-NP +billion CD I-NP +unsecured JJ I-NP +bank NN I-NP +agreement NN I-NP +that WDT B-NP +offers VBZ B-VP +significant JJ B-NP +interest NN I-NP +rate NN I-NP +savings NNS I-NP +. . O + +Sumner NNP B-NP +M. NNP I-NP +Redstone NNP I-NP +, , O +Viacom NNP B-NP +'s POS B-NP +chairman NN I-NP +, , O +said VBD B-VP +Viacom NNP B-NP +`` `` O +emerged VBD B-VP +from IN B-PP +our PRP$ B-NP +leveraged JJ I-NP +buy-out NN I-NP +structure NN I-NP +and CC O +gained VBD B-VP +substantial JJ B-NP +operating NN I-NP +and CC I-NP +financial JJ I-NP +flexibility NN I-NP +through IN B-PP +'' '' O +the DT B-NP +bank NN I-NP +pact NN I-NP +. . O + +Trinova NNP B-NP +Corp. NNP I-NP +, , O +Maumee NNP B-NP +, , O +Ohio NNP B-NP +, , O +said VBD B-VP +it PRP B-NP +is VBZ B-VP +launching VBG I-VP +an DT B-NP +extensive JJ I-NP +restructuring NN I-NP +of IN B-PP +its PRP$ B-NP +core NN I-NP +business NN I-NP +, , O +and CC O +took VBD B-VP +a DT B-NP +charge NN I-NP +that WDT B-NP +resulted VBD B-VP +in IN B-PP +a DT B-NP +loss NN I-NP +of IN B-PP +$ $ B-NP +29.7 CD I-NP +million CD I-NP +, , O +or CC O +87 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +for IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +. . O + +Trinova NNP B-NP +said VBD B-VP +it PRP B-NP +will MD B-VP +close VB I-VP +, , I-VP +move NN I-VP +or CC I-VP +overhaul NN I-VP +40 CD B-NP +of IN B-PP +its PRP$ B-NP +170 CD I-NP +manufacturing NN I-NP +facilities NNS I-NP +and CC O +over IN B-PP +the DT B-NP +next JJ I-NP +three CD I-NP +years NNS I-NP +cut VBP B-VP +1,500 CD B-NP +jobs NNS I-NP +from IN B-PP +its PRP$ B-NP +current JJ I-NP +world-wide JJ I-NP +payroll NN I-NP +of IN B-PP +22,300 CD B-NP +employees NNS I-NP +. . O + +Most JJS B-NP +of IN B-PP +the DT B-NP +factory NN I-NP +closings NNS I-NP +and CC I-NP +job NN I-NP +cutbacks NNS I-NP +will MD B-VP +affect VB I-VP +Trinova NNP B-NP +'s POS B-NP +Aeroquip NNP I-NP +operations NNS I-NP +, , O +which WDT B-NP +manufacture VBP B-VP +automotive JJ B-NP +plastics NNS I-NP +, , O +hoses NNS B-NP +and CC O +other JJ B-NP +industrial JJ I-NP +and CC I-NP +automotive JJ I-NP +parts NNS I-NP +. . O + +Hoses NNS B-NP +and CC I-NP +plastics NNS I-NP +together RB B-ADVP +account VBP B-VP +for IN B-PP +about IN B-NP +42 CD I-NP +% NN I-NP +of IN B-PP +Trinova NNP B-NP +'s POS B-NP +total JJ I-NP +annual JJ I-NP +sales NNS I-NP +. . O + +In IN B-PP +a DT B-NP +separate JJ I-NP +announcement NN I-NP +, , O +Trinova NNP B-NP +said VBD B-VP +the DT B-NP +Aeroquip NNP I-NP +group NN I-NP +has VBZ B-VP +agreed VBN I-VP +to TO I-VP +sell VB I-VP +its PRP$ B-NP +spring-brake NN I-NP +, , I-NP +piston-brake NN I-NP +and CC I-NP +related VBN I-NP +businesses NNS I-NP +to TO B-PP +Midland NNP B-NP +Brake NNP I-NP +Inc. NNP I-NP +of IN B-PP +Branford NNP B-NP +, , O +Conn NNP B-NP +. . O + +Terms NNS B-NP +were VBD B-VP +n't RB I-VP +disclosed VBN I-VP +. . O + +To TO B-VP +provide VB I-VP +for IN B-PP +the DT B-NP +restructuring NN I-NP +'s POS B-NP +costs NNS I-NP +, , O +Trinova NNP B-NP +said VBD B-VP +it PRP B-NP +took VBD B-VP +an DT B-NP +after-tax JJ I-NP +charge NN I-NP +of IN B-PP +$ $ B-NP +38.5 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.13 CD I-NP +a DT B-NP +share NN I-NP +, , O +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +. . O + +The DT B-NP +$ $ I-NP +29.7 CD I-NP +million CD I-NP +net JJ I-NP +loss NN I-NP +compares VBZ B-VP +with IN B-PP +net JJ B-NP +income NN I-NP +of IN B-PP +$ $ B-NP +19.6 CD I-NP +million CD I-NP +, , O +or CC O +57 CD B-NP +cents NNS I-NP +a DT B-NP +share NN I-NP +, , O +a DT B-NP +year NN I-NP +earlier RBR B-ADVP +. . O + +Sales NNS B-NP +rose VBD B-VP +8 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +456.2 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +422 CD I-NP +million CD I-NP +. . O + +Trinova NNP B-NP +closed VBD B-VP +at IN B-PP +$ $ B-NP +25 CD I-NP +, , O +down RB B-ADVP +$ $ B-NP +1 CD I-NP +, , O +in IN B-PP +New NNP B-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +composite JJ I-NP +trading NN I-NP +. . O + +A DT B-NP +group NN I-NP +of IN B-PP +investors NNS B-NP +, , O +including VBG B-VP +Giancarlo NNP B-NP +Parretti NNP I-NP +'s POS B-NP +Pathe NNP I-NP +Communications NNP I-NP +Corp. NNP I-NP +and CC O +Sasea NNP B-NP +Holding NNP I-NP +S.A. NNP I-NP +, , O +have VBP B-VP +agreed VBN I-VP +to TO I-VP +buy VB I-VP +76.66 CD B-NP +% NN I-NP +of IN B-PP +Odeon NNP B-NP +Finanziaria NNP I-NP +, , O +a DT B-NP +financially RB I-NP +troubled JJ I-NP +Italian JJ I-NP +TV NN I-NP +station NN I-NP +. . O + +Florio NNP B-NP +Fiorini NNP I-NP +, , O +managing VBG B-NP +director NN I-NP +of IN B-PP +Geneva-based JJ B-NP +Sasea NNP I-NP +, , O +said VBD B-VP +the DT B-NP +investors NNS I-NP +would MD B-VP +pay VB I-VP +only RB B-NP +a DT I-NP +symbolic JJ I-NP +one CD I-NP +lira NN I-NP +for IN B-PP +the DT B-NP +station NN I-NP +, , O +`` `` O +but CC O +we PRP B-NP +have VBP B-VP +agreed VBN I-VP +to TO I-VP +raise VB I-VP +the DT B-NP +capital NN I-NP +that WDT B-NP +will MD B-VP +enable VB I-VP +the DT B-NP +company NN I-NP +to TO B-VP +continue VB I-VP +operating VBG I-VP +. . O + +It PRP B-NP +'s VBZ B-VP +sort NN B-NP +of IN B-PP +a DT B-NP +Chapter NN I-NP +11 CD I-NP +situation NN I-NP +, , O +'' '' O +he PRP B-NP +added VBD B-VP +, , O +referring VBG B-VP +to TO B-PP +the DT B-NP +U.S. NNP I-NP +bankruptcy NN I-NP +law NN I-NP +that WDT B-NP +protects VBZ B-VP +companies NNS B-NP +from IN B-PP +creditors NNS B-NP +while IN B-SBAR +they PRP B-NP +restructure VBP B-VP +. . O + +Milan-based JJ B-NP +Odeon NNP I-NP +, , O +which WDT B-NP +draws VBZ B-VP +about IN B-NP +3 CD I-NP +% NN I-NP +of IN B-PP +Italian JJ B-NP +TV NN I-NP +viewers NNS I-NP +, , O +has VBZ B-VP +debt NN B-NP +of IN B-PP +250 CD B-NP +billion CD I-NP +lire NNS I-NP +-LRB- ( O +$ $ B-NP +181.9 CD I-NP +million CD I-NP +-RRB- ) O +, , O +Mr. NNP B-NP +Fiorini NNP I-NP +said VBD B-VP +. . O + +He PRP B-NP +added VBD B-VP +that IN B-SBAR +details NNS B-NP +of IN B-PP +the DT B-NP +recapitalization NN I-NP +still RB B-ADVP +have VBP B-VP +to TO I-VP +be VB I-VP +worked VBN I-VP +out IN B-PRT +, , O +but CC O +that IN O +Pathe NNP B-NP +will MD B-VP +take VB I-VP +50 CD B-NP +% NN I-NP +of IN B-PP +Odeon NNP B-NP +, , O +Rome NNP B-NP +film NN I-NP +producer NN I-NP +Bruno NNP I-NP +Lucisano NNP I-NP +will MD B-VP +take VB I-VP +10 CD B-NP +% NN I-NP +and CC O +the DT B-NP +remaining VBG I-NP +16.66 CD I-NP +% NN I-NP +, , O +currently RB B-VP +owned VBN I-VP +by IN B-PP +Sasea NNP B-NP +, , O +will MD B-VP +eventually RB I-VP +be VB I-VP +sold VBN I-VP +to TO B-PP +other JJ B-NP +investors NNS I-NP +. . O + +Calisto NNP B-NP +Tanzi NNP I-NP +, , O +Odeon NNP B-NP +'s POS B-NP +owner NN I-NP +, , O +will MD B-VP +retain VB I-VP +his PRP$ B-NP +23.34 CD I-NP +% NN I-NP +stake NN I-NP +. . O + +Italy NNP B-NP +'s POS B-NP +Supreme NNP I-NP +Court NNP I-NP +this DT B-NP +year NN I-NP +ordered VBD B-VP +Parliament NNP B-NP +to TO B-VP +write VB I-VP +a DT B-NP +law NN I-NP +that WDT B-NP +will MD B-VP +regulate VB I-VP +media NNS B-NP +ownership NN I-NP +. . O + +`` `` O +We PRP B-NP +think VBP B-VP +that IN B-SBAR +it PRP B-NP +'s VBZ B-VP +going VBG I-VP +to TO I-VP +be VB I-VP +far RB B-ADJP +more RBR I-ADJP +favorable JJ I-ADJP +to TO B-VP +own VB I-VP +a DT B-NP +station NN I-NP +before IN B-SBAR +the DT B-NP +law NN I-NP +is VBZ B-VP +passed VBN I-VP +than IN B-SBAR +to TO B-VP +try VB I-VP +to TO I-VP +buy VB I-VP +one CD B-NP +afterward RB B-ADVP +, , O +'' '' O +Mr. NNP B-NP +Fiorini NNP I-NP +said VBD B-VP +. . O + +San NNP B-NP +Francisco NNP I-NP +area NN I-NP +officials NNS I-NP +gave VBD B-VP +the DT B-NP +media NNS I-NP +high JJ B-NP +marks NNS I-NP +for IN B-PP +helping VBG B-VP +people NNS B-NP +find VBP B-VP +shelter NN B-NP +and CC O +obtain VB B-VP +emergency NN B-NP +information NN I-NP +after IN B-PP +Tuesday NNP B-NP +'s POS B-NP +catastrophic JJ I-NP +earthquake NN I-NP +. . O + +`` `` O +The DT B-NP +press NN I-NP +has VBZ B-VP +been VBN I-VP +doing VBG I-VP +an DT B-NP +excellent JJ I-NP +job NN I-NP +. . O + +They PRP B-NP +are VBP B-VP +telling VBG I-VP +people NNS B-NP +what WP B-NP +roads NNS I-NP +are VBP B-VP +closed VBN B-ADJP +and CC O +just RB B-VP +keeping VBG I-VP +the DT B-NP +public RB I-NP +informed VBN B-ADJP +has VBZ B-VP +helped VBN I-VP +to TO I-VP +keep VB I-VP +the DT B-NP +panic NN I-NP +down RB B-PRT +, , O +'' '' O +said VBD B-VP +James NNP B-NP +Ball NNP I-NP +, , O +a DT B-NP +station NN I-NP +supervisor NN I-NP +at IN B-PP +Daly NNP B-NP +City NNP I-NP +Police NNP I-NP +Department NNP I-NP +. . O + +Mr. NNP B-NP +Ball NNP I-NP +noted VBD B-VP +that IN B-SBAR +television NN B-NP +stations NNS I-NP +featured VBD B-VP +people NNS B-NP +holding VBG B-VP +up IN B-PRT +phone NN B-NP +books NNS I-NP +, , O +explaining VBG B-VP +where WRB B-ADVP +to TO B-VP +call VB I-VP +for IN B-PP +help NN B-NP +. . O + +Radio NN B-NP +stations NNS I-NP +provided VBD B-VP +an DT B-NP +emergency NN I-NP +number NN I-NP +for IN B-PP +people NNS B-NP +who WP B-NP +smelled VBD B-VP +gas NN B-NP +but CC O +did VBD B-VP +n't RB I-VP +know VB I-VP +how WRB B-ADVP +to TO B-VP +turn VB I-VP +off IN B-PRT +their PRP$ B-NP +gas NN I-NP +supply NN I-NP +. . O + +Kim NNP B-NP +Schwartz NNP I-NP +, , O +a DT B-NP +spokesperson NN I-NP +for IN B-PP +the DT B-NP +American NNP I-NP +Red NNP I-NP +Cross NNP I-NP +in IN B-PP +Los NNP B-NP +Angeles NNP I-NP +, , O +said VBD B-VP +television NN B-NP +and CC I-NP +radio NN I-NP +stations NNS I-NP +in IN B-PP +San NNP B-NP +Francisco NNP I-NP +played VBD B-VP +a DT B-NP +`` `` I-NP +very RB I-NP +positive JJ I-NP +role NN I-NP +'' '' O +by IN B-PP +providing VBG B-VP +the DT B-NP +address NN I-NP +of IN B-PP +28 CD B-NP +shelters NNS I-NP +of IN B-PP +the DT B-NP +Red NNP I-NP +Cross NNP I-NP +and CC B-PP +by IN B-PP +giving VBG B-VP +out RP B-PRT +the IN B-NP +Red NNP I-NP +Cross NNP I-NP +number NN I-NP +for IN B-PP +contributions NNS B-NP +to TO B-VP +help VB I-VP +earthquake NN B-NP +victims NNS I-NP +-LRB- ( O +1-800-453-9000 CD B-NP +-RRB- ) O +. . O + +The DT B-NP +San NNP I-NP +Francisco NNP I-NP +Examiner NNP I-NP +issued VBD B-VP +a DT B-NP +special JJ I-NP +edition NN I-NP +around IN B-PP +noon NN B-NP +yesterday NN B-NP +that WDT B-NP +was VBD B-VP +filled VBN I-VP +entirely RB B-ADVP +with IN B-PP +earthquake NN B-NP +news NN I-NP +and CC I-NP +information NN I-NP +. . O + +The DT B-NP +Examiner NNP I-NP +and CC O +the DT B-NP +San NNP I-NP +Francisco NNP I-NP +Chronicle NNP I-NP +were VBD B-VP +able JJ B-ADJP +to TO B-VP +publish VB I-VP +despite IN B-PP +Tuesday NNP B-NP +'s POS B-NP +quake NN I-NP +, , O +which WDT B-NP +occurred VBD B-VP +close RB B-ADVP +to TO B-PP +deadline NN B-NP +for IN B-PP +many JJ B-NP +newspapers NNS I-NP +. . O + +Sterling NNP B-NP +Software NNP I-NP +Inc. NNP I-NP +said VBD B-VP +it PRP B-NP +lost VBD B-VP +its PRP$ B-NP +bid NN I-NP +to TO B-VP +supply VB I-VP +software NN B-NP +services NNS I-NP +to TO B-PP +the DT B-NP +National NNP I-NP +Aeronautics NNP I-NP +and CC I-NP +Space NNP I-NP +Administration NNP I-NP +'s POS B-NP +Ames NNP I-NP +Research NNP I-NP +Center NNP I-NP +at IN B-PP +Moffett NNP B-NP +Field NNP I-NP +, , O +Calif NNP B-NP +. . O + +Sterling NNP B-NP +, , O +which WDT B-NP +estimated VBD B-VP +the DT B-NP +value NN I-NP +of IN B-PP +the DT B-NP +contract NN I-NP +at IN B-PP +$ $ B-NP +150 CD I-NP +million CD I-NP +, , O +said VBD B-VP +NASA NNP B-NP +selected VBD B-VP +another DT B-NP +bidder NN I-NP +for IN B-PP +final JJ B-NP +negotiations NNS I-NP +. . O + +In IN B-PP +1988 CD B-NP +, , O +Dallas-based JJ B-NP +Sterling NNP I-NP +protested VBD B-VP +a DT B-NP +similar JJ I-NP +decision NN I-NP +by IN B-PP +NASA NNP B-NP +involving VBG B-VP +the DT B-NP +same JJ I-NP +contract NN I-NP +, , O +claiming VBG B-VP +it PRP B-NP +had VBD B-VP +submitted VBN I-VP +the DT B-NP +lowest JJS I-NP +bid NN I-NP +. . O + +As IN B-PP +a DT B-NP +result NN I-NP +, , O +last JJ B-NP +March NNP I-NP +the DT B-NP +General NNP I-NP +Services NNP I-NP +Administration NNP I-NP +board NN I-NP +of IN B-PP +contract NN B-NP +appeals NNS I-NP +directed VBD B-VP +NASA NNP B-NP +to TO B-VP +reopen VB I-VP +negotiations NNS B-NP +on IN B-PP +the DT B-NP +contract NN I-NP +. . O + +Sterling NNP B-NP +said VBD B-VP +it PRP B-NP +had VBD B-VP +requested VBN I-VP +a DT B-NP +briefing NN I-NP +by IN B-PP +NASA NNP B-NP +but CC O +had VBD B-VP +not RB I-VP +decided VBN I-VP +whether IN B-SBAR +to TO B-VP +protest VB I-VP +the DT B-NP +agency NN I-NP +'s POS B-NP +latest JJS I-NP +decision NN I-NP +. . O + +Consolidated NNP B-NP +Rail NNP I-NP +Corp. NNP I-NP +, , O +New NNP B-NP +York NNP I-NP +, , O +reported VBD B-VP +that IN B-SBAR +third-quarter JJ B-NP +net JJ I-NP +income NN I-NP +climbed VBD B-VP +4.8 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +87 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.27 CD I-NP +a DT B-NP +share NN I-NP +, , O +exceeding VBG B-VP +analysts NNS B-NP +' POS B-NP +expectations NNS I-NP +. . O + +In IN B-PP +the DT B-NP +year-earlier JJ I-NP +quarter NN I-NP +, , O +the DT B-NP +freight NN I-NP +railroad NN I-NP +earned VBD B-VP +$ $ B-NP +83 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +1.21 CD I-NP +a DT B-NP +share NN I-NP +. . O + +James NNP B-NP +A. NNP I-NP +Hagen NNP I-NP +, , O +chairman NN B-NP +and CC O +chief JJ B-NP +executive JJ I-NP +officer NN I-NP +, , O +noted VBD B-VP +that IN B-SBAR +earnings NNS B-NP +advanced VBD B-VP +`` `` O +in IN B-PP +the DT B-NP +face NN I-NP +of IN B-PP +a DT B-NP +drop NN I-NP +in IN B-PP +business NN B-NP +, , O +brought VBN B-VP +on IN B-PRT +by IN B-PP +the DT B-NP +general JJ I-NP +economic JJ I-NP +slowdown NN I-NP +. . O +'' '' O + +Revenue NN B-NP +slipped VBD B-VP +4.6 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +835 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +876 CD I-NP +million CD I-NP +. . O + +For IN B-PP +the DT B-NP +rest NN I-NP +of IN B-PP +1989 CD B-NP +, , O +Mr. NNP B-NP +Hagen NNP I-NP +said VBD B-VP +, , O +Conrail NNP B-NP +'s POS B-NP +traffic NN I-NP +and CC I-NP +revenue NN I-NP +`` `` O +will MD B-VP +reflect VB I-VP +the DT B-NP +sluggish JJ I-NP +economy NN I-NP +, , O +but CC O +Conrail NNP B-NP +will MD B-VP +continue VB I-VP +to TO I-VP +take VB I-VP +steps NNS B-NP +to TO B-VP +control VB I-VP +and CC I-VP +reduce VB I-VP +costs NNS B-NP +. . O +'' '' O + +For IN B-PP +the DT B-NP +nine CD I-NP +months NNS I-NP +, , O +Conrail NNP B-NP +earnings NNS I-NP +grew VBD B-VP +0.4 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +229 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +3.34 CD I-NP +a DT B-NP +share NN I-NP +, , O +from IN B-PP +$ $ B-NP +228 CD I-NP +million CD I-NP +, , O +or CC O +$ $ B-NP +3.31 CD I-NP +a DT B-NP +share NN I-NP +. . O + +Revenue NN B-NP +was VBD B-VP +flat JJ B-ADJP +at IN B-PP +$ $ B-NP +2.59 CD I-NP +billion CD I-NP +. . O + +Georgia NNP B-NP +Gulf NNP I-NP +Corp. NNP I-NP +, , O +hurt VBN B-VP +by IN B-PP +declining VBG B-NP +sales NNS I-NP +and CC O +falling VBG B-NP +chemical NN I-NP +prices NNS I-NP +, , O +said VBD B-VP +third-quarter JJ B-NP +earnings NNS I-NP +fell VBD B-VP +13 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +46.1 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +53.1 CD I-NP +million CD I-NP +in IN B-PP +the DT B-NP +year-earlier JJ I-NP +period NN I-NP +. . O + +Sales NNS B-NP +declined VBD B-VP +10 CD B-NP +% NN I-NP +to TO B-PP +$ $ B-NP +251.2 CD I-NP +million CD I-NP +from IN B-PP +$ $ B-NP +278.7 CD I-NP +million CD I-NP +. . O + +The DT B-NP +Atlanta-based JJ I-NP +chemical NN I-NP +manufacturer NN I-NP +said VBD B-VP +lower JJR B-NP +prices NNS I-NP +hurt VBD B-VP +margins NNS B-NP +for IN B-PP +most RBS B-NP +products NNS I-NP +. . O + +`` `` O +We PRP B-NP +did VBD B-VP +see VB I-VP +some DT B-NP +relief NN I-NP +in IN B-PP +raw JJ B-NP +material NN I-NP +costs NNS I-NP +, , O +but CC O +it PRP B-NP +was VBD B-VP +n't RB O +sufficient JJ B-ADJP +to TO B-VP +offset VB I-VP +the DT B-NP +drop NN I-NP +in IN B-PP +sales NNS B-NP +prices NNS I-NP +, , O +'' '' O +James NNP B-NP +R. NNP I-NP +Kuse NNP I-NP +, , O +the DT B-NP +company NN I-NP +'s POS B-NP +chairman NN I-NP +and CC I-NP +chief JJ I-NP +executive JJ I-NP +officer NN I-NP +said VBD B-VP +in IN B-PP +a DT B-NP +statement NN I-NP +. . O + +On IN B-PP +a DT B-NP +per-share JJ I-NP +basis NN I-NP +, , O +quarterly JJ B-NP +earnings NNS I-NP +remained VBD B-VP +at IN B-PP +$ $ B-NP +1.85 CD I-NP +, , O +the DT B-NP +same JJ I-NP +as IN B-PP +last JJ B-NP +year NN I-NP +, , O +because IN B-PP +of IN I-PP +the DT B-NP +company NN I-NP +'s POS B-NP +share NN I-NP +buy-back NN I-NP +program NN I-NP +. . O + +Georgia NNP B-NP +Gulf NNP I-NP +had VBD B-VP +24.9 CD B-NP +million CD I-NP +shares NNS I-NP +outstanding JJ B-ADJP +on IN B-PP +average JJ B-NP +in IN B-PP +the DT B-NP +quarter NN I-NP +, , O +compared VBN B-PP +with IN B-PP +28.6 CD B-NP +million CD I-NP +in IN B-PP +the DT B-NP +third JJ I-NP +quarter NN I-NP +of IN B-PP +1988 CD B-NP +, , O +adjusted VBN B-VP +for IN B-PP +a DT B-NP +stock NN I-NP +split NN I-NP +paid VBN B-VP +in IN B-PP +January NNP B-NP +1989 CD I-NP +. . O + +In IN B-PP +composite JJ B-NP +New NNP I-NP +York NNP I-NP +Stock NNP I-NP +Exchange NNP I-NP +trading NN I-NP +, , O +stock NN B-NP +in IN B-PP +Georgia NNP B-NP +Gulf NNP I-NP +, , O +which WDT B-NP +has VBZ B-VP +been VBN I-VP +mentioned VBN I-VP +as IN B-PP +a DT B-NP +takeover NN I-NP +candidate NN I-NP +, , O +rose VBD B-VP +$ $ B-NP +2.125 CD I-NP +a DT B-NP +share NN I-NP +to TO B-VP +close VB I-VP +at IN B-PP +$ $ B-NP +46.125 CD I-NP +. . O + +This DT B-NP +temblor-prone JJ I-NP +city NN I-NP +dispatched VBD B-VP +inspectors NNS B-NP +, , O +firefighters NNS B-NP +and CC O +other JJ B-NP +earthquake-trained JJ I-NP +personnel NNS I-NP +to TO B-VP +aid VB I-VP +San NNP B-NP +Francisco NNP I-NP +. . O + +But CC O +a DT B-NP +secondary JJ I-NP +agenda NN I-NP +among IN B-PP +officials NNS B-NP +in IN B-PP +the DT B-NP +City NNP I-NP +of IN B-PP +Angels NNPS B-NP +was VBD B-VP +to TO B-VP +learn VB I-VP +about IN B-PP +the DT B-NP +disaster-contingency NN I-NP +plans VBZ I-NP +that DT B-NP +work NN B-VP +and CC O +those DT B-NP +that WDT B-NP +do VBP B-VP +n't RB O +. . O + +Los NNP B-NP +Angeles NNP I-NP +Mayor NNP I-NP +Tom NNP I-NP +Bradley NNP I-NP +used VBD B-VP +the DT B-NP +opportunity NN I-NP +to TO B-VP +push VB I-VP +the DT B-NP +City NNP I-NP +Council NNP I-NP +harder JJR B-ADVP +to TO B-VP +pass VB I-VP +a DT B-NP +measure NN I-NP +establishing VBG B-VP +a DT B-NP +loss-recovery JJ I-NP +reserve NN I-NP +of IN B-PP +$ $ B-NP +100 CD I-NP +million CD I-NP +. . O + +The DT B-NP +amount NN I-NP +would MD B-VP +help VB I-VP +Los NNP B-NP +Angeles NNP I-NP +cope VB B-VP +in IN B-PP +the DT B-NP +first JJ I-NP +few JJ I-NP +weeks NNS I-NP +after IN B-PP +its PRP$ B-NP +own JJ I-NP +anticipated VBN I-NP +quake NN I-NP +, , O +while IN B-SBAR +waiting VBG B-VP +for IN B-SBAR +federal JJ B-NP +assistance NN I-NP +to TO B-VP +arrive VB I-VP +. . O + +After IN B-SBAR +San NNP B-NP +Francisco NNP I-NP +Mayor NNP I-NP +Art NNP I-NP +Agnos NNP I-NP +spoke VBD B-VP +on IN B-PP +television NN B-NP +of IN B-PP +the DT B-NP +need NN I-NP +for IN B-SBAR +building NN B-NP +inspectors NNS I-NP +to TO B-VP +check VB I-VP +the DT B-NP +soundness NN I-NP +of IN B-PP +buildings NNS B-NP +, , O +Los NNP B-NP +Angeles NNP I-NP +dispatched VBD B-VP +32 CD B-NP +inspectors NNS I-NP +to TO B-VP +help VB I-VP +. . O + +And CC O +the DT B-NP +county NN I-NP +of IN B-PP +Los NNP B-NP +Angeles NNP I-NP +placed VBD B-VP +its PRP$ B-NP +firefighters NNS I-NP +and CC I-NP +sheriffs NNS I-NP +on IN B-PP +alert JJ B-NP +, , O +ready JJ B-ADJP +to TO B-VP +send VB I-VP +in IN B-ADVP +reinforcements NNS B-NP +, , O +and CC O +alerted VBD B-VP +San NNP B-NP +Francisco NNP I-NP +that IN B-SBAR +the DT B-NP +city NN I-NP +has VBZ B-VP +1,000 CD B-NP +hospital NN I-NP +beds NNS I-NP +at IN B-PP +its PRP$ B-NP +disposal NN I-NP +. . O + +Two CD B-NP +Los NNP I-NP +Angeles NNP I-NP +radio NN I-NP +stations NNS I-NP +initiated VBD B-VP +Red NNP B-NP +Cross NNP I-NP +donation NN I-NP +campaigns NNS I-NP +, , O +and CC O +one CD B-NP +Los NNP I-NP +Angeles NNP I-NP +bank NN I-NP +manager NN I-NP +forked JJ B-VP +over IN B-PRT +$ $ B-NP +150,000 CD I-NP +of IN B-PP +his PRP$ B-NP +own JJ I-NP +money NN I-NP +for IN B-PP +relief NN B-NP +purposes NNS I-NP +, , O +the DT B-NP +Red NNP I-NP +Cross NNP I-NP +said VBD B-VP +. . O + +The DT B-NP +Los NNP I-NP +Angeles NNP I-NP +Red NNP I-NP +Cross NNP I-NP +sent VBD B-VP +2,480 CD B-NP +cots NNS I-NP +, , O +500 CD B-NP +blankets NNS I-NP +, , O +and CC O +300 CD B-NP +pints NNS I-NP +of IN B-PP +Type-O JJ B-NP +blood NN I-NP +. . O + +It PRP B-NP +is VBZ B-VP +also RB I-VP +pulling VBG I-VP +20 CD B-NP +people NNS I-NP +out IN B-PP +of IN B-PP +Puerto NNP B-NP +Rico NNP I-NP +, , O +who WP B-NP +were VBD B-VP +helping VBG I-VP +Huricane NNP B-NP +Hugo NNP I-NP +victims NNS I-NP +, , O +and CC O +sending VBG B-VP +them PRP B-NP +to TO B-PP +San NNP B-NP +Francisco NNP I-NP +instead RB B-ADVP +. . O + diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Accounts/users.json b/BotSharp.WebHost/App_Data/DbInitializer/Accounts/users.json deleted file mode 100644 index 16d0b63b..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Accounts/users.json +++ /dev/null @@ -1,13 +0,0 @@ -[ - { - "id": "54cc19ee-e3d5-4d59-a011-fa0121450e36", - "userName": "botsharp", - "email": "support@botsharp.io", - "firstName": "Support", - "lastName": "Botsharp", - "description": "demo account", - "authenticaiton": { - "password": "botsharp" - } - } -] diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/agent.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/agent.json deleted file mode 100644 index c1dbd9a7..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/agent.json +++ /dev/null @@ -1,36 +0,0 @@ -{ - "description": "Whether they\u0027re on the road, working out or relaxing on the couch, your users want complete control of their music. With this agent users can search, pause, skip or shuffle in your app, just by asking.", - "language": "en", - "shortDescription": "Play and control your music and playlists", - "examples": "User: Switch to workout music.\nUser: Put on my late night playlist.\nUser: Can you please play a song from my favorite playlist?\nUser: Play a song from Spotify.\nUser: I want to listen to some music.\nUser: Play an album by Madonna.\nUser: Play something by The Rolling Stones.", - "activeAssistantAgents": [], - "disableInteractionLogs": false, - "disableStackdriverLogs": true, - "googleAssistant": { - "googleAssistantCompatible": false, - "welcomeIntentSignInRequired": false, - "startIntents": [], - "systemIntents": [], - "endIntentIds": [], - "oAuthLinking": { - "required": false, - "grantType": "AUTH_CODE_GRANT" - }, - "voiceType": "MALE_1", - "capabilities": [], - "protocolVersion": "V1", - "isDeviceAgent": false - }, - "defaultTimezone": "America/New_York", - "webhook": { - "available": false, - "useForDomains": false, - "cloudFunctionsEnabled": false, - "cloudFunctionsInitialized": false - }, - "isPrivate": false, - "customClassifierMode": "use.instead", - "mlMinConfidence": 0.3, - "supportedLanguages": [], - "onePlatformApiVersion": "v1legacy" -} \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/music-album.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/music-album.json deleted file mode 100644 index 105dbc20..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/music-album.json +++ /dev/null @@ -1,7 +0,0 @@ -{ - "id": "6fddba52-6c51-42b2-bd35-70c6cce204f5", - "name": "music-album", - "isOverridable": true, - "isEnum": false, - "automatedExpansion": true -} \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/music-album_entries_en.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/music-album_entries_en.json deleted file mode 100644 index 6ce5878d..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/music-album_entries_en.json +++ /dev/null @@ -1,737 +0,0 @@ -[ - { - "value": "Achtung Baby", - "synonyms": [ - "Achtung Baby" - ] - }, - { - "value": "At Folsom Prison", - "synonyms": [ - "At Folsom Prison" - ] - }, - { - "value": "Brain", - "synonyms": [ - "Brain" - ] - }, - { - "value": "Exodus", - "synonyms": [ - "Exodus" - ] - }, - { - "value": "Marquee Moon", - "synonyms": [ - "Marquee Moon" - ] - }, - { - "value": "Pet Sounds", - "synonyms": [ - "Pet Sounds" - ] - }, - { - "value": "Revolver", - "synonyms": [ - "Revolver" - ] - }, - { - "value": "Stand!", - "synonyms": [ - "Stand!" - ] - }, - { - "value": "Thriller", - "synonyms": [ - "Thriller" - ] - }, - { - "value": "Tommy", - "synonyms": [ - "Tommy" - ] - }, - { - "value": "Burst Apart", - "synonyms": [ - "Burst Apart" - ] - }, - { - "value": "Closing Time", - "synonyms": [ - "Closing Time" - ] - }, - { - "value": "Electric Ladyland", - "synonyms": [ - "Electric Ladyland" - ] - }, - { - "value": "Innervisions", - "synonyms": [ - "Innervisions" - ] - }, - { - "value": "Love", - "synonyms": [ - "love" - ] - }, - { - "value": "Power, Corruption \u0026 Lies", - "synonyms": [ - "Power, Corruption \u0026 Lies", - "Power Corruption Lies", - "corruption and lies" - ] - }, - { - "value": "Quadrophenia", - "synonyms": [ - "Quadrophenia" - ] - }, - { - "value": "Songs in the Key of Life", - "synonyms": [ - "Songs in the Key of Life" - ] - }, - { - "value": "The Wall", - "synonyms": [ - "The Wall" - ] - }, - { - "value": "American Beauty", - "synonyms": [ - "American Beauty" - ] - }, - { - "value": "Blue", - "synonyms": [ - "Blue" - ] - }, - { - "value": "Born to Run", - "synonyms": [ - "Born to Run" - ] - }, - { - "value": "Bringing It All Back Home", - "synonyms": [ - "Bringing It All Back Home" - ] - }, - { - "value": "Daydream Nation", - "synonyms": [ - "Daydream Nation" - ] - }, - { - "value": "Divorcio", - "synonyms": [ - "Divorcio" - ] - }, - { - "value": "Let It Be", - "synonyms": [ - "Let It Be" - ] - }, - { - "value": "\u0027Live\u0027 at The Apollo", - "synonyms": [ - "Live at The Apollo" - ] - }, - { - "value": "Magical Mystery Tour", - "synonyms": [ - "Magical Mystery Tour" - ] - }, - { - "value": "Paul\u0027s Boutique", - "synonyms": [ - "Paul s Boutique, Pauls Boutique" - ] - }, - { - "value": "Sgt. Pepper\u0027s Lonely Hearts Club Band", - "synonyms": [ - "Sgt Pepper s Lonely Hearts Club Band, Sgt Peppers Lonely Hearts Club Band" - ] - }, - { - "value": "Songs about Jane", - "synonyms": [ - "Songs about Jane" - ] - }, - { - "value": "The Velvet Underground and Nico", - "synonyms": [ - "The Velvet Underground and Nico" - ] - }, - { - "value": "Un Monde Meilleur", - "synonyms": [ - "Un Monde Meilleur" - ] - }, - { - "value": "Appetite for Destruction", - "synonyms": [ - "Appetite for Destruction" - ] - }, - { - "value": "Goodbye Yellow Brick Road", - "synonyms": [ - "Goodbye Yellow Brick Road" - ] - }, - { - "value": "Highway Revisited", - "synonyms": [ - "Highway Revisited" - ] - }, - { - "value": "Kind of Blue", - "synonyms": [ - "Kind of Blue" - ] - }, - { - "value": "Layla and Other Assorted Love Songs", - "synonyms": [ - "Layla and Other Assorted Love Songs" - ] - }, - { - "value": "Led Zeppelin II", - "synonyms": [ - "Led Zeppelin II" - ] - }, - { - "value": "Led Zeppelin II", - "synonyms": [ - "Led Zeppelin too, Led Zeppelin second, Led Zeppelin two, Led Zeppelin 2, Led Zeppelin II" - ] - }, - { - "value": "The Clash", - "synonyms": [ - "The Clash" - ] - }, - { - "value": "The Rise and Fall of Ziggy Stardust and the Spiders From Mars", - "synonyms": [ - "The Rise and Fall of Ziggy Stardust and the Spiders From Mars" - ] - }, - { - "value": "White", - "synonyms": [ - "White" - ] - }, - { - "value": "Who\u0027s Next", - "synonyms": [ - "Who s Next, Whos Next" - ] - }, - { - "value": "After the Gold Rush", - "synonyms": [ - "After the Gold Rush" - ] - }, - { - "value": "Beggars Banquet", - "synonyms": [ - "Beggars Banquet" - ] - }, - { - "value": "My Aim Is True", - "synonyms": [ - "My Aim Is True" - ] - }, - { - "value": "Straight Outta Compton", - "synonyms": [ - "Straight Outta Compton" - ] - }, - { - "value": "Summer", - "synonyms": [ - "Summer" - ] - }, - { - "value": "The Joshua Tree", - "synonyms": [ - "The Joshua Tree" - ] - }, - { - "value": "The Marshall Mathers LP", - "synonyms": [ - "The Marshall Mathers LP", - "The Marshall Mathers" - ] - }, - { - "value": "The Sun Sessions", - "synonyms": [ - "The Sun Sessions" - ] - }, - { - "value": "Some Girls", - "synonyms": [ - "Some Girls" - ] - }, - { - "value": "A Love Supreme", - "synonyms": [ - "A Love Supreme" - ] - }, - { - "value": "Automatic for the People", - "synonyms": [ - "Automatic for the People" - ] - }, - { - "value": "Moondance", - "synonyms": [ - "Moondance" - ] - }, - { - "value": "Nevermind", - "synonyms": [ - "Nevermind" - ] - }, - { - "value": "Raising Hell", - "synonyms": [ - "Raising Hell" - ] - }, - { - "value": "Tapestry", - "synonyms": [ - "Tapestry" - ] - }, - { - "value": "Forever Changes", - "synonyms": [ - "Forever Changes" - ] - }, - { - "value": "In the Court of the Crimson King", - "synonyms": [ - "In the Court of the Crimson King" - ] - }, - { - "value": "Let It Bleed", - "synonyms": [ - "Let It Bleed" - ] - }, - { - "value": "Never Mind the Bollocks Here\u0027s the Sex Pistols", - "synonyms": [ - "Never Mind the Bollocks Heres the Sex Pistols, Never Mind the Bollocks Here s the Sex Pistols" - ] - }, - { - "value": "Winter", - "synonyms": [ - "Winter" - ] - }, - { - "value": "Wish You Were Here", - "synonyms": [ - "Wish You Were Here" - ] - }, - { - "value": "19", - "synonyms": [ - "19" - ] - }, - { - "value": "Abraxas", - "synonyms": [ - "Abraxas" - ] - }, - { - "value": "Are You Experienced", - "synonyms": [ - "Are You Experienced" - ] - }, - { - "value": "Astral Weeks", - "synonyms": [ - "Astral Weeks" - ] - }, - { - "value": "Blonde on Blonde", - "synonyms": [ - "Blonde on Blonde" - ] - }, - { - "value": "Giant Steps", - "synonyms": [ - "Giant Steps" - ] - }, - { - "value": "It Takes a Nation of Millions to Hold Us Back", - "synonyms": [ - "It Takes a Nation of Millions to Hold Us Back" - ] - }, - { - "value": "Modern Sounds in Country and Western Music", - "synonyms": [ - "Modern Sounds in Country and Western Music" - ] - }, - { - "value": "The Bends", - "synonyms": [ - "The Bends" - ] - }, - { - "value": "Abbey Road", - "synonyms": [ - "Abbey Road" - ] - }, - { - "value": "Call Me", - "synonyms": [ - "Call Me" - ] - }, - { - "value": "Disraeli Gears", - "synonyms": [ - "Disraeli Gears" - ] - }, - { - "value": "Grace", - "synonyms": [ - "Grace" - ] - }, - { - "value": "Please Please Me", - "synonyms": [ - "Please Please Me" - ] - }, - { - "value": "Rumours", - "synonyms": [ - "Rumours" - ] - }, - { - "value": "Synchronicity", - "synonyms": [ - "Synchronicity" - ] - }, - { - "value": "Bridge Over Troubled Water", - "synonyms": [ - "Bridge Over Troubled Water" - ] - }, - { - "value": "Exile on Main St.", - "synonyms": [ - "Exile on Main St" - ] - }, - { - "value": "John Lennon / Plastic Ono Band", - "synonyms": [ - "John Lennon / Plastic Ono Band" - ] - }, - { - "value": "Music From Big Pink", - "synonyms": [ - "Music From Big Pink" - ] - }, - { - "value": "Rocks", - "synonyms": [ - "Rocks" - ] - }, - { - "value": "Back in Black", - "synonyms": [ - "Back in Black" - ] - }, - { - "value": "Biagio", - "synonyms": [ - "Biagio" - ] - }, - { - "value": "Blood on the Tracks", - "synonyms": [ - "Blood on the Tracks" - ] - }, - { - "value": "Hotel California", - "synonyms": [ - "Hotel California" - ] - }, - { - "value": "Hunky Dory", - "synonyms": [ - "Hunky Dory" - ] - }, - { - "value": "Ten", - "synonyms": [ - "Ten" - ] - }, - { - "value": "The Doors", - "synonyms": [ - "The Doors" - ] - }, - { - "value": "Californication", - "synonyms": [ - "Californication" - ] - }, - { - "value": "OK Computer", - "synonyms": [ - "OK Computer" - ] - }, - { - "value": "What\u0027s Going On", - "synonyms": [ - "Whats Going On, What s Going On" - ] - }, - { - "value": "Green River", - "synonyms": [ - "Green River" - ] - }, - { - "value": "Led Zeppelin", - "synonyms": [ - "Led Zeppelin" - ] - }, - { - "value": "Remain in Light", - "synonyms": [ - "Remain in Light" - ] - }, - { - "value": "Rubber Soul", - "synonyms": [ - "Rubber Soul" - ] - }, - { - "value": "The Dark Side of the Moon", - "synonyms": [ - "The Dark Side of the Moon" - ] - }, - { - "value": "Born in the U.S.A.", - "synonyms": [ - "Born in the USA, Born in the U S A" - ] - }, - { - "value": "Celebration", - "synonyms": [ - "Celebration" - ] - }, - { - "value": "Harvest", - "synonyms": [ - "Harvest" - ] - }, - { - "value": "London Calling", - "synonyms": [ - "London Calling" - ] - }, - { - "value": "Purple Rain", - "synonyms": [ - "Purple Rain" - ] - }, - { - "value": "Sign the Times", - "synonyms": [ - "Sign the Times" - ] - }, - { - "value": "White Album", - "synonyms": [ - "The Beatles White Album, White, White Album" - ] - }, - { - "value": "Graceland", - "synonyms": [ - "Graceland" - ] - }, - { - "value": "Horses", - "synonyms": [ - "Horses" - ] - }, - { - "value": "In Utero", - "synonyms": [ - "In Utero" - ] - }, - { - "value": "Paid In Full", - "synonyms": [ - "Paid In Full" - ] - }, - { - "value": "At Fillmore East", - "synonyms": [ - "At Fillmore East" - ] - }, - { - "value": "Axis Bold as Love", - "synonyms": [ - "Axis Bold as Love" - ] - }, - { - "value": "Déjà vu", - "synonyms": [ - "Déjà vu" - ] - }, - { - "value": "Doolittle", - "synonyms": [ - "Doolittle" - ] - }, - { - "value": "Eat a Peach", - "synonyms": [ - "Eat a Peach" - ] - }, - { - "value": "I Never Loved a Man the Way I Love You", - "synonyms": [ - "I Never Loved a Man the Way I Love You" - ] - }, - { - "value": "Love", - "synonyms": [ - "Love" - ] - }, - { - "value": "Physical Graffiti", - "synonyms": [ - "Physical Graffiti" - ] - }, - { - "value": "Sticky Fingers", - "synonyms": [ - "Sticky Fingers" - ] - }, - { - "value": "Surrealistic Pillow", - "synonyms": [ - "Surrealistic Pillow" - ] - } -] \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/music-service.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/music-service.json deleted file mode 100644 index 9602232e..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/music-service.json +++ /dev/null @@ -1,7 +0,0 @@ -{ - "id": "9fdfa4b7-5aae-4209-8790-8989b4ede389", - "name": "music-service", - "isOverridable": true, - "isEnum": false, - "automatedExpansion": false -} \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/music-service_entries_en.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/music-service_entries_en.json deleted file mode 100644 index 3e7240c5..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/music-service_entries_en.json +++ /dev/null @@ -1,107 +0,0 @@ -[ - { - "value": "Vimeo", - "synonyms": [ - "vimeo" - ] - }, - { - "value": "iTunes", - "synonyms": [ - "iTunes" - ] - }, - { - "value": "SXM", - "synonyms": [ - "SXM", - " Sirius XM" - ] - }, - { - "value": "Prime Music", - "synonyms": [ - "Prime Music" - ] - }, - { - "value": "Spotify", - "synonyms": [ - "Spotify" - ] - }, - { - "value": "Apple Music", - "synonyms": [ - "Apple Music" - ] - }, - { - "value": "Slacker", - "synonyms": [ - "slaker", - " slacker" - ] - }, - { - "value": "Last fm", - "synonyms": [ - "lastfm", - " last fm", - " Last Fm" - ] - }, - { - "value": "Zvooq", - "synonyms": [ - "Zvooq" - ] - }, - { - "value": "Iheart", - "synonyms": [ - "iheart radio", - " iHeartRadio", - " iheart" - ] - }, - { - "value": "Prime Music", - "synonyms": [ - "Prime", - " Prime Music" - ] - }, - { - "value": "Netflix", - "synonyms": [ - "Netflix" - ] - }, - { - "value": "Deezer", - "synonyms": [ - "Deezer" - ] - }, - { - "value": "Pandora", - "synonyms": [ - "pandora" - ] - }, - { - "value": "Google Music", - "synonyms": [ - "Google Music", - "google musik" - ] - }, - { - "value": "Youtube", - "synonyms": [ - "youtube", - "you tube" - ] - } -] \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/music-sort.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/music-sort.json deleted file mode 100644 index 65096ded..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/music-sort.json +++ /dev/null @@ -1,7 +0,0 @@ -{ - "id": "ba4644ef-abb8-42f6-9302-249fd3e38d03", - "name": "music-sort", - "isOverridable": true, - "isEnum": false, - "automatedExpansion": false -} \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/music-sort_entries_en.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/music-sort_entries_en.json deleted file mode 100644 index 6a604d15..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/music-sort_entries_en.json +++ /dev/null @@ -1,28 +0,0 @@ -[ - { - "value": "top", - "synonyms": [ - "top", - "popular", - "most popular" - ] - }, - { - "value": "latest", - "synonyms": [ - "latest", - "last", - "new", - "newest" - ] - }, - { - "value": "best", - "synonyms": [ - "best", - "good", - "greatest", - "the greatest" - ] - } -] \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/playlist.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/playlist.json deleted file mode 100644 index 0c6208a7..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/playlist.json +++ /dev/null @@ -1,7 +0,0 @@ -{ - "id": "0ecc10fe-a743-4182-a6c9-0ed8cc2590c3", - "name": "playlist", - "isOverridable": true, - "isEnum": false, - "automatedExpansion": true -} \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/playlist_entries_en.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/playlist_entries_en.json deleted file mode 100644 index 77176f8c..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/playlist_entries_en.json +++ /dev/null @@ -1,265 +0,0 @@ -[ - { - "value": "rock", - "synonyms": [ - "rock" - ] - }, - { - "value": "travel", - "synonyms": [ - "traveling", - "travel", - "travelling" - ] - }, - { - "value": "my faves", - "synonyms": [ - "my faves" - ] - }, - { - "value": "chill", - "synonyms": [ - "chill", - "chilling" - ] - }, - { - "value": "kids", - "synonyms": [ - "kids" - ] - }, - { - "value": "quality", - "synonyms": [ - "quality" - ] - }, - { - "value": "summer", - "synonyms": [ - "summer" - ] - }, - { - "value": "today\u0027s top hits", - "synonyms": [ - "today\u0027s top hits" - ] - }, - { - "value": "breakfast", - "synonyms": [ - "breakfast" - ] - }, - { - "value": "mood", - "synonyms": [ - "mood" - ] - }, - { - "value": "gym", - "synonyms": [ - "gym" - ] - }, - { - "value": "dinner", - "synonyms": [ - "dinner party", - "dinner party", - "dinner" - ] - }, - { - "value": "study", - "synonyms": [ - "study" - ] - }, - { - "value": "relaxing", - "synonyms": [ - "relaxing" - ] - }, - { - "value": "trending", - "synonyms": [ - "trending" - ] - }, - { - "value": "calm", - "synonyms": [ - "calm" - ] - }, - { - "value": "cool", - "synonyms": [ - "cool" - ] - }, - { - "value": "focus", - "synonyms": [ - "focus", - "focusing" - ] - }, - { - "value": "party", - "synonyms": [ - "party" - ] - }, - { - "value": "late night", - "synonyms": [ - "late night" - ] - }, - { - "value": "recently added", - "synonyms": [ - "recently added" - ] - }, - { - "value": "winter", - "synonyms": [ - "winter" - ] - }, - { - "value": "comedy", - "synonyms": [ - "comedy" - ] - }, - { - "value": "meditative", - "synonyms": [ - "meditative" - ] - }, - { - "value": "roxette", - "synonyms": [ - "roxette" - ] - }, - { - "value": "sleep", - "synonyms": [ - "sleep" - ] - }, - { - "value": "workout", - "synonyms": [ - "workout", - "working out", - "workingout", - "work out" - ] - }, - { - "value": "favourite", - "synonyms": [ - "favourite" - ] - }, - { - "value": "favorite", - "synonyms": [ - "favorite", - "favorites", - "faves", - "fave", - "fav" - ] - }, - { - "value": "jazz", - "synonyms": [ - "jazz" - ] - }, - { - "value": "running", - "synonyms": [ - "running", - "run" - ] - }, - { - "value": "viral hits", - "synonyms": [ - "viral hits" - ] - }, - { - "value": "energy", - "synonyms": [ - "energetic", - "energy" - ] - }, - { - "value": "fitness", - "synonyms": [ - "fitness", - "for fitness" - ] - }, - { - "value": "love", - "synonyms": [ - "love" - ] - }, - { - "value": "work", - "synonyms": [ - "work" - ] - }, - { - "value": "romance", - "synonyms": [ - "romance", - "romancing", - "romantic", - "for date", - "for a date", - "for romantic date", - "for a romantic date" - ] - }, - { - "value": "uplifting", - "synonyms": [ - "uplifting", - "100 most uplifting songs ever" - ] - }, - { - "value": "50 great beatles songs", - "synonyms": [ - "50 great beatles songs" - ] - }, - { - "value": "lunch", - "synonyms": [ - "lunch" - ] - } -] \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/song.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/song.json deleted file mode 100644 index c5e66c6d..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/song.json +++ /dev/null @@ -1,7 +0,0 @@ -{ - "id": "01c1df34-ecad-4ab0-bc4a-62e1d43a27d8", - "name": "song", - "isOverridable": true, - "isEnum": false, - "automatedExpansion": true -} \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/song_entries_en.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/song_entries_en.json deleted file mode 100644 index 14dcc09b..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/entities/song_entries_en.json +++ /dev/null @@ -1,608 +0,0 @@ -[ - { - "value": "Castle On The Hill", - "synonyms": [ - "Castle On The Hill" - ] - }, - { - "value": "Sound Of Silence", - "synonyms": [ - "Sound Of Silence" - ] - }, - { - "value": "Photograph", - "synonyms": [ - "Photograph" - ] - }, - { - "value": "Creep", - "synonyms": [ - "Creep" - ] - }, - { - "value": "Hurt", - "synonyms": [ - "Hurt" - ] - }, - { - "value": "Love Yourself", - "synonyms": [ - "Love Yourself" - ] - }, - { - "value": "Wish You Were Here", - "synonyms": [ - "Wish You Were Here" - ] - }, - { - "value": "Million Reasons", - "synonyms": [ - "Million Reasons" - ] - }, - { - "value": "When We Were Young", - "synonyms": [ - "When We Were Young" - ] - }, - { - "value": "Versace On The Floor", - "synonyms": [ - "Versace On The Floor" - ] - }, - { - "value": "Shape Of You", - "synonyms": [ - "Shape Of You" - ] - }, - { - "value": "Nothing Else Matters", - "synonyms": [ - "Nothing Else Matters" - ] - }, - { - "value": "Let Her Go", - "synonyms": [ - "Let Her Go" - ] - }, - { - "value": "Riptide", - "synonyms": [ - "Riptide" - ] - }, - { - "value": "Say You Wont Let Go", - "synonyms": [ - "Say You Wont Let Go" - ] - }, - { - "value": "Cant Help Falling In Love With You", - "synonyms": [ - "Cant Help Falling In Love With You" - ] - }, - { - "value": "Im Yours", - "synonyms": [ - "Im Yours" - ] - }, - { - "value": "The Scientist Acoustic", - "synonyms": [ - "The Scientist Acoustic" - ] - }, - { - "value": "Shape Of You", - "synonyms": [ - "Shape Of You" - ] - }, - { - "value": "A Thousand Years", - "synonyms": [ - "A Thousand Years" - ] - }, - { - "value": "La La Land - Audition The Fools Who Dream", - "synonyms": [ - "La La Land - Audition The Fools Who Dream" - ] - }, - { - "value": "Hey There Delilah", - "synonyms": [ - "Hey There Delilah" - ] - }, - { - "value": "City Of Stars Acoustic", - "synonyms": [ - "City Of Stars Acoustic" - ] - }, - { - "value": "Closer", - "synonyms": [ - "Closer" - ] - }, - { - "value": "Treat You Better", - "synonyms": [ - "Treat You Better" - ] - }, - { - "value": "Let It Be", - "synonyms": [ - "Let It Be" - ] - }, - { - "value": "Rockabye", - "synonyms": [ - "Rockabye" - ] - }, - { - "value": "Shape Of You", - "synonyms": [ - "Shape Of You" - ] - }, - { - "value": "City Of Stars", - "synonyms": [ - "City Of Stars" - ] - }, - { - "value": "All Of Me", - "synonyms": [ - "All Of Me" - ] - }, - { - "value": "How Far Ill Go", - "synonyms": [ - "How Far Ill Go" - ] - }, - { - "value": "All I Ask", - "synonyms": [ - "All I Ask" - ] - }, - { - "value": "More Than Words", - "synonyms": [ - "More Than Words" - ] - }, - { - "value": "Surat Cinta Untuk Starla", - "synonyms": [ - "Surat Cinta Untuk Starla" - ] - }, - { - "value": "City Of Stars", - "synonyms": [ - "City Of Stars" - ] - }, - { - "value": "Something Just Like This", - "synonyms": [ - "Something Just Like This" - ] - }, - { - "value": "Mercy", - "synonyms": [ - "Mercy" - ] - }, - { - "value": "Versace On The Floor", - "synonyms": [ - "Versace On The Floor" - ] - }, - { - "value": "Someone Like You", - "synonyms": [ - "Someone Like You" - ] - }, - { - "value": "Human", - "synonyms": [ - "Human" - ] - }, - { - "value": "Thinking Out Loud", - "synonyms": [ - "Thinking Out Loud" - ] - }, - { - "value": "When I Was Your Man", - "synonyms": [ - "When I Was Your Man" - ] - }, - { - "value": "Versace On The Floor", - "synonyms": [ - "Versace On The Floor" - ] - }, - { - "value": "House Of The Rising Sun", - "synonyms": [ - "House Of The Rising Sun" - ] - }, - { - "value": "Stairway To Heaven", - "synonyms": [ - "Stairway To Heaven" - ] - }, - { - "value": "Wonderwall", - "synonyms": [ - "Wonderwall" - ] - }, - { - "value": "How Would You Feel", - "synonyms": [ - "How Would You Feel" - ] - }, - { - "value": "I Dont Wanna Live Forever", - "synonyms": [ - "I Dont Wanna Live Forever" - ] - }, - { - "value": "Stay With Me", - "synonyms": [ - "Stay With Me" - ] - }, - { - "value": "This Town", - "synonyms": [ - "This Town" - ] - }, - { - "value": "Hallelujah", - "synonyms": [ - "Hallelujah" - ] - }, - { - "value": "7 Years", - "synonyms": [ - "7 Years" - ] - }, - { - "value": "City Of Stars", - "synonyms": [ - "City Of Stars" - ] - }, - { - "value": "Hotel California", - "synonyms": [ - "Hotel California" - ] - }, - { - "value": "I See Fire", - "synonyms": [ - "I See Fire" - ] - }, - { - "value": "Dancing On My Own", - "synonyms": [ - "Dancing On My Own" - ] - }, - { - "value": "Fix You Acoustic", - "synonyms": [ - "Fix You Acoustic" - ] - }, - { - "value": "The A Team", - "synonyms": [ - "The A Team" - ] - }, - { - "value": "Wonderwall", - "synonyms": [ - "Wonderwall" - ] - }, - { - "value": "Skinny Love", - "synonyms": [ - "Skinny Love" - ] - }, - { - "value": "Yellow Acoustic", - "synonyms": [ - "Yellow Acoustic" - ] - }, - { - "value": "Hallelujah", - "synonyms": [ - "Hallelujah" - ] - }, - { - "value": "Let It Go", - "synonyms": [ - "Let It Go" - ] - }, - { - "value": "All I Want", - "synonyms": [ - "All I Want" - ] - }, - { - "value": "Say Something", - "synonyms": [ - "Say Something" - ] - }, - { - "value": "Radioactive", - "synonyms": [ - "Radioactive" - ] - }, - { - "value": "Shape Of You", - "synonyms": [ - "Shape Of You" - ] - }, - { - "value": "Redemption Song", - "synonyms": [ - "Redemption Song" - ] - }, - { - "value": "Sweet Child O Mine", - "synonyms": [ - "Sweet Child O Mine" - ] - }, - { - "value": "Chasing Cars", - "synonyms": [ - "Chasing Cars" - ] - }, - { - "value": "Boulevard Of Broken Dreams Acoustic", - "synonyms": [ - "Boulevard Of Broken Dreams Acoustic" - ] - }, - { - "value": "Hey Jude", - "synonyms": [ - "Hey Jude" - ] - }, - { - "value": "Closer", - "synonyms": [ - "Closer" - ] - }, - { - "value": "Youve Got A Friend In Me", - "synonyms": [ - "Youve Got A Friend In Me" - ] - }, - { - "value": "Halo", - "synonyms": [ - "Halo" - ] - }, - { - "value": "Heathens", - "synonyms": [ - "Heathens" - ] - }, - { - "value": "Counting Stars", - "synonyms": [ - "Counting Stars" - ] - }, - { - "value": "Wish You Were Here", - "synonyms": [ - "Wish You Were Here" - ] - }, - { - "value": "Im Not The Only One", - "synonyms": [ - "Im Not The Only One" - ] - }, - { - "value": "I Wont Give Up", - "synonyms": [ - "I Wont Give Up" - ] - }, - { - "value": "Stitches", - "synonyms": [ - "Stitches" - ] - }, - { - "value": "Sweater Weather", - "synonyms": [ - "Sweater Weather" - ] - }, - { - "value": "Good Riddance Time Of Your Life", - "synonyms": [ - "Good Riddance Time Of Your Life" - ] - }, - { - "value": "Love On The Brain", - "synonyms": [ - "Love On The Brain" - ] - }, - { - "value": "Blackbird", - "synonyms": [ - "Blackbird" - ] - }, - { - "value": "We Dont Talk Anymore", - "synonyms": [ - "We Dont Talk Anymore" - ] - }, - { - "value": "Hey Soul Sister", - "synonyms": [ - "Hey Soul Sister" - ] - }, - { - "value": "Faded", - "synonyms": [ - "Faded" - ] - }, - { - "value": "Under The Bridge", - "synonyms": [ - "Under The Bridge" - ] - }, - { - "value": "Imagine", - "synonyms": [ - "Imagine" - ] - }, - { - "value": "Dont Look Back In Anger", - "synonyms": [ - "Dont Look Back In Anger" - ] - }, - { - "value": "Iris", - "synonyms": [ - "Iris" - ] - }, - { - "value": "Love", - "synonyms": [ - "Love" - ] - }, - { - "value": "One Call Away", - "synonyms": [ - "One Call Away" - ] - }, - { - "value": "Hello", - "synonyms": [ - "Hello" - ] - }, - { - "value": "Somewhere Over The Rainbow", - "synonyms": [ - "Somewhere Over The Rainbow" - ] - }, - { - "value": "Starving", - "synonyms": [ - "Starving" - ] - }, - { - "value": "Jolene", - "synonyms": [ - "Jolene" - ] - }, - { - "value": "Castle On The Hill", - "synonyms": [ - "Castle On The Hill" - ] - }, - { - "value": "Lost Boy Acoustic", - "synonyms": [ - "Lost Boy Acoustic" - ] - }, - { - "value": "Make You Feel My Love", - "synonyms": [ - "Make You Feel My Love" - ] - } -] \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music.play.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music.play.json deleted file mode 100644 index 401de69a..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music.play.json +++ /dev/null @@ -1,97 +0,0 @@ -{ - "id": "ad118f22-6185-4566-8b22-7a6067fb42e2", - "name": "music.play", - "auto": true, - "contexts": [], - "responses": [ - { - "resetContexts": false, - "action": "music.play", - "affectedContexts": [ - { - "name": "play-music", - "parameters": {}, - "lifespan": 5 - }, - { - "name": "music-player-control", - "parameters": {}, - "lifespan": 3 - } - ], - "parameters": [ - { - "id": "4e5778f6-53b2-4b74-b369-0c3fd482bd75", - "required": false, - "dataType": "@song", - "name": "song", - "value": "$song", - "isList": false - }, - { - "id": "c6de8e2e-b285-40bd-9dcb-ba3d03956f80", - "required": false, - "dataType": "@sys.music-artist", - "name": "artist", - "value": "$artist", - "isList": true - }, - { - "id": "a6a18c6f-ad5a-45d2-9570-666d96de9e51", - "required": false, - "dataType": "@music-album", - "name": "album", - "value": "$album", - "isList": false - }, - { - "id": "baf8e37e-ec14-4cd0-a34a-2d2d1c9dbd48", - "required": false, - "dataType": "@sys.music-genre", - "name": "genre", - "value": "$genre", - "isList": false - }, - { - "id": "e4a8c145-ec0b-414a-afb2-90278fbea7fe", - "required": false, - "dataType": "@playlist", - "name": "playlist", - "value": "$playlist", - "isList": false - }, - { - "id": "5bf2245f-2281-44e0-85b3-b2e024731155", - "required": false, - "dataType": "@music-service", - "name": "service", - "value": "$service", - "isList": false - }, - { - "id": "c5480361-27a4-4f2b-be86-e4c6bda25306", - "required": false, - "dataType": "@music-sort", - "name": "sort", - "value": "$sort", - "isList": false - } - ], - "messages": [ - { - "type": 0, - "lang": "en", - "speech": [] - } - ], - "defaultResponsePlatforms": {}, - "speech": [] - } - ], - "priority": 500000, - "webhookUsed": false, - "webhookForSlotFilling": false, - "lastUpdate": 1497017425, - "fallbackIntent": false, - "events": [] -} \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music.play_usersays_en.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music.play_usersays_en.json deleted file mode 100644 index a73a687e..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music.play_usersays_en.json +++ /dev/null @@ -1,6121 +0,0 @@ -[ - { - "id": "4140af75-12d8-4f32-80f0-e864ff58447f", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Madonna", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": "\u0027s ", - "userDefined": false - }, - { - "text": "Like a Virgin", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 36, - "updated": 0 - }, - { - "id": "c232eb6e-963a-4482-b9ed-f0343b331cfc", - "data": [ - { - "text": "can", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "you", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " play ", - "userDefined": false - }, - { - "text": "country", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - }, - { - "text": " music", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "9f1bc06d-87b0-43d0-a24a-4f3c9bfb9b09", - "data": [ - { - "text": "play some ", - "userDefined": false - }, - { - "text": "romantic", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - }, - { - "text": " songs", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "d35ef9fd-4b6e-4b0e-b29a-bc398f21a06c", - "data": [ - { - "text": "playing ", - "userDefined": false - }, - { - "text": "Mozart", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "3c34962c-5094-4cdb-a0ae-aa2598941632", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Red Hot Chili Peppers", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 1, - "updated": 0 - }, - { - "id": "12bae030-caee-4793-9dde-116190c5ea29", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Led Zeppelin two", - "alias": "album", - "meta": "@music-album", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "df476926-5b0b-4d0a-9189-1df7ddccb10d", - "data": [ - { - "text": "I want to listen to the song ", - "userDefined": false - }, - { - "text": "New York", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "1eaa1073-9a2b-4379-9a20-bf8238896a6f", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Hard Times", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "David Newman", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "c2d8041c-bbd0-4e37-8bfd-ae981e08026f", - "data": [ - { - "text": "let\u0027s listen to ", - "userDefined": false - }, - { - "text": "Come together", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Beatles", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "2bbf6334-1242-44c8-b380-a2eb6406546e", - "data": [ - { - "text": "play the song ", - "userDefined": false - }, - { - "text": "Love Me Like You Do", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "962b0574-5e8d-42e9-9b0d-2c742b1651e9", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Beyonce", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "6458ef3d-c044-4162-87f3-194a93615cd0", - "data": [ - { - "text": "play the song ", - "userDefined": false - }, - { - "text": "Gorilla", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "9d129655-8307-434f-9c9a-1110d1547a2b", - "data": [ - { - "text": "play album ", - "userDefined": false - }, - { - "text": "Master of Puppets", - "alias": "album", - "meta": "@music-album", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "5140ab21-9f48-402c-8b95-11495aa6be3d", - "data": [ - { - "text": "play me some ", - "userDefined": false - }, - { - "text": "good", - "alias": "sort", - "meta": "@music-sort", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "bcf21f73-d1d5-4be1-ac55-fe4e9e0ce53f", - "data": [ - { - "text": "can I listen to ", - "userDefined": false - }, - { - "text": "Macarena", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "aeabcd3a-ee8b-4181-9a10-b33d830d2c28", - "data": [ - { - "text": "Can\u0027t Feel My Face", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "on", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "Google Music", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "f4f40ba6-40f7-4c8f-b963-90f7cff853c6", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Maroon 5", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " on ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "b5ded7a1-0b2c-4bf0-84cd-d4b2657da797", - "data": [ - { - "text": "play me some ", - "userDefined": false - }, - { - "text": "country", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "4053950b-b9a6-4a9f-ac30-100067ea5c57", - "data": [ - { - "text": "play some ", - "userDefined": false - }, - { - "text": "rock and roll", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a4878e41-bbdb-49c8-9137-26aef6fce868", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Foolin", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Changing Faces", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "b14e5674-de6f-4a41-b12f-7a885908ea8d", - "data": [ - { - "text": "play album ", - "userDefined": false - }, - { - "text": "Appetite for destruction", - "alias": "album", - "meta": "@music-album", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Guns n Roses", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "088ba699-d35c-4a00-b696-a065253ce0e0", - "data": [ - { - "text": "play a song ", - "userDefined": false - }, - { - "text": "Another Brick in the Wall", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "739e3f75-8a7f-467c-b05e-357bec187f91", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "She\u0027s Got the Look", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Roxette", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "32761126-bcd3-47dd-9b06-6206013dcb95", - "data": [ - { - "text": "start playing ", - "userDefined": false - }, - { - "text": "The Lost", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a17e0479-a85c-4194-ac6d-d34a14c31025", - "data": [ - { - "text": "play me some ", - "userDefined": false - }, - { - "text": "relaxing", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "3f6fa54f-dbf3-4ca7-990e-9caf154d9a01", - "data": [ - { - "text": "play song by ", - "userDefined": false - }, - { - "text": "Willie Nelson", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "021d9348-d13b-4980-af3f-304dfb926b01", - "data": [ - { - "text": "just play ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " for me", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a3b1d4ed-9645-4dae-a439-c6a0ef995ad4", - "data": [ - { - "text": "can you ", - "userDefined": false - }, - { - "text": "open", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "Careless Whisper", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "68f49695-9e23-4ea0-ab03-029bf1cff728", - "data": [ - { - "text": "play album ", - "userDefined": false - }, - { - "text": "After the Gold Rush", - "alias": "album", - "meta": "@music-album", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "32cbd88f-d48e-4238-bf2a-89d8f185b5a6", - "data": [ - { - "text": "I want ", - "userDefined": false - }, - { - "text": "to", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " listen to a song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "e1c422b1-3a4b-4578-b7cb-608ee937221d", - "data": [ - { - "text": "play genre ", - "userDefined": false - }, - { - "text": "RnB", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "1c9dad16-0e2b-4bf4-8a39-ae51f8fd122d", - "data": [ - { - "text": "I want ", - "userDefined": false - }, - { - "text": "to", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " hear ", - "userDefined": false - }, - { - "text": "a", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "4eca3c0b-f8d0-4767-99d9-2a7b8231f758", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "jazz", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - }, - { - "text": " on ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "ce401513-df30-4cd3-b694-e36cf03e3b0a", - "data": [ - { - "text": "play artist ", - "userDefined": false - }, - { - "text": "A great big world", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 37, - "updated": 0 - }, - { - "id": "e45a1b64-ac6b-40a6-967b-84fff5d89b2b", - "data": [ - { - "text": "rock", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - }, - { - "text": " compositions", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "ee3dfda5-6725-4c8d-ad65-d17a5c2378a2", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Vanessa Paradis", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "fd37b105-d39c-43bd-99e4-128935a42eed", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Sweet Dreams", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Eurythmics", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": false - } - ], - "isTemplate": false, - "count": 1, - "updated": 0 - }, - { - "id": "62e31c4d-c930-4cc7-9aa3-0997a403de1d", - "data": [ - { - "text": "play a ", - "userDefined": false - }, - { - "text": "pop", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "211843de-f8c3-4b24-b3d6-c0d8e92592a4", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Megan Trainer", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "5815f8cc-81a1-41ef-996d-214f1ca56186", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Faded", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "ZHU", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " song on ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "1ecd472e-b59e-4f4c-8077-a5a77df39280", - "data": [ - { - "text": "let me hear some ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Coldplay", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "7333da40-706d-4396-a76f-3630406fef97", - "data": [ - { - "text": "play song ", - "userDefined": false - }, - { - "text": "Killer Queen", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Queen", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "e288571f-f3f6-47cc-a8c8-960e29ed187f", - "data": [ - { - "text": "play the artist ", - "userDefined": false - }, - { - "text": "Rush", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "9e6371e2-1ba7-414b-9d03-c221a762f8e1", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "the", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " song ", - "userDefined": false - }, - { - "text": "Pots of gold", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "the", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " artist ", - "userDefined": false - }, - { - "text": "Mamas Gun", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a2df31d7-8338-46e0-8148-914c060e3789", - "data": [ - { - "text": "can you ", - "userDefined": false - }, - { - "text": "open", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "Shape of My Heart", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " in ", - "userDefined": false - }, - { - "text": "Google music", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "2930d107-d840-4791-a522-4246912e98b7", - "data": [ - { - "text": "play song from the album ", - "userDefined": false - }, - { - "text": "Address", - "alias": "album", - "meta": "@music-album", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "572599a1-7b95-44fa-bf68-abd7a42961d0", - "data": [ - { - "text": "play song ", - "userDefined": false - }, - { - "text": "Alive", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "ddbbda1f-37ad-47bd-aad9-107d13635d5e", - "data": [ - { - "text": "play", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "R\u0026B", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "0c813c89-38b3-43f6-ab66-fe31496aec88", - "data": [ - { - "text": "song ", - "userDefined": false - }, - { - "text": "pop", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "01c319ca-bf22-4642-b148-aebdde53759b", - "data": [ - { - "text": "play some ", - "userDefined": false - }, - { - "text": "rock", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 1, - "updated": 0 - }, - { - "id": "763ca6f4-8a07-44b8-9846-a2a306d6e9e4", - "data": [ - { - "text": "play album ", - "userDefined": false - }, - { - "text": "Ramones", - "alias": "album", - "meta": "@music-album", - "userDefined": true - }, - { - "text": " on ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "0baf8554-9a81-4771-a3dd-cde31073c10f", - "data": [ - { - "text": "Eminem", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "4f41227b-b191-44af-a542-e72a6247ac29", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Pearl Jam", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "1ce85c25-8301-458d-b3a9-31e4b64ba123", - "data": [ - { - "text": "please play song ", - "userDefined": false - }, - { - "text": "Lost in You", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "5ee387f0-cdb6-4e55-b818-c6ab67699ec0", - "data": [ - { - "text": "play album ", - "userDefined": false - }, - { - "text": "Power Corruption Lies", - "alias": "album", - "meta": "@music-album", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "21e0682f-f75f-45aa-873b-533b7021d935", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "End of the World", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "The living end", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "730d0b32-6b85-403e-883d-77d706e1e990", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Empty Sky", - "alias": "album", - "meta": "@music-album", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Elton John", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "7c0708bd-a6ee-4d0d-b682-48ffaeeb98c6", - "data": [ - { - "text": "play my ", - "userDefined": false - }, - { - "text": "workout", - "alias": "playlist", - "meta": "@playlist", - "userDefined": true - }, - { - "text": " playlist", - "userDefined": false - } - ], - "isTemplate": false, - "count": 1, - "updated": 0 - }, - { - "id": "8b12892d-9897-4974-977a-fcadd9dee7e6", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Guns N Roses", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "aa1768ad-7682-48cf-82b1-638d3ffa4935", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Laura Pausini", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "7e07261b-1fd5-45e9-b3a8-7194510cea73", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "greatest", - "alias": "sort", - "meta": "@music-sort", - "userDefined": true - }, - { - "text": " hits by ", - "userDefined": false - }, - { - "text": "Metallica", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "601b73f6-ffe9-4095-a207-a642cac506f2", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Hello", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 2, - "updated": 0 - }, - { - "id": "411a6482-db67-41b7-811a-f4c9a8f20cea", - "data": [ - { - "text": "play song ", - "userDefined": false - }, - { - "text": "Roxanne", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "fdba87b0-6b00-484b-9e59-457bc8fdd564", - "data": [ - { - "text": "play the ", - "userDefined": false - }, - { - "text": "50 Great Beatles Songs", - "alias": "playlist", - "meta": "@playlist", - "userDefined": true - }, - { - "text": " playlist in ", - "userDefined": false - }, - { - "text": "Prime Music", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "6247a818-cee3-4d49-ad2b-91f978387b8c", - "data": [ - { - "text": "start up the track ", - "userDefined": false - }, - { - "text": "Come Together", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "f14d89de-a723-4445-b524-12bb3317c185", - "data": [ - { - "text": "play album ", - "userDefined": false - }, - { - "text": "Born to Run", - "alias": "album", - "meta": "@music-album", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Bruce Springsteen", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " on ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "1f72e842-a388-49b2-b898-25e8ca55ea35", - "data": [ - { - "text": "country", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "5e935d5e-26d8-4a4f-9a25-afd636972459", - "data": [ - { - "text": "let me hear something from ", - "userDefined": false - }, - { - "text": "George Strait", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "aaf53aa3-3d48-4a9d-b45f-1cd7887ad4ab", - "data": [ - { - "text": "play album ", - "userDefined": false - }, - { - "text": "Fly by Night", - "alias": "album", - "meta": "@music-album", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Rush", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "5d952c84-c246-403e-9589-aebffb0d8ad9", - "data": [ - { - "text": "play album ", - "userDefined": false - }, - { - "text": "Graceland", - "alias": "album", - "meta": "@music-album", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Paul Simon", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "c50656a3-b142-4ef4-b21b-19a1764c488c", - "data": [ - { - "text": "play an album by ", - "userDefined": false - }, - { - "text": "Madonna", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "57f2758a-94b0-4766-b8ec-5cccb46196e8", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "It’s Now or Never", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "160aa92b-707c-4a13-9db2-f8f70bee3f2b", - "data": [ - { - "text": "Play ", - "userDefined": false - }, - { - "text": "Five Seconds of Summer", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "86af6b61-0464-4280-b3cf-ff5f10cf660b", - "data": [ - { - "text": "play some ", - "userDefined": false - }, - { - "text": "relaxing", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "8c70d5d1-ddfe-409b-bf42-e1c2986b34a2", - "data": [ - { - "text": "let\u0027s hear ", - "userDefined": false - }, - { - "text": "Wilco", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "d5bb88c7-503c-4d39-bbb3-ce4695238778", - "data": [ - { - "text": "I\u0027d like to listen to some ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "470eb328-d528-4f81-898d-769576d94472", - "data": [ - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " play ", - "userDefined": false - }, - { - "text": "Addicted to Love", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "e1473efe-4531-4381-b7bf-8052f3968cc3", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Home To Mama", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Justin Bieber", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " song on ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 1, - "updated": 0 - }, - { - "id": "56543c3c-873c-4cf7-b7f2-c666c70b8f46", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "best", - "alias": "sort", - "meta": "@music-sort", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "Metallica", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " songs", - "userDefined": false - } - ], - "isTemplate": false, - "count": 1, - "updated": 0 - }, - { - "id": "d948f02d-920e-42f8-a4a7-db301b32eb13", - "data": [ - { - "text": "play me some ", - "userDefined": false - }, - { - "text": "jazz", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "29618b5b-4fae-4437-9d33-a9ac5ac70bcc", - "data": [ - { - "text": "play some ", - "userDefined": false - }, - { - "text": "good", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "8746f5f4-6a28-4492-b744-e2e74d04b17a", - "data": [ - { - "text": "show ", - "userDefined": false - }, - { - "text": "best", - "alias": "sort", - "meta": "@music-sort", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "songs", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Rihanna", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "7d7b3a3d-7640-42fa-85cc-057aedf1e105", - "data": [ - { - "text": "turn ", - "userDefined": false - }, - { - "text": "on", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " a song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "4432a8e0-0ec6-4c6a-9942-9a21afd3308a", - "data": [ - { - "text": "play album ", - "userDefined": false - }, - { - "text": "Madonna", - "alias": "album", - "meta": "@music-album", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "eead6f02-d9e9-4185-9790-5354f86e113f", - "data": [ - { - "text": "play album ", - "userDefined": false - }, - { - "text": "Thriller", - "alias": "album", - "meta": "@music-album", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "806a8e42-2fe6-4af5-8fd6-3501f7835bf0", - "data": [ - { - "text": "play album ", - "userDefined": false - }, - { - "text": "London calling", - "alias": "album", - "meta": "@music-album", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "The Clash", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "6b329618-5b05-452c-9f27-85014ecfa49d", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Do I Wanna Know", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Arctic Monkeys", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " song on ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "d7240388-5999-4e9e-b209-a0c130c8fb2a", - "data": [ - { - "text": "I want to hear ", - "userDefined": false - }, - { - "text": "Owner of a Lonely Heart", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "f0f7001d-6da5-41ff-a1fc-acc96bd477ca", - "data": [ - { - "text": "play song by ", - "userDefined": false - }, - { - "text": "Lil Wayne", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "16928918-ef7e-4450-b307-b4b5eecf7268", - "data": [ - { - "text": "play song by ", - "userDefined": false - }, - { - "text": "Nicki Minaj", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "dbc75797-de41-49f9-ab3a-783b4a05de11", - "data": [ - { - "text": "play song ", - "userDefined": false - }, - { - "text": "She\u0027s Got the Look", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "5a094ad4-c7e2-43a6-b666-c223b3e005d9", - "data": [ - { - "text": "play the song ", - "userDefined": false - }, - { - "text": "Chasing the Dragon", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "081e8961-e441-49ef-8182-8c31af8036bf", - "data": [ - { - "text": "play song ", - "userDefined": false - }, - { - "text": "The Nights", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "1c095906-23c9-4f12-800c-9939ecd06090", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Ignition", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "R Kelly", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 11, - "updated": 0 - }, - { - "id": "7792e55d-0766-4504-9f0a-85436d6ab448", - "data": [ - { - "text": "play a song ", - "userDefined": false - }, - { - "text": "on", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "156bed9a-4461-4329-b540-392b34baf151", - "data": [ - { - "text": "I want you to play ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "8fdb8dce-0cab-4bea-97e6-ac27498228bf", - "data": [ - { - "text": "play song ", - "userDefined": false - }, - { - "text": "Poker Face", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Lady Gaga", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "d093ebaf-e4ae-4494-a110-9109cbbb1815", - "data": [ - { - "text": "can I listen to ", - "userDefined": false - }, - { - "text": "Gangsta\u0027s Paradise", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "6584fcba-250d-4cf3-98e8-a3b0d57bc368", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Animals", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Maroon 5", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "8ce7f1ca-9942-4074-b4ca-8be026f6c1a3", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "What Does the Fox Say", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "f4f60a85-1de1-4efb-b920-44289ad322fe", - "data": [ - { - "text": "play album ", - "userDefined": false - }, - { - "text": "Nevermind", - "alias": "album", - "meta": "@music-album", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Nirvana", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "93b181fc-7356-4531-94cd-26ab93b3f4b9", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Apparently", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "J Cole", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 1, - "updated": 0 - }, - { - "id": "5eb85606-88df-44ba-85f9-f0c6e0d8881d", - "data": [ - { - "text": "Bob Marley", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " play the song please", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a78bf904-8cca-4962-8530-e7698fc54152", - "data": [ - { - "text": "Bart Baker", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "1be9fdac-b9a5-46bb-9db3-0774741448d9", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Rihanna", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "Unfaithful", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " song for me", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "ee65a516-c38c-4932-8de2-4a0a4b9af9f9", - "data": [ - { - "text": "play album ", - "userDefined": false - }, - { - "text": "In the jungle groove", - "alias": "album", - "meta": "@music-album", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a50d9a57-b22e-43c7-929e-c10d6506e97e", - "data": [ - { - "text": "play album ", - "userDefined": false - }, - { - "text": "Sounds Good Field", - "alias": "album", - "meta": "@music-album", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Five Seconds of Summer", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "12c35c5c-775e-4ca1-a986-ff77a1c1a2b2", - "data": [ - { - "text": "reproduce a the track ", - "userDefined": false - }, - { - "text": "Monster", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Rihanna", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " ft ", - "userDefined": false - }, - { - "text": "Eminem", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 1, - "updated": 0 - }, - { - "id": "a7463bcd-e379-4883-9399-ec2bc26155d8", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Yesterday", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Beatles", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "ccbe210e-3d0a-47b6-9eec-f9811c37fae2", - "data": [ - { - "text": "play the song ", - "userDefined": false - }, - { - "text": "Back in time", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Pitbull", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "af1f7029-c9d0-4356-82bf-f7cb35f1741a", - "data": [ - { - "text": "play song by ", - "userDefined": false - }, - { - "text": "Shaggy", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "e5e81c1b-da7b-451f-a549-d5355f8d906d", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "I See Fire", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Ed Sheeran", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " song on ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "fcaa4dbe-d5ad-431b-ba69-067aaa946487", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Budapest", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "94e14c50-b195-4b7b-ace4-5d88fc112b4e", - "data": [ - { - "text": "play the song ", - "userDefined": false - }, - { - "text": "Nothing Gonna Stop Us Now", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "d425f27c-2b23-429c-a8f3-55e581c3a84a", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Blackbird", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "from SD card", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "9ec7086f-0cf0-427b-9356-f458fecdbc65", - "data": [ - { - "text": "play the album ", - "userDefined": false - }, - { - "text": "The Wall", - "alias": "album", - "meta": "@music-album", - "userDefined": true - }, - { - "text": " on ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "0a831a75-4120-4535-96a2-aa40bb08edb3", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Ca Marche", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Maitre Gims", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a62fdd37-45ff-447c-97d3-223fb3eef801", - "data": [ - { - "text": "I want to listen to ", - "userDefined": false - }, - { - "text": "Crazy", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " performed by ", - "userDefined": false - }, - { - "text": "Aerosmith", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "8412430c-9182-4412-a8f7-2a60b7d064ec", - "data": [ - { - "text": "play", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "songs", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "from", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " playlist ", - "userDefined": false - }, - { - "text": "Hot Hits UK", - "alias": "playlist", - "meta": "@playlist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "d4b457c5-bfbf-44e1-8fb0-afb46d2448fc", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "One Direction", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "d4879ec4-d109-4703-b6a0-b7e537b68cf6", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "on", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "75f031ea-f0c3-4d2d-a7c9-b6473c2d9cc5", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Dangerous", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " feat ", - "userDefined": false - }, - { - "text": "Sam Martin", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "David Guetta", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " song on ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "400a712b-c701-4eac-97ff-8932f1b65109", - "data": [ - { - "text": "play something by ", - "userDefined": false - }, - { - "text": "Rihanna", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "affb702a-6145-484e-8a19-9f8f5ee81319", - "data": [ - { - "text": "the song ", - "userDefined": false - }, - { - "text": "Grew", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Bruno Mars", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "172ddfdb-9d9e-430b-929e-9b78a7beddf3", - "data": [ - { - "text": "let\u0027s hear ", - "userDefined": false - }, - { - "text": "The Beatles", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "cb952e74-7f67-43b9-8262-1b8a2e2b8625", - "data": [ - { - "text": "can you start playing music", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "ddd7408f-8bbc-46fd-86aa-6322b6c3aa8f", - "data": [ - { - "text": "I want to listen to ", - "userDefined": false - }, - { - "text": "Ariana Grande", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "6f1e750b-e40e-4adc-8f2c-fa2568257178", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Justin Bieber", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "df5e75a6-e592-40a8-b515-b1785a7b3f1f", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Abbey Road", - "alias": "album", - "meta": "@music-album", - "userDefined": true - }, - { - "text": " remastered by ", - "userDefined": false - }, - { - "text": "The Beatles", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "d1c947cd-cc54-4e68-80c2-8ba9b61e4024", - "data": [ - { - "text": "play", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "r\u0026b", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "642f3a40-1168-45e9-af74-2d439ba63bef", - "data": [ - { - "text": "play a ", - "userDefined": false - }, - { - "text": "romantic", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "8e175fb1-5908-49b4-bf23-85dc77ed8ffc", - "data": [ - { - "text": "play song ", - "userDefined": false - }, - { - "text": "Thriller", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "df767c28-f11c-4e7c-9875-1ea8d4871fac", - "data": [ - { - "text": "I\u0027d like to listen to ", - "userDefined": false - }, - { - "text": "classic opera", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "63c74e0b-8766-4df6-ba94-717ad2f4aff8", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Bad", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " from ", - "userDefined": false - }, - { - "text": "Michael Jackson", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "269c71e0-e42e-4c41-8495-e35449bfd90a", - "data": [ - { - "text": "play song by ", - "userDefined": false - }, - { - "text": "Eminem", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " and ", - "userDefined": false - }, - { - "text": "Rihanna", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "f556da1d-10e3-4c50-a454-da9b654bc8f3", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "françoise hardy", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "283d983d-98e1-4df4-81b4-0207567d3974", - "data": [ - { - "text": "switch to ", - "userDefined": false - }, - { - "text": "workout", - "alias": "playlist", - "meta": "@playlist", - "userDefined": true - }, - { - "text": " music", - "userDefined": false - } - ], - "isTemplate": false, - "count": 1, - "updated": 0 - }, - { - "id": "33a0ab8d-341a-4a6d-833d-b90995d4764f", - "data": [ - { - "text": "play album ", - "userDefined": false - }, - { - "text": "Songs for the Deaf", - "alias": "album", - "meta": "@music-album", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Queens of the stone age", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "98f98243-0f50-43af-99e4-e6a701bdb923", - "data": [ - { - "text": "Hollaback Girl", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " music", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "768a22cf-6066-44e4-848a-bb3655bf784f", - "data": [ - { - "text": "play something by ", - "userDefined": false - }, - { - "text": "The Rolling Stones", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 1, - "updated": 0 - }, - { - "id": "6265a232-c622-40c3-87db-5ad3db85df28", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "jazz", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "8d9963f5-cf9c-428a-98f3-77e472fd5b04", - "data": [ - { - "text": "play the ", - "userDefined": false - }, - { - "text": "Mean Kitty", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "757b7e86-b9de-4f24-b472-b929f3c6ca6e", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Amy Winehouse", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "2f7bd4b4-2305-49ad-a8bf-a9692ffa27c2", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Drake", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "9cea1a96-526c-43ab-9d6a-4894cbfc5b39", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Meghan Trainor", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "1c32a3a4-bd47-4c7c-9367-abfb7f4c27b3", - "data": [ - { - "text": "I\u0027d like to listen to ", - "userDefined": false - }, - { - "text": "jazz", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - } - ], - "isTemplate": false, - "count": 1, - "updated": 0 - }, - { - "id": "7467827c-3b39-4919-8fd1-671da5153eb7", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Gospel", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - }, - { - "text": " songs on ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "650927fc-7680-4602-9d67-10ef052ad78b", - "data": [ - { - "text": "I want to listen to ", - "userDefined": false - }, - { - "text": "Temperature", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Sean Paul", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "6792c706-ff8d-4a61-8e5e-d3638bafb3e7", - "data": [ - { - "text": "play songs by ", - "userDefined": false - }, - { - "text": "Ellie Goulding", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "7b7ee199-6a86-4d40-92eb-28c485fc8237", - "data": [ - { - "text": "play the song ", - "userDefined": false - }, - { - "text": "Encantadora", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "48f9a456-4c97-4853-b0d8-6e5ccc9e0c4d", - "data": [ - { - "text": "put on my ", - "userDefined": false - }, - { - "text": "late night", - "alias": "playlist", - "meta": "@playlist", - "userDefined": true - }, - { - "text": " playlist", - "userDefined": false - } - ], - "isTemplate": false, - "count": 1, - "updated": 0 - }, - { - "id": "d964c519-c04a-43e6-9a5b-65cbf3675224", - "data": [ - { - "text": "I want to listen to ", - "userDefined": false - }, - { - "text": "Bleeding Love", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "d397d0a4-0e29-4a5d-bd70-1a48afc28168", - "data": [ - { - "text": "can", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " you play ", - "userDefined": false - }, - { - "text": "Adele", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "226efae3-8551-4a13-b9ca-854ee9407f79", - "data": [ - { - "text": "play song from ", - "userDefined": false - }, - { - "text": "Rihanna", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "71b9ccc4-b8f6-4244-b4f6-28a72464b1ef", - "data": [ - { - "text": "can you play song ", - "userDefined": false - }, - { - "text": "Dark Horse", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "710491f2-3f97-46c4-88a5-bf8055adbd92", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Miracles", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " from ", - "userDefined": false - }, - { - "text": "Apple Music", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "9cc89a30-6a79-445f-a695-e54dccab5e53", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "RnB", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "187e7d29-1b5a-427a-a6a7-fa80965dbe60", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Do I Wanna Know", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Arctic Monkeys", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "47412244-c03e-4f77-bcd6-371ccd6a4612", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "hip hop", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "2460edc3-3fa8-4220-9f88-957b3fc5e622", - "data": [ - { - "text": "play a song from ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "2a33e951-9079-48b1-8304-91f2177aabdc", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Black Widow", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Iggy Azalea", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " song on ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "600a7eb6-8da7-4d60-b8f3-75084e14aa62", - "data": [ - { - "text": "play music by ", - "userDefined": false - }, - { - "text": "Marco Mengoni", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "4a51c7fa-d779-4bda-961f-8addc818a2ee", - "data": [ - { - "text": "play genre ", - "userDefined": false - }, - { - "text": "blues", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "c5b311f0-01c1-4ef2-b327-e3488c61d194", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Nirvana", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "c3de288a-2fda-4e50-ab80-4b4619b136a3", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "songs", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Enrique Iglesias", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 2, - "updated": 0 - }, - { - "id": "fb063662-66d2-408e-b02e-45d7d1e56cc9", - "data": [ - { - "text": "I want to listen to some ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "df04c95d-9e6c-4ec3-9b07-458d284465cb", - "data": [ - { - "text": "songs by ", - "userDefined": false - }, - { - "text": "Tom Waits", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "919b3261-925d-477d-a81f-cf745f79be73", - "data": [ - { - "text": "I\u0027d like to listen to ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "70ece144-6411-4d2c-9c3e-76a5fe8df0cd", - "data": [ - { - "text": "play song ", - "userDefined": false - }, - { - "text": "from", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "iTunes", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "ea122652-0bef-40cd-8c2c-1a3a0baa7b1f", - "data": [ - { - "text": "I want to listen to something by ", - "userDefined": false - }, - { - "text": "Madonna", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a36d7a17-a4a3-42e5-a7da-8a842b13261d", - "data": [ - { - "text": "play artist ", - "userDefined": false - }, - { - "text": "Meghan Trainor", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "50033e2f-1f47-4558-b463-f671412b2d60", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Britney Spears", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "Me Against the Music", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " feat ", - "userDefined": false - }, - { - "text": "Madonna", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "aacfafab-2472-4aa4-a9f0-c7032a66f1ec", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "The Police", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "68e27cf4-f036-4922-bf96-837efefead72", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Never listen", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "Julia Othmer", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "82665e89-c7ff-4fa8-88fc-bfbfcdc081cf", - "data": [ - { - "text": "play the song ", - "userDefined": false - }, - { - "text": "Bird", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "ccb4fe47-d139-42b9-85d3-b705035ca606", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Rihanna", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " on ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "26e4ef21-d1dd-4764-b788-78ef36960ab2", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Miracles", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " from ", - "userDefined": false - }, - { - "text": "phone", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "6c8a9102-3d86-4485-89f2-32d09e5514ba", - "data": [ - { - "text": "play", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "Adele", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": "\u0027s ", - "userDefined": false - }, - { - "text": "Hello", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "f1cd710f-333b-403b-a40a-4d2a4f59c493", - "data": [ - { - "text": "play", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "Imagine Dragons", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "10fa87c3-1563-45e9-93f8-31ff757f6e1e", - "data": [ - { - "text": "play some ", - "userDefined": false - }, - { - "text": "smooth jazz", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "bf97fdc3-9aa6-4d88-9de1-b5bd04e5b228", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Bohemian Rhapsody", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Queen", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "1059d415-3a79-48b1-9fd0-59888e955aab", - "data": [ - { - "text": "play the album ", - "userDefined": false - }, - { - "text": "Divorcio", - "alias": "album", - "meta": "@music-album", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Julio Iglesia", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "afb3d4e6-1835-4c7c-92ff-159e3418d079", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Thinking Out Loud", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Ed Sheeran", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "bad552f1-3623-43eb-ad57-707856aba08a", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Harder Better Faster", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "bfdf2ac1-0d50-498f-a558-79e0507a7d5b", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a67145ff-df87-4242-9c5f-2505ec2b0eea", - "data": [ - { - "text": "Cher", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "Believe", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "aceb8375-c055-4b5f-819c-e24c8be35fc3", - "data": [ - { - "text": "Blank Space", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "949e513a-0e63-43da-b2fb-bcfa14fba0f2", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Thriller", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "Michael Jackson", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "6b3938b2-5d2a-407d-b610-9e86eec7261e", - "data": [ - { - "text": "play album ", - "userDefined": false - }, - { - "text": "Madonna", - "alias": "album", - "meta": "@music-album", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Madonna", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "884d7c51-fd31-4afd-8bde-c65d045a02e1", - "data": [ - { - "text": "put", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "on", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " some ", - "userDefined": false - }, - { - "text": "Rolling Stones", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "afda44f2-b66a-4f57-ad85-3be5a014ac55", - "data": [ - { - "text": "play a song from my ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "library", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "498d74c8-f6fb-4514-b21f-f42083ea435a", - "data": [ - { - "text": "play genre ", - "userDefined": false - }, - { - "text": "party", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "f7cff84a-2606-46e2-8736-1b694a4420c8", - "data": [ - { - "text": "Live While We are Young", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "38ab8a22-465c-4f48-a443-0383f1dab382", - "data": [ - { - "text": "play a ", - "userDefined": false - }, - { - "text": "country", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a170cbd8-595e-4418-94fa-4f122038e651", - "data": [ - { - "text": "play", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "Best of You", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Foo Fighters", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "94abfa0e-280b-4401-a3ae-58f0d727d2f9", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Keep On Walking", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "CeCe", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "20ff5ce3-7acb-46a2-ba25-dd84e3f4d273", - "data": [ - { - "text": "can", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " you turn ", - "userDefined": false - }, - { - "text": "on", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " my ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "23bcca1c-b7cf-4001-be83-07df61a8a264", - "data": [ - { - "text": "play a ", - "userDefined": false - }, - { - "text": "U2", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "8f576510-622b-4839-a97a-0ed793724f4a", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Experimental", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - }, - { - "text": " songs on ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "be65effc-4c48-43f4-8a51-6d3e352956e7", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Miracle", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " from ", - "userDefined": false - }, - { - "text": "Apple Music", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "b9b72a58-2a2f-4e72-81ec-91ba52dcb140", - "data": [ - { - "text": "I want to listen to ", - "userDefined": false - }, - { - "text": "Disturbia", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "b4cb7f5c-8133-4c8e-a63a-c039436c456f", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Elastic Heart", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Sia", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " song on ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "11fbfd11-5ae5-40ac-8032-176e568bd457", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "6 Words", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Wretch 32", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " on ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "87cbbcc8-3839-435e-875c-32750b80a646", - "data": [ - { - "text": "can you play ", - "userDefined": false - }, - { - "text": "Irreplaceable", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Beyonce", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 1, - "updated": 0 - }, - { - "id": "ca1807fb-6616-4597-b7ab-65a3a80c45e3", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "I Will Always Love You", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " from ", - "userDefined": false - }, - { - "text": "Whitney Houston", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "87e08518-5170-409e-97fb-5b10c2463c94", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "my faves", - "alias": "playlist", - "meta": "@playlist", - "userDefined": true - }, - { - "text": " playlist", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "220f26f8-ee29-4eed-b80b-caa9cef5cb52", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Metallica", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 1, - "updated": 0 - }, - { - "id": "8e3541a5-8d8b-4ad4-b703-ac7991d04a63", - "data": [ - { - "text": "play song ", - "userDefined": false - }, - { - "text": "The Cantos de Mallorca", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 23, - "updated": 0 - }, - { - "id": "5198c960-2842-4fc9-9249-a9ca961a23af", - "data": [ - { - "text": "I would like to hear some ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 1, - "updated": 0 - }, - { - "id": "04b1aeba-2417-4b3a-9ba2-a9388a5f196b", - "data": [ - { - "text": "play genre ", - "userDefined": false - }, - { - "text": "romance", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "6ffac0fc-c209-4db2-90aa-9195d79a2232", - "data": [ - { - "text": "change", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "to", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " my ", - "userDefined": false - }, - { - "text": "workout", - "alias": "playlist", - "meta": "@playlist", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "89528305-1941-43a1-af61-53bfd06c9c54", - "data": [ - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "Grenade", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " in my ", - "userDefined": false - }, - { - "text": "library", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "ddc5ddd3-9902-497f-b01a-afa9de33197a", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Let Her Go", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Passenger", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " song on ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "83fe76d6-d82b-4608-94c2-08865d775632", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Maroon 5", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "7ae9c980-66c8-4009-8dd0-eb5bb1790e09", - "data": [ - { - "text": "turn on", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "meditative", - "alias": "playlist", - "meta": "@playlist", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "tracks", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "d2771282-c5f0-46d0-90a1-546be28fc87e", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Do you Mind", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Changing Faces", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "c12d0f32-a322-4cc4-9d99-38b88c0b0dc7", - "data": [ - { - "text": "can you play ", - "userDefined": false - }, - { - "text": "It Must Have Been Love", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "f327361f-d9f6-42b8-96f1-167a68c4064f", - "data": [ - { - "text": "will", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " you please play ", - "userDefined": false - }, - { - "text": "Tik Tok", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "0ad3e07c-3410-4706-b480-5d8a7acde886", - "data": [ - { - "text": "play any song ", - "userDefined": false - }, - { - "text": "of", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "Babbu Maan", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " from my ", - "userDefined": false - }, - { - "text": "library", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "38c7ce00-85c7-453b-9a1c-c07755ba705d", - "data": [ - { - "text": "play the album ", - "userDefined": false - }, - { - "text": "Un monde meilleur", - "alias": "album", - "meta": "@music-album", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Kids United", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "4dce1fc0-c708-425a-aad8-92b38f29633b", - "data": [ - { - "text": "can you play the song ", - "userDefined": false - }, - { - "text": "Still into You", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "dea8b13f-9b5e-433e-91b4-a2632923a235", - "data": [ - { - "text": "can you please play a song from my ", - "userDefined": false - }, - { - "text": "favourite", - "alias": "playlist", - "meta": "@playlist", - "userDefined": true - }, - { - "text": " playlist", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "6ec8e79c-1046-4bf9-86b5-707725f50c0b", - "data": [ - { - "text": "play song ", - "userDefined": false - }, - { - "text": "In Da Club", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a4a1227d-3caf-4250-ba61-9e5e82853a1a", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " for me", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "cc911300-6be8-4005-afec-6d69c17c5c89", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "21", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Adele", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " on ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a6df9ebf-04cd-4dee-967a-a80924dab3dd", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Now Call Mom", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "6ef00ec3-689c-4b4d-bddf-33a8db64da61", - "data": [ - { - "text": "play me a song by ", - "userDefined": false - }, - { - "text": "Aventura", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "37b8d332-9c6a-41c7-97be-12940cbe9d48", - "data": [ - { - "text": "Tom Waits", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " songs", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "bdb361c7-208e-4e3e-aacf-d43172173f1d", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Song of Joy", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "10dad1aa-e8a5-4847-b809-4b849e11928b", - "data": [ - { - "text": "I wanna listen to ", - "userDefined": false - }, - { - "text": "reggae", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "25278946-e823-43ef-958d-4be7757858fa", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Tears in Heaven", - "alias": "album", - "meta": "@music-album", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Eric Clapton", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "93173604-0a30-49c8-b4ec-9580bc3e2b08", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Anaconda", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Nicki Minaj", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "c5eb5234-0a7f-49ac-a1d2-db28c49c4db3", - "data": [ - { - "text": "please play song ", - "userDefined": false - }, - { - "text": "Secret Love Song", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "b99b9842-0d8a-4200-bf9e-446b97e3651a", - "data": [ - { - "text": "a", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " song ", - "userDefined": false - }, - { - "text": "Still Loving You", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "98a809bf-7ee5-47fb-acb5-768b5fe9bdff", - "data": [ - { - "text": "can you play ", - "userDefined": false - }, - { - "text": "How You Remind Me", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "e2be7657-6d72-471e-9c8b-dbd0fc10f52b", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Theory of a Deadman", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 1497017425 - }, - { - "id": "b47dd2ec-948f-4679-a03e-6df29485688f", - "data": [ - { - "text": "play me some ", - "userDefined": false - }, - { - "text": "Michael Jackson", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a24ee159-1dca-4fed-aa8c-cc2a49022a6b", - "data": [ - { - "text": "play artist ", - "userDefined": false - }, - { - "text": "ACDC", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 1, - "updated": 0 - }, - { - "id": "10adef9f-bf9d-441e-b131-bf17671cdf48", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Miracle", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "1f8df08a-4aab-4581-8bcb-66c4af33a559", - "data": [ - { - "text": "play album ", - "userDefined": false - }, - { - "text": "Purple Rain", - "alias": "album", - "meta": "@music-album", - "userDefined": true - }, - { - "text": " on ", - "userDefined": false - }, - { - "text": "Spotify", - "alias": "service", - "meta": "@music-service", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "ca158749-3e4f-4a25-8a43-40ff4070e48d", - "data": [ - { - "text": "can you play the song ", - "userDefined": false - }, - { - "text": "Beauty and a Beat", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "2f07511a-7bf9-464c-a0d9-10791c0b3aab", - "data": [ - { - "text": "play some ", - "userDefined": false - }, - { - "text": "rock n roll", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "dcd0b614-d7b4-4564-bddd-daaac3989d87", - "data": [ - { - "text": "play a song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a79c1d43-6ceb-443f-8490-80a1c952e29d", - "data": [ - { - "text": "play the ", - "userDefined": false - }, - { - "text": "newest", - "alias": "sort", - "meta": "@music-sort", - "userDefined": true - }, - { - "text": " song by ", - "userDefined": false - }, - { - "text": "Eminem", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "d28275ed-81fb-420d-a64d-2456de43229b", - "data": [ - { - "text": "put ", - "userDefined": false - }, - { - "text": "on", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "some", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "463ee578-3305-45d3-89df-d9f794ec84a1", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "country blues", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "188a93b3-991e-4dd3-a832-22609729b568", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Queens of the stone age", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "d8839581-1a5b-4cb3-a95c-ee4eba449921", - "data": [ - { - "text": "No Scrubs", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " song play", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "41fd1f25-e099-4612-a8ba-8ebc1a1e0035", - "data": [ - { - "text": "play song ", - "userDefined": false - }, - { - "text": "How do I Live", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "1d9df822-ccae-4427-8231-a24d6361bdb3", - "data": [ - { - "text": "play album ", - "userDefined": false - }, - { - "text": "The marshall mathers", - "alias": "album", - "meta": "@music-album", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Eminem", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "b20f0ae3-164f-401f-84c9-aa9634b60c38", - "data": [ - { - "text": "play album ", - "userDefined": false - }, - { - "text": "Horses", - "alias": "album", - "meta": "@music-album", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "b9663329-579d-421c-8721-8d1809c0d225", - "data": [ - { - "text": "play a song ", - "userDefined": false - }, - { - "text": "Tera Mera Rishta", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "d38034bf-c988-400d-8406-c41890899fbe", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "The Antlers", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "8c0fb53f-14ec-4b1a-86b0-0e92ea9988e2", - "data": [ - { - "text": "Play", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "chill", - "alias": "playlist", - "meta": "@playlist", - "userDefined": true - }, - { - "text": " playlist", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "f370ceb8-c706-4770-b13f-9bb3c158161a", - "data": [ - { - "text": "play a ", - "userDefined": false - }, - { - "text": "rock", - "alias": "genre", - "meta": "@sys.music-genre", - "userDefined": true - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "92e80d1f-7a17-433b-8e4c-2a884c398277", - "data": [ - { - "text": "turn ", - "userDefined": false - }, - { - "text": "on", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " the ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "7ac433c5-387a-4e3c-9b21-4bbf86cf54b4", - "data": [ - { - "text": "can you play some music", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a40407bb-38e5-4ba7-b64c-e77b902d61b3", - "data": [ - { - "text": "play song ", - "userDefined": false - }, - { - "text": "Krystof", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "Tak Pojd Hlwdat Breh", - "alias": "song", - "meta": "@song", - "userDefined": true - } - ], - "isTemplate": false, - "count": 45, - "updated": 0 - }, - { - "id": "ab2f6e07-3af3-4000-9c4a-bc62cb2f09d4", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "Focus", - "alias": "song", - "meta": "@song", - "userDefined": true - }, - { - "text": " by ", - "userDefined": false - }, - { - "text": "Ariana Grande", - "alias": "artist", - "meta": "@sys.music-artist", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - } -] \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.add_favorite.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.add_favorite.json deleted file mode 100644 index 7a613ddd..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.add_favorite.json +++ /dev/null @@ -1,37 +0,0 @@ -{ - "id": "75b1cd1c-ecc9-4c16-b8bc-a3b2153954cc", - "name": "music_player_control.add_favorite", - "auto": true, - "contexts": [ - "music-player-control" - ], - "responses": [ - { - "resetContexts": false, - "action": "music_player_control.add_favorite", - "affectedContexts": [ - { - "name": "music-player-control", - "parameters": {}, - "lifespan": 3 - } - ], - "parameters": [], - "messages": [ - { - "type": 0, - "lang": "en", - "speech": [] - } - ], - "defaultResponsePlatforms": {}, - "speech": [] - } - ], - "priority": 500000, - "webhookUsed": false, - "webhookForSlotFilling": false, - "lastUpdate": 1496995044549, - "fallbackIntent": false, - "events": [] -} \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.add_favorite_usersays_en.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.add_favorite_usersays_en.json deleted file mode 100644 index e94a9ed2..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.add_favorite_usersays_en.json +++ /dev/null @@ -1,178 +0,0 @@ -[ - { - "id": "502c4820-23f6-4280-b7e7-be2abb7409db", - "data": [ - { - "text": "it\u0027s my favourite", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "87e4a21f-d682-4397-a7a1-6f14c397d3aa", - "data": [ - { - "text": "I", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "love", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " this song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "99cfb77a-4e7e-4eb6-baed-2aa5f132b771", - "data": [ - { - "text": "put this track into my favourites", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "da909d83-bdd2-4fbb-a159-a315950c77a9", - "data": [ - { - "text": "add to ", - "userDefined": false - }, - { - "text": "faves", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "f82e039c-0f0e-479f-a56d-7b2e434981b3", - "data": [ - { - "text": "add this song to my ", - "userDefined": false - }, - { - "text": "favourites", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "710574b0-bf68-4395-91be-9df929547295", - "data": [ - { - "text": "add this song to ", - "userDefined": false - }, - { - "text": "favorites", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "e1137399-47fc-4e30-9397-29510c535731", - "data": [ - { - "text": "add it to ", - "userDefined": false - }, - { - "text": "my favourites", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "e866c7e9-cad4-44ab-9327-6576e7b0d1b7", - "data": [ - { - "text": "favourite", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " this song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "f5898038-a109-47d3-aad6-6301f662fee2", - "data": [ - { - "text": "could you mark it as favourite", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "179136ba-cd2e-40e8-aaae-6913404d2530", - "data": [ - { - "text": "remember this song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "48af2f2b-57ea-43d7-a399-4db18d83456c", - "data": [ - { - "text": "fave", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " this song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - } -] \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.add_playlist.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.add_playlist.json deleted file mode 100644 index fcb7346f..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.add_playlist.json +++ /dev/null @@ -1,45 +0,0 @@ -{ - "id": "6315f5ee-327f-4c47-8512-b5fe0bebe020", - "name": "music_player_control.add_playlist", - "auto": true, - "contexts": [ - "music-player-control" - ], - "responses": [ - { - "resetContexts": false, - "action": "music_player_control.add_playlist", - "affectedContexts": [ - { - "name": "music-player-control", - "parameters": {}, - "lifespan": 3 - } - ], - "parameters": [ - { - "id": "ee99ad29-dd22-4209-8a6e-bc6318c036e6", - "dataType": "@sys.any", - "name": "playlist", - "value": "$playlist", - "isList": false - } - ], - "messages": [ - { - "type": 0, - "lang": "en", - "speech": [] - } - ], - "defaultResponsePlatforms": {}, - "speech": [] - } - ], - "priority": 500000, - "webhookUsed": false, - "webhookForSlotFilling": false, - "lastUpdate": 1496995044571, - "fallbackIntent": false, - "events": [] -} \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.add_playlist_usersays_en.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.add_playlist_usersays_en.json deleted file mode 100644 index 7dfb00df..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.add_playlist_usersays_en.json +++ /dev/null @@ -1,155 +0,0 @@ -[ - { - "id": "f41942b0-e652-47a5-8e01-b0580c87e98a", - "data": [ - { - "text": "put it into the playlist ", - "userDefined": false - }, - { - "text": "Running", - "alias": "playlist", - "meta": "@sys.any", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "2f1ff037-28e1-401f-b978-034c2c9c89a8", - "data": [ - { - "text": "put it on my ", - "userDefined": false - }, - { - "text": "Late Night", - "alias": "playlist", - "meta": "@sys.any", - "userDefined": true - }, - { - "text": " playlist", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "533c99cb-c20b-46c7-a57d-702ac28dce06", - "data": [ - { - "text": "move it to the ", - "userDefined": false - }, - { - "text": "Gym", - "alias": "playlist", - "meta": "@sys.any", - "userDefined": true - }, - { - "text": " playlist", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "4d9d5238-1395-41bd-9b3e-44e54f460717", - "data": [ - { - "text": "save ", - "userDefined": false - }, - { - "text": "this", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " song to my ", - "userDefined": false - }, - { - "text": "Workout", - "alias": "playlist", - "meta": "@sys.any", - "userDefined": true - }, - { - "text": " playlist", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "0762f05b-407d-4381-b5ec-fa92b1c07cd5", - "data": [ - { - "text": "add ", - "userDefined": false - }, - { - "text": "this", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " song to my playlist", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "5fb50231-4168-4872-90d5-b97a57a4a0f3", - "data": [ - { - "text": "add it to the playlist ", - "userDefined": false - }, - { - "text": "Yoga", - "alias": "playlist", - "meta": "@sys.any", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "6608f743-b21c-403c-aa74-7f5d7ac39986", - "data": [ - { - "text": "save ", - "userDefined": false - }, - { - "text": "this", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " track in my playlist", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - } -] \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.pause.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.pause.json deleted file mode 100644 index 48c62c95..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.pause.json +++ /dev/null @@ -1,37 +0,0 @@ -{ - "id": "726c72bd-dd50-4d5f-bc69-627f04ef3b2f", - "name": "music_player_control.pause", - "auto": true, - "contexts": [ - "music-player-control" - ], - "responses": [ - { - "resetContexts": false, - "action": "music_player_control.pause", - "affectedContexts": [ - { - "name": "music-player-control", - "parameters": {}, - "lifespan": 3 - } - ], - "parameters": [], - "messages": [ - { - "type": 0, - "lang": "en", - "speech": [] - } - ], - "defaultResponsePlatforms": {}, - "speech": [] - } - ], - "priority": 500000, - "webhookUsed": false, - "webhookForSlotFilling": false, - "lastUpdate": 1496995044542, - "fallbackIntent": false, - "events": [] -} \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.pause_usersays_en.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.pause_usersays_en.json deleted file mode 100644 index 4eaca567..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.pause_usersays_en.json +++ /dev/null @@ -1,108 +0,0 @@ -[ - { - "id": "162342e0-af29-485b-9460-ae0b3a2dc2e4", - "data": [ - { - "text": "can you pause ", - "userDefined": false - }, - { - "text": "it", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "b11e776a-dd85-4c98-8eb7-225eac6bde6b", - "data": [ - { - "text": "put it on pause", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "3de0c5b1-ba70-4ffc-974b-849aecde4862", - "data": [ - { - "text": "pause playing", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "60805177-3fb6-4f3f-aa39-8bae18c7aa24", - "data": [ - { - "text": "pause song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "3274762f-cd92-4188-b087-e3b8fa1819d1", - "data": [ - { - "text": "pause ", - "userDefined": false - }, - { - "text": "it", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "91abaa3b-b353-4fdd-a21a-26e140af062d", - "data": [ - { - "text": "pause", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "86f2580c-0ab5-4c50-ad51-790e81f496b6", - "data": [ - { - "text": "please pause", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "b4aa7ed6-8b9a-4767-92f5-f3b7e2520be2", - "data": [ - { - "text": "pause this song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - } -] \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.play.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.play.json deleted file mode 100644 index 8a8c72a0..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.play.json +++ /dev/null @@ -1,37 +0,0 @@ -{ - "id": "ce58082e-3375-4229-a1d3-66b11fc44a33", - "name": "music_player_control.play", - "auto": true, - "contexts": [ - "music-player-control" - ], - "responses": [ - { - "resetContexts": false, - "action": "music_player_control.play", - "affectedContexts": [ - { - "name": "music-player-control", - "parameters": {}, - "lifespan": 3 - } - ], - "parameters": [], - "messages": [ - { - "type": 0, - "lang": "en", - "speech": [] - } - ], - "defaultResponsePlatforms": {}, - "speech": [] - } - ], - "priority": 500000, - "webhookUsed": false, - "webhookForSlotFilling": false, - "lastUpdate": 1496995044553, - "fallbackIntent": false, - "events": [] -} \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.play_usersays_en.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.play_usersays_en.json deleted file mode 100644 index 4da0b399..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.play_usersays_en.json +++ /dev/null @@ -1,289 +0,0 @@ -[ - { - "id": "f098f50b-845b-4ce3-aad9-cca7583c2924", - "data": [ - { - "text": "can", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " you ", - "userDefined": false - }, - { - "text": "play", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "it", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "4ac6acb4-9cdb-4438-92b3-960f3813048f", - "data": [ - { - "text": "play", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " this", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "62cd9a42-5cf7-47bd-9538-d9cc3dbdd811", - "data": [ - { - "text": "could", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " you ", - "userDefined": false - }, - { - "text": "play", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " this one", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "5c738eb0-0705-4416-87c5-b6e4b9708433", - "data": [ - { - "text": "play", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "d9e5dc70-43b7-4bca-980e-abef66dc260b", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "it", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "dd0eb425-4ce5-4ca2-bbac-866b20b28c9f", - "data": [ - { - "text": "could", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " you ", - "userDefined": false - }, - { - "text": "play", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " it for ", - "userDefined": false - }, - { - "text": "me", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "df174d51-6caa-40fe-a46c-b8743bd3625c", - "data": [ - { - "text": "now", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "start", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " playing", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "48ba2aa1-e9b3-476d-8cc9-14e1fbacfd35", - "data": [ - { - "text": "now", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "play", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "cb52c98e-ebb9-4929-9de9-71b8f26c02f5", - "data": [ - { - "text": "start", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " playing ", - "userDefined": false - }, - { - "text": "it", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "e3582d27-4f67-4fcf-8789-1ef3525a381e", - "data": [ - { - "text": "play", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "it", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "fd5d4c65-2cb4-4657-a8f1-24497e01c595", - "data": [ - { - "text": "and ", - "userDefined": false - }, - { - "text": "play", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "it", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "92a51f0b-f1b2-42b1-a87a-4f664bfc12c6", - "data": [ - { - "text": "I want you ", - "userDefined": false - }, - { - "text": "to", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "play", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "it", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - } -] \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.repeat.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.repeat.json deleted file mode 100644 index be58d4f3..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.repeat.json +++ /dev/null @@ -1,37 +0,0 @@ -{ - "id": "af2b866d-f6e3-4425-92fc-85d9e1f308d7", - "name": "music_player_control.repeat", - "auto": true, - "contexts": [ - "music-player-control" - ], - "responses": [ - { - "resetContexts": false, - "action": "music_player_control.repeat", - "affectedContexts": [ - { - "name": "music-player-control", - "parameters": {}, - "lifespan": 3 - } - ], - "parameters": [], - "messages": [ - { - "type": 0, - "lang": "en", - "speech": [] - } - ], - "defaultResponsePlatforms": {}, - "speech": [] - } - ], - "priority": 500000, - "webhookUsed": false, - "webhookForSlotFilling": false, - "lastUpdate": 1496995044540, - "fallbackIntent": false, - "events": [] -} \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.repeat_usersays_en.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.repeat_usersays_en.json deleted file mode 100644 index ef6c2942..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.repeat_usersays_en.json +++ /dev/null @@ -1,651 +0,0 @@ -[ - { - "id": "8279fd5f-a41b-4e4b-8011-47edb5c916eb", - "data": [ - { - "text": "I", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " want ", - "userDefined": false - }, - { - "text": "to", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " listen ", - "userDefined": false - }, - { - "text": "to", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " this song once again", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "ff784cc5-d872-40a8-a8cf-1f45de2b3bfc", - "data": [ - { - "text": "turn on", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " repeat mode for ", - "userDefined": false - }, - { - "text": "it", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "37420c0f-179a-4340-92d5-d325a958368a", - "data": [ - { - "text": "repeat ", - "userDefined": false - }, - { - "text": "it", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "once", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " again", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "26570cc9-e98d-4787-9015-b369fd0cd8bb", - "data": [ - { - "text": "play this track", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "once", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " again", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "7dc5bfeb-f60f-4009-8ae0-8501e35af89f", - "data": [ - { - "text": "repeat this track one", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "more", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "time", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "23113a23-6a81-4038-813c-77c070bb5e48", - "data": [ - { - "text": "put ", - "userDefined": false - }, - { - "text": "it", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "on", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " repeat mode", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "d94650e0-e3bd-45df-a7bd-469219dbdfe7", - "data": [ - { - "text": "put this ", - "userDefined": false - }, - { - "text": "on", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " repeat", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "f26ff4f2-7c2b-4c4a-a182-d082ba947741", - "data": [ - { - "text": "repeat this ", - "userDefined": false - }, - { - "text": "song", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "once", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " again", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "b8ce9e24-b751-4e4f-8c70-5fc3668b14fc", - "data": [ - { - "text": "put this ", - "userDefined": false - }, - { - "text": "track", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "on", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " repeat", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "3c188110-0b09-48cb-8204-3e9ce532e84d", - "data": [ - { - "text": "play", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " again from the ", - "userDefined": false - }, - { - "text": "very", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " beginning", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "90b65c7a-10db-4d8f-ba1a-3760c985c800", - "data": [ - { - "text": "turn on", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " repeat for this ", - "userDefined": false - }, - { - "text": "song", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "b8d3aa06-47af-4b17-a198-35bfa762c3c1", - "data": [ - { - "text": "repeat this song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "45a408d3-a6a1-4876-b39c-37038cf3a86e", - "data": [ - { - "text": "repeat this ", - "userDefined": false - }, - { - "text": "track", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "ef78b9dc-7026-4093-b90b-bf2dab521ed0", - "data": [ - { - "text": "play this song again", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "fa7dcfb0-1e77-4e3f-898f-dcb5d63fadb8", - "data": [ - { - "text": "play", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " it ", - "userDefined": false - }, - { - "text": "one", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "more", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "time", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "08043402-da62-43fa-bcce-7ef51551f6bb", - "data": [ - { - "text": "repeat ", - "userDefined": false - }, - { - "text": "one", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "more", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "time", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "05ab3a12-d5ae-4086-8b2a-8cb3307484a2", - "data": [ - { - "text": "repeat", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "fcfe36ba-ccba-4deb-b2ae-db32292436e0", - "data": [ - { - "text": "let\u0027", - "userDefined": false - }, - { - "text": "s", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " repeat this ", - "userDefined": false - }, - { - "text": "track", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a768f306-b47b-4710-b768-5e245fd9600f", - "data": [ - { - "text": "turn on", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " repeat mode for this ", - "userDefined": false - }, - { - "text": "song", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "be857c76-1ce9-4e42-989a-4504c779b8c1", - "data": [ - { - "text": "repeat ", - "userDefined": false - }, - { - "text": "mode for this track", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "4b18fef4-ef84-4a45-b029-a10bee4bb7ce", - "data": [ - { - "text": "one", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " more time", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a37e2385-2b6c-4745-922d-a16af957c352", - "data": [ - { - "text": "can you repeat this track", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a282d0fb-ec7d-4fe7-b892-3989b739c0ea", - "data": [ - { - "text": "can", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " you repeat ", - "userDefined": false - }, - { - "text": "it", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "29fea104-7adf-4d2d-8e73-e60015fa786a", - "data": [ - { - "text": "repeat it", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "e0ce3070-f7ba-4db5-8494-4cb8a7e6c2d2", - "data": [ - { - "text": "could", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " you repeat them", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "8c33ec71-5006-4b60-b7aa-43c24497dc60", - "data": [ - { - "text": "repeat the ", - "userDefined": false - }, - { - "text": "song", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "59061600-8e19-4a80-a021-b51d175782ff", - "data": [ - { - "text": "play", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "it", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " again", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "2dbf6bda-4465-4ca5-baf0-dead73439e71", - "data": [ - { - "text": "play", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " this song from the beginning", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "7c2058a4-e5e2-4456-82a3-238408e9347a", - "data": [ - { - "text": "repeat please", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - } -] \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.resume.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.resume.json deleted file mode 100644 index 47ac2c28..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.resume.json +++ /dev/null @@ -1,37 +0,0 @@ -{ - "id": "bf047cdf-0cac-446c-8cdf-a43a40004f76", - "name": "music_player_control.resume", - "auto": true, - "contexts": [ - "music-player-control" - ], - "responses": [ - { - "resetContexts": false, - "action": "music_player_control.resume", - "affectedContexts": [ - { - "name": "music-player-control", - "parameters": {}, - "lifespan": 3 - } - ], - "parameters": [], - "messages": [ - { - "type": 0, - "lang": "en", - "speech": [] - } - ], - "defaultResponsePlatforms": {}, - "speech": [] - } - ], - "priority": 500000, - "webhookUsed": false, - "webhookForSlotFilling": false, - "lastUpdate": 1496995044557, - "fallbackIntent": false, - "events": [] -} \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.resume_usersays_en.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.resume_usersays_en.json deleted file mode 100644 index 8d4a778d..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.resume_usersays_en.json +++ /dev/null @@ -1,156 +0,0 @@ -[ - { - "id": "8b89201d-0660-437d-8d7b-90cb186462b3", - "data": [ - { - "text": "resume playing", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "c508cdb6-06c0-4020-aa67-408d549d3ee8", - "data": [ - { - "text": "resume ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "fb726b0a-c1a8-4610-bc6e-c6bb6a99e064", - "data": [ - { - "text": "resume this song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "2ade82da-0276-4827-8049-b7c411af26b8", - "data": [ - { - "text": "continue playing", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "454bfeb5-d225-4ecc-929f-1754f825a9dc", - "data": [ - { - "text": "start", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " again", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "dfe058ca-d791-4a50-95b1-730531a40f10", - "data": [ - { - "text": "restart ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "47d17eda-673e-46c1-b610-f5e6abc2062a", - "data": [ - { - "text": "resume", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a92e3ecc-6a47-43dd-b150-c4e7af84263e", - "data": [ - { - "text": "continue", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "a87c1572-364c-4ad1-bbf5-34f52552f610", - "data": [ - { - "text": "continue the ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "6d32a82a-bcbf-43fb-97c2-6d7f0d6fb82a", - "data": [ - { - "text": "resume ", - "userDefined": false - }, - { - "text": "it", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - } -] \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.shuffle.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.shuffle.json deleted file mode 100644 index 1588ea16..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.shuffle.json +++ /dev/null @@ -1,37 +0,0 @@ -{ - "id": "ba64e2b5-1768-49e3-9134-b62627d17935", - "name": "music_player_control.shuffle", - "auto": true, - "contexts": [ - "music-player-control" - ], - "responses": [ - { - "resetContexts": false, - "action": "music_player_control.shuffle", - "affectedContexts": [ - { - "name": "music-player-control", - "parameters": {}, - "lifespan": 3 - } - ], - "parameters": [], - "messages": [ - { - "type": 0, - "lang": "en", - "speech": [] - } - ], - "defaultResponsePlatforms": {}, - "speech": [] - } - ], - "priority": 500000, - "webhookUsed": false, - "webhookForSlotFilling": false, - "lastUpdate": 1496995044563, - "fallbackIntent": false, - "events": [] -} \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.shuffle_usersays_en.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.shuffle_usersays_en.json deleted file mode 100644 index 192d9f8f..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.shuffle_usersays_en.json +++ /dev/null @@ -1,62 +0,0 @@ -[ - { - "id": "b1a766d4-6a1a-4f6a-a291-c0908b3e3c30", - "data": [ - { - "text": "shuffle mode on", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "db5f6da7-cab0-49ff-b152-88887f425e76", - "data": [ - { - "text": "turn on shuffle mode", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "3c1050f4-4758-4ce2-b887-d7fc31b1fc9e", - "data": [ - { - "text": "shuffle them", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "982e73e8-3e93-48a8-9063-7c46b123c5e4", - "data": [ - { - "text": "shuffle this playlist", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "f2a75ade-f319-4415-b754-95fb6c0614f7", - "data": [ - { - "text": "shuffle", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - } -] \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.skip_backward.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.skip_backward.json deleted file mode 100644 index 963e981b..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.skip_backward.json +++ /dev/null @@ -1,37 +0,0 @@ -{ - "id": "a097a69f-6573-4b40-8bac-f7274837583c", - "name": "music_player_control.skip_backward", - "auto": true, - "contexts": [ - "music-player-control" - ], - "responses": [ - { - "resetContexts": false, - "action": "music_player_control.skip_backward", - "affectedContexts": [ - { - "name": "music-player-control", - "parameters": {}, - "lifespan": 3 - } - ], - "parameters": [], - "messages": [ - { - "type": 0, - "lang": "en", - "speech": [] - } - ], - "defaultResponsePlatforms": {}, - "speech": [] - } - ], - "priority": 500000, - "webhookUsed": false, - "webhookForSlotFilling": false, - "lastUpdate": 1496995044561, - "fallbackIntent": false, - "events": [] -} \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.skip_backward_usersays_en.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.skip_backward_usersays_en.json deleted file mode 100644 index 04506d7f..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.skip_backward_usersays_en.json +++ /dev/null @@ -1,210 +0,0 @@ -[ - { - "id": "1d241e47-729a-4322-8138-21d4e5cfa0b9", - "data": [ - { - "text": "previous song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 1, - "updated": 0 - }, - { - "id": "521e7df1-d8c9-40e7-b7e2-9ba7b6f341d5", - "data": [ - { - "text": "skip to the back", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "e5801f56-fa54-4b4d-a4e9-032c1e9dcb35", - "data": [ - { - "text": "skip ", - "userDefined": false - }, - { - "text": "to", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " previous", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "6abd6674-fc27-4df9-b719-28a3d03e8106", - "data": [ - { - "text": "previous", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "66d1ab50-bde7-4b9e-8d6e-9be69570c674", - "data": [ - { - "text": "go back to previous", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "261689c1-64e2-4370-8fdd-fbc349f39702", - "data": [ - { - "text": "go back to previous song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "031f6eb7-0589-444f-96dd-4b3cf18370b9", - "data": [ - { - "text": "skip backward", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "03a5a9d6-ed0e-471c-a841-f2c99267aa5c", - "data": [ - { - "text": "go back to the previous station", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "01f250d9-6765-4d1b-a97b-eecaa0bfafd3", - "data": [ - { - "text": "go back", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "b74b7c71-59d0-42c8-ad57-3b60009a6805", - "data": [ - { - "text": "skip back", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "7f1995fb-6dd9-462e-b580-35d91c41f499", - "data": [ - { - "text": "previous station", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "014415b7-bb59-4c40-9d70-82bf410ff095", - "data": [ - { - "text": "skip to the previous song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "5d71fac5-626e-4e73-a904-a3f2500a05f3", - "data": [ - { - "text": "back", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "170d4bb0-23f8-4ad2-8ced-f03bee8c710a", - "data": [ - { - "text": "back", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "up", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " a ", - "userDefined": false - }, - { - "text": "track", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "1c1dcb40-4800-45a4-b7d5-49cc48e188d0", - "data": [ - { - "text": "go to previous", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - } -] \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.skip_forward.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.skip_forward.json deleted file mode 100644 index d3508a7e..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.skip_forward.json +++ /dev/null @@ -1,37 +0,0 @@ -{ - "id": "8e86a17e-f7fb-4aa0-b00f-78b46c9b8cf8", - "name": "music_player_control.skip_forward", - "auto": true, - "contexts": [ - "music-player-control" - ], - "responses": [ - { - "resetContexts": false, - "action": "music_player_control.skip_forward", - "affectedContexts": [ - { - "name": "music-player-control", - "parameters": {}, - "lifespan": 3 - } - ], - "parameters": [], - "messages": [ - { - "type": 0, - "lang": "en", - "speech": [] - } - ], - "defaultResponsePlatforms": {}, - "speech": [] - } - ], - "priority": 500000, - "webhookUsed": false, - "webhookForSlotFilling": false, - "lastUpdate": 1496995044580, - "fallbackIntent": false, - "events": [] -} \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.skip_forward_usersays_en.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.skip_forward_usersays_en.json deleted file mode 100644 index 90155939..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.skip_forward_usersays_en.json +++ /dev/null @@ -1,534 +0,0 @@ -[ - { - "id": "5c80d39d-cb85-4a53-bded-09b9e9d4ca00", - "data": [ - { - "text": "the ", - "userDefined": false - }, - { - "text": "next", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "bc434b0a-8426-4856-a150-8f1cad0628fc", - "data": [ - { - "text": "skip", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "4aeae22a-340a-4bb4-9cca-20e7d4f9245d", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "next", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "08268db3-f6d8-4b77-bd79-7dc2f94ffca5", - "data": [ - { - "text": "what\u0027", - "userDefined": false - }, - { - "text": "s", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " the ", - "userDefined": false - }, - { - "text": "next", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "one", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "91daa8ef-57fe-474b-ac86-f09dc6dcba4b", - "data": [ - { - "text": "go to the ", - "userDefined": false - }, - { - "text": "next", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "one", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "422be628-6763-43b3-af66-d270a46b5cb5", - "data": [ - { - "text": "now the ", - "userDefined": false - }, - { - "text": "next", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "one", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "9d6efcbe-481a-4bf0-b8eb-d22d75c85575", - "data": [ - { - "text": "go ", - "userDefined": false - }, - { - "text": "forward", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "b02e239b-3df5-48b6-8307-335fba6dee9f", - "data": [ - { - "text": "next", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 1, - "updated": 0 - }, - { - "id": "125380ba-2616-426f-8b40-6dda2d744a2f", - "data": [ - { - "text": "skip ", - "userDefined": false - }, - { - "text": "next", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "f9137299-0316-4fb7-b3f5-05c761b5c5f4", - "data": [ - { - "text": "skip ", - "userDefined": false - }, - { - "text": "to", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " the ", - "userDefined": false - }, - { - "text": "next", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "one", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "f0dacf73-31c1-413f-9041-c5824cd99933", - "data": [ - { - "text": "next", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "8a538320-42eb-42cf-8d7e-a5397e325851", - "data": [ - { - "text": "what\u0027", - "userDefined": false - }, - { - "text": "s", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " the ", - "userDefined": false - }, - { - "text": "next", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "song", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "19b42a16-1c43-4c21-9f69-664804d6fac1", - "data": [ - { - "text": "skip to ", - "userDefined": false - }, - { - "text": "next", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "d77ba8c7-d460-4069-818b-f062c8b5702c", - "data": [ - { - "text": "skip this ", - "userDefined": false - }, - { - "text": "song", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "7559ee2a-8d03-4019-9600-781208b8bfe0", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "next", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " track", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "c3a6a359-f3c2-45bd-845a-ecf8b34f1e68", - "data": [ - { - "text": "play ", - "userDefined": false - }, - { - "text": "the", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "next", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "06afa98e-cd51-45dc-a659-33dbb4f68adf", - "data": [ - { - "text": "play the ", - "userDefined": false - }, - { - "text": "next", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "one", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "d7b33d22-3c4b-4226-a4cf-299e53e15fb4", - "data": [ - { - "text": "play another ", - "userDefined": false - }, - { - "text": "one", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "ccfea9da-87d5-4396-abb5-2227d6856c23", - "data": [ - { - "text": "the ", - "userDefined": false - }, - { - "text": "next", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " please", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "39c4c4a1-c046-49de-b9d0-6589ac53c460", - "data": [ - { - "text": "next", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "track", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "69071604-607f-4720-9849-5de4d0b0e6bb", - "data": [ - { - "text": "skip ", - "userDefined": false - }, - { - "text": "forward", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "3f4cdaef-35ae-4d9b-8eb1-81f97e751fe4", - "data": [ - { - "text": "what\u0027s", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "next", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "877b3fef-7517-4891-bcb3-c28fb580c7cc", - "data": [ - { - "text": "the", - "meta": "@sys.ignore", - "userDefined": false - }, - { - "text": " following song", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "3e5289fb-0a2b-4e00-a8eb-3f32bc4f581e", - "data": [ - { - "text": "go to the ", - "userDefined": false - }, - { - "text": "next", - "meta": "@sys.ignore", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "d6e2553f-668b-45f9-9b58-4eb554f3f4ad", - "data": [ - { - "text": "next", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " please", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - } -] \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.stop.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.stop.json deleted file mode 100644 index da25933c..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.stop.json +++ /dev/null @@ -1,37 +0,0 @@ -{ - "id": "13727a0e-f535-4e29-9d6f-1c33863a25d7", - "name": "music_player_control.stop", - "auto": true, - "contexts": [ - "music-player-control" - ], - "responses": [ - { - "resetContexts": false, - "action": "music_player_control.stop", - "affectedContexts": [ - { - "name": "music-player-control", - "parameters": {}, - "lifespan": 3 - } - ], - "parameters": [], - "messages": [ - { - "type": 0, - "lang": "en", - "speech": [] - } - ], - "defaultResponsePlatforms": {}, - "speech": [] - } - ], - "priority": 500000, - "webhookUsed": false, - "webhookForSlotFilling": false, - "lastUpdate": 1496995044566, - "fallbackIntent": false, - "events": [] -} \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.stop_usersays_en.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.stop_usersays_en.json deleted file mode 100644 index 06ec3780..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/intents/music_player_control.stop_usersays_en.json +++ /dev/null @@ -1,172 +0,0 @@ -[ - { - "id": "7e5bf1d5-3562-4c8f-a89a-21aa5e244c4e", - "data": [ - { - "text": "stop playing", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "f5edf560-d161-406e-9a58-07df60f1e6f8", - "data": [ - { - "text": "enough ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "d2914a06-fad6-4880-ba95-c66b0d06e939", - "data": [ - { - "text": "enough", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "75c6e6c6-d275-43a8-98c3-797b67fb7d23", - "data": [ - { - "text": "stop", - "userDefined": false - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "580ccb15-4f99-4796-99f8-487733ec0e74", - "data": [ - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "off", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "5e8bd1e2-d0f3-499f-b026-bc96fffd2329", - "data": [ - { - "text": "can you stop the ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "853e3b36-e604-441c-b3e2-adf15dfc0637", - "data": [ - { - "text": "stop the ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "3939fb30-219e-436b-97b3-151914b39b37", - "data": [ - { - "text": "stop", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "it", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "48c9c678-871d-4075-975b-6a3b6a175d4c", - "data": [ - { - "text": "could you ", - "userDefined": false - }, - { - "text": "stop", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - }, - { - "id": "9b351312-c262-40be-9dc0-732dafb17954", - "data": [ - { - "text": "turn off", - "meta": "@sys.ignore", - "userDefined": true - }, - { - "text": " ", - "userDefined": false - }, - { - "text": "music", - "meta": "@sys.ignore", - "userDefined": true - } - ], - "isTemplate": false, - "count": 0, - "updated": 0 - } -] \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/package.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/package.json deleted file mode 100644 index 688e9398..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Dialogflow/Spotify/package.json +++ /dev/null @@ -1,3 +0,0 @@ -{ - "version": "1.0.0" -} \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Rasa/Restaurant/corpus.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Rasa/Restaurant/corpus.json deleted file mode 100644 index af25cac5..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Rasa/Restaurant/corpus.json +++ /dev/null @@ -1,321 +0,0 @@ -{ - "rasa_nlu_data": { - "regex_features": [ - { - "name": "zipcode", - "pattern": "[0-9]{5}" - } - ], - "entity_synonyms": [ - { - "value": "chinese", - "synonyms": ["Chinese", "Chines", "chines"] - }, - { - "value": "vegetarian", - "synonyms": ["veggie", "vegg"] - } - ], - "common_examples": [ - { - "text": "hey", - "intent": "greet", - "entities": [] - }, - { - "text": "howdy", - "intent": "greet", - "entities": [] - }, - { - "text": "hey there", - "intent": "greet", - "entities": [] - }, - { - "text": "hello", - "intent": "greet", - "entities": [] - }, - { - "text": "hi", - "intent": "greet", - "entities": [] - }, - { - "text": "good morning", - "intent": "greet", - "entities": [] - }, - { - "text": "good evening", - "intent": "greet", - "entities": [] - }, - { - "text": "dear sir", - "intent": "greet", - "entities": [] - }, - { - "text": "yes", - "intent": "affirm", - "entities": [] - }, - { - "text": "yep", - "intent": "affirm", - "entities": [] - }, - { - "text": "yeah", - "intent": "affirm", - "entities": [] - }, - { - "text": "indeed", - "intent": "affirm", - "entities": [] - }, - { - "text": "that's right", - "intent": "affirm", - "entities": [] - }, - { - "text": "ok", - "intent": "affirm", - "entities": [] - }, - { - "text": "great", - "intent": "affirm", - "entities": [] - }, - { - "text": "right, thank you", - "intent": "affirm", - "entities": [] - }, - { - "text": "correct", - "intent": "affirm", - "entities": [] - }, - { - "text": "great choice", - "intent": "affirm", - "entities": [] - }, - { - "text": "sounds really good", - "intent": "affirm", - "entities": [] - }, - { - "text": "i'm looking for a place to eat", - "intent": "restaurant_search", - "entities": [] - }, - { - "text": "I want to grab lunch", - "intent": "restaurant_search", - "entities": [] - }, - { - "text": "I am searching for a dinner spot", - "intent": "restaurant_search", - "entities": [] - }, - { - "text": "i'm looking for a place in the north of town", - "intent": "restaurant_search", - "entities": [ - { - "start": 31, - "end": 36, - "value": "north", - "entity": "location" - } - ] - }, - { - "text": "show me chinese restaurants", - "intent": "restaurant_search", - "entities": [ - { - "start": 8, - "end": 15, - "value": "chinese", - "entity": "cuisine" - } - ] - }, - { - "text": "show me chines restaurants", - "intent": "restaurant_search", - "entities": [ - { - "start": 8, - "end": 14, - "value": "chinese", - "entity": "cuisine" - } - ] - }, - { - "text": "show me a mexican place in the centre", - "intent": "restaurant_search", - "entities": [ - { - "start": 31, - "end": 37, - "value": "centre", - "entity": "location" - }, - { - "start": 10, - "end": 17, - "value": "mexican", - "entity": "cuisine" - } - ] - }, - { - "text": "i am looking for an indian spot called olaolaolaolaolaola", - "intent": "restaurant_search", - "entities": [ - { - "start": 20, - "end": 26, - "value": "indian", - "entity": "cuisine" - } - ] - }, - { - "text": "search for restaurants", - "intent": "restaurant_search", - "entities": [] - }, - { - "text": "anywhere in the west", - "intent": "restaurant_search", - "entities": [ - { - "start": 16, - "end": 20, - "value": "west", - "entity": "location" - } - ] - }, - { - "text": "anywhere near 18328", - "intent": "restaurant_search", - "entities": [ - { - "start": 14, - "end": 19, - "value": "18328", - "entity": "location" - } - ] - }, - { - "text": "I am looking for asian fusion food", - "intent": "restaurant_search", - "entities": [ - { - "start": 17, - "end": 29, - "value": "asian fusion", - "entity": "cuisine" - } - ] - }, - { - "text": "I am looking a restaurant in 29432", - "intent": "restaurant_search", - "entities": [ - { - "start": 29, - "end": 34, - "value": "29432", - "entity": "location" - } - ] - }, - { - "text": "I am looking for mexican indian fusion", - "intent": "restaurant_search", - "entities": [ - { - "start": 17, - "end": 38, - "value": "mexican indian fusion", - "entity": "cuisine" - } - ] - }, - { - "text": "central indian restaurant", - "intent": "restaurant_search", - "entities": [ - { - "start": 0, - "end": 7, - "value": "central", - "entity": "location" - }, - { - "start": 8, - "end": 14, - "value": "indian", - "entity": "cuisine" - } - ] - }, - { - "text": "bye", - "intent": "goodbye", - "entities": [] - }, - { - "text": "goodbye", - "intent": "goodbye", - "entities": [] - }, - { - "text": "good bye", - "intent": "goodbye", - "entities": [] - }, - { - "text": "stop", - "intent": "goodbye", - "entities": [] - }, - { - "text": "end", - "intent": "goodbye", - "entities": [] - }, - { - "text": "farewell", - "intent": "goodbye", - "entities": [] - }, - { - "text": "Bye bye", - "intent": "goodbye", - "entities": [] - }, - { - "text": "have a good one", - "intent": "goodbye", - "entities": [] - } - ] - } -} diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Sebis/Chatbot/agent.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Sebis/Chatbot/agent.json deleted file mode 100644 index 622c13d3..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Sebis/Chatbot/agent.json +++ /dev/null @@ -1,4 +0,0 @@ -{ - "description": "NLU Evaluation Corpora", - "language": "en" - } \ No newline at end of file diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Sebis/Chatbot/corpus.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/Sebis/Chatbot/corpus.json deleted file mode 100644 index 6475d44c..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/Sebis/Chatbot/corpus.json +++ /dev/null @@ -1,4201 +0,0 @@ -{ - "name": "ChatbotCorpus", - "desc": "Visit https://github.com/sebischair/NLU-Evaluation-Corpora for more information", - "lang": "en", - "sentences": [ - { - "text": "i want to go marienplatz", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationDest", - "start": 4, - "stop": 4, - "text": "marienplatz" - } - ] - }, - { - "text": "when is the next train in muncher freiheit?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 7, - "text": "muncher freiheit" - } - ] - }, - { - "text": "when does the next u-bahn leaves from garching forschungszentrum?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 6, - "text": "u-bahn" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 9, - "stop": 10, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "from olympia einkaufszentrum to hauptbahnhof", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 1, - "stop": 2, - "text": "olympia einkaufszentrum" - }, - { - "entity": "StationDest", - "start": 4, - "stop": 4, - "text": "hauptbahnhof" - } - ] - }, - { - "text": "when is the next train from winterstraße 12 to kieferngarten", - "intent": "FindConnection", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 7, - "text": "winterstraße 12" - }, - { - "entity": "StationDest", - "start": 9, - "stop": 9, - "text": "kieferngarten" - } - ] - }, - { - "text": "when is the next rocket from winterstraße 12 to kieferngarte", - "intent": "FindConnection", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "rocket" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 7, - "text": "winterstraße 12" - }, - { - "entity": "StationDest", - "start": 9, - "stop": 9, - "text": "kieferngarte" - } - ] - }, - { - "text": "can you find a connection from garching to hauptbahnhof?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 8, - "text": "hauptbahnhof" - } - ] - }, - { - "text": "how to get from untere strassäcker 21 to fröttmaning", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 4, - "stop": 6, - "text": "untere strassäcker 21" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 8, - "text": "fröttmaning" - } - ] - }, - { - "text": "how i can get from marienplatz to garching", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "marienplatz" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "connection from boltzmannstraße to kieferngarten", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 2, - "stop": 2, - "text": "boltzmannstraße" - }, - { - "entity": "StationDest", - "start": 4, - "stop": 4, - "text": "kieferngarten" - } - ] - }, - { - "text": "how to get from bonner platz to freimann?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 4, - "stop": 5, - "text": "bonner platz" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "freimann" - } - ] - }, - { - "text": "when is the next s-bahn leaving at garching?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 6, - "text": "s-bahn" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 9, - "stop": 9, - "text": "garching" - } - ] - }, - { - "text": "how do i get from oez to hbf?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "oez" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "hbf" - } - ] - }, - { - "text": "how to get from winterstrasse 12 to fröttmaning", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 4, - "stop": 5, - "text": "winterstrasse 12" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "fröttmaning" - } - ] - }, - { - "text": "how do i get from garching forschungszentrum to pasing", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 6, - "text": "garching forschungszentrum" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 8, - "text": "pasing" - } - ] - }, - { - "text": "theresienstraße to assling", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 0, - "stop": 0, - "text": "theresienstraße" - }, - { - "entity": "StationDest", - "start": 2, - "stop": 2, - "text": "assling" - } - ] - }, - { - "text": "how can i get from theresienstraße to munich east?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "theresienstraße" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 8, - "text": "munich east" - } - ] - }, - { - "text": "when does the next bus starts from garching?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "from quiddestraße to garching?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 1, - "stop": 1, - "text": "quiddestraße" - }, - { - "entity": "StationDest", - "start": 3, - "stop": 3, - "text": "garching" - } - ] - }, - { - "text": "can you find a connection from kurt-eisner-straße to garching forschungszentrum?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 6, - "stop": 8, - "text": "kurt-eisner-straße" - }, - { - "entity": "StationDest", - "start": 10, - "stop": 11, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "can you find a connection from quiddestraße to garching forschungszentrum?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "quiddestraße" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 9, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "when does the next train leaves at garching?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "from hauptbahnhof to garching?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 1, - "stop": 1, - "text": "hauptbahnhof" - }, - { - "entity": "StationDest", - "start": 3, - "stop": 3, - "text": "garching" - } - ] - }, - { - "text": "how can i get to glockenbachviertel from garching forschungszentrum?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 7, - "stop": 8, - "text": "garching forschungszentrum" - }, - { - "entity": "StationDest", - "start": 5, - "stop": 5, - "text": "glockenbachviertel" - } - ] - }, - { - "text": "how i can get from garching to nordfriedhof", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "nordfriedhof" - } - ] - }, - { - "text": "how can i get to glockenbachviertel from garching forschungszentrum?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 7, - "stop": 8, - "text": "garching forschungszentrum" - }, - { - "entity": "StationDest", - "start": 5, - "stop": 5, - "text": "glockenbachviertel" - } - ] - }, - { - "text": "when is the next train leaving in garching forschungszentrum", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 8, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "how can i get from moosach to quiddestraße?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "moosach" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "quiddestraße" - } - ] - }, - { - "text": "how can i get from moosach to poccistraße?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "moosach" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "poccistraße" - } - ] - }, - { - "text": "how can i get from kurt-eisner-straße to garching forschungszentrum?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "kurt-eisner-straße" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 8, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "how can i get from moosach to quiddestraße?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "moosach" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "quiddestraße" - } - ] - }, - { - "text": "how can i get from moosach to odeonsplatz?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "moosach" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "odeonsplatz" - } - ] - }, - { - "text": "when does the next bus starts at garching?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "what's the shortest way from quiddestraße to odeonsplatz?", - "intent": "FindConnection", - "entities": [ - { - "entity": "Criterion", - "start": 4, - "stop": 4, - "text": "shortest" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "quiddestraße" - }, - { - "entity": "StationDest", - "start": 9, - "stop": 9, - "text": "odeonsplatz" - } - ] - }, - { - "text": "when is the next bus from ostbahnhof", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "ostbahnhof" - } - ] - }, - { - "text": "how i can get from garching to neuperlach sued", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 8, - "text": "neuperlach sued" - } - ] - }, - { - "text": "when is the next train in munchner freiheit?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 7, - "text": "munchner freiheit" - } - ] - }, - { - "text": "how i can get from marienplatz to garching?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "marienplatz" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "how do i get from poccistraße to laim", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "poccistraße" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "laim" - } - ] - }, - { - "text": "i want to go garching from marienplatz", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "marienplatz" - }, - { - "entity": "StationDest", - "start": 4, - "stop": 4, - "text": "garching" - } - ] - }, - { - "text": "how i can get from marienplatz to garching?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "marienplatz" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "how can i get from hauptbahnhof to odeonsplatz", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "hauptbahnhof" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "odeonsplatz" - } - ] - }, - { - "text": "prinzregentenplatz to rotkreuzplatz", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 0, - "stop": 0, - "text": "prinzregentenplatz" - }, - { - "entity": "StationDest", - "start": 2, - "stop": 2, - "text": "rotkreuzplatz" - } - ] - }, - { - "text": "i want to go to garching from marienplatz", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "marienplatz" - }, - { - "entity": "StationDest", - "start": 5, - "stop": 5, - "text": "garching" - } - ] - }, - { - "text": "next train from garching", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Criterion", - "start": 0, - "stop": 0, - "text": "next" - }, - { - "entity": "Vehicle", - "start": 1, - "stop": 1, - "text": "train" - }, - { - "entity": "StationStart", - "start": 3, - "stop": 3, - "text": "garching" - } - ] - }, - { - "text": "from prinzregentenplatz to rotkreuzplatz", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 1, - "stop": 1, - "text": "prinzregentenplatz" - }, - { - "entity": "StationDest", - "start": 3, - "stop": 3, - "text": "rotkreuzplatz" - } - ] - }, - { - "text": "when is the next subway from garching forschungszentrum", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "subway" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 7, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "from garching to klinikum", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 1, - "stop": 1, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 3, - "stop": 3, - "text": "klinikum" - } - ] - }, - { - "text": "from garching foschungszentrum to odeonsplatz", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 1, - "stop": 2, - "text": "garching foschungszentrum" - }, - { - "entity": "StationDest", - "start": 4, - "stop": 4, - "text": "odeonsplatz" - } - ] - }, - { - "text": "next bus in garching", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 1, - "stop": 1, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 0, - "stop": 0, - "text": "next" - }, - { - "entity": "StationStart", - "start": 3, - "stop": 3, - "text": "garching" - } - ] - }, - { - "text": "when does the train leaving in garching forschungszentrum", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 3, - "stop": 3, - "text": "train" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 7, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "next subway from garching forschungszentrum", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Criterion", - "start": 0, - "stop": 0, - "text": "next" - }, - { - "entity": "Vehicle", - "start": 1, - "stop": 1, - "text": "subway" - }, - { - "entity": "StationStart", - "start": 3, - "stop": 4, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "tell me the next bus from garching", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "garching" - } - ] - }, - { - "text": "next bus from garching, please.", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 1, - "stop": 1, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 0, - "stop": 0, - "text": "next" - }, - { - "entity": "StationStart", - "start": 3, - "stop": 3, - "text": "garching" - } - ] - }, - { - "text": "next bus from garching", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 1, - "stop": 1, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 0, - "stop": 0, - "text": "next" - }, - { - "entity": "StationStart", - "start": 3, - "stop": 3, - "text": "garching" - } - ] - }, - { - "text": "next bus from central station", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 1, - "stop": 1, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 0, - "stop": 0, - "text": "next" - }, - { - "entity": "StationStart", - "start": 3, - "stop": 4, - "text": "central station" - } - ] - }, - { - "text": "from garching to marienplatz", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 1, - "stop": 1, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 3, - "stop": 3, - "text": "marienplatz" - } - ] - }, - { - "text": "next bus from garching.", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 1, - "stop": 1, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 0, - "stop": 0, - "text": "next" - }, - { - "entity": "StationStart", - "start": 3, - "stop": 3, - "text": "garching" - } - ] - }, - { - "text": "connection from garching to hauptbahnhof?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 2, - "stop": 2, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 4, - "stop": 4, - "text": "hauptbahnhof" - } - ] - }, - { - "text": "when does the next bus departs from garching?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "find connection from hauptbahnhof to odeonsplatz", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 3, - "stop": 3, - "text": "hauptbahnhof" - }, - { - "entity": "StationDest", - "start": 5, - "stop": 5, - "text": "odeonsplatz" - } - ] - }, - { - "text": "when does the next u-bahn departs at garching forschungszentrum?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 6, - "text": "u-bahn" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 9, - "stop": 10, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "when does the next u-bahn departs at garching?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 6, - "text": "u-bahn" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 9, - "stop": 9, - "text": "garching" - } - ] - }, - { - "text": "when does the next subway departs at garching", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "subway" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "when is the next train in garching?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "garching" - } - ] - }, - { - "text": "how to get from münchner freiheit to garching?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 4, - "stop": 5, - "text": "münchner freiheit" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "implerstraße to ostbahnhof", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 0, - "stop": 0, - "text": "implerstraße" - }, - { - "entity": "StationDest", - "start": 2, - "stop": 2, - "text": "ostbahnhof" - } - ] - }, - { - "text": "how can i get from hauptbahnhof to odeonsplatz?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "hauptbahnhof" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "odeonsplatz" - } - ] - }, - { - "text": "how can i go from garching forschungszentrum to prinzregentenplatz", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 6, - "text": "garching forschungszentrum" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 8, - "text": "prinzregentenplatz" - } - ] - }, - { - "text": "how can i get from mangfallplatz to garching", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "mangfallplatz" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "how can i get to hohenlindenerstraße", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationDest", - "start": 5, - "stop": 5, - "text": "hohenlindenerstraße" - } - ] - }, - { - "text": "harthaus to hackerbrücke", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 0, - "stop": 0, - "text": "harthaus" - }, - { - "entity": "StationDest", - "start": 2, - "stop": 2, - "text": "hackerbrücke" - } - ] - }, - { - "text": "how can i get from feldmoching to garching forschungszentrum?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "feldmoching" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 8, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "from marienplatz to petershausen", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 1, - "stop": 1, - "text": "marienplatz" - }, - { - "entity": "StationDest", - "start": 3, - "stop": 3, - "text": "petershausen" - } - ] - }, - { - "text": "when is the train from garching to marienplatz", - "intent": "FindConnection", - "entities": [ - { - "entity": "Vehicle", - "start": 3, - "stop": 3, - "text": "train" - }, - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "marienplatz" - } - ] - }, - { - "text": "neufahrn to garching", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 0, - "stop": 0, - "text": "neufahrn" - }, - { - "entity": "StationDest", - "start": 2, - "stop": 2, - "text": "garching" - } - ] - }, - { - "text": "how can i get from mangfallplatz to garching", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "mangfallplatz" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "how can i get to hohenlindenerstr", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationDest", - "start": 5, - "stop": 5, - "text": "hohenlindenerstr" - } - ] - }, - { - "text": "when is the next bus from garching forschungzentrum", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 7, - "text": "garching forschungzentrum" - } - ] - }, - { - "text": "how do i get from spitzingplatz to poccistraße?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "spitzingplatz" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "poccistraße" - } - ] - }, - { - "text": "how can i get from garching forschungszentrum to marienplatz", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 6, - "text": "garching forschungszentrum" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 8, - "text": "marienplatz" - } - ] - }, - { - "text": "how can i get from klinkum to marienplatz?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "klinkum" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "marienplatz" - } - ] - }, - { - "text": "how to get from alte heide to marienplatz", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 4, - "stop": 5, - "text": "alte heide" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "marienplatz" - } - ] - }, - { - "text": "next train from muenchen freicheit", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 1, - "stop": 1, - "text": "train" - }, - { - "entity": "Criterion", - "start": 0, - "stop": 0, - "text": "next" - }, - { - "entity": "StationStart", - "start": 3, - "stop": 4, - "text": "muenchen freicheit" - } - ] - }, - { - "text": "depart in garching, i assume", - "intent": "DepartureTime", - "entities": [ - { - "entity": "StationStart", - "start": 2, - "stop": 2, - "text": "garching" - } - ] - }, - { - "text": "when does the next u-bahn depart at garching?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 6, - "text": "u-bahn" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 9, - "stop": 9, - "text": "garching" - } - ] - }, - { - "text": "the next bus from garching forschungzentrum", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 2, - "stop": 2, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 1, - "stop": 1, - "text": "next" - }, - { - "entity": "StationStart", - "start": 4, - "stop": 5, - "text": "garching forschungzentrum" - } - ] - }, - { - "text": "when is the next train in alte heide?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 7, - "text": "alte heide" - } - ] - }, - { - "text": "or depart from garching", - "intent": "DepartureTime", - "entities": [ - { - "entity": "StationStart", - "start": 3, - "stop": 3, - "text": "garching" - } - ] - }, - { - "text": "hello munich city bot! how do i get from münchner freiheit to scheidplatz?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 10, - "stop": 11, - "text": "münchner freiheit" - }, - { - "entity": "StationDest", - "start": 13, - "stop": 13, - "text": "scheidplatz" - } - ] - }, - { - "text": "how can i get from garching forschungszentrum to prinzregentenplatz", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 6, - "text": "garching forschungszentrum" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 8, - "text": "prinzregentenplatz" - } - ] - }, - { - "text": "how can i get from neufahrn to garching", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "neufahrn" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "take me to the airport", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationDest", - "start": 4, - "stop": 4, - "text": "airport" - } - ] - }, - { - "text": "when does the next u6 leave from garching forschungszentrum", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Line", - "start": 4, - "stop": 4, - "text": "u6" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 8, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "how i can get from munchner freiheit to nordfriedhof?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 6, - "text": "munchner freiheit" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 8, - "text": "nordfriedhof" - } - ] - }, - { - "text": "from harthaus to hackerbrücke", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 1, - "stop": 1, - "text": "harthaus" - }, - { - "entity": "StationDest", - "start": 3, - "stop": 3, - "text": "hackerbrücke" - } - ] - }, - { - "text": "when is the train from garching", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 3, - "stop": 3, - "text": "train" - }, - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "garching" - } - ] - }, - { - "text": "what is the next train from münchner freiheit", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 7, - "text": "münchner freiheit" - } - ] - }, - { - "text": "how can i get from theresienstrasse to garching forschungszentrum", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "theresienstrasse" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 8, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "how can i get from münchner freiheit to odeonsplatz", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 6, - "text": "münchner freiheit" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 8, - "text": "odeonsplatz" - } - ] - }, - { - "text": "from garching to hauptbahnhof", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 1, - "stop": 1, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 3, - "stop": 3, - "text": "hauptbahnhof" - } - ] - }, - { - "text": "how can i get from garching to odeonsplatz", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "odeonsplatz" - } - ] - }, - { - "text": "start: neufahrn end:garching", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 2, - "stop": 2, - "text": "neufahrn" - }, - { - "entity": "StationDest", - "start": 5, - "stop": 5, - "text": "garching" - } - ] - }, - { - "text": "how can i get from studentenstadt to garching", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "studentenstadt" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "when is the next bus from garching", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "garching" - } - ] - }, - { - "text": "take me from hauptbahnhof to odeonsplatz", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 3, - "stop": 3, - "text": "hauptbahnhof" - }, - { - "entity": "StationDest", - "start": 5, - "stop": 5, - "text": "odeonsplatz" - } - ] - }, - { - "text": "what's the shortest connection between quiddestraße and odeonsplatz?", - "intent": "FindConnection", - "entities": [ - { - "entity": "Criterion", - "start": 4, - "stop": 4, - "text": "shortest" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "quiddestraße" - }, - { - "entity": "StationDest", - "start": 9, - "stop": 9, - "text": "odeonsplatz" - } - ] - }, - { - "text": "what is the cheapest connection between quiddestraße and hauptbahnhof?", - "intent": "FindConnection", - "entities": [ - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "cheapest" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "quiddestraße" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 8, - "text": "hauptbahnhof" - } - ] - }, - { - "text": "what's the shortest way between hauptbahnhof and odeonsplatz?", - "intent": "FindConnection", - "entities": [ - { - "entity": "Criterion", - "start": 4, - "stop": 4, - "text": "shortest" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "hauptbahnhof" - }, - { - "entity": "StationDest", - "start": 9, - "stop": 9, - "text": "odeonsplatz" - } - ] - }, - { - "text": "how can i get from garching to münchner freiheit as fast as possible?", - "intent": "FindConnection", - "entities": [ - { - "entity": "Criterion", - "start": 10, - "stop": 10, - "text": "fast" - }, - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 8, - "text": "münchner freiheit" - } - ] - }, - { - "text": "what's the cheapest way from neuperlach süd to lehel?", - "intent": "FindConnection", - "entities": [ - { - "entity": "Criterion", - "start": 4, - "stop": 4, - "text": "cheapest" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 8, - "text": "neuperlach süd" - }, - { - "entity": "StationDest", - "start": 10, - "stop": 10, - "text": "lehel" - } - ] - }, - { - "text": "how can i get from neuperlach zentrum to karlsplatz as fast as possible?", - "intent": "FindConnection", - "entities": [ - { - "entity": "Criterion", - "start": 10, - "stop": 10, - "text": "fast" - }, - { - "entity": "StationStart", - "start": 5, - "stop": 6, - "text": "neuperlach zentrum" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 8, - "text": "karlsplatz" - } - ] - }, - { - "text": "could you give me the fastest connection between brudermühlstraße and alte heide?", - "intent": "FindConnection", - "entities": [ - { - "entity": "Criterion", - "start": 5, - "stop": 5, - "text": "fastest" - }, - { - "entity": "StationStart", - "start": 8, - "stop": 8, - "text": "brudermühlstraße" - }, - { - "entity": "StationDest", - "start": 10, - "stop": 11, - "text": "alte heide" - } - ] - }, - { - "text": "is there a train from neuperlach zentrum to garching at 3 pm?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 6, - "text": "neuperlach zentrum" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 8, - "text": "garching" - } - ] - }, - { - "text": "can you find a connection from olympiazentrum to lehel at 2 pm?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "olympiazentrum" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 8, - "text": "lehel" - } - ] - }, - { - "text": "i need a connection from harras to karl-preis-platz at 8 am.", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "harras" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 11, - "text": "karl-preis-platz" - } - ] - }, - { - "text": "in need to be at hauptbahnhof at 1 pm, can you search a connection from garching forschungszentrum?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 16, - "stop": 17, - "text": "garching forschungszentrum" - }, - { - "entity": "StationDest", - "start": 5, - "stop": 5, - "text": "hauptbahnhof" - } - ] - }, - { - "text": "i need to be in garching at 9", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationDest", - "start": 5, - "stop": 5, - "text": "garching" - } - ] - }, - { - "text": "can i take a bus from quiddestraße to hauptbahnhof?", - "intent": "FindConnection", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "bus" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "quiddestraße" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 8, - "text": "hauptbahnhof" - } - ] - }, - { - "text": "can you find the shortest way from moosfeld to milbertshofen?", - "intent": "FindConnection", - "entities": [ - { - "entity": "Criterion", - "start": 4, - "stop": 4, - "text": "shortest" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "moosfeld" - }, - { - "entity": "StationDest", - "start": 9, - "stop": 9, - "text": "milbertshofen" - } - ] - }, - { - "text": "how can i get to neuperlach süd from garching forschungszentrum?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 8, - "stop": 9, - "text": "garching forschungszentrum" - }, - { - "entity": "StationDest", - "start": 5, - "stop": 6, - "text": "neuperlach süd" - } - ] - }, - { - "text": "can you find a bus from quiddestraße to lehel?", - "intent": "FindConnection", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "bus" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "quiddestraße" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 8, - "text": "lehel" - } - ] - }, - { - "text": "is there a tram from karlsplatz to lehel?", - "intent": "FindConnection", - "entities": [ - { - "entity": "Vehicle", - "start": 3, - "stop": 3, - "text": "tram" - }, - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "karlsplatz" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "lehel" - } - ] - }, - { - "text": "is there a bus from garching to moosach at around 5?", - "intent": "FindConnection", - "entities": [ - { - "entity": "Vehicle", - "start": 3, - "stop": 3, - "text": "bus" - }, - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "moosach" - } - ] - }, - { - "text": "is there a bus from odeonsplatz to hauptbahnhof at 3 pm?", - "intent": "FindConnection", - "entities": [ - { - "entity": "Vehicle", - "start": 3, - "stop": 3, - "text": "bus" - }, - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "odeonsplatz" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "hauptbahnhof" - } - ] - }, - { - "text": "can you tell me the cheapest way from garching forschungszentrum to quiddestraße?", - "intent": "FindConnection", - "entities": [ - { - "entity": "Criterion", - "start": 5, - "stop": 5, - "text": "cheapest" - }, - { - "entity": "StationStart", - "start": 8, - "stop": 9, - "text": "garching forschungszentrum" - }, - { - "entity": "StationDest", - "start": 11, - "stop": 11, - "text": "quiddestraße" - } - ] - }, - { - "text": "how can i get to quiddestraße?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationDest", - "start": 5, - "stop": 5, - "text": "quiddestraße" - } - ] - }, - { - "text": "when does the next bus leaves from hauptbahnhof?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "hauptbahnhof" - } - ] - }, - { - "text": "how can i get from garching to hauptbahnhof?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "hauptbahnhof" - } - ] - }, - { - "text": "how can i get from kurt-eisner-straße to garching?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 9, - "text": "kurt-eisner-straße" - }, - { - "entity": "StationDest", - "start": 11, - "stop": 11, - "text": "garching" - } - ] - }, - { - "text": "when the next train in garching,forschungszentrum is leaving?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 3, - "stop": 3, - "text": "train" - }, - { - "entity": "Criterion", - "start": 2, - "stop": 2, - "text": "next" - }, - { - "entity": "StationStart", - "start": 5, - "stop": 7, - "text": "garching,forschungszentrum" - } - ] - }, - { - "text": "what is the next connection from garching forschungszentrum to odeonsplatz?", - "intent": "FindConnection", - "entities": [ - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 7, - "text": "garching forschungszentrum" - }, - { - "entity": "StationDest", - "start": 9, - "stop": 9, - "text": "odeonsplatz" - } - ] - }, - { - "text": "how can i get from mossach to garching forschungszentrum?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "mossach" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 8, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "how can i get from garching forschungszentrum to odeonsplatz?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 6, - "text": "garching forschungszentrum" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 8, - "text": "odeonsplatz" - } - ] - }, - { - "text": "how can i get from garching, forschungszentrum to odeonsplatz?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 7, - "text": "garching, forschungszentrum" - }, - { - "entity": "StationDest", - "start": 9, - "stop": 9, - "text": "odeonsplatz" - } - ] - }, - { - "text": "how can i get from garching forschungszentrum to kurt-eisner-straße?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 6, - "text": "garching forschungszentrum" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 12, - "text": "kurt-eisner-straße" - } - ] - }, - { - "text": "how can i get to boltzmannstraße from quiddestraße?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "quiddestraße" - }, - { - "entity": "StationDest", - "start": 5, - "stop": 5, - "text": "boltzmannstraße" - } - ] - }, - { - "text": "when does the next train departs from quiddestraße?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "quiddestraße" - } - ] - }, - { - "text": "when the next train in garching forschungszentrum is leaving?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 3, - "stop": 3, - "text": "train" - }, - { - "entity": "Criterion", - "start": 2, - "stop": 2, - "text": "next" - }, - { - "entity": "StationStart", - "start": 5, - "stop": 6, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "when is the next u6 leaving from garching?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Line", - "start": 4, - "stop": 4, - "text": "u6" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "when does the next train leave from garching forschungszentrum", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 8, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "when is the next u6?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Line", - "start": 4, - "stop": 4, - "text": "u6" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - } - ] - }, - { - "text": "when is the next subway leaving from garching?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "subway" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "when the next train in garching is leaving?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 3, - "stop": 3, - "text": "train" - }, - { - "entity": "Criterion", - "start": 2, - "stop": 2, - "text": "next" - }, - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "garching" - } - ] - }, - { - "text": "when is the next train leaving in garching", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "when does the next train leaves from odeonsplatz?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "odeonsplatz" - } - ] - }, - { - "text": "when does the next train leaves from quiddestraße?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "quiddestraße" - } - ] - }, - { - "text": "when is the next train", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - } - ] - }, - { - "text": "when does the next bus leaves at garching forschungszentrum?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 8, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "when does the next train leaves?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - } - ] - }, - { - "text": "when does the next bus leave in garching?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "when does the next s-bahn leaves from hauptbahnhof?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 6, - "text": "s-bahn" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 9, - "stop": 9, - "text": "hauptbahnhof" - } - ] - }, - { - "text": "when does the next subway departes from odeonsplatz?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "subway" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "odeonsplatz" - } - ] - }, - { - "text": "show me the next bus from garching!", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "garching" - } - ] - }, - { - "text": "when does the next tram starts from hauptbahnhof?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "tram" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "hauptbahnhof" - } - ] - }, - { - "text": "when will the next u-bahn depart from garching forschungszentrum?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 6, - "text": "u-bahn" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 9, - "stop": 10, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "show me the next bus from michaelibad.", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "michaelibad" - } - ] - }, - { - "text": "when does the next train starts at sendlinger tor?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 8, - "text": "sendlinger tor" - } - ] - }, - { - "text": "hey bot, when does the next bus starts at garching?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 7, - "stop": 7, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 6, - "stop": 6, - "text": "next" - }, - { - "entity": "StationStart", - "start": 10, - "stop": 10, - "text": "garching" - } - ] - }, - { - "text": "when does the next bus leaves at garching?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "when is the bus from quiddestraße?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 3, - "stop": 3, - "text": "bus" - }, - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "quiddestraße" - } - ] - }, - { - "text": "when can i get a bus at mariahilfplatz?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 5, - "stop": 5, - "text": "bus" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "mariahilfplatz" - } - ] - }, - { - "text": "when does the next bus leaves at romanplatz?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "romanplatz" - } - ] - }, - { - "text": "when does the bus to röblingweg starts?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 3, - "stop": 3, - "text": "bus" - }, - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "röblingweg" - } - ] - }, - { - "text": "next bus from quiddestraße?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 1, - "stop": 1, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 0, - "stop": 0, - "text": "next" - }, - { - "entity": "StationStart", - "start": 3, - "stop": 3, - "text": "quiddestraße" - } - ] - }, - { - "text": "when is the next bus leaving from garching?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "when is the train leaving in garching", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 3, - "stop": 3, - "text": "train" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "garching" - } - ] - }, - { - "text": "when is the train leaving in garching?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 3, - "stop": 3, - "text": "train" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "garching" - } - ] - }, - { - "text": "how can i get from garching to odeonsplatz?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "odeonsplatz" - } - ] - }, - { - "text": "when is adrians next subway leaving at garching forschungszentrum?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "subway" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 8, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "how can i get from olympiazentrum to hauptbahnhof?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "olympiazentrum" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "hauptbahnhof" - } - ] - }, - { - "text": "how can i get from quiddestraße to boltzmannstraße?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "quiddestraße" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "boltzmannstraße" - } - ] - }, - { - "text": "how can i get from moosach to garching forschungszentrum?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "moosach" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 8, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "can you give me a connection from garching to odeonsplatz?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 9, - "stop": 9, - "text": "odeonsplatz" - } - ] - }, - { - "text": "when is the next train from garching", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "garching" - } - ] - }, - { - "text": "when comes the next train", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - } - ] - }, - { - "text": "when is the next train in nordfriedhof", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "nordfriedhof" - } - ] - }, - { - "text": "when does the next train come at garching forschungszentrum", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 8, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "when is the next train from nordfriedhof to garching forschungszentrum", - "intent": "FindConnection", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "nordfriedhof" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 9, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "i want to travel from garching to odeonsplatz?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "odeonsplatz" - } - ] - }, - { - "text": "how can i get to sendlinger tor?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationDest", - "start": 5, - "stop": 6, - "text": "sendlinger tor" - } - ] - }, - { - "text": "how do i get to untere straussäcker?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationDest", - "start": 5, - "stop": 6, - "text": "untere straussäcker" - } - ] - }, - { - "text": "how can i get from garching to garching?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "how can i get from garching to sendlinger tor?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 8, - "text": "sendlinger tor" - } - ] - }, - { - "text": "how can i get from garchingto garching?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "garchingto" - }, - { - "entity": "StationDest", - "start": 6, - "stop": 6, - "text": "garching" - } - ] - }, - { - "text": "when is the next train from garching", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "garching" - } - ] - }, - { - "text": "how do i get from marienplatz zu garching", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "marienplatz" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "garching" - } - ] - }, - { - "text": "how can i get to milbertshofen from garching?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 7, - "stop": 7, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 5, - "stop": 5, - "text": "milbertshofen" - } - ] - }, - { - "text": "when is the next train to garching", - "intent": "FindConnection", - "entities": [ - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "StationDest", - "start": 6, - "stop": 6, - "text": "garching" - } - ] - }, - { - "text": "how can i get from garching to milbertshofen?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "milbertshofen" - } - ] - }, - { - "text": "when does the next rocket leaves from garching forschungszentrum?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "rocket" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 8, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "connection from untere straßäcker 21 to kieferngarten", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 2, - "stop": 4, - "text": "untere straßäcker 21" - }, - { - "entity": "StationDest", - "start": 6, - "stop": 6, - "text": "kieferngarten" - } - ] - }, - { - "text": "how to get from untere strassäcker 21 to frötmaning", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 4, - "stop": 6, - "text": "untere strassäcker 21" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 8, - "text": "frötmaning" - } - ] - }, - { - "text": "how to get from untere strassaecker 21 to frötmaning", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 4, - "stop": 6, - "text": "untere strassaecker 21" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 8, - "text": "frötmaning" - } - ] - }, - { - "text": "when is the next train from untere straßaecker 21 to kieferngarten", - "intent": "FindConnection", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 8, - "text": "untere straßaecker 21" - }, - { - "entity": "StationDest", - "start": 10, - "stop": 10, - "text": "kieferngarten" - } - ] - }, - { - "text": "when is the next train from untere straßaecker 21, garching to kieferngarten", - "intent": "FindConnection", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 7, - "stop": 10, - "text": "straßaecker 21, garching" - }, - { - "entity": "StationDest", - "start": 12, - "stop": 12, - "text": "kieferngarten" - } - ] - }, - { - "text": "from garching to perlach", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 1, - "stop": 1, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 3, - "stop": 3, - "text": "perlach" - } - ] - }, - { - "text": "how to get from garching to perlach?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 4, - "stop": 4, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 6, - "stop": 6, - "text": "perlach" - } - ] - }, - { - "text": "how to get from bonnerplatz to freimann", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 4, - "stop": 4, - "text": "bonnerplatz" - }, - { - "entity": "StationDest", - "start": 6, - "stop": 6, - "text": "freimann" - } - ] - }, - { - "text": "when is the next train in nordfriedhof?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 6, - "text": "nordfriedhof" - } - ] - }, - { - "text": "when is the next train in münchner freiheit?", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "train" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 7, - "text": "münchner freiheit" - } - ] - }, - { - "text": "connection from hauptbahnhof to odeonsplatz?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 2, - "stop": 2, - "text": "hauptbahnhof" - }, - { - "entity": "StationDest", - "start": 4, - "stop": 4, - "text": "odeonsplatz" - } - ] - }, - { - "text": "how do i get from olympia einkaufszentrum to hauptbahnhof?", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 6, - "text": "olympia einkaufszentrum" - }, - { - "entity": "StationDest", - "start": 8, - "stop": 8, - "text": "hauptbahnhof" - } - ] - }, - { - "text": "when is the next bus in garching forschungszentrum", - "intent": "DepartureTime", - "entities": [ - { - "entity": "Vehicle", - "start": 4, - "stop": 4, - "text": "bus" - }, - { - "entity": "Criterion", - "start": 3, - "stop": 3, - "text": "next" - }, - { - "entity": "StationStart", - "start": 6, - "stop": 7, - "text": "garching forschungszentrum" - } - ] - }, - { - "text": "how can i get from garching to marienplatz", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 5, - "stop": 5, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 7, - "stop": 7, - "text": "marienplatz" - } - ] - }, - { - "text": "from garching to studentenstadt", - "intent": "FindConnection", - "entities": [ - { - "entity": "StationStart", - "start": 1, - "stop": 1, - "text": "garching" - }, - { - "entity": "StationDest", - "start": 3, - "stop": 3, - "text": "studentenstadt" - } - ] - } - ] -} diff --git a/BotSharp.WebHost/App_Data/DbInitializer/Agents/agents.json b/BotSharp.WebHost/App_Data/DbInitializer/Agents/agents.json deleted file mode 100644 index 4a3e46f4..00000000 --- a/BotSharp.WebHost/App_Data/DbInitializer/Agents/agents.json +++ /dev/null @@ -1,25 +0,0 @@ -[ - { - "Id": "6a9fd374-c43d-447a-97f2-f37540d0c725", - "Name": "Spotify", - "UserId": "8da9e1e0-42dc-420a-8016-79b04c1297d0", - "ClientAccessToken": "43a0f48e3f1e41da822092e7e699426b", - "DeveloperAccessToken": "cd1e4685c6a04d7db1f59e6853fd597b", - "Integrations": - [ - { - "Platform": "Facebook Messenger", - "VerifyToken": "spotify_music_bot", - "AccessToken": "EAAJym8gGQFMBAPnsxTw6rZBE2WVfYtCJeGkCQ2NZC3VbQd45SyUlXjjgUf1gAkCOWq7v0blxTb1xLZAeMAXYhQj3btcMlMO9YbG7StMyx8ussz5TnD1tjjIZCye5u66PZAuFxSyIPXtTCin8GPiJ19cYB8ZCyH3rr5sro7OxUSyAZDZD" - } - ] - }, - { - "Id": "bff7605c-3db5-44dc-9ba7-1c9be2832318", - "Name": "Chatbot", - "UserId": "8da9e1e0-42dc-420a-8016-79b04c1297d0", - "ClientAccessToken": "6ba8a06865944f14981ce18d229283f5", - "DeveloperAccessToken": "f12fbdb0da5a4616b18fa7582d32f6e3", - "Integrations": [] - } -] \ No newline at end of file diff --git a/BotSharp.WebHost/BotSharp.WebHost.csproj b/BotSharp.WebHost/BotSharp.WebHost.csproj index 2f15a870..bd2cd349 100644 --- a/BotSharp.WebHost/BotSharp.WebHost.csproj +++ b/BotSharp.WebHost/BotSharp.WebHost.csproj @@ -15,21 +15,33 @@ + + + + + + + + + + + + @@ -37,44 +49,6 @@ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - @@ -89,46 +63,8 @@ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - + + @@ -136,4 +72,8 @@ + + + + diff --git a/BotSharp.WebHost/Settings/bot.json b/BotSharp.WebHost/Settings/bot.json index c89584d5..584cf6e9 100644 --- a/BotSharp.WebHost/Settings/bot.json +++ b/BotSharp.WebHost/Settings/bot.json @@ -8,11 +8,10 @@ "Pipe": { "train": "BotSharpTokenizer, BotSharpTagger, CRFsuiteEntityRecognizer, FasttextClassifier", - "predict": "BotSharpTokenizer, CRFsuiteEntityRecognizer, WitAiEntityRecognizer, FasttextClassifier" + "predict": "BotSharpTokenizer, BotSharpTagger, CRFsuiteEntityRecognizer, FasttextClassifier" }, "BotSharpTagger": { - "dataDir": "D:\\Projects\\BotSharp.NLP\\Data" }, "CRFsuiteEntityRecognizer": { diff --git a/BotSharp.WebHost/Settings/config_jieba_mitie_sklearn.yml b/BotSharp.WebHost/Settings/config_jieba_mitie_sklearn.yml deleted file mode 100644 index 9368c2fa..00000000 --- a/BotSharp.WebHost/Settings/config_jieba_mitie_sklearn.yml +++ /dev/null @@ -1,11 +0,0 @@ -language: "zh" - -pipeline: -- name: "nlp_mitie" - model: "data/total_word_feature_extractor_zh.dat" -- name: "tokenizer_jieba" -- name: "ner_mitie" -- name: "ner_synonyms" -- name: "intent_entity_featurizer_regex" -- name: "intent_featurizer_mitie" -- name: "intent_classifier_sklearn" diff --git a/BotSharp.WebHost/Settings/config_mitie_sklearn.yml b/BotSharp.WebHost/Settings/config_mitie_sklearn.yml deleted file mode 100644 index 5cab1429..00000000 --- a/BotSharp.WebHost/Settings/config_mitie_sklearn.yml +++ /dev/null @@ -1,11 +0,0 @@ -language: "en" - -pipeline: -- name: "nlp_mitie" - model: "data/total_word_feature_extractor.dat" -- name: "tokenizer_mitie" -- name: "ner_mitie" -- name: "ner_synonyms" -- name: "intent_entity_featurizer_regex" -- name: "intent_featurizer_mitie" -- name: "intent_classifier_sklearn" \ No newline at end of file diff --git a/BotSharp.WebHost/Settings/config_spacy.yml b/BotSharp.WebHost/Settings/config_spacy.yml deleted file mode 100644 index bc12d3f5..00000000 --- a/BotSharp.WebHost/Settings/config_spacy.yml +++ /dev/null @@ -1,3 +0,0 @@ -language: "en" - -pipeline: "spacy_sklearn" \ No newline at end of file diff --git a/BotSharp.WebHost/Startup.cs b/BotSharp.WebHost/Startup.cs index e5359f55..5b9241fd 100644 --- a/BotSharp.WebHost/Startup.cs +++ b/BotSharp.WebHost/Startup.cs @@ -59,6 +59,7 @@ namespace BotSharp.WebHost var filePath = Path.Combine(PlatformServices.Default.Application.ApplicationBasePath, "BotSharp.RestApi.xml"); c.IncludeXmlComments(filePath); + c.OperationFilter(); }); // register platform dependency diff --git a/BotSharp.WebHost/SwaggerFileUploadOperation.cs b/BotSharp.WebHost/SwaggerFileUploadOperation.cs new file mode 100644 index 00000000..2e270330 --- /dev/null +++ b/BotSharp.WebHost/SwaggerFileUploadOperation.cs @@ -0,0 +1,30 @@ +using Swashbuckle.AspNetCore.Swagger; +using Swashbuckle.AspNetCore.SwaggerGen; +using System; +using System.Collections.Generic; +using System.Linq; +using System.Text; + +namespace BotSharp.WebHost +{ + public class SwaggerFileUploadOperation : IOperationFilter + { + public void Apply(Operation operation, OperationFilterContext context) + { + if (operation.OperationId == "V1AgentRestorePost") + { + operation.Parameters.Clear(); + + operation.Parameters.Add(new NonBodyParameter + { + Name = "uploadedFile", + In = "formData", + Description = "Upload Zip File， meta.json is the extra data for customized function.", + Required = true, + Type = "file" + }); + operation.Consumes.Add("multipart/form-data"); + } + } + } +} diff --git a/BotSharp.sln b/BotSharp.sln index 5fc4ff8b..0e04dc70 100644 --- a/BotSharp.sln +++ b/BotSharp.sln @@ -11,8 +11,6 @@ Project("{9A19103F-16F7-4668-BE54-9A1E7A4F7556}") = "BotSharp.WebHost", "BotShar EndProject Project("{9A19103F-16F7-4668-BE54-9A1E7A4F7556}") = "BotSharp.Core.UnitTest", "BotSharp.Core.UnitTest\BotSharp.Core.UnitTest.csproj", "{A31A6853-DFB8-477D-8F09-8E6E3D166102}" EndProject -Project("{9A19103F-16F7-4668-BE54-9A1E7A4F7556}") = "BotSharp.NLP", "..\BotSharp.NLP\BotSharp.NLP\BotSharp.NLP.csproj", "{01388132-B2F0-4760-8893-996B5E1ADCDE}" -EndProject Global GlobalSection(SolutionConfigurationPlatforms) = preSolution Debug|Any CPU = Debug|Any CPU @@ -53,14 +51,6 @@ Global {A31A6853-DFB8-477D-8F09-8E6E3D166102}.Release|Any CPU.Build.0 = Release|Any CPU {A31A6853-DFB8-477D-8F09-8E6E3D166102}.Release|x64.ActiveCfg = Release|x64 {A31A6853-DFB8-477D-8F09-8E6E3D166102}.Release|x64.Build.0 = Release|x64 - {01388132-B2F0-4760-8893-996B5E1ADCDE}.Debug|Any CPU.ActiveCfg = Debug|Any CPU - {01388132-B2F0-4760-8893-996B5E1ADCDE}.Debug|Any CPU.Build.0 = Debug|Any CPU - {01388132-B2F0-4760-8893-996B5E1ADCDE}.Debug|x64.ActiveCfg = Debug|x64 - {01388132-B2F0-4760-8893-996B5E1ADCDE}.Debug|x64.Build.0 = Debug|x64 - {01388132-B2F0-4760-8893-996B5E1ADCDE}.Release|Any CPU.ActiveCfg = Release|Any CPU - {01388132-B2F0-4760-8893-996B5E1ADCDE}.Release|Any CPU.Build.0 = Release|Any CPU - {01388132-B2F0-4760-8893-996B5E1ADCDE}.Release|x64.ActiveCfg = Release|x64 - {01388132-B2F0-4760-8893-996B5E1ADCDE}.Release|x64.Build.0 = Release|x64 EndGlobalSection GlobalSection(SolutionProperties) = preSolution HideSolutionNode = FALSE diff --git a/README.rst b/README.rst index 5eb4349b..748b0d03 100644 --- a/README.rst +++ b/README.rst @@ -24,69 +24,10 @@ Some Features Documents --------- -https://botsharp.readthedocs.io/en/latest +Read the docs: https://botsharp.readthedocs.io -https://github.com/Oceania2018/BotSharp/wiki +Github Wiki: https://github.com/Oceania2018/BotSharp/wiki -QUICK START ------------ -Building BotSharp -^^^^^^^^^^^^^^^^^ -Make sure the `Microsoft .NET Core`_ build environment is installed. -Building solution using dotnet CLI (preferred). - -:: - - PS D:\> git clone https://github.com/Oceania2018/BotSharp - PS D:\> cd BotSharp - PS D:\> dotnet build - -Install in docker container -^^^^^^^^^^^^^^^^^^^^^^^^^^^ -Make sure you've got `Docker`_ installed: - -:: - - PS D:\> git clone https://github.com/Oceania2018/BotSharp - PS D:\> cd BotSharp - -Build docker image: - -:: - - PS D:\BotSharp\> docker build -t botsharp . - -Start a container: - -:: - - PS D:\BotSharp\> docker run -it -p 3112:3112 botsharp - - -Install in NuGet -^^^^^^^^^^^^^^^^ - -:: - - PM> Install-Package BotSharp.Core - PM> Install-Package BotSharp.RestApi - -Use BotSharp.NLP as a natural language processing toolkit alone. - -:: - - PM> Install-Package BotSharp.NLP - - - -Tip Jar -------- -* Ethereum 0x2FdE97210cd14F6020C67BAFA61d4c227FdC268d - -.. image:: https://raw.githubusercontent.com/Haiping-Chen/Etherscan.NetSDK/master/qr_code_eth.jpg - :height: 160px .. _Rasa UI: https://github.com/paschmann/rasa-ui .. _Articulate UI: https://spg.ai/projects/articulate -.. _Microsoft .NET Core: https://www.microsoft.com/net/download -.. _Docker: https://www.docker.com \ No newline at end of file diff --git a/docker-compose-articulateui.yml b/docker-compose-articulateui.yml new file mode 100644 index 00000000..16ac9cfd --- /dev/null +++ b/docker-compose-articulateui.yml @@ -0,0 +1,35 @@ +version: '3.0' + +services: + api: + image: samtecspg/articulate-api:repo-head + ports: ['0.0.0.0:7500:7500'] + networks: ['botsharp-network'] + entrypoint: ['node', 'start.js'] + environment: + - SWAGGER_BASE_PATH + + ui: + image: samtecspg/articulate-ui:repo-head + ports: ['0.0.0.0:3000:3000'] + networks: ['botsharp-network'] + environment: + - rasanluendpoint=http://botsharp:5000 + - API_URL + + botsharp: + image: botsharpdocker/botsharp:latest + ports: ['0.0.0.0:5000:5000'] + networks: ['botsharp-network'] + duckling: + image: samtecspg/duckling:0.1.6.0 + ports: ['0.0.0.0:8000:8000'] + networks: ['botsharp-network'] + redis: + image: redis:4.0.6-alpine + ports: ['0.0.0.0:6379:6379'] + networks: ['botsharp-network'] + command: redis-server --appendonly yes + + +networks: {botsharp-network: {}} \ No newline at end of file diff --git a/docker-compose-rasaui.yml b/docker-compose-rasaui.yml new file mode 100644 index 00000000..549aa796 --- /dev/null +++ b/docker-compose-rasaui.yml @@ -0,0 +1,17 @@ +version: '3.0' + +services: + ui: + image: botsharpdocker/botsharp-rasaui:latest + ports: ['0.0.0.0:5001:5001'] + networks: ['botsharp-network'] + environment: + - rasanluendpoint=http://botsharp:5000 + + botsharp: + image: botsharpdocker/botsharp:latest + ports: ['0.0.0.0:5000:5000'] + networks: ['botsharp-network'] + + +networks: {botsharp-network: {}} diff --git a/docs/index.rst b/docs/index.rst index 9335bbe4..185aaac7 100644 --- a/docs/index.rst +++ b/docs/index.rst @@ -6,17 +6,54 @@ .. image:: https://raw.githubusercontent.com/Oceania2018/BotSharp/master/BotSharp.WebHost/wwwroot/images/BotSharp.png :height: 30px -.. include:: ../README.rst +The Open Source AI Bot Platform Builder for Enterprise +====================================================== -.. toctree:: - :maxdepth: 2 - :caption: Contents: +*"Conversation as a platform (CaaP) is the future, so it's perfect that we're already offering the whole toolkits to our enterprise developers using the BotSharp Bot Platform Builder to build a CaaP. It opens up as much learning power as possible for your enterprise robots and precisely control every step of the AI processing pipeline."* +**BotSharp** is an open source machine learning framework for AI Bot platform builder. This project involves natural language understanding, computer vision and audio processing technologies, and aims to promote the development and application of intelligent robot assistants in enterprise information systems. Out-of-the-box machine learning algorithms allow ordinary programmers to develop artificial intelligence applications faster and easier. +It's witten in C# running on .Net Core that is full cross-platform framework. C# is a enterprise grade programming language which is widely used to code business logic in information management related system. More friendly to corporate developers. BotSharp adopts machine learning algrithm in C/C++ interfaces directly which skips the python interfaces. That will facilitate the feature of the typed language C#, and be more easier when refactoring code in system scope. + +Why we do this? because we all know python is not friendly programming language for enterprise developers, it's not only because it's low performance but also it's a type weak language, it will be a disater if you use python to build your bussiness system. + +BotSharp is in accordance with components princple strictly, decouples every part that needed in the platform builder. So you can choose different UI/UX, or pick up a different NLP Tagger, or select a more advanced algrithm to do NER task. They are all modulized based an unfied interfaces. + +Some Features +------------- + +* Built-in multi-Agents management, easy to build Bot as a Service platform. +* Context In/ Out with lifespan to make conversion flow be controllable. +* Use the natural language processing pipeline mechanism and the popular NLP algorithm library to build your own unique robot processing flow. +* Support export/ import agent from other bot platforms directly. +* Support different UI providers like `Rasa UI`_ and `Articulate UI`_. +* Support for multiple data request and response formats such as Rasa NLU and Dialogflow. +* Integrate with popular social platforms like Facebook Messenger, Slack and Telegram. Indices and tables ================== +The main documentation for the site is organized into a couple sections: -* :ref:`genindex` -* :ref:`modindex` -* :ref:`search` \ No newline at end of file +* :ref:`User Documentation ` +* :ref:`Integration Documentation ` +* :ref:`search` + +.. _user-docs: + +.. toctree:: + :maxdepth: 2 + :caption: User Documentation: + + installation + +.. _integration-docs: + +.. toctree:: + :maxdepth: 2 + :caption: Integration Documentation: + + integrations/facebook-messenger + + +.. _Rasa UI: https://github.com/paschmann/rasa-ui +.. _Articulate UI: https://spg.ai/projects/articulate diff --git a/docs/installation.rst b/docs/installation.rst new file mode 100644 index 00000000..5cd8f60b --- /dev/null +++ b/docs/installation.rst @@ -0,0 +1,80 @@ +Installation +============ +BotSharp strictly follows the modular design principle and adopts a structure in which views and logic are separated. +So you can choose the front-end Bot design and management interface. +If you want to use the `RASA UI`_ as a front end, you can use the rasaui-specific compose file to quickly experience BotSharp. + +Docker Composer +^^^^^^^^^^^^^^^ +Integrate with `Rasa UI`_, you can use docker compose to run. +Make sure you've got `Docker`_ installed. + +:: + + PS D:\BotSharp\> docker-compose -f docker-compose-rasaui.yml up + +Point your web browser at http://localhost:5001 and enjoy Rasa-UI with BotSharp. + +Integrate with `Articulate UI`_, you can use docker compose to run. +Make sure you've got `Docker`_ installed. + +:: + + PS D:\BotSharp\> docker-compose -f docker-compose-articulateui.yml up + +Point your web browser at http://localhost:3000 and enjoy Rasa-UI with BotSharp. + +Building BotSharp +^^^^^^^^^^^^^^^^^ +Make sure the `Microsoft .NET Core`_ build environment is installed. +Building solution using dotnet CLI (preferred). + +:: + + PS D:\> git clone https://github.com/Oceania2018/BotSharp + PS D:\> cd BotSharp + PS D:\> dotnet build + +Install in docker container +^^^^^^^^^^^^^^^^^^^^^^^^^^^ + +:: + + PS D:\> git clone https://github.com/Oceania2018/BotSharp + PS D:\> cd BotSharp + +Build docker image: + +:: + + PS D:\BotSharp\> docker build -t botsharp . + +Start a container: + +:: + + PS D:\BotSharp\> docker run -it -p 5000:5000 botsharp + + + + + +Install in NuGet +^^^^^^^^^^^^^^^^ + +:: + + PM> Install-Package BotSharp.Core + PM> Install-Package BotSharp.RestApi + +Use BotSharp.NLP as a natural language processing toolkit alone. + +:: + + PM> Install-Package BotSharp.NLP + + +.. _Rasa UI: https://github.com/paschmann/rasa-ui +.. _Articulate UI: https://spg.ai/projects/articulate +.. _Microsoft .NET Core: https://www.microsoft.com/net/download +.. _Docker: https://www.docker.com diff --git a/docs/integrations/facebook-messenger.rst b/docs/integrations/facebook-messenger.rst new file mode 100644 index 00000000..220f886f --- /dev/null +++ b/docs/integrations/facebook-messenger.rst @@ -0,0 +1,56 @@ +Facebook Messenger +================== + +The BotSharp Facebook integration allows you to easily create a Facebook Messenger bot with natural language understanding, based on the BotSharp technology. + +**Setting Up Facebook** + +In order to set up the Facebook integration for your agent, you'll need the following: + +* A Facebook account + +* A Facebook page to add your agent to + +When a user visits your page and sends you a message, they'll be talking to your agent. + +**Create a Facebook App** + +1. Log into the `Facebook Developer Console`_. +2. Click on **My Apps** in the upper right hand corner. +3. Click on **Add a New App** and enter a display name and contact email. +4. Click **Create App ID**. +5. On the next page, click the **Set up** button for the **Messenger** option. +6. Under the **Token Generation** section, choose one of your Facebook pages (**Create a new page** if not exist). + +This will generate a **Page Access Token**. Keep this token handy, as you'll need to enter it in BotSharp. + +**Setting Up BotSharp** + +1. Click on the Integrations option in the left menu and switch on Facebook Messenger. In the dialog that opens, enter the following information: + * **Verify Token** - This can be any string and is solely for your purposes + * **Page Access Token** - Enter the token generated in the Facebook Developer Console +2. Or edit agents.json under App_Data\DbInitializer\Agents, update **Page Access Token** and **Verify Token**. +3. Click the **Start** button. + +**Webhook Configuration** + +To configure your agent's webhook, return to the Facebook Developer Console: + +1. Click the Setup Webhooks button under the Webhooks section and enter the following information: + * **Callback URL** - This is the URL provided on the Facebook Messenger integration page + * **Verify Token** - This is the token you created + * Check the **messages** and **messaging_postbacks** options under Subscription Fields +2. Click the **Verify and Save** button. + +**Testing** + +In order to make your agent available for testing, you'll need to make your app public: + +1. Click on **App Review** in the left menu of the Facebook Developer Console. +2. Click on the switch under **Make APP_NAME public**? You'll be prompted to choose a category for your app. +3. Choose **Apps for Messenger** from the list +4. Click the **Confirm** button. + +You will also need to set a username for your page. This is the username users will chat with when using your agent. To set the username, click the **Create Page @Username** link under your page's profile picture and title. + +.. _Facebook Developer Console: https://developers.facebook.com \ No newline at end of file